Almost everyone on the planet makes money from one of this four ways
Many variations but fundamentally four ways
Number one you can make money by working either as an employee or working for yourself, you’re trading your time for money, this is even true for high income earners like a doctor, lawyer, etc.
And as a worker there are only two ways to increase the amount of money you make, it’s either by working more hours or you develop a new skill and you become more valuable, remember that idea of going back to school to get more education? Yeah.
The second way to make money is by selling things, as a copywriter that’s what I do and it doesn’t depend on the time you put into it, because what counts is basically three things which includes
- How good you are
- The size of your commission
- And the price of the things you sell
The third way to make money is by owning things, by owning assets, if you own an income producing assets like rental real estates, you can make money from your rental income,
If you own or run an active business and you know how to lead and build a team you can make money through its profit.
The fourth way to make money is by lending, you can make money by not working harder or even acquiring high income skills or even with profits and salary you can make money on the money you lend on the interest you charge for that money, now we are talking about banks, private equity, venture capital, angel investors,
There are many variations but basically it’s just 4 ways and what does this mean to you
It means that the most efficient and effective way to build wealth when starting from zero is, you have to move from worker to being a closer or a salesperson to owner and eventually after you build up money then you become a lender
So building wealth shouldn’t be complicated