Asymmetric Finance

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Subscriber only: How Anyone Can Become a Millionaire from Scratch
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Subscriber only: How Anyone Can Become a Millionaire from Scratch

How to Leverage Your Way to Wealth

Dec 11, 2024
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Subscriber only: How Anyone Can Become a Millionaire from Scratch
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One of the things I’m most passionate about in the world of finance is that anyone can become a millionaire from scratch. Yes, anyone. Especially today, with thousands of tools at our disposal, it’s easier than ever to leverage opportunities with $0.

Anyone can become a millionaire if they understand one simple truth: you need to stop working for money. Robert Kiyosaki already said this, and it’s one of the concepts I didn’t understand back in the day (I thought I did, but I really didn’t). Now I see why he emphasized it.

When you work for money, you’re like a donkey chasing a dangling carrot.

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However, if you know how to use your intelligence to your advantage, you can become a millionaire with absolutely nothing. Starting from zero.

The way to do it is through leverage. There’s an investor I admire a lot, Naval Ravikant, and he talks about this extensively.

There are three types of leverage:

  1. Leverage Through People:
    This is the most traditional form of leverage. If I manage to convince someone to do a task for me, and I know that task can generate $1,000 while I only pay them $200, I’m leveraging their labor to create value for myself.

  2. Leverage Through Capital:
    This is my personal favorite, even though it’s not always the most optimal. If you have assets and those assets are already working for you, you can use them to achieve even more. A classic example is real estate. You buy a property, and the bank gives you a mortgage using that property as collateral.
    Other examples include collateralized loans or even leveraged funds available today.
    The key to this type of leverage is borrowing at the lowest interest rate possible for the longest term available. While companies typically take out loans for 1-5 years, if you can borrow money for 20-30 years, you’re playing a different game.

  3. Leverage Through Media or Code:
    This is the one that allows you to start from absolute zero, with nothing. Use technology or distribution channels to reach the largest audience possible. Start a blog, launch a newsletter, or build something scalable using code. The possibilities are endless, and the barriers to entry are minimal.

At the end of the day, no matter which type of leverage you use, the goal is to stop chasing the carrot and focus on making others buy into your value. Whether it’s your employees, the bank, or your followers, the idea is that they contribute to your success.

This is why, more than ever, selling is an art. An art that, at least for now, AI cannot replace. When I share this with you, you know it’s coming from me, written by hand behind a computer screen, and there’s no prompt in the world that can replicate this. So, as a tip: train yourself in sales. And if you don’t like it, just start by reading and learning.

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