We spend a lot of time on YWB discovering and publishing ideas about making money. We share strategies for earning an income, tools for generating traffic and tactics for making the most of social media.
We are here to give other young entrepreneurs some direction to set-up a business or make the most of their career.
We offer what we can and we hope our members find some value from this website.
What we don’t say however is we will help you to get rich and here is the reason why.
The co-founders of YWB have a combined total of over 30 years experience with testing entrepreneurial activities.
From this 30 years has come a very clear view that getting rich per se is 90% luck and 10% great idea and execution.
Now, we are not talking here about running a successful business, which requires a much lesser degree of luck.
This 90%/10% rule relates to “getting rich quick”.
Now, many “Get Rich Quick” books will tell you that “getting rich”, is in fact about “10% luck” and 90% “idea and execution.
But think about it!
Lets says, “getting rich quick” means returning you a bonus or fee or payment for your shares of say £3 million within 3 years of starting your business. In other words, by the end of the 3 years you have a total amount of money in your bank account of £3 million (after tax).
Now, think about it? What could you possibly do to make this happen from the very start of your business? Sure, you may have some vague notion of how you’d like to get rich quick, but its only really a vague notion. Which is why the vast majority of people never really get rich quick in the end. They were never really able to know at the beginning of the project that they would really get rich quick. If they did get rich within that time, it was primarily because they got lucky somehow.
Maybe they got rich because some other company wanted what they were manufacturing and they had the right product in the right place at the right time.
Maybe they produced a feature that everyone wanted and they were lucky to be the only company supplying that feature at that time.
Maybe they hooked up with the right marketer who just so happened to know a customer who wanted to purchase the company product in huge orders and at huge profit.
Maybe they decided to turn their failing services business into a product brand and were lucky enough to find a distributor at the right time at the right place.
So, you see, most everything about getting rich is luck and no get rich book can ever really tell you how to do that.
Truth is, most successful people burn through dozens of failed projects before they hit a real gem and when they do, it really is 90% luck and a lot of determination.
All the best