Manage episode 292444250 series 2821079
What if I told you, you could skip the line? Experience is no longer the key to success! Would you believe me? Join James Altucher (Hedge Fund Manager, Author, Podcaster and Entrepreneur) and Eric Partaker as they share tips on how to reach your full potential and discover how James became the successful Entrepreneur he is today.
Skip the line! – There will always be people who want to tell you ‘You can’t do it. You cannot skip the line. Stay in line, pay your dues. It’s not going to happen.’ When someone tells you this, they are imprinting their own goals on you, their truths, not yours.
Efficiency is the Answer – 1% of your focus could generate 50% of the benefits you seek in life. So be aware of yourself when you are doing something mindlessly, or you’re not optimizing your training and your study. Inefficiency is a waste of time.
The Power of 10 - Spend 20-30 minutes a day writing 10 ideas down. Exercise your idea muscle. Use this list to focus on businesses you could start or industries that could be disrupted and changed, or things in life that could be better.
Stress Creates Strength – Stress the muscle to cause it to grow. Put in the effort and work hard in order to level up.
Broadcast Your Ideas – Sharing ideas builds a network, people learn to trust you, people try your ideas. Don’t stress about people stealing your ideas. If you are exercising the power of 10, by tomorrow you will have 10 more ideas. Be abundant with ideas, as opposed to scarce.
Create the Room that Nobody Else is in – If you’re the only one, you are going to get known. Not only will you be noticed but with the skills that you are combining you might be the best in the world.
The Only Failure is Not Trying – Experiment with your ideas using these three rules. It should cost almost nothing, it should be very fast to do, and there should be little downside. In the worst case scenario, even if you do not succeed, you will still learn something. The upside is you could gain a huge business out of it.
Love What You Do – If part of your energy is used convincing yourself to try the idea, that’s energy inefficiency. If you love something, you can use that energy that would have been required to convince yourself to work harder on your idea and do it better.
Plus, Minus, Equals – PLUS: find yourself a mentor to learn about the top echelons of the industry. EQUALS: Find people who are like you, who are interested in your industry, and with whom you are roughly at the same level. Challenge each other and compare ideas. MINUS: Less is more. Learn how to teach and explain your ideas simply. If you cannot explain something simply, then you do not truly understand it.