The many faces of wealth-building.
In Silicon Valley, a lot of people have been fortunate enough to do quite well financially. And having worked as an engineer around here for almost two decades, I witnessed both some highs and lows in the technical and financial front.
As I’ve mentioned in my profile, there have been people whose lives where literally rearranged because of the dot com era of the 1990s. Some of them were people I had at one point worked with or known, who belonged to the 5% or so who stumbled into a lucky startup that made it somewhere. In reality, out of the myriad number of startups that littered this place then (and even today), only around 5% – 10% may find some kind of success and only around 5% or less will strike it quite big. That’s based on my own perspective and personal experience as someone on the bottom floor, so I can’t tell you if those numbers are accurate as per some econo-scan.
But returning to the subject of financial success, the good news is that a lot of people I’ve been fortunate to have encountered (mostly through past jobs) have done well by employing various schemes and exploiting their skills in one area or another. If there’s anything I learned from meeting them, it’s that opportunities abound everywhere and it’s up to ourselves to make the most of what’s handed us.
Profiles and Strategies Of Some Typical Wealth Builders
These are the stories and financial plans of ambitious, hard-working people I’ve met.
#1 The Real Estate Investor
There’s this guy who took “Kiyosaki’s Rich Dad, Poor Dad” series to heart and actually embarked on a real estate investing rampage starting in 2003. It was prompted by a family crisis involving his disabled child, during which he realized the worries of a parent who wondered how his child would be taken care of once he and his wife could no longer do so. Being in California, it was easy for him to build up equity, take it out and apply it to real estate ventures all over the nation. He now owns around 15 houses in various states and is somehow managing this “empire” on his off days from his engineering job. Kudos to him. By the way, there’s also a way to fail at this too. Main Asset: Hard Work
#2 Stock Market Investor
Everyone’s doing this as far as I know, simply by investing in their retirement plans. With the huge number of plans available these days: 401Ks, 403Bs, IRAs, pension plans and such, there’s no way you’ve escaped building wealth in the last 20 years. What I do find a little frustrating is that while people invest well in their retirement plans, they don’t do so well with their disposable income. Some of my acquaintances view their retirement accounts as their “serious money” while their disposable income is treated as “play money”. From a casual poll I conducted among colleagues, I found that most weren’t sure what to do with their non-retirement funds which could be either stuck in cash and CDs or used to do wild, aggressive trades. A read of these books could help: The Random Walk Down Wall Street or Asset Allocation: Balancing Financial Risk. Main Asset: Persistence
#3 Stock Market Trader
This other guy does stock trading part-time and seems to be quite successful at it. Sure there was a time (circa late 1990’s) when lots of people tried their luck at day trading and eventually fizzled miserably. But this guy is good. But that’s because he’s some kind of software genius and mathematical whiz. If I were a betting woman, I’d back this guy on any trade he makes. He says that 99% of wannabe traders are going to lose out because people like him are there to scalp the noobs. Is it arrogance? Perhaps. But he’s hard-working (sleeps 3 hours a night so he can trade after work), is skilled and talented at technical analysis, and has done his homework on that Forex stuff. He’s also very low key but I can sense that “Millionaire Next Door” aura. Main Asset: Genius
#4 Serial Startup Hopper (or Juggler)
Now here’s the typical way people try to get rich around Silicon Valley and it was the norm in the 1990’s. It actually worked for a few former colleagues. I admit, I joined a startup myself but that didn’t pan out. Instead, I lost out on $13,000, the amount of money I spent to own my stock options on the penny in order to maximize potential return in case the startup I joined actually succeeded. It didn’t work for me, but it did others, who amazingly went from one successful startup to another, raking in stock options that made them millions with every stint. There was this regular engineer who managed to build a massive fortune by just being at the right places at the right time. He then eventually bank rolled his money into a company he founded that netted him at least double his net worth in a span of 8 months. Life flies around here I guess and some were born with a clover leaf tattooed on their bum. Of course that is the exception, but you can’t help but find inspiration in that. Main Asset: Luck
#5 Consultant (or Contractor)
This has worked well for those who ride any kind of job boom such as the tech wave in Silicon Valley in the previous decade. Depending on the job market, this can be a lucrative strategy. During a tougher job market, then your skills and knowledge will be responsible for getting you those higher consulting fees. If you want a big income as a consultant, it’s all a matter of being an expert in a competitive field. Or being the only one offering such a service. Main Asset: Skill
