Google’s co-founder Sergey Brin helped found the company in 1998. Since then, he has stepped down as president of the parent company of Google, Alphabet, in 2019, but still has a net worth of a whopping $186 billion, according to Forbes. Here are some of the best pieces of advice he’s given about how to run a business and grow individual wealth.
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Easy Money Is Not What It Seems
“When it’s too easy to get money, then you get a lot of noise mixed in with the real innovation and entrepreneurship,” Brin said.
Brin pointed out that ease does not always lead to money. In fact, some friction might be needed to generate a million dollar idea. According to the LA Times, Brin said at the 2008 World Economic Forum that challenging times in Silicon Valley are what led to the most innovative and lucrative technology.
Never Stop Growing
“It’s clear there’s a lot of room for improvement, there’s no inherent ceiling we’re hitting up on,” Brin explained.
Brin said this back in 2005 when he and Google co-founder Larry Page were named “Financial Times” men of the year, according to The Irish Times. Here, Brin is embracing a growth mindset, acknowledging that even in times of success, there are always improvements to be made. One of the strategies for growing wealth is to always be looking for more ways that your current work can be improved. This will open up more opportunities for innovation and, in turn, financial growth.
Success Should Be a Fun Process
“I had no dreams of such economic success. You should have fun and not be so weighed down by expectations,” Brin said.
According to the World Economic Forum, Brin’s goal was never to make money, but to solve problems. From this statement, it could be suggested that one’s purpose should never be to simply acquire wealth, but rather to pursue what you’re interested in. If you’re really passionate, money will follow.
Understand the Problem Before the Solution
“I don’t have a solution for you — I’m just saying that I think posing the problem correctly is perhaps more important than defining the solution,” Brin said.
In a 2009 article in The Guardian, Brin said that in order to provide an answer to a need in the world, you need to fully be able to articulate that problem. Developing a prosperous fix for a common ailment means knowing the problem inside and out and being able to answer every angle of that issue. Then, you can continue to develop products and strategies that will provide for the people and make money in the process.
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This article originally appeared on GOBankingRates.com: Google Co-Founder’s Best Advice for Building Wealth
