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 :
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 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.
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.
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.
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 :
No need to liquidity
No risk or little
Require no time
Require no management
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.
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 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.
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