Broadly speaking, there are three primary originating sources of Wealth in the world. Wealth is created primarily by People at Work, Money at Work, and Ideas at Work; and of course, any combination of these.
This week on Entrepreneur Digest, we shall be looking at People at Work. Follow us next week for Money at Work, you may also subscribe to our newsletter below.
People at Work
Wealth creation through People at Work refers to your direct earnings as a worker, employee, professional, consultant, one-man business owner or sole proprietor. You receive money in exchange for your direct labour, applied skills, expertise or services. You exchange your time and ability for cash. Since you create wealth by directly adding value to other peoples’ lives, you must be physically present and productive, for this to happen.
This method of wealth creation is therefore constrained by the amount of time you put in. It is affected by your absence from duty, and loss of productivity due to ill health and old age; and terminates when you retire, stop working or die. At this level, your time equals your money; and you can hardly become rich merely exchanging your time and expertise for cash.
It is easy to see that the People at Work route to wealth creation is not sustainable in the long term, because when you stop working, the money stops flowing. Nevertheless, it is a starting point to wealth creation. However, a switch from the People at Work method to the Money at Work method of wealth creation and multiplication is necessary, at some point, or a combination of both.
Developing your skills and improving on your specialty with an entrepreneurial mindset will help you greatly when on this route.
Building Entrepreneurs to excel on People at Work, preparing them to migrate to Money at Work is our goal at #Enterprisers. Contact us
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