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The Almanack of Naval Ravikant
4 types of luck
- Hope luck finds you: fortune, fate, etc
- Work for luck to find you: persistence, hard work, running around creating opportunities. Become the best at what you do. Refine what you do until this is true. Opportunity will seek you out.
- You Spot luck: If you are very skilled in a field, you will notice when a lucky break happens in your field, and other people who aren’t attuned to it won’t notice. So, you become sensitive to luck.
- Luck becomes your Destiny: you build a unique character, a unique brand, a unique mindset, which causes luck to find you.
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SIMILAR ARTICLES & IDEAS:
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Key Ideas
How you can invest in yourself
The foundation for every personal pursuit in life is to invest in yourself. It can take years. How you can do it:
- Learn to build something. If you can create something valuable w...
Income generation
Once you have ideas, you want to put your ideas to work. If you do that, you can start creating value. When we create value, we generate income.
During the pandemic for example, most restaurant owners had to focus on other ideas to generate income. Building wealth is not easy. We need a constant supply of ideas.
Asset investing
It is anything that will increase your wealth without personal labor.
- Businesses. This is a broad asset class. You can buy dividend-stocks on the market, and then the companies will pay you a share of the profit. You can start your own business. You can buy into other private businesses.
- Bonds. When you invest in bonds, you collect interest just like your bank is collecting on a mortgage.
- Books. A good book will generate cash for a long time.
Assets that don't generate cash, but might increase in value.
- Land. A piece of land generates cash when you rent or lease it.
- Collectibles such as art or watches.
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Key Ideas
Stress + Rest = Growth
You need to push to the outer limits of your current ability, and then follow that hard work with appropriate recovery time.
This is how you grow your mind and get better at any skill....
Focus on the Process
The best athletes and entrepreneurs aren’t focused on being the best; they’re focused on constant self-improvement.
Concentrating on the process is best for both performance and mental health. It lifts off your shoulders a huge burden, so you can concentrate on the things you can control.
Stay Humble
Knowledge is always evolving and advancing — if you want to evolve and advance with it, you need to keep an open mind.
And to keep an open mind, leave your ego at the door.
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Key Ideas
Success And Buying Too Many Books
Many of us buy lots of books that go unread and causes us guilt, but that’s a habit that many successful people have they believe they are better off for it.
For those who actually put in the...
View Books As An Experiment
It costs you money and time, but it may pay for itself by changing your life for the better. It’s an experiment. And the more “smart” experiments you perform, the more likely you are to find a breakthrough experiment that changes everything.
Inherent in being a good experimenter is being OK with the losses. Therefore, remember that every time you purchase a book that turns out to be a dud, you are just one step closer to a book that will change your life.