It's hard to become successful in any industry, but the path gets even more difficult if you look for a quick route. "The 10X Rule" author Grant Cardone recently shared a concise X post that serves as a good reminder for people who are looking for ways to get rich quickly.
"There are no shortcuts," Cardone said.
X users were in universal agreement and chimed in with their thoughts. Knowing that there aren't any shortcuts can be empowering for anyone who wants to achieve financial independence or build a successful business. Here's why.
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The Only Real Shortcut Is Doing The Work
Shortcuts appeal to people who don't want to outwork their peers and the competition. However, the pursuit of a shortcut can cause people to slow down on their goals and derail progress. Instead of looking for a faster way to get there, you just have to put in the work.
Instant gratification and quick hacks have become mainstream, but you have to ignore the noise to succeed at ambitious, long-term goals. One X user explained it effectively when responding to Cardone's post.
"I used to look for every hack in the book. Biohacks, business hacks, even mindset hacks. [I] eventually realized the only ‘shortcut' was doing the work every day when no one's watching."
There is no instant gratification if you work silently without receiving accolades from your peers. However, it's more rewarding in the long run to fully immerse yourself in your long-term goals.
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Take Consistent Action
It's easy to feel motivated about not taking shortcuts for a day or week. However, it often takes many years of consistent action to reach your goals.
Building a stock portfolio that can cover your retirement will take multiple decades. You have to carefully select ETFs and individual stocks that align with your risk tolerance and long-term goals. Investors also have to stay firm on their long-term winners when stocks endure corrections.
It's not easy to take consistent action, and you will come across some roadblocks. Making progress every day, even if the progress is small on some days, is a quicker path to success than hunting for a nonexistent shortcut.
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Quick Wins Deceive
Although Cardone says there are no shortcuts, some people get lucky and win the lottery. Someone can also make a good investment early that multiplies their money. However, these types of successes aren't the best ones to have.
Quick wins are deceptive and can make you feel like you are smarter than you are. An options trader who has back-to-back successful trades may feel overconfident and risk more money on subsequent trades until they get humbled.
Some people win the lottery, but many of them end up broke. That's because people who are hoping to win the lottery usually have bad money habits. Someone who is building a million-dollar portfolio doesn't have money to waste on lottery tickets.
More money doesn't change who you are. It makes you more of who you already are. People who win the lottery or receive massive inheritances will burn through all of it if they have conditioned themselves to get into debt and spend every last dollar they earn.
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