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INTRO If I was your son, what advice or direction would you give me?

Kevin88660

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I think you have to see what are the paths to wealth and what games you want to play.

1) High Income earners with discipline to do investment. Doctors, lawyers, investment banks and sales people too.

2) Salespeople with the goal of becoming intrapreneur within an organization. If you can train or recruit sales people, it will out you at one level above just an above average sales person. You will play a bigger game.

3) Running a business.

a) No entry barrier business which focus on riding the next trend within a short period of time. Early 2000s a lot of people flip on ebays for a profit. A few years ago it was dropshipping. Basically a new trend gives a super high profit to execute or learn to do something not difficult on a new platform. As people start to leant about it the profit starts to decline and eventually it is not worth the time.

I am in Singapore. A few years back then the hottest things was selling durians to China. People made millions within years. What skills do you need it? Nothing much. Basically a billion population starts to find an exotic fruit tasteful. Within a big trend even pigs can fly. Now it is not possible to make that kind of money. It is getting very competitive and people are investing in plantations in Thailand to grow premium durians as a form of entry barrier.

If you are someone who can notice a trend at its initial stage and learn things fast and execute fast, this could be a way to make the first pot of gold quickly.

b) Build problem solving sustainable business that has entry barrier and delivers cash profit now and you are not reliant on VC. Basically the MJ way.

C) Play the IPO game. Form a team with experienced business people. Research on a good business idea that has a need. Get VC backing to burn cash to acquire customer. Grow and grow. Revenue is king. Customer acquisition is king. Focus on getting it listed. The business does not become successful when it turns a profit in the future. The business is a success when it gets listed and valued at billions. But to play this game you need a lot of experience, connection and a strong reputation. Basically these founders usually had track records of running profitable none listed business like MJ did.
 

Ing

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Get yourself a dirtbike and learn and go riding.
The rest of time go on with Reading and sharping towards the mindset you want to have!
And never forget your froends you have now before success!
 

Tourmaline

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Find yourself...and go do business.

Sales for money. Bartending for 2nd job if really desired.
 

Andy Bell

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I'm 30 so I would of had you at 7, I was an active toddler.

But in all seriousness. Since im more entrepreneurial I would read as much as I could on the industry im already invested in. In your case commercial realestate and find a niche in the industry where I could add value and build something.

This could be really anything. I am more technology focused so I would look for something I can build to fill a hole in the market like a software as a service to create interactive floor plans to show what entry areas have most traffic (this is probably already built but its just an example, maybe you can add face recognition to give stores demographics of what types of people frequent what areas.

Hell last year I went to Tel Aviv and was in an entrepreneur conference where the guy speaking had become a multimillionaire developing tech that you attached to plugs in commercial buildings and factories and was a software that showed all electricity use with interactive charts and where you could optimize and what was sucking the most juice...couldent have imagined this product but he did since he was in the industry.

Son...find somewhere to add value and build something, oh and use condom. :p
 

icemat

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There are many paths to life, and many ways to live it. I don't know you personally or what your personality is, but I'll use statistics and assume you are within 2 standard deviations of the average person in terms of motivation, intelligence, ambition, etc. but you can correct me if I'm wrong.
You can make your own path, but be aware this may not make you the happiest.

First off, be wary of the cognitive biases such as the Dunning-Kruger effect or the Optimism bias and the "I'm special" bias. Note that I will use a stereotype bias in order to make it easier for me to give you advice, as I don't know you personally.

What makes an average human being happy?

Here are some 8 Life Forces that are inherent in each and any one of us:
  1. Survival, enjoyment of life, life extension
  2. Enjoyment of food and beverages
  3. Freedom from fear, pain, and danger
  4. Sexual companionship
  5. Comfortable living conditions
  6. To be superior, winning, keeping up with the Joneses
  7. Care and protection of loved ones
  8. Social approval
Some people will favor one of these life forces over the other. And they also depend on the current situation of your environment. Most people in the 1st world have most of these life forces taken care of.

