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CareCPA

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Yeah dude, good call.

As a coincidence, this was the first thread I ever read on the forum. It helped me make some $$.

Yes - there's another one or two that are longer, I just can't remember where they are.
 
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ExaltedLife

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I mean if you're too cheap to buy the book and you're going to go to the library, you might as well download a pirated copy.

That being said ebooks suck, I like to buy physical copies. Ive bought 3 copies of Unscripted now (two were gifts to others)
 

yaponchik

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Then, once your bank account reaches a certain amount of zeros, and only then are books worth it.

The logic.
He should learn, but not through books. Only an idiot would pay $10 for a successful person's lifetime worth of knowledge am I right?

It's not like, when you are faced with a difficult decision, you are going to look back at some $10 book you read and know what to do. People don't behave the way they do based on what they read in books, but based on experience.

Reading business books when you only have $1000 to your name is about as productive as watching Netflix. One of the biggest reasons people buy and read these books is because they aren't out there doing it - they are sitting at home reading about it (and fantasizing about it). Everyone likes to think that entrepreneurship can be learned and studied, etc. It can't. You either have it, or you don't.

Reading books to learn to become an entrepreneur or a more effective entrepreneur doesn't work. Someone isn't going to have a good idea or become good at sales because they read a book. They are going to have a good idea by being out there doing something and discovering something that could be done better. Or they are going to get better at sales by practicing and getting over whatever is preventing them from being good at it.

Thinking one can be a better entrepreneur from reading a book is like thinking one can be a better tennis player by reading a book.

I can guarantee you the guys behind the 9, 10 and 11 figure companies did not sit around reading business books.

If you've got a $1mil-$10m/year business, then watch some ceo interviews on youtube to learn more about things you'll face.

Drop the books and do the work.
 

lewj24

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Reading business books when you only have $1000 to your name is about as productive as watching Netflix.
I honestly can't believe you wrote this. I'm in shock. Reading books like "My Life and Work" by Henry Ford is as productive as watching Stranger Things? You must not have read any quality books in your lifetime.
Everyone likes to think that entrepreneurship can be learned and studied, etc. It can't. You either have it, or you don't.
Why do people believe this? You can learn how to become a Doctor by studying your textbooks but starting a business? Impossible! You either have it or you don't!
One of the biggest reasons people buy and read these books is because they aren't out there doing it - they are sitting at home reading about it (and fantasizing about it).
Nobody said to ONLY read books. Of course, you must take action along with the new ideas gained from the books.
I can guarantee you the guys behind the 9, 10 and 11 figure companies did not sit around reading business books.
Elon Musk, Warren Buffet, Mark Cuban and more are famous for reading a ton! Maybe you would have known that if you had read about it, but instead you just make things up to justify your point.
 

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1DAA406E-7418-4B7D-8C22-FD016AB51DC8.jpeg

I guess the show must go on without him!

Hey anti book guy... So what you’re saying is learning is for idiots and rich people? Got it.

381ACDD1-A5E0-4772-9B5A-CF5E00DCA84A.jpeg

Also, upgrade your suit, that Armani shit makes you look like a pilgrim. It’s not 2020.25 anymore. It’s all about the DuPont yellow with external ventilator these days.
 
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WJK

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I am hesitant to ask this question as I have seen how MJ responds to stupid and ~very~ broad questions in his books, but I have to shoot my shot regardless. I am a college student in about $15k in debt, soon to be graduating. I work part time and make enough money to pay my rent and necessities, but will not be making enough to save until months in the future. I have just gotten a $1,000 check from my university for a grant. As of now, my options are let it sit in the bank or invest it. Should I hold onto it in the bank with all this talk of a potential crash (high growth stocks are about to be on sale?) or pour it into an already succeeding high growth stock or even crypto currency.

