The Tai Lopez Show (general)

“Look for existing ideas and improve on them” - James Swanwick

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Today’s episode is all about launching a physical product. I’m talking with James Swanwick about the process of launching Swanwick Sleep, and specifically their breakout product Swannies Blue Light Blocking Glasses. Swanwick Sleep is on track to do $2 million sales this year, and we’re going through what it took to get Swannies to that point.

If you are interested in starting launching a physical product, this episode will show you the steps. In addition, understand the power of Amazon when it comes to physical products. If you know how to use Amazon to it’s fullest potential, you will be able to tap into their massive customer base to move a lot of physical product.

Don’t forget, you can listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“You should always sell stuff that you really use” -Tai Lopez

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Points to Keep In Mind

  • Don’t try to come up with something completely new. Instead take something that is already working well and improve on it
  • Look for existing ideas and improve on them
  • Find a way to shrink the size of the problem through doing the math required to get to where you want to be
  • Focus initially on the minimum viable product. It doesn’t have to be perfect at first
  • Don’t only look at absolute results, but relative results to where you were before
  • Going too fast can get you in trouble, just like going too slow can
  • You should always sell stuff that you really use
  • Connect with influencers around your product
  • To be good at marketing you have to understand psychology
  • A lot of mindset things are hardwired from the day you’re born, in your DNA
  • Blue light, after the sun goes down, is killing your sleep. Use Swannies to block the blue light after the sun goes down

 

Swannies Blue Light Blocking Glasses

JamesSwanwick.com

Direct download: Tai_Lopez_-_EP_10-16-17_v2_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PST

“The true definition of “luck” in this modern age is learning early” - Tai Lopez

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To determine the financial value potential of something right now, there is a simple formula: Future value = present value of future revenue. This is the formula that you can use when examining business ideas and opportunities, when looking into investments, and all other areas of financial potential.

Today, I am talking about that formula, as well as why apartments are one of the lower risk real estate opportunities, the 2 ways you make money, how to monetize a brand beyond normal operations, why life is like poker, 3 ways to start a side hustle, why haters hate, why mindset is the main thing holding people back, and what the butterfly effect means for the importance of the little decisions you make everyday.

Don’t forget, you can listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“Think about life like poker: You don’t have to win every hand, just don’t go all in when you have a bad hand” -Tai Lopez

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Points to Keep In Mind

  • In the long term, something is worth: Present value of future revenue
  • Ask yourself: How much would you pay today to have a future revenue?
  • Apartments allow you to diversify your future revenue
  • 2 ways you make money in anything:
    • Capital appreciation
    • Cashflow
  • If you build a brand that is recognizable and has good connotations with it, you can make money through licensing deals without actually running the business
  • The true definition of “luck” in this modern age is learning early
  • Think about life like poker: You don’t have to win every hand, just don’t go all in when you have a bad hand
  • 3 ways to start your side hustle:
    • Look at the skills you already have instead of trying to get new skills
    • Don’t just have an idea. Go from idea to offer
    • Launch before you think you’re ready
  • A lot of ideas cannot be validated until you actually do them
  • At the end of the day, we’re all going to the grave at around the same pace, but some people go their with a more happy life than others
  • Haters are usually just projecting their own insecurities on others
  • Too many people want to remove all insecurity from life, but that is simply not possible
  • Life goes through the process of seasons, so expect the changes
  • You have to be 100% convinced and sold on your own product to be good at sales
  • Mindset is the main thing holding most people back
  • Just as a butterfly flapping its wings can start a hurricane, very small bad decisions in your life can lead to terrible consequences down the road
  • Likewise, small intelligent decisions can help you in incredible ways down the road
  • You must structure fun and entertainment in your life to stay motivated in the long run
Direct download: Tai_Lopez_-_10-15-17_best_of_the_week_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PST

“Break your goals down into small steps to reduce the intimidation around them” - Tai Lopez

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In order to achieve something, you must know the steps between where you are now, and where you want to be. A lot of people have big goals, but unless those goals are broken down into the required, manageable steps, you will not know the path forward.

