Why You Don’t Need Money To Be Rich

Posted: June 30, 2016 in Uncategorized
To a whole lot of people, the title of this post may be confusing. This is because the general perception we have about people who are rich is that they always were rich, or that they all started out with a whole lot of cash. 
However, it will interest you to note that more often than not, this is not the case.

For the purpose of this lesson today, we shall examine what the basic building blocks of success in business are. If I was to rename this article, perhaps it would be, “six steps to becoming rich”. Bear in mind however that this article does not promote a get rich quick scheme on making unlimited cash, but rather, presents you with a step by step guide on how you can build genuine and lasting wealth. Let’s get started.
 

IDEA

This is the first thing everyone who is serious about getting rich ought to have. The great inventions that have shaped the development of man through the centuries all began as ideas. In the early twentieth century, the Wright brothers had an idea that man could fly, and the result of that idea is a global multitrillion dollar aviation industry. The telephone, camera, sewing machine, television, Facebook, Ogbongeblog, Twitter, Konga and Tantalisers all started as ideas in the minds of their founders, and today, the seeds of these ideas have become huge financial behemoths that rake in huge revenues. So when next you have that idea in your head, know that you have the basic seed of becoming rich. No matter how outrageous it may seem, insofar as it is capable of solving people’s problem around you it is most likely a sure banker. The process of developing business ideas may be difficult to some people but for some, it comes easily. Whatever class you belong to, I recommend one basic foolproof way of getting ideas; simply look around you for a problem affecting a lot of people that requires a solution.
 
INNOVATION
Now you have an idea, then what? What is the next step on your quest for riches? I am quite sorry to burst your bubble at this point, but at this stage of our collective civilization, it is quite difficult to think up an idea that is totally new. What that means is that what you think you can do has most likely been done by someone else somewhere. However, that should not stop you from developing your idea. This is where innovation comes in. Innovation in business simply means offering your product or service in a way that is better than what is presently available. For example, in times past, the only way humans knew to shop was to go to an open market which was usually crowded and rowdy, someone thought it would be better if instead of markets we could shop in well-designed comfortable malls and supermarkets, and that became a trend, for a while though, and with the advent of the internet, it became possible through a single persons idea to order stuff you need directly from your home; online shopping became the trend, and is still the hot thing now.  Recently I heard about a store experimenting with drone delivery. What could be the next best thing in shopping? Could that be your idea?
 
MARKETING
You have a good and innovative idea that you are sure is a guaranteed money spinner. However, there is just one thing you have to face next; the big M, yes it is marketing. Many people cringe at the mention of that word but you do have to realize it is at the bedrock of all successful enterprises. This is so because no matter how good your product is, no one will buy from you if they do not know about it. The process of getting your potential customers acquainted with you product is what is known as marketing. In this digital age, you have to realize that the method of marketing is far different from what it used to be just ten years ago. If you want to succeed therefore as an entrepreneur, you must know how to leverage the opportunities social media offers in order to promote your goods. You must learn and use social media to influence your business growth, or watch your idea gradually die away.
 
PERSISTENCE
It is not guaranteed that on the first try your product will be an instant hit. As a matter of fact, it may take months or even years for you to be widely accepted. In the meantime, a number of business owners will get frustrated and close up shop. It is estimated that in Nigeria, only about 5% of small enterprises will survive the first five years of business. The difference between those that actually do go on and succeed is persistence. Many of the big businesses that dot our landscape did not also make it big just on their first try so if you find yourself getting disappointed in the results you are getting consistently, just keep at it for a bit longer, and your success is guaranteed to be just around the corner.
 
OPPORTUNITIES
As an entrepreneur it is imperative that you have the ability to recognize opportunities that will be beneficial to your startup, as well as take advantages of those opportunities to improve on your bottom line. For a serious and committed entrepreneur however, you do not have to sit around and wait for opportunities. You have to go out and create your own opportunities. Create opportunities to meet leaders and influencers in your field by attending conferences and symposia. And when you do find yourself in conferences, ensure you leave with enough contacts that you might need to take your business to the next level. The most successful entrepreneurs are usually the best networkers as they utilize every opportunity to expand their business network. Be an active networker in your business community and you will see opportunities opening themselves up to you. 
 
BREAKTHROUGH
Finally, you have followed the preceding rules diligently. It is now time for your breakthrough. You can be sure that that business that started up as a small idea is ripe for success. However, it is important that you are able to realize that contrary to what you think, success is not an event, or a destination but it is a journey. What that means is that you have to continue to be innovative and creative to remain relevant in your market.
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