Anyone here know how to make money?

You have a very healthy attitude.

It is not correct to believe that everyone is like you, or that everyone else is a specific way. When people say that "everyone" gets angry at other drivers in traffic, they are just plain wrong. When people say that "all men" or "all women" or "all architects" are a specific way, they are just plain wrong.

When we realize that others are different from us, only then can we actually start to learn from them, because their opinions will be filtered by their own experience, attitude, and current mental health.

I have spent a lot of time and money on music. I have not read all the books I have bought cover to cover. I do not do all the things that people have recommended for me to do. I can not remember all the advice my teachers have given me. I am not where I want to be or where I expected to be after this time and effort, but I have improved, and am better than those who did not spend the time or money or effort.

Stay on the path. Focus. There are guys on the PGA tour who where not the best player on their college team. But they stuck with it. I asked a good golfer once what all the guys on tour had in common, and he said "work ethic, they are all willing to work hard for long periods of time, on one specific thing, with no visible improvement, and no outside encouragement."
 
You should also check out a book called The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It

The overall idea is that most small businesses are started by technical (i.e. skilled in a trade) people and that's all fine and dandy until the person decides to take a break. Essentially, the technical person IS the company and without him or her, the company would fail.

So the idea is to evolve from a technician into a manager by creating a system of actions where you can train people to take over your job. The goal being that you don't have to be there all the time for your business to succeed.

It's an interesting read and though it seems to simplify things and sometimes it doesn't seem relevant to certain fields it does present some interesting ideas.
 
signmaker said:
Back to Kiyosaki - have you read "The Business School for People Who Like Helping People? (book) It is all about building a network marketing business. This is about the only way that people without a lot of money can earn a sizable "passive" income in as little as 2 to 5 years. It takes a LOT of hard work, and realizing that you don't know what you don't know. Find a mentor who can lead you through the minefield. Expect tons of critics.

It is happening every day. There are many people I know by name, a few personally, that don't need to use alarms anymore. They still work very hard, but they are living their priorities, not just their obligations.

Paul Zane Pilzer has written a new book about how there will be 10 million new millionaires in the next 10 years. How? Home based network marketing businesses combined with the wellness revolution going on. The market? mostly baby boomers. http://www.paulzanepilzer.com/

Stephen
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I was going to recommend Networking as well. If you get involved with the right company it is a great way to make a sizable residual income.

Having said that (and this is for all the negative responses that stephen and I will get) I have been involved in networking for a few years and here are the real live results I have witnessed

My up up up up line has been "financially free" for 28 years

My up up up line has been "financially free" for 22 years

My up up line has been "financially free" for about 6 years

My up line has retired his wife a month ago

My wife retired in 1999

A guy that a quitter found in my business retired his wife in 2001

... with the exception of the first one, these are people whose phone numbers are in my cell phone book, I know their kids, we exchange christmas gifts and we enjoy free time together. So I am not a person that just got involved wagging my tail and wetting myself
 
Bravo!!!

Bravo and indeed there no such thing as a free lunch!
Look at Bill Gates: He has created a lunch he can live off of for the rest of his life, but however, do you really think it was handed to him?

HE WORKED HS BUTTOX OFF
Bet your booty on that one

Everyony needs to work to attain their goals, I know I always did

TesTeq;38657 said:
It is nothing personal but I hate such attitude. It is a lazy man attitude.

Examples of successes are very rare and just because they are rare - they are successes. How many people can sell pixels on their website? How many people can sell 1000 paintings with numbers from 1 to 1000? How many people earn full time salary from Google ad programs? And these people were not thinking how to do nothing and earn money but they implemented a one-time brilliant marketing idea.

There is no free lunch. I believe that only active people who are working with passion can earn decent money.

But just in case I have two real life examples how to make easy money:
1. Buy a good quality copy printer and carefully distribute fake money.
2. Create Future Advanced Knowledge Enterprise Company (FAKE Company), persuade investors to invest in your Internet Multimedia Web 2.0 project and disappear with the money (or construct investment agreements that will allow you to take money without any risks).
Click to expand...
 
