Is there any new money being injected into the system? Is any new wealth being created?
This is something I’ve heard time and time again over the last 8-10 months if not years. I’d like to share my thoughts on making money if you’ll bear with me here. The easiest way to make money is when someone is already spending it. In other words, the closer you are to a money stream, the easier it is.
Here are some examples:
-banks skim off the top of every transaction. They are right there next to the money so they just take some of it in the form of fees.
-real estate brokers skim money off of big transactions via commissions. Again, be there when the money is being transferred.
-stock brokers make money whether you do or not. They charge for the buys and sells. All they do is make money all day long.
Once you have this mindset, you can start to look for where transactions are already happening so that you can skim off of the top.
Examples include:
-affiliate marketing where you get in between a buyer and seller to make a commission off of that sale
-general contracting where you skim profit off the top of a large bid for smaller bid sub-contractors
-reviewing things you buy everyday to see if there’s any way you can get paid by spending money – use this for discovery only as you want to use other people’s money to make money
What I’m really talking about here is how to get money without taking it away from someone else. Is there any new money being injected into the system? Is any new wealth being created?
Napoleon Hill talks about a man starting with nothing but an idea for a service he can provide. He gets someone with money to pay for his service and thus income had appeared from an idea. But the guy who paid now has less money – unless that service allowed him to make more money.
There are three traditionally successful products and services that always have and always will make money:
- save someone time or money
- make someone more money
- fix a problem or frustration
Now there are other things like teaching, the arts, and sports, but even those things solve problems of lack of knowledge, boredom, and lack of fun. Speaking of sports, there is no shortage of money being spent in that field/arena.
So how do YOU make more money?
- become an employee
- sell something people want
Being an employee is less risky, but you have less control, less freedom, and the moment you stop working, you stop getting paid. Being independent means more bosses, less frequent paychecks, but you get paid on value, not time and if you do it right, you get paid over and over again for the same work.
If I had to do it over again, I would have learned to code programs, but I’ve helped a lot of people by being who I am now. There’s a need in the market for people who understand technology and can talk to people. You are a great front man. I think you should run for office.