Want to PREDICTABLY Become Rich (vs by luck or not at all)?

I set out to become wealthy not because I cared about the money, in fact to this day money isn’t a major concern for me in and of itself.

For me what was important was the lifestyle I wanted to live and the projects I wanted to be able to fund.

Oh sure as a young boy the idea of being rich felt synonymous with being significant, important, and someone with personal power to shape his own destiny and the destiny of the world.

But as I grew older the first constraint to really affect my life was simple. I wanted to be able to travel, I wanted to be able to experience great restaurants and experiences around the world I’d dream of and I couldn’t afford these let alone the time off to do so.

Michael at the Sheikh Zayed Mosque in Adu Dhabi

Michael at the Sheikh Zayed Mosque in Adu Dhabi

Why do I tell you this? Well I imagine you can relate but more importantly because I believe the objective always informs the process. 

In this case because the goal wasn’t to make a lot of money but rather to enjoy the fruits of the money at an early age it meant three things:

  1. I had to do it relatively fast
  2. I had to do it in a way that created freedom of time and location not merely financial abundance
  3. I had to be able to do it predictably (no point in putting in all that energy just to fail)

So the question becomes how do you do this?

At the time I didn’t get it of course but there’s a basic logic I’m going to explain to you and it will make tons of sense to you.

The Simple Logic of Becoming Rich

In your life you do things and things happen to you and these have consequences. These consequences either add to our lives or take away from them.

For example, we might get a disease or be in an accident. Part of this we can influence and part of it is out of our control. What is out of our control we call luck.

So, for example how we drive or whether we practice proper sanitation we can control but what others do around us or what nature does this is mostly beyond us. The best we can do is to adjust what environment we place ourselves in savvy?

Because there are forces beyond our control, an environment having an influence on us we’ll always be somewhat affected by the vestiges of luck.

lightening

There’s some probability involved in all of this. For example, if you break the law you might not get caught but over a sufficiently long timeline this will tend to have negative consequences.

On the flip side if you’re good with people playing win-win (not letting them take advantage of you but honoring your commitments and dealing fairly) then over time this will tend to work in your favor as you develop a good reputation.

The important lesson is CONSISTENCY not with anything but with things we can do, which on average will work in our favor.

Consistency is only great if there’s a favorable probability to positive outcomes.

Again, why do I tell you all this?

Because we don’t have certain results on any particular timeframe, things can always happen for or against us but we can get predictable results over time by doing the right things much like how if you keep rolling a pair of dice you’ll eventually get a 12.

Rolling Dice


I’m sure you get it pretty obviously there are two important things for us if we want predictable wealth:

  1. Doing those things with consistency that will get us FAR ahead with HIGH probability
  2. Changing our environment (you might add to this learning to respond effectively to your environment the “if life gives you lemons make lemonade” logic)

This is one reason I’ve become critical of a lot of the businesses and tactics people take. Because even though they might be getting good results now the probability is over time this will break down for them.

Does it mean they shouldn’t take advantage of a short-term opportunity? Not at all, it simply means they should learn to protect their gains and ideally given the choice should pursue something that will work in their favor more with time vs less with time.

To have power over our lives we must accept certain key beliefs:

  1. Different behaviors have different consequences and although there are external factors these behaviors have relatively predictable consequences so we can learn to do better behaviors to get better results (in Richucation we call this developing skills)
  2. Not all aspects of the world have the same input to output ratio and as a result we can find places with better outputs for lower inputs (optimizing this is what we in Richucation call “The Dream Life Ratio”)

Let’s start with the consequences of the first since it’s the root of all personal change.

We Change Our Lives Predictably Through Skills

If you think about any field of sport, of art, of science, etc. we can gain knowledge and we can translate this knowledge into our bodies, so we consistently apply it in real time and this gives us an advantage.

The reason this works is because the universe is governed by various laws of physics, of chemistry, of biology, etc. so it doesn’t matter if you’re the great golfer Tiger Woods or not if you hit the ball at the same angle as him with the same force as him assuming the same environment (wind, etc.) it’s going to go to the same place.

To me this is super empowering and exciting because it means I can figure out the formula and I can get results accordingly. 

