How to Build Your Wealth From Scratch

HOW TO BUILD YOUR WEALTH FROM SCRATCH

(Easy Procedures to Help You Build a Lasting Wealth)

By Abdul Hamid Adeniyi Otule

According to history, it remains a fact that the human societies had transformed or experience a revolution from a classless society to a society that is characterized by the heavy presence of class or categories of people based on their status just as we have the Upper class, Middle class, and the Lower class. Many fail to realize the fact that we are now in the era of information age meaning that information seems very important for us to thrive and achieve greater heights in this present world.

Without deviating from my set of principles, aims and objectives of writing; I like to once again appeal to our esteemed readers on my commitments towards contributing positively to the development and advancement in our quest for a peaceful and healthy environment. We are committed towards contributing socially, educationally, morally, spiritually, politically, and exploding the myth we need to earn a high income so as to be financially free.

Everyone can have money and be rich and financially secured or as well as chosen to be financially free in whatever decision we make. We are where we are as a result of the decision we make which is why I suggest we make the right decision today so that we don’t live to regret tomorrow.

The main objectives of this article is to you expose to you our esteemed readers tested and proven procedures or steps to completing a wealth creation from having nothing to becoming wealthy.

Furthermore, I discovered that from the seminars that are being held or run or held. Most people are looking for how to get rich quickly forgetting that wealth creation demands transformation from one place to another. For example if someone organizes a seminar and the theme is ‘How I Made Two Million Naira in 24 hours with Zero Capital’. I can assure you that the door of the venue will breakdown because people want to make money quickly without following procedures or protocols.

Moreover, if I organize a seminar and the theme is ‘How to Make Lasting Wealth from the Internet’, the number of attendance will not be as much as it were for the previous one. The poor are destined to make the rich richer unless they take time to change their mindset about money and wealth.

Always remember in everything we do that your mindset determines your future. Do not belong to the class of people who believe there is a shortcut to wealth. Getting money by all means and by everything attitude is an anti-wealth building attitude. Wealth only comes to people who follow a procedure or process.

In addition, wealth transformations or procedure is a procedure or stages for which wealth appears to be in your hand just as the title sounds; these are the stages which money runs through your life.

I am equally committed to exposing you to stages of wealth in your life. While some people have wealth cycle others have poverty cycle.

Before we begin let ask by saying what is wealth cycle? Instead of getting confused wealth is not money but includes money. One can be rich without being wealthy but you can not be wealthy without being rich.

Literarily, to be rich means to have money but to be wealthy means to have money plus some essentials like God, rest of mind, good health, tangible valuable things like assets etc. anybody can make money from fraud but the truth remains that they rarely have peace. One important fact we must acknowledge is that wealth is built and not made. You can make money but can not make wealth. Anytime wealth is built, it’s either you build a business or career. If you build a career, you do not build a business. However, the experience from the career can be useful if you now want to build a business. Being wealthy in life simply means you must have followed processes of building wealth in life. Five basic procedures or processes have being laid down for you to follow diligently. With the view to explain better I will try to give brief explanation of the stages passed through to becoming wealthy.

First procedure

This stage demands that we find the rhythm within us on what we feel we can do for a living not forgetting that you do not have any money at all. Everyone in this life passes through stage one and no one is given birth to with a bag of gold coins in his or her mouth which means we must all pass through this stage whether school graduate or not but we are not expected to die at this stage.

Second procedure

The stage require that we start small, many do not want to start small especially most school graduate even for a career one is expected to start small which means you are not mandated to get a job worth N150,000 per month as a a starter. Anyone driven by the desire to be wealthy need to start small, but it becomes a crime staying small. You are advised to start small until it starts generating enough cash flow. Remember the saying ‘Rome was not built in a day’. Many cyber crime perpetuators try to skip this stage. Some take to 419, others deception or robbery. The truth is anybody trying to jump this stage is jumping into problems.

Third procedure

This stage entails you struggling to create wealth while you struggle to invest your life, money, time, skills and everything in your business or career. Remember that wealth creation is simply the ability to produce a product or services that is sold to the market above the total cost of production. The moment people are willing to pay at a price that is in excess of your total cost then wealth is being created and vice-versa. The fundamental way to succeed at this stage is finding the need of the people or market and filling it. Then you start fixing your product or services to take position of leadership in the market. Another area of importance is consumer intimacy. Developing a good relationship with your customers is one that is highly good for the business which includes technological advancement, enhanced in delivery of products or services to customers. Try lots of strategies before finally choosing a better one that is cost effective, efficient delivery, and better customer services so as to compete along with your competitors.

Making your price attractive and cost effective is good in the long run. At this stage you keep working on method and systems which require you re-investing your initial profit until you establish the best method that works for you. Then you will discover you have started having more than enough.

Fourth procedure

This stage is simply when we have enough; it is the stage when income is being put aside for the future while you are also building your reputation. Your Goodwill in the market determines how marketable your product is or will be. The friendliness of your staff and the ease of doing business with you is a key part to proving your credibility and people will see you as trustworthy and dependable.

You should be able to answer questions like what does your product achieve for your customers? What does your product help your customer to avoid? What does your product help customer to preserve? How does your product help your customer to get better results in his or her life?

Fifth procedure

This is everybody’s desire and getting to this point is not the big deal but staying there and not reversing or drop back to the initial stage.

I want to tell you that it is easy to be a millionaire but hard to stay and remain a millionaire. For me what I do and advice people is to read more financial materials or books, invest more on realistic things, build relationships, develop a good and strong frugal spending attitudes.

In conclusion, following this procedures I have laid down for you, I believe that increases your chances of not just becoming rich but being financially free.

For more information, questions and comments send it at http://myinvestment101.blogspot.com, http://employeesproductivityguide.blogspot.com

I wish you best of Luck.