You must have seen people who feel like they have traveled a hundred years overnight; Cup friends who have reached the throne in a short period of time and are adding to the number of zeros in their bank account every day! Definitely, your first question to these people and to yourself is ” How?! ». How did a person who had a normal financial situation a while ago now reach this level of income and well-being?
Regardless of the answer you hear, chances are you attribute this dramatic change in the rich person’s economic circumstances to (at best) good luck. Of course, you are right to some extent; Because in our current living environment, there are not few people who get huge wealth without any special effort and only for illusory reasons. The number of these people is so large that little by little we have all come to believe that there is no right way to get rich and to get rich you either need luck or a relationship.
But the truth is that in a standard and fair environment, there are legal ways to get rich! In this article to helpa noteFrom David O, recently published on the Medium website, we review some of these methods. The general point of this article is that getting rich is not always related to luck and can often have more logical reasons (I emphasize, of course, in a healthy environment!).
” Environment ” is one of the factors that has a significant impact on the acquisition of wealth and most people do not pay attention to it . The work environment and the people you interact with will largely determine the type and amount of money you will earn. Some people get rich very quickly because they are in an environment where millions of dollars of money circulate easily. Of course, this is only one factor and other factors are also involved. In the following, you will study four factors that can change your financial outlook and help you achieve wealth.
Be a companion of elders
One of my experienced friends used to say, if you see a young man in his twenties or thirties who is very successful in his business, see who he is friends with. These successful people are usually “companions of elders”. Of course, such people also have regular friends with whom they spend time; But in critical times, they listen to those who are a few steps ahead of them and have more experience.
You may think to yourself, what does the companion of elders mean? And who exactly do we mean by elders?
Wherever you are and in whatever situation you are, there are always people who are a few steps above you. What seems like a dream to you is a normal experience to them, and the last thing you think about is years ago. Hanging out with such people in the most pessimistic state has at least four positive results:
- Breaking their mental taboos
will make the capital that is big and unattainable appear small in your eyes. This is an important factor that should not be underestimated.
- Getting to know the sources and efficient methods
of hanging out with these people will help you to know the sources and methods that made them rich.
- A more comprehensive view of life,
sources and methods aside, there is another valuable thing that you will learn from spending time with rich people, and that is their view of life. The importance of this point is even greater than the previous one; Because it took many years to reach this point of view and a lot of life has been spent for it. That you know how a rich person looks at the world and what opinion he has about life and the universe is a great help in changing the traditional attitude and achieving wealth.
- Developing connections
As a result of this companionship, you can benefit from the connections they have made over the years. Of course, rich people also use the law of “associating with elders” and have friends and acquaintances with a higher status than themselves. In this way, you will see that the type of your communication will gradually change and enter a new level. Otherwise, you have to get all this information on your own and go through the whole process by yourself and by trial and error.
This is why we say that you will rise faster by taking help from other rich people.
Have few trades with big profits
Generally, there are two types of business models for selling and making profit. The first model is to sell a large number of goods or services with a low profit percentage, and the second model is to sell a limited number of goods with a high profit percentage.
It depends on the type of business you are in and the job you are doing. It has always been the case that some markets are more profitable than others. Or in other words, “big money” moves in them. For example, the “housing market” is an example of these markets. One transaction in this market can be as profitable as selling hundreds of service products.
Well, if you are looking to get rich, it is clear that working in these businesses is more beneficial for you; But the role of skill and expertise should not be ignored. After all, everyone has expertise in something, and entering a business in which you don’t have the necessary skills can be detrimental to you. If you are at the beginning of your journey and are planning your future career, you can consider this factor and devote your valuable time to acquiring skills in a job that will bring you more profit.
But all this does not mean that the first model cannot be used to get rich. The only difference between them is that in the first model, you have to sell more goods or make more transactions. Imagine that you earn $1 per sale. In order to make a profit of 1 million dollars, you need to sell 1 million units of your product. So focus on the product or service that many people need and buy frequently.
Choose the smoother path
Ray Dalio(Ray Dalio), a famous American billionaire and investor, has pointed out something that every entrepreneur should think about. He says about his way of becoming a billionaire:
All I did was master a field that, if you were good at it, would (arguably) make you a lot of money.
