The Second Rule Is Never Forget The First Rule 2017-11-11T20:11:48+00:00

I’m surrounded with mixed messages- on one hand, the obvious is being pushed on me (I need money- we live in the world of specialization, people do what they’re good at and exchange that value for what they’re not good at, so other people do it for them).

All wealthy people have a vehicle to capture value; people want to exchange money for screens from which they play games.

The first rule of business is to not lose money, and the second rule is to not forget the first rule – Warren Buffett.

I am part of the economy and the value is lifetime earnings that I created (business, career)- how much would the world be missing on without me?

When it comes to money there are so many viewpoints and people get confused (political and economic- capitalism, communism…) But focus on the fundamentals of what everybody agrees on. All religions say you have to have faith, hope, optimism, but you also need action!

I need a good vehicle that I can get paid, get money; I don’t need to overcomplicate things, business is not much different than life. In order to get capital, I need some value, people will not pay me for anything, even if it’s perceived value (video games).

Getting rich quick is a mirage, we only have the capacity, we can’t get good at something in a day, so to have lasting results I need to be very good at something; I’ll get the money eventually.

When you plug in your value into a business, it will give you value back; very simple. That’s always better than just saying just buy this (one asset class).

You need to do something that will give you massive value in return, not just anything. It can’t just be perceived value, other people have to evaluate me as well and see I’m really good.

The world will always be testing me for value.

What’s our 3 feet world around me?

If there’s not a lot of people like you, you’re worth more (Lakers players get more money than professors) and it’s in demand- rear and in demand.

If you create a lot of value you’ll make it in any political system (probably).

“The world doesn’t respond to need, it responds to seed (more insights).”

Be so good they can’t ignore you.

What’s your superpower value you can offer the world?

How well are you capturing it profitably?

What’s one way you can add more value to what to do?