1) MONEY WORKS WITH SPEED
One of the first secrets to wealth is that money works with speed. Money lying in a bank account is running away from you and getting less and less.
When we don’t move money or make it work for us, it will grow legs and run away.
Money is also attracted to those who work with speed and execute quickly. It is not the best quality in market that dominates the market, it is the first one in the market that dominates it.
Money is attracted to those who work with speed and execute quickly. It is not the best quality in market that dominates the market, it is the first one in the market that dominates it.Tweet
2.) ONLY BUY SOMETHING YOU WANT FROM MONEY OTHER THAN YOUR SALARY
The rich have a rule where they buy a car they want, only if they have an asset generating that amount for them.
The poor buy what they want from their only income stream, a salary.
My best advice always to young people is to not spend your salary on what you want, but use it to buy assets, property for rental, or businesses, then take the profit and reinvest it. You will retire before you know it.
Remember a car is not an asset. Clothing is not an asset. Computers and phones are not an asset. Even your home is not an asset.
3.) FIND A NEED AND SOLVE IT
The law of demand and supply we all know about.
Look for a need in your community, around you, make it a niche, and bring a supply. When you are unique and have a good solution, you will fill that demand.
4.) EVEN BETTER CREATE A NEED/DEMAND AND SOLVE IT
This is a step that few understand or have even thought of.
One person looks for a need while another person creates a need.
Be the one who creates a need.
This is a classic example of a door to door salesman, if they are successful, it is because they make u think u need what they have to sell you.
This is the art of sales!
5.) HOW TO DO YOUR FIRST BUSINESS WITH NO MONEY?
Many ask the question or want money in order to start a business.
If you need money for your startup, then you are not an entrepreneur.
The best business to start with no capital is service rendered business.
Instead of money, you give people your skill and time. Provide a service where there is a big demand.
A good business-idea is a problem solving business.
6.) CASHFLOW IS KING
Budget your time, money and energy. Every successful person plans his life carefully.
Businesses close because of no cash flow.
Cash flow makes u the winner in every area.
Cash flow gives u options.
7.) AUTOMATE AN ECHO SYSTEM
Automation is another secret of the wealthy.
Invest into business, properties, investments that yield a return for you, when that return gets so big, you will now begin to have automation of an echo system taking place where it works for you and making money.
8.) INCREASE YOUR PERSONAL VALUE
Increase your value as a person to increase your income.
Develop an attractive personality and always go the extra mile. Invest in yourself by developing your value and find a mentor.
The best way to develop yourself and increasing your value is to improve your skill and sharpening your skills.
Real employers pay on skill, not on time or qualification.
9.) GET A HIGH-INCOME SKILL
Begin to train yourself in a high-income skill which is anything that you can do that can bring in $10 000 a month.
Do you know what your skill is so you can develop it?
When you have a high-income skill you will always be in demand and you will have no fear of a bad economical climate or recession.
10.) AUTOMATED SAVINGS & INVESTING
Automation is this context means your account gets debited that certain amount straight into your investments and you cannot touch it.
If you purchase a rental unit property that brings rental income for you then automate that income to directly go into an investment or paying off another property or business plan.
When this is done automatically and consistently, without any rethinking and failure you can be very wealthy. Don’t start saving when it is too late.
Be multidimensional and discover different businesses globally.
Make multiple investment streams and businesses so when one does not work that the others pick up the pace.
It seems simple and we all know this saying “Don’t put all your eggs into one basket”, but few really apply it.
12.) PASSIVE INCOME
Create passive income that can keep making you money even while you are asleep.
Good examples of this are: Property Rental Income, Wise Investments, Royalties on your Intellectual Property like Music, Books, Courses, etc.
Creating passive income is not impossible because I am doing it and a large part of my income works this way.
I remember 7 years ago when I was reading books on passive income, it looked impossible, people told me it is impossible, but I kept reading.
7 years later, I can honestly say, everything I read and thought was impossible, I am doing now.
So start now, it is not too late.