The Wisdom Wall
11 quotable lessons, heuristics and mental models. Every one is playable at the moment it was said. No fortune cookies allowed.
“the easiest way to focus for me Is to be sure, to be absolutely sure that whatever I'm doing at that very moment maximizes my profit for a minute. If I know that there's nothing else I can be doing to be making more money right this second, it's a lot easier for me to zero in and be like, all right, I'm knocking this…”
“you are never going to make More money than the guy next to you. If you read the same 20 business books and you do the same stuff that's in the business books as all of your competitors, right?”
“rich people multiply, but billionaires subtract, and it's all about taking things all the way down to only focusing on the one or two or three things that are the most important and driving the most productivity and the most money.”
“if you can just focus on the one or two products that are making all your money, and you think about all that time you put into the other products and invest that back into the one that's making money, that's when you start really making money.”
“So if you can be more productive than somebody else for a year, you might end up three years ahead of them, you know, as that compounds out over your first couple of years of, of business.”
“So there's certain things and it's like SEO on your website and YouTube. Are the two biggest things that pop out as kind of this evergreen content. And if you think about it as profit per minute, every minute you put into doing amazing YouTube content or amazing website content builds on itself and actually gets more…”
“the eighty-twenty principle will tell you that 20% of things drive 80% of your revenue, but also 20% of things will take only 20% of your overhead. So all that other stuff that's only delivering 20% of your revenue It's taken 80% of your overhead, 80% of your admin time, 80% of your mental headspace like you're talking…”
“you launch business fiction first, which is not very common, but is extremely, Effective. So you launch business fiction first to illustrate the model. Then you launch a nonfiction book second to explain all of it in greater detail. And then you launch a contrarian book third, a lead contrarian leadership book, which…”
“Usually, they're not making money on the actual book, but that'd be awesome if that guy is, but usually they're not making money on the book, they're making money on the second and tertiary offers, um, which is allowing them to drive more book sales, you know.”
“people don't pay for information. They pay for organization. You can put your entire book, every single word of your book times two on your website. Nobody's going to read every page of your website. But people are going to buy from you if they read something they like, or if they see something they like, hear…”
“Google could have done anything once they got the traffic, they could have turned into Yahoo with the crazy webpage and all this stuff, but they stuck with the simplicity. Drove traffic and then found ways to make money from the traffic coming in.”