The ‘Secret’ to Creating Wealth or How to Make A “Wealth Engine”
Do you want to know what the ‘secret’ is to creating wealth?
Like most really powerful pieces of information that truly have the potential to change your world and your life – this one is so simple, so instantly “Oh yes – well that’s obvious isn’t it”….that most people don’t take it onboard and of those few that do – even fewer use it…
Life doesn’t have to be complicated – yes this is simple but after you read this, don’t do what you were intending to do after reading this – and do yourself a favor…read it again and think about it…
So…here it is…the Secret to Creating Wealth is your ability to….leverage.
What is leverage? Some people would say its the ability to make more with less….or better yet, the ability to make full use of all of the resources which you have access too – and the secret sauce is being expansive in your thinking about what you truly have access too…
…get creative when thinking about that…creating wealth is often about pulling the different pieces together and creating something productive from it…creating a “Wealth Engine” by leveraging all of the resources you can find….
There…simple right? Too simple?
Lets go through a few examples….you have $1000 and you decide to put it into a savings account…and given today’s interest rates, you get a grand sum of 1 or 2% after a year.
Are you leveraging your cash to make you wealthy? Have you created a Wealth Engine?
Let’s also take a look at an entrepreneur – the founder of a company that sits in his or her basement and works on their ideas – tinkering and experimenting. What are their chances of creating a Wealth Engine?
Slim right. Ideas are just the start…you need to leverage multiple resources to create a wealth engine. You will never be rich from just the ideas…eventually, you have to bring them up into the daylight and let others get involved. You have to leverage the expertise of other people to stand the chance of creating your own “Wealth Engine”.
Unfortunately that’s what many of us do, although we don’t realize it, we go through life being a productive person of one – what we absolutely need to do is to get others involved, especially people that have done it before and we need to have others working hard with and FOR us….that’s leverage.
I read an article sometime ago from a person in a different field called Yaro Starak – the article was about how he was able to make a step change in his business, a transformation that allowed him to significantly increase his person wealth – that day was when he stopped trying to do everything himself – he literally recognized that by leveraging the expertise of others, he could be more productive with a much higher quality output than if he tried to pull it all together himself.
The same lesson can also be seen in the use of money…the assumption or standard thinking is “Debt is bad!”
In almost all cases that would probably be right…most people use debt to get poorer.
But consider leverage – if you can borrow for 5% and invest with a return of 8% – is that bad or good debt?
And lets come back to the entrepreneur again…if an entrepreneur truly understands how to leverage all the resources at their disposal, the people, their experience, their motivation, the advisors, the investors and more….then the entrepreneur has a real chance of creating a Wealth Engine and the investors will have a better than average chance that they will be a considerable return on their investment. Their secret to creating their own wealth engine is spotting the entrepreneur that can leverage all of the resources available to them…
Your secret to creating wealth is to look around you and think smart about all the resources you have access too and how they can be leveraged to make you wealthy – one day at a time.
Reading these articles and establishing a relationship with me through your emails and comments is a good start at getting more leverage.
…and again – thanks for all your emails and comments – I appreciate hearing your suggestions and thoughts. Keep them coming!
If you found this useful or thought provoking, please join my mailing list. I am in the process of creating tools that will help entrepreneurs with investors and venture capitalists – this is a prime way to get more leverage…plugging into the experience of someone that has done it multiple times themselves and helped others go through the process too….so, join my list and I’ll tell you all about them when they’re ready to be launched.
Ps: Any more questions? Reach out via the contact page above and join my mailing list by adding your name and email in the box to the right. I’ll also send you some valuable downloads to help…
PPS – here’s some help that will be briefly available before I bundle with a larger offering
Related articles by Zemanta
- Survey Finds Venture Deal Terms Improving, But Still Below Historical Levels (xconomy.com)
- Why Venture Capitalists Avoid Innovation: They Like Making Money (onstartups.com)
- How to Size Up a Negotiation (blogs.hbr.org)