I picked up my copy of the BRW Young Rich list last week. I made the same joke I do every year to my wife, “look a whole BRW issue about me” however her comeback this year stopped me in my tracks… “You are not that young anymore”.
She was right. At 35 I am approaching middle age at an ever increasing rate of knots and given I haven’t planned much past 70… I am here right now, the middle of my days on the planet.
I didn’t let that bother me too much, what did inspire me though was how the rich list is composed.
Total Wealth of the list – $5.763 Billion
Average Wealth – $65.5 Million
But for me the most important statistic – 21 of the 100 entrants were involved in technology.
One in particular was a well known web development company owner (that recently sold his company). Others were involved in mobile messaging, internet startups, service providers, and other niches, but we aren’t talking about IBM type companies here. We are talking about Young Aussies who had an idea (or 3) and had the guts, determination and passion, to see through the tough times and achieve their dreams.
No one sets out to be on one of these lists, but it is a recognition that you have been noticed and are admired for doing a good job (in most cases).
In the landscape of the world market, a lot of these young rich don’t rate, but who cares, because in their market they dominate, and the fruits of their labour will go a long way. I remember reading an article that said to be happy you have to earn $160,000, anything over that just caused stress again.
So what idea have you been sitting on that could see you in this list?
Starting an internet business these days is easier and quicker than ever before, but you must be answering a need in the market to be truly successful. Find an edge over your competitors and give something a go. We are working on some really exciting projects at the moment that have the potential to turn over at the very least 6 figures every year. For an investment of under $30,000 that will be a very good return, maybe not list worthy, but certainly life changing.
For me, I would like to appear on this list just once, just to see what they do for a corny article title… Rich is rich at last? But appearing on a list like this does not drive me.
Building a sustainable business that is worthy of being on this list, that’s what drives me. We have started on this plan and have been going along quite well, overcoming all the bumps and hurdles that get put in our way, however, maybe I am running out of time to be on this list… there’s only five years left!