How to Make Lots of Money
May you have love that never ends, lots of money, and lots of friends. Health be yours, whatever you do and may God send many blessings to you. ~ An Irish Blessing
In these pages, we’ll explore the process, the principles, the thinking, and the actions necessary to have lots of money. Among other factors, it is a different way of thinking, a way of thinking we weren’t taught in school. We’ll learn from people who have lots of money. We will read their books and glean what wisdom we can from their words, the principles they live by, their way of thinking, and their actions.
How can you make lots of money instead of barely paying the bills? It isn’t a question of the way you were raised. Growing up in the same family, often brothers and sisters will have very different levels of wealth. Working hard is only part of the formula. Lots of hard working people die broke. Wanting it, wishing for it, creates frustration, and only rarely, success. I used to hear growing up, “If wishes were horses, beggars would ride.” What does that even mean? But it is true that being able to visualize a future with lots of money is part of the process of manifesting a lot of money.
What is the process? How do you make a lot of money? Just as importantly, how do you keep it?
Let’s dig in!
One of my favorite teachings on wealth is by Robert Kiyosaki, the famous author of the book “Rich Dad, Poor Dad.” His next book, “Rich Dad’s Cashflow Quadrant: Guide to Financial Freedom” contains a major truth that I wasn’t taught in school. See the Cashflow Quadrant diagram below.
I was taught to “go to school and get good grades so I can get a good job.” Were you taught that also? There is another way. Who knew? The wealthy people knew.
According to the Cashflow Quadrant, there are four (legal) ways to earn lots of money.
1. The “E” quadrant stands for Employee. You know, that thing you do when you set the alarm to get up at an unholy hour, and usually you drive to work, clock in, and do what somebody else tells you to do for several hours. And then you go home, crash, and get up and do it again the next day. People used to work for the same company for some forty years. When they retired, sometimes they received a thank you and a golden watch. That’s not working out quite so well recently. J.O.B.s, Just Over Broke, are often part time, conditional, and you may have multiple jobs over the forty year span. It’s possible, but rare for one to get rich this way.
2. The “S” Quadrant means that you are Self-Employed. You own a job. Or does it own you? You don’t have a boss. You have many bosses, your customers. I talk to many self-employed people throughout the day. The economy has changed for them. Most of the folks I talk to in this quadrant are stressed, don’t have time to talk, much less relax and smell the roses, and work long hours.
People in the “E” and “S” quadrants trade time for money. Even if they are well paid, there is a limit to how many hours they can give. Time is more valuable than money. Have you figured that out yet? You can always get more money, but you can’t get more time: time to read and learn, time with your family, time to do whatever you want.
95% of the population earns their money in the “E” and “S” quadrants. They control 5% of the wealth. 5% of the population earns their money in the “B” and “I” quadrants. They control 95% of the wealth. The most likely way to create lots of money is to earn our money in the B” and “I” quadrants, like most of the truly wealthy people do.
3. The “B” quadrant stands for Business, meaning that they own a system and build teams of people. The test of a true “B” business owner is if you can leave your business for a year or more and find it more profitable when you return. Can you make a better hamburger than McDonalds? Can you create a better system for selling hamburgers than McDonalds? Ray Kroc created extremely successful systems in food service automation, franchising, training and advertising. There are two ways to own a system, create a system, or join a system. Unless you are a systems genius, it is far easier to join a system. Fortunately, there are systems geniuses that have created some fantastic business systems. A good system will give you an opportunity to make lots of money. A GREAT business system will teach you, step-by-step how to make lots of money.
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4. The “I” quadrant is where your money makes more money. It is the quadrant of risk. According to Robert Kiyosaki. “Many people come to the I quadrant hoping that investing will solve their financial problems. In most cases, it does not. Investing only makes their financial problems worse if they are not already sound business owners. There is no scarcity of financial problems.”
Robert Kiyosaki says, “Your best ROI is not a return on your investment, but a return on your information. This is why a financial education is essential, especially for the uncertainty of the world ahead.”
That’s what we’re doing here, getting a financial education. More information on how to make lots of money will follow.Follow us
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