Edition Maldives - EN

Startups

How to become a Millionaire, According to Science

26 April 2017 - 12:44

Ain

Travel enthusiast and market analyst, committed in promoting positive community growth.

Two people may do the same business, but one may become rich while the other remains poor. Just look at all the shops in Maldives. Some shop owners have expanded their businesses to have numerous large scale shops throughout Maldives, while others have stayed where they are, expanded slowly or even bankrupted. 

According to science, getting rich does not depend on the environment. If this was the case, everyone who try to do the same business in a certain environment will get rich. Every neighborhood has all walks of life, and only some get rich. Why is that?

According to Wallace D.Wattles (1910), people can get rich if they do things in a certain way, and the entire matter is brought within the domain of exact science. 

He also goes on to explain that this ‘Certain way’ is not as difficult that only few may be able to achieve it. This is because people with natural talent, blockheads, intellectual, and physically strong people and even sickly people. While the ability to think and understand is necessary to an extent, any individual who has the sense to read and understand these ways can get rich. 

The Key principles to getting rich: 

1.Thought 

The human mind is a powerful tool. Its ability to acquire and utilize information and data into knowledge is incomparable. Even the impaired have thoughts, humans were created to think and analyze. Every structure, form or shape build by man first existed in thought. So come up with a business idea that you think will work. Think and over think, analyze and understand what it is that you want to achieve, and how you plan to reach it. 


2. Read 

Reading and acquiring knowledge is one of the most effective methods of increasing your intelligence. You don’t really have to have a high IQ. 

Reading makes you knowledgeable and aware of the elements around you. Your mind becomes more open to new ideas, opportunities, business patterns and senses. One’s mind should be constantly fed with information that revolves around you. 

Reading is important in order to understand the business environment and help you take strategic decisions accordingly. 


3. Obsess 

While being passionate about your business is key to success, you need to become obsessed with what you do. You obsession is one factor that will help you take it to the next level. Entrepreneurs cannot build a giant company in one day. Staying up all night, working 20 hours a day, constantly researching and evaluating the business environment and how to improve your business are crucial at the initial stage. Being obsessed with constantly finding ways to improve will ensure that your business stays afloat in the competitive market today.  


4. Diversify your circle 

Meeting new people is always an eye opener. Try to meet people who are exceptionally different from you, from gossip queens to entrepreneurs. They will give insight to the market trends, business patterns and getting to know people who are completely different from you will ensure that you thoughts are stretched to think in more uniquely diverse ways. 


5. Don’t show off, be humble

Humility is one characteristic of most entrepreneurs today. Being humble and not spending the time to broadcast will keep your secrets safe. 

Moreover, instead of trying to prove others what you can do, focus on building you empire. You don’t need admiration or approval from others, but appreciate the few who stick around you to provide the support and encouragement that you need during your ups and downs. Be kind to those who need you, kindness will return to you in unexpected ways. 


6. Build your business network

Build a strong network of professional individuals. They can help you push the business forward. They can be mentors and also provide valuable insight into your business. Their experience will act to your favor and you will learn from it.  


7. Implement your idea 

Start working and implement your idea. Work daily 24/7 if you have to, until you reach the top. Even if you are unsure, just roll up your sleeves and dive in. It is important to take that leap of faith and get started even if it scares you. As you go on, you will understand what your next step is. 


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