A list of books I hate because they make young entrepreneurs think about business the wrong way.

A thread.
Zero to one - Peter Thiel

I don't get it. Entrepreneurs aren't trying to re-invent the wheel. The ones who do fail.

It's about small, incremental progress.
Blue Ocean Strategy - W Chan Kim

It's not about the blue ocean and a monopoly.

Its expensive, risky and you're going to fail. Find a pink ocean where the market exists and you can carve just enough for yourself.
Steve Jobs - Walter Isaacson

He's a jerk. What he did won't work for you. You can lead through fear or you can lead by getting folks who work for you to WANT to do the work.

How not to manage 101.
Outliers - Malcolm Gladwell

Why are we studying unicorns?

Don't try to be an outlier.

Do common things uncommonly well and you'll win.
Millionaire fastlane - M J Demarco

He suggests finding a tech biz to invent, making a bunch of money, and then putting it in government bonds to earn just enough to get by through retirement.

A ridiculous way to invest a nest-egg.
Art of War - Sun Tzu

Book idea: be extremely vague like a palm reader and let people use their imagination.
The Secret - Rhonda Byrne

A joke. Accomplishing things takes action, doing, working and making things happen.
Good to Great - Jim Collins

Just what we need! More case studies on massive fortune 500 companies!
Start with Why - Simon Sinek

Let's study folks who founded tech unicorns and make a bunch of early estimates about their passions and what they did best and act like they are heros.
The theme:

These books outline principles that work very well for fortune 500 CEOs and billionaires. If you want to change the world then read these books.

But...
These themes are not applicable to opportunists. Folks who start small.

Folks who put themselves out there with a small biz. Folks who are worried about cashflow and doing common things well.
Forget these books and get out there and learn to sell yourself and your ideas.

Go make $1000. Don't try to change the world.

Build a sustainable business that can help YOU accomplish your goals.
Spend your time studying unicorns and you'll end up working for somebody else.

Spend your time looking for opportunity and you'll make something of yourself.

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More from @sweatystartup

28 Jan
Time for a BOOK LIST.

I've read over 250 self-help and business books..

Heres a list of the ones that have had the largest influence on my life and career.

A thread:
Never Split the Difference - @VossNegotiation

It outlines and reinforces the fact that business, negotiation and any human interaction is inherently very emotional. Mirroring, tactical empathy, starting with no and labeling are all phenomenal.
The E-Myth Revisited - @MichaelEGerber

The first stop for any beginner. This is a great book about the importance of creating a business that can thrive without you. Preaches a lot of my favorite business principles like working on the things that are important but not urgent.
Read 24 tweets
27 Jan
The wealthiest person I know prints millions out of thin air in the real estate business.

This is what he does...

A thread.
He finds a distressed retail plaza. Let's say 50% of the space isn't leased.

On a 300,000 sf plaza that might mean 150k square feet is vacant.

If asking rent is $8 per square foot per year, that means the building has a "potential revenue" figure of of $2.4MM.
So in this retail center 50% is leased and 50% is vacant. So the actual revenue, right now, is $1.2MM.
Read 17 tweets
26 Jan
Think slow, work fast.

A thread on entrepreneurship and what folks don't understand about opportunity.
It comes in waves.

Long periods of time are spent blocking and tackling and going through the motions.

Short periods of time can change your life.
Don't get me wrong, successful folks are consistent. They show up. They stay focused for years.

But...
Read 12 tweets
25 Jan
A thread on how real estate investors, developers and operators can make millions a year and pay almost nothing in TAXES by using depreciation, bonus depreciation, and 1031 exchanges.

How it works:
Depreciation is the act of slowly, over time, deducting the initial expense of an asset against your taxable income. Generally over a 27.5 (residential) or 39 (commercial) yr time frame. So each year you can write off 2-3.6% of the purchase price against your income.
Thats a big deal. We're buying a new property, a $3MM self storage facility. Thats a $60k a year write off against about $260k in NOI and 200k in cashflow on a $3MM deal.

It makes 30% of our cashflow tax free.

Very powerful but there is much more to it...
Read 21 tweets
24 Jan
What successful people understood before they were successful.

A short thread.
Mentorship isn’t about finding a great mentor.

It’s about becoming a person great mentors WANT to help.
Hiring isn’t about finding good people.

It’s about becoming a person good people want to work for.
Read 20 tweets
24 Jan
My partner and I started a business out of our dorm rooms in 2011 while Juniors in college.

But our tool of choice wasn’t groundbreaking code.

It was a 1999 ford cargo van we bought for $1500 on craigslist.

A thread about me.
It was a pickup and delivery storage business for college students. When they went home for the summer, we picked up all of their stuff and stored it nearby. Then we’d bring it back to them when they came back.
We didn’t make much money at all the first few years.

A lot of grinding. Late late nights in warehouses. 140 hour work weeks.

A logistical nightmare of a business.
Read 9 tweets

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