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7 Disgusting Businesses That Could Be Tomorrow’s Mega Money-Spinners

Our world is getting smaller, hotter and more crowded. Here are 7 gross ideas that could become tomorrow’s new multi-billion industries.

Monique Verduyn




1. Selling outdated food

What’s the idea?

Launching in May 2014, Daily Table, a business founded by US entrepreneur Doug Rauch, will sell food that’s past its sell-by date, cosmetically blemished or food that is excess. All this food will be brought onsite, and the company will cook prepared meals with it. It’s going to be priced the same as junk food. Daily Table will also offer milk, eggs, bread and produce.

Expired Food Sales-Weird Businesses

“Sell by” and “expiration” dates are just guidelines, say the experts

Problem solved

Most families know that they’re not giving their kids the nutrition they need, but many simply cannot afford to. Rauch aims to make healthy food available for the working poor at the same price as fast food by using expired food.

A recent report from the US Natural Resources Defence Council and Harvard Law School’s Food Law and Policy Clinic says Americans are prematurely throwing out food, largely because of confusion over what expiration dates actually mean. As much as 40% of food in the US – or the equivalent of $165 billion — is wasted, thrown away to fill landfills after spoiling in the refrigerator or pantry.


By selling food that is perfectly edible, with recently expired dates, Daily Table will help to eliminate some of the greenhouse gas (GHG) methane, which is given off by the 1,2 to 2 billion tons of wasted food thrown away by consumers in develop countries.

Doug told NPR in a recent interview that the name of the store will be called The Daily Table. The store will mostly sell fruit and vegetables and freshly prepared products. Rauch describes his new store as a hybrid between a grocery store and a restaurant.


2. Lab-grown hamburgers

What’s the Idea?

Dr Mark Potter, who has been working on growing meat in a laboratory since 2008, served his first lab-grown hamburger in London last year. It was then cooked in butter and oil, and served to two lucky volunteers. The technology to grow fat cells is still lacking, making the meat rather high in protein.

Frankenburger-Lab-Grown Meat

Problem solved

Growing meat in a petrie dish may not end world hunger any time soon, but more than one trillion cells can be grown from one cell taken from a cow – enough for ten tons of meat. The burger “lived” in a dish for three months – a shorter period of time than it takes for a cow to grow to adulthood.

Some 40% of the world’s land surface is used for the purposes of keeping all 7 billion of us fed. In addition, the Food and Agriculture Organisation estimates that livestock is responsible for about 18% of human-caused greenhouse gases.

Lab Grown Meat-Weird Businesses-Disgusting Businesses

Looks like a burger, smells like a burger, tastes (almost) like a burger


Potter took muscle stem cells from a cow’s shoulder in a gentle biopsy and grew them in calf serum, with micro-exercise so they wouldn’t be flabby. A total of 20 000 cells were then assembled into a burger, bound with bread crumbs and egg, coloured with beet juice and saffron, and presented it to the public.


3. The New Protein: Eating Insects

What’s the idea?

Eating insects is good for you, apparently. They’re low in fat and are packed with protein. They’re also loaded with iron, thiamine and niacin, more commonly known as vitamins B1 and B3.

The UN Food and Agriculture Organisation released a report in 2013 which revealed that there are more than 1 900 edible insect species on Earth, hundreds of which are already part of the human diet in many countries. Around two billion people eat a wide variety of insects regularly, both cooked and raw. It’s only people in Western countries who gag at the idea.

Feeding insects to pets is not a new concept either. Population growth, climate change and agricultural and fishing needs are having a great impact on the global protein supply. The move to feed our pets the same as ourselves is adding greater demand for protein. A sustainable solution that is being considered is the use of insects as a protein source for pet food.

Eating-Insects-Weird Business Ideas

Could this be the future of food?

Problem Solved

As the population approaches 8 billion, feeding all those hungry people is becoming increasingly difficult. A growing number of experts claim that people will soon have no choice but to eat insects.

Entomophagy, the consumption of insects as food, is a safe and healthy way to help reduce pest insects without using insecticides. Besides their nutritional value, insects are also abundant and environmentally sustainable. Farming and harvesting insects takes very little water and transport fuel compared to livestock, grains and even vegetables. 50kg of feed produces less than 5kg of beef. The same amount of feed would produce more than four times that amount in crickets. 30% of the world land mass is presently used to graze or raise food for livestock. Insects require much less land. They also convert food into protein much more efficiently than livestock do, which means they need to eat far less, and they emit far fewer greenhouse gases than most livestock.

Plus, gathering and farming insects can offer new forms of employment and income, especially in developing tropical countries where a lot of edible insects live.

That helps to explain why 36 African countries are “entomophagous,” as are 23 in the Americas, 29 in Asia, and 11 in Europe. In the future, insects could help to provide a sustainable food source.

