Wealth is not an end in itself. What money buys is the freedom of your time to design a lifestyle you love. We are all here for such a short time - years pass in the blink of an eye. Don’t spend your life chasing more wealth than you need for the sake of making money. Get paid, then cash out.
Read MoreCreativity isn’t an exact science. The best work doesn’t happen on command and when you try and push to make it happen, the work often falls flat. That’s why you should always try and sell your creativity by the execution, not by the hour. When you charge by the hour, it eliminates the magic AND you’re often giving the exponential upside of the project to someone else. Own your upside and keep the magic alive.
Read MoreIf you want to get wealthy, you have to create value AND expose yourself to the upside of the value you create. Most people who work a 9-5 job create value in their position. But they’re usually not paid proportionally to the value they create. If they were, the employer wouldn’t make any money off the employee and the work they do. The key to wealth is simple: create value, then capture it.
Read MoreDrop servicing is the practice of selling a service to a customer for a certain price (say $100). Then hiring someone else to provide the service for the client at a lower price ($50), and pocketing the difference.
Read MoreTo build wealth, you want to expose yourself to situations where uncertainty (unpredictability) is a positive force for you, not a negative one. You want to make bets in areas where surprises push to the upside because of positive Black Swan events.
Read MoreAt the end of Felix Dennis’s book, How To Get Rich, he outlines eight “secrets” to getting rich. In terms of actionable advice on wealth creation, these are right up there with Naval Ravikant’s must-read How To Get Rich tweetstorm, along with his accompanying podcast episodes. Despite the name, though, the reality is there are no secrets to getting rich. There are only models that push you in the right direction. And these will do just that…
Read MoreAfter a year of reading, writing, and applying the models of wealth creators, here are the top 20 ideas that have changed the way I think about the world.
Read MoreIf you are going to become wealthy, you need help. You only have so many productive hours in a single day, which puts a cap on your productivity. What you need is a way to compound your efforts. You can do this with leverage. There are four different kinds of leverage: capital, labor, code, and media. Here’s why media is the most useful to you.
Read More“Seven Cures for a Lean Purse” from The Richest Man In Babylon overviews the basic financial principles of getting rich. Author George Samuel Clason delivers these through the wealthy and wise character of Arkad, who lives in the ancient city of Babylon 4,000 years ago. Not only are these principles still relevant, but they are also easy to understand and apply.
Read MoreYes, you should work hard. But, what you choose to work on and the quality of your decisions matters far more to your success and wealth than hard work. It’s better to be patient and calculated as you wait for the right opportunity to come along than it is to work yourself to the bone on the wrong thing.
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