Most people say they can, but can they?
A few years ago, the 50 billion dollar man, Dan Peña, created a challenge (as he explains in this video at 4:23) for the mentees on his email list. The reward of executing the challenge was the priceless jewel of coming for the castle seminar he hosts in his castle home. The challenge sounds simple but the participation rate was alarming. There were about 50,000 recipients of the email with the challenge. The challenge was to go to dealerships of exotic cars like Rolls Royce, Lamborghini, and act as a buyer. The goal is to take selfies and pictures to send them back to him. In other words, to smell the leather and feel what it feels like to be super-rich. Also, to go to houses worth millions of dollars to act as buyers and take selfies. Only 8 people did, out of 50,000. That is less than 0.1%. …
The best gift for the undecided at graduation
The book I wished someone gave to me when I graduated didn’t exist when I graduated. I had to write it. And it is not filled with my story or my ideals. It is filled with the insights I gained from watching rich people. The main reason is not money. Instead, it is in the fact that progress is happiness. If you want to be happy in life, you have to remove the worry about money. Also, you must know that you are making progress on the path to create the life that you want. Not the life the government wants for you. Not the life your parents want for you. Not the life your schoolteachers want for you. …
Start early…
People without rich parents have an advantage, they don’t have any shadow they have to break from. Whatever they achieve will be classified as their own effort. But rich kids have a serious problem with this. Even if they refuse all help and get something done on their own, those around them will still say that they had it easy because of their parents. And it is very frustrating for kids like this.
It is an innate desire of every person to be recognized or responsible for some success. People with poor upbringing quickly gain a sense of purpose when they see lack all around them and see others having plenty. …
If millennials buy from you, the ball is in your court
Do you realize that the school system is raising kids to be failures in life? Almost everybody agrees there needs to be a change. But nobody wants to create that change. If you want the young ones under your care to succeed against the overwhelming system, you have to prepare them with different information. And this challenge doesn’t lie in the hands of parents and teachers alone. If you have a business and your clients are majorly fresh graduates or people about to leave school, you are in a better position to help.
A rich man once commented on the standard of education. He said if only the teachers are put on commission and be paid according to the grades of the students (with the exam set and marked by someone else), the standard of education will go through the roof. And I think I agree. But that is unlikely to happen. …
Costs nothing to explore
According to Jay Abraham, there are 3 ways to increase revenue in any business. The first way is to get more customers. The second way is to sell more things to the customers you have. The third way is to increase your price. He also goes ahead to add that if you use one of the ways, you increase your business incrementally. But if you do any combination of the 3 ways, you increase your business exponentially. Most people know how to get customers and how to increase their prices. But they don’t know how to sell more to their existing customers. …
It took 4 months of non-enjoyable work
When I started writing on Medium early in 2018, I had no guide. I had to figure it out myself. Of course, I was glad that I found a platform where I can grow my writing craft. But I didn’t know anything about growing an audience. In my first month, I published 4 stories. Then I observed I had to do more to get more eyeballs on my work. And it was rocky all the way.
I remembered I took an online course that said to follow a lot of people at random. I think it was 200 per day. It didn’t take too long for me to notice that it doesn’t work that way. The idea was that some people will follow back. Turns out very few people do. So I knew there has to be a better way. …
The priceless advantage of knowing how money works
When a banker resigns from the banking job to go into entrepreneurship, they are not changing careers. They have just decided to continue playing the same game from a different angle. The fact that they were bankers gives them a unique advantage over any other kind of entrepreneurs if they paid attention to what matters while they were working in the bank. At least, it won’t be the first time dealing with huge amounts of money. And you can be sure they will take advantage of every banking rule that favors entrepreneurs which most people are not aware of (at least, initially). …
One story can change your mood about something you are dealing with
I got good encouragement from a very unexpected source. I started this gathering of young people to talk about money. Not in a figurative sense or in a way to hype up people’s emotions. We talk about big money moves around us and analyzing different business opportunities.
In our most recent discussion, a young lady mentioned something that she didn’t even know had a great impact on me. It was a story she was familiar with. But before I brief you about the story, let me tell you what was bugging my mind before then.
I got into a business deal about a year ago. My partner was the one in charge of the business. It was an export business and the prospects sounded very good. I jumped in. But we had insane difficulty in raising money. Over a year later, we were still on the issue of raising money. The business deal is very capital intensive. We had buyers already, but operations couldn’t begin because the large funds just kept delaying. …
Opportunity isn’t scarce
Lack of resources has never stopped anybody from achieving success. The lack of resourcefulness has been the problem. It’s not about how unfair the process is to you, rather it is about the fact that you could not figure out a way around it. There is always a way around every obstacle.
If you want to have more money, stop thinking about how to make money. Instead, start thinking of how you can add value to people in such a way that they would gladly pay you for that. …
Here is what he does and how he does it
Kyle Dayne is the CEO of Sales Source, the company he created to give other people the competitive edge in the saturated business landscape of e-commerce. But before the company, he was already very successful at the business trend of e-commerce known as dropshipping. In his dropshipping business, Kyle earns $200K per year from the United Kingdom.
I sat down with Kyle to ask him a few questions about his journey and current take on dropshipping as a business. His answers are worth listening to.
How did you get into dropshipping?
I started dropshipping at the beginning of 2018. I was looking at different ways of how to make money online and I came across the dropshipping business model. It seemed very accessible as I didn’t need to have much capital at the beginning. I started with 200 euros that I got from my grandma. I started a vegan clothing store as I wanted to target the niche that is very passionate about the products and I know would be willing to spend money on them. …
