Build Wealth with Opportunities You Can Duplicate

bitdollar (60)in #life • 7 years ago (edited)

Are you looking to build wealth and lots of it?

You should very well consider looking for opportunities that you can duplicate over and over again.

Find systems or businesses that can be proven to work and be applied many times over.

If you look at any very financially successful people, they are involved in incomes or businesses that they can duplicate and scale up into massive proportions.

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Why McDonald's Became So Massive

After reading the book grinding it out, the story of Ray Kroc and McDonalds, it confirmed big time how it takes a business model that can be repeated so you can scale up into huge numbers.

Ray saw a business that was successful and knew it could be applied into any market place. That is exactly what he did and created one of the biggest corporations of his times and to date.

Great Example of a Proven System

This is exactly why my core business and focus is in real estate and more specifically multi-family real estate projects.

Multi-family is one of the most proven assets in real estate to stand the tide of housing booms and busts in the market. It is much safer than any other real estate ventures because you have multiply renters that can offset any small vacancy that can occur. With a single family home renter, when it is vacant you will be taking losses as you wait for a renter.

You do not need to manage it yourself because the volume of business can allow you to pay a management team without breaking the bank or diminishing your profit returns.

Now once you get one property set up, which can be millions of dollars, you can move on and set up another project.

You can very well set up hundreds of millions of dollars in real estate projects without having to lift a finger. It is not easy and you will have to work at it but the opportunities are endless. This is what you need to look for to create massive amounts of wealth or just wealth in general. Having income come in while you sleep and being able to continue to grow it, as wealth is not built on small amounts.

I just give this as an example to explain what wealth is really, a system that needs to be behind it, and that you want it to be on a large scale.

There Are Many Systems That Work

You can apply this to many different income sources these days. I very much want to get involved in building a website blog that has products and services that eventually can be ran by employees.

Once you know the ins and out of how to set up the website, get attention with customers, know your market to bring value to those customers it can be a very profitable venture. Once you have proven to do this with one website you can make another and apply the same system to a different market.

Is It a Wealth System?

When I think of musicians and entertainers that are very well off, it is almost the same idea. They have the skills and their own system to get on stage and perform almost whenever they want and bring in a nice chunk of change. The only difference is the business relies completely on them having to perform. Once they have a problem where they can’t show up, the system is broken and therefore it is not a wealth system.

This is the very reason why I gave up day trading. I was making great money but I had to show up each day and work. (Not that I don’t want to work or have a low work ethic, always want to build and grow more) If I get sick, my mentality is off, no more money comes in anymore. It is at a complete halt and stand still. This is setting you up for a disaster.

Money Does not Equal Wealth

You can make lots of money today but it could be gone tomorrow, no matter how much it is. This is why you want to always have new money coming in to protect you and to be able to create massive amounts of wealth that then can continue to be compounded in to multitudes people can only imagine. This is the very reason Warren Buffet is so fragile with money, continues to reinvest it and why he is one of the richest people on earth.

Find systems that you can duplicate, delegate to other people to run and continue to expand and compound you money. We all need money and it gives you the freedom and choices to do a ton not only for yourself but tons of people on the planet.

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@bitdollar

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