BY ROBIN GHOSH,
ECONOMIST AND BUSINESS MENTOR,
KOLKATA, 22 OCTOBER 2024:
How do you combine a unified philosophy of life?
A life which offers a sense of personal fulfillment and financial freedom.
It is not so easy to achieve this status. At the same time , it is indeed achievable and doable
What is the road map? How do we go ahead ? Where do we begin and where do we end?
Naval Ravikant, one of the practicing philosophers of modern times and a well known technocrat has designed a thought circuit. A thought process which combines wealth creation and optimization of self fulfillment.
10 POINT PRESCRIPTION:
Ravikant has designed a 10 point prescription. It is an unique equation that balances delight of living with financial equilibrium.
1 Ravikant advocates that don’t chase money, build wealth.What is wealth? Wealth is having assets that earn while you sleep.
The key is building systems which allow you to create lasting wealth that grows even when you are not actively in action.
2 No one can defeat you – if you know how to build and how to sell. Small win is no win. Play long term games with long-term partners.
3 Ravikant feels success truly refers to consistent success spread over long term timelines.
4 If you know how to use your knowledge and package it into a product you are done. You will be able to sell repeatedly. You become unstoppable. You will have a steady cash flow on and on.
5 Discover the true potential of the internet. It is an ocean of opportunities. Study and choose your career and business segment.
6 Study how young people have become rich without paying constant attention and a ton of energy. They have made it by leveraging their skill of coding and creating magical media products.
7 To acquire wealth, you don’t have to be a technical genius. If you don’t know how to code, — write books, blogs, record videos and podcasts.
8 Be an aspirational person. Fix up your aspirational hourly rate. If fixing a problem is less than your hourly rate – just ignore it. If your hourly rate is Rs. 1000 per hour, delegate or automate anything that is below it.
9 Learn microeconomics, game theory, psychology, persuasion, and ethics
10 To enjoy a deeper and meaningful life co – terminate with financial freedom — you have to integrate. Combine your skills, package your skills into a product, build a system which generates wealth. And enough financial freedom to live a meaningful life.
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