If you’re going to be a business owner, you have to make it into the top 1%. At least the top 1% of asset holders in your country, if not the world. Making it into the top 1% is really tricky, but in today’s world, that’s really the only way to secure a future for yourself and your family. Today’s world is incredibly competitive, governments are in massive debt, and industries are being created and destroyed seemingly overnight. People all want to get rich, so they’re also all starting businesses. Your competition is stiff, and the environment is incredibly unstable. So, what to do? Well, you have absolutely no choice but to try and make it into the top 1% of asset holders in your country. This is going to likely take an incredible amount of work, but it’s worth it. It’s also pretty much the only way to guarantee success. Here’s why.
It takes a lot to run a functional business
A functional business is a business that can earn the average income in your country. Most of the time, it’s going to be fairly difficult figuring something out like this. You need to be ahead of the game, assume more responsibility than most are willing to, and work harder than most. Creating pretty much anything is going to feel like an uphill battle, and people who haven’t done anything won’t believe in you. The day you decide to run your own business is the day that you decide to suffer. Make sure that you make a wise decision when it comes to your professional career, and make sure you do your best. There’s no point in half-assing it.
A barely functional business = no savings
If you don’t have any savings, you’re going to be dealing with a lot of stress and headaches. It’s pretty tricky to set up a business that pays your wages. You need to treat your work like a full-time job, for sure. This is what it takes to basically keep the lights on in high cost of living areas. This is the benefit to living in high cost of living areas. They will force you to grind, because not grinding will cause you to feel your life slipping away. If you want a shot at being somebody, be poor in a wealthy area, work hard, and avoid addiction. Before you know it, you’ll have enough to at least do location arbitrage.
You’re too sensitive to market shocks
This is the brutal reality of running a small business. You’re at the mercies of the market. Small farmers are vulnerable to the weather. Small bloggers are vulnerable to Google. In order to do most things well, you need to grow to a certain size. This means that you have no choice but to choose a field where you can scale and do the required work at the speeds necessary to get things done. If not, you’re a sitting duck in the water. Completely vulnerable. I’m technically in this position due to the small size of my blog. I don’t recommend putting yourself in this position.
Realize that being an entrepreneur is a comittment
And it’s one that will likely last a lifetime. You’re making an attempt at shaping the economy of where you live. You have to be committed to working at your craft and making the changes necessary to survive and thrive. If you’re not willing to do whatever it takes to win, you’re absolutely screwed. Being an entrepreneur is a very intense comittment, so be careful what you sign up for.
Your first business (to stick) is the hardest
I haven’t made my first business stick yet. Making your first business stick involves doing what’s necessary to put yourself in the top 1% of asset holders in your country at least. This probably will involve about 5-20 years of work. It’s important to get started at a young age if you want to become truly wealthy. If you don’t, you’re playing permanent catch-up. But thankfully, once you’ve figured out your first business, you’re good to make your second, and 3rd, and 4th. Things will appear more and more simple as you grow your first business.
Skate to where the puck is going
If you skate to where the puck is going, it’s probably going to be reasonably tough for you to make money in the short term. But as time goes on, things change, and they tend to change in your favor. Maintaining a diversified blogging portfolio has never been easier and more lucrative. Growing a blog to a large size has never been easier. It’s going to get easier and easier to create digital assets. You can already build AI apps in python. Who knows what the future will hold. Find a field and skate to where the puck is going.
It gets easier
The standard of living in your country is likely to only get higher as time goes on. This applies pretty much wherever you are. Try to quantify the economic value of what you’re doing. If you can move at the proper speed and “keep up”, you’re going to find that it feels easier than you thought to get the things you want. When I first moved back home to my country, things looked pretty hopeless. There weren’t a lot of ways to make money. Life has improved drastically since then. Things are definitely getting easier for those who put in the work.
Don’t be afraid to move
Moving is one of the best ways to leverage your skills and abilities. Moving isn’t dictated by any given parameter, but if you move based on specific parameters and do the proper research, you’ll find your life improving. It takes about five years to completely change your life. If you move cities or countries with intention, you make that five-year change feel even more intense.
If you’re a business owner, aspire to be at the top. Work your butt off and do what’s required to win and be in the top 1%. Don’t spend lots of money, pray to God, stay positive, and keep healthy. There’s no point to this if you aren’t performing at an optimal level. Being an entrepreneur has massive rewards, but the point of being an entrepreneur is to contribute to society. This takes a lot of forethought, planning, and effort, especially if you’re young and trying to make it in a poor country. Try your best to be at the top, so that you can enjoy the fruits of your labor properly.
Thanks for paying attention.
