WEBVTT 1 00:00:00.000 --> 00:00:10.000 You have to prioritize being rich, which means spending less, because you were not valuing the opinion of other people over your own, which because you respect your own approval more than that of other people. 2 00:00:10.000 --> 00:00:14.000 You have to be willing to die to the opinion of others rather than dying to the opinion of yourself. 3 00:00:15.000 --> 00:00:22.000 Welcome to the game where we talk about how to get more customers, how to make more progress, how to keep them longer, and the many failures and lessons we have learned along the way. 4 00:00:22.000 --> 00:00:24.000 I hope you enjoy and subscribe. 5 00:00:25.000 --> 00:00:38.000 I'm going to talk to you about the 28 ways to stay poor, and the reason I'm framing it that way is because Charlie Munger, my personal hero, had a seminal talk that he gave multiple times on how to live a miserable life. 6 00:00:38.000 --> 00:00:45.000 And the reason he gives it that way is that he believes in a process called inversion thinking, which is where you solve problems in reverse. 7 00:00:45.000 --> 00:00:52.000 So for example, if you want to have a good marriage, rather than asking a question, how do I have a good marriage, you ask the question, how would it destroy my marriage? 8 00:00:52.000 --> 00:00:56.000 And then you list out all the ways to destroy your marriage and then you do the exact opposite of that. 9 00:00:56.000 --> 00:01:00.000 And what's interesting is that our brains are much better at finding problems than they are finding solutions. 10 00:01:00.000 --> 00:01:14.000 And so what we do is we harness this innate ability that we have to find the problems and then after finding every possible problem we can imagine, every threat imaginable, which evolutionarily we were designed to look for, then flip that in reverse to find our solutions. 11 00:01:14.000 --> 00:01:21.000 And this is a process of thinking that I've applied to business, I've applied it to marriage, I've applied to a lot of different aspects of my life, and I would encourage you to do it as well. 12 00:01:21.000 --> 00:01:23.000 I'll talk to you about the 28 ways to stay poor. 13 00:01:23.000 --> 00:01:29.000 Alright, and if you don't know who I am, my name's Oxamose, I own acquisition.com. It's a portfolio of companies that is over $100 million a year and I have nothing to sell you. 14 00:01:29.000 --> 00:01:34.000 I make these videos because I have a lot of fun doing it, and I hope you enjoy them as much as I enjoy making them for you. 15 00:01:34.000 --> 00:01:38.000 Alright, so the first and best way to stay poor is to start tomorrow. 16 00:01:38.000 --> 00:01:45.000 So whatever it is that you want to do, whether it's losing weight, saving money, starting that business, whatever it is, is to start tomorrow. 17 00:01:45.000 --> 00:01:49.000 Alright, so that's the best thing you can do to stay poor is to start tomorrow. 18 00:01:49.000 --> 00:01:53.000 Okay, the next one is to read lots of books and then do nothing. 19 00:01:53.000 --> 00:01:59.000 Alright, because it's one of the, you know, lots of people talk about reading books, and I see people all the time that I've seen for years in the exact same position, posting every, 20 00:01:59.000 --> 00:02:07.000 oh yeah, I'm reading 52 books this year. That's one of the commitment. Instead of reading 52 books, maybe just read one book and actually do something about it. 21 00:02:07.000 --> 00:02:08.000 Crazy, I know. 22 00:02:08.000 --> 00:02:14.000 Number three, take advice from poor people on how to be rich. Alright, so think about that for a second. 23 00:02:14.000 --> 00:02:20.000 A lot of us surround ourselves, or at least I did when I was starting out, surround ourselves with people who are very poor. 24 00:02:20.000 --> 00:02:25.000 And we listen to their advice on how to be rich and they have no idea what they are doing. 25 00:02:25.000 --> 00:02:31.000 And we also listen to their judgment on why our idea is stupid, even though they are poor. 26 00:02:31.000 --> 00:02:35.000 So what would they know? Right? So number three, take advice from poor people on how to be rich. 27 00:02:35.000 --> 00:02:41.000 Number four, this is a big one. Pick a spouse who will make you feel guilty for working. 