Sandip Prasad's Four Wealth Principles [MFM]

From Shaan Puri From Broke to Millions I spent my twenties failing at 8 businesses in 8 years. I wasgrinding, sleeping at the office 240 days a year, doing Then I met people who had actually done it. They weren'tsmarter than me. They weren't luckier. But they had a different If you've got less than $1M liquid right now and you want tostop worrying about money forever, this guide is for you. The 4 rules 1.Master ONE money-making skill2.Don’t rent out your time. Own equity.3.Be impatient with action, patient with results4.Proximity is power “Money is like swimming. Either you learn how to do it, oryou’re just going to be thrashing around, getting nowhere, - Shaan Puri Rule 1. Master ONE Money-Making Skill Forget what you studied in college. When it comes to building ●Selling— persuading, marketing, closing deals●Making— creating products, apps, videos, books Pick ONE. Master it. How to master it Days Work at the highest-velocity company in your chosen skill(like sales). Find the #1 producer there (like the topsalesperson), and double their input. If they make 100 calls, MrBeast decided at 12 his skill would bemaking YouTube videos. Every day he'd flip torandom dictionary words and force himself tocome up with 20 video ideas from each word.He tried to make one thing better about his Nights Read books, watch videos, obsess over the craft in The bottom line Master one skill = path to millions. Master two skills = path to billions. Warren Buffet is a master hunter. He used toread the entireMoody’s Manual — 4000 pagesof corporate financials — cover to cover,looking for any stock that’s mispriced. Having And you don’t even have to be the top 1%. Just be in thetop 20% of two things that aren’t common. Steve Jobs - Rule 2. Don’t rent out your time. Own equity. Here's where most people screw up. They take their skill andget "hired" for it. They climb the corporate ladder, get raises, So how do you own equity? Two ways: "The two most addictive things in theworld are heroin and a monthly salary." ●Start a business●Invest in one - Nassim Taleb If you don’t have cash to invest, then start something. Use yourskill and turn it into a business that can serve customers while How to turn your skills into a business Bottom line: If you only rent out your time, you'll never escape the treadmill. Equity is your only exit. Rule 3. Be Impatient With Action, Patient With Results This is the hardest part. You don't plant a seed and dig it up the next day screaming "Why If you've followed rules 1 and 2, getting rich is now inevitable. But The Secret:Move fast on execution. Wait patiently for results. Bad news: It takes trial and error. It can take years.Good news: You only need to get rich once in your lifetime. Rule 4. Proximity Is Power Even though good things take time, you can speed up the process. How? MOVE. Literally move. ●Want to be in tech? Move to San Francisco.●Want to make movies? Move to LA.●Want to build wealth? Get around people who are doing it. “If you want to change your life,change your zip code.” - Shaan Puri I don't just mean moving to the city. Move into a house with as manysmart, ambitious, like-minded people as possible. The cliche “you’re the The bottom line You learn through osmosis. At 24, I was in Australia trying to start acompany. I went to a founder meetup and theyasked me to give a keynote speech. I wasn't Hang around broke complainers, you become one.Hang around killers, you level up automatically. If I'm the smartest guy in the room, I'm in thewrong room. Next week I bought a one-wayticket to San Francisco with no plan and no what happens when you follow these rules ●You master a money-making skill●You turn that skill into equity (not a job)●You stay patient while taking massive action●You move closer to where the action is Steve Martin wanted to learn the banjo, buthe wasn’t naturally gifted. So he decided topractice it for 40 years until he gets good.He didn’t need 40 — within a decade ofpracticing he got so good at banjo, he won Result: You flip the odds from 90% failure to 90% success. Your Next Move Money is a skill, not luck. Not magic. It's not reserved for geniuses These aren't just theories. This is the actual playbook I used to gofrom broke to my first million at age 30, and being worth $25M a “The best advice in the world is totake actions that make it The system works. The question is: Will you work the system? - Shaan Puri Remember:Startups fail. Founders don't.Keep your rate oflearning high, and you won't fail either. For more money wisdom and founderinsights, subscribe to