Basis of making money
There are thousands upon thousands of books just talking about how to make money, yet it is so hard to find a book that talks about the basis of making money. X number of rules, X number of steps, X number of secrets, etc. Funny how 99% of people who wrote those books actually got rich from writing those books.
I don’t know the secret to making money, no one does, because that secret simply doesn’t exist. Hell, that secret CANNOT exist because there is not just one way to make money, there are hundreds and hundreds of ways to make money, each requires a different mentality and a different technique, hence the title of this article “basis of making money”.
Anyone telling you to follow these steps and you will get rich ***cough cough Tai Lopez cough cough*** or any of the like is a scam artist or at best just delusional.
What I want to do here is to just walk with you exploring and brainstorming the ways of making money, this will be a chain of articles, not just one, and I will be learning from it as much as you. I am literally exploring “Money Making” slowly and trying to simplify it for me and others to understand, debunking the myths and discovering new ideas along the way.
So let’s begin!
Basis of making money
Once upon a time, we discovered that we cant produce everything we need and want for ourselves all at once, and thus we started specializing and trading in between us. It was all cool back then, but with time the demand started to grow and the instability of the market posed a huge risk to everyone, that along with some other reasons made us come up with the idea of money.
Our will to power mixed with our greed made us want more and more of this “money”. and so we started creating and exploring ways to get more money within our limited lifetime.
For a great portion of our life, the “rich and honest” business model was to make something really good and sell it for a very expensive price to very few people, that was a great way to make money.
So here we discovered the model to making money “Make something really good, sell it for a very expensive price to very few people”
Things went on very chill for a while, but then we realized that we can mass produce, and for a very low cost, and thus the second model of making money was born!
“Make something decent, sell it for a very low price to so many people!”
And that takes us to our modern times, where things are getting a bit complicated, yet we still adhere to these two models, and we are trying to figure out the sweet spot between them while just inventing random and abstract shit to justify us charging more, that was the birth of brands.
This might feel like it is a matter of business and companies to consider, not the individual.
But in fact, it is more applicable to you, the individual, than it is to the companies, especially in today’s economy.
You, right now, can decide which model for getting money you want to adopt.
Here are the models for getting money explained in your individualistic sense:
1- Make something good, sell it for a very high price for very few people:
This is the approach of Rollsroyce or any very luxurious brand. You can start your own company and adopt this approach
You can go to college, specialize in something and get a high salary for doing it. Your time and skills are the limited things you are selling, and your high salary is the prize.
2- Make something decent, sell it for a low price and to so many people:
This is the simplified story of the Chinese economy or any mass producing company.
But when it is applied to you as an individual, it is being a blogger, a Youtuber or any of that. You are getting very little money per “purchase” yet you are – or aim to- selling it to a huge number of people. The average income you get per ad click, for example, is very little, but when you get thousands and thousands of clicks it makes a lot of money!
These are the basis of making money, no matter what you choose to do in life, you will fall in one of these two models!
Ok, so you understand that you have those two choices to make money, so now what?
Before making any irrational decisions, you have to consider one more factor and that is
Your safest bet in your journey to making money is always to think of your time, and how much money can you get for it.
For example, let’s say you have an idea for a business, but you are working for Subway at the moment.
Should you quit and work on your business idea?
because if you quit then you will be paid 0$ per hour, yet if you stayed working then you will be paid x$ per hour.
And anything is better than zero!
But you might say that you cant have enough time and energy to work on both, and that is the case most of the times!
So now what?
You have two options:
1- Find another job that will give you more time to focus on your business, even if it pays a bit less.
2-Work so hard for the upcoming X months, save as much money as you can, quit your job, and dedicate your time completely to work on our business.
Which choice to go with is completely up to you, both have their own ups and downs.
I don’t want to go any further, I want you to take some time to consider what we just went over. Making money is very complicated, and definitely not easy, you can drown in the sea of information or take it sip by sip.
Your situation right now won’t change unless you do something about it, I am sorry, there are probably no miracles coming for you anytime soon, or maybe ever. If you don’t take matters into your own hands, they will probably go from bad to worse.
I know, the world out there is frightening, and you just want to get by with the most comfort and maximum reward, and that is the situation for most people.
I don’t want you to take any risky choices, although I am a big advocate of the “Go big or Go home” but I understand that it is not for everyone.
I want to walk the journey with you and show you that with little risk and great effort you will impress yourself after just a little under a year.
For now, we just talked about the basis of making money
We will be taking it slowly.
That is it for today awesome people!