Making money and achieving financial success is a journey that involves learning, adaptation, and persistence. Drawing from over 15 years of experience in finance and business, these 19 Lessons on Making Money offer timeless advice and practical strategies to help you build wealth and achieve your financial goals. Whether you’re just starting out or looking to elevate your financial game, these insights will guide you along the way. 馃搱馃捈聽
1. Be More Useful to Wealthy People 馃挕
If you want to make more money, be more useful to people who have more money. Providing value to those who are already successful can open doors to lucrative opportunities and networks.
2. Become a Top Executive鈥檚 Right-Hand Person 馃搱
The fastest way to make your first million is to become a crazy CEO鈥檚 #2. Being close to decision-making and high-stakes operations accelerates learning and earning.
3. Keep Grinding Until You Can鈥檛 Be Ignored 馃殌
The secret to success is persistence. Keep grinding and improving until you become indispensable in your field.
4. Climb the Corporate Ladder Strategically 馃獪
Path to your first $100k: Get a job that pays you more if you do more. Mimic everything the top performer does until you can鈥檛 possibly earn or learn more, then apply for a higher-paying job.
5. Surround Yourself with Owners 馃彚
Surround yourself with owners; the conversation is just different. Being in the company of business owners and high achievers shifts your mind set and opportunities.
6. Take Risks Early 馃敟
The biggest mistake in making money is waiting too late to start taking risks. The earlier you take calculated risks, the more time you have to recover and grow.
7. Bet on Yourself 馃挭
12 years ago, I quit a six-figure job to take a lower salary with more upside. Everyone thought I was dumb. I鈥檝e done that seven times since. Every time betting on me has made me more money.
8. Ask for Advice When Raising Money 馃摓
If you want to raise money, ask for advice. If you want to get advice, ask for money. The approach can reveal insights and open up funding opportunities.
9. Protect Your Reputation 馃専
If it will make you money but degrade your reputation, don鈥檛 do it. Reputation compounds into cash.
10. Your First Deal is About Growth, Not Wealth 馃尡
Your first deal won鈥檛 make you rich, it鈥檒l make you grow. Focus on the learning experience and growth opportunities.
11. Chase Your First $500k Unapologetically 馃捈
Life is just easier up until you make about $500k; then it gradually evens out. So unapologetically chase your first $500k.
12. Keep Your Day Job Until Your Side Hustle Pays 馃寘
Keep your day job until your night job pays. Maintain financial stability while building your side business.
13. Live Below Your Means and Invest 馃彔
The key to getting rich rapidly? Live like you鈥檙e poor. Increase your income. Use your income to buy cash-flowing assets.
14. Wealth Over Appearance 馃弳
Never buy to impress. Being wealthy > looking wealthy. Focus on building real wealth rather than projecting an image.
15. Savings Alone Won鈥檛 Make You Rich 馃捀
Saving won鈥檛 make you rich. Investing and creating multiple income streams will.
16. Embrace the Ups and Downs 馃帰
You won鈥檛 always win. You won鈥檛 always grow. You won鈥檛 always have success. Remember, you鈥檒l have seasons; it鈥檚 normal.
17. Do Favors, Don鈥檛 Take Them 馃
Doing favors builds goodwill and strengthens relationships, whereas taking favors might put you in a position of debt.
18. Multi-Millionaires Aren鈥檛 Always the Smartest 馃専
Most multi-millionaires I鈥檝e met aren鈥檛 that smart. They move fast, they take risks, they work a lot. That鈥檚 it.
19. Sacrifice Today for a Better Tomorrow 馃尀
Your price for better days in the future is hard, insufferable days today. Embrace the grind and sacrifices for long-term gains.
Conclusion : Lessons on Making Money
Achieving financial success involves a mix of hard work, strategic risk-taking, and continuous learning. These 19 lessons from over 15 years in finance and business provide a roadmap to help you navigate your journey to wealth. By adopting these principles, you can build a solid foundation for financial growth and long-term success. 馃殌
