It seems to me that you could save a lot of money and spend your time better if you knew what kind of professions, industries and businesses the millionaires I analyzed in my study were in; before creating a fortune from scratch.
This way you could focus your energies on those areas. But it is not the only thing you should do. Let me share with you 4 more strategies.
How to create a fortune from scratch.
1. You work for a large company.
After interviewing hundreds of millionaires I found the following.
23% of the people analyzed in my study about the habits of the rich, were senior executives in large companies. When I speak of large companies, I mean multinationals and those companies that are listed on the stock exchanges.
Some of these companies even make some contributions in shares to the retirement plan of their employees, increasing their value over the years. Two of the millionaires in my study were low-ranking employees who had bought shares in their companies for 35 years. Somehow they were lucky, as the shares grew constantly and thus they were able to create a fortune from scratch.
2. Become an expert.
27% of the millionaires in my study were professionals in their fields. Do you remember your mother saying that she wanted you to be a doctor? Well, there is a good reason. 56% of the professionals in my study were doctors.
What kind of doctors? Surgeons and scientists earned the highest salaries and were the richest, according to the data collected. In the next position were lawyers, engineers, and financial planners.
61% of the millionaires analyzed in my study were small business owners. Only 21% were professionals. That is, 39% of business owners were not professionals. What kind of business were these non-professional business owners in?
- 9% were in real estate. This category includes rental properties, construction, and long-term purchases for property appreciation.
- 7% were distributors. These were typically distributors for large manufacturers, controlling a regional area. This gave them the advantage of having a monopoly on the sale of that manufacturer’s products.
- 5% were new vehicle dealers. They were usually owners of a franchise that allowed them to sell the vehicles in particular regions. Similar to dealers.
- 4% were in the services and facilities sector. This includes businesses that sell heating, ventilating, and air conditioning systems, swimming pools, and technology products that require annual maintenance.
- 3% were manufacturers. This category includes manufacturers of specialized equipment and remanufacturers (reconditioning of old equipment).
- 1% were in small businesses within unusual niches.
4. Sell something.
11% sold products or services for large companies or through small businesses. They made their money through commissions mainly.
As you can see, you don’t have to be born a millionaire, but with effort, planning and dedication, you can achieve it. What are you waiting for to create a fortune from scratch?
If you are really interested in creating your own business and want to find more information on this subject, buy our book “How to create a company while you work. Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
And remember, if you are really interested in creating your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
