A Step-by-Step Approach to Get Rich without Risk- Part 2
Posted by Abdul Vasi on 04 Aug 2010 at 7:20 am | Tagged as: Entrepreneurship
We were talking about following a risk-free approach to getting rich in a few steps that are real. These are all going to happen to you on the way to ‘Rich-Dom’. If you haven’t read the previous post, please read A Step-by- Step Approach to Get Rich without Risk- Part 1.
Moving on:
Step 4 — Focus, no matter what happens: S&*^ might happen. Clients might be difficult to find; customers don’t pay up on time; government takes too long to get your permission cleared for shipping; your retail store might be gutted; your creditors might harass you to pay back; sales might not happen; employees walk-out on you; your family won’t understand; friends might not need you now because you just can’t afford those fancy cocktail parties — Doesn’t matter. Just keep at it.
Step 5 –Quit and celebrate, when it is time: Actually, there is no good time or bad time to do this. It will just happen and you will know it. But when it does, do make sure that you quit on a good note; say bye-bye to your boss, your buddies and everyone else you were associated with. Ideally, your part-time business should be at a stage wherein you would at least make as much as you left back there when you left that job.
Step 6 –It is now your Business, baby: You are now on your own. You won’t be pampered anymore and you don’t have a Job profile. There are no paid leaves and no hot vacation packages. There are no perks and certainly no cubicles. You will do more than what is seemingly possible to be done by one person; you will wear all hats — from the CEO to the Janitor. You will be alone, fighting the big bad wolf.
Step 7 — Build systems: If you haven’t read this book called ‘E-myth Revisited” by Michael. E. Gerber, stop reading this here and go get that book. Every function in your business has to be systemized. There should be a standard procedure to everything that is done within your company and then all of that has to be documented. It is should all be made so easy that even monkeys can run your business, if you let them.
