money is actually a reward one receives for the service you render. The more valuable the service, the greater the reward. Thinking of ways we can be of greater service will not only help us earn more money, it will also enable us to grow intellectually and spiritually. The three proven strategies were gotten from Emergence of the next generation CEO by Dr. Victor King which is as follows:
- Trading time for Money: Ironically, the worst of the three income strategies is trading time for money, this strategy is employed by approximately 96% of our population doctors, lawyers, accountants, laborers, etc. There is an inherent problem with this strategy saturation. You run out of time here and if a person accumulates any degree of wealth employing this strategy, it will be at the expense of a life time. They compromise on the car they ride, the house they live in, the clothes they choose and the vacations they take. They rarely if ever get what they want out of life. Trading your time for money by working for people around is not too bad while starting up in life but don’t remain that way because people here hardly earn good amount of income to live comfortably or help people around them and research shows most die broke and never live fulfilled in life.
- Investing to make money: This great strategy of making money is actually used by approximately only 3% of the population. The number is small for obvious reasons. Very few people hardly have enough money to invest. Those who effectively employ this strategy follow the advice of trusted and knowledgeable advisors. We must all educate ourselves and learn the game of investment which could be in stocks, properties, businesses, etc. and by this strategy we put money into work for us rather than working for money all day. Research, get books, get a coach, attend seminars concerning investment opportunities and take advantage of the ones you can and I’m sure if you understand this game, you will be asleep while your money is busy working for you.
- Leveraging yourself to earn money: This is where you multiply your time through the efforts of others by setting up multiple streams of income. This is without questioning the very best method employed by the majority of young rich guys in the world today. Make a decision to have many sources of income, investment has good returns too but in recent times due to lack of integrity and transparency it has led to many burnt fingers and collapse of banks and many has been grounded financially. Leveraging yourself is the strategy that wealthy people have used dating back to the ancient Babylonian days. Unfortunately, this strategy is only used by approximately 1% of our population presently, yet that 1% earn approximately 96% of all the money that is earned in the whole world and you are only a decision away from entering into this exclusive club.
It is time to go beyond the first strategy of trading your time for money and move into investing to make money and also leveraging yourself to earn money.