It was probably about five years ago that I made the decision to get rich and, since then, I have been working on the project continuously. What I would like to do in this post is share some of the things that I have learned along the way for anyone who is completely serious about the question: how can I get rich?
Before we start, I guess I first should answer another question that may be in your mind i.e. what qualifies me to talk about this subject, after all, I may be comfortably off, have no debt whatsoever and be making a living doing what I enjoy, but am I rich? The answer to that question is: not yet, but I am absolutely confident that is my inevitable destination.
For me, it is now just a matter of time. That statement may sound a little cocky. It is not meant to be. I am not bragging; I am simply confident. The grounds for my confidence includes the following rationale. Firstly, I have put myself into a situation in which there is no upper limit on what I can earn. Secondly, the amount I earn is entirely a product of my own efforts. Finally, a large chunk of my income is generated passively i.e. it comes in without work or effort on my part.
Many people attempt to make a living via the web and, it is commonly stated that 95% of people who start out to do so actually fail. That means that I am one of the 5% that does actually earn enough from my web activity to make a decent living. It has taken me seven years in total to get to this place. I began my main website in 2003 but was not really serious about it for the first year.
At the end of that first year, someone bought a product that was advertised on my site and I got paid $29 in commission. I will never forget the feeling. The experience changed my attitude and opened my mind to the possibility of earning a full-time living by building a web-based business. At that point, I had not made the decision to become rich; that decision came later.
My Decision to Become Rich
It must have been about five years ago that I first came across the classic book The Science of Getting Rich by Wallace D Wattles. I bought a copy of the CD and played it over and over again in the car when I was driving to customers whilst working in my old day job. There were a number of important things that this did for me.
• I began to realise that there was no reason I should not become rich
• I began to see that there was nothing inherently wrong with being rich
• I began to realise that there was nothing unspiritual about being rich
• I began to see abundance as God’s intention for his children
• I began to see becoming rich as a real possibility for me
In the book, Wattles spends a considerable amount of time explaining why there is nothing wrong with wanting to become rich. It was something I needed to hear. I didn’t think I needed to hear this message, but deep down, I had been conditioned to think that there was something … well, unspiritual about being rich. I now see this thinking as completely wrong. I actually believe that God’s provision is truly abundant.
In addition, when I think back to some of my childhood conditioning about the subject of money, I came to realise that my mum (bless her for everything she did right for me) in particular, did have a scarcity mindset. I remember hearing messages such as ‘money does not grow on trees’ and ‘you think I am made of money’ being repeated during those formative years. I understand her attitude toward money was a product of her background and she certainly had it much tougher than me, but these attitudes were things I needed to learn to dump because they simply were not useful. In fact, they are obstructive.
Wattles examined, so carefully, the causes of wealth and discussed them at length in the opening of his book. I found it refreshing to learn that riches are not caused by having a privileged start in life or living in a particular place or being above average intelligence. The list went on and on, but without doubt, he made an excellent case for the fact that anyone living in a well developed economy has at least the chance to get rich.
Once I had come to realise that there was nothing inherently wrong with being rich, that this quite natural desire common to most people, is simply an expression of the wish for a fuller life, my thinking began to change. When I properly understood that being poor was not a part of God’s plan for humankind or some preferred state for spiritual progression, but a particularly sad misinterpretation of certain Biblical passages, then my mind became opened to possibility. When I realised that God’s provision is in fact bountiful and abundant and that my own desire for a fuller life was in harmony with God’s intention, I finally made my decision to become rich.
What I Have Learned So Far
There is no question that I will revisit this subject in future blog posts. As I mentioned above, I have not yet achieved what I set out to do, so there will be more to learn and more for me to write and comment about in due course. But I do feel that I have made enough progress to begin to document what I have learned. Here are what I believe are some very important points.
• You must take control of your own destiny
• You will never get rich working for someone else
• You must dedicate yourself to providing service
• You must deal with people in such a way as to leave them better off
• You must engage in transactions that truly benefit other people
Firstly, you really do need to start your own business if you want to get rich. It is a simple matter of economics that you will always be paid the market rate for your services if you choose to work for someone else. Even if you work for a very generous company, market forces dictate that the best you can ever do is to be paid at slightly higher than the market rate – whatever that happens to be – and that is not a recipe for getting rich. I am not saying it outright cannot be done, but it is extremely unlikely that you will get rich working for someone else.
