How to 10x Your Income - The 4 Ladders of Wealth

Summary

このビデオでは、財務自由を実現するために必要な「富の階段」という考え方を紹介しています。ナサン・バリーが考案したこのフレームワークは、4つの階段で構成されており、最も低い収入をもたらす1階段から最も高い収入をもたらす4階段へと上がることができます。各階段を上ることで必要なスキルを身につけ、最終的に4階段に到達し、製品の構築と販売へと進むことができます。また、各階段を上る過程で得られるスキルや、サービスビジネスから製品販売へと移行する際の重要なシフトについても説明されています。さらに、オーディエンスを持つことの重要性や、製品販売の際のスキルセットについても触れています。このビデオは、財務自由への道を模索している人々にとって、非常に魅力的な道しるべとなるでしょう。

Takeaways

• 📈 成为财务自由需要通过不同的财富创造梯子逐步攀登，每个梯子代表不同的收入水平和所需技能。
• 💼 梯子一（时间换金钱）是大多数人开始的地方，但也是财富创造潜力最低的梯子。
• 🚀 梯子二（传统服务业务）允许通过提供自由职业服务来赚钱，但需要学习新的技能集，如客户发掘和定价。
• 📦 梯子三（产品化服务）通过将服务作为产品出售，提供了更多的扩展性和可预测性。
• 🛍️ 梯子四（销售产品）提供了最高的收入潜力，但也要求最多的技能，包括客户支持、销售和供应链管理。
• 💡 从梯子一直接跳到梯子四可能是个错误，因为所需的技能集差异很大，逐步攀登可以学习必要的技能。
• 📚 萨拉·布莱克利（Sarah Blakely）通过从梯子一的小时工开始，最终建立了价值12亿美元的Spanx公司。
• 🔗 拥有观众或粉丝群可以极大地促进任何梯子上的业务增长，因为它们可以帮助驱动潜在客户和流量。
• 💰 即使是在梯子一上，通过高薪工作和储蓄，一些人也能实现财务自由，但这通常需要牺牲个人生活和健康。
• 📈 在梯子三和梯子四上，随着业务的扩展，收入增长变得更加线性，而不是像梯子一那样的阶梯式增长。
• 🌐 拥有平台或市场（梯子四的最终梯级）可以带来无限的上升空间，因为随着用户数量的增加，网络的价值也随之增加。
• ✅ 成功的关键在于不断学习和适应，利用前人的经验，并通过书籍、播客和视频等内容学习财务自由的路径。

Q & A

財務自由とは何ですか？

財務自由とは、収入や資産を有している状態で、生活費を自己資本で支え、労働所得に依存しなくなる自由の状態を指します。

ウェルスクリエイションの4つの梯子とは何ですか？

ウェルスクリエイションの4つの梯子とは、ナサン・バリーが考案した理論で、1.時間対金銭の取引、2.伝統的なサービスビジネス、3.製品化サービス、4.製品の販売という4つのレベルに分類されます。

サラリーマンからサービスビジネスに移行する際に必要なスキルは何ですか？

サラリーマンからサービスビジネスに移行する際には、クライアントを見つける能力、提案書の作成、価格設定、プロジェクトベースでの作業、チームの管理などが必要です。

製品化サービスとは何ですか？

製品化サービスとは、サービスを製品のようにパッケージ化し、固定の価格と範囲で提供することで、スケールアップしやすくなります。例としては、ビデオ編集の「YouTubeショーツスターターキット」などが挙げられます。

デジタルプロダクトを販売する際に必要なスキルは何ですか？

デジタルプロダクトを販売する際には、顧客サポート、リードジェネレーション、オンライン支払いの処理、システム構築、販売ページの設計などが必要です。

なぜ多くの人々が1段階から4段階まで順番に進む必要はなく、飛び越えが可能なのですか？

人々は自分の状況やスキルに応じて、最適な梯子を選択し、飛び越え可能です。ただし、順番に進むことで、段階的にスキルを身につけることができるため、飛躍的に進む際には、その段階で必要なスキルを学ぶ必要があります。

オーディエンスを持つことの利点は何ですか？

オーディエンスを持つことで、リードやトラフィックを増やすことができます。人々があなたを知り、信頼している場合、フリーランスビジネスや製品化サービス、製品へのアクセスを促進しやすくなります。