28 00:02:41.000 --> 00:02:44.000 Alright, so you have your dreams, you have these things you want to pursue. 29 00:02:44.000 --> 00:02:49.000 But this person is saying you shouldn't do that. You need to be doing x, y, and z, blah blah blah blah. 30 00:02:49.000 --> 00:02:52.000 And then you feel like you need to compromise your dreams with that person. 31 00:02:52.000 --> 00:02:58.000 The problem is that you put your power of your destiny in their hands and you're asking for permission instead of support. 32 00:02:58.000 --> 00:03:04.000 Right? Because the end of the day, if you don't accomplish your dreams and you did it because of them, who do you think you're going to resent? 33 00:03:04.000 --> 00:03:12.000 Right? So you owe to yourself and you owe to your marriage to a pick people who are going to support you in your dreams, even if they don't necessarily agree. 34 00:03:12.000 --> 00:03:15.000 But more easily, not put your power on somebody else. 35 00:03:15.000 --> 00:03:19.000 Number five, fail once, quit forever. Alright? 36 00:03:19.000 --> 00:03:25.000 So as soon as you do actually start to decide doing something, you fail immediately and say, oh, I guess this isn't for me. 37 00:03:25.000 --> 00:03:28.000 I guess success isn't for me. I guess business isn't for me. I guess sales isn't for me. 38 00:03:28.000 --> 00:03:31.000 I guess whatever the thing is isn't for me because you failed once. 39 00:03:31.000 --> 00:03:34.000 But it's because we have an, we have an incorrect view of failure. Right? 40 00:03:34.000 --> 00:03:38.000 Because failure is a necessary part and the things as you learn from failure. 41 00:03:38.000 --> 00:03:44.000 And so it's either you win or you learn, right? But that is the fifth thing you want to do if you want to stay poor forever. 42 00:03:44.000 --> 00:03:49.000 Number six is think that the world is fair. So a lot of us, especially me earlier on, like, I would complain. 43 00:03:49.000 --> 00:03:52.000 I'd be like, that's not fair. This is fair. It shouldn't be this way. 44 00:03:52.000 --> 00:03:59.000 Blah blah blah blah. And the thing is, is that all that complaining that I did did nothing at all whatsoever did nothing. 45 00:03:59.000 --> 00:04:07.000 And so the thing is, is there's no activity that comes from blaming your circumstances, which just so happens to be the seventh one of how does they 46 00:04:07.000 --> 00:04:13.000 put was blame your circumstances and complain, all right? Complaining about things that you cannot control. 47 00:04:13.000 --> 00:04:18.000 And the thing is, is like, these sound so obvious, but think about these in reverse again. 48 00:04:18.000 --> 00:04:25.000 So if the, if the contrary of thinking the world is fair is assume the world is unfair and then act accordingly. 49 00:04:25.000 --> 00:04:31.000 Instead of blaming your circumstances, you think your circumstances for who you are and what they gave you, right? 50 00:04:31.000 --> 00:04:36.000 You are who you are because of the shit you have gone through, right? There's a, there's a saying your message, your message. 51 00:04:36.000 --> 00:04:43.000 And I think it's a very, it's a very beautiful saying because how sad would it be to wish to have a life of ease and comfort? 52 00:04:43.000 --> 00:04:53.000 Because strong character is built through hard times. And so if we want to have strong character, we basically must have a hard life for periods of time or for seasons. 53 00:04:53.000 --> 00:05:00.000 And so we can't lament the thing that creates the outcome. You can't lament the heat and the beating of the hammer to strengthen the steel, right? 54 00:05:00.000 --> 00:05:08.000 They go hand in hand. And so we just have to accept them for what they are. And as for complaining, I think you can just accept and move on, right? 55 00:05:08.000 --> 00:05:15.000 So number nine, I covered three there. Number nine, expect the government to save you, all right? That's a great way to stay poor. 56 00:05:15.000 --> 00:05:21.000 We expect the government to save you or even say expect other people to save you. And the reality is no one's going to save you except for you. 57 00:05:21.000 --> 00:05:28.000 And a lot of times many people have spent their entire lives waiting around for someone to save them and still stayed poor. 58 00:05:28.000 --> 00:05:34.000 Number 10, value the opinion of others over your own. It's an excellent way to stay poor, right? 