The Difference Between Making $50K and $500K a Year
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Making more money has advantages and disadvantages. The more you do, the more responsibilities you have, and the more problems you will encounter.
Right now, I can do anything I want, but I decided to continue working on my business. Here is why…
I found something that produces results and that there is demand for. Moreover, there is opportunity for growth. I decided to take that path, because I realized that I can make something that other people are not doing and I can make a difference in the world by providing value to other people.
I would like to inspire you to start a business and make a change in the world. The more entrepreneurs there are, the better the world becomes.
The idea that money can’t buy happiness has been disproved by science, at least up to a point. Experts say that happiness does increase with wealth, but the correlation peaks at earning $175,000 per year. The lower a person’s annual income falls below that benchmark, the unhappier he or she feels. But no matter how much more than $175,000 people make, they don’t report any greater degree of happiness. Actually, in order to make $175K a year in profit, you have to make a lot more than that.
It depends on your personal believe how much money you need. You have to find out who you want to be in life.
- Do you want to be someone with huge amount of responsibility?
- Do you want to be someone who people look up to?
- Do you want to be a public star and make speeches in front of hundreds of people?
- Do you want to be someone who is sitting in an office making $50K a year doing same boring stuff every day?
The actual producers in today’s world are only 10% of the population. The other 90% are just consumers. They don’t have skills, ambition or intelligence. They do not have the motivation to achieve success in life.
The 10% of the world’s population are people who are constantly learning new things. They are not satisfied with just finishing university and having a job. They want something more out of life. They want to build a real business and provide value to the world.
There are people who invest thousands of dollars in self-development just to learn a new skill like sales, Google Ads or Facebook Ads.
These people are structuring their life around work. They are not neglecting the other parts of their lives. They are balancing between their work and personal life.
Most people thing that you just need to hustle and work super hard. That is partly true, but if you don’t balance it, you cannot think creatively. You don’t want to end up in a hospital because of overworking.
In my very early years of life, I was just watching tv and playing video games. I did not go out at all. I had no friends and social life at all. But, once I started learning new skills, my life changed for the better. I found my purpose in life.
If you want to grow and scale your business and move from $50K to $500K a year, you should start working on your business and not in your business. You can do that by outsourcing the work to other people. Outsourcing is giving your work to someone else outside of your main business. That could be through freelancing, or by hiring another firm to handle segments of your business. They can take the workload off from you, so that you can focus on the important stuff in your business.