Note: This is an article which I loved a lot. It is not my creation but by Jack Canfield. If you are reading this, you know him already.
There are really only two ways to end up with more money. You can either spend less, or you can make more. Personally, I’m a fan of making more. I would rather make more and have more money to spend than always be denying myself things I want.
In our lifetime many of us have been confronted head-on with having to figure out a way to spend less money. In school you learn how to set and live off budgets. You think about what you can cut out here, what you can cut back on there, and you’re constantly focusing on what you have to “get rid of.”
But what if you thought about money differently? What if instead of focusing on how to cut back, you focused on how to make more? There are many possibilities to do so.
The first step in making more money is to decide how much more you want to make. Once you have decided how much more you want to make, ask yourself “What product, service, or additional value can I deliver to generate more money?” What does the world, your employer, your community, fellow business people, fellow students, or your customers need that you could provide? Once you’ve identified that, it’s time to develop and deliver that product, service, or extra value.
Here are some ideas to get you started:
Money Idea #1: Become an Intrapreneur
Today, many of America’s biggest and smartest companies are cultivating entrepreneurship amongst their employees and executives. Companies such as Google, encourage their employees to spend up to 20% of their work week to pursue projects of their choice. They are encouraged to “think outside the box” and come up with new ideas and innovations. Intrapreneurs are the ones who created the Post-It note for 3M, the Java programming language for Sun Microsystems, and even Yahoo's Search offering.
Does your company have customers it isn’t selling additional goods to? Maybe there’s a piece of machinery, a vendor relationship, or an overlooked marketing idea, or other unusual assets that your employer isn’t taking full advantage of. Can you create a plan to turn this asset into cash? Approach your employer with a proposal to work on the asset-maximizing project off-hours for extra pay. This could even garner you a well-deserved promotion.
Money Idea #2: Find a Need and Fill it
Many of the most successful people throughout history have identified a need in the marketplace and provided a solution for it. If you want to earn more money – either with your own business or in addition to your job – identify a need that isn’t being met and determine how to meet it.
Have you seen ABC’s hit show The Shark Tank? A panel of five investors listen to pitches for some of the best business and product ideas from some of America's brightest entrepreneurs - from stay-at-home moms and dads, to students, to people who are simply wanting to be their own boss – they bring brilliant ideas in a wide range of areas including children's products, music, sports, automotive, and even the nightclub scene. Though some of the ideas are kooky (hey, it is television, afterall!) there are also a handful of brilliant ideas coming from people who have simply found a need and filled it.
On a recent episode, two ambitious college students created a successful “coffee of the month” business. They realized there was a market for people looking to sample coffee from around the word, and they capitalized on that using a subscription-based model. They found a need and filled it. They received the needed capital to start their company with a successful Kicktarter Campaign and they have now solidified themselves as coffee connoisseurs with a taste for unique blends found all around the world. Their company is basically a “wine of the month” club for coffee lovers.
There are always needs you can find to create a business or service around you. Many of these former “met needs” are inventions and services we now take for granted. But the fact remains that people discovered something they needed in their own life, or stumbled on the needs of others, then created the gadgets and services we enjoy today.
Money Idea #3: Think Outside the Box
When Dave Liniger, founder and CEO of RE/MAX , was a successful young real estate agent, like everyone else, he grumbled about paying 50% of his commissions to the broker whose office he worked in. Experienced and an out-of-the-box thinker be began to look for a better way to sell homes and keep more of what he earned at the same time. He could have rented a desk in an office building for $500 a month, but that didn’t offer outstanding management, a large brand name, lots of offices, or the ability to share expenses across thousands of agents. He thought, why not create a hybrid? A firm that offers more independence to agents, that lets them keep more than 50% of their sales commissions, but still provides more support than going at it along. And from that, RE/MAX was born and is now one of the largest network of real estate agents in the world.
Because Liniger’s out-of-the-box idea was backed up with hard work, perseverance, and passion…and because it met a need for thousands of real estate agents, this dream has grown into a billion-dollar-a-year business.
How far might you go if you were willing to do some out-of-the-box thinking?
Money Idea #4: Start a Business on the Internet
Today, an internet business is one of the fastest and easiest ways to get started – even while keeping your current job. You can find a need and fill it for a very narrow market, yet still reach thousands, or even millions, of people with that interest across the world.
If you are creative and artsy, Etsy.com is a fast-growing e-commerce website where people can sell photography, artwork, jewelry, quilts, knick-knacks, and toys to people all across the world.
If you have great information to share with others, you can sell e-books, audio files, training materials, how-to courses, and other informational products online easily, without needing to ship a single box. Website platforms like wordpress.com make it easy to have a website up and running in no time.
If you have clothing or items around the house that you are no longer using, start a small business and sell them through ebay.com. Of if you enjoy bargain shopping, I know a woman who made her entire living off of purchasing children’s clothing and toys from discount stores and selling them on eBay to make a profit.
You don’t need to have a big marketing machine behind you either to successfully sell through the internet. Hundreds of websites, blogs, newsletters and clubs already have visitors, subscribers and members who could be perfect prospective customers for you. Talk to the site or blog owners and offer them a percentage of anything you sell to their readers or members. This then becomes a win-win for everyone involved.
Money Idea #5: Join a Network Marketing Company
There are more than 1,000 companies who sell their products and services through network marketing and direct sales – certainly one or more you can get passionate about. From health and nutritional products, to cosmetics, cookware, toys, educational materials, and phone services – there is something for everyone! I've been a consumer, representative and trainer to many great companies who not only have amazing products to offer, great compensation plans and com training and educational programs to support you - there is unlimited opportunity for growth and compensation. Truly, the skies the limit!
Find a company that has been around for a while and has a good reputation. Try the products and make sure you love them. If you are passionate about the products and passionate about the people, you can make a lot of money through the leverage that building a downline provides you.
Check out sites like www.onlinemlm.com/500List.html or www.dsa.org for a variety of opportunities.
Just remember, wherever you decide to put your energies, the key is to become more valuable to your current employer, customer, or clients. You can do this by getting better at solving their problems, delivering products, and adding services that they want and need.
Make it a part of your vision and your goals, visualize and affirm that you are making more money from your ideas by providing value to others. Start reading books and articles about it and talking with your friends about it. You will start attracting all kinds of opportunities and ideas. Then just act on the ones that feel most right for you.
Jack Canfield, America's #1 Success Coach, is founder of the billion-dollar book brand Chicken Soup for the Soul® and a leading authority on Peak Performance and Life Success. If you're ready to jump-start your life, make more money, and have more fun and joy in all that you do, get FREE success tips from Jack Canfield now at: www.FreeSuccessStrategies.com
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