I’ve made a lot of money this past year from cryptocurrencies.
It has not taken any skill whatsoever to do this.
However, it has taken timing… and capital.
I had to have money available, money I could afford to lose, and I had to invest this money during a speculative growth period for a new asset class, which may or may not prove to be worth anything in the years to come.
The only reason I could do any of this is that I decided to become an entrepreneur two decades ago.
Create Your Capital
Running businesses created cash, money I could decide what to do with, including enough that I could invest a proportion in more speculative investments.
Creating companies using leveraged business models frees up time so I can have my eyes open to new opportunities.
Being an entrepreneur connects me with other entrepreneurs and experts, who expose me to opportunities in industries I would never otherwise consider.
If I had a job, chances are all my time would go to working for someone else, earning a capped salary, and all my money would be locked into paying back a 20-year mortgage on my house.
This means I would have no liquid capital available to invest, and certainly not any money I would feel comfortable losing.
It also means I’d probably find out about big growth investment opportunities after they were already over when the mainstream press reports on the people who already got rich.
Plus, I would not meet the kind of people who could open doors to emerging trends.
Instead, I’d meet other people who are stuck in jobs, with mortgages, who don’t have the cash to invest and can’t educate themselves beyond what they need to know to do their job.
In other words, they would be trapped, just like me.
Build Your Wealth On Your Own Terms
The real secret to wealth creation is to be in charge of your wealth creation.
You need to make money on your terms and you need your money to go to work and make more money for you.
If you operate within a framework that caps your earning capacity, locks your money into long-term debt repayment, narrows the scope of your education, and stops you from meeting successful people, you’re screwed.
The worst thing about all of this is most people CHOOSE the screwed option.
Then they wonder why twenty or forty years later they still have no money.
As the years go by, their salary barely goes up, their mortgage barely goes down and each time they hear stories of someone else getting rich because of some new investment or business, they wonder why it never happened to them.
The thing is, it never happens.
That implies there is some outside force that will at some point bestow upon you the financial win you have always dreamed of.
The truth is that wealth only comes as a reaction to your action. It doesn’t happen to you, it happens BECAUSE of you.
One of the smartest choices you can make in 2018 is to do something that creates wealth on your terms. The right time to do this is always now.
That way, when the next wave hits, you will be in a position to see it soon enough and be ready to ride it.
P.S. Building your wealth in the early stages requires more time than money, especially when it comes to building an online business.
There’s no getting around it. Money speeds things along, but time is essential.
However, you don’t want to trap yourself into constantly putting time into figuring out how to actually build your online business. Even if you do it all yourself, you still want to minimize your time investment.
If you’re interested in seriously creating wealth that you can use in other areas of your life, I’d like to invite you to sign up for my webinar below that teaches you how to build an online platform.
With the right tools and mindset, you can turn your online platform into a long-term asset.