and then there's you you're working hard in a job you don't particularly like living out your perpetual groundhog day where you get paid enough to survive but not enough to really live we do that for 40 years and then we die now i don't know why you clicked on this video maybe you thought it was just a meme or a nostalgia trip but if you watch this video to the end i honestly think you'll learn more about making money than you did during your entire school education which actually isn't saying a lot school doesn't really
teach you much about that but anyway sit back relax because this is the first ever video made using spongebob clips that will teach you how to get rich [Music] there are four rules you need to know but rule number one is be the employer not the employee when you're an employee working for someone else you get paid a set amount of money per hour or per month or per year essentially you're trading your most precious resource your time in exchange for money which means there's always a limit on how much money you can make because
your time is limited the reason mr krabs is portrayed as the richest person in the show is because he's the entrepreneur he makes money even whilst he's not working because he's hired employees to do the work for him and not only does he own the krusty krab he sets up countless other businesses too the krusty towers crabby land krusty sponge country now i know what you're thinking to start a business i need lots of money in the first place right wrong the internet has totally changed what's possible quite literally anyone can start a business from
the comfort of their own home because to start a business doesn't need to be something elaborate you just need a product or service and customers willing to buy it and then you're in business let's look at an example maybe you have a particular skill or interest other people would like to learn you could create a free youtube channel post educational videos teaching others and you'll get paid the more views they get you'll also be able to get sponsors and brands to pay you even more money to promote their products within your videos using the profits
from that you can then hire other people to help you make even more videos which means you can earn even more money you'll also then have time to start creating some paid premium products for your loyal fans who want to learn even more from you so maybe you set up an on-demand course with all your best lessons and you can sell that as a digital product over and over again with no additional work required on your parts congratulations you now have multiple revenue streams bringing in passive income and it cost you zero dollars to get
started now that's just one of many possibilities and just because it's simple doesn't mean it's easy however the principles are always the same the people who get rich are generally the ones who stop trading their time for a set wage within a traditional job and instead create something to sell and eventually hire other people to help them sell even more so think how you can become the employer not the employee which brings us nicely to rule number two don't obsess over money obsess over solutions now we get to mr krabs downfall his obsession with money
and sure wanting to make money is good there's absolutely nothing wrong with wanting to improve the quality of life for you and those you care about and money can also allow you to help others and make a positive change in the world however mr krabs is constantly chasing money it's his only driving force behind decisions which is actually counterintuitive that desperation to make money at all costs leads him to become very short-term focused he's always looking to cut corners even if it means alienating his customers sabotaging relationships and reducing the quality of his products the
reality is that building wealth isn't about hoarding money and penny pinching it's not about ripping someone else off and getting greedy i want to see all your money money is really just a store of value and so the more value you can create for the world the more you will typically make in other words you make money by solving people's problems and finding better ways to give them what they want and need which explains why mr krabs is real success is the krusty krab his one business that does provide something people actually want and need
tasty fast food that people love and so this mindset switch is crucial not asking how do i make money but how do i solve problems people have and how do i add value to their lives in some way with my product or service just think of the richest people in the real world jeff bezos founder of amazon created a way for people to buy almost any product imaginable without leaving their house and have it arrive in record-breaking speeds elon musk ceo of spacex and tesla is leading the way in renewable energy and space travel the
bigger the problem you're solving generally the more you'll be financially rewarded it's almost the paradox if mr krabs wasn't so focused on preserving his existing money at all costs he'd almost certainly make more of it if he instead invested in solving problems and creating more value for his customers getting rich doesn't have to be about greed or stealing from others it can be about finding ways to give people what they want and need and then money will come to you rule number three have the work ethic of spongebob not patrick every day you have the
choice to have the work ethic of either spongebob or patrick we all have a voice inside us saying just take it easy chill out i'll do that important thing later but that drive spongebob has to be the best at what he does to keep improving and working harder that's the kind of drive you need because to get to a position where you have passive income coming in where you're running your own business it's gonna take some work up front nobody's just gonna hand it all to you the good news is you get to decide every
day you get to choose where you focus your attention after watching this video will you open up a new document and plan out some business ideas or will you binge watch tv instead the little choices you make every day determine your future and your willpower is like a muscle the more often you make the difficult choice to put in the work rather than lazing around doing nothing the stronger your willpower muscle gets and the easier it becomes it's the same with your attitude and mindset if you in the world quite as depressingly as squidward does
is gonna drain your energy whereas choosing to see things a bit more positively and optimistic has the opposite effect now this doesn't mean you have to become some workaholic who never rests or never parties and it doesn't mean you have to have some ridiculous over-the-top positivity it just means what we choose to focus on is within our control and getting rich really just comes down to focusing on the right things as much as we can it's about holding ourselves accountable to do the best we can and just trying to grow our willpower muscles a little
more every day so next time you've got a decision to make decide which type of person you want to be but now for the fourth and final rule get your money working for you okay so let's say you follow those first three rules you start a business on the side you start thinking more like an employer than an employee you create a low-cost scalable product or service that solves a genuine problem some people have and you work hard at it by this point you're gonna have some money coming in but what you do next is
the deciding factor in whether you really become rich once you start getting money coming in the temptation is to go and buy loads of cool stuff but then you're still in that old pattern of working paycheck to paycheck the people who become truly rich are more long-term focused which means that rather than spending your money as soon as it comes in you invest it so it can turn into even more money now if you do set up some kind of small business often the best investment you can make is back into that business rather than
keeping all the profits instead hire more people or invest in systems and technology that can help automate and grow your business alternatively invest that money into something like stocks do a little research on index funds and start putting some money into that instead of just a normal savings account which has dreadful interest rates the reason this is so powerful is because of compound interest here's an example if from the age of 22 you invested just 78 pounds a month by the time you were 65 you'd likely have over a million pounds saved because the interest
you earn each year is automatically reinvested which means the following year you get interest on the interest and that just keeps on building and building now i know you don't want to wait until you're 65 to become a millionaire but the underlying message is what's crucial here you find a way to make your money work for you invest in some of your income is how you're going to become and stay rich so there you have it four rules to getting rich but before you click away you might want to check out these videos right here
which will give you some more detailed and practical steps to follow if you did enjoy this video though i will love you forever if you like and subscribe and i'll hopefully see you in the next video very soon cheers
