HOW TO MAKE MONEY.PART1

• Use the law of supply and demand to your advantage. Most of us are familiar with the law of supply and demand--the more there is of something, the cheaper it is; conversely, the rarer the product or service, the more expensive it is. However, other than when we get to a toy store before sunrise to get on line for the latest fad toy that kids can't get enough of, we don't really apply the law of supply and demand to our own lives--particularly our careers. For example, if you're aspiring to do something that many, many other people want to do (so much so that they do it for free, as a hobby) then it will be far more challenging for you to make money doing it. On the other hand, if you do something that most people don't want to do, or if you get very good at doing something most people don't do all that well, then you can make a whole lot more money. In other words, choose a career in pharmacy over photography.
Make N250,000 Per Month
Free report shows you how to make N250,000 Per Month part time


Does your job offer upward mobility?
If your career path is going nowhere, resign gracefully and switch careers. Research occupations to find out how much they pay and what their future outlook is (in the U.S., you can find this information in the Bureau of Labor Statistics Occupational Outlook Handbook). Find an occupation that pays well, and invest in the education and/or training to get you that job. Look for employers that offer competitive salaries and ample opportunity for advancement.
• If your goal is to make enough money to retire early, prioritize earning potential over job satisfaction, since you plan on getting out of the rat race early, anyway. Consider the types of jobs that pay extraordinarily well in exchange for hard work, little psychological satisfaction, and a punishing lifestyle, such as investment banking, sales, and engineering. If you can keep your expenses low and do this for about 10 years, you can save a nest egg for a modest but youthful retirement, or to supplement your income while you do something you really love doing but doesn't pay much. But keep in mind that delayed gratification requires clear goal-setting and strong willpower.
• 2

Recognize that time is money. This critical piece of advice is attributed to Benjamin Franklin, who was an accomplished American inventor, journalist, printer, diplomat, and statesman--the ultimate multitasker. Your ability to manage your time (and stop procrastinating) is a critical ingredient in your ability to make money. Whether you have a job or are self-employed, keep track of what you're spending your time on. Ask yourself "Which of these activities make the most money, and which of them are a waste of time?" Do more of the former and less of the latter, simple as that. When you're focusing on high-priority tasks, get the job done well, and get the job done fast. By working efficiently, you're giving your employer or clients more time, and they'll appreciate you for it. Remember that time is a limited resource that you're always investing. Will your investments pay off?
• 3

Jack up your prices. If you're providing a skill, service or product that is in high demand and low supply, and you're making the most of your time, you should be making good money. Unfortunately, there are many people who are too humble or fearful to demand that they get paid accordingly. It's the pushovers in life who get taken advantage of and exploited, so if you think you might be one of them; learn how to stop being a people pleaser. If you work for someone else, ask for a pay raise or get a promotion, and if none of that pans out, revisit your career options as described previously. If you're self-employed, the first thing to do is to make sure your customers and clients pay up on time--this alone can substantially improve your income. Check your prices and rates against those of your competitors--are you undercutting them? Why? If you're providing a superior product or service, you should be getting at least the average, unless your profitability depends on mass production, in which case you're probably making a lot of money and wouldn't be reading this article anyway!
• 4
Be proactive. Remember Murphy's Law: "Whatever can go wrong will go wrong." Make plans, complete with as many calculations as possible, then anticipate everything that can go wrong. Then make contingency or backup plans for each scenario. Don't leave anything to luck. If you're writing a business plan, for example, do your best to estimate when you'll break even, then multiply that time frame by three to get a more realistic date; and after you've identified all the costs, add 20% to that for costs that will come up that you didn't anticipate.[1] Your best defense against Murphy's Law is to assume the worst, and brace yourself. An appropriate amount of insurance may be something worth considering. Don't forget the advice of Louis Pasteur, a French chemist who made several incredible breakthroughs in the causes and prevention of disease: "Luck favors the prepared mind."
• 5
Redefine wealth. In studies of millionaires, people are surprised to learn that most millionaires aren't doctors, lawyers, and corporate leaders with big houses and fancy cars; they're people who religiously live below their means and invest the surplus into assets, rather than liabilities.[2] As you're taking the above steps to make more money, keep in mind that increased income does not necessarily equal increased wealth. Most people who flaunt their wealth actually have a low net worth because their debt to asset ratio is high--in other words, they owe a whole lot more money than they actually have. All of the previous steps have outlined aggressive strategies for making money, but you'll never get anywhere if you have a hole in your pocket.
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They say that a penny saved is a penny earned. Actually, when you consider that you pay taxes on every penny you earn, you really do make more money by saving than by increasing your income, especially if the extra income will increase your tax rate dramatically. For example, let's say you have a choice between saving $100 and earning an extra $100. If you pay 15% taxes, then when you earn an $100, you only get $85. But when you shave $100 off of your existing budget, you keep it all. To sweeten the deal further, if you take advantage of compound interest as found in most savings accounts, over time you'll start making money on the amount saved plus previous interest paid on that amount saved. It'll be pennies at first, but eventually the amount will multiply exponentially.
• Take advantage of tax laws if you're self-employed. Money saved on taxes is still money saved. You may be able to deduct many of your business expenses (use of your home, use of your car, office supplies, etc.) if you keep good records. You may also qualify for tax breaks, such as deducting your health insurance premiums on your tax return. These laws are in place to encourage commerce and business growth, so don't neglect their benefits.
• If you're not self-employed and work for a company, find out if they have a retirement plan. If you're lucky, employers will sometimes match contributions you make into a retirement fund. Retirement plans also often have the benefit of being tax-deferred. The longer you get to keep your money (and make interest on it) the better.
• 6

