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Here's How To Get Rich in five easy steps. The only special skills you need are basic common sense, a good idea, and a healthy dose of hard work.
Get a job. They say you have to spend money to make money. "They" are right. For example, if you want to start your own laundry business, you'll need a washer, a dryer, and running water. A lawn mowing business probably requires a lawnmower. And so on.
For now, get any job that allows you to save at least $20 a week. That's the easy part. Now, here's the harder part: Stick that extra money in the bank and pretend you don't have it.
Save Money. You'll need it for starting your business, no matter what business you start.
It's a good idea to open a separate savings account for this purpose.
The money you will spend to start your business is called startup costs. The money you are saving to invest is called investment capital.
Get an idea. Brainstorm a workable plan for your hard-earned investment capital.
Invest. There are way too many investment possibilities to cover here. Popular investment choices include high tech IT startups and real estate.
Do thorough research before you invest.
Capitalize on your investment. Investors buy out at some point, when the value of the investment goes up.
Here's an example of Investment Capitalization: If you buy a house, you can sell it later at a higher price. In the meantime, you can rent it out to tenants.
No matter which business idea you choose, consistency, creativity, a dash of investment capital, and a strong work ethic are the main ingredients to success.
How To Get Rich - A Case Study
Warren Buffet, the billionaire also known as the Oracle of Omaha, earned his first investment capital back in the 40s, when he was only 12 years old. His job was delivering newspapers. He eventually saved $25.
One day, Warren Buffet found a broken pinball machine.
Then he had an idea.
He asked a mechanically inclined friend from school to fix the machine for ten dollars. The friend agreed.
Warren then offered the owner $15 for the pinball machine. Then he hauled it over to the local laundromat, and offered the laundromat owner 10 percent of his earnings from the machine.
After that, Warren's only job was to show up once a day with a bag, and scoop all the coins from the pinball machine into the bag.
That's how Warren Buffet turned a $25 investment into a $25-a-day business. And this was way back in the 1940s.
Ten years down the road, Warren Buffet had paid for his own college education, and bought himself a 3-bedroom house in Omaha.
All it takes is a bright idea.
how to get rich
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