Simple Ways to Wealth

“Wealth is simply cash flow from other sources”-Brian Tracy.

If you want be wealthy, you must understand what wealth is. Wealth is simply abundance. It is having more than enough to meet all your needs and at the same time helping others to fulfill their purpose in life. If you are rich and your riches have not been of blessing to anyone except you and your family, then you cannot be referred to as wealthy. Wealth is a more advanced form of riches. It comes to you mostly when you have income coming to you from various sources.

How to become wealthy
Diversify your income base.
Since, we define wealth as cash flow from other sources; there is wisdom to be a multi-product businessman. You need to have various income sources. The danger involved in selling a single product is challenging enough in this part of the world. In order to reduce your business risks diversify your product base.
Diversification in business is simply to vary the range of products and services in order to be more competitive, reduce risk, and to increase income. If you depend on one source of income alone in this economy, you are not prepared to be wealthy.

Make You Money Work for You
You are not wealthy just because you are earning a lot of money every month. You are only wealthy when your money is working for you through your investments. Have you ever wonder what will happen to you, if your employer asks you to resign your paid employment immediately? Will you be able to sustain your present lifestyle? To become wealthy therefore, your main duty is to convert your hard-earned income into investment channels. Never leave your money idle, invest it on something profitable. Fill your mind with genuine and honest money making thoughts. After all, the Bible said “money answereth all things” Ecclesiastes 10 vs. 19b.

Add Value Continually
The key to creating wealth is simply. It is “adding value”. Successful and wealthy people have a peculiar mindset. They are always looking for ways to add value in some way to a person, a company, a product or service. You need to be value driven continuously in whatever you are doing. It is the value that you add that will bring you profit. Some ways to add value is to provide your services faster then your competitors.

Excellent service delivery in whatever business you are in is one key to increase you turnover and consequently your profitability. If you can touch your customer’s heart, you will have a fair share of their pockets. You can also develop your product to the highest standard obtainable in your industry; after all, improvement is a continuous exercise in the business world.

Buy low and sell at a premium
The secret to making money through speculation is to buy low and sell high. This strategy can also be adopted for business gains. Look for the place where the products you are selling are cheapest, without compromising quality. Buy and take them to places where they are scarce and you will be able to sell at a premium.

Improve the life or work of others.
All manufacturing and marketing is based on this principle of added –value.
Performing a service that enhances the life or work of another person add value. A marketer or sales person who introduces a new product or service to a customer in some way is adding value. All financial success, especially business is saying, “Find a need and fill it”.
Moreover, all successful business is based on someone or some people bringing together the factors of production, such as labour, capital, raw materials and management, and creating a product or service that customers will pay price which is excess of the cost of production.
Look for ways to add value to what you are doing everyday in every way. Never be satisfied with the starting point of a great fortune. You will succeed.

Simply ways to wealth ( 2)
Wealth is a product of inspirations and efficient actions.
It is also a product of time and chance.-Anonymous"

According to the late Wallace Wattles, “if you want to be rich; you must not make a study of poverty,” rather, study wealth and how to become wealthy in an honest way. If you want to stay healthy don’t embark on the study of sicknesses and diseases, you only need to concentrate your mind on the things to do, that will make you healthy. The message he passed across before his demise, is that, we only need to concentrate the thoughts of our quest for knowledge on what we intend to accomplish in life, and not what we don’t want.
The problem with must economically challenged people is that they find it hard to think of the kind of life they want to lead and the actions they need to take, because of their financial limitations. However, it is only when you expand your horizon that you can live a fuller and more complete life. When you dwell too much on what you don’t want, because of the unpleasant happenings around you, there is tendency that the status qeo will persist longer than necessary. But, if you strategies with determination to come out of your challenges, you will eventually brake-free. If you can increase your knowledge about wealth and health; the tendency is you will become wealthy and able to stay healthy.

Be thoughtful
You are basically what you think about. The dominating thoughts inside of you are what will manifest outside. You cannot be thinking poverty and expect to be wealthy. Neither can you be thinking wealth and prosperity that is backed up with corresponding efficient actions and remain poor. Thoughts are magnetic. You attract what you think about most of the time, and your actions are results of your imaginations. If you understand this sequence, you will begin to guard your thoughts and watch your imaginations. Remember, it is the positive imaginations of your heart that determine the answer from the Lord. Use your mind to form a clear mental image of the kind of wealth that you what, and hold to the vision with persistent purpose. You need to device a genuine way or ways of how you intend to achieve your financial vision or goal so that it will not remain a day dream. Never allow contrary situations dissuade you from holding on to your financial goals. When you expand your horizon, your situation will eventually change, to conform to your new thinking. That is how development evolves on the earth. Growth and development are products of expanded thinking. Work towards attaining your desire with the believe that you already attaining it and you will be surprise how “infinite intelligence” will help you move further and faster.
The very best think you can do for yourself is to make the most of yourself and be very successful, because your success can inspire others who started the race with you on the same level.

Seek Counsel
The best people to advice you on how to become wealthy are the really wealthy people who made their money in honest ways. If you cannot meet them one on one, study their biographies and look at what they did to break out of poverty and what they are still doing to stay wealthy. Wealth is a product of doing what wealthy people did, and experience is the best teacher in life. According to Richard Templar, wealthy people read the more serious newspapers and the more serious sections. They read the money/business and investments sections first in any newspaper they pick. They are eager to know the latest developments in the money and the capital markets. You need to develop such consciences if you are serious about making money.
The other set of people who can help you plan your finances in your quest to get wealthy are professionals. Some people are trained and knowledgeable about money matters; seek their counsel, but cross check their facts and advice. It is better to seek the opinion of three financial advisers before taking a major decision. By so doing, you are building your financial acumen and soon you will be better informed on how to take the best decision on your investments. The earlier you start doing something serious and positive about your finances, the better for your future. You are not a poor person until you stop trying to become wealthy in an honest way.

Pay-of your debts
Make plans to offset your debts starting with the ones with the highest interest. Then stay out of debt, except if you are borrowing to finance a business or an investment that is most likely to generate income that will cover interest cost and still leave you in the profit zone. Weigh the risk/reward ratio before plunging into debt. Curtail frivolous spending and channel more of your income into profitable investments. Avoid the buy now, pay later syndrome and stay clear of credit cards, unless it is absolutely necessary.
Finally, be disciplined. A disciplined lifestyle is the starting point of a successful financial future. Without a discipline mind, you cannot practice what you have learnt. A disciplined spending pattern is a sign of seriousness to attain wealth.