Leverage the advice of others who have been where you wish to go.

You don’t get any awards for doing life on expert mode. Some of us (myself included) like to experiment and learn themselves. Today I had to snap myself out of this mental trap. I don’t know what I don’t know and oftentimes a solution is relatively simple.

That’s where leveraging others comes into play. Leveraging others isn’t using others, let’s kill that noise first. We leverage others every day through books, media, and all sorts of devices and gadgets that don’t enrich our minds or our lives. Once more, nowadays money have monetized their knowledge for a fee. I paid tens of thousands for college, what’s an extra few hundred to learn a skill that I can use for life? Or on the contrary, what’s the extra few hundred to learn what I dislike about something worth to me? That time saved is priceless.

So I’m neck-deep in this course that was only a few hundred bucks. Even though I’m in real estate for my day job, I have a lot to learn when it comes to the acquisitions part of real estate. And that’s the part that makes you money in real estate. In some industries education isn’t a true substitute for experience. It’s up to you to think and decide whether or not this applies to your industry as well.

Day 1: Turning This Shit Around

Today’s agenda was to create a mailer list using Excel and Word. I’m going all-in on 2 different endeavors. First I have my VA firm, Genius Virtual Assistants and then I have my Land Acquisitions Co, Boardwalk Land Co. So far both are pushing up goose eggs but now I have marketing down. First I will send out mailers and sharpen my tool for land acquisitions (today I’m going over excel modeling and reading a book about land entitlements and codes). In the VA firm, I’m using Notion to change my VAs day to day prospecting around.

Simple changes but changes needed nonetheless. This is the part of entrepreneurship that sucks. The work part. At the end of the day, it’s not a game of intelligence but of sheer willpower and in some cases the insanity to keep going.

Here’s to insanity.

Q1 in review-Failure abounds

We all need someone or a way to hold ourselves accountable for our own actions. Most of us strive to achieve great things throughout life. Whether it be professional, personal, or just hitting a new max in the gym, accountability is a vehicle to move forward to even bigger goals.

Last quarter I endeavored to make $50K in revenue by March 31st. I monumentally undershot that goal as I ended up with a big fat goose egg by quarter’s end.

But why did I fail? The fail isn’t the absolve me of faults, on the contrary, the why is so I can try a different method next time. My marketing dried up as I had to keep starting and stopping due to improper money management. What gets measured gets managed and in my head, I combined my personal and business expenses together. This was foolhardy as my business has made a dime in income yet.

So this quarter I began with a keen eye on my expenses and whenever possible, lower them. In addition, this will allow me to keep my marketing spigot open, and eventually, a deal will happen.

I got 1 deal under contract last quarter, which was a significant improvement from prior quarters. So I’m failing forward with each step. As long as you keep failing forward, eventually, those failures will turn into wins. Attrition is the ultimate adversary in entrepreneurship.

So Q1 was a failure but I learned a lot about myself as a founder/owner. I learned my strengths and my weaknesses and now that I know them I can begin to curb my worst impulses and pour gasoline on the things I am good at.

So anyone got a match? Let’s light Q2 on fire.

Do what you are best at. Fuck all the bullshit.

“Find what you are good at and pour gasoline on it. Then light a match.”

Who’s the better athlete?

In a game of 1 on 1 basketball, who would win Jordan or Phelps? Of course, MJ would, he would beat Phelps 11–0. Phelps would never get a shot off.

In a swimming competition, who would win? Duh, Phelps would dust MJ.

The point of the aforementioned examples is to point out that these 2 athletes are considered on par some of the best athletes in human history. But it is only at their niche. If we were to ask them to race Bolt they would lose before they knew what hit them.

Do what you are innately and uniquely great at. You can be good in lots of things however you would arguably only achieve greatness in the lane you are naturally talented in.

Go be great.

Pulling the trigger

“Shut up and shoot. Stop pussyfooting.”

G.O.A.T.

We sometimes spend too much time and energy researching and lining up our shots. This isn’t to say research and proper due diligence isn’t important, on the contrary, it can be paramount to avoid catastrophe. I’m saying we spend all our time analyzing, thinking, tinkering, research, sleeping on it, etc., etc. blah, blah, blah and we never act. It’s exhausting. And it’s from fear of failure.

