want to know how to get rich with a business then make sure you watch the full video
we'll share with you the most important tips that most entrepreneurs often overlook in their pursuit
for success while some may seem like common sense they're not always common practice and most
business owners fail to become rich because of not implementing some of the pointers in this list
now let's begin shall we 1. know how the cash flow quadrant cash flow quadrant is the various
ways by which money is made the various ways of making money require different educational paths
different kinds of people and different kinds of skills the cash flow quadrants can be grouped
into four types first there's the people who are employed and solely derive their income
from their jobs as an employee you're paid for exchanging your skills efforts and time you put
in your employer's business secondly there are the self-employed people who make their own money
out of what they do most employees will at some point want their freedom
and they are likely to jump into self-employment they start working for themselves and their focus
and efforts determines their income these are the people who have set up their own businesses
this is where business owners develop systems and a strong team of people
to make sure the business can run without their involvement lastly there are the investors most
of these people have accumulated savings from their businesses and are able to let their money
work for them they look for businesses where they can invest their money by buying shares or stocks
this only leads to more money into their pockets so if you really want to become
rich with your business work your way to owning a business or becoming an investor two
be well equipped with knowledge it is exceedingly difficult to become rich with a business that you
know little about you need to have acquired enough knowledge even before you start your business
it's very crucial that you invest in yourself you can engage the services of a mentor to guide you
as you build your business a mentor will help you strengthen your weaknesses and attain maximum
potential you can also educate yourself by reading books or materials that have all the information
you need according to the nature of your business it's necessary that you make a habit of attending
business forums too in addition to getting connected with people you can do business within
these forums you can learn a lot of business secrets that can help you improve your business
once you put all this known knowledge into practice you'll be able to produce better
products or services which will lead to higher income your marketing strategies will also improve
and this will definitely see you through to riches the point is never to rest until
you've learnt all there is to learn about your kind of business if your aim is to become rich
three have a budget a budget is very crucial in a business in the sense that it helps you to take
charge of your money a budget will restrict you from extravagance with your finances
it will help you manage your income smartly it's one of the things you cannot do without if you
want to build your business and become rich a budget will streamline you and keep you on track
so as long as you stick to your budget you'll never go wrong a budget will give you space to
breathe as you're able to review the progress of your business you'll be able to know the elements
affecting your business and deal with them as a way of maintaining continuous improvement
with a budget you'll be confident when making decisions a budget is a must-have for the rich
4. relate well with people you work with it is particularly important to relate well
with the people you work with and leave a good impression especially when you're executing tasks
the way you relate with people will definitely affect the way they work
the rich know that if you make employees feel appreciated and useful they will make
sure they put in more efforts in their work and your income will most likely shoot up
you actually benefit by simply relating well with your employees so if your desire or goal
is to become rich with your business leave a good impression by the way you get along
with people this will contribute to your becoming rich five need to climb the entrepreneur's steps
climbing the entrepreneur's steps is the road to becoming a business or investment owner
if you want to get to the top and become rich you need to climb the entrepreneur's steps
first you may start out as an employee with a low income if your work is good you'll end up with a
job promotion which comes with higher income with a higher income you can start planning to become
self-employed it's wise to start small and in your area of expertise and sooner or later you'll be
in charge of your own employees make sure that as your business grows you employ experts and engage
systems that will make sure the business runs smoothly whether you participate or not never
lose focus of where you're going and finally you will have qualified as an entrepreneur
6. out of your income save spend and give rich people will always save a portion of what they've
earned you can put your savings into investments like buying shares or stocks in companies
in order to increase your earnings you can then take another portion and spend it on your needs or
on a few days holiday where you can have time to rewind and come back fresh and energized to work
you can take the third portion and give it out to a charitable organization or to any needy
persons thinking of the less privileged people is the best thing a rich person can ever do
so remember to do this as you climb the ladder to riches 7. don't waste time on useless things
in every business or for someone who's aiming higher in life time is of the essence time is
money and it is what the rich have treasured in order to make it to where they are
show me a person who wastes time and i'll show you a poor person time is the best asset you
can ever have the rich will never waste their time and so if you desire to be where they are
stop wasting your precious god-given time and emulate them yes once in a while they'll take
a break but this will only be done mainly to celebrate a momentous occasion such as after
achieving a business goal this is when you find them going for a few days holiday just to rewind
still when on holidays they think and plan how better they can run and improve their businesses
they do not just go to eat and sleep no wonder they are rich and different from others
eight be equipped to manage and lead managerial and leadership skills are a must have if you
want your business to rise to the top how will you steer your business to riches if you're not
equipped with managerial and leadership know-how you need to have capability to organize your team
and align your system well to give you maximum work results make sure they all work for you and
not against you this way your business will grow to greater heights and you'll be rich
your excellent managerial and leadership skills will make your employees have faith in you
and therefore give their best efforts towards your business 9. find out the reality of your business
it is especially important to know the truth the goings and the happenings in your business
do not be in total darkness of what's going on in your business don't wait until things turn from
sour to worst engage all available strategies to be in the light of everything that happens
daily in your business ignorance is no defense it is of necessity to make sure you're operating
in awareness know how people feel about your products or services are they satisfied by
what you're offering in the market are they up to standard are they competitive make sure you
get answers to these questions and improve on what needs to be improved ensure that your products or
services are the best in the market 10. implement persist and constant continuous improvement
most rich people know that this game of success in business is all about implementation persistence
and constant improvement this is definitely an approved path of success you can be educated
and well equipped with skills or talented in a particular field but without persistence and
determination you cannot make it to riches to be able to take your business to higher heights
you need persistence to prevail business storms it will help you pass through failures losses
depression and many other obstacles that may come your way as you run your business you also need
to execute business ideas and duties promptly so that the results can be acquired in good time the
delay in execution will affect the time you take to achieve your income fast execution of ideas
and duties only means fast results achievement you also need to strategize ways of implementing
continuous improvement in your business think hard to various ways of making things better
in your business now and then this will ensure that your business will never stagnate or die
it's important to get advice from the experts on areas that need improvement in your business
if you execute persist and do constant improvement you will definitely sail smoothly to riches 11.
avoid debt not unless it will earn more for you debt is a monster that should be avoided by all
means not unless you invest it smartly to bring in more income for you the rich try their best
not to borrow aimlessly you do not need to borrow money and spend it on leisure cars or homes etc
you should try and live below your means until you make it to riches always make sure you invest
your savings for the purpose of increasing your earnings debt can pull you down to poverty so if
you want to climb the ladder to achieving riches get out of debt and avoid them as much as you can
12. unpopular job examples for you to become rich you need to be aware and full of knowledge of all
the jobs available in the market it's important to consider various businesses sectors and industries
in order to identify the ones that bring in more earnings trust me to do some of these jobs you
do not need to be a degree holder a little bit of experience from a former employment
or the service of a mentor is all you require to enter into business in your field of choice
some of these jobs are mostly ignored or overlooked because of lack of awareness
many people do not know that some of these jobs or businesses generate a lot of money these are jobs
like carpentry shoe shine hangover bus services tidal processing recycling fryer grease and so on
so all you need to do is identify what you can do best and gives you high profits for you to become
rich in the near future learn everything there is to know about your job dig deep and be the
best there is in the market most rich people never got formal education but they started with these
unpopular jobs and managed to climb the ladder to achievement today they're great business owners
thank you for watching i believe if you're still here you must have enjoyed the video
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