Nearly 63% of People in their 20s to 30s think to own a business. The reason is not just to follow their passion but also to become rich soon. The thirst for becoming one’s boss and hunger to accumulate millions is felt by almost every youth. You Might be in the same boat too.
That’s why the internet is flooded with millions of content regarding fast money-making tips. If you are too looking for those ‘Get Rich Fast’ ideas, this article is not for you.
But those who want to learn the essential fundamentals of improvisation and apply those skills to whatever field they are pursuing are welcome to do so.
In this article, you will learn about preparing yourself to be better, smarter and ahead of fellow competitors.
So that you can explore all the answers about ‘how to be good at making money’ in any profession.
Let’s jump in.
Ask Yourself The Right Questions
When you want to earn Good handsome money, the first few questions come into your mind: How can I earn money so easily? How do I earn a lot? How to become a millionaire? or How to make money in one hour?
Right!
But
You mustn’t ask such questions yourself or anyone else if you are looking for ‘How To Be Good At Making Money’.
Reason?
You will get popular and overly discuss business ideas that almost everyone is doing or planning to pursue.
Tell me, when everyone is on the same path or process you plan to follow, how much probability will you have to succeed?
Very little or maybe next to zero in most normal cases until you do something extraordinary with loads of good luck.
It’s already too late. Standing in a long queue waiting for your turn could lead to delay and frustration.
So what to do?
The better solution to this scenario is to create a new idea. An Idea that provides a solution to a problem people are facing often.
What Problem can I solve and How?
Remember you get paid handsomely only when you solve a problem or become a part of the solution people ask for.
The bigger or more painful the problem, the bigger the opportunity to provide a suitable solution and thus the chances to get paid well.
People love solutions when their daily life becomes easier than it was before and they willingly pay for it.
There are thousands of problems around us we barely notice until someone else observes them and comes up with an idea cum solution.
So how can you find them? The next question is all about that.
What Are Your Strengths and Areas of Interest?
Everyone on this earth is blessed with something. And everyone has some real skills and their passion for something.
You need to look at your likings/interests in a particular field. Analyse your skill, which is better than others or at least you feel you do great in it rather than others.
Let’s say you like watching youtube for hours and you are truly damn good at cooking delicious home recipes.
Watching YouTube is your liking and cooking good home recipes is your skill. So you can create videos of cooking your recipes and upload them to your own YouTube channel, and Instagram/FB pages.
You can start your small kitchen, take orders from online food deliveries and promote yourself on social media.
This is how you hit two targets at the same time,
1- Entertainment on YouTube/Insta and 2- Education in giving cooking tips.
You can generate countless ideas of your interests and skills and blend them with the market problem or need.
Find a juicy spot in between market needs and your interests.
How Do You Earn Money?: When People Give
All the money you earn or wish to accumulate in your life, comes from other people. How does that happen?Whatever job, business or self-employment you pursue, it deals with other people as services and products. And this is how you make your way of earning.
How will you manage to get those people to give you their money? Simply by offering them something they need and paying for it happily.
Add Value to People’s Lives
If you want to earn a lot of money, add high value to other people’s lives.
When you desire to earn a huge amount of money and explore how to be good at making money, you need to offer something valuable to people and avail it to them.
Use your skill to create something needed and add value. When you add sufficient value to enough people’s lives, money automatically comes into your life as a natural result.
Every invention like FB, Google, EVs, Uber, OYO, Youtube, Mobile, and Amazon brought enough value to people’s day-to-day lives.
This is how they become a giant in their sector and their owners become billionaires.
Add Value But Don’t Mismanage Your Finance
Adding value only to something people need won’t help you in being a money magnet. You must learn the ‘Skills’ demanding to manage your financial and business tasks wisely.
Many enthusiasts brought enough value to people’s lives and made plenty of money in rewards.
But, ultimately they either foolishly squandered their money or completely failed to manage their finances and savings and lost their entire fortune.
Remember,
If you focus on only the money, you will certainly fail to add value. On the other hand, if you focus on only adding value but mismanage your finances, you will fail to keep your prosperity.
You will need to master the required skills to do both jobs.
Be Realistic And Accept Facts, It’ll Help
Being realistic is a virtue. You can analyse the feasibility of your goals, the actual scenario of expected money and the success you can earn only when you are realistic.
Be realistic about what to expect when you put effort into creating something you believe is valuable.
Generally, people assume they are doing miraculous when they start something but in reality, they could be far away from the success they ever expect.
Separating yourself from others is a good approach but this requires hard work, polished skills, effective decisions and flexible strategies to achieve your targets.
If you have only basic skills in a particular field but still dream of standing out among thousands of others, doing the same, how can it be possible?
You Better Research On Your Risk & Reward
Do you know on average 2/3 of businesses/startups shut down within their 10 years? Yes, it’s true. In a survey conducted in 2023, it came out that 23.2% of private sector businesses in the U.S. fail within the first year.
According to the data issued by the U.S. Bureau of Labor Statistics (BLS) 36.2% of new businesses fell within 3 years. While 48% of new businesses shut down before they completed their first years.
In the same way, 59.6% of new businesses failed after 8 years and 65.3% of new businesses ended their journey before 10 years.
This is not to tell you that you can’t or won’t succeed, but you must understand the facts with an open mind and know all the risks you would face and the expected rewards.
Investing a substantial amount of time and money into a venture that ultimately fails can set you back significantly, forcing you to “Restart” your life 5 or 7+ years back in life.
