There’s no recipe for getting rich, but it’s no big secret either. Note down these tips and take advantage of the opportunities that come your way.
It’s safe to bet that more ink and paper has been spent on making more money than on anything else – who would have thought basic things like food, transportation or a home would cost so much? We used to think of a millionaire as a rich man.
So how do you get ahead of the game and stay there with the costs rising more and more? Surprisingly there is no secret to making a lot of money. The problem is that people want it to be easy, like winning a lottery ticket, a magic formula for everything to fit in the right place to invest and get rich.
Must Read: Tips to become a rich entrepreneur
But remember that we are living in the real world and not in a fantasy. Here are the ways people usually make money, lot of money.
1. Start with nothing and grow up in a tough neighborhood: Many successful people started with nothing and struggled every day of their lives to achieve it. Starbucks founder and CEO Howard Schultz grew up not far from where I lived in Brooklyn. Competition and adversity make great leaders.
2. Do what you love and pray there’s a market for it: Steve Jobs said, “The only way to do a good job is to love what you do. If you haven’t found it yet, keep looking. Don’t settle for it” I was absolutely right, if you follow your passion and so do your customers, the money will flow.
3. Follow the yellow road to Silicon Valley: The high-tech industry has made a lot of money for a lot of people, not just big executives. Why? Technology startups are the land of equity and opportunity.
4. Own your own business and live like a monk: Two-thirds of millionaires are self-employed. Most of them have small businesses with low budgets, they invest their money and according to the book “The Millionaire Next Door”, they never got any inheritance, do you really need a new car?
5. Take risks, make mistakes and trust your instincts: Many people take big risks, some intelligently, some somewhat foolish, others not supposed to. Trust your instincts and act smart. You’ll be wrong a lot of times, but that’s okay. No one came out on top by going in a safe zone.
6. Work like never before and make many sacrifices: It’s not a question of enslavement, but keep in mind that Yahoo CEO Marissa Mayer is a workaholic who is in the office about 90 hours a week. So does Elon Musk, who has two companies and does not know how to delegate and let’s not forget Steve Jobs when he had Apple and Pixar at the same time.
7. Make your own luck: They say that luck is when opportunity meets preparation. Even though many millionaires were very lucky, they never stopped looking for opportunities when they saw a bit of possibility. So advice is to go out into the real world for networking.
8. Diversify, diversify, diversify: The idea of old age is so true that it’s not funny. I have an old friend, whose investment strategy has always been to put his money in as many different places as possible. It takes time and effort, but the pay is incredible. Save your money, invest it wisely and diversify.
You can always call yourself a social networking entrepreneur or a CEO who generates all kinds of free content while people on Facebook and Google get rich. The truth is, no one got anywhere doing what others did. It would be the same if you compared a lottery ticket and prayed for a miracle.