Which business will make you rich?
5 days ago - · - 25 Businesses That Will Make You a Millionaire in 5 Years · 1. Financial Services · 2. Eldercare · 3. Business Consultancy · 4. Investment Firm · 5. Media & Communication· 6. Education.......
What business will make me rich?
This question is answered in ‘What business is not a business?’, which is part of the book ’Foolish business‘. What you need to ask yourself is what business can be made rich and what is the source of your income? There are two types of businesses. One type is ”business“ and other is„ „income generating business.‟
The business that earns a profit is called the business and it is one where you make a commission or a salary or have an interest in what you sell. It is generally called a ‚business.´
For example, if you buy and sell things you do business in one sense, but you earn an income from that business so it cannot be called †business†. You earn your money by selling what other people buy. Your job is to find the people who need what your company can sell and to persuade them to buy it from you.
What business creates most millionaires?
There are two kinds of people, who are born and others who make themselves rich. It is said that people who have been born with money make the most of their wealth. The rest of the population will have to work to make their money grow. Money is like a magnet which attracts wealth, not the other way round. For example, if you buy a new car you do it because you want to have more space for your belongings and that attracts more belongings. Likewise if a business owner buys a car, he buys it for the prestige and image it gives him. That attracts money. When a person buys an expensive car he does not buy it just for his own sake. He buys to be seen and to attract money, just like the car attracts the money of others. So a millionaire is not a rich man who has money or who owns a big business. Instead he is someone who attracts rich people. If you attract rich and famous people around you, you will get rich too.
The more you work the more money you earn. The more money you make the more you have to work for. If you do not work, you cannot earn.
What business can be made rich?
The two main ways of making money are business and investing.
What is investing?
Investing is the process of buying a financial asset with the intention of selling it later at a profit.
What is a financial asset?
A financial asset is something that has value for people who own it. Examples are houses, shares, or other financial assets. You can buy shares in a company and it is your job to find out what that company is doing. If you find out that it is going well, you can buy more shares. If it is not going well you can sell some of your shares and buy something else.
What is the difference between business and investing?
You can invest in anything, whether it is a company, a share, or a property. Business is a particular type of investment, and it is the type of investment that you will probably be most familiar with. Business is the most common form of investing. For example, if you invest in a company, you will buy shares. You can buy shares in the company itself, in which case you are investing in the company, or you can buy shares in another company, in which case you are not investing in the company but you are investing in another company.
What is profit?
Profit is the amount of money you make when you sell an item.
What is income?
Income is the money you earn when you sell an item. It is what you get from selling something.
What is interest?
Interest is the money you pay for borrowing money.
What is inflation?
Inflation is the rate at which prices rise.
What is deflation?
Deflation is the rate at which prices fall.
What is unemployment?
Unemployment is the amount of people who are out of work.
What is recession?
Recession is the period when a country or the world economy has to make cuts in spending.
What is credit?
Credit is the money you give to someone to pay for something.
What does a credit card do?
A credit card is a card you can use to buy things. You pay for the things you buy with money from the bank and then you pay off the money you owe to the bank at the end of each month. The bank charges interest for the money you owe.
What does interest do?
Interest is money you pay for borrowing money, or paying money to someone to do something for you. Interest is the price you pay for the privilege of borrowing money.
How much does interest cost?
Interest rates are the amount of interest you pay.
What are savings accounts?
Savings accounts are places where you keep money you are saving for a particular purpose.
What is money market accounts?
Money market accounts are places where you keep your money. They are like a bank account for your money.
Conclusion
· Get involved early â€" The earlier investors participate - even just getting their friends signed offâ–¦the more likely they'll succeed! For example I started my company around 18 years ago from scratch at age 15...I invested $3000 dollars back then (which now worth about 4 million bucks) which made us very poor...but we had fun building our own computers....so i believe its better than working somewhere else...my point here..is dont procrastinate buy stock....buy right away, before everyone does.....and yes Im only telling u because im currently doing exactly what ur saying! :) enjoy :).
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