Ideas are the currency of life. Not money. Money gets depleted until you go broke. But good ideas buy you good experiences, buy you better ideas, buy you better experiences, buy you more time, save your life. Financial wealth is a side effect of the “runner’s high” of your idea muscle. Every day I write down ideas. I write down so many ideas that it hurts my head to come up with one more. Then I try to write down five more.The ‘daily ideas’ is exactly what it sounds like. Every day I choose a topic and try and come up with ten ideas. Most of them will be rubbish and most will never get used, but that’s OK. Coming up with daily ideas is something I’ve been trying since January with on and off success. I really need someone looking over my shoulder frowning if I miss a day. From today (27 June), I am giving that job to you, please tell me off if I get lazy! Apologies for any bad spelling or grammar, the focus has been on coming up with the ideas rather than presenting them well. Enjoy!:
I’m currently 28 years old, and want to financially retired before 35. What path should I set out with my current skill set? My back ground and skill sets: – Own and operate a small massage parlor. The business make about 70k profit. I take home about 40k a year. Rest goes to my parents. – Fluent with Chinese Mandarin and English in reading and speaking. – Some photography skill, and Sony Vegas editing skill. – Social media savy. I was a social media specialist at a reputable marketing firm for a year. – Pretty good with sales. While I was working at a major retail bank, I had most referral as a Teller for the entire California region. I also worked at a multi marketing company before, and had the most personal recruit in the entire company that consisted of tens of thousands of reps. What I lack: – College degree.You can check out my answer here. But I basically worked out he needed to earn an extra 40k a year after tax to retire in just seven years. Here are my 10 ideas on how he can do that: 1 – Work harder and longer at the massage parlour. See if you can double it’s income. 2- Focus on marketing the massage parlour. Come up with some creative/innovative marketing ideas: Like a great refer-friend deal, or a partnership with another company where you share customers. Perhaps see if you can get it in some local newspapers. 3 – Start using and selling your own branded massage products in the massage parlour. It should save you money on the products you’re currently buying in and earn you a bit extra selling them. I wrote a pretty detailed here on how to go about creating your own products. 4 – Negotiate with your family for a larger share of the massage parlour’s income. 5 – Start doing some freelance photography on the side. 6 – Start doing some freelance translation on the side. 7 – Get another part time job in sales. If it’s commission based then the harder you work the more you make – which is perfect as you have such a well defined goal to work towards. 8 – Pack in/outsource the massage parlour and apply for any job that will pay you 80k after tax. Doesn’t matter if you’re not qualified or don’t have a college degree – just apply for as many as possible that sound interesting and that you think you can do well and then convince them why they should make an exception for you. 9 – Work out how to get the massage parlour self-sufficient and still profitable. Get it to a position where you don’t need to be there for it to run safely and profitably. Even if it’s now only making 40k instead of 70k that’s a great result. Once it’s ready, go and set up another one on exactly the same model or franchise out your brand to other people who want to get in the massage business. Build yourself a massage parlour empire. 10 – The total savings needed are $500. Your business is probably worth $200k-$300k. If you can save 24k a year (and live off 16k) for the seven years you should have $200k invested. If you can sell the business for $300k you’re there.
1 – Dedicate half an hour today to study. Reading Jiu-Jitus University or watching tutorial videos. I can easily find this time by stopping reading the BJJ subreddit.
2 – Paying for an extra, one-to-one coaching session a week. 3 – Building a game plan and focusing on that. For instance pulling guard then working on transitioning from open-guard to closed guard or to triangle/armbar. Try and spend the next month specialising. 4 – Be the last person on the mat after each session. Keep training till no-one wants to train anymore. This should get at least an extra 25% rolling time from the standard training sessions. 5 – Email some interesting BJJ personalities/celebrities and ask for their advice. Talk about the blog/expert in a year and ask for their help. It’s a small enough world that they might be willing to. 6 – Work on some quick win – non-BJJ training. For instance work on increasing my flexibility or strength. BJJ has given me good cardio but in a 5-minute match that won’t be much use. Instead I could focus on some other physical traits I have been ignoring. 7 – Hound the coaches at each training session for advice and ‘quick wins’. 8 – Step up my training intensity. Instead of conserving energy to be able to roll every round, up the intensity to match level and sit out every other round. Go for submissions and use strength. 9 – Look to partner with people who will be at a similar weight to my opponents. Stay away from people who are much heavier or lighter than me. 10 – Improve my diet for the fortnight before the tournament. Go really clean, start juicing (fruit and veg juices – not steriods) and make a massive effort. It’s not something I can do indefinitely but a two-week stretch should be achievable.The financial game Half-Rekt (NME) is a very interesting study for anyone interested in arbitrage or front running in the…
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