Therapy Business and Finance

Posts Tagged ‘Make Money’

Very few people ever got rich by working for someone else. Leaving aside pop musicians, sportsmen and similarly gifted people, the only way to acquire wealth by work is to build a business of your own. The type of business you decide upon will depend on: a) how much money you have acquirable as start-up capital and working capital; b) your business idea; and c) your confidence level.

There are three types of business: 1) the traditional one in which you are reliant solely on your own efforts; 2) a franchise where you follow a proven intent and receive considerable training and back-up from the franchise company; and 3) network marketing.

Each business type has its pros and cons.

• The traditional business requires considerable financial input, either from your own resources or part-funded by your bank. You might need to rent premises; purchase equipment; hire staff; pay for advertising, brochures, stationery, and stock. A frighteningly high percentage of this type of business fails in the first year. To succeed you need: a good idea, considerable financial backing, good health, an understanding spouse, and stamina. If you do succeed you will own the business outright and benefit from all the profits.
• Franchises have a high success rate. Banks like them because apiece franchise operation has a proven track record and thus the banks can accurately judge the risk, consequently they will lend money for this sort of start-up. However, all the support and training comes at a price: the initial entrance fee is likely to be very high, and a percentage of the business’s turnover has to be paid to the franchise company.
• Network marketing, also known as multi-level marketing, has many advantages and few disadvantages. The entrance fee is low and the ongoing expenses are even lower. A network marketing business can be started in your spare time – in fact that is the ideal way to approach it. Begin small, and keep at it. The secret is perseverance, get past the first year and you should find the business has a sound foundation from which you can build a serious income. It is stated that 95% of those who survive ten years in network marketing become wealthy beyond their wildest expectations.

So which type of business is for you? If you wish to wage a service or product where you have previous experience from, say, a former employment, the traditional business will be probably be the ideal choice. However, if you are just exhausted of working for someone else and making them rich and wish to strike out on your own, then a franchise or network marketing must be the preferred option.

The choice then is determined chiefly by the funds you have access to, and the time and effort you wish to place into your enterprise. A franchise will require substantial funds and 100% commitment. You are jumping in at the deep end, even though the franchise company will wage training and support to help you to swim.

On the other hand you can assist yourself gently into network marketing by starting part-time while you continue with your current employment, building your business by ploughing back profits if necessary. Persevere and there will come a time when the income from your own business will be adequate to support you financially. You will then be healthy to leave your employment and concentrate on your business, spending more time on it or enjoying considerable free time with your family.

There are three basic ways of earning money which include trading time for money, trading money for money and trading expertise/value for money.

Society and the formal education system promote the first method of earning money which involves trading time for money. In other words, you work for someone else for a specific amount of time and then they pay you. Working for someone else drains your energy and you don’t make much money.

The second way to acquire money is utilized by a small portion of the population and involves trading money for money. In other words, you are earning money through investing. Investing can be risky because if you demand additional funds then how can you invest any money in the first place? Therefore, many people can’t even try this option because they only have enough money to pay their bills.

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Sometimes new money making ideas are immediately usable. However, sometimes you just have to let your imagination run wild and be impractical. This is a way to get that creativity going, and no matter how crazy the ideas might seem at first, there is usually a way to bring them down to earth, as in this first example.

Rental Cabins In The Air

I started with a crazy thought: “What if people could rent a cabin up in the sky for the weekend?” Right away my mind tries to make sense of the idea, and because the over-all goal is to have profitable innovations, it looks for ways to make it into a money making idea. I first imagined cabins which are suspended under massive hot-air or helium balloons.

As much fun as it might be, this didn’t seem very practical. When I explored the intent further, though, I wondered if existing balloon-ride businesses could tap into other markets. If, for example, the gondolas were outfitted properly, and the balloons tethered, so they could be granted to float two thousand feet overhead, would meditators then pay for a peaceful meditation retreat in the sky?

Another thought came to mind. Balloons could be high in the air, but easily cranked back in on a line. This might be simpler and cheaper than traditional rides, which involve chase automobiles and unpredictable landings. Perhaps this could be another way to make money with the balloons, charging a lower rate for easy up and down rides, and so getting new customers that couldn’t afford the usual rides.

This is how a crazy intent comes back to earth. Perhaps even the “weekend cabin in the sky” intent could someday be a money making idea, but if not, that’s okay. The point here is to get the creative flow going, and then find more practical ways to channel the output.

More Crazy Money Making Ideas

The following are pure imagination. I leave it to you to find a way to make these ones into potential money making ideas. Good luck and have fun!

- Put seats on the wings of an airplane and sell rides to thrill seekers.

- Sell advertising scratched out on the grappling of the moon.

- Rent out the animals at the zoo.

- Begin an underwater school.

- Make a roller coaster course people pay to take their individualized automobiles on.

- Sell pets genetically engineered to die young, for those who hate long-term commitments.

- Rent out kids to undecided prospective parents.

- Have marriage insurance policies that cover the cost of a divorce, just in case.

- Have a swimming pool restaurant; diners sit in floating seats and take off floating plates.

Scan the list and stop on any of the crazy ideas that catch your attention. Chances are good that you can find some way to transform it into a more practical idea, and that is the point. This exercise in imagination might be fun, but it is also a profitable technique for generating money making ideas.