Do you want to earn more money but don’t know where to start?
Do you want to start a business but don’t know what is the perfect time to start one?
Do you want to invest but don’t know where or when to invest?
Well, wealth triangle may answer all your questions.
In this article, we will try to explain the concept of wealth triangle and how the triangle answers those questions.
Making a handsome amount of money is the dream of every person but unfortunately not every body manages to make it. The main reason behind this is the lack of guidance.
Although there are multiple guidance programs available these days but almost each and every program requires you to invest in order to get something out of your business.
However, this is not the case with the Wealth triangle of Dan Lok. The program basically focuses on helping the users to discover new ways of creating wealth.
Dan Lok himself is an entrepreneur, millionaire mentor and international best selling author and speaker. Dan Lok has created an empire of eight figures and runs 21 companies now and he himself has started from nothing.
In wealth triangle he has simply explained the concept of making money easily and quickly.
According to Dan Lok,
Wealth is formed by three basic concepts and they can be combined as a triangle. These three concepts are High Income Skill, Scalable Business and High Return Investment. This triangle is a formula to create massive and indestructible wealth.
Let’s talk a little about these three sides of the triangle.
High Income Skill (First Side of Wealth Triangle):
Dan Lok consider it as the most important side of the triangle and according to him it is the building block. It is the high income skill that will help you to make at least 100,000 dollars a year.
A high income skill is a skill that will help you to make at least 10,000 dollars per month or at least 120,000 dollars per year.
These skills can include copy writing, sales, online marketing and even the fitness consultation. You will basically trade your skills for high dollars and this trading will generate income for you.
However, this is a little different then the generic jobs. In generic jobs you income is controlled by your manager or boss but in this case it will be your market place that will help you to decide how much you will make every month.
As your market place starts to build up, your worth as a professional and per month income will also increase.
In a high income job you have to depend on others. On the other hand if you have high income skill you will be able work independently.
- High income skills will help you to make at least 100,000 dollars a year.
- Improve your skills to a higher stranded. As a result you will be able to trade your skills for high amount of dollars.
Scalable Business (Second Component of the Triangle):
Once you have the consistent flow of income from your skills you can now control your income and can invest it in a business. But make sure that you are only investing in a scalable business and not any other type of business.
A scalable business is basically a business that can be expanded easily. A restaurant in this case will not be scalable business as you have to move to a new location and to hire new staff for it.
An internet type business can be considered as a scalable business that you can operate part time and can reach global audience.
For this reason, this software business is an example of a scalable business.
- Build business that are easy to scale
- Resturent business is not scalable. As If you wan to expand it you will need same amount of money.
- Building e-commerce site can be an example of scalable business.
High Return Investment (Final Stage of Wealth Triangle):
The last side of the triangle is high return investment and once you have the money from your skill or the scalable business you can invest it in something that gives you a minimum of 10 percent return per year. The two main problems that people faces while investing is that they don’t know where to invest and how much to invest. In such cases, a professional or proper research could only help you to find the suitable business for the investments.
This is the Dan’s idea of how to make money and to multiply it. All you need to have is a high income skill and the potential to use it correctly. Creating financial success starts when you master the wealth triangle. It starts when you make the decision to improve yourself and perform at a higher level.
Just think about it, in which step of the triangle you are in right now? If you are not earning more than $10,000/month, you have to focus on developing your high-income skill. However, if you are among the top 5% of people and earing more than that, then it is the perfect time to think about starting a scalable business. According to Dan Lok only after mastering the first two sides of the triangle, you should go for a high return investment.
What do you think about it? Let us know in the comment section.