Friday, July 29, 2016

How Can I Be As Unhappy As Possible?

I was happy when I sold my first company and made money. I was happy when I met my first wife.

I loved her and on that first kiss I remember how much she was shaking because she was nervous and so was I.

She wouldn’t kiss me until date 5. “Too fast,” she said. When I made my move on date 3.

But I was unhappy when I lost all the money I made on the first company. I was unhappy when I got separated, ten years after that first kiss.

Tom Shadyac, the director of billions of dollars worth of movies, had a bike accident and injured his brain. His head hurt him so much for a year he could barely move.

When he started to get active again, he gave away most of his money and moved into a trailer park (albeit a nice one…but still).

I called him up to ask him what happened. He was nice enough to tell me.

He said, “The word happy comes from the word ‘happenstance’. Which means ‘something outside of yourself’.”

He said, “I wanted my happiness to come from something inside of myself. Nothing outside was going to make me happy.”

It was around then I made some conscious decisions in my own life. I had been very unhappy. Unhappy to the point of suicide (I think I am second or third result on Google if you search “I want to die”).

Unhappy to the point of waking up every night at three in the morning and wandering the streets and writing on notes that I couldn’t read in the morning.

Unhappy to the point of wondering how was it even possible some people had enough muscles in their mouth to smile.

Mostly because I was always stressed about money. I thought if I had no money then I would disappear. And I was always anxious about people I was dealing with.

Why would they treat me this way? I’d run conversations over and over and over in my head. A horror cinema on repeat.

Some people are not such nice people but you feel you have to deal with them for various reasons. Maybe because of money reasons or maybe out of fear of some sort. Or maybe because you are a good person.

Focusing on life happiness is too hard. That is the key to unhappiness.

I just focus on “am I feeling well-being today?”

 

Competence

The more competent I am at the things I do, the better I feel about what I am doing here on this planet.

It doesn’t mean I have a purpose. My purpose can change every day.

I just want to get more competent at something. Anything. What my ‘purpose’ will be a month from now, a year from now, whenever, is a total mystery. There is no real purpose.

Competence simply means I am improving at something. Maybe being a better writer. Or businessperson. Or friend. Or idea person. Or parent. Or whatever.

Picture that for yourself right now. Doesn’t it feel a little good? Right in the chest.

 

Relationships

I had a girlfriend once who kept saying, “How come you never introduce me to your friends!” And I would try to say, “But I did!”

I don’t have many friends. But that’s OK. The people I am friends with I am very good friends with. I’d do anything for them.

And I do things for them every day. I am constantly trying to think of how to improve my relationships with the people I love (friends, children, even business relationships).

And although I don’t want to be selfish, I also have to make sure I spend more time with people I love, than people who are not so good for me.

One time someone said to me, “I have all these great ideas. But on Friday night I hang out with my friends and they laugh at me.”

I said, “Stay home on Friday night.” I never heard from him again.

This is perhaps the most important thing in my life.

 

Freedom

People think money is freedom. This is not true. But it’s a cliche to say that.

Money is pretty good. But only if you use it very little (in my opinion – not necessarily anyone else’s).

Last April I threw out everything in my life except three outfits, a computer, an iPad, and a phone. And two bags to carry them in. I live in Airbnbs that are furnished.

I am living in one right now on Prince street. Stop by and say “hi.”

I am able to do this because I make money thanks to my competence and relationships, built up over 25 years. I work hard.

But in general I always kept my belongings to a minimum, except (looking back) when I was most unhappy.

This is what freedom is: throughout a day we get to make 1000s of choices.

The more choices I can make for myself, the more freedom I have.

The more choices other people make for me, the less freedom I have.

A corporation might make a choice for me. Or a government. Or a parent. Or a boss. Or a colleague. Or someone manipulating you. And so on.

Nobody is 100% free of outside choices. That’s impossible. I don’t look at what % I am at. I just look at direction.

Every day I want to make more choices for me, and follow less the choices of others.

If I’m not choosing myself than someone else is and the results won’t be good for me.


 

How do I make sure I am constantly able to improve competence, relationships, freedom:

Purpose is BS. Purpose is simply a byproduct of your own well-being.

But to make sure I am always moving forward in well-being I have to make sure I am physically healthy, surround myself with good, decent people, creative every day, grateful every day.

Bad things happen ALL of the time. The world is out of our control.

But I’ve slowly noticed that I bounce back faster. That failures become learning opportunities.

That people are basically damaged but good. That our lives are made up of stories and so creativity is the child of every moment. That a shaken kiss can sometimes melt into love.

 


Related post: The One Formula For Happiness Nobody Told Me

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How James Altucher and Ramit Sethi Helped Me Earn $50,000+ In The Past 40 Days

This is a true story.

I’ll tell you how I did it in a minute (and how you might be able to also).

But first, I want to talk about why this isn’t just some random success story that you read in Fortune magazine and then forget about. It comes from a real person who suffered a hell of a lot to get where he is today.

Let me explain.

Last July, I decided to join Ramit Sethi’s Zero to Launch and start an online business. I got all excited, spent $2,000 of my hard-earned money from my summer job, and then got to work.

It actually went pretty well at the beginning. Only later would I feel the stab to the heart that comes to so many entrepreneurs on their journey. But let’s stick with the honeymoon phase for now.

I launched into work and found a niche (helping introverted entrepreneurs improve their social skills) and started building my email list. All that good stuff.

Then I went back to college for my third year and got stuck. Really stuck. Torn-between-physics-homework-and-market-research-interviews-tearing-my-hair-out stuck.

I cheated on a bunch of physics assignments so I could have more time to work on my business.

I couldn’t take it anymore. I had to stop splitting my heart in two.

So I called up my mom and told her I was dropping out of school for the semester. I was all polite and explained my reasoning.

You would think I had thrown a boiling kettle of water over her head.

She started crying and yelling and told me that I was throwing my life away. That I was plunging a dagger into her heart. (Those were her actual words. I’m not dramatizing here.) She told me I had better stay in school or I was paying my cell phone bill and my own tuition.

All $56,000 a year worth.

So I wrote a plea for help in this Choose Yourself group, on the recommendation of my mentor and rock Joyce Akiko. And it sort of blew up.

(You can take a look:http://ift.tt/2aCCcRm)

Here’s what I wrote:

*begin post*

[URGENT: Need advice ASAP]

I feel like the life I knew is falling apart before my eyes and my next steps are critical. I would deeply appreciate guidance and support.

Here is what’s happening. I’m a twenty year old college student starting an online business, and last week I flew to New York City behind my parents’ backs for a business event (with my own money) and they found out and decided to withdraw all financial support. I called my mom to apologize and she exploded, telling me that starting a business was ruining my life and destroying my relationships.

She said she would rather I take a semester off than work on a business while she is paying for my school tuition. So I stayed up all night thinking and decided to take a semester off to pursue my business.

Then I called her today to tell her and she exploded in the other direction, telling me that if I drop out of school I will be putting a dagger into her heart. She tried to make me promise I will stay in school.

It looks like at this point she would let me stay in school and work on my business, but now I genuinely think the best thing might be to take off and work only on my business

I don’t want to give in to a compromise that isn’t in my best interests, but I also don’t want to tear my family apart.

How do I choose myself in this situation?

*end post*

I got a whole bunch of comments from people who saw me suffering and offered advice and compassion.

James actually recorded a podcast about my situation titled, “Should I drop out of college and pursue my passion?” 

I read all the comments and thought hard about what to do. I realized I couldn’t buy food next week if I dropped out.

So I stayed. I kept working on my business (not really getting anywhere) while trying to finish out school.

There were days where I laid on the floor and cried for six hours. This is not an exaggerated number.

When I told my friends what I was doing they would squint their eyes and say, “Huh.”

Not the kind of “Huh!” that comes when you drop a newborn puppy in front of them. The kind of “Huh.” that people say if you tell them, “My daughter just dropped out of high school to become a burlesque dancer!”

Huh.

I managed to pick myself up from the floor (quite literally) every day and finish out school. I somehow survived the torment of my parents criticizing my life choices through winter break.

