Work Effectively And Earn More (Part1)

work effectively

I watched an Olivier Roland’s video  and I learned good stuff.

Everyone wants to work more efficiently to save time and make more money. There are 2 books to learn how to do this and I’m going to do a synthesis of 2. Maybe you already know theses 2 books, it’s « 4 Hours Workweek  » by Tim Ferriss  and « The One Minute Millionaire » by Mark Victor and Robert Allen.

Before you start, it’s important that you know that there is a special relationship between time and money. The idea is to better manage your time in your day to make your money work for you and make more money. There are several actions to put in place to do this and these actions based on 3 laws :

  • Leverage – Leverage gives you the speed to reach your goals faster. With a lever, you can control several elements. There are 5 types of leverage in 5 forms. We’ll see this in detail.

  • Pareto’s law.

  • Parkinson’s law

Lever

lever effect leverage

Let’s start with the leverage and its different points of support. There is a very interesting quote from Archimedes :

« Give me a place to stand, and a lever long enough and I will move the world »

Leverage allows you to reach your financial goals more easily and quickly. The higher the fulcrum is, the higher you can go up and far.

5 points of support

Money from others

Very useful in the real estate because the money of the banks and the tenant can allow you to have an additional income and a heritage. This heritage is largely financed by the money of others.

Skills of others

By meeting professionals who have more experience than you and mentors on your professional field, you can follow their examples. This allow you to access years of knowledge in a very short time, and avoid making mistakes that can cost you a lot of money and waste a lot of time.

Ideas of others

Find a partner who is willing to share ideas. For example to create your business instead of reinventing the wheel, you can join a franchise network to use and implement a business model that has been proven.

Time of others

Use the skills of someone who has more experience than you, by this way you can save. Delegate tasks.

Work of others

Support a team that is capable to manage things for you without you need to give last minutes instructions. Create a team with a list of instructions so that they are as autonomous as possible.

5 forms of support points

 

Mentors

Mentors are an incredible source of information. Select the people who inspire you from the people who have succeeded in the field you want to master.

Team

It’s known to many we can accomplish more than alone. A team makes it possible to work in synergy and to find solutions more quickly. Find people who have the same values as you and who have complementary skills.

One of the best example of a successful team is the team Steve Wozniak and Steve Jobs who together created Apple. Steve Wozniak is a computer genius, he created the first Apple computer, the Apple 1 and he largely created the Apple 2 that made the success of Apple. Steve Wozniak is a very nice person but at the time, he didn’t have the skills to sell these computers. Steve Jobs was a sales genius but he didn’t have the skills to create these computers.

Steve Wozniak and Steve Jobs separately have never been able to create something as impressive as Apple, the association of these 2 people who shared the same values and the desire to offer people computers easier to use have marked the history of computer with Apple.

Networks

The more professional relationships you have, the greater the leverage will be. Grow your network in the areas where you want to share and work.

Skills and tools

Having essential tools to reach the goal and mastering the operation of theses tools increase success. Skills to master are the power of persuasion, rhetoric and humor.

Systems

Using a good system increases the chances of success. To make money, there are millions of systems (there are so many on internet). The perfect system has 5 characteristics :

  1. No need to liquidity

  2. No risk or little

  3. Require no time

  4. Require no management

  5. Require little effort

The truth is that is very, very, very difficult to find an investment system that has these 5 characteristics, but you have to try to get as close as possible to work less and earn more money.

Pareto’s law

pareto law 20 80

Parkinson’s law or the 20/80’s law discovered by the economist and sociologist Vilfredo Pareto. This principle explains that 20% of the countries of the world share 80% of the wealth and that within these countries 20% of the people share 80% of the wealth. Here is the basis of this principle : « 80% of effects come from 20% of the causes », which means that a minimum of causes create a maximum of effects. Always try to identify in your actions or in your company, the 20% of actions which bring 80% of results.

Parkinson’s law

parkinson law time effort

Parkinson’s law discovered by historian and essayist Cyril Northcote Parkinson. This principle explain that the work extends so as to occupy the time available for the completion of a task. For example, if you put 2 hours to do a task that can be done in 1 hour, you still go for 2 hours. To have more time, we must force ourselves to have less. The basis of this principle is to do a task at 50% or 75% of the recommended time to do it.

In this section, we saw leverage, Pareto’s law and Parkinson’s law. In the 2nd part, we’ll see the 5 actions to be effective and the 4 actions to make more money.

Share this article if you think it can help someone you know. Thank you.

-Steph

Company Creation And Taxes

taxation

I watched an Olivier Roland’s video  and I learned good stuff.

It’s true that a frequent question, how to optimize taxation when we start a company.

Solid foundation

mountain

It’s extremely simple. Here are the 3 most important steps to do when we create a company :

  • First step => sell

  • Second step => sell

  • Third step => sell

The only thing that is important is to find customers who are willing to pay for your products/services. Everything else is superfluous.

