Our parents taught us to get a great job so we could make money and create wealth, but great jobs don’t create wealth. Great jobs provide enough money to live comfortably, but they don’t allow us to do whatever we want, whenever we want.
In a way, a job is a form of creating a residual revenue stream for our employers. They know if they provide a weekly payment far less than real value for work done, you’ll keep coming back for more money because you depend on that reoccurring revenue stream.
The lesson you need to take away is that instead of having a revenue stream from your employer, you are better off making money from your customer. Let them pay you a reoccurring or residual revenue stream for a product or service that doesn’t require reoccurring work.
Workers need to be smarter about how they make money. Pushing for raises, demanding more money from employers is not the way to get ahead. They are only creating more dependency on the people that they are trying to be less dependent on!
If they focused more on creating wealth, then trying to take wealth, they would quickly find that it takes less effort to make the kind of money they think they deserve.
Would you sell a product for $100 so you can get the maximum cash now, or would you opt to “lease” a product for $20 per month? After 5 months, you are going to make way more money than you would have ever made selling your product at $100.
If you don’t think you could sell your product monthly, you only need look at products such as Water Softeners. You are essentially providing a product at high finance and justifying it from the maintenance side. How often do you have Water softener repairs?
Entrepreneurs who look for ways to make money often miss another benefit to the reoccurring revenue stream. We have an ongoing relationship every month that gives us the opportunity to upsell or cross-sell our customers.
It’s far easier to make money from existing customers than it is to secure new customers to sell to.
Learning this strategy may take a little getting used to, but is guaranteed to produce far better results over time. You only need look at fitness memberships. They often oversell membership up to ten times their capacity.
I should know. I just bought a membership and I’ve been there twice this week!