9 Risks you should take if you want to be Rich

Summary

In this video, Steve Sealbold emphasizes that building wealth is a learnable skill, requiring individuals to step out of their comfort zones, embrace failure as a learning opportunity, and stand alone in pursuit of financial goals. The script highlights the importance of letting go of relationships that hinder progress, starting over without fear, and delaying gratification for long-term wealth. It also encourages viewers to approach and ask for help, be willing to burn bridges to commit fully to their goals, and to remember that determination is key to overcoming the challenges on the path to wealth.

Takeaways

• 🚀 **Stepping into Unfamiliar Zones**: Wealth accumulation requires stepping out of your comfort zone and embracing the unfamiliar.
• 🔄 **Embracing Failure**: Successful wealth creation involves learning from failures and not fearing the label of 'failure'.
• 🏆 **Standing Alone**: Pursuing wealth often means walking a lonely path, which can include facing rejection and isolation.
• 🤝 **Let Go of Relationships**: To amass wealth, you may need to let go of relationships that do not positively impact your life or goals.
• 🔄 **Starting Over**: Being willing to start from scratch is a significant risk but necessary for aligning your efforts with the right goals.
• 🎉 **Forgoing Present Pleasures**: Delaying gratification and focusing on long-term benefits is a common trait among wealthy individuals.
• 🗣️ **Approaching and Asking**: Overcoming the fear of rejection is crucial for asking for help and opportunities that can boost financial success.
• 🔥 **Burning Bridges**: Sometimes, completely committing to a goal by 'burning bridges' can focus the mind and drive towards success.
• 💪 **Extraordinary Determination**: Wealth often comes to those with ordinary abilities but extraordinary determination and persistence.
• 🤔 **Risk What You Can Afford**: It's important to take calculated risks that are within your means, as advised by Benjamin Graham.

Q & A

What is the main message of the video script about building wealth?

The main message is that building wealth is a learnable skill, and it involves taking calculated risks, stepping out of one's comfort zone, and learning from failures.

Why is stepping into unfamiliar zones important for wealth accumulation?

Stepping into unfamiliar zones is important because it challenges one to grow and expand their comfort zone, which is necessary for discovering new opportunities and wealth.

What role does failure play in the journey to wealth according to the script?

Failure is portrayed as an inevitable part of the journey to wealth, with successful individuals learning from their mistakes and using them as stepping stones towards success.

Why might standing alone be a necessary risk for those seeking wealth?

Standing alone is necessary because the pursuit of wealth can be isolating, and it often requires making decisions that differ from the crowd, which may lead to temporary loneliness.

What does the script suggest about the relationship between discomfort and wealth?

The script suggests that getting comfortable with discomfort is integral to becoming wealthy, as it triggers a part of the brain that releases dopamine, which can lead to a competitive advantage.

How does the script relate the concept of letting go of relationships to wealth accumulation?

The script implies that letting go of relationships that do not contribute positively to one's life is crucial for focusing on wealth-building, as it allows for the cultivation of more productive and wealth-minded connections.

What does the script say about the importance of starting over in the pursuit of wealth?

The script emphasizes that starting over is a significant risk that can lead to wealth, as it involves acknowledging mistakes and having the courage to begin anew with the right approach.

Why is foregoing present pleasures highlighted as a key principle in the script?

Forgoing present pleasures is highlighted because it demonstrates self-discipline and a focus on long-term wealth over short-term gratification, which is a common trait among wealthy individuals.

How does the script view the act of approaching and asking for help in wealth building?

The script views approaching and asking for help as a necessary step in wealth building, despite the fear of rejection, as it can lead to opportunities and support that are crucial for success.

What is the significance of burning bridges according to the video script?

Burning bridges signifies a commitment to one's goals, as it eliminates the option of retreat and forces an individual to focus solely on achieving their desired outcome with determination.

What advice does the script offer for those who lack the courage to continue on their wealth-building journey?

