How can I become rich?

We’re 7.6 Billion people in the world.

Growth won’t stop anytime soon.

The population is projected to grow +1 billion in the next 10 years!

Millions wake up daily and hustle to become rich.

Millions are trying to do unethical things to become rich.

Millions are trying to get elected to a government position to become rich.

Millions are in college today to find that “secret recipe” for becoming rich.

How can I become rich (stand out) in this world among billions of people?

Let me explain with a soccer analogy:

This is a perfectly LEVELED playing field.

Which team will win?

Obviously the team with the best players.

Those with the best abilities.

Those gifted to be faster and stronger, plus who work hard to master the game.

Agreed?

The advantage is obvious; a team of professional players will always win over a small high school team.

This is exactly what millions are still learning in college today: how to become “professional” soccer players.

Now picture this playing field:

Now which team will win?

It’s NOT a fair game anymore, correct?

In business it’s called DISRUPTION!

The team that scores to the left goal has to go uphill to score.

The team that scores to the right goal will score with a fraction of the effort.

What does this mean?

The world HAS changed.

The economy HAS changed.

It’s virtually IMPOSSIBLE to achieve financial wealth if you still play as a normal “soccer player”.

To understand the new rules of the game you need to learn the new rules of the Digital Age and develop a new mindset.

Let me further explain:

Wealth is NOT created by hard work anymore.

IT’S ALL ABOUT LEVERAGE! You:

Leverage other people’s time.

Leverage other people’s money.

Leverage other people’s talents.

Leverage the power of scalable tools.

Welcome to the Digital Age! New economy! New game!

Ways of creating wealth have changed:

In the Agrarian Age, wealth originated from using nature.

In the Industrial Age, wealth originated from using machines.

In the Information Age, wealth originates from using information and knowledge.

To become rich you must master the new rules, the new opportunities and play the new game!

Various Income Streams

WARNING: Not all income leads to financial freedom.

Understanding the different types of income, their sources, and how they are taxed is key to building wealth and achieving financial independence.

Here’s a list of them:

To answer your question, how can you create multiple incomes?

The only way to create multiple income streams is by deeply understanding how money is made.

Here is an example of each type of income, all following the same business (a food truck).

Employment: A cook who works for a food truck business and receives an hourly wage from the food truck owner.

Freelancing: A freelance chef who offers occasional party catering services with his own or rental food truck.

Solopreneur: A solopreneur who starts their own food truck business and operates it as a one-person operation, handling all aspects of the business from cooking to marketing to finance.

Entrepreneurship: An entrepreneur who starts their own food truck business, hires other chefs and staff and operates multiple trucks.

Investment: An investor who buys shares in a publicly-traded food truck company and earns returns on their investment.

Rental Income: A landlord who rents out food trucks with a parking space and collects rent payments.

Royalties: An author who writes and publishes food truck cookbooks and earns royalties from book sales.

Passive Income: An investor who provides capital for a food truck business and earns a share of the profits.

To create multiple income streams, deeply analyze each of these eight options and focus on the two or three that you have the best skills and resources to accomplish TODAY.

Which will you focus on?

Share below!

#BeBusinessSmart

-Hector Quintanilla

Hear me out all females

“I worked really hard and yet I failed”

This is one of the most common line I have ever heard from people.

Most people assume that one cannot achieve success despite putting in the hard work and success really depends on luck.

However the real problem is that most people cannot distinguish between manual labor and actual hard work.

Most people are stuck doing manual labor which fetches them no result.

Success on the other hand highly depends on what I call “High Impact Activities”.

A majority of people ignore these “High Impact Activities” because they are “Hard”.

Now don’t get me wrong, here hard activities does not mean they take effort, its just that they are least pleasant to do.

Hence people try avoiding these activities and focus all their energy and effort on low impact activities.

Lets take an example for both HIA and LIA:

In business context:

HIA: Cold calling customers, selling them products on the phone or reaching out to new customers, following up new leads.

LIA: Designing logo for your website, spending time to learn so called “productivity tips” from YouTube after wasting hours on designing the logo which you could have outsourced on fiver for $5.

In a student context:

HIA: Focusing on the most important yet hard topics and understanding them thoroughly.

LIA: Spending more time on easier topics, topics which you already know well.

In a newbie programmers context:

HIA: Working on a personal project which involves building something.

LIA: Reading and searching for answers on sites, deciding which code editor to use, debating on which programming language is better.

I hope this gives a clear idea of how High Impact Activities are different from Low Impact Activities.

If you compare them both, you will find that both of them take the same amount of effort to do.

However if you take a look at HIA, they are not very comfortable or pleasing to do.

