Breaking News

Three things rich people do not do but advise you to engage in

Everyone admires the rich and wealthy and want to be like them. When they speak, everyone listens with rapt attention to gain knowledge from the words of their mouths. The truth , sadly enough is that rich people do not tell people how to be like them. It is either they end up giving you motivational talks or they tell you to embrace things they do not even do.
To this, let us take a look at three things rich people do not do but they advise you to engage in.

1. Save Money

Rich people will always tell you to save, save and save for the rainy days. Surprisingly, they do not save themselves. When they get money, they invest it and monitor it grow. The only thing saving will teach you is self-financial discipline. No rich man or woman made it through saving money.

2. Diversification of Business

You would agree that most rich people today are focused on one particular area of business. Even if they have other businesses, they still make one stand out than the others. Bill gates is sorely with Microsoft, Dangote is majored in industrial productions, Otedola is in the oil business. These rich people will always tell you to put your money into different businesses whether you understand the business or not so that your profit will come from different angles. It is quite good but understand that no rich man jumps from one business to another. They focus on one and build it will all they have.

3. Avoid Debt

Majority of successful businesses today started with borrowed capitals and loans. The owners of these businesses borrowed these capitals, invested it and worked hard enough to multiply it. But if you have ever heard them speak, they tell you to run away from debts and not borrow to start up your business because they feel you might not be able to work hard like they did. Do not get me wrong, it is super good not to fall into debt. If you have the required capital to start up anything without the need to borrow, please start up the business but if you have a great business plan and idea and you do not have the capital, you might not have any other choice than to borrow provided you would work really hard to get multiply it.

No comments