Taylor Welch Profile picture
Jul 21 8 tweets 2 min read
Last night someone delivered a car to my house.

Was supposed to be there at 7:30 and ended up being 10p due to “traffic” in Nashville.

At first I was kind of annoyed but when the guy pulled up he said “is this your house?”

I said yea it is.
He goes, “What do you need and how can I work for you?” 😂

Turns out this young dude actually owns the car transportation company. Bought a truck 5 years ago and now has trucks and semis that transport cars all over the country.
I said “how about we blow your transport business up instead that industry is ripe for disruption.”

We ended up talking for almost an hour at 10pm cause #YOLO and now he wants to buy real estate with me and take over his industry lol

But it got me thinking…
The most foundational skill set universally, like of all time, is the ability to market well.

It opens up so many opportunities that it actually can create problems. Too much opportunity can hurt almost as much as not enough opportunity.
I can go into almost any industry at almost any time and engineer ways to dethrone whoever’s leading and replace them…

But “can” and “should” are two very different things.
For years I’ve had opportunities thrown at me on a weekly (now daily) basis and the difficult thing has been learning to say no to anything that doesn’t fit right now.

This is a skill worth learning and worth mastering.
Second lesson: you never know where opportunity is going to come from.

As the world shift and sorts itself, be mindful and open to VARIETY, not locked into the same old stuff (routines restaurants locations vacations relationships etc).
Easiest way to increased creativity is increased variety and a willingness to come out of routine and into adventure.

Crush the day friends.
Let’s get after it.

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More from @taylorawelch

Jul 19
A thread on creating wealth in the consulting niche…

By creating wealth I mean accumulating the capital and resources, along with accompanying skill set, to retire at any age with enough assets to pay the bill.

#BEGIN
The idea is not ‘perpetual’ labor or work but rather, predetermined targets and systems that eventually work your time down to hyper-leverage.

To the extent you can make decisions BEFORE the “deciding” is needed, you will be successful.
People often don’t lack “discipline” they lack a proper design and then don’t know how to discipline the decision…

Here’s how it works.

Let’s say you need to make $300k personal take home. Your lifestyle is good, but not exorbitant.
Read 18 tweets
Jul 18
“Comparison is the thief of joy.” Theodore Roosevelt

Six ways comparison steals from you and how to reverse them each:
1. Comparison inflates the success of other.

Fix: remember they are mortal. No one has any advantage over you except time & belief.
2. Comparison lessons the cost others paid to get their success.

Fix: follow their journey back a ways… they made mistakes, lost money, and learned from costly errors same as everybody else. No one is above the cost.
Read 7 tweets
Jul 16
In 2018 people told me consulting was in a “massive bubble.”

In 2019 they told me to stop buying real estate “at the top.”

In 2020 they told me to stop hiring people as the economy was about to fracture.

People love to hear themselves talk.

I found my crew.
I pay attention to what they say.

I ignore almost everybody else.

There is a path forward in all environments, all circumstances, and all economies.

Nothing will ever trap you behind your ability to “think, plan, and asapt.”
What people call failure is just temporary setback.

The key is learning how to learn from both action and inaction and applying the rules accordingly 💪

Don’t hang onto a bad decision trying to rectify it.

Record it, let it update your algorithm, correct the next time.
Read 4 tweets
Mar 4
Once your income is ‘safe’ you need to focus on multiplying your money, not just “earning MORE.”

I’ve consistently multiplied at a 50-70% clip for the last several years. Here’s an A-Z roadmap to how to start this process:
🏆 Set your targets. 

The saying “high risk = high yield” isn’t exactly always true but the point is, what GROWS quickly can also DECLINE quickly. It’ll be important to have allocations that are safe/steady and lower return with a few moonshots. 

Easy way to do this is:
🏆 Big bucket // Little bucket 

Examples of each: 

* $1.5m at 6-8% that is steady w/bit of upside after a long hold period. 

* $500k at 10%+ that will carry some dips along the way 

* $100k in moonshots that could 1,000x but probably won’t… you’ll probably lose it…
Read 11 tweets
Feb 27
The Insurance Secret (and how to make it all free)

Let’s break down insurance… not just why you need it by how you need to get it.

This thread will button everything up for you.
First: term VS whole life.

The question is whether you want your insurance to JUST secure your downside, or if you’d like it to (a) secure downside, (b) pay you for doing so, and (c) fund purchases / investments while doing both a & b.

I’m gonna go with whole life for now.
There are 3 parts to focus on:

🏆death benefit
🏆cash value / return
🏆liquidity

Imagine a bank account that (a) pays you 5% every year, (b) pays you to borrow money and (c) if you die, pays you 3-4x what’s in your savings account…

That is whole life structured properly.
Read 16 tweets
Feb 25
How $350k turns into $1m…

There are two types of people — the “interesting let me learn” and the “impossible that sounds fake.”

The world is full of cynics and they’re all broke. This thread is for the first type of person. Here is ONE such example of money multiplication:
✅ $30k dumped into base whole life policy

And then $25k/mo premium for year 1.

You end the year with $330k in cash value and 90% accessible loaning against the policy year 1. Why put in policy? Because it grows 5% a year and is absolutely bulletproof.
✅ $297k pulled out to “borrow” still growing at 1-2%/yr

This is because the cost of capital is lower than the return on capital from the policy.

-$50k goes into RE syndication
-$50k into stables
-$100k into 3 business acquisitions
-$97k into operator to run/manage all 3
Read 8 tweets

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