This post is meant to make you think. It’s not going to be a checklist of items for you to do to increase your income. I’ve found that book and articles that make me think are often the best sources of income.

There is no money in copying what other people are doing unless you can improve on it or do it at a new location. When it comes to the Internet there is only one location, online. Creativity and problem solving are keys to building income online.

There are three basic steps to take when trying to create wealth. Increase cash flow, pay off bad debt, and find opportunities to Increase cash flow. In the end its all about increasing the amount of cash coming in at the end of every month. Let’s take a look at each step.

Step 1: Increase cash flow

The idea of increasing cash flow is exciting, but I think most people will get stuck at the question “how can I increase cash flow?” You can increase your pay at work, take a second job, or learn how to make supplemental income. I’ve come up with ways people can earn supplemental income and I created a list of 30 ways people can make money online. If those ideas don’t seem appealing then I think it’s important to spend time thinking about what can be done to earn extra money. I’ll also recommend two books, each of which have helped me tremendously.

Never Eat Alone – By Keith Ferrazzi
Why We Want You To Be Rich – By Trump and Kiyosaki

Step 2: Pay off bad debt

Step 2 is simple, pay off debt that is not being used to generate positive cash flow. For example pay off your car loans, student loans and credit card loans. But don’t pay off anything like a mortgage on a rental property that is generating income. Using debt as leverage to increase income is good, but using debt on things that don’t make you money costs you money.

Step 3: Find opportunities to Increase cash flow

When you have increased you cash flow and paid off bad debt there will be a surplus of money at the end of each month. That money needs to be reinvested into new creative ideas that will produce even more cash flow. Do you get the idea here? Take that cash that is generating income and put it right back into the same type of ideas that are increasing cash flow now.

The more ways we find to increase cash flow, the faster we will become wealthy.