Escape the rat race
Saturday, June 9, 2007 at 9:21PM Lots of people seek to create wealth with hard work. This is a step in the right direction. Yet, if you take a closer look, and you discover you're exchanging time for someone else's money, then you may not realize you can make money other ways. Perhaps leaving a traditional rat race is for you?
If you have no control over the level of your salary or no leverage based on the size of audience of your work, then you may not be using your skills in the most effective ways. You create greater wealth through earning more than you spend. A bit of research will be needed to identify your interests and to identify what's right for you. Which areas might you consider?
1) You could start a business. Everyone who starts a business hasn't always planned to do that. Not all ventures succeed. Yet, a business is a great way to regulate your own hours, define your own salary and create the freedom to be your own boss. Of course, business also requires a great deal of commitment and responsibility. You need to be willing to get informed about your area and to take risks to develop ideas and expand. To tap into this unlimited profitability, you must also earn it by staying on top of you market and keeping in touch with your customer wants and needs.
2) You could invest in items that appreciate. To acquire what grows in value, people think of real estate, antiques, jewelry and other items which hold value or appreciate over time. You can also learn to make money in real estate markets by buying property to renovate and resell or, by buying to rent or lease to pay your mortgage and make a profit. Many people learn as they go, even with little money. They key is to consult competent real estate advisors and read on market trends.
3) You could invest in good risk companies. Stocks don’t have to seem like a foreign language. What products and services do you love so much that you would tell other people about them? Remind yourself you may earn more of a profit when you buy than when you sell. Mutual funds also have a 5-10% index of annual growth. Don't knock that. You may choose to look into bigger risks as you gain faith in your evolving knowledge. Investment brokers can guide you and you can learn.
4) You could package and sell yourself. Why not put together CDs, books, or life experience in ways that other people could benefit? Your lessons-learned could be worth far more than you realize. Self-help, personal growth and motivational coaching is an increasingly popular areas. As you develop products and services around your own creative visions or ideas, you’ll realize that your intellectual work and yourself as a person are very marketable commodities. Value yourself.
Reader Comments (5)
To answer your question, yes I do have experience in these areas. Anyone with a business or anyone aspiring to run a business would benefit from developing marketing skills. I would reccommend getting a book on the subject and talking to people with practical experience. You need to hone your talents, identify an existing market or create a niche. Ask yourself who would be interested in your products and services? How could prospective clients benefit? What would you offer that isn't already offered by others? How would you personalize your business? Motivational speakers and writers have to evolve into salespeople. Learning how to market yourself involves developing your skills and networking. You may also enjoy reading The Secret by Rhonda Byrne as well as stories of people in your industry who have defined their own success. Ultimately, what does success mean to you? Once you can answer that, then you need to figure out what works and doesn't work to get you there. Strtaegies used by other people won't necessarily work for you.
I'm also interested in item 4. I would like to set up a wealth creation club. This would enable me to share my life skills with younger generations. I do know how to make serious money (e.g.: one of my investments grew by $1 million in a mth this year--this can be substantiated). I invest in various businesses and shares, as well as a mix of property. I've had success with joint ventures in property with 3 partners on each project. This worked well for all concerned.
Regards, Graeme Edwards
To anyone who wishes to attain wealth: work with someone who can prove he / she has done it. I share my lessons learned to generate more wealth. But, I won't make money unless you do! I'm prepared to invest in a Joint Venture (this means putting my money into a venture with others). If you have a question, business investment idea or, if you would like to help set up wealth clubs in Sydney, Melbourne, Brisbane, or other areas in Australia or New Zealand, please contact me.
Congratulations on all your recent wealth creation success. Its great to hear you're ready and willing to share lessons learned to assist people to grow. Have you heard of Robert Kiyosaki's Cashflow 101 game? This is useful to teach money management and financial investment skills. I know peers use it in their teaching and its a focus for some wealth creation clubs. Similar tools can also be used to effectively empower people. In order to generate prosperity, some people desire to develop new confidence in business ventures. Speaking from your experience in a workshop or seminar would be fantastic! If you would like any assistance with that, let me know.
Good contents at your blog here. Am sure you gain plenty of experiences in wealth creation. I've recently started investing in oil and gas (item 2). It may interest you. I've written a report about this investment at my blog www.aaronloh.com. What other wealth creation tools do you own? Thanks.