Leveraged income to build Wealth (You Can't Get Rich Working For Money!)

You Can't Get Rich Working For Money!

By Sherwood Lummus | Submitted On June 26, 2008 | UpDated May 4, 2023

This article discusses the two aspects of working: working for money and working to build wealth.

Wealth allows you to spend more time with your family and friends - doing things you enjoy in life.

Every human being has basic needs. Our needs include food and water, clothing and a place to live (shelter). There are some things that are called "a want" instead of "a need." Some people give toys as an example of a want. I would like to define Toy as things that bring pleasure, like a vacation. Some doctors have come to realize that "play" (toys or vacation) is a human need. You are probably asking what does this has to do with working for money or to provide a product or service.

When we can provide the basic needs of human being, we have taken the first step towards making money. Keep in mind that we need things of pleasure as much as we need "food, shelter and clothing." In order for us to get the things we need, we either has to produce (make) them ourselves or we have to buy them from someone else. For example, some people make their own cloths while others only buy their cloths from a clothing vendor. Some people get great pleasure out of building their own home, while most of us have to buy our home. And, some of us may have a vegetable garden, but the bulk of our food comes from the market.

Think of all the things that people need. Now, think of what you can provide (at a profit) then set out to fulfill someone's needed. This is the second step towards making money.

Some people work at "Jobs" to provide other people with goods and services. When you work at a job, you earn money so that you can also buy goods and services. The amount of money you can make is limited. Your employer has a fixed salary which he can pay you. Plus there are only a set number of hours you can work a day. Working a job is working for money. That is, you settle for a set amount of money you feel your service to the company is worth.

When you work to produce a service or a product, you can make an unlimited amount of money. You can create a Business that employ others who wish to work for money. When you provide a product or service, the amount of money you make is not limited by the number of hours you work nor is it limited by a fixed salary. You can set the amount of time you spend working and the amount of money you will receive for your products or services. The value of what you sell is a perceived value based on supply and demand of your customers.

In order to make the greatest amount of money, you have to provide a product. Providing a service, in most cases, is more limited than providing a product. So, if you desire to make the greatest amount of money, provide products that appeal to the greatest amount of people. You can either make your own products or you can get them from another source. Either way, you will have to have a strong concern for the people to whom you wish to sell your products.

When your concern is to supply the needs of the people with the best product available, you are well on your way to making a lot of money. So think people and products first and the money will follow. Work for the people and they will supply you with money. I.e. provide 1 million people with a product at a $1 profit and you have made $1 million. The rest is simple math. It seems simple anyway. In fact, the only hard part is to figure out what product you can provide at a profit that 1 million people will buy from you.

This is being on the leading edge of a trend. Once everyone is selling the same product or some similar product, it is harder to make a lot of money. The best way to be on the leading edge is to create your own products that 1 million people will desire. The easiest and fastest product to create is "articles." Almost everyone in this information driven age are looking for some form of information. Just pick a subject that interest you and research and write about it.

Some experts say don't write about money and income opportunities because there is so much information already out there on these subjects. I'm not an expert, so I say write about money if you so desire. There are more than a million people who are looking for money or ways to make more money than they already make. Your contribution to the subject may just be what they are looking for. Some subjects you may not want to write about, like boating in the desert. I may be wrong, but I doubt if there are many people who are interested in boating in the desert.

You can't get Rich working for money! So, if you want to make a million dollars, find a subject that will interest 1 million people and that you feel you can share a unique perspective on, and then write about it. You could be the next millionaire.

 

Passive Income to generate true Wealth!

Passive income is income that requires a minimal amount of effort to obtain. With the advent of the internet, it has become much easier to earn a passive income. Another name for passive income is Residual Income and Leveraged Income.

Residual Income is the income you keep earning around the clock, month after month, year after year. You earn Residual Income from work you do just once to earn money and the income continues to come in. Example of such work is writing a book or recording a song and getting paid over and over again in royalties.

Leveraged Income is the art of earning money through the efforts of other people. Network marketing is a form of leverage income. Network marketing relies on a network of independent affiliates to sell a product or a service. It become very popular with people looking for a business opportunity which they can work part-time with flexible hours.

A proper frame of mind is necessary to earn money. The right frame of mind will allow you to move from making money to creating true wealth. And, wealth is more important than money! Wealth is defined as an abundance of valuable resources. It can include money, however, wealth is a lot more than just the money. Wealth can be an abundance of friends and family.

Do you wish to spend more time with family and friends? You can when you become the master of your own destiny. Generate Passive (Residual / Leveraged) income, you can Be Your Own Boss, spend more time doing the things you really enjoy in life!

 

Sherwood Lummus is an Affiliate Marketer for several programs.
We help you awaken your psychic ability (power of your mind), heal imperfections, create abundance, manifest dreams, and discover hidden talents through techniques to empower, enlighten and transform your life.
Https://profitincome.biz

 

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