I’ve actually had many people tell me the reason they aren’t getting rich was because they didn’t have friends in high places to get the best paying positions.  Often, this thinking has been the result of executives or other senior managers hiring former colleagues to key positions.

While it certainly is true that executives tend to hire former colleagues, they primarily do so not because of friendships but because of being familiar and acquainted with a person’s ability, skills, knowledge and capabilities.   As an executive, I have had the option of hiring virtually anyone out there but my thinking process is usually the same and it boils down to a couple of choices:

1. I can take a chance on an unknown quantity (e.g. someone new that I don’t have a track record with)

2. Hire a known quantity.  The person I bring on board may not be perfect but at least I know what his/her key strengths, capabilities and weaknesses are for the job.  I mitigate my risk by compensating their weaknesses with my strengths.

Of course, over the past decade, I’ve had at least 30 positions that I’ve had to fill and I’ve only hired the same person twice for a key position.  Usually, when someone is good at their job, they can easily find a job and when someone is bad at their job, they are always asking for one.

At the end of the day however, ANYONE with determination, skills, knowledge and training can get to the position that they want if they really work toward that goal.  I wasn’t born an executive, I didn’t have key connections to getting higher paid positions; I simply worked my way up with hard work and determination.

Speaking of hard work & determination, it takes a great deal of time to post the best ETF Covered Call opportunities every week so I hope you’ll stop by and check them out at http://www.etfcoveredcalls.com.

Tune in next week for Excuse #8 of why you aren’t getting rich -  “I wasn’t born rich.