you don’t need to wait no one’s coming
to rescue you it’s not a Disney movie
nobody’s coming it’s only you think a
lot of people they will go from their
full-time job quit
they have very meager savings and
suddenly they’re like this has to work
so here’s a simple example of how you
can control your confidence in less than
20 seconds need motivation which it took
here’s your meets eighty and here’s my
take on his top ten rules a success
enjoy okay let’s kick it up with rule
number one take baby steps it’s
something I encourage a lot of
entrepreneurs to think about I think a
lot of people they will go from their
full-time job quit
they have very meager savings and
suddenly they’re like this has to work
well now you put yourself in a bad
position so either start it while you
have a full-time job do it on the side
and don’t tell me you don’t have time
you have time and the second thing is
build up your savings your savings are
going to give you the runway or the
flexibility to try different things a
business is not easy especially going
from zero to one it’s pretty hard and if
you’re under a time crunch where you
have like two months of cash left
you’re gonna start making bad decisions
rule number two seek ambitious people
the average of the five people you’re
surrounded with that is a very powerful
idea and instead of closing the door on
the people you hang out with why not
open the door to some new people why not
find people who go to your conference
for example or who are on my site people
who are ambitious who have gone through
these programs and say you know what can
we set up a weekly check-in it could be
five minutes it could be over text but
let’s set up this check-in and just say
what you want to do last week did you
execute why or why not every week 9:00
a.m. Monday let’s do it that’s how you
suddenly meet a group of people who are
unapologetically ambitious and that will
change everything for you because
instead of having to drag people to
these self-development conferences and
they say that’s weird I don’t want to do
it the people you actively seek out
gonna be like yeah I’m in let’s do it
let’s do it yeah that’s powerful yeah so
finding new communities that you can
have these conversations with yeah and
don’t cut everyone out of your life but
just start having those conversations
with people that are more aggressive
yeah like do you know what I told people
to do on my Instagram account so I told
people it’s important to find other
people who support you a lot of you are
waiting around for some like millionaire
to fall off from the sky and invite you
to their private group it’s never gonna
happen
never instead why don’t you start it
yourself and I said go into my comments
write who you’re looking for and then
invite someone to join you like
you don’t need to wait no one’s coming
to rescue you it’s not a Disney movie
nobody’s coming it’s only you so take
control and go find someone and then
build that together rule number three
create the best product so how do you go
from a group of people who complain
about a four dollar and ninety five cent
a book to a group of people who are
delighted to pay tens and tens of
thousands of dollars how do you create a
community of thirty thousand loyal happy
customers
these are consumers these are people
like you and me they’re in this room and
they are spending thousands of dollars
once and then doing it again and again
and in fact when they buy their top
criteria not even their top five
criteria is about price we do a ton of
research we collect hundreds and
hundreds of thousands of data points
this is one we ask people why did you
not join our course look at the comments
it’s too expensive another pivotal
moment here the world will try to drag
you down in price Silicon Valley will
try to drag you down in price and say
nobody would pay for that people don’t
pay for insert blank topic here and if
they do they’ll only pay five bucks a
month well we don’t believe that we
actually believe that there’s there’s
room in the market to be the best and we
mean build the best products select the
best customers and service them in the
best way we have no intention of playing
in the $5 $50 $100 market I’d rather
give away our content then play in that
market so how do we do this the the key
inside I learned was don’t just listen
to the first response because that’s
politically correct that’s what they’ll
tell you but when you build something
that is so good it solves such a big
burning pain in their life then price is
a mere triviality and if you think about
it we all this we intuitively know this
we all have something in our life that
we would pay anything for maybe it’s a
business class ticket for your mom to
come visit you so she can stretch out
her legs right maybe it’s a beautiful
leather jacket maybe it’s a bag of chips
you just love these chips whatever we
all have something we would pay anything
for and the same can be true for your
products as well rule number four
developed
confident there are some people around
us who just seem like they are born with
natural confidence you know what I’m
talking about
