businessbusiness habitsbusiness learninghow to become rich

How to become rich? The complete mechanism to become rich.

how to be rich

Hello everyone, this is Arpit Rana from learnsomebusiness.com and today I am going to teach you how to become rich. I am not joking, there is a complete mechanism behind becoming rich. So, let us start.

First, do you know how many factors contribute to being rich?

Only two!!

Income

and

Investment

Do you know what is income?

Income is the money that comes to you when you do any work.

Right?

Two types of income to understand how to be rich

how to be rich
how to become rich

But do you know there are two types of income-

  1. Active Income
  2. Passive income

If you understood the principle of income then you will yourself become rich.

So, first of all, Active income.

  1. Active income- This is simply income that you get from your job or business, that you primarily do. If you are a teacher in school, active income is what school gives you for teaching. Active income is dependent on your seniors and promotions.
  2. Passive income- Passive income is the income that you get from ‘side hustle’ As I said suppose you are a teacher who works from 9 to 5 but what work will you do after 5 and if that work contributes to your income, then it is passive income. This income source is made by you and developed by you. So, your growth is entirely dependent on you.

So, to be rich what you need to grow faster?

Income?

Yes, but which type of income you can grow faster?

Active or passive?

Active is dependent on seniors while passive is in your hand. So, passive income can grow faster.

Now, what a poor or average does is that he only focuses on active income sources but what we need to be rich is a passive income source.

So, find passive come sources like- rent building, websites, blogs, etc.

Once your passive income surpasses your active income, this is the time to grow passive income double of the active. Do it up to the day your passive income becomes twice of active income. Now you can comfortably leave active income sources and work for growing the passive income.

You can develop as much as passive income sources you like.

Now, do you know what is an investment?

Before understanding what is investment, if I give you 3 Million USD what will you do?

The two options are, you will buy a sports car or you will buy land.

If you buy a sports car, you will spend

and

If you buy land, you will invest.

What’s the difference?

A spend is something that takes money from your pocket and investment is one that makes money for your pocket.

So, as a car needs repair, service, petrol etc, it is spent. But the land will increase its price with years, so it is an investment.

Poor spend money while rich invests.

So, there are different types of investments and each investment involves some risk.

So, what you need to do is to understand the risk associated with investments and hence you can be rich.

Like- High-risk investments are share market and low-risk investment is bank saving.

But high-risk investment also means more money and more return, but it also means more risk of losing money.

So, learn investment properly before doing it.

So, these are the two basic things to be rich but I want to tell you one more thing. There is a habit in rich people that the poor don’t have. Develop that habit also.

The habit of NOT making EXCUSES.

Poor makes excuses for almost everything, rich people don’t make excuses and work until they get success.

So, these are the techniques of becoming rich? But what are the techniques of becoming a millionaire?

See you can be enough rich, but don’t have 100 million in your bank account. Is there any method of becoming a millionaire?

How to become a millionaire?

Yes, the method is the same of becoming rich but the only difference is that you have to invest your money in starting your business.

You may have seen that most of the actors, producers, etc. also do some side hustles apart from their main work. They start their own business and instead of investing in other’s people’s business, they first make their business bigger.

An example of this is Red chilies by SRK. Red chilies make movies for many stars other than SRK, even Amitabh Bachhan. As you all know SRK is the second richest actor in the world. I am not saying to just invest in your business and stop investing elsewhere, I am saying to invest more and primarily to your business.

See, starting a business and scaling it high to become a millionaire is no easy task. But if you want to become rich, you have to do it.

So, what are the simple business ideas in which you can start your business?

Well, there are many business ideas but what I suggest you for just becoming a millionaire is starting the business in the field about which you already know a lot. For example, SRK started his company in a business that is directly related to him. If you are a civil engineer, you can start your consultancy and construction business. Scaling a business high above requires too much hard work.

Apart from that, not everyone can become a millionaire. You need skills like leadership to start such a business.

Why some people become rich but never become a millionaire?

