What are the
best ways to make money?
If you answered, “a
job”, then you have been brainwashed like most Americans
into believe that working for a company is the best way to
make money. It is absolutely NOT one of the best ways to make
money. Why not?
Most jobs have the following
problems:
1. The time trap. You are
trading your time for money. Even if you are a salaried employee,
you are accepting a salary for a set number of hours that
you will work each week. If you don’t work, you don’t
get paid. Most companies want you to work the most amount
of time for the least money and you want to work the least
amount of time for the most money. The job game is a lose-lose
game.
2. No passive income. If you
stop working for any period of time, you stop receiving paychecks.
Your money doesn’t work for you.
3. No intellectual capital.
If you are an employee, your company owns your intellectual
capital. It’s like your company owns your brain. You
cannot sell or share your ideas and earn money.
4. No control. You have no
control over your work life and therefore your life. You cannot
choose where you work, when you work, or who you work with.
Most companies require a lot of “face time”. Even
if you could get your work done in 4 hours each day, you usually
need to spend 8-10 hours onsite to prove that you are a “loyal
employee”. You have no control over most of the decisions
that are being made at your company. Bad decisions made by
others could put your company out of business and then you
get “downsized” or “rightsized” or
simply laid-off.
5. No leverage. Entertainers
and professional athletes make lots and lots of money because
they have leverage. Millions of people watch them. They can
make one movie or play one game a week and make buckets of
money because they are reaching a huge audience with a few
hours of their time. In a job, your efforts reach a limited
audience. You cannot give a speech to your department and
record it and then turn it into a teleclass that you sell
over and over again on your website. You have no leverage.
So, what are some better ways
to make money without going to a job?
1. Start a business. Yes,
lots of businesses fail. But small businesses are the engine
of growth in this country. It took Bill Gates 10 years to
become a billionaire with Microsoft. It took Michael Dell
5 years to become a billionaire with Dell. What you need is
a solid plan and then the courage to execute the plan and
the discipline to market your products or services consistently.
There has never been a better time to get rich by starting
a company. What are your goals? When do you want to achieve
those goals?
If you want to start a business
quickly and don’t have the necessary business fundamentals
or want a pre-designed, proven system, then look into joining
a network marketing company. If you can find a product you
love, a company with a proven marketing system and a management
with integrity, you can develop a great passive income stream.
Do your own research and see
if it makes sense for you to start your company from ground
zero or join a network marketing company. There are lots of
good network marketing companies to choose from. (There are
also lots that aren’t such good bets.)
2. Real Estate. Isn’t
this risky? There are no risky real estate investments, only
risky investors. You can minimize risk through education and
experience.
Don’t you need money
to get into real estate investing? For most commercial real
estate deals, yes. But you can succeed with no-money down
investing in the residential arena. In fact, it may be better
to start out investing with no money of your own because you
will only do great deals. You will not waste any of your money
chasing marginal deals.
Land is in limited supply,
especially near the oceans. Land will almost always increase
in value. There may be some small “corrections”
in the short term, but if you invest in the right areas, chances
are they will appreciate. Plus, you can learn to make money
in up and down markets.
3. Investing in other companies.
Many people put their money in a mutual fund or index fun
and are happy with 5-10% appreciation each year. But, there
are other ways to invest. Investigate individual stocks. What
products and services do you love so much that you tell other
people about them? Remember, you make a profit when you buy
not when you sell. It is impossible to know what the future
holds. Do your homework. Find stocks that are bargains today.
4. Selling your intellectual
capital. Another good way to make money is to develop products
and services around your ideas. These could include books,
tapes and CDs, workshops, videos, etc. This is a great way
to create passive income streams.
My purpose here is not to
give you a roadmap for becoming a CEO or a successful investor
but to open your mind to the possibilities. There are so many
great opportunities. If you are staying in a job that you
hate because you think it is the best way to make money, then,
think again.
More Articles On Money
(Money
Tree Pt 1)
(Money
Tree Pt 2)
(Money
Tree Pt 3)
(4 Ways
To Make Money)
(3 Astonishing
Facts About Fast, Easy Money)
(4 Steps
To Control Your Money)
(The
Trick To Money Pt 1)
(The
Trick To Money Pt 2)
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