Insect Skewers-Insect Food-Disgusting Businesses

Master Chef: Yummy skewered maggots

Before eating insects, they should be fed on fresh grains for a couple of days. This will clean out anything unpleasant they may have eaten. They can be eaten raw, but it’s safer to cook them and it will improve the taste.

One common rule of thumb you can follow is:

  • Red, orange yellow, forget this fellow.
  • Black, green or brown, wolf it down.


Read Next: 8 Ways to Come Up With The Next BIG Idea

4. A urine-powered generator

What’s the Idea?

Four young Nigerian girls have invented a generator that runs on urine. The invention was first displayed in Lagos in 2012. A litre of urine can be used as fuel for generating six hours of electricity.

Problem solved

Power outages happen many times a day in Lagos, and not everyone can afford to have a backup generator. It’s possible that the girls’ idea can be applied beyond just power generators, as gasoline-powered internal combustion engines can be converted relatively easily to run on hydrogen.

Urine Powered Generator-Disgusting Business Ideas

Bringing pee power to the people


The system separates urine into nitrogen, water and hydrogen. Urine is put into an electrolytic cell, which separates out the hydrogen. The hydrogen goes into a water filter for purification, which then gets pushed into the gas cylinder. The gas cylinder pushes hydrogen into a cylinder of liquid borax, which is used to remove the moisture from the hydrogen gas. This purified hydrogen gas is pushed into the generator.


5. Green-Friendly Burial OptionsGreen-Friendly-Burials

a. Dissolving your loved ones

What’s the idea?

Unless your loved one has specifically requested a Tibetan sky burial, there are currently two ways of disposing of dead bodies: they can be buried in the ground, or cremated.

However a new burial technique called resomation is being promoted by a group of pioneering Belgian scientists who have developed it as an environmentally friendly alternative to traditional burial methods.

Problem solved

For the eco-conscious, the disposal of the departed poses a dilemma. Both cremation and burial distribute contaminants into the natural atmosphere, particularly cremation which leads to the release of CO2.

According to UK company Resomation Ltd, The introduction of resomation would provide consumers with more choice in deciding how their body is taken care of after death. The energy needed for the process in the form of electricity and gas is less than one-seventh of the energy required for a cremation. In the UK up to 16% of all mercury is estimated to be emitted from crematoria because of the fillings in teeth — resomation produces no airborne mercury emissions. Sterile liquid is safely returned to the water cycle free from any traces of DNA. The introduction of a third means of dignified disposal has the potential to ease the pressure of burial space which, in many countries, is in short supply.

Resomation-Burial Options-Disgusting Business Ideas

Departing the world in an eco-friendly flurry of dust


Resomation involves placing the corpse in a pressurised container filled with water and alkaline, allowing the body to essentially dissolve, leaving nothing behind but white dust.


B. Going back to the land

What’s the idea?

For more than 20 years, a fascinating consumer movement has been taking place in the UK — natural burial grounds are spraining up across the country. People are buried in biodegradable containers, without formaldehyde-based embalming fluid or synthetic ingredients, and returned to the earth to compost into soil nutrients with a forest of trees marking the spot. It’s an idea that’s taking off in Australia, New Zealand, the US, Europe and South Africa too.

Problem solved

It is estimated that in the US alone more than 60 000 tons of steel and 4,8 million gallons of embalming fluid are buried each year. That is enough steel to build eight Eiffel Towers and fill eight Olympic size swimming pools, according to researchers from Cornell University. The environmental impact of “full-service” burial, including a casket, vault, tombstone, and flower wreaths, is considerable. Most cemeteries now have little space for native plant or animal life. The danger of mercury and particulate emissions from crematoriums is also a concern.


People who choose green burials don’t use concrete vaults, traditional coffins with metalwork or any embalming chemicals. Instead, the body is wrapped in biodegradable shrouds or placed in a pine coffin and laid to rest where it can decompose and become part of the earth.

Other options are available for green caskets, often called ecoffins. These coffins can be made of bamboo, pine, woven willow, recycled cardboard and even cord from dried banana plants. Green burials can be less expensive than conventional funerals because they do not incur the costs of embalming and metal or expensive wooden caskets.


Biodegradable Coffins-Burial Options

Dying to do the right thing

Read Next: Is Upcycling Your Money-Maker?

Using human waste as manure

What’s the idea?

Synthetic fertilisers have helped fuel a food boom over the last century, but they also contribute greatly to climate change. There’s now a growing drive for a return to the ancient practice of using human waste as fertiliser. It’s an idea that is catching on, and it could help to contain our climate problem.