they’re super smooth super confident
they always know the right thing to say
think about President Obama it just
seems like a smooth guy think of one of
his famous yes we can rally speeches not
being political here just talking about
his oratorical skills what do you notice
about how he speaks he’s powerful he’s
decisive he speaks slowly and almost
never stumbles or stutters his points
are clear and they’re to the point he’s
the epitome of confidence when it comes
to a speaker on stage so when you look
at somebody like him it’s very easy to
assume that he has some innate ability
that he was born with either you have it
or you don’t but the truth is confidence
is a skill and President Obama just like
all confident people built that skill he
practiced it over a lifetime so here’s a
simple example of how you can control
your confidence in less than twenty
seconds take something you routinely say
like what you did this weekend and
change the way you say I want you to
channel your inner super confident
person it could be Barack Obama
it could be Susan Sarandon it could be
whoever you want don’t focus on who it
is don’t even worry about what you say
instead focus on changing how you say it
sit up straight speak slowly and imagine
what you’re saying is incredibly
important because the people listening
want to hear it
let me show you an example a little
before and after yeah I can’t even
remember I mean I think it was pretty
good it was actually pretty crazy but I
just went to a movie and saw some
now let’s compare the after we had a
great weekend I was with the kids on
Saturday then Michelle and I caught a
Broadway show and finished the night at
that new sake bar downtown now what you
notice notice first that I’m
intentionally using someone else to role
play this really lets us get into play
acting without worrying about our own
life our own Saturday ooh maybe I don’t
have as cool the life is going to a sock
a bar don’t worry about that all we’re
doing here is working on our delivery
remember nobody sees inside of you they
don’t see how confident you are how much
work you spent practicing all they see
is the way you answer a question or the
way you sit when you’re talking to them
so when it comes to confidence
confidence can actually come from the
outside in not just from the inside out
which is what everybody tells you so
instead of waiting for it to just
magically appear where’s my confidence
where is it we’re actually changing our
behavior something everyone can do and
we’re letting the confidence follow the
external influences the internal and
once you master this concept you can
apply it to a lot more than just how you
speak and how you sit rule number five
applied the d2c principle when anyone
says you know I bought a business-class
ticket
notice the almost instinctive reaction
so uh you know what a show-off and all
these other things that come with it
and I want to challenge people I have
this principle I call the d2c principle
and it instead of being derisive and
saying oh so stupid
that’s ridiculous I would never do that
I actually want to encourage everyone to
be si curious why would a guy like Luis
intentionally spend money on a business
class ticket and he earns good money he
has a lot of options he must know
something that I don’t and I want to
understand why so from D to C and if you
start to take that perspective
especially on high earners and how they
spend their money all of a sudden you
stop saying that’s ridiculous or if I
had a million dollars I would never
do that instead you say why did that
person spend on yeah and I want to know
maybe I don’t agree maybe you know you
become a multi-millionaire and you don’t
want to spend on business class you just
don’t care but it’s it’s interesting
that you do it and I’d like to know me
yeah
rule number six at value first six
that’s six Chinese if you go to this
site I will teach you to be rich you can
see the names of the products but you
can’t buy why because I don’t want you
to go and just look at the course and
just say oh I like this or not do I feel
like it’s not a pack of gum these are
works of art that we spent years and
millions of dollars building and testing
and so what I want to do instead of just
trying to get money quickly I want to
build a relationship so the only thing
you can do you can read twelve years of
free material you can look at our
thousands of YouTube videos but if you
want to know more then I want to send
you free material through our email list
and so you can see there’s lots of
places to sign up to get tons of bonus
material now if you do that
suddenly you and I have a relationship
and I can send you emails and on and on
so we have you know many hundreds of
thousands of people who are on our email
list and they get emails from us four or
five times a week isn’t that a lot yeah
well a lot of people I’ve heard that I
email more than people’s girlfriends
boyfriends mom’s dad I said I love it
because our emails break all the rules
they’re really long people say oh nobody
has time make it quick wrong if you have
something interesting to write people