#6 Web Site Creator / Internet Guru
We’re saturated with web sites everywhere but the internet is something I’ve always loved. It’s a source of great alternative income for those who care to stay committed to it. It’s also the new-fangled way that people are building their wealth. Just check out the domain hoarders out there, some top bloggers or web site creators who’ve found success. Lots of small business owners are earning a good living this way. Main Asset: Creativity
#7 Traditional Business Owner
There was this guy who repaired our fence one time, and he told me how he now owned a bunch of real estate in some affluent areas in the Bay Area. A couple of enterprising friends who graduated with landscaping degrees now own thriving businesses serving the wealthy. There’s a market to be tapped here — a lot of financially successful folks actually own businesses who service well-paying clientele. With such businesses addressing this niche, it didn’t take long before the business owners began owning some pretty good real estate right by their customers! Main Asset: Enterprise
#8 Startup Founder
I’ve already mentioned how regular people can try to launch a startup on their own, though success here is sporadic. People who get into this somehow enjoy the journey regardless of how things turn out. Here’s a not very well kept secret. My spouse is involved in an entrepreneurial scheme right now at a startup. He’s been at it for a year full-time and bootstrapping it through our savings. Another secret was that he’s done this before and is basically what you call some kind of “serial entrepreneur”. Here’s what I’ve learned about this: it’s far from a job and it’s not just a business but a lifestyle. It’s something you can’t fight, which I learned the hard way. Main Assets: Guts and Sacrifice
#9 Frugalist/Coupon Clipper
You can’t go wrong with being frugal. No matter how much you make, if you aren’t living within or below your means, you won’t be getting too far ahead. We’ve got teachers in our family who saved and scrimped all their lives. It allowed them to buy real estate many decades ago when the Bay Area was still easily affordable. Their ways allowed them to trade up with time and ride the real estate boom here. With their teachers’ salaries, it wouldn’t have been possible without their frugal saving habits to bank on. Given the much tougher cost of living situation we have today, I’d offer a suggestion (not an original one by any means): find a cheaper, promising, developing part of the nation, move there, work a decent living and be frugal. If we did this, we’d probably have the same luck as my relatives enjoyed 30 years ago. Main Asset: Frugality
#10 The Careerist and Professional
This is your quintessential corporate guy. Sometimes I get very annoyed by people like this, whom I’ve had the fortune to meet several times throughout my career. They are obviously very ambitious and are out there to climb that career ladder, and can they play office politics! Blech! But still, it’s a way to success and if you’re built with a lot of tolerance for this sort of “game”, and you see yourself rising up the corporate chain and making $7 million a year as a big company CEO, then my hats off to you.
Main Asset: Ambition
What is noticeable here is that nobody’s trying to make it by winning the lottery (hah!), although that occasional office pool doesn’t hurt. Many have succeeded by having the right skills, education, information, risk management abilities, hard work and drive. When I recall the stories of several co-workers who were children of immigrants who came here but a mere 25 years ago with *nothing* and who are now top engineers in their field, I can’t help but think there’s no excuse for people *not* to be successful. These families sacrificed greatly for their children to make it — with the parents taking jobs as fishmongers, assembly line workers, hotel housekeepers or short order cooks. Many families are at this very moment bootstrapping themselves out of difficult financial circumstances while the rest of us are borrowing ourselves to serious debt. I am awed by the juxtaposition I see everyday between people pursuing the American Dream and those I see squandering it.
Moral of these stories: wealth building is doable by everyone and marvelous when it actually changes the lives of families for generations to come. Here are more thoughts I’ve shared on wealth-building.
Copyright © 2007 The Digerati Life. All Rights Reserved.
{ 43 comments… read them below or add one }
Interesting way of breaking it down!
There are many ways of being successful and not all of them involve money. I’m content with not making a fortune, I would just like to be happy, and one day to retire.
As Robert K once said, “some people have it and some don’t”. The common thread between almost all of those jobs is that they require a gamble and nerves of steel.
I don’t consider frugality a gamble or requiring nerves of steel.
Wow, this was a great article. You’re right, I too am amazed at how those who have nothing are able to work hard to achieve their dreams while those who were born into the middle to upper classes squander their earnings.
I guess ambition and determination are the keys here.
