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How to manage your time and income streams effectively
Are you having a tough time managing your schedule lately?
If some of you are having a eureka moment about money-making ideas, and not knowing when to do it and where to fit it in your schedule, then you need to know about the 70:20:10 model.
In this episode of The Tutor Podcast, Neil shares how he uses this model to his advantage as a teacher, a property investor, and a music creator. It’s a matter of organisation and discipline. Easy-peasy, right? According to Neil, the only trick after learning about this concept is to JUST DO IT!
Tune in now to know more about how you can divide your time among your activities.
KEY TAKEAWAYS
- The trick is to figure out how much time you allot for work, business, or anything else, really. Divide them into three using the 70:20:10 model. The 70% division belongs to the core tasks, the 20% is for the secondary ones, and the 10% for the upcoming tasks. You’ll have to remove the time you allot for rest and leisure, just so you know.
- For Neil, the 70% of it is allotted to his foundational activity. It’s guitar teaching that is his ultimate passion and also his major income stream. He still does this most of the time, even today, amid the coronavirus pandemic.
- Another thing is he creates content (blogs, videos, articles, etc.), markets them, then tries to engage with every prospect (i.e. students). He believes that if there is enough of his quality content out there posted, then this can give him a passive income. This can help him move on to the 20% and 10% activities.
- The 20% of Neil’s activity is allotted to building and growing his property portfolio. This also acts as another stream of income. Tasks for this involve property maintenance, finance, budgeting, and looking for investors.
- Since he’s a guitar teacher, he also creates music. This is the 10% division. He writes, composes, and records. He’s got a million ideas, and he needs to transform it into something valuable.
BEST MOMENTS
- “If I can make the fun things that I get paid for more fun than the things I don’t get paid for, then working 7 days a week should be a no-brainer!”
- “It’s very risky to have one income stream.”
- “If you use it, it’s gonna work.”
- “Having only one income stream leaves you very vulnerable.”
VALUABLE RESOURCES
- Listen to The Tutor Podcast on iTunes (https://podcasts.apple.com/us/podcast/the-tutor-podcast/id1369191372)!
- Read the Weird Things Guitarists Do book by Neil Cowmeadow which is available now on Amazon. Link - https://www.amazon.co.uk/Weird-Things-Guitarists-Do-Misconceptions/dp/1519026579/
ABOUT THE HOST
Neil Cowmeadow is a maverick peripatetic guitar teacher from Telford with over 19 years’ experience in the business of helping people. Learn how to start, grow and love your business with Neil’s invaluable advice and tips without the buzzwords and BS!
CONTACT METHOD
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By Neil Cowmeadow
4.5
1010 ratings
Are you having a tough time managing your schedule lately?
If some of you are having a eureka moment about money-making ideas, and not knowing when to do it and where to fit it in your schedule, then you need to know about the 70:20:10 model.
In this episode of The Tutor Podcast, Neil shares how he uses this model to his advantage as a teacher, a property investor, and a music creator. It’s a matter of organisation and discipline. Easy-peasy, right? According to Neil, the only trick after learning about this concept is to JUST DO IT!
Tune in now to know more about how you can divide your time among your activities.
KEY TAKEAWAYS
- The trick is to figure out how much time you allot for work, business, or anything else, really. Divide them into three using the 70:20:10 model. The 70% division belongs to the core tasks, the 20% is for the secondary ones, and the 10% for the upcoming tasks. You’ll have to remove the time you allot for rest and leisure, just so you know.
- For Neil, the 70% of it is allotted to his foundational activity. It’s guitar teaching that is his ultimate passion and also his major income stream. He still does this most of the time, even today, amid the coronavirus pandemic.
- Another thing is he creates content (blogs, videos, articles, etc.), markets them, then tries to engage with every prospect (i.e. students). He believes that if there is enough of his quality content out there posted, then this can give him a passive income. This can help him move on to the 20% and 10% activities.
- The 20% of Neil’s activity is allotted to building and growing his property portfolio. This also acts as another stream of income. Tasks for this involve property maintenance, finance, budgeting, and looking for investors.
- Since he’s a guitar teacher, he also creates music. This is the 10% division. He writes, composes, and records. He’s got a million ideas, and he needs to transform it into something valuable.
BEST MOMENTS
- “If I can make the fun things that I get paid for more fun than the things I don’t get paid for, then working 7 days a week should be a no-brainer!”
- “It’s very risky to have one income stream.”
- “If you use it, it’s gonna work.”
- “Having only one income stream leaves you very vulnerable.”
VALUABLE RESOURCES
- Listen to The Tutor Podcast on iTunes (https://podcasts.apple.com/us/podcast/the-tutor-podcast/id1369191372)!
- Read the Weird Things Guitarists Do book by Neil Cowmeadow which is available now on Amazon. Link - https://www.amazon.co.uk/Weird-Things-Guitarists-Do-Misconceptions/dp/1519026579/
ABOUT THE HOST
Neil Cowmeadow is a maverick peripatetic guitar teacher from Telford with over 19 years’ experience in the business of helping people. Learn how to start, grow and love your business with Neil’s invaluable advice and tips without the buzzwords and BS!
CONTACT METHOD
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