What My Mentor Tought Me About Making Money

Here in New York and I’m working on a chapter of my new book what they should have taught us in school and the chapter is how to make money which is probably the number one question people ask me and it was interesting one of my my sick of mentor Alan nation he told me before you can fix where you are you have to understand how you got to where you were so if you’re broke when I was broke I had to start out before I asked how I could get unbroke or make money I had to figure out why I was in that scenario to start with and I think the most basic reason is that in school they don’t teach us even the basic definition of money like I’ve asked tens of thousands of people when I do public speaking what is the definition of money define money in like three words or less and people give me all these different answers and long paragraphs but it took me years to really find the answer which I’m putting in the book but I guess I’ll tell you now it’s scarce in demand resources and until you really understand what that means it’s hard to make real money in life so you ask yourself why does the schoolteacher make less money than a pro basketball player isn’t education or being a teacher or more relevant more helpful to society than being able to throw a ball you know in a hoop but that’s not how our system works if you understand the capitalistic system it rewards people who have scarce in-demand resources so let’s think about it what’s more rare and I’m not saying by the way this is right and this is how the world should be I’m just explaining how it is if you can if you’re six foot six could throw a ball in a hole or kick a ball like soccer player you made fifty million bucks a year by the way speaking of that I’ve got my new kicks New York Sox since I’m here in New York but it’s more rare to be able to play pro athletics than it is to be able to teach school or you know serve coffee at Starbucks and therefore less money flows in that direction money is like a flow like a river and it flows in the directions of scarce but it can’t just be scarce it has to be in demand for example if you know how to do underwater basket-weaving that’s scarce very few people could teach that but no one cares so going back to the sports analogy World Cup 700 million people watched it so if you can play pro soccer like Messi like Ronaldo you know you all of a sudden you have a scarce skill to be that good and it’s in demand and that adds up to 50 million bucks so what you have to do in life and it’s what I’m just going to talk about in this book it should be released here soon is how you can make money move your direction not with a get-rich-quick scheme not just thinking about it but actually making it happen and the first place to start is building more scarce in-demand skills it’s too bad they didn’t do that while we’re in school spend two or three hours every day instead of just memorizing stuff and you know doing spelling bees and stuff like that which I guess is somewhat relevant but not really in the modern world where you have spellcheck what’s really important is to really have a deep understanding and a deep skill set that’s scarcity and demand and that will make you twice the money three times the money a hundred times the money that you’re making now so hope that helps

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