IDEAS FOR WEALTH CREATION

Wealth Creation Idea #1

Multi-level-marketing or network marketing. Using this strategy you can start a business from scratch for practically nothing and use your pure effort and enthusiasm to succeed.

There are many networking marketing companies in India, the big ones most have heard of include Amway, Tupperware.

To succeed in this wealth creation strategy you’ll need to have a keen ability to sell and market. It’s not called ‘multi-level-sit on your ass and do nothing’. You gotta get out there, to practically everyone you know and then some to build your business.

Wealth Creation Idea #2

Shares and share trading. Shares are a timely wealth creation method if you know how to use them. The Indian share market is now very strong and has a large base – it’s no longer the tiny market.

There are a million and one share market strategies under the sun and some work and some don’t – plus some will work for you and some won’t. It’s up to you to find your method of making money on the market. There are many books, seminars and courses on the subject, but Warren Buffet’s says it best:

Rule Number 1: Never lose money
Rule Number 2: Never forget rule number one.

Wealth Creation Idea#3

Option trading is a newer method of making money through shares. There is significantly less risk and possibly greater returns when writing covered called. There is significanly more risk when writing naked. You can also buy options and make a lot of money if you know how.

You will succeed at this only if you have the right education because no matter how easy people make it seem, options are a bit difficult. You really need to know what your doing so you don’t accidentally put your cash down the tanker. Always a wealth creation idea worth looking at.

Wealth Creation Idea #4

Property investment still holds strong as a great wealth building method. This would have to be a favourite of mom and dad investors and almost every Indian either invests in property or knows someone who does. It’s no wonder this caught on as a wealth creation idea.

I’m not a fan of negative geared property as a wealth creation idea because the freedom it provides is a delayed fallacy. Positively geared property is in fact a solid wealth creation idea.

Wealth Creation Idea #5

Property development and/or renovations is a faster method for making money through property if you are willing to deal with building tradies and project planners. This is a truly active wealth creation idea that you can use to flip properties and returns of hundreds of thousands or even millions a year is nothing out of the ordinary. Yes you read that correctly.

If you are interested in making the big bucks fast then you’ll need to know how to create massive value out of a dead broke piece of land or property. If you have a knack for seeing things new and improved in the future – if you are a bit of a visionary – this might be the idea for you.

Wealth Creation Idea #6

Property options, sandwich leases and creative financing are all newer methods of making money with property where usually you don’t even have to own the property to profit from it. These strategies have been used by the pros’ for as long as it was legal but it’s becoming more and more mainstream.

The benefits of these wealth creation ideas is that you don’t need money to get going. This is very attractive for many without money. You don’t see many wealthy people searching online for wealth creation ideas now do you?

You could find a great piece of land for a property development and sell it to a developer for a finders fee. You could find a house that wasn’t selling, get an option on it at a discounted below market price, with a delayed settlement period, the creatively finance it to a buyer and sell it to them for market price

There are a million and one ways to do this, and mixing in a bit of renovating too is popular.

Wealth Creation Idea #7

Internet businesses are a great wealth creation vehicle. Anyone with a bit of training can start a website and build an internet empire from their bedroom or spare study. Internet Marketing is absolutely huge these days and it is getting bigger and bigger. I’m sure you can realise the power of the internet – no doubt you used google to find this site and are now reading information on the internet!

Youtube is exploding and there are many youtube millionaires… Justin Beiber anyone.

Facebook is exploding… no wait that’s an understatement… Facebook is taking over the world (evil empire warning) and you can market and sell on facebook very easily.

"If a business large or small doesn’t have a website they aren’t considered to be in business"… that was quoted over a decade ago.

If you aren’t online or marketing online you are missing a big piece of the pie. This is a wealth creation idea anyone with $10 in their pocket can use to turn into massive passive income – we’re talking from zero to a six figure income in the matter of 1 or 2 years (and that’s working on it part time)

Wealth Creation Idea #8

Ebay businesses are similar. Almost anyone can use ebay to sell product. When selling on ebay you need to have physical stock though which is a tad annoying, unless you know how to dropship.

Many people have started with a little wealth idea and started selling stuff from their house on ebay. It’s nice to get rid of all that spare stuff and get some free cash. By identifying a bit of a niche you’d be interested in and working with a dropship supplier you can sell products on ebay and have another company ship it.

Wealth Creation Idea #9

Mainstream businesses. These are the tried and true methods of building wealth. Start a great company, get bought out or go public and you will be rolling in it. This is still the predominant wealth creation method most people use.

Building up a solid business takes time…. Just tell Dropbox that who went to 240 million in their first year and is now worth 4 billion in their second year. Yes 4 billion in a year.Read here to learn how they did it. Did I hear you say… well that’s just dropbox… let me rattle a few names off for you: Evernote, Digg, Reddit, Technorati, Groupon, Farmville, Zynga… Need I go on?

Now I know what you are thinking ‘these are all technology companies’. Yes they are. First, look around – we are in a technology age. You are using a computer with the internet right now. No doubt you have a smart phone you use all day, to sms, facebook and the like. You probably have a smart tv with high definition… we live in a new technology world.

Wealth Creation Idea #10

Creative idea selling. Not many people know about this but you can actually make money by thinking up great ideas and selling it. You can do this through patents or copyrights or working as a creating thinker with royalties.

Where do you think the idea from Dropbox came? It was out of a creative think tank in the Silicon Valley. Yes they actually made up the idea and then put it into action, creating billions in the process.

You can think up ideas and sell them. Everything from ideas for new books or novels to business ideas. This is truly a wealth creation idea for those who are genius.

Wealth creation is simple if you know how. It’s been proven time and time again you can go from zero to millions in a year or two – and the new bar is zero to billions in a year or two. But you don’t have to be a billionaire to be wealthy (and in fact I don’t know why you would want to be) but having a few million to spare and some nice fat 6 figure passive income certainly would make life a lot easier.

The best idea is this – KNOWLEDGE IS POWER

It’s not that hard to make money. It really isn’t. Keeping it, growing it, and using it to it’s fullest potential to create a life you love is the more difficult part. These 10 things are all realizations, tips or strategies that have made a big impact on my life in the last two years in particular. Since leaving my job I’ve experienced bigger challenges in my life than I ever faced before (and I didn’t steer clear of challenges before … it’s just that independence is a whole different animal!), and bigger moments of job and achievement. It’s been a wild roller coaster ride of glee, fear, and excitement and every day the ride gets more and more rewarding. I wish the same for you.