Do you have the ability to make money?

http://www.youtube.com/watch?v=R9DXvwqJLZw

 

The ability to make money’ is imperative, especially in preparation for the colourful times ahead of us.

What do I mean by colourful times’? Well, everyone is cutting back; the government is concerned about the deficit’ and the majority of people who are able to secure a job are secretly scared about what lies ahead – we are living in uncertain times.

It is not a coincidence that more millionaires are created in precarious, uncertain times than in any other time in history! Opportunities are rife for those who have the eyes to see and the ears to hear. The future belongs to those who can see it, and I truly believe there is no excuse about the ability to see the signs because the writing is definitely on the wall.

So how does one participate in all of this excitement? And I deliberately choose this word; there’s no time to entertain fear when there is work to be done.

The core skill to be able to make money is one which all of us need to work on. Some people have this natural propensity to find weird and wonderful ways to make money, and the majority prefer to just work hard and still get paid by the hour.

Entrepreneurship is a skill that can be learnt and therefore taught. It’s not for some of us to enjoy, we can all enjoy the benefits of being creative and making money because you are able to solve a problem. And herein lays the secret to making money lots of it

Your ability to solve other people’s problems well, is the prescription to making money.

Another point that we must have engrained into the inside of our eyelids is wealth is not created by your exchange of time for money, but your exchange of VALUE for money.

Simon-Peter, was a very hard worker. He had a work ethic that was respected by all of his friends and family. Simon-Peter loved to work and he loved his job. His employers loved him; in their eyes Simon-Peter could do no wrong. Simon-Peter earned a good salary. His employers paid Simon-Peter £1000 per hour, because his ideas and creativity were invaluable to the company. Because of Simon-Peter’s love for his career and drive to get to the top’ he worked all the hours he could. His family and children were well cared for: private school education, chauffeur driven cars, a huge house (with a huge mortgage) and everything that you would equate to material happiness, however, Simon-Peter was never home with his family to enjoy this good life. Simon-Peter believed in working hard now so he could enjoy the fruits of his labour later.

The majority of people remind me of Simon-Peter in the story above; they are happy as long as the money is rolling in. However, let’s analyse Simon-Peter’s story a bit more. He worked very hard, he made good money, he believed he lived a good, above average life but his wife hardly knew him, his children never saw him, all Simon-Peter is concerned about is impressing his employers and keeping his high paying job. However, notice that Simon Peter enjoyed a degree of success exchanging his time for money He was paid a salary, a set monthly income, once he fulfilled his contractual hours, anything else was referred to as promotion material’.

The above example demonstrates a number of things, but predominantly, you cannot build wealth by exchanging your TIME for money. There is only a SET amount of minutes and hours in a day, and a set number of days in a week!

Even if you were paid £1,820,000 (One million, eight hundred and twenty thousand pounds) per year, you would never have the time to enjoy it, because you, like Simon-Peter, would always have to work. This is NOT wealth! More importantly, one is a slave to money, you do not have control this is NOT wealth!

Your ability to make money and build wealth is predicated on your ability to solve problems well and exchange your VALUE for money.

Simon-Peter was employed by an Engineering firm. The same Engineering firm which paid Simon-Peter £1000 per hour billed their client between, £5 million and £20 million per contract. They could charge such high fees because they were the best at what they did and their clients were getting value for money.

When you get rewarded a monetary sum due to the value you give rather than the time you spend earning, you can always be wealthy. Why?, because I could, with the right marketing, give 1000 clients great VALUE in an hour and get paid according to my ability to solve their problems. The next hour I could sell 10 times as much (provide value to ten times the number of people), but when you exchange your TIME for money, you can only be rewarded a set number of hours per days, and this is limited. Your value is limited only by your thinking and imagination. Just ask Richard Branson or Bill Gates or Steve Jobs about limited thinking and imagination when solving problems and building value.

Now there are many factors involved with making money, but the fundamental point is that if you try to exchange your time for money you have lost (the wealth game) by default.

Once you get it in your mind that you are valuable, and you solve problems, you charge accordingly because you are delivering value.

