Work Smart, Not Hard
Successful people have one thing in common. They understand how to work smart, not hard. That means that instead of being compensated by the number of hours you work, and trying to maximize both the hours and hourly rate, their success is measured by outcomes.
If a minimal effort in the right area creates a substantial windfall, great. If it takes a lot of effort for that windfall, that is fine too. They are after the successful payoff, not the guaranteed rate over time.
Many of us try to practice that as well. Commissioned sales people, or those with performance bonuses adopt that concept. It is a proven way to get ahead in life.
So why then, do we not ask our money to adopt the same principle? We should make our money work smart instead of hard, the same way we earned it. When we invest through established investment channels, we are sending our money to financial sweat shops like brokerages and clearing houses where the true earnings of our investments are divided among too many parties, leaving us with just the hourly wages our money is given.
Instead, we should use our money to buy assets that command stronger rates. Then, the only ones we share the income with are those who manage those assets. We can then enjoy the lion’s share of the revenue from those investments.