Wealth is the one thing whose demand never diminishes, money is your next meal, clothes, a house, comfort, it is status… you name it!
As unemployment and the poverty level around the world is rapidly increasing, one of the most frequently asked questions in this day is “how do I make money quickly? ” or “how do I make money easily?”.
It is a fact that these questions are asked because people are not content with staying on the last rung of the ladder (which is a good thing because every great feat begins with not being satisfied with the way something is ), however, we cannot underrate the massive damage that “quick and easy money” has done to our society.
Legally, creating wealth that’ll last, is a gradual process, “quick” and “easy” should not be the drive.
It is a fact that most well known millionaires and billionaires are owners of businesses that started from almost nothing, but grew into empires.
Starting a business is not magic nor some super power, it is a dormant potential in every human that knows a problem when he/she sees one.
This article does not contain all you need to know about starting a profitable business, but it does contain a few essential requirements for certain breakthrough listed and briefly explained below:
1. ACQUIRE A SKILL
You have to admit, white collar jobs are pretty hard to come by these days. So guess what’s really trending? SKILLS!
It might not seem like much at first, but getting a skill really pays off. Be sure to get one that is always in season though, skills like copyrighting, digital marketing, graphics designing, web development, mechanical engineering and so on
2. BE CREATIVE WITH IT
So you are a caterer, for example, you’re good and skilled with anything edible, including its design, it is not enough to know one way of catering, think of better ways to further expand your chances of success in the field other than what’s already existing, see opportunities and take them, create one if there seems to be none. Be innovative, sticking to the same old methods will not avail much as the tides are changing and the needs of people along with it. Think of new ways to revolutionize the business you’re into or the skill you acquired.
3. TAKE CALCULATED RISKS
This is a critical aspect of starting and growing anything, uncertainty. Not knowing the result of putting your million into some business venture will probably give you cold feet, but taking risks is a prerequisite for making money.
Doesn’t mean all risks should be taken though.Take your time to analyze what has a higher chance of productivity.
4. PATIENCE IS A VIRTUE
As earlier stated, making money is a painfully slow process, at some point nothing will appear to be working, Returns will diminish, prices will hike, competition might get tougher, and if you’re not prepared for this it could bring down all you’ve ever worked for.
Be patient, don’t get tired of trying or waiting.
5. BUILD SUBSTANTIAL RELATIONSHIPS
In other words, ’Connections’. Investing in and with people could end up being an essential risk to take.
Build relationships with individuals, customers and clients, other enterprises and whosoever will be there for you, should you need them.
6. CARRY THE RIGHT CONVICTIONS
Beliefs are one of the many things that make successful people, this might seem superstitious and seemingly a waste of time but carrying the right convictions can be an added advantage in making money and maintaining the top position in a competitive market.
For instance, the right conviction can make you patient when others run Helter skelter looking for easy and quickly fading money.
7. KEEP UP WITH MARKET TRENDS
This is when the trading market responds to the ups and downs of the prices associated with investments and securities. The terminology that applies to a market trend is “bull” or “bear.” Keep tabs on the changes that might occur as a result of market trends, this knowledge could mean gateways to opportunities you cannot afford to miss.
8. ARE YOU IN THE RIGHT PLACE?
All that time taken to plan and all the capital sunk into a business will not avail much if you’re selling the right thing in the wrong place or to the wrong people.
Find a location that suits your aspirations. The best way to achieve this is by identifying a problem, need or want In a particular place. If you can find a solution to them and efficiently deliver it, then one can say you are in the right place.
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