7 Ways to Work Less and Earn More

The pandemic disrupted the labour market in Nigeria and Africa at large. The lockdown led to the abrupt closure of many offices and workplaces, resulting in job losses. It also presented many opportunities to work less and earn more than many ever thought was possible.

Kunle Deremola, a Nigerian working in Lagos, is a perfect example. He shared his bitter-sweet pandemic experience with Business Elites Africa. He was fired from his job despite how hard-working he was. That was when he realised that his skillset was obsolete, forcing him to upskill.

The pandemic ushered in a new era of remote work for millions of people like Kunle. Losing his job made them rediscover himself and discover the world of freelancing, a classic example of ‘work less and earn more’ opportunity.  

“In 2020, I was one of the people that was sacked in my office. I was always at the office and doing my job as required but when I received the sack mail, my employer noted that in the new normal, my skills won’t be required,” he said.

“It was strange because I used to think it was about hard work. In 2021, I learnt new skills and started applying for remote jobs. Presently, I work for three firms in the US and two in Nigeria at the comfort of my home. No Lagos traffic, no hard work and multiple streams of income and I am happy.”

Working smarter and not harder involves better managing your time, knowing what needs to get done and when, and utilising tools to keep you on track. If you don’t embrace this, it will be challenging to function in today’s world, knowing that there is no “post-Covid” era. 

Here are some of the best tips to help you get started.

Multiple income streams

Like Kunle, the pandemic has made us realise that we can do many things. It forced us to accept using tools and technology to save time. 

When many people lost their jobs due to COVID, some went back to ground zero because they didn’t have any other means of survival.

Technology has made it possible to live in Lagos and work for companies or individuals in New York, Sydney or Tokyo simultaneously. It’s called freelancing. And interestingly, you don’t have to leave the comfort of your home while doing this. What’s better than living in Africa and earning in US dollars? Nothing!

Creating multiple income streams allows you to have various cash flow sources. This puts you in a better position to be prepared if one source of income fails. Now you have something to fall back on.

ALSO READ: 5 Skills that will be in High Demand in 2022

Register on freelance platforms

To work less and earn more has never been easier. Suppose you have the in-demand skillset such as Writing, UI/UX designing, Software engineering, Digital marketing, etc., and you’re not already registered on at least Fiverr.com or Upwork.com; you’re leaving thousands of dollars on the table.

Employers would literally beg you to take their money and work for them on these platforms. That’s how lucrative many of these skills are. And if you don’t have any skill, all hope is not lost. Get on Coursera.com or Hubspot.com or even Youtube, and learn. You can learn some of them for free. 

However, to tap into these opportunities, you have to be ready to put in the work. This is not a get rich quick scheme. There is no limit to how much you can earn with the right mindset and commitment while you have time for other personal engagements.

Automate your finances

For two weeks in December 2021, MTN Nigeria gave the public a buying opportunity to own 575 million shares in the company at an entry price of N169 per share. 

According to MTN, the “offer was 139.47% oversubscribed, activating the allocation of an additional 86.25 million shares”

“The Offer was oversubscribed with valid applications for a total of 801.97 million units, leading to the activation of the approved 15% over-subscription clause of an additional 86.25 million MTN Nigeria shares,” Uto Ukpanah, the company secretary, said via a statement.

The point is, with an oversubscription of 139.47 %, it means a lot of people are on their way to making more money while doing nothing – a potentially lucrative passive income. This is one of the best ways to work less and earn more.

When you automate your finances, you are automatically setting up your bill payments and savings accounts to be automatically paid every month, and that’s the road to financial freedom.

Don’t spend more than you earn on accommodation

You have probably heard the saying that “if your first three months’ salaries can not pay the bill, don’t move in.” It is valid on many fronts, especially if you want to be financially free. 

According to Dyana King, Money and Mindset coach, “The strategy of moving from one place to another for a cheaper cost of living is called “geo arbitrage.” It helps people save money and find financial independence sooner.” she said

“You don’t have to move permanently. Even a short move for a few years can have a massive impact on your financial life — if you budget accordingly.”

Collaborate and partner with other people

The idea is not just to get the job done but to work less and still get paid for it. If you must achieve this, you should learn to collaborate and partner with other people to get the job done. 

It is also about embracing the spirit of teamwork. Teamwork allows us to split up work to achieve goals faster and better. More people means more brains, perspectives, and hands, which yields more impactful results.

The link between collaboration, productivity, and profits isn’t an accident. A recent study of 1100 companies by the Institute for Corporate Productivity found collaborative work is five times more likely to end with higher performance. 

The study found that organisations achieving higher performances had something in common: open, collaborative cultures where teams were grounded in a core purpose. So the adage is true: two heads are better than one.

ALSO READ: How Nigerian Hospitality Entrepreneur, Obi Cubana Became a Billionaire ‘Overnight’

Acquire new skillset

Learning a new business skill is an excellent way to break into an industry, make yourself more attractive to employers and earn more money. 

The skills you have and your discovery of new productivity tools will support your dream of financial freedom. 

There are a lot of ‘at your pace’ courses that can position you to have multiple streams of income or remote jobs. 

Leverage tools and equipment to raise productivity

Technologies have come to stay, and we must learn to make good use of them to be productive and effective at work. 

Imagine wanting to transcribe a 30 minutes video or audio interview. Imagine the stress and the time you will spend doing that. Now, also imagine using transcribing tools or software that can do that faster and efficiently. 

Remember, the idea is to get the job done smartly and still get paid for it.