5 simple rules to make Rs 1 Crore in 3 years

hi everyone welcome to today's video so let me start today's video by telling a personal story that when i started working officially around 12 years back my salary was roughly 10 000 rupees i was working with a non-profit organization and over time i improved my skill set started making more money and now my salary is much higher than 10 000 rupees a day i'm not saying this to boast but i have an important theory to talk about the theory is that i truly believe that anyone can become a crorepathy if they work hard for three years that's it that's the time that you need to become a karpati given how the world is designed these days so on this video i'm going to decode this topic and explain you the mathematics behind it also and we'll talk about certain career paths that can help you truly become kururpati in three years time if you plan your steps correctly i will speak about this story in six simple steps also this video has been brought to you by cambly more about them subsequently on this video so point number one is that the way our world is designed right now it is much easier to make money than to save money let me demonstrate that point by picking a few examples so think about it this way that when our parents were young did they used to order food from zomatos swiggy did they used to get notifications on the phone that you know what today there is like 50 discount now we keep on getting notifications that some discount is running here there everywhere also think about the point that when our parents were younger it was easier for them to own a house they used to buy a plot of land they used to construct it and many of our parents would have done the same let me know in the comment box that if you feel that that is indeed true so what used to happen due to homeownership was that the total expenses per month used to come down but nowadays almost everyone is living on rent or even when we are buying homes the cost of house price inflation has just gone haywire so the point that i'm trying to tell you is that these days it is very very difficult to save money india is turning from a savings oriented economy for example our parents used to save a lot but now we are driven by consumeristic culture and aspirational upbringing so from that particular perspective it is getting more and more difficult to save money but on the flip side this also presents a lot of opportunities for example you might have heard that india has been able to create almost its 105th 106th unicorn and this unicorn culture came up in the last four five years only that so many unicorns started getting created in india what does that indirectly means it indirectly means that people are getting richer and richer or at least some people are able to aggregate wealth so now these are my opinions now let me start sharing some scientific data with you that will convince you more about this point so for this let me share with you the story of malcolm gladwell so malcolm gladwell is a renowned author he has written several best-selling books he has talked about a concept called as 10 000 working hours so in simple words if you are trying to gain excellence in a certain career path and want to make enough money from that career path what you need to do is that you need to spend 10 000 hours in terms of developing this skill now if you back test the number what you will figure out is that 10 000 working hours even if you are working 8 hours a day it will come out to be total 1250 days which indirectly means that in order to gain excellence in a particular skill you need to work for approximately four years and this is assuming an eight hour work day now if we take a more realistic measure because you might already have a core job and if you are trying to develop other additional skills then you might only be able to dedicate four hours on a particular skill set so that indirectly would lead to almost eight years of your life in terms of developing a skill now this according to me does not work anymore a classic case in point is when people are making tick tock videos and are becoming karo paties what not so the point is that these days this 10 000 rule does not come into the picture now why is that the case the answer lies in malcolm gladwell's court itself this 10 000 hour rule is applicable to high cognitive ability skills so for example if you want to become a neurosurgeon or if you want to learn a highly complicated musical instrument then yes spending 10 000 to gain that expertise makes sense so the summary that i am trying to tell you is that these days the way career paths are structured i do not think that you need those levels of high cognitive skills and majority of the cases to get to that one crore figure so let me present a case study of being a good video editor these days so if you are a highly skilled video editor in india you can approximately earn 10 000 rupees by editing one video so that's a approximate math that i'm telling you of course you need to be skilled you will not be paid 10 000 rupees from day one so in order to earn one crore rupee as a video editor how many videos you would need to edit approximately 10 000 times 1000 which gives you one crore rupee so you will have to edit 1000 videos over a period of three years why have i picked three years because the title of the video is that hey become a kuru for in three years now let's assume that to edit one video it will take you five hours of your time so to edit one thousand videos it will take you five thousand hours now again divide it by three years so every year how many hours you will have to spend you will have to roughly spend 1300 hours per year now on daily terms how much does it come even if you assume 200 working days the math adds up to be roughly 8 hours per day that is assuming that you are working 200 days per year so to cut the long story short you can easily make one crore rupee just by working 200 days