If you are in a journey to create wealth then you must understand the four pillars which i am going to demonstrate under this blog because while creating wealth you will get disheartened and loose faith many times and will think that its not possible .
But if you understand the four principles well those impossible thoughts will start getting eliminated from your mind
Pillar No 1: Accounting
This is the language of finance,if you are poor in it you will loose many opportunities not because you are not talented and unworth of making money, its just because it will be tough for you to quickly understand anyones bussiness and execute a proper deal.
Like without programming it will be hard to create custom websites,like without language its hard to communicate,exactly like that in finance you need accounting
Pillar No 2: Understanding Market
You must have heard of stock market,i am not telling you to do trading or learning about that here but you must understand fundamentals market.
Like why there is bear market,what conditions are appropriate at that time,how can you plan.why these economic conditions have been emerged,who governs them and what lead to bull Run.
Who is leading the market,which sectors are getting buying pressure and why.
Al in all you why government printing more money less money and all those conditions which govern the market.
After having a good grasp of understanding markets you will automatically able to run any business profitably.
Not only that you can invest on other companies too appropriately.This is ectremely important and there any many aspects of market which governs its direction
Pillar No 3: Law
I am not saying here to become a lawyer,although if you can master this it will be added bonus in your wealth journey.
What I actually trying to refer here is that while doing any kind of business you will guaranteed face legal issues.
Every deal to get succesfully executed you need proper contracts and legal protections.
Even after getting deal succesfully executed of profits generate through business you need to handle your tax appropriately.
You need to understand the tax benefits and its maniplulation strategies.
For that not only you need well structured legal team but also organizational knowlege to encounter every hurdles of legal battles
Pillar No 4: Investing
Last but not the least you must understand demand and supply well in order to run a succesful business.Without you you struggle very hard as you can’t sell anything to anyone.
Irrelevancy is the no1 cause bussiness owners fail.As you can’t sell a finace book to a child who loves playing football even if that child is your own brother.
In order to grow your wealth you must understand where when the exact requirement is of your product and start selling to only those who desperately needed it and the rest will follow onwards by itself.
so while starting its compulsory to find the exactly people or ground who are in need to solve their problems which can get solved through your product.
And then the features,timing and other things get a role to play
Conclusion
So Remember to get your legal work done well while undesrtanding your markets and global markets completely while mastering accounting to start creating profitable business and start invest well and grow your wealth more and more