How to Get Rich: Ultimate Step-By-Step Guide for Beginners 2019

How To Get Rich: Hey There! If you want to Get Rich and you want to get rich with no money, then this article is surely made for you. In this article, we will be guiding you with Step-By-Step proven strategies that will make you rich.


How To Get Rich



Before Moving On, Let me first answer some Frequently Asked Questions about how to become rich.


How can I get rich quick?

If you are looking for an easy way to become rich. Then sorry, because I don't think that there is an easy way to become rich. All the tips given in this article are given by millionaires and billionaires and we have summed it up. But, we have not talked about getting rich fast. If you want to get rich then you will have to do both hard work and smart work. 

I would not say that there is an easy way. But yes, if you ask me the opportunity in any field or any medium that can help you to become rich. I would say- the Internet.

The Internet has the capability to make you rich. Sure, you will have to work hard here as well as there is no easy money. but, yes, compared to other occupations, working from home is a bit relaxing and convenient.

How can I get rich Overnight?

Here's the truth. There is no Overnight success. But yes, you can earn money while you are sleeping. And that's what we call a Passive Income Source. We will be discussing both Active and Passive Income sources in this article, so keep reading on.

There is only one way of getting rich overnight and that's winning a lottery. but, that's just a matter of luck. And we all know that every one of us is not blessed with that much luck. We have to create our luck own.

So, If I have to conclude that, then I would say that there is no Overnight Success. And if you see one, then remember that he/she became rich overnight, because of the hard work that they did in every other night that people don't want to focus on.


HOW TO GET RICH

Now, without wasting any much of your time, let's get straight into the topic.

This Ultimate Guide will be divided into 3 Segments:
The Beginning
The Journey
The Result
BONUS!




In each section, I will guide you through various ways to get rich Step-By-Step. In the end, there is also a BONUS TIP!

So, let's start with the first Segment: The Beginning.




THE BEGINNING:

In this segment, we will be discussing the initial steps that you can take to become rich. We will also be covering the right type of mindset you should develop in order to become rich.

#1: Develop High-Income Skills:

How To Get Rich

Now, In order to become rich. First of all, you will need to develop high-Income Skill.

A high-Income skill would be one that can help you to make at least $50 per hour.
You would be thinking, that's a lot!

But, If you want to get rich, then you should develop such skills that can yield you Income. High-Income skills may not be a huge thing like becoming a Programming Expert or something.

A High-Income Skill is accompanied by proper and intelligent mindset. Here are a few skills that you can Improve or develop to get some money:

Communication Skills:

Building Communication skill is a great way to start your journey. You would meet different kinds of people and If you are in a Job, you would know that Communication Skills are Important.

But How can it Help You?

According to India Today,
These are a few jobs that you can secure by improving communication skills:
Broadcast Journalist
Teacher
Radio Jockey
Publicist
Lawyer
Marketing Manager

These are a few jobs that you can do in order to become rich.

Online EARNING:

Now, Many people would be thinking, I am already in a Job, and I can't pursue these career options.
There are few Jobs that you can do as a Part-Time like of Tuition Teacher.

But, Still, If you do not want to choose these as an option, then you can find ways to Earn Online. You can get rich on the internet. Online Earning is a great skill that you can develop in order to get rich.

There are few jobs that you can do to easily yield an income that can maintain your expenses.



  • Data Entry Job: Data Entry Job may seem to be a small work but it can yield you a decent income in your initial days. According to PayScale, you can earn at least $2,054.79 per year making it to an Rs.1,42,126 in a year in India. Moreover, it depends upon your skill and work, and you can easily earn a few money in your initial days.
  • Blogging: Blogging Industry is a fast growing online earning way. If you like to write and you want to share knowledge on the internet then Blogging is one of the great ways to become rich. You can earn at least $200-$2000 per month. Few bloggers are even earning $20,000 per month through blogging making it to approximately Rs.13 Lakh in Indian Currency.
  • Youtubing: More than 85% of the population in India is shifting towards video content. One of the best platforms is YouTube. You can share knowledge on Youtube as well. You can earn at least $578 or Rs.40,000 per month. Again, it depends upon your hard work and the various strategies that you apply, you can earn even more than that.

So, these were the 2 High-Income Skills that you can develop. The skills are not limited up to just 2. There are various skills that you can master in order to earn money and get rich.

Business Skills:
We all know this one. At the end of the day, if you want to become rich and wealthy then the most practical way would be to own your own firm or a company. Because business is a great way to earn money and to grow your lifestyle. Sure, it takes commitment and you will need to take risks, but the reward that you will get is also worth fighting.

