The 1000 dollars per hour job.

So today I was taking a nap which gave my mind time to think about stuff that I wouldn’t normally think about so I came to the realization that 1000 dollars per hour is not only a realistic salary but easier to reach than you might think…

Sleeping to me is the best time to explore new seemingly crazy ideas. One of those were: how can a lawyer possibly charge 1000 dollars per hour? That came from a video talking about Bill Gates’ lawyer who charges up to 1 thousand dollars per hour and this article.

Just to give you an idea of how much money that is, it only takes 1,000 hours to make 1 million dollars in pure profit, that’s about 4 months of work. Or 100 days earning 10,000 dollars per day working 10 hour daily. A lifetime of working non-stop for most people can be achieved in less than 4 months with the right strategy. Most people can’t even come close to those numbers so, how did this lawyer and many more people do it?

In this article you’ll learn strategies to make it big in these industries:

1. Software Engineering
2. Writing
3. Industrial Designing

With a quick recap of the most important points that you can take home for remembering the core ideas.

If you want to charge such crazy numbers you have to understand a few things:

• Only people that have more than 10 million dollars will be able to afford it since we can confidently assume that most lawsuits take several hundred hours to be completed which would end up costing a few hundred thousand dollars in total. That could amount to a 1% of the net worth in costs for that person, which is reasonable for such a critical job.
• The lawyer must actually be famous and well respected in the community. Someone with an excellent reputation. Someone that worked with rich or famous people in the past and provided them with massive value. I’d say that as long as you work with someone famous your reputation is guaranteed.

Now what kinds of crafts can charge big dollars per hour? Let’s go through some popular professions to see how a professional in that sector would go about earning gigantic hourly rates.

Software Engineering

As a software developer you could end up reaching the 1k dollars per hour mark if you create products for famous companies that want exclusive high quality applications. Following is a strategy to work for those companies so that you can build your reputation with a high salary.

First take a look at the software products that you use daily, those that you’re really familiar with. Because when you’re familiar with a few applications, you probably have a much better understanding of what’s good and what must be improved. Create a list of improvements for a given application by finding the problems and providing a solution. For instance, I use youtube a lot so I understand some important issues that they are facing that need immediate solving such as:

• Advertisers leaving the platform because of controversial content created by influencers with a mature userbase.

Turns out that many big companies don’t want to pay for ads if their videos are somehow related to an agressive public with radical ideas or just with people that bring a negative influence to their brand.

This is an ongoing issue that is causing youtube to lose millions of dollars that needs a fix before the influencers leave to a more profitable platform. How could you solve it? By creating a tool that advertisers could easily use to verify the type of audience that will view specific content.

Like a predictor that gives you a persona of who’s watching what content by discovering the most common behaviours of those users so that companies can get a better idea of who will see their ads so that they can optimize for better results.

For instance, let’s say a company wants to promote a new car. With this tool they could find the channels with audiences that are most likely to be interested in the specific brand offered, people that are particularly interested in a car with distinct features and people that are willing to buy right now.

Facebook does this already because they get much more data from users although youtube can’t because their users are not as social in the sense that they come for entertainment and leave without much afterthought.

A tool that gathers advanced data for such purpose, maybe an algorithm that understands the sentiment and related behaviours contained in that video.

• Expensive video hosting

Because this platform allows people to upload endless amounts of gigabytes to their servers without any cost, it is costing youtube millions upon millions of dollars in storage just to keep that content free for their users. How could you solve it? By creating a separate marketplace of content where people get rewarded for storing encrypted video data in their computers at a much cheaper rate than what it would cost youtube to store such large quantities of data by themselves.

A crowfounded marketplace of data at lower prices given that everybody has lots of unused gigabytes in their computers so might as well use that space for making some money right?

After identifying a few important challenges in an application you’re familiar with and ideating solutions, you’d start working on one of those solutions with as much quality as possible with the goal of selling the product to that company, makes sense?

1. Find a problem for a big company.
2. Solve it with your skills as good as possible, deliver a quality product.
3. Sell them or give them your solution for free in exchange for massive reputation.
4. Charge crazy high hourly rates in future projects if it makes sense and they can affort it.

As a side effect you’ll get to know the insides of those powerful companies which puts you in a position where you can work for them creating products as an independent contractor. That’s without considering the new connections that you’ll make along the way.

The sale price doesn’t really matter if your goal is to build your reputation although it’s highly probable that they end up paying a nice sum of money for a top notch solution.

Another important point to increase your chances of success is that you’ll have to setup a time limit to create such product without quitting. Because without any time limits, you will waste time in distracting activities. It’s the unwritten rule of projects that take as long as you allow them.

That time pressure pushes you further to invest your time wisely. A two week up to a month period should be enough. Remember, the goal is to create a quality product for a very specific problem which shouldn’t take excessively long since you’re working for free taking a risk.

