Most people believe that one should work for money as a single-salaried employee at a stable job and that a person’s wealth largely depends on their family background. For a lot, the most important things you can do to financially survive or accumulate wealth is to read and learn from successful and rich people. But this mentality can trap a person into working a job they do not like but they stick with it because they have to pay the bills every month. A monthly pay-check gives such people the necessary security they are looking for themselves and their family. But will you really accumulate wealth?
I believe it is much better to get a job so you can learn the skills required to be an entrepreneur. Wealth comes from experience-based learning and multiple income streams. Why would you want to work up the career ladder when you can own the ladder by yourself?
1. If you want to accumulate wealth buy assets and not liabilities
An asset is any type of investment that pays you money into your bank account such as bonds, dividend stocks or rental properties among many others. A liability is anything that costs you money and loses value over time such as cars, boats or expensive electronic devices. It is important to be able to divide between the two types. Especially the middle class too often buy liabilities they think are assets but most of the times they are actually liabilities.
2. Financial know-how only comes from experience literacy
The most important goal is to learn how money works. Make money work for you. The more you broaden your skills, the more successful you’ll be. Master accounting, investing, markets and the law.
3. Learn to sell
Learn and experience how to sell. Selling is a crucial skill if you want to become wealthy. Practice selling and networking. Being able to sell and create your own ever expanding network, it will make it much easier to run your own business successfully.
4. Fear and self-doubt are the greatest enemies to become successful
Are you becoming successful because you can or because you did? You can keep it save and avoid the risks but it can cost you opportunities. Manage your fear and do not doubt yourself. Often, it’s not the smart who gets ahead, but the bold. Just do it! If you never tried, you will never know.
5. Opportunities, Opportunities, Opportunities
Do not say: “I can not do it”. Instead say: “How can I do it?” If you already surrender with the first phrase, your brain shuts down and you no longer have to think about it. But if you say “How can I do it?”, it opens up possibilities, creates excitement and produces dreams. It forces the brain to search for responses. This way, you create plenty of opportunities. Grab them!
Sven Franssen