will read 20 pages long emails and we
don’t allow people to buy it until the
time is right when the time is right we
open up our course you can join if you
choose if not that’s totally fine
rule number seven learn to handle knows
who here has felt some sort of rejection
in the last thirty days with your
business come on don’t me
everybody does and you know the crazy
part is they won’t tell you the truth
they’ll never say you spent the last
four years of your life building a photo
sharing app and the truth is I don’t
really care if my photos aren’t
organized they’ll never tell you that
just be like
I think the price is a little high
remember that five dollar ebook I
created I had people who were like
ramita loved the e-book I don’t trust
PayPal but I do trust the US Postal
Service so if you could set up a Pio box
in fact I’ll buy two copies and like
naive
ramita in 2006 I was like okay so I
actually set up a Pio box and I was like
waiting like where’s my bushel full of
checks and over the course of an entire
year I received one check for $4.95 both
make my mistakes the thing is they’ll
never tell you why they’ll never tell
you why so I want to show you how we
handle noes
here’s a script I’d like to show it to
you this is from a student of ours who
applied for a program he was accepted
and then he didn’t join let me read it
to you hi Karthik I noticed you were
interested in testing blah blah blah and
you filled out the application but you
didn’t sign up how come the course is
closed now but I just wanted to reach
out and find out what’s up so this is
written very intentionally first people
don’t like to be told hey you said you
were gonna do something and then you
didn’t do it they don’t like it but we
still want to find the answer to our
question so we did a couple things in
this email we’ve tested this when we
kept it really short
– it’s super conversational notice the
phrases how come or let me know what’s
up sometimes we say out of curiosity
we’re not saying you know we’re not
being super corporate about it and then
third we have to be really clear we’re
not trying to sell in fact the course is
now closed we we cannot collect your
money we don’t want it we get massive
responses so if you have had people who
are on your email list or in your
customer base and they have not bought
something from you you’re sitting on a
goldmine the type of answers we get from
this are amazing they’ll say things like
well I’d love to join but you know
course looks awesome but I’m in
Australia and I can’t fly to New York
we’re like dude it’s an online course
but that’s not their fault it’s our
fault for not communicating that or we
get people who say this course looks
amazing but it’s really expensive and I
can’t convince my husband or wife to buy
into it that’s actually really valuable
so now we can add that to our FAQ so we
collect these data points at every stage
of the customer experience before the
product in the product if they refund
etc etc I can’t tell you enough you have
to listen to the customer rule number
eight getting control of your life why
is it hard for us to talk about money
why is it scary and why don’t we talk
about it enough with our friends or
family why is that there’s one great
study showing people would rather talk
about their sex lives than their amount
of credit card debt I think that’s
totally true it’s three hundred percent
and think about what money means it
means that you were successful in this
culture and I am here you know know
people know me as the I will teach you
to be rich guy and I have always said
money is an important but small part of
living a rich life just because you make
more or less doesn’t mean we’re better
friends not at all has nothing to do
with that but it is important for people
to be in control of their money whether
they’re making fifteen dollars an hour
or fifteen thousand dollars an hour and
there are people I know who make that so
that just simply shows are you in
control of your life at whatever level
you are it’s embarrassing for people mmm
they’re never taught this and then
suddenly they graduate and they’re
supposed to know what tax withholding is
and what if a 529 and 401k and all this
crazy stuff is nobody taught it to him
so my goal here the reason I’m talking
about this is for people to feel more
confident about their money for them to
take control and for them to stop being
afraid and listening to random people
giving them advice rule number nine find
your mentors who are your money mentors
Mentors you know I’ve studied most of
the Great’s and I read their stuff I
think it’s absolutely fascinating to
know from different types of investors
different types of personal finance
personalities but the people that
influenced me most come from the world
of psychology they come from different
world so we have a we have a
amazing professor BJ Fogg one of my
mentors Brian Wansink at Cornell who
wrote an amazing book mindless eating
which is so close to money it’s just
about food all these guys eldini of
course who teach us about the true
theoretical psychology of why we do what
we do those are the people who actually
