Quit Your Job and Get Rich

Who doesn’t want to be rich? Each and everyone want to be rich. But the only thing which is required is your smartness and creativity. With that you can earn not only millions, but also your talent will increase. Quitting your job and searching for a new job is not a big deal. But your decision of quitting a monotonous job will be only appreciated once you start thinking of an idea which can make you a rich person. That doesn’t mean only wrong steps or ideas will take you forward to become a millionaire. There are other key factors which helps you to get rich, but that just requires your presence of mind and the hunger to work hard. Here are few main advantages that you can look upon by quitting a job, as reported on Make Money Website.

1. Rich people don’t work for money:

This is considered to be the hardest concept for people to understand. Many people think that those who are rich may be having lot of allowance; in fact it’s actually true and thus you need to work hard to get the allowance that helps you to become rich. But actually this is not the case. The rich people don’t actually work for money, they actually work for properties and later that properties will work for money. So in the same sense, if you are smarter enough, then buy a property that can produce you great income and work on them rather than going to a office to do the same monotonous work.

2. Quitting Your job helps you to bring out your creativity:

It is said that each one of us will be having some or the other talent inside us. But for few reasons we tend to be careless about creativity that is hidden inside us. If you work for a company, you tend to spend most of your hours of the week at your office working for that company. Many times you start working on something which you are not so passionate about. With all your work pressure at office you won’t have any time left to think about a new idea which can work for you as you would be already stressed out working the entire day. So, by quitting your job, it doesn’t mean that you have lost your creativity. Instead you will get more time to explore your inner talent. And for sure most of you will be creative enough to get the ideas which work out to you to become rich. This advantage you would never get if you are recruited somewhere working the whole day.

Other than these two ideas reported in the Make Money Website, there are few other tips reported by Rod on the Success Center website.

3. Save sufficient money, Quit Your Job and earn millions:

If you start saving your money from the very first salary without spending it much, you will get a good opportunity to spend it worthy in your future. So, if you save sufficient money for your future from your current job, in future if at all you plan to quit your job and start your own business, the money that you have saved comes to your help at this point of time. It makes setting up of your own business quite easy as you will be financially stable and you would be free from worrying about the financial support for your business. Once you start your business, try to maintain it in a way so that your business runs actively without any loss. With this method for sure you can earn lots of money.

4. Maximize your social media after you start a business:

Once you start your business you must always maximize your social media contacts because at present your social media has expanded enormously which we can say it’s mainly because of its low cost [or you can also say pretty much free] and you can get a large return on investment. It is absolutely a good way to connect with potential customers and also engage in a good way with present clients which makes it easier for them to trust upon you.

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Tips of Warren Buffet's to Get Rich

Warren Buffet is the richest man in the world, with an estimated wealth of $62 billion. He is eminently regarded as one of the most successful investors in the world and is called a ‘Legendary Investor’.

When he began buying stocks in Berkshire Hathaway in 1962, one share cost him around $7.50 dollar. But today the entire scenario is changed and at 81, Buffet is Berkshire’s Chairman and CEO and one share of the company’s class ‘A’ stock worth is close to $119,000. He credits his amazing success to several key strategies. Here are some of Buffett's money-making secrets and tips for you to get rich -

1. Reinvest Your Profits

When you first make profit in the stock market, you may be tempted to spend more in order to gain more. But he says, “Don't.” Instead, he suggests reinvesting the profits. Buffett learnt this lesson much early. In his high school, he and a mate bought a pinball machine to pun in a barbershop. With the money they earned, they bought more machines. When the friends sold the scheme, Buffett used the proceeds to buy stocks so that he could start another small business with the profit. By 26, he'd accumulated $174,000. Even a small sum can turn into great wealth, if it is wisely invested

2. Be Willing To Be Different

Don't let your decisions be based entirely upon what everyone says or does. When Buffett began handling money in 1956 with $100,000, he started with a handful of investors. Back then he was dubbed an oddball. He worked in Omaha, not Wall Street, and he refused to inform his parents where he was investing their money. People foresaw it as a failure but after 14 years, when he closed his partnership; it was worth more than $100 million. Instead of following the crowd, he went out of the box and looked for underrated investments and ended up vastly beating the market average every single year. To Buffett, what everybody is doing is doing is the average. He says ‘to be above average, you need to measure yourself’ which he calls as ‘Inner Scorecard’, that is ‘judging yourself by your own standards and not the world's.’

3. Never Suck Your Thumb

When you need to make money investing or money making decision, gather all information regarding it in advance and solicit a friend or relative to make sure that you stick to your self decided deadline. Buffett prides himself on swiftly making up his mind, taking a decision and executing it. He calls any unnecessary sitting and thinking as “thumb sucking.” Whenever people offered him a business or an investment, he on spot answer was always, “I won't talk unless they bring me a price.”

