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6 MONEY LESSONS RICH PARENTS TEACH THEIR KIDS

 

6 MONEY LESSONS RICH  PARENTS TEACH THEIR KIDS


1)    SUCCESS ISN’T FREE

WEALTH AND SUCCESS TAKE WORK.

“BECOMING FINANCIALLY INDEPENDENT WILL BE THE FIGHT OF YOUR LIFE. YOU WILL HAVE TO BE WILLING TO SACRIFICE YOUR TIME, SLEEP AND LEISURE TO BUILD SOMETHING GREAT”,

IT’S NOT GLAMOROUS OR PRETTY. WHILE YOUR FRIENDS ARE OUT HAVING FUN, YOU WILL BE WORKING.”


2)    GET RICH SOLVING PROBLEMS

THE TOP EARNERS KNOW THAT MONEY FLOWS FROM IDEAS AND PROBLEM SOLVING.

“IF YOU WANT TO BE RICH, SOLVE A PROBLEM, IF YOU WANT TO BE VERY WEALTHY, SOLVE A BIGGER PROBLEM.”

“IT’S SIMPLE. SOLVE A BIG PROBLEM, AND THE WORLD WILL GLADLY TURN THEIR MONEY OVER TO YOU.”


3)    SURROUND YOURSELF WITH SUCCESSFUL PEOPLE

WHO YOU HAND OUT WITH MATTERS.

FIND WAYS TO CULTIVATE RELATIONSHIPS WITH WEALTHY, SUCCESSFUL PEOPLE: “ READ THEIR BOOKS, ATTEND THEIR EVENTS, DONATE TO THEIR CHARITIES… AND WHATEVER ELSE YOU CAN DO TO GAIN INTRODUCTIONS AND BUILD RELATIONSHIPS.”


4)    MONEY SOLVE MOST PROBLEMS

THE RICH AREN’T AFRAID TO ADMIT THAT MONEY CAN SOLVE MOST PROBLEMS.

“BEING RICH WON’T MAKE YOU HAPPY, BUT IT WILL SOLVE 90 PERCENT OF YOUR PROBLEMS, IF YOU HAVE A PROBLEM, AND YOU CAN MAKE IT DISAPPEAR BY WRITING A CHECK, YOU DON’T HAVE A PROBLEM…”

MAKE YOUR MONEY BY SOLVING PROBLEMS, AND YOU WILL GET RICH ENOUGH TO PURCHASE YOUR OWN PROBLEMS AWAY.


5)    INVEST

“THE RICH ARE INVESTORS, NOT SPENDERS,”

TO BE A SUCCESSFUL INVESTOR, STICK TO WHAT YOU KNOW OR WHAT YOU ARE INTERESTED IN : “IF YOU ARE BASEBALL FAN, LOOK INTO INVESTING IN RARE BASEBALL CARDS. IF YOU LIKE DISSECTING STOCKS, YOU COULD STUDY THE STOCK MARKET.”

THEY INVEST THEIR MONEY TODAY, SO THEY WILL HAVE MORE TOMORROW.


6)    MONEY AND OPPORTUNITY ARE LIMITLESS

RICH PEOPLE SEE MONEY AS ABUNDANT.

“IF EARNING MONEY IS BASED ON SOLVING PROBLEMS, AND THE NUMBER OF PROBLEMS IS INFINITE, THEN YOUR ABILITY TO EARN MONEY IS INFINITE,”.

 

“REJECT THE MASS BELIEF THAT MONEY IS A SCARCE RESOURCE…

IT’S NOT. WHAT IS SCARE ARE PEOPLE WITH SOLUTIONS THAT OTHERS WAN TO BUY, AND THAT’S WHAT YOU NEED TO MASTER.”

 

 

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STOP SAYING YOU HAVE NO TIME

STOP SAYING YOU HAVE NO TIME

THERE ARE 168 HOURS IN A WEEK
YOU SPEND 40 HOURS AT WORK OR SCHOOL, 14 HOURSAT THE GYM, 56 HOURS SLEEPING.
THAT MEANS YOU STILL HAVE 58 HOURSLEFT TO USE. DON’T WASTE THAT TIME, USE IT WISELY.

