The Drive
The generation and acquisition of wealth has long been one of the main drivers motivating individuals. Some attribute success in such a daunting endeavor to skillful talent and ability, others to blind luck.
Very few realize, however, that wealth can be created bountifully and with ease; it merely requires that right know-how regarding the various methods, as well as a prepared and skillful execution.
Most people believe that they don’t have the time to educate themselves on significant ways to generate wealth, but this is a misconception that should firmly be corrected.
This article will inform you that not only do you have the time to educate yourself, you also have the opportunity to execute on said knowledge as soon as possible.
The Elephant
Firstly, let’s address the elephant in the room—the coronavirus. This pandemic has made it difficult for many around the world to pursue their financial freedom.
Fear not, however, as the preeminence of the digital age negates any necessity for traditional brick and mortar processes, allowing for those with determination to pursue their dreams regardless of the virus.
6 Ways For Intelligent Wealth Creation in 2021
The first method for wealth creation that we’ll be exploring is a field known as E-Commerce; a completely digitized expression of traditional commerce that takes place on the internet.
1. E-Commerce
E-Commerce pertains to the digital distribution of material products through the World Wide Web, frequently through the usage of website storefronts or something of the like. Those who own an E-Commerce business manage the process of buying, selling, and shipping these products to customers.
What makes E-Commerce a particularly attractive field is the growth potential of the internet, as well as the fact that one may not need to purchase physical inventory in the beginning stages. Using platforms like Shopify, E-Commerce businesses can be set up for next to nothing in the modern age.
2. Day-Trading
Another way in which individuals can go about earning a sizable income is through day-trading which is the active trading of stocks in the stock market.
Thanks to platforms like Robinhood or WeBull which offer commission-free trades, individuals can now enter the market with more ease and affordability than ever before.
With such a low barrier-to-entry, rookie traders may find themselves asking which investments to be keen on. A good bet would be innovative sectors such as OTCMKTS stocks, or tech stocks.
3. Affiliate Marketing
In these days on instant transactions, one often forgets the importance of the middle-man. They shouldn’t, however, as being a middle-man for digital transactions can be quite profitable.
This is known as affiliate marketing, and it is essentially the pay-out of a commission made from the promotional sale of a client’s product.
You promote the client’s product any way you know how, and if you produce sales you will get paid a percentage of the profit from those sales. This can be especially lucrative for those who have a sizable presence in social media, blogging, etc.
Read: How To Attract Investors In Your eCommerce Startup? Look For These 5 Affiliate Marketing Criteria
5. Social Media Marketing
Another avenue of wealth generation bound to take off this year is social media marketing. This is the process of designing and distributing advertisements through platforms like Facebook and Instagram.
This can be a highly profitable endeavor for those in E-Commerce, or even for those who seek a more freelance style of wealth generation—designing the ads for others. So-called Social Media Marketing Agencies (SMMA’s) have been making a killing these past few years as noted by Medium and the increase of digital activity in 2021 will only exacerbate this.
See: 7 Easy to Implement Social Media Marketing Strategies
6. Cryptocurrency
The last method of wealth creation that can be advocated with confidence is that of cryptocurrency, the digital currency platforms designed to facilitate decentralized trade.
Bitcoin, in particular, ended 2020 off up 224% year-to-date. Institutional fund backing for the year ahead almost assures that Bitcoin and other cryptocurrencies will continue to experience a leg-up throughout the year.
This, plus the volatility of the cryptocurrency market, makes it attractive for those who have the stomach. Those looking to start off will need to set up their wallet and address, however.
In ending, I hope that this article has aided you in realizing that opportunities for seamless wealth generation exist all around you. All it takes to seize control of these opportunities is your own acknowledgment and will. Have a great year!
Read Also:
- Betterment Vs Wealthfront: Where Should You Trust Your Money?
- Grow Your Wealth: 5 Best Investments to Make in 2021
- Latest Technology Trends Which Will Affect Businesses in the Coming Years!
Author: Jane Brown
