Move #1: Be a dealmaker and negotiator: Deal-making is an art, and understanding this subtle skill is one sure way to making wealth. It requires skill, efforts, ability and knowledge to really achieve financial success. Establish partnerships that make sense. Even as an employee, you can negotiate deals on behalf of the company you work for. For instance, bringing a buyer and seller together to transact business could earn you some easy cash [finder’s fee].
Move #2: Play like the wealthy. Ever wonder why some people invest in golf club membership? Because they understand the value of mingling with the rich. Certain sports like golf, mountain-climbing, boat-riding, hot-balloon travel, horse riding, polo, etc are the exclusive preserve of the very rich. By mingling with this set of people, they enjoy the opportunity of networking and opening up business opportunities for themselves. Consider also that 80% of business opportunities and deals take place outside office and business environments.
Move #3: Create new income streams. You cannot depend on your salary for building mega wealth. You need multiple streams of income. Diversify as much as possible. Just because you are earning a fat pay does not mean you have to rest on your oars. You could start a cybercafé on the side, a car wash, sewing institute or anything else. You should be able to have your money work for you, so you should always think diversification when you think money.
Move #4: Invest in yourself. Do you know that your net worth is determined by your brain worth? That’s why the company’s pool car driver can never sit in the boss’s side of the car. Investing in intellectual capital via trainings, seminars etc gives you insights into how things can be done easily. It follows, therefore, that you must get an education and develop yourself in such a way that you increase your worth and become more marketable in future.
Move #5: Get a money mentor. Someone who has walked the road you are about to walk will certainly know the pitfalls to avoid. It’s a tragedy to make a mistake twice, especially when it could have been avoided. The best teacher is always experience. Money mentors bring a wealth of experience to the table. Their been-there-done-that attitude is reassuring to any mentee eager to soak up valuable knowledge. Indeed, you can save yourself lots of wahala if you have someone to help you mitigate risk to the minimum.
Move #6: Control spending impulses. A wise man once said, “There will always be something to spend money on.” Truth is: we all want to own the finer things of life, but if we hope to make money, real money, we have to learn to discipline ourselves with regards to our spending. The attitude of living up today because of tomorrow’s uncertainties is in itself hopeless because oftentimes, we are alive to experience those uncertainties. To become wealthy we have to practice delayed gratification and control spending urges. Cut down on what you need and never buy anything instantly.