Thursday Three: Compound Tasks, Alt Investments & Untapped Potential
Every week I bring you a couple gold nuggets to inspire growth in your business to build wealth & create freedom. Find me on Twitter @brianbeers
"Tomorrow becomes never. No matter how small the task, take the first step now"
- Tim Ferris
Compounding tasks leads to exponential results
I’ve been journaling daily for years now. It has been one of the best activities for creating new ideas, reflecting on the challenges & finding solutions. The idea for this newsletter was born in the journal!
My primary topics:
what went well?
where do I feel the most energized?
what is holding me back?
This simple routine only takes 5 to 10 minutes per day.
E226 Alternative Investment Strategies That Work! with Frederick Hubler
This is a great conversation between two of my friends Josh McCallen and Fred Hubler.
Fred Hubler is a wealth strategies that specializes in “alternative” investments. He dives into a few of his favorite which includes:
Oil & Gas Investments that write off against your active (W2/business) income PLUS cash flow 15-20% per year
Delaware Statutory Trust (DST) - allows you to 1031 into (and out of) institutional quality investments like an Amazon Distribution Center, 4-5 Star Mobile Home Parks, Self Storage & more
Private Preferred Stock - high yield dividend paying stock options from major US companies.
Fred’s recommendation is to focus on investments that cash flow that also have tax benefits as an ancillary benefit.
Business With Beers
This past week I had Chad Romzek on the show. Chad is an entrepreneur who started by inventing a single product, the Kick Ash Basket. This product lead to creating an entire e-commerce that gave Chad financial freedom to quit his job.
Chad shares a number of great lessons that he learned along the way along with some of the mindset shifts that happened to burn the boats and go all-in on his business.
On my Thursday solo episode I talk how Chad’s story of transformation is a great reminder that everyone, including you, has a ridiculous amount of untapped potential. You have the potential to start your own business, create more freedom in your lives, build wealth through investing, and have a huge positive impact on other people.
The goal of being an entrepreneur is to create a business that serves us. A business that allows us to live the life we want and to write your own story. It should give us freedom to spend time doing what we love and with people that inspire us. It should give us financial freedom & the opportunity to explore the world.
I’ve got 3 simple steps to help you get started in tapping your full potential to create more freedom
#1 Acknowledge & agree that you can do a lot more
Almost every person in the world has internal limiting beliefs, a voice in your head that says what is possible and what is not.
The only thing that holds you back from achieving anything you want is you. It’s not the government, it’s not your boss, it’s not your family or anyone else. It’s you. You have unknowingly held yourself back for years. Starting today you can change that.
#2 Think & Act Big
It takes the same time, effort, and energy to do something small as it does to do something big. In theory the “input” of the deal is the same but the output is significantly better - even life changing better.
Thinking & acting big has led to 4X growth of our company over the last few years…and we’re not done.
#3 Ask “Why Not Me?”
The first time you think big, real big, about something you pause and say “yah right” I can’t do this, I don’t have the time, I don’t have the money, I’m not smart enough, I don’t the education or resources. Then you scratch that idea and scale it back to something “reasonable”
I can tell you from being around tons of very successful wealthy people that they aren’t the smartest, majority didn’t get MBAs from fancy schools, they didn’t come from money and they all have the same 168 hours per week that me and you do.
What makes them special is having very clear goals that are huge, they take massive action, aren’t afraid of failure, create authentic relationships with people and hold themselves accountable through discipline and doing what they say they’re going to do.
So knowing this, ask yourself “why not me”?
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