59 00:05:34.000 --> 00:05:46.000 You think everyone else's opinions matter more than yours. And I'll give you a secret that it took me, you know, making a lot of money to then realize, which is you were successful the moment you say you are crazy, right? 60 00:05:46.000 --> 00:05:56.000 Like you are successful, the moment that you decide you are successful. There are people who are billionaires, you don't feel like they're successful and there are people who have almost a money and absolutely think that they're an amazing success. 61 00:05:56.000 --> 00:06:09.000 And the thing is that they are both right. It's our choice, right? And I can promise you that if you try and give yourself a number, you will just move the goal post. I promise you that from the depth of my soul, you will move the number and make something else the new goal. 62 00:06:09.000 --> 00:06:23.000 And once that, once I am rich, then whatever, right? But it's a when then fallacy. It doesn't, it's not true. So you can accept and you can become successful today because if you look at yourself compared to people in a much worse off scenario, they would love to have your life. 63 00:06:23.000 --> 00:06:32.000 And so you just need to decide for yourself if you are successful. But the thing is the success is a process rather than an outcome. And so you can be successful in that you are living your values of pursuit. 64 00:06:32.000 --> 00:06:42.000 That can mean success if you choose to define that way. So number 11 way to stay poor, avoid discomfort, right? 65 00:06:42.000 --> 00:06:54.000 A lot of us, you know, we have new things, you have to take risks, you have to learn things and it's uncomfortable because you will suck, right? Of course you will suck. It's normal to suck. But people avoid discomfort because they don't want to go through that. And it's so silly. 66 00:06:54.000 --> 00:07:01.000 The discomfort that they're feeling is the judgment they impose upon themselves about not being good at something they'd never done before. How insane is that? 67 00:07:01.000 --> 00:07:12.000 Barry, and that's why humans aren't also kind of insane. When you think about the things that we do and the things that we think, right? And so great way to stay poor is to avoid discomfort of all kinds, right? 68 00:07:12.000 --> 00:07:16.000 You also guarantee the number one discomfort, which is that you don't accomplish what you want in your life. 69 00:07:16.000 --> 00:07:31.000 12, how to stay poor, tolerate mediocrity from yourself and others. All right. So as you start to grow, if you're growing, you know, a small business or even in the workplace, if you tolerate mediocrity from others, you will be get more mediocrity. 70 00:07:31.000 --> 00:07:41.000 And people over time will just degrade and get worse and worse over time, rather than the reverse of that, of thinking like, I will only tolerate excellence. And anything below that is intolerable. 71 00:07:41.000 --> 00:07:49.000 If you think about the best leaders and the best CEOs and the most successful people of all time, they have this innate trait, right? For lack of literature, they're ballbusters, right? 72 00:07:49.000 --> 00:08:01.000 They hold a standard that, and here's the catch that they themselves stay above, which means you must raise your own standards so that you can model what it looks like for other people around you to hold themselves, right? 73 00:08:01.000 --> 00:08:08.000 The best, like most people don't need to be led, most people need a model. And they can see that, right? And you're, you're leading by example. 74 00:08:08.000 --> 00:08:18.000 And so best thing to do is say, poor, tolerate mediocrity from yourself and others. 13, how to stay poor, make promises, break promises. 75 00:08:18.000 --> 00:08:25.000 So you make promises to yourself, make promises to other people, and you destroy your reputation with other people. And that's a terrible thing. And it takes a long time to fix that. 76 00:08:25.000 --> 00:08:31.000 But the one that's the hardest one to fix is the reputation you have with yourself, right? You make promises to yourself and you break promises to yourself. 