Build a personal portfolio of ideas. A man I know has the unfortunate habit of running out of money. When this happens, he goes into panic, followed by depression, followed by applying for a job he hopes he won’t get. During his latest cash flow crisis, I tried to explain to him, as gently as possible, that there was no reason for this endless Feast or Famine cycle.
If you’ve read Making a Living Without a Job or taken my seminar of the same name, you’re already familiar with the $100 idea. Whether it’s a new idea to you or not, this is the perfect time to commit to putting it into action.
You can begin implementing the $100 Hour even if you now have a job or other commitments that clamor for your time. Begin by making a pact with yourself that you will set aside time daily, if possible, or at scheduled intervals for the purpose of creating an idea that will bring you $100. You needn’t complete the plan in the hour, but if time permits use your surplus to get your idea rolling. Do research, make calls, write letters—anything that advances your goal. As Neil Fiore points out, “Keep on starting and the finishing will take care of itself.”
If you’re focusing your energies on a single profit center, come up with an idea for expanding it in a way that will earn another $100. If you’re going to try a number of different ideas in order to figure out what you most want to do, then this time can be spent designing a variety of projects. Begin by looking for opportunities that may be hiding in plain sight.
A word of warning is in order here. While this idea works wonders, your ego may tell you that $100 is too insignificant to bother with. Ignore it. After all, great fortunes and grand achievements have been accomplished by steadfast devotion to creating tiny successes—which ultimately add up to enormous success.
The discipline that comes with using this technique is perhaps its greatest bonus. However, once you start seeing results, don’t stop using it. With continued practice, you’ll find it gets easier and easier to come up with $100 ideas. At that point, you can raise the monetary stakes, if you like. At any rate, you’ll discover that the quality of your ideas gets better and better with practice.
$100 Hour: Clean out a closet. Why not resell things you no longer use? Clothes, especially high-quality ones that are in good repair, can be taken to a consignment shop—as can toys, sporting equipment, furniture and computers. You can also advertise on Craigslist, sell things directly on eBay or organize your own yard sale.
Explore More: John Schroeder’s Garage Sale Fever is a perfect handbook whether you’re selling or buying with the purpose of reselling. Even if garage sale season is months away in your part of the world, this will help you get things organized.
“I’ll never forget this idea” is the devil’s whisper. Catch everything that matters in your notebook. ~ Richard Bach