I just learned about this guy - Ramon van Meer - who started a website called SoapHub.com and sold it for just under $9 million USD. Not bad! He’s made even more money since then buying and scaling Alpha Paw - a company that creates breed-specific products for dogs. Here’s what I learned from listening to him talk about building his blog on the My First Million podcast.
Read MoreInternet real estate is valuable. Just like real estate in the real world has location value, internet real estate like domain names, websites, social media accounts, email lists, and online platforms has value based on visibility, traffic, and the potential to generate sales. If you haven’t started yet, it’s time to build digital real estate.
Read MoreThis article is for couples who want to start a business together and are looking for ideas. I married a total rock star. And I couldn’t have taken the “unconventional” path without her support. We started a business writing movies and creating content together, and it was the best decision we ever made. If you have a special someone in your life and have been thinking about what it would be like to work together, here’s a list of 10 business ideas for couples and how to start them in 2023.
Read MoreIf you want freedom, it’s time to start building online. Whatever skill you have, whatever business you’re in, writing & creating online is a cheat code (kinda like Super Mario Bros 3’s magic whistle - I f*cking love that game) that will open you up to so many opportunities, you’ll wonder why you didn’t start sooner. Here’s why…
Read MoreThere are lots of ways to define intelligence, but only one I really like. It’s Naval Ravikant’s definition: “The only true test of intelligence is if you get what you wanted out of life.” If you got what you wanted, you’re smart. If you didn’t, you’re not. But there’s an even more important question embedded in the premise of the first: Are you wise enough to know what to want to begin with? Because if you aren’t, you’ll waste your life chasing booby prizes.
Read MoreThere should always be a delay between the time you do something, and when you get paid for the work you did. That means you’ve created an asset or product or invested capital that’s making money for you. What you want to avoid is exchanging your time directly for an hourly wage. As Nassim Nicholas Taleb says, “If someone pays you for anything other than a specific transaction, you are a slave.”
Read MoreIf you’ve played around with OpenAI’s ChatGPT or Dall-E programs, you know that the “robot army” has arrived to carry out your orders. But now, you don’t even have to speak their “language” to control them. Text-based interfaces allow you to give instructions in your language, and the artificial intelligence will carry it out in theirs. The days of having to learn how to code are quickly disappearing - just give good prompts, get good results. And when everyone has infinite leverage, your judgment and taste are what matter.
Read MoreThe world is flush with quick dopamine. You can make a TikTok video in minutes and get thousands of views in seconds. A Twitter thread that took you ten minutes to write can go viral with millions of impressions overnight. And it feels really good. It becomes brutally hard to stick with things that take much longer. But that’s where the real competitive advantage lives. When you do things that take years, not days, you compound your efforts with small, incremental gains, and immediately escape competition from anyone with a shorter time horizon. The longer it takes to do, the larger the competitive advantage in doing it.
Read MoreThere is no easy way to build wealth. If there were, everyone would already be rich. As Charlie Munger says: “It’s not supposed to be easy. Anyone who finds it easy is stupid.” There are no shortcuts. Every “get rich quick” scheme gets the person selling the scheme rich, not you. Stop cutting corners and start focusing on creating value instead. Start compounding small amounts of money and skill and watch it grow for decades.
Read MoreIf you are young, inexperienced, and have no idea where to start your wealth creation journey, then great. You have the best chance of getting rich.
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