If You Want To Get Wealthy You Need 3 Things

If you want to get wealthy you need 3 things. Leverage, Specific knowledge and accountability. If you are not wealthy is because you missing one of these three. Naval Ravikant said you need the above 3 things to get wealthy. In this post we are going to go over them base on my understanding and opinion.

Leverage

Since there are various definitions for leverage. Let’s look a leverage in the finance sense.

Leverage is when someone borrowed money and use that money to invest into an asset. The profit you earn from the asset is greater than the interest you pay for the money borrowed.

For this reason the leverage from your efforts can be multiply by a thousand fold.

There are many form of leverage, some of them are:

You can do Broadcasting, you can use capital or you can use leverage by having people work for you. Content and internet is a form of leverage, This post you are reading is a form of leverage because I can write down this post one time and share it to the masses.

Specific Knowledge

Specific knowledge is when you learn how to give society what it wants but society doesn’t know how to get it yet at scale. It doesn’t know how to leverage it yet.

This one is Hard with capital H. This one is suppose to be knowledge that society cannot be training you for. Because if society is able to train your for that knowledge then it means that it can also train someone else and replace you.

For this reason specific knowledge cannot be learn in school for the masses. It needs to be learn through self taught or through apprenticeships.

You can acquire specific knowledge by doing something you are really passionate about. This specific knowledge cannot be automated or outsourced. This remind me of why self grow is so important.

Accountability

Accountability is the one that scare many people away. This one implies more than being responsible. This one implies that you need to put your neck in public display.

Have you ever seen a dog fight and one of them grab the other by the neck. Well you know that won’t end well for the dog that had its neck grab.

When you put your own name as a brand to the public you are being accountable. Society can reward you with many benefits. But it can also give you the spanking of your life.

You need a lot of mental strength to risk your name on public. Because doesn’t matter how good you think you are.

There are going to always be Trolls online. They get a kick of the emotional responses. We all know that when people are emotional people tend to says things that they did not meant to say.

A you can see base on Naval Ravikant leverage, Specific knowledge and accountability are the 3 things you need if you want to get wealthy.