The script advises that individuals are stronger than they know and should remember that great men are ordinary men with extraordinary determination, encouraging perseverance despite the challenges.

Outlines

00:00

💼 Embracing Risks for Wealth Accumulation

The first paragraph emphasizes that building wealth is a skill that can be learned, contrary to the belief that it's an innate talent. It stresses the importance of stepping out of one's comfort zone to achieve wealth, suggesting that familiar routines and fear of failure are significant obstacles. The narrative uses examples like Thomas Edison and Bill Gates to illustrate that successful individuals are not afraid of failure but learn from their mistakes. It also touches on the loneliness that comes with the pursuit of wealth, advising that one must be willing to stand alone and make unconventional choices to achieve financial success.

05:01

🔥 Taking Bold Steps Towards Financial Success

The second paragraph discusses various risks one must be willing to take to amass wealth. It starts with the idea of letting go of relationships that do not contribute positively to one's life, suggesting that surrounding oneself with wealthy-minded individuals is crucial. It also talks about the fear of starting over, yet encourages embracing the重新开始 process as a necessary step towards wealth. The paragraph further advises on delaying gratification for long-term gains and the importance of approaching and asking for help without fear of rejection. It concludes with the concept of 'burning bridges,' a metaphor for committing fully to one's goals without leaving any easy way out, highlighting the determination and focus required to achieve financial success.

Keywords

💡Wealth

Wealth, in the context of the video, refers to the accumulation of financial resources and assets. It is a central theme as the video discusses principles and risks one must take to amass wealth. The video emphasizes that wealth is not inherited but is a result of learning and applying certain principles, as exemplified by self-made millionaires.

💡Risks

Risks are actions or decisions that involve uncertainty and potential for loss or failure but are necessary for significant gains, such as wealth accumulation. The video outlines various risks one should take to become wealthy, including stepping into unfamiliar zones and embracing failure as a learning opportunity.

💡Comfort Zone

The comfort zone is the mental state where a person feels at ease and in control, but it can hinder growth and wealth accumulation. The video suggests that to become wealthy, one must continually challenge and step out of their comfort zone, as this is where growth and wealth are found.

💡Failure

Failure is portrayed as an integral part of the journey to success and wealth. The video uses examples like Thomas Edison and Bill Gates to illustrate that failure should not be feared but embraced as a learning opportunity. It is a risk one must take to achieve wealth.

💡Isolation

Isolation refers to the loneliness and potential social alienation one might experience in the pursuit of wealth. The video mentions that being wealthy can be isolating, and one must be willing to stand alone and face rejection from others to achieve financial success.

💡Discomfort

Discomfort is the state of being uneasy or facing new challenges that are outside one's normal experiences. The video argues that getting comfortable with discomfort is crucial for personal and financial growth, as it triggers the brain to release dopamine, contributing to a sense of happiness and motivation.

💡Relationships

Relationships are social connections that can influence one's financial path. The video suggests that to accumulate wealth, one might need to let go of relationships that do not contribute positively to their life or hinder their progress towards wealth.

💡Starting Over

Starting over implies the willingness to begin anew, even after significant investment in a particular direction. The video uses the metaphor of climbing the wrong building to illustrate the importance of starting over when one realizes they are on the wrong path to wealth.

💡Present Pleasures

Present pleasures refer to immediate gratifications that may conflict with long-term wealth goals. The video advises against forgoing long-term wealth for short-term pleasures, emphasizing the need for delayed gratification as a key to accumulating wealth.

💡Rejection

Rejection is the fear of being turned down or dismissed, which can prevent individuals from asking for help or opportunities. The video encourages viewers to overcome the fear of rejection and to be bold in asking for what they need to boost their financial life.

💡Burning Bridges

Burning bridges is a metaphor for committing fully to a goal by eliminating all alternatives. The video references Napoleon Hill's advice to 'burn all bridges' as a way to focus singularly on one's wealth goals, suggesting that sometimes drastic measures are necessary for significant achievements.

