MYTHS ABOUT WEALTH

There are certain myths about getting rich or building great business empire. Many of them are just belief that we adhere to but hard evidence prove the contrary that they are not correct.

Unfortunately some of these unproven myths are our guiding principle toward wealth creation, business building and getting rich.

# 1 People get rich only by having a “great idea”.

The truth about this is that it is not completely true. It is not about building a business around a complex product like software as did Bill Gates. In fact many did not get rich doing like him. Rockefeller did become all time richest man by dealing in oil which many dealt in and many still do. Warren Buffet accumulated many billions by going into stocks which many are dealing with in the New York stock Exchange and many have been doing before Buffet was born.

Getting rich can be about doing what many have are doing and what some have been doing before. Say the common idea thing. Take for example; Sam Walton did not invent chain retailing business. In fact he himself worked in JC Penny –a big chain retailing outfit before starting his chain. But see what his Wal-Mart dream have become-an organization always having a good top spot in fortune 500 companies list. Another person worth considering is Ray Kroc, the builder of the great McDonald. The first McDonald outlets were franchise deal he cut with Maurice and Richard McDonald.

If we have to go on we will continue reeling on and on examples. However the lesson is that yes an idea is necessary, in fact a great idea will go a long way. The idea has to be mixed with other ‘things’. In addition it does not have to be a new one i.e. you do not have to invent anything new to be rich. Henry Ford did not invent motorcar neither did Andrew Carnegie invent steel. For those who know Aliko Dangote of Nigeria they will know Dangote did not invent flour or cement (Flour MILL and WAPCO respectively have been producing them before he even started business). Old and well known idea can be the reason for a great business empire. Just as Raymond Kroc, took an available idea of fast-food to build the great McDonald Empire. He envisioned fast food at great efficiency, cheap price and branch-wide standard and he got billions of dollars.

Look for a human need and supply it. Develop a good and efficient delivery system. Push the idea with great energy and enthusiasm. REMEMBER HUMAN NEED ABOUND, LOOK FOR ONE AND FILL IT. Even to shit is a human need that needs to be filled.

©INSIGHT&PROJECT 2009