July 8, 2016 6:22:02 pm
I must admit that money is one of my most favourite subjects. I love reading about it, learning about it, talking about it and writing about it. I am so fascinated by the money matters that three out of the five books I have written so far revolve around the subject of money.
After years of research, I strongly feel we are never really taught money the way we should have been. There are just two types of money issues – too much money or too little. Design your life in such a way that you have more money at the end of the month rather than more month at the end of the money. We can all learn a lot from the self-made billionaires when it comes to the subject of money.
Money is a matter of the class you belong to.
When I say money is a matter of class you belong to, does not mean that you need to be fair-skinned or belong to a particular community, etc. It simply means the mindset you adopt in life. Some of the ideas that I will share will disturb you because it might negate years of conditioning. Feel free to reject my ideas, but do so only after careful evaluation.
Subscriber Only Stories
Have you ever wondered why more than 96 per cent of world’s wealth is concentrated in the hands of just 1 per cent of the population? Do you think these billionaires know something that is never shared with the masses? I think it makes perfect sense to believe that they have conquered the extreme wealth formula. Most of them are self-made billionaires and started their careers like most of us. Some of them did not even get the quality education we got, and yet, they beat us hands down when it comes to the game of money.
All I want to suggest through this article is to understand the category you belong to and see if you would like to change anything if you are not happy with the money you have.
1. Consumer: These people generally spend a lot of money on entertainment and try to follow fashion. They may not have real wealth or assets but they will spend a lot of money in trying to look good. Whatever they earn they spend on necessities and watching sports, movies, buying latest gadgets and cars. They are always paying money for the experience they want. The money they spend flows into the pockets of the creators who then pay the contributors for the support provided. They never create anything that sells because they do not think they can do that. They are very important part of the economy but they never become ultra-rich because they never bothered to figure out the money secrets. Every time you pay for a movie ticket, a rock concert, or a sports match you act like a consumer. These people are so busy watching others perform that they never got time to figure out their performance potential. If attending a rock concert as an audience is your biggest life goal, then you will never be on stage. Follow a celebrity and you will never become one.
2. Contributor: These people are the backstage people. They help creators perform in front of the consumers, and provide support throughout the entire value chain. They work closely with the creators, or the entrepreneurs, but are not the owners of the system. They get to observe everything and are key people of the ‘king’ if not ‘king-makers’. They know all the nuances of the system and never pay to watch the creators perform. They get paid for the support they give. Employees in an organisation are contributors in the success of the entrepreneurs. They get paid for making someone rich. The owner of the business may or may not be smarter than them. Likewise, the manager who manages the celebrity’s contracts is also a contributor. They know that creators are not necessarily the smartest people, but they are rich because they own the system. They get money for their efforts but they never become famous.
3. Creators: They are the performers or the people who make the performers perform. They do not get impressed by celebrities because they know that they can either be a fan or a celebrity. They work for years in building a personal image, business brand, a corporate entity or an artist’s reputation. Once the image has been created, they encash it by taking their performance to the masses. They are always busy performing themselves or creating a system. They watch others only for learning and not for entertainment. They get all the money and the fame. Their work is cumulative in nature and it grows with every creation.
If you want to maximise the money in your bank account then work to be a creator.
An entrepreneur is a creator, an employee is a contributor while a client is a consumer. A pop star is a creator, his staff are the contributors and the spectators are the consumers.
A movie star and the producer are the creators, while the staff on the set are the contributors, while the movie watchers are the consumers.
There is nothing good or bad about belonging to particular class as it is a matter of personal choice. However, the game of money has some rules and they always favour the creator. The self-made billionaires always belong to the creator category. Once they have enough resources they do not mind being consumers or contributors.
Thus, in order to become a self-made billionaire, start by thinking like one.
📣 Join our Telegram channel (The Indian Express) for the latest news and updates