WHAT ARE THE KEYS TO BECOME WEALTHYsteemCreated with Sketch.

in #money7 years ago

I will keep it short, but this is a tested, sure way to get wealthy based on my personal experience and people I coached to wealth. It's not easy but eventual.

1- No Debts.

2- Improve on existing successful products if you are not creative enough, or make an amazing product/service with subscriptions if possible (will be easier to sell your company later). Target mass consumers and aim for a big audience. Forget about businesses. Statistically you will have better chances targeting as many people as relevant to your product or service.

3-Keep it simple (micro if not nano small and grow organic).

4- Spend more on advertising and sales than anything else. It always pays off and keep growing that spending by adding advertising cost to bring 1–2 more customers so if it cost you 10$ in ads to bring one purchase add 20$ to your price. Read about sales funnel.

5- Spend bare minimum on yourself. The rest goes to a savings account or an investment account in the bank.

6- Pick something you are passionate and knowledgeable about to keep improving your products but don't confuse customers with different pricing models. If you have success on one model, stick to it and if u have a better model open a second store with that new model with different name.

7- Sell that business after you start a new one with success.

8- Buy tiny real estates everywhere and take rent with your savings and sale of your business. Let a pro management company manage your properties so you can focus on your business.

9- If you fail, don't give up. Failure is an investment with compound interest. Repeat.

10- No debts so you can repeat quickly in case of failure.

It will be a hard, painful, and stressful process but in 3 years you will make your first million; in 5, multiple; and in ten, tens to hundreds of millions.download.jpg

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