The most important thing is to establish your motivation. What really makes you happy and why? Without having a motivation there is no point in making yourself unhappy over not achieving a goal you have no motivation for. (e.g. I want to get rich because I want social approval but I'm unhappy because I'm not rich yet. It may be easier on yourself to just to get a job that society approves first.) Now, knowing that you are on this forum I can assume one of your motivations or goals is to become rich, and to live a life of financial freedom. That is why I'm here. But I only got his motivation after I started a family. If I did not have something to motivate me, I would not pursue this goal.

Anyways, there are many paths to wealth but here are five paths (there are countless more):
1. "How to Get Rich" by Felix Dennis method. This path requires a special personality (be willing to sacrifice any and all personal relationships on your path to get rich). Not my particular style but it may work for some.
2. "Seek wealth, not money or status" by Naval. This is more spiritual and may not get you rich quickly per say, but you may be more satisfied with your life pursuing this method. To be truly wealthy depends on your definition of wealth.
3. Stay monogamous to one cash flowing business, and stay in it for the long term. This can be considered a somewhat "medium-fast" lane approach, but starting a small business and slowly growing that business for 10-20 years can make you wealthy in the long term.
4. Tim Ferris life/location arbitrage method. Basically, earn a 1st world wage owning an online business while living in a 3rd world country so that your money goes farther. Some people I've observed will get tired of this life and switch to another method. Others can stay in this life forever.
5. Sell shovels to growing trends methods. Find an industry that is growing and people are making lots of money in (currently that may be Amazon FBA/shopify/cryptocurrency) and sell a product or service to those people in that industry. The key is to identify what trends are going on and brainstorm ways to help these people, choose it and execute.

The theme common to all of this is having equity in something - basically, having ownership. If you don't own it, you will never have time on your side, and will spend the rest of your life renting/working to survive. "If you don't find a way to make money while you sleep, you will work until you die."

So in summary:
1. Understand statistics
2. Understand our cognitive biases
3. Understand the Life Force 8
4. Establish your Why
5. Understand 5 different paths to wealth (or create your own)
6. Have equity or ownership in something

And throwing this one in:
7. Never stop learning and have a growth mindset
 

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OP
OP
B

brady

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Thanks for the responses everyone. At this stage I am in the middle of 2nd round interviews for some corporate sale executive positions where I think I will be able to continue developing my skillset the most.
 

Entre Eyes

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What ever you do it all goes down better with your own DATABASE.

Do what you love, Buy and Sell or Flip, Create or Affiliate but when you have your own lists of Subscribers you can literally press a button in the morning and start seeing Payment Notifications same day.

As they say the Money is in the Relationship you have in a list.

Yes there are Churn and Burners out there who just slam the H out of their lists and just keep a flow of new subscribes as others drop out but I would prefer treat them like the Gold that they are.

The Best list to have?

A list of Buyers.

You do not want a list of Freebie Seekers.

Yes it is smart to have a Freebie Opt in but right after that hit them with a irresistible offer. High quality that will not break the bank that will truly help them reach their goals.

This works for tangible and digital.

Also when you get a chance head over to Jay Abraham's website.

Find his free resources. I love his perspectives on same level as MJ.

It is same as here like a freaking Free University.

The internet is a blessing when you want to find out why you are doing bad habits. Use it to find out how to hack your brain for success.

There are many Broke Geniuses out there. That has a double meaning.
Sometimes they are brilliant but self sabotage...drinking, make money with bad money management, procrastination etc.

It is up to each of us to get in there in that computer between our ears and do a tune up time to time.

I think you will do well. You asked a good question in a great location. :)

On a final note, get in the gym, wealth without health is waste of time.

And clean up your room...haha.
 

Scot

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Don’t pet a burning dog.

Don’t play leap frog with a unicorn.
 

BB13

Contributor
Jul 12, 2019
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There are many paths to life, and many ways to live it. I don't know you personally or what your personality is, but I'll use statistics and assume you are within 2 standard deviations of the average person in terms of motivation, intelligence, ambition, etc. but you can correct me if I'm wrong.
You can make your own path, but be aware this may not make you the happiest.

First off, be wary of the cognitive biases such as the Dunning-Kruger effect or the Optimism bias and the "I'm special" bias. Note that I will use a stereotype bias in order to make it easier for me to give you advice, as I don't know you personally.

What makes an average human being happy?