influenced me the most
ruah number 10 buy back your time I
actually want to make the case against
extreme frugality everybody everywhere
you turn you hear people telling you
what you can’t do with your money no
lattes no jeans no vacations save it up
in a little treasure box and then one
day when you can’t even see anymore then
you’ll be able to take the greatest
vacations of your life who wants to live
like that
I would rather you set your automatic
savings goals you set your automatic
investing goals and then you take the
rest of your money you’ll guilt free
money and you spend it extravagantly on
the things you love one way very simple
when you go to the grocery store maybe
you buy a bunch of pre-cut vegetables
now when I was growing up my mom thought
this was a huge waste of money I now
think it’s a great use of money because
it buys back my time another thing you
can do a lot of people live in New York
hire a dog walker you have a dog you may
not have time to walk that dog in the
middle today boom dog walker done and
then as you become even more successful
or more strapped for time there are even
more ways that you may want to spend
your money you may want to hire an
assistant to help plan your travel you
may want to spend for a business class
flight because when you arrive you’re
getting straight to work these are all
different ways that you can be thinking
of buying back your time as a general
rule of thumb I want you to be saving
five to ten percent of your take-home
income and I want you to be investing
ten percent of your take-home income if
you do that you’re on a good track and
that means that the rest of your money
after your fixed expenses like your rent
or your mortgage is guilt-free money now
I’ve got a special bonus rule from Ramin
on how to start small that I really
think you’re gonna enjoy but before that
it’s time for the three point landing
questions let’s go from just watching a
video to taking action here we go
question number one where can you add
value first to your clients
number two where
you need to get in control of your life
and number three how can you buy back
your time I started the blog while I was
in college I started it in 2004 because
and it wasn’t some bursts of genius it
was that I was trying to teach my
friends about personal finance and I
would sit there and listen at the dining
halls and they’d be complaining about my
overdraft fee or something and I would
say hey why don’t you come take my free
one-hour class and they said that sounds
awesome
and then they would never show up yeah
so what I learned later is that people
don’t really want to go to events about
money makes them feel bad about
themselves
you also don’t really want to learn from
your friends because your friend is your
friend you go out drinking with yeah
it’s not your friend you listen to about
asset allocation right and also I had a
lot to learn myself I was talking about
banking and budgeting which college kids
don’t care about so that didn’t work I
did that for a year and a half it’s very
frustrating I would show up nobody would
come but I just felt like I had
something that the world needed to hear
and I just said let me start a blog
maybe I’ll start it and these lazy
college kids will read in from their
dorm room and that turned out to be
exactly right
people liked to read someone like them
instead of lecturing them I would just
talk and I would talk to them about all
the things that people like you and I
care about we got that cheap friend who
never puts in a tent when we go out to
eat like all these things that are just
day-to-day real life and over time that
blog grew and grew and that eventually
turned into a business so when was the
tipping point where you decided okay I’m
gonna focus on the blog full-time well
that was something I thought about a lot
because at a certain point that blog was
kind of starting to grow and there was
you know like a hundred thousand monthly
readers and then 150 and I started
getting people emailing me and it
started to get into this thing that I
realized was a little bigger than I had
ever imagined but I told myself I’m
working at pbwiki
I’m committed and so the the mental
exercise that I ran with myself was I’m
not
gonna think about doing this full time
until my blog generates more income than
my full-time job for four months in a
row Wow and it like it would happen one
month and then it would stop so I had to
reset so it kind of just allowed me to
put that thing out of my mind instead of
constantly agonizing over it and finally
it started to actually happen
consistently and consistently that
didn’t mean I just jumped ship I then I
could start to actually think about it
because I knew that the financial
if you want more marketing top tens
check out the one I did on Joe polish
the link is right there next to me I
think you’ll enjoy it continue to
believe and I’ll see you there
there’s other people making money in the
business you’re in and you’re not
there’s nothing wrong with the business
you’re in there’s something wrong with
you however I’m really big on making money
