What are simple business people to earn income

7 secrets to making big bucks

Everyone wants a little more, or even a lot more money. Below are some tips that can help you achieve this goal, based on the book by Sam Wilkin, an economist at Oxford University. This specialist studied the history of great fortunes from Roman times to the billionaires of the IT sector of our time.

Tip 1: wealth creates wealth

Wealth creates wealth, so real estate owners benefit from rental income, landowners benefit from crops, and so on. One of the billionaires in the United States is John Rockefeller, who owned 90% of the country's refining capacity.

Nowadays it is enough to use social networks to generate income. These networks are very lucrative and you just have to know how to use them. One of the most prominent examples is AT&T, which held the US monopoly until 1982. The telecommunications company threatened its competitors with the loss of the ability to contact customers with an AT&T number, which secured its dominance in the US.

Tip 2: the monopoly, this gold mine

If you have a monopoly, you can only get rich. This simple rule was used by the von Thurn und Taxis family, whose fortune can be traced back to the legacy of their ancestor, who operated the imperial Reichspost as the only functioning postal service in Europe. Vladimir Putin has enriched himself through his shares in the Russian telecommunications company Svyazinvest, which has a monopoly in the market.

Having a monopoly seems difficult, but it's a fairly common practice in the private sector. Microsoft and Bill Gates dominated 90% of the operating system market in their early days. Such structures have patents that give them mini-monopolies, and when competition tries to interfere, the authorities step in to protect them.

Tip 3: size is synonymous with wealth.

The bigger a company, the more money it accumulates. One of the most striking examples are the Walmart supermarkets, whose owners, in this case the Walton family, are among the top 10 greatest fortunes in the world. In order for a competitor to enter a market and hold a substantial stake, it has to raise very substantial funds. This explains why only two companies in the world build aircraft, namely Airbus and Boeing.

Tip 4: Protection against risks through third parties

In some areas it is common for the government to take the initiative to take risks associated with doing business. Here we can take the example of American sugar producers in the 1980s who benefited from subsidies of $ 1.5 billion, or $ 200,000 per farmer.

The same goes for the banking sector. Incidentally, two banks, Fannie Mae and Fredie Mac, have reduced their operating reserves to 2.5%, while the other banks limited themselves to 8%. The willingness of government-sponsored banks to take risks has been rewarded with more and more investors who continue to invest.

Tip 5: Everything starts with love - with money

The desire to achieve a financial goal can give wings. Such is the case with John Rockefeller, who held the position of accountant but aspired to be his own boss, and Bill Gates, who fervently longed to make his first million before turning 20 would.

Tip 6: luck in bad luck

Don't you say that the grass on the edge of the precipice is always the greenest? This is borne out by the example of Russia, which attracted business people in the 1990s when it was under communist rule. Suffice it to say that by 2004 Moscow had more billionaires than New York. Through their various connections, these businessmen controlled a number of state-owned companies. An example of this control is the oil company Lukos, which urged its subsidiaries to sell a barrel of oil for $ 1.7 when it was worth $ 15, making $ 800 million in just 36 weeks. In other countries, great riches have been formed in Mexico, India, China, the Philippines, and Egypt.

Tip 7: be inconsiderate

In the business world you have to be ruthless and grab it as soon as an opportunity presents itself. Incidentally, the greatest fortunes have to do with former partners who have been sacrificed. John Rockefeller recommended that his partners opt for physical labor at a time when he was saving enough money to buy the company himself. Another example that goes back to the Roman Empire is that of Marcus Crassus, who had the richest people in Rome executed to get rich.