The Method Episode #4
How we turned $200 into $202,000 in 14 days
^ An impressively clickbaity title but even more impressive is what Kale Jonny and Alex pulled off.
TL: DR – They conspired to open a new, fully equipped gym with no money, no equipment, no lease and no social audience in two weeks. By day 14, they’d generated $200k of revenue (upfront), signed a lease, ordered equipment and planned the opening of their new gym. They pulled this off in Cromwell, a country town of <5,000 beer & wine-loving people who, in many cases, were signing up for their first-ever gym membership.
This wasn’t a fluke; they made many intelligent decisions and worked hard, which Kale covers in detail here.
More than the smart’s, elbow grease and outside the box thinking aside. The two takeaways I got from the central fitness story are:
2. The Ask
Kahuna’s, or the more politically correct version, courage sat behind every action these guys took. There’s a quote like, ‘to achieve anything out of the ordinary, you need to do what the ordinary aren’t prepared to do’ I butchered that, but you get the point.
If you’re looking at someone wondering, ‘Why can’t I have that well, like Kale & co, they probably did something different to everyone else to get that which takes courage. Courage is doing what you don’t want to do, pushing through the uncomfortable feelings.
This leads to the second point, especially relevant for us introverts. They asked for help and asked a lot.
I hate asking, as I bet many of you do. I tell myself it’s because I’m shy, but more likely, I’m scared of rejection, and I don’t like admitting to myself I need someone’s help.
To get over this minor hurdle, ya just gotta get on with it. The only cure I’ve found that gets rid of that uneasy feeling is practise. Whether that’s asking for help or anything else stopping you from achieving the un-ordinary, just do it.
What’s Going On
It looks like Tesla is about to release a smartphone. Will they bring anything new/useful to the table? #Smartphone
Good or Bad? It’s happening anyway. Robots are taking over our workplaces #Robots.
We are now investing in people. This creator just sold 5% of her future earnings for $1.7million #Investing.
How To Optimise Wealth Building Like Rob Dyrdek
You might know Rob Dyrdek from the tv show Ridiculousness or his 10+ years as a professional skateboarder. But likely not from his entrepreneurial successes.
Over the past 5’ish years, he’s built a fortune of $400 million.
Rob likes to do life a little differently. He’s kinda crazy, in a good way and is obsessed with optimisation. He believes you can optimise your way to any outcome you like including lifelong happiness.
One of his tamer and more accessible methods, i.e. you don’t need to be this optimisation nut, is joining a support group.
He explains it as an AA group except for building wealth.
Every month he meets with 15 people of varying nature, wealth and age to discuss wealth generation.
The unique feature of the group and why it works so well is, similar to AA; everyone has to be super honest and open.
These peeps are not friends or even previous acquaintances. Just a group of strangers (initially) meeting for a shared purpose.
The premise is simple. A rising tide lifts all boats.
They take turns revealing all their asset holdings and wealth building tactics for the rest of the group to learn from. They discuss their advisor’s recommendations, investment philosophies, tax efficiencies, portfolio allocation and so on.
Because you have to be so transparent with your finances, it could get weird if you did this with your mates. But that transparency works with strangers; it creates trust and builds a strong bond between the group.
I’m not 100% on how you find the right people to start one of these groups, but I can see the value of this exercise for any shared purpose.
There’s plenty of small business groups and whatnot around, but they lack true transparency. This means the trust isn’t there, so the group lives in half-truths. The best ideas & practices don’t get shared, leaving most of the value at home.
Have a question or want to chat about anything you’ve read this week, join our community slack channel. Got someone in mind who needs to know about the method, send them here. As always – Thanks for Look’n.