February 22nd, 2023

Something I’m Reading

Currently reading "Good Inside: A Guide to Becoming the Parent You Want to Be" by Dr. Becky Kennedy.

I'm just a few chapters in, and I already have a ton of great insights into being a better parent.

Something I Teach

It’s All My Fault…

Today, I want to talk to you about a concept that can completely transform your life and your success.  It's called "Extreme Ownership," and it's something that former Navy SEAL, Jocko Willink talks about extensively (and wrote a book about.) Essentially, Extreme Ownership means taking complete responsibility for everything that happens in your life, good or bad. It means not blaming others or making excuses, but instead taking ownership of your situation and doing everything in your power to improve it.  EVEN when you had seemingly nothing to do with the outcome. 

Example:  I miss my flight because there was an accident on the road. The accident was not my fault, BUT when I lean into ‘Extreme Ownership” mentality, you realize that I left my home with *just* enough time to get to the airport before my flight. I didn't plan for unforeseen traffic or problems. So it's "my fault" for missing my flight, because I chose when I left. Next time, I'll plan for problems like that. 

You see, when you adopt this mindset, you become empowered to take control of your life and make positive changes. You stop waiting for things to happen to you and instead take action to make things happen. It's not always easy, but it's a mindset that can lead to incredible results in your personal and professional life. It has for mine.

Something I Photographed

Got to spend a few hours in the SeaShed playing music and getting songs ready for this weekend. I'll be helping to lead the music at Hope Chapel in Kihei on Friday night and Sunday morning.

Something I’m Excited About

Open Door Capital is already over 70% subscribed on Fund 8 - our latest Generational Wealth Fund. I’m hosting a live FAQ webinar today (Wednesday, Feb 22) at 8pm EST to answer all your questions about this investment opportunity. If you’re interested in investing or learning more, don’t miss this! You can register for the webinar here.

Something I Can Answer
Every week, I answer one question asked by a BTB subscriber. Have a question you want me to answer? Reply to this text with your question!

Question: “Once you have moved yourself from $10/hr tasks to $100/hr tasks, how strict are you with yourself to not get pulled back to $10/hr tasks?”

If you're not familiar with the concept, let me explain it: every task we do can be assigned a dollar per hour value. This is the amount you could pay someone else to do it for you. For instance, mowing the lawn could be valued at $20 per hour, doing the dishes at $10 per hour, and analyzing a rental property at $200 per hour. Although you might not get paid this amount, this is a useful way to evaluate how you're spending your time. If you want to increase your earnings, it's recommended that you focus on higher-dollar-per-hour tasks.

For example, let's say you need to fix your dishwasher, but you also need to send out direct mail letters to buy your next rental property. Which one of these tasks is more valuable? You need to weigh up the value of each task and prioritize accordingly.

In my case, I try to avoid tasks that I don't like or that are low value per hour. I don't mow my lawn, change my oil, or fix my dishwasher when it breaks. However, there are some tasks that I still do, such as $5, $10, or $20 tasks, either because I enjoy them, or because the effort required to delegate them is too high. For instance, I don't want someone else in my house after dinner doing my dishes.

The key for me is not to eliminate every low-value task, but rather to use this framework as a way to evaluate my daily actions continually. I aim to spend more time doing things that I both enjoy and that produce a high dollar per hour. The magic comes from asking myself the question every day, every hour, every task: "Is the task I'm doing right now the highest and best use of my time?" This helps me stay focused on tasks that add the most value and eliminate distractions.

Your Friend,

P.S. Comment below and let me know your thoughts on this week’s BTB! Please be friendly :)