You will no longer have an excuse of “obligation to someone else”. Every action you make is going to directly impede or help your future success and the only person you get to reward or blame is yourself.
This is not “cold hearted”. It is much more cold hearted to donate your time and help 20 people when you could have donated several hundred thousand dollars (or even millions!) that will help thousands of people instead.
Self-doubt is normal and is something you will have to learn to deal with. But. If something “pumps you up” then you’re being sold something on the back-end. Stop consuming it. Reading about the struggles of someone else will not benefit you. If you need to read stories like this… it means you’re not taking your own life seriously.
Find a single person who wants to succeed as badly as you do and make sure you keep in contact for at maximum one time per month.
If you can find a single person willing to give 60-80+ hours of effort per week, the chances that you both make it will be magnified. You’ll likely hit different hurdles and a thirty minute conversation once a month will help jump over those issues each time.
Importantly, you should choose different industries, this makes it impossible to compete down the line. In the long-run? Your questions will cease as the issues become too specific (a good thing).
If you’re young, you get the privilege of testing how far your body can go and once you actually break down (once) you’ll know exactly where the line is.
As you try out different fields, you’ll only keep a list of items where *other people* tell you that you’re good.
Sales is the *most* transferrable skill you will ever learn. Every single second you spend improving your salesmanship will give you a 100x return (our exaggerated assumption!).
You will likely need to trade time for money at a very early age in life (covered later in this book). However. All of your free time will be spent on a scalable business. A scalable business that is worth your time has two attributes: 1) recurring income and 2) a large addressable market.
“Your goal in life is to operate as efficiently as possible and improve upon that qualitative metric every single year”
We would recommend choosing 1-2 items at a time instead of trying to become efficient in every single part of your life over-night.
Your physical health is the most important asset you have.
All Physical Decisions Compound: Just like investing. If you don’t put in the work to improve your body it will only become harder to do so as you age.
If Nothing Can Be Done in the Present Ignore It. If you or someone you care about cannot do anything in the present to impact the issues they are dealing with, they must shift their thoughts to something more beneficial.
Unless you’re a professional sports player, your goal is to find a way to profit off of the effort of others.
Take a good look at everyone you talk to on a daily basis and ask if they are moving up. If they are not? You should move them out of your life. Take a good look at each contact and make this decision.
By making decisions fast and on our own we can train our brains to create a decision making filter based on the premises outlined above. Unless the decision will be life changing (rare items such as the decision to attend college, new career to take, deciding to have a family etc.) we should train our own instincts because it is a real and learnable skill. Good instincts will help you in the future as you develop “on your feet problem solving skills” as the suits will tell you and it will prevent you from becoming a bottle neck in any organization. If you can’t develop good instincts you can never lead.
At the end of the day, until information is applied it has no value. If you do not have the *potential* to reach the top 10% (at minimum) in the new task you’ve decided to try, it should be dropped.
The rough guideline for looks is known as the golden ratio with the following rough metrics: Measure your wrist measured at connection point to arm. Chest: 6.57x; Waist: 4.57x; Hip: 5.57x; Thigh: 3.43x; Bicep: 2.43x; Neck: 2.43x; Calves: 2.29x; Forearm: 1.86x.
With your ideal metrics largely in place, we suggest picking up a sport for recreational purposes. This does not need to be daily as you will simply use the commitment to make sure you’re involved physically and don’t decline at a rapid rate over night.
Unless you’re trying to achieve an elite physique past the top 10% or so, you’re allowed to eat as much as you like. The key is that you’re sticking to a diet that is lower in carbohydrates and does not include “cheat meals” for sugary items such as candy bars and cake.
Talent just like willpower can actually improve and you can become more talented over time. 99% of people will not attempt to become good at anything and that alone will thin the field for you (they give up within five years). If you’re worried that the vast majority of people will wake up and suddenly start working hard, we’ll go ahead and guarantee you that it won’t happen.
The most important skill in life to even find your intellectual abilities is *will power*. If you develop an immense amount of will power which is a skill that can be improved upon you will find a way to succeed. You can score mediocre in every single category. But. If you have immense will power, the competition will fall off a cliff shortly.