Problem solved

Human waste is full of nutrients. In a year one person produces the equivalent of about 6kg of nitrogen fertiliser, and a lot of phosphorus. Experts say that’s enough to replace a big chunk of the world’s synthetic agricultural fertilisers, which currently cause massive pollution problems when it comes to recycling.

Beyond that, there is the question of saving energy. It takes lots of electricity and natural gas to make synthetic fertiliser, and the process produces huge amounts of greenhouse gases.

In the US, the production and transportation of fertiliser accounts for a third of the energy used for growing crops. Synthetic fertilisers also produce the powerful greenhouse gas nitrous oxide. Replacing them with nutrients from human waste could be a great benefit for the plant.


Recycling human waste into fertiliser makes a lot of sense, but only if it’s done safely. Sewage needs to be composted for nine to 12 months to let the pathogens die off. The World Health Organisation recommends using gloves and boots when working with human waste. Spreading the knowledge of safe practices could change the way we think about human waste and help to combat climate change.

Human Manure-Burial Options-Disgusting Businesses

Don’t waste your waste: China’s farmers have used human manure as fertiliser for thousands of years


Monique Verduyn is a freelance writer. She has more than 12 years’ experience in writing for the corporate, SME, IT and entertainment sectors, and has interviewed many of South Africa’s most prominent business leaders and thinkers. Find her on Google+.

1 Comment

1 Comment

  1. Chenai S Kadungure

    Jun 19, 2014 at 14:24

    Wow.I had a lady tell me about breeding poisonous snakes for their venom.Horses require venom medication,and we have already seen that horse related services are big business.Disgusting is now worth discussing it seems! 🙂

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21 Choices Millionaires Make That You Aren’t Making But Should Be

Besides thinking differently, you have to work harder to achieve the kind of financial success you’re after. These millionaire tactics can help you.

Diana Albertyn




Here are 21 choices the world’s wealthy make that have brought them to and kept them at the top of their finances and lives:


Think Like a Millionaire

From the moment you get out of bed, you’re defining your own financial future. Without even thinking about money, the decisions you make in every aspect of your life affect how close you get to attaining more than just comfort, but real wealth.

Thinking big must come naturally


Think Big

Whether you think you can or whether you think you can’t, you’re right. Henry Ford knew what he was talking about. From a gasoline-powered horseless carriage, to the cars we drive today, no one would have blamed him for thinking his ideas were far-fetched – but he did it anyway.

If not you, then who? That’s how rich people think, asks T. Harv Eker in his book Secrets of the Millionaire Mind.

The only thing standing between you and your first million is your mindset. Small thinking produces small results, and aiming low won’t get you where you want to go.

They invest in their physical and mental health


Invest In Your Health

Self-development is a choice – and you’re probably not making it.  Balance is key when climbing your way to success, so skipping gym in favour of burning the midnight oil or sleeping in could be harming your efforts.

According to Thomas Corley in his book Change Your Habits, Change Your Life, cardio is not only good for the body, but also the brain.

“It grows the neurons (brain cells) in the brain,” he says. “Exercise also increases the production of glucose. Glucose is brain fuel. The more fuel you feed your brain, the more it grows and the smarter you become.”

Join 76% of some of the world’s wealthiest who work out at least 30 minutes a day.

Getting a head start gets them going


Get a Head Start

Squeezing in a cardio session a few days a week requires you to make time, so getting up early is a prerequisite.

How early? Try three hours before you’re due at work. This give you time to navigate the inevitable daily disruptions that could so easily derail your day.

These disruptions have a psychological effect on us, says Corley. “They can drip into our subconscious and eventually form the belief that we have no control over our life,” he explains.

Getting up early affirms that you’re in control of your life and that confidence alone is enough to get you through the day.

They know they’re in control


Know You’re In Control

You can either let things happen to you or regain the reins on your life. Rich people do the latter, as Eker explains:

“You have to believe that you are the one who creates your success; creates your mediocrity, and your struggles around money and success.”

It comes down to a mindset shift that can only be achieved when you acknowledge the power you possess over your life, and the direction in which it’s headed.

The risks they take are calculated


Calculated Risk

While average people play it safe, the rich know that every investor loses money on occasion, and there’s always room to make more cash.

“One group stays awake worrying about losing what they have, while the other can’t sleep because they’re dreaming of what’s possible,” Corley says.

Making money is never going to be guaranteed, but knowing what ‘good’ risks to take can make you wealthy.

Money doesn’t come first for them


Money Comes Second

The reason they keep going to almost insane levels is that wealthy people are doing what they love to earn the money they have.

You’ve heard people say you need to find a job you don’t need a vacation from – well, that’s the secret to getting and staying rich. Do what you love and then find a way to get paid for it. It’s not about doing a job you hate just for the money.

