2 Wealth Building Models

Everyone wants to make more money, but people are generally split into two categories: Those who bring results after they are promised wealth first Or Those who bring the results first, then are rewarded by others afterwards Let’s explore the two groups in depth.

Those who only move their butts after promised big fat paychecks are more like employees, freshmen, or mercenaries. There is no right or no wrong with this kind of thinking, but consider: you are once again, trading your precious time for money. Instead of investing your time in an ASSET that generates money, you spend your time working on something that is short term, limited wealth, and does not give you income long after you have stopped working. Consider also, that this kind of short term vision will only produce limited or temporary results at best. Ever seen a security guard asleep at work when the boss is not around?

Furthermore, the part where our emotions get the better of us is when we allow our lives to be run by chasing the dollar. It is evident whenever an employee is offered a higher salary, more medical benefits and longer vacations, that their heart starts pumping faster.

A higher salary doesn’t mean less financial problems. On the contrary when your income goes up, your commitments, your tax bracket and your time spent in your company increases. The greater your salary, the weaker your position because if your boss is paying you a 5 figure income and calls for an emergency meeting, you had better rush over to the office even if you are halfway with your wife!

I think the best definition of an employee/boss relationship can be summed up as this. An employee will only do the bare minimum to keep the boss from firing them and a boss will only pay the bare minimum to keep an employee from leaving. Now let’s explore the other group. There are many creative people, inventors, entrepreneurs, and business leaders who fall into this category. An entrepreneur is someone who always has good ideas.

The first obstacle we need to overcome if we want to succeed in the second group is to stop working for money. What does this mean? Isn’t making money part and parcel of having good financial IQ?

What I mean by ‘stop working for money’ is not working for free. Rather, it means work so as to gain the necessary skills you need to be a successful entrepreneur (or inventor, investor). Allow me to illustrate:

It is not that easy. Many lack the perseverance, the creative mindset, the financial capabilities or the necessary people to get the job done and usually give up too early before any results can be seen! The fastest way to get those skills to succeed is to learn them hands on and you even get paid in the process! Don’t get absorbed with how much you are paid.

When Donald Trump was selecting candidates in The Apprentice, their first task was to go to the streets and sell lemonade! Many would find it a degrading task. But to The Donald, it was very important: If you can’t even do something as simple as sell lemonade, how on earth can you handle a daunting task like running the Trump Empire?

It is all up to you. You may or may not see the results in the short term, but by using our brains and the resources around us, we can create true value that others are willing to pay for what we have to offer.

3 Ways of Making Money

If you are a professional, have you ever explored writing an e-book about your field of expertise? If well written, it could provide a new income stream, instead of you selling out your time serving your clients.

How about a computer programmer? You can come out with your own revolutionary product instead of selling your ideas to the company you work for.

How about real estate, instead of selling houses, you can pool financial sources to buy houses cheap, increase their value and sell them off at a higher price. It just takes a little time and research to find good ideas.

• Cash Building Strategies Series: Types of Legitimate Online Businesses, Part 2
• The E-Entrepreneur Success Mindset Series, Part VII
• Develop Your Financial IQ: Chapter 3, The Most Important Rule in Investing
• The E-Entrepreneur Success Mindset Series, Part I
• Cash Building Strategies Series: Types of Legitimate Online Businesses, Part 5

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