News update: This week we received 45 applications for our most recent internship opportunity. As has been the standard so far, the submissions are very high quality. My commitment is to read every single word created and watch every moment of the videos. This will take me at least the weekend, my hope is I can start scheduling phone interviews next week.
TL:DR? – Having a little loot is sweet. But it doesn’t change how you feel about life and your projects. Save money, make value.
Most aspiring entrepreneurs are focused on making more money. A problem with that approach is that it leads to short term thinking.
We are big supporters of 5 year plans.
In general, I’ve found that when people focus less on money and more on the underlying value they are creating, they end up being happier and doing better. I know many people who “get paid too much to leave their jobs,” but their jobs don’t allow them to get good at creating wealth in the world. In the long run these people are probably (probably) losing money.
Most people that I know who are ruthlessly focused on money, at an emotional level everyday, can’t figure out how to get enough of it.
Not having money sucks. I get it. I spent years putting half-tanks of gas into my crappy car (which I had a loan on) with a credit card.
I divide my total liquid assets by 993's, always. Boys will be boys.
When I quit my day job, I was poorer than I was when I started my career. I used my big salary to get a lot of credit and act like an idiot.
Now that I’ve finally got my hands on some cash, I have experienced the most cliched reaction possible:
I feel the same.
With or without the money, I’d be focused on the same thing. Creating organizations that I believe are valuable.
It got me thinking. Most people believe it’s money that stands between them and living the life they want.
I don’t think that’s true.
People don’t live the lives they want because they prefer to be normal.
It’s tough to be weird. It can be exhausting.
One of the things I love about traveling around the world is seeing face to face so many different versions of what my life might have been. It frees me up to say “fuck it, I can do weird shit.”
Here’s one weird thing you can do to become an entrepreneur: you can reduce your living expenses to almost nothing.
You know a lot of people are talking about how “passionate” entrepreneurs are. I see that. I’m also seeing a lot of: crazy, obsessed, addicted, singular, focused, lucky. Sounds like a party right?
That kind of drive was more interesting to me than making money.
I took Dave Ramsey’s message to heart: I’d live like nobody else so I could live like nobody else.
It’s this type of thinking that lead me to drive a $350 car.
Here’s an email I sent to my Dad back in ’09:
I know a lot of people think this kind of thing is silly. My parents sure did.
I was sure the big ballers at my internet business mastermind group were going to think I was a loser. Turns out I talked with one very successful internet marketer about our crappy cars for a while! He hadn’t upgraded to something balla either.
That's Ian and my 350 buck car, you gotta better pic of this hoopie brotha?
Here’s the thing…
Being a successful business owner is not normal.
I know some really smart people who just want to make money to fit in with a certain crowd.
These are the kind of people that make the word “opportunity” sound dirty.
I’m sure this works for some people. It doesn’t work for me.
Assume you wouldn’t make any cash in the next 3 years, but you could eat, and sleep somewhere.
What could you build that others would find valuable?
Cheers,
Dan
PS, this post is pretty much summed up in this song….
PPS, and this better post by Paul Graham.
@TropicalMBA <— I love twitter, but I’m pretty sure I suck at it (not enough affiliate links!?)
I'm growing a start-up from my laptop while I explore the world. I help others to do the same.
I'm currently in Bali.
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