There are only two ways to increase your earnings.

1. Magnify
2. Multiply

Let's talk about magnify first.

For a person who uses time to make money, the way to increase his earning is to magnify his time cost.

For example, a doctor can increase his income by becoming a surgeon who can command a higher fee. A public speaker can increase his income by charging a higher fee for his seminar.

If you want to increase your income through magnification, the questions to ask is, "How can I charge more for my time?"

Another way is to multiply.

Multiplying your income simply means selling to more people.

For example, having an affiliate program is a way to multiply your income. A public speaker can also increase his income by creating online courses or membership. That way, he can reach out to more people without exhausting his time.

If you want to increase your income through multiplication, the questions to ask are, "How do I find more customers?", "How can I duplicate my success?"

Magnifying is good, but multiplying is better.

Why?

When you magnify, your fee, level of service, responsibility, and the expectation of your customers will also increase. That may eventually increase your stress level.

When you multiply, you are merely selling more.

Nevertheless, in business, we should always think of both ways, i.e. how to magnify and multiply our earnings.

Regards,

Brent.

P.S.  If you don't already have an income, then neither of these are relevant to you, but there is still a solution.

You should get some cash flow happening, so you have a start then you can scale it up to increase it.

That would be the multiplication factor.

When that's going well, then you can add more value or another income stream.

That would be magnifying.

Start with Seed Money.

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