How to Get Rich?
Before driving Into blog,
Answer one of my questions,
Have you ever worried about Money?
I am sure if you read this blog and implement these strategies in your life.
You will be Rich. You will never need to worry about Money anymore.
The strategies we have covered here is based on a research done on the richest people and business entrepreneurs in the world such as Bob Proctor, Tony Robbins, Vick Strizheus, Ramit Sethi, Robert Kiyosaki, Gary Vaynerchuk, Kevin Strawbridge, Anik Singal and more.
However, If you follow these 4 steps given in this article, I am sure that you will get Rich.
1. Start with a small and regular investment to become Rich
2. Track your expense
3. Find the iceberg of hidden income
4. Start your own business
1. Start with a small and regular investment to become Rich:
The most crucial thing you can do in your financial growth is an investment, sooner you start, easier to get rich.
Plan a small investment budget from your Income.
Keep this investment regular, and create a portfolio of investment.
If you are interested in investment then invest in share market, gold, other financial currency like Bitcoin and more.
If you start a $100/month investment in your 25 years, when will you turn 60, you will going to have $42K as a principle, whereas profit is based on your investment.
A smart investment is about consistency. If you able to keep the one you will be going to succeed with that.
Get the advantage of your employer’s, there are so many schemes such as 401k plan, PF and more. Where your employers will put the same amount into your account, how much you do.
Step 2: Track your expense
Tracking expense is very hard, but there are so many apps which can help you with this.
You need to automate your finances, such as your expenses, investment, savings etc.
Its very easy to automate things such as prior planning of expenditure, here is some spending recommendations for your finance automation.
1. 50-60% Fixed Cost: That will include your rent, Internet, debt, utilities, and more.
2. 10% Investments: Sharemarket,
3. 5%-10% Savings: includes vacations, weddings, home down payments, and unexpected expenses.
4. 20-35% Guilt-free Spending: Fun money! nice dinners, movies, and party etc.
Automate your finance, such as your billing and your investment, so you don’t get any unwanted excuse for your saving.
Step 3: Find the iceberg of hidden income
Iceberg of hidden income is on negotiation if you start negotiating on your bills that will lead to huge saving in right away.
Along with your bills start negotiating on your earning such as salary negotiation etc.
Salary negotiation is the best way to increase your income quickly 😉
Step 4: Start your own business
If you have a question that “how to become RICH?” the best answer for that is Start your own business, In this one thing most of the successful people they all agree on this.
You should find a way for Multistream of Income. As there is a limit on how much you can save whereas there is no limit on how much you earn.
Here is the two great and simple way to start a business online.
A. Start Selling your skill
B. Start an Online Business
A. Start Selling your skill:
This is one of the fastest even we can say the easiest way to earn money.
In this we do not need to learn anything new, we are going to offer those services only which we are practicing in our daily job.
So it is very easy for us to get a start.
Sites like Freelancers, Upworks, Fiverr and more offer you the best platform to start with.
This way you can start earning as freelancing and get a steady source of income for you.
The best part of this is you do not have to leave your job nor you need to learn anything new,
You have to do the same thing what you are doing in your office.
Quite interesting right.
B. Start Your Online Business:
Online business is the best way to become Rich if you do it in a proper way and with a system, if you don’t learn the way you need to do business online, you will very soon find yourself where you started.
Online business will be a key to become Rich in very short of time.
In online business, we will be reaching millions of people in the world every day, and scale your business to help them to grow their businesses.
Here is a simple calculation to make $1 million online.
250k people spending $4, or 100k people spending $10, or 50k people Spending $20 or 10K people spending $100 or 1k people spending $1000 you will be having $1 million in your account.
If you can find few people to buy from you in next few years you will be Rich 🙂
Here are the 6 different models to start your online business.
- Software and Apps
- Physical products ( Ecommerce and Dropshipping business)
- Advertising (Blogs, Video channels, Social Influencers, and more.)
- Affiliate marketing (Commision based business, best in my opinion if you find something extraordinary like this where you will earn up to 3 levels and get a Multistream of Income option with this.)
- Coaching (1 on 1 training and more)
- Online courses (Video Courses, Training courses online )
It is not that much easy to set up an online business if you do not have a prior knowledge as there are so many things require to get it such a traffic, audience, launching products etc. but it all can be done if you get a good resource like this which actually teaches you for fishing and give fish to your hand directly.
Online business is a kind of business which you can easily automate.
This is going to pay you while you sleep.