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How one million is made (Investing time and money (1h 4min
Money works
…
How one million is made
Goal setting
Set
- short(smart) goals => dopamin => feel good
- long goals => no dopamin => no focus
- Always lead with a reward
- Understanding money needs to become instinctual 24min
Visionaries and practical people. You need to combine the best of both worlds to succeed! Realize which one you are, and develop your other side.
Vision:
- Big
- starts from 18 months
- motivating
Goals:
- Small
- daily
- get feeling of progression!
(dopamine)
Big visions create motivation
=>
-Vision boards:
- health
- wealth
- love/social life
- happiness
Summary:
- You need to know how to motivate yourself!
(Vision/Goals)
- Have to have blend of Imagination and vision
- Have to understand Rewards and Risks
- Not just an idea, but Idea on steroids
(Rare/difficult/In demand)
- Invest in knowledge and mentors
Investing time and money
1h 4min
- Money works
- RA => reciprocal altruism => You get paid in a proportion to what benefits people.
=> how much altruism and benefit your idea is going to make to other people predicts how much money it makes,
1h 18min
- You get paid proportion to the difficulty of a problem you solve.
Factors that count:
- Difficulty
- Rare
- in demand
1h 39min
- RR Formula
Reversing Risk
=>
<=
Rewads:
Risks:
2h 18min
Spending Creates WealthsSave:
- You create money for the bank
RRD:
(Rust,Rot,Depreciate)
- consumer stuff lose value rapidly and creates wealth for companies
Investment:
- Depending on investment +/-
Best investments
=>
- Knowledge
- books
- seminars
- conferences
- programs
- masterminds
- Mentors
Tactics
40min
Focus where you spend your mental energy!
- clothes choices
- business
- learning?
Automate your daily task as much as possible.
Schedule your days for month!
43min
Cut something off! You cant have leisure time and success at the same time!
You can have anything but not everything => sacrifice useless stuff! => Focus
2h 11min
Think what has least amount of reward in your life and cut it out!
2h 5min
- Get multiple incomes
- you get what you put in
- read a lot
Strategy
1h 36min
- Idea => Plan strategy
Idea on steroids => Strategy
1h 25min (good listening)
- Empathetic imagination
- Be empathetic
- whats empathetic in your vision