Spend all your days looking for ways to pay as little tax as possible or have a Zen office to stimulate your creativity or create your website with the best design in the world, all this is superfluous. This is intelligent procrastination.

To grow your company, you need to find customers in the most efficient way possible.

Be profitable

profitable profit growth

The truth is that you’re going to ask yourself how you can optimize your taxes when you ask yourself: « Wow, I’m paying too much taxes now, I need to improve that ! ». When you ask yourself this, you’ll have ways to pay a specialist’s service. And it will also mean that your company is profitable, which is excellent.

It’s normal for an entrepreneur to minimize costs as much as possible to make the company profitable. But taxes shouldn’t be an obsession because it can make you forget the company’s mission. Your company isn’t profitable because you pay the minimum taxes. Your company is profitable because of the added value of your products/services.

So when you start your company, the 3 most important things are to sell, sell, and sell to have a profitable company.

Share this article if you think it can help someone you know. Thank you.

-Steph

Find The Gym For Your Goals (Part2)

find a gym diffrent type

I read a Nerd Fitness article  and I learned good stuff.

If you didn’t read the part 1, click here 

Type de gyms

different type gym

You noticed there are several categories of gyms. That’s why you have to take your time to think about a gym that fits your needs.

Fitness center franchise

In the best known franchises, you will have cheap membership. It’s cheap but you have few amenities, some type of trainings are forbidden, free weight section is limited and often the staff has no experience.

Health clubs/Sport clubs/YMCA

Clubs look like franchises but they have a better service. There is more amenities, towel service, child care, pool, tennis court. Membership can reach $100, some type of training can be prohibited and free weight’s section limited.

Note : Franchises and clubs can be convenient if you travel a lot because with their membership, you can train in different cities.

Locally owned gyms

These gyms have a better equipement, a free weight’s section bigger and a better quality staff than franchises and health clubs. Membership is around $25-50 and it’s real that amenites are less good than health clubs.

Weightlifting club/barbell club/crossfit

It’s a room with bumper plates, dumbbells, barbells and pullup bar. With the membership, you have a coach and classes, that’s why it’s expensive. These gyms are open at certain hours during the day. These gyms have their own workout program, you can’t do your own workout program.

College/university gyms

it’s cheap and you need to paid upfront in full.

You can have a discount « alumini » memberships if you go to the college or university that you attended. If you don’t live near of you old college/university, some gyms offer memberships to family members of alumini or staff, local « senior » memberships or event just local resident memberships. What is great with this type of gym is you can have acces to their full facilty (pool, racquet courts, classes, etc).

Test drive the gym

test drive

The next step is to look for gyms in your city now that you know differtent types of gyms.

Do a test in gyms to see if the equipement meets your needs. Some gyms offer pass for 1-2 weeks. During the test phase, go train the same days that you plan to train after signing the contract.

Imagine that you find the perfect gym, you sign the contract and eveydays you train, it’s war. The gym is full of people and you can’t use equipement. This is a situation to avoid.

Here is what is important to see during the test phase :

  • Is there enough equipment for everyone or you have to fight to have a bench ?

  • Does the equipment work well ?

  • What is the gym’s atmosphere ?

  • Is it clean ?

  • If you go befoire school/work, is there enough shower available or you have to wait ?

You can read gym’s reviews on internet by searching with Google or DuckDuckGo. Attention, on internet people prefer to complain than to do compliments so be careful. For me the best thing to do is talk to gym members to know what is positive and negative.

Contracts

contract

A lot of people don’t want to have a membership gym because one of their friend had a bad experience to stop a gym’s membership. This for this reason it’s important to take your time to read the contract and understand clauses.

Here things to look at in a contract :

  • A membership termination clause because for exemple, you move or you lose you job. This is rare but sometimes you can stop a membership if you live near the gym. Usually there is a fee named «  early termination fee » (that’s what I have).

  • The possibility when you’re on vacation ou you have to work for several weeks in another city to freeze your membership.

  • If the gym goes bankrupt, what happens to members ?

  • Membership renewal is automatic ?

You know salespersons work with commission so if a sales person make you a promise, make sure that this promise is in writing. Taking the contract at home is the thing I advise you to read it quietly and understand clauses.

If you feel that the salesperson put pression on you or that you don’t feel comfortable for another reason, leave the gym.

Note : There are states that has specific laws. For exemple, you can cancel the contract only 2 days after signed it. It would be a shame if you signed this type of contract without being aware of this clause. This is why it’s important to take the contract at home to read it quietly.

Here different membership’s fees :

  • Activation fee

    You pay these fees when you’re a new member. You pay these fees once.

  • Monthly cost

    it’s a fee you pay every month

  • Maintenance fee

You pay these fees per year. Attention, some gyms have a special clause that says : « We don’t have this kind of fee now but later, it’s possible to add these fees without telling you ». Be sure to know this clause if it is in your contract.

When I enrolled in my gym, there was an offer for people who applied for registration on internet. Look at gym’s website to know offers but also ask always to salesperson if there are discounts.

