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What Is The Secret To Making Money?

Dec 4, 2007
The world is buzzing with terms like passive streams of income and online businesses. As more people look for work at home opportunities and internet businesses they become trapped in the scams and the 'get rich quick' schemes. Most of these lead nowhere. Many small business owners invest a year or two following the hype and schemes without fully understanding how to make money.

There are a few fundamental aspects of making money that people need to learn. The concept of making money is not hard, but it requires a mindset that is not taught to most people.

Time

The first aspect is that every hour of the day, whether work time or leisure, should have a monetary value. This should be calculated by dividing the amount of money that can be made into the number of hours in the day. This is the only way to calculate your ability to generate profit.

A person who works for 10 hours to generate $100, and a person who works 5 hours to generate $100 are both earning the same amount of money, but in economic terms, the second is earning more.

The aspect of 'work smart not hard' is as important to work at home ventures as it is in any small business venture. Most work at home or freelance ventures are not successful because the business owner does not use their time wisely. They may spend two hours opening emails instead of actively doing something that generates income.

Small Business Owner's Mindset

A second problem for many work at home professionals and business owners is their inability to separate the idea of a hobby or small business form the aspect of generating revenue. Many people are caught in the belief that the average person cannot build their own business. They believe the only way to generate income is to work for someone else - someone with a university degree, or who has hundreds of thousands of dollars to invest in their own venture.

This is far from the truth. Every year, thousands of people both on and off the Internet, start successful businesses with little more than a good idea and a few dollars.
Entrepreneurship vs Buying In

Most business opportunities are built on a pyramid patter. The farther down the pyramid a person is, the harder they work and the less money they make. All those 'make money while vacationing' and make money selling from your home are valid businesses, but they do not promise more opportunities than going it alone.

Knowledge is Power

If there is a secret to making money than it is 'knowledge is power.' However, people spend all their time hopping from one site to the next reading information that is written for no other purpose than to increase keyword density, or SEO. The person who wrote the article may never have operated their own business.

The key is to find a 'safe place.' A home base that can be trusted is the best place to stay. There are many strategies for success. Each of them have their merits, and most of them work when followed. However, most of them are not interchangeable.

What is a Scam?

There are many ways on the Internet to make money. Some people write for a single website and build their repertoire until they are making good money. Others blog, others focus on Google, the fact is, everything in the work at home or Internet business world is a scam, and nothing is. It all depends on how the opportunity is measured.

The internet is growing. It is still a long way from reaching maturity. Latest figures show that 939 million people have access to the internet. That is a 160% increase from 2000. However the world has a 'modern' population of 6500 million. That means that the web can grow 6x before it maxes out. The industry is still in its infancy!

More than 200 years ago there was unlimited opportunity for brave people who were willing to risk their lives to travel west. Now, the Internet is the new frontier and there are unlimited opportunities for anyone who is willing to venture into uncharted horizons and take a risk.
About the Author
Mark Walters is a third generation entrepreneur and author. He offers free training and investing videos designed to speed you towards financial independence at http://www.cashflowinstitute.com/videosignup.htm
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