In Just 5 Minutes, Discover 5 Effective Ways to Boost Your Earnings

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Entrepreneur, author and podcaster Darius Foroux “How do I make more money?” He realizes that the question is frequently asked to him by people and claims that he will give 5 good suggestions on this subject in exchange for 5 minutes. We are listening from him…

Making money is not that difficult. You're probably getting paid every month right now. This shows that you already know how to do this job, right? This is one of the first things we need to learn about money.

You should view making money as something you already know how to do. Now, let's get to the topic of making more money on your own. That's the next step.

First of all, you may think this is impossible. But rule 1: you'll never achieve it if you keep thinking this way. You need to stop thinking that only privileged or lucky people can earn more. Not only is this a wrong way of thinking, it's also self-sabotaging.

Start with a Reason

What is your reason for earning more? People need realistic and compelling reasons to earn money, such as “being able to survive”. Because it is a difficult task for them and many of them give up quickly. But those who have a strong drive to make more money are most likely to be successful. So what's your impulse?

Pay off your debt? To provide a good life for your children, your parents, your family? Owning your own business? Having more resources?

A good strategy is to ask yourself questions that start with the letter W (who, where, when, what). Tim Ferriss says the following about this:

“Money multiplies in practical value depending on the number of Ws you control in your life: what you do, when you do it, where you do it, and with whom you do it.”

When you are conscious about making money, you will not have the problem that money addicts have. Some people can never be satisfied with the big money they earn. With this in mind, I've put together a list of 5 ways to start making more money. You can do these things full time, part time, or for just 1 hour a day.

1) Turn your knowledge into money

Turning knowledge into money is different from all other small businesses that make money. It is one of the fun, relatively easier and most valuable ways to make money. This job is above all jobs that require your advice, knowledge and skills. worldwide to this “monetizing knowledge” It is said.

“I'm not an expert,” “But I don't know anything.” I can almost hear you say. I don't believe this. It's about your way of thinking. Because almost everyone has talents and strengths. Second, if you think you're not that good, improve yourself.

It's that simple. Once you have certain knowledge, go and help others with that knowledge. Give advice (consulting), write a book, teach a group of people, coach, do things for others… You name it.

You can form an idea on this topic and work on it on your own or with others. To get started, take a look at the institutions and people you can get help from and consult.

2) Don't waste money on stupid things

It's no surprise that Warren Buffett's #1 money rule is “never lose money.” Keep this rule in mind when you lose money that you could easily keep.

Don't blindly follow money trends. Every year, there are new trends that everyone is talking about. Don't waste money on these. Don't waste money on throwing an elaborate birthday party for yourself or a loved one. Or you don't have to go on holiday in that expensive city this summer just because everyone else is going.

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In fact, at such moments the opportunity to save money presents itself. When you are about to buy something and think “This is too good to be true”, walk away from that purchase. Your future self will thank your past self for this.

3) Real estate does not just mean buying and selling houses.

If you want to get into this business, do your research well. It is quite possible to make money here. Most people say, “Real estate is for the rich.” Never believe this.

Buying and selling houses is not the only way to make money from real estate. Do you have extra money saved up? Rent a house in a great location in a city you know. Then try renting this house daily or weekly.

Remember: shelter is a basic human need. Therefore, instead of thinking too big, you can focus on small and effective opportunities in the real estate sector.

4) Create a product in 48 hours

Create a product. Something simple but worth money…

Many would-be entrepreneurs think that creating a product is a very complicated process. They want to innovate and create new products. Of course this is great! But why not start with something simple? For example, something you can get from a factory nearby?

If you want to create a product, give yourself this constraint: What product can I design and produce in 48 hours? This limitation will prevent your product from becoming complicated. So focus on things you can easily create and sell. When you do this, you can also improve your design, sales, marketing and procurement skills. You can also use this in your future work.

5) Buy and sell what you know

I started buying and selling mobile phones when I was 15 years old. This wasn't even my first job. Before that I sold used CDs, DVDs and video games. These are the things I knew at the time. I knew which phones were in demand. I knew what albums were good and what video games everyone played.

Buying and selling is the easiest way to make cash and help people get what they want. But most people think they can buy and sell anything. I don't believe this.

It's all about demand. You have to know what people want. For example, vintage watches have become popular in the last few years. I love watches but have no idea what is in demand and what is rare.

But if you do, you can make money buying and selling these watches. This also applies to other objects in the world. If you know all about Batman comics, Barbie, or Pokemon, you can buy and sell those things.

Final Thoughts

The times I produced the most money and value were when I focused on something. Know everything about what you're doing. If you think about it, you can only do this when you focus. It is impossible to know everything about everything.

So, do you want to earn more? Choose something you like and are good at. Then start. In this way, excuses such as “I don't have time” will disappear. You will save time. Just like you make money.

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