#2: Set a Figure in Your Mind:

How To Get Rich

If you want to become rich, you have to set goals. Just answer this question,

How much money do you want to make?

You would think " A lot of Money!".

But, have you really explained what is the amount of money that would be A LOT FOR YOU?

Set a figure in your mind that you want to earn. It may be like:
I want to earn $1000 in 1 week or 1 month or 1 day. It simply depends on how you explain and set your goals.

Many, people don't know how much money they want to make. Just set goals and have a Figure in Mind that you want to accomplish within the specified time.

#3: Have a Creative Mindset:

Most of the people are not able to become rich because they focus more on Competition rather than themselves. Now, spying on your competition is actually good as you can evaluate what their next step would be?

But, you should have a creative mindset instead of a competitive mindset. Eg: Uber Founder Garret was not able to get a Taxi on time. Rather than focusing on the problem, he started to think about the solution. He thought about how good that be if Taxi would be available for everyone with the help of the internet and they can all the taxi anytime and anywhere. This idea created one of the biggest American company, UBER.

So, do you think that to imagine such type of solution, you need a highly intelligent brain?

No. You just need a creative mindset.

Also, note here that most entrepreneurs make big businesses on the basis of reality. In the above example, Garret didn't do a job that required a highly intelligent mind. It's just that his presence of mind and his focus on reality was greater than everyone else.

How was his focus on reality?

The taxi was already present and many taxi drivers were also driving the taxi.UBER just provided a stage or a platform for the taxi drivers to get to the consumers easily and also helped consumers to get the taxi easily and at reasonable rates.

So, have a creative mindset and look for opportunities with keeping Reality in mind. Rich people like Jeff Bezos, Bill Gates, etc. know this and that's why they were able to build a massive and wealthy business empire.


#4: Act To Recieve Reward:

Great! Now you have developed few skills and have found out a way to earn more money and you have also fixed a goal for yourself.

Now, what?

Will you get to your goal by just thinking about it? Absolutely not. So, take actions towards your goal.
You have to Act to Recieve Reward.

There are many ways that you can opt in order to become Rich and Successful but you have to work for it. you have to give your time and energy into the task that you are doing. Give your 100% to every job that you have undertaken.

Spent some time to figure out what you can do and how you can do and make a blueprint and act on it.

#5: Create A Movement:

If you want to become Rich and Successful, then you would need people's support. Because they would be the one who will buy your products. To get your business going, you will need to Create a Movement.
Let's understand this with the help of an Example:

Jack Ma, the owner of one of the Biggest E-Commerce Giant-AliBaba.com, was really inspired by Wallmart. He also wanted to showcase the world, the efficient and value providing products of China, He gathered some people around and talked about his idea. The group supported his idea. Also, Jack Ma was not getting jobs from any company. So, he decided to take the Idea forward and built one of the Biggest Online Exporter-AliBaba.com.

See?

Creating a movement or simply thinking about others can make you rich To become rich, you will need to identify the problems that people are facing in day-to-day life. Then, built a product around that problem that would be the Solution to that problem. 

By doing this, you would get People's support and moreover, you can make a great business out of it. 

Your product should create a Revolution. A few Examples are:
Google, Amazon.com, and the Indian Company PayTm which brought online payment revolution in India.

To create a Revolutionary product, always remember to do something Innovative and try to do produce such a product which is innovative and is Unique at the same time.

THE JOURNEY:

So, we have looked at the various ways or ideas that you can implement in order to get rich. Now, we will be discussing the second segment in which you will learn the ways or tactics that you can use during your journey to becoming rich.


#6: Create a Scalable Business:

How To Get Rich

What is a Scalable Business?

A Scalable Business would be one which could be easily expanded and you can get profit from what you are doing. Try to make your Business which earns you a Passive income.

What is the difference between Active Income and Passive Income?

The main difference between Active Income and Passive Income is in Active Income, you will earn until you are doing the work. And the production or the process may affect if you are not present in your workplace. The best example of Active Income is Job.

Whereas, in Passive Income, you have to work to earn but you don't need to be there for the process to work and You can take a break and can go for a vacation but the production or profits will not be affected. Eg: Selling Book is a 1-time work in which you have to write the book 1 time, Publish it and then you can earn depending upon the volume of people buying your product.

So, you should try to look and generate Passive Income.

You should generate such a Business Model which is easy to scale and which attract investors and which easily get you some initial fundings.


#7: Provide some Value:

If you want to become rich, then your product must provide value to the consumers. The product should be made with implementing the right marketing strategies and by analyzing the marketplace.

Many young entrepreneurs do a mistake by launching a product straight into the market without analyzing the market and what the consumer wants?

