Ideas are the fundamental building block of wealth. An idea carried out with skill can become the ultimate source of your own rapid fortune. The only thing that can stop you is failing to come up with an idea in the first place, but luckily you are clever enough to be doing some research on the topic right now and are therefore likely to stumble across something that may really make sense to you.
The concept of wealth is simple and right now I will tell you how every single millionaire that ever existed manufactured his own rapid fortune. Systematic repetition.
An idea comes and a profit is made. That is common. The difference with the millionaire and the guy that doesn’t make it is this. The millionaire recognizes that that small idea and that single profit is not the end of the story. The prospective millionaire recognizes that the profit and the idea are a component. A small component that can now be duplicated and repeated on a larger and grander scale so the fortune is achieved.
Using the leverage of other peoples money and other peoples labour, eventually the simple component becomes a large multi million dollar concern. But most entrepreneurs are not corporate animals. They hate the idea of staff and relying on others for their results. Entrepreneurs are generally independent and like to operate alone. For this reason, they tend to use the leverage of money only and compound it using that leverage. The average entrepreneur likes to keep the momentum going they like to keep moving and therefore are inclined to grow the component rather then multiply it infinitely.
The fundamental entrepreneurial idea of a component (an idea and a resulting profit) can be manipulated in more ways then one and duplication although often used and often successful, the typical entrepreneur would prefer to grow the size of the component if possible so the returns get exponentially bigger at every repetition.
These aren’t new concepts and are definitely the underlying structure of a millionaires activities. If you haven’t heard of this before (and you haven’t or at least you haven’t properly understood it and applied it or you would already be doing it exactly this way) these concepts are not difficult to grasp. In fact a ten year old could easily understand these concepts, such is the simplicity of the idea. What do you think these wealthy people mean when they say things like “keep it simple”? They are aware how astoundingly easily they made their first million and wonder why so many labor and toil for their money. They feel a little guilty and almost feel like imposter’s when people advance on them for advice on how to be rich. The idea is embarrassingly simple. That’s why they don’t understand the poor.
In most millionaires minds, they can only conclude that people without much money who work in a job for a living must enjoy it. They must surely just not want any excess money, otherwise they would just do what they did. Come up with a simple component, a workable idea and replicate it. Its that simple. You don’t need brains to make $1 million dollars you don’t need much money.
By John Benson