This is why I recommend the practice of inversion: Invert where you want to be, by what it will take to get there. If you want to make $100,000 per year, find out how much that is per day, and then find out how much per hour. Then, focus on achieving that hourly goal.

Follow this formula to break your goals down into their manageable steps, to know the specifics of the way forward to achieve them.

Don’t forget, you can listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“The reality is that you can achieve almost anything within your circle of competence” -Tai Lopez

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Points to Keep In Mind

  • Use the practice of inversion to find out the small details required to achieve your high-level goals
  • Break your goals down into small steps to reduce the intimidation around them
  • Everyone's a millionaire: Either 1 million dollars or 1 million excuses
  • Some people have a mindset that always looks for the negative
  • People are taught to be pessimistic by society
  • The reality is that you can achieve almost anything within your circle of competence
  • To get to the next level, just do more of what you’re already doing
Direct download: tai_lopez_-_10-14-17_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PST

“You have to be able to see possibilities before you pursue possibilities” - Tai Lopez

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Your potential will be what you decide it is. The reality is that what holds most people back is their own mindset. If you think you have unlimited potential, within your circle of competence, you really do have unlimited potential within that circle.

The circle of competence refers the range of things that you are really competent in. For instance, if you are not at all naturally athletic, you do not have unlimited potential in athletic pursuits. But provided you have a certain level of competence within a pursuit or skill, your potential is probably only being limited by what you mindset is.

So increase the range of your mindset, and what you believe is possible for you to achieve. As you do that, you will see your results begin to increase in kind.

Don’t forget, you can listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“About 90% of the world only operates at 10% of their potential” -Tai Lopez

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Points to Keep In Mind

  • You have to be able to see possibilities before you pursue possibilities
  • About 90% of the world only operates at 10% of their potential
  • Nothing happens unless you, at some point, really believe it is doable
  • There are a lot of things that are required to live a good life, but money is one of the most measurable
  • See risk as opportunity
  • Look for balance in your work life
  • 70% of billionaires did sales. It’s a great early education
  • Most of society is not ready or willing to learn
  • You have to believe it is possible before you can achieve it
  • Each thought starts to create a groove in your mind. As you continue to think negative thoughts, you reinforce bad mental habits that will keep you down
  • Your mental frameworks of thought will define what is really possible for you
  • You are not entitled to a good life, just the pursuit of a good life
  • If you solve problems, you will make money. The harder the problem you solve, the more money you will make
  • Understand your audience, and make an impression on them
  • Up your vocabulary to seem smarter
  • Whatever you can conceive, within your circle of competence, you can achieve
  • Find what’s working, and then double down
  • Obstacles are the sign that you’re about to make big money
  • Anything that is easy will likely not make much money
  • Make up for problems with volume
  • You will always have a job of you are not afraid of the phone
Direct download: Tai_Lopez_-_10-13-17_V2.mp3
Category:general -- posted at: 2:00am PST

“You can never remove all uncertainty from your life, you just need to stack the deck in your favor” - Tai Lopez

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Do you understand the natural cycles of life? There are season of prosperity in any life, and the winter is when things dry up, when you don’t have as much going on, when your income is down and it seems like you can’t get anything off the ground. This is the time that you have to prepare for.

Those who have built real wealth have done so through an understanding of this, and a preparation for the winter. As long as you are prepared for the winter, you can weather the storm. The winter only destroys those who were foolish enough to think it would never come, and so never prepared for it.

Understand which season you are in, and live your life accordingly, with an understanding of the coming changes of season and preparation for those changes.

Don’t forget, you can listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“When things are good, prepare for the coming winter” -Tai Lopez

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Points to Keep In Mind

  • College can be one of the worst scams, depending on what your goals are
  • Colleges don’t even come with a money-back guarantee, which would force them to be useful to their students
  • You can never remove all uncertainty from your life, you just need to stack the deck in your favor
  • Understand the natural rhythms, and seasons, of life, and that not all times will be the best times for you
  • When things are good, prepare for the coming winter
  • The way you fight the winter is actively: Through education and preparation
  • The reason you don’t have as much money coming as you want is always because you don’t know well enough what you’re doing
  • We’re educated with a core premise that if you finish school and get a good job you will have security. That is no longer the case
  • You have a high chance of making money from something you already know how to do
Direct download: tai_lopez_-_10-12-17_V2_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PST

“Build on your strengths, rather than trying to get a different strength” - Tai Lopez

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People are much closer to their side hustle than they think. A lot of people think that they need to acquire new skills in order to start a side hustle, but the reality is that most people already have a fantastic skill, probably several, that could be turned into a side hustle.

