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You don’t have to wait for the weekend, be worn out from work, and struggle to make ends meet each month for the rest of your life.
Rather, we may make wise decisions now to position ourselves for success in the future. However, that means we have to work harder now, which is precisely why some people are making more money than others.
The time horizon of the majority of individuals is extremely small. You will make better decisions today if you are prepared to search farther. decisions that make your life better.
Two of those options are as follows: These, in my opinion, are the main causes of why some people make more money than others.
- Strive to be the greatest
The difference in income between the top earners and the “average” earners is enormous. Consider the publishing sector as an example.
A fresh author’s first fiction book often receives an advance of $5,000 to $10,000. However, Stephen King’s book deal can bring him over $30 million.
We can examine basketball as well. The number of people who enjoy playing basketball is in the thousands. However, very few people are able to enter the NBA and make millions of dollars.
In any industry, the highest-paid individuals are always the top achievers. That’s clear. Being among the top achievers, however, is not that clear.
According to Seth Godin’s book The Dip, most individuals fail because they frequently give up when things get tough or when they’re in the dip. Success follows the slump, which is the issue.
King composed three whole novels in this manner, but they were never published and were kept buried in his drawer. Carrie eventually came out prior to his best-selling debut.
King probably wouldn’t be the famous man he is now if he had given up after all the rejection he received, which he nearly did, if his wife hadn’t discovered his crumpled first chapters and encouraged him to keep writing.
What it actually means to be the best
I like Godin’s definition of being the finest in the world:
“Best as in: best for them [target consumers], at this moment, according to their knowledge and beliefs.” Additionally, in the sense of their world, which is the one to which they have access.
Suppose you are seeking a graphic designer to assist in the creation of your online business’s branding materials. The “best” graphic designer “in your world” is one whose aesthetic complements your business goals, works with your workflow, and can handle all of your requirements at a cost you can afford.
Being the best for our audience is our aim. Be the greatest for them, whether they are guests if you work in the hospitality sector or listeners if you podcast.
This way of thinking has also been included in my writing. I want to build the greatest personal development blog on the planet. I want everyone who reads my site to say, “This is really helpful.”
That’s why knowing your goal is so crucial. For whom are you performing? For whom are you ideal? Yes, you do it for yourself as well. However, a recipient is always found.
- Make intelligent choices about your opportunities
Everyone has a finite amount of time and energy. We are unable to accept every chance that comes our way.
In theory, that is rather simple to comprehend. but more difficult to put into practice in a world full of chances and diversions.
So much needs to be done. And you ought to say “yes” as much as possible, don’t you? No, because you are easily sidetracked.
Many entrepreneurs make the mistake of concentrating too much time and energy on the wrong things, which frequently results in failure.
According to a study, one of the main causes of startup failure is the development of goods or services that the market does not require.
Consider investing all of your cash, effort, and optimism in something that nobody genuinely needs! However, a lot of startups fail as a result.
Which opportunity offers the most potential reward?
I often ask myself that question. Return on investment is crucial. “Which opportunity can yield the highest potential return?” ask yourself.
Energy is needed for everything. Additionally, energy is needed for both minor and large tasks. Steve Schwarzman, the founder of the huge investment firm Blackstone, taught me this. He discussed Blackstone’s early years in his book What It Takes.
He claimed that requesting $1 million from investors required the same amount of effort as requesting $100 million. All he needed to do was approach other investors. However, the task remained the same.
This idea applies to our careers as well. At another company, you could do the same work and earn twice as much.
Here’s another interpretation. Trading stocks for eight hours a day could result in market returns. Alternatively, you might invest all of your money in a passive index fund and use the remainder of your time to start your own company. You will receive both your business’s income and returns.
Make the most of your time and resources for high-paying possibilities. Focus on the bread lump rather than the crumbs.
Begin now.
The saying goes something like this: Twenty years ago was the greatest time to plant a tree. Today is the next best time.
It’s cliche, but it’s true. A good life is not something that just happens. Only if we continuously strive to create it will it arrive.
It takes time to build a firm that brings in six figures, to find a career you love, and so on. For instance, it took two years of steady work before my blog began to generate revenue.
Everyone wants to work less and make more money. And that’s precisely why it’s challenging to accomplish.
You don’t have to wait for the ideal time, such as when you’re making X dollars or feeling more at ease, to increase your income. You may begin right now. That first step is crucial.
