Set Yourself Up For Greatness.
When You Don’t Know What Will Work, Do More.
Always pursue the things you know, that if successful, will make you wealthy, mighty, and great — because often, they work.
Never be complicit in the execution of any idea. Don’t be complacent. You must learn to exhaust all your ideas, especially when wealth is involved. While planning is crucial in the realm of wealth and investments, one thing most people don’t realize is that you never know which of your plans or ideas will be the jackpot. Why? Because time, economic conditions, market size, competition, and countless other factors can significantly impact even the most credible investments. You just never know.
This is why some of the best opportunities to establish stable, revenue-generating assets, companies, and businesses come from trying them in the first place — and trying many ideas while sticking with them as much as possible without jumping around. It takes a certain intelligence to understand this. Many people ask whether it’s fine to do many things at once, and it takes wisdom to answer. So let’s put it this way:
Of the many ideas you’ll have that could become great and successful, it’s very hard to pinpoint which one will truly work and work in such a way that it sets you up for life. Sometimes, you have to put beans on the fire with the hope of making porridge, only to discover late at night that the red oil is exhausted, so you turn to noodles to survive the night. Then, while the noodles are on fire, the gas runs out, and just as you’re about to boil an egg, you remember there’s bread in the fridge. You grab that, add some butter, and wash it down with a bottle of Coke.
That’s how executing many ideas works. Notice that all the options were viable. While some might say the chef should have prepared his cooking materials in advance, that’s exactly how business is — not everything will be available when you need it. Often, you’ll have to make do on the fly. Sometimes you have capital but face huge competition. Other times, you have no capital but a great idea, no competition, and a strong drive for execution. Sometimes, everything is in place, and then the gas cooker breaks and the power goes out. It’s that crazy — just ask any successful or wealthy individual.
So what do you do? You execute all viable options based on necessity. If it’s not of premium necessity, don’t execute. If it is, DO!
Eventually, these efforts will catch up and become the source of your vast investment returns, perhaps forming the base of your large holdings.
Before and during execution, keep these in mind:
- Don’t execute just for the fun of it; it often ends in loss and pain.
- Study the industry and product essentials well, even if it’s by mere observation, before jumping in.
- I’m a big fan of acquiring as much knowledge about building businesses and managing wealth before stepping in to play the game.
- Execute all your ideas — there’s no harm in doing so. The more you do, the more you spread your chances of getting lucky, and the better you understand the strengths and weaknesses of your ideas.
- Have fun building; it may turn out to be a 95–5 failure-to-success ratio, but that 5% will always set you up for greatness.