Today, we’re talking with Chris Guillebeau about the 3 ways you can start building a side hustle immediately. Procrastination is the killer of hopes and dreams, so there really is no reason to wait, and Chris talks us through the 3 ways that you can start earning money on your own terms today.

Don’t forget, you can listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think.

“Procrastination is the killer of hopes and dreams” -Tai Lopez

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Points to Keep In Mind

  • Build on your strengths, rather than trying to get a different strength
  • Everyone's an expert in something, they just don’t always know it
  • Brainstorm through the things you’re good at, write them all down, to organize your potential ideas
  • Get things out in the world, even if you feel like it’s not ready, because you probably won’t ever think it’s ready
  • Procrastination is the killer of hopes and dreams
  • Some of those closest to you will become the people who mess up your world the most, because the will externalize their own paranoia
  • Don’t project your own insecurities about yourself on other people
  • If you can come up with $100, you can change your life financially
  • People are often looking for a way to remove all insecurity in their life, but that is the wrong goal
  • Understand the cycles that will always come

3 Ways the Average Person Can Start a Side Hustle

  1. Look at the skills you already have, rather trying to get a new skill
  2. Don’t just have idea, go from idea to OFFER. The promise. How will this change your life?
  3. Launch before you think you’re ready
Direct download: Tai_Lopez_-_EP_10-11-17_V2.mp3
Category:general -- posted at: 2:00am PST

“Expect market crashes every 8 years or so” - Tai Lopez

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The stock market is on a steady schedule, it seems, of crashes every 8 years or so, with booms in between. The key is being able to make money both when the markets are up, and when they are down.

This episode shows you how to read the markets, to know the general trends, and have a good shot at being able to predict them correctly. While there are no guarantees, the trick is, just like poker, being able to play the hand you're dealt is what will help you win in the long run. It’s not about always being dealt the best hand, it’s about knowing how to play whichever hand you are dealt.

This episode will give you the tools you need to be able to understand the market swings and trends, and know how to make money during any market environment.

“The more risk, the higher the potential return. Understand that progression” -Tai Lopez

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Points to Keep In Mind

  • Capital markets will always swing back and forth
  • Contraction and expansion is just the natural state of things, including the market
  • Expect market crashes every 8 years or so
  • Learn how to make money both when the market goes up, and when it goes down
  • You don’t have to win all the time, you just have to do is win more than you lose
  • You have to learn how to adapt to the hand that is dealt you
  • Some of the wisest generals retreated
  • The more risk, the higher the potential return. Understand that progression
Direct download: tai_lopez_-_10-10-17_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PST

“The true value of anything is: The present value of future revenue” - Tai Lopez

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There are many different ways to go about the process of multiplying the money that you have, but the foundational first step is to begin to save. Americans on average save somewhere between -1% and 5%, which is far too little to make very good progress in building wealth.

But, after you have instilled the habits of saving required to be able to multiply your money and turn it into a significantly larger amount. Today I’m walking you through 9 ways to turn the money you have into much more, and going through some of the details involved in all of these methods.

While you do not have to have money to make money, it certainly is one of the fastest ways to go about it, and today you will learn the techniques you need to know to be able to multiply your money.

