||: Introduction :||
Easily accessed through the internet, many people would hear certain advice from famous entrepreneurs some basic insights on how they manage to become "successful". For normies, the lifestyle seems like a dream to be able to afford the many luxuries due to managing businesses if not through other means (such as side hustles). These people's lives ironically become appealing to many people (myself included) because the basic costs of living expenses are increasingly getting more difficult. With the desire to look rich, or the motivation to keep a roof over their head, many people might research entrepreneurship due to realizing that working mundane 9-5 jobs is barely considered enough to get by these days due to minimal pay, being overworked, or poor treatment from coworkers.
Through this blog article, I will express my opinions on some of the well-known tips provided by famous billionaires, or financial gurus. Success comes in different forms for most people, but this blog article aims to discuss advice from the people most people in society look up to. Feel free to express your own opinions if you disagree with my thought process.
||: Hustle while others rest :||
One of the first tips provided involves the encouragement of "working hard now, so you could retire young." The general meaning of this tip is to encourage people to work hard in the present day, even to the point of working while other people would be sleeping or partying, as the main motivation for working is to enjoy retirement with the accumulated money you gained through your hard work.
Personally, I do not agree with the idea of working basically non-stop. For the most part, people who aim to work with this mindset would set themselves up for misery and tiredness. People would be most prone to burnout, and lack of socializing due to turning down invitations for the sake of a consistent work schedule. People who take this advice should ideally enjoy the product of their hard work, but I personally prefer to enjoy the process of my work rather than enjoying life at the end.
Generally speaking, I do not agree with this advice as success to me comes from enjoying what you do for a living instead of working yourself until you only enjoy the end of the work-life.
||: Have multiple incomes :||
In this day and age, the appeal of having multiple incomes for most people would be beneficial as minimum wage jobs do not match up to the steady increase of inflation around the world. Most entrepreneurs recommend people have multiple methods to make money through main hustles, side hustles, and passive incomes (in order from the safest form of income to the riskiest form of income in my opinion).
Main hustles would include active jobs in the workplace, such as employment of your choice, or starting a business and becoming your own boss (safer played as a side hustle)
-Examples would include Retail, Hospitality, or any job people are actively hiring.
Side hustles would include starting a business until the income surpasses the employment income, or doing paid volunteer jobs that give you the freedom of a flexible schedule.
-Examples would be jobs like Uber or Menulog delivery drivers or busking for the musically inclined or performing individuals.
Passive incomes would involve minimal effort, while still getting paid.
-Examples would include investing in the stock market, cryptocurrency, the lottery, or investing in a vending machine.
Personally, I agree with this advice as multiple methods of payment would be able to help people if any income stream fails. For example, if you ended up losing money from investing, you can make up for it through your main and side hustles. People who are aiming to be financially stable or become rich should aim to put in the work as long as they are motivated and interested in the income streams. It would be beneficial for people to gain income based on what they are more familiar with as they could risk losing more money than gaining money. To avoid this, it would be preferred to reach out to friends or coworkers who know more about uncertain methods such as investing as it has the most risk. Overall, having different forms of payments requires more work, or more knowledge would provide a sense of security for the most part as you would have backed up and it gives people a chance to pursue their interests through active incomes, and possibly increase their networking through gaining knowledge of passive incomes.
||: Trust yourself :||
Another main tip provided involves "Trust yourself", which entails making decisions without doubting yourself as you know yourself more than anyone else, essentially taking a leap of faith to reach for the success that you want.
The basic idea encourages people to not base their opinions of their actions on other people's opinions and take risks that would more than likely increase their income theoretically based on their own knowledge and experience.
To some extent, I agree with this tip, but there are limits. I find that it is important to gain experience and learn from it, however, people should listen to other people who have more experience in related interests. Finding an ideal mentor should speed up the process of success, even if it means consulting your mentor before you act. If you have sufficient enough knowledge, then it would be nice to act upon your choices, while learning from the mistakes you make along the way. I think that experience is one of the best teachers to one who seeks to gain independence in a particular expertise. To trust yourself would benefit in gaining experience and learning from all of your choices, leading you to understand the best things to do or not to do when aiming for success, but ultimately it would be preferred to not be ignorant around people who would try to help, even if it looks like they are trying to make you doubt your overall abilities.
||: Luck :||
Many factors contribute to a person's success, but it seems that a certain amount of people manage to reach, what society deems as "success" as people see successful entrepreneurs to have billions of dollars, tireless work around their business, and being able to afford expensive luxuries. To the common folk, it looks like they had a great deal of luck on their side for them to become successful.
If you ask any entrepreneur, they would more than likely say that they do not entirely rely on luck, as they make their luck. These days, people would be on the luckier side if they were born into wealth instead of starting from being relatively broke.
Ultimately, I think some luck is involved when it comes to becoming successful in life, which contributes to one's success almost as much as working towards it. While it is important to work towards your success, luck comes into play when it comes to environmental factors. Such factors that contribute to successful people involve the resources you could use, support from your friends and family, or your ability to network with the right people. While many of these factors could come from your efforts, people are born and raised differently from other parts of the world. Luck is involved in challenging you to face these scenarios and providing you with the knowledge, experience, and resources that you were given throughout your life. Everyone is entitled to have their own experiences making them different from other people, which in my view allows people to perceive luck differently. Reach success, luck can be involved due to the resources given since birth, however, I would encourage people to understand their given resources to become successful in their own right, even if it does not look like the same success as famous billionaires.
||: Conclusion :||
The path to reaching success appears to be intimidating for the people who want the lives presented in the media, and it looks like it's easier for people who seem to be born into wealth, however, you can reach financial success if you work smart towards it instead of burning yourself out. The pieces of advice that I personally agree with involve getting different streams of income based on your own interests based on your own knowledge or experience, trusting your own judgments to gain experience while also learning from mentor figures, and using luck to your advantage to use your given resources while taking what you want through your own efforts.
The basic outlook on entrepreneurs is not as black and white as it seems, however, I would encourage people to look into their own strengths and interests and use their knowledge and perspectives to reach their own forms of success. If you compare your own lifestyle to other people's highlights you are more than likely to think that you would never reach success, much less if you blindly follow what other people say without thinking for yourself. By the end of the day, I believe that everyone can reach a form of success and it does not have to look like what society as a whole thinks success looks like.
Feel free to express your own perceptions of success in the comments or if you disagree with any of my opinions on this blog article.
||: Fin :||
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