Welcome back to another solo episode of the podcast. I read that some of the most popular emails from my newsletter. If you are not yet subscribed, please do so at profitablemusician.com/join and you’ll receive our newsletter three times where you will learn how to be profitable in three minutes or less.
As promised, I am going to read my email that is called “How To Get Music Career ROI (Return On Investment)”. This is related to the email I sent about profit. There I mentioned that to profit means to earn more than what you spend, or to get more out than what you put in. Being profitable does not have to relate to money. You can make a profit in anything. In the business world, that is called making a positive ROI (Return on Investment). My goal is for you to get a small ROI every time you read my newsletter or listen to my podcast. You’re not investing money, but your most valuable resource, your time and attention.
The investment of time in the right things generates a positive ROI. Let me give you a personal example, I enjoy walking everyday. If I can make walking twice an enjoyable, that would be a 2X ROI. If I can get the same benefit in 1/3 of the time, that would be a 3X ROI. I could walk up a steep hill. I could listen to a podcast that teaches me something cool and new, that makes me laugh, or that stimulates my imagination with a fantastic story. With my attention captivated, the time spent would feel really short. To recap, I’m putting in less time. I’m getting better exercise. I’m having more fun doing it. It feels fast and easy because it is more enjoyable. Combining all these on my walk will give me a 6X return on investment. That is sincerely a profitable experience. This is why I am such a proponent of productivity hacks and time management systems. It can make your time profitable. If you can learn to make a profit on your time and resources, you can try to put those principles to work with money. Once you put profitability to work in small things and less risky things, move up the ladder to bigger and more lucrative things. Profitability is a process. Let’s work together to get you there step by step.
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