The 3 step formula to wealth – especially if you are just starting out

How do you create wealth mostly if you are just starting out and have no money?

The 3 step formula to wealth – especially if you are just starting out

What if you already have something going? How do you build on it for more wealth and growth? In this content, we’ll look at the simple, easy to understand and follow three step wealth formula. Depending on the stage that you are, work your way up from any of the three step methods below.

  1. Dead broke? Get a job – I have seen many young people who are still being fed by their parents or who are not able to fully support themselves, sit and believe in the power of that ‘one idea’ that will take them to the top overnight. They sit all day, plan, daydream, plan some more, daydream again, repeat. They bounce back to reality by hunger as they get up to drink their garri in peace. 

Know this and know peace – it takes capacity to build capacity. It takes resources to actualize dreams. You can’t be in level 5 and daydreaming one “idea” that will push you to level 100 overnight. Do people get lucky with such, yes, they do. They 1% outlier. The reason people do this most times is this - people don’t want to follow due process. So they hold on to the thought of that one “big idea or business or plan” that they believe will take them to the top overnight. If you want predictability to your life, less avoidable pain and hurt, practice this.

Get those small wins for they catapult you into the big wins. And when the time for the big things come, you would have gathered the resources, knowledge to take advantage of it. ''You don’t blow, you grow”

So apply for that job, do that small business that brings those small wins. It is all part of the growth process.

2.Learn a high income skill: The second category of people in the wealth triangle are those who have a job already or are already engaged in a side business. People would say that they would save up from such jobs to start a business. For C-level employees, this would be easy to pull off. However, for most young people, who are in entry-level roles with minimal pay that is barely enough for their upkeep, it’s not the best of advice. How long will you work before you can save up something tangible from a low-pay job to start a business?

Do this instead - from the money made from that job or side business, pay and learn a high-income skill. While there are lots of good skills in this digital world, tech and digital skills have proven to be the most flexible, have a low barrier to entry, and highly rewarding of all. Learn high-income digital skills as programming, SEO, Social Media and Google ads, email marketing, etc.

PS: Affiliate marketing is NOT a digital marketing skill, it’s just a business model online. You are welcome to comment below.

3.Start a (side) daily income business: With the money made from your high-income skill, start a side business, mostly a side business that brings in money on a daily basis. Understand this, once you start making money, the aim should be to stabilize your income. A system that brings in money monthly, where you are okay enough to pursue your bigger goals. Mostly, people get stuck in level 2, where they are seeing some money and then hope to make the magic leap from there. This is why people miss important opportunities that require little financing because they don’t have the systems in place to help them grow into what they are pursuing. Stabilize your income with a side business before you seek the big contracts.

As the holy book says, wisdom is profitable to direct. If your old tactics is not producing the expected results, then it is time to try something new. People often underestimate what they can do in 4 years, and overestimate what they can do in 6 months. Depending on where you are, start from there and grow. Still looking to dodge process? ….

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