4. Produce more value than you consume
There are two ways to become wealthy: buy assets or take them by force.
Since we are not in the business of repeating the evils perpetuated against us, our community must learn to buy assets. But without income, you are not able to buy anything – let alone assets.
Thus, you must create or increase your streams of income. There are several ways to do this:
- If you are an hourly employee, work more hours (thus, producing more) and use the surplus money that you make to buy assets. If you are on a salary, ask for a raise.
- Start a side hustle that makes you a few extra hundred our thousand dollars a month and use the surplus money that you make to buy assets.
- If you have a side hustle or business, increase the number of people you are serving. If you need to hire your first employee, do so. Cut hair by yourself and you receive a few hundred dollars a week. Hire barbers and open a multi-state barber shop that serves thousands, receive millions.
The greater the need met, the greater the wealth created.
The New Blueprint For Building Black Wealth: Move from being a buyer, consumer, and employee to being a seller, producer, and employer.
Click the tab below to see the next lesson!