Dear Business Friends
Tales of the rich and famous are nothing new. Like me, I’m sure you have read those rags-to-riches stories in glossy magazines about fabulous wealth enjoyed by mega-millionaires like Richard Branson, Bill Gates and Gina Rinehart.
We know that these people have made it but do we know how they made it. How did they get started, and how did they build their fabulous wealth?
If you look behind the headlines, you’ll find that many of today’s super-rich started off in a very small way. In fact, they built their empires step-by-step. For example:
Richard Branson is estimated to be worth over $1 billion but what you might not know is that Richard started his corporation as a mail order record company from his basement, with almost no money, and a lot of help from his friends. Now he has got a lot of businesses under the Virgin banner and the company makes over $1 billion per year.
The message behind this letter is this: Becoming rich and successful is easier than you might think.
Your Six-Point Plan for million $ success.
You start with a simple business idea and you grow it from there. This is the same method that ancient successful people used to accumulate wealth and it is the same method used by today’s biggest success stories:
Step 1: Start your first business project. You’ll be the owner-operator. Work in your business by yourself to keep the overheads low. Then, you reinvest all your profits back into your business, until you have carved your niche in the market you are in.
Step 2: Then you become an employer. Hire one or two people or more if you need it. You should do this because, as an employer, you’ll build your wealth not only from your own entrepreneurial efforts, but from the efforts of the people who help you make that happen.
Step 3: After that, put in a manager to work with you. As a budding mega-entrepreneur, you don’t want to be held back by small details, you could have someone else doing. By hiring a competent manager to run your business for you on a day-to-day basis, you’ll leave yourself more free time to concentrate on looking for new opportunities and new ways to expand your empire. Work more and more on the business and less in the business.
Step 4: Diversify. Most successful entrepreneurs have their business stretching in many directions, like a spider web. Quite simply, the more different entrepreneurial ventures, the more chance you’ll have that one of them will be a runaway success.
Step 5: Capitalize on your market. Look for other ways you can make money from your business, rather than just selling one product or service. For example, if you’re selling a book about computers and its making you profits, chances are likely that you’ll be able to sell another book to the same market and make even more money.
Many successful people also franchise their business or even license others to start the same business in other countries. The US fast food restaurant McDonald does it and makes millions selling the rights to run a restaurant. You could and should do the same.
Step 6: Then appoint yourself “Chairman of the Board.” Once you’ve reached this final step, you won’t be “working” anymore. You’ll keep your hand in day-to-day operations of your business, but you’ll delegate most of the work to your “Board of Directors” and managers. Pay them to do the running around, while you simply make the decisions.
And the best part is many multi-million dollar companies are run by “remote control” from the golf course, or even a beach in sunny Hawaii.
The top level of this six-step plan may be out of your reach right now. Don’t worry. Remember, some of the world’s greatest million-dollar businesses were started on a kitchen table with almost no money. You can do the same!
Follow the plan above and in a year, or two, or ten, who knows how big it will be and how rich you could be as the Chairman and the majority shareholder!
To start the whole process contact an experienced Mentor (not a coach) who has assisted building companies with success.
To verify what I have mentioned above please look up my new exciting, informative and entrepreneurial website www.thinkingassociation.com.au and listen to some of the videos.