Getting a Tag of Millionaire is not hard
There are two types of people in this world, the 1 percent and the 99 percent. The 1% are the wealthiest people in the world. They have successful businesses Investments. But importantly, they have freedom to travel whenever by whatever they want and live life on their own terms. Then we have the 99%, those who may have To college work a full-time job. Some may even live paycheck to paycheck have very little and savings, and many aren’t in the best financial situation.
Now, if you’re reading this post, it is very likely that you are part of the 99% but you do want to become part of the 1%, but how did they do it? Seeing all those millionaires on Instagram showing off their houses, cars vacations, and anything expensive that you could probably never afford? Is it even possible for you to become a millionaire? Short answer, yes, but it’s far from Easy. The road to becoming a millionaire is lonely and over choir you to make many sacrifices but at the end of the road is complete freedom to travel.
How do you actually become a millionaire?
Well, first we do need to expose common money misconceptions that keep people from becoming wealthy and the first one is that you have to pay thousands of dollars to get a good education and then get a job. And a lot of people believe that this is the best way to become wealthy and successful and I don’t blame them since that is basically what Society taught us? Don’t get me wrong. I have nothing against working a job.
But if you are reading this post, I do assume that you want to become a millionaire and I’m going to be completely honest working a job is not the best way to get there. Now, let’s take a look at why working a job means that you have to trade, your time for money. And the problem now becomes that, there is so many hours in a day that you can actually work and to your income is always going to be capped at a certain amount. If you make $30 an hour working 40 hours per week, it’ll take you 17 years to make 1 million dollars from your job and that 2000 tracting taxes inflation and other expenses.
So realistically it could take you over 20 years to make 1 million dollars from your job. So you would have to sacrifice 20 years of your life that you can’t get back just to make 1 million dollars. While you could have done things differently and still made 1 million dollars without having to sacrifice 20 years of your life for it. So that concludes lesson 1, do not trade your time for money.
How young millionaires do this
So now you’re probably wondering how are the so many young millionaires done, and what did they do to get there? And why wasn’t I taught this? Well, think of it like this, if you want what most people don’t hop, you have to do what most people won’t do. And what is it that you are doing well? You just haven’t created a system that makes money for you, while you sleep. So how are you actually going to create this system? You are going to have to create a business around something that has demand & is scalable, unlike working a job with a business.
There is no cap on how much money you can make. If you work 40 hours a week, for 30 dollars an hour, your income is always going to be capped at a certain amount, but having a business that runs 24/7 without you having to be, there is not capped and you can make an unlimited amount of money. But now the tricky part is figuring out what type of business you want to start. And remember, if your business is a scalable and it’s not in demand, it is going to fail but a way you can Overcome this and satisfy. The market is starting a business that solves a problem.
Don’t think to build the next Airbnb
Take Airbnb, for example. It allows people to rent out a spare bedroom, easily and safely and make an income from it. It’s also really convenient and allows people who may not make a ton of money to still visit other places and of course, you don’t have to build the next Airbnb. There is thousands of businesses that you can start.
Start a most demanding business
You start a business around, something you actually enjoy, it, makes the process so much easier and that concludes lesson. To start a business around something that solves the problem and satisfies the market. If you want your business to be successful, read carefully to this part.
Let’s take a look at one of the most successful businesses Amazon there are over one hundred forty seven thousand people that work for Amazon but it didn’t start off that way. Jeff Bezos, CEO and founder of Amazon start all by himself, but he knew that if you want to grow his business and turn it into an Empire, he couldn’t do it all by himself. Which means that he had to pay money to hire people to help him. If you want to grow your business and grow, it faster. This is something that has to be done if we take a look at Amazon now it functions without the founder Jeff Bezos.
Even being present in this is the exact type of system that you have to build for your business. This way, you can focus on bringing ideas to the table and have your team grow the business, but your team has your back and you don’t have to do any of the dirty work eventually. You don’t want them to be involved with your business if you choose that route and you’d still have yourself a successful business that’s automated and runs without you being present that concludes lesson Three reinvesting in your business is necessary in order to grow and see success.
Every business pays you a salary
Now what happens next, once your business pays you a salary that you can spend, however, you like, are you going to buy a Lamborghini Rolls-Royce, or Gucci shoes? You should instead use that money to buy assets. Not liabilities liabilities. Don’t make you any money things like cars and clothes but buying assets makes you money, real estate stocks and businesses will make you money. And so it’s important that you first buy assets rather than My abilities but eventually once your asset like an investment in real estate can cover the expense of a liability such as Lamborghini, then it would be the right time to buy it and that concludes lesson for by assets before liabilities.
A lot of the information I shared with you so far was inspired by the several books that I’ve read and it would be a shame if I didn’t share those with you. And so I would recommend you read these four books in this exact order. That way, you can have a better understanding of business – entrepreneurship and Building Wealth. And I’ve also linked a business course in the description of the video. If you do want to learn how to start your own business using my exact strategies. Now, moving forward, since you now, have a basic understanding of Building Wealth and how to become a billionaire.
The next step is to actually take action.
99% of people won’t take action but the one percent who do will be rewarded. Something that stops people from taking action is unanswered questions. How do I start a business? What business do I start? What if I have money to start? What if I’m not smart? What if I don’t know anything about taxes. and it’s great that you’re asking questions because that means you want to learn more, but the truth is you’re never going to have all the answers.
In fact, running your own business means that you’re going to be faced with problems every single day and there really is no way to prepare for this. So the best thing that you can do is just get started and worried about the problems once they come off and the solution to all your problems can be found online. Now, if you watch this video up to this point and you realize that this is just not Not for you, that’s completely fine, running a business isn’t for everyone.
However, if you realize that, this is what you want to do with your life and you’re ready to take on a challenge that can change your life. I wish you the best of luck and never forget why you started in the first place. It’s not because you want money, it’s because you want freedom.