“Members of the middle-class have been trained in school and conditioned by society to live in a linear thinking world that equates earning money with physical or mental effort,” says self-made millionaire Steve Siebold.

They are bigger than their problems


Be Bigger Than Your Problems

A bad day doesn’t mean a bad life, and no one knows this more than financially successful people.

The routine you read about being so important earlier can easily get derailed, and you have to make a conscious decision not to ruin your day. Focus on your goals instead, says Eker: “The road to wealth is fraught with traps and pitfalls, and that’s precisely why most people don’t take it. They don’t want the hassles, the headaches, and the responsibilities. In short, they don’t want the problems.”

He says the secret to success is to grow yourself so that you’re bigger than any problem you may encounter.

Their inner circle is also rich


Rich Inner Circle

This is more than just about birds of a feather flocking together. The right crowd comprises positive and successful people. This motivates you to do better as you’re surrounded by inspiration, proving it can be done.

According to Eker, the fastest and easiest way to create wealth is to learn exactly how rich people, who are masters of money, play the game. Be grateful to have a template for success instead of being jealous of their achievements.

Opportunities are their main focus


Focus On Opportunity

What’s your outlook on challenges? Successful people see opportunities where the average person would see an obstacle. They’re always focused on what they can learn from something instead of worrying about the negative impact it may have on their plans.

Peak performance coach Phil Drolet believes that rich people choose to see everything as a blessing; as a stepping stone for something greater.

“That way, you can start developing the mindset that will lead you to exceptional wealth,” he says.

They don’t use their own money



It’s said it takes money to make money, but no one said it had it be your own. “Rich people know not being solvent enough to personally afford something is not relevant,” says Siebold.

“The real question is, ‘Is this worth buying, investing in, or pursuing?’ The truth is you have to have great ideas that solve problems to make money. If you do, you will attract money like a magnet.”

Investors don’t feel like they’re giving away their money, but helping solve a problem. It’s a win-win situation.

Despite fear, they act


Face Your Fears

“If you want to create your greatest life, you have to tame the beast of fear,” says Drolet. “Fear will never completely go away, but it’s the ability to ‘feel the fear and do it anyway’ that separates those who create their dream life and those who simply dream about it.”

That’s why wealthy people are few and far between – they face their fears, acknowledge them, and get on with it. It’s the only way to learn and grow.

Their money works for them


Financial Returns

You’ve worked so hard for the money you have now. You don’t have to keep working as hard to grow it substantially. Passive income is the best tool to building your wealth, so don’t just keep your money in that investment account – invest it so it works for you (almost) as hard as you worked for it.

Money in the bank won’t make you rich, and successful people know that. It’s of no use if it’s waiting for you to need it, when it could be multiplying right now.

Their net worth trumps money in the bank


Net worth is a combination of your income, savings, investments and cost of living – not how much is in your bank account right now.

Eker explains that your net worth is the financial value of everything you own and that’s why it’s the ultimate measure of wealth: “If necessary, what you own can eventually be liquidated into cash.”

Successful people, therefore, focus on optimising what they earn, how much they spend and their savings and investments to acquire and keep their wealth.

They know not all assets are equal


The Simple Things

“Things don’t make you rich. Image doesn’t make you rich.” Financial planner Ian van Greunen learnt this valuable lesson from his father when he started working. “He told me that a good suit has its name on the inside.”

He notes that wealthy people don’t have fancy lifestyle choices that put them in a negative vortex of spending on assets that don’t appreciate.

Flashy cars and high-end labels make you look and feel good, but they’re not part of the bigger picture you’re trying to achieve, right?

Even their smallest decisions are smart


Smart Decisions

Your spending habits could be standing in the way of you becoming wealthy. That latte from the coffee shop every morning. That sandwich from the deli every day. That pack of cigarettes that could be costing you up to R1000 a month. They add up.

“Assuming that you work for 40 years, you would spend R480 000 on cigarettes over the course of your working life,” Van Greunen theorises. But, what if you invested that same amount instead?

“Assuming inflation rates of 5% and that we could invest that money to achieve a real return 5%, if we took that smoking habit and invested it over 40 years you would accumulate R6 million,” he says.

So, consider this: What is the real cost of your spending habits?

They choose property wisely


Choosing Property

Property is only an asset if you’re making money from it. If you’re going to purchase an expensive home, ensure it’s going to appreciate enough for you to benefit off its sale, or that you’re able to rent it out and make a sizeable return – you can even do both.

Van Greunen, however, recommends the home you live in should be modest, like most of the world’s wealthy. “You do not become a millionaire by living in a million dollar house in a million-dollar suburb,” he says. “Most millionaires buy existing homes in the average suburb.”

He suggests this formula to determine how much you should be spending: “Take your total household income per annum and multiply that by three. This should be the highest amount you spend on a home.”

