How to be a Capitalist without any Capital.
I don’t intend this to be a book review by the now-famous bestseller author Nathan Latka, but I must admit I have learned and borrowed a lot from his writing. In his book, he says you don’t have to be educated at Ivy League, have money, be super creative, or even have a good idea in order to get rich. He says that you just have to be prepared to break the rules.
He goes on to explain how he created a successful software company with only $119 in his bank account, and he was only 19 years old. His company was estimated at over $10.5 million five years later. He believes he is not incredibly smart and believes that you don’t need loads of money or a unique idea to get rich.
Another book that passed the same message is “The Power of Broke” by Daymond John. He is the founder of FUBU and a successful businessman. He is also one of the sharks in the show Shark Tank.
What is the take-home from these two finance experts?
Starting from zero is usually a hard thing and may seem undoable at times. But it is possible. All you need is to maintain a positive mindset. Be optimistic. And search in all corners. We often get discouraged when our bank accounts read zero or sometimes negative.
But as Daymond puts it, this is the right time to think of something. You will think on your toes when you are broke, as opposed to when you have some money to spend on it.
There are many ways to succeed, even without having a lot to spend at the start. Here are some of the most practical approaches that I derived from these two books and my own experience in life:
Always invest in building valuable relationships – networking cannot be ignored. Whether you are seeking financial freedom, business partners, or just want to hang out. The kind of people you keep around you will either propel you to success or pull you down.
Be Optimistic – Yes, it is tough to stay focused on your goals when things seem to be going on a downward spiral. But this is the best time to stay focused on your smart goals. This brings us to the third point.
Always set SMART goals – here, the 80/20 rules come into play. You will find value in 20% of the things that you do very well. Therefore, it is important to set practical and achievable goals. You should set objectives that are within your control. For example, instead of saying, “I want to lose 10 kgs by January,”. Try setting a goal like “ I will run 2KM every day”. This is achievable and will eventually lead to reducing your weight.
Fail more often, But Never fail the same way twice – If you don’t try things out, you will never know what works and what doesn’t. Therefore, it is important to make those mistakes. Fail…fail…. fail….and fail even more. Just make sure you don’t fail the same way twice.
Observing these subtle but simple views of life will propel you from success to success without any need to have money in your bank account. All you need is just a clear mindset and the right attitude.