Then I shipped off to Oxford University for 6 months.

Fancy, isn’t it? Except this isn’t a fancy story.

At Oxford I managed to skip all my physics classes and build my business instead. I got my first paying client. I hung out around 600 year old stone statues that constantly asked me, “Why aren’t you studying?”

I fell in love. That part was good.

And then I came home. And right when I came home, I launched a new business.

See, when I was in England I had taken a trip to Barcelona to a mastermind hosted by Navid Moazzez. There I realized that what I was doing was never going to help enough people or being me enough money to buy dinner each week.

So when I got home, I launched a business helping people do the one thing that I had actually done really well throughout this whole journey.

Not launch a successful online product. Not build an email list. Not get featured on the top blogs.

I wasn’t good at any of those things. I was pretty bad at them.

Instead, I helped people get their first client and start making enough money to buy dinner each week.

This was the one thing I had actually been able to do when my back was against the wall.

All of a sudden, my business exploded.

(I mean this in all its nuance. Yes it exploded in revenue, but it also sent chunks of flesh flying everywhere as I failed to control the growth without systems or staff.)

My friends wanted in. People who I described the business to in one sentence wanted in. People who I had never met reached out and asked to work with me.

I ran out of time to work with new clients. I currently have somewhere between 10 and 14 clients (I could go check right now but I’m too lazy) which is already more than I wanted.

Here’s the thing. I hadn’t actually done anything differently.

I hadn’t become amazing at sales overnight.

I hadn’t learned how to package my products like Steve Jobs.

I hadn’t matured into a maverick CEO in a matter of weeks.

I just changed strategies. Instead of investing my money into building online products, I started getting clients.

Simple.

My revenue grew. $1,000 per month. $3,000 per month. $7,000 per month. $11,000 per month.

Then last week I passed $50,000 in coaching packages sold.

Now, I’ve gotten good at selling. REALLY good. I’ve gotten good at coaching too. I’ve learned how to package my programs so that they sound like a million bucks.

But I’m still the same person that laid on the floor with tears streaming down his face eight months ago. I don’t have an email list. Or a website. I have one staff member, a lovely virtual assistant who helps me out for 10 hours a week at $17.50 per hour.

I still have credit card debt. About $15,000.

I just don’t care anymore. Because I made $18,000 this past Tuesday in one day.

Do I deserve it? I don’t know. I don’t know what it means to deserve something.

What I do know is that I struggled really fucking hard. And I failed. Miserably. And I cried. At times I thought about laying down on the nearby train tracks and just waiting for all the pain to go away in one fell swoop.

But I didn’t. Something inside me stayed alive, like that one piece of grass that sticks through the snow.

And eventually I struck gold. I found a niche that worked and developed a couple of skills that were halfway decent.

I still suck at a lot of things. But I’m really good at getting people their first clients. And I now know how to deal with myself when all I want to do is lay on the floor.

If there’s an overarching point I’m trying to make, it’s that there comes a time in everyone’s life where they need someone to drag them out of a dark valley by the teeth.

For me it was Joyce.

And you guys. Specifically:

Brenda Brewer Michele Lang Mike Grossman Jonathan Vaudreuil Josh Gauthier Ty Percy Mike White Patricia Bottino-Gibson Sharpie Sharp Renee Jolie-Pitt Eugene Kideuclidski Patti Laubaugh Katie Polk Lorie Rainbolt Pete Widin Ann Hoy Georgie-Ann Getton Maira Arnaudo Matt HearndenBarbara Cassidy Daniel Rugloski Nicholas Conneff Simon Matthews Pinky Jangra Gary Auerbach David R Fideler Liz Rolland Paul Wehage Craig Sunney Maggie McMahon Carroll Zariya Lufu

Your comments on that post changed my life.

(Here was my follow up post, in case you’re curious:http://ift.tt/2aCBQdB)

Who will it be for you?

You better have an answer. Because you might just feel that dagger to your heart sooner that you think.

Also, don’t lay on the floor when you’re sad. It’s really hard to get up.

Ramit just open Zero To Launch a couple days ago. I’m not an affiliate, just a guy who made some money using his material. Join if you want. Or not. I don’t care either way. I’m not even going to link it here.

Just don’t do anything you hate. Do what you love (or what will bring you love in the long term despite short term pain).

Anyway, I could go on but I’ve made my point.

Have someone to drag you out by the coattails when things get tough. Don’t do things you hate.

And above all, make sure you can buy dinner each week before you drop out of school to build a business.

If any of you guys want help landing your first clients, let me know. I probably won’t be able to work with you as a client because I’m running around like a headless chicken as it is, but I’ll gladly talk for 30-40 minutes and see if I can give you some advice. Or just chat about your business in general. I’m eager to give back after all you guys have done for me.

Leave me a comment if want to talk.

Otherwise, thanks for reading. Take care now friends.

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Thursday, July 28, 2016

10 Reasons Your Boss Hates You. And He/She Is Right.

I had a boss who would push his glasses down on his nose when I walked in and look at me above the glasses.

Like I was not worth focusing on. Like I was half a human.

He hated me.

Your boss hates you also.

HATES.

He takes your hard work and pretends, to his boss, that it’s his work, and uses that to get promotions, money, and love from his spouse and children.

He should love you. But he doesn’t. He hates you.

Why?

Good Work.

If you do good work, he’s afraid you will pass him. Or you won’t give him credit.

Or that someone else will steal you away. Like another company, or even worse, another department within the same company.

How many times has a boss said to you, “Don’t talk to them direct. Talk to me first.”

Many times.

Bad Work. 

If you do bad work, it’s all your fault. You’re fired

Paranoia.

He constantly thinks you are talking about him with other employees (he’s right).

So he tries to be your friend (he can’t) but you just pretend.

His Boss.

He hates his boss. Because his boss treats him like shit. And like a father who beats his son, the son will beat the grandson.

Stupidity.

You are smarter than him. He was hired a dozen or more years ago. So he doesn’t know the latest.

He depends on you for your knowledge but is afraid to admit it. So will act like he’s disciplining you in order to pretend to get information from you.

Humorless.

Walter Mondale, the former Vice-Presient of the United States, once said, “People stopped laughing at my jokes when I left office.”

That’s because bosses are not funny. But everyone has to laugh at their jokes.

Friendship.

You have more friends than him. Because, as the cliche goes, it’s lonely at the top.

The reason it’s lonely is because bosses are assholes.

Responsibilities.

He has a mortgage, more kids, and he’s sick. Because he’s older than you.

You have youth and vitality and freedom. He thought money and being a boss would buy him freedom but it’s actually you who has the freedom. He knows it but doesn’t want you to know it.

Sex.

You have sex more often than he has. I’m guessing on this. But I bet it’s true.

You Can Quit.

Quitting is freedom. And it’s easier for you to quit. Where else is he going to get a middle management job paying him $225,000 a year?

He scammed his way into that salary using old-school economics that are disappearing and he’s desperately trying to hold onto it.

But reality is setting in that his boss’s boss’s boss’s boss doesn’t need him anymore. He needs you for $45,000 a year.

MANAGEMENT.

He has to manage down AND manage up. You only have to avoid him in the hallway and in the bathroom.

You have POWER over him. Not the other way around.

You have the skills. That’s why you were hired. Because bosses are promoted to their level of incompetence.

If you have competence, you have control over your career and mission in life.
If you have a mission, you have freedom.
If you have friends, you have a good life.

His mission is to keep getting promoted before he’s fired. He has no friends and no other purpose anymore. He sacrificed purpose in exchange for fear.

And he’s promoted himself into his level of incompetence.

Say “no” to being a boss.

Say “no” enough (while you continue to build competence and a network) and eventually you will be your own boss. And that’s freedom.


Related Post: How To Quit Your Job the Right Way

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Wednesday, July 27, 2016

I Went to the Democratic National Convention…

In 1980.

It was in NYC. I was 12 years old. I begged my dad if I could go. I called up the Democratic party national offices and said I “represented kids”.

My dad simply dropped me off at Madison Square Garden. I had to find the guy who gave me a special pass.