After competing your solution, you’ll have to contact an acquisition manager working for the company that you’re helping since they are the ones in charge of purchasing companies so that they can improve their underlying products. Send them an email and be sure to follow up until you get an anwser.

A hipster acquisitions manager

Negotiate from there while being patient because they will bring up any problems your solution has so that they can integrate it into their platform. Don’t be dissapointed if they are not interested in your solution since it totally depends on their willingness to purchase. In any case you’d know what they are looking for, so that you can build exactly what they want.

It’s important to build the solution first so that they can see that you’re providing value which could benefit the company. If you contact them with just an idea, you’ll probably end up being ignored or not taken seriously.

Writing

There are a few ways in which a writer could earn a 1 thousand per hour salary:

• By writing a successful book that ends ups generating enough money to compensate for the efford.

If you spend 200 hours creating a book that sells 200,000 dollars worth of books, you’ve just earned a 1 thousand dollars salary for that particular piece which gives you a solid reputation for future releases.

• By writing for someone famous as a co-author or ghostwriter.

These are the types of jobs that can really give you massive amounts of reputation if you participate in a popular book development. You’ll benefit from the increase reputation that gives you after working with someone important in the industry.

The question then becomes: how can I approach a successful writer to co-author a new creation? Just like before, you’ll have to create some previous high-quality content that is related to the niche that you want to participate in.

For instance, if you want to co-author a book with J.K. Rowling, you’d have to previously create books related to magic and fiction similar to what she’s done. That doesn’t guarantee that such a famous writer will want to create a book with you but if you’re capable of demonstrating a high enough value proposition with a great reputation, you may be surprised who you end up reaching.

An old school writer, can you imagine collaborating with someone famous?

Of course that’s an hypothetical situation although it doesn’t hurt to think as big as possible since the risk is about the same for smaller than for bigger authors. At the end is just busy people wanting to create the best work they can.

You’d have to do some research beforehand to discover if such author is open to the idea of a collaboration to minimize your risk before taking the leap. Once you participate in a piece with a famous write your hourly rate will skyrocket reaching close to the one thousand dollars mark if not more.

Industrial Designing

If you’re familiar with the world of designing products, you’d know that there are companies that pay a lot of money for those that are capable of creating winning products. Research and development departments have extensive budgets for teams with the experience required for creating great products.

How would you go about reaching a salary of one thousand dollars per hour? Is it even possible? Well the process would be the same as in many other industries:

• Get a strong reputation by creating a successful product or by working with a famous company.

In this case only the top positions are paying such a high hourly rate, many times with shares in the company which are more valuable than a fixed hourly rate. To get that reputation you’ll have to build a valuable product that fits in the culture of a specific company. Nothing beats the “I created this hugely successful product for this famous company” as a reputation builder.

• Do research to find companies with strong R&D investments who can afford a one thousand dollars per hour salary.

Established companies that want to enter a new segment of their market or founded companies with big investements from different industries. Your goal is to direct your focus towards realistic opportunities. It’s a waste of time to try to earn more than 100 dollars per hour in a company that only makes $50,000 in profit per year.

Going back to the software development example, you’ll create a list of existing problems for a particular product with a practical solution that you can implement in 2 or 4 weeks top. You could also have some forward thinking to investigate potential issues that an enterprise will face in the mid to long term.

For instance, if you discover that a video streaming service such as netflix decides to invest in creating their own tv channel, you could foresee the potential problem of not establishing themselves in a particular niche ending up as a general channel that doesn’t have a strong following.

In summary, become great at recognizing the moves that big companies are taking so that you can take advantage of new future challenges until you benefit from an improved reputation because you helped them.

Think about it, a 100 dollars per hour salary is not that uncommon for specialized industries where there’s plenty of opportunity. If a company gets 1 million dollars in founding, they can afford such rates.

The way to get a 1,000 dollars per hour salary goes in the same direction with a company that has 10 times more money, between 10 or 100 million dollars in founding looking for talent that can direct them to a successful outcome.

Thinking big is not some kind of abstract concept, is a mental framework for taking advantage of opportunities that exist for those that are willing to become valuable with the reputation to be hired by the richest companies in the world. Particularly recently-founded companies looking for talent or rich individuals willing to invest in the best of the best.

To recap

In order to get paid such a high hourly rate you must:

• Have a strong enough reputation so that people can trust you with their hard earned money. You get this by helping famous individuals or companies with as much value as you can upfront, normally by improving their existing products.
• Create a list of problems and potential solutions that you can implement with your current skillset for helping a particular company save or make more money. Work towards that solution with a limited timeframe such as 2 or 4 weeks to be the most productive.
• Do as much research as possible to find out what moves specific companies are making so that you can predict future issues in the mid to long term that you can solve that way you can provide even more value to them.
• Once you established your reputation you can afford to charge an above average hourly rate without major issues.
• Always investigate whether the company that you’re interested in can afford your services. Only millionaries can sustain such expenses.

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