Monday, July 10, 2006

Ways to Make Money

By Debra Thorsen

What are the best ways to make money?

If you answered, “a job”, then you have been brainwashed like most Americans into believe that working for a company is the best way to make money. It is absolutely NOT one of the best ways to make money. Why not?

Most jobs have the following problems:

1. The time trap. You are trading your time for money. Even if you are a salaried employee, you are accepting a salary for a set number of hours that you will work each week. If you don’t work, you don’t get paid. Most companies want you to work the most amount of time for the least money and you want to work the least amount of time for the most money. The job game is a lose-lose game.

2. No passive income. If you stop working for any period of time, you stop receiving paychecks. Your money doesn’t work for you.

3. No intellectual capital. If you are an employee, your company owns your intellectual capital. It’s like your company owns your brain. You cannot sell or share your ideas and earn money.

4. No control. You have no control over your work life and therefore your life. You cannot choose where you work, when you work, or who you work with. Most companies require a lot of “face time”. Even if you could get your work done in 4 hours each day, you usually need to spend 8-10 hours onsite to prove that you are a “loyal employee”. You have no control over most of the decisions that are being made at your company. Bad decisions made by others could put your company out of business and then you get “downsized” or “rightsized” or simply laid-off.

5. No leverage. Entertainers and professional athletes make lots and lots of money because they have leverage. Millions of people watch them. They can make one movie or play one game a week and make buckets of money because they are reaching a huge audience with a few hours of their time. In a job, your efforts reach a limited audience. You cannot give a speech to your department and record it and then turn it into a teleclass that you sell over and over again on your website. You have no leverage.

So, what are some better ways to make money without going to a job?

1. Start a business. Yes, lots of businesses fail. But small businesses are the engine of growth in this country. It took Bill Gates 10 years to become a billionaire with Microsoft. It took Michael Dell 5 years to become a billionaire with Dell. What you need is a solid plan and then the courage to execute the plan and the discipline to market your products or services consistently. There has never been a better time to get rich by starting a company. What are your goals? When do you want to achieve those goals?

If you want to start a business quickly and don’t have the necessary business fundamentals or want a pre-designed, proven system, then look into joining a network marketing company. If you can find a product you love, a company with a proven marketing system and a management with integrity, you can develop a great passive income stream.

Do your own research and see if it makes sense for you to start your company from ground zero or join a network marketing company. There are lots of good network marketing companies to choose from. (There are also lots that aren’t such good bets.)

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