Monday, July 9, 2012

Do you want to be a rich man?!



There are essentially two different ways that you can make a million dollars: the easy way and the hard way.

The Easy Way :

**The simplest way to become a millionaire is to choose the right parents and/or grandparents. Paris Hilton of the Hilton Hotel chain fortune "chose" this route, as did Jamie Johnson of Johnson & Johnson and many others. Since our lineage and the occasional corresponding trust funds are usually out of our control, most of us can't take advantage of this method.

**If you're incredibly lucky or have a knack for trivia, you might have a chance at winning the lottery, hitting it big in
Las Vegas or winning a load of cash on a game show. But those methods may or may not throw you into the millionaire circle. Plus, with the Las Vegas approach you may find that you're hooked and subsequently lose your fortune on your next boondoggle.

**If you have extreme athletic talent, you stand a slim chance of making millions as a professional athlete. LeBron James, who went straight from high school to the NBA, got a $90 million contract from Nike before he had even played a single professional basketball game.

**Bill Gates has the best of both worlds. Not only is Bill Gates an ambitious and extremely successful entrepreneur, he also had the cushion of a million-dollar trust fund to fall back on -- just in case. Most ordinary people don't have that kind of luck, but that didn't stop over 7 million people from becoming millionaires anyway.

 The Harder Way:
**Even if you're not a trust-fund baby and aren't the luckiest person around, you can still make it big. As we mentioned earlier, most millionaires are self-made, ordinary people very much like you. But they set a goal to become a millionaire -- or at least a goal to achieve financial freedom. In order to achieve their goals, most of them started their own businesses simply because it's difficult to earn enough money to become a millionaire when you're working for someone else. Instead, you're making them a millionaire.

**Nothing is a sure thing. But if you want to really have a chance at making a million dollars then working for yourself is one of the best ways. Of course, starting your own business means taking a risk, but it may not be the risk we've always thought it to be. According to an article at Business.com, the old saying that nine out of 10 new businesses fail just isn't true. The author, Dan Kehrer, says that "a review of businesses gone bust by StartupJournal.com, a Dow Jones & Co. division, shows that the number of outright business failures in the
United States is highly exaggerated".

**The article also explains that about one-third of business closures that government statistics assume to be failures are actually successful businesses. Their owners simply sold off pieces of the business or closed them to retire or pursue other activities.

**Data from the U.S. Census Bureau's Business Tracking Series show about 65 percent of new businesses still operating after four years. Another recent study estimates that only 10 percent of the nation's 5.5 million small businesses (not counting solo operators) close each year.

**With this outlook for success, maybe starting that new business isn't such a risk after all. If you do fail, just remember that with each failure comes experience and knowledge to help the next venture succeed. Many self-made millionaires failed at businesses before they got it right. And each time they failed, they learned a lesson for their next business idea.


None can be a rich man without hard working.
I mean
No pain no gain.

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