Six Decisions You Need to Make to Get Rich
| Category: Home Based Business - is it for YOU? | Date: 2003-06-17 |
Step One: Decide to Be Rich
"The only difference between the rich, poor and middle class, is the kind of lifestyle they want. You don’t have to be psychic to tell a person’s future. If you listen to the words a person uses they will tell you their future."
Words are a person’s most important tool. I believe that the words we speak and the words we think ultimately become the world we live in. Just as the Bible says, "the person that guards their lips guards their life, but they that speak rashly will come to ruin". And "Death and life are in the power of the tongue".
Listen to different people’s words. Youll notice that poor people often say: "I just want enough money to pay the rent.""I need a few dollars to get to the next pay day.""After I pay my bills, I dont know how my family can afford to eat." People who used words such as these, often focus only on financial survival. Generally a person who thinks or speaks words such as these are constantly fighting for financial survival, regardless of how much money they make. The middle class use different words because they have different ideas about how to use their money:" "Our home is our most important asset and our largest single investment."
"We’re setting a few dollars aside every month, so we can afford the down payment on our dream home."
"We’re saving money for our children’s college education and our retirement."
Youll notice that the middle class focused on comfort. That is why so many of them say, "I don’t want to be rich. I just want to be comfortable."
"The rich are rich because they are not focused on day-to-day short-term survival, or the expense column as the poor are. Nor are the rich focused on comfort and the acquisition of liabilities using credit, as the middle class is. The rich are rich because they focus on the long-term acquisition of assets..assets such as stocks, bonds, businesses and income producing real estate. Many times the rich will forsake meals, a steady
pay cheque, a vacation, or the comfort of a nice home, to build or acquire real assets." So decide to be rich, even if you are broke and penniless today. there is a difference between being poor and being broke. Poor is a state of mind where thoughts such as "I can’t afford it" or "Live below your means" come from Being poor is eternal but being broke is temporary.
I think its important to explain to you the difference between Be-Do-Have. "Be" is the most important part of the three word formula. Most people want to "Have" what the rich have, but they often are not willing to do what the rich "Do" to have what the rich "Have". So whether you have money or not, it is important
to "Be" rich if you decide to do so, which means being willing to make being rich more important than merely surviving financially or being comfortable.
Step Two: Decide What Kind of Money Problems You Want
There are only two kinds of money problems: not enough money or too much money. Unfortunately, the kind of money problem most people know is not enough money. "Most people know how to work for money, but they do not know how to have people and money work for them." Most people, when they receive any excess money, spend it foolishly or just park it in the bank. So decide what kind of money problems you want.
Step Three: Write Your Plan and Follow It
After choosing between being wealthy, poor or middle class, and then choosing between too much money or too little money, it’s time to write your plan. If you have chosen to be financially independent, even though you are broke today, and have decided to have the problem of too much money, read on. If you do not plan to be financially independent, then you need not read any further.
Here are a few basic goals:
1. Change the characteristic of your income. Start a part-time business.
2. Change the characteristic of your expenses. Convert personal expenses into business expenses.
3. Place your business inside a legal entity.
4. Have your business buy your assets.
5. Harness the power of reinvesting.
If you’re willing to be a little uncomfortable to become financially free and retire early, develop your plan - even though you may be broke, but not poor, today.
Step Four: Choose Your Friends and Partners Wisely
One of the reasons the rich get richer is because they spend time with other rich people. It is important to know if a person’s aspirations are to be rich, comfortable or simply survive. Friends who merely want to be comfortable or survive will not understand why you want to be rich and may unconsciously pull you down.
Step Five: Give Yourself Time
It takes time to build a business as well as an investment portfolio. Building a business is not the same as getting a job. With a job, you expect to be paid soon after starting work. With a business, you may not be paid for years, if you are paid at all. That is why I recommend keeping your daytime job and starting a part-time business. It is said that 90% of all businesses fail in the first 5 years. In my opinion, there are two main reasons for this sad statistic. One reason is lack of education and experience. Business is not something you can learn in school. Business is a combination of formal education, experience and guts. The second reason is lack of money. We have heard the old cliche "Killing the goose that lays the golden egg". When starting a
business, many people kill the baby-goose before it’s old enough to lay the golden egg. In other words, most small businesses are undercapitalised, which means the new business owner tries to support him or herself and often a family on a business that is not yet up and running. So the business is drained of cash when it needs it most to grow.
Step Six: Start Small, Dream Big
Many people start small and stay small, simply because they have small dreams. In my opinion, big dreams are important because they possess ingredients vital for success: hope, desire, passion, energy, vitality, faith, drive, inspiration and creativity. These ingredients make life worth living. So dare to dream big. Dream of all the wonderful things this world and life have to offer. Write your plan on how you can have all your dreams come true and look at the plan every day. Talk to people about your dreams, even those who criticise them. Then use their criticism to make your desire even stronger.
© 2002 By David Batchelor
About the author.
