The Untold Truth About Money: How to Build Wealth From Nothing.

June 11, 2024

The Untold Truth About Money: How to Build Wealth From Nothing.

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Video Transcript

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Let this circle represent $1,000,000 This is what ten million dollars would look like This is what one hundred million dollars would look like and this is what 1 billion dollars would look like Jeff Bezos the founder of Amazon has a net worth of 117 times this number and then There’s you You’re probably working a job right now one that you got from the degree that you studied for in university you probably don’t have much in savings your living expenses seem Ridiculously high you feel as though you’re not paid enough You have credit card debt that needs taking care of maybe your student Studying for a degree that you ho can and your job that you hope can bring some good money You probably don’t have any savings only a pesky student debt hanging above your head wealth getting rich That all seems like a distant dream. How did they do it you ask yourself seeing all those millionaires billionaires Especially the ones who got there at such a young age It baffles you it makes you angry they got lucky they were born into well They cheated their way to that money doesn’t make them honey as evil and you’re not smart And I’m just unlucky those dreams you had of buying that mansion your favorite sports car paying off your mortgage traveling around the world They’ll forever remain that way just dreams Nothing more nothing less. You come to the harsh realization. It’s a rigged game It’s been a rigged game from the start in you You’re on the losing side of it But what if I told you you were wrong What if there was a way of getting there an actual equation to wealth a science behind the way money works What if you didn’t have to abandon those dreams of paying off your parent’s mortgage or traveling around the world? Would you call me a liar for saying so I promise that I’m not and by the end of this video? You’ll understand there’s a side to the coin that you’re not being shown but I warn you the road is tough It’s filled with struggle. It’s filled with ups and downs It will need swallowing some difficult roofs of the school system and society Haven’t told you yet and let me be clear There are many of you who will not make it to the end of this road But for those of you that do at the end of this road lies wealth beyond what you thought you could attain at the end Of that road lies the freedom of never having to worry about money again so Are you with me? Still with me then let’s not waste any more time What do you really think about money is this something you work for is it earned or is it inherited? Is it the root cause of all evil? Are you desperate to have more of it? Have you been chasing it? most of your life truth is most of what you think about money has been influenced by your upbringing and environment if you were born into a family that didn’t have much money growing up then you’re more inclined to believe that YouTube will not Grow up to have much money or perhaps you went on the complete opposite end and decided to make as much money as you can so that you will never be In that position again the fact that your school didn’t teach you much about this subject Doesn’t help things and because of this most of you are going to have false beliefs about money that aren’t going to help you on This journey now stick with me here because we’re gonna have to change the way you’ve been seeing money your whole life Hollywood has always had a habit of depicting the wealthy and rich as evil backstabbing entitled or corrupt individuals Question is have you bought into that stereotype a Recent report released by Wealth X showed that of the world’s ultra wealthy those that had a net worth of 30 million or more 68 percent of them were self-made and it seems like every other study backs up this conclusion Warren Buffett self-made billionaire Howard Schultz born in poverty Oprah Winfrey born in poverty Jeff Bezos self-made billionaire Elon Musk self-made billionaire Sara Blakely self-made billionaire What is it that these people know that you’d on truth is your equation is all wrong here’s the 2-dimensional equation that you’ve been taught money equals salary earned from a job past a certain point the prospect of getting a job Becomes the sole purpose of your education. So what’s wrong with that you ask? I’m gonna assume that if you’re watching this you want to make money a lot of it and in a short amount of time as Possible if that is your goal. Then this equation for generating money will never get you there We all have a precious resource the most important resource for Hall And once it’s gone There’s no way of getting it back that resource is time in a standard job the amount of money you burn is Dependent on the amount of time you put into that job if you earned $20 an hour and worked 40 hours a week It would take you nearly 24 years to reach a total of 1 million dollars But that is without subtracting any taxes or any expenses that you will incur over 24 years and let’s not forget that Inflation would make your 1 million dollars less valuable the reality. Is that on a salary of $20 an hour? You can only really be a millionaire at an old age by living frugally and most of that precious Resource known as time has slipped through your fingers. You traded all that time for money and it wasn’t even a