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Abstract

Ford with the Model T car. He ran with that old idea of a car for as long as possible. He fended off new ideas for a long time until he couldn’t anymore. And he did for a good reason — you have to start all over again when you want to monetize a new idea.</p><p id="d219">So, if you have an old idea that is working and creating huge results, don’t be quick to change it. In fact, don’t change it until data suggests otherwise. Don’t try to copy what other people are doing. Just stick to the old idea and become a master at it.</p><p id="b1b7">New ideas just make you bleed money. If an old idea is working great, you never change it. This is how the rich behave.</p><h1 id="fa9a">All the Money is in the Present</h1><p id="536e">Rich people don’t think about future money. Future money is a guess. You are assuming. You don’t know how things will be in the future. Sales projections are nothing but guesses.</p><p id="585c">All the money is in the present. You don’t think of how to get money in the future. You think of how to get money today. You think today.</p><p id="ee8a">Now is where the action is. An idea is all about the promise of making money in the future. And there are many people who are stuck because of that. The prospect of making money in the future is getting them excited. Not bad, but the rich take it steps further.</p><p id="0962">The rich are not excited about the prospect of making money in the future. They are excited when they get money now. They are excited when they see money now. The “now” money is the one that can enter your bank account. That is the one you can put in your books.</p><p id="af98">Be less excited about the prospects of making money in the future. Instead, focus on the now.</p><h1 id="d460">What the Rich Gets Excited About</h1><p

Options

id="d3a5">The rich don’t get excited about an idea. Ideas fail. And you don’t know what is going to work until you try it. And it takes more than an idea to succeed. Multiple people may have the same idea but the person that ultimately succeeds is the one that has the resources to pull it off.</p><p id="eac6">The rich get excited about markets. Don’t seek ideas. Seek markets. In this context, a market is a group of people willing and able to pay for a service (that they want) but can’t find it.</p><p id="d344" type="7">A market is a group of people who have money to pay for something they want but can’t find it</p><p id="2aea">If you hunt for markets, you will make money in the present. Ideas are just a future mirage that may or may not happen. A market however is something you can see with your eyes in the present. The people have the money to pay. They want the service. But for some reason, the service is unavailable.</p><p id="f2a9">That is the golden opportunity the rich jump on. That is what they get excited about. This is what they hunt for. They don’t care about futuristic ideas. They are excited to find markets.</p><h1 id="38b8">Conclusion</h1><p id="59d3">Rich people don’t get excited over a business idea. They get excited about a market. Everybody has an idea. You can have a very good idea and still be poor. But you can’t find a good market and stay poor.</p><p id="4aaf">You will struggle to raise money for your idea. But if you talk about a market you discovered, you will raise money fast. Don’t think of ideas, look for markets.</p><p id="cca5">Cheers.</p><blockquote id="073d"><p>P.S. If you are a working-class who is also investing in the stock market, check out <a href="http://richculture.co/">richculture.co</a></p></blockquote></article></body>

Rich People Don’t Get Excited Over a Business Idea

This is what they get excited about

Ideas don’t make people rich. I used to think the secret of success was ideas. The thinking was that if you have a really good idea, you can become rich. I thought I had to think to grow rich. Turns out to be not quite true. In fact, ideas often make people poor.

Ideas Make People Poor?

Have you ever heard the saying, “If it is not broken, don’t fix it”? That is a very great piece of advice. Do you know why people try to fix what is not broken? You got it — they have an idea.

Countless things have been ruined by people fixing what is not broken. This reminds me of the changes in some apps. I saw someone complaining about the recent changes in Slack. It’s funny because the app is no longer working on one of my devices.

The same could be said of Meta’s WhatsApp where they are now trying to incorporate broadcast channels into WhatsApp. It could work and possibly result in growth (for both Slack and WhatsApp), but there is a high chance that the opposite will happen (at least for a while). And this is because the companies are busy fixing what is not broken.

I know rich people who hate new ideas. Think about Henry Ford with the Model T car. He ran with that old idea of a car for as long as possible. He fended off new ideas for a long time until he couldn’t anymore. And he did for a good reason — you have to start all over again when you want to monetize a new idea.

So, if you have an old idea that is working and creating huge results, don’t be quick to change it. In fact, don’t change it until data suggests otherwise. Don’t try to copy what other people are doing. Just stick to the old idea and become a master at it.

New ideas just make you bleed money. If an old idea is working great, you never change it. This is how the rich behave.

All the Money is in the Present

Rich people don’t think about future money. Future money is a guess. You are assuming. You don’t know how things will be in the future. Sales projections are nothing but guesses.

All the money is in the present. You don’t think of how to get money in the future. You think of how to get money today. You think today.

Now is where the action is. An idea is all about the promise of making money in the future. And there are many people who are stuck because of that. The prospect of making money in the future is getting them excited. Not bad, but the rich take it steps further.

The rich are not excited about the prospect of making money in the future. They are excited when they get money now. They are excited when they see money now. The “now” money is the one that can enter your bank account. That is the one you can put in your books.

Be less excited about the prospects of making money in the future. Instead, focus on the now.

What the Rich Gets Excited About

The rich don’t get excited about an idea. Ideas fail. And you don’t know what is going to work until you try it. And it takes more than an idea to succeed. Multiple people may have the same idea but the person that ultimately succeeds is the one that has the resources to pull it off.

The rich get excited about markets. Don’t seek ideas. Seek markets. In this context, a market is a group of people willing and able to pay for a service (that they want) but can’t find it.

A market is a group of people who have money to pay for something they want but can’t find it

If you hunt for markets, you will make money in the present. Ideas are just a future mirage that may or may not happen. A market however is something you can see with your eyes in the present. The people have the money to pay. They want the service. But for some reason, the service is unavailable.

That is the golden opportunity the rich jump on. That is what they get excited about. This is what they hunt for. They don’t care about futuristic ideas. They are excited to find markets.

Conclusion

Rich people don’t get excited over a business idea. They get excited about a market. Everybody has an idea. You can have a very good idea and still be poor. But you can’t find a good market and stay poor.

You will struggle to raise money for your idea. But if you talk about a market you discovered, you will raise money fast. Don’t think of ideas, look for markets.

Cheers.

P.S. If you are a working-class who is also investing in the stock market, check out richculture.co