マーケットプレイスやソーシャルネットワークとは何ですか？

マーケットプレイスやソーシャルネットワークとは、人々が商品やサービスを取引するプラットフォームです。アマゾンやFacebook、Shopify、Uberなどが該当します。これらは、非常に高度なビジネスモデルであり、多くのスキルと労力が必要です。

ファイヤー（Financial Independence, Retire Early）コミュニティとは何ですか？

ファイヤーコミュニティとは、高度な収入を獲得し、早期退職を目指す人々が集まるコミュニティです。彼らは、節約と投資を通じて財務自由を目指し、通常は4%ルールなどの戦略を用いて収入を増やします。

ナサン・バリーのブログポストの主要なポイントは何ですか？

ナサン・バリーのブログポストでは、ウェルスクリエイションの4つの梯子を紹介し、各梯子で必要なスキルや、どのようにステップを上げるかについて説明しています。また、順番に進む必要はなく、自分の状況に応じて最適な道を選択することができると述べています。

自己資本で生活するためには、何が最も重要な要素ですか？

自己資本で生活するためには、まず貯蓄を行い、投資を通じて資産を増やすことが必要です。また、節約と効率的な資産運用、そして適切なリスク管理が重要です。

Outlines

00:00

🚀 財務自由への道：富の階段理論

チャンネルにようこそ。このビデオでは、財務自由を実現するために必要なことについて学びます。ナサン・バリーが考案した「富の階段」というフレームワークを使って、収入を増やしていく方法を解説します。1段階目は最も収入が少なく、4段階目が最も収入が多いものです。多くの人が1段階目から4段階目へのジャンプを試みるが、そのスキルは大きく異なります。また、サラ・ブレイクリーのストーリーを通じて、時間対金銭の労働から何百億ドルの企業を築くまでの道のりを追跡します。

05:00

🤑 伝統的なサービスビジネス：富の階段2

自分の時間と技能を売ることから、サービスビジネスへの移行方法を学びます。フリーランスとして働くことで、時間対金銭の労働を超えることができます。オンラインのフリーランスプラットフォームを通じてサービスを提供し、クライアントを見つけるスキルや、プロジェクトベースでの作業方法、そしてサービスを製品化することでビジネスを拡大する戦略について解説します。

10:01

📦 サービスを商品化：富の階段3

サービスビジネスをさらに一歩進める方法として、サービスを製品化する方法を学びます。製品化されたサービスは、定義された範囲と価格で提供されるシステム的なサービスです。これにより、サービスをパッケージ化し、複数のクライアントに販売することができます。また、製品化されたサービスを販売することで、ビジネスを予測可能なモデルで拡大し、オーディエンスを持つことの重要性についても触れています。

15:02

🛍️ 商品販売：富の階段4

富の階段の最後の段階として、商品自体を販売する方法を学びます。これは、デジタル製品、物理製品、ソフトウェア、またはプラットフォームの所有を通じて行われます。製品の作成には多大な労力が必要ですが、販売と履行は追加の努力なしに行えます。また、ソフトウェアやマーケットプレイス、ソーシャルネットワークの販売によって、無限の成長の可能性があります。

20:03

📚 財務自由への道：学習とコミュニティ

財務自由への道は、年々容易くなっています。経験豊富な人々が書籍を執筆し、ポッドキャストを録音し、YouTubeビデオを作成することで、その知識を広げています。また、サービスビジネスを始めることで、顧客とのコミュニケーションや販売スキルを身につけることができます。コンテンツエコシステムに接続することで、初創企業家は顧客との会話と配布に時間を費やすことを学びます。

Keywords

💡財務自由

「財務自由」とは、収入や貯蓄によって生活を維持し、労働による収入に依存しなくなる状態を指します。ビデオでは、視聴者がどのようにして財務自由を達成できるかについて、リッチな情報を提供しています。これはビデオの中心的なテーマです。

💡ウェルスクリエイションのはしご

「ウェルスクリエイションのはしご」とは、ナサン・バリーが考案した概念で、財富を築くための4つのレベルを表します。ビデオでは、このはしごを使って収入を増やし、最終的に財務自由に至るプロセスを説明しています。

