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Popular Misconception #1 on Earning $ and Creating Wealth

Updated on November 6, 2014
Tom Sawyer
Tom Sawyer | Source
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TEN POPULAR MISCONCEPTIONS ABOUT MONEY AND BUSINESS

The following article was written in 1985, however most of it sounds like it was written yesterday. Not much has changed in twenty-five years. Reprinted from Born to be Rich.

All of us have ideas and theories about work. We often accept a lot of half-baked notions from our parents, teachers, associates, the media and the government. Most often, we are told half-truths or total fallacies which seriously harm us.

Believing a misconception is far worse than not believing anything. These misconceptions can quickly become a part of that which we carry around inside of us and eventually become an integral part of our thinking process.

When we begin making lifetime decisions based on misconceptions, our lives can very quickly become confused. Yet many of us place these misconceptions into play every day, never knowing that there might be another answer.

Only a few of the widely held and dogmatically practiced misconceptions are discussed in this chapter. As you read each misconception, try to envision a person you know who practices it. You may have to admit that you have some misconceptions of your own.

Now that these shams have been brought to your attention, concentrate on the manner in which they have affected your life. Perhaps the release of any of these will help to unlock the door to wealth for you.

No.1 -- Working Hard Assures Your Success

You certainly will not achieve anything without working diligently but it is also entirely possible that you could work very hard and become a complete failure.

Very often working hard will result in getting fired or losing a promotion. Other forces are at work here. If you wish to become president of the company, you might be smarter to marry the boss's daughter rather than put in long hours.

When I was attending college, a roommate of mine was being interviewed for the school newspaper. The reporter asked my roommate what he planned to do when he graduated. My roommate replied that he was going into the hardware business.

"Where would you obtain capital? Where would you locate the business?" I asked.

He seemed to evade my questions and finally admitted his dad owned a wholesale hardware distributing business with an inventory of over a million dollars. He was going to work for his dad.

Five Millionares tell their Secrets

A televised talk show recently featured five self-made millionaires who freely discussed how they made their fortunes. The final guest was a billionaire, Bunker Hunt, who sheepishly took his seat with the other millionaires.

While the others were very vocal about their accomplishments, Bunker remained like a clam. After several minutes of prodding from the talk show host, Bunker finally admitted he wouldn't have the foggiest notion about how to earn a million dollars from scratch since his wealth was inherited! The guests were supposed to be slef-made millionares and someone had made an error!

Buckets-of-Sweat Syndrome

In George Orwell's Animal Farm, the buckets-of-sweat syndrome was encouraged for the animal workers, particularly the horse. The leaders convinced the horse that he should work many long, grueling hours and promised him great rewards for his efforts. In the final chapter, the horse became ill one day and was promptly escorted to the glue factory.

Hard work will often spell the difference between success and failure, but we often overstate its value. Other factors, like having a sense of purpose, achieving goals and working smarter are all equally as important.

~*~

Create Wealth by caring about others.

This article from Born to be Rich


Discover the Wealth that has always Belonged to you

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    • Cyndi10 profile image

      Cynthia B Turner 

      2 years ago from Georgia

      Hello Reynold, It is so difficult to replace those misconceptions about work and its mythical equation to how much you will earn in your lifetime and why you will earn it. It's also very hard not to pass those misconceptions on to your children. As the commenters have pointed out, if hard work equated to riches then the ditch diggers, the coal miners, diamond miners, etc. would all be extremely wealthy because they all work extremely hard. On the contrary, generally its the owners (and/or their children) of the mines who become wealthy. They may have worked hard for a short period, but as you say, it was hard work with a definite, measurable goal in mind. Thanks for the excellent hub. Take care.

    • Reynold Jay profile imageAUTHOR

      Reynold Jay 

      7 years ago from Saginaw, Michigan

      "Grace" works for me.

    • Enlydia Listener profile image

      Enlydia Listener 

      7 years ago from trailer in the country

      I think we have been taught wrong...yes, hard work is good, but it is not always rewarded...in fact sometimes it seems otherwise...Sometimes I feel that grace is the best rewarder.

    • Reynold Jay profile imageAUTHOR

      Reynold Jay 

      7 years ago from Saginaw, Michigan

      Hi Sue--It holds a lot of people back. Thank you for being my #1 Hub buddy!

