Welcome back! Today we are gonna be informing about “IMPORTANT 9 WAYS TO GET RICH” without getting lucky. So here are the ways to inculcate and adopt to get rich.
Seek wealth, not money or status
It seems that everybody wants to be famous or get-rich-quick nowadays. I have bad news for you, anyone who believes they can get rich or famous overnight is in for a rough surprise.
The reality is, if you are serious about getting rich? you have to chase wealth, you have to own part of a business or set of assets, that can earn money, while you sleep. That’s it, that’s the only sustainable path to long-term wealth.
Be an entrepreneur, not a laborer
You will not get rich renting out your time in exchange for money when your outputs are directly tied to your inputs, you are easily replaceable.
Thus you will never be adequately compensated by society, in contrast, once you become an entrepreneur, and assume that risk your upside is virtually unlimited, the answer to becoming an entrepreneur is at its root straightforward.
You have to give society, what it doesn’t know how to get? if you can do this at scale, Society will reward you handsomely.
Arm yourself with specific knowledge
If you want to become an entrepreneur and provide value to others you need to have specific knowledge by nature specific knowledge is highly creative or highly technical. it cannot easily be taught and thus it cannot easily be replaced or coded away.
It can come in many different shapes and sizes and is often in the form of building or selling something. A great place to start is to ask yourself, what am I obsessed with? doing that can’t be learned in a classroom! once you find it, invest yourself and do everything in your power to foster and develop that skill.
When it comes to amassing wealth? leverage is the name of the game. Thirty years ago to use leverage, you need to have hundreds of people working for you, or billions of dollars of capital. Today with the rise of the internet, that has all changed. There has never been a time in history, where, it was so easy to pursue your passion, and find an audience for your work.
I repeat we are living in an unprecedented time. Today without anyone’s permission, you can create any piece of content or software. And you can distribute it for free across the world, to as many people as you want that’s incredible and that’s how all the new fortunes will be made. If you want to be rich pick a business model with leverage rule.
The problem, the Internet has created is now, it’s so easy to enter the market. Anyone can do it. As a result, hammers a lot harder if you want to escape competition. You have to be authentic and accountable. No one is better at being you than you are.
The reason icons like Jeff Bezos and Elon Musk amassed a cult-like following is because they never wavered from who they were and they always stayed accountable for their work.
If you remain authentic and accountable? you can keep redefining, what you do until you are the best in the world at what you do.
Work with the right people
This is a long-term game and as a result. You need long-term people by your side for a to evolve there are four characteristics that he does not compromise on any.
Business partner have to be intelligent, energetic, trustworthy, and a rational. Optimist misery loves company and you surround yourself with pessimists their beliefs will become self with them.
Work hard and don’t be afraid of it
Thomas Edison famously said, “I have not failed I have just found 10,000 ways that won’t work.” although what you were gone, and who you work with is crucial. without hard work you will never succeed.
If you want to be rich? you have to be constantly iterating, and experiencing small failures because that’s the only way you will learn. If you want to be rich you have to work hard and you can’t be afraid of it.
Reject most advice
There is a reason the majority of people are unhappy unfulfilled and poor. If you follow everyone’s advice, you will end up in the exact same spot. If you want to be rich, you’d have to reject most advice when your friends are pressuring you to waste money on useless things. Or your parents are telling you to take that safe nine-to-five jobs you have to be able to hold your head up high and say no.
In fact, a great exercise to improve your decision-making is to give yourself an aspirational hourly wage. If it sounds reasonable, double. If you value your time and $500 an hour and any advice that says otherwise should be immediately disregarded.
Trust the process
If you are patient, work hard, and work on the right things with the right people. You will achieve the freedom you’ve always desired. eventually, you will get what you deserve.
Thank you so much for reading. I hope you found the topic “IMPORTANT 9 WAYS TO GET RICH” as useful as insightful.