If you are going through a stifling financial crisis or you see yourself on the verge of bankruptcy, and you feel that you will not be listed anymore! Do not despair and give up, you are not the only one who has gone through that harsh experience, many ordinary people have preceded you and returned to rise again, and how many rich people who have millions declared bankruptcy, not only that, but he was burdened with debts, but in the end he returned to wealth again.
Most people think that between bankruptcy and getting rich is an insurmountable chasm. But the reality says otherwise! There are many wealthy personalities in the world today, who were once bankrupt, but then became billionaires.
How did they succeed?
Before talking about the five strategies that turn bankrupts into billionaires, it must be emphasized that hope and patience with more ambition and a spirit of perseverance were the secret mixture that the most successful and richest people followed now, until they were able to achieve their goals and ambitions, no matter how great and no matter how many obstacles surrounded them.
In addition, it should be noted that access to wealth requires a number of special skills. Rich people learn anything they need to achieve any given goal, and those who learn gain the ability to do everything.
1. Create something of great value
Money is one of the rewards you get for adding value to the lives of others.
Wealth comes as an inevitable result of creating something that adds value to the world. The richest and most successful people now you will find have added value in some way to people's lives. This is how real wealth is achieved.
If you want to have a huge financial abundance, it is necessary to realize that all wealth comes from the enrichment of others in some way. The more you succeed in creating something that adds value to the lives of others, the more you will earn and the more certain you will become. Of course, this is not a short-term strategy. It may even take a long time! But the important thing is to pay attention to the opportunities and seize them.
Yvonne Chinard, founder of Patagonia, made a fortune not because he invented something new, but because he improved on something others had invented before. While Patagonia is a huge clothing retailer today, it went bankrupt when its owner turned 50 due to lawsuits.
However, Chenard did not leave his job because it was important not only to him. He has worked to leverage how to make his products more ecologically pure and more reliable. In this particular way, Patagonia became the giant of the market, that is, at the expense of its contribution.
2. Create a consumer product that people love
One good idea is all you need to get started making a fortune. There are a number of industries in consumer products that simply take off like a wildfire. From cold coffee to energy shots, drinks and even e-cigarettes, industries are expanding and expanding in an amazing way.
Energy drink company 5hour_ENERGY founder Mangul Bhargava has grown his business from a start-up to a successful large corporation with billions of sales.
In 2010, Howard Baynes owed $600,000 and lost his house in a short-form, before he started his e-cigarette business. In less than 18 months, his sales rose to $100 million. A few years after this huge jump in the market, he acquired Japan Tobacco International, a giant company with 27,000 employees and an annual income of $20 billion.
Although our friend "Baines" had no experience in this field, he, like the previous example, "Barjava", did everything he could to bring his products. Now he is among the wealthiest residents of South Florida.
As for John Paul de Goria, who was more than once on the verge of poverty, lost his shelter and made him live with his son in a car, he also did an incredible thing. He professionally produced cosmetics for beauty salons, knocking on all doors displaying his merchandise. He gave preference to how and every day was getting closer to his desired goal. At the age of 36, he directed his company, Paul Mitchell Systems, despite the loan and young son, to the top, becoming one of the richest people in the world.
3. Provide services in a future sector
The whole world has witnessed how Airbnb has gone from being a little-known location in the field of renting accommodation to a global company, with the three young billionaires Brian Chesky, Nathan Plikorchik and Joe Gabbia among the three billionaires. Airbnb has become a leader in its sector (an application that enables people to rent/rent apartments, rooms and even just a bed..). Strictly speaking, rental housing services have been around before, and VRBO has embarked on them, however Airbnb has been more successful in that.
Your goal is to identify the most promising direction for a sector and develop within it. This could be travel rentals, online commerce, financial services, insurance, virtual reality, chat bots or any other sector, but the important thing is to find your place and at the same time your unique and effective way to improve existing products and services.
It is also possible to create a service that cares for the wealthy themselves, such as renting a car, private planes, or a global concierge service. Find a way to do anything more effectively than your competitors.
Kenny Trott, founder of Excel Communications, made his debut in the telecom industry and became an international trading broker after deregulation of the economy. He has sold over 200,000 franchises with his multi-level marketing model.
4. Find a way to improve online communication
Mark Zuckerberg became among the richest people in the world after he developed the field of communication between people via the Internet. Today we all know about the successes of Facebook, but Zuckerberg was never poor or on the verge of bankruptcy. He was from a middle class family.
Even more interesting is the story of WhatsApp founder Jan Koum. In 2007, Kom, a Ukrainian immigrant, was working for Ernst&Young. Soon after the iPhone came out, he and Brian Acton decided to create a mobile chatting app that came out in 2010.
Kom turned WhatsApp into a hugely popular app that Facebook later acquired for $19 billion. Like other billionaires, Koum made the best use of the opportunity in a promising sector, which someone else might have missed had he been in his place.
5. Invest in real estate and expand your portfolio
Real estate is a long-term investment that achieves remarkable capital growth
Thanks to the famous book “Rich Dad, Poor Dad” by Robert Kiyosaki, it is possible to realize how you can work as income-generating assets instead of liabilities and liabilities that drain your money and eat up your income.
After the boom in the real estate field, owners of limited resources can invest in real estate in many ways and mechanisms, without the need for huge funds. But what must be emphasized is that investing in real estate is not suitable for those who want to get rich overnight, but it is suitable as a long-term investment to achieve the required growth in capital and income.
Leon Charney became a billionaire thanks to his investments in real estate. He was the child of two immigrant sons, and when his father died the money ran out in the family. Not having a penny, he chose to make his way through high school education and then into law school.
As for "Karl Berg", a billionaire who also rose thanks to investing in the real estate field, he also lost his father early. He was raised by his mother, who worked as a teacher. While working in a hotel, he met a man who was one of the largest construction workers in the United States, and this person proposed to Berg a management position in his mortgage company.
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