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Wealth Formula That Can Never Fail
One of the questions I keep coming up with as I interact with some readers this year is, “What can I do to earn a steady income and stop depending on people?”
Every time someone asks me this question, it makes me think. I turn the question around and ask, “Is there a formula for creating wealth that can never fail? If so, what is the formula? And how difficult is it? Can almost anyone with determination do it?”
After months of deep thought and extensive research, I believe I know the answer to these questions. Yes, there is indeed a wealth creation formula that can never fail!
Before I tell you what a formula is, let me quickly explain the word formula because it is the key for you to have a clear understanding of what I am trying to share with you here.
According to one online dictionary, a formula is a set form of words, as in saying or declaring something definite or authoritative, showing a procedure to be followed, or the intended use of something.
In other words, it is a fixed or customary method of doing something; a rule or principle, a prescription or precept.
With this definition, you understand that a wealth creation formula is a set of principles or recipes. So what’s the formula now? It’s a four-part process that, when combined, allows you to create wealth.
Here are the four parts:
1. Make GOD your foundation
2. Find a way to regularly earn a legitimate income and discipline yourself to never spend it all;
3. Learn how to get paid for your service again and again
4. Focus absolutely on steps 1, 2 and 3, finding ways to repeatedly do it better and better.
It’s a formula. Now let’s break it down. The first part is straightforward, isn’t it? It means you have to make a decision to fall in line with what GOD says. That means you need to know what GOD said and be able to align with it.
The best way to do this is to become a serious student of GOD’s Word, and if you learn what the Word says and commit to doing it, you will lay a solid foundation for building wealth.
For example, if your GOD is the same that I serve, then you are a devoted hearer and doer of what GOD has said, which is written in the Bible. A dedicated and excited Word doer is a sure candidate for lasting wealth.
This person simply cannot help but succeed. This is how the Word confirms this statement: “Do not let this Book of the Law depart from your mouth, meditate on it day and night, so that you can do everything that is written in it. Then you will be successful and prosperous.” Joshua 1:8.
It should make your heart sing for joy as you are a hearer and doer of the Word. Why? Because you’ve just heard Him say it [hearer] and now if you go ahead and do what the Word says, you’ve become a doer.
Then you have qualified for what the Word promised. And my GOD never denies himself. He will do everything He has said in His Word. Nothing is too hard for Him.
The second part of the formula says to find a way to start earning legitimate income on a regular basis and never spend all of your income.
It usually doesn’t mean landing a dream job or a top-tier career. We’re talking here about someone who is probably unemployed and has no idea where their next meal is coming from, or someone whose total monthly income is “nothing to write home about.”
The temptation of people who find themselves in such a situation is either to be so discouraged and desperate that they give up on life.
I must admit that this is a very difficult condition. But if you can just pick yourself up and do what I’m suggesting, you’ll not only find your feet, you’ll escape the shackles of poverty.
To overcome this challenge is simply to get up and find a valuable service that you can provide to someone and get paid for it. And whatever it is, make sure it’s legal.
Then, when that effort starts to pay off, take it a step further and discipline yourself not to spend all of your income, no matter how meager it is.
This is a very important aspect of the wealth creation formula. Most people don’t get past this stage. They either get stuck in a menial job that gives them a steady income, or they look down on the money they make instead of thanking God for it.
But once you understand how this formula works, you’ll have a different mindset. First, you realize that this is a temporary phase in your life. It’s not a place you want to stay too long.
All you want to do here is get money so you can eat [not necessarily a regular satisfactory meal] there is also a little left to invest in self-development.
Be careful when choosing to invest in self-development. Here’s a secret I want you to learn. Acquiring specialized skills that you can be very good at and using your knowledge to serve others is the best way to go.
For example, you know for sure that there are things that people and companies always pay other people for. Pick one of those things that you like, learn how to do it, and then work to be the person who delivers the service better than anyone else.
If you can discipline yourself to do this, you are halfway out of the poverty zone. Before I get into the third part of this formula, let me emphasize one more thing. Earlier, I hinted to you the danger of not being grateful for the meager income you earn in the second phase of false jobs.
Well, you should be really careful with that. If you let the lack of gratitude creep into your heart, it consumes you so much that it prevents you from wanting to engage in self-improvement. If you allow this to happen to you, you are in deep trouble. So be careful!
Okay, now you’ve crossed that first dangerous hurdle where many fall. In the third part of the formula, your goal is to improve your skills to get paid for your service again and again.
What exactly does this mean? Remember you now have a skill? And have you mastered that skill to the point where you can position yourself as someone who can do it better than anyone else? Now is the time to build a business based on that special skill.
Being number one in your industry doesn’t automatically mean your business will make a profit once you open up shop. This is another pitfall that often trips up people who are just starting out in business.
When most people start their business, they expect it to take off. And they can’t wait to bank their profits. But that hardly ever happens. And when it doesn’t, most people lose interest in that business and migrate to other things.
You must learn to use patience to get this part of the formula right. And I can tell you this from experience, the stage of your process leading to financial freedom can be even more difficult than when you had to do menial jobs to generate cash flow.
A combination of the lessons learned in parts one and two of this formula is what you rely on to help you get through the winter season in part three of the formula.
There is a new demand for you to acquire other skills, especially skills such as running a successful business, marketing your products and services, managing human and material resources, and attracting and keeping customers happy for life.
Your ability to learn and excel at these things will determine the success of your business. But if you stay consistent and put everything you’ve learned into practice, rather than compromise the integrity and ethical behavior of your business, you’ll get to the point where those profits you thought never came or came too late are the order of the day. .
When you get to this point, all you have to do is apply everything you learned in steps 1, 2, and 3. But this time you will do it better, smarter and faster. And if you keep doing it, you will grow bigger and bigger.
This is my formula for wealth creation that can never fail.
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