Monday, December 29, 2014

The #1 Wealth Building Secret

By Randy Gage in Critical Thinking, Prosperity, Success.

Last post we looked at the excuses entrepreneurs make to convince themselves that their customers won’t spend money with them. We saw how those entrepreneurs were actually buying into an erroneous limiting belief, and inhibiting their own sales.

There was a great response to that post, yet some people felt it didn’t apply to them, because they weren’t business owners. So if you were one of them – this is the post for you! In it, I will reveal the number one secret to building wealth for an individual.

You might have read the last post and said, “That stuff works for you, because you have a business. I’m stuck in a dead-end job and I’m at the mercy of my cheap boss who never wants to give me a raise. I would love to start a business and be my own boss, but I don’t have the money.”

Here’s what I want to say to you:

Stop it. Just stop it.

In every situation you always have two options: be a victim or be a victor. If you give away your power to anyone – your boss, the economy, the government, etc. – you’re almost certainly guaranteeing yourself a life of struggle and lack. You have to take responsibility for your own prosperity and success. And you really can create them.

ANYONE can start a business today. There are businesses you can start with a few thousand dollars, some you can start for a few hundred dollars, and even some you can start with five dollars.

To say that you’re searching for prosperity is like a fish swimming around looking for water.

Prosperity is surrounding you everywhere; it is in the ethers all around you. And the way you manifest it on the physical plane is through the power of ideas.

When I was 15 years old I was delivering The Capital Times newspaper in Madison, Wisconsin. I knew some people who went to the drug store on Sundays to buy the New York Times. Others were Cubs or Bears fans and they wanted to read the Chicago Tribune. Political junkies bought the Washington Post. So I wrote all those papers and offered to become their distributor in Madison. They all accepted me and “Gage Distributors” was formed. I made up and copied some flyers and soon had dozens of new customers all over my neighborhood. Later I sold that business for the whopping total of $1,500. I turned being a paperboy into a residual income, into a business that could actually be sold.

Let’s go back to the last post and the two ways prosperity is created:

Solve problems - Add value

The best business ideas are the ones that solve problems, add value, or even better, both. Anytime you see someone with a problem, you have a business opportunity to create wealth. Anytime you think of a way to speed up, improve or reduce costs in any process, you have a business opportunity to create wealth.

Kids who start young earning money become decidedly better entrepreneurs. They learned from raking leaves, shoveling snow, babysitting, delivering newspapers, running a lemonade stand, or mowing lawns. And those are all things even an adult could do now to earn some extra money.

You can also do house sitting, pet sitting, dog walking, or a personal concierge service. Every one of those businesses can be started small and grown larger. If you want to be really savvy, you look for ways to leverage them.

Leverage is one of the true accelerators for creating wealth. Because leverage allows you to escape from the trap of trading hours for currency. The greatest fortunes in the world – from Carnegie, Getty and Rockefeller to Jobs, Gates and Walmart – were all built using the concept of leverage in some way.

The reason I recommend the business models of real estate, network marketing and information entrepreneur is because they all allow an average person without large investments or resources to apply the concept of leverage.

Of the three business models I mentioned, real estate does require the most money and knowledge. But with that knowledge, a small amount of money allows you to invest in a much larger property. So you have an opportunity to leverage your investment.

If you don’t have a lot of money, consider network marketing. For a few hundred to around $1,000, you can start a business that can eventually provide you a 5- or 6-figure residual income. There are many fine companies offering a broad range of products and services, so it’s relatively easy to find one congruent with your interests.

If network marketing doesn’t interest you, consider becoming an information entrepreneur. Information is more valuable than gold, diamonds or money, because people are willing to trade all those things for the right information.

You know how to do certain things. There are other people who would pay money to learn how to do those things. You can create physical products like books and DVDs or simple sell digital versions. And the possibilities are endless.

Somewhere right now there are people who want to know how to raise healthy happy kids, how to write a book, how to become an archer, how to learn languages fast, how to invest in real estate, how to become an info entrepreneur, how to collect fine art, how to manage a team, how to lead an organization, how to design your dream home, how to harness your inner potential, how to build a log cabin, how to soup up your snowmobile, or any one of 465,887,456,345 other possible products.

Be willing to think laterally and creatively, don’t just buy into the usual possibilities. Driving a taxi is trading hours for currency. Creating Uber is leverage. Starting a lemonade stand is trading hours for currency. Franchising your lemonade stand is leverage. Starting a dog walking business is trading hours for currency. Selling a “how to” special report on how you open a dog walking business is leverage.

Sell wellness products and you make money. Join a network marketing business with wellness products and you make money, help others, and apply leverage.

Buy a tandem bicycle and offer rides and you could make money. Invest in six tandem bicycles, get some riders and you can apply leverage. Launch the first Uber for tandem bicycles. Or the first Uber for pedi-cabs. Or the first Uber for sailboats. Or gondolas. Or jets.

No one really has a money shortage. What they really suffer from is an idea shortage. The only thing between you and the prosperity you’re seeking is the right idea.

At the beginning, I promised to reveal to you the number one secret for building wealth and creating success. In the unlikely event you haven’t figured it out yet, let me disclose it now…

Stop selling yourself short.

– RG: 

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