I was thinking the other day as there was a person who was working with one of the wealthiest person in a country where to me it seemed like they just wanted to invest in something as opposed to just letting their money sit in an account and do nothing. So the person basically wanted to try everything from making inventions to even movies to hopefully turn a profit afterwards. Almost reminds me of like Microsoft before where they made so much money that they were eager to try something else which happened to be the video game industry and the creation of the Xbox.
From the sounds of it the person they hired is pretty much given full control in one of those “just don’t be irresponsible with my money” approach. It’s almost like instead of micro managing people one simply tries and empowers people to do the best as they trust them. So with that responsibility to build something the person asked me if I could do a specific job for them with pretty much the same type of approach. Basically they just gave me a general guideline of what they want but other than that I have full creativity and control to make something out if it.
Now the main challenge is finding people you actually trust of course. But people often day the key to making and maintaining wealth is to find ways to leverage your time. This whole process and approach makes that happen when you think about it. I would imagine it could take way more energy and time if one chose to go with the extreme micromanaging route. But trusting the people you hire or invest in is definitely a great way to go.
I always find it strange as an example where people pay someone hundreds of dollars per hour only to insist that they be there every single minute to monitor them while giving input. I think like hiring a chef it’s best to let them do what they are good at as that is why you hired them. Imagine standing next to the chef every second telling them how to cook per se. The whole point should have been you hired someone to do it so that you don’t have to. Kind of a simple thing yet a lot of people don’t do that huh?