How do people become rich?
By the time I'm 25 i want 3 restaurants and 2 car dealerships. However I'm 18 living in my parents basement basically. I'd rather spend money on setting up a business as I think it's better to work for myself if I want to be rich then work in tesco for £10/hour.
How do people manage to own so much? And is it even possible? It's a big dream I know but I certainly think it's possible. I work hard for money, I can wake up at 6am for work but not to go to the park etc.
How do people manage to own so much? And is it even possible? It's a big dream I know but I certainly think it's possible. I work hard for money, I can wake up at 6am for work but not to go to the park etc.
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I could sell substances but I'm not trying to be a shady person, I want to live and come back home 😂😂😂
Strike oil
stocks, investing, monopoly/real estate, drug dealing -don't do this ofc
I'm 14 but this is how I heard of people becoming rich.
I'm 14 but this is how I heard of people becoming rich.
Unfortunately that doesn’t sound too feasible if you’re looking to achieve all that by the age of 25. If you want to own 3 restaurants and 2 car dealerships, and have them be successful enough to keep going, you will have to start them up yourself, and gain experience. If you want to start a business, you need a good degree in economics or PPE, something like that if you want a decent chance at getting something off the ground. Luck plays a huge role in it, but luck won’t make any difference if you’re not educated and very driven. It’s possible, but you need to work very hard. Keep in mind your goals: what happens after this? Is this the only thing driving your life? Remember that to own those things you want, unless you go into a career, earn lots of money and then buy them, you need the skills to be able to run them and make them successful yourself.
Original post by Anonymous
By the time I'm 25 i want 3 restaurants and 2 car dealerships. However I'm 18 living in my parents basement basically. I'd rather spend money on setting up a business as I think it's better to work for myself if I want to be rich then work in tesco for £10/hour.
How do people manage to own so much? And is it even possible? It's a big dream I know but I certainly think it's possible. I work hard for money, I can wake up at 6am for work but not to go to the park etc.
How do people manage to own so much? And is it even possible? It's a big dream I know but I certainly think it's possible. I work hard for money, I can wake up at 6am for work but not to go to the park etc.
the easiest way is to marry into a rich family
Why don't you start with aiming for 1 restaurant or car dealership
Whichever one is cheapest or easiest for you at first. Then it's much easier to find a practical plan to start your buisiness, this way you seem to have no idea where to start. To do this you should get advice from people who have started their own small buisiness and you can start seeing how it's done even here on TSR. But saying you want all this won't allow people to give you the proper steps because it just seems unrealistic
Whichever one is cheapest or easiest for you at first. Then it's much easier to find a practical plan to start your buisiness, this way you seem to have no idea where to start. To do this you should get advice from people who have started their own small buisiness and you can start seeing how it's done even here on TSR. But saying you want all this won't allow people to give you the proper steps because it just seems unrealisticBesides shady things and being born into a rich family; luck, knowing the right people and contacts, certain skills and knowledge, thinking out of the box
Golddigging is the easiest way tbh
We live in the internet age so you don't need as much money as in the past to start a business. In the past you would need to get a a loan and it was risky as you get into debt if you business fails.
Fortunately, today we can start businesses online and they are lot cheaper or even free to start. Online businesses can be started with as little as £10 for a website domain name. It depends on what you are doing.
Since you want to own a restaurant and car dealership in the future, I recommend first starting online businesses and growing capital. Then in a few years you if it works out, you will have the money and business skills and experience to be able to open a restaurant and a car dealership.
Examples of good online businesses to start are:
Blogs:
You can write content in your blog and then add affiliate links and adverts which can earn you commisions and revenue when someone either clicks or makes a purchase through the link.
Ecommerce Sites:
You can sell products on your own website using platforms like Shopify. To lower costs you can use fulfillment methods such as dropshipping which is where a customer orders from you, and the product then gets shipped directly to the customer. This way you don't have to spend lots of money buying stock for your products.
Youtube Channel:
Just like a blog if you get lots of viewer and subscribers you can also place ads and affiliate links in your videos and earn comissions. You could also sell your own products too.
I also recommend you go out and network with people. Go to business meetups, networking events etc. and find people. You may find someone who would provide funding for your business.
The most important quality in order to get rich is mindset. If you want to be rich you need to be patient and be able delay gratification. If you don't you would give up too soon. 95% of companies fail in their first 3-5 years. Most companies that do succeed did not turn a profit until 3 years after they were launched. Most lose money at the start in order grow their business and acquire new customers. Entrepreneurship requires a lot of resilience, grit, commitment and self-discipline.