per year at 8 hour work day now you might ask that okay learning video editing is a highly complicated skill i will have to follow that 10 000 work hour rule you can learn video editing much much sooner than 10 000 work hours so think about it this way and try to identify opportunities in the market that allow you to pick up a skill in 4 500 hours and there are multiple such skills including video editing let me know in the comment box which other skills you can think of which can help you make this type of money by spending 4 500 working hours so this brings us to point number two or tip number two that you need to follow in case you are looking to make one crore rupee in the next three years that you should live your life with urgency and elon musk has put this wonderfully well and i'm paraphrasing the quote here and i'll put the original quote somewhere here so he says that you should stop being patient with yourself and if you are trying to accomplish something in 10 years give yourself only six months to do it will you miss the target yes you are most likely to miss the target but you will still be far ahead or far far ahead than a person who assumes that okay i am going to achieve something that is supposed to be done in 10 years in exactly 10 years now one of the reasons why we don't live our life urgently is because we believe in conventional wisdom now what is meant by conventional wisdom let me talk about two three examples conventional wisdom is that okay do engineering you will have a wonderful life okay look for a safe job don't take risks in life all these are conventional wisdom and guess what conventional wisdom is often incorrect now let me prove that point by talking about my own example of starting youtube so when i started my youtube journey i looked up couple of videos that you know what how to grow your youtube channel or how much time would it take for me to get 200 000 subscribers or what are some of the things that you can do to grow your channel fast and i used to get really depressing results for example people used to say that it will take you four years to even get 200 000 subscribers you will have to keep shooting content all day long and no one will watch it there was a lot of negative commentary that was given and if i would have believed in that commentary i would have never even gotten started on youtube so the point that i am trying to tell you is that conventional wisdom is often incorrect so if something interests you if you feel that you're good at it please go out and experiment take risks and there is a very high chance that the usual statistics will not apply to you for example i get so many queries on the fact that akshat i want to do my mba i'm 30 years old should i do it yes do it what's wrong who is stopping you similarly i want to change my job should i do it yes do it if if your heart is not there and you're not enjoying the type of work that you are doing you should definitely switch whether you're 35 40 55 it does not matter from that perspective but what stops people from taking these hard steps is that they just simply and blindly believe in conventional wisdom that okay generally 90 percent of stats is against me so therefore i should not go and do my mba now if i'm 30 year plus please do not believe in all this negativity and live your life with urgency if you give yourself ambitious goals you will be able to achieve those goals the only thing that you should be worried about is that if you are setting a goal then are you working towards that every single day are you improving your skill sets to align with those goals or not now in that context many of us want to improve our english speaking skills want to improve our interviewing skills learn business communication so from that particular perspective you can check out some of the courses by camli and they are offering a 15 15-minute trial at a minimal cost and you can speak and work with native english tutors who are very friendly and they will explain you things in a very logical and structured manner you can check out the links in the description box for more information and towards the end of the video you can see me speak with a complete tutor now comes point number three and this is related to the previous point that in order to excel and if you are setting urgent tasks for yourself many of us are getting burned out as per today's environment you might have seen a lot of people write linkedin posts and you know what we are having mental breakdowns our work environment is not positive etc etc now of course these are situations on which corporate should work upon and improve but there is not much you and i as normal individuals will be able to do so what we need to think is that we need to avoid burnout that should remain our core goal yes we should be urgent with our goals we should set ambitious target but at the same time we should be thoughtful not to burn ourselves out now why do people get burned out i have the following three theories that number one people do not enjoy the type of work that they are doing and this is the number one reason for being burned out and number two reason is that people are not disciplined now what do i mean by not being disciplined it means we start checking instagram whatsapp youtube then we go to our breakfast table then we think for like 30 minutes that okay what should we be eating not eating then we go take a shower and then decide that okay whether i should be wearing blue shirt red shirt this shirt that shirt there are so many choices that we make even before going to our work now what that does is that it drains out your mental energy so one of the easiest ways to be more disciplined is that make fewer choices or at least automate whatever you can potentially automate this is a very important trick for example you are seeing me wearing a decathlon shirt i keep on buying decathlon shirts only i don't even go to any other stores if i have to buy a formal shirt i