4 Fundamentals on How to Make Money – The Wheelbarrow Way

4 Fundamentals on How to Make Money – The Wheelbarrow Way

in this video I’m going to teach you
four fundamental ways to increase the value of your financial transactions
also known as how to make more money now this was an idea that I actually got
from Douglas Krueger and you might not know who he is because I didn’t know who
he was either until one of his videos was recommended to me I watched it and I
realized he had some gems to share with us so the main topic of the video that
I’m gonna be referring to is on the 8 epiphanies of growing your wealth and
escaping poverty he talks about how most people are just a cog in the system and
they are working very hard but getting paid in crumbs now most people don’t
want to be a cog in the system but what are they doing they’re doing the exact
same thing that other poor people are telling them to do they’re playing it
safe that means being a good student getting a degree finding a safe job and
then retiring in the same company after 40 years and that was good this method
worked in the industrial age but we are well into the information age is there
an alternative to that though of course there is we all know that there is now
before Krueger starts explaining his 8 epiphanies he talks about an alternative
way of thinking something called the wheelbarrow way
here’s his short little explanation of it and if you want to see the entire 45
minute video which is amazing by the way you can check it out in the description
below you are young and strong you must go out into the world and earn coins
here’s how you do it pick up your wheelbarrow load it full of
bricks and for every hour that you push your wheelbarrow you will get one coin
if you want a second coin you have to push your wheelbarrow for a second hour
now we think like that we go the only way to earn coins is to work for a set
number of hours so let me go and get a job and be dependent on a boss now
you work your set number of hours every day you push your wheelbarrow for your
set number of hours and a horrible thing starts to happen you start to realize
that you can’t quite afford the car you’re not quite breaking even with the
kids and their education and the debit orders and the bonds and so on so what
do you do you go back to the thinking that was handed down to you and you say
if I’m not getting enough coins what do I have to do I have to push a second
wheelbarrow in the evenings to get more coins that kind of thinking keeps fan
in generational cycles of poverty if you take nothing else away from today this
is the one principle that is the most important do not tie your earning to the
number of hours you work you’ve got to separate those two and I’ll show you how
today now to my understanding there are four ways to get wealthy if we stick to
this wheelbarrow example number one is pretty obvious you push the wheelbarrow
for more hours obviously this works but there’s a problem with it you only have
24 hours in a day so there’s a limit and if you’re doing something physically
difficult there is a risk of injury which can prevent you from working in
the following days weeks or even months now
what about option two you can put something else in your wheelbarrow like
Douglas said you can find gold or something even better like printer ink
or anti-venom something else instead of bricks
immediately you make more money per hour of the work that you do in this analogy
this would be like improving your skills learning how to do a high-value skill
like copywriting or becoming a world-class painter or learning how to
set up a sales funnel for a business you immediately offer more value just like
switching what you carry in the wheelbarrow
I’m gonna talk a little bit more about learning new skills later but option
number three is to hire someone else to push a second where barrel and then you
take a little bit of their profits if they make any now this would be like
owning a business you tell someone where and how to move their wheelbarrow they
earn some money and then you take just a little bit off the top for essentially
taking risk you promised them money even if you don’t make any for example a
graphic design artist may not make too much money on their own but if I hire
them so that they can help me sell more products I would be happy to give them
twice their current rate they get a push their wheelbarrow and I get a collective
potential profits from it now let’s move on to the fourth way this is using
something faster than a wheel barrel using our analogy this would be like
getting a horse and buggy or moving on to a car we’re trained to move our
bricks this is called using technology for example five hundred years ago if
you wanted to sell something to people even if it was a cure to a disease you
would actually have to go out and talk to them negotiate a price and then close
the deal now this process could take an hour all the way up
– three whole days of your time just to get one sale let’s zoom up a little bit
closer fifty years ago you had to write an advertisement that may have taken you
a few hours to write but you reached way more people in your local newspaper and
now in today’s world you can literally create one sales page that does all of
your work for you you can create it once and then you can serve it to literally
millions of people instead of you having to go out and talk to every single one
of them so let’s recap real quick the four ways to make more money
number one push your wheelbarrow for longer hours most people have to do this
in the beginning just to get started number two put something else in your
wheelbarrow this would be like learning a new skill number three you can hire
someone else to push a second wheel barrel this would be like starting a
business and number four use something other than a wheel barrel leverage the
technology that we have access to by using technology and other people we
aren’t limited to our hours in fact whenever you start using technology and
you leverage other people effectively you can literally make money while you
sleep and this is the most important principle from this video I’ll say it
once again in simpler words do not tie your earnings to the number of hours
that you are working but before you can start leveraging technology and other
people to work for you which usually requires an upfront capital investment
you need to start earning money on your own and the best way to do that is to
improve what is in your will barrel like I said earlier with gold or anti-venom
and one of the best ways to improve what is in your wheel barrel is to learn a
skill that’s valuable in today’s world and to help you with this today’s
sponsor skill share offers online classes on all kinds of high income
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thank you guys so much for watching I hope you enjoy this video and most of
all I hope you learned something

Only registered users can comment.

  1. Some interesting ideas and fundamentals. You speak well. I recently made a youtube channel with similar videos, any support would be appreciated. Ty

  2. Adam Sandler makes more money than a brain surgeon will ever see in their lifetime. Who puts out more value for society? Capitalism is fundamentally broken.

  3. This is truly opens up someone's options about how to approach their daily life. Thanks for this informative video.

  4. Amazing video. I've started recently with you tube and would like your support. Let's grow together. Thanks.

  5. Once you give someone a paycheque, their brain shuts off – promise of pension and job security enslaves a person for a lifetime

  6. I feel like more and more people are exploiting the number 4 (claim that one is the best at something without concrete proof to sell products). I.e, if you want to get rich, buy my course and I will teach you how to make millions (where they make money from selling that course)… on and on and on

  7. I have been with Skillshare over 3 years and it is one of the best learning platforms and online studies I have ever used. It is well worth the price and more!

    I'm off to watch Kruger's lecture!

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