How To Make A Lot Of Money #WednesdayWithWyan

There is no system, there is no hack, there is no step by step process. Except for this.

Hey capitalists, it's time to crack open your favorite beverage. I like Zevia. This is Wednesday with Wyan on capitalism dot com.

Hey everybody, welcome to the show. So you want to make a lot of money? Well, aren't you in for a treat? Come on in, grab a beverage. We're going to talk about exactly how to make a lot of money. Grab a seat. Let's have some fun.

So let me tell you a quick story that happened today. This morning I was at breakfast with a new friend, a new contact here in town, someone who is absurdly wealthy, someone who has, has made a tremendous amount of money. And to back up just a hair, when I was a kid, I remember driving around the neighborhood with my mom and my mom had this phrase that she would say, we'd look at the really nice houses around town and she would say, ryan, this is how the other half lives. Don't you just want to knock on their door and find out what they do for a living? And because of that experience of that question of how do these people make a lot of money? I've become really fascinated and all the always was really fascinated with the question of how do people make a lot of money? And I was sitting down at breakfast this morning speaking with this new friend in town and the interesting thing about his story is that he didn't seek getting rich. He sought passive income to out earn his job. He still worked his full time job, which to be fair, made him a few hundred thousand dollars a year. But the goal was never to qu quit his job. It was to have freedom, to be a choice, to choose whether or not he wanted to go to his job. And he chose to because it was his life's calling, it was his mission. And so this is the first thing that I want to say to you if you're seeking making a lot of money. We've interviewed capitalists across the board making a million dollars, making $100 million on the capitalism.com podcast. And all of them were driven towards something. All of them were driven to create something, to build something, to pursue something with their lives. And when I'm working with new entrepreneurs or people who are seeking money, the first big realization that we give them is if you seek the money, you end up operating with this extraction mentality of how much can I get, how much can I pull from the world and put into my pocket? And the fact of the matter is, if you pursue value, if you Pursue what other people want. You end up getting a lot of money. And we're going to go into how to do exactly that right now. Naval Ravikant is a famous entrepreneur and investor. He was the founder of the company Angellist, which is an organization that basically brings together people who want to invest in new companies. And Naval said something really insightful about getting rich and making a lot of money. And he said that if you want to make a disproportionate amount of money, then the first step is you have to own something. You have to own the thing that is is being produced in the world. It's rare that you get rich by not owning something. So whether that means starting your own company or whether that means taking the money from the job that you're working and buying things that you own, like stocks and real estate or baseball cards that you flip or putting it into a side hustle, the first thing is that you have to own something. You have to own the production or the resources or the business. You have to have a stake in the upside of something. Now, the other side of this, though, is that means that there's inherent risk, there's always risk to owning something. It can go down in value, it can go out of business. But the way that you get the upside is through the ownership, is by having the ownership. This is kind of a theme of life, by the way. If you do not take ownership, ownership, if you don't claim something as yours, nothing ever changes. You don't get any upside, you don't get any downside. There is no ability to make any change without first taking ownership. If you want to make a lot of money, you first have to take ownership, that you are the only person responsible for creating those results. And as a result, you must own something that has the potential to go down in value or up in value. If you start a business.

It might fail. If you buy a stock, it might go down or go out of business. If you buy a house, if you invest in real estate, it might lose value, and it also might go up. And you know, what is the difference between if something goes down in value versus going up in value?

From a mindset perspective, it starts with the owner saying, from this place, from this responsibility that I have been given, I will now create something that is of value to other people. You see many people who want to make a lot of money buy into the illusion that there is some sort of system, some sort of outside idea that if I plug into this river of money, it will then pay me Dividends. What's the system? What's the step by step process for me to be able to do something that pays me more money than anything else? And that's the wrong question. You see, money is simply a representation of attention and value. We're human beings who are trading with one another all the time. And the way that you make a lot of money is by creating something that is of disproportionate value to other people so that they want to pay for it. Now, that can take a lot of different forms. It can look like buying real estate that other people want to rent out. It can look like starting a business. It can look like. Look like buying enough stock over time that you're getting enough dividends that are being paid to you and going up in value to where you get rich and you make a lot of money. These are all different strategies. And we have all kinds of content and podcasts that you can listen to or watch that'll show you how to do any single one of those. But first, you must own something and take responsibility for it and take responsibility for creating something, creating new value for other people. Which is why the third piece, the third leg of the stool, is to always be serving, is to always be contributing to other people. You see, there's this misconception among a lot of people, especially when they start looking for money. They see people as the barrier to the money. Like, I'm here, this person has the money, I got to get through the person in order to get the money to come to me. That's not how it works. The world does not reward that. What the world rewards is service to one another, creating things that are of value to other people. And as a result, other people voluntarily want to pay for that thing. There is no system, there is no hack, there is no step by step process except for this. Strategically position yourself to be always in the position of creating value in service to other people. If you want to make a lot of money, the way that you operate in service to other people is, is to look at what they're paying attention to in the form of their time, their resources, and their dollars. And you go create for where that attention is. You go create a product, you go create a service, you go create an opportunity, you go create content, you create value, you create connection, you create relationships, you create for people. That's how you act in service to other people, and you're rewarded in the form of money. You see, most people operate from this place of they think that there's some magical Step by step process that if I do this, I will be paid. But at one of our recent events called the Capitalism Conference, I gave a full keynote that was about how value is unique. And we pay for things that are unique, we pay for things that are new. And it's a mistake to try to reverse engineer and do exactly what somebody else did to make a lot of money. You really make a lot of money by doing what is unique to you, unique to your skillset, unique to the needs of the people around you. And I want you to to watch this clip right now.

