18/07/2021
Are you ready to reprogram your mind?
Our current school system fails children in just about every way imaginable when it comes to teaching kids about money. Thatās why we often hear people say so many crazy things when weāre growing up likeā¦
ā Debt is bad
ā Credit cards are bad
ā Being an employee is secure
ā Put all of your money in mutual funds
A true capitalist doesnāt have a job because other people and other peopleās money work for them.
And for me, because of my financial education, debt is part of the picture.
People are complaining about the banks these days. I love my banks ā theyāre giving me millions of dollars. Iām borrowing as much as I can to get richer.
On the financially uneducated side, unfortunately, debt and taxes make people poor.
It isnāt just me that knows this either.
Today, I have five lessons from Jeff Bezos that will change the way you look at business and money.
1ļøā£ The Regret Minimization Framework
Jeff Bezos had a great job as a software engineer.
When he told his manager about his idea to start an online bookstore, his manager asked him to take some time to really think about it before quitting his āgreatā job.
When Bezos thought about it, he came up with the regret minimization framework. He asked himself, āWhen Iām 80, will I regret not doing this?ā
When he answered yes to that question, he quit his job and started his business.
2ļøā£ Amazon Has A Net Debt Of $3.15 Billion
Amazon makes a ton of money, but they also have a ton of debt.
Most people think of this as a bad thing.
But what people who are financially educated know is that debt allows you to increase the amount of money you earn with incredible velocity.
Debt is a tool that helps you grow.
3ļøā£ Think Big
People who love books often dream about opening one bookstore.
Thatās just a recipe to be in the S quadrant, a place where youāve just created a new job for yourself.
Instead, you need to think about scale.
If you want to be in the B side of the CASHFLOW Quadrant, you need a business model that can grow and scale without you involved in the day-to-day operations.
Obviously, Amazon grew with enormous scale.
4ļøā£ Failure
Most people are afraid of failure; thatās why they remain employees.
But as Bezos has said, āIf you double the number of experiments you do per year youāre going to double your inventiveness.ā
And with experiments comes failure.
Thereās a reason why you donāt see anyone walking around with an Amazon Fire Phone.
5ļøā£ Spend, Spend, Spend
Savers are losers.
If you look at what Jeff Bezos has done with Amazon, itās amazing if you think about how much money heās had to spend to do it.
But not only that, donāt spend your money on taxes.
There have been years where Amazon paid $0 in federal income tax because they understand how to partner with the government to give them what they want.
If youāre looking for lessons on how to get into the B-I side of the CASHFLOW Quadrant, look at Jeff Bezos and Amazon.
There are a ton of lessons to learn.
Another lesson I want you to have is how you can create digital assets, from scratch!
Now, there are many ways to start creating such assets.
But this one caught my attention because:
It doesnāt take you much time - about 30 minutes per dayā¦
ā You donāt need a product or service - you can use other peopleās productsā¦
ā You donāt have to sell anything - others do thatā¦
ā You donāt need a website, a blog, a podcast, or a YouTube channel - you just need a 1-page websiteā¦
ā You just send simple emails with links to other peopleās products - for which people are willing to pay you up to 75% of the money they make because of your emailsā¦
If this sounds as interesting to you as it did to me, then I suggest you grab your free copy of Anik Singalās book - No Product Business.
In this short book, Anik dissects the business model that helped him sell over $300 million worth of products and services. With just a simple page. And equally simple emails.
You can get your free copy here >> https://edu.lurn.com/SH2F
Not only that, but youāll also get immediate access to Anikās free webinar, where he goes into even more detail about this business model.
So if you want to build a passive income stream without owning any product or having to sell anything, go to this page and sign up for this free book + free workshop >> https://edu.lurn.com/SH2F