💡時間対金銭

「時間対金銭」は、労働時間に応じて報酬を受け取る典型的な雇用形態です。ビデオでは、これはウェルスクリエイションのはしごの1段目であり、最も報酬が少ないと説明されています。例として、サラ・ブレイクリーが最初にホテルでベビーシッターとして働いていた話が紹介されています。

💡サービスビジネス

「サービスビジネス」は、フリーランスやエージェンシーを通じて提供されるサービスに基づくビジネス形態を指します。ビデオでは、ウェルスクリエイションのはしごの2段目に相当し、時間対金銭から一歩進んだ形態のビジネスです。オンラインでウェブサイトを作成し、それによってお金を稼いだ経験が触れられています。

💡製品化サービス

「製品化サービス」とは、サービスを製品のようにパッケージ化し、定められた範囲と価格で提供するビジネスモデルです。ビデオでは、これはウェルスクリエイションのはしごの3段目で、サービスビジネスから一歩進んで、スケーラビリティが高いビジネス形態です。

💡製品販売

「製品販売」とは、デジタル製品や物理製品、ソフトウェア、またはプラットフォームを通じて製品を販売するビジネス形態です。ビデオでは、これはウェルスクリエイションの最後の段阶で、最も収入を増やす可能性があると説明されています。オンラインコースの販売がこのカテゴリーに含まれます。

💡SaaS（Software as a Service）

「SaaS（Software as a Service）」とは、ソフトウェアをサービスとして提供し、定期的な料金を受け取るビジネスモデルです。ビデオでは、これは製品販売のひとつで、繰り返し発生する収入を得ることができると説明されています。

💡マーケットプレイス

「マーケットプレイス」とは、複数のベンダーが製品やサービスを提供し、顧客が選択できるプラットフォームです。ビデオでは、ウェルスクリエイションのはしごの最高段に位置し、最も難易度が高く、しかし潜在的に最も大きな成功を得ることができると説明されています。

💡オーディエンス

「オーディエンス」とは、コンテンツや製品を通じて集められる、信頼と支持を提供する人々のことです。ビデオでは、オーディエンスを持つことが、サービスや製品を効果的に販売する上で非常に役立つと強調されています。

💡スキルの獲得

「スキルの獲得」とは、ビジネスを構築し、ウェルスクリエイションのはしごを上るために必要な特定のスキルを学ぶプロセスです。ビデオでは、各段阶で必要なスキルを学ぶことが、最終的な財務自由への道を築く上で重要な役割を果たしていると説明されています。

💡コンテンツ消費

「コンテンツ消費」とは、書籍、ポッドキャスト、YouTube動画などのメディアを通じて情報を得ることです。ビデオでは、過去の経験に基づく知識を集め、財務自由への道をより理解しやすくするための方法として、コンテンツを通じて学ぶことが推奨されています。

