Money And Finance

Normally when you are looking in to different ways to make money, it means that you are either looking for a lottery win, a way to start yourself a business – becoming an entrepreneur, or working your way to actually earning the money by working to someone else. These are all viable ways to get hold on some cold hard cash, but each of these are somehow different and produce different results. Lets start with the lottery.

Making money with lottery

It is ridiculous to see these ‘win the lottery’ e-books that guarantee results if you persist on using their methods. Lottery is about the numbers, and if you are not ready to spend your life playing the same line you must spend your money to get all the possible ccombinations of the numbers at once, and win the lottery. The problem is that in most countries there are so many numbers included in the pick that you would most likely lose more than you would win. And you could be that if you left a few lines out of the ticket, those would be the numbers that they pick. Winning the lottery is something that is not a viable method of making money no matter what someone tells you. It is all about pure luck and there is no way to game the system to your benefit.  If you want to give it a try then be my guest – you are most likely to lose more money than you make.

Making money by working for someone else

This is definitely the most certain way to actually see some cash because once you sign that contract and show up for work, your employer is bound to pay you at least for the hours you put in. Be a good member of their staff and you might keep your job and eventually move up the ladder to earn a little extra.

The problem in working for someone else is that usually there is no chance of advancing – if you work for a very small company there is a chance since your boss is going to notice you working extra hard, and if that boss is the owner of the business he or she might very well give you a raise.

If you work somewhere where your bosses are not the owners of the company, and they have to answer to a middle level boss who answers to a high level boss you basically have no chance of advancing and moving towards higher paying jobs. This is the cruel reality, and if you don’t get a better education and  apply for a new job and a higher position yoi are never going to get there – the people are just too selfish and they want advance themselves, they don’t want to give you a helping hand.

In companies like this, you might end up working very hard and being expected to work very hard. That is the biggest predicament with low level positions – you work hard and you will get special jobs every now and then. What this means is that you will get more responsibilities but you are not going to be paid any extra. Your boss is going to work less and get paid the same, because you are doing his or hers work. Working for someone else is a certain way to make money, but you are only making someone else rich.

Making money by starting your own business

Starting your own business requires quite a lot from someone. It is a viable way to get rich if you business works but if it does not, you are most likely going to fail miserably. The reason for this is that you are taking all the risks, financially and time wise. You will have to work hard to get the business started and in most lines of business you will have to make huge initial investments to be able to start your business with no guarantee of ever making any money. But still most of the rich people of the world, are people who own their own companies that sky rocketed after a few years of struggling.

The thing with starting your own business is that you have to have an idea. Starting out with something that is short term is not a good way to go even if there is no competition. If you live in a country where there is only two months of summer, you might think that starting a company that makes beach volley nets, might sound like a good idea, since there are not other competitors, and there are customers. But at the same time your markets are only going to last for the summer, and even if the game is the hottest thing this summer, it might not be there the next. Starting a seasonal niche based company is a good idea if you are certain that you can work in multiple seasonal niches. Having four different products that each work well during different times of the year might be something that could work.

The most important thing in entrepreneurship is innovation. You have to be able to come up with new ideas about making money – if you are something that is doomed to work for someone else, you might feel that getting your own company up and running is easy, and once it starts making money, there is no work left. The problem is that there is quite a lot of work involved in making money no matter what is the way – well winning the lottery excluded.