Creating Wealth - Starting A Business - REPOST!!

One of the most important basic steps for creating wealth other than education is to find a product the consumer needs that may not be readily available through an alternate avenue and to be able to deliver that product.  Although I mentioned education; that is not really needed in the beginning when you think of all the child entrepreneurs who have become vastly wealthy.  However, to maintain the wealth attained; further education is needed.

Let's think about this small aspect of starting on the road to wealth.  In any given neighborhood in the city, you have a stay at home mom or a grandmother who makes freeze pops or freeze cups to sell to the neighborhood children on a hot summer day.  Some even have the snow cone maker with various cup sizes and a large variety of flavors.  Now for the snow cones, you may want to check with your city's business licensing department to find out if you need any special licensing.  This is best done beforehand than to have to pay fines or have a profitable summer business halted.

But let's say you are an employee of academia America and since you do not have to work for 2 1/2 to 3 months during the summer, you want to supplement your income.  Now of couse, this is the prime time to work another job but why would you?  You have every skill set you need to be in business for yourself and provide a lucrative service to your community.  A teacher can tutor during the summer with the wherewithal to set their own fees and hours of operation.  Basically, they can manage every aspect of this type of employment. 

Since you may not get rich being just a tutor, it will allow you the opportunity to increase your income.  And then you decide to start a learning center.  With the proper business research such as start up costs, location, vendors and the demographic you intend to serve; you would definitely be on the way to becoming financially independent.

Creating Your Own Wealth Commentary

One of the most important basis steps for creating wealth other than an education is to find a product the consumer needs that might not be readily available in a certain demographic and have the ability to produce, advertise and deliver that product.  Although I mentioned education; that is not really needed when you think of all the child entreprenuers out here today becoming wealthy.  However, to maintain wealth, further education is needed.

If A Child Can Get Rich, Why Can't You?

I previously wrote an article to provide you with encouragement to get started in your own business.  Sometimes it requires some research and other times, it requires just getting going.  Now I'm just going to provide you with the names and basic information of some child entrepreneurs.  The following information was collected from Yahoo! Finance.

Neha Gupta - started Empower Orphans when she was just 9 years old.  The non-profit raises funds for orphans in India.

Anshul Samar - started a gaming company when he was 12 years old.  He cleared $1 million in revenue his first year.

Remington Anne Smith - created Cook Time with Remmi, at the age of nine.  This is a cooking show that teaches children how to prepare simple and healthy meals in an effort to combat the growing problem of childhood obesity.

Farrah Gray - was a millionaire at 14 years old.  He started selling homemade body lotion and bookends at the tender age of six.  Gray embarked on numerous ventures both for profit ad for charity.  By the age of 24, he owned a real estate brokerage, his own online magazine and publishing company as well as being a successful author on empowerment and entrepreneurship.


The preceding information was collected from Yahoo! Finance.