Hello Steemians
Today I will help the steemit community by sharing 10 best tips I have ever received from my mentors regarding wealth creation,wealth management and life management. I really hope that my post will have a positive effect on everyone in this community.
#1 Try multiple things.
Trying many things at once helps to get a better feel of everything in this way everyone can find out things they are good at easily. It's very rare for someone to start 1 business, or to make 1 investment, and have it be massively successful. The most successful people are almost always people who have been involved in business for awhile and have tried multiple things.If someone starts 5 businesses and only 1 of them is successful - then they are successful easy as that.
#2 Do things efficiently.
While doing something if it is done efficiently then it is finished there there will be no need to do the same thing again but if it is done in a hurry then it takes more time editing the mistakes because of doing it in a rush. Doing things efficiently saves time. Time which can be used to better one self and a better self is able to make money more easily. Because Ideas flow more easily if it is free from all the extra thoughts.
#3 Not doing useless stuff.
A day is limited by its hour and if this precious hours are wasted then they cant be retrieved. Texting all day every day,spending hours every night on mindless games,hanging out with friends who aren't productive and don't have any goals of their own,going to 7 parties a week all these things take up many precious hours from a persons life.
No one has to stop doing every random thing, but should make a list of some of the things they do and figure out which ones you're just spending way too much time on.
#4 Not to be a perfectionist
I find it's better to just roll out my projects and have it be a 8 out of 10 to get it out there and experiment with it is better than to wait a long time for a 10 out of 10. It is better to have 5 money streams that are 8 out of 10 then just having 1 and if for some reason if that money stream is dried up then it can spell disaster.
#5 Saving money
We should always save a portion of our money, however small it is.
If you made $50,000 last year and you spent $50,000, that's stupid. You need to be saving SOME of it so that if you have something happen unexpectedly, or if your businesses has a couple off-months, or if you just see something that you really want to buy, you can afford it.
#6 Investing the saved money
When it comes to investing, I divide my money some of my money goes into my own ventures, my own ideas and some of it goes to many type of online and offline assets.
I highly recommend getting into investing at a very young age, because at that age no one actually needs that much money so it is better to play around with investing it and learning things early, so by the time you're older you're way ahead of everyone else when it actually counts more.
#7 Starting a business
Now a days it is vary easy to start a business and I recommend just jumping into it and Learn the business as you operate it. Don't try to read a hundred books and consult with dozens of "experts" beforehand. Read a few books, talk to 1 or 2 people if you can, and just start experimenting doing stuff and you will figure things out as you go. It's good to plan it out, but at some point you just have to get into it and start DOING. As said by my mentors almost all of there business knowledge came from actually trying things and figuring it out by themselves.
#8 Asking for help
No one should do everything by themselves. It's a waste of time. If someone is good at something and they are willing to help there is no shame in getting help. Hiring help also works fine for example if you're starting a website, and you're not that great at graphic design, instead of spending 2 years getting good at Photoshop just hire a designer to do that part of it for you. Sites like freelancer.com and Upwork helps to find freelancers in pretty much any skill needed, from graphic design to web design to marketing.
#9 Earning Passive income.
Passive income is anything that earns you money when you aren't directly working on it.
For example if you invest in stocks, then those stocks can be earning you money while
you're doing other stuff.
Stocks are a relatively safe way to make some money, however unless you're really really
good at picking them, you probably won't make THAT much.
I personally buy stocks in companies that I really like, for example Amazon, Intel,
Apple, Netflix, and Google.
Amazon is my favorite and I think they're gonna keep going up long-term
Cryptocurrencies are another good option if you're into riskier bets.
There are many of them to choose from but if you want to get into it you should
always do your own research because there are a lot of fanboys who will give inaccurate
info.
Other forms of risk free passive income are more appealing to me like making videos and articles that can add value to any one reading of watching it
#10
*Avoiding Debt.
Avoiding debt is the key to success if some one cant afford an I phone X then he should not buy it going into debt. Debt hinders success.
*Investing more than anyone is willing to loose.
This is the most important thing to remember
Investing means taking risk in return for a possible reward.
Not a guaranteed reward.
If you have 99% of your net worth in the crypto or stock market you are waiting to fail. Investments aren't guaranteed, so don't invest more than you can afford to lose.
I don't even consider ongoing investments as money, I just consider them as ongoing
risk. I only "count" them my money when I actually convert them into cash, because I know there's a chance of them crashing and burning at any time.
*And finally... caring way too much about money.
If money is the #1 most important thing in your life, you need to take a step back.
Money is not everything.
In my mind money has 3 functions: (1) it allows you to live comfortably, (2) it allows you to
buy things that you can use to improve yourself, like books, audio books, notebooks, a computer
so you can get on the internet, and so on, and (3) it serves as a distraction.
If I only have #1 and #2, I'm good.
But most people get really caught up on #3, they NEED money so they can buy super cars and new clothes every other week and take girls out on expensive dates and buy expensive drinks and all that.
You don't need any of that.
Those things are all just distractions.
They can be FUN, but you should recognize them for what they are, and not worry too
much about them.
If you follow these tips properly your path to successful will be much easier and hopefully by the end of this you year you will be a wealthier person.
Thank you for giving me your valuable time
Sadman733
Disclaimer: Nothing in this article should be taken as investment advice.
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