Today, let’s look at the 7th in this series as penned by George Clason in his timeless book: The Richest Man in Babylon.
Let’s assume that we are all farmers (which we are if we consider our places of business as farms).
You farm 1 acre of land this year and all is fine. If you keep farming the same 1 acre for the next 5 years with the same cropping system and yield, eventually, it would not be sufficient to take care of your needs anymore.
- Inflation continually reduces the buying power of our income (if it remains constant).
- Our needs/expenses grow as family grows, as social status rises, etc.
- In the years of low yields, imagine what it would be like!
Now, let’s flip it a bit and see.
Same farmer starts out with 1 acre, increases to 2 acres after year 1, and increases to 4 acres after year 3.
Continually increasing capacity does a lot of things:
- It makes provision for inflation
- It makes provision for growing needs
- When there are low returns, there could still be more than enough.
- The best of all is that as you increase your capacity, you have greater capacity to increase your capacity.
Does that make sense?
As you make more, you can get your additional income to earn something too.
“Increase your ability to earn!”
A ready question is “how?” Hopefully, this will be a topic to discuss soon. It could include things like additional qualifications (where relevant), growing one’s network, dreaming bigger, increased marketing, diversification, thinking outside the box, etc.
Any how, increase your ability to earn!
Image by Steve Buissinne from Pixabay