Becoming wealthy is on everyone’s top of list, even if not top, it stands high on the list. But unluckily, it remains there only (on the list) and a very few of us realize it. There are some rich ones around the world born with a silver spoon or with an advantage over education and economic exposure but the rest of them had their brains working towards making those billions.

Making money is the most important thing of all. Either you go the switching job route or work on an alternate income or invest or create, make more money. In order to grow your money, you need either some money or skill, find out your USP (unique selling proposition). Here are some do’s and don’ts you can consider while you are on your way to being a billionaire or trillionaire or who knows even above;

DO’s

  1. Create or invent

This is the way which needs maximum hard work and dedication. Inventing a thing is not an easy task but if you believe you have that caliber, go for it. Your creation can be an advancement to earlier existing thing or technology or service or whatever. For example, even though mobile phones have been there for long but the touch screen mobile phones revolutionized the industry. G. Samuel Hurst during one of his experiments accidentally developed resistive touch in 1975.  The first application came out in 1982. Now, the touch screen technology is patented in his name.

Similarly, if you have the skill then upgrade it every now and then and work towards a technology or anything patented in your name.

  1. Innovate

The next thing in league is to do innovation. A novel ingenious idea can lead to your financial upheaval. State of the art is the new inn thing these days. Walmart being the biggest example. Who had though normal grocery shopping could so well exemplified and imaginative? People who have visited Walmart or Walmart like store know how luring it is to buy things that are on full display.

  1. Invest

Now this is a game changer, investments need some analytical and observational skills. Once you get hold of the investment. Opt for frugal ways to make more money, budget, spend moderately plan you month, plan your expenses, take out savings and invest them. There is no harm in seeking financial advice, seek some.

No one is unaware of the name Warren buffet, follow his rules, guidelines. Copy him, nobody is asking, whichever way suits you, do it and make more money.

  1. Setup a business

Being an entrepreneur is the lesser treaded road but these days the start-up trend ahs changed the scenario. Either come up with somethings that fills the gap in the market, day-to-day lives of people or find someone who has such an idea and invest in it. It is not a child’s play to start a new line of work and take it to the heights where everyone can see and appreciate it. It takes a lot more than just effort to do so but once you proposition hits the market and is well accepted, no body can stop you from becoming rich.

 

Don’ts

  1. Limit your knowledge

Knowing a thing or two about business or investments and making all your decisions based ont hem is the most foolish things you can commit. Be open to learning, never say I know it all because you don’t. nobody does. There is always a scope for improvement. Innovation is lead by creativity and creativity is all about exploring options, exploring the world. Even if you chose the business option, you have to learn new things injected in the industry and market. Seek knowledge and wisdom and implement the same in boosting your growth.

  1. Invest rigorously

The next best thing to hinder your progress in becoming wealthy is making investments or investment decisions which are impulse-based. Wait for the right time and expert reviews on any fund scheme you feel is good. Jumping right away onto things which are totally new to the market carry higher risks. Start with stable and long-established companies, choose a more rewarding industry, track past performance and rolling returns to compare two funds.

The one with better prospects is the one you should choose. New does not necessarily means nice.

  1. Abandon midway

Do not quit, at least not so soon. Neither investments nor businesses grow overnight. It takes time to get settled, perform and grow. Then returns or rewards are generated. Do not rush onto conclusions, you took your own good time to reach here, let your venture dwell and grow with time.

 

The most important thing to keep in mind that hard work always pays-off. Yes, luck has its own contribution but nothing can replace your effort and dedication. Always be a learner to new things, new ways and newer ideas, you never know when luck knocks at your door!