Money is money. Our great-grandparents might not have had polymer banknotes or contactless card payments, but the concept has always been the same.
Now, what has changed is HOW we make money – and more interestingly for us, how we get rich!
So, today we’ll look at how things have changed and how people are getting rich in 2021.
I’ve always been a believer in studying those who have succeeded to learn how I can do the same. That’s why I read Forbes – the American business magazine that features an annual World’s Billionaires List.
Now, I don’t have dreams of making it onto the list (one day at a time!) but reading resources like this can lead to some eye-opening realisations that can change the way you think about money, business and success.
One interesting thing I noticed from reading the latest list is how modern billionaires have made, or are making, their incredible wealth.
The big shift
I know our lifestyles, jobs, ideals etc. have changed drastically in the last several decades, but you only have to go back 20 years to see how much the wealth-building landscape has changed.
Think back to the turn of the century – we were terrified of the millennium bug, excited by the Sydney Olympics, and singing along to Destiny’s Child’s ‘Independent Woman’.
Back in the world of Billionaires, real estate and oil were the dominant sources of money for the world’s richest people – and were for many years before that.
Now, fast forward 10 years – the iPad has just come out, Lady Gaga was making meat fashionable, and we were all dealing with the disappointment of the Lost finale.
Things are starting to change on the Forbes Billionaires List. People are still getting rich from real estate and investing, but less so, and oil is slipping.
This year’s rich list has seen a huge shift.
In 2021, out of the top 50 richest people, NO ONE made their wealth from investing or oil and just two found their success in real estate. The other 48 got seriously rich from starting their own company.
How do people get so rich from creating a business out of nothing?
It’s all in something called exponential growth.
Let’s say you’re starting your Amazon business today with $1000. You use the money to buy stock or advertising, and soon enough you sell all your stock and you’ve made $2000.
You reinvest that $2000 and in no time at all you’ve got $4000, then this turns into $8000 and before you know it, your name is in Forbes!
Okay, this is a ridiculously simplistic example, but it demonstrates how entrepreneurs scale their businesses to make virtually limitless amounts of money.
Now that must get an Amazon seller and entrepreneur like you pretty excited!
Thanks for reading guys and gals 🙂