In building wealth, the number most important questions to ask is the process. How can an individual really build wealth, generate massive income, get riches, acquired lot of properties and most of all how to start. Before I discuss this topic, let me share some stories of people who build wealth. If you know rags to riches stories, then use the comments box below and share your stories.
Getting rich like Bill Gates takes time. The richest man in the world is an entrepreneur, passionate to computers and technology. If you have a passion in computer, then you can become also rich like Bill Gates for as long as you know how to use your passion in generating money.See Also: Best Mutual Funds Companies in the Philippines 2014
Not just that, if you know a big problem today in our world, find a solution and make money through that solution. Bill Gates knows that in 21th century, people will eventually like communication and information technology. That’s why he build a company to solve people’s problem. Any devices that run through computer system become useful. Say for example, an automated teller machine or ATM, our transactions nowadays are most likely using computer systems.
1. Find People’s Problem and Create a Solution
If you want to build wealth, you need to solve a problems. That doesn’t mean you have to face problems everyday. you just need find at least one big problem.
Example: Manny Villar is an entrepreneur and a real estate investor in the Philippines. He knows that not all Filipinos can afford house and lot. What did Manny Villar do? He build communities and sell low cost housing projects where almost middle class Filipinos can buy houses.
2. Build Wealth Through Investing
You can build wealth by just saving money alone. But it takes too long to build massive wealth if you only just save money. What you need to do to build riches?
You need to invest money. Investing money is the best and fastest way to build wealth. Do you think Henry Sy will become super rich if he just saved money? Of course not. He invests money. Henry Sy became one of the most richest Filipinos in the world because he carefully invests money.
Henry Sy invests money by building his own company shoemart SM. Eventually he build another company like banks BDO Banco de Oro, SM, etc. Do you think he makes money selling shoes? Henry Sy makes money by renting his properties. He build lot of malls in the Philippines and offer rental spaces to other entrepreneurs.
3. Build Wealth through Entrepreneurship
I know a lot of very wealthy people and I just found out one thing in their “getting rich” strategies. That is selling. Entrepreneurs love to sell. They like promotions. They are passionate about sales.
Being an entrepreneur takes courage and self discipline. If you want to build massive wealth through entrepreneurship, you just need to sell something. But of course you need to think big. Some entrepreneurs are just an affiliate of a company. Entrepreneurs can get rich by selling other people’s products. Say for example, an entrepreneur can buy a Jollibee franchise and build his own store in his area or city.
If you want to build wealth, you need to find a solutions to people’s problem; climate change, high cost education, foods, clean drinking water, etc. Also, you need to invest money if you want to build wealth. Like Henry Sy, his wealth last through generations. you can start as an entrepreneur if you want to get rich. Sell other people’s products or create your own products. There is easy money in selling.
Stay tuned to Daily Investing Tips for more useful articles, tips, advice in getting rich, building massive wealth, generating passive income, personal finance, business and entrepreneurship. Like and share this article with your friends on facebook, google plus, twitter and linkedin.See Also: BDO UITF Equity Lump Sum 2009-2014