Ways to Realize and Maximize Your Dream To Building Wealth
Wealth building though an ordinary thing, has been considered extra ordinary by most people who seek to build wealth during their life time. More than 75% of the wealthy people are self made millionaires. You can as well create wealth `even from day to day life experiences by cultivating wealth building culture. This article looks at various dimensions to building wealth and what seems to be the interesting process of going about it.
Circles of wealth creation showing how to build wealthThe following infographic illustrates the process you need to consider and follow if you want to build wealth.
Cultivate wealth building cultureThe self made millionaires created their wealth out of desires to live above average, possibly they want to meet up with their needs which is born out of desires for financial stability. The following are some motivational factors that have become the bedrock of you can do it spirit.
- Dreams Dreams are basically what you want out of life existence, like spending quality time with your family, financial independence, be your own boss, wanting to be an employer of labor,or holidaying with your family members regularly. Dreams can later in one's life become a sleeping one or an active one.
- Desires Desire is a product of dreams. A dream can become dormant or sleeping one once it becomes a thing of memory flash as in the case of child who desires to become a Surgeon. Such a child may eventually grows up and not becoming one. An active dream is nurtured from time to time through regular desire until it is eventually realized
- Opportunities Only few people actually realize their dreams to build wealth because many people fail to recognize the opportunities that leap them up to realize the desire of their heart to be financially independent. The actual things that creates wealth are the opportunities that you come across everyday. These opportunities may include savings, term deposits, investments in shares, stocks or unit trusts, insurance annuity,earned income or passive income sources either online or offline.
- Action The above earlier discussed factors may turn out to be a mirage if real actions are not taken. Action is required before you can save. Action is required before you can can go ahead with some investment plans.
- Financial discipline The self made millionaires are financially disciplined. There are a lot of mitigating factors that you need to guide against to maintain financial discipline.
- You must guide against buying at impulse
- Learn delay gratification
- Formulate budget of expenses and income
- Spend less than what you earned
- Cultivate a good savings habit
- Settle all outstanding debts as early as possible
- Seek the services of financial planner when needed
- Get a retirement plan at early stage of life
How to maximize your wealth building potential either offline or offline
- continue to learn through reading of success books, attend self empowerment workshops and seminars, listen to motivational speakers, listen to audios and watch CD's on wealth building tips
- Make use of the power of leverage Wealthy people make use of the power of leverage to create wealth. The power of leverage produce synergistic effect. 2+2=5. The power of leverage can be seen when you make use of some control factors in creating wealth. Factors like OPM(other people's money), OPT(other people's time) and OPK(other people's knowledge).
- Make use of free tools The universe around you is filled with a lot of free gifts and bonuses. The internet is one of the free gift made available to humans. It is the greatest library of information you can tap for your benefit. Through the internet you can download software and free e-books on various areas of human endeavors. Do not hesitate to make use of such free stuffs in your effort to build wealth either online or offline. You can also visit local libraries to get reading materials on how to build wealth. You need an avalanche of information, enormous one to build yourself to the level you will desire.
- Learn from authorities Whatever you are trying to achieve. someone possibly has earlier achieved such during their life time. Read success stories of such individuals. written materials or success stories like:how to build wealth from nothing, how to build wealth from real estate may be highly interesting and resourceful.
- Always work hard to produce value People who work hard to add value either by new inventions, improvement,innovations, re-branding or by meeting other people's needs may end up creating wealth for themselves. You can equally build value out of your hobbies, your interests, your past experience and out of what you already know.
- Learn to be unique in your approach Every human creature is unique. make use of your unique experience to fly, perhaps it may be in your own areas of expertise.
- Adopt different promotional techniques One source of building wealth is through selling or rendering services. Adopt various promotional approaches to reach your consumers, it may be by word of mouth or paid advertisement methods.
- Invest in employees, technocrat, technology and useful resources Big corporations and establishment never want to lose their best employees to competitors, they hold them back by sending them on timely trainings, increment in remunerations, and make them live comfortable. Do never hold back as well in investing in improved technologies for improved services.
- Be an expert in your field One way to achieve this is by being a consultant or by consulting for others in case you render services. As you become more relevant in your field, people trust your opinions.
- Be SEO compliant and be updated If you are into online business, you should be SEO compliant and be updated by following internet development trend.
- Outsource from time to time If you are just growing and your budget relatively can still not accommodate much employee investment, you can outsource for major tasks through freelance sites. Outsourcing may be necessary to maintain a steady growth and to balance quantity with quality like in the case of a money making blog that posts articles everyday.
Wealth creation resources either offline or online
- Make use wisely resources available within your reach: your own ideas & thinking ability, your time, your material resources, other people's works (ideas, publications, magazines, articles and websites)
- Make use of the law of attraction Everything required to build wealth is already created by nature. We can find them within the universe around us. With the law of attraction, you can attract them to yourself for your maximum benefit. What has been created may exist as tools, software, pictures, photographs, internet resources, people around you and a host of other things both animate and inanimate.