How to get SO rich you question the meaning of making money

Traditional definitions of work are outdated. For knowledge workers, work should be defined as outputs, not just effort or hours put in.

My definition is simple:

Work = Outputs (Volume x Leverage)

To work faster:

Work Rate = Outputs / Time



To increase your outputs, you can either increase your activity (volume) or improve your leverage.

Volume is limited by time and physical capability, but leverage is unlimited.

Take Warren Buffett, for instance.

He earned $500 million in dividends from Coca-Cola last year with minimal effort compared to the CEO who earned $50 million but worked much harder.

Let’s break down how leverage works in real-world scenarios:

1. Skill and Tools: If two people make the same number of calls, the one with better skills or tools (like an automated dialer) will achieve more.
2. Quality Leads: Given the same tools and skills, the person with better leads will perform better.
3. Better Offers: The individual with the superior offer will outperform others with the same leads, tools, and skills.
4. Automation: Recording a pitch and sending it to millions outperforms even the best live caller.
5. Team Leverage: Managing a team of callers can exponentially increase outputs

There's a common myth about passive income.

In reality, nothing is truly passive;

it's about how active the income generation process is.

Even a seemingly passive activity like stock trading involves a significant amount of time analyzing and executing trades.

The real measure is how much you can earn for each unit of time invested.

Adapting to new methods and ideas often involves a predictable emotional journey:

1. Uninformed Optimism: Excited about a new opportunity without fully understanding it.
2. Informed Pessimism: Realizing the challenges involved.
3. Crisis of Meaning: Questioning the effort and considering giving up.
4. Informed Optimism: Discovering effective strategies and starting to see results.
5. Success: Achieving your goals and attracting attention from others.

If you want to outwork your competition, you need to out-leverage them.

More outputs for your time means more success.

Don't fall into the trap of switching opportunities without fully understanding and leveraging the current one.

Have you ever felt like you were spinning your wheels, trying to juggle multiple business ventures or ideas, but not truly excelling at any of them?

You're not alone.

In a world obsessed with multitasking and quick wins, it’s easy to fall into the trap of spreading yourself too thin.

But, as many successful entrepreneurs will tell you, the secret to true success lies in focus and patience.

Iwe'll dive into some eye-opening insights from a seasoned entrepreneur, who shares hard-earned lessons on why sticking to one thing can lead to extraordinary results.

"Everyone thinks the grass is greener" .

This colorful analogy highlights a fundamental truth: every business, no matter how glamorous it appears from the outside, comes with its own set of challenges.

The key to overcoming these challenges is not to hop from one opportunity to another but to dig in and understand the nitty-gritty of your chosen field.

Whenever we're starting something new, we encounter something that makes it shittier."

One of the most impactful stories shared is about a friend who owned a roofing business but was also dabbling in general contracting and house flipping.

When asked why he wasn’t focusing on just roofing, the friend said he didn’t want to leave money on the table.

But the truth, as the speaker points out, is that "the money you are leaving on the table is the focus that you're not giving to the one thing that matters."

By scattering his efforts, his friend was missing out on the potential to build a billion-dollar roofing business

The importance of genuine learning, which only happens when you apply new knowledge and change your behavior accordingly.

To achieve true success, you need to do one thing for a very long period, get help from others, and learn from mistakes quickly.

"Ordinary business done for extraordinary time creates extraordinary results."

This nugget of wisdom speaks to the power of compounding.

When you stick with one business and continuously improve it, the effects of your efforts multiply over time.

It’s about making better use of what you have rather than constantly chasing new ventures.

"If the vehicle you are in right now does not compound with time, then change the vehicle."

Imagine if you had a magic wand and could eliminate all your side projects except for one.

How easy would it be to grow that one business?

Most people realize it would be significantly easier.

The difficulty lies in making the tough decisions and having the hard conversations to let go of distractions.

"All the riches you want are on the other side of a few hard conversations," reminds this.

Inspired by "The Matrix," the metaphor of the woman in the red dress to describe distractions.

"You need to become the person who can say no to the woman in the red dress."

The idea is that as you become more successful, new and seemingly better opportunities will constantly tempt you.

The ability to say no to these distractions is crucial.

This discipline must be exercised at every level of success, whether you’re turning down a small opportunity or a multimillion-dollar one.

The overarching message is clear: focus is the key to multiplying your success.

By sticking to one thing and making it better, you create leverage and drive growth.

"Better is better than new."

If you want to see real results,

you must resist the urge to chase every new opportunity and instead commit to doing one thing exceptionally well.

Have you ever felt stuck in a loop, constantly seeking the next exciting thing to boost your business?

It's a common trap for entrepreneurs. But what if I told you that the real key to success lies in the mundane, the repetitive, the boring?

Many entrepreneurs leave their jobs and get an emotional high from starting something new, only to jump ship when the initial excitement fades.

This pattern is dangerous because it teaches you to associate quitting with rewards.

The truth is, as you advance in your entrepreneurial journey, you need to unlearn this habit.

Success comes from sticking with the boring but crucial tasks that others avoid.

“Better comes from boring. It is not exciting to run your 38th split test on a landing page, but it does make you more money.”

Think about the list of tasks you know you should be doing in your business but aren’t.

Often, these tasks are the ones that will bring the most value.

We avoid them because they seem dull compared to more stimulating activities. However, embracing these tasks is where the magic happens.

Having multiple businesses might sound impressive, but it often leads to diluted efforts and poor results.

“It's so much easier to stack the deck in your favor if you just do one thing. When you focus on one thing, you make it unreasonable to fail.”

Consistency is often underrated.

Whether it’s sales calls, role-playing with your team, or testing new ads, doing these activities regularly—not just once—yields significant results.

The difference between a good and a great business often comes down to who is willing to put in the repetitive work.

Many entrepreneurs are in a rush to grow, leading them to take shortcuts that undermine their product or service.

The key is to build a solid foundation, even if it takes longer.

This approach ensures sustainable growth and positive word-of-mouth.

“The guy who takes the first year to get the product right makes everything easy. But no one can wait 12 months because they can't see the big picture.”

The concept of leverage is crucial in maximizing your efforts.

By focusing on better offers and improving your product incrementally, you can achieve significant growth.