Living The Dot Com Lifestyle – Rule 1

The following is an excerpt from my Third Tuesday presentation on how to run a million dollar business on two hours per day.

The Dot Com Lifestyle mean not only money freedom but time freedom and location freedom. There are many people who make a lot of money but they have no time to spend it because they’re working so much. And they’re usually locked down to one place because they can’t escape their work. There are also many people who have a lot of time, especially during a recession with so many people being out work. So they have time, but they have no money. And they’re locked down to once place as well because they have no money to travel. The Dot Com Lifestyle means having it all; time, money and location freedom.

Now, It never fail when I’m talking about this subject, someone will say, “If I can make a million on 2 hours per day, why don’t I work 8 hours per day make $4 million?” If that’s you, then I say you’ve missed the point. Money is not the important thing here, time is. Making a lot of money is easy. It’s really not that hard. However, every single one of us have the same amount of time. We can have unlimited money but we will always have limited time. So if you want to work 8 hours per day to make $4 million, go right ahead. I rather be playing in the park with daughter.

The dot com lifestyle requires a paradigm shift and most people won’t be able to wrap their heads around it. You’ve been condition since childhood to do thing a certain way and when someone comes along and say there’s a better way of doing it, all the defenses go up. That’s why very few will be able to achieve it. They all want it, but because of past conditioning, they won’t be able to get it until they can break free of their self doubt and limitations.

If your goal is to have time and money and location freedom, the Dot Com Lifestyle, then I’m going to share with some rules and techniques that I’ve use to achieve it.

Rule 1 – Work More Efficiently

If your goal is to make a lot of money in the least amount of time possible, then you have to learn to make more efficient. Keep the 80/20 rule in mind. This rule states that most output are created by a small percentage of the population. In your business, you’ll find that 80% of your sales come from 20% of your customers. On the Net, you’ll find that 80% of blogging income is created by top 20% of bloggers (it’s probably closer to 95/5).

Working more efficiently mean spending most your time with the 20% and less time with the 80%. In my case, I would say spend all you time with the 20% and screw the 80%. The goal here isn’t to make more money. The goal is to make more time.

Make sure everything you’re doing will bring you the biggest result. Instead of doing a one on one pitch, do it in front of 100 people like I did for my Third Tuesday presentation. It takes the same amount of time but you’re doing a lot more.

Another thing to keep in mind is the rule that says time expands to fill the task. Before becoming a dot com mogul, I own a print shop and employed a press person who always seem to finished however many jobs was posted on the wall. He would come in the morning, look at the wall and then calculate how much he needed to slow down by so he won’t run out of jobs before the end of the day. This was good for him but was bad for me.

If you have a task to do, give yourself a really short deadline so you don’t end up expanding time to fill the task. You’ll be amazed at how much you can really do if you have no other choice. By giving yourself really short deadlines and keeping the 80/20 rule in mind, you should be able to increase your efficiency by two to five times. So instead of working for eight hours per day, you can do a full days work in a few hours. Then of course, your boss will give you more work. That leads me to rule number two.

To be continued.