1.It All Starts With Mindset
You need to have the correct mind set when you start out Getting rich isn’t an overnight thing you need to tell your self on a consistent basis that you are going to find a way to make this work, the best way i’ve found to do this is to define my why. This simply means Define why you want this, mine is mainly to have more time to do the things I want to do with the people I want to be with, this will be different for everyone but make sure your why is something that will consistently keep you motivated.
You may also even choose to change the people you associate with as the people you spend time with have an impact on the way you act, you should try to be associated with people who want the same out of life so you can all help to motivate each other and all continually move forward together.
2. Learn As Much As You Can
If you don’t have much money to start with go for the free route and watch all the videos you can on YouTube related to business, finance and investing. If you have a bit of extra cash invest in some books this will depend on what you want to do but I would recommend that everyone checks out Rich Dad Poor Dad this is probably the book that has had the biggest impact on my mindset ,so I would recommend it for anyone.
However don’t get too caught up in this once you understand the basics you need to incorporate action as knowledge without action is nothing, this is one of my biggest regrets as I spent a year researching investing before I even brought my first stock I wouldn’t recommend waiting that long.
This leads on from my last point and just take action on what you plan to do don’t overthink this it doesn’t have to be the perfect idea you just need experience in starting something once you’ve taken action on one thing you will realise that doing this again isn’t too bad, just making at start is one of the hardest things i’ve personally found you will have a million reasons not to start ,but your why as mentioned earlier should always push you to push past any doubts you have and give things a try.
4.Create Your Own Product
I would personally recommend you create your own product preferably a digital one such as an e book or a course on a topic you have a lot of knowledge about the reason I suggest you go for a digital product is because its something you can run from anywhere in the world and its easier and less costly to scale. You might ask how will I sell my products, well I would recommend you start theme pages on instagrams in the same niche as your product and or a YouTube channel in the niche of your product these two platforms are something we should be taking advantage of as its a way for anyone to promote there own service or following, this following will help you produce a long term income and is an easy way to get even more streams of income such as affiliate marketing, shout outs and pretty much anything else you can think of , even with a relatively small following of around 10,000 you can make a substantial income.
However I do understand this isn’t for everyone so if you create a product you can easily promote it using other peoples followings by paying for shoutouts or by paying for space on someones YouTube description which definitely can yield very good returns.
5. Reinvest Your Returns
one of the keys to exponential growth is to reinvest everything you make or as much as you can this can be either into the business for this such as making a new product or paying for more promotions or you can invest into investment vehicles such as stocks, crypto and real estate these will make money for you meaning you can make more money which can again be further reinvested.
I personally try to stick to reinvesting 50% of my income into income producing assets and I think this is something everyone should try to aim for if there serious about becoming rich.
This isn’t the only way to get rich but its the method I’m working with its important to realise anything in business or investing takes time so stay consistent and keep working towards your why.