Dear investors,
A very good morning to you all. I am hoping that you all are doing very well and keeping safe.
As the title of this topic goes, most people believe that investing will make them rich. This notion is a bit far from the reality. In reality, Investing is not intended to make you rich, but to help you stay rich. Sure, you might have heard of few people who made fortunes in stock market, but they are very few.
More often than not, it is the people like you and I, who chase such dreams in the name of investing.
So how do you get rich ?
There are only three possible ways.
- Earn more to invest more
- Spend less to invest more
- Earn more and spend less to invest more
We must focus on what is in our control. Earning more or spending less or both, to some extent is in our control. When I say earn more, it doesn’t mean that you fight with your manager to give you a salary rise. Because that’s really not in your control. By earn more, what I mean is for you to find a way, to convert the spare time you have, or the passion you have into a stream of income.
I have to work so hard that I don’t have time.
If you consciously think about your tasks and routine, you can take out time, off of your busy schedule. There is always time but you have to put an effort to find it. It may as well be rewriting your routine calendar, but if that’s what it takes, you should do it.
We find time to watch the television, don’t we ?
Ok, I took out some spare time. What should I do ?
To start with, you can make a list of things that you can or like to do.
Go through the list and add the difficulty level to start, capital needed to start and challenges around doing it. Add your level of knowledge on the topic. Pick out the one, which least difficult to start, and takes less money. Then comes the monetizing part. This requires you to put on your thinking cap, and start thinking. Do some research on, way to monetize your gig in both online, and offline. Research your audience.
Act on it.
By the way, if you do not have enough knowledge, you can always learn by reading on internet or by taking some course.
Try to build the pipe-line
Here is a short story. There were two villages on each side of a mountain living in harmony. There existed a water source on the top of the mountain.
People from both villages fetched the water from the mountain water source. Eventually, one village decided to build a water canal, so that they can have access to water any time of the day without spending much of error lugging the water from the mountain.
While the other villagers, did not want to do that because it seemed too difficult to build the canal, and took far more effort to build one.
A year down the line, the villagers from one side of the villagers still lugging water and the other side had a water flowing through the canal 24X7.
The moral of the story is to build the water canal with whatever you plan to monetize. Lugging water will eventually get harder. Besides, you won’t be able to scale your idea.
What do I get from all this ?
The knowledge, and the money. Knowledge feeds the brain, money feeds the family. We eat to get energized, and keep our body active. But our brain feeds on new information. It releases dopamine when it gets a new information, a new idea, or a new learning. While thinking and doing something new, you will get to learn new things.
You shall learn, not only about creating value for others, but on how to sell your product or service, how to market it, how to research about it, and the reason for its success, or failure.
You get to learn lot more things besides earning money.
What do I do with all this extra money ?
It’s simple. INVEST.
Eventually, when you have enough money to provide for your family, and having all the time in the at your disposal, you will be the richest man in the world.
