There Are Only 3 Ways To Earn Money – The Results Guy – Medium
Choose Carefully, Your Life Depends On It
About 3% of the population control about 97% of all the money. The other 97% of the population share the remaining 3%.
Have you ever heard of the 80/20 rule? It applies to almost everything. It goes like this…
In any organization about 20% of the people do 80% of all the work and about 80% of the people do 20% of all the work. This holds true in pretty much any organization from a sales staff to professional services to retail and everything in between.
The numbers are actually a lot worse when it comes to earning money. With money it’s closer to the 97/3 rule. The numbers aren’t exact but close enough to get the point across. About 3% of the population control about 97% of all the money. The other 97% of the population share the remaining 3%.
Does this surprise you? It’s true. You can call this a tragedy, an abomination, or simply that it’s not fair but the truth of the matter is, it happens by law and it’s actually quite just. There’s no conspiracy, there’s not a group of 6 men behind the curtain keeping the rest of the world down. It’s actually quite simple; AND you can actually get into the 3% if you are so inclined. Let me explain…
There are only 3 strategies available when it comes to EARNING money. Notice I said EARN and not STEAL. We will just call these #1, #2 and #3; Brilliant, I know…
The first strategy for making money is the absolute WORST way to do it yet it is used by 96% of the population. It’s an old, antiquated, left over from our grandparents way of earning money. It’s honorable, it’s loyal, it’s what we were all taught, but it’s the worst. It’s where you trade TIME for MONEY. This is a JOB.
Don’t shout me down. I’m not bashing jobs so don’t dismiss this yet. I actually have a job myself. Jobs are important and must be filled by people, obviously. Fortunately 96% of the population are willing to fill them, however a job will never get you into the 3% club as far as making money is concerned.
The problem with trading time for money is that there is only so much time in a day/week/month/year. You can only work so many hours. Let’s say you make $25/hr at your job which most people consider pretty good at least as far as wages go. If you work 40 hours per week that comes out to $1000 per week or $52,000 per year BEFORE taxes.
Taxes vary greatly depending on where you live but using a very conservative estimate let’s say you only pay 25% for all taxes, (federal income, state income, social security, medicare, sales tax, property tax, etc.) Using this VERY conservative estimate you will end up with $39,000 per year or $3250 per month to pay your mortgage, cars, insurance, utilities, food, clothing, gas and whatever is left is yours for vacations and entertainment for you and your family.
For those of you reading this who earn $25/hr, I can already see you shaking your head because again, this was a very conservative estimate on taxes and you don’t actually have that much coming in do you?. I get it. That used to be me. Needless to say, it’s highly unlikely that money making strategy #1 (trading time for money), will provide the kind of life you really want for you and your family.
The second money making strategy is a very good strategy but it’s only used by about 3% of the population. This is for people who are good at trading money for money.
These are those who are good at investing money to make a return and a profit. Whether it be stocks, real estate, automobiles, precious metals, etc.
Although this strategy CAN be very lucrative only a small percentage of the population can do it successfully. That’s because people who use this strategy successfully are patient, disciplined and VERY knowledgeable in their craft. I am NOT one of these people. Every time I have ever tried investing in a stock that me and my friends were sure would go big; I ended up losing my ass. That’s because I failed to learn and employ the correct investment strategies.
So #2 is good, IF you have the money to invest, let’s not forget that important point, IF you take the time to learn all of the proper methods of your particular investment vehicle and IF you have the patients and discipline to make it work without losing all your money.
This brings us to the third money making strategy. This strategy is quite unique. It’s used by only 1% of the population and this 1% control about 96% of all the money that I talked about earlier. Virtually all wealthy people throughout modern history have used this strategy in order to become wealthy.
Let me just add a caveat here because I feel it’s necessary. Most, not all but MOST wealthy people are self-made. A lot of people think that wealthy people were born into it or somehow hit life’s lottery in order to get that way. Not true. Almost all wealthy people made it happen for themselves. So how do they do it? Read on…
Here’s the crazy thing about strategy #3; it can easily be used by absolutely ANYONE, yes even you. It’s not reserved for some special millionaire’s club. It doesn’t require tons of money to get started. It just requires an awareness that it exists and that’s why I am writing this story, to create for you the awareness.
The strategy is simple; It’s MULTIPLE STREAMS of INCOME. Literally anyone can do this. And you can do it while you’re working a job like I do. The ways you can earn multiple streams are limitless and there is no law limiting the amount of multiple streams you can have. You can literally have hundreds if you want. Some people do.
Gary Vaynerchuk, the social media giant and owner of Vayner Media and other companies often talks about this on his Social Media posts. One example he uses is he tells people they can go to the dollar store, or to yard sales and buy “junk” and literally flip it for a profit on ebay or amazon.
Another example Gary uses is how artists these days no longer have the barriers they had in the past. Musicians can get their music out to the masses these days with little or no cost and make things happen for themselves. He says there’s literally no excuse as to why you can’t earn money TODAY, as in RIGHT NOW, if you are willing to hustle. Gary’s newest book, Crushing It!: How Great Entrepreneurs Build Their Business and Influence-and How You Can, Too is definitely worth reading if you want to get your side hustle on.
Some people write e-books, traditional books, write music, sing, play music and sell it. Others create courses about some sort of skill they are good at and sell the course online. Now days a very popular additional income stream for people is Uber and Lyft. I have used Uber and Lyft a lot and most of the drivers I have had drive as a side hustle to their “normal” job.
Drop shipping, internet sales, virtual assistant, sub-contracting, network marketing, direct sales, coaching, consulting, training are all ways in which people start additional streams of income.
Network marketing is one that I personally have used for years. They have very low start up costs and most companies offer very robust training systems in order to help their distributers succeed. They alone can provide multiple income streams. I actually started in my first network marketing company while in the military and deployed to Iraq. I mean these days it’s just so convenient with the internet.
Throughout history the wealthy have gotten that way by creating multiple streams of income.
The “multiple income streams” strategy is open to anyone but it’s not an easy road. Don’t fall for scams. There really is no such thing as get rich quick, but there is GET Rich Slow. Most people start something and quit. A huge majority quit in fact. It takes discipline, hard work and time to make a side hustle successful.
But don’t you think it would be worth it? I mean how would an extra $500 or $1000 per month impact your life? What about an extra $5000 per month? An additional income stream or two can provide this. If you’re willing to invest a little money, a little time and a LOT OF DESIRE you can join the 3% now that you know the “secret”.
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