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. Thatâs why we often hear people say so many crazy things when weâre growing up likeâŚ
â Debt is bad
â Credit cards are bad
â Being an employee is secure
â Put all of your money in mutual funds
A true capitalist doesnât have a job because other people and other peopleâs 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 â theyâre giving me millions of dollars. Iâm borrowing as much as I can to get richer.
On the financially uneducated side, unfortunately, debt and taxes make people poor.
It isnât 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.
1ď¸âŁ 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 âgreatâ job.
When Bezos thought about it, he came up with the regret minimization framework. He asked himself, âWhen Iâm 80, will I regret not doing this?â
When he answered yes to that question, he quit his job and started his business.
2ď¸âŁ 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.
3ď¸âŁ Think Big
People who love books often dream about opening one bookstore.
Thatâs just a recipe to be in the S quadrant, a place where youâve 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.
4ď¸âŁ Failure
Most people are afraid of failure; thatâs why they remain employees.
But as Bezos has said, âIf you double the number of experiments you do per year youâre going to double your inventiveness.â
And with experiments comes failure.
Thereâs a reason why you donât see anyone walking around with an Amazon Fire Phone.
5ď¸âŁ Spend, Spend, Spend
Savers are losers.
If you look at what Jeff Bezos has done with Amazon, itâs amazing if you think about how much money heâs had to spend to do it.
But not only that, donât 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 youâre 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 doesnât take you much time - about 30 minutes per dayâŚ
â You donât need a product or service - you can use other peopleâs productsâŚ
â You donât have to sell anything - others do thatâŚ
â You donât need a website, a blog, a podcast, or a YouTube channel - you just need a 1-page websiteâŚ
â You just send simple emails with links to other peopleâs products - for which people are willing to pay you up to 75% of the money they make because of your emailsâŚ
If this sounds as interesting to you as it did to me, then I suggest you grab your free copy of Anik Singalâs 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 youâll also get immediate access to Anikâs 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