How Information Age Has Changed the Rules of Wealth Creation
Have you ever wondered what separates school dropouts, wealth creators like Bill Gates and Thomas Edison, from the highly educated professionals who rent their brains to the highest bidder?
Specialized knowledge is amongst the most plentiful and cheapest form of service which may be harnessed! If you doubt this, refer the payroll of any university.
Knowledge one needs to create wealth is totally different and must never be confused with the formal education offered in schools and colleges. Thomas A Edison had only 3 months of schooling during his entire life; he did not lack education, nor did he die poor. The same is true for Henry Ford and Dhiru Bhai Ambani (a grass root Indian entrepreneur,) whose son Mukesh Ambani, may soon be challenging Bill Gates for the title of the richest man.
Why so few wealth creators?
Why is it that we have such a limited number of wealth creators? What holds us back? The problem lies in our educational systems, society and family beliefs that were created during the industrial age. In those days, wealth remained in the hands of powerful governments or a very few rich people.
The education system in the industrial age was designed to cater to industries working towards mass production. People aspired to work for the government or in a corporation. In the industrial age, the concept of professional education to find jobs became popular. Idea of ‘job security’ or ‘one job for life’ took root. You worked your way up the corporate ladder and once you retired, the company or the government took care of your needs. The standard of living went up for most people. Remember the Sixties…we lived in a dream world…then, man stepped on the moon and everything seemed possible. Unfortunately, the party did not last for long.
Problems and Opportunities in Information Age for Wealth Creation
The Industrial age systems took a couple of centuries to formulate. The information age has crept up unsuspectingly, and has taken hold of our lives. It started with the advent of personal computers—and the internet has created a virtual world where thoughts, ideas and information fly across the globe with the ease of a click.
Exchange of ideas that ushered the industrial age due to the advent of the print media is now happening at over a billion times faster pace due to the internet. The new information age has completely changed the rules of the game; one that lasted for centuries. Knowledge knows no international boundaries, nor does capital. It flows to wherever the economic environment is more favorable and there is possibility for money to be made.
Corporations of the past are downsizing, reducing their workforce and hiring consultants/ temporary workers to cut down on costs. Workforce has become very mobile and long-term relationships between employers and employees is a thing of the past. As a result, more and more people are being forced to take responsibility for their financial futures and security. This is causing an unbearable amount of stress on people not adapting to the change.
The gulf between the rich and the poor is widening; the middle-class-which grew as a result of the industrial age-is rapidly vanishing and slipping into the abyss of poverty. They cannot make their ends meet and are confused.
The ever-increasing pace of technology is reducing product life cycles. Robots are replacing humans. Jobs are becoming redundant. To survive in this rapidly changing world, there is a need to continually reinvent yourself.
With advancements in medicine, health standards improved. Infantile death rates went down, epidemics were controlled and lifespan increased. This had a dramatic effect on the ratio of the retired population to working population that paid taxes to support the social security system. The governments and corporations no longer have the money for the social security system that they created.
The choice before us is either to learn and adapt or perish in this new world.
The good news is that we live in one of the most exciting times in our history. With the dawn of the information age, old rules have given way to the new. It no longer takes ‘money to make money.’ In this new world, ‘money is just an idea.’ Ideas can be converted to money, very much like Einstein’s famous equation wherein matter can be converted into energy.
It takes ‘value addition’ to create wealth. The cost of material in a plastic micro-chip is only 0.1% of the selling price. This is true for any hightech product or service. It is knowledge that gives value addition.
People who have grasped this essential change are the new wealth creators. Bill Gates, a boy from a middle-class family and a college dropout, was one of the first to understand this paradigm shift and act on it. No wonder he became the richest man in the world. A generation of billionaires and millionaires followed suit.
In the new world a millionaire is being created every 60 seconds. There are hundreds of self-made billionaires who are in their twenties and thirties. This pace will only hasten as it is just the beginning of the new age.
The next 50 years will give rise to a new generation of wealth creators who will overtake the giants of today. Are you the next millionaire or the next billionaire? It has never been simpler.
Convert Ideas into Money
Information age makes it possible to start a new business or convert an idea into money with relative ease. But unfortunately, most of us are still saddled with the old mindset. It is the age of new thoughts, ideas and wealth creators. Those who do not grasp this new knowledge will be left behind.
This website contains information to draw you out and develop you from within. It is about removing chaff from the wheat and going right into the heart and fundamentals of wealth creation as a process which will help you become an enlightened millionaire whether you are in business or an investor, or aspire to be one.
There is no greater creativity or nobler cause than becoming an enlightened millionaire. The good news is that anyone can do it without exception, even if you don’t have a dime in your pocket. By creating wealth, you change not only your future but that of those you love and the ones who come in contact with you. Statistics show that one millionaire creates 10 jobs directly or indirectly, and a billionaire 10,000 jobs. There is no greater charity or worthier cause than trying to become an enlightened wealth creator.
Once you understand the principles and acquire the right mindset of a wealth creator, you will be like a magnet attracting riches. Money will come to you so quickly and in such abundance that you will wonder as to where it had been hiding during the lean years. So, start now—take one step at a time. A long march of thousand miles starts with the first step.