to rescue you it’s not a Disney movie
nobody’s coming it’s only you think a
lot of people they will go from their
full-time job quit
they have very meager savings and
suddenly they’re like this has to work
so here’s a simple example of how you
can control your confidence in less than
20 seconds need motivation which it took
here’s your meets eighty and here’s my
take on his top ten rules a success
enjoy okay let’s kick it up with rule
number one take baby steps it’s
something I encourage a lot of
entrepreneurs to think about I think a
lot of people they will go from their
full-time job quit
they have very meager savings and
suddenly they’re like this has to work
well now you put yourself in a bad
position so either start it while you
have a full-time job do it on the side
and don’t tell me you don’t have time
you have time and the second thing is
build up your savings your savings are
going to give you the runway or the
flexibility to try different things a
business is not easy especially going
from zero to one it’s pretty hard and if
you’re under a time crunch where you
have like two months of cash left
you’re gonna start making bad decisions
rule number two seek ambitious people
the average of the five people you’re
surrounded with that is a very powerful
idea and instead of closing the door on
the people you hang out with why not
open the door to some new people why not
find people who go to your conference
for example or who are on my site people
who are ambitious who have gone through
these programs and say you know what can
we set up a weekly check-in it could be
five minutes it could be over text but
let’s set up this check-in and just say
what you want to do last week did you
execute why or why not every week 9:00
a.m. Monday let’s do it that’s how you
suddenly meet a group of people who are
unapologetically ambitious and that will
change everything for you because
instead of having to drag people to
these self-development conferences and
they say that’s weird I don’t want to do
it the people you actively seek out
gonna be like yeah I’m in let’s do it
let’s do it yeah that’s powerful yeah so
finding new communities that you can
have these conversations with yeah and
don’t cut everyone out of your life but
just start having those conversations
with people that are more aggressive
yeah like do you know what I told people
to do on my Instagram account so I told
people it’s important to find other
people who support you a lot of you are
waiting around for some like millionaire
to fall off from the sky and invite you
to their private group it’s never gonna
happen
never instead why don’t you start it
yourself and I said go into my comments
write who you’re looking for and then
invite someone to join you like
you don’t need to wait no one’s coming
to rescue you it’s not a Disney movie
nobody’s coming it’s only you so take
control and go find someone and then
build that together rule number three
create the best product so how do you go
from a group of people who complain
about a four dollar and ninety five cent
a book to a group of people who are
delighted to pay tens and tens of
thousands of dollars how do you create a
community of thirty thousand loyal happy
customers
these are consumers these are people
like you and me they’re in this room and
they are spending thousands of dollars
once and then doing it again and again
and in fact when they buy their top
criteria not even their top five
criteria is about price we do a ton of
research we collect hundreds and
hundreds of thousands of data points
this is one we ask people why did you
not join our course look at the comments
it’s too expensive another pivotal
moment here the world will try to drag
you down in price Silicon Valley will
try to drag you down in price and say
nobody would pay for that people don’t
pay for insert blank topic here and if
they do they’ll only pay five bucks a
month well we don’t believe that we
actually believe that there’s there’s
room in the market to be the best and we
mean build the best products select the
best customers and service them in the
best way we have no intention of playing
in the $5 $50 $100 market I’d rather
give away our content then play in that
market so how do we do this the the key
inside I learned was don’t just listen
to the first response because that’s
politically correct that’s what they’ll
tell you but when you build something
that is so good it solves such a big
burning pain in their life then price is
a mere triviality and if you think about
it we all this we intuitively know this
we all have something in our life that
we would pay anything for maybe it’s a
business class ticket for your mom to
come visit you so she can stretch out
her legs right maybe it’s a beautiful
leather jacket maybe it’s a bag of chips
you just love these chips whatever we
all have something we would pay anything
for and the same can be true for your
products as well rule number four
developed
confident there are some people around
us who just seem like they are born with
natural confidence you know what I’m
talking about
they’re super smooth super confident
