How To Create Wealth in a Deplorable Economy

Many in our world today want to become rich and wealthy, and financially free but do not know how or do not act on what they know.

In fact, many people are falling into poverty daily due to the bad state of the economy of their nation.

In Nigeria for instance, according to this Word Bank report, 40% of the total population, or almost 83 million people, live below the country’s poverty line of 137,430 naira ($381.75) per year.

Many more are falling into poverty daily, only a few people know how to make, manage and multiply their money.

So how can you create wealth in a deplorable economy? One so bad that you can become poor for the rest of your life?

Wealth creation is the key. As the name implies, wealth creation is wealth that has to be created. Just like any creation requires a creator, raw materials, and a process, so also is wealth.

Rather than sitting down idly, waiting for the state of your country’s economy to improve, I’d advise that you start creating wealth for yourself.

How can you begin to create wealth for yourself? These are the 8 steps you must take:

8 STEPS TO WEALTH CREATION

1. DISCOVER YOUR GIFT/TALENT/POTENTIAL

In life, your GOLD is tied to your GIFT, your TREASURE is tied to your TALENT, and your PROFIT is tied to your POTENTIAL.

The first step towards wealth creation is discovering what you have in you.

No one is born empty. We all have at least one gift, talent or potential that can be discovered, developed, and deployed to create wealth.

Instead of roaming through life aimlessly and hoping for a lucky day, look in introspect and figure out what you can do to create wealth that will last many generations.

Anyone who wants to create wealth must concentrate on discovering what he/she has so that his/her journey of wealth can proceed.

2. DISCOVER YOUR TARGET MARKET

Every gift, talent, potential, product, service etc. has a market.

After discovering what you have, you need to find out who needs it and where.

Not everyone will want what you have, the key to figuring out your target market is to find out what your offer does more than everyone else’s and whom you think would benefit from it.

People only pay you for the value you created just as money can only flow in exchange for value.

If you want to learn how to increase value, I suggest that you read this book now.

So, discovering your target market helps you to speed up your creation of wealth.

Your net worth is determined by your network, so the bigger your market and target network the greater your income.

3. DEVELOP YOUR PRODUCT/SERVICE

Like I said earlier, money only flows in the direction of value, and you cannot get something for nothing.

Without a product or service, you cannot create wealth because you are not bringing anything to the table.

Ever since I came out with the School of Money book, I’ve sold millions of copies and it’s still selling currently.

It’s a best-seller worldwide and has been translated to over 5 languages.

Ask yourself, “What product can I create? What services can I offer?”

Do a SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats) and come out with products and services you can exchange for money and you will be creating wealth.

Are you offering solutions, solving problems, or answering questions? Then you are already creating wealth.

4. DEVELOP YOUR BUSINESS UNIQUENESS AND PACKAGING

Once you discover what you have and your market, you now need to carve out a niche for yourself.

To do this, develop your own uniqueness and package yourself.

What I mean by this is people will first buy into you before they buy what you are offering.

Therefore, it’s important that you develop yourself mentally and physically.

Develop your sales and marketing skills as well.

Next, package your product and your service to reach your target market and get a chunk of the market.

A good product with bad packaging will definitely fail, whereas a bad product with good packaging will do well.

Imagine having a good product with very good packaging.

Your uniqueness is what separates you from others in the market and your packaging goes a long way to determine your patronage.

5. PUBLICIZE YOUR PRODUCT/SERVICE

It has been said generally that products without publicity are like winking in the dark and expecting a response.

Good product + No Publicity = Bad Sales
Bad Product + Good Publicity = Some Sales
Good Product + Good Publicity = Great Sales

You need to maximize every opportunity you have to let people know about your product and service.

If people in your network do not know that you offer certain products or services, then are you really selling?

Use word-of-mouth to get the word out there about what you sell, talk to people in your network, your family, their friends and families and so on.

6. MARKET YOUR PRODUCT AND SERVICE

Publicity is one thing, marketing is another.

In order to create wealth, you should not just publicize or make noise about your product/service.

You need to create strategies and structures to market them and make sure people pay for it.

Because if they know about your product/service and cannot access or see it to buy then you will not make sales.

There are adverts that have become like nursery rhymes but getting the product to buy is another thing because it is not widely spread.

I always have a good laugh when people say they don’t need social media or the internet to sell their products or grow their business.

The truth is, social media is the best place to grow your business, it doesn’t matter if you’re already selling through other means.

Sales and marketing on social media have come to stay and you must plug into it if you want to grow your business and create wealth.

7. MANAGE YOUR CASHFLOW

It is not how much you make that matters but what you do with what you make.

A lot of people make money but because of improper money management, they are not able to multiply their money or create wealth.

You need to get my book “Pathway to Wealth” or any of my CDs on Wealth Creation to help you in this area.

8. ENJOY YOUR WEALTH

It is so amazing that people will labour to create wealth and still find it difficult to enjoy their wealth because they have become addicted to labour.

I have seen people lose their health in pursuit of wealth only to now try to use the wealth to buy back their health.

Enjoying your wealth is a way to perpetuate and preserve wealth because it will give you peace and comfort to keep moving.

Eat well, rest well, exercise regularly, go on vacations, etc. so that you can really enjoy your labour and sweat.

Do not die before your time lest others eat the fruits of your labour. I wish you well.

Keep your dream alive!

Get started on your wealth creation journey, click the link below to get materials that’ll help you get started.