4 ways to make money

 

1.       Time for Money
2.       Information for Money
3.       Product or Service for Money
4.       Making something else do the work for you

Time for Money

This is what most jobs are and there’s nothing wrong with this.
This is the first level of making money.
So, what you do when you have a job is give up your time to get money.

The problem with giving up your time for money is that you only have a certain amount of time.

It’s very difficult to get rich if you are giving up your time for money because you have a finite amount of time in your day to work.

The more valuable your time is the more money you will be able to make but you still only have a finite amount of time.

 

Information for Money

The good think about Information for Money is that your time is not explicitly linked.

So, if you do something like a video giving information. You can film it one time and it can be distributed or sold many times. So, you can get paid every single time without your time being linked to it.

Lots of people make money on information. This can be done in lots of ways. Sell or distribute what you know.

Two of the most important things are information and attention. If you have information and can get attention you can make money.

If there is something you know that others do not, you can use this information to make money.

Be it via YouTube videos of blogs.

Information for Money is better than Time for Money.

 

Product or Service for Money

This is what most business do. They provide a Product or Service for Money.

Providing a Service is different from selling information. You have the information, and you are using it to provide a service. If you know how to fix computers, selling information would be using a video or blog to educate someone else on how to fix their own computer.

Selling a Service would be fixing it for them for Money.
Currently this is a challenge because most Products and Services are already being offered for a very competitive price. Unless you decide and choose a unique niche market to sell products or services.

The problem with Service is that it is linked to your Time. If you are offering a Service, you are trading Time for Money.

 

Making something else do the work for you

This is what bigger corporations and rich people do to make money.
They either have other people doing the work for them or making their money work for them.
This keeps their Time free.

They will over a service and pay other people to do the work for them.

If you are rich enough to make your money work for you, this will be first prize as this uses less of your time.
If you are using people, you need to manage people, whereas you do not need to manage your money that is working for you.
If you have money that you are able to invest and get a return on it.

Even if you do not have a lot of money, you can still put your money to work for you but you will not be able to live off it, if it is not a big amount.