The reason for it is pretty simple, there is only one thing that stops people from getting success. That one thing is “showoff”. People start to buy expensive cars, waste their money on parties, etc. This ultimately reduces the money and leads to huge spent. This is a universal truth that more you will spend, more money you will lose. To make more money, you need to invest, not to spend. This is the reason why most millionaires never become billionaires.

Is there any mechanism to become a billionaire?

How to become a billionaire?

Well, of course, there is a mechanism to become billionaires like there is a mechanism to become rich. The mechanism for becoming a billionaire is different from becoming a millionaire and rich. Billionaires are the highest form of richness that a person possesses.

So, there should be something different in the process of becoming a billionaire.

Just tell me a very basic thing, what Elon Musk did?

What Mark Zuckerberg did?

What did Bill Gates do?

and what Ambani did?

They tried to do something new, that world or their country have never seen. They tried to make a business, out of a brand new concept. This is what billionaires do, they work in the unexplored thing. In unexplored things, there is very little competition and huge potential for making money. This thing changes everything, this is why nowadays we see online businesses as such a field. One day, you are going to find Arpit Rana in the billionaire’s list.

Apart from just making money from these known explored sources they also invest in many businesses of their own. They have a habit of expansion, they expand their business continuously. For example, look at Ambani from Reliance oil to jio. Reliance is almost everywhere. Expansion is the reason why you see reliance is so successful.

Look at Lenovo, when they were biggest in laptops. They saw potential in mobile phones and what they did they started making phones and even acquired Motorola from Google. Although nowadays things are not that good for Lenovo.

The point is the only thing that is standing between a millionaire and billionaire, in the long run, is lack of innovation and it also expands itself up to lack of expansion or lack of risk-taking power.

So, if you want to stand at the class of billionaires remember they take risk, mad risks. They don’t know the things will work or not, but they will take the risk.

So, up to now, I have told you the processes to become rich, millionaire and even billionaire. But what is the process to remain rich?

Hey, see money is not something that remains forever and everyone else is also rising so what is the method to remain rich?

You have seen that many people who were rich 20 years ago have nothing today and there can be thousands of reasons for it. For some people, it is spent, for some people investing in the wrong place.

So, what is the basic thing needed to maintain richness whether you are a millionaire, billionaire or anyone else?

How to continue richness?

Just look at the things due to which people lose either they spend all the money they have madly or they invest in a thing which has a lot of risks and loose money or one another reason is that they are entirely dependent on only one source of income.

Let us talk about all these points that can kill your richness.

First of all, remember one line spend like a beggar. It will keep you richer forever. People after becoming rich, start spending like a king. But that philosophy is wrong, spend like a beggar as long as you don’t have enough money to quit work and live a peaceful life.

Secondly, never invest only in the things which have too much risk. Invest in things that have low or zero risks also. It is good to take the risk, but keeping your entire money at stake is a bad idea.

Third, some people have websites making 1,000+ dollars per month just by affiliate marketing but this practice is entirely wrong. Always, make many streams of income. Because no one knows when someone defeats you or your stream of income gets any problem. Even if, you are just making by affiliate marketing I will suggest you make income from different affiliate sites. I even suggest to go for sponsored advertising, google adsense, providing paid services, etc.

So, the simple point is that when you can have multiple sources of income why to restrict yourself to only one?

But remember success comes by working on one thing at one time. So, always work on developing one source of income first and then moving to another source.

From where I know this much about money and becoming rich?

My source of knowledge is listening to the interviews with the rich people of a different class, I observed their ways and got my answers. I am not the first person who is doing this, if you have read the book “Rich dad poor dad” you may have known that the entire philosophy of observing the rich and learning from them is based on that book.

