I have a memory from around 25 years ago, it was the middle of the afternoon in the middle of the week. I was sitting on my sofa playing video games and a good friend of mine remarked “You’re successfully underemployed”.
I tell people who talk to me in recent times that money didn’t make the life I live today possible. I’ve always lived with a freedom in my life to do what I want when I want to do it. Now, having money means that I’m living with less precariousness (although the worry and catastrophic planning never goes away) and a lot of stresses are not present, however, I’m still pretty much the same as I was 25 years ago. I created this list to share about what it means to me to be “successfully underemployed” that any lifestyle entrepreneur (I consider myself one, a person who creates the life they want to live, as opposed to creating a startup) can utilize.
- When you do make money, there needs to be a lot of upside potential. Charge twice as much for doing half the work. Most people do the opposite, they work twice as hard for half the money.
- Insulate yourself from the “Feast or Famine” cycle by expecting it instead of being surprised by it. I’m insulated these days from economic turmoil because when times were good I expected things to change.
- Create multiple streams of income. When I was a DJ, I made the most money by performing, but I also made money from selling CDs and merchandise. There were times where a single online sale paid for food on my table.
- Collect deposits for work you haven’t done yet.
- Have intense busy periods, followed by lots of downtime. When I promoted raves, it was like planning a wedding, and then it was over. As a hypnotist I would book myself on tours, performing every day, then come home for months off.
- Measure results, not time spent on task. This is a big life philosophy for me. Like for example, this article, is a result. It might be the only thing I do today.
- Live lean and within your means. Live without debt, and use yesterday’s money to pay tomorrows bills as opposed to needing to generate money tomorrow to pay yesterday’s bills.
- Hustle when you have to. Do the hard work. You can’t wait around for the opportunities to show up, sometimes you have to literally walk the pavement and do the scary thing, like engaging with a stranger.
- Charge for the value you are creating, not for what you “need”. Don’t create pricing based on what you need to survive. That’s irrelevant. Lean into being awesome and creating awesome things and charge accordingly.
- Don’t be a commodity. Be an industry of one. I often jokingly refer to being “in the Chris Frolic business”, and looking back at my entire career, that has always been true. I’ve always been unique and exclusive. One of a kind.
- Whatever you’re comfortable asking for – double it (see a trend here?).
- Practice saying your numbers until you can with full confidence. I used to practice to my mirror, a mentor phone call, and later I recorded myself on my webcam.
What from my list speaks to you? Which one scares you?