The things that make them rich would surprise you


Living On a Budget

Some of the highest paid professionals in South Africa still don’t save enough. Why? Because having a high income doesn’t mean you’re wealthy.

“Wealthy people, as much as they hate doing it, run their lives every month on a budget,” says Van Greunen.

If that sounds like too much admin, consider how much longer it’ll take to reach your financial goals if you’re not monitoring the ins and outs of your money. And if you think your money isn’t a big enough sum to manage, you’re wrong.

“The habit of managing your money is more important than the amount,” says Eker.

They aren’t concerned with humility


Self Promotion

You know your capabilities, can name all your achievements and probably know your worth. So why shouldn’t everyone else? Self-promotion isn’t a bad thing – just ask all the successful people who promote themselves, their ideas and their products with enthusiasm.

Believe it or not, you can do this without (most) people thinking your ego is as big as the amount of money you’re looking to get them to spend.

There’s even an award for it that author Tim Ferriss won in 2008: The Greatest Self-Promoter of All-Time.

They’re committed to making money


Making Money

Working hours are going to get longer if you want your earnings to get larger. If you’re not going all in, it’ll be evident in the result of your money-making efforts.

“Getting rich takes focus, courage, knowledge, expertise, 100% of your effort, a never-give-up attitude, and of course a rich mindset,” Eker notes. “Rich people are unwavering in their desire to attain wealth. As long as it’s legal, moral, and ethical, they will do whatever it takes to have wealth.”

Clarity is key, as Drolet says, you have to be absolutely clear in your mind that you’ll create exceptional wealth, and you will.

They are trailblazers



“You can’t sit with us” is music to a successful person’s ears. They’re going to find a new table and get other people to sit with them, because who wants to be part of the herd when you can lead your own?

According to Corley, failure to separate yourself from the herd is why most people never achieve success. “We so desire to blend in, to acclimate to society, to be a part of the herd, that we will do almost anything to avoid standing out in a crowd,” he says.

You don’t need to be popular to be great. Everyone’s doing one thing, so naturally doing something else, you really care about, should earn you greater success.

They’re in it to win it


In It to Win It

Most people want to have just enough to cover their living expenses, go out once in a while and vacation somewhere nice once a year.

If you think like this, that’s all you’re going to get. Aiming to be financially comfortable isn’t enough, because you’re going to make just enough to survive and not a cent more, says Eker.

Next slideshow: 8 Rules To Build Wealth When You Weren’t Born Into Money

8 Rules To Build Wealth When You Weren’t Born Into Money_Financial Management

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8 Rules To Build Wealth When You Weren’t Born Into Money

Use these eight rules to build wealth when you weren’t born into money. The harder you work at these rules the closer you’ll get to achieving the wealth you want.

Nicole Crampton




Here are eight rules to build wealth when you aren’t born into money

99% of people aren’t born into wealth, and have to work their whole lives to achieve six-zero figure financial freedom.

“If something is important enough, even if the odds are against you, you should still do it,” says Elon Musk. The path to wealth, for numerous people, is complicated and filled with obstacles and is unique to their specific circumstances, But, their determination to reach their goals allows them to make the money they always wanted to make.

You’ll need to make smart decisions in your personal and professional life to build your wealth up over time. “Great wealth builders focus on both saving money and earning more,” says Todd Tresidder of It’s a twofold system that you’ll have to operate the best of your ability.

Rule 1: Pay off high-interest debt


Escape debt


Your first step to achieving wealth is to settle outstanding debt. If you’re holding significant debt, you won’t be able to make new investments or buy assets. You’ll find yourself spending all your disposable income on paying off the interest and never really getting to the principle amount. This puts you in a circle of debt where you never make any progress.

“Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this,” says Dave Ramsey.

Once you’ve dedicated more money to servicing debt, and you’ve paid off high-interest accounts, you can progress to investments and saving larger portions of your salary. You can now use your excess debt instalments for your investments, and the interest you’re earning will now build on your wealth instead of taking away from it.

Rule 2: Always have money left at the end of your month


Manage your monthly finances

This rule is an easy concept, but challenging to put into practice. If you want to grow your wealth, you’ll need to ensure your monthly expenses are less than your monthly income. “It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for,” says Robert Kiyosaki.

The key to following this rule effectively is lowering your spending so you can increase your savings. You can start by slowly putting away a certain amount every month. Keep in mind you still need to pay your bills and live comfortably, which means the amount of money you put aside needs to be any extra cash you have left over.

Rule 3: Take advantage of tax-free savings accounts


Tax free savings

With a tax-free savings account, you can put aside a specific amount every month that you don’t pay tax on. The money you’ve saved, should you need to withdraw some of it, or all of it, won’t be penalised by the taxman. “Try to save something while your salary is small; it’s impossible to save after you begin to earn more,” says Jack Benny.

