We all recognize the importance of having financial resources, particularly as business owners. However, there are many individuals who launched their ventures without any capital and went on to achieve great wealth. What was their secret?
I believe there exist nine assets that surpass monetary capital, assets that can directly lead to your success:
1. Time
Time is invaluable—it’s the time you intentionally allocate to pursuits that should not go to waste, nor should it be squandered. Investing your time in activities that generate value in the marketplace with an aim to earn profit is what I call capital time.
How crucial is time? When utilized wisely, time can generate immense wealth; conversely, wasted time can lead to ruin. Investing your time can achieve remarkable results—so make the most of yours.
2. Desperation
My friend and mentor, Bill Bailey, moved to Chicago as a young adult after completing high school. His first job was as a nighttime janitor. When someone questioned him, saying, “Bill, why would you accept a role as a night janitor?” he replied, “Malnutrition.” Though he began his career as a janitor, he eventually earned the Horatio Alger award and achieved significant wealth—he exemplifies the kind of lifestyle transformation I admire.
Desperation can serve as a formidable driving force when you declare: I must. When you feel the hunger, you pursue any opportunity available. You seek employment wherever it may be.
3. Determination
I have another friend named Lydia, who initially approached her new business venture from a place of desperation as well. To support her children, she invested one dollar into something she believed in. That single dollar went toward purchasing a few flyers to make retail sales, which allowed her to collect funds and then buy the products wholesale for her customers.
Initially, Lydia asserted, “I must find a customer”—a plea fueled by desperation. Then she committed, “I will locate someone before this day concludes”—a demonstration of determination. And indeed, she secured a customer. Determination conveys: I will.
4. Courage
If you possess only one dollar and an abundance of courage, you are poised for a bright future. Humans are capable of extraordinary feats regardless of their circumstances—courage stands firm in adversity, not due to it.
5. Ambition
Thanks to her courage, Lydia closed several additional sales. Once her momentum built, ambition took the reins. She imagined, If I can sell three, I can sell thirty-three. If I can sell thirty-three, I can sell one hundred and three. Lydia was captivated by her aspirations for the future.
6. Faith
At this juncture, Lydia began to trust in her product and her company. More significantly, she started to believe in herself—Lydia, a single mother with two kids and no steady job. Oh my, I’m going to make it! This realization boosted her self-esteem.
Faith stands as an unparalleled investment. Financial resources can’t compare. What if you had a million dollars but lacked faith? You’d be impoverished regardless of your wealth.
7. Ingenuity
Lydia’s rise to millionaire status can be attributed to her ingenuity—she harnessed her intellect effectively.
You’ve likely harnessed only a fraction of your cognitive power thus far. Imagine if you could tap into the remaining potential! The possibilities are staggering. Humans are capable of devising the most creative solutions.
What value does ingenuity hold? It’s worth a fortune. All you need is one dollar and a wealth of creativity. Discovering ways to make things work is key—persisting, persevering, and succeeding.
8. Heart and Soul
Heart and soul represent the unseen forces that inspire action—prompting decisions, motivating individuals to act, encouraging responses.
Is there a substitute for heart and soul? Not in the form of currency, as heart and soul surpass monetary value. A million dollars without heart and soul? You lead a hollow existence with no impact.
9. Personality
My mentor, Bill Bailey, advised me, “You need to be at ease whether you’re in a simple cabin in Kentucky sharing a drink and watching fights with my friend Winfred or a grand mansion in Washington, D.C., as a guest of the senator.”
You possess ample personality. The task is to refine and hone it so that it resonates effectively in daily interactions—at home or anywhere—regardless of whether you’re speaking to a child, a business executive, a wealthy individual, or someone struggling financially. It doesn’t matter who is affluent and who is not; it’s about creating unique connections with others. Cultivate a personality that is relaxed and engaging; one that is graceful and approachable, embodying charisma, sophistication, and humility.
With just one dollar and this collection of insights, the entire world is open to you. It belongs to you, whichever aspect you wish to pursue, whatever goals you desire for your life. It’s a type of capital more precious than money, capable of securing your future and prosperity. Always remember, you possess the necessary resources.