77 00:08:31.000 --> 00:08:39.000 Because the thing is that you were the only one who's holding you accountable. And I think a different version of happiness, in my opinion, is respect for oneself. 78 00:08:39.000 --> 00:08:46.000 And I think your own respect is the hardest to earn because you know how hard you could have pushed. You know if you could have gone for an extra mile. 79 00:08:46.000 --> 00:08:51.000 You could have showed up to the gym more times. You could have eaten better. You could have made more cold calls. You could have done more reachouts. 80 00:08:51.000 --> 00:08:58.000 You could have made more content. You could have actually left a nice note for somebody on your team when you were too tired to do so. 81 00:08:58.000 --> 00:09:04.000 You could have over delivered on the product. You could have made a better version of that video and you decided to put it up anyways, even though you knew it wasn't as good as it could have been. 82 00:09:05.000 --> 00:09:10.000 And so you make promises to yourself and then you break promises to yourself and you lose respect in the process. 83 00:09:10.000 --> 00:09:12.000 It's an excellent way to stay poor. 84 00:09:12.000 --> 00:09:19.000 Number 14, wait for perfect conditions. This is a great one. Great way to stay poor is one of my favorites. 85 00:09:19.000 --> 00:09:24.000 You've got to wait for everything to be perfectly aligned for you to be successful. And here's the secret. 86 00:09:24.000 --> 00:09:27.000 There are never going to be perfect conditions. 87 00:09:27.000 --> 00:09:34.000 And here's what's even crazier. If you need perfect conditions to be successful, the moment the conditions change, you will stop being successful. 88 00:09:34.000 --> 00:09:39.000 So you might as well start when the conditions are absolutely worst because it means that they will only get better from there. 89 00:09:39.000 --> 00:09:48.000 And if you can prove success when things get bad, when they get bad again, which is guaranteed, you will still remain successful because you have learned how to do it in this time. 90 00:09:48.000 --> 00:09:51.000 In this circumstance makes sense. 91 00:09:51.000 --> 00:09:55.000 Great reason to not wait for perfect conditions. 92 00:09:55.000 --> 00:10:02.000 15, prioritize looking rich over being rich. This is a classic one of poor folks in general, right? 93 00:10:02.000 --> 00:10:09.000 I get the the loving amount of troll comments that I get from the fact that I'm in my mom's basement and wearing a wife beater and wearing a no strip, right? 94 00:10:09.000 --> 00:10:15.000 Must mean that I am poor. Of course, right? Because you confuse looking rich with being rich, right? Just silly. 95 00:10:15.000 --> 00:10:22.000 Just Google my name and just put private equity at gym launch and American Pacific group and you can see what we sold to our businesses for. 96 00:10:22.000 --> 00:10:37.000 All right. So the point is the point is you have to prioritize being rich, which means spending less for a long period of time because you were not valuing the opinion of other people over your own, which because you respect your own approval more than that of other people. 97 00:10:37.000 --> 00:10:41.000 You have to be willing to die to the opinion of others rather than dying to the opinion of yourself. 98 00:10:41.000 --> 00:10:47.000 And I mean that. It's real shit. Stop trying to look rich. Be willing to look poor. 99 00:10:47.000 --> 00:10:55.000 All right. I know that's contrary to like dress the part and all that stuff, but like the thing is is like, you've got to be real to you or you'll be real to no one. 100 00:10:55.000 --> 00:10:58.000 That's a promise. All right. 101 00:10:58.000 --> 00:11:06.000 Number 16, avoid working on what matters most. All right. This is a great way to stay poor is that you work all day long. You're busy. 102 00:11:06.000 --> 00:11:14.000 You're full of activity. You're doing stuff and nothing important moves forward because the nature of speed is not about activity. 