You have to create something that the people want. That too with scalability.
Create a product or service that can be distributed to many people and creates lots of value.
If you create a product that has lots of value for fewer people, it is as effective as a product with less value for more people. Elon Musk calls it the area under the curve.
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It means you should run after assets rather than money. The assets will in turn make money for you.
We should build valuable skills. Selling skills for example.
If you can create a product, you also need someone who can market it and sell it to the public. Also, you can be that person for a partnership with someone else who creates the product.
What would Apple be today without th...
Creating wealth is a skill. Not an identity. Naval is confident that even if all his wealth is taken away right now he will regain all of it in 10 years or less. Because creating wealth is a skill and fortunately, he has learned the skillset.
You can too.
To achieve massive wealth in life, you need to be in massive action. Many talks but less do. Execution is scarce and valuable.
If you can think of something and execute it, you can do anything.
These are the principles that Naval Ravikant used to create the wealth that he owns now w...
Learn to create a product or learn to sell it. If you know how to do both, you are unstoppable.
One way to make money is to acquire a portion of a business. Generally, when new startups are made they give some portion of the business to its founding employees. When the business is successful the founder along with those employees become rich.
If you don’t have the ownership you only ...
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Thinking to grow your wealth? Read these snippets.
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...you need to get yourself in a situation with measurement and leverage. You need to be in a position where your performance can be measured, or there is no way to get paid more by doing more. And you have to have leverage, as in your decisions having a big effect in the final product you...
Helping others and showcasing their success stories creates a synergy effect, and helps one succeed in the long run. Ask people to be featured on your blog/site/podcast and collect their testimonials. It creates a body of work that other people (like clients of b...
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