Toolbox

Many think that the only ability that every rich man must have is money management. This is a very important skill but there are more to getting rich. There are many more skills and tools to get rich just like any other profession. And hopefully these are not talents but skills and learnable. Many are good at working with some or all of these tools and skills but need not to worry. I am good at none of these but a burning desire to learn them keeps me moving.

I’m committed to search, find and learn all the necessary tools of the trade and save them in my toolbox and use them all whenever I need them. I don’t think rich people use all of these tools by themselves, they definitely have some specialists working for them. But the important point here is they know all the aspects of their business and that’s why they can manage their business well. I’m pretty sure I can reach there one day but until then, I have to learn how to use these tools.

There are six important skills that a successful rich person (I’m talking about self made rich people who have successful businesses not ones who find their wealth in some other ways, though they are not excluded) needs to become a giant money magnet. These skills are:

  1. Ability To Sell
  2. Communicating and Negotiating
  3. Money Management
  4. Accounting and Bookkeeping
  5. Cashflow Management
  6. Investing and Generating Passive Income

I add to these tools and skills as I find more of them, but these six are the most important ones so far I know. Some of these can be learnt very fast and easy and then should be delegated and outsourced to free more time like accounting or cashflow management but some are life long study. I don’t think Sales, Communicating and negotiating or Investing can be mastered in a short period of time and must be studied along the way through testing and experiencing.

I start my journey where I have no experience in any of these tools and skills and I know many of you are like me. So, I try to share all of my experience with you and show you all the pitfalls and hidden corners. Please help me in this long and hard journey to the land of the rich and tell me where I can be better and what I need to do. Send me your comments by clicking the BUTTON BELOW and ask your questions. I try to do what you ask me and answer your questions asap!

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