If you are reading / following this blog, you probably want to create wealth or achieve success. In this time, I am going to take exact opposite approach.
Do you know one thing definitely does not make you wealthy?
This topic is coming from the podcast I was listening to. The person was talking on the podcast is the very successful startup founder in tech industry. What he said is very true and I like the answer… That is,
“You will probably never become wealthy though renting out your time”
You might hear this so many times especially if you’ve been in the business or investing for a while. Especially, I liked what he said next.
“There is many reasons for that (why we are not going to be wealthy by working for somebody else) but one of the major reasons is that your input is closely tied to the output if you are working”
If you are working for somebody else for hourly wage, you can only earn from the value that you put in an hour. How many hours we have a day? Only 24 hours a day, 168 hours a week, no more no less… If your input is closely tied to the output, your income will be extremely limited. What that means is
- If you are taking vacation, you are not getting paid
- If you are sleeping, you are not getting paid
- If you are retired, then you are not getting paid
Some might ask, “how about lawyer or doctor?”. Even if they are making higher hourly rate than most of the job, still their input is closely tied to their output. So, yes, they make more money than hourly blue color workers but their income is limited to the amount of time that they put.
So many might ask how to create wealth? His answer was
“If you want to become wealthy, you just cannot find the work that getting paid linearly. You need to find the business or endeavor that paid non-linearly.”
How to do that? Then, he started to talk about concept of leverage. He said it is critical to utilize leverage. Otherwise, we will NEVER become wealthy… That’s the next blog.
I hope you got great value out of this blog post. If you want to learn how to attract quality leads by using Meetup, you might want to get my brand new free video study course called “How To Leverage Meetup To Build Your Home Business”. You will learn exactly how I use Meetup to get, attract and grow list of prospects. You can just click on the right hand side of banner, enter the information to claim this totally free video study course.
P.S 1: Do you want to become master in sales and business? If so, I am personally learning from Grant Cardone. He is absolute master when it comes to sales and entrepreneurship. Especially, books like Closer’s Survival Guide, Sell or Be Sold and 10X rule is excellent. If you want to learn more, click here.
P.S 2: Best way to communicate with me is through Facebook, you can join my Facebook fan page. I sometimes discuss the topic that I don’t mention in the blog site. If you want to join the community, click here.
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