The two methods the rich 🤑 use to get richer 💰
How to become rich?
The rich getting richer and the poor getting poorer is a common phrase used in everyday context by common man. It is because there is no standard formula for becoming rich and the common man is simply clueless how only a selective few are becoming richer as days progresses. It is said that ideas are always floating in the air and it can fall on anyone. When it falls on someone, stays and takes flight , it can change life of the person who implemented it. A precursor for becoming rich: An implementable idea.
All the rich now were once ordinary people like everyone and the difference is only in time. Some are just currently rich, some others became rich one generation ago and few became rich several generation ago and so on. But overall, in whatever field they became rich it is only in these two methods which they employed to become rich. It is only when they couldn’t plant their ideas any more and couldn’t take money from others pocket , they fall from the higher position of wealth.
The two methods which they use are:
1. Plant their idea into your head
There are two ways by which this can happen. Either a demand is found or a demand is created. When demand is found, it is from woes of people. For eg., you live in an area where the ground water is hard and people were adjusting with the drinking water quality for generations. This was affecting their quality of life as it isn’t healthy. You find an opportunity with this and invent a water filtering device to remove hardness and set up a shop to sell this device . People taste the soft water from your shop and purchase the device to be used at their home. You make money out of your idea and generate perpetual income by selling spare parts, services and upgrading filtering devices with improved performance.
Creation of demand happens when you invent something and create the demand with users although their won’t be any necessity for the users to use your product. An example for this is the smart phones. Although it is questionable that smart phones have made people more happy but what is purpose of having improved picture clarity or storage or processing speed? How updated versions improve the quality of life? People want to buy this idea for show off and it is more of a luxury…