Making money: suggestions

This is a great topic, and the amount I'd like to say overflows the space that's available. So, here are some thoughts:

* Gjerdingen, from the IU Maurer school of law, wrote a very helpful article called "Rules of Investing--Everything You'll Wish You Knew at 25". He lays out a plan and gives specific investing advice--among the best I've found. Google can find it for you.

* Passive income can come from investments (above) or from others' work--i.e. employees. Gerber (E-Myth) talks about systematizing your business so others' work doesn't require your input. Ferriss (4HWW) talks about automating your system to replace you.

* Magic of Thinking Big is a great book that explains one point: there is a lot less competition for far-out goals than there is for medium goals. There are more applicants at entry-level positions than top management positions.

* 80/20 Principle by Koch is a great book as well, with a specific section on best investment bangs for your buck and how to be disproportionately wealthy in your field.

* To make a lot of money, hard work is (almost) always required, however, most hard work does not lead to making a lot of money. It all depends on what work is being done.

The funny part of answering your question is that lots of people have made lots of money by doing lots of things. One friend made a lot of money by being a landlord/handyman. He compounded his earnings by doing all maintenance/repairs himself and using real estate appreciation to then purchase more properties, which then increased in total value even faster.

Others have made money solely from investments. Others have made money from starting businesses, working for several years, and then selling them while fully-functioning--anything from painting street gutters to jewelry stores.

In many ways, the best way to make money is to learn how to earn a very lot of money for your time (80/20 principle addresses how, specifically), and then work less. It's not exactly passive income, but the net effect is similar. For example, can you figure out a way to make $50 in an hour of time? How about $500? How about $5000?

Specific businesses that can be set up to require very little input from the owner are: pay-and-spray car washes; storage units; selling or reselling information/products online.

Or, you could help someone who wants to work for himself and is willing to let you have a cut in exchange for helping him grow faster. Good examples are lawncare and housepainting, because the value is in the labor not in equipment. If you help someone go from running his own small show to having several lawn/paint/whatever crews around, he could double his income without lengthening his workweek. He could be his own boss and you could be simply an investor.

Of course, the best way to have more money is to spend less of what you have. However, this doesn't "make money" per se... though it could if those resources were redirected to areas of higher return. In general, if you just look for where your resources can get more return--much more thoroughly than most of us do--then that is about all you need to make more money.

JohnV474
 
I just don't think there are formulas. I know hard working poor and lazy rich. I know people who hate what they do and make great money and I know people who love what they do and don't.

I actually think it is more about satisfying the "market" and not yourself. You can satisfy the market through innovation, great value or great service. There are probably many people getting rich making Ipods and IPads as an example and some love it and some hate it. They are getting rich because the market likes the products, not because of their passion or lack thereof. To the extent you "love" what you do to satisfy the market great.

In order to make a huge passive income you have to still create something that can "live on" for a long time be it capital that can earn interest or dividends or songs or books that will sell forever. The creation of the source of the passive income I think again takes into account the satisfaction of the market.

Good luck
 
This question is definitely something to be pondered upon if you're thinking of earning easy money. There's no such thing unless you're doing something illegal. :D
Seriously, you make money if you work hard enough to earn them. Sometimes if we're lucky enough, we get to win some if we try our luck on lotteries and such. But basically the idea is simple, we work hard for the money (as the song goes :D)...
 
Wow, my thread is now resurrected four years later. The Internet never forgets.

JohnV, thanks for the great response. I found the "Rules of Investing" paper and will read it now.

SGTM, I agree with you about satisfying a need in the market. I am sure there have been thousands of "great" inventions over the last hundred years that just "never found a market". In fact, I started a web business many years ago with the hope of selling to a certain industry only to find out later that industry was apathetic to my idea. Lesson learned.

By the way SGTM, I clicked over to your blog. I'll check it out today.

Thanks everyone.
 
I have to agree that "passive income" is kind of the wrong track. In the beginning there's always hard work and determination. Once you've passed the tests and challenges and still are going strong, then - and only then - can you talk of passive income. You deserve to lean back now. However dont let things rest on end...do check your autopilot every once in a while. Because you never know when the game changes. Typical scenarios of passive income after initial hard work would be writing a couple of bestsellers, a couple of hit songs, or building a website marketing empire.
 
