Good and short article. But you could have added some more tips.. It would have been handy for me
How You Create Wealth
by Randy Gage
People always talk about how to make more money. But you don’t “make” money; you earn it. And money – like all forms of true prosperity – is acquired by trading value. You create more wealth by creating more value.
If you want to become wealthy, look for problems to solve.
Find a way to lower costs, increase productivity, reduce turnover, speed up a process, eliminate redundancy, make more sales, keep more existing customers, save time, hire smarter, learn faster, or any one of literally billions of things that would bring value to someone or something.
The reason I focused on challenges in Risky Is the New Safe, is because challenge are the beckoning call for solutions. And solutions are what make you wealthy!
That is very true. You don't make money but earn it. People and corporations should focus more on earning rather than making.
i think when you find your gift and add value in that area - if there is a market for your gift - you WILL get wealthy...
Perhaps the first step is creating greater value in ones self. Operating from 'good enough' or even a consistent 99% which is just the highest version of good enough, will have to go. There is something each of us, often more than one something, has that if we'd put it into practice, if we dedicated real time and effort we would become the best there is at it, at least for enough others that are value would be sought after. Pick something and make it work before you go on to anything else. Quitting is easy but you get to start all over again, again.
You are 100% correct. Value does equate to more money.
But how does someone get wealthy when they are in an hourly or even salaried position? It can't happen, right?
The amount of value that you can create in this type of scenario is unlimited, but the income is capped for the employee. The only one getting rich here is the owner of the business.
So what is the solution? Start your own business?
I have no interest in money all i just want a Mansion with swimming pool , White Lamborghini Blue Bentley , astain martin, BMW X6, , ,lots of Rolex Watches, Designer Cloths , Samsung Galxy S4,,6 month holidays , 2 world tour in a year , A beautiful life partner , A Cute DOG,and some other things too And i don't need money ,,,
I do agree for the most part. Sometimes there are (new) company's who bring value to the world, but it doesn't mean people are going to like it or buy it. Only if they need it. There are also outside factors like timing, positioning, good (business)plan, leverage, and so on ...
You Don't Earn Money!....You Earn Currency!!
Money is anything of value that can be exchanged for something else of value. Currency is the paper like a receipt!
Therefore We Produce Money/ Wealth and TRADE it for Currency because it is now illegal to barter or use Gold and Silver!
Earning makes it sound like it is coming out of the EXISTING pool of wealth. Create/ Produce/ Make and then trade makes it sound like what it already is...consistently EXPANDING the pool of wealth by making MORE.
That is why it is called "MAKING MONEY" because the more you make the more there is. Therefore we have a moral obligation to make as much money as we can so that there is more to go around.
I know it is a small distinction but it makes a big psychological difference thinking of it as "Making" rather than "Taking".
Entertainment with Purpose.. Inspiring people to rethink.. let go.. and most of all, live a life without regrets.. Sound like solving a problem to you?
"solutions are what make you wealthy!" Perfect tweet!
What is your take on also helping individuals and companies that are doing well to do better? Or is that another form of "look for problems to solve?"
@Edward D Devero Yes, the focus needs to be on "value" and "creating" corporations create products and services. People who find their talents, that others are willing to pay for, then add value, will create a better economic prosperity for themselves and also the general system.
@Travis Davison I could not agree with you more. Sadly, there are some that are locked into a box due to their idea that they will never make it in business. They think that job equals security. Thus, never even dream about taking a chance. However, they are envious of those that do take the chance and become rich when all goes well.
Unfortunately, some think that the economy is a zero sum game. You put it very well when you said that when we say "earning it" makes it sound as if it is coming out of the existing pool of wealth.
However, economy should be looked as something that decreases or increases by the contributions of those people, government, or corporations creating or destroying wealth in the economic system as a whole.
@AlanAllard Yes that's just an extension of problem solving and adding value.