ASSETS THAT MAKE YOU RICH : So today we will learn amazing lessons from the book Alumni Like Naval Ravikant written by Eric Jordanson. So, before we start, let us see who Naval Ravikant is. Naval was born in Delhi in 1974. He was brought up only by his mother.
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At the age of 9, Naval was raised by his mother and his younger brother Kamal, all of them in New York Queens. Naval, who has shifted, says that there have been many difficulties in his life, but every family has a story and everyone has to go through some difficulty and later on, it is this difficulty that becomes the reason for moving ahead in our life.
ASSETS THAT MAKE YOU RICH
Naval and His family was very poor, when they shifted to New York, they lived in a place which was not very safe. Naval was very shy in his childhood and hence he would go to the library after school and stay there until the library was closed.
And only after that he would come home. Nawal says that from the book he read the thoughts of the greatest people of the last century and did his transportation. At the age of 15, he wrote Indian Food Bacha, then you will also serve utensils in the cafeteria.
As an immigrant, his family survives in that. Now because Naval used to pay a lot of attention in studies, hence his admission will be in high school and it was a very famous school of New York and this will change the life of Naval.
He says that it happened to his mother that I was blue. Shifted from collar to straight white color category. Once Stabi’s School got linked with Multi Level, he also got admission in college where he learned about Tech.
After completing his studies, Naval did a lot of business in his life. And started investing forms like at the age of 25 he founded a company named Pinions and became its CEO, then at the age of 27 he became a venture partner in August Capital, at the age of 29 he became the founder of vast.com, at the age of 32 he became the founder of Hit Fauji VC Fund. Khol launched Engine List at the age of 34.
Sameer above invested in 200 companies and was named Angel Investor of the Year at the age of 43. Otherwise Naval says that I was born poor but I am happy that I worked hard and got a Naval has become a millennium and says that I learned some principles in my life which will hopefully inspire many people and they will also be able to improve their lives,
so among these many principles, the first principle Naval learned in his life was You Can Get.
Fridge Without Getting Lucky Nawal says that making money is a scale and not our identity. He also says that if you take away my money from me for a year now and leave me in an English speaking country, I will earn a maximum of 5 In 10 years I will be where I am now because making money is a scale like cooking and fortunately I have learned this skill set which you can also learn.
ASSETS THAT MAKE YOU RICH
Money is not made just by hard work if you work in a restaurant where you You can give 80 art every week but still after next 10 years you will not be able to become rich. Obviously hard work is required but step one says that if hard work is not done in right direction then nothing will be achieved so now obviously now
This question might be coming in your mind that then what should we say that if our hard work is in the right direction then any hard work should satisfy these 3 points one, always run after wealth and not after money. Wealth means that You have to create your assets which will make you money. Even when you are sleeping, many people must be thinking this, friend, is this wealth exactly?
Wealth can be a factory, it can be a robot or it can be a computer program. It may be the one that keeps running all night and serving the customers and the wealth may be the money in our bank account which we are wasting in business or buying acid and it may be some property which brings rental income. The condition is that we cannot become rich by selling our time, we will have to give the committee something that it needs and that too with scalability, that is, a product or service that can be given to many people.
For example, Elon Musk says that if you A product that can provide a lot of value in the lives of a few people will be as useful as a product that brings little improvement in the lives of people but is useful to many people because the area of both is the same. Condition 3 will be learn the scale of selling and learn the scale of making product and if you become good at both things then you will become unstoppable. The next principle that Naval wants to share with us is Wealth is created by equity and not by selling.
One way to become rich in time is to have some portion of the business, like whenever new startups are formed, they generally give some percentage of the business to their first few employees, in addition to the salary and when these businesses become successful, Along with the founders, the employees who had equity in the business also become rich, like recently when Zomato’s IPO happened, many of their employees had shops,
that is, they had some equity in the company, due to which more than 18 people Millennium became like co-founder Deependra Goyal’s net worth became Rs 40000 to 50 crores, technical officer Gunjan P.Ratidar’s Ka made Rs 363 crore, Mohit Gupta’s 193 Karo Aur So An I Hope You Got The Idea Naval says that if we do not have ownership of the business, then our income becomes exactly proportionate to our input, even if you are a lawyer. Or why not be a doctor?
Without ownership, when we are on vacation, we will not be doing anything else. When we retire, we will not feel like doing it, and thus we will not be able to become a welder. The next principle says, Understand Compounding. Compounding is just for money. For example, Nawal says that I like working with Dil very much and that is because I have done a lot of deals with them and every Whenever we do a deal, he always thinks that why should he pay the fee himself for my benefit and even after paying the fee, he does not tell me this and has done this so many times that due to this compounding effect.
I refer him in every deal and I also try to benefit him also. Similarly, we should also invest in our knowledge and our mentors because one idea keeps getting billed at the same time, so if you have more than 1000 mentors. If you want to learn from then you can download the legal application where you can also book and listen to the book summary in Hindi. If you want to invest in your knowledge then you can do it with 100 coupon code and get hundred You can do this with Rupees.
This application is available in both Android and iOS. If you are interested in this application then we will give its link in the description and first comment. The next principle General wants to share with us is Find and Build Specific Knowledge. Skills should be built which are valuable for example sales skin i.e. marketing things and selling them is a specific knowledge.
If we are good at making products then you need someone who has the scale to sell because to become wealthy you need to have your The product will have to reach many people. For example, Steve Jobs and his team knew that people wanted smartphones, so they found the best engineers who could create this awesome product and after that they also found the best salesmen. Not only this, they were very good.
And that’s why Apple was a company which was started in a garage. Today its market capitalization is 2.1 trillion dollars. For comparison, India’s GDP is around 2.6 trillion dollars. Now what can I say beyond this, you yourself are intelligent, you always know many people. You may be wondering whether specific knowledge means that if we learn the latest technology then we call it Naval. It is not so. We get specific knowledge from our passion. The next principle says that intentions do not matter.
Actions are needed to achieve wealth in life. There are thousands of people who talk about massive action but very few who do it, that is why execution is important and valuable. If you can say something and execute it, then you can do anything. There are many things in China where you can take action, that is the music talents of sales.
Apart from the talent of playing any musical instrument, writing books, coding i.e. programming, recording podcasts on YouTube is also such a scale with which you can bring your work in front of the world, so friends, in this Article we have learned the principles from the life experience of Naval Ravikant in which a lot of Some included such as One You Can Get Rich Without Getting Lucky in which we saw that money making is a scale and it can be learned.
Next principle is that wealth is created by equity and not by selling time i.e. wealth is not created by sewing time. Therefore, if we want to become wealthy through this business, then we can take equity in the business by making the first employee who can create wealth for us. In this we saw the example of Zomato.
The next principle was understand compounding in which we saw that compounding is only money. It is not only in me but also in relationship and knowledge, hence we should always be in learning mode to increase our knowledge in which we also talked about Google Application.
The next principle says that find and build specific knowledge. If we develop such skill Which is IR replaceable so this will be the best way to create wealth Building products and selling are two valuable skills so have the next principle says intentions do not matter actions so that means believe in action not idea in history everyone has but winner Take Action Friends, if you feel that the Article can be useful to any friend or family member, then you must share the Article with them.
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