the best definition of wealth you will ever find. Wealth is "Cash flow
from other sources."
MAKE YOUR MONEY WORK FOR YOU
What this means is that, you are not wealthy just because you earn a
lot of money. You are only wealthy when your money works for you. To
become wealthy, your main job is to acquire money and then put it to
work making more money for you.
ADD VALUE CONTINUALLY
The key to creating wealth is simple. It is called "adding value."
Successful people are those who are always looking for ways to add
value in some way to a person, a company, a product or a service.
DO IT FASTER
Here is an example of adding value: Domino's Pizza. The founders of
Domino's Pizza took a common food, offered by thousands of little
restaurants and added a value to the pizza by delivering it more
rapidly than anyone else. The added value of speed enabled Domino's to
create a billion dollar empire and made the founder of Domino's, Tom
Monahan, one of the richest men in the world.
BUY IT CHEAPER SOMEWHERE ELSE
Another way to add value is to buy something in one place at one
price and then make it available in another place for another price.
For example, buying a product or service manufactured in Europe or
Asia, importing it to the United States and making it available to
people to whom it was not available before, is a way of adding value
for which you can charge a higher price.
IMPROVE THE LIFE OR WORK OF OTHERS
All manufacturing and marketing is based on this principle of added
value. All importation and distribution aims to add value. Performing
a service that enhances the life or work of another person adds value.
A dentist who takes away pain is adding value. An accountant who saves
a client money on taxes is adding or actually creating value. A
salesperson who introduces a new product or service to a customer that
helps that customer in some way is adding value. All financial
success, especially business success, is based on adding value. It is
based on the old saying, "Find a need and fill it."
COMBINE AND RECOMBINE THE ELEMENTS OF VALUE
All successful business is based on someone bringing together the
factors of production, such as labor, capital, raw materials and
management, and creating a product or service that a customer will pay
a price for that is in excess of the cost of producing it.
HOW FORTUNES ARE MADE
Adding value is the way that all fortunes are made. Whenever you see
an opportunity to give people what they want at a price greater than
it costs you to produce that product or service, you see an
opportunity to make a profit, build a business and begin moving toward
financial success. Almost any business or occupation can make you
financially independent if you can find a way to add enough value.
ACTION EXERCISES
Now, here are two actions you can take immediately to add more value
to your time and activities:
First, take the time to be absolutely clear about what it is that
people want and need to improve their lives and work. The more clear
you are about their real needs, the easier it is for you to satisfy
them at a higher level.
Second, look for ways to add value to what you are doing every day in
every way. Never be satisfied with the status quo. One small idea to
add value can be the starting point of a great fortune.
Live The Life You've Dreamed,
Derrick Carpenter
Dreams By Design Team
Looking to create freedom with a home-based business, I'd love to help you ~ 201-305-3561. http://OwnYourLifeIn45Seconds.com
I'm all a-twitter: http://twitter.com/HomeBizTaxCoach
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