Can you really get rich overnight?
Shoemoney published a short video today in response to hearing that question one too many times the last week. Jeremy looks a little tired and perhaps a bit annoyed in the video, but he makes a couple of very good points about making money that I wanted to pick up on here.
First the video.
See, doesn’t Jeremy look tired?
A little over a year ago Markus Frind seemingly burst on the scene by starting a thread on Webmasterworld about how he made a million dollars in AdSense over three months. It set off a debate about the possibility of getting rich with AdSense and to most people Markus was an overnight success. If you followed the story at all or checked on Markus’s posting history at Webmasterworld you can see that Markus spent a number of years working hard for that success.
A lot of work goes into being successful. While some people might get lucky and happen across the right idea at the right time, most people put in years of effort prior to the rest of us hearing about their success.
Opportunity is always right in front of you. The trick is in recognizing it and having prepared enough to be able to capitalize on it. Yes you can be an overnight success, but it takes years of preparation to be ready for that seemingly overnight success.
Jeremy also mentions markets being cyclical. Most things go in and out of fashion. If you can stay ahead of the curve and see which markets are coming back into fashion you can prepare for their arrival and make money fast. That money might not last long as fashions once again change, but the money you make in one market can be invested in the next.
Most people generally don’t become millionaires overnight. It just seems that way because the rest of us don’t see all the prep work that went into capitalizing on an opportunity or capturing a passing market. It takes work and effort to be successful. Now stop sending Jeremy emails asking for the secret formula.