When I was a young boy, I usually wondered why my parents were poor. Though I knew most other people were poor too, since I saw a few people who seemed to be rich, I wondered why everyone wasn’t just rich (or at least, my parents).
At about 17, I started my financial education. Nobody was as curious as I was. I simply wanted to read every book on the planet, so that I could figure out why some people are successful and others aren’t.
It was a rewarding exercise as I started discovering what most people didn’t know about life, success, and money. A few years later, I was in the business world and I kept on studying, even to this day. I write this blog post to enlighten you on the number one thing every rich person knows, but most of them will never say on TV.
Now let’s get into it. What is that single thing, or the most important thing every rich person knows about money? Well, the answer is very simple; leverage. Leverage. LEVERAGE is the number one secret the rich know about creating wealth and I’ll explain this. Keep reading!
You see, after studying the lives of hundreds of rich people from different generations, something became so obvious to me and that’s, you can never become rich working with your two hands, or at least, nobody has ever done it. In other words, you can’t be rich working 12 hours a day. To be rich, you must figure out how to work a thousand hours or more every day and, as you can see, that’s impossible.
So, what’s the way out? How can you work for 1,000, 5,000, or even 10,000 hours in a single day? To solve this puzzle, what the rich do is very simple; buy other people’s time. It’s that simple. Buy other people’s time. So, how the Math works is this; if I can figure out how to get 50 people to work for me and they all work 40 hours per week, I’m technically working 2,000 hours every week. I can improve my game by figuring out how to make some technologies work for me. Believe me; this is super easy these days. The website, some software, and plug-ins can do what 10s of humans should. This way, I get thousands of extra hours every week. I can keep on increasing the numbers of people and the technologies and the more I do so, the richer I’ll become.
Isn’t it so obvious that the man who works 10,000 per week will be extremely richer than the man who works 60 hours?
So, let’s get to another question. If the Math is that simple, why do rich people keep the secret to themselves? I have the answer and this is it; the rich never talk about leverage and how it makes them rich because the poor is their leverage. You heard me right. The poor are the leverage for the rich. This may be harsh, but it’s the truth. No millionaire will go on TV and say, “You see, the reason why I got rich is that I figured out how to make people work for me”. The reason no millionaire will say that is that he/she knows that the more such knowledge gets out, the less satisfied the poor will have with their jobs and that won’t go well with the rich’s empire.
Now, to another question, is it a bad thing for the rich to use the poor as leverage? I don’t think so. I think the world can only work if some people create the system while others work the system. We can’t all be drivers in a car. Some people have to sit back while someone drives or else they cause significant damage to themselves. You may not trust my opinion on this because I’m an entrepreneur and my view on things like this will always differ from the way most employees would see it.
For most employees, capitalism is evil. For most employees, their employer is bad because he’s extremely wealthy while they are broke. Well, I wouldn’t want you to see it that way. Instead of getting angry that the football field has left and right sides, why don’t you move to the right side of the field? Instead of complaining that some are slaves while few are kings, why don’t you make the necessary moves to join the kings and be one like them? Many people would say, “But it’s not easy to be an entrepreneur”.
Yes, you’re very correct and that’s why people who made all the sacrifices to be entrepreneurs shouldn’t be called evil for having too much money. If you think it’s difficult to go to war, you then shouldn’t criticize a general because he’s famous after his military exploits.
Now that you know that the number one thing that makes the rich is their ability to use leverage, how can you do the same?
First, don’t hate the rich. This is very important because you can never become what you hate. Money isn’t evil and having it doesn’t make you evil. Instead of hating capitalism, love it because it’s the reason the world is progressing rapidly with innovations and development.
Second, focus on solving some of the world’s problems, not on complaining about them. There are two kinds of people in the world; those who complain about everything and those who create solutions for what others are complaining about. Be among the latter.
Third, develop your human relationship skills. This is very important because you can’t go far without people. You need people to be rich and the best way to get them to help you is to know how to relate to and deal with them.
Fourth, don’t be a perfectionist. Have you ever heard this before; “if you want it done well, do it by yourself”? That’s how perfectionists think. Well, if you want a lot to be done, get more hands to do it. You can never be rich doing things all by yourself. You must know how to get other people involved, build a team around a common objective, and motivate your team to get the required results. You must also seek knowledge and advice about different technologies. You see, I’m just an average guy who cannot even design a simple website. But I have people around me who literarily sleep inside the technology, so I always reach out to ask questions. If you know how many great things some simple software can do, you’ll fall in love with technology.
Fifth, pull yourself out. You can complain about anything and everything and it won’t matter. I tell you, anything you do outside of taking action is a waste of time. Stop talking. Get yourself out. Many people are waiting for a perfect condition. I laugh because it will never come. Today is the best day you can start pursuing your financial goals.
Let me round up this post by telling you what most people hate to hear; if you can’t make the sacrifice to be a warrior, you should never criticize the warrior for misusing his power. If you can’t make the sacrifice to build your own company, why would you complain that someone is using you or paying you lesser than you deserve?
That should sink!