Highlights

介绍了财富创造的四个阶梯模型，由Nathan Barry在2019年的博客文章中提出，该模型在互联网上极度流行并改变了许多人对财富建设的看法。

阶梯一（Time for Money）是赚钱最少的阶段，而阶梯四是赚钱最多的阶段。人们可以根据自己的意愿在任何阶梯上爬升，但某些阶梯最终比其他阶梯要高得多。

许多人尝试从阶梯一直接跳到阶梯四，但这通常是一个错误，因为攀登这两个阶梯所需的技能差异很大。

通过Sarah Blakeley的故事展示了从小时工到价值12亿美元的Spanx公司创始人的转变，强调了大多数人的财务自由之路都是从阶梯一开始的。

阶梯一的底层是按小时计酬的工作，而上一层是年薪工作，这通常意味着更高的工资和更稳定的收入。

尽管阶梯一的财富创造潜力有限，但大多数人仍依赖于它作为生计来源，因为它难以通过交易时间来实现财务自由。

高收入职业如软件工程师或医生可以通过高薪水和投资来实现财务自由，但这需要节省大量薪水并进行投资。

阶梯二（Traditional Service Business）涉及自由职业服务业务，可以通过在线平台如Fiverr和Upwork提供服务。

在阶梯二上，需要学习新技能，如寻找客户、制作提案、定价服务，最终可能涉及到管理团队和运营业务。

阶梯三（Productized Services）是将服务作为产品来销售，通过定义明确的服务范围和价格，可以更容易地扩展业务。

拥有观众或粉丝群体对于推动任何业务的增长至关重要，因为它们可以帮助吸引潜在客户和流量。

阶梯四（Selling Products Themselves）涉及销售数字产品、物理产品、软件或拥有交易平台，这是财富创造的最高阶梯。

在阶梯四上，创造产品需要前期大量的工作，但一旦产品完成，每个销售和交付产品的额外工作就很少。

软件即服务（SaaS）是阶梯四的一个阶段，它允许用户为软件支付循环费用，从而为企业带来循环收入。

市场和社交网络是阶梯四的最终阶段，它们创造了一个网络效应，随着更多人的加入，市场或社交网络的价值增加。

尽管攀登阶梯四需要很多工作，但它提供了无限的上升潜力，特别是软件产品，因为它们不受服务器成本和团队规模的限制。

在追求财务自由的旅程中，每年都会变得更容易，因为已经成功的人正在写书、录制播客、制作YouTube视频，分享他们的知识。

可以跳过某些阶梯，但这样做可能会错过在较低阶梯上学习到的宝贵技能和经验。

通过阅读书籍、观看视频和参与社区，可以更快地学习创业和财务自由所需的技能，避免重复前人的错误。

Transcripts

hey friends welcome back to the channel

so what does it take to become

financially free well in this video

we're going to learn how you can turn

your income from this all the way to

this and then maybe even to this and to

answer this question we're going to be

using a framework called the ladders of

wealth creation this is a concept that

my friend Nathan Barry came up with in

his 2019 blog post that went absolutely

Mega viral on the internet and really

changed the way that I also consider

wealth building making money Financial

Freedom all that fun stuff now here is

what the four ladders of wealth creation

look like like ladder one is where you

make the least money ladder 4 is where

you make the most money and you can

climb as high as you want on any of

these ladders but some of these ladders

are ultimately just a lot taller than

the others so when trying to build

wealth a lot of people try to jump from

ladder one where you are trading your

time for money straight to ladder 4

where you are building and selling

products but this can often be a mistake

because the skills you need to climb

ladder one are a fraction of what you

need to climb ladder 4 and the thing I

love about Nathan's article here is that

he shows you all of the skills you need

to develop at each step of the ladder to

eventually make your way to ladder

number four

ladder number one time for

money this is Sarah Blakeley now Sarah

started her first business in 1990 when

she was just out of high school she

charged $8 to babysit kids for a few

hours at a local Hilton Hotel while

their moms and dads tanned fast forward

to 2021 and Sarah's company Spanx which

is a clothing company that makes

underwear and leggings was valued at

$1.2 billion and what I love about this

story alongside literally thousands of

others is that most people who become

financially free started off in ladder

number one with some kind of hourly job

now the Bottom Rung of ladder number one

is doing hourly work for someone and

this is where you think in terms of how

much money you're making per hour

otherwise known as a wage now I was at

this rung when I was 14 years old and

started working at a maths and English

study center called Kumon I was being

paid $5 an hour to uh work for 4 hours a

week um teaching kids math and English

and helping them with their like

coursework and that sort of thing now

generally The Next Step Up ladder one is

some form of salaried work and this is

where you work for a company and you get

told what your annual salary is this is

for example what I was doing aged 24 to

26 when I worked as a junior doctor in

the UK's National Health Service my

annual salary was around £36,000 GBP and

I was working on average 48 hours a week

and I had around 28 days off per year in

terms of like paid annual leave now you

might have noticed something a little

depressing which is that ladder one is

the shortest ladder when it comes to

wealth creation but ladder one is how

most people make their living and Ladder

one is the shortest ladder because it's

really really really hard to become

financially free by trading your time

for money yes there are a handful of

professions where you can become

financially free if you do trade your

time for money if for example you're a

very well-paid software engineer or

you're a very wellp paid doctor in the

US or you're like you work in finance

and like hedge funds or private Equity

or Investment Banking then yeah sure you

you're still trading your time for money

but your salary is in the millions and

therefore if you save a huge proportion

of your salary and then you put it aside

into Investments and you think about

things like the 4% Rule and blah blah

blah blah blah blah this is basically

the the method that most people who are

following the fire Community Financial

Independence retire early this is what

they're doing they're trying to earn

loads of money in their 20s and 30s so

that they can retire by age like 35 and

then that to them is Financial Freedom

