The Attempt To Get Rich In The Corporate World

The Steps One Must Take To Avoid the Corporate World For The Rest Of Their Career

1. Firmly understand that no employer is in the business of making you rich Becoming familiarized with this concept is the first step to becoming an entrepreneur. It is in the minority when people become rich by working for somebody else. Most employers have started their own business for the same reason you are intrigued about being an entrepreneur gaining wealth and living a comfortable life. I must admit that there are some great business owners who treat their employees like family and engage in such practices as profit sharing. Still, when all is said and done, if there is anybody who is going to leave the firm with a very large amount of capital, it is the original business owner. After all, he or she started the business and they do deserve the fruits of their labor. You cant argue that point.

2. Find a hobby and create a way to monetize it This is one of the best ways to make money. Though, to cash in on your hobby, first you must ask yourself, How can I make money doing what I love? As you can see, I used the word how instead of omitting it from the sentence, thus having the phrase read, Can I make money doing what I love. By using the word how your brain will begin to get creative and, more likely than not, you will be able to formulate some ideas. If you are simply to ask Can I make money doing what I love, your brain shuts down too quickly; it gives up. Phrasing entrepreneurial ventures with words that have an answer of either yes or no severely limit your chance of coming up with an original idea that could go somewhere.

3. Save your money People who spend too much money are never able to open their own business. Instead, they are a slave to credit and, therefore must rely on their employer for a steady paycheck. For example, your neighbor who just purchased that BMW on credit will be a slave to both high interest and higher depreciation. Because he or she buys things which they cannot afford, your neighbor must get a steady paycheck or they risk losing that German luxury automobile.

4. Be smart with your money Dont go and hire any stockbroker to manage your portfolio; most brokers are quite incompetent and are inaccurate when it comes to both bond and equity market predictions. Instead, learn the stock market yourself. If you read books by such people as Warren Buffett, Jim Cramer, Peter Lynch or the late Benjamin Graham who was one of the biggest influences in Buffetts career. His book The Intelligent Investor (1949) was Buffetts equity trading playbook for the majority of his career. You will be readily equipped with a whole lot of knowledge regarding the buying and selling of stocks. In time, you will become better than 90% of the professionals and, when this happens, financial stability is not in the too distant future.

5. Dont get divorced I had to say it because it is true. Not only will a divorce split your assets in half, the legal bills can prove to be enormous. Simply stated, be good to your husband of wife.

by: kas ksundheim

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