I wandered around the floor. At the time I was collecting political buttons. For instance, I had an “Eisenhower/Nixon” button.

I had “Carter/Mondale” in various forms and would trade delegates for their buttons if they were unique.

I was thrown in with a room of volunteers. They were all bigger kids than me. Like any group of kids there was the cool kid that everyone followed. He asked me what I was doing there.

I said I wanted to be President. He laughed. Everyone laughed. I decided to leave the room and go back on the convention floor.

Ted Kennedy, just a few hours earlier that day gave up on his close run against Jimmy Carter in the primaries. He said in his speech, “The dream will live on”. He’s dead now.

I wanted to run into Jimmy Carter but I ran into his son Chip Carter instead. He shook my hand. I remember thinking, I’m shaking hands with the son of the President.

Before I went to the convention I read the book, “Convention” by Richard Reeves about the 1976 convention.

The only thing I remember from that book is that he mentioned how many school teachers had come up to the convention to make extra money being prostitutes for the weekend.

I kept expecting to run into my school teachers.

A few months later, Ronald Reagan won the Presidency. On the school bus, Steve made fun of me. “You’re a loser! I told you Carter would lose.”

Most of the delegates were older people. Older than 60. This was 36 years ago. Which means most of the delegates are now dead.

Reagan is dead. Carter is old and sick.

Nobody cares now.

Everyone today cares about Trump “building a wall”. Or Hillary “hiding emails”.

200 years ago Thomas Jefferson brutally raped slaves. 80 years ago, FDR turned away Jews who were trying to escape Germany and sent them back. We had a President with Alzheimers. We had a President who stuck a cigar in a young girl’s ****.

I was a lonely kid with no friends and bullies who would beat me. So I went to the Democratic National Convention. I felt important there.

None of it matters.

Today I signed up for DJ classes. They start on Saturday and run until September. By then I will be a DJ!

I’m going to change my life. I’m going to be a winner.


Related post: Pick Me For Vice-President. Here’s Why…

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Tuesday, July 26, 2016

Ep. 177 – Ramit Sethi: What Happens When You Make $50,000 In One Month?

I try noticing when I’m having a hard time. And if I want to ask why.

If I ask, “Why do I feel like this?” my thoughts seep further into my brain. And I can’t find them. “Where are you going? And why do I feel like this?”

But “why” isn’t the answer.

“You are not your feelings.” I’ve heard this before. It’s helpful to have a degree of separation.

Negative pressures take away momentum. It makes me lazy. And hungry.

I don’t think I’m ever really hungry. I’m just looking for a human excuse to get away from responsibility.

But sometimes you have to admit where you really are.

I don’t have advice for you. I have something better.

I have Ramit Sethi, author of the New York Times bestseller, “I Will Teach You to Be Rich” and owner of iwillteachyoutoberich.com and growthlab.com. He’s been on my podcast before. Every time he’s on, people want to know this one thing:

“HOW can I live a rich life?”

I told Ramit, “The person listening to this doesn’t want to hear that it’s possible to get rich. Because that’s what everybody says. I want to hear specific tactics.”

And he’s giving them all away. (Get a sneak peak here…)

“There’s story after story after story of people who have taken your courses and made money…” I said.

“Not just made money. Yes. Of course, they made money. That’s the least interesting part. A guy gets a $50,000 raise. That happens every day using my stuff.”

“Tell me a story of someone who’s made $50,000 in one month.” (Listen at [19:45])

I don’t believe 99% of the advice about entrepreneurship. Because that advice is what gets you out of your heart and into your head. It makes you lost. Because you try to sell out. You try to win. You try to get rich. And you stop giving.

So Ramit and I talked about a rich life. What is it?

We came up with this: I can’t tell you what a rich life is to you. I can only say what a rich life is to me.

My “rich” life consists of four things.

You just need to find what you’re OK at. Because if you are OK at one thing and OK at another thing then you can be the best in the world at the intersection.

But I’m getting ahead of myself. And that’s how people fail. They focus on the wrong things, get lost, give up and never start again.

They’re at negative zero.

Everyone wants to be at 100. But that’s impossible. And wanting to be anywhere other than where you are right now is painful.

Start by acknowledging where you are. And know that’s the only true thing about this moment.

Then you’re out of the negative. And you have a starting place: you’re at zero.

Zero is the best place to be. It’s where Mark Cuban, Arianna Huffington, every millionaire, billionaire, writer, rapper, author, athlete, and astronaut starts.

It’s where you’ll start, too. And you can start right now. Just follow these two steps:

  1. Acknowledge where you are
  2. Trust that it’s the start

And then you can launch a rich life. Whatever that means to you.
Listen to my interview with Ramit Sethi to stop asking “why” and start asking “how?”

Resource and Links:

What you’ll learn from today’s podcast:

  • [6:58] – Who should everyone be an entrepreneur?
  • [9:12] – How do you decide what a “rich” life is to you?
  • [19:43] – Make $50,000 in one month with a simple site
  • [25:03] – How to attract the right audience/customer
  • [34:00] – Get better than anyone else in your space
  • [43:30] – How to test your idea… before it “tanks”
  • [54:40] – Two marketing myths you need to know
  • [58:58] – If you want to quit your job (and start your own business)… do this step first

The post Ep. 177 – Ramit Sethi: What Happens When You Make $50,000 In One Month? appeared first on Altucher Confidential.



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Monday, July 25, 2016

50 Things I Pretend To Know Now That I Am Nearing 50

Every day I realize more how stupid I am. It’s OK to be stupid. But when I was 18 I thought I was a genius. Now I realize I’m an idiot.

Here are the other 50 or so things I realize as I get older. I list this just for me. Because my memory is getting worse every day so I might have to refer back to this list.

1) You only retain 1–2% of anything people teach you in a class or in books.

2) Experiences are more valuable than goods.

3) Who your spouse will be is the most important career decision you will ever make.

4) Three skills to money: Making it, Keeping it, Growing it. They are very different skills.

5) Having kids is horrible. But having kids is wonderful.

6) Sleeping eight hours a day is really important. Regardless of the scientific reason.

7) Eat smaller portions. Every year you live, reduce portion size. Else you get fat no matter how much you exercise.

8) Try really hard to not care what people think. This is too hard for me but I’m learning.

9) Business is about creating value. No value = no profits = no business. Don’t believe your own hype.

10) Google people before you meet them.

11) Ask questions at a rate of 10:1 of giving answers.

12) Pretend everyone is your child and he/she is about to die tomorrow. Then you will listen and be nice.

13) Anger is not a real emotion. It is fear clothed. Figure out what you are afraid of before you get angry.

14) Reinvent every five years or you’ll get bored.

15) Try to be creative once a day. Creativity is a muscle. There’s no such thing as inspiration.

16) Gratitude and complaining/blaming can’t exist in the same brain at the same time.

17) All diets are BS. Avoid processed sugars. Eat less.

18) When you read, you can absorb the entire life of another person in a few days. Might as well read a lot.

19) Happiness = Reality / Expectations

20) The 5/25 rule. List the 25 things you want to do in life. Separate out the 5 most important from the other 20. NEVER look at the other 20 again. They are only distractions.

21) Napping is fun.

22) Sex is a painkiller.

23) War is never justified.

24) Ability is 99 parts skill, one part talent. Talent is the ignition and skill is the oil.

25) The only math you need is: add/divide/multiply in your head. And basic probability and statistics and percentages.

26) Watch a lot of comedy. Try to watch comedy every day. Laughter cures diseases.

27) If someone’s feet are angled away from you while they talking to you then they don’t want to talk to you.

28) Alexander the Great doesn’t care (right now) that Alexandria was named after him.

29) The Bible, The Bhavagad Gita, Buddha, The Koran, Star Wars, Harry Potter, Lord of the Rings, are all the same book.

30) If you are OK at one thing and OK at another thing then you can be the best in the world at the intersection.

31) When you write, pretend you are talking to someone bored and you are trying to keep them interested sentence by sentence.

32) When bored…do what you are most scared of or embarrassed by…in bed.

33) Insecurity is good. Confidence is porn.