but unfortunately if you're not in one

of those high-paying jobs it is very

difficult to become financially free and

even if you are in some of these

high-paying jobs you might find that

like the trade-off of working in an

investment bank for 15 years from age 21

to age 36 the amount of damage that does

to your life and your health and

relationships from what I hear from

people who are in that position much not

even be worth it when you do get to age

36 and suddenly you can retire but

anyway when you're on ladder one and

you're trading time for money your

growth in income will look something

like this you start off working for a

company and if you stay at the company

long enough and do relatively well then

you'll get a raise then maybe at some

point you'll get a promotion and then

you'll get another raise and these

little raises create these sort of small

step changes in your income graph for

example if I continued in my medical

career this is what my income graph

would have looked like in my Foundation

year 1 I'd be making about $40,000 in

Foundation year 2 maybe about 48,000

then during core training maybe I making

like 54k and then I become a registr

maybe I'm making like 58 to 60k and then

once I become a consultant age like 35

or above then I'm on around about

100,000 to 150,000 depending on how I

play my cards that is the annual salary

that I'm basically going to be at for

the rest of my life unless I decide to

for example do private practice which

could involve working for a private

healthcare company or starting my own

thing uh but that would take us to a

different ladder now interestingly in

the UK if you want to be in the top 1%

of earners that is an annual salary of

£60,000

P which is about $200,000 so if I

continued working in medicine I'd have

been around about at that salary I would

have joined the 1% maybe in my 40s or my

50s but however much money you're making

in a job there is inevitably some kind

of cap to how much you can make when you

are trading your time for money which

kind of begs the question why do most

people stay on ladder one depending on

your circumstances you might not be able

to actually physically go into ladders 2

or three or four and honestly I think

for most people who are sufficiently

privileged with all of the caveats aside

who are sufficiently privileged to have

the option of moving to different

ladders but who seem to stay in ladder

one I think a big part of it is that we

just don't consider that you actually

can move to these different ladders I

went through med school like it did not

even remotely occurred to me when I was

applying to medicine that there were

ways to make money other than to just

get a job and earn a salary and what it

took was for me to read Tim Ferris is

amazing book The 4-Hour Work Week at the

age of 18 to be like oh my God like my

whole world is opened up to the fact

that you can in fact make money using a

vehicle other than a salary job and

there's that fun story from David Foster

Wallace that I think really captures

this you might have heard it before the

two fish are happily swimming along and

they meet an older fish swimming the

other way the older fish nods and says

morning boys how's the water and then

the two young fish swim on a bit and

then they look at each other and they

say what the hell is water and for most

of us the water that we are swimming in

when it comes to making money is Ladder

one of the wealth creation ladder the

idea of trading our time for money by

the way if you were wondering about the

absolutely sick background music that

we've been using in this video and in

fact every other video on my channel

since 2017 that is from epidemic sound

who are very kindly sponsoring this

video epidemic sound incidentally is a

cross between a sort of marketplace and

a a SAS product software as a service

which we're going to talk about in

ladder 4 of the ladders of wealth

creation but sound design is an

incredibly important part of making

great videos and we get literally all of

our tracks and sound effects from

epidemic they've got a huge library of

over 40,000 songs and 990,000 sound

effects that are restriction free so you

can use them in pretty much whatever way

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just makes it so easy to build the

perfect sound design for your content

for example you might search inspiring

soaring piano music and then you can

find stuff and then you can click find

similar and that will make it easy to

find stuff that sounds similar to that

that's how I personally find a lot of

the music that I I use in my videos

their music is also professionally

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never a chance that your videos are

going to get a claim or a takedown in

the future epidemic sound gives you so

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it all remains licensed even after you

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I've been using it for literally the

last 7 years so if you want to bring

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epidemic sound for sponsoring this video