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BOOKS YOU SHOULD READ TO LEARN A ENTREPRENEUR SKILL

BOOKS YOU SHOULD READ TO LEARN A ENTREPRENEUR SKILL
 
      Crushing It! is a state-of-the-art guide to building your own path to professional and financial success, but it’s not about getting rich. It’s a blueprint to living life on your own terms. … That’s what Crushing It teaches readers to do.

        The book is said to be “one of the most influential business books of our era”. The authors identified two primary objectives for the research published in the book:“to identify underlying characteristics are common to highly visionary companies” and “to effectively communicate findings so that they can influence management”.
             The Lean Startup by Eric Ries. The book consists of the learnings which the author had while working on his startup IMVU. The book focuses on the concept of validated learning and the build-measure-learn feedback loop. It tries to bring in a systematic approach to measuring the progress at a startup.

           The 4–Hour Workweek is the step-by-step blueprint to free yourself from the shackles of a corporate job, create a business to fund the life style of your dreams, and live life like a millionaire, without actually having to be one.

       In The $100 Startup (published in 2012), Chris Guillebeau discusses the challenges of starting and growing a small business, and offers a guide to help overcome these challenges. The book aims to aid would-be entrepreneurs succeed and escape the rat race so they can live life on their own terms.



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CREATIVE SMALL BUSINESS IDEAS PART 1

CREATIVE SMALL BUSINESS IDEAS
 PART 1
  1.REAL ESTATE PHOTO SERVICE
  • AS MORE PEOPLE ATTEMPT TO SELL THEIR OWN HOMES THROUGH ONLINE PLATFORMS, THE DEMAND FOR REAL ESTSTE PHOTO SERVICES IN INCREASING.
  • A BASIC SHOOT FROM A PROFESSIONAL PHOTOGRAPHER COSTS AROUND $250. 8 SHOOTS PER WEEK +$20000/WEEK.
  • PROFIT: $104,000PER YEAR

 2. BLOGGING
  • FIND A NICHE TOPIC TO WRITE ABOUT THAT YOU ENJOY AND KNOW A LOT ABOUT
  • PROVIDE VALUE TO YOUR READERS AND DRIVE TRAFFIC TO THE BLOG THROUGH FACEBOOK, INSTAGRAM, ETC.
  • INCOME VARIES, BUT $1K FOR 30K VIEWS/MONTH IS A FAIR ESTATE
  • PROFIT: $40,000 PER YEAR (100K VIEW/MONTH)

3. NEAREST TOILET
  • CREATE AN APP THAT SHOWS USERS WHERE THE NEAREST PUBLIC TOILET IS
  • USERS CAN RATE TOILETS BY QUALITY, CLEANLINESS, PRICE, ETC.
  • USERS CAN ADD NEW LOCATIONS WHEN THEY FIND A NEW TOILET.

4. ICE CREAM VENDING MACHINES
  • PURCHASE A BUNCH OF VENDING MACHINES ($3 TO $5K PER MACHINE)
  • FILL VENDING MACHINES WITH A COLLECTION OF ICE CREAMS (0.5 EACH IN BULK). SET MACHINES UP AROUND BUSY PUBLIC BEACHES.
  • SELL FOR $2.5 EACH. 30 SOLD PER MACHINE PER DAY.+75/DAY
  • PROFIT : $189,000 PER YEAR (10 MACHINES)

5. DROPSHIPPING
  • FIND A NICHE EXAMPLE :YOGA MATS
  • BUY MATS FROM SUPPLIERS IN CHINA ON SITES SUCH AS ALIEXPRESS.COM $2 PER MAT
  • MARKET ON AMAZON.COM, SHIP DIRECTLY FROM SUPPLIER WHEN PURCHASE IS MADE
  • SELL 10 MATS PER DAY AT +$15 PER MAT

  • PROFIT : $47,320 PER YEAR

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