In gyms, there is often a membership’s range of price. You need to negotiate, don’t hesitate. Don’t forget that the more you take the more expensive membership, the more the salesperson will have a larger commission. If the salesperson tell you : « No », it doesn’t matter, you tried to get the best price.

By negotiating, somethimes you can register in a gym for the first time without paying the activation fees. To do it, you need to talk to the person who has permission to do this. Sometimes they can call you 1-2 days after to offer you an exceptional offer.

You can also have a nice offer by paying an annual membership up front. Look at the price difference.

Also you can have offers with you health insurance. It’s always with a limited number of gym but look if you have this option.

Stay focus

stay focus

The difference between a workout at home and a workout in a gym is that in a workout in a gym, you can really make your potential evolve to the maximum.

For exemple, if you do a barbell’s workout, you will have always heavy weight plates to go to the next level. It’s the same thing for dumbbells. You need heavier, it’s here. No need to worry about buying new.

Of course, there are negative pointst to enroll a gym. You have to move there (bike, bus, car, etc), you to wait if you go during busy hours, the cost and do your workout around unkown people.

I repeat, you can train at home to be healthy or gain strength with a bodyweight workout program. You can buy a set of dumbbell, barbell, kettelbell or a sandbag. You can do sprints or walk (like my father) outside with any weather and it’s free.

For me the gym, it’s an important moment of my day. It’s the moment where I’m focus on myself and the society’s pressure no longer exists.

Share this article if you think it can help someone you know. Thank you.

-Steph

Future Of Entrepreneurship Is Knowledge

knowledge

I watched an Olivier Roland’s video  and there is good stuff.

Knowledge is the future of web entrepreneurship. Bill Gates published a text on 1st march 1996 « Content is king » . Read these sentences :

« Content is where I expect much of the real money will be made on the Internet, just as it was in broadcasting ».

Since 1996, we see that his prediction is confirmed.

Today with content, we can do more than most of companies did until now. Usually companies try to have loyal customers. With content we can create a truly tribe of fans. Seth Godin explains this in his book « Tribe » .

Seth Godin is a marketing’s visionary of 21st century. He anticipated a lot of change with the irrution of new technologies. As the way how companies communicate with theirs prospects, customers and now theirs communities.

All companies should create content even bakers, shoemakers or plumbers. We know today, content allow you to create a tribe of fans to have a truly privileged relation with your community.

The future

the future

Content is the future because more and more functions in the job will be done by softwares, robots or outsourcing to low-cost countries. It’s the last years we can see humans taxi drivers and truck drivers. Quickly automatic cars will come and they will disrupt the entire industry of taxi and truck. Uber made its first delivery with an automatic truck (https://www.wired.com/2016/10/ubers-self-driving-truck-makes-first-delivery-50000-beers/). Uber invest a lot in automatic truck technology.

A lot of jobs will be do by algorithms. A book talk about this « Homos Deus » . Even a job as doctor will be disrupt by new technologies. Within 20 years, we will have sensors in our body or in watches, jewels, smartphones. Theses sensors will measure a lot of parameters in our body, upload those data in the Cloud and we will have access to diagnostic softwares more efficient than doctors. It already exist, IBM sell its Watson’s system to hospitals to reduce the number of medical error .

The truth is we can’t guarantee to anyone that his/her job will still exist in 20 years. And if you job still exist in 20 years, it will be deeply disrupt by new technologies.

It’s here knowledge’s economy intervent. We had agricultural revolution then industrial revolution and now we’re in information revolution. It means if you’re in information industry in 2016, you will be placed among jobs which are going to be the most difficult to disrupt by softwares, robots and outsourcing in low-cost countries. I can’t guarantee you that your job will still exist in 20 years but you will be well placed to accompany this wave of change. May be you can cause it a little bit on your scale.

The key to ressources and wealth in 21st century, it’s how to circulate information and knowledge freely. Old companies try to stop this revolution, they try to stop companies like Uber, Airbnb, etc. but it’s like beavers that make dams to stop a tsunami. We must embrace change, we must have a flexibility of mind and initiative that allow is to adapt to 21st century. If not all industries will be finished like music industry. Do you remember Napster  ?

Learn online

learn online

There will be more and more important place for people who teach this kind of state of mind because school don’t do it. Beyond this state of mind, there will be an ongoing need for training on key competencies because the school has a too much great inertia. If you follow a computer course at the school, you can be sure that school is behind on what is happening now on the internet. It’s cool to have the basics but it’s better to have computer courses online with competent person.

There will be enormously weath that will be exchanged for richess of content,because this content is necessary to be able to adapt continuously to the change of 21st century.

If today, you want to be in the knowledge’s economy like blogger, youtuber, eBook writer, etc. Don’t hesitate, it’s now to create your place and consolidate it to be among people well placed in 21st century to bring value to others and generate value (added value).

Each entrepreneur should check the value he/she brings to the world. Create a new Pepsi is good but like said Steve Jobs : « it’s just sell water with sugar to people. It’s not what will improve the world ».

-Steph