How Do I Become Wealthy?

How Do I Become Wealthy?
affiliate marketing

If You’re Like Me, You’ve Asked Yourself That Question Many Times.


How Do I Become Wealthy?

If you’ve asked that question, there are already 2 things I know about you:

  1. You’re not wealthy. Wealthy people don’t need to ask how to get there, they already are there.
  2. You want to become wealthy. You aren’t satisfied with the level of income you have right now, and want to make it better.

I’m with you on this one. I want to become wealthy too. Let me be honest here and tell you that I didn’t become wealthy with my day job, or profession, if you like that term better. Most people don’t.

Maybe a little background is in order here.

I have a business degree from Colorado Mesa University. A BBA with a Marketing emphasis, so I know a little about what I’m talking about. I got that degree after I’d already ended my first career.

That was as a helicopter pilot in the Navy. Military service is great, if it’s your thing. Flying is a great career. Neither one will make you wealthy.I flew “frogs.” That’s a picture of a frog above. It’s really an H-46 Sea Knight, made by Boeing, but with the side fuel tanks (the teardrop shaped extensions above the rear wheels), and with a higher nose than tail squat while sitting on the deck, somebody decided that they looked like a frog, so the name stuck.

But I digress.

Let’s Define Wealthy.

Maybe my definition of wealthy is different from yours. I’ll go with the dictionary definition, I think. The dictionary defines it as “having a great deal of money, resources, or assets; rich.”

That doesn’t help a lot, but here comes www.cnbc.com to the rescue. They asked Americans how much money they thought they would need to be considered wealthy.

Here’s what the found out:

“When asked to focus just on numbers, however, respondents said it would take $2.4 million to be considered truly wealthy. That’s about 30 times the average net worth of U.S. households: $80,039, according to the U.S. Census Bureau.”

That survey was done in May of last year, 2018.

Sounds good to me. Let’s go with the $2.4 million.

Now That We’ve Figured That Out,

What’s next? How do we get to that $2.4 million dollars?

I guess the quickest way would be to win the lottery. Woohoo! Instant wealth! A lot of people try every week to win. I wish them the best of luck. I don’t play. Not since I learned that my chances of getting struck by lightning were greater than my chances of winning the lottery.

But, someone wins, eventually, we tell ourselves. True. That “someone” will probably never be you. I know it’ll never be me.

There are lots of things you can do to get rich. None of them are quick. Get-rich-quick schemes are scams, and will take your money and leave you disappointed.

You can invest in the stock market.

You can hunt for buried treasure.

You can pay off your debts and save your money.

You can budget and save what you can.

You can start a business.

Whoa! Let’s focus on that last one. Let’s focus on starting an online business, where we can earn passive income.

What’s passive income? That’s where you get paid without your being as work. It’s where you create a website online that people go to, purchase things, and pay. All while you are doing something else.

Nice.

There are a couple of different ways to market products online.

You Can Have An Online Store

If you’ve purchased online, you’ve visited an online store. If you have something that you want to sell, you can build an online store and sell your products. Shopify is an online platform that can help you establish an online store. There are many others.

While you’re setting up your store, you can sell products on auction sites like eBay. I do that myself.

Pros of having an online store:

  • You can sell what you want
  • You can earn money quickly
  • You can sell multiple products
  • Your website store is easy to build

Cons:

  • You have to stay on top of inventory
  • You have to deal with shipping
  • You have to handle complaints and returns
  • It’s not a great way for passive income

You Can Become An Affiliate Marketer

What’s affiliate marketing? It’s another way that established businesses get their products sold without having to spend money on advertising.

A company establishes an affiliate program (there are hundreds), and allows people to sign up as affiliates. The affiliates promote the company’s products on their own websites, and when a customer clicks on a link on the affiliate’s website, they are taken to the sales page of the company where they can buy.

If they do buy, the affiliate is paid a commission.

Pros of owning an affiliate marketing business:

  • No inventory to stay on top of
  • No dealing with shipping or complaints
  • You can make true passive income
  • There are tons of companies looking for affiliates

Cons:

  • It takes time to learn the ropes and get set up
  • Affiliate marketers usually use a blog to promote products. You need to be able to write a blog
  • You need to be able to connect with people

Both of the above methods can make you wealthy, if you stick with it and never give up. Is one better than the other?

It’s your choice really. Which way do you think you’d be more comfortable with? For a more in-depth discussion and comparison of the two business models, you can check out a post I wrote on the subject here.

Now You Ask, How Do I Become An Affiliate Marketer?

Good question. Fortunately, there are a lot of websites offering training on affiliate marketing. So many, in fact, that it may be difficult to decide which one to sign up for and spend your hard-earned money on. While I know of several, I’m only going to recommend one.

Would you be interested in an affiliate marketing training program if you could start for FREE?

Would you like to be able to get your feet wet, go through 10 starter lessons, and build 2 professional websites, all without spending a dime?

That FREE option is what got me to try Wealthy Affiliate. In my opinion, it’s the premier website online today offering thorough training in how to become a successful, even wealthy, affiliate marketer.

Over a million and a half members (and growing) agree with me.

The easy way to see if you’d like to jump in and try your hand with affiliate marketing is to visit the Wealthy Affiliate online brochure. You can find it by tapping on this link.

Good luck getting wealthy! Maybe I’ll see you in Wealthy Affiliate.

Disclosure: The FTC requires that readers be notified that if they click on an affiliate link and purchase a product, the affiliate will be paid a commission. This post contains affiliate links.

That’s how affiliate marketing works.

If you have a question or a comment, let me know.

I’m Grant.

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