Self-Made Millionaire – How to Get There
Self-made millionaire – sounds so good doesn’t it? Wouldn’t you like to be called one? Let’s face it, nobody became a millionaire by working an average nine-to-five job and saving up. But even if you do, what’s the point of having a million dollars at the age of fifty when you’re too old to enjoy it anyway? If you want to be a self-made millionaire, you’ll have to something different and unique and take some risks. But take calculated risks – do not bite off more than you can chew and do not invest more than you can afford to lose.
Presented here are five things you can do to become a self-made millionaire. These ideas have high probability of success and are a safe bet, provided you work hard and adopt the best in industry practices to see to it that your venture goes through.
1. Food and beverage – This is a great idea to be a self-made millionaire if you’re passionate about food and take pride in creating culinary masterpieces. People will always eat and restaurants will always run. But restaurants also fail and shut down a lot. So if you maintain proper quality and have competitive pricing and give your patrons reason to come back again, then you could well be on your way to owning a major international chain.
2. Software – many a self-made millionaire has found success in software programming and Silicon Valley is full of such examples. The thing with a software business is it doesn’t take much money to start. But what it does take is skill – lots and lots of skill in order to stand out from among all the players out there.
3. Stock Market – this can make you a self-made millionaire, but it is too risky. Never put in more than you can afford to lose.
4. Retail – Retail is a slow but steady way to become a self-made millionaire. You can start small, like with a clothing store lets say and soon as you save money, you can move shop to better and better locations and have bigger and better shops till one day you’ll eventually become the owner of a large store in the central business district of the city.
5. Glamour – many millionaires has found success in the modeling and fashion industry. There are several working professionals who moonlight as models and make good income on the side and some of them eventually make enough to actually quit their day jobs and go into it full time.
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