Highlights

Building wealth is a learnable skill, not something one is born with.

To amass wealth, step into unfamiliar zones and embrace uncertainty.

Leaving your comfort zone is essential for achieving wealth goals.

Wealth often lies outside your comfort zone, requiring courage to pursue.

Thomas Edison failed 1,000 times before inventing the light bulb.

Bill Gates dropped out of school and experienced failure before success.

Successful entrepreneurs learn from their mistakes rather than fear failure.

Wealth accumulation can be isolating, requiring you to stand alone.

The path to wealth often involves moving away from the crowd and facing loneliness.

Getting comfortable with discomfort is crucial for wealth creation.

New and unfamiliar situations can trigger the brain's reward system.

Surround yourself with wealthy-minded individuals to foster productivity.

Let go of relationships that do not contribute positively to your life.

Starting over is a risk that can lead to wealth if you're on the wrong path.

It's okay to make mistakes; the fear of making another should not stop you from starting over.

Delaying gratification is a common factor among wealthy individuals.

Wealthy people can control the urge for instant gratification, focusing on long-term benefits.

Approaching and asking for help is crucial, despite the fear of rejection.

Wealth often comes when you dare to approach those who can aid your success.

Burning bridges can be a risky but effective strategy to focus on your goals.

Risk what you can afford to achieve great wealth, as advised by Benjamin Graham.

Transcripts

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according to self-made million year

