The way to make more money, is to do more and more with less and less. One way to do that is leverage yourself by hiring other people.
One of the things Tim F recommended in the four hour work week was to hire a VA a “Virtual Assistant” for about $5/hour and have them do all of your unimportant work that anyone can do. Well being one to take the advice and actually apply it, I did search for some VAs on elance.com, but never followed through with it. I’m going to instead hire someone else’s kid I know and pay him.
Once you are earning some residual income you may consider starting to pay someone else to do your work for you. Employees are to replace yourself and have them do your work for you.
So with Jingyee, Inc the internet holding company for two websites is currently now bringing around $500-$600/month, it just makes sense to pay someone $300-400/month to keep building that internet company. So I called my dad’s contractor who has three kids, and I’m going to hire one of them to do computer work for me and expand the website business. The engine sites are pretty basic, it just adding content about engines and Mazda’s, simple enough. I will just go ahead and pay them, and then later on if they get good, they can have a residual piece of the money once it is generating more money.
With extra income, instead of buying a toy, you may consider paying someone else to work for you.