Tuesday

Misplaced Belief Systems For Creating Wealth


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A famous billionaire once said that even ordinary streets are paved with gold if only one will spend the time to see why.

Everyone could make wealth but the problem often is that a person is too preoccupied with negativity that the eye fails to see.

The following are misplaced belief systems that are firmly established in the human psyche that blinds the eye hindering the possibility of creating wealth.

The creation of wealth is directly proportional to the amount of hard work that a person is willing to take.
At the start yes, there is no substitute for that. After all, the person that desires to create more wealth will have to conceptualize, experiment, study and will, on many occasions be willing to make mistakes to learn more. Once the hard part is over, (for the most part it takes only a while) the person could hire hands to do the working for him.

There is no one person on earth who is a depository of all knowledge after all.
When that happens all that the entrepreneur has to do is provide directions based on lessons learned.

To amass wealth, you have to be in the right business.

But truly, what is right business and what is not? This principle drives people crazy. When the internet café for example was just starting, everyone scrambled to dip their fingers to have one. The result is to slice the pie thinner every time that ultimately results into weakened earning potentials for everyone concerned. Instead, start a business from things that you love most doing. The interest will be sustained that will be needed when encountering rough times. Even when a craze is started because of that, no one will do it better than the person who started it.


You cannot start a business without enough capital.

Again what is enough capital? There are businesses, lots of them that started from nothing. Capital is needed whenever available but when the idea is there, the enthusiasm and the energy is capital enough. No successful businessman today started with large capital. In fact most of them started with almost nothing. Big businesses are mostly inherited but they too started from almost nothing.


The idea has to be right.

Agreed, but if someone keeps on looking for it, a good idea will start somehow somewhere. The best person to be looking for ideas is the self. The things that the person loved doing or the make believe that the person enjoys when still a child is sufficient material for an idea.


Education is needed to start a business.

Wrong. Education is needed when seeking employment. When starting a business, goodwill is good enough. All successful businessmen for the last two hundred years were dropouts, have little education, or are simple sturdy people who refused to be satisfied with whatever chance and fortune came their way.

I am too old – is again another fallacy.

Many businesses have been established and made successful from retirement money. Age though has obvious limitations. The person may not be able to enjoy most of the fruits of the labor but who cares. When there is the desire to succeed, success it will be.

More than any of these, there should be a desire to do well. Successful businesses that lasted are anchored on that. It is the desire to make a change for the better. To spot a need and to fill that need is easy; to create wealth from filling the need is easier too. To maintain goodwill that aligns us all with every ideal that is best in us is not.

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WCR says: