here's the secret to getting rich.. #Best Education Page #Online Earning

hello once again guys welcome back to

the channel hope you're having a great

day so far so what we're going to be

talking about in this video today is the

secret out there to getting rich now

this is the closest thing out there that

I have come across if you're looking for

some kind of get-rich-quick secret and

the fact that you're looking for that

alone is kind of just an issue in and of

itself because there is no such thing as

a free lunch out there or anything

that's going to make you rich overnight

but this right here is the number one

lesson that I learned that had a

substantial impact on the amount of

money that I was making and that is

understanding the concept of leverage

and what I mean by that is the ability

to leverage both the skills and the

talents of other people to make you

money that is the number one thing that

you can do or the number one skill that

you can learn that can allow you to

become rich and I was trying to think of

the best way to demonstrate this and I

thought of a perfect example here using

a barber shop so let's say in scenario

number one you are not leveraging the

skills or the talents of other people

you are leveraging your own skills and

you are a barber how much money could

you potentially make while starting out

let's say you leave barber school and

you're just getting started and you're

making about $15 per haircut if you're

doing twelve cuts a day you could make

about $180 per day as a barber then you

get a little bit better and you're

making $20 per cut and you're making you

know 240 per day you get a little bit

better and then you're making $25 per

cut and you're making $300 per day

certainly not going to become a

millionaire looking at numbers like that

but let's say after years and years of

being a barber you become a master

barber you're the best in the area and

you're charging $50 per haircut even so

you're going to be making just six

hundred dollars per day so looking at

scenario number one here of leveraging

your own skills it's gonna be damn near

impossible to become a millionaire or to

get rich because there is a cap on how

much someone is going to pay for a

haircut there's nobody out there that's

going to pay $1,000 for a haircut or at

least not in most cases and so there's a

ceiling to the amount of money that you

can earn when you're simply leveraging

your own

skills and talents this is where most

people go wrong when they're looking to

get rich they either focus on a high

income profession like being a lawyer or

a doctor or they're looking at a high

income skill that may be copywriting or

sales or maybe even being a barber or

whatever it may be the problem is it's

all based on your own effort and your

own energy and there's going to be a cap

on how much people are willing to pay

for whatever service you are providing

so that is what most people do in the

world they follow scenario one and they

simply leverage their own skills and

their own efforts and that is not the

way to get rich scenario number two is

slightly better and that is instead of

being a barber owning a barbershop so

the way it works in most barber shops is

that if you are a barber there you pay

to rent a chair there and that goes

towards the upkeep the electricity and

the advertising everything associated

with that barber shop or they may be

getting a cut or percentage of the

haircuts you are doing however that is

structured but let's say for example

this is a barber shop where if you're

going to be a barber there it's going to

cost you $50 per day well let's say that

that barber shop has 10 chairs meaning

if there were 10 barbers in there they

would each pay $50 per day to cut hair

meaning the owner of that barber shop

would be making $500 per day but the

difference being here is that the

barbers themselves are doing all of the

work and the owner of that barber shop

simply provided the chairs the equipment

the building for them to do their work

and he is leveraging these skills and

talents of other people and each of

these barbers working there are totally

okay with this deal because they're

making 180 or 240 or 300 dollars per day

cutting hair meaning that they would

happily pay $50 a day to rent a chair at

this barber shop now most of these

barbers are not going to want to go out

there and open up their own barber shop

they would rather just cut hair

somewhere else and pay this fee to rent

that chair so that is scenario number

two of leveraging these skills and

talents of other people and now I want

to show you something that is called

scale or scaling this business now some

businesses are going to scale better

than others I have no experience with

barber shops at all

I stick to online businesses but scaling

is basically taking something that works

on a smaller level and blowing it up to

a much larger level so let's say

somebody scaled this barbershop and

replicated at four times over and opened

four barber shops in the area if each of

those were fully rented at 10 chairs per

day that's $500 per day per shop or

$2,000 across those four shops that is

what is known as scaling when you take a

business model that works and scale it

at a larger level that is the only

secret I have come across to getting

rich is the ability to leverage the

skills and talents of other people and

creating a scalable business and this

can all be summarized with one quote

here from john d rockefeller he said I

would rather have 1% of the efforts of

100 men than 100% of my own efforts that

is the secret to getting rich is

leveraging 1% or a small portion of the

efforts of many people rather than what

it is that you can do directly because

there's only 24 hours in a day and so if

you're only deriving income from your

own efforts there's always going to be a

ceiling to the amount of money that you

can earn anyways guys that's gonna wrap

up this video let me know what you think

down in the comment section below and if

this is your first time learning this

lesson and you think other people might

find it to be valuable please share this

with friends and family but I hope to

see you guys in the next video make sure

you subscribe if you are new and thank

you so much for watching

#Best Education Page #Online Earning

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