How to make money and become rich

In order to know how to make money you have to first know how to not make money.

So why is that useful?
Simply by learning about these money making mistakes and avoiding them you will be able to make money in a fast and easy way.

here is how to not make money

Play it safe: no I am not talking about the level of risk you should take nor I am asking you to put all your money in the stock market but instead I am talking about people who play it safe by deciding to be employees forever.

Yes you can earn good money working for someone and yes you can save money through your career but unless you stop thinking like an employee you will never get rich

Once you acquire the mentality of the employee all what you will care about will be your yearly raise which might be something as little as 200 dollars.

Imagine waiting a whole year just to get additional raise of 200 dollars?
The problem with such raise even if it was a little amount is that will have an effect that is similar to drugs on your way of thinking.

Such a way of thinking will let you forget about your big dreams and it will drain all of your energy by forcing you to think about one thing which is:

How to get the raise?

Most people are stuck in this cycle. Whenever their financial condition gives them tough times or whenever they find accumulating bills they just think about getting a raise and that’s why they never become rich. They spend tremendous efforts trying to improve the efficiency their work and sadly this tremendous effort only results in few more dollars per month.

Even if you are getting a big raise still your money collecting speed will be as a turtle compared to en entrepreneur who decided to start his own business.

Of course there is no problem at all in focusing on getting a raise or on getting promoted as long as this doesn’t stand in the way of your real plans which is having your own business!!

Be a copycat: one of the best ways not to make any money is to be a copy cat.
Years ago when the internet was brand new there used to be internet cafes where people used to go to in order to access the internet in exchange for paying a certain amount of money

Because the idea seemed good and was easy to implement many people started implementing it here in Egypt and in the end their profits became very low because the customers were distributed on a very large number of internet cafes and this forced most of them out of business.

The same happened with food restaurant in Egypt. Almost everyone started opening food restaurant as a result of finding successful restaurants around and in the end a handful of people made money while almost everyone else lost their money.

When people copy from each other they forget about the fact that the only business that lives is the business that has a cutting edge competitive advantage. All of those restaurants failed except for the few ones that had a real competitive advantage and that’s why they lasted.

In addition to this point copying from others would let you start a business that you have no passion about and as a result your ability to keep fighting for it even when the conditions are tough will be very weak.

If you don’t have solid faith in your business then you are going to stop after the first storm. The business world is tough, yes you might succeed from the first attempt but the highest probability is that you will face lots of storms that require you to have a solid faith in order to overcome them.

People are different!! That person you saw running a successful animal store might be extremely passionate about animals and that’s why he persisted until he learned everything about them.

If you are serious about success in business and about having a long term business then forget about copying an idea just because you saw someone succeeding as a result of implementing it.