34) This is a job: You create X in value: Your boss takes 10% of that. The company takes 10% of that. Taxes take 40% of what’s left. Housing takes 1/3 of what’s left. Eating, commuting, one vacation a year, clothes, takes almost all of what’s left. Which is why we most people have no savings.

35) Thomas Jefferson raped slaves but “Trump is Hitler” and “Hillary kills people.”

36) We don’t have any clue who the richest man in the world is right now.

37) Isaac Newton created Calculus. But also believed in Alchemy. You can’t be smart if you don’t do a lot of stupid things.

38) Richard Branson started Virgin Air by putting up a sign when his plane was cancelled, selling tickets. He used the money raised from the tickets to rent an airplane. You can start an airline like that also.

39) NYC had a huge environmental problem in the 1890s. The city was going to be buried by manure. No technology that existed could solve the problem. 20 years later cars solve the problem. Don’t try to solve every problem today.

40) Quantity is more important than quality. Quality is a byproduct of quantity. Picasso created 50,000 words of art.

41) The fewer things you own, the fewer things own you.

42) The more good things you do, the more people will hate you (but reverse not always true).

43) If you meet someone who you know hates you, shake their hand, smile, and pretend you don’t remember their name.

44) The prequels were not as bad as you think. Don’t be a generational elitist.

45) Nobody knows how World War I was started. Nobody remembers when Charlemagne was born. History books are just one slice of facts and we can only eat so much.

46) Opiniontainment.

47) Paleo people didn’t eat meat. They ate bone marrow, and only rarely.

48) Physics and most of biology are just opinions that will change every few years.

49) To make someone happy: tell them they can have what they want, tell them it’s not their fault they don’t have it, blame someone else, then you can persuade them of what you want (e.g. see “Trump”)

50) There is always the good reason and then there is the real reason (e.g. excuses a teenager will give you. excuses an employee will give you).

51) If someone can’t answer a question then they are lying (e.g, “where were you last night?” “I was out with friends” did not answer the question.)

52) 1% compounded every day is 3700% in a year. Figure out the 1% you want to improve on every day.

53) 42

Please add to the list…


Related post: The Ultimate Guide To Your 20s, 30s, 40s, And 50s

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Friday, July 22, 2016

I Failed at 1,001 Things. Here’s What Happened Next:

Every day for five years I wrote 3000 words a day and they all sucked. I wrote four novels and maybe 70 short stories.

I sent every novel to about 40 agents and all the publishers. I only got form letter rejections back.

Finally I gave up, left my job, moved cities, my girlfriend left me, and I moved back in with my parents.

I started a business in college called “CollegeCard.” It was a debt/discount card for college students. I convinced 70 businesses in town to accept the card.

The business failed. I tried to get the local regional bank to buy us. They said “no”.

So I went to graduate school. I failed all of my classes for three out of my first four semesters.

They asked me to leave until I was more “mature.” I have not yet gone back.

My first business after that succeeded. But then I lost all the money within two years.

People would say, “Hug your child. That always helps.” No it doesn’t.

My second business failed. I raised $30 million for it. We raised money from Yasser Arafat (I didn’t know it was him. He did it secretly), Henry Kravis, other billionaires.

We lost everyone all of their money.

The third business we raised $125 million for a venture capital fund. We put maybe $20 million to work and lost it. Then we gave the investors the rest of their money back.

I started a hedge fund. I had great returns. But I couldn’t raise a lot of money so it failed. I’m not good at asking people for money.

Then I started a business that didn’t need any money. It worked and I sold it but then lost all of that money (again).

So I started another business. We crowd-sourced ads. It was fun. But I got a divorce and that distracted me so it failed.

I started a dating site. 140love.com. A dating service based on Twitter. I raised $500,000. But on the day of the official launch I returned all the money. I don’t know why. I felt like it was going to fail and I woke up shaking that day.

I tried to do a deal once where someone wanted to sell $25 million worth of Twitter stock before it went public. I found a buyer. The deal was going to be be done within an hour and I would get a consulting fee. A big one.

It turned out to be a scam. Everything was fake. Forged stock certificates. A fake office. Even a fake Twitter was set up. The FBI investigated.

I was on the board of a company. They were doing a billion in legitimate revenues. But maybe (it’s still “alleged”) the largest stockholder was doing something bad. So the bank pulled the plug and we went out of business.

I’ve published 18 books. One of the books, “Choose Yourself” has sold more than the other 17 books combined….times five. So one out 18 worked.

When I was at HBO I shot a TV pilot. I was doing a web series for them for three years called “III:am” (3am). They gave me $30,000 to make an hour long pilot. They rejected it.

“For a show like this you need to show someone F-ing their mother or someone shooting their neighbors while naked,” the head of HBO Family told me.

I pitched another show to them: “Blind Date” where I secretly recorded people on a blind date. They rejected it. “It feels mean,” the head of HBO Family told me.

I pitched CNBC on several TV shows. They never responded.

I’ve been divorced twice. So I called Judy Blume and asked her if I was “tainted goods.”

She said, “I represent your entire childhood so listen to me. I am on my third marriage and we are going strong after 30 years. So third time’s a charm.”

I hope I believe her.

My sister and mother don’t speak to me. Most of my friends are fairly new. I’m not very good at keeping in touch with people although I want to be better at it. I like having friends.

A few months ago I threw out everything I ever owned. 48 years worth of stuff. I own nothing now.

I live in random places. I own the clothes I’m wearing.

I love my life.

 


Related post: Is Failure Good?

 

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Tuesday, July 19, 2016

Ep. 176 – John Wallace: The Power of Humility

He denied Bill Clinton’s phone call.

He just lost the NBA finals championship. “I was inconsolable,” John Wallace said on my podcast.

“I didn’t want to talk to anybody. I didn’t want to talk to Bill Clinton. I didn’t want to talk to my mom…”

“But doesn’t that make you a sore loser?”

“You show me someone who accepts losing and I’ll show you a loser,” he said quoting Cam Newton.


In the 90’s, I walked out of my job a loser. I didn’t stick with it. The stomach aches tasted like metal. I walked across the street. And played chess against a faceless man. I’ll never forget him.

I won that game.

That’s when I learned it’s ok to lose.

“What do you do?” Carpenter, author, server. “I’m in finance.” “I’m in fashion.” It’s the one question we ask in New York.

“What do you do?” I wander. I read. I spend time with people I love. I lost in the corporate world. But I’m winning at choosing myself.

“It’s one thing to give your time. It’s another thing to give your money. And it’s a-whole-nother thing to give both consistently. That’s what I’ve been trying to do,” John said about his philanthropy efforts. “Certain people won’t do business with you if you’re not giving back.”

I take care of myself everyday. Then I show up for other people.

I ask them questions. And find out what makes them work…how they grew, shrunk, and then exploded into excellence.

John said it best, “Humility turns to fire. And that fire turns to greatness.”

When I lost, I started over. Just like John.

And now, if the president calls, I’m ready.


Listen now to my interview with John Wallace to hear his “choose yourself” story : “From Carjacking to World Excellence.” Then I hope you share yours.

Email me at chooseyourselfstory@gmail.com

 

Join John in supporting these philanthropic efforts:

Also mentioned:

  • John’s go to instead of coffee: Juice Press
    • Our favorites: “citrus fire call” and “the love doctor”

 

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What I Wish Someone Had Told Me Before I Had Children

Having children is awful.

The first night I was the father of a child I left the hospital as soon as everyone was drugged up and I played poker all night at the Mayfair Club.

Ingrid, at the front door, refused to let me in until I insisted everyone was drugged and there was nothing else I could do.

And then I learned the horrible truths. The truths that if someone had only written on a bathroom wall I would’ve definitely had a vasectomy beforehand:

A) A 1 foot tall US citizen suddenly moves into your house and you are forced to deal with it. It’s like an invading army taking over your home.

B) This 1 foot tall US citizen doesn’t speak English and yet demands you understand it 24 hours a day.

C) This new roommate you are forced to tolerate cries all the time. Deal with it.

D) This new roommate that you are basically required to love shits on the floor or shits in their pants and expects you to clean it.

