1 Piece of Advice to Make Tons of Money - Cold Wisdom - Episode 32 | Summary and Q&A

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February 5, 2024
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Sahil Bloom
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1 Piece of Advice to Make Tons of Money - Cold Wisdom - Episode 32

TL;DR

To make a lot of money, focus on creating immense value for the people around you and capturing a portion of that value.

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Questions & Answers

Q: What is the number one piece of advice for making a lot of money?

The key is to focus on creating immense value for the people you work with and for, and then capturing a portion of that value.

Q: Do you need to have a detailed plan or strategy to create value?

No, creating value can start with unassuming, subtle actions. It doesn't require a specific plan; just start by taking small steps to provide value to others.

Q: How can young people create value and opportunities for themselves?

Young people can create value by diving into opportunities, like the example of a 23-year-old guy who volunteered to open the gym every morning. By being reliable and proactive, they can build trust and be considered for future opportunities.

Q: Should you ask others how you can create value for them?

Instead of asking others how you can create value for them, take the initiative to research and understand their ecosystem. Identify what they might be missing or where you could fill a gap, and then offer your skills and ideas.

Summary & Key Takeaways

  • The key to making a lot of money is to create enormous value for the people you work with and for, and then capturing a portion of that value.

  • Creating value for others doesn't require a detailed plan or strategy; it can start with unassuming, subtle actions.

  • Young people can create value by diving into opportunities, being reliable, and going above and beyond expectations.

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