People often scoff at the idea of getting rich quick, but the truth is that it is possible to achieve wealth in a relatively short amount of time – if you have the right mindset and take focused action. While there is always an element of luck involved in becoming a overnight success, if you are determined and have the right knowledge, you can make it happen.
Of course, when we say “quick” we are not talking about becoming a millionaire overnight. It may take several years to achieve your goals, but it is possible to make significant progress in a short period of time if you are focused and dedicated.
So if you are tired of struggling financially and are ready to start making real progress towards your goals, keep reading. With a little hard work and dedication, you can achieve the financial success you’ve always dreamed of.
Anyone can have an idea, and with the right knowledge and drive, that idea can be turned into a workable reality. That’s what most people lack – not the idea, but the ability to make it work.
So let me give you some knowledge right now – the knowledge of the wealthy. There are many ways to get rich quickly, and I’ll share one example with you along with some insights about what the wealthy know and have known for centuries.
Arbitrage is an important concept for anyone interested in finance or building wealth. It’s a term that’s used frequently in financial circles, but it’s often misunderstood as just a fancy French word used by stock market insiders.
The reality is that arbitrage is one of the most important ideas about wealth that you should understand. An arbitrage deal is simply this: if I offered you 70 cents for your crisp clean dollar bill, would you take the deal? What if you had $100,000 and I had $75,000, and I said “look, let me deposit this money into your account in exchange for your money?” How would you feel about it?
Arbitrage deals like this happen all the time in the financial world, and understanding how they work is crucial to building wealth.
Arbitrageurs make a living off of finding ways to exchange something of value for more than what it’s worth. In other words, they’re essentially middlemen who find ways to get paid for the difference in value between two things. For example, let’s say I had an item that was worth 70 cents but I was able to find someone who was willing to pay me a dollar for it. I would then be arbitraging because I exchanged something of value that was worth less to me for something of value that was worth more to me.
The wealthy have used arbitrage for centuries because it is one of the most effective ways to increase your wealth. And it’s a secret that is tightly held within the upper echelons of society because it is so powerful. If more people knew about arbitrage and how to effectively use it, there would be a lot more millionaires and billionaires out there. But as it stands, only a select few know about this wealth-building secret.
Here’s an example of arbitrage that I used many years ago when I was first starting out and felt broke, dejected, but hopeful.
It wasn’t that long ago, but it feels like centuries ago. It’s pre-history now. One form of arbitrage is the concept of economies of scale. This arbitrage strategy relies on a single fact – an irrefutable reality about fiscal life on planet Earth. Here it is: when you buy something in bulk, you’re usually entitled to a large discount on your purchase.
One way you can start generating an income to replace your current job is by taking advantage of economies of scale. When you look at newspaper and local journal price lists, you will notice that they are very yielding to this concept. For example, a small ad may cost $140, but if you buy a full page, you would only pay $900. This is because it requires less work for the publication.
I had the idea to start a weekly page called “Martins Market.” I approached 200 business owners and told them they could get a small ad in my one-page spread for just $90—a full $50 cheaper than if they bought their ad from the paper directly. Do you think this offer interested a good percentage of the business owners I approached? You bet! Not only that, but they got a further discount if they paid six months in advance.
I could fit 40 ads of that size onto my page. Being filled up, I made $3600 every week for an outlay of $900 for the page.
My graphics were well-received by clients, who reported increased sales from their ads. This was reproduced 20 times around the country, with 2 sales staff for every “Martins Market.” I netted close to $20,000 per week for a fairly lengthy period.
You’ll need a few dollars to try this, but if you do your research properly, you can make this work and get the same results.