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Five Ways to Get Rich
If you think about it, there are only five ways you can get rich.
1. Gamble. Buy lots of lottery tickets or spend all your vacation time in Las Vegas trying to hit it big. Unfortunately, most people, even professional gamblers, eventually lose all their money with this method.
2. Sue someone. Try to get a Mercedes to hit your car so you can sue the driver. Try to fall and smash your face in a jewelry store so you can sue the company for having a dangerous display case. Pretend to find a severed finger in your can of soup and sue the food company for your emotional stress. Unfortunately, with this method, you can seriously hurt yourself or end up in jail.
3. Marry a wealthy person or inherit your money. Rich people who want to get married to you may be hard to find. Being nice to a wealthy relative until they die can take many years. In either case, you don't have much control of your future wealth.
4. Steal it. Some people spend years trying to steal money through the Internet or with a fake investment scheme or by embezzling company money. But just like bank robbers, they usually get caught and live out their lives in prison.
5. Earn it. Yes, the honest approach is actually the easiest and the most likely to work for you. You provide a service or product that people need and you deliver it.
One of the most effective ways of earning your way to wealth is by constantly increasing your service capacity.
What Is Your Service Capacity?
Capacity: The maximum limit. The greatest amount possible. The highest quality possible.
Service: A valuable act or useful product that you provide to others.
How much service can you produce? It doesn't matter if you are providing it or not. What are you capable of providing?
For example, two auto repair shops in the same town can fix your car's engine. But one of the repair shops can also paint your car and replace your tires. It has a greater service capacity than the other shop. It also has the capacity to earn the most money, right?
Organizations thrive or die based on their service capacity. The same principle applies to you as an individual.
"The greater the investment in more service capacity, the greater the ability to get more service capacity utilized.
"The greater the service capacity utilized, the greater the service delivered.
"The greater the service delivered, the greater the income." -- L. Ron Hubbard
Based on this quote, you can see a formula for earning more money:
1. Invest in your service capacity.
2. Get your service capacity used.
3. Deliver more service or more products; or provide a better service or better products.
4. Increase your income.
For example, a hairdresser has one work station for herself. She averages 12 customers per day which is her maximum service level. She reads the above formula and decides to invest in her service capacity.
She buys a new sink, mirrors, a chair and supplies to create a new work station. She learns how to take care of two customers at the same time. While the first customer's hair is drying, she is cutting another customer's hair. They all chat and enjoy themselves. She is now handling 20 customers per day. Her income increases.
She starts the cycle again and invests in another station and hires a shampoo girl. She gets this greater capacity used and sees 25 customers per day. Her income has now doubled.
She continues using these five steps, builds a chain of hair salons and becomes rich.
As another example, you enter data into a computer. You feel like you have a dead-end job. You make $12 per hour and have no job security. You decide to invest in your service capacity by increasing the value of your time.
You notice that whenever the computers crash in your office, everyone sits and waits for the technician to fix the problem. You know the technician makes $40 per hour. So you invest your free time learning how to fix the computers. You are ready to get your service capacity used.
You corner your boss and say, "I've learned how to fix the computer problems and since I'm already here, we won't have to wait for the technician. I'll only charge $30 per hour. If I can't fix it and need to bring in the technician, you don't need to pay me for my time. And to prove I know what I'm doing, I'll fix them the next time they crash for only $12 per hour. After that, $30 per hour. Is it a deal?"
Your boss thinks for two seconds and says, "Deal!"
One thing leads to another and you are making $50 per hour within four months. You continue to invest in your service capacity until you can fix several types of computer systems. You hire and train people. You build your own company and you become rich.
Anyone can invest in their service capacity.
More Service Capacity Investment Examples
● A Texas book publishing company hires a team to translate their best-selling books into Spanish. They can now produce twice as many books using their existing book deals.
● You sell real estate for six hours per day. You invest several hours in an exercise program so you can work more hours without getting tired. You increase your personal service capacity by 50%. You sell real estate for nine hours per day and boost your commissions by 50%.
● A restaurant invests in more staff training so it can expand its hours. It now serves earlier breakfasts and later dinners. The restaurant income increases by 35%.
● Instead of drinking beer after work, an auto mechanic gets the shop owner to show him how to create custom paint jobs. The mechanic earns more pay as an auto painter and the shop owner can now sell a new service.
If you study the history of every successful business and every successful individual, including the richest people on the planet, you will discover they all began their path to wealth by investing in their service capacity.
With a little thought and creativity, you can find many ways to increase YOUR service capacity so you can also become rich.
Recommendations
1. Write down five ways you can invest some time or money to increase your service capacity.
2. Select one of these ideas and make the investment this week.
3. Get your new service capacity used.
4. Deliver more service or more products; or provide a better service or better products.
5. Make your income increase.
Copyright © 2006 TipsForSuccess.org. All rights reserved. Grateful acknowledgment is made to L. Ron Hubbard Library for permission to reproduce selections from the copyrighted works of L. Ron Hubbard. Take better control of your life with the TipsForSuccess coaching website at www.TipsForSuccessCoaching.org. For permission to copy, print or post this article, go to www.tipsforsuccess.org/reprint_info.htm or click here. To subscribe, buy books, contact us or learn more about TipsForSuccess.org, click here. |