E) You are expected to feed your new roommate and they have less motor control then someone with no arms and no legs.

F) 24 hours a day, 7 days a week, you are required to make sure this 1 foot tall human doesn’t kill themselves by mistake. If they do, then you might go to jail.

G) You have to touch their dirty genitals when you clean them. Oh yeah, you have to clean them. A lot.

H) At night (if you are a man), they climb in bed with the love of your life and suck on their breasts. If they were a normal roommate you might kick them out of your house at that point. But now it’s against the law to do that.

I) You and your spouse have gone from being lovers to being “parents”. It’s the funnest thing in the world to be a lover. It’s so much fun that we spend almost every moment thinking and dreaming about loving. It’s not as fun to be a parent.

J) You have no idea if this 1 foot tall person will turn into someone you like or hate when they are five feet tall. It’s sort of random although you hope for the best.

I have two daughters. They are the loves of my life.


Related Post: I Want My Daughters To Be Lasbians

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Monday, July 18, 2016

Live Like You Just Escaped

I hated living with my parents. Disgusting. 90 minute commute to New York City. In my suit. My tie. My shoes. My laces.

“Tie your laces!” I don’t know how.

I was afraid all the time. Would I get fired? Would I have no friends? Would life suck forever?

Yes, it would.

So I moved.


14th and 7th

Elias said, “I hear you need a place to stay?”

We were at Washington Square Park. He was the best chess playing hustler in the park at the time. 1994. The Year of the Pig.

I said yes. I moved in that night. One room. He slept on couch I slept on futon. The shower was broken constantly running. No kitchen.

I paid $300 a month.

You like women, right? He said to me the first night.

Later, we would play chess every almost every night all night.

Every morning I pulled my only suit out of my garbage bag. I walked to work at HBO. Then I went back home and we’d play chess again.

One night he brought a girl home and took her in the bathroom while I pretended to sleep.

Another night he told me the girl next door, who was engaged to a banker, came over and asked for salt and he let her in and she left a few hours later….

For some reason this made me very upset and angry. Like one day this would happen to me (except I’d be the guy engaged to “that” girl).

One time he woke me up in the middle of the night and said I had to leave.

I was running a 102 fever. Can it wait until morning?

No, he said. I haven’t been paying rent so they are coming to kick us out in the morning.


Astoria

It was two empty rooms and I had a single futon on the floor and no other furniture.

The first night I woke up. Something was on me. A lot of things were on me.

I jumped up and turned on the light. Wall to wall were roaches.

I left and and spend the night in all-night strip club. In the morning my new landlord cleaned everything. I had bites all over me.

One time I wandered into a pool hall and bar on Steinway Street. It was all Greek people.

They were playing chess. I sat down and offered to play one of them. Then I said to them: line up all the boards and I’ll play you all simultaneously.

After that, we were friends for life and every night I spent the entire night playing with them while staring at all of the waitresses.

I’d write my phone number on two dollar bills I’d leave as tips for the waitresses. Nobody ever called me.

We played chess, backgammon, and drank strong coffee all night. In Greece there are three different rules for backgammon and we’d rotate through all three games.

At night I’d walk the streets with Nick, who had been diagnosed with Hepatitis C.

“I don’t know when I’m going to die,” he said. “But there is no cure. I don’t want to get into a relationship. Too much of a burden for her.”

We’d walk and talk for hours. I considered him my best friend. When I moved we never spoke again.


The Chelsea Hotel

I made $17,500 cash making website for a diamond wholesaler.

“Don’t tell anyone,” he told me, “or everyone on the street will be upset because I’m selling direct.” diamondcutters.com.

I took the cash to the Chelsea. Stanley Bard was the manager. The cash was in a paper bag and I just gave it to him.

“Are you a drug dealer?” he asked.

“I work at HBO,” I said.

“Can you get us cable here?”

“Sure.”

He gave me a room. I lived in ten different rooms at the Chelsea over the next many years.

One time I took the elevator up with Chubb Rock, the rapper. “HIs label is paying for him to stay here,” said Timor at the front desk. He filled up the entire elevator.

Another time I asked a guy on my floor “What’s the weirdest thing you’ve ever seen?”

He told me. “One time Stanley called a girl on this floor who owed rent. She said, ‘I’ll bring it right down’. She took a running jump and jumped out the window and landed in the middle of 23rd Street.”

“She was the last person in your room before you moved in there,” he said.

I didn’t move out of that room until four months after I get married. I loved the room.

I fell in love with three different women who lived in the Chelsea. Two of them are my Facebook friends now. Neither of them ever knew. Two Heathers and a Marta.

One time I didn’t stay there for five years. I showed up and Robert looked at me and said, “You again. You must be up to no good.”

The Chelsea was the only place I ever lived where I vacationed with the other people who lived and worked there.

We clung to each other like we were stuck on an island in the middle of a storm. I loved living there and history has eroded it.


Live in a hole. Live in a gutter. Live with roaches.

Live with a sense of, “I escaped!”

Live with alcoholics and scumbags and prostitutes and drug dealers. Live with unrequited love.

Explore where you live. You’ll never live there again.


Elias from 14th street gave up chess and NYC. He’s a fisherman in Rhode Island now.

And Heather from the Chelsea…one time we took a walk. She told me she had epilepsy. I thought that was beautiful.

Like her body had a secret. And she would desperately hold onto that secret. But sometimes it was too much for her, and her body would release that secret to the whole world.

I wanted to have a secret like that.


What a time!

I write this as if I have regret now. As if now I’m missing things.

I’m not.

I’m fucking killing it right now. Except…I don’t know… maybe not.

Related post: It’s Financial Suicide To Own A House

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Friday, July 15, 2016

I Have No Confidence… So This Is What I Do

I am nervous all the time. Going to a party, I always try to back out at last minute. Even a party I threw last year, I tried to not go and three people had to call me and convince me to come.

Business deal – I am scared right before every meeting and will probably skip.

I’ve even left in the middle of the meetings because I was too afraid to speak.

New friend for coffee? I will cancel at last minute. Agree to give a talk? I will back out. Going to a networking dinner? I won’t speak the entire time.

When I was in a summer camp as a kid, I never spoke. They thought something was mentally wrong with me. So I got to just hang out in the one room with a pool table all day and just shoot pool until the buses came.

My parents would say, “What is wrong with you?” But I didn’t have an answer. I’d lie in bed at night and be afraid of morning. I just wanted to sit. I just wanted to read. Or watch TV. Or watch a movie. Or play chess with my dad.

“These are not the droids you’re looking for.” I just wanted to be Obi-Wan. A hermit. Alone.

This is what I do now to “trick” myself into confidence. I hate “hacks” and “tricks”. But I need to survive also and feed people and make myself function.

So four things below are hacks and one is legit. They work for me but maybe won’t work for anyone else. I don’t care.

 

1) Mirror Neurons

Before a date, I watch stand-up comedy. Before a talk, I watch stand-up comedy. Sometimes I watch a Humphrey Bogart movie.

He’s confident in the way I want to be confident. He has what I call “ugly charisma.”

Nobody will deny Humphrey Bogart is charismatic. But he is ugly and can easily have fallen into fear rather than confidence.

I don’t consciously study what they do. Just like if I watch someone climb a ladder I won’t think, “OK, he put one foot up, then the other one, then he climbed.”

The brain has “mirror neurons.” You watch something, and you learn. That’s how humans adapt.

If I watch a YouTube clip of someone displaying amazing confidence in a difficult situation then it’s like a shot of crack cocaine. For the next 2 to 10 hours I’ll mimic that confidence, whether I realize it or not.

Selective YouTube = Crack Cocaine. That’s my code.

Try it. It works.

 

2) Surrender

When I go on TV to comment on some BS thing, they put you in this dark room. A camera is facing you. There’s a thing in your ear. They whisper, “move to the left a little.”

They say “45 seconds.”

Then you sit there and within two minutes, a few hundred thousand people might be looking at you. And I’m ugly. I don’t want them to look at me. So I start to get scared.

Will I forget what I wanted to say? Do I even know what I am talking about? (Answer almost always: “no”).

