Dear Entrepreneur, Here Is How To Get Rich Without Getting Lucky

By Getrude Mathayo / Published July 27, 2021 | 4:05 pm




KEY POINTS

In life, we tend to assume that if we work hard and save money then one day, we will be rich. This is wishful thinking.


Being rich

In life, we tend to assume that if we work hard and save money then one day, we will be rich. This is wishful thinking. We are more likely to end up with some modest but useful savings.

If you want to accumulate serious wealth, then there are several approaches you can use, and some are much more effective than others. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.

In the old days, salary earners were the real deal. But the advent of science and technology has brought in even better tools for making money even in sleep. While wealth begins with the mindset, you must be ready to put in extra work and discipline to achieve the best.

Seek wealth, not money or status: Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy. The moment you can tell the difference between wealth and money, you have come across a life-changing opportunity, and you must use it accordingly.

ALSO READ: Here Is The Cost Of Starting A Business In Africa

Understand that ethical wealth creation is possible: If you secretly despise wealth, it will elude you. Pick an industry where you can play long term games with long term people. Learn to sell. Learn to build. If you can do both, you will be unstoppable.

Ignore people playing status games: People gain status by attacking people playing wealth creation games. If you keep organizing training and workshops without getting money in return, you aren’t a lot different from people in the career sector who play status games

You’re not going to get rich renting out your time: You must own equity, a piece of a business, to gain your financial freedom. You must know by now that the creation of wealth is in the actual creation of value.

You will get rich by giving society what it wants but does not yet know how to get: You must know by now that the creation of wealth is in the actual creation of value. Look around you, the world is plagued with several problems. All you must do is upgrade and you will be shocked at how people are attracted to your business

Pick an industry where you can play long term games with long term people: As soon as you can understand the best industry that suits your purpose, all you have left is to unlock the potentials that await you. As soon as you can understand the best industry that suits your purpose, all you have left is to unlock the potentials that await you.

The Internet has massively broadened the possible space of careers: We live in a competitive space and all business ideas are probably exhausted except yours.

Pick business partners with high intelligence, energy, and, above all, integrity: This category of people is mostly a joke. They aren’t open to new ideas and perspectives that would enrich your pockets. Your relationship is your money.

ALSO READ: Dear Entrepreneur, Here Are 12 Marketing Lessons From Steve Jobs

Learn to sell. Learn to build. If you can do both, you will be unstoppable: You will never get rich by working. The harder you work smart, the better your chances of building wealth.







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