103 00:11:14.000 --> 00:11:24.000 The people who are the rich is the world aren't doing the most stuff. Right. They're doing the right stuff. Right. They're making sure better stated, making sure the right stuff gets done in general, whether or not it's them or someone else. 104 00:11:24.000 --> 00:11:36.000 All right. And so it's looking at the many things that you can work could do and picking the very few that are the ones that move the needle the most and typically they're the ones that you do not want to do and you are procrastinating on. 105 00:11:36.000 --> 00:11:44.000 And you can probably eliminate all the stuff that give you the mental masturbation of getting stuff done without actually moving the ball forward towards your goals. 106 00:11:44.000 --> 00:11:52.000 So it's a great way to stay poor is just keep doing stuff that does not matter. 17, say you're going to do something and then don't do it. 107 00:11:52.000 --> 00:12:00.000 This is just like making a breaking promises to others and self, but this one is actually just like that. So take that 18. 108 00:12:00.000 --> 00:12:08.000 This is a really good one. Great way to stay poor is do what everyone else is doing. Right. Because if you're doing what everyone else is doing, most people are not in the 1%. 109 00:12:08.000 --> 00:12:20.000 If you want to be in the 1%, you can't do with 99% of people are doing, which is hard for people, which is why you can't value their opinions because again talking to poor people about how to get rich is a great way to stay poor. Right. 110 00:12:20.000 --> 00:12:32.000 They have no idea. And so you can't look for their approval on what you are doing or model what everyone else is doing because everyone else is poor. Why model them? 111 00:12:32.000 --> 00:12:41.000 Real quick guys, you guys already know that I don't run any ads on this and I don't sell anything. And so the only ask that I can ever have are you guys that you help me spread the words we cannot more entrepreneurs. 112 00:12:41.000 --> 00:12:47.000 Make more money, feed their families, make better products and have better experiences for their employees and customers. 113 00:12:47.000 --> 00:13:00.000 And the only way we do that is if you can rate and review and share this podcast. So the single thing that I have to do is you can just leave a review, take 10 seconds or one type of the thug that it means the absolute will to me. And more importantly, it may change the world or someone else. 114 00:13:00.000 --> 00:13:11.000 Right. Think about number 19, do your best, not what it takes because the round is a lot of times your best makes suck. 115 00:13:11.000 --> 00:13:22.000 And what is required is what is required and that may be beyond you, which means you must become better so that your best is beyond what is required because the number of people who say, well, I tried my best. 116 00:13:23.000 --> 00:13:32.000 Universe doesn't give a shit. The marketplace doesn't give a shit. Your boss doesn't give a shit. What they care about is what is required. And so what you have to do is figure out what is required. 117 00:13:32.000 --> 00:13:45.000 And then if you are incapable of doing it, be better and do it for long enough that it would be unreasonable for you not to be good. And then your best will surpass what is required and you will become better in the process. 118 00:13:45.000 --> 00:14:03.000 But if you don't do that, it's an excellent way to stay poor. It's just keep doing your best and giving yourself a pal that I can say, I tried 20 talk more do less post about your goals, post about your affirmations spend all day doing routines and stuff of getting prepared to work and actually do very little. 119 00:14:03.000 --> 00:14:12.000 Alright, it's a great way. This is one of the favorite ones, especially in the internet community, people love talking about how much they're working rather than actually getting shit done. 120 00:14:12.000 --> 00:14:23.000 So I would advise you to rather than spend all this time preparing to work and creating superstitions and routines around the things that you think you should do in order to maybe potentially get something done. 121 00:14:23.000 --> 00:14:27.000 Start with the doing because sometimes doing just needs done. 122 00:14:27.000 --> 00:14:34.000 21, start something new today, start something new tomorrow. Repeat great way to stay poor. 123 00:14:34.000 --> 00:14:43.000 Do stuff, try something, try something else, try something else, try something else, always leave half built bridges, right? You never complete anything you start. 