Factors that kills your chances to be rich-

  1. Procrastination
  2. Lack of adaptation
  3. Lack of risk-taking abilities
  1. Procrastination- People having a habit of leaving work tomorrow and that never tomorrow coming is the number one reason standing between you and your version of becoming rich. Kill procrastination, before it kills your future.
  2. Lack of adaptation- People having a lack of adaptation capabilities like not adjusting with other people or not working on new skills etc. always suffer from money loss sooner or later.
  3. Lack of risk-taking abilities- The biggest risk in life is not taking any risk, so the first thing you need to do is starting taking some risk. But don’t take a very big risk, take small risks and get small successes or small losses. In this way, you will grow your risk-taking abilities. A person who either takes too much risk or the person who takes no risk, both can’t be rich.

So, the key is taking small risks.

Lastly, be hardworking. Smart working is a good concept but hard-working is always important in life.

So, on which you should focus first richness, becoming a millionaire or a billionaire?

I will say, work in the exact pattern the blog is written, first focus on becoming rich, then expand up to millionaire and billionaire.

So, will you become rich or not?

How to generate successful business ideas?

How to become rich in India

Videos might be of your interest-

For English viewers- Credits- Clarity Coaching – Transforming Lives

For Hindi viewers- Credits- Sandeep Maheshwari

Don’t forget to like, share and comment. This blog is undoubtedly providing the best content on the entire internet.

0Shares

2 thoughts on “How to become rich? The complete mechanism to become rich.

  1. Hey, how’s it going?

    I want to pass along some very important news that everyone needs to hear!

    In December of 2017, Donald Trump made history by recognizing Jerusalem as the capital of Israel. Why is this big news? Because by this the Jewish people of Israel are now able to press forward in bringing about the Third Temple prophesied in the Bible.

    Jewish Rabbis have publicly announced that their Messiah will be revealed in the coming years who will be a leader and spiritual guide to all nations, gathering all religions under the worship of one God.

    Biblical prophecy tells us that this Jewish Messiah who will take the stage will be the antichrist “who opposes and exalts himself above all that is called God or that is worshiped, so that he sits as God in the temple of God, showing himself that he is God” (2 Thessalonians 2:4). For a time he will bring about a false peace, but “Therefore when you see the ‘abomination of desolation,’ spoken of by Daniel the prophet, standing in the holy place (Matthew 24:15)…then there will be great tribulation, such as has not been since the beginning of the world until this time, no, nor ever shall be” (Matthew 24:21).

    More importantly, the power that runs the world wants to put a RFID microchip in our body making us total slaves to them. This chip matches perfectly with the Mark of the Beast in the Bible, more specifically in Revelation 13:16-18:

    “He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.

    Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666.”

    Referring to the last days, this could only be speaking of a cashless society, which we have yet to see, but are heading towards. Otherwise, we could still buy or sell without the mark amongst others if physical money was still currency. This Mark couldn’t be spiritual because the word references two different physical locations. If it was spiritual it would just say in the forehead. RFID microchip implant technology will be the future of a one world cashless society containing digital currency. It will be implanted in the right-hand or the forehead, and we cannot buy or sell without it. Revelation 13:11-18 tells us that a false prophet will arise on the world scene doing miracles before men, deceiving them to receive this Mark. Do not be deceived! We must grow strong in Jesus. AT ALL COSTS, DO NOT TAKE IT!

    “Then a third angel followed them, saying with a loud voice, “If anyone worships the beast and his image, and receives his mark on his forehead or on his hand, he himself shall also drink of the wine of the wrath of God, which is poured out full strength into the cup of His indignation. He shall be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb. And the smoke of their torment ascends forever and ever; and they have no rest day or night, who worship the beast and his image, and whoever receives the mark of his name” (Revelation 14:9-11).

    People have been saying the end is coming for many years, but we needed two key things. One, the Third Temple, and two, the technology for a cashless society to fulfill the prophecy of the Mark of the Beast.

    Visit http://WWW.BIBLEFREEDOM.COM to see proof for these things and why the Bible truly is the word of God!

    If you haven’t already, it is time to seek God with all your heart. Jesus loves you more than you could imagine. He wants to have a relationship with you and redeem you from your sins. Turn to Him and repent while there is still hope! This is forever…God bless!