The wonderful thing about the web is that it is a place where you can do all of the above whilst taking hardly any risks. The cost of setting up a web-based business is very small indeed and you can create the opportunity to serve others very easily. When you create what I like to call your ‘value transaction’, people will want to do business with you, they will want to purchase your products or services because you can genuinely help them with their problems.
Your ‘value transaction’ is an offer that becomes a ‘no brainer’ for the other party. It is a proposal that should make absolutely no sense for them to turn down. In order to create such a transaction, you have to really understand first, who you are trying to serve and then exactly what that party is trying to achieve. Everyone is already busy trying to achieve something and you need to know exactly what your prospect is desperately trying to achieve and how you can truly help them to achieve their goals.
In your value proposition, you effectively offer to give that person exactly what they want in return for a reasonably modest payment. When your ‘value transaction’ is properly created, it should in the mind of the other person be almost impossible to turn down. That’s the kind of offer you need to create and when you have created it, you then simply need to get that offer in front of enough of the right people.
How Can This Advice Make You Rich?
If you are prepared to invest the time in doing what I have outlined above, you can indeed become rich. This is not bravado or hyperbole; it is a simple fact. The opportunity is absolutely huge and astonishingly, the odds do not favour larger organisations. Anyone who has developed the know how is not working for a large company; they are working for themselves. The web gives you the exactly same opportunity, for the first time in history, to get your value proposition in front of a global market. The reach of the web is far greater than you may even begin to realise. It is so huge that, if you only make a tiny dent in penetrating a particular market space, it can be more than sufficient to make you rich.
So, let’s quickly recap. You must first take your destiny into your own hands by starting your own business. This is important because there will be no upper limit to what you can earn. If you are serious about getting rich, be sure you understand that this is a very important step. Second, you will identify exactly who you can serve. You will understand your prospect so well that you will be able to create the solution for which they are already searching. Third, your solution will be presented in such a way that it becomes a no-brainer i.e. it is virtually impossible for your target prospect to turn down.
Do not underestimate the value of the foregoing. If you do not have your ‘value transaction’ carefully worked out, the remainder of this article will be of little value. If however, you are prepared to do exactly what I have outlined above, you will definitely be on the right track. The next thing is to get your offer in front of enough of the right people. The right people are, of course, those who are experiencing the very difficulty for which your value proposition represents a no-brainer transaction. In marketing jargon, we would be talking about targeted prospects.
Again, the web gives you the perfect method of doing this. There are a whole variety of methods you can use to get your offer in front of the right people. A very simple method is by using Google’s Adwords program. This involves buying clicks, otherwise known as traffic or visitors. You can get visitors very cheaply using this method so if your offer converts visitors to sales very well – and it should do or you have not created the right value proposition – then you will effectively be buying sales.
Now it becomes a simple numbers game. If you can buy traffic for less than the amount you make by selling your solution, you can become rich. There is no question about it because the traffic is virtually unlimited if you have chosen to serve a market that represents a wide enough demand. It is like spending $1 to make $2 – it becomes very simple when your numbers all work. Just think about that for a moment. If you could somehow do that, if you could go into a shop and for every $1 you spent, they gave you $2 in return, how much money would you choose to spend in that shop?
Would you be prepared to spend say, $1 million if such a transaction was guaranteed? You might think that you couldn’t do that because you don’t have $1 million, but you could simply borrow the money and repay it very quickly if it were guaranteed that you could make $2 for every $1 you spent. It would not take you long to become rich would it? Now, if you create the perfect value proposition, that is in effect exactly what you can do.
To take a simple example, supposing your offer converted at say 5% i.e. you get 5 sales for every 100 visitors. Suppose you made just $20 per sale. That would be 5 x $20 = $100 from every 100 visitors you managed to get to your offer. That means you would have to pay no more than 50 cents per visitor. Is that doable via Google Adwords? I don’t wish to make this sound simpler than it is but unquestionably, the answer is yes.
You can adapt the plan to avoid Adwords if you learn how to get good rankings in Google’s organic search results. That way, your traffic comes free but, of course, it takes longer to get the visitors than via the Adwords method. The above represents everything you need to know about how you can get rich. Remember though, that this final piece of advice must be applied to the type of offer we spoke about above – a no-brainer for your target prospect.
Well, that’s about it for now. As I said, we’ll return to this subject again in the future when I can offer some more useful advice. I hope you feel inspired by the opportunity that the web represents. It really is the opportunity of the millennium, so don’t let it pass you by. If you follow the advice in this post, there is absolutely no reason why you too cannot be in the 5% of people who are succeeding online.