“The stock market is half real, and half based entirely on publicity” -Tai Lopez

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Points to Keep In Mind

  • The true value of anything is: The present value of future revenue
  • Apartments allow you to diversify your income
  • When you have both cashflow and equity in a project, that is the best diversification
  • The average savings rate is between -1% - 5%
  • The ability to save significant amounts will allow you to employ the below strategies to begin with. That is the foundation for the 9 ways
  • The stock market is half real, and half based entirely on publicity
  • Find ways to mix together the different ways listed below
  • If you’re not in a dominant position, don’t try to take a dominant stance in negotiation
  • Always take into consideration not exclusively what will make you the most money, but also what you will enjoy doing
  • Not having enough money is often used as an excuse, when there are almost always ways around it
  • You can expect cycles in markets every 4 years or so, with some level of “crash” around the 8 year period
  • In money, understand the natural progression of risk to return: The higher the return, the higher the risk usually
  • Always look for ways to make money beyond your own energy
  • Think about money like baseball: You don’t always need a homerun to win, singles get you ahead over time

9 Ways to Multiply Your Money

  1. Business/entrepreneurship
    1. Sales jobs
    2. E-commerce
    3. Physical
    1. Real estate
    2. Gold/Silver
    3. Commodities
  2. Hard assets
    1. Currencies
    2. Crypto
    3. The stock market
  3. Intangibles
Direct download: Tai_Lopez_-_10-9-17_EP.mp3
Category:general -- posted at: 2:00am PST

“A big percentage of the population compromises when it comes to relationships” - Tai Lopez

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On this best of the week episode, we’re talking about love and why its closest analogy may be hypnotism, why you can’t really trust someone who is in love, and why you need to treat your relationships and love life like you have a short amount of time left to live: Would you really be with this person if you only had a few months left to live?

We also dig into the topic of procrastination, and why people fall into the habit: The reality is that procrastination almost always stems from an incorrect understanding of the pain to reward ratio. If you understood exactly how worth it the pain was for the reward, or goal, you are seeking, you would not struggle so much with procrastination. Therefore, you must do whatever it takes to have that goal always in front of you, in mind, very tangible and very specific, to beat procrastination.

Plus, we talk about why regulations often lead to a worsening of the problem they were supposed to fix, and why mother nature will always laugh last.

“Respect yourself too much to stay with someone after you know they’re not right for you” -Tai Lopez

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Points to Keep In Mind

  • A big percentage of the population compromises when it comes to relationships
  • The closest analogy to love is hypnotism
  • Some people just love being in love, more than loving anyone individually
  • Most people have been messed up so badly by the time that they are 18 years old that they need a lot of help to get their mentality figured out
  • Do not have kids unless you think you’re ready to raise kids without messing up their mentality
  • Be very careful of anyone who scores highly on a dark triad test
  • Respect yourself too much to stay with someone after you know they’re not right for you
  • Keep your eye on a very specific prize to stay motivated and stop procrastinating
  • Most procrastination comes from an un-realistic view of the reward/pain ratio
  • If you knew the value of the rewards and goals you are striving toward, in their entirety, you would not struggle with procrastination
  • Develop good associations with the work you have to do
  • A lot of regulations have unintended side effects and consequence, some of which actually contribute to the problem that the regulation was trying to solve
  • Mother nature always laughs last
Direct download: tai_lopez_-_10-8-17_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PST

“Imagine you have 7 more months left in your life: What would you change?” - Tai Lopez

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A lot of people wish they had more attention from the opposite sex, especially guys wishing girls were always chasing them. But have you considered that the personality traits of someone who is likely to chase you may not ultimately be the personality traits you are looking for in a relationships?

Today’s episode is all about personalities, the dark triad of personality traits, and how you can use tests and an understanding of human behavior to spot people that may not be ideally suited to you and your own personality.

If you want to have a good life, relationships will be essential to that, and if you want good relationships, you need an understanding of personalities. That’s what we’re learning about on this episode of the Tai Lopez Show!

“Be very careful about anyone who scores high on the dark triad of personality characteristics” - Tai Lopez

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Points to Keep In Mind

  • Be very careful about anyone who scores high on the dark triad of personality characteristics:
    • Narcissism
    • Machiavellianism
    • Psychopathy
  • There are 5 aspects of narcissism:
    • Authority
    • Superiority
    • Exhibition
    • Vanity
    • Exploitativeness
  • Imagine you have 7 more months left in your life: What would you change?
Direct download: tai_lopez_-_10-7-17_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PST