they always know the right thing to say
think about President Obama it just
seems like a smooth guy think of one of
his famous yes we can rally speeches not
being political here just talking about
his oratorical skills what do you notice
about how he speaks he’s powerful he’s
decisive he speaks slowly and almost
never stumbles or stutters his points
are clear and they’re to the point he’s
the epitome of confidence when it comes
to a speaker on stage so when you look
at somebody like him it’s very easy to
assume that he has some innate ability
that he was born with either you have it
or you don’t but the truth is confidence
is a skill and President Obama just like
all confident people built that skill he
practiced it over a lifetime so here’s a
simple example of how you can control
your confidence in less than twenty
seconds take something you routinely say
like what you did this weekend and
change the way you say I want you to
channel your inner super confident
person it could be Barack Obama
it could be Susan Sarandon it could be
whoever you want don’t focus on who it
is don’t even worry about what you say
instead focus on changing how you say it
sit up straight speak slowly and imagine
what you’re saying is incredibly
important because the people listening
want to hear it
let me show you an example a little
before and after yeah I can’t even
remember I mean I think it was pretty
good it was actually pretty crazy but I
just went to a movie and saw some
now let’s compare the after we had a
great weekend I was with the kids on
Saturday then Michelle and I caught a
Broadway show and finished the night at
that new sake bar downtown now what you
notice notice first that I’m
intentionally using someone else to role
play this really lets us get into play
acting without worrying about our own
life our own Saturday ooh maybe I don’t
have as cool the life is going to a sock
a bar don’t worry about that all we’re
doing here is working on our delivery
remember nobody sees inside of you they
don’t see how confident you are how much
work you spent practicing all they see
is the way you answer a question or the
way you sit when you’re talking to them
so when it comes to confidence
confidence can actually come from the
outside in not just from the inside out
which is what everybody tells you so
instead of waiting for it to just
magically appear where’s my confidence
where is it we’re actually changing our
behavior something everyone can do and
we’re letting the confidence follow the
external influences the internal and
once you master this concept you can
apply it to a lot more than just how you
speak and how you sit rule number five
applied the d2c principle when anyone
says you know I bought a business-class
ticket
notice the almost instinctive reaction
so uh you know what a show-off and all
these other things that come with it
and I want to challenge people I have
this principle I call the d2c principle
and it instead of being derisive and
saying oh so stupid
that’s ridiculous I would never do that
I actually want to encourage everyone to
be si curious why would a guy like Luis
intentionally spend money on a business
class ticket and he earns good money he
has a lot of options he must know
something that I don’t and I want to
understand why so from D to C and if you
start to take that perspective
especially on high earners and how they
spend their money all of a sudden you
stop saying that’s ridiculous or if I
had a million dollars I would never
do that instead you say why did that
person spend on yeah and I want to know
maybe I don’t agree maybe you know you
become a multi-millionaire and you don’t
want to spend on business class you just
don’t care but it’s it’s interesting
that you do it and I’d like to know me
yeah
rule number six at value first six
that’s six Chinese if you go to this
site I will teach you to be rich you can
see the names of the products but you
can’t buy why because I don’t want you
to go and just look at the course and
just say oh I like this or not do I feel
like it’s not a pack of gum these are
works of art that we spent years and
millions of dollars building and testing
and so what I want to do instead of just
trying to get money quickly I want to
build a relationship so the only thing
you can do you can read twelve years of
free material you can look at our
thousands of YouTube videos but if you
want to know more then I want to send
you free material through our email list
and so you can see there’s lots of
places to sign up to get tons of bonus
material now if you do that
suddenly you and I have a relationship
and I can send you emails and on and on
so we have you know many hundreds of
thousands of people who are on our email
list and they get emails from us four or
five times a week isn’t that a lot yeah
well a lot of people I’ve heard that I
email more than people’s girlfriends
boyfriends mom’s dad I said I love it
because our emails break all the rules
they’re really long people say oh nobody
has time make it quick wrong if you have
something interesting to write people
will read 20 pages long emails and we
