What I’m Reading
Your Next Five Moves - Patrick Bet-David has quickly become one of my favorite influencers online and consistently puts out some of the most valuable content around business and entrepreneurship on his social channels. This is a great book around strategy, planning, and giving yourself the best chance to win in life and business. He details, to become a chess grandmaster, you have to develop the ability to look five moves ahead. In a similar vein, you have to become a strategist and think at least five moves ahead all the time in your life and business as well. This book lays out how he’s done it on his journey to success and how you can follow suit.
Wisdom of the Week
Your life is a reflection of your ability to solve problems. The bigger the problems you can solve, the bigger the results and rewards you will unlock. If you’re unsatisfied with where you’re at in life, start by taking inventory of the problems you have in your life and push yourself to solve bigger problems.
Question of the Week
Question: What do you do when you’re in a funk? How do you get out of it? (Ashton - Sacramento, CA)
Answer: This last year has presented some interesting challenges for me. 2 family members passed, I had to put my dog down, and there have been countless challenges in my businesses. As a result, I’ve found myself in a few funks this year. This isn’t the first time this has happened and I know it wont be the last. One of my terms I often talk about on the podcast is being “weaponized”. Weaponized is when I am hitting on all cylinders, I am dangerous, and things feel effortless while achieving optimal results. A few years back I took inventory of everything going on in my life when I felt weaponized. I was working out, eating healthy, spending quality time with my wife and daughters, not drinking, being productive in business, meditating, serving others, learning daily, daily journaling of what Im grateful for, etc. So what do I do when things feel heavy, overwhelming, stressful, funky…I go back to my blueprint of activities that have me feeling weaponized, take action, and trust in the process. What generally results…the pendulum swings back and slowly you pull yourself out of a funk. If you haven’t taken inventory of when you feel the most dangerous/weaponized, I encourage you to do so.
Pic of the Week
Disneyland is an extremely magical place. So magical, it made a lot of my money disappear ;) That being said, it was one of the best vacations I’ve ever had and it reminded me how important wealth building really is. Money is a tool of that unlocks many of life’s greatest treasures….experiences and memories! Don’t let anyone ever make you feel bad or negatively about your desires to go and get your unfair share.
Something I’m Paying Attention To:
With layoffs and hiring freezes, a squeeze on homeowner equity, and inflation still running rampant, I think we’re going to start seeing some pain and distress hit the real estate market in early 2023 that will present massive buying opportunities. While many sellers are still unrealistic about their pricing, I’m seeing price reductions, cancellations, and seller motivations increase across the board. If you’re in the market to buy, offering 20-30% below comps is a great starting point to test one’s motivation as I’m seeing coaching clients snag some deals with solid margins and cash flow. But be patient as this is just the beginning of the real estate correction and as time goes on, more opportunity will present itself. After the 2008 crash, The best deals didn’t come in 2009 or 2010. It took some time for pain to really settle in and the market to find it’s bottom. Base hits…no thanks. I’m waiting for triples and home runs because THEY ARE COMING!
Onward and upward,