124 00:14:43.000 --> 00:14:58.000 Just keep starting new things because it's exciting and it's new and you have what is called uninformed optimism because as soon as you jump into the new thing, you realize that it will take work and the things that were awesome about it also have downsides which is the work that is required to be good. 125 00:14:58.000 --> 00:15:06.000 And as soon as you realize that it's work, you go through the change cycle where you go uninformed optimism to informed pessimism. 126 00:15:06.000 --> 00:15:14.000 And then you go through the value of despair and this is where everyone then jumps to the next opportunity, right? And they just do this forever and they just never achieve what they want. 127 00:15:14.000 --> 00:15:22.000 So it's an excellent way to stay busy and poor, all right? Just keep trying new stuff and never see anything through, okay? 128 00:15:22.000 --> 00:15:33.000 Number 22, believe what other people think about you more than what you think about you, all right? It's a great way to stay poor. I think it's just it's easily stated there. So I'm not going to believe with the point. 129 00:15:33.000 --> 00:15:40.000 But that's what you need to do to stay poor. Just keep believing what everyone else thinks about you and not what you think about you. All right, excellent way to do it. 130 00:15:40.000 --> 00:15:49.000 Number 23, way to stay poor. Make a mistake, then wait, repeat the mistake, do it again and again and again. 131 00:15:49.000 --> 00:15:58.000 And you've probably seen people who stay stuck in their life like this, like they keep dating the same person, they keep making the same business mistake, they keep getting the same bad partnerships, whatever, right? 132 00:15:58.000 --> 00:16:05.000 Or they keep trying to do something that stopped working and they keep doing it over and over again because they think that for some reason that's going to work somehow. 133 00:16:05.000 --> 00:16:12.000 Or they just don't have the word with all to realize that they keep making the same mistake. And so if you keep doing the same stuff, you're going to keep getting the same outcomes, right? 134 00:16:12.000 --> 00:16:22.000 Like we kind of know this, but the thing is is that people still do it. That's like, well, whatever you're doing right now has gotten you to being poor. So don't do that, right? 135 00:16:22.000 --> 00:16:34.000 And when I say poor, poor can be whatever you want it to be. You could be a billionaire and be poor. It might be whatever whatever that amount is. It's not as much as you want it to be, right? Which of course gets into the deep things if like maybe you should decide not to want it to begin with and then whatever we won't get into that. 136 00:16:35.000 --> 00:16:48.000 Number 24, be replaceable. All right. This is a great way to stay poor because if I heard this from Nevada, I'll kind of like it a lot, which is if you can get a degree to do the job, you're never going to be on wealthy doing it because everyone can do it, right? 137 00:16:48.000 --> 00:17:03.000 And so you have to be able to learn things that other people can't do, right? And that they're in makes you irreplaceable or less replaceable, right? The very least less replaceable. You want to be replaceable by a marketplace of people lined up behind you ready to take your job and do it for less. 138 00:17:03.000 --> 00:17:21.000 All right, because they're also poor and they are willing to do it for less, which is a terrible way to do business. It's also an excellent way to stay poor though. Do whatever one else is doing, do it for less, unless you have an operational strategy, which is like Walmart and whatever. And that's probably not you right now. So number 25, way to stay poor. Find something that works. 139 00:17:21.000 --> 00:17:41.000 Dear God, find something that works and then stop doing it. Think about it. How many of you have needed to make money? Last minute, you had to pay payroll, you had to pay taxes, you had to some bill unexpected, you know, surgery, iPhone, whatever, right? Some bill comes up and you need to pay for it. And you find a way to make money because if you're watching this video, you're still alive, right? 