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How To Earn More Money – Breaking It All Down

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Earning more money is easy Speak for yourself

What's up everybody, I am Jaspreet Singh and welcome to the Minority Mindset Earning more money is easy when you know the different ways you can earn more money You learn the system, you put in the hard work, you make your mistakes, and then you know what to do with your money once you got it That doesn't sound very easy, Jaspreet I just put out a video on how to make more money, and if you have not seen it yet, here is a quick 10-second recap

One: There's a difference between active money where you have to physically work, and passive money where you just put your money to work Two: Money rewards value more than hard work, so put your hard work into creating more value And three: When you're working to create your unique value, figure out that one thing that you want to do first and stay focused on that one thing Today, I'm going to be talking about the different ways you can earn more money and have freedom, so make sure you watch this video until the end But before I get into it, make sure you hit that thumbs up button below because [clap] it's like a virtual high five, and subscribe to the Minority Mindset YouTube channel, that way, you don't miss our new videos every Monday, Wednesday, and Friday

All the different ways you can make more money fall onto this Chart right here, where on this axis you have freedom, and the higher up you go the more freedom you get, and on this axis you have cost, the further right you go the more this costs you to start This is what I'm going to be filling out today because you need to understand this chart, this way, you can set your life goals accordingly, because you don't want to put all your effort into something that's going to give you no freedom That's what life is about, you want to make sure you have the freedom to do what you want to do, so let's start by talking about your job Your job comes with some of the lowest freedom, and it can either be here or here on cost, depending on what you do So let me start by putting this in J-O-B, J-O-B

So, if you want to be a doctor, or a lawyer, or some sort of professional, it's going to cost you a lot of money to start I mean, it can cost you hundreds of thousands of dollars to become a lawyer, or a doctor, or if you get a job with a lower entry level, it doesn't take a lot of money to start, but your freedom is very low because if you don't work, 62 you don't get paid Then, after that, you have your physical services which are your low cost, low freedom businesses that you can create So, I'm going to put that right there, I'm going to label it P-S This would be things like handyman work, or auto detailing, or mowing the lawn, or event planning

You can make really good money with these physical services, but if you don't work, you don't get paid This physical services area is where I started in entrepreneurship because I started working in event planning when I was in high school And then in college, I went out, and then I started my own event planning company It's great and it's an easy way to start because you don't need a ton of cash to start, but you have to keep working if you want to get paid Then you have your thinking services that I'm going to label as T-S

So, this is still low cost to start, but it comes as more freedom than a physical service because thinking services would be things like consulting, or freelancing, or selling your expertise Something where now you're not physically working, like mowing the lawn You are using your knowledge and your expertise to grow another brand or something else, and so when you're consulting a company, you can be working at 4:00AM or 4:00PM or on a weekend versus when you're event planning, you have to be at an event at a certain time so you lose that freedom here, but you get a little bit more freedom here with the thinking service The good thing about thinking services is the more you know, or the more knowledge, or the more expertise you have the more money you can make The downfall is this business revolves around your brain, so it can be hard to scale which means it can be harder to get into this higher freedom area

Just above thinking services we have, what I call, L-C-F, low cost flipping So this is when you're flipping something that you don't actually own or buy So this would be something like drop shipping on the internet or real estate wholesaling With this low cost flipping, you have more flexibility with your timings, but you have to continue to make sure that you have leads coming into your business If your drop shipping, you need to make sure that you keep having customers coming onto your website, and with your wholesaling business you need to make sure you keep having buyers and sellers coming in, this way, you can keep making money

By the way, if your unfamiliar with how real estate wholesaling works, I already made a video on it, and I'll link it in the description below With all three of these options—the physical services, the thinking services, and the low-cost flipping—the goal is to take these things and move them higher with this higher freedom area Because right now, when you start these things, you don't have a ton of freedom Yea sure, you get more freedom here and here, then here, but you still can't just go do whatever you want Right now these businesses revolve around you because if you don't work, you don't get paid

So in the beginning, what you're doing is just creating your own job Hopefully, it's like you're creating your own high-paying job, but the ultimate goal is to take these businesses and move them out of a one-person or two-person operation and move them higher here, on the freedom ladder, this way, you have the opportunity to do other things and have that freedom that you want You don't really get that opportunity to move your job higher because with your job it will always be that if you don't go to work, you don't get paid, so that's the advantage of having one of these Moving right along to higher cost things, you have H-C-F, high cost flipping My F got a little messed up, but high cost flipping is now when you're taking your money to buy something which now you're going to try to sell at a higher price

