Pyramid of Wealth 1
Using the same principles as the Pyramids of Egypt, build an online business that will survive, flourish and make you money. Use the Pyramid of wealth for your online business.
Create a pyramid base so strong that your success will be solid and persistent.
How to start from nothing and build a lasting business, then sustain it.
Many people imagine themselves, starting from nothing, and making a lot of money, don’t you?
Is it realistic?
Is it possible?
Is it probable that YOU can do this?
There are certain things you would need to do, to ensure that when your business becomes a success, that success does not turn to failure and you can sustain the success without exhausting yourself or your close family and friends.
Now, here’s the thing: if you are reading this for any reason except one; you want to make money, you are on the wrong page.
If you think this will make you rich overnight, you are on the wrong page.
Many offers of “get rich quick” schemes are very successful. Yes, they really work. They work for the people who start them.
This a checklist of basics to ensure your future success continues.
Why is it free? Because I enjoy helping others to succeed. It gives me a buzz that is incomparable.
Ordinary people, setting out to create a lasting income, to survive and have a comfortable life, read on. Follow these steps and they will increase your chances of success many times over.
This information has been gathered over years of making many mistakes myself. I have invested thousands in “Schemes,” and also invested thousands in educating myself.
What has really paid off is the education.
If you are an avid reader of self-help books, seminar attendee, etc., have you noticed there is a lot of the same advice, presented in different ways? Do you find yourself saying “Aha? I have seen that somewhere before?”
Let me make myself clear: There is no Book for Sale, no Seminar for Sale.
This is Free Advice.
These Are the Secrets
These are the secrets behind all the self-help books. This will help you, in many easy steps, to build a business from almost nothing. This is designed to really give you the nuts and bolts of real business building and continuing wealth.
If you have never been wealthy or rich before, it takes some getting used to. It takes a while to accustom yourself, like living in a foreign country. You also need to get used to protecting the wealth you have earned.
You do not have to be a genius or have high flying qualifications to make money.
There are “rules” because becoming wealthy and keeping wealthy is like a game. It is like a game that people have to learn and involves a little study and some hard work.
If that puts you off, please seriously consider something else. If you are still motivated, please read on.
You do not need a lot of cash to invest to create a new business. If you have a lot of cash, be careful how you spend it. Having cash can make people feel over-confident and lead to mistakes. Losing money can be painful.
In exchange for a large cash investment, start small and work hard.
Making mistakes is a learning process. If you never make mistakes, how will you learn the right way to do things?
Imagine you go on a course to learn, shall we say, accountancy. Will you get everything correct the first time? No.
We learn from our mistakes. Embrace every lesson learned and move on.
A quote I read recently, but cannot remember the author: (IM me if you know, I would be grateful,):
Life is 10% what happens to you and 90% what you do about it.
More Secrets later.
Some of you will have heard of Maslow and some maybe not. He developed a psychological concept of humans based on a pyramid of needs.
At the base, we all need:
No, we are not going to have a lesson in Psychology.
These basic needs are physical. We can’t begin to relate to other people or consider higher needs like spiritual needs until our basic physical needs are met.
A business is similar. It cannot flourish without its basic needs being met.
Since you are also the key to the business, it is necessary for you to create an environment which will support and sustain you and your business, because, more often than not, you are the business.
Why Businesses Fail
Secret 5. This is the main reason: The basic requirements for success of the business are not in place. When a business begins to take off and really make money it often needs to expand. More staff, more stock, more advertising and a lot more to do. This is the critical stage for long-term success.
Would you be happy to lose your successful business at this point? I hope not, it would seriously annoy me if I had worked hard and built up a business, just to see it fail as it really took off.
I call these requirements “THE PYRAMID OF WEALTH.”
If your foundation is weak, you will probably find your business will eventually fail or become hard work or static, i.e. unable to expand.
The base must contain the following elements to support your business.
a. Create a workspace that is uncluttered and in which you will enjoy carrying out your business. It might be a table, a computer table or even a spare room or office. It is important that it is dedicated to you and your business.
b. Set up a folder or a file called: “My Goals.” Use a new or attractive file if it is a paper file.
c. Decide on your goals: Short term, medium term and long term. These must be detailed and some estimate of time or date to achieve them. (Remember: these can be modified along the way.) Deciding what you want from your business will also help you to clarify your plans.
Create a Gant Chart of the things you have to do first and the sequence to do them in. This helps you to focus on the necessary things first. You can allocate the time to do them. (This may change as some things become easier.)
