10 Irrevocable Laws and Strategies of Wealth Creation

Being a successful person has principles to follow. It does not have anything to do with age, small, or big, educated or non-educate, etc. It has to do with following the principles that will unlock wealth. There are 10 irrevocable laws and strategies you can follow in creating wealth.

1. The law of creating mentorship

Nobody can live in isolation and achieve. There should be someone who will be served as a predecessor in that field or area. Some people have been successful in the area of your business or the things you are intending to do. That is, what you are pursuing to achieve has been achieved by someone. Those people can be used as your serving and creating mentor. Learn from them to improve on your own and do better. There are two major types of mentorship, namely direct and indirect mentors. A direct mentor is someone that advises or mentors you on certain things to put you right while an indirect mentor is someone you can emulate or her lifestyle to live a better life. Whether a direct mentor or an indirect mentor, you must have one to achieve your good potential and goodwill. Take this as an example, I could achieve in studying English because of one of my English teachers in Secondary School who served as one of my mentors. Who is your mentor?

2. The law of money desire

Desire is a subset of motivation while motivation is a driving force to achieve ideas, concepts, strategies, and potentials. Everyone loves money, right? That is why we work. The passion and zeal for getting legitimate money will make us think of a better way to achieve it. The desire to get money legitimately is different from the quick desire to dupe or rob any other illegitimate way of getting money. That is why you must be hardworking, and diligent, and apply wisdom, knowledge, and intelligence to create wealth. For example, read about Dangote, Otedola, and some of the white richest and most successful people and how they work hard for money.

3. The law of entrepreneurship

Entrepreneurship to me is a way of solving societal issues and providing jobs. Entrepreneurs are those who provide jobs by creating businesses. An entrepreneur solves problems; he creates jobs and employs people in his business. You have to create jobs and employ people. The mind and steps of being your boss are the best. You cannot manifest the destiny of someone for life. Start creating the future and rest for your life and old age from now. You don’t need to have a big capital before you relate a business. You can start with a little capital. For example, if you take surveys, the richest people in the world are entrepreneurs.

4. The law of definite purpose

The right purpose is what makes a man. A definite purpose is an identified and specified purpose one should have to achieve in business. No one can live without a purpose whether the right or wrong purpose. You should define your purpose from today on your job, your business, and life in general. A definite purpose is a clear and distinct purpose of determination, resolution, and decision for success. As a person of clear purpose, set your daily, weekly, monthly and annual goals to achieve today. A man or woman of purpose will easily create wealth.  Tell me how far a person without purpose will go.

5. The law of enriching others

Everyone is given one thing or the other to enrich others. Your talents, gifts, knowledge, wisdom, money, and the like are to enrich others. One sure thing is that what you give out is coming back to you in multiple folds. When you create a business, it means you create wealth. The main purpose is to affect people’s lives. When you enrich lives by creating wealth, you are enriching other people.

6. The law of small beginning

There is an adage that says, “Small streams become big oceans”; a big company begins from a small venture. Many people put money forward before planning in creating a business. They will always say there is no money, which is why they cannot start a business or create wealth. If they are asked what they need money for, you will realize that no planning has been done. In achieving business establishment, the idea of the business must be conceived first. Then, the planning of how to execute it will be drawn before we think of the money to start the business. The idea will give you insights into the amount you will need for the business. You can start your big ideas with small/little capital.

7. The law of courage and persistence

Courage is the act of being bold while persistence is the property that reinforces continuation. Both courage and persistence are very important in creating wealth. If one is not bold enough to continue even when failure comes, one cannot achieve creating businesses and wealth. It is courage that derives persistence and persistence results in achievements. Courage will still tell you that you can still make it even if you have not succeeded in your business. Have courage and persistence to take any business challenge and then move on to achieve. I learned that the 7-UP drink is called the name because the manufacturers have tried it 6 times but failed. It is the 7 times of endeavor they succeeded. If it is not understood courage and persistence, they have dropped it after or even before 6 times. 7UP drink is one of the best soft drinks today.

8. The law of risk-taking

Many people scare of risk-taking because of the uncertainty therein. But we cannot do without it. Most of the big companies these days take a risk before they become big. Take, for example, a start-up business that wants to take a loan of 5 million naira from a bank with huge interest. The question to ask is when will he or she get money and interest to pay the loan back within 3 months of agreement? It is risky! But if he or she says, he or cannot loan money, he or she cannot establish a business. It is the risk that will make the business owner serious about the business once he or she knows that he or she has payment to redeem. To create real wealth, you have to take a reasonable risk.

9. The law of innovation

In creating wealth or business, you have to be innovative or bring innovation to your business ideas. Innovation is the ability to do what other people have never done or thought of. Innovation is the ability to think out of the board or think above the board. A person who cannot think of a better way of doing the same thing is like a maintenance businessman. You cannot do the same thing the same way and get different results, no way! What can make you stand out and get different results among your competitors is to introduce new useful things in the industry.

10. The law of unusual positivity

A positive mind and thinking keep one going, even when one is discouraged. You should know that people are outside there to discourage you and kill your morale in achieving your dreams. Keep optimistic that you will succeed. Have a positive mind, say positive words, and take positive actions/steps toward achieving your business goals.