Predicting the actions of another person, not what they say but what they will do, is an invaluable skill that will prevail over the next 40+ years.
Improving at Intent:
- Read 5 copywriting books
- Take a topic you know extremely well and ask a person (friend or new acquaintance) “Hey I don’t know anything about XXX can you tell me about it?” Then see how long it takes for them to start making up information
- Hand out harmful personal information. This means you take one piece of information that would be “bad” if people knew about it and see if it gets leaked. The trick is to make sure you only tell one person. The second trick, if you want to lean on the safe side, is to give out information that really isn’t true. By doing this you’ll be able to build up character qualities of people you trust.
Similar to predicting actions and sales, synthesis is the second unspoken form of intelligence. In short, you’re probably a fantastic person when it comes to “networking”. Why? You can quickly make a connection with someone.
- You synthesize his or her skills and put them in contact with the right people to fulfill their needs. (transaction complete!)
- Can you predict which friends will like each other?
- Ask questions surrounding items that most people lie about and *mentally* write them down. In a year or so, yes this takes commitment from you, ask the same set of questions and they will likely have lied about a handful of them. The number will change or the story will change dramatically (humans have terrible memory). Now the question is if you can recall roughly what was said and immediately realize it doesn’t add up. If so you’ll be good at synthesizing data in meetings, giving you a large leg up in predicting which company has problems and which one does not.
- Write down the industry you know well and calculate the next strategic move that specific company/team/industry will make. If you correctly predicted that Facebook would acquire WhatsApp or Instagram you’re a genius. If you can do this on a small scale (predicting what type of home your friend will buy) then you have a knack for synthesizing personality and fit for a specific sector
- You should read multiple reports during your spare time on an industry you’re interested in. This is how synthesis intelligence is built, through compounding information. As you learn more and more statistics about a specific industry find the data that conflicts. Figure out why it conflicts and where the error is. If you’re able to do this without combing through the data 5-6 times over and over again you’re going to have a knack for synthesis (a skill that can be learned!).
Why in the world does everyone assume that being good with numbers is the end all be all of intelligence? It is nearly impossible to find this type of talent. This is both a blessing and a curse if your skills lie in numerics.
- Are you blowing through the math section of your SAT
- After blowing through these exams did you step on the gas pedal through an elite university? IE: you were not studying hard yet landing A-‘s or better in complex courses?
- Can you read a statistics report and immediately laugh at the findings?
- Did you get through the 5+ round process to work at Google, Facebook or as a Quant? (obviously you’re good!)
On College and Careers
Your average college is a complete scam. There is no way to justify the cost benefit analysis of attending a four year university where you accumulate $100K in debt and obtain a 9-5 job (if you’re lucky) that pays $45K/year.
Only a fool wouldn’t maximize every single hack he could to obtain entrance into a Top 50 University. The system currently favors “I want to save the world and I’m a great human being by society’s definition” type applications.
We emphasize breaking the rules not the law. That is always our stance. If you’re certain that saying XYZ will help you get in and there is practically no way to check it, go for it.
In a single sentence: Do the bare minimum to get a 3.7 GPA, focus all other time on getting work experience and building an online business.
The best recommendation is software related engineering. More specifically, become involved in robotics, artificial intelligence, machine learning (“Deep Learning”) or a high operating income software company. Since the future is going to be heavily software, it makes more sense to go in this direction. You’ll find more and more companies hiring for these positions and you’ll find yourself developing transferable skills.
In short, follow the top-line Revenue Growth and the Profit per Employee (Cash Flow).
At the end of the day, working for someone else will not be sustainable. It is not smart to put your life in someone else’s hands. They have no attachment to you and are more than happy to get rid of you if they’ll net a long-term profit.
On Online Business
We are on the side of selling anything legal that works. This means “how” you sell the item is irrelevant. If you’re selling an enterprise software product and it works, we don’t care if you sell it by using spammy messages, by using direct traffic or cold calling. It does not matter how you sell.
The real question is “Why do people buy?”. Forget about the product’s value. The vast majority of products in the market have comparable functionality. Coke and Pepsi are not that different. Smartphones are becoming largely homogenous. Your favorite brand of clothing likely has a peer with mirroring designs. Again. “Why do people buy?” The Answer: Insecurity or Emotion is why they click BUY.
