Creating Multiple Profit Centers

“No matter how little I do, sometimes I feel I can do even less.” — Garfield, the cat

I honestly believe that hard work is overrated. A millionaire friend of mine once told me, “Rasheed, if hard work was the answer, then all the (manual laborers) would be rich.”

In his classic book Science of Getting Rich Wallace D Wattles says that in order to become rich you must learn to take effective action. Others have called it the 80/20 principle. 80% of your results are produced by 20% of your efforts. If we take this principle a step or two further, it would mean that 50% of your results are produced by less 1% of your efforts, and 96% of the results is achieved by a mere 36% of the efforts.

People who are not rich (that includes me) need to learn to identify the 36% of the work that produces 96% of the result, on our way to doing 1% that gets half the job done, and assign the rest of the work to others.

I know for a fact that this can be done with proper motivation and education/training/discipline.

Two years ago I was working seven days a week, in excess of 65 hours every week to bring home the bacon. Last year, I was still working seven days, but around 35-40 hours to bring the same amount of money. In the last few months, I have cut down my efforts to five days per week working 25-30 hours, yet maintaining the same income level.

All the while, I have been investing the freed up time into educating myself to grow and expand my dreams, and to strengthen my belief in myself. In other words, I have been growing my confidence in my ability to accomplish the same in less time and teaching myself the skills of accomplishing more in less time.

As such, I have done some serious reorganizing of my thoughts and my priorities, so I can get to where I want to be sooner than if I stayed on the same course of action.

One of the things that I have done along these lines, is to start writing for Examiner.com as a lifestyle design examiner. This gives me another platform to work from and since Examiner.com already has a built-in monetizing formula, I am starting to earn some income by simply re-presenting the ideas form this blog on a different platform. This is what I mean by doing less and earning more.

My focus over the coming weeks and months will be on creating Multiple Profit Centers. I’ll write about it as I go along and keep you posted on the progress I am making.

My ultimate dream is to spend the rest of my life traveling and making contacts with people I’ve never met before and sharing the joys that I find along the way with the rest of the world. In order to do this effectively, I realize that I have to be free from concerns of making a living.

Therefore, from this point forward, all my focus, commitment, and efforts will be dedicated to creating multiple centers of profit that require little or no efforts on my part in the long run. In other words, I am inclined to creating multiple streams of residual income.

I mentioned Examiner.com above, and I will be introducing another one of those in my next post on Thursday, so be sure to be tuned in. The best way to do that is to subscribe to the RSS feed to this blog.

I would certainly appreciate comments on what you think about the idea of multiple profit centers and residual income.