Ways of earning money is something that has triggered a lot of questions from many people around the world, much more when it comes to earning millions. But for a lot of entrepreneurs who have become successful in their businesses, there are plenty of ways of earning money. They have discovered the ways that is why it is easy for them to make millions.
Ways of earning money in three ways
Three basic ways are suggested: trade time for money, trade money for money, and trade expertise for money.
The last one is how entrepreneurs are making millions. Before we explore that, let us discuss the first two ways of earning money. The first method—trading time for money—is what the formal educational system taught (and has been teaching) us. In other words, you finish school and work for someone else to get paid. If you want to be a millionaire, working for someone else will not make you one. Instead, you work at least eight hours a day yet at the end of the day, you are tired and does not have much money.
If you have plenty of money, go to the second of the three ways of earning money. Trading money for money us the method used by only a small portion of the population. How do they do it? Well, they invest their money, mostly in the stock market. Investing can be risky for those who don’t have extra funds. In other words, this scheme is really meant for people who have extra money after paying their bills and buying their necessities.
Trading money for expertise: best way to earn money
The best option to earn money is the entrepreneurial option and this involves trading expertise or value for money. Many entrepreneurs use this method. When you are an entrepreneur, your schedule is flexible; more importantly, you work less but earn more. This is considered as one of the most effective ways of earning money since you can make thousands of dollars a day without getting dead tired at the end of the day.
When you are an entrepreneur, you start a business. You dedicate your time and effort to make it a success. Eventually, you get to hire people who will work for you. And then you have more free time but you still earn since the people you hire will be the ones who will run your business.
Ways of earning money through Intellectual Property
Anyone can create intellectual property. You don’t need to become a rocket scientist to create this. Intellectual property refers to the creations of the mind. If you are a writer, you can have your writings published under your name and sell it as an e-book. E-books these days are a big thing, with six out of 10 American adults surfing the Internet on daily basis. Take advantage of this by creating an e-book. You can also create video tutorials that will teach people about what you already know. Allow them to subscribe to your videos for a small amount.
In order for this to work, you have to figure out first what you are and what can you or are you willing to give to others. Do you have valuable information that you want to share to other people? If you are a web designer, you can use your talent to help other people learn how to design their websites. If you are a great speaker, you can use your talent to teach people whatever it is that you know. If you are involved in arts and crafts, you can help people with creative inclinations to explore their talents in the arts. There are plenty of ways of earning money for people with entrepreneurial minds.
If creating and selling intellectual property is one of the best ways to earn money, why is it that not everyone is doing this? You have to go back to the first of the many ways of earning money: the formal education system along with societal beliefs have so much influence in the way we think and do things. We are taught to finish school and become an employee of big companies. We are taught that successful people are those who finish school and earn degrees. Seldom does the entrepreneurial spirit promoted; much less the ways of earning money that entrepreneurs adopt.
If you want to become a millionaire, do what millionaires do. Learn the ways that entrepreneurs employ. When you learn these, apply them gradually in your life and surely, you are on your way to make your first million.