Want To Be Rich? Don’t Start A Business 🚫💸

As soon as I left school, I started my first business which made me a multi-millionaire and gave me the life I'd always dreamed of. This statement isn't just false—it's pretty much impossible. The trouble is, many people wanting to get rich are buying into this narrative because it's so widespread on the internet. Why? Because it sounds so much easier than the reality. If you want to get rich without putting in the hard work, then I'd recommend buying a lottery ticket and crossing your fingers as it'll probably be more effective. 🎟️🤞

Don't get me wrong, I did make my millions from starting successful businesses. However, I didn't just jump straight into a business idea after watching a "top 10 side hustle" video. So, when I say you have little to no chance of starting a successful business straight out of school, I'm not trying to crush your dreams. Quite the opposite! I want you to save your valuable time and start building the skill sets you need to succeed. So, if you want to become rich, listen up! If I were in your position, I'd follow these six steps. 🚀

Step 1: Find Your Natural Talents 🎨

I hate the saying "Follow Your Passion." What if your passion doesn't have the ability to make you money, or even worse, you just don't have one? It feels like one of those overused self-help sayings that lacks real substance. My passion was to become an RAF fighter pilot, but as soon as I found out I needed glasses, that dream went out the window. 🕶️🚫✈️

Instead, I decided to park that passion for later in life, when I had enough money to complete my pilot's license and fly planes for fun. I believe you first need to fix the money issue, as never having enough can lead to more problems down the road. The journey to making substantial money isn't easy. If it were, everyone would be doing it! You just have to be honest about what you're actually good at. 🎯

It’s crucial to identify skills that not only align with your abilities but also have market demand. Take the time to evaluate what you’re naturally inclined towards and what you excel at, whether it’s analytical thinking, creative problem-solving, or a knack for persuasion. Once you pinpoint these talents, you can strategically leverage them as foundational pillars in your journey toward financial success.

Step 2: Dedicate Everything to a Job 🔨

I know it's become trendy to want to "escape the matrix." It's even got to the point where people are quietly quitting their jobs. This means they are doing the bare minimum, keeping all their energy for their side hustles. Although I understand the thinking behind this, doing the bare minimum is something that should never be celebrated. That is the type of mindset that ensures you'll never be successful. 💼📉

When I was working as a carpenter, I'd have days I just hated. But I knew a sour attitude wouldn't get me anywhere. Even a job like this can give you the opportunity to practice important skills. I learned woodwork, technical design, quoting, and customer service. I always believed in the phrase "work to learn, not to work." 🛠️📚

Every job, regardless of how mundane it may seem, offers a unique set of learning experiences. These experiences can be instrumental in shaping your professional outlook and equipping you with skills that are transferable across various industries. Embrace every opportunity to learn, and treat each task as a stepping stone towards mastering the art of perseverance and resilience.

Step 3: Nurture Your Contacts and Your Image 🌐

These two go hand in hand. If you don't have a good image, then the people you want to connect with won't want to be your friends. It's harsh but true. We often make a quick assumption about a person, right or wrong, after meeting them just once. Nowadays, due to social media, you don't even have to meet someone to have an opinion on them. So, how you present yourself in person and online is very important. 📱👥

Think about some of your favorite YouTubers. They all have something that makes them stand out. For me, it's my old age and wisdom. Take your strengths from step one and try to show them off when meeting new people. Leave an imprint in their mind. 🧠🔍

Your network can often be as valuable as your skill set. Building and maintaining professional relationships can open doors to opportunities that might otherwise remain inaccessible. Additionally, the way you present yourself, be it through personal branding or professional demeanor, can significantly influence the trajectory of your career. People are more inclined to do business with those they trust and respect.

Step 4: Identify Improvements and Write Them Down ✍️

Remember how I said to write down the good and not-so-good aspects of whatever business you're working in? Here's the thing: a lot of people who go into business do so because their last boss was a complete idiot. At least that's kind of what happened to me! Businesses are all about solving problems, but ironically, they have tons of their own problems. 🛠️📈

Whenever an issue comes up and your boss has to hire someone to help, keep a note of what the problem was and how it was solved. I saw all the problems in the radio control model shop I was working in, such as not meeting customer demand, poor location, and inexperienced staff. I used this information to start a chain of model shops that dominated the market. 💪🏬

Being observant and proactive in addressing inefficiencies can set you apart in any workplace. By documenting challenges and solutions, you’re not only preparing yourself for future entrepreneurial ventures but also showcasing initiative and problem-solving skills to current employers. This habit of continuous improvement can lead to innovative solutions that drive business success.

Step 5: Test Your Fixes with a Side Hustle 💡

Starting a business is scary. It often means taking risks and putting in lots of time and money upfront without guaranteed returns. That's why it's so important to start with a side hustle. Before starting my own range of radio control models, I made sure to stock everything in my shops to get a real handle on what actually sold and why. 📊🛍️

One of my friends went further; he wanted to start an e-commerce store but couldn't afford to take any risks. His biggest fear was being left with inventory he couldn't sell. Then, he had a brilliant idea: what if he tried to sell a product he didn't have? He listed resistance training bands for sale without buying them. When orders came in, he knew the product was sellable, refunded the orders, and then bought the product. This approach helped him test many products. 🚀💡

Side hustles offer a low-risk platform to test the viability of business ideas. They allow you to experiment and refine your approach without jeopardizing your financial stability. By validating concepts on a smaller scale, you gain valuable insights into market demand and customer behavior, which can inform your strategies when you’re ready to scale up.

Step 6: Launch Your Business 🚀

Now, before you say I click-baited you with the title, hear me out. If you've followed all the steps I've talked about so far, your chances of succeeding as an entrepreneur dramatically improve. I see too many people starting a business with zero skills that set them apart, which means they're just going to fail and become disheartened. It's undeniable that the biggest billionaires didn't get that way by just having a side hustle. They did it by delivering value to a huge number of people through a business. 🏢💼

When analyzing the results of your side hustle, try to identify the best parts of what you're doing—the top 20%. Then ask yourself, how can you do more of it on a larger scale and reach more people? If you'd like to be inspired with some side hustle ideas, you can watch the next video here. But don't click on it just yet! Make sure to subscribe if you want to grow your wealth. Okay, I'll see you over there! 📈🌟

Launching a business is the culmination of careful planning, skill development, and strategic testing. It’s not just about having a unique idea but about executing it effectively and scaling operations to meet market demands. By systematically building a foundation through the steps outlined, you’re not only increasing your likelihood of success but also ensuring that your venture is sustainable and impactful in the long run.