This is what I do: I surrender.

I say to myself: I have no agenda, I just want to help people. Please let me do or say whatever will help the most people.

Who I am asking this to? I have no idea. I’m not pretending to talk to anyone. I just say it.

It’s like I surrender. Whatever is going to happen will happen. But I trust that some other part of me will make sure the best thing happens.

Right before I kiss you, I surrender.

 

3) Beginner’s Mind

I ask questions.

Whenever I am on someone else’s podcast, I ask questions. If I learn one thing, then it’s a win for me.

Whenever I am meeting someone for the first time, I ask questions.

I am more confident asking questions and learning than I am answering them.

Because of the math: there are more questions than answers in the world. I think Godel proved that. I think someone did. A math person.

So it’s easier to come up with questions.

It’s easier to say, “I know nothing. I am confident knowing nothing. The world is mine to explore. So let’s begin now.”

And I am like Lawrence in the desert. It’s hot, it’s vast, it looks the same in every direction. I can take one step at a time, and move forward and eventually get to the other side.

I’m confident I can do that.

Plus…people want to talk to the person who wants to listen.

 

4) Experience

This is not a hack like the rest. But I’ve started 20 businesses and been involved in another 100, give or take. I’ve written 18 books.

I’ve given 100+ talks. I’ve been married twice. I have two children.

None of this means anything. But it gives me a lot of things to say.

If anyone wants to talk about these things, I draw upon my experience. I find the deepest pain or the deepest joy in any of these things and I start from that point.

I have confidence if I can say, “The worst part of X was Y, and then I did Z.” This is truth.

It might not help anyone. But I’m confident that was my deepest pain or deepest joy.

 

5) No Confidence is Confidence

Being simple. Confidence is often a flimsy ladder that we climb on but can easily break and we fall.

Better to have no confidence and just be honest and admit it.

Why have to figure out the world and carry knowledge of the world that is probably wrong, at the same time.

It’s too hard!

Try it and you will see you are bursting with confidence.

 

6) The Alien Trick

I wake up, I open my eyes. Who am I?

I pretend I am an alien from another dimension, another universe, another time. I ask: Who is this body? What am I supposed to do with it? What is my mission?

If this sounds stupid, you are right. I am stupid. But this works for me. I am a messenger from outer space and I have forgotten what I am supposed to deliver.

So I look for clues everywhere. And this gives me confidence. I’m the ambassador from my dimension. And nothing will get in my way. And I have only one day to accomplish my mission.

I am the most unconfident person in the world. I’ve hit bottom on money, marriage, misery. Triple M. Trifecta!

Through trial and error I do the above six. They work.

I’m writing a new book now. It’s about how I try to learn from everyone I meet.

With everyone I meet I try to find one takeaway. To learn one new thing that I can take into other areas of my life.

This is confidence also.

But ultimately I ask myself, why do I even need confidence? I’m here on this planet for a split second. And most of that time I am sleeping, excreting waste, eating, falling in and out love, and crying.

What more am I supposed to do?


Related post: The Only Rules You Need To Know

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Pick Me For Vice-President. Here’s Why:

In 2014, I was going to run for Congress. My assumption was that the congressman in my district was weak and would lose. He still might.

A major presidential candidate at the time contacted me. He wanted to endorse me. I’ve since met him. I met his pollster. I met the man working for his pollster.

That man wanted me to pay him a lot of money to “get the ball rolling.” They had to poll the district to see who knew me.

“Nobody knows me,” I said. “I haven’t even started.” But still…

In any case, I hired campaign people. I had issues. But I decided not to do it in the end.

I was watching “House of Cards.” It looked dangerous and I’m not ambitious enough.

Now that I’ve also watched the entire series of “Veep” I realize my lack of ambition is a good starting point to be a vice-president.

But, just in case, here’s my entire platform. And I’m not joking here.

Here’s the platform I would have in my back pocket just in case the President gets shot and killed and I move into the White House:

A) Solve state debt.

Force every state to sell their public colleges and highways and tunnels.

Why does the government need to own a college? It’s not like they are solving the student loan debt issue.

Student loan debt is getting higher every year and salaries for 22-35 year olds are getting less every year.

And highways? I don’t drive. Why should my taxes go towards a highway. Maybe it will be run more efficiently if run for a profit instead of paid for out of taxes.

And bridges and tunnels? We are at the bottom of the list in the developed world in terms of upkeep of bridges. You know what happens when a bridge collapses? People die.

A company that buys a bridge is going to upkeep it. A government that owns a bridge is going to pray it survives until the next election.

In any case, this would solve all state debt. BAM!

 

B) Solve federal debt.

US corporations are scared. Because they have $2.1 trillion in American dollars sitting in foreign banks that they’d like to take home. But they don’t want to be taxed. So they will leave those dollars there forever.

OK, no problem.

One time tax of 10% ($200,000,000,000). Bring it all home.

The US debt is $19 trillion.

How would this solve the debt?

There’s something called the “dollar multiplier.”

If you get 1 dollar, you use it to buy gas. The guy at the gas station uses it to buy a doughnut. The guy at the doughnut store buys a chair. The guy at the furniture store buys some drugs. The drug dealer buys a pillow.

And so on. Each dollar in the economy floats around about ten times.

So an extra $2 trillion in the economy could boost GDP an extra $20 trillion. Around the size of the US debt.

This still wouldn’t solve the debt issue.

But who cares. Interest rates right now are at about 1% that we pay on our debt. We would refinance everything, like you do with a house when interest rates get low.

And then with all this extra money floating around the economy, just taxing it would be enough to make our trivial interest payments and also reduce debt each year. BAM!

 

C) Congressman can’t leave their homes

We need Congress to vote on all sorts of BS issues. But if congressmen are NOT ALLOWED to leave their home districts, then how can lobbyists wine and dine 535 congressmen and senators?

They can’t.

So finally we’d have a congress that would vote their conscience (mostly) instead of the whims of lobbyists.

Just make Capitol Hill a tourist attraction. The entire point of Capitol Hill was that in the 1800s there was no way to communicate other than if everyone was in the same building.

Well, now we have something called the Internet.

 

D) All drugs are legal.

It costs $2 billion for a drug to get through the FDA. What if that drug cures cancer? It might take ten years. It might take infinity for that drug to get out there.

That’s not fair.

Just make all drugs legal. An entire industry of private FDAs would jump up to help us determine which drugs were good or not.

And it’s not like drug regulation has done us any good. A thousand or more APPROVED drugs are recalled by the FDA each year, invalidating millions of prescriptions.

And the 330,000 drug related prisoners cost the system $10,000,000,000 a year and that does not include drug-related murders, prostitution, and other criminal cases related to drug abuse.

It’s such a joke anyway. Cancer drugs are illegal. And the two drugs that cause the most cancers: alcohol and nicotine, are legal.

This would also solve most healthcare issues. If it doesn’t cost $2,000,000,000 to get a drug through the FDA then drugs will be cheaper.

 

E) Taxes.

Let’s be realistic: there’s 10,000,000 words in the federal tax code.

The more complex a system, the harder it is to enforce it.

So even though the average American has an effective tax rate near 25%, do you know what the average American actually pays in taxes?

10.1%

People don’t pay. People get weird deductions. People hide money, etc etc. And my guess is it’s probably less.

So let’s just do a flat tax of 10% (which should technically be no difference) and rewrite the entire tax code to be about ten pages long (uhh, “10% on all cash profits. 10% on all income”).

Everyone ranging from lower class to upper middle class would pay less in taxes. The super rich would pay more (they are the ones who bring the average down) and the US would raise more money.

 

G) No wars.

You know what was great about the United States and why we grew so big? Is because it’s impossible to touch us. We’re far away from everywhere.

Admittedly, the world is getting closer.

But it just never seems fair for people in their 50’s to vote that kids who are 18 can go to a war they don’t understand.

I still don’t know what World War I was about. Or Vietnam really. Or Iraq. So it seems like we’re mostly wrong on these things.

But I know this is a touchy issue. People like to go to war. And what if someone attacks us, etc.

