Hard Work ≠ Earning More Money

Naval Ravikant has an interesting take regarding why people who work hard does not mean they will earn more money. Would you like to know what his thoughts are?

What Is Better Than Hard Work?

Naval believes there are three elements that exceed hard work when one wants to earn more. Not in any particular order of importance.

1. When to work? Timing is Important.
2. Who you work with?
3. What you are working?

Timing Is Key

There is an old saying, "Early bird gets the worm". This is true in may cases with life experiences. For example a giveaway from your local store occurs to the first 50 customers. The 51st customer and after would not be able to win the giveaway all because they were beaten by 50 people before them.

Who You Work With?

Working with people who are supportive and helpful. Any positive traits from fellow coworkers that will make you feel motivated to working is the idea. On the flip side working with people who ignore you and not help you progress in your career would be hurdles toward your success. As if the work you have to do not have enough hurdles.

What You Are Working?

This element Naval has a great example. A restaurant waiter who works 60 hours a week will likely not make as much as a computer programmer at Google that works 40 hours a week. The keys points as to why this is the case is because the computer programmer has a skill not found by many and he or she is using leverage to help multiple people. While a waiter who works 60 hours has a skill that can be picked up easily and more competition. In addition the waiter can not do much to leverage his work to help more than the people that he serves at a given amount of time.

Bottom line finding work that you can leverage and be able something unique only few can do will increase your earning potentials.

Conclusions

I like how Naval explains why not all people work hard will mean more money. The reasons comes down to how they work, who they work with, and when they work. Before learning Naval's approach I have always felt it was some form of luck and simple life's unfairness that resulted in less rewards for many who work hard. Yet Naval clearly defines some logical reasons as to why this is the case and has definitely persuaded me.
None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!

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