Thursday, April 24, 2008

To get rich, make 1,000 people rich 0:12

The best way to get rich is to (try to) make 1,000 people rich.

Microsoft, for instance, created 10,000 millionaires within 5 years.

Yes, I know. You're thinking, "Peter, you're talking about Bill Gates! And I'm just... me! I'm not special."

But think about this: Bill Gates was exactly in your situation until he DECIDED to create massive wealth through DOS and the deal he struck with IBM. More accurately, he was open-minded enough to imagine himself as a wealthy person.

So assuming that you're willing to open your mind and consider the POSSIBILITY that you could become immensely wealthy in this life, let's examine HOW you could achieve that by trying to make others rich.

Indeed, the thought of making 1,000 people rich will suddenly empower your imagination. That's because trying to make 1,000 people rich is 1,000 times more demanding than just trying to make YOURSELF rich. After all, you're just one person.

This kind of thinking probably crossed the mind of Dr Yunus Muhammad, the economics professor in Bangalore who invented micro-credit (and for which he received the Nobel Prize). He was teaching one day in Bangalore when the thought suddenly arose in his mind: "Why am I teaching economic theory when outside these walls, people are struggling with poverty?" So he experimented and then created micro-credit.

Notice that he did not think, "How can I use my knowledge of economics to enrich MYSELF?"

Bill Gates similarly thought about how to enrich the lives of millions of people through software applications, especially Windows. Same with Steve Jobs.

Now here's the REAL success secret which even Gates or Jobs did not know (or at least, if they did, they did not implement this secret). Jeff Bezos and the founders of Google, however, DO know this secret.

Actually, I won't tell you the secret of making massive wealth. It's just too powerful. You might not be able to handle it.

Just kidding. Here's the secret: Turn your buyers into sellers. Alternatively, turn your users into creators (or promoters).

Think about this, and how it applied to Hotmail, the company who gatherer 30 million users in 30 months. Think about how Youtube was able to get 65,000 video uploads PER DAY, and how it got 100,000,000 video views PER DAY (and was sold to Google for $1.65 billion).