7 Things You Should Avoid If You Want to Be Rich

[00:00] then you have to make the sacrifices when I was in my early 20s I started out with no qualifications and no money,

[00:13] and a big part of that was down to avoiding the seven things The first thing to avoid is working for only money. that you got a boring but well-paid job.

[00:28] Your friends will think that you're absolutely killing it However, over time, your earning potential

[00:40] Now, imagine instead you get a challenging as you improve and adapt. Your friends will probably think you're falling behind

[00:56] However, over time, This is path B. So, what's the difference between these two examples?

[01:10] whereas path B prioritizes two key things, Every self-made millionaire I know has followed path B

[01:22] As I mentioned, I left school at 16 with no qualifications. and actually got offered more than five opportunities.

[01:34] Which should I choose? The pay wasn't great, so, I prioritized those.

[01:48] but at least I was working for more than just money. after being relentlessly bullied by my manager,

[02:00] when I'm designing my bestselling brand By learning a wide range of high-income skills, it makes it almost impossible for you to ever be broke again

[02:14] I like to think every job I had when I was younger Nowadays, I'd recommend prioritizing such as copywriting, video editing, and coding.

[02:30] and I can speak from experience Sure, there are lots of people doing those things, Honestly, your competition really isn't that tough.

[02:47] This just means owning a percentage of a business My radio-controlled model brand You can gain equity in a few different ways.

[03:01] was to start the business myself. if you're extremely skilled in certain areas. Lastly, you can purchase equity in certain businesses,

[03:16] that can help accelerate that business forward. telling people to start their own businesses

[03:28] While I 100% agree with the sentiment, Firstly, it's worthwhile working for someone to gain skills Secondly, you need to be realistic.

[03:44] when I was an apprentice. for why you deserve it instead of just taking from it.

[03:57] The main takeaway here forgetting the importance of skills and equity. The more you obsess over earning just money,

[04:11] The second thing to avoid is buying a luxury lifestyle. sun-drenched streets in a bright yellow Lamborghini. and order a $500 fillet steak without batting an eyelid.

[04:29] Pretty successful, right? Most people you see living this way are far from successful. taking trips to Dubai on credit cards

[04:44] and ordering steaks at Salt Bae's restaurant These people are living a lie, It's all smoke and mirrors,

[04:57] than build real wealth. Seeing people live these luxury lifestyles might tempt you as you feel like everyone is living a better life than you.

[05:10] In fact, 37% of Americans can't afford 39% worry they can't pay their bills,

[05:22] to buy a new car. you can buy whatever you want. However, in the early days, you can't live like a king

[05:35] Instead of buying depreciating items and dining in expensive restaurants, and real estate.

[05:48] that you can then use to do whatever you want. You might be really great at what you do, a group of talented people working together.

[06:05] If you do some digging, you'll see they all had help. On the surface, it might appear who's achieved everything single-handedly.

[06:20] He was part of the group that launched PayPal. When eBay acquired PayPal for $1.5 billion in 2002, spread across the industry like a virus.

[06:33] as they've become such a powerful group. they started many successful companies. Yelp, LinkedIn, and SpaceX.

[06:47] But what if you're not aiming and instead just want to earn some extra money Well, a lot of older business owners are kind of lost

[07:01] and using the internet for their companies. there's online tools for literally everything, keeping track of projects, or even building a website.

[07:14] we didn't have any of these things, So, if these older business owners don't know and they understand they can't do everything themselves,

[07:29] You can help them bring their businesses and make a lot of money in the process. but how could you actually do it?

[07:41] then I'd recommend using an all-in-one management platform. all in one place. that needs a proper update.

[07:54] Let's jump on Odoo and make something a bit more up to date. and select the eCommerce app option. I want a business website, there we go,

[08:09] After this, I've got the option but instead, I'm just gonna add their logo based on their brand colors.

[08:21] All these look pretty good, so let's go with this one. to easily edit the page and customize the images. They also have this cool AI tool to help me out with words.

