4 Steps To Wealth Building

““The harder I work, the luckier I get.”” – Lee Travino

If you want to be wealthy one day, there are four things you must do:

1. Master a financially valuable skill.

2. Develop a high income.

3. Invest conservatively in other businesses.

4. Invest aggressively in a business you know.

I’ll talk in more detail about each of these at a later time, but for today I’d like to clarify what I mean by “financially valuable skill.”

What I don’t mean is speaking French or ballroom dancing. These are great to know, and enhance the richness of your life, but they are not skills that people will pay you a ton of money for.

A financially valuable skill might include doctoring or lawyering, but for the purposes of this and future conversations, try to think of them as falling into one or several of three categories:

* speaking well

* writing well

* thinking well

Speak And/Or Write Well And They Will Follow You

In any organization or organized system, power moves inexorably to those who are persuasive. The means of communication you develop don’t matter so much. What counts is that you have a way to convince people that your ideas are worthwhile.

It goes without saying that you don’t need flawless grammar and a good vocabulary to be persuasive. They can help, but they are minor skills in the Art of Rhetoric.

All Difficult Problems Are Collections Of Simple Problems

By thinking well, I mean having the ability to analyze a problem and figure out its component parts – what it is made up of and how important each of these pieces is. If you apply this thinking to a business situation – say analyzing a market – you can figure out solutions before your colleagues have begun to figure out the problems.

Great marketers are really great thinkers. They look at a complicated market, break it down into understandable patterns, and develop a selling program that reflects those patterns. If you can figure out how to sell products/services when everybody else is throwing up their hands in despair, you’ll be rich and powerful sooner (probably) than you even want to be.

To make a high income (in excess of $100,000), you almost have to have one of these skills.

Spend some time today thinking about what kind of valuable skill you have and how you might use it to get your income up – at least to a hundred grand. More if you want more.

I’m exploring this and the other three wealth building steps – in a very practical way – in a new service, Making Paul a Millionaire. If you’re interested in a free trial for this service, check out the link on our website (www.earlytorise.com).