    “EITHER HUMAN INTELLIGENCE ULTIMATELY OWES ITS ORIGIN TO MINDLESS MATTER OR THERE IS A CREATOR…” – JOHN LENNOX

    We all know God exists. Why? Because without Him, we couldn’t prove anything at all. Do we live our lives as if we cannot know anything? No. So why is God necessary? In order to know anything for certain, you would have to know everything, or have revelation from somebody who does. Who is capable of knowing everything? God. So to know anything, you would have to be God, or know God.

    A worldview without God cannot account for the uniformity and intelligibility of nature. And why is it that we can even reason that God is the best explanation for this if there is no God? We are given reason to know or reject God, but never to know that He does not exist.

    It has been calculated by Roger Penrose that the odds of the initial conditions for the big bang to produce the universe that we see to be a number so big, that we could put a zero on every particle in the universe, and even that would not be enough to use every zero. What are the odds that God created the universe? Odds are no such thing. Who of you would gamble your life on one coin flip?

    Is there evidence that the Bible is the truth? Yes. Did you know that the creation accounts listed in the book of Genesis are not only all correct, but are also in the correct chronological order? That the Bible doesn’t say the Earth was formed in six 24-hour days but rather six long but finite periods of time? That the Bible makes 10 times more creation claims than all major “holy” books combined with no contradictions, while these other books have errors in them? The Bible stood alone by concurring with the big bang saying, “In the beginning God created the heaven and the earth” (Genesis 1:1); and says our universe is expanding, thousands of years before scientists discovered these things. Watch a potential life-changing video on the front page of http://WWW.BIBLEFREEDOM.COM with Astronomer(PhD) Hugh Ross explaining all these facts based on published scientific data. He has authored many books, backed even by atheist scientists.

    Jesus came to pay a debt that we could not; to be our legal justifier to reconcile us back to a Holy God; only if we are willing to receive Him: “For the wages of sin is death…” (Romans 6:23).

    God so loved the world that He gave us His only begotten son, so that whoever believes in Him, through faith, shall not perish, but have everlasting life. Jesus says if we wish to enter into life to keep the commands! The two greatest commands are to love God with all your heart, soul, strength, and mind; and your neighbor as yourself. All the law hang on these commands. We must be born of and lead by the Holy Spirit, to be called children of God, to inherit the kingdom. If we are willing to humble ourselves in prayer to Jesus, to confess and forsake our sins, He is willing to give the Holy Spirit to those who keep asking of Him; giving us a new heart, leading us into all truth!

    Jesus came to free us from the bondage of sin. The everlasting fire was prepared for the devil and his angels due to disobedience to God’s law. If we do the same, what makes us any different than the devil? Jesus says unless we repent, we shall perish. For sin is the transgression of the law. We must walk in the Spirit so we may not fulfill the lusts of the flesh, being hatred, fornication, drunkenness and the like. Whoever practices such things will not inherit the kingdom (Galatians 5:16-26). If we sin, we may come before Jesus to ask for forgiveness (1 John 2:1-2). Evil thoughts are not sins, but rather temptations. It is not until these thoughts conceive and give birth by our own desires that they become sin (James 1:12-15). When we sin, we become in the likeness of the devil’s image, for he who sins is of the devil (1 John 3:8); but if we obey Jesus, in the image of God. For without holiness, we shall not see the Lord (Hebrews 12:14).

    The oldest religion in the world is holiness through faith (James 1:27). What religion did Adam and Eve follow before the fall? Jesus, Who became the last Adam, what religion does He follow? Is He not holy? He never told us to follow the rituals and traditions of man but to take up our cross and follow Him (Luke 9:23). There are many false doctrines being taught leading people astray. This is why we need the Holy Spirit for discernment. Unlike religion, holiness cannot be created. It is given to us from above by the baptism of the Spirit. Jesus is more than a religion; He is about having a personal relationship with the Father. Start by reading the Gospel of Matthew, to hear the words of God, to know His character and commandments. Follow and obey Jesus, for He is the way, the truth, and the life!

Leave a Reply

Your email address will not be published. Required fields are marked *