so now we come to ladder number two

which is a traditional service business

now when I was around 12 years old I

discovered something absolutely magical

which is that I had the ability to make

money on the internet by offering

services to people online and through

that realization I learned how to make

websites I learned the basics of online

like coding skills and stuff and I

advertised my services on freelance

platforms where I was charging like $10

an hour to make websites for people and

that was like a major unlock because I'd

now gone from Trading time for money to

doing more of a service business and

this is Ladder two of the ladders of

wealth creation which is some form of

freelance service business and it's very

possible to make money like this there

are platforms like Fiverr and upwork and

people per hour where anyone in the

world can post themselves as a

freelancer with a particular skill and

then anyone in the world can hire you to

do that particular skill it's pretty

magical now on lad one the core skill

you need if you want a wage job or a

salary job is essentially being reliable

performing well and showing up

consistently yes of course there are

more specialist skills like if you're a

doctor then obviously you need the

doctor skills and if you're a banker you

need the banker skills and stuff but

when you jump to ladder 2 you then need

to learn a new set of skills now at the

bottom of ladder 2 you're most likely

charging for some kind of hourly work so

for example you might be charging $20 an

hour as a freelance writer or $50 an

hour as a video editor but at the very

least you need the skill of finding

clients who will actually buy your

service secondly potentially creating

proposals for those clients and pitching

for work and thirdly probably knowing

how to price whatever your service is

and then you graduate to doing per

Project based work so instead of me

saying hey I will Design you a website

for $10 an hour and it will take me 10

hours so I'm going to charge you $100

it's more like hey I'll charge you $200

to make your website and then in fact

the incentive is for me to take as

little time as possible in in actually

delivering that service because now I'm

not being paid by the hour and then if

you decide to move one step up in that

particular ladder then you're not

necessarily the one who's actually

delivering the work maybe you're selling

the work but you are hiring other people

to do the work for you and so that is

what a service-based agency is for

example if you hire a web design agency

it is very unlikely that the person who

you talk on the phone to who sells you

the web design project is actually the

one writing the code and making the

website chances are they have imployed

other people either as Freelancers or as

employees to do the service for them so

that they can deliver the results and

things can scale a lot better and if you

get to that point where you're managing

a team to do this sort of service work

then you're probably going to need to

learn the skills of setting up a company

figuring out things like accounting and

finance and the business side of

everything and putting out job

applications to hire employees to

support you and what you need these are

generally different skills to what you

have when you're trading time for money

because when you're trading time for

money usually you're a component in a

grander system and so you're unlikely to

learn those skills but you learn those

skills as you progress up ladder number

two now you can absolutely climb higher

on ladder number two than ladder number

one especially if you hire a team to

help you provide your services but there

is also a limit to how far you can climb

on ladder 2 because most people who are

freelancing are offering kind of agency

Based Services to clients most of these

people Begin by customizing the service

for each client and this is great for

the client but before you know it you

have multiple different customers with

like a dozen different requests each

maybe more and you end up going back and

forth and it's very difficult to scale

up a business that is providing such

bespoke services for every client

they're working with and that's where we

get on to ladder number three which is

productized services on ladder number

two we have the mindset of selling a

service but to move up to the next

ladder instead of thinking that we are

selling a service we are thinking of

selling our service as a product instead

hence the phrase productized services so

let's imagine that you're a video editor

for example even if you have no

experience editing videos you are

watching this video video on YouTube and

you probably know a little something

about like the fact that these videos

are edited for example so what would

this look like if we thought about video

editing as a productized service instead

of just a normal service so you might

for example develop a package called the

YouTube shorts starter kit and you'd

then Define the scope of this YouTube

shorts stter kit you could say this

package this product involves one Zoom

call per month for 1 hour with a client

10 hours of video editing work five

completed videos per month one revision

per video Max and all videos are 60

seconds or less then you put a price tag

on this for example I don't know $2,000

a month and this is your productized

service it is essentially a systematic

service that you can deliver for

multiple clients and you are selling it

as a whole bundle as a whole product and

if some of your clients are like oh but

can you do long form instead or this or

that or can you do funkier edits and

stuff you're like no I have one product

and I just do this thing repeatedly and

I get really good at doing this thing

which means you can then stop creating

systems and processes around the thing

you can now start hiring people to help

you do the thing and because all you're

doing is selling one thing that has a

very defined scope with a very defined

product price on it it means it's a lot

easier to scale a product High service

by the way if you're interested in

learning more about this my friend Robin

