17 Conversations That Made Me Millions in My 20s
Throughout my 20s, I had several conversations that profoundly influenced my entrepreneurial journey and financial success. Here are the 17 conversations that made a significant impact.
1. Jump Into Your Dreams
I was debating whether to quit my job and start a gym. A mentor told me, “At some point, you’re not going to know anymore; you just have to jump.” This pushed me to make a decision and pursue my entrepreneurial dreams.
2. Make Irresistible Offers
Another mentor revealed the secret to sales: “Make an offer so good people feel stupid saying no.” This changed my approach to creating products and services, focusing on what people truly want.
3. Go Slow to Go Fast
A mentor taught me the importance of consistent effort: “You got to go slow to go fast.” Compounding over time leads to significant growth, while erratic changes hinder progress.
4. Test at Scale
When I struggled with marketing, a mentor advised me to scale my efforts. He emphasized the importance of testing at a large scale to gather meaningful data and achieve results.
5. Learn from Others’ Success
Seeing a seemingly disorganized yet successful entrepreneur taught me to use others’ successes as motivation rather than envy. This shift in perspective fueled my growth.
6. Choose High Leverage Opportunities
A mentor told me, “You have a level 10 skill set and a level 2 opportunity.” This pushed me to seek higher leverage opportunities with greater potential for impact.
7. Seize Fat Pitches
I learned that when opportunities are abundant, it’s crucial to go hard. “Fat pitches in life don’t come very often,” a successful entrepreneur advised, encouraging me to capitalize on favorable conditions.
8. Focus on Scaling
Instead of diversifying, a mentor advised me to focus on scaling what was already working. This tripled our ad spend and led to rapid growth.
9. Allocate a Learning Budget
An e-commerce expert suggested setting aside a percentage of the marketing budget for new ideas, expecting to lose it but gaining valuable lessons. This allowed me to innovate and learn without immediate returns.
10. Align Decisions in Marriage
A pastor advised, “If you don’t agree, don’t move forward.” This simple yet powerful advice helped my wife and me make better personal and business decisions together.
11. Expand the Market
I realized the importance of targeting a broader audience. “The riches are in the niches,” but scaling requires opening up to larger markets.
12. Share the Pie
A billionaire taught me the value of sharing success: “You need to give people a slice of the pie and let them get rich too.” This mindset helped me build a strong team and scale the business.
13. Embrace the Cost of Fame
A famous friend said, “If that’s the price I have to pay to make the impact I want, I would pay it every day of the week.” This helped me accept the pros and cons of fame.
14. Volume is Key
An influencer advised, “Do so much more volume than you currently are.” This lesson reinforced the principle that more work leads to more results.
15. Simplify Investing
A conversation simplified my investment strategy: allocate capital based on expertise. This focus on what I knew best improved my investment outcomes.
16. Leverage Exceptional Products
Naval Ravikant taught me that exceptional products create exponential growth. Focus on perfecting one product before moving on to the next.
17. The Power of Brand
Warren Buffett explained that brand allows you to charge above the commoditized version of your product. The difference is the power of brand, which compounds over time.
Conclusion
These 17 conversations have shaped my approach to business, investing, and personal growth. Embrace these lessons, and you can achieve significant success in your own journey.
FAQs
How can I make better decisions in my career?
Embrace the concept of “jumping” into opportunities and make decisive choices based on your research and intuition.
Why is creating irresistible offers important?
Irresistible offers simplify the sales process by aligning products with what people truly want, making it easier for them to say yes.
How can I scale my efforts effectively?
Focus on consistent, large-scale testing and scaling what works instead of constantly changing strategies.
What is the importance of sharing success?
Sharing success with your team creates a motivated, skilled workforce that helps drive the business forward.
How do I leverage the power of brand?
Build a strong brand that allows you to charge premium prices for your products, increasing profitability and market presence.