Making Money
Introduction:
There are only two approaches you can use to make money:
1. Get a job.
2. Operate your own business.
There is only one process that creates wealth:
Selling something to someone for more than you paid for it.
It always comes down that single interaction. You have to make an exhange with someone. Having something they want and are willing to pay for is the key to making money.
Under both approaches: getting a job and operating a business - you're going to find endless possibilities. The one big difference you must consider is this:
Any job, unless it provides incentives for compensating you for activities which create wealth for your organization, is always considered to be an expense by your employer. This means your employer will seek ways to increase your productivity while either cutting the expense (your pay) or eliminating your job altogether.
Those jobs which create wealth (and new business) tend to be held sacrosant by most successful businesses. There is a unique set of skills and psychological underpinnings necessary for an individual to be able to go "out into the world" and create new business and revenue.
These are the most important "assets" to any business. Not everyone has the skills or personality type to be able to represent themselves as the "front end" of a company and create relationships which ultimately result in new or continuing business.
This is why, outside of the elite managers and executives the highest paid employees are (and should be) those whose job is making money for the business.
Operating your own business
The same thing applies to operating your own business. If you decide to become a "one man or one woman operation" you have to place the predominant focus of your time on the creation of new business.
This means making new contacts, fostering new relationships and maintaining and growing the business relationships you already have - are the most important aspect of operating your own business. The better and more proficient you become at this activity the more successful you will become.
70% of your time should be devoted to creating new business.
The other 30% should be the fulfillment and satisfaction of your customers. This means if you have a business model which requires your full attention 8 hours a day on creating and fulfilling the product or service - you will hit the wall very quickly and find yourself without any business!
This is the hard learned secret many independent business people never learn about creating wealth.
The most important thing you can do is to always be creating new business...
more..."Making Money
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