The Successful Seller Mindset
We hear from Liran and Isabella Hamilton as they breakdown a Tweetstorm from Silicon Valley tech expert and angel investor Naval Ravikant. Naval is the author of How To Get Rich Without Getting Lucky. This episode is focused on how to create a successful seller mindset, and not just specifically Amazon focused. Check out the top 15 tweets from this Tweetstorm below!
Liran and Andy spent the last 2 weeks in China with several Amazing Freedom members as they visited Hong Kong, the Canton Fair, the Yiwu marketplace and Shanghai.
1. Earn While you sleep.
Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.
2. Ethical wealth creation makes abundance for the world.
Wealth isn’t about taking something from somebody else—it’s about creating abundance for the world.
3. Ignore people playing status games.
They gain status by attacking people playing wealth creation games.
4. You’re not going to get rich renting out your time. You must own equity – a piece of a business – to gain your financial freedom.
- Earn with your mind, not your time.
- Set and enforce an aspirational personal hourly rate. If fixing a problem will save less than your hourly rate, ignore it. If outsourcing a task will cost less than your hourly rate, outsource it.
- No one will value you more than you.
5. Give Society What It Doesn’t Know How to Get.
Society will pay you for creating what it wants, but doesn’t know how to get, and delivering it at scale.
6. Play Long-term Games With Long-term People.
Pick an industry where you can play long-term games with long-term people. All returns in life come from compound interest over many turns of the game.
7. The Internet has broadened career options.
The Internet has massively broadened the possible space of careers. Most people haven’t figured this out yet.
8. Returns come from compound interest in iterated games.
When you have been doing business with somebody, you’ve been friends with somebody for ten years, twenty years, thirty years, it just gets better and better because you trust them so easily. The friction goes down, you can do bigger, and bigger things together.
9. Pick Partners With Intelligence, Energy, and Integrity.
Picking partners with high intelligence, energy, and integrity is the three-part checklist that you can’t compromise on.
10. Partner With Rational Optimists
Don’t partner with cynics and pessimists. Their beliefs are self-fulfilling.
11. Learn to Sell, Learn to Build
If you can do both, you will be unstoppable.
12. Arm Yourself With Specific Knowledge
- Arm yourself with specific knowledge, accountability, and leverage.
- Specific knowledge is that knowledge that you cannot be trained for. If society can train you, it can train someone else, and replace you.
- Specific knowledge is found by pursuing your genuine curiosity and passion rather than whatever is hot right now.
- Building specific knowledge will feel like play to you but will look like work to others.
- When specific knowledge is taught, it’s through apprenticeships, not schools.
- Specific knowledge is often highly technical or creative. It cannot be outsourced or automated.
13. Take business risks under your own name.
So in that sense, people who are stamping their names on things aren’t foolish. They’re just confident. Maybe it turns out to be foolish in the end, but if you look at a Kanye or an Oprah or a Trump or an Elon or anyone like that, these people can get rich just off their name because their name is such powerful branding.
14. “Give me a lever long enough and a place to stand and I will move the Earth.” ~Archimedes
- Fortunes require leverage. Business leverage comes from capital, people and products with no marginal costs of replication.
15. Capital has been the dominant form of leverage in the last century
When you’re finally wealthy, you’ll realize that it wasn’t what you were seeking in the first place. But that’s for another day.