You should not build a product that you think is best for consumers. You are not going to use it. So, always wear the shoes of the consumer and look at the product from there perspective. Look for what they want!

If you want to differentiate yourself from the rest of the competition then you should provide some value to the consumer. Ask questions like,

Which problem is solved by your product?

Is it product accessible to the consumer?
Do they really need this product?
Why they will buy your product?

Ask such questions to create a product that will provide some value to the customers.


#8: Money Management:

How To Get Rich

Here's one more tip that if you want to become rich, you should know the rules of money.

You know that 80% of businesses fail because of poor cash flow. The entrepreneurs are not able to get the idea that from where and how they will earn money?

They don't know their target audience. If you want to grow your business and become rich then you should know who has your money?

That is who are the potential customers that will be willing to buy your product. Evaluate the market condition and also look at customer behavior. These tips will help you to manage your money well in your business:

  • Look for the various sources from where you will get money which will help you to run your business and pay off any extra expenditure for the business.
  • Reduce your production cost as much as possible. More people are nowadays using the internet and have smartphones. Take advantage of this scenario and shift your business towards the internet. Eg: Amazon.com don't make any product. It just ships the product and tries to invest in its Shipment process, because most of the work is done by the internet alone.
  • Properly manage your accounting and try to look at the loopholes or liabilities that are extracting your money on useless things.
If you want to get rich you will have to practice how to use the money effectively and run the process smoothly. These tips will help you to prevent cash problems in your company.

But, to become Rich, you will also have to save your own personal expenditure, about which we will be talking in the next segment.


#9: Have Multiple Flows of Income:

My Mom always advises me to "Not keep all my eggs in one basket." Because if one will break down then there is a serious chance that it can spoil the other eggs as well.

The same scenario is in the case of Source of Income. If you want to get Rich then you should have multiple flows of Income. Because if one of the sources will not be able to yield money then you can depend on other sources of Income.

 It can happen that your business may not be able to give you the desired profit and maybe your company would be in losses. But, these situations will not affect you financially because you have other sources of income which you can use to re-invest in your primary business.

What can be the other sources of Income?

  • You can Deposit your saving in such a bank account which provide a higher interest rate.
  • Don't just invest in 1 company. Instead, try investing in various companies that can earn a profit. For this, you will need to learn the tactics of investing in a proper way.
  • It can be any of the Online Earning Options that I had discussed Earlier.
  • You can buy up local companies and merge with your company which would help to increase the Annual Income or profit of the company.

These are a few tips on diversifying your income source.

Rich people do not keep all their eggs in one basket. They have various sources of Income.

In your initial days, you should start with at least 1 source of Income other than your primary job. Because if you will try to have more Sources of Income in your initial days, then you will lack your focus and you may lose your money that can be helpful for your primary job.

Later, if you have some money and you think that you can manage more sources of income then you can do it.


#10: Read biographies:

How To Get Rich

Reading biographies of Rich and Successful people will surely help you in your journey to become successful and rich. By reading their stories, you can evaluate what you have done wrong and you can even learn from their mistakes.

Reading Biographies gives us access to their thought process. You can know that to become rich, you do not need money or you do not need to be born in a wealthy family.

Most of the successful business tycoons do not belong to a very rich family. It was their presence of mind and the way they dealt with various situations has helped them to reach the stage where they are.

Some of MY RECOMMENDATION are listed below:

7 Habits of Highly Successful People: BUY NOW!

How to Influence People: BUY NOW!
Think and Grow RICH: BUY NOW!
The Leader who had No Title: BUY NOW!

You should Read these Book as SOON as you can to get the knowledge and ideas faster and at an early stage.






#11: Take Risks:

See, If you want to become rich then you should take risks. By risk I mean Calculated Risks. If you are following our blog past few days then you would know that I have talked about taking Risk as one of the Small Thing in Life but we often neglect it.

Risk taking is an art and an attitude that you must learn. Warren Buffet would have not been able to become the richest investor if he didn't take calculated risks.

There will be a few instances where a problem may arise. Whether it's in your business or any other occupation, you will need to analyze the situation carefully and then take necessary actions.

As stated :
A Smooth Sea never made a SkillFul Mariner


Now, How would you take Calculated Risk?


  • Calculated risk is as its name suggest to calculate the situation and then take action.
  • Calculated risk can be taken by properly analyzing the situation.
  • To take a calculated risk, look for opportunities and then scan the advantages and disadvantages you will have while taking the risk.
So, to succeed in business or in life, you should take the risk.

