It’s the magic question we all want the answer to right?
How in the world do you make money faster?
There are probably plenty of ways to make money faster but I’m going to stick to legal and consistent.
- You could rob a bank tomorrow and you’d make money pretty quickly right?
- You could place a bet on a sporting event and clean up.
- Hell you could win the lottery and have your whole life turned upside down in the blink of an eye.
But when people ask me the question of “how can you make money faster?” they’re not usually thinking of such scenarios.
What people really want to know is “how can I legitimately and consistently make money faster?”
Here’s the simple (but not easy answer): Find something that works and scale it, period.
Like I said, it’s simple, but not easy.
- The finding part is what actually takes time.
- The finding part is the real challenge.
- The finding part takes trial and error, testing, failure, success, you name it.
But once you actually FIND the way, the key to accelerating the process is simply doing MORE of it in less time.
Let’s take two examples that are very straightforward.
First one: interest based investing
If you invest in a money market account that’s giving you a pretty steady 3% interest rate the way to make that money faster is simple. Put more money in more often and it will continue to compound. There’s no special formula here. It’s simply adding more and quicker.
Let’s say you want to sell a product through advertising.
You keep testing advertising solutions until you find one where the money you spend is less than the money you make.
Once you find that formula you scale up. You spend more money. And as long as the more you spend the more you make holds true, you keep going,.
Bottom line is that you find a process that works and make it bigger assuming your metrics stay the same.
Like I said, I didn’t say it was easy, but it’s a fairly simple formula.