Among rich people, you rarely come across those who have taken a unique or new approach. Of course, you may be a little confused by this; Because the majority of our idea of having money and success (at least in America) is starting a new business that suddenly makes a lot of noise and turns its owner into a billionaire; But the truth is that in the real world, not all rich people are Jeff Bezos and Bill Gates and Elon Musk. The only way to get rich is not to follow the same path as these people.
Incidentally, on the contrary, there are many rich people who choose the usual and low-risk ways to achieve success. Choosing special and unique methods means accepting a big risk. It is possible that this risk will pay off and these people will become a billionaire in a very short period of time; But there is no guarantee in these methods and they may eventually fail. In spite of this, there are more common and smoother ways to get wealth that can be trusted more easily.
The mistake many people make is that they become skilled at something that is not very profitable in the long run. Despite having similar unsuccessful experiences, these people keep repeating the same mistake for different reasons. One of these reasons is that they think they can handle anything, and in other words, their account is different from everyone else’s.
But if we think logically for a moment, why should we be able to successfully do something that so many people have failed at?
This question is not a denial question. In other words, we don’t mean you can’t do it; Rather, our goal is to really think about the answer. Is there a special ability in you that can make you a pioneer? Or is this feeling only due to the prevailing competitive atmosphere in today’s world, which is mainly created through social networks? If your answer to the first question is positive, then we congratulate you; But if you feel that you have to give a positive answer to the second question, we suggest that you take the decision command from your emotions and give it to your logic.
Do not forget that pioneers pave the way for others; But get-rich-quick millionaires walk a path that has already been paved. Trying to reinvent the wheel takes time, a lot of time.
Therefore, people who get rich very quickly are mastering something that has already made many rich; Not one or two people, but hundreds and thousands of people.
In the last part of this article, we want to go a little further and examine the methods that can give you the title of “billionaire”. To be honest, billionaires go through the same path as the ordinary rich. With the difference that on the way to becoming a billionaire, you have to endure more pressures.
In my opinion, one of the possible ways to become a billionaire is to launch a successful startup with the lowest possible budget. The first step to launching a successful startup is to have an idea that is new and effective in its own way.
The next step is to find an investor. Finding an investor is often the most difficult step for entrepreneurs; But this is where “being in the company of elders” comes to your aid again. If you have rich friends and colleagues, finding an investor among them will be relatively easier.
After going through these steps, you need to promote your startup and make it famous. This step is also very important. If you can’t get the word out about your startup after the first round of funding, you’re likely to have trouble going forward.
Gaining fame attracts more capital. By gaining fame, you no longer need to prove yourself to investors; Rather, the investors themselves will look for you and eagerly follow the growth and development of your startup.
Don’t forget that your business needs to reach a stage where it can manage its expenses. In other words, your startup should not depend on any person or external agent and should continue to work independently. This is the stage where this startup is said to have reached ” scalability “.
Of course, this does not mean that you no longer need the capital of investors. After all, you need more capital to expand your business; But the problem is that this capital is provided by itself and you don’t need to look for an investor to provide it. All this is because investors have seen the success of your startup and are confident in its future.
If you don’t time your IPO right, you might fail, and if you time it right, you’ll most likely be one of the future billionaires. Therefore, whenever you feel that your startup has achieved the necessary success, you can offer its shares in markets such as the stock market to attract more capital for you.
Perhaps, after reading this article, the only thing that came to your mind is “what a pleasure”. We know that it is easy to say these things; But implementing them on a practical level, no. In addition, running a business in the current environment of our country, which is dealing with problems such as foreign sanctions, internal rents and unstable economic policies, doubles the difficulty of the work. However, despair is not the solution to the problem.
All the methods mentioned, in a standard situation, can make you a rich person or at least it can give you a more open view to think about things that you didn’t think about before. Of course, it should be noted that not all methods of acquiring wealth are summarized in these four cases, and there are certainly other ways that were not mentioned in this article.
However, if we want to briefly review the main points of this article to get rich, we will come to these things:
- Get help from other wealthy people and develop relationships with them
- Improving the working and living environment
- Going through fixed and safe routes
- Gaining skills in profitable businesses
- Trying to turn initial ideas into startups
What plan do you have to increase your income and success in your career path?
Good luck in your business!