YouTube gurus exaggerate their wealth, but being a 200 million dollar CEO can be measured in different ways, such as having money in the bank, owning a company, or making money over a lifetime.
If your business is growing, you're already doing better than most.
Being risk averse can hinder success, as seen in the downfall of WeWork's CEO, but lessons can still be learned from failed companies.
Focus on a linear approach to business growth rather than aiming for overnight success, as becoming a billionaire requires luck and being in the right place at the right time, but with knowledge and awareness, one can make their own luck and take advantage of circumstances to succeed.
Businesses can avoid failure and sustain themselves by reducing risk and debt, following good advice, minimizing taxes, and maintaining profits for long-term success.
Successful business owners prioritize personal growth, adaptability, and learning, while also understanding the importance of saving money and diversifying their assets.
Expand into different markets, keep the business lean, minimize taxes, and learn from experiences to grow a sustainable business and achieve long-term success and wealth.
Nomad accomplice helps entrepreneurs move their businesses to low-tax countries, offering access to experts and personal expertise to ensure compliance and increase productivity, advocating for a risk-averse linear business building approach rather than flashy shortcuts.
This article is a summary of a YouTube video "What Youtube Gurus Don’t Tell You About Business" by Nomad Capitalist