🪜The Ladders of Wealth Creation

The Ladders of Wealth Creation details the skills needed and potential earnings at each level. As your skills improve, you climb the ladder going from employee to business owner, which naturally increases your potential earnings.

Level 1 – Time for Money

At this level, how much you make is completely dependent on your time, such as:

• Working a traditional salary job
• Working a traditional hourly job

Essentially, you’re trading your time for money and have very limited flexibility. Most people are fine being at this level. It works for them and it’s a steady paycheck.

But if you’re not fine being stuck here (85% of employees hate their jobs according to Gallup World Poll), you’ll want to quickly upgrade your skills to climb to the next step.

Level 2 – Service Business / Self Employed

At this level, you’re still swapping time for money, but you’re your own boss. You can decide to work yourself to death or just take it chill, such as:

• Charging $50 an hour for creating landing pages for businesses
• A teacher charging $20 an hour for private lessons

Many people enjoy this level because it’s more flexible but the downside is, you’re still spending a lot of time working and you don’t have any financial security. You don’t have a steady paycheck and you always need to look for your next client.

Level 3 – Productionized Service

At this level, you’re no longer trading your time for money. You might still sell a service but you have a team to help out or you’ve used AI to automate some of your tasks.

The beauty of this is you can earn money even when you’re not actively working, such as:

• Charging businesses $3000 for creating the whole landing page, and having your team build it
• Do-it-for-you automation integrations for other businesses

Level 3 sounds like a pretty great place to be but wait until you see Level 4…

Level 4 – Selling Products:

Level 4 is the big league where true wealth creation lies. At this level, you create a product and can easily replicate it with little to no extra work. Here’s what I mean:

At the previous level, you and your team might build a website for a client for $3,000 but you might only have the time and energy to work with 2 clients each month.

But at this level, you create a scalable digital product that you can sell for years to come, such as:

• A landing page expert creates a high ticket course that sells for $4000 each

P.S. An educational YouTube channel is a great example of this. You can create a video once and it can still generate views and conversions years down the line. If you want to learn how to strategically start an educational YouTube channel and turn it into an income-generating machine, reply to this email with “YouTube.”