Great article! I enjoyed how you categorized the different ways of being financially successful
Just to clairfy, I said “almost all”. I dare say that of all the above, frugality is probably the hardest to become wealthy with, but not impossible. However, frugality, while the hardest carries the least risk, in my opinion 🙂
I’d like to embark on a real estate investing rampage but I earn minimum wage and have (mostly student loan) debt and (health/hospital related) bad credit.
I have learned that frugality won’t get you far on a minimum wage income.
I have found a few great real estate deals but wasn’t able to fund any of them. So what’s so great about “knowledge” without cash or credit?
Hubby is #5, 7,8, or 10. I’m obviously #9
As someone who is #5, a consultant, I think there’s more than just skill involved. You won’t get far in consulting if you don’t have at least a little salesmanship, unless you have a truly, truly unique skill. Almost nobody has a truly unique skill.
Good breakdown. #9 always depresses me, because I know that I could move to Tinytown, USA tomorrow and have a significantly better monetary lifestyle if not overall lifestyle. I guess I don’t do it because one’s life is not always about the money.
I’m sure there are many other wealth building profiles out there that people embrace in order to make some good income or build their assets. If you know of more, do share!
Here’s my scorecard on those mentioned:
#1 Real estate investing – never yet tried, but will want to try it out someday
#2 Stock Market Investor – I’ve been on this path since 1990, so it’s turned out well thus far
#3 Stock Market Trader – Tried and failed at it. I’m not good at any sort of market timing or stock picking schemes
#4 Startup Hopper – Tried a couple and nothing much panned out
#5 Consultant – I did this for 6 years and it was a boon especially during the dot com era
#6 Web site creator – just started with this strategy recently. So far, things are great and enjoyable.
#7 Traditional Business Owner – N/A
#8 Startup Founder – The spouse is doing this 🙂
#9 Frugalist – I used to be an expert at this, and now, I’m a mere whisper of my former frugal self
#10 Careerist – I’m still on my 9-5 job right now but am working to change things up in the not too distant future!
@Minimum Wage: Knowledge can be good just for the sake of it. You never know when you’ll need it.
@Plonkee: As long as we’re happy with what we’re doing and how much we have, it’s all good :). I’m not aiming to be ultra-wealthy either, but just comfortable and financially independent.
We’ve always been #9, and I’ve also done (and am hopefully doing) #4. We also do #1, and did #8 (unsuccessfully). My wife is a sort of consultant (#5), in that she sells small businesses.
Oddly, for a Silicon Valley denizen, I’ve not been much of a stock market type; just park it in index funds and leave it alone…
I guess we also do some things that are a bit outside the “ordinary” list: we invest in a couple of small (untraded) companies and are in a fund pool that funds “hard money” loans.
really a great article. I like the part where you put the main asset for each category. Nice work!
Wow, great post, just finished reading Kiyosaki’s Rich Dad, Poor Dad so it’s good to hear the multitude of ideas.
However, I will contend with one point: #3’s Main Asset is actually Discipline. Being a successful trader actually only requires you to be “right” a small percentage more than you’re wrong.
For a simple one, imagine that I make 10 purchases and that I sell if I lose 10% or make 10%. All things equal, if I’m right 6 out of 10 times then I’ll be making money. As long as the markets are going somewhere (up or down) this strategy can be used. However, it requires a lot of discipline and ego suppression (and a little extra insight).
The secret that most Traders don’t share or that isn’t discussed, is that they’re wrong, a lot. The wealthy traders don’t bat .900, it just looks like they do, b/c they know how to cut their losses. The top traders are batting like .600 it’s just that they ride their victories more than their losses. What’s more they’re usually running against the grain b/c they have to buying when others are selling and vice-versa.
So again, my vote for #3 is that the main skill is Discipline (and nerves of steel and an accepting ego :).
Great article! Food for thought.
This should be printed out and sent to Democrats who seem to want the government to do everything for them. At the expense of the people who live by this top ten list, of course.
Enjoyed it. I am working my way through the list, perhaps the only one I haven’t pursued at some point is #5 Consultant. Perhaps thats next after I am finished with my #10 career.
Minimum Wage:
It is possible to make progress towards wealth while earning a meager salary. Certainly, it’s not as easy, it takes more sacrifice, and it takes more time, but you can do it. Don’t get discouraged. Tap into your creativity, make the right choices, and keep at it.
