 There are four main ways to gain money: you either trade your time for money, you trade information for money, you give a product or a service for money, or you put something to work for money.
These are the Four Main Ways.
First is time for money. Now, this is what most jobs are, and there's nothing wrong with the job. A lot of people are going to come and say quit your job, but there's nothing wrong with having a job, and it's better than doing nothing. But this is the first level on how to make money, so what you do when you have a job is give up your time to get some cash.
So a guy will say, "If you stand here all day, I'll give you a certain amount of money." If you agree, you give up your time to make money.
I'll tell you the problem is you only have a certain amount of time. It's very difficult to get rich if you give up your time for money because you have a certain amount of time. You need to sleep. You need to eat. You have other stuff to do. You haven't got the time to sit there and get rich that way. So time for money is great, and obviously, the more valuable your time is, the better. That's fine. You can make more money.
But you still have a finite amount of time, and this is the problem with trading your time for money.
The second is information for money. The good thing about getting information for money is that your time is not explicitly linked. It can be given out or sold a million times, and you get paid every single time, but your time is no longer linked to the money, so a lot of people make money purely on information, and this can be done in lots of ways with what I'm doing right now.
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I'm making money right now by selling information to you people. I know information and I'm providing it. There are also high-level consultants who do the same thing. Information is valuable. We live in the information age. Another thing I want you guys to do is to write down your notes.
Because if you can get attention, people are going to pay attention to you, and if you have information to give them, you're going to be rich. Information can make money, so information for money is better than time for money.
You know something; you know something.
If you know how to play guitar, it doesn't matter if you know how to play piano, it doesn't matter if you know how to fix a car; it doesn't matter what it is; you must have some information that other people find useful. That information can be weaponized, and it can be turned into money.
The information is valuable if you can convince people that it is valuable.
Third, if you provide a service, you have information; for example, let's say you fix cars; you know how to fix cars; you have that information; but you're not selling the information; you're selling the service, which is distinct from the information.
Fourth, put something else to work for you; this is what corporations and the super-rich do; they either get people to work for them or get their money to work for them so that they can keep their time free, they make other people or other things give up their time.Â
In other words:Â When a company is going through a rough patch, it will often put its assets to work for them. This means that instead of selling their inventory to cover their debt, they will sell assets and use the proceeds to pay off the debt. This is called asset monetization, and it's a popular strategy in the tech industry.
