How to build wealth and reach your goals by starting small

Ramit Sethi.
Courtesy of
Ramit Sethi

• Ramit Sethi, CEO and author of “I
  Will Teach You to Be Rich,” says people get intimidated out
  of pursuing big goals because they’re just too far out of
  reach.
• He used to face that problem when he wanted to build
  muscle and get fit, and he finds people face similar mental
  blocks when it comes earning more money and building
  wealth.
• But if you break down your goals and start small now,
  Sethi says, you can reach big goals through small
  steps.

If I asked you how you could become an Olympic rower, most people
would stare back at me with eyes completely glazed over.

It’s almost the same exact look as if I asked how you could make
$5 million in 10 years.

Why?

Answer: Because if a goal is too big, people simply cannot
comprehend it.

For example, when people see an Olympic athlete, they think, “Oh
I could never look like that. I don’t have the right genetics. I
haven’t even worked out in 10 years!”

Back in college, I firmly believed, “I could never gain muscle.
I’m just a skinny Indian guy.” I thought this was a fact of life,
like the sky being blue, and accepted it.

But then I started to see people around me — including other
Indian guys — bulk up.

Slowly, I realized this belief of “I can’t gain muscle” was total
BS.

I used to think lifting was only for meatheads, but I was the
only one standing in the way of my goal.

The same is true for earning
more money.

We don’t think we can do it because nobody ever teaches
us how! And we never see people like us do it, so we have no
reason to believe we can.

We’re left with a deep-rooted, toxic belief that earning more is
only for “other” people. Then tell ourselves things like, “I
can’t earn more, I don’t have time/an idea/the right background.”

This is just a self-limiting belief.

Just like how I was able to destroy my own beliefs about gaining
muscle, you could shatter your beliefs about earning more … and
actually do it.

Related:

I’ve helped thousands of people start their own businesses, and
I’ve found that everyone who makes money has the same thing in
common

Let’s start small

Once you realize your limiting beliefs aren’t facts, or truth,
you can get started earning
more money. Earning an extra $10,000 may seem impossible, but
let’s break it down.

If you ask yourself instead how you would earn an extra $500,
$1,000, or $5,000, coming up with realistic solutions becomes
more manageable. Here I’ll break down the math:

Let’s assume you make $50 per hour. If you worked 10 hours per
week for five months, you could earn an extra $10,000.

To earn $10,000 on the side in five months:

$50/hr X 10 hrs/week X 5 months = $10,000

Boom!

And that’s just the start. As you gain confidence and get more
clients, you can double your rates and earn that $10,000 in half
the time.

To earn $10,000 on the side in two and a half
months:

$100/hr X 10 hrs/week X 2.5 months = $10,000

Whether you actually make $50 per hour is beside the point.

The real message is this: If goals seem too out-of-reach, we’re
not able to visualize what to do. Instead, dream big, start
small.

Ramit Sethi is the author of the New York Times bestseller,
“I
Will Teach You To Be Rich,” and writes for more than 1
million readers on his websites, iwillteachyoutoberich.com and GrowthLab.com.
His work on personal
finance and entrepreneurship have
been featured in The New York Times, Wall Street Journal, and
Business Insider.