Designing a logo for your business seems like a nice idea while cold calling a client sounds rough and hence people tend to deviate towards things that are of less importance just because they find pleasure doing them.

High performers on the other end know what activities would create the most impact for them and hence they are willing to do them irrespective of how un-pleasurable they are to do.

Doing hard work does not mean working like a donkey on some simple things.

Here is what hard work looks like:

1. Deciding and doing something which you know is not pleasurable but can give you the maximum results.
2. Taking risks in all walks of your life, switching careers if the current one does not pay you well.
3. Taking hard decisions, making a complete shift in the way you operate and think.
4. Taking responsibility, hiring people, or learning some new skill which can change the course of your career.
5. Being able to manage and make the most efficient use of your time.
6. Being consistent for years doing anything, be it at a business, learning new skills, or working out.
7. Doing something which you have never done before, or doing something where you are uncertain about the outcome.

These are the actual activities which can be termed as hard work.

The day you understand the difference between manual labor and real hard work is the day when your life would change completely.

-Saurav Sharma

Firstly, stop creating false beliefs in your mind

Freelancing

Before you even know how to start working as a freelancer, you need to get rid of the most common myths across freelancing.

The term freelancer is widely misunderstood

Lets bust a few myths first!

Myth #1: Freelancing is all about software development.

Freelancing does not have to just be about programming, there are a lot of other domains as well.

Here are a few freelancing roles:

1. Content writer.
2. Digital marketer.
3. Logo designer.
4. Graphic designer.
5. Web developer.
6. Software developer.
7. Ghost writer.
8. Business consultant.
9. Copyrighter.
10. Social media manager.

and a lot more roles come under freelancing.

Freelancer just means you are an independent contractor, who works independently on projects. You may be a content writer at a company and be a full time employee there or you can be a freelancer content writer who may work for the same company but on a project basis rather than being fully employed over there.

Myth #2: A freelancer just has to work online.

While it is true that it is much easier to find freelance jobs online, that is not the only way to find work as a freelancer.

You may also network with potential businesses and find clients offline as well.

Although finding a gig offline might sound a bit difficult but for a beginner it is much easier to find work offline as there is a lot less competition.

You may reach out to businesses, local shops and see if you can help them with their expertise.

If you are a graphic designer you can help them design brochures.

If you are a logo designer you can help design a great logo for their business.

If you are a digital marketer you can help them establish an online presence.

If you are a web developer you can help them setup an e-commerce site.

Whatever it be, just think in terms of how your skillset can help the other party.

Myth #3: Freelancing pays loads of money.

Just as with any job as some people get paid less while some get paid more, freelancing is no different.

If you are average at what you do you will be paid average, if you are highly skilled at what you do you will be paid highly.

While it is true that online jobs pay you in dollars which translates to a larger amount in developing countries, however if you work for clients from developed countries you also need to deliver a product of equal quality.

If you are under the false impression that freelancing pays a ton for a lot less amount of work then please get out of that bubble.

Myth #4: You need tons of experience to be a freelancer.

Everyone starts from scratch and you are no different.

Freelancers who are experts now are the ones who were in exactly the same place as you are now. They just eventually built their expertise by working on more projects and learning along the way, continually upgrading their skills.

It is true that you wont get expert level projects as a beginner and even if you get one you should simply not take it. Start with simpler projects at first which you think you can handle and gradually move ahead.

Yes you do need to have experience to work on decent projects but how else are you going to get experience if you don’t get started at some point?

While starting off as a beginner all your focus should be on learning, work on projects but work for the knowledge and experience you get. Money is simply the byproduct. This same knowledge and experience in coming years will make you 10X of what you are making right now.

Myth #5: Freelancing marketplaces are full of competition.

When people start off as a freelancer and bid on a project, they see that about 20 more people have already placed a bid on the same project.

Assume 20 people bid on a project, all of the 20 are not your competition.

Your only competition are the people who are better than you and not the ones who are worse than you.

For example, if out of these 20 people, you are ranked 5th as per your skillset then you barely need to worry about the 15 people below you.

The only people you should be worry about are the ones who are better than you.

The quickest and the most direct way to not worry about competition is to outrank them, if you move up the skill ladder you hardly have to bother about the competition. Unless of course someone offers a cheaper price.

Now coming to the main question, how should you start off as a freelancer?