Here are some tips…
1. Live frugally. Super cheap. The biggest expenses for cost of living are lodging, food and transportation. Consider locating yourself in an urban area with a large student population. Find a co-op to live in. These are communal living quarters where you pay a monthly rent and contribute a certain number of labor hours in exchange for a room and so many meals a day. This can be great for someone who has a limited budget. It can also be a really fun place to live — and really convenient! Usually you contribute around 4-8 hours of labor to run the household (cooking, cleaning, maintenance or administration), and for that you get all your meals prepared for you! Due to economies of scale, you usually end up eating and living better than you would on your own. The tradeoff is that you are sharing a roof with lots of other people, which can get complicated. Co-ops are popular around college campuses. College campuses are often in urban areas, enabling you to take advantage of public transportation or bike transportation, which is cheaper than using a car. Also, living by a college enables you to attend classes to continually improve your skills and be marketable.
2. Set a budget and stick to it. Figure out what your expenses are. Identify any areas where you can cut that number down, such as paying for cable, eating out for lunch, magazines, cigarettes, etc. For some of these luxuries, look into splitting the cost with friends, such as with magazine or Netflix subscriptions, or go to the library. With some planning bag lunches can become fun projects that can challenge your culinary skills — and they can be much healthier than restaurant food and especially fast food.
3. Don’t use credit cards. Limit use of debit cards. Put yourself of a cash budget and only use paper money. It’s too easy to fall victim to impulse purchase temptation with plastic. If you leave the plastic at home and only carry around cash, once your week’s allocation is gone, you’re done spending until the next week. no mas. this is a great way to force yourself to live within your means. Also, you won’t overdraw your bank account, since you’re only spending what you have in your pocket.
4. Prepare for disasters. Have decent insurance, have a rainy day fund, and have a network for support: family and friends who can work together to help each other when something bad happens. Need a jump when your car battery is dead? It’s a lot cheaper to call a friend than to call the mechanic to come out. There are all sorts of scenarios when having the support of your friends enables everyone to avoid paying strangers for tasks the group can manage together.
5. Look for opportunities to climb the ladder. Look online for job listings. Look for opportunities in the company where you work if you like it there. Look for positions where there’s potential to continue advancing. Avoid dead-end jobs. Small compensation is okay if you’re getting your foot in the door, but as soon as the opportunity to get inside that door comes up, be sure you’re ready. Always leave a good impression with management. Show them respect and have a positive attitude. Always exceed their expectations. Show up early. Find opportunities to improve processes and take the initiative to implement those improvements when appropriate (work with your management to make sure they’re on board first). NEVER, EVER, EVER burn bridges. Don’t show any cynicism about your job, the company or your co-workers. Don’t speak negatively about anyone. Don’t worry about the people not doing a good job, even when they get ahead… Their crappy performance will eventually catch up with them without you having to intervene. All of these traits will set you up for advancement.
6. Take advantage of any investment opportunities available at your employer that come out of your paycheck before you see them. 401ks, Employee Stock Purchase Plans, etc can be great ways to invest without having to do it actively. Also, since these investment plans are deducted from your paycheck, you never know it’s missing, because it’s gone before you see it. Arrange to have the maximum witheld that your budget allows for. Really push your maximum. This can add up fast if you’re aggressive — and it’s so easy. When I started investing and was looking over my 401k choices with my dad, he said come back and let’s talk when you have more than $10k in your account. I thought that would take forever. Now I have over $250K, accumulated over 7 years.
7. Make good personal choices. Don’t smoke. Don’t break laws. Choose friends carefully — choose friends who want to be high achievers, and choose friends who make good personal choices. Choose boyfriends/girlfriends who challenge you and who challenge themselves and who are good to you. Stay away from family, friend and boyfriend/girlfriend drama. With family, it can’t always be completely avoided, but you have more flexibility with friends and partners.
8. USE BIRTH CONTROL!!!!! This is a huge one. DON’T HAVE A CHILD UNTIL YOU CAN AFFORD ONE. These days, with oodles of contraceptive options with 99+% efficacy rates, having children is a choice; it doesn’t “just happen”. Double or triple up on high efficacy birth control. Just because she is on the pill doesn’t mean you can go without a condom! Do both! When my husband and I were dating and really couldn’t afford a kid, we used the pill, foam and condoms, every time. Also, it’s a good idea for both you and your partner to get tested before beginning a sexual relationship. That way it’s all out in the open, clean slate, etc.