You’re gonna mess up. You’re gonna fail. Sometimes in the most epic ways. But the important thing is to shoot the shot. Imagine if Michael Jordan spent all his time analyzing the perfect angle to shoot a jump shot. Perfecting the way he jumped. Mastering the art of his fadeaway. But he never actually shot the ball…he wouldn’t be Michael Jordan.

Stop worrying so much about the 1% that can go wrong. There is never a way to mitigate 100% of the risk. You’ll never have all the information. You have to learn how to act with 70% or hell sometimes 60% of the information. The best leaders learn how to trust their gut and have the confidence to see their actions through.

After a certain point, the best mentor is experience. And the only way to get that is to shut up and shoot the shot.

Go Where The Opportunity Is

“If you pay attention, you will see where the opportunity is.”

Recently I read Sam Zell’s Am I Being Too Subtle. In it, he repeatedly emphasized, “When others are looking right, go left.” In today’s economy, there are a number of opportunities hiding in plain sight that go unnoticed by many who are looking to turn one dollar into three dollars.

Are you aware we are witnessing many legacy businesses trade hands? Private equity and hedge funds have made a killing buying and selling legacy businesses. What if I told you the average main street investor can copy these techniques? There is $30 trillion in assets transferring right now from Baby Boomers to subsequent generations. A lot of that wealth is tied up in small businesses (think plumbing, HVAC, and other small businesses).

In addition, many small businesses fail within the first 5 years. A main street investor can buy into a business and from day one, have cash flow coming in as opposed to starting from 0. It’s much easier to go from 1-2 than it is to go from 0-1. Meaning it’s much harder to start and business and make it profitable than it would be to buy a mature business and increasing revenue. Capital makes everything easier.

There is a bull case for small business acquisitions. The vast majority of these small businesses will be unfit for acquisition, no question about it. However, if you go on any golf course midday during the workweek, you’ll find it filled with small businesses that own their own business.

99% of NFT projects will fail. However…I made $5000 on one.

99% of NFT projects are trash and will fail. It’s essentially the wild wild west and it’s full of more winners than losers. Hats off to the people who can routinely flip projects for cash flow, however, the vast majority of people lose money with them. It’s due to this sentiment I trashed the whole sector almost 6 months ago. However, I said what the hell and as a small experiment attempted to flip one. I went 1 of 7 (still holding some). Here’s what I did and maybe you can find a method to the madness in my notes.

There are various NFT markets built on different types of blockchains. The most popular blockchains are Solana and Ethereum. I chose to go with Solana due to the low cost of transactions. With Ethereum transactions, you are literally paying $100.oo or more just to transact, whereas with Solana you put fractions of a penny.

You will need a wallet browser to buy Solana NFTs. I use the Phantom wallet as it’s the easiest wallet to set up with Chrome. Once you get the wallet set up, you have to load it with Solana. I used Crypto.com to buy some Sol and simply transferred it to my Phantom wallet. Beware of fees as it takes gas (transaction cost) to move from one wallet to another.

After you load up your wallet you’re going to want to download discord. Discord is a way to track how active a community is behind a project. This isn’t a surefire way to avoid NFT scams (rug pulls) but it helps as it also is a way to doxx (learn the identity) of a project’s founders.

To learn about upcoming projects you can use howrare.is/drops. Howrare.is is for Solana projects. Howrare will give you all the pertinent information you need to understand and due diligence on a project. It will give you the website, Twitter, and discord information in addition to the cost of a mint. Mint is essentially the first opportunity to buy into a project for the public. You have whitelist mints as well that allow you to buy before the public does so. Often the whitelist mints are cheaper than the public mint.

The key to NFT price is supply and demand, same as anything you buy or sell. The project I made money on have a small supply and they had Steve Aoki as an influencer to help drive activity.

Be sure to check out the website to understand the roadmap for each project. The roadmap will give insight as to why the creators made the NFT and to what purpose they are trying to achieve.

Once a mint is completed you can list and buy projects from marketplaces. Marketplaces are centralized websites where the blockchain is verified so as to avoid scams. Solana has a few such as MagicEden and Alpha Art. It’s important to note, you can note sell a project until after a mint.