don’t allow people to buy it until the
time is right when the time is right we
open up our course you can join if you
choose if not that’s totally fine
rule number seven learn to handle knows
who here has felt some sort of rejection
in the last thirty days with your
business come on don’t me
everybody does and you know the crazy
part is they won’t tell you the truth
they’ll never say you spent the last
four years of your life building a photo
sharing app and the truth is I don’t
really care if my photos aren’t
organized they’ll never tell you that
just be like
I think the price is a little high
remember that five dollar ebook I
created I had people who were like
ramita loved the e-book I don’t trust
PayPal but I do trust the US Postal
Service so if you could set up a Pio box
in fact I’ll buy two copies and like
naive
ramita in 2006 I was like okay so I
actually set up a Pio box and I was like
waiting like where’s my bushel full of
checks and over the course of an entire
year I received one check for $4.95 both
make my mistakes the thing is they’ll
never tell you why they’ll never tell
you why so I want to show you how we
handle noes
here’s a script I’d like to show it to
you this is from a student of ours who
applied for a program he was accepted
and then he didn’t join let me read it
to you hi Karthik I noticed you were
interested in testing blah blah blah and
you filled out the application but you
didn’t sign up how come the course is
closed now but I just wanted to reach
out and find out what’s up so this is
written very intentionally first people
don’t like to be told hey you said you
were gonna do something and then you
didn’t do it they don’t like it but we
still want to find the answer to our
question so we did a couple things in
this email we’ve tested this when we
kept it really short
– it’s super conversational notice the
phrases how come or let me know what’s
up sometimes we say out of curiosity
we’re not saying you know we’re not
being super corporate about it and then
third we have to be really clear we’re
not trying to sell in fact the course is
now closed we we cannot collect your
money we don’t want it we get massive
responses so if you have had people who
are on your email list or in your
customer base and they have not bought
something from you you’re sitting on a
goldmine the type of answers we get from
this are amazing they’ll say things like
well I’d love to join but you know
course looks awesome but I’m in
Australia and I can’t fly to New York
we’re like dude it’s an online course
but that’s not their fault it’s our
fault for not communicating that or we
get people who say this course looks
amazing but it’s really expensive and I
can’t convince my husband or wife to buy
into it that’s actually really valuable
so now we can add that to our FAQ so we
collect these data points at every stage
of the customer experience before the
product in the product if they refund
etc etc I can’t tell you enough you have
to listen to the customer rule number
eight getting control of your life why
is it hard for us to talk about money
why is it scary and why don’t we talk
about it enough with our friends or
family why is that there’s one great
study showing people would rather talk
about their sex lives than their amount
of credit card debt I think that’s
totally true it’s three hundred percent
and think about what money means it
means that you were successful in this
culture and I am here you know know
people know me as the I will teach you
to be rich guy and I have always said
money is an important but small part of
living a rich life just because you make
more or less doesn’t mean we’re better
friends not at all has nothing to do
with that but it is important for people
to be in control of their money whether
they’re making fifteen dollars an hour
or fifteen thousand dollars an hour and
there are people I know who make that so
that just simply shows are you in
control of your life at whatever level
you are it’s embarrassing for people mmm
they’re never taught this and then
suddenly they graduate and they’re
supposed to know what tax withholding is
and what if a 529 and 401k and all this
crazy stuff is nobody taught it to him
so my goal here the reason I’m talking
about this is for people to feel more
confident about their money for them to
take control and for them to stop being
afraid and listening to random people
giving them advice rule number nine find
your mentors who are your money mentors
Mentors you know I’ve studied most of
the Great’s and I read their stuff I
think it’s absolutely fascinating to
know from different types of investors
different types of personal finance
personalities but the people that
influenced me most come from the world
of psychology they come from different
world so we have a we have a
amazing professor BJ Fogg one of my
mentors Brian Wansink at Cornell who
wrote an amazing book mindless eating
which is so close to money it’s just
about food all these guys eldini of
course who teach us about the true
theoretical psychology of why we do what
we do those are the people who actually
influenced me the most
