Naval Ravi Kant podcast ‘How to get rich’ is a 3 hour long so I have decided to do a breakdown to answer how to become rich and successful.
To make money is easy, anyone can do it. However to become wealthy one needs to understand a simple but crucial rule of nature. How to get rich is a process.
We, humans, are social animals with the ability to cooperate with one another. This ability to cooperate maybe one of the prime reasons why we as a species are dominating the entire planet.
A simple man has the innate abilities polished with basic education to make wealth for himself and more in abundance. We can see the example of big billionaires game players who made wealth in abundance not only for themselves but also millions of people worldwide. All this was possible by the cooperation of our species from all corners of the world.
Few points to help you understand what qualities and skills help to answer how to become rich and successful, breakdown of “How to get rich” naval podcast:-
- Desire to play the game:
Making money in abundance to generate wealth in the long term makes you rich. Firstly, you should respect this desire and not compare it with greed. This also should be kept in mind not to put anyone down around you who has that desire and wants to play this game. - Observe the Takers & Makers in society:
Many politicians, leaders of cult or groups are generally feeding on the common man’s hard-earned wealth. They are like parasites born to eat away your wealth and assets in a short time.
Getting influenced by such parasites will make you lose in wealth and success in the long term leaving you and your family starving. These parasites are the takers of the society who if not kept under control will destroy the entire civilization.
On the other hand, we have makers in the society who have the burning desire within themselves to play and excel the game of getting rich. These makers can sustain civilizations for long. Hence its totally on you whom to decide as a parasite or a maker of the society. - Understanding the importance of Free minds & Free markets:
In a society with unbearable monopoly, ruthless capitalism one cannot expect the minds of a common man to be free. If the common man isn’t free the market is caged with no scopes of learning and improvement. - Consistently creating money:
Waiting for the opportunity to catch that one Big Fish is a big mirage. One has to consistently be part of this game and never quit it. In other words, one has to simultaneously keep doing small and mediocre investments, more options while keeping your mind active in the entire process.
Work from home jobs without investment - Understanding what actually is Luck in this game:
The oldest meaning of luck is the dumb/blind luck where 80% of the society believes in. The modified meaning of luck as interpreted by a hardworking immigrant in the US from a third world country is that Fortune favours the brave.
The more you put in, the better return you get. The more advanced meaning of luck is: Making yourself recognized, reliable, trustworthy in the long run with the opportunities present to you without constantly hunting for it. This way you are building those sensitive and fragile bonds in the long run required for making wealth.
Then when these qualities of yours will be utilized you will no longer think of it as “Luck” but maximum people around you will term it as Luck. - What decides Fate and destiny:
Your continuous improvement in character, development in personality makes you lucky enough to sense those opportunities around you which no one can see and this decides your Fate and Destiny. - “You can’t be normal and expect abnormal results”:
A crisp one-liner said by Professor Jeffrey Pfeffer of Stanford University. This one line basically appreciates one’s eccentric, monomaniacal, ruthless attitude to make money in order to become wealthy. - Using social media to improve your social standing:
Arguments, opinions presented by people just to prove their social superiority simply sinks them deep down to the never-ending world of chaos. It comes to a point where one soon realises the futility of it and decides to quit but can’t as it is too late. - Pursuing careers where the input and the output are highly disconnected:
This means that it does not depend on the number of hours that you put in but on the sharpness of your skills in that profession. From the same profession, a highly-skilled professional will complete the task more creatively and efficiently than an average professional who would maybe take years to refine.
10. Accepting that you are replaceable:
What you do today has high chances of getting replaced in the future by geniuses of Artificial Intelligence, Big Data. Pursing professions where the input and the output are highly disconnected makes you less prone to getting replaced by machines and robots.
One of my favourite to answer how to become rich and successful.
11. Giving society what it wants:
You do not get rich by your renting out your time but by giving society what it wants and does not know how to get it. Society always wants new things and you have to identify it and make it available easily for them.
This is going to make you wealthy. For example, Mukesh Ambani identified that Indian society needed 4G connectivity but it doesn’t know how to get it for cheap. Similarly, Steve Jobs identified that society needs smartphones in their pockets so that it can work like a mini-computer.
12. Using the Internet to make your skills accessible to interested people on this planet:
The Internet is a tool which can connect you with an interested audience. For example, an obsession to watch birds, or to see a lion roar or to make potteries. The internet is that magic hole which has the ability to connect you with someone completely unknown but having the same interests as you. This is the beauty of the internet.
13. Accept your authenticity :
Don’t imitate. Don’t copy anyone. NO ONE can compete with you on being you.
14. Playing a long term game with the long term people:
Working in industries where you can think long term builds your trustworthy base. This will make you reap benefits in a compounded manner.
Tips To Build Relationships Forever With Anyone
15. Trust:
If you want to play a long game then you have to work with other people and you have to understand whom can you trust. This trust compounded with your skills will get you much-desired rewards later. For example, the success of Silicon Valley comes from the network of people highly trusting one another in a small geographical area.
16. Ethics:
Make your ethics visible in your actions.
17. Recognizing leadership skills:
A good leader does not want to get credit for the work done. He/she just wants the team to get the job done. The reward gets divided fairly in the presence of a good leader. So in order to become rich one should either know and appreciate a good leader or instead work on oneself and become a good leader.
18.Identifying integrity:
It’s really important that with whom you work and share deals should be a person of integrity otherwise he‘s eventually going to cheat you in the longer run.
19. Pay attention to signals:
A crucial step in becoming rich is to identify the correct person who will do the work what you want them to do intrinsically. You can’t make them do work what you want by imposing certain forces. Always pay attention to signals of the person before forming him a part of your team.
20. Speaking the precise language to get things done:
Speaking in a language that a computer understands can make an entire army of robots ready to work for you at your command. You just have to command in their precise language. In real-world too if you speak the language of your employee to make him understand what you want them to do can fetch good results.
How to become rich and successful is possible for anyone with a sane mind and basic worldly wisdom. Earning a monthly salary does not make you wealthy. For being wealthy one needs to rely on more than one sources of earning. To do this one must be open to all sorts of opportunities.
Thinking long term instead of shallow thinking will make your journey of making wealth and assets easier. You just have to get started on the goal of being a wealthy man.
Buy this book for sure from AMAZON now as once you will understand money, your life becomes sorted!
