Like to know how to make an obscene amount of money for not doing much?

A Short Thread

In his famous tweet storm ‘How to get Rich’ @naval talks about ‘specific knowledge’.

In short, specific knowledge is something only you can do. It can’t be outsourced or automated.

I’ll give you an example of how it works in real life.

I’ve worked in an industry for 15 years.

I have a very unique skill. ‘Specific knowledge’.

As a consultant I have provided that knowledge for a number of years.

It pays well.

I don’t really want to do it any more.

I don’t hate it, it’s no longer my passion.

I’m at a stage in my life where I don’t need to.

So I told them.

They offered me more money.

I said no.

They offered 25% of the company’s profit.

It’s worth around $150k/yr.

For 2-5 hrs per week.

The company’s profit will double over the next 12 months.

So I said yes.

Why did I take a profit deal? Because the work that I do directly impacts their bottom line.

And I know their business very well.

I have a massive incentive.

Moral of the Story?

1) Be the best at ONE thing

Coming from someone with 7 businesses that may seem strange.

But I didn’t start my second until I was AMAZING at my first.

7 years and lots of profit later.

Focus is key.

2) Provide services to BUSINESSES

Businesses pay huge amounts for solutions to their problems.

Especially if you;
1) Provide a unique skill
2) Solve a huge problem
3) Solve a problem they didn’t know they had

I know from experience running businesses.

3) In a deal the person who needs the deal least almost always wins.

My indifference towards the deal means I can name my price.

Thanks to @lawrencekingyo and his recent tweets for inspiring this thread.

He is 100% correct with his take on social media for businesses.

It’s a massive opportunity.

As are lots of business services.

He’s giving a blueprint on how you can make a fortune online.

Follow him.

Thanks for getting this far! Hope you enjoyed.

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