What Are the 5 Elements of Making Money Successfully?

Last Updated on August 23, 2020

There are no “only 5 elements.” There are hundreds, maybe thousands of tips and ideas that will help people make more money.

  1. The most important thing is to get customers. Without people who will pay you for your products or services, nothing else matters.

  2. Having specialized knowledge or expertise in connection with the product or service your are dealing in. Without this edge, all the other elements will never come into effective play. You can get specialized knowledge and expertise from a mentor, role models, books, or from courses. Beware of getting your ideas from people whose only success and earnings came from their writings or instructing.

  3. In an entirely new field, a good future entrepreneur will gain the needed expertise by trial and error. Tinker with your marketing techniques, or your products/services. Then expand sales with whatever works.

  4. Needless to say, you will never (well, seldom) get rich working for someone else. Nor by investing in conventional things like stocks or bonds.

  5. Start your own business A.S.A.P.