PRODUCTS

You own products. 

When you make them, they become your property. You can sell them to others… even while you sleep.

Intellectual property generates royalties, like real estate generates rent. Selling products generates profit margin, when done properly.

Make (or buy) low, sell high. Over and over and over again.

Whether you are making electric cars -or- you wholesale paper towels and pocket the margin, the concept is the same.

The more products you sell in the shortest amount of time, the more money you make.

SERVICES

Services are trading your time and skills for money. 

This requires you to understand your value in the marketplace, and then enhance it.

Nearly all “jobs” fall into this category.

If you choose to provide services, be valuable. Be scarce. Be expensive. Don’t get commoditized.

If you’re organized enough, you can productize your services. Software is useful for this.

But the key to services is to serve others, so make sure you love it.

The more value you provide at the right points in time, the more money you make.