3 Money Making Secrets I Wish I Knew At 21
Ranveer Allahbadia
Founder at BeerBiceps Media World Pvt. Ltd. | Forbes 30 under 30
1. Aim high.
Aim High,but know there will be doubters.
Want big money? Think of a groundbreaking idea first. If you begin work on a groundbreaking idea, society will doubt you.
I was told the following :-
- You can't build a sustainable career in fitness. (I did. Earned more than any of my college mates at 22. Worked as a trainer.)
- You have to have job experience in a corporate before starting a business. (Thank God I didn't do this. Huge difference in being a cog in the wheel vs. being the whole wheel.)
- A life without a higher education degree is unsafe (A life without higher education keeps you motivated, in my opinion. It's the best growing up you'll do)
- How do you expect to build a career using video editing? (Because video content was and still is the future. Also, I ENJOYED it therefore it became my career)
- Okay, you're a YouTuber. But what now? (I will use these YouTube skills to build an empire of companies. A well polished skill creates more skills in you.)
Trust your vision. And know this :-
- LEARN a lot before taking on a challenge.
- TALK to a lot of people about what you're doing.
- SOAK IN the best ideas.
- TAKE A PUNCH. Criticism can help you.
- GET UP. Use that criticism to build the best possible product/service/business.
- BUILD. No use of all this without EXECUTION.
"It's not about striking when the iron is hot. It's about striking till the iron becomes hot."
Do things, because,
2. An overnight success story takes YEARS to build.
Sachin, Kohli, Ronaldo, Messi, Jordan, LeBron - They make their games look easy. That's an outcome of YEARS of practice.
Those moments when NOBODY is watching you struggle.
NOBODY is watching you put in the hours.
NOBODY is watching you sweat and cry.
That's where your future is built.
Want to do something nobody else has done? First be ready to work the way nobody else has worked.
If you don't know where to begin your business or career, do these 3 things :-
1. Get fit :
- Will teach you discipline.
- Will teach you patience.
- Will give you confidence.
- Will make your mind sharper.
2. Skill up :
- People will pay you if you add value to their life.
- If you want to add value to someone's life... Do something that others can't easily do.
- Skills are more easily learnable TODAY, than at any other point in history.
- The higher your skill set, the higher your pay package.
- Some relevant modern skills : Videography, Coding, Financial Management, Graphic design, Communication skills, Leadership.
3. Educate yourself
- Conversations with successful people will give you some of your life's best learnings.
- If you don't have access to such people, read their books or listen to their podcasts.
- Knowledge creates wealth. As simple as that.
Speaking about education, learn life's biggest career-tool :
3. Teamwork
You will NEVER make huge money alone. You may make big money. But never HUGE money.
Money is earned in teams. Money is earned when you learn how to delegate.
What is delegation?
The art of TRAINING a capable person to take some work duties off your plate. When your duties are taken off you, you have time. Use that time to challenge yourself further or pick up NEW duties that will lead to your growth.
DELEGATION is the biggest challenge that people face, when trying to grow in their careers. Why?
- They don't trust people enough : Get over this, otherwise you will never grow.
- They aren't ready to fail : Sometimes team members will let you down. Doesn't mean you don't look for replacements. Keep trying till you find the right person.
- They are scared to grow THEMSELVES : I strongly believe that if you're doing the SAME TASKS now, that you were doing this time last year... you are playing the game wrong. Learn, practice, perfect, teach, leave, grow, repeat.
Don't stop at JUST perfecting your current duties. You will always be a cog in the wheel that way. Strive to be the whole damn wheel yourself.
It is difficult to generate money from nothing.
It is easy to generate money from some existing money.
Skill up to go from 0 to 100. But if you wish to go from 100 to 1000, it's going to happen through your team. It's going to happen through good leadership.
Teach them, give them responsibility.
Inspire them, give them a vision.
ELEVATE them, give them (AND YOURSELF) growth.
Pick your generals wisely and eventually teach them to pick their own generals.
When hiring, look for :-
- EXACTLY the skill set that you need at this moment. Because without clarity in hiring, you will waste your money and energy.
- FAST, independent thinkers. Because they should make your life EASIER, not harder.
- GOOD people. Because assholes take away from YOUR peace.
- HONESTY. Because bootlickers will be the beginning of YOUR downfall.
- THE VIBE. Because if you can't chill with them, you won't be able to work with them.
If your goal is BIG money, aim to make money for the ones around you. Aim to put money in your team's pockets. The leader sets the tone for the team. And true leaders create leaders around them.
Multiple GIVERS, will create wealth that is AUTOMATIC.
Multiple GIVERS will give your organization a GROWTH oriented culture.
Work hard today. Teach hard tomorrow.
So that day after, you can party hard with the warriors who did it with you.
Sales and Marketing Intern @ Ashish Builders & Developers | Financial Analytics
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That's some solid advice, really wish more young people knew this early on.
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