Ways to build wealth.
As we discussed, there are different types of wealth. We will discuss here the plans to help achieve that certain wealth. I was told in hair school that A goal without a plan is just a dream. Here’s my plan to build financial wealth and achieve my goal of generational security.
I have a love for hair and its upkeep so I have an idea to become a product distributor for the stylist in my area. Only problem is with the growing cost of living expenses it’s hard to gain capital to fund such a project. Wouldn’t be wise to use my earned income to grow my business. To grow wealth I’ll need to make some budget cuts and pick up another avenue of income.
After calculating my expenses I pledge to put away each payment on a weekly basis. For example let’s say my monthly expenses come to $1000. Pay your expenses off on a wk/biwkly basis. This will ensure I am staying afloat and sustaining my bare minimum. Eating out and leisurely activities will have to cease for at least 90 days. This will free up monies to begin investing in myself and put my plans into action. This formula is a simple one but can become as hard as aerodynamics if you don’t use discipline.
Plant a seed.
To grow anything, first a seed must be planted. To get apples I would need to plant an apple seed, so to grow wealth I’ll need to plant a financial seed. My cutbacks have allowed me to gain some seed money. I invested in myself and purchased a membership with wealthy affiliate. With this I will learn the game of market affiliation to earn a passive income. Now it doesn’t stop with just planting a seed of self investment. ACTION brings results, and consistency is key! Nothing is given all is earned! I feel the need to express the fact that “what comes easy won’t last, and what last won’t come easy!” Patience is key for growth. To plant a garden today just to expect harvest tonight is unreasonable. It takes time to produce fruitful fields. Taking it step by step I am learning what products do my area of stylist crave? What is in demand? What is up and coming? This research will consist of consumer Intel, trade show knowledge, and networking. Trade shows will introduce the products that are on the rise and what stylist crave, while consumer Intel will unveil what is being used at home. If I know what customers use at home I can furnish the product for establishments to carry.
Water your seed.
This is vital for ANY and ALL forms of life to thrive. Market affiliation is a great way for me to open my net to a wider range of customers. Learning how to build a website for the world to see is key to create a platform for product sales. Affiliation makes it easier to meet demand and not having to warehouse the supply. Joining wealthy affiliate is my tool to tend to my field of wealth in its beginning stages. I’m learning to build and maintain a website owning my own domain and selling products to a much bigger market than my surrounding area. having found this valuable tool to grow a brand I am on to give my field attention and steady tilling.
Deweed your field.
The most important part of growth is getting rid of wasteful material. This can be a challenge if you aren’t able to identify what is wasteful. Negativity can play a big role in lack of development. There will come times where quitting will seem the way to go. Or doubt will become the hurdle to conquer daily. This is where sharing your goals are important to be held accountable for the task at hand. Build generational wealth. I have written my goals down and hung them in the mirror of my bathroom. I have made a schedule to work on my platform and work it consistently. When the negative, doubting thoughts arise I am reminded of my goal and what it takes to get there. It also helps that my wife will tend to remind me of my goals and won’t let me slack. Using my surroundings as a support network will ensure my focus stays on wealth building.
Enjoy the fruits of your labor.
staying true to this formula will lead to a harvest well deserving. If I stay the course with consistency, learn as much as I can on Internet marketing, and get rid of wasteful thoughts it should be no time before seeing results.
So we know the “what” that drives me along with the “how” to get it moving. These are the steps I’ll take to begin building wealth. Figure out what’s driving you and how you will achieve your form of wealth. I would love to hear your thoughts leave a comment below to share your plan.