Want to earn your first bucket of gold in life? Choosing the right industry is crucial! "The richest post-90s on Earth" Sun Yuchen shared 5 rules for wealth creation that are worth considering for both career choices and investments.

1. Choose emerging industries that are on the verge of explosive growth.

You should choose emerging industries that haven't had a major explosion yet but are about to, as this is when the industry benefits are the greatest. For example, in the live streaming industry, even if you join a leading company with average performance, you can still make money alongside the industry benefits. But don’t enter too early, or you might become a martyr; many early players in artificial intelligence ended up being casualties. Also, don’t enter too late, or you’ll miss out on the benefits.

2. The industry will experience long-term high-speed growth.

The industry must be able to grow continuously at a rate of at least 20% for 10 to 20 years. Just like Buffett chose Coca-Cola, what he valued was the long-term growth potential of the industry it is in, which aligns with the "eighth wonder of the world" of compound interest. By this standard, many companies in the A-shares market do not meet the criteria.

3. The model can be quickly replicated.

The model of an industry or company must be able to replicate quickly like a virus. For example, after Qudian established its risk control model on campuses in its early days, it was able to quickly expand nationwide and went public in two years. However, models that rely on chefs, such as Chinese cuisine and Michelin restaurants, are difficult to replicate, making it hard to grow and earn profits. The internet industry fits this characteristic very well.

4. Demand must be clear and essential.

It is necessary to choose fields with obvious rigid demand or new demands that have not been tapped into. For example, social software meets people's needs for boasting and socializing, while the iPhone satisfies everyone's rigid demand for a good phone. If the demand is fake, then the project is unlikely to succeed.

5. It should be suitable for yourself or your team.

Even if the first four points are met, if the industry or company does not align with oneself or the team, it will be difficult to succeed. It's important to understand one's own capability boundaries and choose a field that can be managed.

Brother Sun also said that diligence is a basic requirement and does not need to be overly emphasized; the core is to strategically choose the right industry. The internet industry is a good choice, and non-internet industries also need to think about how to combine with the internet to improve efficiency.

In addition, you can also pay attention to the "Haoran Club", which is where traditional industries are迎来新机会 due to changes in trends.
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