David Batchelor has written numerous articles focusing on Tips, Strategies, Tools and how-tos for creating
the Ultimate Home Based Business. To Subscribe to his e-zine please go to:
http://www.netmarkpro.com/djb
david@7stepstowealth.com
http://www.netmarkpro.com/djb
"The only difference between the rich, poor and middle class, is the kind of lifestyle they want. You don’t have to be psychic to tell a person’s future. If you listen to the words a person uses they will tell you their future."
Words are a person’s most important tool. I believe that the words we speak and the words we think ultimately become the world we live in. Just as the Bible says, "the person that guards their lips guards their life, but they that speak rashly will come to ruin". And "Death and life are in the power of the tongue".
Listen to different people’s words. Youll notice that poor people often say: "I just want enough money to pay the rent.""I need a few dollars to get to the next pay day.""After I pay my bills, I dont know how my family can afford to eat." People who used words such as these, often focus only on financial survival. Generally a person who thinks or speaks words such as these are constantly fighting for financial survival, regardless of how much money they make. The middle class use different words because they have different ideas about how to use their money:" "Our home is our most important asset and our largest single investment."
"We’re setting a few dollars aside every month, so we can afford the down payment on our dream home."
"We’re saving money for our children’s college education and our retirement."
Youll notice that the middle class focused on comfort. That is why so many of them say, "I don’t want to be rich. I just want to be comfortable."
"The rich are rich because they are not focused on day-to-day short-term survival, or the expense column as the poor are. Nor are the rich focused on comfort and the acquisition of liabilities using credit, as the middle class is. The rich are rich because they focus on the long-term acquisition of assets..assets such as stocks, bonds, businesses and income producing real estate. Many times the rich will forsake meals, a steady
pay cheque, a vacation, or the comfort of a nice home, to build or acquire real assets." So decide to be rich, even if you are broke and penniless today. there is a difference between being poor and being broke. Poor is a state of mind where thoughts such as "I can’t afford it" or "Live below your means" come from Being poor is eternal but being broke is temporary.
I think its important to explain to you the difference between Be-Do-Have. "Be" is the most important part of the three word formula. Most people want to "Have" what the rich have, but they often are not willing to do what the rich "Do" to have what the rich "Have". So whether you have money or not, it is important
to "Be" rich if you decide to do so, which means being willing to make being rich more important than merely surviving financially or being comfortable.
Step Two: Decide What Kind of Money Problems You Want
There are only two kinds of money problems: not enough money or too much money. Unfortunately, the kind of money problem most people know is not enough money. "Most people know how to work for money, but they do not know how to have people and money work for them." Most people, when they receive any excess money, spend it foolishly or just park it in the bank. So decide what kind of money problems you want.
Step Three: Write Your Plan and Follow It
After choosing between being wealthy, poor or middle class, and then choosing between too much money or too little money, it’s time to write your plan. If you have chosen to be financially independent, even though you are broke today, and have decided to have the problem of too much money, read on. If you do not plan to be financially independent, then you need not read any further.
Here are a few basic goals:
1. Change the characteristic of your income. Start a part-time business.
2. Change the characteristic of your expenses. Convert personal expenses into business expenses.
3. Place your business inside a legal entity.
4. Have your business buy your assets.
5. Harness the power of reinvesting.
If you’re willing to be a little uncomfortable to become financially free and retire early, develop your plan - even though you may be broke, but not poor, today.
Step Four: Choose Your Friends and Partners Wisely
One of the reasons the rich get richer is because they spend time with other rich people. It is important to know if a person’s aspirations are to be rich, comfortable or simply survive. Friends who merely want to be comfortable or survive will not understand why you want to be rich and may unconsciously pull you down.
Step Five: Give Yourself Time
It takes time to build a business as well as an investment portfolio. Building a business is not the same as getting a job. With a job, you expect to be paid soon after starting work. With a business, you may not be paid for years, if you are paid at all. That is why I recommend keeping your daytime job and starting a part-time business. It is said that 90% of all businesses fail in the first 5 years. In my opinion, there are two main reasons for this sad statistic. One reason is lack of education and experience. Business is not something you can learn in school. Business is a combination of formal education, experience and guts. The second reason is lack of money. We have heard the old cliche "Killing the goose that lays the golden egg". When starting a
business, many people kill the baby-goose before it’s old enough to lay the golden egg. In other words, most small businesses are undercapitalised, which means the new business owner tries to support him or herself and often a family on a business that is not yet up and running. So the business is drained of cash when it needs it most to grow.
Step Six: Start Small, Dream Big
Many people start small and stay small, simply because they have small dreams. In my opinion, big dreams are important because they possess ingredients vital for success: hope, desire, passion, energy, vitality, faith, drive, inspiration and creativity. These ingredients make life worth living. So dare to dream big. Dream of all the wonderful things this world and life have to offer. Write your plan on how you can have all your dreams come true and look at the plan every day. Talk to people about your dreams, even those who criticise them. Then use their criticism to make your desire even stronger.
© 2002 By David Batchelor
About the author.
David Batchelor has written numerous articles focusing on Tips, Strategies, Tools and how-tos for creating
the Ultimate Home Based Business. To Subscribe to his e-zine please go to:
http://www.netmarkpro.com/djb
david@7stepstowealth.com
http://www.netmarkpro.com/djb
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