Recently there are 9 New Money Rules That Is Making Ordinary People Like You Super Rich. In the past, business owners ass way before their company being to yield billion dollars. But now billions of dollars companies or business empires are a built-in minimum of two years.
However, these days the adage of “just keep working hard and your reward will come” is no longer obtainable. Technology has become the new wealth catalyst. Things have really changed now even how business is being done and making if money. As you keep reading this article, your rules about making money will change. Let’s see the 9 new money rules that are making ordinary people like you super-rich.
9 New Money Rules That Is Making Ordinary People Like You Super Rich
Below are the 9 New Money Rules That Is Making Ordinary People Like You Super Rich.
Having One Source of Income
It is a dangerous thing to have one source of income. Having one source of income in the business of making money is disastrous. Assuming you have one source of income, one client in your business, one marketing concept, or skill, you are just a mile away from crashing. It is not necessarily about having multiple streams of income from different sources but having multiple streams of income from the same source.
For example, WWE is a company that is offering different products and services to its fans. This includes TV shows, video games, movies, gears, and many more. This is what we mean by multiple streams of income from the same source. In your office get to ask if you can get paid commission for doing additional work. Move with the trend of the new generation and get to make your own money.
Leverage On A Reliable System
There are people who probably people who are in their 60s that have traded their time for money all their working life just to retire almost to nothing. What this means is that all those years of working only provided momentary benefits that did not amount to anything worthwhile. However, when compared with some people in their 40s, even 30s whose business in the past years has to generate income.
A wise man Robert Kiyosaki, said, “Work to learn, don’t work for money”. Most people will agree with this but don’t necessarily believe it. This means you relying on a System. This system means leveraging on existing resources that can function independently for you. If you want to get rich, don’t rely on immediate profit; do not work for money. But focus on building or being a part of a system. This could be in the form of investing in a business, assets, technology or building a brand. Relying on profit brings active income. Building a system to creates passive income. The richest people today don’t rely on active income but passive income. They don’t rely on the profit they rely on systems.
Building Fast is very Important
Nowadays, in this era of technology, moving fast to grab the opportunities around is a smart ideal thing to do. Whoever thought before now that online publishing would overtake traditional publishing? That a new blog can be more sort for than a newspaper? But this is the reality now. Now those who move fast to adopt new opportunities and remain consistent that wins. So, watch out for these opportunities around you and hold one.
Passive income is unbelievably easy
Many people do not understand the opportunities that are littered online today because of internet technologies. One of the easiest ways to generate consistent passive income today is to build a digital platform.
In 2019, according to Afterschoolafrica the highest-paid YouTube channel was an 8 years old Ryan Kaji earning $26 million in a year. His channel Ryan’s World started in 2015. This income was generated independently of the owner’s presence. Many online businesses work with a similar model, you can invest a significant amount of time and resources to build a content-based platform, and it grows to the point that you can generate consistent revenue without many activities.
Selling Is Not Needed
Before now, you have to sell something to make money as a business. Today, technology has made it easy to make money without selling anything. Most online content creators do not sell any tangible products on their platforms. They just focus on creating content their audience wants, while an advertising network takes care of dealing with advertisers. There are many advertising networks, so content creators have options of who to work with. This is a new rule of money anyone can take advantage of and fly with it.
Expertise Is Not Needed
In the past, you had to spend several years in isolation studying a subject matter before you are qualified to help people around that subject. But in today’s world, by the time you are done schooling, about 80% of what you learned would be outdated.
There has been a rise in perceived experts over the internet in the past decade. These are everyday people who consistently share content online around a particular field of interest and gained a huge following. By the share volume of their audience engagement and consistency, they are known as an expert in that subject. These people turn their interest into a career before becoming an expert. So the new money rule is that you don’t have to be an expert to start building a career or business in a field.
Money is just a Click Away
Today, Money is just a click away, customers are everywhere you have to create awareness. No matter what you sell, you can reach out to your clients at any range. There are many social media platforms for businesses including Facebook, WhatsApp, Twitter, Instagram, and other media platforms to reach your customers. It’s an outdated business practice to set up shop and wait for people to work on your premise. If you want to grow fast and make a lot of money consistently, you have to meet your customers where they are and help them to find you. Breakaway from that old pattern of sitting and waiting for the business to come. Be out there and help your prospects find you.
Value is Paramount
Now meeting value or creating what your client’s value is what brings money and makes one rich. Have you noticed the rise of comedy skits on YouTube? If you check the top trending videos on YouTube, it’s likely that over 80% are usually entertainment related. I used to complain about how a lot of young people have misplaced priority because of their preference for media to consume. But I’ve come to accept that value is subjective. What you consider value may not be worth another person’s time. A lot of young people are making a living and building career creating prank videos, comedy skits and the likes because they are meeting the need of many people. The smart thing to do is to focus on the people you want to serve and create the type of product they want to consume. The field is large enough
Be Smart With Money When Starting Out
In the past, you had to invest a lot of money to run an ad in the newspaper, radio or TV, without a guarantee of how the ad was going to perform. There is no chance for trial, you just go all in. Today, thanks to digital technology tools, you can start your marketing campaign with as little as $5, measure the result, tweak it and keep testing until you identify what works for you before investing more money.
Also, when starting a business, you don’t have to go all out to invest in a befitting physical office, with the associated costs of operation. You can start from your living room to prove your business idea using existing digital tools and platforms. Be smart with money when starting out, and leverage on the available digital tools to prove your concept before going all out.
Here are the 9 New Money Rules That Is Making Ordinary People Like You Super Rich.