When asked if you would rather be wealthy or famous, how would you answer? Are wealth and fame the same thing?
According to studies, the vast majority tend to say fame when asked if they prefer wealth or fame. When asked why they choose fame, the answer in response is usually another question- “Well, aren’t they the same thing?” They are NOT the same thing. You don’t have to be wealthy or famous to understand the differences and concepts of each. Ultimately, there are three key differences between wealth and fame and we are here to enlighten you.
3 Key Differences between Wealth and Fame
Wealth Comes from Goods and Services
You receive money from selling a product or from offering a service. You have to give something to get something. For example, stocks are traded all the time or you give your time to your 9 to 5 job every day in exchange for money. You can’t go into a bank and expect them to give you money because you have a strong social media presence or a lot of popularity. This just doesn’t equate to wealth. Not all social media influencers are making it big financially due to their fame. However, there are ways to heighten your wealth through social media popularity and strong online presence. In this case, you are leveraging your audience with your services and/or goods. You don’t have to grow your following first to necessarily earn a profit. Your services and goods should have a reputation that draws an audience to you.
Wealth Is Something That Is Spendable
You can withdraw 10 million dollars if you have 10 million dollars. You cannot spend followers (social media presence). Followers do not put money in your pocket. People are doing so many things to be famous. They want to feel significant, it is an essential human need. Everyone wants to feel like they matter. The best way to feel this way is to offer something of service to your fellow man. We’re not here just to consume. We are here to create. Wealth is spendable. Services can be rendered. Goods can be used. BUT fame- well, it just sounds nice.
Wealth Can Get You Fame but Fame Doesn’t Necessarily Get You Wealth
To start with an example, Gary Vaynerchuk has a phenomenal social media reach so people tend to think he is rich because of his social presence. However, he has a phenomenal social presence because he was already wealthy from investing in companies such as Facebook, Twitter and Uber. He took action and invested in products, goods and services. There is also Kevin O’Leary a.k.a. Mr. Wonderful from Shark Tank whom is deemed rich because he has a master portfolio that includes investing in real estate, services and goods, among other things he believed in. These successful entrepreneurs chose to invest in themselves. Because they exchanged goods and services to amass wealth they used that in smart ways to leverage their social platforms for a wider audience. Now they are famous and built legacies for themselves.
Offering goods and services is a selfless act because you are opening up ways and creating opportunities to improve each others’ lives. You’re taking the wrong approach if you think to yourself “God, I need to gain more followers.” Instead, you should be thinking “How can I help more people,” “How can I reach more people to help them,” “How can I be of greater service to more people?” With that mindset will come the wealth and fame. Find out more on this topic by watching this episode of Coffee with MoJo and becoming a MoJo Insider by hitting that subscribe button! We promise you won’t be disappointed.
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