Jeff Bezos, the founder of Amazon, has a net worth of 166.3 billion USD and then There’s you. You’re probably working a job right now, one that you got from the degree that you studied for in a university. You probably don’t have much in savings your living expenses seem Ridiculously high you feel as though. You’re not paid enough. You have credit card debt that needs taking care of maybe your student Studying for a degree. That you how can and your job that you hope can bring some good money. You probably don’t have any savings only a pesky student debt hanging above your head wealth-getting rich That all seems like a distant dream.
How did they do it you ask yourself seeing all those millionaires billionaires? Especially the ones who got there at such a young age. It baffles you it makes you angry they got lucky they were born into well. They cheated their way to that money doesn’t make them honey as evil, and you’re not smart. I’m just unlucky those dreams you had of buying that mansion your favourite sports car paying off your mortgage travelling. They’ll forever remain that way only dreams Nothing more Nothing less. You come to the harsh realization. It’s a rigged game It’s been a rigged game from the start in you You’re on the losing side of it.
What is the problem?
But what if I told you you were wrong What if there was a way of getting there an actual equation to wealth a science behind the way money works. What if you didn’t have to abandon those dreams of paying off your parent’s mortgage or travelling around the world?
Would you call me a liar for saying, so I promise that I’m not and by the end of this article? You’ll understand there’s a side to the coin that you’re not being shown, but I warn you the road is tough. It’s filled with struggle and filled with ups and downs. It will need swallowing some steep roofs of the school system and society. Haven’t told you yet and let me be clear many of you will not make it to the end of this road. But for those of you that do at the end of this road lies wealth beyond what you thought you could attain at the end Of that road lies the freedom of never having to worry about money again so Are you with me?
Let’s not waste any more time. What do you think about money is this something you work for is it earned, or is it inherited? Is it the root cause of all evil? Are you desperate to have more of it? Have you been chasing it? Most of your life truly is your upbringing and environment have influenced most of what you think about money.
If you were born into a family that didn’t have much money growing up, you’re more inclined to believe that. YouTube will not Grow up to have much money, or perhaps you went on the complete opposite end and decided to make as much money as you can so that you will never be. In that position again the fact that your school didn’t teach you much about this subject. Doesn’t help things and because of this most of you are going to have false beliefs about money that aren’t going to help you on. This journey now sticks with me here because we’re going to have to change the way you’ve seen money your whole life.
Hollywood has always had a habit of depicting the wealthy and affluent as evil backstabbing entitled or corrupt individuals.
Question is have you bought into that stereotype a, Recent report released by Wealth X showed that of the world’s ultra-wealthy those that had a net worth of 30 million or more 68 per cent of them were self-made. It seems like every other study backs up this conclusion.
Warren Buffett self-made billionaire Howard Schultz born in poverty Oprah Winfrey born in poverty Jeff Bezos self-made billionaire Elon Musk self-made billionaire Sara Blakely the self-made billionaire.
What is it that these people know that you’d on. Truth is your equation is all wrong, here’s the 2-dimensional equation that you’ve been taught money equals salary earned from a job past a certain point the prospect of getting a job, Becomes the sole purpose of your education. So what’s wrong with that you ask? I’m going to assume that if you’re reading this, you want to make money a lot of it and in a short amount of time as possible if that is your goal.
Then this equation for generating money will never get you there. We all have a precious resource the essential resource for Hall And once it’s gone. There’s no way of getting it back that resource is time in a regular job the amount of money you burn is Dependent on the amount of time you put into that job. If you earned $20 an hour and worked 40 hours a week, It would take you nearly 24 years to reach a total of 1 million dollars. But that is without subtracting any taxes or any expenses that you will incur over 24 years and let’s not forget that. Inflation would make your 1 million dollars less valuable the reality. Is that on a salary of $20 an hour? You can only really be a millionaire at an old age by living frugally and most of that precious resource known as time has slipped through your fingers. You traded all that time for money, and it wasn’t even a substantial amount either.
So again, you ask yourself.
How is it then that there are self-made millionaires and billionaires that such young ages, what makes them so different and the truth is, They have a better equation than you. They have a way of understanding money that you haven’t quite grasped the earth.
Pay very close attention now stop chasing money in a capitalist society. The rules of the game are as follows. You are paid in proportion to the perceived value that you have and the people that see your value they are the market the. Consumers of the economy the market is you your friends, your family, your neighbours Your country.
People complain that football players are overpaid, but for players to be paid millions. There has to be a market for the football industry in the first place. People have to see the value in football in the first place for them to want to spend money on matches and merchandise and if the market is a high demand for football. Guess what happens to the players who are at the top of their game? They are paid generously for it. It’s not about how hard you work the Cleaner that sweating and tiring himself out every day is paid far less than the accountant sitting behind a desk. Why?
Because the market perceives the value of what the Cleaner does to be far less than the accountant as harsh as it may sound, the Cleaner can be replaced by anybody. It isn’t challenging to learn how to do his job. And therefore the market will not pay him more than the accountant the guy who spent years studying numbers The guy who has saved his client’s thousands on their taxes.
But even so, we just discussed how getting a job is in the right equation to amassing a significant amount of wealth in a shorter period. So then how can we increase or perceived value? What is it about people like Elon Musk or Jeff Bezos? That makes their perceived value so high the first step to this equation of wealth is quite simple if you want money.
Solve problems. If you take a second to digest this statement, you realize that just about all cash runs from this basic premise. Then if it solves, a problem Money will be thrown at it and If it’s a million-dollar problem, then the solution will make you Millions If it’s a billion-dollar problem. Then the answer will make you billions.
Think about all the problems with our site. Amazon solves the hassle of going to a store that hassles of having to wait weeks for a delivery lower prices and so on not to. Mention all the other companies that Amazon bones and the problems that those companies solve.
