{"id":687,"date":"2010-06-28T15:10:49","date_gmt":"2010-06-28T09:40:49","guid":{"rendered":"http:\/\/www.khaitan.org\/blog\/?p=687"},"modified":"2010-06-28T15:41:38","modified_gmt":"2010-06-28T10:11:38","slug":"how-can-you-be-a-millionaire-in-3-years","status":"publish","type":"post","link":"https:\/\/www.khaitan.org\/blog\/2010\/06\/how-can-you-be-a-millionaire-in-3-years\/","title":{"rendered":"How to become a millionaire in 3 years?"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignleft size-full wp-image-702\" style=\"margin-right: 10px; margin-bottom: 2px;\" title=\"Axis: Bold as Love cover Jimi_Hendrix\" src=\"http:\/\/www.khaitan.org\/blog\/wp-content\/uploads\/2010\/06\/Axis_Bold_as_Love_cover_Jimi_Hendrix.jpg\" alt=\"Axis: Bold as Love cover Jimi_Hendrix\" width=\"81\" height=\"81\" srcset=\"https:\/\/www.khaitan.org\/blog\/wp-content\/uploads\/2010\/06\/Axis_Bold_as_Love_cover_Jimi_Hendrix.jpg 160w, https:\/\/www.khaitan.org\/blog\/wp-content\/uploads\/2010\/06\/Axis_Bold_as_Love_cover_Jimi_Hendrix-150x150.jpg 150w\" sizes=\"(max-width: 81px) 100vw, 81px\" \/>I was reading an interesting <a href=\"http:\/\/news.ycombinator.com\/item?id=1447428\">thread<\/a> on Hacker News where the poster wanted to find out how he can become a millionaire in 3 years. One of the commenter has replied beautifully sharing his pearls of wisdom. Blatantly copying \/ pasting the bullets I liked (ignore this and go straight to the <a href=\"http:\/\/news.ycombinator.com\/item?id=1447467\">source<\/a>, otherwise), here&#8217;s what the commenter said you need to have \/ look for to become a &#8220;success&#8221; and not necessarily a millionaire:<\/p>\n<blockquote>\n<ul>\n<li> <span style=\"color: #000000;\"><strong>Market opportunity<\/strong> &#8211; a million dollars isn&#8217;t a lot in the grand scheme of things, but it certainly is a lot if the market opportunity is not large enough. Even if you put Bill Gates and Steve Jobs as founders in a new venture with a total market size of 10 million, there is no way they could become too wealthy without completely changing the business<\/span><\/li>\n<li><span><span style=\"color: #000000;\"><strong>Inequality of information<\/strong> &#8211; find a place where you know something that many undervalue. Having this inequality of information can give you, your first piece of leverage<\/span><\/span><\/li>\n<li><span><span style=\"color: #000000;\"> <strong>Leverage skills you know<\/strong>&#8211; You can go into new fields such as say Finance, but make sure you&#8217;re leveraging something you already know such as technology and\/or product.<\/span><\/span><\/li>\n<li><span><span style=\"color: #000000;\"><strong>Look in obscure places<\/strong>&#8211; We&#8217;re often fascinated with the shiny things in the internet industry. Many overlook the obscure and unsexy. Don&#8217;t make that mistake. If your goal has primarily monetary motivations, look at the unsexy.<\/span><\/span><\/li>\n<li><span><span style=\"color: #000000;\"> <strong>Surround yourself with smart people<\/strong>&#8211; smart people whom are successful usually got there by doing the same and have an innate desire to help those do the same. <\/span><\/span><\/li>\n<li><span><span style=\"color: #000000;\"><strong>Charge for something<\/strong>&#8211; Building a consumer property dependent upon advertising has easily made many millionaires, but it isn&#8217;t the surest path. <\/span><\/span><span><span style=\"color: #000000;\">Build something that you can charge for.<\/span><\/span><\/li>\n<li><span><span style=\"color: #000000;\"> <strong>Go with your gut and do not care about fameballing<\/strong>&#8211; Go with what your gut says, regardless of how it might look to the rest of the world.<\/span><\/span><\/li>\n<li><span><span style=\"color: #000000;\"><strong>Be an unrelenting machine<\/strong>&#8211; Brick walls are there to show you how bad you want something. Commit to your goals and do not waver from them a one bit regardless of what else is there. I took this approach to losing weight and fitness. I have not missed a single 5k run in over a year. It did not matter if I had not slept for two days, traveling across the country, or whatever else. If your goals is to become a millionaire, you need to be an unrelenting machine that does not let emotions make you give up \/ stop. You either get it done with 100% commitment or you don&#8217;t. Be a machine.<\/span><\/span><\/li>\n<li><strong><span><span style=\"color: #000000;\">If it&#8217;s a &#8220;trend&#8221;, it&#8217;s too late<\/span><\/span><\/strong><\/li>\n<li><span class=\"comment\"><span style=\"color: #000000;\"> <strong>Be a master of information<\/strong>&#8211; Many think it might be wasteful that I spent so much time on newsyc or read so many tech information sites. It&#8217;s not, it&#8217;s what gives me an edge. I feel engulfed.<\/span><\/span><\/li>\n<li><span class=\"comment\"><span style=\"color: #000000;\"><strong>Get out and be social<\/strong>&#8211;  Even if you&#8217;re an introvert, being around people will give you energy. <\/span><\/span><\/li>\n<\/ul>\n<\/blockquote>\n<p>When I first saw the <a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Axiscover.jpg\">cover<\/a> (probably in my 8th grade) of Jimi Hendrix&#8217;s album &#8216;Axis: Bold as love&#8217;, I was like WTF, how can he do it to the deities? Hendrix is depicted as two Vedic deities, with the multiple hands of Durga and as avatars of Vishnu.<\/p>\n<p>As a startup entrepreneur one has to embody multiple incarnations in one single lifeycle and that pic above is very relevant. What the commenter mentioned above is a lot of things to be done in a short span, but yeah, not every startup gets there, unless you have multiple hands and heads.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I was reading an interesting thread on Hacker News where the poster wanted to find out how he can become a millionaire in 3 years. One of the commenter has replied beautifully sharing his pearls of wisdom. Blatantly copying \/ pasting the bullets I liked (ignore this and go straight to the source, otherwise), here&#8217;s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[214],"tags":[336,346,321],"_links":{"self":[{"href":"https:\/\/www.khaitan.org\/blog\/wp-json\/wp\/v2\/posts\/687"}],"collection":[{"href":"https:\/\/www.khaitan.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.khaitan.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.khaitan.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.khaitan.org\/blog\/wp-json\/wp\/v2\/comments?post=687"}],"version-history":[{"count":11,"href":"https:\/\/www.khaitan.org\/blog\/wp-json\/wp\/v2\/posts\/687\/revisions"}],"predecessor-version":[{"id":708,"href":"https:\/\/www.khaitan.org\/blog\/wp-json\/wp\/v2\/posts\/687\/revisions\/708"}],"wp:attachment":[{"href":"https:\/\/www.khaitan.org\/blog\/wp-json\/wp\/v2\/media?parent=687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.khaitan.org\/blog\/wp-json\/wp\/v2\/categories?post=687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.khaitan.org\/blog\/wp-json\/wp\/v2\/tags?post=687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}