Take advantage of this investment offer before your expenses grow along with your salary and you find it difficult to put anything aside.

Rule 4: Develop wealth building habits


Wealth building habits

You need to adopt habits that lead to wealth and help you to build a solid financial foundation. Multiple, small smart choices consistently conducted over time, will create wealth. But, it needs to be consistent and over a long period of time. “Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do,” says Mark Twain.

Wealth building is not a get rich quick scheme, it will take years, potentially decades, but if you’re diligent you can reach your goals.

Rule 5: Hustle. Hard



You need to work harder than everyone else around you because if working at average speed could grow wealth, everyone would be wealthy.

“There is no such thing as overnight success or easy money. If you fail, do not be discouraged; try again. When you do well, do not change your ways. Success is not just good luck: it is a combination of hard work, good credit standing, opportunity, readiness and timing. Success will not last if you do not take care of it,” says Henry Sy.

Hard work will help you to accomplish your wealth making goals. “I still work hard to know my business. I’m continuously looking for ways to improve all my companies, and I’m always selling. Always,” says Mark Cuban. You need to always be considering ‘how can I work harder?’, but also smarter to increase wealth. Don’t become complacent about your methods, as it could lead you down a challenging wealth creation path.

Rule 6: Create multiple revenue streams


Multiple revenue streams

Investing your savings is a way to create multiple revenue streams. There is also the potential of part-time work, but note that freelance work is growing in popularity amongst those looking to increase their incomes.

“Building wealth is about creating value and then recapturing that value in financial compensation. Whether it’s providing services, knowledge, or experience, if you aren’t creating value then there’s nothing for you to build wealth with,” says Jim Wang of and “This value can also take many forms. It can be actual monetary value or it could be providing entertainment or saving time or reducing headaches. The more creative you are, the more opportunities you’ll see.”

Rule 7: Know how to manage your money


Manage your money

You need to learn how to work your money so that it benefits you the most. “The single biggest difference between financial success and financial failure is how well you manage your money. It’s simple: to master money, you must manage money,” says T Harv Eker. Without this skill your money is going to underperform and it will take a lot longer to reach your goals of wealth.

Until you study up and learn how to manage your money, you could try this suggestion from T Harv Eker: “If you don’t have the money management skills yet, using a debit card will ensure you don’t overspend and rack up debt on a credit card.”

Rule 8: Hire expert help


Hire a financial expert

If finance is not your area of expertise, and you’ve accumulated knowledge but now you need insight that can only be delivered by a professional, then you need to hire them.

“The wealthy person has three best friends: her attorney, her accountant and her adviser. The wealthy tend to use the law and tax code to their advantage when figuring out how to maximise their wealth, especially over multiple generations, and they are not afraid to spend money up front for counsel to get these answers,” says Justin Kumar, a portfolio manager. “The wealthy look at value over cost, but they are still prudent in their decisions.”

Once you’ve implemented every rule, start again, ensure that you’re constantly working on improving your finances, reducing your expenses, increasing your savings and investments. Once you have the rhythm of wealth-building in your genes, stick with it until you reach your financial goals.

Next slideshow: 20 Things Millionaires Aren’t Sharing With You


Richard Branson

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20 Things Millionaires Aren’t Sharing With You

Want to find the secret sauce that helps regular people achieve wealth? Here are 20 insights that millionaires aren’t sharing that can help you become a tycoon too.

Nicole Crampton



millionaires secrets

Here are 20 secrets to wealth creation that millionaires aren’t sharing with you

Richard Branson virgin companies

Richard Branson

Millionaires have particular habits and strategies in their daily lives that result in them becoming wealthy.

There are 46 500 millionaires, 2 060 multi-millionaires and 639 ultra-high net worth individuals (+ 30 million) in South Africa, according to Knight Frank’s Wealth Report 2016. This shows that more people are figuring out how to achieve financial freedom, but the question remains; how are they doing it?

Spend less than you earn


Dave Ramsey

Over the long run, you’ll be better off if you strive to be anonymously rich rather than deceptively poor.

“Financial peace of mind isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this,” says Dave Ramsey, an American businessman, author, radio host, television personality, and motivational speaker.

The more money you don’t spend the more you can accumulate and invest, and turn into passive income, which in turn will grow your wealth.

Related: 4 Bad Money Habits That Have Left Millionaires Broke

Keep your focus

Charlie Munger

Charlie Munger

You won’t become a millionaire overnight, so you’ll need to keep your focus and remain patient until it happens.