Jeff Bezos helped solve a billion-dollar problem and also awarded favourably for doing so. If you’ve been chasing money, then you’ve been doing it all wrong. It sounds almost paradoxical. Still, if you want money, It isn’t money that you should be looking for problems and more importantly solutions to those problems. And once you found that solution does business around it.
Wait, so that’s it. Just solve problems and money will appear. So I’m going to have to create the next Amazon for me to be costly or the next Facebook Or Google you’ve got to be kidding me, right? I don’t even know how to code and I don’t also have the money to start something of that scale. I don’t even hold on your wants more going into old patterns of thinking start with a problem always starts with a question. Listen to the market around you.
What are people saying they don’t like? What are people saying they wish existed, What are people saying frustrates them?and What do people think is incredibly inconvenient?
Is that a problem that you can solve and also is a problem that is worth solving.
The final step of this equation to wealth is finding a scalable solution to the problem. Your answer needs to affect the Magnitude of people. Starring a restaurant, that’s not scalable You’re constrained to the local area and the footfall of that area but a franchise now, that’s more scalable. Is your solution a piece of software then that means once that software has been built, you can scale it. Infinitely online without needing to worry about things like production or shipping costs as it’s all done virtually. Good luck finding infinite scale with a job, but be careful does your solution require your time to generate money. Let’s say you were a yoga teacher that charged $100 per hour.
Congratulations, you only made yourself another job disguised as a business. There’s only a certain amount of lessons that you can feasibly do in one day. And therefore your income is time-bound, but if you created an online yoga class that ran 24/7 with experiences, you only had to develop once now that is scaleable.
Scaling your solution is critical here. So do not get lost on this point automation also plays an important role, systems and processes will keep your business running like a smooth machine if appropriately implemented.
If there is something in your business, that you can outsource to somebody else or hire an employee to do it for you.
Assuming it financially makes sense for you to do. So then do it tasking yourself with everything is a bad thing as much as you may think you’re the best. There’s someone out there that can do a better job than you,
once you’ve found a solution.
It’s your job to make sure that everyone in your market can access solution. It’s not about your ego, and it’s not about what you’re passionate. The market doesn’t care about your passions. So now that you have your profitable business running with the right systems and processes in place. It’s time to move on and reap what you sow.
There are two likely paths you’re going to face at this point, you either Continue your business or cash in and seller. This is the acquisition. The moment someone buys the solution. That you spent years building a business around, this is Instagram being acquired by Facebook for 1 billion.
This is PayPal being sold to eBay for 1.5 billion of which 165 million went straight to Elon Musk’s pocket. And the countless other liquidation events that happen across the world. This is where all the effort that you spend into the building. Your company comes to fruition. And if you choose to continue running your business. Well, there’s a multitude of reasons for you wanting to do So. maybe you love the company that you built will want to stick with your baby. Perhaps you think you can add more value to the company and sell it down the line for more than it’s currently worth. Maybe that business runs passively in the background, so you don’t have to do much to keep the wheels turning Or perhaps it’s a combination of these three things.
Either way, you did it. You solved a problem that the market wanted answering and it was awarded you favourably for doing so, and so now I ask you what? Was it all for anyway?
For most of you, it was never about the money. Money is just a piece of paper a number on a screen. Its value is only backed up by our belief in its value. From the very start, this was never about the money. Paying off the mortgage buying your dream car, travelling around the world never having to worry about your financial situation It’s the freedom that you were looking. Your destination wasn’t anything monetary related. It was a feeling a sensation.
The ability to do what you want whenever you wanted without ever having to cast the thought towards can I afford this have I used? Up all my holidays for the year. How am I going to pay the rent? Will I be able to live off my pension? What dreams will I have to sacrifice? Because I can’t afford to pursue them, the most important lesson from this video was never about the nature of money.
It was about the one valuable resource that we all have the one resource We will never be able to reclaim, time. Is giving up a large chunk of your time towards a job that you probably don’t like worth it Is your life settled on working coming home watching the telly? Sleeping waking up the next day and repeating the same cycle until you retire,
How many more hours of your life do you let slip through because of this pattern? Or perhaps you’re okay with that reality, Perhaps you have no other choice but to follow that path for the time being, and if that’s the case. There’s Nothing to worry about the most you got from this article was a little entertainment and maybe a change in perspective. Still, there are those of you that understand the other side those of you that have the desire Never to need to worry about money ever again.
And so I feel the need to remind you of Stop chasing money. Chase problems and find a solution to those problems. This is the equation through which all capital is located. If you desire Liberty through never needing to worry about money ever again, then let’s solving problems be the meaningful struggle in your life. Does it mean you’ll be happy at the end of the road doesn’t mean you’ll feel fulfilled only you can answer that question? But if your struggle is meaningful then perhaps it’s worth pursuing, And there is your equation to wealth Of course.
I missed out on a lot of intricacies in this article the topics of business money Entrepreneurship are far too vast for me to cover in a single item like this. Still, if you do want to get started on this journey, I do recommend you read the works of MJ DeMarco who heavily inspired me to create this article. It’s also essential to come back To an original point that. I made at the start of this, which is that most people will not succeed for various reasons. Still, the most critical part is failing. Failing fast and moving on to the next thing and if you’re out there doing something that isn’t strictly related to business. But you want it to make money then asking yourself the question of what problems am I solving? Could lead you to find ways of better. Monetizing whatever it is that you’re doing and that also includes a job and a career if you can solve more problems and see more. Solutions at your place of employment you have something that you can use to leverage a higher salary.
But I will end this all on the same message that I have repeated numerous times in this article. Stop chasing money and start tracking solutions to problems.