Is There Such a Thing as Getting Rich Quick?
Color Commentary for Tuesday, January 16, 2007
By Alexander Tretjakov
"Man was born to be rich, or grow rich by use of his faculties, by the union of thought with nature. Property is an intellectual production. The game requires coolness, right reasoning, promptness, and patience in the players."
~ Ralph Waldo Emerson
TQ Note: We found this article to be on-point for understanding the notion of "getting rich". It emphasizes the importance of working hard... working smart... and achieving greater results.
Knowing how to get rich is easy; knowing why you don't just get up and do it is the hard part.
Advice on how to get rich is everywhere.
So how do we separate what is real from what isn't? Is there such thing as getting rich quick?
The truth is probably that there is. Like everything in life, it is only available to the lucky few.
People who have brilliant ideas, at the right time, that have the right attitude and do what ever needs to be done to succeed. Even, when these kinds of right circumstances do exist, the path of getting rich can be full of hard work and sacrifice.
Here is the recipe on how to get rich:
Sounds over simplistic? It is. Knowing how to get rich is easy, it is doing everything you need to do to get rich that's hard. There is a chapter in Donald Trumps book "How to Get Rich" where we follow Trump with his 24/7 schedule for one week.
You think you work hard to earn a living? Try being "on" all the time like most business people are.
Let's look at some of the areas where people make a lot of money.
Business world is a first place we are going to look at. You can definitely make your self rich by developing a successful business.
Relatively speaking that method can be very quick. Ultimately whatever way of getting rich you would choose, be it real estate investing or online trading or marketing, it will boil down to developing a business.
All successful businesses have systems that they follow to make money, and those systems are the key behind their success.
There is two ways of developing a business system. One you can do it your self. This way is long and painful most of the time and is the reason why 3 out of 4 businesses fail in the first 3 years of operation.
Two you can buy a system from someone who "cracked the code" for you. In other words get someone who is already successful to teach you what they know.
This way is faster and increases you chances of success dramatically. To put it simply, you will not be able to succeed unless you educate your self.
Investing is another way of making a lot of money. Just like in business, in the area of investing most people loose money. The reason most investing is so risky is as simple as lack of knowledge and sophistication on the part of the investor.
There is definitely a way to make it big in investing. However, success, just like in business, depends on the systems you employ in your investment strategy.
And here again you can either develop the systems your self, or find someone who is already successful and get them to teach you what they know.
The difference between investing and business is that you can't build a successful investment strategy with sweat equity like in business. You can loose a lot of money in learning how to invest, so I suggest the "leaning from someone who knows what they are doing" route.
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Winning a lottery works for some, but let's face it, what's a bigger chance - you winning a lottery or building a successful business with hard work?
Working hard for someone else ... is not a way to become financially wealthy. People might disagree. But to become truly wealthy, where all your financial needs are met for the rest of your and your children's life, is pretty much impossible while working for someone else. This method of saving pennies has to be combined with some form of investing or business to attain true wealth.
So should we forget about getting rich quick? No not at all, as long as we also keep in mind that becoming a millionaire is a process, unless of course, you are born a Paris Hilton. Most of us, however, do not have that privilege and have to make sacrifices on the road to success. Hard work and education are two keys that will ensure success in both finances and personal development.
Source: Free Articles from ArticlesBase.com
About the Author:Alexander Tretjakov Author of MiWay Time Management System Get this e-book FREE at: click here to download now BurstCreativity.com Unconventional Thinking University - personal development, Creativity and Self Help community www.BurstCreativity.com
Member Comments...
Some people take a lifetime to learn this. Others, get it quick!
I think the important thing is to define exactly what you mean when you use the term "get rich". What is rich to you? If you don't know what you want, how can you hope to achieve it?
Richness=income/hours worked. Where hours worked is never less than 1. Without getting into a whole dissertation about what constitutes "work", let's just say, for argument sakes, it means, where we apply effort.
This proportion goes up as your knowledge of business and investment systems increases. Our effort (work) therefore is most wisely invested in learning (education).
We learn (retain, remember, develop new skills) by researching (reading, exploring, seeking). We learn by doing, repeatedly, until new habits are formed. We learn by seeking out experts (mentors, coaches) and doing what they do.
Learning this volume of stuff doesn't come naturally to most. It has been proven though, that by manipulating certain variables, we can accelerate learing.
Just to name a few: Motive, Plan, Commitment. You know, all the stuff TQ is exclaiming about all the time.
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