A lot of us wanted to live the best life the world can offer. After College, we look for jobs that offer the best salaries. We look for jobs that compensate well. We look for jobs that promotes often so we can have salary increases every now and then. Most of us believes that this setup will work for them and this will bring them ‘financial freedom’. Well, this might work for some but not for all.
The world we are living right now is not the same since the last two decades. Even the biggest companies are downsizing and layoffs have been the results. According to Kiyosaki’s Cash Flow Quadrant, we should be moving from the left part of the quadrant to the right part which is Business and Investments. Now, let me share to you 8 tips according to T. Harv Eker’s Speed Wealth Principles. This will guide you tips on how to gain wealth as quick as possible.
Harv Eker’s Speed Wealth Principles
1. Develop A Speed Wealth Mindset. Eker wanted proved that getting rick quickly is feasible and it is possible for us too. We should avoid depending on our employment but rather innovate and create solutions to start our own business. He also mentioned that most of us experiences career change at least six to seven times over a lifetime. “Just two decades ago, most people had a “cradle to coffin” mentality; jobs and businesses were a lifetime commitment. But, today, there is no such thing as job or business security.”
2. Deliver Massive Value. The law of supply and demand comes in place. Make sure that there’s a demand on your products or services.Remember that with high demands, you must be able to supply massive quantity and with high quality as well. It was also mentioned that we should take advantage of leveraging (Law of Leverage) because as a single person, we are very limited with our own energy, time and resources.
3. Choose The Right Business At The Right Time. Always put in my mind the quote “Timing is Everything. Go venture where demand is high and supply is low. We should take advantage of the new “global economy” where we are now boundless and limitless.
4. Systemize. There has been no successful business without a solid foundation. According to the author, “A business system is a repeatable process that produces a profil”. We should not complicate whatever business we may have. A business is as simple as Marketing, Production and Administration.
5. Duplicate. After you put up the business, don’t forget to duplicate. You are now with something you created successfully so what’s stopping you from getting another one up and running? There are many ways you can duplicate the business such as franchising and multi-level marketing. With these methods, you can earn even while you sleep.
6. Leverage. Remember you only have 24 hours a day. In leveraging, you opt to do more with less. Consider licensing where you earn thru royalties as well as add-on services and repeat sales.
7. Cashing Out. Put up your business with the intention to cash out from day one. Make sure that the business you have is profitable and have a system in place. You will definitely earn millions from it.
8. Do It Now! Life is short! Whatever you want to do, do it now. Whatever you want to be, be that now. Whatever you want to have, go for it now! When it comes to the important things in life, don’t wait until tomorrow, Tomorrow may not come. – Speed Wealth