Money Money Money
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| Money...Money...Money... |
Money..money...money....
In the previous post 3 methods to earn money online
were referred to.
To sum up, these were:
1. sell
yourself
2. sell
your time
3. sell
your skills
1. Sell yourself
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| Kidney for money..... |
Selling yourself is a painful
experience.
People in dire need of money have been known to sell their
kidneys. There are other ways to sell yourself. This is one approach I do not
vouch for nor do I propagate it, but yes, this is an available option
2. Sell your time
Selling your time has this limitation.
Your quota of time is only 24 hours in a day 7 days a week and 12 months a year.
If you are looking for an income on a per hour basis, then there is a challenge
and you will be disappointed too. You sell your time to the highest bidder in
return for semi-skilled or unskilled or skilled work.
You may sell your time for companionship
for example, as a helper in an old age home or to blind or to any people who
need assistance where you do not need to be skilled at anything, or just be a goody helper.
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| Time for a sale! |
You can sell your time in exchange
for money. The buyer of your time will decide how they will want you to use that
time – could be for semi-skilled work as a porter, could be skilled work like
an accountant or even highly skilled work as of a surgeon at a specialty hospital.
The challenge is that you can
start earning with about $1 or $5 or $10 per hour. You then need to build a track record of
trustworthiness, prove your ability to do a good job, and get more business for
the business or people you work for.
To earn more, you will need to be
a specialist and highly skilled, providing very specific services or goods or both to select clients.
For example, you might as a lawyer or doctor earn as much as $400 per hour or more. Further, you will
need to work long hours to get the kind of money you want. Your social, family and personal life can be all over the place if you do not balance these
carefully enough.
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| Stuck at a desk Job..... |
Most of the people who work in
jobs fall in this category. Single business owners who work as consultants and specialists
running a one-man shop too all come in this category.
The reason for disappointment in this category is
this – you get paid for the time, amount, and quality of work you put in. This means
that if you were hired for $5 per hour, then after a 9 hour contracted day, you
will get paid $5.00 x 9 = $45.00.
If your employer has medical and insurance
arrangements, these may be deducted from your salary payable. You will in fact
carry back home a lesser amount.
You may have an IQ of a genius, maybe skilled
singer but in a desk clerk’s job, you get paid to stand or sit behind the desk
and do what the boss tells you or what the group of bosses tell you to do!
The point to appreciate here is that the time invested
commands earnings in this case, not the level of skill invested.
The positive aspect is that you
may have paid leave and paid sick leave. But yes, the number of paid leaves
will never be as much as you would want it to be.
3. Sell your skills
Selling your skills in fact works in tandem with
selling your time with one difference. When you sell your time, then you become
time-bound and are required to meet time-lines, dead-lines, however, as a
skilled worker, especially as an artist, your skills are your selling point.
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| Are you versatile? |
To illustrate, if you are an actor with a versatile
face and good command of the language but you do not know how to dance and are not
action-oriented, therefore, fitting in a few select romantic roles, you will earn
less than an actor who has acquired skills in dancing, learned the nuances of boxing.
or martial arts, at the same time, has a very expressive face.
Another example in case – an author able to write to
cater only to the horror suspense audience will definitely but not necessarily
earn less than a more versatile author able to cater to the audience of horror,
suspense, murder thriller, because of their versatility, but will be limited to
the amount of time he or she is able to invest.
Similarly, highly skilled specialists earn the most
as they are lesser in number with problem capabilities not otherwise common. A
neurosurgeon is expected to be a specialist in neurosurgery. They command high
prices due to their skills and their time is highly valued for the benefits gained
in return.
The point to understand here is that the skill commands
earnings in this case, not the amount of time invested!
Now here’s the punch to the belly. To be at the top, to earn $1000s above
mentioned methods can help you, certainly, but if you want to get there faster,
there is a different path you will need to take.
Before we go down that road, here is something extremely
important to understand. It is this – why should anyone pay you at all, for the
matter of fact, why should you pay anyone either?
Anyone pays a person if he or she gets –
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| Value to the buyer.... |
- Goods or services
- The value received is at least equal to the money exchanged
- The give and take referred to in legal terms as a “transaction” is legal
- The goods and service is accepted by the receiver
The payment of money is an exchange. There are many
businesses and transactions where the payment is not in money, instead it may
be in the form of gift cards, points or any such exchange instructions understood to
have value.
What does this mean?
This has tremendous implications. Some of the
immediate implications are that you must –
- have a product or service of value
- know who will benefit most from what you have to offer referred to as your target audience or your customers
- have a way of getting your products and service across to your target audience referred to as customer”
- have a way to collect the payments
This is the simplest model of a business, which
could be your grocery store around the next corner or an online store like
Amazon.
In the next post, we look at a fourth method of earning money - Through leveraging!
Be sure to leave a comment
See you soon.
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