Transcript
Right. There are four main ways to gain money.
You either trade your time for money.
You trade information for money.
You give a product or service for money.
Or you put something to work for money.
I'll say that again. We're going to go through them one by one.
These are the main ways that money will arrive in your bank account.
Remember what I just told you guys, the four main things about cash, how it works, how you attack it, identify where it's moving, etc.
These are the four main ways money is made.
First,
is
Time for money. Now this is what most jobs are. And there's nothing wrong with a job. A lot of people are going to come and say, quit your job. No, there's nothing wrong with having a job.
And it's better than doing nothing.
But this is the first level.
This is the first level on how to make money. So what you do when you have a job is you give up your time.
to get some cash. So a guy will say, "If you stand here all day,
I'll give you X amount of money.
And you agree.
You give up your time to make money.
The problem...
with giving up your time to make money.
Is what? Who knows the problem with giving up your time to make money?
I'll tell you the problem.
The problem is, you only have a certain amount of time.
It's very difficult to get rich if you give up your time for money.
Because you have a certain amount of time. You need to sleep.
You need to eat.
You've got other stuff to do. You haven't got the time to sit there and get rich that way.
So time for money is great. And obviously, the more valuable your time is,
the better. That's fine. You can make more. But you still have a finite amount of time. And this is the problem with trading your time for money.
Next is information for money.
Now the good thing about getting information for money
is that your time is not explicitly linked.
So if you do something like a video,
giving information, that one video, you can film it one time, but it can be given out or sold a million times. And you get paid every single time.
But your time is no longer linked to the money.
So a lot of people make money purely on information.
And this, it can be done lots of ways. It can be done with what I'm doing right now. I'm making money based on what I know right now.
I am selling information to you people.
I know information and I'm providing it.
There are also high-level consultants to the same thing. Information is valuable. We live in the age of information.
Another thing I guys want you to write down your notes. Some of the two most important things in the world today are information and
and attention.
If you have information...
and you can get attention, you will be rich.
Because if you can get attention, people are going to pay attention to you. And if you have information to give them, you're going to be rich.
This webinar is an example of how me, a person who can attract attention, who has information, can make money. So information for money is better than time for money.
Now every single person sitting here, there must be something you know.
You know something. You know something others don't know. It doesn't matter if it's how to play guitar. It doesn't matter if it's how to play piano. It doesn't matter if it's how to fix a car. It doesn't matter what it is.
You must have some information that other people find useful.
That information can be weaponized and it can be turned into money.
We're going to get into how to do that later, but it's not actually very complicated.
You need to garner attention.
You need to produce the videos or the subject material or the PDFs or whatever you want to do.
Explain to people what you know.
You need to establish credibility.
So they understand that they can trust you and they will pay for your information.
This is another way to get money, information.
So keep that in mind. Write that down. Because when you write down your piece of paper information, you also need to sit and think, what do I know that other people don't know?
So there must be something you know. And that information is valuable. You have to convince people it's valuable and to come and buy it from you.
Next.
This is what most businesses do.
They provide a product or a service for money. Now, this is different from information. Because even though if you provide a service, you have information. Let's say you fix cars. You know how to fix cars. You have that information.
But you're not selling the information.
You're selling the service, which is different.
The information would be selling me a book on how to fix my own car.
The service is coming here and to fix it for me.
So a product or service, selling for money. This is very, very simple. This is what most businesses do.
They get a product or a service and they sell it for a markup.
Now, this is actually...
This is the way that most mega businesses make money. But in the modern world, it's quite difficult to do. And it's difficult to do because most products and services are monopolized.
They're monopolized because everyone's already selling everything.
And we live in a global economy now.
And there's no product you can think of.
that I can't go to Amazon.com and find cheaper from China, and they'll sell it at a one penny, maybe two penny markup.
So the product...
Root is getting harder unless you're very, very unique and you build a brand, which is something we're going to get into.
The service is fine, but you know what the problem with service is? Service is once again linked to your time. If you're providing a service, you're still giving up your time for money.
Do you understand? So the product angle is difficult, the service angle is difficult, the time angle is difficult. So far, the only angle we have will allow you to make money scalable out and beyond is information for money.
Thank you.
Next.
Putting something else to do the work for you. Now this is what corporations and the mega rich people do.
They either get people to work for them or they get their money to work for them.
So to keep their time free...
They make other people or other things give up their time. So a company will come along.
Let's look at the slides. A company will come along...
with a service. It will advertise its service.
It will then hire people, number one. It will get people to work for them. And then those people...
will give up.
Their time...
in exchange for a wage, give up their time in exchange for a wage,
And the company will keep money.
So the owner of that company, although he has to manage things,
His time is not explicitly linked to income.
Now the super wealthy, what the super wealthy people do is,
They get their money to work for them. And if your money works for you, it's even better than people because people need to be managed a lot more than money.
Your money doesn't need to be managed.
Money just works. So if you have millions of dollars and you put them in a 10%, you can get a 10% return.
or even a 3% return.
You're going to be rich on the interest without doing anything.