we has an amazing book called take your

shot which is basically about the

process of going from ladder number two

to ladder number three and you should

check it out it's fantastic incidentally

producti Services is what another

company of mine called Hey friends does

hey friends is like a done for you

productize service that helps people do

YouTube but basically does all the stuff

for them outside of filming the actual

video it's super expensive you can check

out the website if you want but that is

an example of a product service so I'll

put a link down below if you just want

to have a look at what it looks like to

do producty Services as a kind of

YouTube agency kind of thing now this

shift from ladder number two to ladder

number three is one of the most

important shifts for wealth creation so

on ladder number two there is a limit to

how much income you can actually grow

because we run the risk of scope

expansion the projects swell you get

more clients and it starts to become too

operationally complex but ladder number

three solves this problem because a

product High service is simply a

predefined packaged service offered for

a set price and a set scope so you're

being super clear to the customer about

what they can expect and these clear

expectations are what helps you scale a

predictable model now the skills that

you need to create and sell a product I

service are also a little bit more

sophisticated for example you know how

to write sales copy that can make a sale

without necessarily you having to talk

to the customer you need to learn how to

design sales Pages or learn how to hire

experts who can design sales and landing

pages for you you need to know how to

process online payments assuming you're

selling over the internet and you need

to figure out some sort of standardized

system so systems building to be able to

deliver repeatable quality with each

service now here the way Nathan

describes it is that the Bottom Rung of

this ladder is fixed scope for a fixed

price which is what we're talking about

then you might go up by selling

recurring Services provided by your

employees and then at the final rung of

this ladder number three you would have

recurring product High services and that

is for example what hey friends is now

at this point your income curve starts

to become linear rather than stepwise as

it was in ladder number one because

essentially the more traffic or the more

leads you can generate for your product

and the more sales you can get for your

product in theory there is no limit to

how much of a product High service you

can sell and this Nuance is is here

because if your product I service has to

scale with people then you start needing

to hire more and more and more people

and then obviously you then have to

require the skills of managing a large

team and operations and complexity and

people issues and HR stuff and all of

the stuff that's associated with running

a bigger business there is sort of a cap

in terms of like the people Max Capacity

that you can personally deal with but

you can always get better at dealing

with that capacity of people over time

but one of the problems is that you need

to constantly have traffic and this is

actually where having an audience

becomes particularly helpful in fact

having an audience is a massive hack for

any of these different ladders and I've

done a bunch of videos that you can see

on the channel about how to grow your

YouTube channel you know all that kind

of stuff but basically if you have an

audience of people who know like and

trust you you're way more likely to be

able to drive leads and drive traffic

towards your freelance business or your

producti service or even your product

compared to someone who doesn't have an

audience and then we come to ladder

number four which is selling products

themselves now the wealthiest people on

the planet typically did not get rich by

selling services in any capacity instead

they sell digital products or physical

products or software instead or even

better they own the platform upon which

these different transactions take place

now when it comes to L 3 in theory if

you progress far enough it sort of

removes the need to talk to the customer

to kind of give them a kind of

customized package so in in a way L 3

removes the work of talking to the

customer and in theory lad 4 removes all

of the manual work from delivering the

product because all of the work is

front-loaded into actually creating that

product in the first place so for

example if you sell an online course

like I do the parttime YouTuber Academy

then there is a stupid amount of work

that goes into writing and filming and

editing the course but when someone buys

the course you usually don't need to do

any additional work in delivering that

course now this is the ladder that

allows you to climb the highest but it's

also the ladder that requires the most

skills for example customer support at

scale and lead generation and Gathering

customers at scale and supply chain and

operations and all of that complexity if

it's a physical product and shipping if

it's a physical product a bunch of stuff

that generally service businesses don't

have to deal with now the Bottom Rung of

this ladder is selling digital products

like what I do which is courses and

ebooks and

downloadblack and tripods for

vloggers ton can you Chuck me the light

keyboard please so for example this is

V1 of the light mode keyboard which you

can check out light mode.com if you want

a funky keyboard that looks nice and

feels nice to type

on then we go up to rung number four

which is subscription software launch

with some kind of Consulting service so

if for example I was doing a Consulting

service that was offering Facebook ads

services to businesses you know that's a

service based business but if I then had

my own software or licensed software

that would help them manage the ads I

could then charge a recurring fee for

the software that is attached to the

Consulting service then you go up one

wrong of the ladder and that is directly

software as a service where the thing

that people are buying from you is

software and ideally they are paying

