If you’re able to hack Principal-Agent problem, you can run any businesses.
But I warn you, this is a very difficult problem to solve. So what is a Principal-Agent problem? Principal and Agent are highly separated until you solve the problem. Principal is an Owner, where as Agent is an Employee. As a principal, if you can make your employees think like you and embed founders mentality in your agents, it’s better half long term. if you’re an Agent, and if you operate like an owner, it’s just a matter of time before you become a principal.
Remember business biographies are useless for building a great business. They’re good for inspiration. They are not copyable. Without sincerity and obsession to solve the basic principal-agent problem, you won’t get there.
The one important rule in finance to become wealthy: “Invest, Rather Than Save”.
The financial systems punishes savers, (ever heard of double digit savings rate?) and rewards investors. This is done systematically devaluing the USD every year, so you’re losing even though you think you’re winning. If you save, your money becomes less valuable. If you invest, your assets become more valuable.
Education is the great equalizer. Have skin in the game and understand the rules well enough to break it.
There is no asphalt boulevard to success in Main Street or Wall Street or anywhere else. But if there is a burning spirit that can make you a true person – it’s the competitive spirit.
When you have competitive spirit, you learn more about the world, forms relationships, tackle significant challenges, and will channel your ambition. You end up refining your ability to simplify complex problems by focusing on only the two or three issues that will determine the outcome.
Continue learning and build your competitive spirit. Go see a unique opportunity, and go for it with everything you have.