Many people have become rich when they were not born that way. Working smarter, not harder, can be the secret that you’ve been missing to become rich from absolutely nothing. I love to talk to business owners specifically on how to get rich, because I believe that owning a business is the fastest and smartest way to create wealth for yourself.
Building a business from scratch is hard work and requires a large degree of resourcefulness, dedication, and enthusiasm. If you have those qualities, chances are it will feel like fun, not work.
Why do you want to become rich?
Becoming rich is not an overnight process – you need to really want to become rich. So, think about why you want to become rich? What is motivating you?
You need to understand your reasons to why you want to become rich to succeed at this, because it takes time and perseverance. You need to be willing to put yourself out there, face rejection, and keep going to reach your goals.
Every millionaire that I know will tell you the same thing, “there are no overnight success stories.” So, if you think this is a get rich quick article, you may want to move along. Because it’s not. Overnight successes are as a rare as unicorns. I’ve never met an overnight success, and I’ve never seen a unicorn.
In fact, all the business owners I’ve met and interviewed over the years have told me that it’s hard work, there’s a lot of rejection, but the reward is absolutely worth it.
What the rich invest in
The common product that the rich have invested in is themselves. They have invested in learning what they need to do so that they can achieve their financial dreams. That means they invest in their education – not necessarily formal education, but they read and research topics that will help them get ahead.
They know that when they take the time to invest in themselves that there will be a return on that investment. Rich people invest in realizing their financial goals. They dream big and go after those goals with no excuses.
How to become independently wealthy
My best advice to people when asked how to become independently wealthy, I say, start a business. When you can start a business, prove your offer, make money, and start bringing in many sales, you are well on your way to building a business.
But the key to success is knowing how to manage your money in the business, and in your personal finances. It’s not how much money you make that makes you rich, it’s how you manage your money. Wealth management is a vital part of being rich.
How to make your first million
Once you have a proven offer in place that you are selling and making money on, you need to build your financial foundation to make sure you have your processes and systems in place so that when you grow your business you will do so profitably.
You can bring in a million dollars in sales, but if you have no profit to support it, you essentially have nothing. Profit is the money that you get to keep at the end of the day, but don’t forget that you also get taxed on profit.
Profit is what will make you rich.
The bottom line is that there are many people who want to get rich, but not everyone will do it because of the work involved. It’s a lot of work, and it takes time to establish a business. But as a business owner you have more control over the income that you make rather than being an employee earning a fixed salary.
If you need help with managing the finances in your business, check out my Cash Confident Course that is designed to help business owners build their wealth through their business.
