355: Ramit Sethi - How To Live A Rich Life

<p>The Learning Leader Show With Ryan Hawk</p> <p>Text LEARNERS to 44222</p> <p>Full show notes can be found at <a href= "http://www.LearningLeader.om">www.LearningLeader.com</a></p> <p>The Learning Leader Academy: <a href= "http://bit.ly/thelearningleaderacademy">http://bit.ly/thelearningleaderacademy</a></p> <p>Episode #355: Ramit Sethi - How To Live A Rich Life</p> <p>Notes:</p> <ul> <li>Ramit's book buying rule - If you are even thinking about buying the book, don't deliberate, <em><a href= "http://bit.ly/welcometomanagement" target="_blank" rel= "noopener noreferrer">just buy it</a></em>. You could invest $17 and it could change your life. Even one idea makes it worth it.</li> <li>Excellence - "Consistently do the work." <ul> <li>Put it on the calendar</li> <li>Seek out people who are successful and then ask them for advice</li> <li>In motion - Refuse to be stuck or paralyzed -- Take action</li> </ul> </li> <li>"Show me your spending and your calendar and I'll show you your priorities." <ul> <li>What are the 3-4 most important things in your life? Does your spending and your calendar reflect that?</li> </ul> </li> <li>Ramit starting learning how money worked while he was in college at Stanford... "The basic, boring truth. Consistency..."</li> <li>Starting your blog can be your experimental laboratory</li> <li>What is the future of <a href= "http://bit.ly/thelearningleaderacademy" target="_blank" rel= "noopener noreferrer">online courses</a>? <ul> <li>Online learning will continue to grow -- "Great leaders are always learning."</li> <li>You should join <a href= "http://bit.ly/thelearningleaderacademy" target="_blank" rel= "noopener noreferrer">The Learning Leader Academy</a></li> </ul> </li> <li>The trajectory of hiring as you're growing a business: <ul> <li>Part time assistant --&gt; Researcher --&gt; Full time</li> </ul> </li> <li>What do you look for when choosing who to add to your team? <ul> <li>Excellent at the task of doing the work</li> <li>Curious - They ask great questions</li> <li>Likable - They are someone you want to spend time with</li> </ul> </li> <li>Start your business on the side: <ul> <li>It's practical... Going from zero to 1 is very hard: Start this part while you have a job and don't <em>need </em>the money from your new endeavor</li> </ul> </li> <li>The psychology of pricing: There is a profound difference in customers who get it for free vs. those who pay for it <ul> <li>You need to create "skin in the game." People value it more if they have a financial stake in it.</li> <li>"In business, you're not looking for the most people, you're looking for the right people." <ul> <li>"If you're a cheapskate, you'll attract cheapskates."</li> </ul> </li> </ul> </li> <li>The power of mentors: They can be massively helpful, but you need to do the work to be a valuable mentee. Show up to your meetings prepared and with a purpose. Don't wander through life.</li> <li>Atul Gawande - A coach in the operating room -- <a href= "http://bit.ly/thelearningleaderacademy" target="_blank" rel= "noopener noreferrer">EVERYONE needs a coach</a>.</li> <li>Automate your finances - It's the crown jewel. Set up your system so you don't need to think about it after it's created. <ul> <li>Create auto saving behaviors</li> </ul> </li> <li>"People are so busy asking $3 questions instead of $30K questions." <ul> <li>"How do I use my money to live a rich life?"</li> <li>"What does rich mean to you?"</li> </ul> </li> </ul>