I have little investing experience, just started paying attention to the investing world in the last 6 months and my current assets are small. Any advice is greatly appreciated!
You did NOT say that you have an emergency fund. I'd put that $1,000 in the bank for a rainy day. When you graduate and you are working -- and before -- stuff does happen that you don't expect. Having a little bit of money put back can get you over rough humps and painful lumps.
 

Raoul Duke

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Mark it GOLD MJ!

This thread is the new Game Stop.

MOOOOOOOON BABYYYYYYYYYYYYYYYYYY

FXoQCkx.jpg
 

c4n

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F*** you all who posted here and especially the genius who "fixed" the thread title.

Now I have whisk... umm, I mean coffee, all over my screen :rofl:
 

Raoul Duke

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What to do with $1000 is settled then. DuPont is the new Brooks Brothers. Dress for success! A hazmat suit opens up a whole new world of opportunity.

View attachment 36947



Jesus f*cking christ.

Calm down Marty McFly!

@Knowledgefactry you better be listening to Van Halen when wearing that suit. Ok? Also, when someone bothers you.

You must respond with: "Silence, Earthling. My name is Darth Vader. I am an extraterrestrial from the planet Vulcan!"
 

Madame Peccato

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I mean if you're too cheap to buy the book and you're going to go to the library, you might as well download a pirated copy.
My library's website has a partnership with a big online library, but it gets sad real fast:

1) Not all of the online library's catalog is accessible (why?)
2) The books have the adobe DRM and therefore cannot be read on a Kindle (why?)
3) You HAVE to download a specific Adobe software (lol) to open the book. If you don't have an internet connection you can't do it either. AND you need an Adobe account.

I'd rather pirate the books then. It's literally easier. Like come on.

For OP: Use the $1000 to buy some equipment. Preferably an Hazmat Suit. Or get a Fallout Power Armor. It will protect you from radiations when North Korea nukes your country.

1614249367142.png

Alternatively buy used stuff and resell it. Or buy new stuff and resell it. Does it matter? Use the $1000 to earn $500 and learn about sales in the process. That will be real-world, first-hand experience for just $500. You're welcome.
 
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TheKeywordsGuy

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Start an online service business, if you're any good at doing work that can be done on a computer, even if it's content writing. Find a marketplace, and find something you are good at and can sell, then later create an expert system that sells said thing for you so you can get yourself out of the equation.

The ventures that I've started with the lowest budget which eventually got to make many times that in a single month are still the sweetest :)
 

Tom H.

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I honestly can't believe you wrote this. I'm in shock. Reading books like "My Life and Work" by Henry Ford is as productive as watching Stranger Things? You must not have read any quality books in your lifetime.

Why do people believe this? You can learn how to become a Doctor by studying your textbooks but starting a business? Impossible! You either have it or you don't!

Nobody said to ONLY read books. Of course, you must take action along with the new ideas gained from the books.

Elon Musk, Warren Buffet, Mark Cuban and more are famous for reading a ton! Maybe you would have known that if you had read about it, but instead you just make things up to justify your point.
My Life And Work is one of my favorite books, I even have a quote from it tattooed on my leg.

I concede the point that taking action is now important than reading, which can become procrastination, fantasy or living vicariously. But books are also an essential part of gaining exposure to new ideas, opening your mind and imagination, making better decisions, finding role models and inspiration, and building foundational knowledge. Should we not be reading TMF ?

As far as investing $1000 in equities, it sounds like the stupidest idea possible. Unless your goal is to learn to trade stocks, then go somewhere dedicated to that. If you're goal is to be an entrepreneur, find a business project you can start for $500. You'll probably lose the money, but you'll gain valuable experience.

And yea, use $100 to buy a Kindle.

