4 Easy Steps To Create Wealth From Scratch In India

create wealth

create wealth

Want to be a millionaire? But don’t have any career line planned? Well, worry not. Here, I’ll explain how *anyone* can create wealth from *nothing*.

NOTHING.

Now you must be wondering that if this was the case, why isn’t everyone rich?

Well, let me clarify this point once and for all: wealth creation is tough. It is no piece of cake. One has to devote his/her entire life towards this goal in order to become rich.

Also, there are no shortcuts. You’ll have to go a long way in order to discover riches.

Another thing to keep in mind is that wealth creation takes time. It is not something that will happen overnight. Therefore, it is important to be patient.

If you’re still onboard in this wealth creations ship after all these conditions, great! You have proved that you have great perseverance.

This is because a majority of people jump off midway and are never able to reach the riches island (Are you one of these people who often fail at money?)

Very few rich people exist out there…

According to the recent survey by Oxfam, the richest 1% in India has a hold of 73% of the wealth generated in the country.

This presents a frightening picture of India’s increasing income inequality.

And the population of India till 2017 was 133.92 crores. One percent of this equals to approx.. 1 crore 33 lakhs.

Why this disparity you ask? After all, we all are born as equals!

What makes some people ridiculously wealthy and others just middle class?

The distinction lies in the manner individuals “treat their resources”.

People who are rich today have treated their resources smartly and in a distinct manner than others in their past.

The treatment of one’s resources determines and shapes one’s financial future.

But wait, not everyone has resources. 

Even those people who have no resources currently can become wealthy. 

Huh? How is this even possible?

Read on.

Are you one of those who don’t have any resources?

Do you often find yourself resource-less?

Do you think that you cannot get rich because you don’t have any resources?

If you think this way, you’re wrong my dear friend!

Let me repeat a line from above: *anyone* can create wealth from *nothing*.

The decision to become rich lies absolutely with you. 

 Remember this dialogue from the Bollywood movie Om Shanti Om

Kehte hain agar kisi cheez ko dil se chaho … to puri kainaat usse tumse milane ki koshish mein lag jaati hai” ( It is believed that if you desire something from the bottom of your heart, the whole universe tries to make it work for you)

It’s true. This dialogue sums up how the universe works.

Hence, if you are determined to work hard and achieve something financially, the whole universe will try to make it for you.

But it is no magic. You’ll have to work hard, be patient and perseverant in case any obstacle arises.

Enough philosophy I guess!

How to begin to create wealth?

How to begin this quest of finding riches?

By continuously being on the lookout for IDEAS. This costs nothing, does it?

But I stay so busy, when can I think of ideas?

Well, being busy has nothing to do with thinking. Nevertheless, the best and most productive times for thinking about ideas are:

  • First thing in the morning
  • Last thing before going to bed
  • While walking/exercising

But where to search for ideas?

Where are the ideas?

You can’t get ideas from Amazon. (Not yet at least!)

Then, where do you get ideas from?

Ideas are actually within us.  They’re inside our subconscious mind.

But most of us are so busy minding our business that we forget to keep in touch with our subconscious mind.

We should start speaking with our subconscious mind in order to discover a stash of ideas.

But speaking with the subconscious mind is not so easy. You’ll have to ask it questions wait for answers which will come in the form of ideas.

Also, refrain from rubbishing aside random ideas which come to your mind. These random ideas may turn out to be multi-dollar ideas.

Consider every idea. Research about it on the internet and otherwise. Talk to relevant people about it.

After researching about every idea, draft a one-page mini report stating all the important points about it.

When this is done, start researching about another idea.

A day will come when you’ll find “the idea”.

This idea will become your master plan for achieving riches.

Did you notice how we practically began from nothing and found out an idea that will bring millions and millions?

This is how self-made millionaires spring up in life.

But how does one develop a master plan for becoming rich?

The answer lies in the following three steps:

  • Get an idea from within
  • Research your idea well
  • Prepare a master plan

This is what makes wealth creation difficult. It also similarly answers why only 1% population of India is wealthy.

4 Steps to Create Wealth

Step 1: Save Excessively

An average person who aims to become wealthy has to start saving excessively.

The most basic requirements of one’s life are:

Most of us get diverted here. We tend to overspend on these things and end up saving almost nothing.

But in order to get rich, you must start compromising and start saving extra given that savings are equivalent to resources for a common person.

One must aim to save 50% of his/her monthly income. (Told you wealth creation is no piece of cake!)

Thus start living a minimalistic lifestyle today and follow these best frugal tips to save money.

Step 2: Frugality does not mean poverty

People often have this perception that living frugally will make you look cheap in front of your friends and family.

Well, saving cash and cutting your expenses does not necessarily mean compromising or degrading your lifestyle.

You can adopt extremely easy-to-follow approaches and save a hefty amount of sum monthly.

It may happen that in your approach to live a minimalist lifestyle and save greater cash, the scenario may end up looking like this:

While your friends buy lavish bungalows, you live in a 1 BHK apartment. While your friends travel in premium cars, you choose public transport etc.

So, you may not look as rich as these people from a distance. 

But it is essential to keep in mind that you incur fewer costs and thus save more. That’s simple math!

Consequently, you are becoming richer quickly than others. 

Step 3: An idea can change your life (well, financial life)

Now that you’ve made provisions of savings and have started saving a hefty amount every month, it’s time you put those savings to good use.

This is where the need for an idea comes into play.

The most basic idea to start with is to start investing. Don’t know why should you invest? Read this: 7 Reasons to start Investing your Money now

While you’ll have to spend your money in investing initially, trust me; your money won’t be lost forever. Chances are, your money will start growing rapidly and multiply sooner than you can imagine.

Are you afraid you don’t have much knowledge about Indian stock markets? Read this: Technical Chart Analysis Of Indian Stocks

But while investing, keep in mind that you need to diversify your portfolio. This will help you reduce your overall risk as one should never keep all his eggs in one basket.

Step 4: Tap passive income sources to create wealth in the long term

Now, our ultimate goal is to create wealth from scratch i.e. nothing.

This is done by tapping passive income sources because it is only this income which is independent of any other income.

For instance, the salary from your job is not independent. Why? If you get fired, the salary will stop.

However, the income from your investments is passive since it is independent of any other factor.

 That is you’ll keep earning even if you don’t necessarily work for it.

Conclusion

 So, is it possible to create wealth from nothing? Absolutely yes.

Is it possible to create wealth without hard work?  Absolutely no.

Therefore, you must work hard in order to become wealthy.

Here are the steps to creating wealth from nothing for a quick glance:

  1. Talk to your subconscious mind
  2. Generate ideas
  3. Research each idea
  4. Create reports for each of them
  5. Develop a master plan
  6. Start saving excessively
  7. Live a minimalistic lifestyle
  8. Invest and earn
  9. Grow more passive income resources

Hope this helped!

Keep saving and become wealthy!

What is wealth?

Wealth is an abundance of valuable possessions, assets or money.

How do I create wealth in India?

4 steps to create wealth in India are:
Step 1: Save Excessively
Step 2: Frugality does not mean poverty
Step 3: An idea can change your life (well, financial life)
Step 4: Tap passive income sources to create wealth in the long term


Leave a Reply

Your email address will not be published. Required fields are marked *