Sunday, 23 August 2015

Transforming Debt into Wealth

Debt is one of the biggest obstacles towards building wealth, and if you’re in debt you’ve got to eliminate it. Two steps to get out of debt fast is to get rid of your credit carts and put at least 10% of your take home income towards paying down your debt. Spending less than you earn is also a key prerequisite for debt elimination.

”Work more. Save more. Spend less. Waste less. You’ll be out of debt and on your way to building real wealth in no time. ” 
Wealth Creation Strategies

Here’s the best opportunity to build wealth today, and anyone can get started in  these business.

- Information Publishing

A great way to become financially independent is through starting an information publishing business.

Instead of selling physical goods like flowers or clothing, as an information publisher you sell ideas, guidance, expert advice, . These ideas can be communicated and sold in various forms, like e-books, newsletters, reports, DVDs, membership sites, seminars etc., and once you’ve finished one information product, let’s say an e-book, it’s easy to repurpose that same content and sell it as a DVD, and a membership site, and a seminar.

The easiest way to get started with Information Publishing is if you’re an expert in something that people are interested in. Being an expert is relative, and by reading just a book or two on the subject you’ll probably know more than 95% of the population. If you’re not an expert in anything you can still build wealth in this industry, but the approach might need some adjustment

Information Publishing is a great wealth creation tool because with the internet your production cost is the lowest of any industry in the world. You can sell and deliver 100,000 ebooks for the same price it costs to produce and deliver a single physical book. As you’re in the business of selling ideas and not selling books you can still charge a fairly high price for the e-book. Some people even charge more for the convenience of being able to download the book instantly.

Taking advantage of the growing ”knowledge economy” is one of the best and easiest approach to wealth building.


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