‘Get Rich Quick’ – Beware of Such Schemes
‘I started a dropshipping/Import-Export/Online business with zero money and within 2 years I am earning 2 million per year. If you want to learn how I did all this join my course/webinar’
Stop! Stop! Stop!
Stop believing in all this nonsense. Avoid all the Get Rich Quick schemes at once. It is so easy everyone would have been doing it with less or no money investment and become rich.
Why are they offering such quick easy schemes to make you rich? Why do they need to sell their courses? When they have already earned millions?
Sales, Marketing & Networking
Sales, Marketing, and Networking. These threesomes are the most beneficial and awesome skills you must acquire to achieve wealth.
These three musketeers are equally productive and highly needful in any work field and sector.
Whether you are an actor, a player, a lawyer, a dentist, a professional MMA fighter, an employee in a company, a local store person or even a politician.
Everyone needs to sell his/her skills, is required to do marketing of their own and establish networking to get better opportunities in future.
If you know how to sell, you can exchange products, services or ideas for money. This is how every business companies generate income.
More sales mean more income, that leads to more growth to be rich.
However, if you understand marketing well, you will not just sell but spread the need for having products, services and ideas to the world.
In this way, people come to you to buy your offerings, delivering even more money. That’s how you create chances of being truly a rich person.
Now the third Musketeer Networking.
If you know how to establish a strong trustworthy network, you can easily surround yourself with the right people in the right places.
People who will support you, assist you and guide you in creating, selling, and marketing your products, services or ideas.
Selling is All About Solving Problems
In sales & marketing, there is a saying “Make a customer, not a sale.” by Katherine Barchetti.
Can you tell me what successful sellers know that you don’t? They know sales involve more than convincing people to buy their products/services.
It is all about solving a problem and comforting the people. This way they become ready to be your loyal customers/consumers.
So, to become good at the skill of selling, first, become good at finding problems to solve. When you do, you make a relationship with people and eventually you will feel that selling is not that hard.
Create a Good Demand in the Market
Being good at Money-making is simply a demand-and-supply concept. The stronger the demand and huge supply on time, the more money you will get.
So create a good demand once you figure out a solution to a particular problem people are facing.
Just be sure to create value for yourself that people need your assistance. It’s like there is no option for them other than you.
To create such an opportunity you must invest in yourself.
“Whatever you are, be a good one.” – Abraham Lincoln
To understand what Lincoln meant better, watch and learn what Warren Buffet is stating.
Work On Your Savings, Watch Your Spending
Suppose you have achieved your goals and become good at making huge money in a few years, next what?
You will buy a luxury home, car, and other things in most scenarios. You will blow parties often in your success, and spend money like kids waste water in the bathroom when they are told to take a bath on their own.
Remember, earning a lot of money could be a cakewalk for you, but if you don’t learn how to manage this huge money and are unable to control your overspending, there are chances you will have nothing in a few years.
Do provide something of great value to people, market yourself properly, and establish yourself as a brand, this way you will have lots of great cash flow for years to come.
And when it happens manage your capital wisely, save it, and invest it to earn even more and continuously by knowing the right investing skills.
How to invest with no knowledge will provide you with enough in-depth guidance to learn how to invest easily to make money from money to be even richer.
6 Skills Helpful To Be Rich
Dream Big and Have A Vision
Dream and dream big. If you have goals in your life write down the ‘WHY’ behind your every goal. Your goal should be an inspiration to take action. Otherwise, you are going to be a sitting duck.
Think Creatively
People generally don’t think, even if they do they think most of the time pointless or less important or less productive. Start thinking about your goals and how to achieve them. Think out of the box to make a difference.
Master Your Mindset
- Use positive language in your conversation.
- Eliminate all negative emotions and focus solely on positivity.
- Utilize phrases/sentences that inspire strength and Success.
- Start positive affirmations as a regular practice.
- Channel your thoughts towards a positive direction.
- Maintain a strong belief in your ability to achieve success.
- Learn from past setbacks, and evaluate your mistakes.
- Appreciate your every accomplishment.
Manage Your Money Wisely
Making huge money only won’t make you rich. You will have to learn how to manage your finances. It would be a smart decision to pay yourself as an employee, then save and invest it in good returns options. Take help from others, and ask experts for their guidance.
Create as many sources of passive income as you can. How to Understand Finance for Beginners will help you to learn and apply basic in-depth concepts of finance.
Value Your Time
What makes a difference between a poor and a rich other than money is Time. Poor people spend time to save some money while Rich people spend money to save time, even if it is little.
Value your time, save it and use it to improve your efficiencies to be good at making money. Your 80% results come from 20% efforts. This means you spend 80% time on worthless or less productive tasks which give just 20% results.
Leadership
You can never achieve your goals and be good at making money in any field without this quality. First, you need to encourage yourself to take enough action to succeed.
Once you can inspire yourself even in your setbacks, you can motivate others to do the same in challenging situations.
Set your goals, organise yourself and your team (if it is), get inspired and motivate others to accomplish targets, take initiative rather than sitting duck, and establish good relations among people.
In Short
Everyone has significant opportunities to achieve great goals and make handsome money. They don’t know the conditions required to be met.
Before cherishing the dream of becoming rich, Before nurturing the dream of being rich, one must sow seeds of these essential qualities.
If this is challenging for you, good it should be, otherwise everyone in this world becoming rich. If you don’t feel it works, even better. This is how winners are filtered from the mediocre.
Now it’s up to you.
Do you see yourself as a winner and start working on it to be good at making money or do you prove everybody right about you, the way you have been in your life?
