How to be successful and wealthy? – Understand what you do

What’s up guys. Today, we’re gonna talk about how to be successful and wealthy? by understanding what you do. Let’s go.

Thumbnail topic 6 - Understand what you do

I’d like to tell you one very important secret to be successful and wealthy. This one is among the top priorities which identifies more than 50% of your success and wealth.

Here is the secret: Understand what you do.

What do I mean by this? You must understand clearly and much better than anyone else about what you’re doing, about your industry, your market, target customers, etc. You must have more knowledge than all people around you about what you’re doing if you aim for success and want to compete in the market.

Warren Buffet used to mention several times that we do not need to know all, but we must be smart in our circle of competence. We don’t need to jump out of that circle, just stick with it and be extraordinary at it. You will find success and wealth. I always remember his advices when I run my own businesses. That’s why I can minimize risks and maximize benefit. That’s how my company becomes much better every single day.

Let’s make a little test to see whether you really understand what you do. I will ask a few questions and show you the wrong and right answers. If you find yourself on the wrong side, it’s time to move to the right side unless you want to go bankrupt soon.

Question 1: Why do you want to run this business?

Wrong: Well, because many people were successful before. So I just do the same thing.

Right: My goal is to build…

Question 2: What makes you different from others?

Wrong: Of course we are different.

Right: We specialize in…

Question 3: Why should people buy from you?

Wrong: Because we are good.

Right: We bring them best experience…

Question 4: How can you keep your business sustainable?

Wrong: Well, just keep doing it.

Right: Through continuous improvement and…

Those are very few questions to help you to check whether you really understand what you’re doing. If you fail the test, it’s time to fix it. If you pass the test, well done, you’re on the right track.

Here are a few tips to take away: Always understand what you do. Keep working very hard, keep improving yourself. Break your limit. Success is always there.

If you wanna see more of this, please subscribe, or if you wanna give me any advices, please leave your comments below as well. I’m John Carnegie from Advanedu.com. Thank you very much for watching. See you next week.

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