1.CAN YOU BECOME RICH?
Money is the means of survival in this world. Up to any country of the world, if the government and the people have issued certain currencies which is circulated in the country & the same acts as equivalent of any product & service offered. Everyone is working whether job or business for ultimately receiving the end result is that he calls so money. In your first year of placement, you take those companies seriously. I appear to the exam/interview. They conduct. Why so? The underlying reason is money. They will offer you money in return of the service you offer to them. Through your knowledge & skills. Why do you need money? And why every human in this world need money? Well, the reason so simple. Any item/product/service you need from someone needs money from you in return. You are working sincerely in your company because of the motivation factor. Is money so because you have fear that if you are not working sincerely, you may be removed & you will stop earning money. So, this is clear that every one in the world need money. The more money you have, the more happiness you can buy. If you have sufficient money, you can get treated in the best hospital which has best doctors & if they demand more money for their excellent medical service, if you have sufficient money you can go for a long tour to a destination of your dream & be happy. Examples are endless. However, it is a bitter fact that not everyone in this world have a sufficient money to obtain any product or service of his choice. Pareto (80-20 principle applies roughly here too i.e. 80% of the world’s wealth is occupied by 20% of the people. That means 80% of the people are obliged to share 20% of the wealth living in front. The next 20% of the people who boast 80% of the wealth, building more and more wealth needs a different mindset. Smart work and persistence with a recent research done on different countries & their cities, it was found that following four categories of professionals people makes more money as compared to others. Let’s have a look at the four categories-
1) Investors — I think this is the easiest category among 4, which can lead you to be a wealthy. And believe me, if you have bought a share worth $1 or done a SIP of $1/month or anything like that, you are an investor! Anyone can be called an investor if he/she is giving his money to someone to run a business. This money can be given as a loan, wherein the lender receives fraction of the ownership of the business he is lending to. The fraction depends on how much money he/she is giving. So accordingly, share holders, mutual funds, etc. come under the investors where you invest & become an investor. Investing in these instruments in a disciplined manner & taking the advantage of compound interest can make you wealthy after a course of time. Warren Buffet is one good example who is one of the richest persons in the world with his job & investing.
So, in short —
- Safe and modest way to increase wealth
- For being safest invest in debt i.e. invest your money in government debt either in bonds, debt mutual fund etc.
- Take little risk, invest in stocks through mutual fund. A third person (and manager) will invest in high stocks by taking money from several people like you.
- You can also enrich your knowledge & invest in stocks yourself. You can expect to become wealthier sooner than previous case.
- Enrich your knowledge and experience, followed by making a mindset of higher risk, invest in future & option to become wealthier. Even more sooner than the previous case.
- One good part is that your nature does not play much role here & it does not matter whether you are an introvert or extrovert, you need to make well-informed decisions of investing where you know where you are investing.
2) Experts — These are the people who gain specialization in a particular field and their service is very much appreciated / consumed by a large no. of people. Society always needs them so they have their jobs secure. Rajnikant is an expert actor. His work is appreciated by a large mass of India. He gets hefty fees for each movie. He might get a part of ownership of the movie. Due to the popularity, he might be able to generate additional revenues. Like brand endorsement. He might be offered a ticket in politics. Similarly, recall the cardiac surgeon of your city. Recall the successful lawyer of your city. State/ country, Kapil Sibbal, Ram Jethmalani are few examples of it. A person is a expert cricketer. Kapil Sharma. Not everyone can be expert. You need to be focused & also believe that is god-gifted high / & play a lot of role here. You have to be the best in a field Your communication skill is required. Job safety is there as your skill is valuable. Degree are available after 12th graduation in different specialization which can give you a kickstart but it is ultimately your hard work & focused work & skill that pays.
3) Executives — If you are working in a company, you might be aware of the people holding the positions like Vice President, senior vice president, senior executive director etc. These are people who hold key positions in a company. Mostly, they are in direct touch with CEO, board of directors or chairman. They drive the company’s business and they bring new business to the company. Due to this, they enjoy extra perks apart from the salary. They get sizable amount in company shares.
- I think this job is not for introverts but for extroverts. You need to handle the senior and junior employee in your organization. You need to answer to CEO, chairman or board. You need to deal with customers. Your action directly links to company’s reputation & foothold. Need to have exceptional people’s.
- You might need to be a boot-licker in some organization/corporate. But you will need to be a winner too.
- You must have the domain knowledge in which the company is working. As high as can you go in the ladder. The skill of making business strategy, become more crucial.
- One downside is that you need to have spent many years in the same company.
4) Entrepreneurs — These are the people who think out of the box. They identify a problem that the society is facing & start a company with an unique idea to solve that problem. They try to build up a business based on an idea. Ola, for example, was a start up, when idea was to being driver & rider on the same platform, making the life easy. Flipkart, Zomato, Urban Company etc. all the startups which try to solve a problem.
This is a highly risky category. We know that thousands of startups are started everyday but same no of startups are closing also. Ideation and implementation both should be perfect.
