Pillars of Wealth- how to create lasting wealth

Pillars of Wealth- how to create lasting wealth

How does one create lasting wealth? Good luck? Nope. The Lottery, nope. A good job, unless it is a very good job then not really. Wealthy parents, no*.So how does one build lasting wealth?Well, first comes knowledge. The next step is the application of that knowledge to building one of the lasting pillars of Wealth.

*not unless they teach you well.

My concept of the pillars of wealth include 4 main Pillars.

Property/Real Estate, The Internet, Building Businesses and Investments.
Sub-categories include the power of your networks, your individual skills and talents and your teams skills/talents. These pillars support your Net Worth, which grows (and possibly shrinks) depending on your tolerance of Risk, understanding of your current situation and awareness of internal and external opportunities and threats.

I am going to look at these ideas from own experience and perspective, with the lessons gained from the greats in many fields. Today I'll be concentrating on starting a business, reasons why and potential risks/rewards plus my current situation.

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So, the first pillar of wealth is accessible to everyone, starting your own business.There are many incentives and pluses for starting your own business. Here is just 5.

10 good reasons to start your own company:

1.You choose who you work with
2.You choose when you work
3.You choose where you work
4.You (can)pay less tax
5.You(can)make more money
6. You can make the world better
7. You can have/make an impact
8 You can create jobs
9. You can have fun
10. You have ultimate freedom

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Many people's assumption is that the majority of business owners start a business to make a shed load of money. Not true. I think the urge to start a business comes from a mixture of the above reasons, and more. Money is great, but it's not the only reason why people start businesses.



I think, if you are considering starting up, you should be looking to do it for bigger reasons. Some people say its good to solve a problem. I agree, look to add value and you'll get satisfaction, a great business and the associated monetary reward.

Today, for me, is a big day. No longer am I reading about starting up, but I've done it. I'll be updating this blog on my experiences in business. This should add an element of authenticity. So now, I can tell you what I've learnt (knowledge) and what I've experienced, both good and bad(wisdom), so you can start up your company and take on the world!

For those interested in starting a business below are some useful sites:

5 useful websites for info related to starting up:

www.businesslink.gov.uk
www.tradingstandards.gov.uk/
www.ipo.gov.uk/ for intellectual property..
www.direct.gov.uk
www.business.gov/ USA version

Take a look at all of them and read the info. They will all help you....
That's all for now folks..........