Gant Chart e.g.
d. Print out these goals and place them close by your work area so that they are visible. You will find it helps to read them every day.
e. Plan your business day. Decide when you are going to work and for how long. Include breaks for food and thinking. Have a calendar beside your goals. Plan 5 minute breaks every 90 minutes. Keep a clock handy and maybe a timer. Our concentration drops off after a time and a quick cup of coffee or 5 minutes stretching can work wonders to refresh you.
f. Do a basic business plan including a cash flow. You do not want to find yourself in financial difficulties while you are building up your business. I have included a simple example here and there are plenty on the internet. This should show all expenditure (money out,) costs and income and do a projection for 1 or 2 years. You can always revise this as time goes by and you settle in and understand your business.
g. Personal Finances. Assume no profit for 6 months. This will give your business an opportunity to grow, without you draining it of cash in the early days. Ensure you can survive for at least this time without financial problems.
This creates the foundation, the base of your business.
It has been slanted towards a home-based business to keep things simple. The same things apply to any start-up business.
If you already have a business – this could be a simple, quick checklist to help ensure your business thrives.
Setting Goals can be a Challenge.
If you are unsure of which direction or which products you will be selling, stay calm. There are solutions.
If you have some vague ideas about what you want to do then all the rules above apply. Use this framework to test your business without spending much money.
You still need all the things in Level 1, the basics, regardless of your product or niche.
Goals Can Change
Goals can and probably will change with time as you learn more. The important thing here is to take some action now to get yourself into the swing of things.
Please make mistakes because that is how we learn. We change what we are doing to prevent making those mistakes again.
The Gant chart example is just a small part of your time plan; you should adjust it to suit your own business.
This is a framework for starting out on a successful business. It is good to lay strong foundations to ensure your business is strong as it grows.
When you feel you have laid the foundation of your pyramid of wealth, you can read part 2, the next level.
Great read. I myself started a business of selling clothing apparel online, but it had failed. I wish I would of saw something like this to help me plan better. Organization is key to a successful business and I think that is what your level 1 is implying. Also, I like how you added goals can change. That is the most important piece of information that I took of value. What would you suggest someone do that has limited finance keeping them from excelling in their own business?
Thank you for reading the article Tyler.
Clothing is probably the most challenging to gain a niche in since there are so many really large companies with marketing budgets in 0,000.
You can take the lessons you learned and apply them to something new, assuming you are going to continue.
We have been in that situation of limited financial resources and my own opinion is that if you cannot afford to buy and sell your own products, sell someone elseâ€™s.
No stock is involved and you can focus on the marketing side of the business. It is also possible to find products which, whilst they may seem a bit boring, are ones which a lot of people need.
Marketing other peopleâ€™s products also means you can start with just one product and test the market. Once something is beginning to sell, look for another product in the same niche area.
Keep your costs under control and above all else, have patience.
Starting from small budgets can and will work, it just takes longer.
If you are not keen on affiliate marketing, perhaps consider â€œdrop shipping.â€ My own opinion of that is that it has the downside of your supplier having your customer mailing list.
Good luck with your endeavours whatever you are doing.
The comparison of needing to have a good business FOUNDATION with Maslow’s hierarchy of BASIC needs is a good way to put it. Before anything else, one needs to take care of the basics. The business foundation is the bottom widest part of the triangle. If the foundation isn’t laid properly in the beginning, the structure or business won’t be viable. But if it’s laid down properly, then putting additional building blocks to the business is easier.
Thanks for reading, Jean.
You are right. The danger of being successful is the success can reverse if the foundations are not in place.
Good foundations also mean it is possible to modify the business goals and head in a different direction. Goals often do change as we get experience in the field we are working in.
The modern internet business models are more flexible than the old ones and models such as Affiliate business are far more viable now because the internet is so massive. The customer base in small niches is still big enough to be able to make money in.
Once a business gets going, it can be annoying to have go back and sort out some of the basics when we really want to get on and make money.
I guess we all need to be imaginative and adaptable to thrive in the modern business world.
Well, good luck in your own field Jean and thanks again for reading.
I liked your websites’ theme and I love your slogan “Knowledge IS Power.” I liked your blog content it was really informative and I learned quite a bit about it. I believe a lot of businesses fail, in general, because it’s hard to succeed online. I look forward to your future posts.
Thanks for your comment Albojko.
You are right, a lot of businesses fail long before they have really taken off.
The time and energy needed to break through into being profitable is much longer than most people expect.
There are no quick solutions that are sustainable.
The Pyramid of Wealth is about starting off with a strong base which can be built on for almost any business.
There are a lot of people attempting internet business today and a lot of people fail for quite simple reasons.
I hope I have covered many of the necessary parts needed for the base of the pyramid.
I will soon publish The Pyramis of Wealth 2 which will build on that theme.