346: Best of the Week: My Daily Motivational Trick, The Future-Value Formula, & Why People Hate
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To determine the financial value potential of something right now, there is a simple formula: Future value = present value of future revenue. This is the formula that you can use when examining business ideas and opportunities, when looking into investments, and all other areas of financial potential.
Today, I am talking about that formula, as well as why apartments are one of the lower risk real estate opportunities, the 2 ways you make money, how to monetize a brand beyond normal operations, why life is like poker, 3 ways to start a side hustle, why haters hate, why mindset is the main thing holding people back, and what the butterfly effect means for the importance of the little decisions you make everyday.
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Points to Keep In Mind
- In the long term, something is worth: Present value of future revenue
- Ask yourself: How much would you pay today to have a future revenue?
- Apartments allow you to diversify your future revenue
- 2 ways you make money in anything:
- Capital appreciation
- If you build a brand that is recognizable and has good connotations with it, you can make money through licensing deals without actually running the business
- The true definition of “luck” in this modern age is learning early
- Think about life like poker: You don’t have to win every hand, just don’t go all in when you have a bad hand
- 3 ways to start your side hustle:
- Look at the skills you already have instead of trying to get new skills
- Don’t just have an idea. Go from idea to offer
- Launch before you think you’re ready
- A lot of ideas cannot be validated until you actually do them
- At the end of the day, we’re all going to the grave at around the same pace, but some people go their with a more happy life than others
- Haters are usually just projecting their own insecurities on others
- Too many people want to remove all insecurity from life, but that is simply not possible
- Life goes through the process of seasons, so expect the changes
- You have to be 100% convinced and sold on your own product to be good at sales
- Mindset is the main thing holding most people back
- Just as a butterfly flapping its wings can start a hurricane, very small bad decisions in your life can lead to terrible consequences down the road
- Likewise, small intelligent decisions can help you in incredible ways down the road
- You must structure fun and entertainment in your life to stay motivated in the long run