Risk taking can be in any form:
  • To leave your current job and to work for your dreams can be a risk.
  • Introducing a new product in the market can be a risk because there will be no guarantee that the consumer will buy the product from you.
  • Dropping out of college is a risk. any students get motivated to pursue their dreams by dropping out of college like their idols(Steve Jobs, Bill Gates, etc.) did.
  • Giving massive discounts on your products can be a risk as well because there will be serious chances that you may face loss.

#12: Find Good Mentors:

How To Get Rich

To make your journey towards becoming rich a successful one, you will need a mentor or a teacher that can guide you in various situations.

Finding a good mentor can be tough, but you should look for them. You can start looking at your relatives or friends. Look at such individuals who are pursuing the same occupation as yours and ask them what they did right and what they did wrong?

Even after looking and spying all around, if you are unable to find a good mentor, then you can make use of one of the greatest mentor-The Internet!

Watch Youtube Videos, Read Blogs, Read Books of Millionaires and their autobiographies, read magazines, listen to podcasts, etc.

These are the various ways from where you can get perfect guidance according to your niche or your occupation.


THE RESULT:

So, Now, let's suppose that you have followed the steps mentioned above and you are earning a bit of money in your bank account. Don't get disappointed if the money you are getting is a bit low.

Instead, it's the best starting that you can get. Start Slow and you can keep growing then after!

#13: Focus on Earning, Rather than Saving:

How To Get Rich

Many people try to save money when they start earning a decent amount. Now, don't get me wrong!

Saving is the best way to ensure that you will have some amount in your bank account when you will need them the most. But, Most people think that Investing and Earning is the same task.

But, stats show that if you had Rs.1 Lakh then today it's value is almost about Rs.29,117. So, don't save your money on the basis of growing inflation.

In this stage, you should focus more on earning and then you can save. In your initial stages, don' try to save money at a serious note

When we give priority on earning more, we divert our focus on earning money rather than spending it. And if you will not spend it then you are saving your money in an autopilot mode.


#14: Make Your Money Work:

How To Get Rich

How you can make your money work for you?

The answer is quite simple and it's Investing.

Now, most of you will be thinking that Investing is a bit risky and the growth is very slow. You would be thinking that -"I don't even know about the share market and all that stuff. How can I invest?".

Now, I will be giving you a few of the Investing tips and the areas where you can Invest.

NOTE: But, before moving on, if you think that after Investing is the best way that will make you Rich Fast! Then here you might be wrong. Investing will earn you profit but you will not become Rich Fast. You will have to keep patience to see your money grow.

Here are a few Investing Areas where you can start off:

Stock Market:
One of the areas that I would suggest is the stock market. You can buy some share or portion of profits of the companies which can be a great source of Income. But, I would suggest that If it's your first time that you are Investing, Then Stock Market can be a Risky Task. So, Think Before You Invest Your Money.

Mutual Funds:
Mutual Fund is a great option for the newbies out there who want to start Investing. It enables you to buy not just one stock but a major portion of the profit of the company. What you have to do is, you have to Invest in Mutual Funds. And it will not be actually you Investing but it will be invested by an expert or a Mutual Fund Manager.

Gold:
One of the greatest options in Investing is Gold, and In India, most of the people prefer this one. Gold can be exchanged with Cash and you can use it whenever you need.

Real Estate:
It is also a great option to Invest your Money. Real Estate means the Asset like Land, Building or a house, etc. that an individual can buy which can be sold after a few years when the rate of the Land or the house will Increase.

You can check this out to know a few tips for investing.

#15: Stay Broke:

It's one of the interesting principles that most of the billionaires use and you can use it too to become Rich.

What this principle says is that you should spend the money that you have earned.

This principle is a bit contrary to the one that we have discussed earlier that is Saving.

Now, spending money does not mean to let it flow like water. You have to spend money by Investing in Yourself. You can even give yourself some rewards after accomplishing your task or your goal.

How Can You Invest In yourself?

  • You can Invest in Yourself by Joining various programmes of SelfDevelopment.
  • You should attend motivational and business seminars and training programmes.
  • Hire an assistant which will help you to prioritize your most important meetings and will keep a record of your schedule.
  • Maybe, go on a Vacation with your family to rejuvenate your mood and morale.
  • Start Writing Journal and record daily improvements and define your goals.

Why You Should Pay to yourself?

  • It is a way to motivate yourself.
  • You can gift yourself by few materialistic things like Watch, Car, house, etc. But remember that you should not get carried away by buying such materials. Buy only those things which are really Important.
  • You can give a reward to yourself to keep your self-esteem and your morale high throughout your journey to become Rich.
  • You can also experience the luxurious life that you have always dreamt off.

