July 13th, 2022
Something I’m Reading
Still working through “The Terminal List” by Jack Carr. I want to finish this before watching the new show based on the book. If you read it or watched show yet, let me know your thoughts in the comments below!
Something I Teach
One of my favorite quotes comes from Elon Musk, when he said, “Stop being patient and start asking yourself, how do I accomplish my 10 years plan in 6 months?” I love this, because it forces your mindset to a higher level, helping you think laterally into ideas you never would have thought of. So I’d challenge you all on doing just this: what is your ten year goal? Let’s say it is $10,000 a month in passive income. Ok, how can you get that in 6 months? Now THAT is a fun question. It doesn’t mean you are going to do whatever you come up with, but I guarantee you- if you sat with a friend and brainstormed answers to that question for an hour or two, you’d get some really interesting ideas that could change how you grow your business or your portfolio.
Something I Photographed
Me, taking some random tourists’ photo in front of some Vegas casino. Little known fact about me: I love to do this. I volunteer myself all the time. 😂
Something I’m Excited About
Next weekend, I’ll be speaking and attending the Multifamily Investor Network Conference in Seattle put on by my friends at Disrupt Equity (the same guys who we are JVing on the upcoming Array Apartment offering with). Should be a good time. If you’re into multifamily real estate and wanna hang out, you should attend too! Check it out 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: “I’m an entrepreneur and want to make the jump from doing it all myself (and burning out) to being a true CEO and delegating. But I don’t earn/make enough to hire yet. Advice?”
When you don’t make enough to hire, you have a couple options. One, consider hiring non-vital work related stuff out first so you can maximize your time. Cleaning, cooking, lawn care, etc. A few hundred bucks a month to others to do this stuff can free up 5 to 20 hours a week of YOUR low-dollar-per-hour tasks. That should help you make thousands of more dollars because you’re focused on the higher dollar-per-hour tasks. With that new income, you should be able to hire, maybe part time at first. OR you can establish an internship that pays little-to-nothing, or an apprenticeship or even just JV with someone, paying them with equity or a piece of the deal. Hope that helps!
Your Friend,
P.S. Comment below and let me know your thoughts on this week’s BTB! Please be friendly :)