Wealth Creation Formula (Value = Money)
Making your first dollar can be very easy but making your first billion dollar isn't the same. There are different ways to make money and for every level of financial wealth, there are different requirement. If you were to make your first $1, you can get it from selling candy or holding a bottle of water for a person who is thirsty. At this point, making money has to do with demand and supply. Either you are selling to make a cent or to make billions of dollars, one thing is certain, exchanging value is important since value equals money.
If value equals money, then more value equals more money simply but it isn't about adding value most times, it is about creating value a lot of times. Getting an old stuff and rebranding it is enough to increase the value of that stuff to over 200% in profit. With this, a person can make what is somewhat useless to become something that is very useful.
When it comes to making money, your skills can be very useful to bring the money to the table. Learning programming can look like a simple skill but you will be shocked how much people are willing to pay on platforms like fiveer and upworks. Working on these platforms will mean bringing money in when you work but in other to make money when you are not working, then you need to create products with your skills like a website, or a tool thereby turning yourself to a founder from being a freelancer.
You need to turn your tool into business and it will only become one when it can work without you being behind the screen. You need to move from a little project to an actual company and since you already have a product, you just begin to build a team. In the principle of value equals money, you cannot go alone, you need to go with people if you want to go farther.
When you create a team, then you begin to create a brand because you need people to trust and believe your brand instead of just buying without trust. With brand, you turn trust into money and you do it in your ecosystem. Ensure you have a strong infrastructure that can stand and perform even when people do not know. It should be able to power other business and essential to other people's business.
Posted Using INLEO