substantial amount either So again you ask yourself. How is it then that there are self-made millionaires and billionaires that such young ages what makes them so different and the truth is They have a better equation than you they have a way of understanding money that you haven’t quite grasped the earth Pay very close attention now stop chasing money in a capitalist society The rules of the game are as follows You are paid in proportion to the perceived value that you have and the people that perceive your value they are the market the Consumers of the economy the market is you your friends your family your neighbors Your country people complain that football players are overpaid, but for players to be paid millions There has to be a market for the football industry in the first place People have to see the value in football in the first place for them to want to spend money on matches and merchandise and if the market is a high demand for football Guess what happens to the players who are at the top of their game? They are paid generously for it It’s not about how hard you work the cleaner that sweating and tiring himself out every day is paid far less than the accountant sitting behind a desk Why? because the market perceives the value of what the cleaner does to be far less than the accountant as harsh as it may sound the Cleaner can be replaced by anybody. It isn’t difficult to learn how to do his job And therefore the market will not pay him more than the accountant the guy who spent years studying numbers The guy who has saved his clients thousands on their taxes But even so we just discussed how getting a job is in the right equation to amassing a great amount of wealth in a shorter Period of time so then how can we increase or perceived value? What is it about people like Elon Musk or Jeff Bezos? That makes their perceived value so high the first step to this equation of wealth is quite simple if you want money solve problems if you take a second to digest this statement you Realize that just about all money runs from this basic premise if it solves a problem Money will be thrown at it If it’s a million-dollar problem, then the solution will make you Millions If it’s a billion dollar problem Then the solution will make you billions think about all the problems that our site like Amazon solves the hassle of going to a store that hassle of having to wait weeks for a delivery cheaper prices and so on not to Mention all the other companies that Amazon bones and the problems that those companies solve Jeff Bezos helped solve a billion-dollar problem and also awarded favorably for doing so If you’ve been chasing money, then you’ve been doing it all wrong It sounds almost paradoxical but if you want money It isn’t money that you should be looking for you should be looking for problems and more importantly Solutions to those problems and once you found that solution make a business around it Wait, so that’s it Just solve problems and money will appear so I’m gonna have to create the next Amazon for me to be rich or the next Facebook Or Google you’ve got to be kidding me, right? I don’t even know how to code I don’t even have the money to start something of that scale I don’t even hold on your wants more going into old patterns of thinking start with a problem always start with a problem Listen to the market around you What are people saying they don’t like? What are people saying they wish existed? What are people saying frustrates them? What do people think is incredibly inconvenient? Is that a problem that you can solve and also is a problem that is worth solving The final step of this equation to wealth is finding a scalable solution to the problem your solution needs to affect a Magnitude of people starring a restaurant that’s not scalable You’re constrained to the local area and the footfall of that area but a franchise now, that’s more scalable Is your solution a piece of software then that means once that software has been built you can scale it Infinitely online without needing to worry about things like production or shipping costs as it’s all done virtually Good luck finding infinite scale with a job, but be careful does your solution require your time to generate money Let’s say you were a yoga teacher that charged $100 per hour Congratulations, you only made yourself another job disguised as a business There’s only a certain amount of lessons that you can feasibly do in one day And therefore your income is time-bound, but if you created an online yoga class that ran 24/7 with lessons you only had to create once now that is scaleable scaling your solution is critical here So do not get lost on this point automation also plays an important role systems and processes will keep your business running like a smooth machine if Implemented properly if there is something in your business that you can outsource to somebody else or hire an employee to do it for you Assuming it financially makes sense for you to do So then do it tasking yourself with everything is a bad thing as much as you may think you’re the best There’s someone out there that can do a better job than you once you’ve found a solution It’s your job to make sure that solution can be accessed by everyone in your market It’s not about your ego and it’s not about what you’re passionate about. The market doesn’t care about your passions So now that you have your profitable business running with the right systems and processes in place It’s time to move on and reap what you sow There