Friday 27 December 2013

What The Rich And Wealthy Have Known For Years - Other Peoples Money

By Frank Miller


Getting rich isn't all about hard work. In fact hard work has got little to do with getting rich. It's not that I don't advocate hard work, I do. I love working hard but I especially like to see myself and others working smart. I know that getting rich and achieving success is not exclusively the domain of blood, sweat and tears. I've seen friends, work colleagues and family work themselves to the bone for little or no reward.

Most of the people I talked to have college degrees, but they didn't know the basics of wealth creation. Sure, you could fail and that's what stops most people succeeding, but if you have the right method and the right attitude, you can win in building wealth. Once you have set the goals for your wealth building, the next step of financial planning is to lay down a feasible and precise plan.

Some people boast as to how much money they made from some venture, this makes others feel bad, that they did not get the piece of the pie. Wealth is energy, people will either vibrate with it or not. You can build your own empire, provided that you have the end in mind. You want a million dollar lifestyle then you must build it. How? There is only one way and that is to keep the main thing (your business) the main thing (not be distracted by other things or claims). The success of many businesses is created through longevity. That is an undeniable fact. Any company to be on the top rung of the ladder has brought itself there through persistence and planning. Success is not luck.

The key ingredient that separates winners from losers is discipline and playing the odds at the right time, if you adopt the mindset to succeed, have confidence and are prepared to take calculated risks you can win in what is probably the most lucrative of all ways to build wealth fast. To build wealth you need to balance the risk reward and aim for the highest reward, with low downside risk.

OPM buys you time; it enables you do things before you would otherwise be able to do them. It allows you participate in deals your own resources don't allow you to do. It enables you make choices you couldn't otherwise make. It takes the average person many, many years to accumulate wealth or build a business entirely from their own resources. By utilising the power of Other People's Money you can fast-track your personal wealth building or the growth of a business. Importantly, your personal wealth building is no longer limited to what you have been able to save and invest from your earned income.

This process takes time, I know we all have seen "The Secret" and they did make a point that it doesn't happen overnight. They couldn't tell you how long it will take, but what was the prevalent theme? Keep in good spirits and keep working on what it is that you want. I believe this is the greatest and wisest piece of advice to give anyone who truly wants more in life. Let us get real. You want to accomplish something great, start moving into that direction and it will happen, if you apply the fundamental's of business and manage your money correctly. A wealth building plan is not difficult to set up, I can teach in a day! Not all the details but general overview.




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