ruah number 10 buy back your time I
actually want to make the case against
extreme frugality everybody everywhere
you turn you hear people telling you
what you can’t do with your money no
lattes no jeans no vacations save it up
in a little treasure box and then one
day when you can’t even see anymore then
you’ll be able to take the greatest
vacations of your life who wants to live
like that
I would rather you set your automatic
savings goals you set your automatic
investing goals and then you take the
rest of your money you’ll guilt free
money and you spend it extravagantly on
the things you love one way very simple
when you go to the grocery store maybe
you buy a bunch of pre-cut vegetables
now when I was growing up my mom thought
this was a huge waste of money I now
think it’s a great use of money because
it buys back my time another thing you
can do a lot of people live in New York
hire a dog walker you have a dog you may
not have time to walk that dog in the
middle today boom dog walker done and
then as you become even more successful
or more strapped for time there are even
more ways that you may want to spend
your money you may want to hire an
assistant to help plan your travel you
may want to spend for a business class
flight because when you arrive you’re
getting straight to work these are all
different ways that you can be thinking
of buying back your time as a general
rule of thumb I want you to be saving
five to ten percent of your take-home
income and I want you to be investing
ten percent of your take-home income if
you do that you’re on a good track and
that means that the rest of your money
after your fixed expenses like your rent
or your mortgage is guilt-free money now
I’ve got a special bonus rule from Ramin
on how to start small that I really
think you’re gonna enjoy but before that
it’s time for the three point landing
questions let’s go from just watching a
video to taking action here we go
question number one where can you add
value first to your clients
number two where
you need to get in control of your life
and number three how can you buy back
your time I started the blog while I was
in college I started it in 2004 because
and it wasn’t some bursts of genius it
was that I was trying to teach my
friends about personal finance and I
would sit there and listen at the dining
halls and they’d be complaining about my
overdraft fee or something and I would
say hey why don’t you come take my free
one-hour class and they said that sounds
awesome
and then they would never show up yeah
so what I learned later is that people
don’t really want to go to events about
money makes them feel bad about
themselves
you also don’t really want to learn from
your friends because your friend is your
friend you go out drinking with yeah
it’s not your friend you listen to about
asset allocation right and also I had a
lot to learn myself I was talking about
banking and budgeting which college kids
don’t care about so that didn’t work I
did that for a year and a half it’s very
frustrating I would show up nobody would
come but I just felt like I had
something that the world needed to hear
and I just said let me start a blog
maybe I’ll start it and these lazy
college kids will read in from their
dorm room and that turned out to be
exactly right
people liked to read someone like them
instead of lecturing them I would just
talk and I would talk to them about all
the things that people like you and I
care about we got that cheap friend who
never puts in a tent when we go out to
eat like all these things that are just
day-to-day real life and over time that
blog grew and grew and that eventually
turned into a business so when was the
tipping point where you decided okay I’m
gonna focus on the blog full-time well
that was something I thought about a lot
because at a certain point that blog was
kind of starting to grow and there was
you know like a hundred thousand monthly
readers and then 150 and I started
getting people emailing me and it
started to get into this thing that I
realized was a little bigger than I had
ever imagined but I told myself I’m
working at pbwiki
I’m committed and so the the mental
exercise that I ran with myself was I’m
not
gonna think about doing this full time
until my blog generates more income than
my full-time job for four months in a
row Wow and it like it would happen one
month and then it would stop so I had to
reset so it kind of just allowed me to
put that thing out of my mind instead of
constantly agonizing over it and finally
it started to actually happen
consistently and consistently that
didn’t mean I just jumped ship I then I
could start to actually think about it
because I knew that the financial
if you want more marketing top tens
check out the one I did on Joe polish
the link is right there next to me I
think you’ll enjoy it continue to
believe and I’ll see you there
there’s other people making money in the
business you’re in and you’re not
there’s nothing wrong with the business
you’re in there’s something wrong with
you however I’m really big on making money
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