You are not willing to pay the price. What are you willing to do that other people are not? Anyone can go to college. Anyone can get a job. Anyone can get a high paying job if they try hard enough. A college degree may help you make more money than someone without one, but it won’t help you make a lot of money. Reading books will not help. Many people like to read book, and they are not successful or rich.
I had a high paying job, but I didn’t even enjoy it, and I didn’t make that much money. If you make six figures, you are already in the top 10 percent. Depending on where you live, it’s not a lot. If you want to be in the top one percent, you have to do something different like start a business. But it’s not different enough to own businesses. You have to differentiate your business. You have to convince smart people to work for you. You have to have offer a unique product or value proposition. Businesses fail when they sell the same thing as everyone else.
What can you do different in your every-day life? Are you going to wake up at 5 AM every day and work for 12 hours? Work on weekends? Some people do that, but they still don’t make a lot of money. In a book The 5 AM Club, Robin Sharma says that waking up early makes you more productive. But does it make you more successful? Waking up early is easy. Anyone can do it. Many people wake up early are still not successful.
It’s not about what time you wake up, but what you do with your free time. You can’t do what everyone does and expect different results. Everyone likes to go out on weekends, relax, and watch Netflix. Successful people do not see the difference between working on a weekday and working on a weekend. You have to get things done, or you can keep your day job. It’s up to you.
Elon Musk said that one week he worked 120 hours. At the time Tesla was losing money and he may have felt like he had no choice. The fact is that he was already rich. He received $165 million when PayPal was sold to eBay in 2002. Once you start making a lot of money, you will always want more. Once you become successful, you will always be chasing success.
Another reason you are not making a lot of money is because you do not invest in yourself. Making 2% from a savings account will not have the same return as investing it in yourself and learning a high-income skill or starting a business that can make you millions. A savings account is a low-risk, low-reward strategy. Spending less money has the same effect. You can save a few dollars every month, but it’s not going to make you rich. Making more money is what’s going to make you rich.
Do you really want to make a lot of money, or do you want to be happy? Many successful people do not start out trying to make a lot of money, and many people who start out trying to make a lot of money do not become successful. You will be better off trying to do something that you like, and by surrounding yourself with positive people who will support what you are doing.
In a book “The Talent is Overrated,” Geoff Colvin says that successful people spend at least 10,000 hours working on their skill. Have you spent 10,000 hours on your business or your job? If you haven’t, then that’s why you are not making a lot of money.
Online gurus will tell you that you can take a shortcut and build a business empire in one month or one year, but there are no shortcuts in real life. There are only outliers, and outliers depend on luck. You don’t want to depend on luck. You have to put in the time to see results. It took me 5 years to build a business, and I’m still building it. If you do too much too soon, you are more likely to fail. 50% of businesses fail within 5 years. 70% fail within 10.
If you are not patient and give up too soon, you will not get want you want except by luck. Find something that you like to do, and spend 10,000 hours doing it. Be patient and trade instant gratification for long-term success. No one can defeat you if you are patient and relentless.