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I became a full-time creator last year.
Most books I read about business didn't help me at all. But there was one book that helped a lot:
The Almanack Of Naval Ravikant.
This book contains Naval's best business and happiness lessons. But in this article, I want to focus on the best business lessons.
Here are the 5 best business lessons I learned that'll help you to become a full-time creator in the next 6-12 months:
Money is social credit. It's how we transfer wealth.
Society will pay you for creating things it wants (but doesn't know how to get yet).
In return, you get credits that you can use later. Money is just the label we've attached to that. Money is nice, but wealth is what you really want.
A rich person has a lot of money. A wealthy person has assets that make him a lot of money while he sleeps.
This can be real estate, stocks, code, media, or digital products.
In short:
Money is a form of social credit that society rewards you with. Wealth is assets that earn for you while you sleep.
The goal is to make money first, then use it to become wealthy. This is how you disconnect your time from your income.
"You’re not going to get rich renting out your time. You must own equity — a piece of a business — to gain your financial freedom."
There's a limit to how much you can earn with your time. Because your time is limited.
Even if you work 16 hours per day, that's limited.
You won't be able to earn more than 16 x your hourly rate. And your hourly rate won't magically keep going up.
So if you earn with your time, your income is capped and you'll need to spend a lot of time to keep your income high.
The solution to this is earning with your mind. There are two things you need to be able to do this:
"Learn to sell. Learn to build. If you can do both, you will be unstoppable."
You need to learn to build so that you have something to sell. You need to learn to sell so that people give you money for it.
Once you have something that sells, you can sell in on scale. This is how you earn with your mind instead of your time.
To sell on scale, you need leverage. Leverage is a force multiplier for your judgment.
"Give me a lever long enough and a place to stand, and I will move the earth."
Leverage is about getting a bigger outcome from the same input.
Levers are force multipliers. It helps you to get more without doing more.
This is how some people can accomplish 10x, 100x, or 1,000,000x what others can.
So how do you build leverage?
Create things that scale.
There are 4 types of leverage:
Code and content are best because they're permissionless. You don't need others for it.
But leverage alone isn't enough, you also need good judgment.
Leverage is about how hard you push. Judgment is about where you push.
“In an age of infinite leverage, judgement is the most important skill. Picking the direction you’re heading in for every decision is far, far more important than how much force you apply.”
Your speed is irrelevant if you don't move in the right direction.
Judgment is about getting the direction right. Leverage is about moving fast into this direction.
If you don't know where you're sailing towards, no wind is favorable.
So you need to get clear on your direction first. After that, apply as much leverage as possible.
Combine leverage and judgment with accountability and specific knowledge to productize yourself.
You need specific knowledge to get rich.
Specific knowledge is something that society wants but doesn’t know how to get.
You get rich by giving it to society on scale.
"Specific knowledge is found by pursuing your genuine curiosity and passion, rather than whatever is hot right now."
Specific knowledge is found by pursuing:
You find it by doing what you naturally love to do.
Observe what you spend your time on and what you're naturally good at. Double down on your unique strengths.
"When you’re doing something you’re naturally inclined to do — something that feels like play — that’s usually where specific knowledge lives."
It will feel effortless to you but it will look effortful to others.
To develop specific knowledge:
Once you have specific knowledge you can sell it on scale.
If you want my system for turning your (specific) knowledge and skills into high-quality digital products that sell on while you sleep, check out Productize Knowledge.
It has helped many of my customers to create digital products that paid back their investment with just one sale. So if you have valuable skills and knowledge that you want to turn into a high-quality digital product, it might be worth checking out.
Competition is an illusion.
We all have our own unique strengths and weaknesses. No one can compete with you on being you.
"Escape competition through authenticity."
You don't need to become the best in the world at everything. You need to become the become version of your authentic self.
When you're doing what you love to do in a way that's true to who you are, you stop competing and start creating.
If you love what you do, you won't be jealous of others. Because you're already doing what you are meant to do.
"The goal is not to retire. The goal is to find work that feels like play to you but looks like work to others."
This is the work you are meant to do. It's the work that feels almost effortless to do. And because it feels effortless, you'll be happy to do it.
It’s sustainable. It’s energizing. And it compounds.
And as a result, you spend a lot of time doing it and you have no problem staying consistent with it. Which is why it will pay off massively in the long-term.
So get clear on what you actually want to do, build digital leverage, stack skills, and create quality products that help others on scale.
This is how you can get paid to do what you love while also helping other people learn faster. Massive win-win.
I hope this article was helpful my friend.
You can sign up to my free newsletter below to get articles like this in your inbox.
And if you want my exact systems and strategies for becoming a full-time creator with freedom, check out the resources below.
Talk soon my friend,
(Ein)Stijn
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