So, one thing you can do is buy distressed real estate, fix it, and then try to flip it at a higher price You need more money to actually buy real estate than you need to do a low-cost flipping which is when your wholesaling real estate, or now you could be buying things from China, buying a bunch of inventory, and then trying to sell it on your own store That takes more money than trying to do dropshipping because now you're actually buying the inventory, and then you're going to try to sell it at a higher price The advantage of this is that now, because you own the inventory, you own the product, your profit margins are higher as well Then after that, you have created your own product

I'm going to put this right in the middle here with B-I-Z Starting your own business by creating your own product In the beginning, you will have absolutely no freedom It can be high cost to start or low cost to start depending on what your product idea is, but the goal with—let me mark these so you can see them—the goal with this, this, this, this, and this, is to move these things higher into the freedom ladder, that way, you are moving beyond yourself, this way, you can have the freedom that you want, but that's still not all These are the businesses, and services, and things that give you low to medium freedom

But now, on to everyone's favorite: The things that give you high freedom right off of the bat And to begin, on the left, you have stocks After stocks will cost you a little bit more money, will be—I'll call this private investing—I'll explain what that is in just a second Private invest And then after that, you have real estate

You can start investing in stocks with as little as a hundred dollars You take your hundred dollars, and you can go on to a stock brokerage and invest in your favorite company like McDonald's or Nike or Amazon or whatever, and now you become a partial owner of these companies, that way, if these companies make money which you are not working for, you get paid What I call private investing, takes more money to start This would be your angel investing or your venture-capital investing Think of like, Shark Tank

Right now you have money and you're going to private companies that are not listed on the stock market, this might be a local cafe or a local restaurant or a local startup in your area, and now you're going to these companies, and you're going to give them money in exchange for some ownership, and you might provide them guidance or whatever, and now they're going to do the work to grow, and if they can grow, they might pay you $1,000 a month just because you gave them that money to grow their business And then you have real estate Real estate is where now you're owning properties like houses, or apartments, or offices that you're not living in yourself, you're buying this real estate so you can rent it out to other people, and in exchange for you giving them your property, they will pay you rent each and every month You don't have to go to work to get this rent, they're going to live in the property, and they're going to pay you every single month, whether you're on the beach at Bahamas or you're at work because they are using your property This part of the chart is where you want to be, no matter what

But, if you want to get the biggest returns, you need to have more money Like yeah, sure, you can invest in the stock market with a hundred dollars, but the amount of freedom you're going to get with a hundred dollars really isn't anything which is why you need to be doing one of these things and then taking the money you make from here, here or here, and moving it up into the things that pay you with more freedom Now, like I've been hinting at this entire video, the advantage of doing one of these things with the blue star is you can take one of these things: your physical services, your business, your high-cost flipping, your thinking services, your low-cost flipping, and if you do it correctly, and you're able to scale, you can move these things in to this part of the hemisphere right here, that way, now you own a business which is paying you where you are pretty hands off in, and now you could take the money that you're making here because these things all allow you to make more cash quicker than your job, especially if you're down here, and now you can take this extra money and use it to buy these things that pay you with more freedom There's no right answer to what you should be doing For some of you a job is going to be the best thing to do because you hate the idea of managing employees, and creating your own thing, and dealing with all that stress

That's not for you If that's the case, stick with your job For some of you, you're going to love working with your hands You hate the idea of sitting at a computer and working at a desk And so maybe for you, working on cars or physically working on lawns is going to be better for you

So you got to know what you like, and you got to figure out what you want to do, but regardless, you want to take the money you make from wherever it is here and then funnel it up here The advantage of the stores is you had the opportunity to make a whole lot more money quicker, and you have the opportunity to move these things up into the freedom part of this chart Now in the beginning of this video, I talked about how you need to know how to use your money, this way, you can grow your money, and that's where education comes in handy because you need to understand how to use your money, and unfortunately, most of us didn't learn how to do this in school So we have a ton of videos on our channel that can help you with that, and we even have a free e-book on money management and investing that will help you with that It is completely free, and you can read this ebook by clicking the link up here or by clicking the link in the description below

Thank you for watching, if you enjoyed this video, share it with one friend, and if you don't want to miss any of our new videos on entrepreneurship, business, and money, every single week, then hit the subscribe button below and the little notification bell, that way, YouTube actually lets you know when our new videos are released and as always, KEEP HUSTLIN' *

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