In my efforts to find ways to become wealthy I found one correlation...

[Deleted member 11126]

The biggest thing is how scalable what you are doing is.

You can scale things up with money your own personal time or becoming more efficient.

Time
This method is both the most accessible because young people all have time and energy. So if you want to increase your income and you work in retail instead of working 30 hours get a second job work 60 hours. This method is easy but also inefficient and very limited you could work 100 hour weeks at Walmart be miserable and make the same income as a college grad with a Finance degree and he has a cushy office jobs friends and a wife.

Money
This is the ultimate way to scale things up. Money saves you so much time being poor costs interest. Money can outsource so many problems you have the wealthier you are the more things you can outsource if you make 10 million a year even mowing the lawn for 2 hours a week would never be worth it since you can make hundreds of dollars in the same time span. Poor people often have to waste their time finding good deals or fixing things in the long run this does not pay off.

Efficiency
Some industries can be gamed easier then others. Door dash is a good example you can get pretty good at it or move to prime locations and double your income in a week. Vs in a stagnate wagie job like cashier being more efficient won't give you shit. So always try to get into industries where improving your skills gets you a better return on investment. In long run avoid dead end roles where being more effective does not give you a return on investment.
@Hiraeth

 

[jaw_is_law]

TLDR:

always try to get into industries where improving your skills gets you a better return on investment.

 

[Deleted member 11126]

Tldr. Find out how easy it is to scale up what you are doing by either A. (adding more time to what you are doing) B. (investing more money/resources) C. (becoming more efficient/effective)

 

[Deleted member 11126]

TLDR:

beat me to it

 

[Deleted member 11126]

Even something as simple as a lawn care business can be scaled up in the right place. Lets say you make 30 an hour if you can convince 10 guys to work for 15-20 an hour thats an example of scaling up a seemingly low potential job to a 6 figure business.

 

[Sondern]

The biggest thing is how scalable what you are doing is.

You can scale things up with money your own personal time or becoming more efficient.

Time
This method is both the most accessible because young people all have time and energy. So if you want to increase your income and you work in retail instead of working 30 hours get a second job work 60 hours. This method is easy but also inefficient and very limited you could work 100 hour weeks at Walmart be miserable and make the same income as a college grad with a Finance degree and he has a cushy office jobs friends and a wife.

Money
This is the ultimate way to scale things up. Money saves you so much time being poor costs interest. Money can outsource so many problems you have the wealthier you are the more things you can outsource if you make 10 million a year even mowing the lawn for 2 hours a week would never be worth it since you can make hundreds of dollars in the same time span. Poor people often have to waste their time finding good deals or fixing things in the long run this does not pay off.

Efficiency
Some industries can be gamed easier then others. Door dash is a good example you can get pretty good at it or move to prime locations and double your income in a week. Vs in a stagnate wagie job like cashier being more efficient won't give you shit. So always try to get into industries where improving your skills gets you a better return on investment. In long run avoid dead end roles where being more effective does not give you a return on investment.
@Hiraeth

For some reason I didnt get the tag lmao. I just happened to stumble upon this thread. I agree with the scaling principle but asfar as how to choose your job. I think money making wise not working a traditional job is the way to go. Of course not everyones gonna make it so thats a big risk but you gotta do what you gotta do. Good thread, feel free to tag me in this kinda thing

 

[fruitgunpop]

Yeah tag me too I even like your autistic money making hacks threads like the golf balls

 

[Deleted member 11126]

For some reason I didnt get the tag lmao. I just happened to stumble upon this thread. I agree with the scaling principle but asfar as how to choose your job. I think money making wise not working a traditional job is the way to go. Of course not everyones gonna make it so thats a big risk but you gotta do what you gotta do. Good thread, feel free to tag me in this kinda thing

I'm getting a degree that will require math business and coding skills. Ideally I will work for myself doing something but this will give me a backup plan.

Also it will give me some skills I can always use I think ideally starting a business is always better but its risky having a way to make 100-200K a year in a stable industry is a great fallback plan.

 

[Deleted member 11126]

Yeah tag me too I even like your autistic money making hacks threads like the golf balls

Never ended up going through with it but doordash so far is my favorite one because its very easy to game it. I will also make a thread about how I flipped black friday deals. Only works if you have 2 days of time and a few thousand to shell out

 

[Sondern]

I'm getting a degree that will require math business and coding skills. Ideally I will work for myself doing something but this will give me a backup plan.

Also it will give me some skills I can always use I think ideally starting a business is always better but its risky having a way to make 100-200K a year in a stable industry is a great fallback plan.

Good luck brother

 

[Deleted member 11126]

Good luck brother

What type of business will you be starting?

 

[Sondern]

What type of business will you be starting?

Im going into HVAC, if I become a state licensed contractor at 19 ima be making around 600k a year. I could do it at 18 but I dont think ima pass the test at 18. Rn im starting SMMA and ima also do real estate in the future. Ima be househacking to start

 

[Deleted member 11126]

Im going into HVAC, if I become a state licensed contractor at 19 ima be making around 600k a year. I could do it at 18 but I dont think ima pass the test at 18. Rn im starting SMMA and ima also do real estate in the future. Ima be househacking to start

did you mean to say 60K?

 

[Sondern]

did you mean to say 60K?

No, average wage is 600k. You have to work in the business for 5 years but Ive been doing it for 2 already and my dad does hvac. Hes a moron and a piece of crap but with him I can claim Ive worked for 5 years already. He only has 1 employee but when I go to trade school ima find them and scale my business up 10x anything he has ever done. Its kinda easy to get business from online and ive been studying it for years.

 

[Deleted member 11126]

No, average wage is 600k. You have to work in the business for 5 years but Ive been doing it for 2 already and my dad does hvac. Hes a moron and a piece of crap but with him I can claim Ive worked for 5 years already. He only has 1 employee but when I go to trade school ima find them and scale my business up 10x anything he has ever done. Its kinda easy to get business from online and ive been studying it for years.

Good luck man... Mirin ambition I only said that because I know Hvac people making 20 an hour or so.

 

[Sondern]

Good luck man... Mirin ambition I only said that because I know Hvac people making 20 an hour or so.

Yeah, same. But its already over for them, so I dont even consider them when it comes to the probability of sucess in the HVAC business