Why do successful people become more successful?
I am Aarihant Aaryan! Welcome to the Iron sharpen Iron newsletter,
Every week I share my homework from my startup journey, learning about human behavior, and sometimes decode industries and business models for fun,
I can’t control my curiosity :) )
Ps: Shared something interesting at the end of the newsletter, do miss that :))
I was wondering how successful people become more successful.
After talking to 100+ successful startup founders and wealthy people.
Here's the secret I figured out:
I drew this picture and it pretty much communicates the success compounds for people who are already successful. If you are finding it difficult to interpret, I got you covered.
Wealthy are early adopters:
Wealthy people experience the information first, they are early adapters.
They have an abundance of information. It's like a report full of insights for them - That's prosperity.
Prosperity = abundance of information. They experience the benefits of it like no others at the same time they have the ability to take risks.
I.e blockchain, NFT, cryptocurrency
People who ride the wave:
6 to 60% of the folks don't get information on their plate. They move by learning the effects of the action of the most wealthy people.
They end up experiencing some benefits of the information.
They eventually become teachers, influencers, mentors of the info, and insight. They amplify the information to the masses - they end up building temporary distribution in the process. But honestly, they struggle to stay relevant.
People who go to coaching classes:
60 to 100% of the people who are poor, get information but inform by textbooks. They learn about it and end up saying wow and clap but they can't act upon it.
By the time they want to make wealth out of the information/ insight - there is massive competition - they rarely get benefits.
It slowly becomes irrelevant. 60 to 100% of the folks are the same ones who go to the coaching classes to learn that information.
What the wealthy don't do:
The top 5% of wealthy folks don't settle with insight or information.
They constantly seek new information, whereas all the other folks settle on given information and try to Monetise it and end up becoming irrelevant.
You can experience the same thing the wealthy folks do, all you need is curiosity.
Curiosity is the bridge between staying relevant and irrelevant.
Curiosity is the currency to get insight.
Curiosity needs the right placement:
Assuming you are super curious, but doesn’t make sense if you are not on the right platform.
All platforms share the same information, but the timing is what matters the most.
Receiving information first gives you an asymmetric opportunity - that will help you to “Become successful”
It takes a lot of time for information to flow from one platform to another.
But takes less time for the information to spread on the platform.
Also, it's absolutely tough for information to flow on platforms where the majority are "seeking" entertainment.
If you want to get successful and have many opportunities, serve your curiosity on the right platform.
If you have any thoughts share them in the comments :)
If you found this insightful, do drop a like and tap on share.
A ❤️and share on LinkedIn / Twitter would definitely mean a lot.
Two things that fascinated me the most this week:
In the last one week, People in the USA have spent more than $300M on lottery tickets - In midst of a technical recession.
SBI total deposits in FY21- 40 trillion INR / - Total number of bank accounts 41crore
HDFC total deposits in FY21 -15 trillion - Total number of bank accounts 4.9 crores.
Awesome read Aarihant 🙌
this was awesome aarihant!