by: Debra Lea Thorsen
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 does not 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.
About The Author
Find out how to break free from the corporate world. Debra Thorsen helps individuals create real wealth and happiness without 9 to 5 jobs. Visit fearlessguides.com for free tips on career change, wealth building, and living without fear.
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