“If you took our top fifteen decisions out, we’d have a pretty average record. It wasn’t hyperactivity, but a hell of a lot of patience. We stuck to our principles and when opportunities came along, you pounced on them with vigour,” says Charlie Munger, vice chairman of Berkshire Hathaway.

Numerous millionaires make it to their end goal by saving and investing, and slowly over time they become millionaires. Patience and focus can help you achieve your wealth goals.

Weigh-up value versus worth

Warren Buffett

Warren Buffett

The reason people are reaching millionaire status is because they aren’t buying the flashy cars and the fancy houses. They’ve learnt from Warren Buffett’s example and they still live in the same house and they still drive ten-year-old sedans.

“Too many people spend money they earn to buy things to impress people that they don’t like,” said Will Rogers, a stage, motion picture actor and social commentator.

It takes a particular type of person that doesn’t care what people think, and is focused on their goal to forgo spending money to impress others.

Related: The 6 Attributes Shared By Young Millionaires

Pay off your monthly debts


Suze Orman

As any financially savvy person knows, no matter how much you earn, if you still have debt it’s going to eat away at your income.

“The only way you will ever permanently take control of your financial life is to dig deep and fix the root problem,” says Suze Orman.

It may not feel like you’re moving forward by paying off your debt, but once it’s gone everything extra you make can start earning interest and growing your wealth.

Money will never buy happiness

Coco Chanel

Coco Chanel

Money does allow you to achieve financial freedom, but remember: “There are people who have money, and there are people who are rich,” says Coco Chanel. Money can provide an easier life, but that should not be mistaken for happiness, you’ll need something else to drive you to achieve millionaire status.

“Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort,” Franklin D Roosevelt said.

Related: (Slideshow) Best Advice From Self-Made Millionaires

Financial freedom is a mind-set


Robert Kiyosaki

Financial freedom is a state of mind that comes from being debt free, which you can attain regardless of your income level.

“Financial freedom is a mental, emotional and educational process,” says Robert Kiyosaki.

You need to have the right mind-set to achieve the millionaire status or you won’t make it to the finish line. When you have no debt, you can take more risks.

“Every risk is worth taking as long as it’s for a good cause, and contributes to a good life,” adds Richard Branson.

Have multiple sources of income

Dave Ramsey

Dave Ramsey

Getting a second job not only increases the size of your income, but also keeps you busy, and a busy person doesn’t have time to spend the money they already have. Never depend on a single income. Make investments to create a second one,” says Warren Buffett.

On the other hand, if you aren’t knowledgeable in the stock market, then perhaps start your own business on the side.

“The best thing you can do is start a home-based business,” adds Dave Ramsey.

Related: 15 Ways Millionaires Manage Their Money That Make Them Richer

Manage your money to attain growth

T. Harv Eker

T. Harv Eker

You can’t expect your money to grow and mature if you aren’t using some form of credible money management.

“The single biggest difference between financial success and financial failure is how well you manage your money. It’s simple: To master money, you must manage money,” says T Harv Eker.

Without financial management, your money isn’t going to do anything, you need to be proactive and work your money every day to ensure maximum growth.

“If you look at the average amount of money you will earn over your lifetime, and figure out how many years you are working, most people earn more than a million dollars over their working life, but very few people become millionaires,” says Nancy Butler, a certified financial planner.

“How they manage what goes through their fingers usually makes the difference.”

Pay yourself first


Paying yourself first means saving before you do anything else

Paying yourself is an essential strategy of personal finance and a great way to build your savings and instil financial discipline.

“Paying yourself first means saving before you do anything else,” says David Blaylock, a financial planner.

“Try and set aside a certain portion of your income the day you get paid, before you spend any discretionary money. Most people wait and only save what’s left over — that’s paying yourself last.”

Paying yourself first will allow you to grow your wealth and increase your principle investment every month.

Related: 6 Skills Of Self-Made Millionaires That You Should Be Using, Too

Have a passion for your work

Steve Jobs

Steve Jobs

People say you have to have a lot of passion for what you’re doing and it’s totally true. The reason is because it’s so hard to succeed in business that if you don’t, you might give up. You have to do it over a sustained period of time. So if you don’t love it, if you’re not having fun doing it, you don’t really love it, you’re going to give up. And that’s what happens to most people.

If you really look at the ones that ended up being ‘successful’ in the eyes of society and the ones that didn’t, oftentimes it’s the ones who were successful that loved what they did, so they could persevere when it got really tough. And the ones that didn’t love it quit because they’re sane, right? Who would want to put up with the stuff if you don’t love it?

“So it’s a lot of hard work and it’s a lot of worrying constantly and if you don’t love it, you’re going to fail,” said Steve Jobs.

Don’t underestimate a well thought-out plan

Denis Waitley

Denis Waitley

As the saying goes, if you fail to plan, you’re planning to fail. Millionaires that reach this milestone without a plan, usually, get there through luck, and what are the odd that’s going to be you?