9. Be a smart shopper. Go to the Goodwill in the prominent neighborhoods for clothes. They often have gently used, high-quality clothes for pennies. Shop sales. Pay attention to the prices of things at the grocery store, and don’t buy a lot of processed crap. TV dinner spaghetti costs $2.50 for a small serving. You can make 4 servings for that much from scratch — and it’s really easy.
10. Stay healthy. Did I mention not smoking yet? 🙂 Exercise, eat fresh veggies and fruits and lean meats. Don’t drink a lot of alcohol. Don’t drink soda! If you insist on drinking sugar water, make yourself koolaid. But that’s retarded, so just drink water and juice.
If you’re doing all these things already, keep at it. Sometimes you have to tread water for a while before you can get ahead. That’s okay. Look for better job opportunities and be ready to leap on them. Have your resume updated and ready (and make it a good one that stands out, not the same old bs that people see over and over). Even if it’s a basic job in a casual work environment, dress your best. If your best is a suit wear it! That is the standard interview attire, and you can’t go wrong with it. It’s the safe option. Anything less, and someone might be offended. Know the social procedures: cover letter, resume, show up 15 mins early, good handshake before and after, repeat the person’s name when they introduce themselves, wait to be asked to sit down, don’t say anything negative about yourself, previous or current employers, send a thank you note after the interview.
Here’s the deal: Success doesn’t happen to people who just find a job and do it. In our present world, these people will, at best, coast. At worst, they’ll gradually become obsolete. You have to continually be improving yourself, cultivating yourself and the network around you, thinking about what’s next, dodging potential pitfalls before you’re faced with them. One has to always be absorbing information and seeing the interrelatedness of their environment and how to build more connections that lead to progress, productivity, efficiency and success. Look around you and notice the people who know who to go to for any problem, or those people who are called to take on the really oddball projects or tasks and who use that task to add another notch on their belt to be the one called to take on the bigger oddball task next time. You want to be that person, the one who is indispensable, who is replaced with three people when they take another job — and even then it takes the replacements a while to recapture all the knowledge that the former person possessed in the role. These people have a reputation in their company as the experts. They’re also really good at spotting each other and building each other up. BE ONE OF THEM. Managers fight for these people.
Give yourself some time building up to a good professional position, gaining experience and skills, and building up your funds (investments, rainy day, and short-term fund). This will be slow at first. It may take a few years to really see things adding up. But after this things go quicker. You’ll have to be quicker, too. Once you have all of this under your belt, you will have a platform from which to leap into some of the options mentioned in the original story, whichever ones appeal to you. you’ll also have a safety net below you so that you don’t break your neck if you screw up! That’s important, too!
Think about all those stories about immigrants arriving to this country with nothing and retiring comfortably having raised a beautiful family that has gone on to even greater success than their parents. The formula above is how they did that.
Summernot,
Hat tip to your incredible post comment. I am honored to have such an astute reader such as you to share their own experiences through this medium. Your comment deserves a post of its own… honest.
-SVB
Great ideas!
Of the 10 ideas, there are categorized into 2,
* capital growth
* cashflow growth
What’s the difference? Let me tell you.
1. capital growth means something like INCREASE YOUR MONEY (capital) so that you can have enough money money to invest.
2. cashflow growth means INCREASE YOUR PASSIVE INCOME so that you can retire.
I prefer business building of the 10 ways.
Bernard,
http://www.VisualizeForWealth.com
Very interesting post regarding the subject. I am also on the same page with most of what you had to say. The information regarding real estate is one of importance. Now that everyone is steering clear from real estate I feel it is important to look into it. Millions of deals out there. Please check out the money blog at http://www.allthedough.com/BLOG. Thank you for the great post.
Nice overview of several different approaches, although most people are aware of many, it’s nice to run over them in one place to refresh your memory.
Great articles on wealth building. There were a lot of good ideas. All you have to do is look and there are ideas everywhere. Find a problem and map out a plan of action to solve it.
Mel
Very useful blog and one the the most decent, original ones I’ve read lately. This has been going strong for nearly a year.
AJ
Haha… good post! Really breaks it down, and if we all sit down and think about it, we can probably name a few people who each of us know that fall into one of the 10 categories you mentioned.
