Archive | December, 2013

WEALTH CREATION STRATEGIES FOR YEAR 2014

22 Dec

Wealth creation has been here with us over time.We have read so much about it from every age till date and most of us cannot implement the strategies stated in those books. A lot of us find these strategies difficult but experienced people will tell us a lot about wealth creation. The first thing about wealth creation anywhere in the world is it involves a lot of sacrifices along the line.Gaining wealth is the first stage and maintaining that wealth over time is,perhaps, the most difficult stage. Consolidating wealth has always been a dicey affair from every angle you look at it. But the greatest wealth is having the right people around you all the time to implement strategies that can help to consolidate and increase the wealth. From Carlos Slim Helu to Aliko Dangote and the youngest made millionaire on the planet will reveal effect of having the right people manage your wealth or business at any given time.
As we say good bye to the outgoing year in style, lets give a big welcome at the door to the incoming year with a lot of Praises to Providence for seeing us through another turbulent but interesting year. For the next twelve days, I will outline how i gathered enough capital to be an entrepreneur over the period of twenty three years. Some of the strategies I will outline are still in use. Here we go.

STOCKS/SHARESYou can build your wealth using stocks as a vehicle. You can do that by setting aside an amount each month from your salaries and allowances or from windfalls to buy stocks over a period of your employment. They serve as a buffer against the unexpected and have been the proven vehicle for the richest men in the world over the centuries. Your first step is to get a stockbroker. Not just a stock broker but an adviser on equities.However, you also need to research a lot on any companies stocks you want to buy. There are three types of stocks or shares. Income or dividend stocks which you invest in because of a proven track record of annual dividends to shareholders. The other is growth stocks whose prices have increased astronomically over a period of time. The third is a stock that have a mixture of both.

CONSUMER GOODS DISTRIBUTORSHIP
This is the most uncomplicated business model. Consumer goods business has proven to be the shortest and the most effective way to get rich. If you start on a small medium or even large scale and are in a very good business location, there are advantages that are  inherent in the business. You enjoy commissions and licensee agreements that gives you an advantage over others in your business. Producers tend to give commissions and incentives to distributors for their starling performance over the years and that has been the major attraction to this business model. One can grow astronomically with little capital over time.

TRANSPORTATION AND HAULAGEThis is another high profit high risk business. Every one is moving from one destination to another each day. With little capital you can acquire a car or lease it to do this business. If you own one,it gives you an advantage over others. You can start by moving people from short distances and over time embark on the long distances which are profitable. You may enjoy charter services from high end executives who pay more for personalized services. A complimentary card,a short company profile or flyer detailing your services will open new opportunities for you.

 

Advertisements