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| Young Entrepreneur |
Wednesday
How To Be Rich Faster In Any Continent- Follow These Steps
No matter where you live, you can be rich faster. See the Forbes Billionaire List there are billionaire from all around the world, from all culture, from all sectors. You don't need to be Tech Geek. If you have discipline you can be rich. You need to follow these points:
1. Start As Early As You Can:
If you want to be rich start early like Warren Buffett did, he bought his first stock, when he was 11-year old. Billionaire Maxim Nogotkov also suggests you to start early.
2. Start From Your Home:
As much as Possible, start your start-up from your own home, because saving rent provides you huge support.
3. If you are Job-Holder, Don't Quit Before You see first cash flow:
I suggest you not to quit your present job until you see your first cash flow. What you can do is focus your most of time in your own business. If you manager your time you can do it after 9-5 job. I once suggest you, not quit your current job. Bill gates, Mark Zuckerberg also did not quit their study until their start-up was in good state. When you realize your start-up need more time and this is really going in your desire track then you can quit job.
4. Make Your First Employee From Inside Your Family:
This point is very important. If you analyse some deeply you can know the importance of this.
5. Dont spend on Advertisement:
If you really want to see your business as great business then dont depend on advertisement. Now advertisement cost are getting higher and higher. You have to save your this cost. This my personal experience too, don't spend any penny in advertisement in your initial phase. Read Interview with Asia's Youngest self made billionaire Yoshikazu Tanaka, you can understand why he did not spend any penny for advertisement and how word of mouth is important for initial phase on startup.
6. Don't Wait to be perfect:
The major drawback of people who want to start any business, is he tries to become perfect first. The importance of learning while doing is always important for an entrepreneur. So if you want to pursue your dream don't waste your time to be perfect first.
7. You dont need to be master in all subject:
This is like same as above point, for example if you want to start you own business which mainly depends on the IT but you have no all knowledge on IT, do not hold yourself back to learn all about IT then start your own business. Because you can take help from other in different subject. Similarly, if you only familiar with Computer programming, do not hold yourself back by spending your time to become perfect in accounting or marketing. These are just simple example you have to analyse about this.
8. Don't Wait Until You Bring out Unique Idea:
Again do not wait to produce very unique idea, you can do this later too, your first task is to run your own business. Just choose your role model from your favorite field and just copy till it generate cash flow. After you do not worry about basic needs then figure out your unique idea.
9.Start Small Think Big:
When you start generate your cashflow, spend fixed percent of cash flow on expanding your this business. Act like you are the CEO of one of the greatest company and its coverage area is huge.
10.Start Saving:
Do not spend all of your income, always save some of it. Pay your business first and then yourself.
Always remember, in your initial phase you have to cut lots of expenditure. Save your fund from advertisement, rent, salary. Act like you are from a good corporate house, while doing business meeting with client, But do not you need to open your startup in good hub. One day your company sure become. But now just start from your own home, even from your room as much as possible. Your self discipline and financial discipline are very important to get rich. Follow your dream.
And this rules applies from all the entrepreneur from all continent and countries
Always remember, in your initial phase you have to cut lots of expenditure. Save your fund from advertisement, rent, salary. Act like you are from a good corporate house, while doing business meeting with client, But do not you need to open your startup in good hub. One day your company sure become. But now just start from your own home, even from your room as much as possible. Your self discipline and financial discipline are very important to get rich. Follow your dream.
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