140 00:17:41.000 --> 00:17:53.000 You found a way to, you found a way to pay for it. What did you do there when you needed to make money? You heard something messed up? You were willing to make money and you had the ability to make money when it was for someone else and not for yourself. Think about that. 141 00:17:54.000 --> 00:18:10.000 You had the ability, you knew what to do and you just chose not to do it. You stopped doing it as soon as you paid someone else's bills because you were willing to pay other people's bills and not your own. Interesting, which leads me to one of the most short tweets I had recently, which is most people know what to do to achieve their goals. Most people do know what to do. 142 00:18:11.000 --> 00:18:40.000 People are like, I don't know how to lose weight. I'm like, hey, you do stop. You can shouldn't move. You know how to do that. You want to make money? Start making calls, start reaching out to people, start promoting the thing that you were trying to sell. I mean, not complicated. I got this thing. Do you want to try it? No, cool. Talk to somebody else got this thing. You want to try it? No, cool. Call somebody else. It's not complex. It's not complicated. But people just don't do it. It's because they're not willing to do it. Right. And so, excellent thing to do. Find something that works. So a lot of you do know something that works and then stop doing it. 143 00:18:41.000 --> 00:18:57.000 Number 26, we're round enough. We've got two more higher dumb people. Excellent way to stay poor and have a bad business. Alright, really, really highly recommend it. It's also really good for if you have a job too. If you have the ability to hire people, hire dumb people. It's just, it's just a great way to make your life miserable. 144 00:18:57.760 --> 00:19:10.160 There's very few ways that are better than this one. Like if you just want to be surrounded by dumb people, just hire people, you know, I mean, just hire people don't ruin you. You know, I mean, and you'll, you'll feel good. But you'll be poor. And so don't do that. 145 00:19:11.160 --> 00:19:18.120 Number 27 is a huge one that I see all the time for staying poor. And it's a really good strategy. It might be one of the top ones on this list. 146 00:19:19.200 --> 00:19:29.160 Assume you are always right. How many people here, right? You're watching this. No, someone who always just think they're right. And they're not successful. 147 00:19:29.640 --> 00:19:40.560 They get advice from somebody who might be successful or more successful than them. And they're like, no, that's not going to work for X, Y and Z. Right. Because they assume they're always right. They know they assume they know everything. Well, if you know anything, then weren't you achieving what you want. 148 00:19:41.000 --> 00:19:53.160 Hmm. And I will tell you this from the people that I've met who have been far ahead of me, they have a voracious desire to learn and a voracious interest in learning from anyone and every single possible source they can. 149 00:19:53.480 --> 00:20:00.360 And those people have the humility to say that everyone knows something that they don't know. And so in that way, they can learn of them, which is, I think, an Emerson quote. 150 00:20:00.840 --> 00:20:11.480 If you cannot learn, then what's the point? Right. It's the same thing is as the saying, he who chooses not to read is no further ahead than the man who cannot read. 151 00:20:12.120 --> 00:20:22.360 Right. And so it's like the man who chooses not to learn from others is no dissimilar from the person who is disabled from learning from others. 152 00:20:22.840 --> 00:20:29.880 Right. So you give yourself zero advantages. Like, there's no way that you can learn from other people if you think you're always right. 153 00:20:30.120 --> 00:20:35.560 And I know this sounds fucking obvious, but a lot of you guys do this. Why? 154 00:20:36.440 --> 00:20:42.200 Like, you'd rather be right than be rich. And it's silly, but it's an excellent way to stay poor. So that's why it's number 27. 155 00:20:42.520 --> 00:20:50.280 And then the last one, and this is the simplest of the economics around it. I'm just going to drive this baby home is make money. Period. 156 00:20:50.840 --> 00:20:58.360 Spend more than you make. And the beautiful part about this is that it doesn't matter how much you make. If you spend more than it, you can be poor, which is why this is such a great one. 157 00:20:58.360 --> 00:21:09.240 It's a great way to stay poor. It doesn't matter how much you increase your income. Just spend more than you made. Right. Going to debt, adjust your lifestyle to your new income at all times or rather above your income. 