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Getting Rich in IT - Possible or Not??

By netcap ·
As a ambitious 28 year old guy looking to become stinking rich in the not too distant future, I find myself wondering how Mark Zuckerberg from Facebook and various other wiz-kids get there so young...is there a short cut to the finish-line (in IT) or as the saying goes do all good things really come to those "all so patients optimists?"

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Theory

by CharlieSpencer In reply to Getting Rich in IT - Poss ...

I believe many of them first developed an enjoyment of IT strictly for IT itself. Some pursued this through formal academic channels. They built, programmed, or designed something they were personally interested in, often with no initial concern whether anyone else was interested or whether it was marketable. They then found there was public interest in their output.

In other words, they didn't initially get into IT because they were ambitious and looking to become stinking rich.

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People who get stinking rich. . . .

by maxwell edison In reply to Getting Rich in IT - Poss ...

.....don't usually follow the money. They follow their passion.

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Agreed...but many also have good business instincts

by JamesRL In reply to People who get [i]stinkin ...

Bill Gates had a modestly successful company based on his love of programming, then hit the big time when the opportunity arose to provide an OS for IBM. He didn't have one, so he acquired one quickly. His instincts were that this investment would pay off handsomely and it did.

We have a show in Canada called Dragon's Den, (there are similar shows around the world) where entrenpreneurs pitch to the "Dragons" who are all very successful entrepreneurs themselves. One of the most successful of them sold his educational software company for many billions of dollars. His passion was building the company, and his instincts helped him grow it and sell at the right time.

James

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And I agree with you as well

by maxwell edison In reply to Agreed...but many also ha ...

I might add, that no one ever got filthy rich working for someone else - with a few exceptions, of course. While working for someone else, the best one could expect is to get modestly rich over the long term - if he/she is diligent and consistent with a reasonable savings plan. Reading The Millionaire Next Door is a great read that describes that path.

But those who get filthy rich in what might seem to be a very short time, do it as an entrepreneur, not as an employee. And if a person is not willing to take the risk to venture outside the security blanket of normal employment, it'll never happen.

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I will add....

by JamesRL In reply to And I agree with you as w ...

Dragon's Den has 2 very rich people who made their money from software, out of 5 Dragons. One of them is an immigrant who arrived with virtually nothing but ambition and desire.

You are absolutely correct, you can't make a fortune without going out on your own and taking a risk.

I have a distant relative who made it big. He made some significant and recurring income from a patent, but it was when he took some of that income and went into creating a business on his own that he made his fortune.

James

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Your best bet?

by NickNielsen In reply to Getting Rich in IT - Poss ...

There are no short cuts, only luck and good instincts. Come up with the idea for the next Facebook or Google, start it up, make it successful, then take it public. Concentrate on your own success; if you spend time wondering how Zuckerberg, Yang, and others got there, you won't make it yourself.

My recommendation? Work in IT because you love it. It's a lot easier to enjoy the money you do have if you're happy at work.

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