There are two methods to increase your earnings, which are magnification and multiplication.
Let us discuss magnification first. For those who earn money using their time, the way to increase earnings is to magnify the cost of their time. For instance, a doctor can increase their income by becoming a surgeon, who can demand a higher fee.
A public speaker can also increase their income by charging more for their seminars. If you want to increase your income through magnification, ask yourself, “How can I charge more for my time?”
The other way is multiplication. Multiplying your income means selling to more people. For instance, having your own affiliate program is a way to multiply your income. A public speaker can also multiply their income by creating online courses or membership, allowing them to reach more people without exhausting their time.
If you want to increase your income through multiplication, ask yourself, “How can I find more customers?” and “How can I duplicate my success?”
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