are two likely paths you’re going to face at this point you either Continue your business or cash in and seller This is the acquisition the moment someone buys the solution that you spent years building a business around This is Instagram being acquired by Facebook for 1 billion. This is PayPal being sold to eBay for 1.5 billion of which 165 million went straight to Elon Musk’s pocket and the countless other liquidation events that happen across the world This is where all the effort that you spend into building. Your company comes to fruition And if you choose to continue running your business, well, there’s a multitude of reasons for you wanting to do So maybe you love the company that you built will want to stick with your baby Maybe you think you can add more value to the company and sell it down the line for more than it’s currently worth Perhaps that business runs passively in the background so you don’t have to do much to keep the wheels turning Or maybe it’s a combination of these three things. Either way you did it You solved a problem that the market wanted solving and it were awarded you favorably for doing so and so now I ask you what? Was it all for anyway? For most of you it was never about the money Money is just a piece of paper a number on a screen Its value is only backed up by our belief in its value From the very start this was never about the money Paying off the mortgage buying your dream car traveling around the world never having to worry about your financial situation It’s the freedom that you were looking for. Your destination wasn’t anything monetary related It was a feeling a sensation The ability to do what you want whenever you wanted without ever having to cast the thought towards can I afford this have I used? Up all my holidays for the year. How am I going to pay the rent? Will I be able to live off my pension? What dreams will I have to sacrifice? Because I can’t afford to pursue them the most important lesson from this video was never about the nature of money It was about the one valuable resource that we all have the one resource We will never be able to reclaim time Is giving up a large chunk of your time towards a job that you probably don’t like worth it Is your life settled on working coming home watching the telly? Sleeping waking up the next day and repeating the same cycle till you retire How many more hours of your life do you let slip through because of this pattern? Or perhaps you’re fine with that reality Perhaps you have no other choice but to follow that path for the time being and if that’s the case There’s nothing to worry about the most you got from this video was a little entertainment and maybe a change in perspective but there are those of you that understand the other side those of you that have the desire to Never need to worry about money ever again. And so I feel the need to remind you Stop chasing money chase problems and find the solution to those problems This is the equation through which all money is found if you desire Liberty through never needing to worry about money ever again Then let’s solving problems be the meaningful struggle in your life Does it mean you’ll be happy at the end of the road doesn’t mean you’ll feel fulfilled only you can answer that question But if your struggle is meaningful then perhaps it’s worth pursuing And there is your equation to wealth Of course I missed out on a lot of intricacies in this video the topics of business money Entrepreneurship are far too vast for me to cover in a single video like this But if you do want to get started on this journey I do recommend you read the works of MJ DeMarco who heavily inspired me to create this video and it’s also important to come back To an original point that I made at the start of this which is that most people will not succeed for various reasons But the most important part is failing Failing fast and moving on to the next thing and if you’re out there doing something that isn’t strictly related to a business But you want it to make money then asking yourself the question of what problems am I solving? Could lead you to find ways of better Monetizing whatever it is that you’re doing and that also includes a job and a career if you can solve more problems and find more Solutions at your place of employment you have something that you can use to leverage a higher salary But I will end this all on the same message that I have repeated numerous times in this video Stop chasing money and start chasing solutions to problems Hey, you’ve arrived at the end of the video and thank you so much for watching, but don’t click off just yet I do want to take the time to say thank you very much for watching to the end these things Take quite a few sleepless nights to research script film and edit So you can’t imagine how much I really do appreciate your support if you genuinely Enjoyed this video then don’t be shy hit the like button and if you disliked it hit the dislike Vaughn twice just to be sure And comment down below and let me know why my goal with this channel has been to create entertaining documentary style videos on business finance and life in general And if that sounds like something you’d be interested in and you’d want to tune in for more hit the subscribe on and hit that Notification belt make sure all your notifications are turned on both All of that being said, I hope you have a wonderful rest of the day as per usual. My friends hand ahead salute You

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