The Less You Know, The More Money You’ll Make

By brooger on Jan 16, 2010 | In Business Ideas | Send feedback »

Are you a first time entrepreneur? Are you trying to find out what you have to to do to make it in this world? If so, good!
Even though you are going to make plenty of mistakes, here is why you’ll make extra money than those know-it-alls:
You’re willing to listen in
If you’re lost, what is the first thing you do? You most likely go out there and ask for help.
Whether it’s doing some research on the internet, sending off an email to another industrialist, or making a phone call to a close friend… you’ll eventually get help.

When you get some help, you’ll listen and try to act on the advice that you were given.

Follow up:

Know-it-alls, on the other hand, have a tendency to not look for help, and if someone goes out of their way to assist them, they usually pay no attention to the advice. Or even worse, they’ll keep on looking for advice, but they’ll never follow it.
If you ever get to the point where your clients start giving you response, you’ll most likely listen.
You’re naive

I don’t want you to take this the wrong way, but believe me you’re like a baby. You are stepping into a whole new empire and you still have a lot to learn from the pioneers.
The terrible part about being naive is that you’ll make many of mistakes. But, the good part about being naive is that you’ll be eager to try almost everything, even if that “thing” is a stupid idea.
However, what you most likely don’t know is that your business is likely to make the greater part of it’s revenue from that stupid idea that you never thought could work.
Know-it-alls on the other hand aren’t as supple when it comes to their business model, which means they are slow to adapt.
You’re not a perfectionist
It’s not that you don’t like things to be wonderful/perfect; you just don’t know what is perfect. Because of this you’ll move much quicker than know-it-alls who are trying to perfect their product or service.
When you try and create a perfect big business, you’ll soon realize that it’s never ending. You’ll always find something wrong, and you’ll take forever to open your company. And if you ever get to the point of really launching your company, you’ll soon learn that consumers don’t like your “perfect” business. But by this point, you have already exhausted a lot of time and money, so you won’t be able to fix your business so that it meets clients’ expectations.
Agility is what you have that know-it-alls don’t, which implies that you shouldn’t run into the trouble that I mentioned above.
You’re not confident
When you wait for something to make you a shit load of money, what happens? You have a propensity to make no money. And when you don’t expect something to make you much money at all, what happens? You make a shit load of money.
Because you aren’t sure, you won’t expect your business to make you filthy rich. Now granted this doesn’t imply that you’ll become rich, it just means you’ll work harder to try and figure things out. And when you work harder, good things usually happen… they just take a while.
Know-it-alls tend to be over certain, which affects their chance of succeeding. It’s usually the thing that’s right in front of their nose that results to their business failure.
You’re hungry
No, I don’t indicate that you want to go to McDonalds and stuff yourself with a few Big Macs, but in its place you really want to achieve something. You have that fire in your eye and it isn’t as you want it there, it’s because you are penniless and have no option but to figure out a method to make a little money so you can put some food on the table.
If you are a bighead you have most likely done one thing really well that’s put sufficient money into your pocket, which means you are monetarily stable. And if your big business fails, you won’t be living on the boulevard… hence you don’t have that drive to be famished.
Conclusion
I know, you are most likely wondering why experienced entrepreneurs such as Evan Williams or Elon Musk keep on making lots of money.
Drum roll please… it’s so since entrepreneurs like them aren’t know-it-alls they are just experienced. Knowledgeable entrepreneurs know that they still have plenty to learn and they recognize that they aren’t a jack-of-all-trades.
Even if there is a big difference from being experienced and being a know-it-all, it’s a fine line. Just make it clear in your mind to stay on the side of being experienced, knowledgeable and most importantly stay modest, so that you don’t erroneously cross the line.