Tell us how you could create more free time by re-thinking the way you make money.

What you submit is entirely up to you. It can be a few simple sentences, a video talking about the idea, a visual process design – whatever clearly conveys your plan to have more time to experience life without financial stress. It can be based on your existing source of income or an idea for a better one. Content is all we care about. An elaborate presentation of a bad idea will lose to a good idea presented in one sentence.

The only submission criteria is that your idea must reduce the amount of time you will spend working once it’s done. Your idea should consider outsourcing, streamlining your process, creating products to replace services, and more.

I am most interested to see how your existing income stream can be re-invented to leverage automation, process definition, outsourced delegation, and elimination of low-value activities.

Think of this as Extreme Makeover: Lifestyle Design Edition. Please do not force yourself to focus on an existing business if there is another idea that is more compelling. Just make me feel your passion to own your time and be financially comfortable.

(It’s assumed that all proposed ideas would naturally require up-front time investment for production or creation. That is not a factor in judging. I’m only concerned with the your approach to fueling a lifestyle without constant, heavy time investment.)

Some idea kick-starters

• Freelancers: Can you turn a service you offer into packages or a product? You do not have to eliminate all service-based elements, but simply reduce the overall time input it demands.
• Speakers and consultants: Can you turn in-person/phone sessions into self-guided learning or development courses?
• Teachers: Can you convert common classroom needs or challenges into something other teachers would purchase?
• Web/Graphic Designers: Could you spend less time on one-time work and more on templates or stock creative sold in online design marketplaces?
• Developers: Can you find a way write less code or re-use what you’re building? Can you turn common challenges into something you can re-sell?
• Writers: Can you find a way to get more income from each piece your create? Can you publish a book and automate its sales?
• Creating information products based on any specialized knowledge or area of interest; translating any product into new markets or adapting to different cultures

Sourcecontrol: More than suggested reading

Writing Sourcecontrol 100% inspired this contest. It is focused exclusively on entrepreneurial outsourcing & reclaiming your time. This competition is not about pitching us a random muse idea, but rather to challenge you to extend your capabilities and time-ownership by creating smart process and eliminating or delegating low-value activities.

I strongly considered eliminating all non-serious entries by making the purchase of my book required to ensure everyone had the same base to work from. I’ve decided not to go that far, only because I know sometimes the greatest idea can be sitting in the mind of someone with an empty bank account. We’ve all been there. That said, purchasing and reading Sourcecontrol should be viewed as you would a college textbook (except enjoyable & simpler). Yes, you can get into class without it, but you’re probably screwed when the test comes. Re-thinking your income requires re-thinking your approach to doing work, and I’d love to see you take advantage of the book so you can approach the challenge with the same advantage as others who pick it up.

Get Sourcecontrol Now (Special release pricing, only through September 11th)

Prizes

Grand Prize (1)

• $500 towards the plane ticket of your choosing, courtesy of Muselife
• Free copy of the upcoming M6 Creator software
• 1-hour strategy session with myself to discuss implementation of your entry
• Showcase of your winning entry on Muselife.com

Runners Up (4)

• Free copy of upcoming M6 Creator software
• Presentation of your short-listed submission on Muselife.com

Judging

• A short-list of 5 entries will be selected by Muselife; we will present this list on the site, as well as share the pre-defined set of criteria we’re using to decide
• The top winner will be chosen by the readers by anonymous vote. If you’re in the top 5, you’re encouraged to do whatever you choose to share or promote your entry within your own community or network.

Deadline

Entries are to be submitted via email to contest@muselife.com.

Sunday, September 11, 2009

All submissions must be received by this date.

Sunday, September 18, 2009

Short-list will be announced and judging opened to all. Voting will remain live for one week. If you’re the winner, I’ll be in touch to coordinate your ticket and the rest of your prizes.

Questions?

We’ll be answering any questions posted as comments on this page. Please post them here so everyone can benefit from the response.