If you can't afford a book for $10 you need to stop being poor. If you can't figure out how to pirate books you need to stop being stupid. If you participate in communist b.s. then you deserve meningitis.
 

thechosen1

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Okay I know this thread went totally bonkers (lol) but I believe OP has had a lot of good advice thrown at him - buried between the jokes and rants

:)
 

Actionfaker

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I am hesitant to ask this question as I have seen how MJ responds to stupid and ~very~ broad questions in his books, but I have to shoot my shot regardless. I am a college student in about $15k in debt, soon to be graduating. I work part time and make enough money to pay my rent and necessities, but will not be making enough to save until months in the future. I have just gotten a $1,000 check from my university for a grant. As of now, my options are let it sit in the bank or invest it. Should I hold onto it in the bank with all this talk of a potential crash (high growth stocks are about to be on sale?) or pour it into an already succeeding high growth stock or even crypto currency.

I have little investing experience, just started paying attention to the investing world in the last 6 months and my current assets are small. Any advice is greatly appreciated!
I can relate to 'wanting it now' and getting distracted from what you should actually be doing, but I'd recommend spending a few minutes of your time watching this video, you might know the guy who made it, he's produced some cool stuff. Forget about the shortcuts
View: https://youtu.be/r_58zPgArb4
 

yaponchik

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I honestly can't believe you wrote this. I'm in shock. Reading books like "My Life and Work" by Henry Ford is as productive as watching Stranger Things? You must not have read any quality books in your lifetime.

Why do people believe this? You can learn how to become a Doctor by studying your textbooks but starting a business? Impossible! You either have it or you don't!

Nobody said to ONLY read books. Of course, you must take action along with the new ideas gained from the books.

I haven't read any quality books? come on bro.

If someone wants to read a book to learn how to program in javascript, or, or to learn medicine - read a book. But the vast majority of "what it takes" to be an entrepreneur isn't something that can be learned in a book anymore than the vast majority of what it takes to be good at tennis can be learned in a book. You could read that keeping your elbow straight on the serve is the right way, but when you are getting dominated in a tennis match... you won't be thinking back to the line in the book - you have to just practice until the right way is what comes naturally.

There are commonalities among entrepreneurs. You can profile the stereotypical entrepreneur. That doesn't mean they all fit the mold, but it does mean that a combination of what you are born with plus your experience in life make for being cut out to be an entrepreneur, or not.

Same in business. If you aren't comfortable with risk, or if you're too shy to sell, or if you don't have the ability to monomaniacally focus on something until you succeed - you can't learn that from a book. Even if a book tells you that these are things you need "in your toolbox", it doesn't matter, because reading a book doesn't change your character or personality.

You can change those things though - through experience. Someone who is a wallflower but is thrust into a cold calling sales environment for a year will absolutely change themselves when it comes to sales.

So my opinion, IMO, stands. Reading books is a waste of time. I don't mean books can't teach - I mean that virtually all the books written for entrepreneurs are useless. So "5 books every entrepreneur should read" would be 5 topic specific books to their industry. Generic "entrepreneur" books won't achieve anything.

My perception and observation is that people buy and read these books looking for the information that is going to allow them to become an entrepreneur. That information does not exist in a book. If they just need a short-term confidence or motivational boost, then maybe reading some book will help provide that... but if they lack the motivation to start/run a business, they probably don't pass the qualifications to be an entrepreneur in the first place.
 

MJ DeMarco

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It's not like, when you are faced with a difficult decision, you are going to look back at some $10 book you read and know what to do. People don't behave the way they do based on what they read in books, but based on experience.

Reading business books when you only have $1000 to your name is about as productive as watching Netflix. One of the biggest reasons people buy and read these books is because they aren't out there doing it - they are sitting at home reading about it (and fantasizing about it). Everyone likes to think that entrepreneurship can be learned and studied, etc. It can't. You either have it, or you don't.

Reading books to learn to become an entrepreneur or a more effective entrepreneur doesn't work. Someone isn't going to have a good idea or become good at sales because they read a book. They are going to have a good idea by being out there doing something and discovering something that could be done better. Or they are going to get better at sales by practicing and getting over whatever is preventing them from being good at it.

