Creating wealth in five simple steps.
Business Model: What you plan, prepare to produce and why; that will finance your life from the cradle to the grave.
Make what we don’t know what we want but now can’t live without.
Monetization: How you intend to attract an audience, stakeholders, resources, et al., to generate revenue for your business (life).
Note: A spoonful of sugar helps the medicine go down.
Revisit #1 if you fail to attract.
Revenue Model: Continuously giving your audience what they want for a fee – while keeping stakeholders happy.
Profit Model: How you intend to sustain, survive, and thrive when nearing your expiration date.
Earn now and later.
Exit Model: Determine how you’re going to close up shop while still in control.
Think of wealth like it is the first law of thermodynamics.
Conservation of Energy states,
“Energy can’t be created nor destroyed; it can only change form.”
This is true of wealth too. There’s no shortage and never was. As long as there’s a want; there will be wealth. #blackfriday
- The Referral of A Lifetime by Tim Templeton
- Transitioning from Employee to Entrepreneur by Marvin L.Storm
- Hackers and Painters: Big Ideas from the Computer Age by Paul Graham
- Art of Profitability by Adrian Slywotzky