Fortunately, today we can start businesses online and they are lot cheaper or even free to start. Online businesses can be started with as little as £10 for a website domain name. It depends on what you are doing.
Since you want to own a restaurant and car dealership in the future, I recommend first starting online businesses and growing capital. Then in a few years you if it works out, you will have the money and business skills and experience to be able to open a restaurant and a car dealership.
Examples of good online businesses to start are:
Blogs:
You can write content in your blog and then add affiliate links and adverts which can earn you commisions and revenue when someone either clicks or makes a purchase through the link.
Ecommerce Sites:
You can sell products on your own website using platforms like Shopify. To lower costs you can use fulfillment methods such as dropshipping which is where a customer orders from you, and the product then gets shipped directly to the customer. This way you don't have to spend lots of money buying stock for your products.
Youtube Channel:
Just like a blog if you get lots of viewer and subscribers you can also place ads and affiliate links in your videos and earn comissions. You could also sell your own products too.
I also recommend you go out and network with people. Go to business meetups, networking events etc. and find people. You may find someone who would provide funding for your business.
The most important quality in order to get rich is mindset. If you want to be rich you need to be patient and be able delay gratification. If you don't you would give up too soon. 95% of companies fail in their first 3-5 years. Most companies that do succeed did not turn a profit until 3 years after they were launched. Most lose money at the start in order grow their business and acquire new customers. Entrepreneurship requires a lot of resilience, grit, commitment and self-discipline.
(edited 3 years ago)
i've heard dropshipping is a nice starting point
Original post by Anonymous
By the time I'm 25 i want 3 restaurants and 2 car dealerships. However I'm 18 living in my parents basement basically. I'd rather spend money on setting up a business as I think it's better to work for myself if I want to be rich then work in tesco for £10/hour.
How do people manage to own so much? And is it even possible? It's a big dream I know but I certainly think it's possible. I work hard for money, I can wake up at 6am for work but not to go to the park etc.
How do people manage to own so much? And is it even possible? It's a big dream I know but I certainly think it's possible. I work hard for money, I can wake up at 6am for work but not to go to the park etc.
-live within your means and every month put money away into long-term investments like real estate, bonds...
-Re-invest, make your money work for you
-Watch the cashflow into assets not liabilities
idk how people get rich....luck n hardwork i think
luck is hard to find, but hard work will get you halfway there
if someone knows the secret pls lmk lol
luck is hard to find, but hard work will get you halfway there
if someone knows the secret pls lmk lol
most people i know that have 1m+ have all done something illegal to get there, its not the main source of income, but it is there and its often used to kickstart an investment.
for instance if they need 10k for a stock they usually do something illegal to get that if they really want it.
from what ive learnt, the people who get rich young are the ones with shear drives for it and work with no excuses, doesnt matter if youre having a bad day, a family members died, your hungover, your ill, they are still working.
for instance if they need 10k for a stock they usually do something illegal to get that if they really want it.
from what ive learnt, the people who get rich young are the ones with shear drives for it and work with no excuses, doesnt matter if youre having a bad day, a family members died, your hungover, your ill, they are still working.
Original post by Nabu123
The only way you get rich in a capitalist society is through exploiting the poor
Is your surname Castro by chance?
fraud or drugs
Have wide interests, be able to hold conversations on a variety of topics, use that to network with worthwhile people, and build your way up.
A lot of it is about the people you surround yourself with, and your own 'general life skills'/transferable knowledge.
A lot of it is about the people you surround yourself with, and your own 'general life skills'/transferable knowledge.
Original post by sakura_23
Unfortunately that doesn’t sound too feasible if you’re looking to achieve all that by the age of 25. If you want to own 3 restaurants and 2 car dealerships, and have them be successful enough to keep going, you will have to start them up yourself, and gain experience. If you want to start a business, you need a good degree in economics or PPE, something like that if you want a decent chance at getting something off the ground. Luck plays a huge role in it, but luck won’t make any difference if you’re not educated and very driven. It’s possible, but you need to work very hard. Keep in mind your goals: what happens after this? Is this the only thing driving your life? Remember that to own those things you want, unless you go into a career, earn lots of money and then buy them, you need the skills to be able to run them and make them successful yourself.
You simply don't need a degree to start a business!
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