Keywords:: PermanentNote
Tags: wealth self-help makePublic
You won't get rich by renting out your time. Without ownership, your inputs are very closely tied to your outputs.
This means that you're not earning when you're sleeping. You're not earning when you're on vacation. You're not earning when you're sick. And so on.
What you're doing instead is exchanging your time for money. A doctor or a lawyer, although they make a lot of money, are still trading time for money. In these types of jobs, you're replaceable because someone could be trained to do your work.
Connect to productivity trap from the industrial revolution onwards – it might be the modern form of slavery.
If you want to be successful, you need to do the opposite. What you want to look for are things where inputs are distantly connected to the outputs. Where one unit of work can yield 1000 units of results.
One way to achieve that is by creating something unique, something that cannot be replaced, that gives value to people. Usually, it requires a combination of specific knowledge and [authenticity](TK PN: The best way to succeed in business is through authenticity) which result in a creation of a personal brand that solves specific problems of a group of people. Examples of such brands are Tim Ferriss, Joe Rogan, Tony Robbins. These are just the biggest, but you don't need to be that massive to make a good living, satisfying 1,000 people might be sufficient for a decent living. Start small but be consistent. Eventually, you'll succeed.
Other means to achieve wealth come from owning a part of a business or an asset. Because these things enable infinite leverage. For example, you can write a book that can reach millions of people. You write the book once, but the book keeps 'working' for you throughout time as long as it's valuable. Or, you buy a business and you yield profits as it grows. The same is true for digital assets like great code, youtube videos, online courses, etc., and for physical assets like gold, real estate, water.
These activities will enable you to retire. By retiring I mean being free from doing things you wouldn't do for their own sake. Such things as working at a job, where you need to be at the spot at a specific time, dress in a certain way, commute every day, and so on. Being on retirement means doing things for their own sake – because you simply want to do them. It means for example waking up without an alarm clock, working on your business, going to Bali, reading books the whole day and writing about them on your blog, and so on.
Relevant notes:
The 4-hour workweek distilled: becoming the NR is a half-way stop to retirement.