The 4 Ways to Make Money
Did you know there are only four main ways people make money? Myron Golden calls this the Window of Opportunity. Most people start with Having A Job (HAJ), where you trade your time for a paycheck. This is the least effective way to build wealth because your time is limited.
The next step is Owning A Job (OAJ), like a doctor or a lawyer who owns their practice. You still trade time for money, but you earn more.
The two most powerful ways are Owning A System (OAS) and Sowing Money Seeds (SMS). Owning a system means building a business that makes money even when you are not working—this is passive income. Sowing money seeds means investing your money so it grows and makes more money for you.
Rich people understand how money works, and they focus on OAS and SMS. Poor people only understand how to work for money. To move from "Trash Man to Cash Man," you must shift your focus from simply working for money to owning systems and making your money work for you.
When I was young and making sales calls on businesses, I decided I would not only interview them to qualify their interest and ability to buy what I was selling, but I would also ask about their plans for growth in the company. This opened the conversation to job opportunities. When I met someone looking for a job, I referred them to some of those situations. AND, I kept the ones that interested me and moved up the income ladder.
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