Stop Trading Time For Money

If you had the choice (and you do), would you prefer to be financially wealthy, or would you rather to be poor? For various reasons, I think most of us would prefer to be rich, and although it’s what we’d prefer, most of us have no idea how to get there. I’m not rich, so I can’t show you the way to being rich, but I have been poor, and it’s definitely not a place to which I’d ever like to return. Somewhere in my journey out of poverty lies the answer to becoming wealthy. Not the ONLY answer, but the answer for me, and maybe for you as well.

Most of us trade time for money. We put in time at a job and we get paid a salary. We get paid by the hour, or per job. We get paid for delivering a product or service, and in most cases, the only way to make more money is to work harder or longer.

Unfortunately, there are only 24 hours in a day, and at a certain point we hit a wall. We can’t get put in any more hours, and we can’t work any harder. We can ask for a raise in salary, or we can raise the price of our goods, but eventually we hit a plateau. We have made a critical mistake. We’ve exchanged our time for dollars.

What to do?

Stop trading time for money!

One of my biggest successes came when I realized I could package my knowledge, and sell it. I could create a product once, and sell it over and over again.

Back in March of 2009 I released my first product, The Steel Ball Routine. It was a magic routine that I had been performing and perfecting for over a decade. At the time, I had decided to retire the routine from my working repertoire, and instead of just letting it disappear from the world, I put out an instructional DVD on all the workings of the routine. Within a week I recouped all the money I had invested into producing the DVD. In October of that year, I released my second product, The REAL Secrets, a marketing course for magicians. It too was a great success, and all these years later I still make sales of both products every month.

The best part is the sales process is automated. I have websites for both products, and orders are placed through the website. There are times when I awake in the morning only to find out money has been deposited into my bank account while I was sleeping.

Instead of trading time for dollars, I was now trading knowledge for dollars.

We all have some kind of specialized knowledge that others would be willing to invest in. We can package that knowledge through books, DVDs, courses, seminars, and more. We can produce the product once, and sell it over and over again.

Stop trading time for money. It just may be your path to wealth.

To your success!

 

Lou Serrano

Los Angeles Magician, Corporate Entertainment Specialist, Keynote Business Speaker