Wealth creation – Rule 16 (Take Risks)

Wealth creation – Rule 16 (Take Risks)

If you must create wealth then you should endaavour to take risks.

There is what business practitioners  call trading with people’s  money. Ideas has the power of making you wealthy only  if you are prepared to take risks. Before you venture into taking risk, I will advise you to make your due research. Most

businesses fail today because they fail to make researches. How can you start what you know nothing about? Effective research before starting any business is paramount for any business venture that will be productive. Ideas alone don’t create wealth but risks taken after proper research can catapult you to affluence. Not everyone is born golden yet not everyone will die golden. I read a book years back that stirred up all the nerves in me to create wealth. The book made me to understand that big time businessmen today used leverages called risk-taking  in creating wealth.

Taking risks can be the leverage you need to create wealth. Although leverage can be in the form of loans or sourcing for fund, never take risk you can’t manage. If you as an intending entrepreneur has a clear idea about a business that you  are sure that can create wealth for you yet you lack money to execute it why not use leverage you can manage to start up something for yourself. Why are those financial institutions in place? Without you they don’t exist. Although most of them requires that you have a collateral.

Alternatively, you  can source funds from your family, relatives and friends.

Food for thought: "Risk takers are great achievers".

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