Thread by @BowTiedElephant

DEFINITIVE GUIDE TO DOING THE OPPOSITE (Part 3/3)

🦄🦄 ADVANCED EXAMPLES 🦄🦄

A @BowTiedBull value-bomb Thread 👇

1) WHO YOU ARE DETERMINES YOUR NET WORTH

Don't compare yourself to others. Focus only on improving yourself and your situation

If you have more information on topics X, Y and Z... Then naturally you’re going to move up the food chain

Similarly, if your contact list from year 1 is not the same as year 2...
You did something

Notice. Your network will expand in proportion to how valuable you are as a person

2) USE MONEY TO BUY PEOPLE'S TIME

→ hire someone and pay them an hourly wage or annual salary – no ownership!
→ it can mean advertising since you are paying to capture the attention of people

→ it can mean paying 1000s of $$ to obtain face to face interaction with someone you need to meet

3) BUILD RICH ALLIANCES

Example, this blog (wsp). We didn't build it to turn it into a "resume review service". That'd spoil our reputation

Instead you build up a long-standing relationship and eventually you will both (the readers) find a way to profit

That is a much smarter long-term model

(🐘: hear hear! The proof of the Bull's current Degen Island vision years ago!)

4) GO FOR REAL MONEY IF YOU'RE GOING TO BUILD SOMETHING

Everyone else tries to short cut the path to real money

No, real money is not “$250K per year” or some such non-sense

Real money is $1+ million per year or *at least * a one-time payout of $1M+

Real money is made when u develop many many many contacts (adding value to the bottom line of these contacts) over a long long long period of time and pull the trigger on an *event*...

or by creating a recurring subscription revenue stream

That is the reality because “getting rich slowly” is hilarious at best

5) LIVE BELOW YOUR MEANS

This will allow you to take risks in the future

Lets assume that you are financially successful and have a liquid net worth of ~$1M by the time you are 30

That $1M in liquid cash is going to give you cash flow of about $50K per year

If you are smart (see doing the opposite), you will now use all of your extra cash flow to invest aggressively in businesses and higher risk assets (private equity, venture debt, venture capital and others (crypto!))

Everyone else would go on a ridiculous spending spree, buying things they don’t need to impress people who don’t matter

If you don’t believe this, why are people who win the lottery always broke? Now you know

cover your living expenses with investments as fast as possible

If you've done all 5 above, then what's left?

CONTINUE DEVELOPING NEW INTERESTS

Make sure that you combat complacency by continuing to get outside of your comfort zone

FIN!!!

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Today's edition (which comes out in few hours) talks about how I earned my first second income and some ideas for you to do the same

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