Benjamin D. Suarez used the 7 steps to freedom to grow not one, but a few businesses. So, in Ben’s words “it [the system] passed the “fluke test.” ”
Here are some nuggets I interpreted for content creators from the 1st step’s first chapter which is mostly about strengthening your mindset.
2 Myths That Will Keep You Broke (And their contradictions)
Myth 1: "A different breed of people do big things".
Contradiction 1: The only difference is how high you’re aiming. For example, If you’re a good poker player but play for pennies all the time you might say “I’m only good at penny games, not the big stakes…” But, the cards don’t know the difference.. If you’re already playing, might aswell play for the big stakes.
In essence the 1-st myth’s lesson is: Aim high
Real-Life Example: I’ve recently been looking for garages as a real-estate investment, and as always I’m looking at the cheapest ones. But, after reading I thought “What if, I looked at more expensive ones, which are in more demanded areas and potentially have higher ROI* and rentability?” Now I’m checking those out too.
Myth 2: "To get rich, watch your pennies. Dollars will take care of themselves"
Contradiction 2: He says this is nonsense. As beginning entrepreneurs our most valuable and scarce resource is time.
That’s why we’d better focus on the things that will bring us back a lot of profit and not a few pennies. It takes an equal amount of time to do both.
In essence the 2-nd myth’s lesson is: Focus on high return Tasks
Real-life example:
I have about 7 tasks on my to-do list with potential money return. After laying them out I figured the task with the highest return is of 420 Euros – A compensation for a cancelled flight. The lowest is of 20 Euros, an “unjust” debt with my mobile network provider. Clearly we know which I need to do first. But, on the positive side there are 2 “income” tasks – Improvementor and Investments. Those are even higher because they may yield a continuous return. So, I figured, I’d better first focus on reaching my daily quota on those, and in the spare time solve the rest by some quick emails(Those that permit this solution).
Self Preparation
Develop Self-Confidence and a Positive Self-Image
Losers are often looking for a valid excuse to “fail” and stop working, while winners see excuses as obstacles which may help them grow.
Here are 4 excuses that often stop people from winning, which shouldn’t stop you if you want to win
4 Frequent Excuses That Stop Losers (And their contradictions)
1. Yet again: “Another Breed of People do Big Things”
Truth is they’re just willing to fail long enough.
2. “Big things are done by people who get high grades in school or score high on IQ tests.”
Truth is many achievers schooled poorly, E.G. Thomas Edison, an inventor, was schooled 5 years total(1).
3. “The establishment intimidates me. They are too powerful to compete with.”
Truth is the media makes them look so. While in reality they mostly consist of many ordinary people.
4. “I come from an inferior race or an inferior nationality”
Truth is even if “inferior” races exist, which Ben doubts. What matters is “Do YOU have the intelligence needed?”
As a New Entrepreneur Expect Resistance, But Know Your Place
Most people don’t like change, and will try to bring you down. But you must remember that entrepreneurs are the ones who improve society, and carry on with courage.
Be Persistent
On your way to success there is a “Success Barrier”. 99% of successful entrepreneurs do not pass this barrier on the first try according to Ben. But if you do stick long enough, the barrier will break. Stay the course!
Condition Yourself To Perform Disciplined Mental Labor
People sometimes told Ben that he is successful because he is a genius, because he wrote this book. “You can just whip something like this, but we can’t” they say. That’s when he sometimes felt he wants to strangle them….
They don’t realize that the mental work it took sometimes approached unbearable agony, but, it’s an essential step nonetheless.
Physical Fitness
If you want your mind to function at peek levels, you’ll need to have physical endurance too. That’s why Ben recommends light workouts every day and hard ones at least once a week.
Develop Self-Reliance and Versatility
People often depend on their boss to decide for them. Entrepreneurs need to overcome this tendency. It’s scary at first, but true achievers will feel home very quickly.
Start Doing Something
Force Things to Happen Quickly by Tackling the Most Important Parts First
If you perform (post) quickly, you’re more likely to see what works quicker. Then, you can go deeper or switch to something else. (More feedback than doing nothing for long.)
Separate The Important from The Unimportant and Think Big
People sometimes haggle over 2% of a deal and lose the other 98% as a result.
Interpretation: If during the writing of a blog post searching a quote’s source takes too much time, look for another one with an available source.
Have a Carrot to Chase
On the negative side, you may remember that if you fail you’ll have to go back to your corporate life.
On the positive side you may remember it’s BETTER TO BE RICH THAN POOR, all other things being equal.
Did You Learn Something From This Post?
Or are you drawing a blank to this question?
To help you deepen the knowledge of what you’ve just read, below is a simple FILLABLE 1-page worksheet.
Sources
1. Thomas Edison Bio – Encyclopedia Britannica
Images
1. Book Cover – Scientificadvertising.com
2. Ben Suarez – Beaconjournal.com
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