Having a billion dollars can seem rather far away.
But after studying how billion-dollar company CEOs think, I started to notice a recurring pattern.
Here is the great news - it's no hidden secret. It's something that isn't extremely obvious, but everyone can take this and implement this in their lives.
I first came across this concept while I was reading Nassim Taleb's book, Black Swan.
There are only 2 world that exist: Mediocristan or Extremistan.
The mediocristan world is something that most of us operate in. There will only be a few winners, while the majority of people will fall into being average.
On the other hand, there is the extremistan world, where the best people/companies will dominate everyone else.
People who operate in the extremistan world (typical people with extremely high net worths) are great at doing this one thing well: Leverage.
They understand very well that they only got 24 hours every day and the only way to maximize this is through leverage.
By leveraging time, people and knowledge, they are able to accomplish much more than a normal human being would.
Here is are some examples of how you can get more done with the extremistan model:
- Hire people who are better than you
- Learn from people who are better than you
- Borrow money to buy stable assets
- Outsource everything that you are not good at
- Reflect often - "How can I achieve more with less?"
When I first started my investment journey, I was trying to learn everything on my own. I tried to learn through Google and Youtube and after 5 years, I got nowhere.
After a while, I met some experienced mentors who guided me the right way. I analyzed and purchased my first stock within 1 month and I never looked back since.
Over time I learned that getting more out of life wasn't just a matter of working harder at it. It was much more a matter of working effectively because working effectively could increase my capacity by hundreds of times. - Ray Dalio
Time is the most important asset that anyone can have. The further you delay this, the longer it's going to take you towards your goals.
Try to do everything by yourself is physical, mental, and emotional suicide.
Harness the power of leverage and you will see exponential returns in your life and wealth.
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