If you want to make more money your business must be scalable
How much money do you earn in a year? What is your salary goal? Do you know what a business model scalable?
How much money do you earn in a year? You should start to ask you if you’ve never done. You ‘very easy to give an answer but until you really thought it will be impossible to determine what you have to do to get to your target salary or financial freedom.
When I was twenty, my father sat me down and gave me the same question, out of the blue. The advice I gave has radically changed the way I think today to work and helped me in my career.
I told him that I wanted to earn 100,000 dollarss a year. At the time, I thought they were a lot of money. You will work for about another 30 years, he said. So, how much money I get to do in my life? I did the math: 3 million dollars.
He asked me if I was happy with that amount. If I was not, what would I do?
My father was an intelligent man. Three million are not so many over a period of 30 years, taking away taxes and all expenses needed to live. The math did not help: life is short, and that figure did not seem enough for a lifetime of work. When I looked at the last paycheck, I could not be happier, and I began to think about how to make more money.
My father told me that the only way to create wealth was to find a business opportunity that had an effect and scalability that did not require my presence. It took me some time to understand what that meant. The last part was pretty easy. He explained: “A doctor can only help so many people in one day. A lawyer can only win so many cases.” To create great wealth, I needed to find something that did not require my hands and my presence. Quite sensibly, I thought.
The first concept was rather more complicated: What it means to have an effect of scalability? He told me I had to create something that could be used over and over again – that people never stop to use. In other words, he explained the concept of royalty. This could perfectly understand it.
Today, there are many examples of business models that share these characteristics as for developers of APP or franchise. And of course, there are countless examples of more traditional methods, like the stock market, bonds and real estate.
For me, the concept of scalability of a business model was tremendously attractive. Some people derive pleasure and satisfaction from being masters of their craft, to create with their own hands every day. I’m a little different. I wanted to make money and I wanted to be able to do new things, to constantly challenge me in new ways.
How much money do you want? How are you going to get them? Find my model scalable – write a book, teach courses, sell my ideas – allowed me to live where I want, with the people who work for me elsewhere and thus be the boss of myself. It gives you an incredible sense of freedom. For me, it worked.