My Plan To Ethically Double My Net Worth In 2024 (Without Burning Out).

I’m doubling down on building an audience.

Building wealth is a skill you can learn.

It’s no different to learning how to walk. You’ll suck at first. Stumble. Hurt yourself. But after a while, you’re walking. And then running. The beginning is always the hardest. But the payoff is worth it.

Here’s my plan to double my net worth in the next 12 months.

Anything over my basic expenses, I reinvest in:

• Self-education (i.e books & courses).
• Self-improvement (i.e therapy, coaching).
• Self-exploration (i.e travel, experiences).
• Self-convenience (i.e hiring a virtual assistant).

These ‘costs’ have a clear return-on-investment

I either learn, improve, grow, or save time.

They also all help me generate wealth:

• You can’t make money without the knowledge and skills.
• You can’t make money without the right mindset & beliefs.
• You can’t make money without the right perspective.
• You can’t make money without leverage on your time.

In the short term, these will only look like expenses. But over time, I’ll make all my money back and more.

The best part? They continue to pay off forever.

No one can steal my skills, mindsets, perspective, or knowledge.

I ruthlessly cut out any expense that doesn’t fit into these categories.

• I barely spend money on material possessions.
• I don’t spend money on alcohol or drugs.
• I don’t eat out much and occasionally buy a coffee.

Why do most people never build wealth?

Because most of their increased earnings never get invested into the activities that help them build wealth.

Investing > spending.

I’m even more ruthless with my time.

• I say no to most pointless social events.
• I say no to most speaking opportunities.
• I say no to people who drain or waste my time.

I’m even starting to resign from various board and committee positions that I’ve held for the last couple of years.

I’ve gotten everything I can from them. It’s time to let go. I need to make time and space for a new identity to take shape.

I’m very guarded with my time. It’s the most valuable resource that I have. I interrogate every meeting. I question every responsibility. I spend money to create more time.

Any spare time I reinvest into:

• My most important relationships are with friends & family.
• My health, well-being, and mental headspace.
• My time in nature, learning & creating

My weekends are usually empty of plans and obligations.

Time compounds whatever you feed it.

Rubbish In, Rubbish Out.

I realized that business is the best vehicle to build real wealth and create impact.

88% of millionaires are entrepreneurs.

And the majority are self-made. They inherited none of their wealth through mummy and daddy. So you have no excuse.

You’ve got three options:

1. Complain, procrastinate, or be the victim of your circumstances.
2. Have your own business.
3. Own a piece of one.

Two of the options will get you wealthy. One will keep you broke.

And starting and/or owning a business has never been easier.

Here’s how I am doing it:

• I work a 9–5 job, where I have a substantial equity position and a high annual salary ($180k+).
• I invest a small portion of my after-tax income into equity, shares, and funds (Around 10%).
• I am building a one-person business part-time on the internet with a mixture of a recurring productized service (ghostwriting), content creation, and digital product model (currently generates $6–7k AUD per month).

Do I work a lot? You bet…

I never said building wealth would be easy.

But I use #1 and #2 to make sure that I don’t burn out.

Build or own a business. Or die trying.

I’m doubling down on building an audience.

Here are my goals for the next 12 months:

• 50,000 Medium Followers.
• 10,000 Email Subscribers.
• 1,000 Twitter Followers.
• $10,000 per month (avg) from my one-person business.

Here’s how I’ll do it:

• Creating a customer avatar: I’ve become crystal clear on the problems I want to solve and the people I want to solve them for. Who? Part-time entrepreneurs, side hustlers, and creators who have a traditional 9–5 job but want to build a one-person business on the side.
• A suite of free lead magnets: With this customer in mind, I’ll map out all their problems. Here’s a quick list of challenges: Starting a one-person business, Establishing a one-person business, Making Your First $1,000 Month, Making Your First $5,000 Month, Making Your First $10,000 Month, Making Your First $20,000 Month.
• Economy of Scale: My Medium articles are repurposed in my email newsletter. My email newsletter can be broken apart into Twitter Threads. I can combine everything I do into a digital product using validated audience data and feedback. The flywheel keeps spinning from one action.

Building an audience is building a distribution channel.

• Social media = rented distribution
• Email list = owned distribution
• Affiliates = borrowed distribution.

All are necessary.

Build an audience, and then you can build whatever you want.

Building wealth is simple, but not easy.

2024 is going to be a big year. I feel slightly scared.

But if you don’t feel some level of anxiety about your goals, they aren’t big enough.

So, here’s the roadmap I’ve set for myself:

• Invest in my skillset, mindset, perspective and experiences.
• Be ruthless about where, how, and who you spend your time with.
• Understand how to build, own, manage, and grow a business.
• Build an audience of loyal fans, followers, and community members.

Nothing complex.

But all impactful.

Grab your FREE copy of my short e-book (and mini-course) — How To Start Your Next Six-Figure One-Person Business In Six Easy Questions 🔥