Why this principle is Helpful?

This principle is helpful because it allows you to stay away from your money. If you will feel like you have a lot of money in your bank account and now you don't need to work more, then you are wrong. To prevent this kind of attitude, it's a suggestion by many rich and successful people that you should stay away from your money for some time.


#16: Remove All your Debts:

How To Get Rich

Most of the people will not be able to become Rich and even you will not be able to become Rich if you will not eliminate all your loans.

If you will not eliminate your loans and your credits then a major portion of your income will be deposited in a bank. As a result, you will not be able to become Rich.

To become rich, you will need to eliminate all your loans, Step-By-Step. But How?

Do not worry, I have brought you another fabulous tricks and tips by one of the Leading Motivational Speaker Dr.Vivek Bindra. Here he has provided simple tricks to eliminate all your loans and credit.

STEP 1:
LIST YOUR DEBT BY INTEREST RATE:

Dr.Vivek Bindra says that the first thing you have to do is, just take a paper and a pen in our hand and then list out the various loans that you have taken. It may be Personal Loan, Home Loan, Unsecured Loan, Car Loan, Education Loan, etc.

STEP 2:
PAY INCREMENTAL GAIN EXPONENTIAL:

He says that Every Loan does not ask you the same Interest Rate. Every Credit has specified it's own Interest Rate. The Current Trends of Various Loans in India is as follows:

LOAN                                      INTEREST
Home Loan                                     8.3%
Car Loan                                         9%
Educational Loan                             10%
Personal Loan                                 12%
Unsecured Loan                              20%
Credit Card                                     32%

Now, Similarly, list down all your loans with specific Interest Rates. Now target at those loans which take most of your earnings. Try to Eliminate these Loans first. In this case, Credit Card Loan and Unsecured Loan takes the major portion of your earnings. Try to Eliminate these first by paying the major portion to these and then you can pay a minimum amount to rest of the Loans.


STEP 3:
SELL UNNECESSARY ITEMS:

Another Easy to Use tip is to sell the most useless stuff that is hovering in and around your house. Search for those things which you have not used since last 1 Year and you can sell it for at least 2-4 EMI's.

Selling Nowadays is easy because of the Internet. So, Look for the unnecessary items in your house and then sell it.

STEP 4:
TEMPORARY DOWNSIZING:

Here, Dr.Vivek Bindra is advising to Temporarily downsize your regular expenses. You can reduce your Gratification Expenses, Dineout Expenses, Entertainment Expenses, Unnecessary Monthly Subscription Services, etc.

Instead of wasting your money on these occasions, try to divert this amount in eliminating your loans, as fast as you can.  

These were some tips from Dr.Vivek Bindra that will help you to eliminate your Loans and Debts.


#BONUS:

How To Get Rich

You have just seen the Step-By-Step process that you can apply to become Rich and Successful. But, most of the people who are reading this article maybe Students. And some portion of them will not be interested in opening their own business or they do not want to do online jobs because of any reason.

They will be thinking that, How can I become Rich?

Guys, you can become rich with the help of a powerful tool called KNOWLEDGE!

It does not matter which subject are you pursuing, whether Engineering or Medical Field etc. But, you can too become rich by the power of Education. If you are serious about your job and you put your 100% effort to grow the company in which you are working, then you will receive fruitful rewards for your hard work.

Leaders like Satya Nadela or Sundar Pichai did not open their own venture. They were sincere about their job and tried their level best to uplift the organization, because of which the directors of that organization have made them CEO's because they think that these individuals can revolutionize the Company and its products.


CONCLUSION:

Wrapping up the guide, here are the key points that will enable you to become rich.


THE BEGINNING:
  • Develop High Income Skills
  • Set a Figure in Mind
  • Have a Creative Mindset
  • Act to Recieve Reward
  • Create a Movement
THE JOURNEY:


  • Create a Scalable Business
  • Provide Value
  • Money Management
  • Have Multiple Flows of Income
  • Take Risks
  • Read Biographies
  • Find good Mentors
THE RESULT:
  • Focus on Earning rather than Saving
  • Make your money work for you
  • Remove Debts


These were the crucial tips that will make you rich even if you do not have money. If you don't want to Invest then Online Earning is my suggestion.

You just need a PC/Laptop and a stable Internet Connection and you are good to go. After earning some revenue, then you can create an office and can expand the business in the traditional way by setting up a shop or something.


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Based On Your Interest, Here are a few articles that you should check out!
Habits of Successful People
The Leader Who Had No Title
7 Principles of Eagle


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Till then Work Hard, Be happy and it's Rahul Signing off!

Peace!✌✌✌

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