Wealth is the ability of choice and freedom of time and money. Wealth can be created simply and easily if one does not skip any of these important principles. Any success achieved without these principles is temporary and can be easily cut short by a third party, economical manipulation or shifts.
1. True Service: Someone needs to be served in a repeated fashion if you want to create permanent wealth. You also need your consumer to need you and have the ability to refer more customers when they are happy with your service. Your product or service must be close to oxygen and water on peoples’ needs scale. Every business and corporate America is a pyramid scheme. The illegal ones are those that does not serve, provide services or sell any product.
2. Credibility: This can be acquired quickly by partnering up with an entity or person with a well documented track record of success and service. It is who you know and not what you know in life; not business only, but in life. The consumers, customers or whatever you want to call those you serve are naturally attracted to credibility. They would pay more for a bad product or service with good credibility if necessary.
3. Residual or Passive Income: This is the type of income that you generate when you do something only once and get paid over and over again; sometimes forever, either you get out of bed or not. True wealth is created only when your residual income outpace your residual bills.
4. Leverage: Every one physically has 24 hours in a day. One needs to strategically have more than 24 hours in a day to create true and permanent wealth. True wealth cannot be created with linear income regardless of how big your salary is; even $1 Million per annual. Leverage simply means doing more with less and the simplest way is to override residual income or others’ efforts.
5. Simplicity: Keep it super simple (KISS). One must be a able to explain your product and service in a simple and plain lay man language. Consumers that will continue to pay for your services are naturally attracted to simplified and friendly usability of product and services. Simplicity does not mean inferiority.
6. Initial Investment of Time and Money: Beware of any business opportunity that does NOT require this 2 things. If one does not invest time and money, it is as simple as they own nothing. Also, it psychologically removes the urgency and hunger for success by about 80%. If you do not agree with this, do your self a favor. Go back and find a job. This information is only for those that desire more than the mediocre lifestyle.
7. Education and Inspiration: Mindset is everything. One literally is a millionaire in their mind before it manifests in reality. The transition between being broke and being rich is a roller coaster and it can only be successfully done true constant education and inspiration. Most importantly surround yourself with successful people or people with same goals and a mentor.
PS: Check this OPEN LETTER: How to Create $3 Million+ in 24 Months With Proof