How to get RICH
ZACH DE GREGORIO, CPA
www.WolvesAndFinance.com
How do you get RICH? This is a question humans have been asking themselves for thousands of years. Why do some people become wealthy and others do not? To be honest, I do not pretend to have the answer. Nobody does. But I do think that if you are a business person or you are an accountant, it is important to sit and ponder this question. Really think about it. Because we are in the role in society that is responsible for generating value. And so if you think about this question, you can come up with some really powerful insights, even if you do not come up with the ultimate answer.
So before we get started, let me make a clarification here. When I say “get rich,” I am not talking about happiness. I am not talking about fulfillment. I am talking about MONEY. If you are watching my channel, you want to know about money. If you want to know about that other stuff, you are going to have to go watch somebody else. So we are focusing specifically on the question, “how do you make a lot of money?”
So like I said, people have been studying this question for thousands of years. And so we have a lot of information to start with. So if you read the academic journals, read all the business books, take all the business classes, what you will find is that there are several recurring themes in business. And I am going to talk about four main ways to be successful. You can follow these pathways in life to lead to a lot of money.
The four ways to success are Talent, Hard Work, Attitude, and Opportunity. We can use these ideas and come up with a simple equation. Talent + Hard Work + Attitude = Money. Wouldn’t it be nice, if there was a simple equation like this, that everyone could follow to make a lot of money. But there is a problem here. In life, we know, that this equation does not work all the time. We all know people who are talented, who work hard, and have a positive attitude. They have all of that, and they still have no money. The opposite is also true, we know there are people out there who are not talented, have not worked hard, and have a horrible attitude and yet they have a ton of money. So how does that fit into this equation.
I suggest there is a fourth way to success that is not talked about as much. The fourth way to success is Opportunity. This is a little bit more complex idea, which is why I think people do not talk about it as much. When you read the biographies of successful people, they can point to several specific moments in their lives when they took advantage of an opportunity. They saw an opportunity and they took advantage of it. And you do not need many of these opportunities to make a lot of money.
So here is the full equation: talent + hard work + attitude + opportunity = money. And in my opinion, you need all of these things. What makes opportunity complex is that sometimes it works against the other variables. If opportunity is really important, what does that mean? It means you should be spending time every day looking for opportunities. This is time when you are doing nothing but looking around you and listening. You are not working. You are not thinking about your talents or your attitude. You are just listening. That is what it takes to spot opportunities. But it goes even further. You have to create space in your life for opportunities to happen. If you are working at your job for 60 hours a week, you do not have time to go after any opportunities. So the problem is people are so busy. There are opportunities all around them and people do not even see that they are there. And if they did see the opportunity, they would not have the capacity to go after them.
Ultimately it becomes a balancing act between all these variables and that is how you get rich. Those are my thoughts, but the reality is, this is a question that can never be answered. Life is just too complex to really capture in a simple equation like this. In the big picture, the reason why these things lead to riches is because they are all hard to do. People do not want to do them. So if you put in the effort it will set you apart from everyone else. And these things are good for society. It creates value for society when you work hard. So if you do this for decades, society will reward you with money.
Neither Zach De Gregorio or Wolves and Finance Inc. shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.