In this day and age, there seems to be a thousand ways to make money. You can work at a job, be a freelancer and offer your services, start a business or side hustle, flip goods and so forth. Truly, we live in an age of abundance. Where value can be created and transformed into capital through a myriad of ways.
But, what does it really take to make money? Do you really need money to make money? The general accepted response is in the affirmative. However, that's not really the case. I believe most people don't understand the basics of money making. I think we've been carried away by silicon valley startups and crowdfunding platforms we utilize to raise capital when kickstarting a business.
Busting The Myth
It doesn't take money to make money. It's not like I'm disregarding the raising capital route. Facebook, Google and all the rest like them wouldn't be here today if they didn't raise capital. But, that's neither the norm nor the standard here. If it was, there wouldn't be many rich people or 88% of the millionaires being self made. Just a decade or so ago, money was quite scarce. So there wasn't enough money to leverage into making more money. The average rich person started with no money.Think about it, not in all cases does having money make you more money. There are startups and businesses who had enough capital yet shut down or close up shop. Or take investing, 80% of investors lose money. The main purpose of investing is to make more money. Either in the form of cash flow or by appreciation of the asset(preferably both). Yet, there are money losses. I know this might sound absurd or seem illogical but no matter how hard making money is, keeping money is way harder.
On the flip side, let's say you're given $1 million and asked to make more money i.e double or triple it. How would you do it? What would you do?
What It Takes To Make Money
The question above kind of gives a hint as to what it actually takes to make money. If the person is a true hustler or entrepreneur, then it wouldn't be that difficult. But if the person is inexperienced and doesn't know what money making is about that $1 million will probably go down the drain!
It doesn't take money to make money, It takes knowledge, time and effort to make money. Without money making know how, chances are you wouldn't make more money from the money you have. Where as with money making know how, you will make money whether you have some of it or not.
This is what it takes to make money, being knowledgeable through putting in the time and effort. That's really the basics or fundamentals of money making. Through the knowledge you have, you trade your time and effort for money. From the street hustler all the way to the top executive, that's what they do.
Here on Hive, we're content creators. Through our creativity, we create content that gets rewarded in crypto. It didn't take money to make money. It takes creativity.
In Conclusion
On Social Media, If you searched 'millionaire starts from scratch' you'll probably see a bunch of results. For me, It's very interesting to watch and I'm always curious as to how this 'so called millionaire' is going to hustle his/her way back up. I must say, most of them do deliver on what the title promises. But more importantly, it illustrates the core concept of this post.If you take all the money away from them and they had to start from scratch with only the knowledge they've got. Like a phoenix rising from the ashes, they will be able to make it back and more in half the time it took for them to make it initially. Why? Because now they have the knowledge and the experience. They know what it takes to make money.
Saying that it takes money to make money is a half truth. Albeit a weak one.
Thanks for reading!
Profile: Young Kedar
Recent Posts;
● Practical Financial Habits To Incorporate Into Your Life
● Why Is It Important To Track Your Financial Progress
Posted Using LeoFinance Beta