1. See what value you can provide to different people depending on your skillset.
2. Think freelancing as being an independent contractor, try to devote equal amount of time to working on projects and finding clients as well.
3. Finding clients is another skill you would need to learn apart from your core skillset, because no clients would mean no work.
4. Be creative, don’t just get stuck in finding jobs online. Try some creative techniques to land local clients as well.
5. Getting your first client is always the hardest, getting the second client is a bit easier and so on. Hence make sure to not give up too soon. I know people who didn’t get their first client for months and yet they now are doing great.
6. If you chose the path of being a freelancer you need to be a learner for life, because freelance marketplaces are highly competitive and not being up-to-date on skills will throw you out of the market.
7. Look at learning as the process of sharpening a saw, and freelancing as chopping down trees. The better you sharpen your saw on a regular basis the easier it would be for you to chop down trees.
8. Don’t do it for the sake of money. The most successful freelancers I know are the ones who love to do what they do, be them graphic designers or programmers. If you are in it for the money, you will be soon outworked and outperformed by people who are passionate for their work.
9. Don’t get stuck reading blog posts and articles about how to become a freelancer. Instead take action right away. Gathering information and reading blogpost is an endless loop and its easy to get sucked into it. The only people who should read such blogpost are the ones who have no idea about what freelancing is. But if you are someone who has been collecting information since months, you probably need to stop reading and get to the actual work instead.

A few tips on how to find and get work offline:

1. Ask for referrals from friends and families, ask if they know business owners or an individuals who would need your services.
2. Contact and keep in touch with local shops and businesses you personally know. Don’t pitch your services but instead show them how you can help them in their business.
3. Network with more people in your circle and make new connections, you never know who can be your next potential client.
4. Keep an intent of genuinely helping business, don’t simply pitch your services to make money off them, pitch only if you know that your service would be of value to the customer. If it doesn’t help the client, simply don’t sell them.
5. Offer money back guarantee. If you fail to deliver results simply return back their money. If you are so confident about your services you should also be willing to return back clients money if you don’t deliver. This not only makes your proposal solid but will also make your client’s experience stress free.

-Saurav Sharma

Karma's Role In Unemployment

If a cab driver makes more money than an IT professional, why should I study?

 You should continue to study so that you would understand what false equivalence is and how to avoid falling into it.

---

So these are the gems that your finding-A cab driver makes more money than an IT professional-ignores:

1. An entry level cab driver might make more money than the IT professional, but a senior-level IT professional would have more relaxed life, more vacations, more rooms in the house, more money in stocks, gold and bank than a senior-level cab driver.
2. All cab drivers, regardless of age or experience, generally earn a fixed rate per trip. In contrast, a high-level IT professional can earn 10 to 100 times more than someone just starting out in the industry.
3. If you're unhappy in IT, you can always switch to driving a cab. But if you start as a cab driver and later realize your assumptions were wrong, transitioning into IT becomes significantly harder.
4. Your knowledge compounds in IT. Based on your projects and work experience, you grow up the ladder. And this compounded knowledge results in more money. As cab driver, well, your knowledge is stagnant and your income depends on inflation and not on your skill.
5. Your IT job has paid holidays, medical leave and health insurance. As cab driver, if you don’t work, no pay.

So

The thing is

Choose right data and derive right conclusions to take right decisions.

-Srinath Nalluri

Average Student ?

I can't make profit on my shop......

Persistence

 

It was bad — really bad.

I was failing in school and I wanted to give up.

I don’t know if my father asked for my grandfather’s help, but one day while visiting my grandpa’s ranch he invited me for a horse ride.

He grabbed his horse and pulled me up to ride behind him.

“You’ve got to see this,” he said.

“What, Grandpa?” I asked while I held on as tight as I could behind him while the horse galloped.

A couple of minutes later we got there. He helped me get off the horse.

“Come see this drop of water that’s hitting this big stone.” he said pointing to the natural water source.

“What about it, Grandpa?” I asked.

“Look how tiny and delicate each drop is,” he indicated as drops accumulated in his hand. There’s a big lesson in each of these drops!”

I stared at him.

He continued, “These drops of water remind me of everything that I accomplished during my life. Everything that I ever achieved was because of focus and persistence. See that rock below, receiving each drop?”

“Yes?” I answered.

“It’s remarkable that such a tiny and delicate drop of water can beat down that tough stone. Over time, these tiny drops of water have worn and sculpted this tough rock.”

I nodded.

“Your dad told me you want to give up your efforts at school. Remember this, MOST days you will feel like this drop of water that has not much significant force.”

I held my hand out to touch the dripping water.

He continued, “Dripping water sculpts stones — NOT by force, but through focused, constant, relentless persistence. Whenever you feel like giving up, remember these water droplets, Hector!”

To answer your question, do you think persistence is important? Why or why not?

Persistence is everything in accomplishing anything in life. There are NO shortcuts. Whatever you want to accomplish in life, it demands targeted, focused, persistent daily actions!

 

 

- Hector Quintanilla

#BeBusinessSmart

Wana change your family ?