Doubling Your Income: Focusing on the "One Thing"

In 2023, I earned $120,000. In 2024, after reading a specific book and implementing just one change, I doubled my income to $240,000. This article will delve into the principles of that book and how focusing on the "one thing" can dramatically improve your business.

The Downward Spiral of "Busy"

For a long time, I was stuck in a cycle of constant busy-ness. This involved:

• Trying to start multiple platforms (podcasts, YouTube channels, Instagram).

• Overspending time on branding and logos.

• Feeling overwhelmed and scrolling endlessly.

• Setting up complex productivity systems and comparing myself to others.

• Attempting extreme routines, like waking up at 5:00 AM.

This approach leads to burnout and is not conducive to building a successful business. The key is to shift away from trying to do everything and instead focus on what truly matters.

The Upward Spiral of Success: Four Steps

The goal is to transition to an upward spiral of success. Here are the four key steps to achieve this:

1. Forget About Doing It All

The biggest misconception in business, and life, is that success equals doing everything all the time, as fast as possible. Not everything matters equally. The Pareto principle states that 20% of inputs lead to 80% of the results. Some efforts are simply higher leverage and a better use of your time. An hour spent perfecting a small detail is not equivalent to an hour spent reaching out to past clients for referrals. As a quote from the book highlights: "You can become successful with less discipline than you think for one simple reason: success is about doing the right thing, not about doing everything right."

Trying to "do it all" can spread your energy thinly, achieving minimal progress across many areas. Focusing your finite time and energy on one thing can lead to significant progress in that specific area. Stop trying to do it all, and focus instead.

2. Ask Better Questions

To figure out what should be done, ask better questions. Your brain is a powerful machine that will answer whatever you ask it. Asking, "How can I do everything?" will only lead to strategies that try to maximize efficiency across all areas, which is the wrong approach.

Use Gary Keller's framework from "The ONE Thing" which emphasizes asking big and specific questions:

• Small and Broad: How can we make more videos?

• Small and Specific: How can we make 5% more videos this year?

• Big and Broad: How can we make twice as many videos?

• Big and Specific: How can we make twice as many videos in the next 3 months?

Big, specific questions force you to think creatively about the systems and resources needed to achieve your goals. A good example for freelancers is: "What can I do to make $10,000 as a freelancer in the next 3 months?"

Here are some additional question prompts, tailored to different business stages:

• Stage 1 (Making your first $1,000/month): "In this month how can I try to get $1,000 to validate my product or service idea?" Or, "What would I have to put in my product to create a 95% conversion rate?" Or, "What do I have to do this month to get my first paying client to pay me $100?"

• Stage 2 ($1,000 - $5,000/month): "How could I get in front of 10 ideal clients every single day?" Or, "What would I do to get 20 referrals guaranteed every single month?" Or, "What would I do to make lead generation 100% automatic?"

• Stage 3 (Targeting $10,000+/month): "What would I have to do this month to delegate 80% of my tasks?" Or, "What would I have to do to find the top 1% of the talent market and hire them?" Or, "What would I have to do in the next three months to 10x our sales?"

By asking better questions, you will inevitably yield better answers.

3. The Magic Question: Identify Your "One Thing"

The magic question is: "What is the one thing I can do such that by doing it everything else becomes easier or unnecessary?" For example: "What's the one thing I can do to make $1,000 as a freelancer in the next three months such that by doing that one thing everything else becomes unnecessary or easier?" The answer might be cold pitching clients, as that is a direct path to income.

Remember, the point is not to do everything; focus on the action that will have the most significant impact. Other examples of this question could be "What's the one thing you can do to double your organic traffic such that by doing it everything else becomes easier or unnecessary?"

If you're unsure what your "one thing" is, study successful individuals in your field. Analyze their journey and identify the initial domino that set everything else in motion. In Ali Abdaal's case, it was starting his YouTube channel.

This "one thing" can evolve over time. Your focus this week could be finishing your portfolio, while next week, it might be getting that portfolio in front of clients. The important thing is to identify the single most impactful action at any given moment to avoid being distracted by a multitude of tasks.

4. Commit to Your "One Thing"

Commitment is crucial. Many things may be important, but only one can be the most important for achieving your goal. Committing to your "one thing" is challenging, but ultimately liberating. It shifts the focus from constant overwhelm to prioritizing the task that will make the biggest difference.

This doesn't mean you only work on that one thing every day, but rather, it becomes the first thing you work on each day, treating everything else as a distraction until it's done.

Tips for commitment:

• Time Blocking: Schedule dedicated time for your "one thing" on your calendar, treating it as a non-negotiable appointment.

• Saying No: Decline requests or opportunities that aren't directly connected to your "one thing."

Gary Keller recommends time blocking at least four hours a day, but dedicate whatever time you can spare. Even 15 minutes a day can create a powerful habit.

Addressing Common Concerns

But I have five clients! How can I pick the most important one?

Instead of prioritizing a single client, focus on a behavior or habit. If your goal is to earn more, dedicate time each week to learning and training to improve your skills. This increases your earning potential. Instead of obsessing over pricing, websites, and reels, provide an amazing service to clients and invest in skill development to boost your earning potential. This leads to increased income and referrals.

Not all freelance clients are equal. Focus on the 20% of clients that deliver 80% of your learning, joy, passion, and income.

Final Thoughts

Focusing on your "one thing" requires discipline and the ability to say no to distractions. However, the payoff is significant. By committing to your most impactful action, you can achieve remarkable progress and avoid the trap of being busy without being productive.