When it comes to money, most people make the mistake of focusing on the money itself.
And as we learned in previous articles in this series, money has no “actual” value.
In fact, money today is “fiat currency.” That means it’s not backed by anything with intrinsic value (like gold or silver, for example). These days it’s just paper (which itself is only worth a few cents at most … or it’s just numbers on a screen!).
That’s why today I want to help you “realign” your focus when it comes to making money and building wealth … and share with you the 3 games you must master to become wealthy.
But before I reveal what these 3 games are, it’s important you really understand what “grows” money in the first place – something I call the Wealth Formula.
The Wealth Formula = V > M > A > W
So if focusing on getting money is the wrong thing to do …
What actually “produces” or “grows” money?
The answer is the Wealth Formula.
It states that:
VALUE is what creates MONEY.
Then with that MONEY you go out and build ASSETS.
Those ASSETS spin-off more value and money, creating WEALTH.
So it’s VALUE > MONEY > ASSETS > WEALTH.
Which means the most important thing in the entire formula is VALUE.
Creating value is what grows money – allowing you to acquire assets and build wealth.
See, so many people think that currency or money is what’s safe and secure. They don’t realize that at any point in time, the “value” of money can change in an instant.
Things like inflation, deflation, etc can cause the value of “money” to crash. It’s happened before in history where entire currencies have crashed and become worth ZERO (and it’s even happening today certain countries).
So that’s why security isn’t found in the money. It’s found in VALUE.
Value is where it all starts. When you can create value in people’s lives, money will flow as a result.
The more value you can give to more people, the more MONEY you’ll make.
Which means …
To the extent you can create value for others you can build wealth.
I can’t emphasize this point enough.
Memorize this. Make it a mantra for the rest of your life. If you’re serious about becoming super-wealthy, then make it a point to give as much value as you can.
Think about it:
What separates Jeff Bezos, from say, the owner of a local “mom n’ pop” retail store that sells similar items?
It’s the impact they make.
Jeff Bezos’ Amazon.com gives value to literally tens of millions of people each and every single day – through free shipping, low prices, easy accessibility to all kinds of items, super-fast delivery, entertainment through Prime Video and a whole lot more.
The local mom n’ pop store is giving value, yes. But only to a small fraction of the tens of millions of people Amazon is.
That’s why Jeff’s the richest person in the world (as of the time of writing this article).
The 3 Games You Must Master If You Want To Be Wealthy
Alright, so here are the three games you need to focus on to become wealthy and leave a legacy. Also, it’s important to understand that you don’t play one game, then stop playing it and move on to the next.
These 3 games are played all at once. The idea is to work on all three and continually play them to the best of your ability.
1) The Game Of Self-Direction
This is ALL about managing your behavior and as a result, your productivity. What things are you doing with your time? Are you focusing on the activities that matter? That gives you the most leverage in your life and business?
If not, it’s time to start playing this game and REALLY mastering it.
2) The Game of Value Creation
The second game is the game of value creation.
As we’ve learned so far, this is all about giving value to others … and then figuring out how to give value to the greatest number of people.
The more you can do this, the more money you will make, which leads us to the third game …
3) The Game of Wealth Building
As you start making money, it’s time to acquire assets which produce even more value.
This is where learning how to invest becomes critical. This game is played by understanding how investments and assets work, and then figuring out how to grow more assets that are giving off so much value, the natural result is actual WEALTH. This can be in a number of domains, including acquiring other businesses, real estate, and even relationships.
Now, just know that you’re never really “done” focusing on these three games.
This is not a short-term thing.
The idea is to focus on all three games over a long period of time. And if you’ll commit to that – truly commit – then you’ll wake up in a much better future … with much more control over your life (and a lot wealthier!).