How to Get Rich: Build Wealth Without Luck
I’ve shared this before, but this time it includes an (partial) English version and additional insights.
1.
There’s no such thing as a get-rich-quick scheme in this world. If you’re searching for one, you’ll only end up helping someone else grow rich off you.
The internet has dramatically expanded the possibilities for a person’s career. Most people have no idea how massive this shift really is.
2.
You become wealthy by providing what society wants but doesn’t yet know how to get. One catch: you must deliver it at scale.
Play the compound interest game. Whether it’s wealth, relationships, or knowledge, every return you earn in life comes from compounding.
Wealth growth requires leverage. There are three sources of business leverage: 1. capital; 2. people; 3. products with near-zero marginal cost of replication (e.g., code and media).
3.
Distinctive knowledge can’t be taught through formal schooling—it can only be passed down through apprenticeship.
4.
Set an ambitious personal hourly rate for yourself and stick to it. If solving a problem saves less than your hourly rate, ignore it. If outsourcing a task costs less than your hourly rate, outsource it.
5. How important is your network?
The truth is, if you create something interesting, people will always find you and want to connect. Building a business network before you’ve actually built anything is a waste of time.
Finally, reading is faster than listening, and doing is faster than watching.