There’s been a buzz on social media recently about one billionaire entertainer/entrepreneur, Jay Z, having a cousin who asked for an “investment” of about $4,000 and he turned them down.
$4,000 isn’t much to an entrepreneur with access to hundreds of millions of dollars, no?
Well, first off, that’s not for us to say or determine. Part of understanding finance is differentiating “liquid assets” from net worth. Simply put, we don’t know how much money he can access at any moment, nor should we try counting his pockets.
Second, this isn’t a matter of ability but one of principle. Many feel that just because they have proximity to a person, they’re entitled to what they have. That’s a flawed sense of community and a majorly over-inflated sense of entitlement. Jay Z, under no circumstance, is obligated to give anyone anything. Point blank, period.
Beyond the sheer principle, though, is a larger lesson for growth. In this situation, we should ask ourselves two questions. First, what’s your stance on being told “no”? Does it cause you to shut down and pout, or does it inspire internal reflection and self-discovery on how to make the next ask a “yes”? Second, which do you find more valuable — what’s in a person’s head or what’s in their hand?
Check out one of my recent posts on social media discussing this, and let me know what you think.