Here are some 8 Life Forces that are inherent in each and any one of us:
  1. Survival, enjoyment of life, life extension
  2. Enjoyment of food and beverages
  3. Freedom from fear, pain, and danger
  4. Sexual companionship
  5. Comfortable living conditions
  6. To be superior, winning, keeping up with the Joneses
  7. Care and protection of loved ones
  8. Social approval
Some people will favor one of these life forces over the other. And they also depend on the current situation of your environment. Most people in the 1st world have most of these life forces taken care of.

The most important thing is to establish your motivation. What really makes you happy and why? Without having a motivation there is no point in making yourself unhappy over not achieving a goal you have no motivation for. (e.g. I want to get rich because I want social approval but I'm unhappy because I'm not rich yet. It may be easier on yourself to just to get a job that society approves first.) Now, knowing that you are on this forum I can assume one of your motivations or goals is to become rich, and to live a life of financial freedom. That is why I'm here. But I only got his motivation after I started a family. If I did not have something to motivate me, I would not pursue this goal.

Anyways, there are many paths to wealth but here are five paths (there are countless more):
1. "How to Get Rich" by Felix Dennis method. This path requires a special personality (be willing to sacrifice any and all personal relationships on your path to get rich). Not my particular style but it may work for some.
2. "Seek wealth, not money or status" by Naval. This is more spiritual and may not get you rich quickly per say, but you may be more satisfied with your life pursuing this method. To be truly wealthy depends on your definition of wealth.
3. Stay monogamous to one cash flowing business, and stay in it for the long term. This can be considered a somewhat "medium-fast" lane approach, but starting a small business and slowly growing that business for 10-20 years can make you wealthy in the long term.
4. Tim Ferris life/location arbitrage method. Basically, earn a 1st world wage owning an online business while living in a 3rd world country so that your money goes farther. Some people I've observed will get tired of this life and switch to another method. Others can stay in this life forever.
5. Sell shovels to growing trends methods. Find an industry that is growing and people are making lots of money in (currently that may be Amazon FBA/shopify/cryptocurrency) and sell a product or service to those people in that industry. The key is to identify what trends are going on and brainstorm ways to help these people, choose it and execute.

The theme common to all of this is having equity in something - basically, having ownership. If you don't own it, you will never have time on your side, and will spend the rest of your life renting/working to survive. "If you don't find a way to make money while you sleep, you will work until you die."

So in summary:
1. Understand statistics
2. Understand our cognitive biases
3. Understand the Life Force 8
4. Establish your Why
5. Understand 5 different paths to wealth (or create your own)
6. Have equity or ownership in something

And throwing this one in:
7. Never stop learning and have a growth mindset
This is a very mature and considered advice, if I may say so.

Are you able to recommend a good resource for studying statistics please (above penultimate paragraph, point 1). Just so happens I am reading a textbook on Economics for Business. As I read this book, I come across a huge number of graphs and analytical data which I simply don't understand. I need to know how to read these effectively.

Can you be so kind and point in the right direction eg. a book/website/system for learning to read statistics/trends etc?

Thanks v. much in advance.
BB13

ps. apologies to the thread owner for going off the subject here.
 
Last edited:

ChrisV

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Are you able to recommend a good resource for studying statistics please (above penultimate paragraph, point 1). Just so happens I am reading a textbook on Economics for Business. As I read this book, I come across a huge number of graphs and analytical data which I simply don't understand. I need to know how to read these effectively.
I'm not the poster, but I do do a lot of statistics.

PBS has a YouTube channel where they post entire college courses online, and they're fun and interesting:

View: https://www.youtube.com/watch?v=sxQaBpKfDRk


Full course: Statistics - YouTube

Also this book is very good: Amazon.com: Naked Statistics, Stripping the dread from Data: Charles Wheelan, Jonathan Davis: Books

I agree 1000000% with his sentiments. Understanding statistics was one of the smartest things I've ever done.

How most people think: "my uncle tried this medication and said it works! therefore it will work!"

How Statisticians and Scientists think: "let's look at the tests of this medication on 1000 people, compare it to placebo, them make a determination"

That's just one thing. Statistics allows youth get the 'big picture' of life.
 