I happened to mint a project called Monkey Kingdom at 3 am on November 26th. I sold it 3 weeks later for 34 sol which at the time was around $6000. I had to pay a royalty fee of $1000 and the rest was mine to keep.

And that’s how I made money on NFTs. I still will buy into projects and crypto but I see it as play money. I essentially only spent $5 bucks to make $5000 as I never traded with money I didn’t earn from crypto or flipping ICOs.

I know this article was longer than usual but I wanted to share how simply opening your mind can enhance your life (and your pockets). NFT as a technology isn’t going anywhere and through this experience, I’ve gained insights as to merging NFTs and crypto with real-world assets.

The Power of Compounding

When it comes to compounding, we tend to only think of money. After all compound interest is how our stock investments grow and how our student loans work. What if I told you life itself is about compounding?

For example, knowledge compounds. Every time you read a book you are compounding knowledge. Each year you work in your profession, you gain more mastery and knowledge. Each year you add to the knowledge of the previous years. Knowledge compounds. The more you know the more you can understand. You can only think to your highest level of comprehension. That level rises each year as you compound knowledge.

Relationships compound. Relationships are built on trust. As you maneuver throughout life you will meet and come to know many different people. As with every person you meet, initially, you both are strangers to each other. As the relationship matures you go from simple acquaintances to true friendship. Many of you reading this may be married. Initially, your spouse didn’t know you. But that stranger ends up becoming one of the most important people in your life.

When you start and stop different projects and endeavors, you are preventing the compounding from occurring. Many people don’t realize that compounding is the key to success. Without the compounding, we wouldn’t have any of the marvels of modern society.

NFTs-Retiring 18 yr olds since 2021

My wife will tell you I was very anti-NFTs as of July 2021. “It has no value.”, “Who the hell will buy a JPEG?” Etc. Etc.

My thought processes regarding NFTs are largely the same, however, I realized what I think really doesn’t matter? Who the hell made me the arbiter of value? Who am I to tell someone how to spend their own money?

Then I saw adolescents flipping these JPEGs for large sums. At a certain point you have to begin asking yourself, “Am I missing something?”. NFTs have no value to me, however, they have thought me a lot about learning to roll with the tide and to remain open to possibility.

How many times has that happened in our world? Famous economists and businessmen at one time called the internet a passing fad. Hedge fund managers used to doubt bitcoin. And now NFTs are attracting the attention of prominent corporations and individuals. Are NFTS a passing fad? Maybe. Maybe not. However, I argue they are something to look into based on the underlying technology and its possible utility.

Remain open. Some of the best ideas are things we can’t even fathom right now. Learn to merge them within your areas of expertise. Think like a winner.

The New Leverage

In business school, I learned about different types of leverage such as capital and labor. We are now in the 4th industrial revolution and it introduced tech and automation. Naturally, this has created newfound wealth for the individuals who have successfully leveraged it. But I would like to talk about the new leverage: audience.

Yes, audience. Social media created a new way of promoting businesses and getting ideas across. As cliche as it is, you don’t need everyone to like you. Hell, you don’t even need most people to like. Enter people such as the Kardashians, Donald Trump, insert any popular influencer here. They figured out a way to successfully use social media as a tool to get their agenda across. Why can’t you do the same?

Decentralization is a buzzword nowadays but many have only hit the tip of the iceberg. What if I told you this applies to media, too? What if I told you have the same tools they have (Except the social media team(s). Authentic content is better anyhow). In addition, with the functionality of these sites, you don’t have to be on them all day every day. You can schedule posts and go about your business.

Imagine the implications this has with capital raising. Traditionally entrepreneurs would have a Friends and Family round to raise money for business ventures. If you have a sufficient audience, 1 post about your project can be all you need to raise the capital. There are people right now raising $10 million in 1 week from Twitter followers. And these same followers will help you get the word out so you have customers on day 1. This drastically improves the success rate of new ventures as many businesses fail in the first year primarily due to lack of profitability.

Building an audience isn’t easy. Nor fast. Like most good things, it takes consistency and effort. But it will pay dividends going forward.