Most of us trade large blocks of our time for money. That’s the essence of the rat race, and why so many of us feel like we’re hamsters running on a wheel. We work 40 or 50 hours a week for the privilege of relaxing for a few hours on the weekend, only to climb back in the wheel on Monday morning. That’s why fully 70 percent of Americans are unhappy with their work.
Many people have found creative ways to leverage their time, so that rather than only being paid once for the hour they work today, they’ll make money on that same hour tomorrow, and the day after, and the week after that long into the future.
Creating a product that can be sold more than once hasn’t really been an option for the vast majority of people until we entered the digital age.
There are as many ways to leverage your time as there are individuals. Most people will never figure out even one of them. They’ll be stuck selling time with only a modest hope of a future return in the form of retirement payments that will be too meager to support them.
DON’T let another day go buy without formulating a plan to leverage your time by selling something else. Following are five ways that you can use your time to create something that can be sold over and over.
Five Products You Can Make Once and Sell Over and Over
- An eBook. Amazon, Kindle, Nook, iBooks, and many other platforms and distributors have made self-publishing a literal breeze. If you’ve always thought you have a book in you, there could be no better time than now to begin writing it. I’ll have guidance on the entire process later, but if it’s something that interests you, check out what Steve Scott has to say about the subject here.
- A course. The MOOC (Massive Online Open Course) sites like Udemy and iTunes U can host your course and manage the sale, promotion, and distribution of it. If you have a unique skill set, a musical talent that can be taught, or a new way of making lawn furniture, you may have the basis for an online course. Start at Udemy.com to see what other’s are doing, then check out Nick Loper’s article here
- A smartphone app. Don’t dismiss this because of the technical difficulties. If you have an idea, you can find a developer to produce the app. If you’d like a little inspiration, read the story of Nick D’Aloisio who’s made millions on smartphone apps as a teenager.
- An information product that’s sold by affiliate networks. This could be a video series that teaches muscle building or gourmet cooking or car washing fundraisers. Clickbank.com is a good place to see what sorts of products others are selling. The list is incredible, and once you’ve developed your product, armies of affiliate marketers will take it to the streets of the worldwide web to market it mercilessly.
- Software. This may again seem daunting if you have no coding skills. But many successful software sellers don’t have those skills either. What they have instead is creativity, and the ability to find software solutions to common problems. They then partner with or pay software developers to craft the product. Once it’s done and debugged, a software product can be sold and resold, with upgrades as needed. See what Dane Maxwell told Pat Flynn about his successes with software and the techniques he uses to find valuable markets here.
It’s entirely possible that you will create a digital product, a book, an app, or a course, and that it won’t sell well. You might find that your sales revenue doesn’t cover your production costs. Many of our best efforts fail. But some succeed, and sometimes beyond our best expectations.
Don’t let the fear of success stop you, or even slow you down. The potential reward of spending more of your time doing what you love vs. making other people wealthy. Taking action on your own behalf is what sets the financially liberated apart from wage slaves.
Yes, it will take time to write a book, or develop an app. Time that you might have spent with friends, or posting on Facebook, or snow boarding, or hiking, or watching television. But if you’re willing to do right now what others are not willing to do, you’ll be able to do later what most people only dream of doing but will never be able to afford
Investing your time now for a future reward is the main ingredient to breaking free of the financial bondage that keeps so many of us enslaved. Start today to create the future that you want to live in.