    • profile image

      Sueswan 

      7 years ago

      "Believing a misconception is far worse than not believing anything."

      How true.

    • Reynold Jay profile imageAUTHOR

      Reynold Jay 

      7 years ago from Saginaw, Michigan

      Oh my gosh--You have summed up my entire book! Let's keep this quiet casue I got a few copies to sell. Thanks RJ

    • dallas93444 profile image

      Dallas W Thompson 

      7 years ago from Bakersfield, CA

      The ditch-digger works the hardest, but receives the least amount of pay. It matters not if he has a goal, or plan. The owner makes the most money and he often does the least amount of work. The key is how you define "work." Work may include responsibilities... The owner has more responsibilities and "works" to fulfill them.

      The work pyrimid is the more you "work," (in terms of manuel labor) the least you get paid...

      Becomming a millionair is simply a record system of keeping score. Winning the "game" of life in terms of making money is an elusive process. Money buys choices... that is it! The commitment required to be a millionair is varied as there are millionairs.

      The most common charastics of millionairs are:

      1. They don’t blame 2. They are decisive. 3. They trust their intuition. 4. They are singly focused on their CORE business. 5. They are marketing focused. 6. They understand the importance of continuing education. 7. They are not afraid of making mistakes. 8. They model their business for success. 9. They build a team to rely on.

      Bottom line, millionairs creates, duplicate and delegate...

      Flag up!

    • Reynold Jay profile imageAUTHOR

      Reynold Jay 

      7 years ago from Saginaw, Michigan

      Hubs works for me. IT's a great way to be creative, earn a tiny bit, and learn from others.

    • trecords0 profile image

      trecords0 

      7 years ago from DeLand, Florida

      One would think that writing hubs would be working smarter. Guess that's reserved for the geniuses.

    • Reynold Jay profile imageAUTHOR

      Reynold Jay 

      7 years ago from Saginaw, Michigan

      Yep--Let's all get sychnchronized and get those HUBS up and running! The world cannot live without us!

    • Gypsy Rose Lee profile image

      Gypsy Rose Lee 

      7 years ago from Riga, Latvia

      Hard work and never ending planning ahead is the wåy to go. A kind of get up and go hub. Great!

    • Reynold Jay profile imageAUTHOR

      Reynold Jay 

      7 years ago from Saginaw, Michigan

      I gotta work on developing a plan too!

    • Hyphenbird profile image

      Brenda Barnes 

      7 years ago from America-Broken But Still Beautiful

      A hard worker with a plan will become successful. A hard worker without a plan will become an employee. Gotta run and perfect my plan:)

    • Reynold Jay profile imageAUTHOR

      Reynold Jay 

      7 years ago from Saginaw, Michigan

      Yep-- you gotta use your head these days.

    • Pintoman profile image

      Pintoman 

      7 years ago

      Also the difference between a work-a-aholic and someone with definite goals. You can work tons just for the sake of working, or you can work towards a goal. Success not guaranteed.

    • Reynold Jay profile imageAUTHOR

      Reynold Jay 

      7 years ago from Saginaw, Michigan

      And Bunker got involved in a scheme to corner the silver market and nearly lost it all!

      Poolman--Yes, luck is something earned. To the casual observer it is luck. To hard working indiviuals , they know better.

    • profile image

      Old Poolman 

      7 years ago

      An interesting and thought provoking hub.

      I read once where a professional golfer made a nearly impossible shot, and one of his fans said "Wow, you sure are lucky." The professional golfer looked at him and replied, "Yes I am, and I notice that the more I practice the luckier I get."

      With moderation, this same theory can be applied to work. Success is a series of goals, planned and completed in the necessary order to reach the ultimate goal. Few are ever truly successful just by working hard 16 hours per day and hoping for success.

      However, short of winning the lottery, all degrees of success require hard work. Little is to be gained from sitting on the couch watching TV all day and wishing for success.

    • christopheranton profile image

      Christopher Antony Meade 

      7 years ago from Gillingham Kent. United Kingdom

      This article really cheered me up Reynold. I especially enjoyed the story about Bunker Hunt.

      What a fine position he was in. All that money, and never having to work.

    working

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