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Wealth Creation – How to Create Wealth Using Financial Intelligence
When it comes to creating wealth it seems like everyone is looking for the easy way out. Well, I’m here to tell you that there isn’t one. There is no such thing as free money, however, ways to work smarter, as opposed to harder, do exist. I first came across the term financial intelligence, during the boom of the stock market in the 1980s, when people were making a fortune easily and in a short period of time.
These people traded property as if it were some kind of hot commodity, like the Ipod is today. Basically they had hit on a formula that allowed them to harness the power of supply and demand and create wealth like never before. Honestly, it was like selling shovels to gold miners and being the only shovel dealer in town. Hence the term financial intelligence.
These days, if you want to make a fortune you need to be a little savvy about being able to spot a profitable business. It seems that the art of this revolves around finding business processes with very low overheads and high profits. It’s an old formula, used first by the world’s first money makers, but it never ceases to amaze me the amount of people who miss it and fail to recognize it, even when it’s staring them in the face.
The Internet is one such example, which, if you have enough knowledge, gives a business person a great opportunity to produce and distribute products at no cost. Therefore the comment on income cannot be measured. The following example shows why. Take this hypothetical scenario.
The hourly rate is not calculated, but a person goes and spends three days, say from Monday to Wednesday, 16 hours a day to write, an eBook about how to strip a BMW 320i car model. Then they spend another day editing, packaging (searching and providing illustrations) and providing references, obtaining copyright and written objections, and submitting their book to online bookstores for sale. The book sells for $20.00 and they collect a 25% commission ($5.00) per sale. they sold 100 copies worldwide in the first week, 200 copies in the 2nd week and 300 copies in the 3rd week. After this they stop counting. The formula is something like this.
5 days @ 16 hours each = 80 hours
product value = none
profit week 1 = $500.00
profit week 2 = $1000.00
week 3 profit = $1500.00
Total profit = $3000.00 – for what I did once, and once only, even if it took 80 hours to do
Divide by 80 hours = $37.50 per hour in benefits paid.
And it’s growing fast, as the market takes off. Now, past a certain point, because there was no measurable value involved, they can’t accurately measure the profit in percentage terms. This is financial intelligence at work.
It only becomes an invalid model when we start putting ourselves on a scale that can be measured on an hourly basis. This is where, as the saying goes, time is money. But this is an illusion. I say this because, how does one go about working if the amount of time is equal to a certain amount of money?
Using the example of the eBook product and sale above, for example, what if, 12 months from the date of the first sale, the profit from that BMW book is $ 25,000.00. If someone goes and says it took them 80 hours to produce a book, then they cost $25,000 divided by $80 = $312.50 per hour.
What if they have already written 10 other books in that time? Each one has started selling. How do they keep track and calculate their hourly rate?
They don’t, and they can’t, unless they want to indulge themselves in the ‘time is money’ illusion. A person is much better off recognizing financial intelligence when they see it, grasping the urge to measure their worth by how much they can make in an hour, and relax and go with the flow, and enjoy doing what they are doing. Life is too short, for them at least, to do otherwise. When it comes to how to create wealth, I think financial intelligence can be the best thing and perspective a person can have. This lends itself to the creation of simple and efficient business processes. It’s what goes into answering the endless search to make wealth easier and faster than ever.
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