Can I Earn More Money? This must be one of the most frequent questions asked.
It’s probably right up there with the question “how can I lose weight.”
The simple answer is; Yes, anybody can earn more money. There’s no shortage of money in the world, and there’s certainly enough for everybody to take more than their fair share.
It’s how you go about doing it which you need to be clear on.
Bob Proctor says there are only 3 types of money earners in the world, and everybody falls into one of these categories.
He calls them M1, M2 and M3 types.
The M1 money earning bracket applies to probably 94% of the money earning population, and is without doubt the worst way to earn money.
This is where you work for somebody else trading time for money.
You have no control over when you work, how much you get paid or what your worth is. And it’s not your fault.
We are conditioned from birth to conform, and then conditioned throughout school to get grades, get a job and put a bit of money away for a rainy day, or a pitiful retirement.
You will never get rich being an M1 type.
The best you can hope for is to eventually clamber to the top of your tree and get paid a bit more than the M1 types below you.
And as for earning more money, forget it. If you take a second job, or a third job you are still trading time for money!
You only get 24 hours in a day just like everybody else. And in that 24 hours, you still have to sleep, eat, deal with family commitments, and so on…
The M2 money earning bracket applies to the next 3% who use investment as a a vehicle to generate income.
They trust their money, often their whole life savings to somebody they don’t know who will invest it on their behalf in stocks and shares, or whatever it may be in the hope that the value of the investment will rise and produce an income they don’t have to work for.
Great in theory, except that if you don’t know what you are doing, or worse still your broker doesn’t know either, then you can have your total money pot wiped out in seconds.
Obviously, a lot of savvy investors do make a lot of money with this type of strategy, but it’s risky and most likely the reason it only attracts 3% of the income generators.
Another reason it only attracts 3% of the income generators is that the 96% of M1 types don’t have any spare money to invest anyway, so are naturally excluded from making this choice.
If you want to earn more money. In fact if you want to earn limitless amounts of money then you need to join the M3 set.
These are the men and women who throughout history have understood the power and meaning of MSI.
Multiple Streams of Income.
MSI is why 85% of the world’s wealth is earned by just 3% of the earning population.
Setting up multiple streams of income; income that happens automatically means that you can leverage your time and you are no longer trading time for money.
It means that money can flow into your bank account if you are asleep, on vacation, having a nice dinner in a top restaurant, or whatever you are doing.
Best part is, you don’t need to be highly educated to do this, or an expert in any particular field.
In fact, some of the least educated people I know have made fortunes setting up MSI’s.
So What Are MSI’s and How Can I Set Them Up?
Richard Branson understood the concept of multiple streams of income from a very early age and developed his Virgin Records mail order business into Virgin Records stores, Virgin Money, Virgin Airways and a whole host of other Virgin concepts. Each one a different income stream.
In fact if you narrow it down to the Virgin Record stores concept, then each store is an income stream and he had them in every town in the UK with global plans, until of course people started downloading music and stopped buying records and CD’s.
This is the same with any other multiple retail concept, one of the best known being McDonalds. Each store is an income stream driving money into the owner’s bank account.
Moving away from shops and retail, every service business owner adopts the concept of multiple income streams, whether they realise it or not.
Take your everyday plumbing or electrical service business for example. It generally starts off with the owner in a van doing the repairs. If he’s lucky, he has a wife backing him up answering calls and looking after the books (usually for free).
At that point he is an M1 type with a single income stream and still only 24 hours in a day like the rest of us. He can’t physically earn any more money.
But then he realises that if he takes on another tradesman and pays him $10 per hour but charges him out at $20, then he has a second income stream.
This of course can be scaled up as the work load increases, and each extra man becomes an extra income stream straight into the business owners bank account.
That’s Fine, But What If I don’t Want That Type of Business?
I’ve used the above as an example of a multiple income stream just to get you pondering. However, if you are not in a position to start and build that type of physical business, there is a great alternative and it’s the one I use along with many people throughout the world.
It’s called Affiliate Marketing.
The concept allows you to promote other people’s products or services, usually online and receive a commission for every sale you make.
There is no shortage of goods or products to promote, so you don’t ever have to create your own products or hold any stock, and the beauty of it is that you can set up as many promotions as you can manage with each one being a separate income stream.
You can run this type of business from anywhere in the world and without the cost of an office or staff.
It’s the perfect form of MSI
But I don’t Know where to Start or How to Build a Website.
As with anything in life, you rarely know how to do anything straight out of the gate.
There’s only two ways to learn. Trial and error or have somebody show you.
Trial and error is fine but it can be costly, very time consuming and you’ve no guarantee of doing it right.
Having somebody show you how to do it, how to do it correctly and using the most direct route can often save you months, or even years of frustration and costly mistakes.
I belong to an organisation called Wealthy Affiliate.
Wealthy affiliate is an online training platform that teaches you how to build small micro websites especially geared towards affiliate marketing. It also teaches you the concept behind successful affiliate marketing, and best of all it hosts your websites too.
In fact you can have a website built, hosted and ready to accept your offer in under 30 seconds, so imagine how many MSI’s you could set up when you can do them at that speed.
And no, you don’t need any prior knowledge of building websites. It’s all done for you with a few clicks of your mouse.
How Much Does it Cost to Get Started.
There is no initial outlay to become a member of Wealthy Affiliate and access all of the training, web building and hosting, but there is a very modest monthly fee.
You can read my full review and honest opinion of Wealthy Affiliate, along with options and prices Here
In fact, you can actually start as a FREE Member to try it out and see if it’s a good fit. You get access to build and host 2 websites, plus access to the initial training modules. No credit card or payment required!
So to answer your question ‘Can I Earn More Money?’, then the answer is a resounding YES, and it’s far, far easier than you think.
So What’s Holding You Back?
Ah, there’s always a catch!
Something that holds you back, paralyses and freezes you from taking action.
You know you have to do something to change your situation, and now you know what you need to do. But in 6-months time you’ll likely be in the same, or worse situation because you’ve been undermined by your own fear and scepticism.
Don’t worry, it happens to everybody at some point. You just need to learn how to get over it.
Watch the video below and take inspiration.
You can, and you will earn all the money you want and desire.