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7 Steps to Building a Successful Business

Aug 17, 2007
Building wealth requires following a proven system to help guide you on your journey. Following a proven system considerably increases your odds of winning big.

There are seven steps to wealth creation that will help you conquer any defeat and rise to the top.

Wealth Creation Tip #1: Associate with successful people.

Associating with people who have demonstrated that building wealth is possible will motivate you to work smarter and flood you with new ideas. Plus, spending time with like-minded people enables you to stand up against any negative feelings expressed by your friends or family.

Wealth Creation Tip #2: Copy and swipe.

If you want to build wealth, then you need to mimic ideas from the experts. Pick their brains for ideas, and then innovate your own plan. As well, learn how successful entrepreneurs have marketed their products and services. What can you learn from them? Remember, it took them time to do the testing! Follow their proven marketing plans.

How do learn from your competitors? The best sources are their marketing e-mails! Be sure to also attend seminars to learn from the pros on a regular basis. Implement their system into your own life and business.

Don't try to reinvent the wheel. Modify the system to make it your own. You can do your own research for free or spend money. Working with a mentor or coach can cost money, but is well worth it. Either way, you will have to invest time, money, or both to rise to the top. Just be flexible and do whatever it takes to succeed.

Wealth Creation Tip #3: Your parents' lifestyle was different. You do not have to follow in their footsteps to create wealth.

Different generations have different mindsets and attitudes towards building wealth. Today people no longer work for many years in the same company. In fact, many 'little guys' have become millionaires through their home based businesses in the last several years.

The old way is not necessarily the right way. Many people who have 9 to 5 jobs have a fearful mindset. Their fear of the unknown may discourage you from going down a different path. Fear can stop you. But, faith moves you into action.

Wealth Creation Tip #4: Create multiple income streams.

Do not rely on one form of income. Instead, try to have many different businesses and diverse strategies. You never know which way the market will go. Try to team up with businesses and individuals. A join venture can help improve both of your businesses and financial situations.

Wealth Creation Tip #5: Confidence and fast action.

Millionaires act quickly and make decisive decisions in faith. Learn to follow your intuition and gut feeling. Even though it may feel odd at first, you will develop faith in knowing what is best for your success. There is a saying: "Do what you fear and the money will follow." However, be sure to always do your due diligence along with your intuition and gut feeling before embarking on anything new.

Wealth Creation Tip #6: Assess your assets.

Make a list of who you know and what you know. When considering partnerships, be sure to optimize your knowledge. For instance, your knowledge of marketing strategies gleaned in seminars or from a mentor would be valuable in a joint venture with someone who has skills which you lack.

Wealth Creation Tip #7: Always stay focused on education and action.

Be on the lookout for new ideas at all times in this ever-changing market. That's why seminars are great to keep on top of the latest trends and products. One new concept learned can make the entire seminar worth it. Then, be sure to act immediately on any new material learned.

Last, but not least, develop an entrepreneurial spirit. Your business is not your paycheck. Your business must be first and foremost your zest to be in control of your life!
About the Author
Ann Stewart, author of "With Wings As Eagles," motivates, inspires and encourages others to stand victoriously in their trials.

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