My honest advice to someone who wants to make a lot of money.
3 things nobody told you:
1. The only way to make a lot of money is to create a lot of value.
No one hands out money. No one is going to pay you just because they like you or think you're cool. That's not the way the world works.
Money earned is a direct byproduct of value created. Create value, receive value. If money is the goal, value has to be the focus.
This isn't just some vague idea: The only way to get rich is to create an enormous amount of value for others, and capture a small portion of that along the way.
It's not talking about the thing, it's not brainstorming about the thing, it's not asking about the thing, it's not thinking about the thing. The only way to create value is by doing the thing.
And if you don't know where to start, look around you. Customers, colleagues, bosses, shareholders, employees. Every single one of them has a problem. What problems can you solve for the people around you? Figure them out, solve them, scale that solution.
That's how you make money.
2. You have to demonstrate excellence in everything you do.
Your income scales proportional to the amount of excellence that you're able to demonstrate.
Strategic incompetence is a lie. You don't get to pick and choose when to show up, because the world will ignore your best and judge you for your worst. Everything matters. Every single thing.
Top performers show up with energy and enthusiasm for the little things just as much as they do for the big things.
If you're in the top-10% of performers, there's no ceiling for what you can do. But the self-awareness to identify where you currently stack up, and adapt to the honest feedback on it, is very rare.
If you're in the top-10%, you know it. If you're not, figure out why and fix it.
3. You don't need passion, you need energy.
I still have no idea what it means to follow your passion.
You don't have to be passionate about your professional pursuits, you just need to find energy in them. You just need to feel a pull towards them. You just need to feel that spark of curiosity in them.
Passion is usually a byproduct of energy.
When you have energy for something, you'll give it your deep attention to learn more. You’ll ask the right questions. You’ll figure it out. You’ll win.
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And remember: Nobody is coming to save you. It’s just you. There’s a power in that.
Go do the thing.
This sentence by Van Gogh hits hard:
“If I am worth anything later, I am worth something now. For wheat is wheat, even if people think it is a grass in the beginning.”
“Our goal is to take power into our own hands. In time, Abia will be disconnected from the national grid and enjoy 24-hour electricity supply” — Governor Alex Otti
“I lost $1.2 billion in 2008 because I lacked structure
I blamed the banks because they kept throwing money at me instead of advising me.
The banks sold $800M of the debt to AMCON and I was left with $400M.
I sold 184 houses and all my bank shares.”
— Femi Otedola
if you have:
1. little to no expenses
2. parents who support you
3. no one that depends on you yet
then my friend, you should be taking insane amount of risks