Wealth Secrets Revealed Here!
Follow me as I reveal to you, yet another secret to acquiring wealth below after the page cut:
• Pick a field where you can establish a monopoly – this is what Mexican billionaire Carlos Slim who from 2010-2013 was ranked the richest person in the world after taking control of the country’s entire telecommunications market did to become a financial powerhouse in the world today.
• Expand as quickly as possible – Amazon has eschewed early profitability to becoming the “everything shop” and as a result investors have poured money in to help them expand more.
• The worst place to do business is really the best – it is easier to dominate emerging markets due to the lack of competition and potential for growth. For this reason, I would like to encourage every serious investor or entrepreneur to find a way to explore Africa countries like Nigeria, Ghana, etc. These countries are emerging markets where you can excel fast and become a dominant unlike in Europe and America.
• Take risks with other people’s money – do all you can to encourage investors and then gamble their money rather than your own money. This is what Facebook did. Many top brand owners did same; they initiated a popular brand, attracted investors to their brand, who then poured in millions, and they use their millions to gamble for more money.
• To get rich you need to own your own business and property rights – Bill Gates’s Microsoft at one point had a 95 per cent share of the operating systems market, protected by intellectual property rights. Don’t expect to be rich working in a blue chip company; you will only end up helping others to become rich because no one can pay you what you are worth.
• Spin complex laws into gold – set up in industries bound by such convoluted regulation – for example agricultural subsidies and banking regulation - that it is easy to bend the rules as nobody understands anyway.
• Establish business networks – telecoms networks and shipping networks have created a lot of billionaires’ fortunes as they can squeeze out all competition.
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