will go buy an arrow shirt if i have to go buy my regular clothes i'll go to decathlon if i have to go and buy indian wear i'll go to fab india so done these are my choices this is what i execute this is how i have simplified my shopping list so genuinely it does not take me more than one hour to do all my clothes shopping every six months so that keeps me disciplined in terms of my shopping choices similarly if you can simplify your life by simplification i simply means that you have to make fewer and fewer decisions then that will make you more disciplined in the work that you're doing why will it make you more disciplined because you're not getting mentally exhausted now the remedy to point number one where you're not enjoying your job is fairly simple now you might not be enjoying your job for a wide variety of reasons for example the work environment is not good you're not getting due appreciation you're not getting promotions it's toxic work culture you don't like your boss etc etc in that situation please go and change your job or at least try to change your job on the flip side if you are not enjoying your work because you are not good at it you are just struggling you are just struggling to learn the work then in that respect you might have a learning problem so please understand here the concept of value of disappointment i have spoken about this particular concept of some of my other videos but value of disappointment simply means that the gains or the progress that you make in any skill is not linear it's not as if that if you work for five hours you will make a 10 gain then you work for five more hours you will make 10 more gains it doesn't work that way in a linear fashion value of disappointment means that you put in a lot of work up front you are not seeing any results then suddenly there will be a hockey sticker and you will start gaining a lot of momentum so think about it from virat khali's example that when he started playing cricket he probably would not have made money in the first 16 17 years of his career but he stayed put from the time he must have been six seven years old all the way till 18 years old so did he get any returns and maybe there would have been times when he would have gone through an injury or a very bad patch in terms of his career the way he is going now that means that that particular micro phase is called as a valley of disappointment and many people give up they get super bothered that i've worked so hard i'm not seeing any results and let me just give up so please don't do it as long as you're enjoying your career path everything in life compounds money compounds skills also compound the only way skills will compound is that if you stay put with it and you are able to overcome that value of disappointment now comes point number four which i call point one percent improvement rule so you might have already heard of one percent improvement rule which has been popularized by james clear who is the author of atomic habits it's an excellent book you should definitely go and read according to that theory if you are making one percent improvement every single day then within a year you would have improved by almost 36 37 times but if you derail your performance every single day by one percent but if you go down a negative path where you are losing one percent steam every single day then you will erode 97 of your value now i love this rule but the point is that from a practical perspective it's very difficult to improve by one percent every single day think about it this way that when you start writing today on linkedin would your post improve by one person tomorrow maybe maybe not but continuing to do it every single day is very very difficult so i have come up with point one percent rule so point one percent is a much much smaller number than one percent rule now applying the same principle framework if you improve by 0.1 percent every single day for 365 days you would have shown a 44 improvement so that is not a bad number to a max so the point remains that whether you walk whether you run whether you crawl you should always move forward that's a simple message that i'm trying to give but here are two key problems that people face in their self-improvement journey one is that they don't know what to improve upon because this is called as abundance of choices which leads to more and more confusion second key problem that people face is that they get distracted can i give you an example hundred percent for example when people start taking a certain course majority of us would have taken some kind of course or other but majority of us would not even have completed that course why does that happen simply because of the fact that we get distracted so let me speak about some solutions around both these problems because if you understand it then irrespective of what you are trying to pursue next and if you are trying to become crorepathy in three years these strategies will definitely help so you can divide your skill set into three buckets one would be core skills one would be advanced skill and one would be soft skills you need to improve on all these three skills so what is meant by core skills core skills means the skills through which you are currently making money so let's say that you're a software developer that is your core skill because that is allowing you to make money so let's say that you're trying to get into blockchain development you already know about software designs if you go to blockchain development that is a slightly more advanced skill for you but it can enhance your career don't pick highly divergent skills because it might take you a lot more time to make money out of them going forward so whenever you are picking your advanced skill do align it with your core skill now soft skills are such an important skill to have that you should be able to speak well you should be able to communicate well you should be able to work with people now why is this