Thinking one can be a better entrepreneur from reading a book is like thinking one can be a better tennis player by reading a book.

Perhaps the most IGNORANT statement I've read on this forum in 10+ years.

Congratulations on such a remarkable achievement, especially on a forum dedicated to the philosophy originated in two books that have sold millions of copies worldwide.

I know I wouldn't be where I am today if it weren't for books, which is why I now write them as they've been instrumental in my life, and will be until the day I die.

Clearly you're not here to advance the purpose of this forum or anyone's higher aspirations, but to troll and peacock your own ego. That's fine, but do it on your forum or your FB page.

My platform is not to advance your ignorance.
 

Madame Peccato

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Books are for NERDS
 
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The-J

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This thread has everything.

- Actual good advice
- Pedantry
- Arguments over pedantry
- Politics somehow (??? the f*ck)
- Memes
- Actual idiotic "advice"
- MJ himself calling out the idiocy
- Fly by night OP

I'm honestly impressed
 

thechosen1

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This thread has everything.

- Actual good advice
- Pedantry
- Arguments over pedantry
- Politics somehow (??? the f*ck)
- Memes
- Actual idiotic "advice"
- MJ himself calling out the idiocy
- Fly by night OP

I'm honestly impressed
You're welcome.
 

lewj24

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My Life And Work is one of my favorite books, I even have a quote from it tattooed on my leg.
If you don't mind me asking what is the quote? I'm curious. There are a ton of life-changing quotes in that book.

One of his quotes applies to this thread. He was talking about what young people should do with their money and he says, "They ought to invest in themselves to increase creative value... You are not 'saving' when you prevent yourself from becoming more productive."
 

Johnny boy

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That's real but I cannot take you seriously with that thottish bathroom selfie :D

I think I nail the "douche" look pretty well lol.

But in all honesty bro you should focus more of your energy in asking the experienced and knowledgeable members on here for advice instead of talking shit. It would just be a better strategy long term, especially since you're unemployed and 300k in the hole. Maybe we could've been friends. Maybe I could've included you in the 2nd company I just started with two other friends of mine. Maybe I could've introduced you to one of the other business owners I know who would be able to help your situation. Not that I'm all that special, but there's a whole lotta people on here who are BIG players. Maybe you should offer some value and build relationships with other entrepreneurs on this site. But instead I think you're just dumb. Kind of an unsolicited rant but that's just my .02

Screenshot (24).png
 

Raoul Duke

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This thread has everything.

- Actual good advice
- Pedantry
- Arguments over pedantry
- Politics somehow (??? the f*ck)
- Memes
- Actual idiotic "advice"
- MJ himself calling out the idiocy
- Fly by night OP

I'm honestly impressed

It is missing only one thing.

The Well Defined Man.

;)
 

Knowledgefactry

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I think anyone investing anything less than 500k in the market needs to slap themselves in the face and use that money to grow a business.
Even if you’re trying to find a place to put taxes from independent contract work that grows it instead of letting it sit in a savings account? Maybe investing that kind of stuff is too lucky but with the right moves it grows plenty in the next year before they’re due and pocket the profit.

Appreciate the straightforward talk though, someone has to say it
 

Knowledgefactry

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You're in debt.

Pay off your damn debt first.

That's what I'm doing and I'm twice as old as you and have about 10x more debt than you.

Investing is only for those who are debt free.

From what I've been seeing, it goes like this:

Raise income ---> Pay off debt ----> Invest

Do this while consistently raising your income.
It was more of a short term question being asked, as where I’m from doesn’t collect interest on current loans until 6 months post graduation. In 6 months, will probably have most of not all debt paid off with side hustle work. So at that point does it make sense to let cash sit in the bank when we’re (U.S.) just pumped more money into the money supply than ever before in history. Inflation scares me even though it’s irrational because I need to focus on the short term and not fret.
Thanks for the warning, acknowledged and always appreciate wisdom. None of that exists around my campus lol
 

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