Invest Your Time

^{The Weekly Habit}

^{Last week we asked our 1300+ audience about income and happiness. According to 38% of respondents, peak happiness is between income levels of $150,000 - $300,000. The lowest selection (<10%) was for income levels beyond $600,000+.}

^{My Substantial Wealth Formula}

I reviewed one of my TikToks earlier this week and it caught my attention. Over 89% of viewers rewatched the video at least twice.

The video broke down a unique way to invest your time.

Introduction

Whether you are a software engineer or work in enterprise sales, there is a business owner, founder or small team who is desperate for your expertise.

Equity For Your Time

Many of these early stage companies cannot afford your hourly rate, but offer equity in their company as an alternative. Think of it like your own VC fund, but you invest your time instead of cash.

Most of these startups will fail, but the ones who succeed create incredible wealth outcomes.

Learn From My Mistakes

I received a 2.5% equity stake and received cash compensation from a startup valued at $12M. Long story short, they went bankrupt and it’s worth $0.

I supported the most dysfunctional leadership team I have ever witnessed. The 9 month engagement was a rollercoaster ride to say the least.

It’s Exciting!

Over time I learned to identify good opportunities. For example, I have a 1% equity stake in a bootstrapped company that is on pace to surpass $3M+ in annual recurring revenue.

I spent 3hrs a week with them for 6 months and they exploded in growth shortly after. They gave me equity in exchange for my expertise with financial modeling, sales, and operations.

The Earlier The Better

Like anything new, it will take time to learn how you market yourself, find that first engagement, identify good opportunities from bad, and get into routine of a side engagement or multiple.

My Key Takeaway

The hardest part is getting started. Most major cities have a non-profit venture accelerator, mentorship program, or events. Start there.

Alternatively, offer your services for free. Get a couple engagements under your belt and leverage those experiences to find referrals.

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Question: Did you ever use Upwork or those marketplaces?

Daniel

Personally, I did not enjoy Upwork engagements. They were transactional and not worth it. For example, someone offered $75 per hour to build a financial model. That’s a fair wage, but was not worth it to me.

It’s hard and awkward at times, but I prefer equity stakes because it allows me to get skin in the game with the business and build a deeper relationship with the founding team.

Jack Boudreau

Got a question for me? Share it here!

Thanks for reading, Habits fam. See you back here next week for more.

-JB

Got feedback? Hit reply and tell me what you think…I’m always looking to level up.