The Legit 4 Proven ways People Make Money in 2020
If there’s one thing people want more of, it’s money. However, wanting it and making it are two very different things. Some people can make money effortlessly, but for the majority of people securing even a single source of income is a challenge, and this inability to earn is causing financial hardship all across the world.
Right now, 78% of Americans struggled to cover their bills every single month and while some of this hardship is due to irresponsible spending, a lot of it can be attributed to these people simply not making enough money to cover their basic expenses.
Just like learning how to drive or being able to tell time. Everyone should learn how to increase your income as it is truly an acquirable skill.
And in this article, I will share with you four ways you can make more money.
Let me share with you the story of my friend Robert and how he was able to dramatically change his financial life by understanding the four proven ways to make more money
Robert is a 29 year old computer programmer living in Los Angeles. Robert is a pretty typical guy who loves spending time with his family and friends and, like many Americans, feels a strong need to start making more money so that he can reduce his financial stress and have more opportunities in life.
In fact, living in one of the most expensive cities in the United States, Robert does earn a reasonable salary, but he still finds himself struggling to save money every month.
He’s moved into cheaper housing, uses public transit rather than buying a car, but at this point, he’s cut all the costs he can and has come to the point where he will need to start earning more money if he wants to improve his financial situation.
One night, Robert was watching YouTube when he came across the video on making more money. The video was a falling speech by business consultant Douglas Kruger called “how to escape poverty is your thinking keeping you poor?“
Typically, Robert doesn’t watch suggested videos, but the title caught his attention, so we decided to give the video a chance. As the video started, the speaker began to talk about their epiphanies of growing your wealth and escaping poverty.
He explained that as an employee, you’re just a cog in the system. Working very hard for next to nothing. We’ll all the revenues you and rise up to the top members of the organization. And sadly, for these people who make up the majority in our society.
They have no one to turn to in order to acquire the guidance that can help them get out of this financial dead end because it’s the same money-making model that all other poor people are subjecting themselves to.
Like most people, Robert was told to take the safe path by getting a college education, securing a job and then working for decades until retirement.
Well, this lifestyle may have been fruitful in the industrial age, but humans have now transcended into the age of information, and this traditional path is no longer the optimal way of making a living.
In fact, is Robert was watching the video he learned
But there are four proven ways to make money of which the final one was going to, um, to unlock his earning potential and never struggle financially ever again.
So let’s now goes through the four ways to make money that my friend Robert learned and how each one of them related to his life as a computer programmer.
As Robert continues to watch the video, he was introduced to the “Wheelbarrow way.”
Number 1: Make Money by working more hours
The first step in this money-making methodology was to go into the world and earn coins. Here’s how you do it. You pick up your wheelbarrow, won’t it full of dirt, and for every hour that you pushed her wheelbarrow you will get one coin.
If you want a second coin, you have to push your wheelbarrow for a second hour. Do this for eight hours a day every day, and all of a sudden you are now working in the typical 9 to 5 job.
In fact, this is the exact model Robert currently finds himself in. Every morning, he commutes to work, writes content for eight hours, and then calls it quits and goes home.
However, Robert has been working in this model for a while, and not long after he started, he came to realize that pushing his wheelbarrow for eight hours a day in exchange for coins didn’t mean he would be able to live the lifestyle he desired.
When Robert realized that his income from his 9 to 5 job wasn’t going to be sufficient to cover his needs, he began looking for other ways to make money, and one method he decided to adopt was freelancing.
As a programmer, there were numerous clients that would want to pay for his expertise. So instead of pushing one wheelbarrow daily, he began pushing two wheelbarrows. One wheel Barrow in the daytime and one wheel Barrow in the evening.
Sure, this method makes more coins or for Robert money, but it detracts from the other important aspects of your life, like having fun with friends or spending time with family.
As you can see, neither of these two methods of pushing a wheelbarrow will afford you to have the lifestyle you want.
Luckily, there are better ways to push your wheelbarrow then what Robert was initially doing, but if there’s one important message to take from Robert’s current state, it’s that you should never touch earnings to how many hours you can push your wheelbarrow.
So if this isn’t a viable way of earning more coins, what other options do you have?
Number 2: High-income Skill
The second way you can use your wheelbarrow to make more money. It’s by collecting more valuable resources. As Robert is watching the video Speaker Douglas Kruger said that if you can collect diamonds instead of dirt, then you can immediately start making more money per hour.
The concept of collecting a more valuable resource would be like improving your skills or adopting a high-income skill like sales or copyrighting.
For Robert, this could mean learning a coding language that is in high demand, or one that very few people have mastered, which can use to increases hourly rate at his job or through his freelance work.
Now, this method of making money does require you to trade time for money. But at least the time you trade will be for a significant return.
In fact, I think everyone needs to have a high-income skill. But I will talk more about that later.
Number 3: Hire Help
The third way to make more money is to hire someone else to push a second wheelbarrow, and then you take a little bit of their profits.
In Robert’s case, this could mean hiring another computer programmer to work on freelance projects that he’s acquired from clients and then pocketing the difference between his income and however much he pays his employees.
This is basically the model that most businesses used to make money.
Well, this can earn you more also is more risk involved. You see for Robert, he would have to pay his employees regardless of whether he was able to acquire new work. But then if he was successful in doing so he could also offload his work and collect more profits.
Number 4: Scalable Product/Service
Now the fourth way to make money is to swap all your wheelbarrow for better money-making tools. Whether you’re pushing a wheelbarrow or someone else’s. You are still not collecting resources in the most efficient way possible and this way of thinking isn’t exactly intuitive.
It’s like the example of Henry Ford and the Model T car. He’s famously quoted as having said that “if I had asked people what they wanted, they would have said faster horses”, and in this case of making money, most people will tell you different ways to push your wheelbarrow. But ultimately you need to ditch the wheelbarrow for something better.
In today’s world, this could be like a product or a scaleable service. For instance, Robert could create prepackaged coding software that his clients could purchase and used to satisfy their needs.
This fourth method of making money comes down to creating something once and then serving it to thousands or even millions of people.
Instead of having to interact with each individual client.
A prime example of this concept in action is Apple and the iPhone. The world needed better tell communication capabilities and instead of Steve jobs, just working his 9 to 5 hours and collecting a paycheck, he figured out how to provide value to a massive audience.
Which is made Apple one of the most successful companies of all time.
So let’s recap quickly the four ways to make more money:
- Make Money by working more hours.
Most people have to do this in the beginning just to get started. It allows them to not only collect a few coins but come to appreciate that this method of collecting coins will never make them rich.
- Acquire a High-Income Skill
This means acquiring higher-income skills that will allow you to trade your time for more money. This is essentially maximizing the return. You realize when still operating within the time for money model.
- Hire Help
Method number three involves hiring someone else to push a second wheelbarrow. This money-making method requires you to assume more risk than simply pushing Your only a WheelBarrow.
However, it can also allow you to make money without spending your own personal time, which in many cases is worth taking on the extra risk and cost.
- Scalable Product or Service
The final method is to swap your wheelbarrow for a more effective tool, which I have already explained, is a product or scaleable service that you can extend to the masses.
In short, this tool will require you to exchange value at scale, leveraging the concept of working smarter rather than harder.
From my personal experience, using all for the money-making methods previously outlined. I can tell you that the quicker you can move away from selling your time for low returns, the better.
In the context of the story, you want to move away from collecting dirt to collecting diamonds in the shortest time possible.
I hope this information helps our readers. Be sure to check out the related posts section below and all of the different money-making tools available on our website.