When you’re running a business, it can feel as if there are a thousand tasks at any given moment.
You’re trying to grow revenue, but you’re stuck in the whirlwind of endless meetings and other people telling you what to do.
The problem is every team member has their own priorities. It can feel like you’re trying to row the boat forward, but everyone’s paddling in a different direction.
“You know it’s time to sell when shoeshine boys give you stock tips”
This is a famous quote in the stock market. It means when everyone’s talking about a subject; then it becomes too popular for its own good.
I knew I should’ve sold Crypto when my uber drivers and barber started talking about their portfolio. Everything crashed a week later!
Everyone has the same 24 hours in a day, but we all have different results in life.
This imbalance fascinated me growing up.
I remember everyone telling me that hard work was the secret to success. But my mom worked two jobs when I was growing up, and we didn’t grow up rich.
For the past several years, it seems like every week I get a question from someone asking “how to get rich quick.”
“How can I be a millionaire within the next two years.”
You’ll see these guys in affiliate forums declaring that they want to make $10,000 a day within a few months.
How do you tell if someone is wealthy or not?
When I was growing up, my framework was the same as everyone else’s. If a family lived in a nice home, drove fancy cars, and went on exotic vacations, then they were rich.
But then a few things happened that changed my perspective.
I remember taking a class once in university where we had to learn how to create a “business plan.”
The professor gave us a fictional business idea and we had to theorize what the next few years would look like.
Here’s one of the most powerful things I’ve learned about marketing: people make most of their purchases based off of the identity that they want to achieve.
Your “identity” is the image of yourself – it’s not who you actually are.
We all have an “Identity” that we’re trying to achieve, and an “Identity” that we want other people to see us as.
Reality: John is a 20-year-old, broke college student
“How much money would you have in your bank account if you could reverse the three dumbest financial decisions of your life?”
My heart sank as I started doing the math.
“Now think about what was going through your mind to come up with those decisions.”
Ah fuck…I’m an idiot.
What are the major milestones according to your family and society?
It probably goes along the line of:
You graduate from university.
You get a career.
You get married.
I was listening to a podcast the other day, and the host asked the guest an interesting question:
“What business beliefs did you strongly hold before, but you have since changed your mind about?”
This is a powerful question because shows how someone can adapt and evolve.
I always think it’s dumb when people brag about how they’ve “never changed.”
My core value in life is progress.