How can you make money? You can make money by using your energy or by using other people's energy. You can work for somebody or start a business.
If you are starting a business, you need to watch out for the following:
- What people want that has not been given to them or what has been given but poorly served.
- Information generation, offering people better products and services than they are receiving presently.
- Investments, putting part of your income where it can generate profit.
- Combination of two or all of the above.
To achieve this, you need to make savings a habit.
Don't eat your seed. At least 10% of your earnings is to be kept safe. You have some level of confidence and satisfaction when save. How good you are at keeping the 'little' will determine whether wealth can be entrusted into your care.
Savings can be used to do business. Learn the business you desire.
If you own a business, place yourself on a salary. Set aside a time to study the profitability of your idea. Don't just belief in luck, you need facts and figures. Don't start in an unfamiliar industry. Carry out research and prove your idea. Relate with people who are already established in what you want to do.
Set your wealth target
Vision is useless if it does not direct the action of the visioneer. Vision should lay out the destination and guide the business strategy. Where do you want to be in the next 12months, 3years and 5 years? Forecast your periodic wealth target.