“The reason most people never reach their goals is that they don’t define them. Winners can tell you where they are going, what they plan to do along the way, and who will be sharing the adventure with them,” says Denis Waitley, Human Achievement Expert.

It’s not enough to declare that you want to be financially free; you have to work out every step to get there.

Related: The 10 Strangest Secrets About Millionaires

Set big hairy audacious savings goals

Henry Ford

Henry Ford

Don’t be afraid to think big when setting your savings goals.

If you always do what you’ve always done, you’ll always get what you’ve always got,” said Henry Ford.

Don’t be afraid to really go after what you want even if it’s hard, or you’re uncertain you can make it.

Financial success demands that you have a vision that is larger than you can currently deliver on.

Work harder than anyone else

Mark Cuban

Mark Cuban

Hard work can often help to make up for a lot of financial mistakes throughout your journey to success, and you will make financial mistakes.

“I still work hard to know my business. I’m continuously looking for ways to improve all my companies, and I’m always selling. Always,” says Mark Cuban.

Hard work can literally set you apart from your competition and help you to reach your goal faster.

“There is no such thing as overnight success or easy money. If you fail, do not be discouraged; try again. When you do well, do not change your ways. Success is not just good luck: It is a combination of hard work, good credit standing, opportunity, readiness and timing. Success will not last if you do not take care of it,” says Henry Sy, Sr.

Related: 5 Things Millionaires Do That Most People Don’t

Ensure your long term success by insuring yourself

Arnold Schwarzenegger

Arnold Schwarzenegger

Bankruptcy is a reality and can come for you at any time. It can be triggered by variables including: Death, divorce, disability or even a poor investment.

“If you have made mistakes, even serious ones, there is always another chance for you. What we call failure is not the falling down, but the staying down,” says Mary Pickford.

When you insure yourself against risk it gives you time to course correct and save your future.

“Strength does not come from winning. Your struggles develop your strengths. When you go through hardship and decide not to surrender, that is strength,” says Arnold Schwarzenegger.

Time is most precious


Warren Buffett

If you begin saving in your twenties, you can take maximum advantage of the power of compound interest for your savings.

“No matter how great the talents or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant,” says Warren Buffett.

Remember that you’re playing the long game, and sometimes the only way to achieve millionaire status is to keep doing what you’re doing for long enough.

Related: 8 Tips To Become A Millionaire This Year

Keep your money hidden from you


You can’t spend what you can’t see. You should use debt orders to pay your retirement and other savings accounts. As your salary increases, you can painlessly increase the size of those deductions to ensure you put money aside every month.

“If you want to get rich, you’ll need to save what you earn. A fool can earn money; but it takes a wise man to save and dispose of it to his own advantage,” says Brigham Young.

Pay off your large scale debt


Once you’ve paid off your house and any other large scale items, you can direct those payments into your savings as well.

“To acquire money requires valour, to keep money requires prudence, and to spend money well is an art,” says Berthold Auerbach.

Ensure you’re spending your money on what really matters and not just the interest on your debt.

Related: How To Go About Making Your First Million

Your salary’s only half the story

Robert Kiyosaki

Robert Kiyosaki

Climbing up the corporate ladder will only get you so far, eventually you will have to make your money work hard for you.

“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for,” says Robert Kiyosaki.

Generating income from passive, rather than active, income sources is the best way to do this.

Timing isn’t (always) everything


Are you looking at other forms of investment?

No one can really predict the market; in order to be wealthy you can’t moonlight as a day trader.

“Time [period] is more important to investment success than timing,” explained Peter Lazaroff, a financial planner.

“Most of the population believes that timing the market’s moves is the key to growing rich through the stock market. The wealthy, however, understand that time and compound returns are the most important factor in growing wealth.”

Achieving millionaire status requires investors to adopt a buy-and-hold strategy, ride out market fluctuations and ignore rumour and speculation.

Related: Becoming A Self-Made Millionaire: 5 Things To Do To Become Wealthy

Value vs cost: Understand the difference

Value vs cost

Value vs cost.

Paying for consultants to give you insights into growing your wealth shouldn’t sound counter-intuitive, especially if this isn’t your area of expertise.

“The wealthy person has three best friends: Her attorney, her accountant and her adviser. The wealthy tend to use the law and tax code to their advantage when figuring out how to maximise their wealth, especially over multiple generations, and they are not afraid to spend money up front for counsel to get these answers,” says Justin Kumar, a portfolio manager.

“The wealthy look at value over cost, but they are still prudent in their decisions.”

Next slideshow: 15 Wise Money Quotes From Millionaires And Billionaires

Robert Kiyasoki

Robert Kiyasoki

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