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Getting Rich Is Simple: The Truth About Money

  • SUW 

When I was in university, struggling through pre-med classes, I was a jealous, naïve young man.

I used to follow a bunch of sports teams and leagues; the NBA, NHL, MLB you name it. It was my guilty pleasure watching my favourite teams.

So I would get notifications on my phone when my favourite team would sign a player. 

The numbers made me cringe. $40 million a year for playing basketball?! $11 million a year for a hockey player?! I love playing basketball and road hockey, I’m not getting paid. What the hell!

Then as I got into educating myself about money, I understood an often overlooked, yet simple and important concept:

Money= Value

Value= Solving Problems

It really is that simple.

You get paid for the value you bring in the marketplace.

Sure, I can set up a business where people will have to pay to come watch me play basketball or hockey with my friends on the weekend. It would fail miserably and rightfully so. Simple because I am not good enough at hockey or basketball.

The market doesn’t care to see that. When I was a medical student, I didn’t make any money, in fact I had to pay a ton of money to learn a valuable skillset.

As a resident physician, I got paid a little bit because I knew enough to manage simple medical things on my own, but not as much as a staff physician, so I didn’t get paid like a staff physician. 

If you are broke or not making money you’d be happy with, it is because you are simply not valuable. Hurts to hear but it is the truth.

Of course, as human beings, we are all equally valuable and deserve to be treated that way. But in the marketplace, we are not all equally valuable and the market is the one who decides how much we are worth.

LeBron James can make $40 million a year playing basketball because he brings enough eyes and attention to the team he plays for, that it justifies them paying him so much.

I could make 300-500k a year as a physician because the market decides that’s what my services are worth.

It took learning this tough lesson to understand that the path I was on would not bring me wealth I desired. I would have to build businesses that the market finds valuable and invest in valuable assets to get to where I wanted to go.

You are tasked with the same thing.

You have to be honest with yourself and decide what you are naturally good at, and how you can improve on it to provide value to the market.

The more value you provide to others, and the more problems you solve for them, the more comes back to you in the form of money.

The ideal is when what you are good at is what you enjoy and what the market is willing to pay for. This comes with time, experimentation and adjusting along the way.

You won’t know until you taste and try things. Pursue your desired skillsets and curiosities in the form of providing value to the marketplace whether through a job or creating your own business.

Do you nerd out about basketball but you’re 5’8 with no hops? Build a YouTube channel analyzing games or a coaching business for local teams.

Are you a big coding geek? Get in touch with a business in your niche of interest and build them an app that makes things more efficient for them.

You need to find a combination of the natural proclivities you have, what you are willing to learn and improve on and how you can package that up as a product or service for the market to pay you for.

Don’t be angry and upset. If you are not making the money you desire, you are not providing enough value to the market in the way it wants it.

Learn, improve, adjust and keep going.

The more problems you solve, the complexity of those problems, the scale at which you can solve them, the more you get paid.

Remember, the value you provide is the value you get back.

Solve people’s problems, take away their pain, and they will pay you.

The examples are all around you.

Cheers

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