Your ability to sell then becomes the major factor after recognising you are valuable and why you are valuable, your job is to convince others that you are valuable. And once you can master the skill of communicating your worth and ability to solve other people’s problems, you will have wealth!

I repeat, this is a skill that can be learnt (the ability to sell), you do not have to be born with this skill to succeed.

However, what we are all born with is a gift or gifts/ talents that we can do better than anyone else. And your gifts are so valuable that you will and can solve other people’s problems with it. So once you establish your gifts and the problems you can solve, just sell!

Einstein said it like this: We are all genius, but you can’t teach a fish to climb a tree’.

In other words, run in your lane, do what you do best and not what others do best, everyone has a talent, harness it and then learn the skills to let the world know.

By definition, everyone should be wealthy in this world. It’s just that everyone, to some degree has been encouraged not to try and so the ones who succeed in life are the ones who take no notice. Hence you will recognise that there is no correlation between the number of degrees and formal qualifications one possesses and the ability to build wealth and make money.

Next week, I will delve a bit deeper at this marvellous skill that we all should seek to develop and how to get started.

Have a blessed week!

 

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4 Responses to “Do you have the ability to make money?”

  1. *Standing Ovation*
    I’m just loving this post today. I’ve read most of your posts which are amazing and yet this one crowns them all.

    I believe in life design – we are all capable of designing our lives and it starts with what we want to offer to the world. Oprah says that our journey in life is finding our passion/purpose and living it. However for those of us who are still looking, one thing we always have is our value which will benefit someone, somewhere.

    For years, the trend of the micro enterprise trading is rising taking us back to times before the Industrial age ie microbusiness to microbusiness such as a blacksmith will trade with a horse stable or ironmonger.

    This is the time to be creative – most others battening down the hatches and are sticking to tried and test formulae. This is the time to take risks – there’s less competition in the marketplace as other businesses have given up or gone bust. This is the time where people want value not doodahs – people are willing to make sacrifices for value in the belief and faith that their lives will be improved.

    Thanks for your post Richard – you’ve really resonated with me today and I’m looking forward to next week’s issue.

    Happy Wednesday!

  2. I am humbled by your awesome comment, Desiree. Thank you.

  3. Kehinde Olarinmoye June 2, 2011 at 8:26 am

    Hello Richard – Thank you! Thank you! Thank you!

    Like Desiree has already said, this is a fantastic…or should I say PHENOMENAL post. Every single word completely resonated with me; it’s as though you’ve been reading my thoughts of late.

    I think you have totally revealed the treasure that we’ve all been waiting for!

    Recently, I’ve felt that I have not been communicating my value/ worth properly which has resulted in me feeling extremely frustrated.

    I know that the first step is to make myself aware of my own worth before I can convince anyone else. The added frustration as a budding entrepreneur is having a constant internal debate with myself about my value/ worth in terms of what I offer as a service.
    I know what I am good at and I believe I have mastered it to a certain degree. However, when a job comes in and it’s lower than expected I feel the pressure (from myself) to accept it through fear of nothing coming in for a while.

    In that scenario, do you think I should stand strong and not compromise on my worth by turning the job down? What advise would you give?

    Thanks again!!

    Kehinde

  4. Hi Kehinde

    Many thanks for your comment, I am glad you have been blessed by what was written.

    In response to your question… I know exactly what you mean, I have been there.

    In life there does come a time when enough is enough, but there’s only one person who knows when that is, and guess who that is?

    Now, factors to help deceiding such matters would include assessing your current financial cirumstances, having a plan moving forward, having specific goals with implemementation in hand.

    My mum always says it like this…’Richard, sometimes you have to stand crooked to cut straight’. I love my mother, such a wise women. She knew what she was talking about to raise three children with just her and God.

    Life is like this, you know where you are going, but to make a particular move at the wrong time is drastic and problematic, and to make the move at the right time is a great decision. So if the move is right and the timing is wrong, then there’s no harm in waiting. But if the timing is right, and opportunity is knocking at the door…jump!

    Also, play top level at every contract you take, it’s not just about the pay, the benefits and learning opportunities could be vital for you to go to the next level, so assess all the options (hense the importance of goals) when considering the contract, not just on the pay.

    I hope this helps.

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