Your Every Decision Can Make You Richer — or NOT
"Wealth is a product of a man's capacity to think." – Ayn Rand
You're going to lunch with a colleague. Everything is good. When the waiter puts the bill down, the total is $26.
Do you pick it up? Do you wait and hope he does? Or do you suggest you split it?
On the surface, this is a minor decision. But in truth, it is one of a million choices you’ve had, have, and will have to become wealthier.
A cheapskate might look at it this way:
• If I pay the whole bill, I’ll be $26 poorer.
• If we split the bill, I’ll be $13 poorer.
• If I can get him to pay it, I’ll be $13 richer — richer than I would have been if I had to pay for my meal.
To the cheapskate, the best decision is obvious. So when the bill arrives, he gets up to “go to the bathroom,” hoping his colleague will pick up the check.
Let's check this from a different view. Wealth building, like quantum mechanics, often operates according to laws that seem contrary to what is “obvious.”
Paying the tab, in other words, might actually make you richer. Because the $13 you spend on your lunch partner might give you a return of much more than $13.
Your generosity might signal that you are the kind of person that can be trusted. It might tell that you are someone who is willing to give first without demanding in return. If one sees you in that light, a relationship might be seeded by this small investment on your part.
A year later — it is possible to imagine — that gesture might get you recommended for promotion.
It depends on your assessment of their character.
If one impresses you as a person who believes — as you do — in reciprocity, you will know that the $13 is a wise investment. If, on the other hand, they show you that they are a person who believes in exploiting others, the wise move might be to pay only your share of the bill and not develop the relationship any further.
In either case, you are richer.
In the first case, you are richer in a potentially lucrative business relationship. In the second case, you are richer in knowledge — knowledge about him that can help you avoid trouble or seize opportunity in the future.
I am making two points: First, almost every event in your life is an opportunity for you to become richer. And second, by seeing every situation as a wealth-building opportunity, you can take the actions that will gradually make you very rich.
The people I call “wealth builders” understand this on a basic level. They see every transaction — social, personal, or business — as an opportunity to build wealth. They are always angling, even subconsciously, to increase their ROI.
Most aren’t born with this instinct. A casual conversation is just a casual conversation. And choosing to join a club or go to some event is that and nothing more.
The moment we put this principle into practice, the world automatically becomes very differently. Its potential is no longer limited. It is enormous, maybe even infinite. And we view every action we engage in as a chance — big or small — to increase or diminish our wealth.
Training yourself to ask the following four questions — keeping in mind that every situation, big or small, is an opportunity for you to become richer...
1. “In what way is this an opportunity for me to become more wealthy?” (Note: I don’t ask, “Is this a wealth-building opportunity?”— because every situation is a wealth-building opportunity.)
2. “What is the potential of this opportunity?”
3. “What are the possible problems with this opportunity?”
4. “What can I do to seize this opportunity? AKA as Carpe Diem, Yolo!"
Look at every situation you find yourself in as an opportunity to make yourself richer. And I do mean every situation, even the most mundane. This includes:
• The first thought you put in your mind when you wake up each morning.
• What you listen to on your commute to work.
• How you greet the people around you.
• What you talk about around the coffee machine/water cooler.
• The expression on your face and the firmness of your grip when you shake hands.
• The conversation you initiate with the person next to you on a plane, train, uber.
• Whether you buy a brand-new car or a used one.
• How your voice sounds when you answer the phone.
• How you prepare for a meeting.
• Whether you buy your clothes at Nordstroms or Marshalls.
• Whether you go out to lunch or eat at your desk.
Some of your opportunities will be small and some large. But by asking yourself the four questions above first, you will bring your average way up...
If you make it a habit to approach every situation this way, it will soon become automatic. And before you know it, you will have seized hundreds — even thousands — of wealth-building opportunities... each one making you a littler richer. Not only monetarily, but more importantly, Socially!
Track Of The Day - Get Munny - Erykah Badu