Want To Be Rich? Don’t Start A Business.

## Step 1: Discover Your Natural Talents

The phrase "follow your passion" often gets thrown around, but it can be problematic. What if your passion isn’t financially viable? Or worse, what if you don’t have a passion at all? Many people are preoccupied with finding a balance between happiness and financial stability, but focusing solely on passion can lead to disillusionment.

For example, I dreamed of becoming an RAF fighter pilot, but when I learned I needed glasses, that dream quickly faded. Instead of clinging to this unattainable goal, I redirected my focus toward building wealth. I believe that financial stability is a prerequisite for true happiness, as money issues can lead to a host of other problems.

Ray Dalio, founder of Bridgewater Associates, emphasizes the importance of identifying your strengths—what he refers to as "finding your game." I explored various ventures, from selling fish door-to-door to flipping cars and teaching model helicopter flying. These experiences helped me recognize my natural talent for sales and interpersonal communication. Focus on honing your skills in areas where you excel; this will provide a more solid foundation for your future.

## Step 2: Dedicate Yourself to Your Job

In today’s world, it’s trendy to talk about "escaping the matrix" or "quiet quitting." While I understand the sentiment behind this mindset, doing the bare minimum is counterproductive and will hinder your growth. The way you handle small tasks reflects how you’ll manage larger responsibilities in the future.

During my time as a carpenter, I faced days I didn’t enjoy, but I learned invaluable skills such as woodworking, customer service, and technical design. Instead of complaining, I sought to learn everything I could about my job. The knowledge I gained later became crucial when I was scouting for manufacturers for my products.

Engage deeply with your current role. Look beyond the surface to understand the intricacies of how things operate. This will not only enhance your skill set but also prepare you for entrepreneurial challenges down the line.

## Step 3: Build Your Network and Reputation

Networking and personal branding go hand in hand. If you don’t present yourself well, potential connections may not take an interest in you. First impressions matter—especially in the age of social media, where you often have only one chance to make an impact.

Identify and showcase your strengths. After I missed qualifying for the helicopter World Championships in 1993, I still found a way to make a name for myself. By attending as a team coach and orchestrating a spectacular model helicopter firework display, I garnered media attention and left a lasting impression. This experience not only elevated my profile but also paved the way for my later success.

Be proactive in making connections and showing genuine interest in others. People are generally more receptive to those who show a real curiosity about them, which can lead to valuable relationships in business and life.

## Step 4: Identify Improvements and Document Them

Many people venture into business because they were dissatisfied with a previous boss or workplace. Use this dissatisfaction as fuel for your entrepreneurial journey. Document the challenges you observe in your current job, and note how they can be addressed.

For instance, while working in a radio control model shop, I identified several inefficiencies, including product shortages and poor staff training. This knowledge laid the groundwork for my own successful chain of model shops.

Documenting these observations not only prepares you for your future endeavors but also serves as an informal education in business problem-solving.

## Step 5: Test Your Ideas with a Side Hustle

Starting a business can be intimidating due to the risks involved. This is why testing your ideas through a side hustle is essential. Before launching my line of radio control models, I stocked various products in my shops to determine what sold best.

A friend of mine, wanting to launch an e-commerce store but wary of financial risk, found a clever workaround. He listed resistance training bands for sale before actually purchasing them. When he received orders, he knew there was demand, and only then did he invest in inventory.

This principle of testing—often referred to as the Minimal Viable Product (MVP)—allows you to gather user feedback and refine your offering before committing large sums of money. Remember, the opinions that matter most come from actual customers, so prioritize their feedback as you iterate on your product.

## Step 6: Launch Your Business

Finally, if you’ve followed the previous steps, you’re ready to launch your business. This might seem premature to some, but those who have prepared properly significantly increase their chances of success. Many people dive into entrepreneurship without the requisite skills or knowledge, leading to failure and frustration.

To succeed, analyze the data from your side hustle to identify what works best—typically, 20% of your efforts will yield 80% of your results (the Pareto Principle). Once you understand what aspects are successful, scale those efforts to reach a larger audience.

## Conclusion

Building wealth is not an overnight endeavor. It requires careful planning, skill development, and a willingness to learn from both successes and failures. If you’re ready to take your first steps toward entrepreneurship, remember to focus on your strengths, engage deeply with your current role, nurture your network, document your observations, test your ideas, and finally, launch your business.