CategoryBusiness Management

How to Become a Millionaire Early

It is the dream of every young person to become rich and be able to cater for their needs and the needs of their families. But only a few people realize this dream. A good number of people that eventually become a millionaire achieved that in their 50s and some in their 60s. However, there are some people that become millionaires in their 30s or even before they turned 30 years of age. You too can also become a millionaire in your young age. It all depends on how you plan your life and how you execute your plans. Here are some tips that you can apply in order to realize that dream.

Keep increasing your income

As it is said, if you want to become a millionaire, you have to follow and pursue the money. This is another way of telling you to keep doing things that will help you to increase your salary. You cannot become a millionaire you remain on the same salary scale for years.  So, you should work hard to gain promotion in your office and you can also look for jobs with better job prospect if you want to grow and become a millionaire. In other words, if you are earning $2000 per month this year, next year look for a year that will give you more than that or try to get promotion in your office.

Show up and never show off

Many young people spend their money on the purchase or one item or the other rather than saving it or investment. Once they receive their salaries, they look for things to buy and in most cases,  they buy what they do not need or what new model of items they have already. They try to gain attention through material possession but it is better to be known for your contribution and achievement in your office rather by your material possession. If you continue in changing your material possession or continue to acquire new things, you will not be able to become a millionaire on time.

Save your money and invest it

Have a good saving culture. At this initial stage, you should go for only the things you need and then save the rest for future investment. The best way to go about it is to have a separate account that you will not be using for any reason. Put what is remaining after your monthly expenses in this account. Don’t be extravagant in your spending. Go for only things that you need and leave the rest as wants.

Don’t borrow money from any source unless for investment purpose

If you want to become rich, you should avoid borrowing money for any reason unless you are using it for investment. Manage what you. Most people borrow money to buy things while rich people borrow money to invest it in things that will yield money to them.

See money as a jealous lover

Your conception of money will depend on how you pursue it. If you love it and be jealous about, then you will pursue it will all your interest and strength. Definitely, you will get it if you pursue it jealously.

 

Top Reasons Why the Customer Is not Always Right

It is a common saying that the business sector that the customer is always right. This sentence was first used by Harry Gordon Selfridge in 1909. He was the founder of selfridge's department store in the capital city of England, London. The sentence is a marketing strategy employed to make the customers believe that they will get the best services from a company that uses it. Employers also use the term to make their employees to deliver the best services to their customers. In the practical and busy world of today, this sentence has to be reexamined or applied with caution. Experience has shown that the customer is not always right. Here are some of the reasons why the customer is not always right.

Some customers are difficult to handle

There are different types of personality and personality traits. Some people are difficult to please, fault finding and insatiable. There are also criminally minded customers who will like an employee to violate the policies of his or her business. Such customers always have reasons to pick quarrels with even the most polite and social employee. Any customer that comes up with a request that is very difficult or impossible to accept may not be right. Rude and saucy customers are not always right. If you are a manager and you get a report against your employee, you should try to look  into the matter critically before apportioning blame to your employee. He may be right and the customer may be wrong.

Some customers are not good for business

A good number of employers think that their business will do well if the increase their customer base. This is true but not always true in all circumstance. There are some customers that are not good for business. A customer can put up a behavior that will cause you a lot. Think of a situation where a financial institution in the effort to enlarge its customer base plays down on proper documentation and open accounts for everybody and give out loans to any person that applies for it. Such a financial institutions runs a risk of being dubbed. In your dealing with your customers, ensure that they are reliable ones. Any customer that is not willing to play according to the principles and policies of your business is not good one and may not be right always. So, for the reason that some customers are bad for business, the sentence that customers are always right do not hold any longer. 

Your employees are at a disadvantage position

Some customers insult the employees and talk to them anyhow simply because it is that customers are always right. This should not be the case. As an employer, you should protect the ego of your employees and do not allow any person to talk to them anyhow without giving them some respect. Your employees should be valued for the work they do.

Some customers are simply wrong

There are situations where the customers are simply wrong. For example, if a customer is doing something that is constituting a discomfort to an employee or interfere with his or her job, such a customer should be called to order or asked to behave properly. He is simply wrong in that regard. His action or behavior cannot prevent an employee from working. Consider a situation where somebody goes to a library and starts singing at the top of his voices simply because he is a customer of the library. They library attendant can stop him or her from such a behavior.

 

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