OK.

You have to be age 30 or above to go to war. Then we’ll be a lot more selective about our military actions.


OK, so as Vice-President, I have a plan to get rid of state debt, federal debt, boost the economy, solve healthcare, make people healthier, less taxes, no wars, better decisions by Congress.

What else? Why should Trump or Clinton choose me?

I’m really good at breaking ties, which is the only real job for a Vice-President. I get to break ties in the Senate.

I have two daughters. I have to break really emotional ties all the time.

And I’d get the entire Bernie Sanders vote. How come? Because I’m Jewish and Bernie Sanders is Jewish and people are mostly stupid about this sort of thing.

So I’d be a good balance for the ticket. Oh, and I would be the first Vice-President to only live in Airbnbs. Which would be a fun reality show.

Nobody would be able to find me. I’d always be in an undisclosed location.

#VoteJamesForVP

Related Post: Is Donald Trump a Socialist?

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Thursday, July 14, 2016

I Read 1,000 Motivational Posts On Social Media. Here’s What Happened Next:

I’m sick of the phrase, “KILL IT!” Or “STOP WATCHING & START HUSTLING!” Or “TO WIN THE GAME YOU HAVE TO PLAY IT!”

I am sick of business inspirational slogans. They don’t work. They aren’t true.

I have lost all of my money listening to them. I bled out my mouth in the street trying to die because of them.

Oh man, I just read the comments underneath the slogans. The masses are fooled. “I want it!” or…”I want F U Money!” And on and on. Hundreds of comments.

Here’s another one, “Be happy, then your business will grow!”

Really?

I don’t know. Maybe all of the above is true. But I doubt it.

Truth: you have to be stupidly optimistic to win at business since most of the odds are against you.

But you can mitigate those odds.

First off: Don’t be an ‘Elon Musk.’ You aren’t sending a spaceship into the Sun. Or making a bracelet that will cure cancer.

Just stop it.

A friend of mine has a $100,000 and is thinking about how to “kill it!”

Here’s one idea. There are many ideas. I will describe the outline of the idea and then how to do it.

  • Find an undervalued business.
  • Check to see if the business is under performing.
  • Borrow money to buy it.
  • Turn the business around (since you’ve identified how it’s underperforming) and use new cash flows to borrow more money to start with the top and repeat (buy another underperforming business).
  • Keep building.
  • Sell the business.

That’s what she should do. That’s ‘killing it’. That’s how you get F-U money. It’s very hard but it’s also that simple.

A) Find an undervalued business.

A business is undervalued when the owners are dealing with Death, Disease, Divorce, or Debt.

For instance, if the owner died, the children will sell at a discount. If the owner just came down with cancer, he will sell at a discount. And so on.

By the way, this takes a lot of work to find an undervalued business.

B) Under performing.

This is very hard. Usually you have to have experience in the industry or a mentor.

Let’s say you want to buy a laundromat (a great, cash generating business, that can’t be outsourced to India).

Underperforming might mean: poor marketing, expensive outsourcing (for higher-end clothes that go to a laundromat), antiquated machines, unpredictable return times, no delivery, etc.

Read every laundromat magazine and interview 20 successful laundromat owners to learn the business. Or work at a laundromat for a year. This is called ‘killing it’.

This is ‘hustle’. This is the answer to ‘how bad do you want it?’

One friend of mine bought a chain of under performing pizza stores.

“The pizzas weren’t round,” he told me. “All I had to do was make round pizzas and deliver on time. Profits were up 100% in a year.”

This is hard to find. You have to look at 100+ businesses to find undervalued and underperforming. This is called working hard. It’s not called being happy.

I am happy right now. I am in a hotel eating a fruit plate writing this article. I should be looking for laundromats to buy. Or oblong pizzas. I am not a qualified killer at the moment.

 

C) Borrow money.

Why not? Interest rates are near zero. Always use other people’s money rather than putting your own personal freedom at risk.

Are you willing to bleed out your A** for a dream?

With the bank, you can demonstrate cash flows, what you would do to turn around the business, and you can borrow money.

Often you can also arrange owner-financing – meaning you don’t have to pay off the entire business right away.

Do it.

The rest is self-explanatory. Use the increased cash flows to find more businesses (equally hard work as before).

Buy them and consolidate back office (e.g. get a bulk discount from the laundromat you outsource to, etc) and now you have even better cash flows and can buy more businesses.

Here is my advice: when you can make your first million or two from this: sell the business. Start over.

Why?

A billion dollars isn’t cool. You know what’s cool? A million dollars.

The reverse of the above phrase is in a popular movie. The actual true phrase is in reality.

This is Main Street. It’s not Silicon Valley and it’s not Wall Street. It’s how people make money without having a corporate job.

There are other ways to do this. The internet is a great way to make money. But this is about hard-core real ways people make money and build businesses.

You don’t need to build a space ship or a time machine. You don’t need to make augmented realities of Pokemon’s.

And you don’t need to respond to all the pseudo business-inspirational stuff I see on BS websites. Find a laundromat.

Don’t go to an “entrepreneur” conference unless you want to meet a bunch of drug addicts trying to sell you a $30,000 course.

I’m going back to reading “Journey to the End of the Night” and “The Road.” I’m enjoying them. They are better than the newspapers (“Sanders!” “Hilary!”) or the social media feeds (“KILL IT TIL YOU DRILL IT!”)

I don’t have enough hustle in me.


By the way, I did the above. I wouldn’t write something unless I actually did it and, also, screwed it up so bad I had to do it again.

A friend of mine was potentially going to have a divorce. Her husband was having trouble with his business using antiquated technologies.

I bought in. I turned the business around by upgrading the service we offered. And a few years later I sold it. The couple retired and saved their marriage.

That’s how I made my first million.

Here’s how I lost it… I bought into a business that was a scam. Because I suddenly thought I was smart when i wasn’t.

So I had to start over. And I did and I did and I did. I was miserable almost the entire time.

Now I think I am OK happy. Because of money? No. Because I’m about to hit ‘publish.’

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Tuesday, July 12, 2016

Ep. 175 – Rich Cohen: The Sun & The Moon & The Rolling Stones

Mick Jagger fooled around with Keith Richards’ girlfriend. I wouldn’t be able to work with someone after that.

But maybe that’s why I’m an author. And not a rockstar.

The Rolling Stones became a new band every 5-7 years. They were “perpetual amateurs.”

That’s one of the keys to staying alive as an artist.

Or as an entrepreneur.

Or staying alive at all… “Remain the same but different.”

And be “open to influence,” Rich Cohen said. He wrote “The Sun & The Moon & The Rolling Stones,” an incredible book about the greatest rock ‘n’ roll band of all time, fate, creation, sex, influence and the art of reinventing yourself.

It was “the gig of a century:” touring with The Rolling Stones the summer of ‘94. Then Rich worked with Mick Jagger on the HBO series “Vinyl.”

But this story isn’t just about The Rolling Stones. It’s about creation, corruption and reinvention.

And the 9 ways you can reinvent yourself today:


1. Use your frustration

Rich became an artist out of anger. So did The Rolling Stones.

Rich’s father told him “blood-soaked bedtime stories” about the Jewish gangs of New York.

“There was this idea where I grew up that if you were Jewish, certain possibilities were foreclosed to you.”

He wrote “Tough Jews,” which heavily influenced the movie “Goodfellas,” and later led to more mob media like “Boardwalk Empire” and “The Sopranos.”

“Everything’s connected,” he said.

Frustration is fuel for reinvention. Someone without problems won’t create. Instead, they’ll idly count money. And wonder where their smile went.

Frustration wrote, “I can’t get no satisfaction,” the song that Mick Jagger says “prevented us from being just another good band with a nice run.”

“There was this whole soap opera… A rock band not only has this great blues base. They also have someone who’s addicted to something, and they’ve got this weird relationship between the lead singer and the guitar player. They love and hate each other,” Rich said. “And they’re like brothers.”

They worked their tensions through the music.

And Rich worked his through writing.

“I was interested in this idea of expanding what it means to be Jewish and making it more complete,” he said. “And also the stories are so great.”