[08:35] and I'll have something pretty cool to show you. Check this out. You could make some serious cash

[08:47] with all the different apps on Odoo to see if they to sponsor this portion of the video. your first application free for life

[09:01] Odoo offers a personalized domain name for one year. The fourth thing to avoid is having too many inputs.

[09:14] in a million different directions? from side hustles to fitness training. on what you should be focusing on.

[09:27] This is you, what they think you should be focusing on. For the sake of simplicity, let's just call them inputs.

[09:40] like becoming a doctor, entrepreneur, getting a stable nine-to-five job, traveling,

[09:52] Let's call these your potential paths. called cognitive overload, with the overwhelming amount of information and choices.

[10:08] Well, I've always started with my end destination in mind what I wanted to do in the future. I then made sure to only listen to inputs

[10:24] The clearer your goal, that easier it becomes So, limit the number of opinions you receive and prioritize quality over quantity.

[10:37] but not from experts. Cut out general opinions and instead seek expert advice. or even educational videos from experts like myself.

[10:52] and specific guidance for your end goal. you still don't need to know everything at once. and then when you're facing another challenge,

[11:08] If you don't do this, then you'll get mental fatigue, where you find yourself unable to take action Some people might even mistake this for being lazy,

[11:23] The fifth thing to avoid is being ego driven. arrogant people won't even finish this video. But that's exactly the problem.

[11:39] that could genuinely change your life. Ego-driven people are often too focused on the big picture, This might sound productive, but it's a dangerous trap.

[11:53] you end up overlooking the small but crucial steps to scroll through this video rather than sitting down

[12:07] but by doing so, they miss out on the valuable insights When you're too egotistical, especially those who might know more than you.

[12:23] who have already walked the path that you're trying to take. True wealth isn't just about being confident. to understand that you don't know it all,

[12:36] the more you realize how much you don't know. What you know is just the tip of the iceberg. That's what truly matters,

[12:52] In short, arrogance is a silent wealth killer. too smart to listen, that lead to greatness.

[13:06] One of my favorite Chinese proverbs has a long way on his journey to go. The man who blames no one has already arrived.

[13:21] a magnifying glass and a mirror. to reach for either of these on a daily basis. If you choose to pick up the magnifying glass,

[13:37] This is a dangerous path as it leads to the blame game. it's natural to wanna pass the blame onto someone else,

[13:51] when you've blamed your teacher for a test you failed, than actually studying, onto the traffic for being late,

[14:04] But here's the thing, these small instances of blame don't stay small. that's hard to break free from.

[14:16] "The government hates young people," "My boss doesn't like me," and, "Life didn't give me the right opportunities."

[14:30] the bigger your excuses become. then you instead focus on the stuff your own thoughts and actions.

[14:42] to be the person who has already arrived you need to pick up the mirror, not the magnifying glass. This is your comfort zone,

[14:57] Notice how there are no gaps in this circle. with no way out and no way to grow. According to some studies,

[15:12] and 45% of them are worried So, what can you do to break out of this prison? when our minds are conditioned to avoid taking risks,

[15:28] Let me show you how I did it. school, studying subjects I wasn't good at, The traditional education system didn't suit me.

[15:42] I wanted something more hands-on. and pursued the apprenticeship I mentioned earlier. But I wasn't satisfied yet.

[15:55] so I started experimenting with side hustles, Suddenly, the world was full of possibilities. The next step was clear, starting my own business.

[16:10] This was a pivotal moment requiring a big risk, a bank loan. To expand my empire further, for my own brand of radio-controlled models.

[16:24] I managed to build valuable connections. I ran my business for many years and enjoyed success, My family was happy, my bank was happy,

[16:37] So, I expanded my comfort zone again and started posting videos on YouTube at the age of 53. so I wanted to share my knowledge and help others

[16:52] or those who wanted to grow their wealth Remember, you can expand your comfort zone But you have to claim it for yourself.

[17:06] you'll miss out on all the possibilities If you wanna learn what to do every time you get paid, Make sure to subscribe

[17:19] I'll see you over there.