Monday, March 10, 2014

The Four Factors of Wealth (Night Class)

Listen to this podcast and respond appropriately!

24 comments:

  1. What I did in class tonight was I picked out a bag with 5 different colors of beans. Ranging from highest to lowest. I tried to negotiate with someone,so i kept my highest and traded in all my lowest for the next highest one. I kinda watch out for some other competitors

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  2. I think the most important thing I need to do to be successful is work on effort. Luck is something that basically comes along when you're born. I still have a small chance of winning the lottery or something, but I definitely can not depend on that if I want to be successful. Skill is something I can easily gain and work on. I have a lot of motivation to be successful, to graduate high school and go to college, I just lack effort. I'm going to need to start putting a lot of effort into the things that I do if I want to continue being successful. Without effort, the other factors don't matter. Skill and motivation mean nothing if you don't have the effort to do anything about it. School has come pretty easy for me, where I can put little effort into it and do pretty well. I know college is going to be a lot different and that's why I know if I want to be successful, I'm going to have to put a lot more effort into the things I do.

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    1. I understand how you view things and I see them similar to you. I know college will be hard work and require a lot of effort and motivation, but as long as you continue to put the effort in and stay motivated you can complete it and be successful.

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  3. I think that the main factors of wealth are effort and motivation. If you wish to gain wealth you need to put effort to succeed. Another main factor is motivation because without motivation you won't put much effort and won't gain much wealth in the future. I think that skills play a huge role on wealth, but only if your motivated and put the effort to learn the skills. I think I'm more motivated to obtain my diploma to put the effort to complete my goal. In the process of doing so I am learning new skills that will help me in the future and help me gain wealth.

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    1. I mostly agree with what you are saying here. For me I believe motivation is just a bit more important thought. Without motivation what would make you put in the effort?

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  4. I think that the main factor of wealth is motivation. I believe luck is not something you can control so you should not rely on that to become successful. Skill is something you increase over time so you may not have a very high skill level so you shouldn't rely on that to much either. Effort is something you need to put in, in order to become successful, but in order to put in some effort you need to have motivation. Without motivation you would probably put less effort into something important. Also without motivation you wouldn't put in the time to increase your skill level. That is why I believe that motivation is the main factor to wealth.

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    1. I completely agree with your connection between motivation and effort. I like your point about motivation also pushing you to increase your skill level, I had not thought of that!

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  5. For me, I could work on skill. Skill is something that you never can fully attain because there is always more to learn and advancements you can make. Luck is not something that should be relied on to become successful because the chances of "striking big" are so minute. Personally, I am motivated to do well simply because I enjoy the feeling of accomplishment and I believe that a motivated person will put forth the effort, those two go hand in hand. I also believe that you can be extremely motivated and put forth a lot of effort toward something, but without the education, experience or skill you will not be nearly as successful.

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    1. I agree. Every one could work on skill. There is always more to learn. You can't become wealthy without proper education and experience. Unless you are extremely lucky and win big in a lottery, which happens to few people ever.

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    2. I agree with you that there are always new skills to learn that can help you gain wealth. Well said

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    3. but what if the feeling of accomplishment isn't enough for you to put a lot of work in? like for example it's a minute job. would you still have the motivation?

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  6. In my opinion, the most important determinant to be wealthy is to have skill and/or a strong work effort. These two are by far the most important. If I had to put them in a percentage I'd say skill and effort are both 35%, motivation is 20%, and luck is 10%. A good work ethic can take anyone very far in life. Developing good skills in the real world can also play a big factor in one's life. Motivation can be important too. If someone is motivated they probably have a good work ethic. Many people might say luck isn't important at all. This is wrong. Luck can help get a promotion in the work place. Luck is being in the right place at the right time. Many us of may have experienced this and I'm sure almost all of our parents could share similar stories. Someone may have gotten a job or promotion over you, even though they may not be as skilled for the job.

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    1. i agree how you say to be dominate in the game was ti have skill especially with negotiating with people.

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    2. I liked your point with the percentages. It shouldn't be about focusing on one aspect, but how each contributes to success.

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  7. I agree luck is definitely the least likely to make you successful. The other three are very connected and almost as important as the others, I think the 35/35/20 split was a good way to put it.

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  8. To me, luck is will make you more successful, if your lucky to start out higher in wealth, you have a better chance of making the top most wealth because you are already put up with wealth. then you just have to learn how to negotiate with each other and don't be shy so you can earn more wealth than other people in your wealth group.

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    1. I don't think luck really plays a part, because if you're motivated enough, you can get out of bad luck situations and people with so-called good luck, easily can fall out of it. It's all about skill and the motivation you might have.

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    2. I agree with Allie. Luck doesnt really play a part because that its just luck. it's not like it is handed or given it to you. You don't know when you will get lucky at something. It's like a slot machiene.

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  9. I think motivation is the most important factor. With low motivation, your effort will be low as well. Take education, for example. If you're not motivated to learn, you would not exert the effort you would need to fulfill your potential as a student, therefore not learning to the best of your ability. You will miss things you would've learned if you had otherwise tried your best. Because you didn't exert effort, you fail to learn the skills that education would have provided had you tried. Basically, I think motivation affects all but one factor, therefore it's the most important.

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  10. Skill and motivation are key to being successful in life. If someone isn't motivated to do things, it isn't going to get done. When you're motivated, you tend to work harder to achieve a goal. Skill is something that is continuously developing throughout your whole life and the more skillful you become, the better off your life will be.

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  11. The most important factor to me is motivitation. Without motivation, you will not get very far compared to a person who does have motivation and will get alot more oppurtunities in life and fulfill their potential. A person with no motivation will not get far. I have alot of motivation, because even though i am not a fan of school, the more i learn, the more i can apply to my future and the more i can benefit from it. If i didn't have motivation, i would not get as many of the oppurtunites as i have with my motivation. i would not be very far in life today without it.

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    1. I also believe that motivation is the most important thing. Without motivation you would have no reason to gain any skill

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  12. I believe that motivation is the key factor in becoming wealthy. I think this because without motivation you won't put forth the effort to gain any skills. Next in my list is effort because if you put out more effort you'll gain more skill. Skill is next on my list is skill. You need at keast some skill to do something well. Without skill thing would be done poorly. Last on my list is luck. Beacuse luck isnt taught luck skill effort motivation

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  13. i think that work ethic, or effort is the most important thing. because you can be good at something like math for this example, but if you don't have the motivation to put the effort in, than its a waste of talent. meanwhile you can learn talents and if you have the motivation you can put them to use.

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