some kind of recurring revenue for that

so for example we are in beta at the

moment of a product that I'm developing

with my friend Pablo it's called voice

pal it's like an AI enabled uh creative

tool that helps you overcome writer's

block you just speak into the phone and

it creates a first draft of your

newsletter or your YouTube video or

whatever thing you're trying to build

we've got around 2,000 beta users for

that it will launch publicly but you can

join the wait list with Linkin below if

you want to check it out it's at voicep

pal. me so that software that's software

as a service people either have a free

account or hopefully they pay for a

recurring monthly Revenue subscription

plan and they keep getting value from

the software this is great because it

means that for us to deliver the product

for more customers there's no additional

like capital expenditure we have to do

and the marginal cost of us onboarding a

new customer is basically zero and then

the final rung of the ladder is Market

places and social networks so for

example Amazon is a Marketplace Facebook

is a social network Shopify is a

Marketplace of sorts Uber is a

Marketplace these are very difficult I'm

nowhere near anywhere near building a

Marketplace or platform product but it's

the the final rung of the ladder now

climbing up ladder number four typically

takes quite a lot of work because each

product takes a lot of work to create

upfront but each individual sale and

fulfillment of that sale happens without

much additional effort hopefully from

the owner of the business but ladder 4

is really where you have the potential

of unlimited upside especially in

software because you're not limited by

things Beyond server costs and team

sizes and stuff as you scale but you

also have the potential for exponential

income growth because if the product is

good then in theory each sale of the

product should make the next sale easier

because you have some kind of word of

mouth effects and this is especially

true when you get to the highest rung of

the ladder with marketplaces and social

networks because the more people that

join a Marketplace or a social network

that creates a flywheel because then

more people will want to join the

marketplace of social network because

the network becomes more valuable the

more people you have in

it okay so those were the four ladders

of wealth creation according to Nathan

Barry's blog post which I mostly agree

with and I think it's just a really nice

map of okay cool these are all the

different ways I could make money and

these are the different skills I

potentially need to learn on Route and

if some of this stuff seems completely

foreign or alien to you you can check

out the blog post I'll link it down

below and over time as you become more

familiar with this entrepreneurship

space you'll start to appreciate all of

these things and they'll start to seem a

lot more like second nature even if

right now they might seem kind of

overwhelming like whoo I didn't know

subscription software with Consulting

Services was even a thing like what even

is a service based all all this sort of

stuff the more you consume content and

actually try this stuff out the more the

language will start to make sense and

then it becomes a lot easier to actually

effectively make a plan for how you want

to get to Financial Freedom now it is

absolutely okay to skip steps if you

want like you don't have to go from

ladder 1 to two to 3 to four but it's

worth recognizing that if you jump for

example from ladder 1 to ladder number

four you are missing out on a lot of the

skills that you would have learned if

you instead had built a service based

business or some kind of product I

Service Agency upfront you'd miss out on

the skills of talking to customers and

being able to sell something directly

and in fact mostly software where people

who go straight to building software

struggle with sales they struggle with

distribution they struggle with talking

to customers they like building the

thing and they don't like selling the

thing and that's why every second time

founder focuses instead on spending

loads of time talking to customers and

on distribution which would be the sort

of skills that you would pick up if you

tried to have a service based business

the other way of course of learning

these skills is to surround yourself

with a community or even content of

people teaching the skills like these

days because of all of the content

that's out there about how to build a

software startup with you know why

combinator start school and you know all

the podcasts around every software

company founder that I know is so

plugged in to the ecosystem of content

around how to build software that even

firsttime Founders are increasingly just

they just know it's really obvious that

you should spend loads of time talking

to customers but if you're not plugged

into the content ecosystem around this

stuff you will make all of the mistakes

and I think one of the things around

this whole journey to Financial Freedom

is that every year it actually becomes

easier because people who have done it

are then writing books I mean this is

not a money book but yeah I'm just

holding it up cuz it's my book you

should check it out people who have done

it are literally writing books about it

they're recording loads of podcasts

about it they're making YouTube videos

about it and now you have so much

content like this stuff would have been

like a black box in the past where only

with experience would you have even

known that a lot of these things exist

but now there's like the the map is out

there people have figured the stuff out

you can absolutely stand on the

shoulders of the Giants who've come

before us in fact I did a video U which

is honest advice to people who want

Financial Freedom which kind of speaks a

lot to this and that video will be

linked right over over here that video

will give you a significant boost up if

you are currently feeling a little bit

lost in this space this journey to

Financial Freedom so check out that

video over there thank you so much for

watching I'll see you in the next one

bye-bye