He wrote “Sweet and Low” about his grandfather who invented the famously pink sugar packet out of desperation.

He saw a single-sided stereotype about Jews. A good stereotype, “but still a stereotype.”

You have to find your frustrations. And invent from annoyance.


2. Remain open

Mick Jagger went to dance clubs in his fifties.

“We’d go out and have dinner or whatever. And then you go home. But he would go out… mostly because he wanted to see what was making kids dance.”

“A lot it’s driven by what goes on inside a person,” Rich said.

But it’s also about:

  1. “remaining open”
  2. “and willing to be astonished by new things“

That’s influence. And inspiration.

I read to write.

You have to take in the landscape. Find out what else’s out there. And combine it with your ideas.

The Rolling Stones “started out as record collectors with the best taste.”

Look at what you love and then…


3. Ignore the myth of age and wisdom.

Rich’s dad is 83. And he (generally) only accepts opinions from people his age.

“Listen,” Rich tells his dad, “you’re gonna run out of people you can listen to because there’s only a couple million of them left on the whole planet.”

“If something’s huge and people love it, I want to read it to see what the hell’s going on.”

If you hold your breath against change, your mind will cripple with your body.

Look at people 20 years younger than you.

See what they’re doing and…


4. Rip off the best stuff

OR…


6. Be the anti-

Everybody knew they’d get “love from The Beatles and sex from The Rolling Stones.”


5. Liberate yourself

I put step six before five.

You don’t have to go in order. Rules are only as real as you make them. And the more you follow them, the less freedom and control you have over your life.

The best way to change your life is to reinvent yourself. That’s why everyone dreams of doing something drastic. Quitting their job, flying across the country or getting a sex change. You’re finally listening to yourself. It’s liberating.

Start small.

Do your morning routine in reverse. Change the temperature of your shower. Order dessert first. I don’t care.

Just give yourself permission to stop holding yourself accountable to the little habits.

Because no one cares about that. Not even you…


7. Chase something

Jagger would go to Lennon’s apartment on the Upper East Side. Leave him notes. And rarely hear back.

“Everybody has someone they want to hang out with who won’t hang out with them,” Rich said.

Reinvention is a mystery.

“A lot of it is driven by anger and openness. And being willing to be astonished by new things. One good way to keep reinventing yourself is not to be too successful, actually,” Rich said.

You have to “feel like you’re chasing something all the time… [something] you can get but just can’t quite get.”

I asked Rich, “Do you think John Lennon liked Mick Jagger?”

It doesn’t seem like John Lennon would like Mick Jagger.

[Listen at 26:45]

Their relationship is weird.


8. Go from fan to imitator to original

“A lot of musicians starts with a song,” Rich said. “The Rolling Stones started with an idea.”

But they needed help transitioning from fans to imitators to originals.

So Lennon and McCartney wrote The Rolling Stones’ first “original” song.

[Listen at 22:15 for the full story]


9. Never stop re-inventing

In the beginning, they ripped off blues bands.

“And then in the ‘70s, they kind of turn and get into reggae. And it’s a whole new thing”

“Then Mick Jagger goes to Studio 54 and discovers disco. And suddenly they have this album that’s like a fight between disco and the blues caught on vinyl and that’s ‘Some Girls.’”

Rich says that was their last great album. Because they stopped reinventing themselves. It’s the death of every good artist. Your skill withers, your brain atrophies and your fans move on.

Without you.


I don’t plan on being a legend. 

Or getting any satisfaction…

Listen now to hear half a dozen more stories about rock ‘n’ roll, fate, influence and inspiration. And comment below with your insights from the interview. I’ll re-share my favorites.


Resource and Links:

Also mentioned:

  • Life” by Keith Richards
  • One of my favorite HBO sereies: “Vinyl
  • Movies to watch: “Kundun” about the Dalai Lama, “The Big Knife,” “Gangs of New York
  • The Rolling Stones
  • The Beatles
  • Muddy Waters
  • The Yard Brothers
  • Duke Ellington
  • Phil Spector

The post Ep. 175 – Rich Cohen: The Sun & The Moon & The Rolling Stones appeared first on Altucher Confidential.



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What Do I Hate And What I Do About It

I told Mollie, “hate” is a strong word. She hated something that seemed small and not worth hating.

Why such a little girl has to have such a big emotion? But I guess I am inflicted with that mental rash as well.

What I hate: 

1) Owning Shit

I don’t like to own anything. I feel like they hold me down.

I want to be like a kite, with only a strong and a pair of feet that love me to hold me to the Earth.

I mostly never use the things I own. “Own” just becomes a label. And I don’t like to go to stores. Shiny things whispering to me to take them home.

Solution:

  • I threw everything I own out. (I did this three times. The last time was a 100% purge of all memories, furniture, diplomas, photos, paperwork, stuff from 40 years).
  • I have one small bag of clothes. If I buy one thing, I have a rule” I throw one thing out.
  • All books go on Kindle. Or I read in bookstore.
  • If I feel the urge to buy something, I think, “what will i throw out” and then I usually don’t buy.
  • Smile a lot.

 

2) Communitng

I don’t like to travel far to a meeting or a place where I have to do some work.

Solution:

I stay in Airbnbs near where I know where I will have to be. I don’t leave NYC EVER for work unless: I’m going to run into someone I love.

By not renting or owning it means I save on:

a. all the costs of owning
b. maintenance
c. furniture
d. the BS of renting: first month, last month, two security deposit months, all the references, letters from accountant, etc – all not necessary
e. I get to explore new neighborhoods as much as possible.
f. forces me to own few things, to travel light
g. Example: my podcast studio is next door from my Airbnb right now. BAM!

3) I hate when someone hates my above response:

Solution: leave me alone. Other solution: I ask myself, “is this feeling of ‘hate’ really me, or just a reaction of my body?”

 

4) I hate interacting with people where I feel bad about myself afterwards.

Solution: I only spend time around people I really like.

  • Which means I can’t have a solid job. Because a job forces you to be around people you don’t like at least part of the time.
  • Easy excuse to leave events, when someone shows up that I don’t feel like being around.
  • I like to be mostly by myself most of the time anyway. I like me.
  • Should I do business with someone? Easy solution: yes if I like them. No, if I don’t. Money does not play a factor.
  • Even if it costs me money, i get away from a toxic person no matter what the cost as quickly as possible.

 

5) Being sick

When I even have a cold, I can’t get any work done or be with people I love.

Solution:

I like nutritionist’s Michael Pollan’s simple rules. Despite all the diets: Paleo, Vegan, Pescetarian, high-carb, low processed sugars, etc etc. these simple rules have been working really well for me lately:

a. Eat food (not processed)
b. Don’t eat a lot (I do about 2 meals and one snack a day)
c. Mostly plant based (I pretty much stopped red meat and will do fish only a few times week.

The hardest part is no processed foods (like most breads and snacks). I like Pringles, for instance.

But after awhile of doing this you see the difference

Oh, and I sleep a lot. This avoids a lot of sickness. I slept 10 hours last night.

 

6) Working out.

I HATE going to the gym. But as I get older I think it’s important although, to be honest I don’t know why.

Solution:

  • Load up my iPad with a TV show with captions for the treadmill. I HATE the treadmill. But by the time a show is over, it wasn’t so bad.
  • Gamify the weight machines. Try to do a little bit harder than the day before.
  • Simplify. Whatever I do, I try to do one set of 10 reps, then make it harder and try to do two sets of 5-7
  • Leave in an hour.

 

7) When someone working with me does something wrong.

Solution:

  • It’s not really that important.
  • Mick Jagger and Keith Richards are ultimately still friends.

 

8) For Everything else that I hate:

General solution:

  • If I hate it, I don’t do it. Period
  • Except…if for some reason I have to do it (very rare) I try to have one takeaway where I learn something

I’m going to work on a book today. I’m going to go swimming today. I made one business phone call with a friend of mine for the past 22 years. It’s 9am and that’s the last phone call I will make today.


Those are my 10 Commandments of Hate.

If you are mathematically inclined and notice that I only have 8 and not ten…well, good for you.

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