The challenging part is figuring out the formula or how to apply it (it’s not just measuring the angle and speed Tiger hits the ball it’s developing the muscles, precision, and muscle memory to consistently hit it in this way and even more knowing in the moment how to it the ball from one place on the course to another). 

With some rare exceptions anyone can do this. Have you ever met someone who knew the right things to say? Were you capable of saying those things? Of course you were! You just needed to learn what those things were. 

Becoming rich, building wealth, etc. is no different. Some people consistently make lots of money and invest well, other people consistently lose lots of money. With the exception of environment, which we can also change gradually you could do the same things if you knew what they were.

In other words it all comes down to developing skills and our mission at Richucation is to help you develop the particular skills no one is teaching in school or life, the ones not devoted to making you a good welder or doctor or musician but instead make you successfully financially.

This brings us to our second belief about inputs and outputs.

The Dream Life Ratio will literally give you your “Dream Life”

What does it mean to be rich?

Rich = abundant in other words to have a lot.

You have a lot through three basic processes:

  1. By getting a lot
  2. By keeping a lot
  3. By having this lots grow into more lots

It works like this in life each day we get plenty some earned such as our wages and some mostly unearned such as good wealth or good family or good health.

Some people get more than others, which is due in part to luck but in large part to what they give in return and to whom they give it in return.

In other words, it’s not luck that a doctor makes more than a plumber, a doctor is doing a more technical job and saving lives, while the plumber is doing a relatively simple job and saving you from bad smell.

So, we can do different things to get more out, HOWEVER, there’s almost always an input as well.

For example, the doctor has to go to school for a lot longer than a plumber (higher input).

You might say there’s a price we pay in life. The ratio between the input and the output determines how “profitable” it is to us. We want to maximize profit by finding places where there are lower inputs and higher outputs.

Almost the entire Richucation training, coaching, community, etc. is dedicated to helping you find ways to improve this ratio.

This is how we get a lot more.

Some of those inputs are necessary for the outputs but then a lot usually are not such as travel, leisure, partying, etc. so this determines how much we keep.

Why is what we keep so important?

Because it protects us from when things go wrong AND it allows us to reinvest it, which creates a compounding effect and in essence gives us more.

Very simply here’s how it works. Say you did something and earned $1000 for this effort. If you spend it you earned $1000. But if you could invest it and it grows to $4000 it just increased your output dramatically by meaning in a sense you just made 4 times as much for the same input.

You multiply your outputs by reinvesting them.


What Skills?

This leads us to the final question. If behaviors are how we influence our financial destiny and skills are the mastery of those particular behaviors so we get better results then what are the skills we need in order to become rich?

It turns out there are 6 essential financial skills that will move the needle for you and in combination give you predictable results:

  1. Getting Deals – if you can pay less for things then you keep more of what you get so you automatically end up further ahead than your peers. There’s 3 basic sets of skills for getting all great deals.
  2. Profitable ​Marketing – in other words getting more people to pay you more for what you’ve got to offer is the biggest predictor of financial success since it plays a massive role in answering the question “how much do you get?” We call this process marketing. There are 7 models of marketing to understand to get the most
  3. Grow Impact – after you’ve achieved a level of profitability you move the deal by scaling up, doing bigger deals, affecting more people, etc. This is where most people, entrepreneurs, and small businesses get stuck…how do you go from thousands to millions?
  4. Leverage Team – you need to be able to offer something to others and you can only do so much yourself so in order to grow big enough you need others. Of course people can be your greatest benefit or your greatest liability so mastering how to find the right people and work with them to get the most out of them is where the real skill lies.
  5. Multiply Ownership – this is where you learn to have what you’ve got grow into A LOT more. It’s one of the key areas involved in buying your freedom.
  6. Value Mastery – in order to do anything and in order to develop not just these skills but the skills you’ll offer to others you need to answer two questions: what is valuable? And how do I learn it as fast as possible and at as high a level as possible? This is a whole skill set in itself.

There’s one more very important point to consider, which we see as the most common mistake people make in pursuing wealth or really success of any kind…SEQUENCE. The right thing at the wrong time is the wrong thing so you need to know what order to do.

​Where Are You In the Wealth Journey and What’s the Highest Impact Objective For You Next?

Wealth Formula Booklet

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