April 26th, 2023
Something I’m Reading
I’m just finishing up The Wise Man’s Fear by Patrick Rothfuss. I’ve been reading this for what seems like forever because it’s so long and I’m a little sad it’s coming to an end because its so good!
Something I Photographed
My good friend Jeffrey Holst finally published his book called No Bad Days. It’s a great book on embracing a positive attitude and how to be happy.
Something I’m Excited About
Real estate investing in 2023 has been tough and I've been bombarded with questions about my thoughts on the market, strategies for investing in 2023 and more. So I'm excited to host a free webinar on May 8th to share 5 game-changing strategies to invest in real estate in an unstable market. I'll be sharing some insight on the current market and will interview 5 expert investors on unique strategies they have used in 2023 to thrive during this market. You can register for free here! Block this on your calendar so you don't miss it.
Something I Can Answer
I’ll be answering two questions asked by a BTB subscriber. Have a question you want me to answer? Reply to this text with your question!
Question: “How do you approach setting goals for yourself, and what steps do you take to ensure that you are making progress towards achieving them?”
I follow a practice that I've named, "Identity-Based Goal Setting." It looks like this:
1. Take an honest assessment of where I'm at with my life in all the different "life categories."
2. I define some big visions for my life based on the idea of "WHO" I want to become, rather than "WHAT." Example: I want to become a father who spends a lot of time with my kids.
3. Based on that identity vision, I set annual goals each year for the life categories I most want to improve.
4. I then set "SMARTER" goals each quarter that line up to the annual goal. (SMARTER: Specific, Measurable, Attainable, Relevant, Time-Bound, Exciting, Risky)
5. I then set 5-10 "Habits" or consistent actions that should lead me to hit my quarterly goal AND become more like the person I want to become like.
6. I track my habits and goal-progress each morning inside of a habit tracker. (This takes less than 5 minutes.)
7. Finally, I add in a significant level of accountability in a small accountability Pod.
That's pretty much it. That's also the framework for The BetterLife Tribe, which I launched back in January with over 1,000 members. It's been going SO FREAKING GOOD - and we're about ready to open the doors again for those interested. If you wanna make sure you hear about when we open it, you can join the waitlist here.
Question: “What is your approach to risk-taking?”
I don't like risk... but I recognize that it's imperative if you want an extraordinary life. So here's how I manage it:
I love taking "asymmetric bets." An asymmetric bet is when a risk is taken, but the upside is way higher than the downside, even though the odds of winning vs. failing might be more even. For example, hiring an employee might be a $20,000 or so risk (the cost of a few months of salary) but the upside could be millions of dollars in extra revenue because of them. So, if I failed 5 times in a row with hiring the right employee, and I lost $100,000...but the 6th employee helps me make $1,000,000... it was a HUGE win. That's an asymmetric bet - and I make them constantly. Another example: in real estate, the chance of me losing a lot of money on an investment is possible... BUT the chance of that investment being worth WAY more in 20 years is way higher. It's asymmetric.
So...in summary, I'm actually not a big "risk" guy. I don't gamble. I make bets that I know, over the long run, I'll come out way ahead.n(This is also why I don't like Casinos. Over the long run, the house always wins.)
Something I Recommend
Many of you know of my performance coach, Jason Drees. Jason has been my coach now for over 5 years and has helped me personally overcome some limiting beliefs, scale my business, and hit some crazy goals. He’s hosting a free workshop to help with goal setting and mindset growth. You can register for the workshop and learn more here.
For my health-conscious friends (or those trying to be healthier), I’ve been using MyBodyTutor for years for accountability on my fitness and diet. These guys assign you a coach to hold you accountable, track your food, suggest exercies etc. You can check them out here.
Disclosure: “Some of the links in this post are affiliate links, which means I may earn a commission if you click on the link and make a purchase. However, please note that all opinions expressed here are my own and I only recommend products or services that I have personally used and found valuable."
Your Friend,
P.S. Comment below and let me know your thoughts on this week’s BTB! Please be friendly :)