Digamma

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The most important things I could teach my son would be the things that go against mainstream advice.

Some things that come to mind:

Happiness is the target of losers who want to coast through life.

Impatience is a virtue. So is arrogance.

It's better to be clever than smart.

Social "sciences" are unscientific nonsense. The opinions of academics are largely worthless, and their knowledge always lags behind those in the trenches.

When you need something important done, micromanage the shit out of it. Micromanaging has a bad reputation because most are simply too dumb to do it well.

Reality is malleable and you can bend it to your will.

Weak men cannot be good men. And they can never be trusted.

Never put anything in writing that can be used against you in court or socially. Assume everything will become public at the worst possible time.

Dignity, pride and similar concepts are opiate for the masses. So are morality and ethics.

Threats are a sign of weakness. People who want to hurt you don't want you to see them coming.
 

BB13

Contributor
Jul 12, 2019
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I'm not the poster, but I do do a lot of statistics.

PBS has a YouTube channel where they post entire college courses online, and they're fun and interesting:

View: https://www.youtube.com/watch?v=sxQaBpKfDRk


Full course: Statistics - YouTube

Also this book is very good: Amazon.com: Naked Statistics, Stripping the dread from Data: Charles Wheelan, Jonathan Davis: Books

I agree 1000000% with his sentiments. Understanding statistics was one of the smartest things I've ever done.

How most people think: "my uncle tried this medication and said it works! therefore it will work!"

How Statisticians and Scientists think: "let's look at the tests of this medication on 1000 people, compare it to placebo, them make a determination"

That's just one thing. Statistics allows youth get the 'big picture' of life.
This is fantastic and very useful, thank you very much!
 

BB13

Contributor
Jul 12, 2019
25
53
17
Thank you in advance.
Just edited my previous post - perhaps I focused too much on the principles of general life philosophy and not on what you really asked. If I am honest I dont know exactly what advice you need - if you were my son, you may have different questions on different days on different topics, so this is an ambiguous question you posed. Plus, as the above poster said, I dont know you so it is hard to give advice.

One overall and general observation I can share with you without reservation is learn as much as your mental faculties allow you and never stop growing. Then apply that knowledge, measure and validate it.

Best of luck.
 
Last edited:

Runum

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Try new things. Don't be afraid to make mistakes. Make mistakes that don't physically hurt anyone...impaired driving, DWI, etc. Learn from and don't repeat the same mistakes.

Don't be afraid of hard work.
 

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BlakeIC

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Just edited my previous post - perhaps I focused too much on the principles of general life philosophy and not on what you really asked. If I am honest I dont know exactly what advice you need - if you were my son, you may have different questions on different days on different topics, so this is an ambiguous question you posed. Plus, as the above poster said, I dont know you so it is hard to give advice.

One overall and general observation I can share with you without reservation is learn as much as your mental faculties allow you and never stop growing. Then apply that knowledge, measure and validate it.

Best of luck.
awwww you deleted it? I was loving it - refreshed the page quickly and poof!
 

guy93777

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The most important things I could teach my son would be the things that go against mainstream advice.

Some things that come to mind:

Happiness is the target of losers who want to coast through life.

Impatience is a virtue. So is arrogance.

It's better to be clever than smart.

Social "sciences" are unscientific nonsense. The opinions of academics are largely worthless, and their knowledge always lags behind those in the trenches.

When you need something important done, micromanage the shit out of it. Micromanaging has a bad reputation because most are simply too dumb to do it well.

Reality is malleable and you can bend it to your will.

Weak men cannot be good men. And they can never be trusted.

Never put anything in writing that can be used against you in court or socially. Assume everything will become public at the worst possible time.

Dignity, pride and similar concepts are opiate for the masses. So are morality and ethics.

Threats are a sign of weakness. People who want to hurt you don't want you to see them coming.
i didn't want to post again on this forum but you grabbed my attention

at last, someone who can think outside the box and the matrix.

1) 95 % of people look at the wrong thing in life : the circus

" think like everyone, don't question anything . watch TV "

2) here on this forum we should focus on the big picture : the masters of the circus

" do your own thinking according to your original mind . don't watch TV, read the right books "


society :


27999
 

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