How can I become wealthy?

Question

I want to start my own business, and I am planning on either starting my own financial firm and spreading it around, or starting a shipping business. I am not sure exactly how I should go on about it. I am an extremely ambitious person and money is important to me, and one of the only ways to get really rich is to start your own business.

Answer 1

1) Ignore the inevitable 10 get rich quick responses you'll get to this question

2) Pursue something you really love doing. Something you find boring will fail to inspire you

3) Plan - really plan (not dream) - include lots of different scenarios.

4) Confidence - you need to ooze confidence without appearing cocky (a hard balance). Others need to believe in your business

5) Take risks - don't gamble, but be prepared to try things and be prepared for regular failure. Try to control the impacts of those failures by contingency planning

6) That ties in with Persistence. Things WILL go wrong. When you hit a problem, just say to yourself, there's always another way of achieving this

7) Be hard. Be prepared to cut out bad ideas and bad things. Remember if you hire a friend or your mother for example, you must be prepared to fire them if it doesn't work.

8) Measure, measure, measure - understand the impacts of everything you do. If you put a new product line on, for example, know within days or weeks whether it is working.

9) Know every cent that comes into and out of your business. This ties in with 8 but is different. It's easy to lose money and invest in bad ideas if you don't know your costs and your profit factors

10) Just because there had to be a ten - luck. You've got to have some but following steps 1-9 will mean people come up to you and say "gee you're lucky" in a few years (which is infuriating but satisfying at the same time.

Answer 2

Hello Mike, the best way to learn and save, you have many ways or options to start, I'm figuring your a young aggressive and you want it, asap the best thing you should do is ,save that money, money you may spend on junk food and all those trimmings in life we spend on, if it is $2.00 put it in the bank, you have to be selfish, to get what you want at first , don't loan money, save every penny except for your Mother & Father on Mom & Dad on Xmas or Fathers day , Mothers Day or Birthday , that's it , if there is a funeral or wedding or what ever save that money, get a Job in the field you intend to run your own bussiness start from the bottom up so you know by heart each job intailed consists of every position in your company you wish to have, that way you know how every department runs, even the jobs you think are not important, because every department Executive , to Supervisor to the hourly wage Job in the company are as strong as the weekess link, some places big enought have a chain of command , go to specialty schools or Colledge , while you are working that field is a great plus for advancing ,because you want to be good at what you do it may take 5 or 7 years of experience to run your own Co, at a smaller scale / and climb up and grab the brass ring, be diplimatic, treat every as you like them even if you dont, Rule number 1 / the boss is always right ,rule number two if you think the boss is wrong ,go back to rule number 1, Ross

Answer 3

If you plan to start a shipping business, maybe you would want to do one of those franchise things. That's how a lot of people make money at first. And those postal/shipping franchises happen to be good ones!

Next, I've learned that it's just as important to manage your money well as it is to earn it. I never made nearly as much money as my siblings, but I am richer than them because I managed my money much better.

I now trade stocks for a living, not saying that's what you should do, but it seems to be a really good way to make money quickly. And there's nothing holding you back from learning the business if you are ambitious as you say you are. Study, study, study.

Answer 4

Its great that you are planning to start your own business.That too when you select shipping business, it is indeed one of the most yet to be explored field .Huge potential is awaiting.Reason simple, we are approaching towards a global market .Things are manufactured at different place , it is consumed at different place .The true mean of transport is non other than ship.Great potential lies in this field such as oil tanker , LNG Tankers , container vessel etc. But , for those thing to succeed you need to have huge capital as well as proper planning.
From a like minded person interested in shipping business.

Answer 5

In up to date reports it's been proven that persons that experience spent a profession within the army are highly positive (financially rich). - Officers that serve five years or extra are often making over 6 figures inside the primary five years in their civilian careers. - Enlisted that get a measure and serve a profession will by and large make 6 figures within the first five years of there civilian careers - Enlisted that serve eight years and get an AA measure or higher will make roughly 50% greater than they had been making within the army by way of 12 months five in a civilian profession. - GEN (r) Shinseki has acknowledged that his peers in civilian enterprise have mentioned that they could as a substitute rent a army chief and educate them within the technical elements of the enterprise than mildew a chief from the opening. - Many Senior Officers and NCOs have large revenue generating truly property portfolios by the point they retire from the army because of the three-five 12 months alterations of station. Essentially, if you're financially and mentally disciplined, do good within the army, and search an schooling you're going to be very positive external of the army.

Answer 6

There is exactly ONE way to become wealthy. You MUST spend less than you earn. If you don't do this, there is not enough money in the world to make you rich. If you do, you can become wealthy earning under $25,000/year.

Answer 7

Do you already have a car? (Paid in full)

You could start your shipping business moving people from Point A to Point B in your city. This type of service is called a taxi.

After that, you can buy a used Ford Lincoln and hire at least 3 more drivers and they will move businessmen from the Airport to their hotels.

After that, you can buy a used Limosine and hire at least 3 more drivers and they will move brides from their houses to their churches.

After that, you can buy a used school bus and hire at least 3 more drivers and they will move students from their houses to their schools.

Answer 8

Education, self-confidence and persistence.

Answer 9

well thats the life long question isnt it