The First Step: Creating Wealth

I think the majority of parents have said “Money doesn’t grow on trees.” The children may not understand the meaning of this statement, however. The parents are trying to convey that the money that is needed for the things we need and want must be gotten by some means. Wealth has a lot to do with creating something in exchange for money, and that something is typically the result of work. So let’s talk about creating wealth.

The most effective means to create wealth is to do some kind of work that (1) You’re good at (2) You enjoy (these often go hand-in-hand but not always) and (3) someone will exchange their hard-earned money for. In this economy when everyone is pinching pennies, creating something that is deemed valuable by enough people is increasingly difficult.

If you are unemployed currently, there are several means by which you can try to find a job (tell friends, family and former colleagues and bosses, network, use social media, check the newspaper, walk your neighborhood) or start your own business using your unique skills and abilities (note: this will not bring you wealth anywhere close to immediately but the wealthiest people are business owners or the heirs of business owners).

If you are currently employed, what can you do to increase your value in exchange for an increase in compensation? Consider having a conversation with your manager about this very topic (and then s/he can do the same with her/his manager!). Consider attending classes and/or conferences to increase your skills. Ask for a change in benefits (health insurance, education benefits, life/disability insurance, flex time, child care); these aren’t compensation per se but allow you to use your earnings elsewhere.

If you own your own business, what can you do to improve your profitability? Are you networking and using social media (both very cost-effective options) to increase your visibility? Are you offering your product/service to the right people? (Have you identified “the right people”?) Do you have a coach and/or support system to give you perspective, ideas, suggestions? Can you delegate certain tasks to allow you more time to do the things that provide the most profit? Do you say “No” to some things so that you have the time you need to run your business?

If you are retired, what are you doing to remain productive? You still have something to offer the world, why keep it a secret? Consider volunteering – it may result in an actual job offer down the road.

Lastly, have you considered getting rid of things in your life so you can clear the space for true prosperity? By this I mean physical items that can be donated, given away or sold as well as old ideas and beliefs that may be holding you back.

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About Amy Jo Lauber

I help people who are overwhelmed take control & make good financial decisions with confidence and experience peace and abundance. Are you ready to say goodbye to working hard but not having anything to show for it? Go to www.lauberfinancialplanning.com "Let's Talk" tab to schedule your complimentary initial consultation and take the first step on the path to financial empowerment.
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