Opportunities Are Everywhere
“The future belongs to the risk-takers, not the security seekers. The more you seek security, the less of it you will have, and the more you pursue opportunity, the more security you will achieve.” -Brian Tracy
Rich dad said, “The more a person seeks security, the more scarcity they will have in their life. Security and scarcity go hand in hand. That is why people who seek job security or guarantees are often people with less abundance in their life. One of the reasons the 90/10 rule of money holds true is that most people spend their lives seeking more security instead of seeking more financial skills. The more financial skills you have, the more abundance you will have in your life.”
If you don’t know what the 90/10 rule is, let me explain:
Throughout history, 90 percent of the money has been made by 10 percent of the people. For instance, 10 percent of the athletes make 90 percent of the money made by all athletes. This is one of the rules of money that rich dad taught me. One reason the 90/10 rule has applied is that 90 percent of the people choose comfort and security over being rich. Most of these people do not realize they could choose to be rich.
While the 90/10 rule still holds, it’s being challenged by the changing circumstances that the Information Age introduced. Thanks to the electronic revolution, it is now possible for more and more people to gain access to the world of wealth, for wealth now resides in the information that flies over the airwaves and computer networks. Information is not restricted to the few, as land and resources were in past ages.
The Internet epitomizes this avenue toward wealth, for it enables the masses to gather information and interact with one another in almost complete freedom. Today it’s possible for people to take their ideas and build products or services around them. Network marketing, the selling of consumer goods, investing, and publishing are only a handful of the thousands of online activities that have been launched by aspiring entrepreneurs and savvy investors.
The pressure of the Information Age is going to shatter the old 90/10 rule. It has never been easier to choose to be rich.
These same financial skills give people the power to take an opportunity and turn it into millions of dollars. Most people can see opportunities. They just cannot turn that opportunity into money. That is why they often seek even more security. Rich dad also said, “The more a person seeks security, the less they can see of the opportunities that abound. They see only one side of the coin and never see the other side.”
That is why the more they seek security, the less opportunity they see on the flip side of the coin. As the great baseball player, Yogi Berra, once said, “Strikeout just 7 out of 10 times and you’re in the Hall of Fame.” In other words, if he came to bat 1,000 times in his baseball career and if he struck out only 700 times, he would be in the Hall of Fame.
After reading Yogi Berra’s quote, rich dad said, “Most people are so security conscious that they live their entire lives avoiding striking out just once.”
My rich dad said, “Investor basic rule number five is that a true investor is prepared for whatever happens. A non-investor tries to predict what and when things will happen.”
“What does that mean?” I asked.
“Have you ever heard someone say, ‘I could have bought that land for $500 an acre 20 years ago. And look at it now. Someone built a shopping center right next to it, and now that same land is $500,000 an acre.’?”
“Yes, I have heard those stories many times.”
“We all have,” said rich dad. “Well, that is a case of someone who was not prepared. Most investments that will make you rich are available for only a narrow window of time—a few moments in the world of trading or a window of opportunity that is open for years, as it is in real estate. But regardless of how long the window of opportunity is open, if you are not prepared with education and experience or extra cash, a good opportunity will pass.”
“So how does one prepare?,” I asked.
“You need to focus and keep in mind what others are already looking for. If you want to buy a stock, then attend classes on how to spot bargains in stocks. The same is true for real estate. It all begins with training your brain to know what to look for and being prepared for the moment the investment is presented to you. It is much like the sport of soccer. You play and play, and then all of a sudden the winning kick at the goal appears. You’re either prepared, or you’re not. You’re either in position, or you’re not. But even if you miss the shot in soccer or in investing, there is always another shot at the goal or another opportunity-of-a-lifetime investment right around the corner. The good news is that there are more and more opportunities every day, but first, you need to choose your game and learn to play the game.”
I responded, “So that is why you chuckle when someone complains about missing out on a good deal or tells you that you must get into this deal or that deal?”
“Exactly. Again there are so many people who come from the mindset that there is scarcity, instead of abundance, in the world. They often cry about missing a deal and hang on to a deal too long thinking that it is the only deal, or they buy thinking that what they are looking at is the only deal. If you’re prepared, there is a deal of a lifetime being presented to you every day of your life.”
See the Opportunity
Rich dad said, “The rich get richer because they learn to solve financial problems. The rich see financial problems as opportunities to learn, to grow, to become smarter, and to become richer. The rich know that the higher their financial IQ, the bigger problems they can handle, hence the more money they make. Instead of running, avoiding, or pretending money problems do not exist, the rich welcome financial problems because they know that problems are opportunities to become smarter. That is why they get richer.”
One of the first steps to getting richer by getting smarter with your money is to take advantage of opportunities when they present themselves.
Imagine two men walking down the street on a windy day. A piece of paper blows along the sidewalk in front of one man, then the other. The first man ignores the litter, keeping his eyes on the block up ahead. The second man peers at the scrap and realizes it’s a $20 bill and picks it up. Is that person luckier? No. The same opportunity crossed the path of both men, but only one of them was prepared to take action.
When it comes to financial matters, it’s important to keep your eyes and ears open and to know where you are. Only then will you spot an opportunity when it crosses your path.
Today, more than ever, there is opportunity for success all around us.
Editor, Rich Dad Poor Dad Daily