“How to get rich”: there are few more written upon topics in the history of history than how to get rich. Is Real Estate Investing the Number One Way to leverage yourself and build wealth easily? If you’re an entrepreneur who is constantly striving to get to that next level in your life, your business, and your finances, you’ll likely agree with me when I say that we entrepreneurial personality types have an insatiable appetite for consuming material on how to get rich, and how to leverage yourself to build wealth easily. As a real estate entrepreneur who writes often on investing, I’m not going to focus on how to get rich in real estate investing with this article. In fact, I’m exploring if there could be something even better for building wealth easily. An even more powerful way to leverage yourself!? Let’s see!
Build Wealth Easily?
But despite our best efforts and intentions and goals, that doesn’t mean each of us is able to figure out the why, where, who, when, and most frequently the what of how to get rich. Not all of us can drive every vehicle capable of shuttling them to success equally or as quickly as they might another vehicle. That’s why I wrote this article. Real estate investing is my passion. Real estate investing can build and keep wealth like nothing else. But I won’t claim it’s the best vehicle to build wealth easily. In fact, I’m not sure it is!
This article will help some of you see the types of actions and scenarios likely to take someone reading about how to get rich and propel them into a future full of success and sharing with others how to get rich– just by taking each of these vehicles for a mental test drive.
I believe one of the fundamentals of how to get rich is becoming a master of leverage, learning to leverage yourself by learning and applying systems of duplication and delegation and automation. By using creativity and the creation of value to multiply your results with the systems, efforts and resources of other people and organizations, you can be sure that every minute and every dollar you spend in pursuit of your goals learning how to get rich will come back at you in droves.
In real estate investing, I’m familiar with a lot of these methods to leverage yourself, as you can see from visiting the website — but what about these other plans for how to get rich?
That brings me to the top 13 ways in my opinion to get rich in today’s world– without having to be someone special, have special knowledge or look like a million bucks– as I see them, with an emphasis on how much LEVERAGE you have.
How to Get Rich Top 13 Answers
13. Steal the money
Whatever your religious beliefs, or whether you are consciously aware that there is a God or not, stealing money from others is not a great strategy on how to get rich. Humans are hard-wired with a conscience that in most cases knows right from wrong. Few people can live a full and happy life knowing that their fortune was built on robbery, theft, deception, trickery, or lying. It may appear the “easy route” but in the end karma always wins.
12. Winning the lottery
We do not value that which we did not work to earn. Sure it’s nice to fantasize about what we would do with a hundred million dollars, or fifty, or twenty, or ten. Some people say they play the lottery as an “investment vehicle”. The only more ridiculous statistics than the odds stacked against you winning are the statistics of what happens in the financial futures of the average lottery winner: 4 in 5 are BROKE or in debt within 10 years. How? When you have a paycheck to paycheck mentality (as much of the world does) lottery winnings are just a much bigger paycheck. For most people, as one’s income increases so too do the expenses–but faster. Lottery winners who did not have some financial success already are doomed to lose it all.
11. Being born rich
Napoleon Hill once said, in paraphrase, “there is nothing more dangerous than unearned
riches”. What did he mean by that? It’s a simple factor of human nature that the more we are given the less we appreciate. Or know the value of. Or how to get it on our own. There’s a reason predators bring meat to their young early on but later set them loose to learn how to feed themselves. The worst possible position to be in, should you lose all your wealth, is that of never having had to learn how to get rich in the first place. The only reason this is better than winning the lottery is because if you are determined to make it happen, you’ve already been exposed to wealth– so you’re not mentally limited as to how much you think you can earn. That’s a huge limitation for many people looking to build wealth easily, not having “seen” wealth.
10. The professional/corporate grind
Being a regular 9 to 5 employee with a guaranteed salary, benefits, 401k and stock options, and job security is not a negative– unless you want more than trading your time for dollars, that is! Admittedly, for some people, there’s something to be said for the safety of a secure, well-paying job that makes us feel normal. You can get rich just by living below your means and investing the difference– even teachers who made no more than $30,000 a year have died leaving multi-million dollar estates. This is great if you are patient, disciplined and can wait 30 years– but it’s not MY idea of how to get rich. Nor is ANY job or career exactly so “safe” anymore in today’s world of downsizing, layoffs, outsourcing, off-shoring, corporate mismanagement, and eroding benefits. Worse, you’re not using leverage here– no matter how hard you work, you can leverage yourself to a great degree as an employee! You’re a cog in someone else’s machine as an employee.
9. Unlimited income direct sales
Sales is one of the highest-paying professions in the world. It can also be the lowest-paying
profession in the world. Being a commissioned salesperson with no earnings cap on commissions
can bring in a lot of money if you’re good. IF you’re good and you bust your hump. And if your product is solid. And if the economy is strong. And if your company stays in business. And on and on. Too much is not in your hands! The main issue though is that the skills that will avail you of a successful career in professional sales can be used much more efficiently when you leverage yourself by using other vehicles to channel your talents.
8. Franchise Owner
2 + 2 = 4 no matter whether you can do math or not. Franchises are set up to be businesses run based on a system already proven profitable. Whether they are as “turnkey” as their promoters claim is debatable, but there is certainly money in the franchise game to be made. It’s no wonder economists have labeled the franchise boom of the 20th century as the McDonaldization of business when the average McDonald’s restaurant franchise grosses $1.9 Million per year for its franchisee owner. Still, the financial barrier to entry can be as high as a normal business and in many cases even higher.
