I want to give you some knowledge, if you are a senior high school, college, master degree grad on how to become rich because I find I am qualified to give you this advice.
When I firstly got started after graduating from Vanderbilt University with a degree in mechanical engineering I was flat broke. I quit my job and I ceased up becoming homeless, living out of my truck but through the tutelage of a mentor I became very successful financially. As you can see behind me I am on a vacation in the Smoky Mountains, 4500 hoofs above sea level, I spent the working day operate fishing and I live living conditions of my dreams today.
Owning a Business
What constructed certain differences for me? I’m going to share that with you and I’m going to give you some great advice if you really want to be rich.
Here’s the first thing we need to discuss, if you want to be rich you have to become a business owner, you have to own your own business, you have to be an entrepreneur. Here’s the interesting thing about that, if you are a high school grad but especially a college grad you have spent the entire volume of your life in school and school does not teach you how to be a business owner instead it teaches you how to be a great employee.
You wanting to be rich means that you have to learn an entirely new body of knowledge. You may be surrounded by business owners and that could be used to, so if your friends, kinfolk, if you have aunts, uncles, grandparents, if you have had beings in your life that have owned organizations that does make a difference but there’s nothing like you actually getting on the bicycle and riding it.
My firstly big-hearted, important piece of advice is you’ve got to start a business, ideally you start a business that are currently is profitable, something that you enjoy.
That’s a piece of advice that graduates often get, do what you love., well I’ll tell you this if you do what you love you’ll maybe do a lot of it and then beings will call you a workaholic, ask me how I know. If you find out what you enjoy doing you are more likely to be successful but how do you find this out.
Well, it comes through knowledge so I would suggest that if you’re going into college try to find a way to have different jobs in different industries. Get a breadth of knowledge in different natures, different universes, that will help you gravitate toward one thing or another. I got a degree in mechanical engineering and I went to work for a Fortune 500 firm as a sales engineer, I was completely bored, I was falling asleep at the desk. I care I would have known that before hand, right?
What are You Good at?
There is certain things you can do to help you get a better understanding of what you may love but I’ll say this most people like the things they’re good at. Even if it’s a odd manufacture, lets say you own a junkyard or a garbage accumulation firm, those kind of things. You may not be passionate about junk but you may be passionate about something you fully understand so take stock of yourself, what has been your previous suffers? What are you good at? What do you think you could be good at? That plays a crucial role because if you’re going to own your own business you’re going to be spending a lot of hours doing it.
The business that I’ve been in mainly has been buying, specifying up, flipping, selling rooms, being a active real estate investor but then as I constructed money I then began investing in dimensions and then of course these days I also mentor and coach-and-four other persons and I share profits with them.
I am a business owner and one of the great things about being a business owner is that you have complete control over future developments , nobody can fervor you because you have the ability to produce , is not simply the customer basi through market but them the sales process and then the fulfillment and you can build a machine and that can feed you for a lifetime. Formerly you have a successful, substantiated business then you can begin investing that, plainly I’m in real estate so I’m going to suggest investing in real estate but there are also interesting thing you can invest in whether it be other organizations, events they call stocks or equities whereby you are becoming a part owner in other publics organizations.
So being a business owner, critical, what business should it be in? Again that goes back to what the hell are you ardour, what your previous knowledge is, also what the market is and where the opportunity is. It’s no fun being in a business you affection that shapes no money so you need to be in something that’s actually profitable.
Now you’re running into these big questions that you may not have have the answers to, well not everybody’s rich so obviously these are things that you’re going to have to figure out along your outing.
Some other little goodies of becoming rich, you need to save, save, save. Skimp as much as you can early on because you need every penny you can to throw back into your business and your notions, throw them back into yourself. Invest in yourself such as taking great courses and getting developed on how to be successful in business, how to take complete control over who you are and stimulate the right decisions.
You haven’t learned any of this nonsense before in almost all cases and this is brand new to you so it’s like going to school all over again only in the real world which introduces up this detail, you’d better be humble because while you were in school all this time some other beings that are already in the business nature were busy being in business.
That is necessary that no matter how good you were in school , no matter how favourite you are none of that are important in the business nature, what matters is you raising consistent clients coming to a business that provides a service or a produce which clients affection which you build in enough gain and then you have the right team to service all of that great