4. Spell Out the Deal Before You Start

Your bargaining power is always at its greatest before you begin a job. This is a time when you have something good to offer to the other party. Buffett learnt this lesson the hard way as a kid, when his grandfather Ernest hired him to dig out the family grocery store after a blizzard. The boys spent five hours scooping until he could barely straighten his frozen hands. Afterward, his grandfather gave him less than 90 cents. Warren Buffett was shocked to see that he performed such backbreaking work only to earn pennies per hour. Always nail down the particulars of a deal in advance even the deal is with your friends and relatives.

5. Watch Small Expenses

Warren Buffett invests in businesses which are run by managers who are obsessed even over the tiniest of cost. He once acquired a company whose owner counted the sheets in rolls of 500-sheet toilet paper to see if he was being cheated and Buffet really appreciated this. He also admired a friend who painted only the road facing side of his office building. Exercising alertness over every expense can make your profits and your paycheck.

6. Limit What You Borrow

Living mostly on credit cards and loans will not make you rich. Buffett has never borrowed a noteworthy amount, not even to invest or mortgage. He has gotten a number of heart rendering letters from people who thought their borrowing was manageable but became overwhelmed by debt. His advice: “Negotiate with creditors to pay what you can. Then, when you're debt-free, work on saving some money that you can use to invest,” as quoted on his official website.

7. Be Persistent

With obstinacy and resourcefulness, you can even win against a well established competitor. In 1983, Warren Buffett acquired the Nebraska Furniture Mart as he liked the way its founder, Rose Blumkin, did business. She was a Russian immigrant, who built the mart from a pawnshop into the largest furniture store in North America. Her strategy was to undersell the rich ones and she was a merciless delegate who was very good in negotiation. To Warren Buffett, Rose personified the unwavering courage that makes a winner out of an underdog.

8. Know When to Quit

Once, when Warren Buffett was in his teens, went to the racetrack. He gambled on a race and lost. To get back with his funds, he bet on another race. He lost again which actually left him with nothing. He felt sick and wasted nearly a week's earnings. But Buffett learnt from this and never repeated any such mistakes. He says, “Know when to walk away from a loss, and don't let anxiety fool you into trying again.”

9. Assess the Risk

In 1995, an employer of Warren Buffett's son, Howie, was accused by the FBI for price-fixing. Warren Buffett advised Howie to imagine the worst and best case scenarios if he stayed with his company. His son quickly realized the risks of staying in the company anymore and he quit the very next day. Hew says asking yourself “and then what?” can help you much more and will let you see all the possible consequences when you're struggling hard to make a decision.

10. Know What Success Really Means

Despite his wealth, Warren Buffett does not measure success as per the number of dollars. In 2006, he vowed to give almost of his fortune to charities, primarily to the Bill and Melinda Gates Foundation. He’s adamant about not funding monuments to himself. He doesn’t want any Warren Buffett buildings or halls. He says, “I know people who have a lot of money and they get testimonial dinners and hospital wings named after them. But the truth is that nobody in the world loves them. When you get to my age, you'll measure your success in life by how many of the people you want to have love you actually do love you. That's the ultimate test of how you've lived your life,” as quoted in his official website.

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Top 10 Richest Man from India in 2011

Mukesh Ambani lead a top ten dominated by industrial tycoons, including ArcelorMittal chairman Lakshmi Mittal, who came in second with a net worth of USD 19.2 billion.

Energy and metal barons Shashi and Ravi Ruia lie fourth with a combined worth of USD 10.2 billion.

Kumar Birla, head of the fabrics-to-cement Aditya Birla conglomerate, Adi Godrej of the Godrej Group and construction tycoon Pallonji Mistry -- the largest individual shareholder of the Tata Group and father-in-law to Noel Tata, touted as a likely successor to Ratan Tata -- are also in the top ten.
Many of those companies are benefiting from India's plans to spend USD 1 trillion in the five years to 2017 to overhaul its creaking infrastructure, seen as a barrier to continued economic growth.

Only one name from India's showpiece IT sector made the top ten: Azim Premji, chairman of Wipro, India's No. 3 software services provider, ranked third with a net worth of USD 13 billion.

Savitri Jindal, head of Jindal Steel and Power Ltd, was India's richest woman, sitting fifth on the list with a net worth of USD 9.5 billion. Jindal was one of only five women on the list of one hundred.

A USD 39 billion telecom scandal, likely India's largest ever graft scam, made its mark on the list, with two accused in the case, Vinod Goenka and Shahid Balwa, falling out of the top 100. Both deny any wrongdoing.
Debutants on the annual list include Kapil Bhatia and his son Rahul, founders of budget airline IndiGo, and V.G. Siddhartha, whose coffee shop chain Cafe Coffee Day gave him a net worth of USD 595 million.
India's biggest gainer in percentage terms was Brijmohan Lall Munjal, head of two-wheeler HeroMoto Corp, whose net worth rose to USD 2.7 billion in the year his firm ended a 26-year partnership with Japan's Honda Motor.

India's auto industry has seen car sales declining on high interest rates while families of four continue to buy two-wheelers, most of which can be bought without relying on loans.

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