Know the difference between an asset and a liability. The dividing line is whether it puts money in your pocket, or takes it out. As much as you love your home, for instance, it is a liability rather than an asset because you put more money into it than you get out of it (unless you're flipping it or renting it out). Whatever money you save, invest it in assets such as stocks, mutual funds, patents, and copyrighted works--anything that generates interest or royalties. Eventually, you might get to the point where your assets are doing the work for you, and all you have to do is sit there and make money!
• Watch out for inflation chipping away at your assets. We've all heard an elderly person describe the purchasing power of a coin in their day. Inflation continues to make today's money worth less in the future. To win the race against time and inflation, learn to invest your money in the right places. A savings account might help you to keep up with inflation; however, to stay ahead of the game you'll want to invest in bonds, stocks, or some other investment that returns above the average rate of inflation (currently 3%-4%).

WEALTH PLATFORM with Olowo Lawrence

CREATIVITY THE SUREST WAY

Great wealth, vast fortunes, and mega-rich families were created during the industrial revolution. The same is going on today during the information revolution.

I find it interesting that today we have self-made multi-millionaires and billionaires who are twenty, thirty and forty years of age; yet we still have people forty and over having a tough time hanging onto 120,000naira a year jobs. One reason causing this great disparity is the shift from the industrial age to information age. When we shifted into the indusrial age, poeple like Henry Ford and Thomas Edison became billionaires. Today, shifting into the information age, we have the likes of Bill Gates, Michael Dell, Jerry Yang co founder of the internet company[YAHOO], Mark Zuckerberg of FaceBook all becoming millionaires. These twenty-somethings will soon be passing Bill Gates who is old at 39-in wealth. That the power of shift in ages, the shift from the industrial age to the information age. Now there is a new trends, we have moved from information age to creative age. The age where poeple who are innovative and creative are making more money even in the midst of recession.It has been said that there is nothing so powerful as an idea whose time as come and there is nothing so detrimental than someone who is still thinking old ideas. Idea rules the world says Sam Adeyemi.

HOW TO BE CREATIVE

To do these things, you will have to make a firm commitment to the following.

1. POSITIVE THINKING: One of the surest ways to survive in this economy

crisis is to be positive in solving any problems that comes your way. Positive thinking required positive thougths. If you can continually tell yourself “it can be done” then, you will find exactly that. Creativity is born and nurtured in an environment of “can do’thoughts. Believe that it is possible for you to start up your own business today and also buy hunreds of thousands of nairas’ worth of real estate in your own area.

2. BROADMINDEDNESS: “Gold there is, and rubies in abundance, but lips that speaks knowledge are a rare jewels” prob 20:15

As regards the obvious wealth creation solutions, it is possible for some principles to work out now and some might not work. So, it’s very necessary for us to look for the solutions that will work, as a prospect geologist looks for gold. They are just as precious as gold to you, because they will enable you to look for ways to create wealth without you loosing out of business in this period of economy meltdown.

3. BRAINSTORMING: I want you to know that nobody is an island,everyone is connected to a particular source for sustainability during this recession. This will require you looking for solutions to any problem that comes your way through books, internet, magazines, seminars, workshop etc. There are lots of research going on, on how things could be done, in order to improve the quality of lives and products.

You can also search for solution from great minds that are very close to you. If you walk with the wise you will become wise, but walking with the fools leads to destruction.Creativity is borne when ideas are combined together. For instance, Mark Zuckerberg is a young man who invented the face book. Facebook has come to satisfy the yearning of our world for fellowship and networking for greater advancement. Today more than one hundred and twenty million men and women across the globe interact through facebook. So you can also brainstorm for business ideas using this social networking site. Also Jimmy Wales is the man behind the wikipedia. This is an online encyclopedia, which have succeeded in helping the world to be more effective in the way we gather facts. He has been able to create a research conscious world. Wikipedia today boasts of eleven million articles in 262 languages the world over. One major attraction to the site is that it gives you an opportunity to air your research work.

4. DEEP THINKING: This is a process that involves your mind,your brain, emotion and your time.deep thinking require you to take you to ponder on issues or ideas. It is also thinking out of box. In our world today, people like Dr Yoshiro Nakamats through deep thinking have been able to come out with over different types of inventions. These includes, digital watches, the floppy disc, Cd plates, Dvd plates and taxi metres. He is also the only one to have licensed sixteen patents to IBM. How did he acheive all these results acording to research carried out, it was discovered that, nakamats, in his home uses three areas to spark his creativity.

First there is a “static room” with a rocky garden and running water which provides a serene background for free thinking. Second, there is a “dynamic room” with special audio visual equipment to play music to refine his ideas. Finally, he spent hours under water each day in his pool jotting brainstorms down on his plexiglas writing pad. His most creative time is between midnight and 4:00am, and there he gets four hours’ sleep. He belives that if you sleep more than six hours in any twenty four hours period, your brain power decreases. “Genius lies in developing complete and perfect freedom within a human being”.

Dr Nakamats believes that we are all created to create. With this he had 3200 patents registered to his name, earning him a place in the Guinees book of world records. He beats Thomas Edison, who registered 1093.

In conclusion my dear reader, in order for you to create an everlasting wealth for yourself you must cultivate a creative mind, treasure it and your prosperity will be certain. See you at the top.

Profile: Olowolayemo lawrence is like a cat with nine lives, he is a geologist by profession and an enterpreneur by passion. He is a coach to many and the facilitator of the inspiration network , an outfit that is powered and packed to help the young ones discover their hidden treasure.

You can reach him on 07034736436