The “magic” of making money is creating opportunities.
Not waiting for a “suitcase with a million dollars” to fall on you from the sky.
And in creating conditions for the emergence of good opportunities.
I will give an example of three options that each of us can use to earn big money.
You can choose any of them, or you can try your hand at each of them at the same time.
1) Buy a business “for people”
Look around: what products and services do people buy on a regular basis?
These are the simplest — and not flashy fashionable (like barbershops) — niches, which are always full of money: furniture, household items, bolts and screws, food, clothes, etc. things that people used both 20 years ago and now.
What to do: Buy an existing business, rather than create it from scratch.
Look for a business that is being sold by an elderly owner who is “very tired of business” and dreams of “retiring from business” as soon as possible.
These types of businesses tend to be a little behind the times, lacking a strong online presence and modern technology.
What, in fact, is what you will do after acquiring a “ready-made business” with good cash flow.
2) Become an entrepreneur
This method is fundamentally different from the previous one.
You are about to launch something very special.
To do this you will need the following ingredients:
(1) Feel the demand that is present in the market at a given time,
(2) Find a fresh idea to meet this demand,
(3) Have the talent to “not stop” until your business takes off.
You will have to go through the inevitable setbacks and seasonal fluctuations in demand.
Due to this, you can “outlive” your competitors and buy out their business (customer base, employees, equipment) for next to nothing.
Remember, you won’t fail until you stop moving and growing your business!
3) Invest some portion of your salary (and other income) every month
The hardest thing about investing and building wealth is the waiting.
Because this is the longest method, very long in time.
Due to the fact that you invest small amounts every month.
And you have to wait until the “compound interest effect” turns them into huge financial capital.
What to do: Make it a habit to buy index funds regularly.
Preferably denominated in different currencies.
But you should start by forming your own “financial cushion”, which will insure you in case of loss of active income.