Read on Twitter
Like to know how to make an obscene amount of money for not doing much?
A Short Thread
In his famous tweet storm âHow to get Richâ @naval talks about âspecific knowledgeâ.
In short, specific knowledge is something only you can do. It canât be outsourced or automated.
A Short Thread In his famous tweet storm âHow to get Richâ @naval talks about âspecific knowledgeâ.
In short, specific knowledge is something only you can do. It canât be outsourced or automated.
Iâll give you an example of how it works in real life.
Iâve worked in an industry for 15 years.
I have a very unique skill. âSpecific knowledgeâ.
As a consultant I have provided that knowledge for a number of years.
It pays well.
I donât really want to do it any more.
Iâve worked in an industry for 15 years.
I have a very unique skill. âSpecific knowledgeâ.
As a consultant I have provided that knowledge for a number of years.
It pays well.
I donât really want to do it any more.
I donât hate it, itâs no longer my passion.
Iâm at a stage in my life where I donât need to.
So I told them.
They offered me more money.
I said no.
They offered 25% of the companyâs profit.
Itâs worth around $150k/yr.
For 2-5 hrs per week.
Iâm at a stage in my life where I donât need to.
So I told them.
They offered me more money.
I said no.
They offered 25% of the companyâs profit.
Itâs worth around $150k/yr.
For 2-5 hrs per week.
The companyâs 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.
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 didnât start my second until I was AMAZING at my first.
7 years and lots of profit later.
Focus is key.
1) Be the best at ONE thing
Coming from someone with 7 businesses that may seem strange.
But I didnât 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 didnât know they had
I know from experience running 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 didnât 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.
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.
Itâs a massive opportunity.
As are lots of business services.
Heâs giving a blueprint on how you can make a fortune online.
Follow him.
Thanks for getting this far!
Hope you enjoyed.
Feel free to retweet
if you did.
As are lots of business services.
Heâs giving a blueprint on how you can make a fortune online.
Follow him.
Thanks for getting this far!
Hope you enjoyed. Feel free to retweet
if you did.
