Stop dreaming of becoming rich. Have a purse filled with $2 lottery tickets, and be glued to the TV watching the results of the tattslotto.
There are 180,000 chances to win the first prize in the NSW $5 Jackpot Lottery, while chances of winning seven OZ Lotto numbers are 45,379 and620.
However, there are some quick ways to become an entrepreneur millionaire. They’re not as instant as a lottery win and some of them take a bit of elbow grease, but the rewards are worth it.
It is the easiest way to increase wealth.
Allegra Versace, along with Donatella, works in the fashion industry. But, on her 18th Birthday, she received an inheritance worth $700m. Lucky girl.
If it makes you feel any better, inheritance doesn’t always have a happy ending for the heirs. Paris Hilton lost a lot of her inheritance after her grandfather Barron Hilton donated 97% of his fortune (US$2.7bn).
2. Become an entrepreneur
Mark Harbottle is worth $40 million. How did the 38-year-old end up on the BRW Young Rich List. He founded several internet companies, including SitePoint and 99designs.
Kelly Baker-Jamieson, multimillionaire, told YMM that her idea to create bouquets from fruit has spawned four stores in the United States. “I was expecting to spend the first week sending out freebies to media and corporates, but we made about $1,000 in sales,” says Baker-Jamieson.
Clive Palmer’s name has been receiving plenty of airplay lately, but did you know his wealth was born out of the Gold Coast property market during the mid-1970s? Palmer was 29 years of age when he became a millionaire selling properties in the area during a boom time in the local economy.
It pays to have a strategy when it comes property investment. Nathan Birch (26), told YMM that he only invests in cash-flow-positive properties across NSW and Queensland. “My properties are bringing in well over an average salary in positive cash flow, so I was able to quit work before my 30th birthday,” says Birch.
Operating a business where you don’t need to develop your own marketing or product strategy can be an attractive route to becoming wealthy.
Greg Leslie is a successful franchisee who owns a Battery World franchise located in Townsville. This franchise generates an annual turnover amount of $2.8m. His personal wealth stands at $3m. “We’re not exactly from wealthy backgrounds – we did it all ourselves,” says Leslie.
5. Be a best-seller
E-books have made books a living thing. Write a great story, and your wealth will skyrocket. JK Rowling has been a billionaire thanks to Harry Potter.
Elizabeth Gilbert, an American author, has a net worth in excess of $25 million thanks to the instant success of Eat Pray Love and autobiography book.