Do you want to make money? Everyone is out there chasing after his/her dreams while indirectly chasing after money.
Whether it is investing in education, a skill, or a side hustle, the product is making enough money for one to enjoy the luxury of financial freedom.
There are four main ways to get money;
1. You trade your time for money
It is what most jobs are. There is nothing wrong with a job. Many people may tell you to quit your job, but no! There is nothing wrong with having a job and it’s better than doing nothing.
However, it is the first level of making money. With a job, you give up your time for some cash.
The problem is you only have a certain amount of time and that is a limiting factor. You need to eat and drink; you need to sleep and do other kinds of stuff. You have not gotten time to sit there and get rich that way.
The more valuable your time is the better.
2. You trade information for money
The good thing about getting information for money is that your time is not explicitly linked. So if you do something like a video giving information, that video you can make it one time but it can be given out or sold a million times and you will receive payments all the time.
Nevertheless, your time is no longer linked to money.
Therefore, many people make money purely on information and this can be done in lots of ways, just like what am doing right now. Am making money based on what I know.
I know the information and I provide you in form of blog posts. Information is very valuable in this era.
The two most important things in the world today are Information and Attention.
If you have information and you can get attention, you will be rich. So take time to reflect on what you know that other people do not.
Information for money is better than time for money.
3. You give a product or service for money
This is what most businesses do. They provide a product or a service for money.
It is different from the information in that even if, let us say you know how to fix a car, you are not selling the information, and rather you are selling the service.
Mega businesses buy or get a product or service and sell it for a markup.
It is difficult to become rich this way because most products are monopolized. Everyone is selling something and we live in a global economy now. There is no product you can think of and you will not find alternatives or cheaper sources.
In addition, if you are providing a service, you are still giving up your time for money.
4. You put something to work for money.
This is what corporations and mega-rich people do. Either they get people to work for them or they get their money to work for them.
Therefore, to keep their time, they make other people or other things to give up their time.
These are some of the ways you will receive money in your bank account. Which other ways of making money do you know? Share with me in the comments.
Thanks for reading.