important this is important primarily for two reasons one is that at some stage in your life you will be managing a team second key point is that the corporate world is primarily driven by interactions and inter-personal relationships if you are trying to speak with your boss clearly and concisely you need soft skills because otherwise even if you're technically very sound but if you are given a team of five to manage if your soft skills are not there it can become a problem so please think about improvement from all these three aspects now a related point here is that how not to get distracted so very simple that you should consume things sensibly for example whatever you are consuming on the internet consume it sensibly consume your food sensibly when you are going to the gym do limited set of exercises don't go overboard and start working out for five hours whatever you are consuming be it for your mind body or soul it is very very important to consume things selectively try to consume more knowledge oriented things rather than entertainment related things nothing wrong in terms of consuming entertainment content but don't sit on instagram for eight hours a day and start consuming short reels after short wheels it will derail your career now comes point number five that if you are trying to be financially free in your 20s 30s or even 40s then what you need to remember is the power of compounding this is very very important and you should let your money and skills work for you because compounding happens both on money and on skills i love kevin o'leary's quote and he said something like this that my money for me are like tiny soldiers i send them on the battlefront which is the world of business every day and they fight and make more money for me so that is how he defines his money similarly if you read about passive investing you would easily be able to figure out that this year mr warren buffett is going to receive roughly six billion dollars in passive income through dividends on the stocks in which he has invested now you say that okay all these are like big big people how does that apply to me it applies a lot to you because what you can do is that you can start with a 20 20 rule i have spoken about this 2020 rule multiple times on my video i'll quickly recap it so 2020 means that if you are investing 20 000 rupees a month for a period of 20 years you will become a crore party easily so that's the simple math that you need to keep in mind and start adjusting your targets accordingly now because if you think about it this way that hey is saving 20 000 impossible for me right now depending on your circumstances it might look like a very difficult task but this becomes a target towards which you can start working more aggressively so in summary do try to compound your money invested as per your risk appetite and also invest in your skill set invest a lot in you in terms of picking skills improving your skills taking a little bit of risk and showing a little bit of urgency in your life now let me speak about the final and the sixth point which is what are some of the career options that you can execute if you want to earn one crore rupee in the next three years one would be hardcore entrepreneurship you can go and try starting out companies it is a very very difficult thing to do and there are high risk high reward associated with it for example mark zuckerberg has done it successfully mark cuban narayan murthy etc etc have been legendary entrepreneurs now if you want to learn from them number one please go and read their biographies it will hardly cost you 4-500 rupees to buy their biography read from them you will learn a lot as to how their mindset works especially observe the fact that they are very humble people and second they focus a lot in terms of skill improvement my hypothesis or understanding is that in order to become a good entrepreneur you need to constantly keep on learning this is very very important if you do not enjoy learning then becoming an entrepreneur will be a very challenging task number two slightly easier would be that invest your money whatever you are earning invest that money and reap the benefits of compounding a classic case in point here would be the 2020 rule that i earlier spoke about that invests 20 000 rupees a month for a period of 20 years you become crorepathy but hey that is just investment that is not active earning per se now comes the third and a more executable path if you are looking for active work which is identifying some high value opportunities for example i earlier gave you an example of video editing now there is another example about agency related business now what are agency related businesses these are independent media companies that you as an individual can create now let me quickly explain how does agency business work and do comment in the comment box if you have experience of running it so what happens here is that on one side you have a lot of influencers and on the other side you have a lot of companies so these agencies connect both these parties for marketing oriented campaign so this is how these independent media agencies are able to make money this is a purely commission's based business this is built purely on networking it does not require much technical understanding but do you do you like cricket more or football more soccer i don't like cricket i love it [Laughter] so if you have been teaching on gambling or do you do like other stuff along with this yes it's been um since the beginning of the year i think i had my six month anniversary last week i got a nice message from cambridge thank you campbell if you can see on youtube thank you for the message okay uh yeah that's right that's right so do check out cambly and i really hope that you enjoyed this video you picked up something interesting from it which i really really hope that you will implement in your life and make it better thank you so much and i will see you soon [Music] you