Steve seal bold building wealth is a

learnable skill individuals who have

been able to gather wealth today when

I'm born with peculiar wealth gathering

talents instead they decided to learn

the principles of wealth and pursue them

in this video I will show you some of

these principles which are tagged as

risks you should take if you want to be

rich one stepping into unfamiliar zones

undoubtedly taking the step into

uncertainties is very scary however it

is paramount for the amassment of wealth

you may set goals and create schedules

but if you are not willing to stretch

yourself you wouldn't be able to achieve

such goals

the biggest obstacle between you and

your goal is your comfort zone leaving

the familiar ground until the unfamiliar

areas involves a significant amount of

courage if you must be rich you must

continually challenge and improve

yourself raid is only outside your

comfort zones that you can find wealth

as you grow your comfort zone expands so

you need to step out into unknown

grounds to become more prosperous

consistently to being called a failure

did you know that Thomas Edison one of

the world's most renowned scientist and

inventor of the light bulb failed 1,000

times before he was finally able to

create a light bulb did you know that

Microsoft's founder Bill Gates dropped

out from school and also failed in his

trap old data idea one primary reason

why people aspire but never get rich is

that they have big dreams but are often

too scared to take the risks of failing

when people look at a rich person the

only thing they see is the glamour

nevertheless behind the glamour are the

many mistakes and failures self-made

billionaire Richard Branson said that

successful entrepreneurs don't fear

failure instead they learn from their

mistakes the successful entrepreneurs

you see around today did

suddenly get rich they too experienced

rejection if you genuinely desire to be

wealthy

you must risk being called a failure 3

standing alone a 2016 article on bbc.com

reported that although many people will

not give up chasing their financial

wealth those who have achieved their

dream say that it can be isolating and

often looks rosier only on the outside

yes getting rich is a desire for all but

one must risk attached to it the truth

of being in the lonely path in your

quest for wealth you may have to face

hatred and be despised from jealous

friends and family members also there is

always a point where you have to perform

the extraordinary task of moving away

from the crowd it is quite easier just

to follow the group and do what everyone

else does but what everyone else does is

not what you need to be wealthy hence

you must follow the less crowded path

for getting used to being uncomfortable

to create this kind of beautiful life

you desire you have to do things that

you have never done before a lot of

people tend to get too comfortable in

their early years whereas it ought to be

a period to get familiarized with

discomfort indeed no one likes to be

uncomfortable but it is an integral part

of being wealthy

research shows that putting yourself in

new and unfamiliar situations triggers a

unique piece of the brain that releases

dopamine natures make you happy chemical

this unique region of the brain is only

activated when you see or experience

entirely new things getting comfortable

with discomfort gives you a speed

advantage think about this when do you

move faster carrying a hefty bowl of

water or pulling something very light

weighted 5 letting go of relationships

this has to be one of the most vital

risks for riches a famous saying says if

you are among six rich individuals you

will soon be the seventh one likewise if

you are in the midst of

poor people you are certainly the

seventh one it does not matter how long

the relationship has lasted if the

person's impact is not seen in your life

then you need to walk away to be

productive you have to move along with

wealthy minded individuals not those

pessimistic ones that will do everything

within their powers to discourage you

another set of people who you need to

let go of are those who are so

comfortable with giving you fish but

never want to show you how to fish

relationship with such people is toxic

because they will make you lazy and

overly dependent for you to begin to

amass wealth you must take the risk of

killing the attachments you have with

certain people six starting over imagine

running to the top of a building and

then discovering that the building you

are on is the wrong one you are not

supposed to be there would you go to the

bottom and start over again on the

surface deciding to begin again is easy

but in reality considering the resource

time and energy you used to climb you

might just give up the reason why some

people are not yet wealthy is either

they are on the wrong building or are on

the foot of the right structure but are

too scared to start over again starting

again comes with its fears and thoughts

such as do I have what it takes to climb

again what if I climb and discover that

I am on the wrong building again these

fears are legit but there is a need to

understand that it's okay to make

mistakes everyone does and the fear of

making another one should not stop you

from starting all over if you must be

rich you must take the risk of retracing

your steps and starting from scratch

again seven foregoing present pleasures

Richard G Scott once said don't give up

what you want most for what you want now

well in my own words don't give up your

dreams of owning a private jet for some

bottles of drinks and designer clothing

although delaying gratification is a

common factor for amassing wealth it is

somewhat demanding wealthy individuals

are people who can control themselves

discipline themselves to not giving to

the pressure of instant gratification

but to instead think about long-term

benefits if you desire to be counted

among the rich you must be able to look

beyond the immediate pleasures 8

approaching and asking since many

individuals are scared of rejection they

find it difficult to ask for the help

that is required to boost their

financial life denial is a feeling that

every rich person has to deal with

undoubtedly it hurts to be rejected

however it is more heartbreaking to

allow the fear of rejection to stop you

from attempting to ask for what will

make you productive a famous quote by

Mark Twain says twenty years from now

you will be more disappointed by the

things you didn't do than by the ones

you did so throw off the bowlines

sail away from the safe harbor if you

don't attempt you will never know little

wonder why the rich damned the

consequences and just ask

although the step between them and their

breakthrough may just be in the ostian

many individuals will instead remain

poor then risk getting rejected no man

ever made himself rich wealth comes when

you dare to approach those whose impact

will aid your success if you want to be

rich you must dare to ask nine burning

bridges this is by far the most

dangerous risk to take if you want to be

affluent in his book Think and Grow Rich

Napoleon Hill shared the story of Edward

C barney's whose ultimate desire was to

work with Thomas Edison it was said that

Edward vowed to himself with these words

here is but one thing in this world that

I am determined to have and that is a

business association with thermos a

Edison I will burn all the bridges

behind me and stake my entire future and

my ability to get what I want this

situation is a king - saying putting all

your eggs in one basket which of course

is an insane thing to do however the

reason why Napoleon Hill advised to burn

all bridges or block all exits is so

that you can fix your mind in that which

you desire

and pursue it with every ounce of

strength within you that is so that you

will make your dreams and obsessions

that you cannot back out of ultimately

if you want to be rich then you should

yield to the words of Benjamin Graham

who once said risk what you can afford

you great men they say are not

extraordinary man well they are ordinary

man with extraordinary determination for

sure there are times when you will lack

the courage to continue but always

remember you are stronger than you know

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