I'm just curious here.

WHY do you want to earn passive income?

In other words, if you're wildly successful, and you suddenly have a bank account flush with cash, what will you do with yourself?

I imagine most people will take a vacation, or spend some time with their family, or fix up their house, or just relax. But after a month or two, when you're done with all that...what would you do?

Would you write? Volunteer to change the world? Exercise? Create art? Practice yoga or martial arts? Write computer programs? Cook gourmet meals?

The reason I ask is because passive income normally requires the "money makes money" method, and the problem with that is that you need money in the first place, and if you already had money you wouldn't have asked this question on a forum.

Therefore, you need money. And apparently you're unfulfilled with what you're doing now, and you probably want a passive income so that you can quit whatever it is you do that is unpleasant, and start doing something else.

So why not find a way to take your passion and get paid for it? If you manage to do this, live frugally and spend less than you earn, you will be on your way to saving enough for a passive income, AND you will be doing the thing you love. What's more, you'll probably build yourself a successful career, because the best workers are the ones who are passionate about it, and the respect and pride that comes with a great career is a good feeling.

They say "do what you love, and you'll never work a day in your life." I did precisely this, and it's not ALL roses and gummy bears, but I don't dread going to work in the morning, and I come home singing. Life's too short to do something you hate.

Maybe your goal isn't really "earn a passive income"; maybe it's "start earning money doing something I love".

Not sure if this applies to you, but if it does, I urge you to take it to heart.
 
remyc88;38662 said:
The easiest way to earn more money is to spend less! Remember that for every dollar saved, that's almost like 1.3 dollars earned (or more depending on your tax rate) :)
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I agree! To add to this, pay all your credits first. How can you earn when you have a lot of credits to pay for? Credits are bad, savings are good. ;)
 
fivefingers, you've been reported. Your spam isn't even relevant to the contents of this forum.

As for how to make money in an ongoing fashion, it depends on several factors, from interests, to income goals, to lifestyle goals. If the goal is to not have to work, typically you're going to have to learn the hard way that it won't happen without a ton of work up front. If the goal is to do something more productive than "working for the man", it's not all that difficult to develop an income you can live off of while doing what you're passionate about and what you care about.

I'm open to discussing this further via email if you'd like. In any case, I wish you the best in whatever you pursue - just make sure you're making the world better by creating or contributing something, and not being a leach off of those who are.

Cheers,
 
The best ways and the only BEST ways to make money is putting efforts into your business or career. Money from lottery won't last wrong, most of the time.
 
Find a topic you enjoy discussing and then create a blog around it. With a little time and effort you can build a regular following and monetize your site with adsense and useful affiliate programs.
 
Re: There is no free lunch

TesTeq;38657 said:
It is nothing personal but I hate such attitude. It is a lazy man attitude.

Examples of successes are very rare and just because they are rare - they are successes. How many people can sell pixels on their website? How many people can sell 1000 paintings with numbers from 1 to 1000? How many people earn full time salary from Google ad programs? And these people were not thinking how to do nothing and earn money but they implemented a one-time brilliant marketing idea.

There is no free lunch. I believe that only active people who are working with passion can earn decent money.

But just in case I have two real life examples how to make easy money:
1. Buy a good quality copy printer and carefully distribute fake money.
2. Create Future Advanced Knowledge Enterprise Company (FAKE Company), persuade investors to invest in your Internet Multimedia Web 2.0 project and disappear with the money (or construct investment agreements that will allow you to take money without any risks).
Click to expand...

You don't need to be so mean. I myself make a little off the net but not very much. I have tried so many programs. It can drive you nuts! I know that I will find a good program that fits my mentality. Don't be so mean on people who are still looking!
 
I do not believe in passive income schemes.

kthlrsn;79944 said:
I have tried so many programs. It can drive you nuts! I know that I will find a good program that fits my mentality. Don't be so mean on people who are still looking!
Click to expand...

I do not believe in passive income schemes. I think it's a waste of time to look for such opportunities. I think people should look for their success elsewhere.
 
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