Your greatness doesn't come from a system.

That you apply or a path that you follow. It's innate to you.

When you're so clear.

When you're so.

In tune with what that is and not like finding some outside purpose, but the thing that you wanted to do anyway, the thing, thing that you would do just because, like, you got into business because you wanted to do this thing. When you are in tune with that.

That'S your greatest shot. That's how you make it.

When you know what that is.

Because you're quiet, because you're in tune, and because you just do it anyway. That's when you create a life you actually love.

And the crazy thing is, it's actually.

When you create the biggest business you've ever had. And that is when all of the stuff that we spend so much energy trying to learn and trying to figure out just becomes the thing that makes that even better. And that is when we start surrounding ourselves with team members and with partners who help amplify and bring the the world what it is that we want to do.

That's when it all comes together.

That's how you build the life that you want. That's how you change your family and your community. That's how you actually create the ripple effects that matter. Because this world doesn't need you to reverse engineer some system. It needs you to be completely lit up. It needs you to actually be free. Because that is how you create the life that you want for yourself, for everyone around you. And that is how you change the world.

Let me give you a quick example of how this plays out in the real world.

I work with a lot of entrepreneurs who are Internet entrepreneurs, who are building brands, who are product creators. And in our little circle, we're always fascinated with businesses that were built and sold. So if we look at a couple case studies from the last few years, one of my favorites is RXBar. RXBar was a company that was developed for CrossFitters. And then they were acquired four years later by Kellogg's for $600 million. What's interesting about this is the founder, whose name is Peter, made this bar for his buddies that did CrossFit. In his little tiny world, he was operating in service, creating something new for the people that he was around. And he owned the company. So he owned something. He created something out of what he owned that was of service to his immediate surroundings. And guess what the byproduct of that was $600 million. That was the byproduct of Peter's work. But what's interesting is that two competitors were acquired in the same time frame. Quest Nutrition, started by my buddy Tom said, man, I wish there was a protein bar for people who are eating keto or low carb, because that's who he was. So we started the Quest Bar. He owned something. He created something for himself and people like him. That was what he did. And guess what happened a few years later? He sold that company for a billion dollars. And the same week that Quest Nutrition was bought, a competitor was acquired called One Bar, Almost the exact same product. A competitor to Quest Bar sold the same week as quest for $400 million to Kellogg's. You see, the way you make a lot of money is to own something, to create something that is in service to other people. That's how I made my money. It's how a lot of our students make their money. By creating a new product, creating a new idea, bringing it to life for a very specific group of people and allowing other people to pay for it. Customers, and eventually somebody else who wants to buy that business from you. That's the way that you make a lot of money.

So to bring this home, people think that money is a fixed game. This is a big mistake that people make, and it keeps them poor. This idea that there's a fixed pie and that there's only so much money in the world, there's almost only so much value in the world. And I've got to find out what the routes are into the pie for me to bring it into my pocket. That's the mistake. That's the fallacy. You see, more money is more of an idea than anything else. It's just the way that we trade. It's the way that we focus our attention. The truth is that when you create something that is of value and of service to other people, other people want to pay attention to it, and they vote for it in the form of their dollars. So for you to get the biggest amount of money possible. You have to own and create something. That doesn't mean that you need to start it from scratch. It could mean that you invest in something either way. But regardless of what route feels best to you, you don't get rich by trading your hours for dollars. You do it by having an ownership stake in something either as your full time thing, which is called capitalism and entrepreneurship, or as your side thing where you take the money that you earn from your job or your business and you put put that into other things that you do own a part of. And that's called being an investor. Those are the routes to make a lot of money. If you want help with this, subscribe to the channel. We go into all kinds of detail on this and you can also click the link below to opt into a free report so that you can start doing this for yourself. But you only get rich by owning something and creating things that are of value to other people. That is why you spend your life creating for others by looking at what other people need, by paying attention to what they're paying attention to and to create things that service where their attention is going. That's how you make a lot of money. Do that for long enough and you end up getting rich. Hey, thanks for watching the show. We'd love to hear your thoughts thoughts in the comments. As always, please subscribe to the channel for more and I appreciate every like comment and share that you consistently make on these videos. Thanks for watching and we'll see you next time.

Before you go, I want to leave you with a new resource that we have@capitalism.com that is a short PDF and a new audio training that will help you outline what products you should be selling, what makes a good product to sell, what's the right product for you? How do you roll it out? What secondary and thirdiery products should you release around that? There's a guide over@capitalism.com start that will answer these questions for you and a short training as well as seven markets that I like right now. When you go through that, you'll have ideas for new businesses you can start and new products that you can either launch or add into your existing business. So go over to capitalism.com start, enter your best email address and I'll shoot that guide and that audio training over for you so that you can build the business that you want, knowing full well that it will be successful. And when you do, I hope you enjoy it as much much as I enjoyed making it for you.