Take a step back. Instead of asking what’s in demand ask “What emotion or insecurity does this target?”. You will change your target market dramatically. If you want to be rich (you deserve to be rich), then you have to target an innate insecurity/fear.
You’re going to sell high margin products in the sector you choose. There is no “best sector”. But. People are going to ask for specific examples so here are a few: skin care, perfumes, diet pills, anything “brand name”, electronic content and all high ticket priced items (homes, equipment, anything with a sticker above $10K).
In short, you’re going to sell online and you’re going to buy traffic when you have narrowed down your target market. We are advising you to target insecurity & fear.
Just don’t be foolish enough to tell your customers that you know they are at the bottom of the totem pole. Sell the items and keep them hyped up (emotionally charged) and highlight every single possible success story you can.
In short, the product doesn’t need to add a lot of value. Your product simply needs to make the person feel good and avoid any sort of pain (do not try to convince people to do ANY actual work for ANY product: diet, skin, make money online etc.)
If you’re running a small scale business (ability to get to seven figures per year in annual income but tough to get into the eight figure range) then you don’t need to hire anyone. If you need a specific task done that is outside of your core competencies, then you can hire an outside agency to do it for a flat rate. This means you don’t have to worry about a payroll. You don’t have to worry about hiring and firing. You don’t have to worry about “management” in general.
Before you spend $50-100K creating your product it is best to see if you can sell the product in the first place. Under no circumstances do you create a product without seeing if you can sell it first.
When your business is running smoothly (enough for you to live), we strongly recommend bleeding the cash flow dry. Since you likely have several raving reviews, it will take the Company at least a full year to get rid of you. You can simply decrease your effort level every single review cycle until you’re out the door.
On a Personal Life
All vacations should be international when you’re young. This is both cost effective and return effective. If you’re taking two weeks off to go and live it up, then you should target low cost countries with a party scene (Eastern Europe, South America, South East Asia etc.). By doing this you reduce the cost of your vacation expenses and you see what money can do for you. By spending a few thousand dollars abroad you’re getting the spending equivalent to 3x that amount in the United States
All problems with dating can be summarized as follows “Whoever needs the other person the least is in control of the relationship”.
We are 100% against getting legally married due to the higher tax rate (outrageous that it is set up the way) and the loss of 50% of your assets at any time (for nothing).
Relationships don’t take work. If the girl you’re dating demands too much time or too much of your resources either you’re not where you need to be financially or you are not that interested in the girl. If there is a lot of conflict all of the time just move on
Don’t expect any girl you date to be perfect. You should know the downsides of the girl you’re dating and decide if that is something your personality lines up well with. If a girl puts a lot of value in going to Broadway shows and dinner, then consider that a change in your lifestyle versus nightclubs and bars. If she’s more interested in going outdoors, then decide if you’re willing to adjust your social life to doing outdoor activities on a regular basis.
The best advice for managing a relationship is “don’t ask for advice”. If you ask for advice on how to handle your own relationship then you’re going to lose the girl anyway. If you’re not willing to lose your girlfriend she’ll end up leaving you anyway. That is probably the most common mistake people make. It is also why we laugh when people pay hundreds or even thousands of dollars for relationship counseling
Make your lifestyle clear. If she doesn’t understand how you live your life, then you’ll create conflicts from day one. Make it clear and then see if she’s still interested. If not, it wasn’t going to work out anyway
Don’t let anything drag along. If you realize 3 months or 10 months down the line that it is not going to work, go ahead and end the relationship. It does not do you any favors and does not do her any favors as well. There is no reason to be nasty about it just separate on positive terms
Notice we had no sections on “thinking like a winner” that is because there is no such thing as “Thinking and Growing Rich”. Thinking about becoming rich is what the masses do and that is exactly why they don’t get rich. Instead, you’re going to come up with a tangible plan, and execute.
If you’re not executing every day, you’re falling behind every single day.
We’d summarize everything in this book as follows. Get in shape, start making money off of performance and all your extra money should fund a real second source of income *before* investing in assets. When you get rich? Feel free to do as you like, just don’t run out of money before you die.