A Sound Investment can create a fortune:
But not everybody can pull it off. The reason? Success doesn’t only depend on available capital and dedicating enough time to research.
In a word where everything is everything is going online or mobile and in a period where change is faster than ever, the scarce commodity seems to be a disciplined and structured approach and the right education.
The financial education seems to be the secret sauce: It's really crucial that you always make informed decisions. There is a lot of jargon's and new concepts out there. Making the right choice of selecting the ones which are relevant and applying them in a disciplined way requires you to first learn about them.
If you have plans of getting into the business, you need to have some detailed planning or else, you are able to lose all your hard-earned money to nothing.
But what is it that you should learn? Let’s start from your needs. Let’s say you want to get into real estate: You can use Internet as a starting point. Let’s say you are looking for a new property in your area. Take time to research on average prices of properties and where they are going.
Ideally, this exercise will lead to a list of things you should do: If the properties which are newly renovated and have a modern style sell better, your tasks will definitely include renovation. Try to get estimates for every task.
We tend to be optimistic most of the times: Try not to be optimistic when it comes to the planning of the tasks. Things will always costs more and take more time than expected. So if you don't prefer to end up cutting your budget and compromising quality of the work along the way, forever set your estimates on the high side.
Internet is huge and complicated; but it can also help you
Every day, we read about the new millionaires and billionaires who created their empires because of Internet. This might be a good area of investment for you too.
But quite frankly, most of the individuals running businesses online have very inadequate sites. Many people who run popular websites are not capitalizing on their traffic by monetizing it (this could be by choice or ignorance).
Making a profit might be as easy as applying a smart Google advertising campaign on a popular site after purchasing it from an owner wishing to move on to other things: You put Google Ads on the site and share the profits…as simple as that!
Maybe an e-commerce site could use some search engine marketing or some fine-tuning to an AdWords campaign – the name of Google ad revenue sharing system - may do the trick, or better still, monetize, optimize, affiliate and up sell for maximum gain – capitalize on all the marketing tricks at your disposal.
Getting wealthy is simple
If you want to get rich, you need 2 key principles. The single most crucial one you'll ever hear about is: Getting rich is simple…
Not easy, but simple!
And here is the second one: you've no excuse not to do it.
Having these principles in mind, you need to the right ingredients. There are 4 of them: Income (Capital), Time, Discipline and Education (Knowledge).
Chances are you have the first ingredients are needed: income, discipline and time. Chances are, you already have the first 2 already. All you need to do is to be more disciplined and be willing to learn.
Sure, investing is always risky: If you want to invest in stocks, there's always the chance the market will go nowhere for the next twenty or thirty years and you'll end up no better than where you began.
But the cold reality, like it or not, is this: The fate of your retirement, your comfort in older age, could probably dwell in your commitment to the 2 key principles of successful investing and its 4 main ingredients. For most of us, wealth creation is a slow and steady process. The tortoise almost always beats the rabbit.... so make sure to take your time to learn and accumulate the right knowledge.