Top Secrets of Wealth Building in 2016: 4 Ways

Relatively we are in a new year. Each and every one of us has the potentials to get rich faster than we can ever imagine in this brand new year. It is possible; it only takes genius and doing the right things.
In this post, I am going to explain top 5 secrets of wealth
building which we can apply in 2016. Becoming a rich fellow entails doing these five things:

1.      Go to work early
In few occasions, I have been given the privilege to speak. I have taught these principles. I learnt them, and they were useful as well. Most people really desire to be rich, but not all actually succeed. The reason is simple.
Your desire and work towards success must be greater than your fear of failure. Irrespective of what most self-help books say, you will never become wealthy simply by wishing it or via positive thinking only.

Developing a good mental attitude is good, but it is insufficient. It doesn’t guarantee overnight success. To become rich, you must be miles ahead of your competitors. This entails:
·         going to work early
·         learning new useful skills
·         making extra contacts
·         sending an impressive reports to your networks, and
·         writing an impressive memo etc
You must master the popular slogan, ‘early to rise’. Essentially, it is designed to make you become richer than you can ever imagine. You may have different goals in life, but you must take one step at a time, there are one week goals, two months goals, one year goals, five year goals and so on.
 Reducing them into smaller ways will enable you to get closer to your ultimate goals. Just take one step at a time. I know this works, because many people under my mentoring platform are already benefitting hugely from this.
2.      Earn above-average income daily

The question most people ask is ‘what is above average income? Based on the current economic reality, if you are making below $50,000 annually then you need to work harder or change your work pattern. I know this is a big target to most people, but it is not impossible. You will get richer if you keep on strategizing on how to boost your income and live happily.
3.      Develop a financially valuable skill

This is a skill that contributes to the profit of the business. Not every business skills are regarded as financially valuable. Your business must create avenues to maximise profits. If you are not making profits after servicing the workforce, then you should re-strategize. We will still talk about this in future.

4.      Investing is the best way to get rich

If you are the type of person that earns above average income, and at the same time doesn’t go about buying things you don’t actually need, then you will have enough money to invest. Investing remains the surest way of making more money. It remains one of the best ways to gain a higher-than-average return on investment (ROI).

If your job is not giving you job satisfaction and you are not making enough to take care of your basic needs, then you really need to quit. If your salary or wages are insufficient to take care of your basic needs like food, shelter and clothing, then how long will you continue to wait till you make the one that will take care of other needs, and then the one for investing? I am very realistic; you need to take the bold step now.

Entrepreneurship is good that you really need to start small, and grow gradually afterwards. Biblically, we were taught by the ancient of days that we shouldn’t despise the days of our humble beginnings.

I believe in developing entrepreneurial mindset. Even if you are an employee in a firm, where you are guaranteed of a steady income, you still need to be working hard in developing your own business because anything can happen.

Though I am currently working in a firm, I dedicate my time, talent and treasure to work effectively, I also have a ‘side business’ which I can work on weekdays evenings or weekends. It is not taking my attention from the full-time job i am doing at the moment.

No matter the job you do right now, there are few side businesses you can engage yourself with such as working as a real estate consultant / agent, freelancing, consulting etc. I will still talk about these opportunities in future writing.

By Ethelbert Obinna Umeh