#1 Wealth Secret Of Unicorn-Entrepreneurs And School Teachers

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The Right Path to Wealth?

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The common assumption is that high-income individuals, such as physicians, are richer than school teachers, and that VC-using entrepreneurs do better than bootstrapping billion-dollar entrepreneurs. However, the reality seems to be that finance-smart entrepreneurs and schoolteachers can accumulate substantial wealth through finance-smart strategies and skills. The truth seems to be that greater financial wealth creation with less income (for schoolteachers), or investment (for entrepreneurs) is possible, which challenges common assumptions. Finance-smart decisions, skills, and strategies can do wonders for your net worth – whether you are an entrepreneur or a schoolteacher.

Is Conventional Wisdom Smart?

Dave Ramsey, a financial expert, notes a surprising finding that schoolteachers, who mainly earn modest salaries, frequently accumulate more wealth than high-earning physicians. The article “Can’t Outearn Stupidity” by Dave Ramsey notes that financial intelligence and finance-smart strategies and execution play a key role in building a secure financial future.

Entrepreneurial Success Without the PR

In the financial world, the press cannot stop gushing about the millions raised by the next hot venture from venture capitalists – suggesting that this is the venture to keep your eye on and emulate because they are likely to be a sure winner. And they have reached the magical “unicorn” status based on the VC deal and valuation. But here’s the surprise – and similar to Dave Ramsey’s observation – the wealthiest entrepreneurs, such as Sam Walton, Dick Schulze, Michael Bloomberg, Michael Dell, and Joe Martin, did not seek a financial crutch in the form of venture capital (VC) investments. They used finance-smart strategies and financing and ignored and avoided the allure of early-VC funding – by either avoiding VC completely or by delaying it so they could control the VCs, avoid being replaced by the VCs as the CEO, and keep more of the wealth created by their ventures. Contrary to the glamorous image of VC incubators and pitch competitions, these successful business leaders were the silent, finance-smart plodders, using the power of smart growth and smarter strategies and skills.

And here’s the even more surprising part — anyone can create a VC-unicorn in a week. There is nothing magical about the valuation-achievement. Real achievement is tougher. With valuation-achievement you need to go full-hype and sell before the pyramid crashes. With real achievement, you don’t need to hype. Your achievement speaks for itself.

The Silent Plodders

A staggering 94% of successful entrepreneurs turned out to be finance-smart plodders who started with the right unicorn skills and finance-smart bootstrapping techniques (Truth About VC). The performance of these remarkable and often unheralded (by the press) individuals shows that skills and self-reliance can lead to remarkable financial gains. By prioritizing substance over flash, these entrepreneurs create a solid foundation for sustainable prosperity.

A New Perspective for Education and Incubation

The traditional notions of VC dominance that is commonly practiced and touted by business schools and incubators needs to be challenged. Instead of fixating on the lottery-like structure of fast success and faster capital, these institutions may contribute more to their chosen goals by concentrating on financial intelligence and self-sufficiency. By combining finance-smart unicorn skills, which is what business schools should be teaching in the first place, educators and incubators can equip more future entrepreneurs with the tools to succeed – with VC or without.

MY TAKE: Creating wealth is not solely based on high incomes or flashy and hype-focused venture capital. Instead, just as schoolteachers and 94% of billion-dollar entrepreneurs did, it depends on finance-smart decision-making, bootstrapping strategies and smart skills to prioritize substance over superficiality.

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