Ideas to Be Rich at a Young Age - Part 5

Welcome in part 5 of "Ideas to be rich at a young age".  In last  1 part ,2 part ,3 part ,4 part, we have covered 2 steps to ...

Welcome in part 5 of "Ideas to be rich at a young age".  In last  1 part ,2 part ,3 part ,4 part, we have covered 2 steps to be rich at young age. You need first step to growth your brain. Your brain must not of a small kid. You brain must be intelligent person. It has to create wonderful ideas of success in the life. Next second steps, you have to implements these ideas with your great plan and strategies. Growth of plan is must. Single plan always the thinking of a failure. Multiple plan is the sign of success. If one fail, other will get success.

Now, come to understand the third step of IDEAS to BE Rich at a Young Age part 5

3rd Step : Growth of Actions on the Ideas or Development of Your FAST DECISION MAKING

In this, you have to think idea, how different creative ways, I take action on my ideas which is under the plan. For example, you have the idea to fit with walking but you bored with plan of simple walking but your creative mind is never give from taking action. So, you have started reverse walking and be more intelligent to achieve your goal. So, this idea is your action idea. Like this, you have to use it in also business.

Idea # 1 Taking Wrong Action is Better than Not Taking Action

It is good if you take any wrong action. It can be later improved but if your will not doing action, you can not improve. For example, you are unable to increase sale after doing everything and you are giving up. STOP and

again take action with new ideas.

again take action to finding what are reasons of not increasing sale

again take actions to try again to promote your sale. For sending your arrow in your target, you have to send it many times wrong side.

Poor Action = Only hard work

Rich Action = Action on improving your thinking

Action on improving your action

Action on repeating your action

Action for making your habit

Action for making your rich life style

Idea # 2  MAKE Good HABITS 

Yes, our brain does millions of work in a day. It is scientific prove truth and brain uses your habits to take next action automatically. Brain does not have time to select what are your good or bad habits. It does not care where you write daily good or bad as your habit on same time. It will just alert you to take action at 9 am to write and if you have good habit to write everyday, you will write 12 months, 30 days, 7 weeks and everyday on 9 am. You can not stop because it is your good habit and brain has given great force to you.

Why not make the good habit of rich person.

Following are the habit of rich person

Habit No. 1 They Learn Accounting and Daily Manage their Accounts

Whether rich person does not have the time but they all learn the accounting with accounting course and accounting ebooks and financial statements. Even they have the accountant who pass the journal entries of each transactions in the their software and after every transaction, they check their own balance sheet. They have learned the difference between assets and liabilities. They focus to increase the actions to increase the assets and decrease the liabilities.

Their accountants record daily incomes and expenses

Their accountants record daily assets and liabilities

 With this, they can track their expenses and liabilities and develop decision making to control expenses and liabilities.

So, either  you or your accountant must maintain all accounting of your business. It is must for growth of your business.

Habit No. 2 They have the Team of Professionals

Rich person has the habit to take advice from professionals

In this team, they have

1. CA

2. Advocate

3. Stock Brokers

4. Real Estate Brokers

5. Insurance Agent

6. Bankers

They give them fees and they get their advance professional services. With this, they improve their actions for improving their business.

Habit No. 3 They Read Daily Motivation Books, They Listen Daily Motivational Audios, They Watch Daily Motivational Videos

It is the habit of rich person, they take action for reading daily 1 hr motivational books, audios and videos. With they enhance their energy to take better actions.

Even a second, they do not waste.

When they are in gym, they listen motivational audio ebook

When they are eating, they listen meditation.

When they are free, they listen music.

They read also business magazines and update with business news. For example, if a news comes, that a company is growing fast. They buy his shares after advice from professionals, checking their accounting statements and same $ 1 share, they sell at $ 1000 and become rich at young age because they are motivated and they are young and they are updated.

Habit No. 4. They Do Small Risky Work Daily

Everyday, they do some small risky work. It may be invest in real estate, invest in gold, invest in advertisement, invest in own business, invest in employees. With this, they got the stamina to tolerate risk and they become fearless.

Fear from failure is second name of poor all time. Because fear brings only negative thinking in them.

Habit No. 5 They Take Only Positive Action

Everytime, they try to best to think big and take positive action. They do not speak poor words like I do not want to live as poor person but reality is that he wants to be poor because he has focused on his poverty.

They convert negative thought to positive thoughts with positive actions

They do not do negative actions because it is not his habit

Negative Action

Do only hard work

Positive Action

Learn, how will my money do hard work for me.

They never keep vacant to his money. They move their money from buying and selling, buying and selling. They take action to increase the movement or velocity of money.

They send money to market and then get money with profit

Again send money and get money with profit like a hunting tiger.

They use following Strategy to Increase the Velocity of Money

1st Strategy : They do real estate business with his other business

With this, other business will income and they will also get rent income and rent will never their expenses. This is hunting tiger strategy

2nd Strategy : They calculate Double of their Money in Advance 

With trends, they try to see when their money will double. For this, they use simple formula

72 / rate of return

If rate of return is 10% per year, it means, within 7.2 years, their money will double. So, if other scheme is just return 5% which give double ins 14.4 years

So, they take money and invest in 10% return scheme

3rd Strategy : They Do not Play with Own Principle

If they see the share price has doubled. Rich people sell the half shares and withdraw, their principle and use principle in other scheme and play with profit there. With this, they rich fast.

4th Strategy : They Love to Buying New Investment

In this way, if they see any past investment is not giving profit from long time and trend is loss. They sell it and love to buying new investment and cover past loss instead waiting same lazy dog investment.

They know out of 10 investments

4 are lazy dogs, 3 are bad investment and 3 are good investment

Lazy are bad than bad investment

bad investments means no growth

but lazy investment is trending of loss, loss and loss.

5th Strategy : Special Plan for Investment

They analysis first 100 types of investment

They offer to 10 best investments

3 Accept their offer

1 rich person buy.

This ratio of rich investment plan

100 : 10 : 3 : 1



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Krantikari Blog: Ideas to Be Rich at a Young Age - Part 5
Ideas to Be Rich at a Young Age - Part 5
Krantikari Blog
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