7. Network Marketing
This one could closer to the top of the list if the opportunities available were worthy to be at the top–most aren’t. If you find the right opportunity, however, and work it with a vengeance on a consistent basis you can gain leverage yourself substantially by using other people’s time. Unfortunately, most people never find the right company at the right time and make the right choice to take action. Then, when they fail, as 9 in 10 do within a year, they give up never having gotten past the dream of buying into someone’s plan to teach them how to get rich–and into the reality. However, for the person in sales who can sell and recruit, network marketing is a better answer in many cases than just conventional selling– for the simple fact that you’re building your own business and residual income streams that will continue whether you continue to work or not.
6. Information Product Sales
Internet marketers of today are capitalizing in ever-increasing numbers on human nature tendencies direct marketers have known for many, many long years. There are some “problems” we have as people that there is NO LIMIT to the amount of money we will throw at the problem trying to find the perfect “solution”. The best markets to sell information products to are: (1) Business Owners Seeking Solutions (2) Better Appearance Seekers (3) Business Opportunity Seekers (3) Diet & Fitness Seekers (4) Dating Advice Seekers and 5) Avid Leisure Hobbyists. The best part about information product sales is the low overhead cost to produce the products you deliver, and the high profit margins you can earn.
5. Business Owner
Business ownership has many more benefits than can be touched on in a short paragraph but suffice it to say that if you’re not in business for yourself you should be. There is little more fulfilling than being your own boss, and working to build something that might outlast you. The cash flow, the tax benefits, the respect in the community, the outlet for creativity– all of these things make owning a small business (or growing a large one) a large part of the average human dream. As a business owner, you can incorporate many of these other vehicles in your plan for building wealth easily.
Clearly, celebrity sells. There are many mega-millionaires on this planet with no other talent than somehow managing to capture the interest of an audience worldwide (or even regionally) longer than their allotted “15 minutes of fame”. Publicity equals better than advertising and advertising done skillfully equals revenue. Celebrities are money machines who can make money in most of the rest of these categories but there are three reasons this is not nearer the top of the list. Despite the number of “what did they do’s?” out there , there are many more celebrities who are famous for a reason– they worked very hard to become the best (or best promoted) at what they do– be it sports, entertainment, speaking, etc. Secondly, there is a very high barrier to entry to this kind of life, one most people just do not have the look, skills, contacts, nerve, or charisma to break into. Lastly, there’s a huge cost to celebrity that would take it out of the top choices of a “best ways on how to get rich” list: your privacy is nonexistent in today’s world of celebrity.
3. Intellectual Property
With income streams from licensing to franchising to royalties to patents, copyrights, and trademarks– creating intellectual property is a serious method of building wealth easily. Musicians, authors, inventors, creative artists, franchisors, entrepreneurs, and high-level marketers are all making tons of money, residually, for many years from work they completed just once. This is a very high leverage activity! Books, music, ebooks, graphic and multimedia designs, software, copywriting, inventions, franchisable sales systems, the list goes on and on. Is this a vehicle you can put into action tomorrow? Not usually! But as you make your way in the world of wealth do not forget to use intellectual property to leverage yourself!
How to Get Rich: Real Estate Investing the Best?
2. The Real Estate Business
It’s widely accepted that 90% of all the world’s millionaires either made or keep their wealth in real estate. Water is wet. The sky is blue. Over time, real estate goes up. These are simple facts. Contrary to the “get rich quick” infomercials you’ve seen, though, figuring out how to get rich in real estate investing isn’t easy. But it is simple, once you understand the processes involved and actively and consistently pursue the business. Real estate investing is one of the highest forms of leverage we have as entrepreneurs, with savvy investors utilizing not only other people’s money, but also other people’s time and even other people’s credit. The real estate business is full of wealth-building opportunities: foreclosures, rentals, lease options, commercial properties, short sales, tax liens, being an agent or loan officer, investing in notes and mortgages…the list goes on and on! Of these, investing in notes and mortgages is pretty high on the easy scale, getting the benefits of real estate without some of the management headaches.
I obviously believe in real estate investing, but I’m not so sure there isn’t an even better, easier, higher leverage vehicle out there for creative entrepreneurs like you and me!
1. Joint Ventures (A.K.A. Strategic Alliances)
Joint Ventures is the best way to build wealth easily. Scratching your head? Well, soon you’ll see that doing successful joint ventures to make massive cash with minimum efforts and minimum risk is just common sense. Too bad common sense ain’t common! If you can master putting together joint ventures, you can be assured that if you build wealth and lose it all– you can quickly earn it back. When you master joint ventures, everything you need to get started again building wealth easily is now in your thought processes. It’s become as simple as common sense. This is because with successful joint ventures you don’t need products or services or inventory. You don’t need an office, factory, employees, customers, or anything else traditional businesses need. You just need ideas. Of course, if you have any of these things, it only makes it easier because you bring something even more to the table than your brilliant ideas. The basic formula of how to get rich with joint ventures is answering these questions: “Who do I know?”, “What do they have?”, and “What do they need?” Then you play deal maker. That’s it! Zero risk, high profit potential. The ultimate in way to leverage yourself to build wealth easily.