Angel investors are required to fund for the implementation. It is a great support if you have strong financial background.
Now we will try to see what kind of people are suited for either of these 4 categories. Already each person is unique showing different behaviour than the other.
| Low IQ | Introvert | Lazy |
| Medium IQ | Extrovert | Hardworking |
| High IQ |
There are three classifications to inherently present in a human
Classification-1.
1) Low IQ — IQ is something which is gifted by god & not much can be done to improve this. There are the people who are not able to understand things easily.
2) High IQ — This is something which gives people have got as god-gifted. They are the people who have understood new things quickly. They do not need much time or effort to understand things.
3) Medium IQ — People have this IQ between low & high.
Classification-2
1) Introvert — are the people who are generally shy. They speak less & necessarily. They struggle to make merry or partying. They might have stage fear in public speaking. They have little social interactions.
2) Extrovert — They are just opposite of introverts (unsociable).
Classification-3
1) Lazy — People who don’t want to spend time or effort in any work, not even in study.
2) Hard working — These are the people who invest their mind, body & money in a work with full dedication. They are not miser in spending their efforts & time in any work.
Having a brief idea about different character traits, let’s make a cartesian product of all those three categories of classification & try to predict if a person is suitable or not for any of those 4 categories of wealthy people. Three indicators will be used.
- ✓ : Suitable
- – : Suitable but will be mediocre
- X : Not suitable
People having —
I. Low IQ — Introvert — Lazy
Things are really difficult for these people. They would need to struggle more for their category to achieve any of them 4 categories –
| Investor | – |
| Expert | X |
| Executive | X |
| Entrepreneur | X |
II. Low IQ — Introvert — Hardworking
These people most likely can’t convert their hard work into smart work. Hence, they will have to spend more and more time compromising on their health & family life.
| Investor | ✓ |
| Expert | X |
| Executive | – |
| Entrepreneur | X |
III. Medium IQ — Introvert — Lazy
Just like I – things are difficult for them too. However, they will be in a little better situation.
| Investor | ✓ |
| Expert | X |
| Executive | X |
| Entrepreneur | X |
IV. Medium IQ — Introvert — Hardworking
These people can make it big to happen since they have OK-OK IQ and the great asset is that they are hard working.
| Investor | ✓ |
| Expert | – |
| Executive | – |
| Entrepreneur | – |
If they could maintain focus they would be the best. Lost focus and they will be mediocre.
V. High IQ – Introvert – Lazy
Bill gates once said- I’d like to hire a lazy guy for a job in MS as he will find an easy way to do it. So, business owners like Bill Gates need such kind of people. Harsh line – These people have high IQ So they earn fat pay in these corporates but their mindset is of a corporate rat only – fat rats!!
| Investor | ✓ |
| Expert | ✓ |
| Executive | X |
| Entrepreneur | X |
VI. High IQ — Introvert — Hardworking
This introvertness does not pose much problem for them because of other 2 factors. Even being introvert they are able to deliver results. They can communicate effectively.
| Investor | ✓ |
| Expert | ✓ |
| Executive | – |
| Entrepreneur | ✓ |
They do lack some quality of executions hence they tend to become an mediocre executive. However they can do best in other three.
VII. Low IQ — Extrovert — Lazy
Not much room for them also. These people can mostly go into customer support, receptionist, salesman, marketing etc.
| Investor | – |
| Expert | X |
| Executive | X |
| Entrepreneur | X |
VIII. Low IQ — Extrovert — Hardworking
Definitely they have an upper edge when compared to I and II.
| Investor | ✓ |
| Expert | – |
| Executive | ✓ |
| Entrepreneur | X |
IX. Medium IQ — Extrovert — Lazy
They will have better situation than VII.
| Investor | ✓ |
| Expert | ✓ |
| Executive | – |
| Entrepreneur | X |
X. Medium IQ — Extrovert — Hardworking
Things are golden glowing for them.
| Investor | ✓ |
| Expert | – |
| Executive | ✓ |
| Entrepreneur | ✓ |
The path of entrepreneur is open for these people. They have all the required traits to excel in all the categories. They would be a mediocre expert since they have medium IQ & a person with high IQ would be a better expert than this person even though the does not have trait of like extrovert & hardworking.
XI. High IQ — Extrovert — Lazy
When God has given you so much beautiful features, why are you making it rusted by being lazy? They could be the king of jungle (lion) but they are not. They are hyenas!
| Investor | ✓ |
| Expert | ✓ |
| Executive | ✓ |
| Entrepreneur | – |
XII. High IQ — Extrovert — Hard working
They are God, rulers, kings, jungle. Whatever you say. Needless to say.
| Investor | ✓ |
| Expert | ✓ |
| Executive | ✓ |
| Entrepreneur | ✓ |
So, which category out of them do you fall into? If you are disheartened with the category you fall in, don’t get disheartened. You can always start to change. More than one combination is possible. Wishing you all the best in you endeavour in building wealth. Remember, good things don’t happen so easily. If it would have been easy, so now one would have been with less money & power.