Ah the secrets to making money.
6, 7, and 9 for me. Another way to make money is be a contrarium, when everybodys spending you should be saving and when everyone is saving you should be… Helps if your an individual.
In todays current climate the best way to make money is stick it under the bed or buy gold.
These are the tried and true ways of reliably making money. Everybody looks for the “Get Rich Quick” schemes. I’m sick of seeing them!
Awesome post. I prefer #6 (webmastering) because it’s so darn easy to have NO employees and work from home. What better way to work than, when, where and how YOU want to do it!
Ed: Thanks for your comment, but I don’t allow keyword use or links to financial products in comments in order to be fair to my advertisers.
I’m definitely agree with #6.. been there.. done that..and still doing it 🙂
This is a great post. kudos to summernot for taking time to write such a long and informative comment. I’m stuck with #9 but trying to get a foothold on the internet!
Cheers
If you have good reputation on a particular niche, you can be a consultant with relatively high earnings.
Roger Hamilton
Great article, it’s given me inspiration. The web site builder… how true, I’ve tried (and failed) at making money from the web, guess I’m just not in the 5%!
Frequently in the last decade, i’ve found myself on the wrong side of a down-sizing initiative. Each time, I move into my consulting role, often in the company that just laid me off.
Tim
Great article!
I have learned that frugality won’t get you far on a minimum wage income.
Nice work. I like how you broke this down. I must say I have read “Rich Dad Poor Dad” and “The Millionaire Next Door” both are fantastic books. I have read almost all of Kiyosaki’s books, I think I only have two to go. Some of them are repetetive but still great information. I will stress that in each of the items you list that you must educate yourself. Books are some of the cheapest ways of doing that. I am always looking for the next great book to read. So I appreciate you mentioning them in your blog. Especially, on investor trading. If you are going to try penny stock trading you need to be educated or get help from the experts. You can lose money quickly if you don’t!
I do not see FOREX in the list, if you are good at it, it’s a blast.
It isn’t an easy road if you want to be profitable with forex trading. To be successful you really need to work hard and put in the effort to learn and practice before you start.
It is when practicing you learn how to control emotion and maintain discipline.
At first, it’s hard work, but when you get to the point that you are successful at trading, the forex market rewards you tremendously once you put in effort.
Great blog, enjoyed reading through it.
Happy Trading!!
Hey buddy, just read a few posts from your site, I really enjoyed them all, especially this one. I think you made some good points! Anyway keep up the great work buddy, I’ll keep this blog bookmarked. Will
I find this post fun to read. Creating wealth is a major decision you have to decide within yourself. Keep posting! 🙂
Great post. Although I think that one of the top way people are building wealth today is through whats called Internet Entrepreneurship – different from your traditional brick and mortar business. Internet entrepreneurship is accomplished through starting online businesses or becoming an affiliate marketers. I’ve personally met and know people who went from being 65K in the whole to multi-millionaires in as little as 5 years. I’ve started my business and am glad to say that the internet business model is worth taking a look at if you cannot afford a traditional franchise. Internet Entrepreneurship is definitely worth making the top 10 list.
just read a few posts from your site, I really enjoyed them all, especially this one. I think you made some good points! Anyway keep up the great work buddy, I’ll keep this blog bookmarked.
#11 Scammer
Haha just joking.
This is an interesting breakdown. No point given for gold?
Hi Finn,
This is one of the most honest and accurate posts about how to become wealthy that I’ve ever read. It’s especially great because it’s based on your real experience on the job and meeting people who’ve reached success using different methods.
I always admire people who can create their wealth using methods that seem Herculean to me. You know, becoming a hit property investor, or a startup maverick just sounds like one of those idealized/romanticized versions of what actually happens – but they do really happen.
I’m starting my own journey in creating more wealth. This article you write really helps me to understand that I’m on the right track. The most important thing is to choose the way that suits our talents and aptitude the most, right?
Cheers!
Hi Deny,
Thanks for the kind comment. You are absolutely right about saying that we should select the path that suits our personality, skills and abilities best. Otherwise, you won’t last long in the field, and from what I know, success correlates with tenacity and determination. The longer you keep at something, the higher your chances of success, and it’s easier to keep at or to stick with something if you enjoy what you do.
Find your calling and be the best, and often, you get rewarded. Some luck may be involved in your success as well, but don’t discount the power of your efforts.