Most every person longs to make more money, receive that promotion, or get a raise. Unfortunately, this thinking is what’s holding you back from really opening the floodgate to a bigger paycheck.
When I was in college, I worked at a local grocery store for hourly pay. The money was good and the hours steady. But one day I realized what a mess I’d really gotten myself into. I realized, there was no way I’d ever be rich selling my time.
In the oilfield, hourly workers will routinely receive $22 -$50 an hour. That sounds like good money until you realize one simple thing. It won’t scale.
We all long to work fewer hours and make more money. Did you know that Warren Buffett, currently the third richest man in the world, sits in his office all day and reads? How can he make money by sitting around and reading all day?
Mr. Buffett has learned to follow the business model of the rich. It’s the only one that scales and I’m going to share it with you right now so you too can make more money for the rest of your life.
1. Create – The first step is to create something of value. Steve Jobs created iPhones, Warren Buffett buys businesses, Stephen King writes books. In either case, the person now holds something of value.
2. Launch – Your valuable creation is worth nothing if you can’t get people to buy it. To learn how to launch, see my 3 step sales method I used to turn a failing small business into the largest manufacturer in our industry.
3. Scale – Move more of your creation. In Apple’s case, this would mean opening sales globally. Mr. Buffett puts managers in place to help grow the businesses he buys. Stephen King scales his books by trying to get them to become movies that earn him huge royalties.
4. Add Value – Apple constantly improves the iPhone all the time, we’re on version 6 currently. People always want the best they can get and are willing to lose their old one for the new one, even if they’re essentially buying the same thing, just a little better.
5. Repeat with another creation – Once the iPhone was out, Apple created the iPad. Once Warren Buffett buys a business, he uses the dividends from that business to buy another. Once Stephen King finishes one book, he writes another.
The key to this process is that once creation A is helping you make more money, you can create creation B, doubling your money. Once creation A and creation B are helping you make more money, you can focus on creation C. By the time you get to creation F, you’ll make more money than you ever could have made selling your time.
My FREE eBook on the top right of this page will help you learn the principles you need to put this plan into action and help you make more money right away.