158 00:21:09.560 --> 00:21:13.880 So that you can always stay poor no matter how much money you make. It's just an awesome way to stay poor. 159 00:21:14.600 --> 00:21:23.320 So I highly recommend doing that. And honestly, the more you can do it, the more you can outspend your income, the poor you will be. And so, again, highly recommend it. 160 00:21:23.480 --> 00:21:29.240 And it sounds silly, but you know, a few people like right now, I think it's like the bottom 50% America, like doesn't have any savings. 161 00:21:29.800 --> 00:21:36.040 And what's crazy is that like, you can control, like these things are controllable. Like you can always downgrade your lifestyle. 162 00:21:36.040 --> 00:21:41.080 But the thing is you care more about the opinions about this than you do with your own, right? You care more about looking more at them being rich, right? 163 00:21:41.240 --> 00:21:52.440 All these things. And that's why all of these things go together. And so to wrap this up, the reason that inversion thinking is so powerful is that we can use our brains to find threats more easily than we can find solutions. 164 00:21:52.440 --> 00:22:00.680 And so if we think about your business career or you think about your marriage or you think about your body or you think about whatever it is, your money goals, think about the ways to destroy it. 165 00:22:00.680 --> 00:22:07.320 I just gave you 28 different ways that you can be poor, right? When you reverse them and you make those the rules for living that you have, 166 00:22:07.800 --> 00:22:17.480 then what happens is you succeed by accident because you avoid the pitfalls. Because the thing is, is if you don't make many mistakes, you succeed without trying. 167 00:22:17.480 --> 00:22:21.880 Because all you're doing is just focusing on just not making these stupid mistakes that most people do, right? 168 00:22:21.880 --> 00:22:26.280 If we were to reverse these, and this is what I'm going to hit this with hard, enjoy. We're hitting it right now. 169 00:22:27.000 --> 00:22:32.520 Start today. Read books. Do the stuff that's in the books. Take advice from rich people on how to be rich. 170 00:22:32.520 --> 00:22:40.840 Pick a spouse who makes you feel awesome about working. Fail once. Try again. Think the world is unfair and act accordingly. 171 00:22:40.840 --> 00:22:50.200 Never blame your circumstances. Thank your circumstance for making you who you are. Instead of complaining, do something. Expect no one to save you except for yourself. 172 00:22:50.200 --> 00:22:59.160 Value your opinion over those of other people. Seek out discomfort. Tolerate nothing but excellence. Make promises, keep promises. 173 00:22:59.160 --> 00:23:06.120 Wait for the worst conditions. Wait for imperfect conditions and act anyways on what you want, right? 174 00:23:06.120 --> 00:23:14.440 Avoid working on the stuff that doesn't matter. Work on the things that matter most. Ignore the rest. Say you're going to do something and then do it. 175 00:23:14.520 --> 00:23:24.840 Do what no one else is doing. Do your best and make it above what it takes to be successful. Talk less. Do more. 176 00:23:24.840 --> 00:23:32.520 Start something new today and keep at it until you are good. Do it so long that it would be unreasonable for you to be bad. 177 00:23:33.720 --> 00:23:41.880 Don't believe what other people think about you more than what you think about yourself. Be irreplaceable. Find something that works and don't stop doing it. 178 00:23:41.880 --> 00:23:47.640 Keep doing it until you're bored out of your mind because you're so good at doing that thing that worked, all right? 179 00:23:47.640 --> 00:23:56.280 Higher, smart people. Assume that you are always wrong and be willing to learn and make money and spend less than you make. 180 00:23:56.280 --> 00:24:00.920 And that is the 28 rules of poverty flipped on its head and you can make your own conclusions about where that will take you. 181 00:24:00.920 --> 00:24:04.120 I love you most in Asian keeping awesome and I'll see you guys in the next video. Bye!