The Line I thought I’d Never Write: What I learned From Tai Lopez
I try to learn from everyone! Tai Lopez has a reputation of being a big online scammer and his scammy ads. But I don’t know if that’s actually the case anymore. I’ve listened to several podcasts recently and he is really smart.
This show is worth listening to: https://www.youtube.com/watch?v=_Qn07rX79pU. He is clearly well read and full of interesting facts. And he has clearly done well in business.
I’ve learned a bunch of concepts from him.There are 5 big Habits to get health, wealth and happiness: Reading, Building, Networking, Breathing, Fasting.
Reading: Have 5 mentors: 2-3 from reading & virtual and 2-3 live.
Invest in yourself: take some seminars or conferences on online marketing. As Tai said: “You are one person away from a million bucks!”
Buy books and courses. Learn how you learn: by audio, by reading or by doing and apprenticeships through mentors. Educate yourself. Learn how to sell. “Sales will make you money. Sales will make you rich.”
2. Building Wealth. Be willing to trade time for money in the beginning and once you have money, put it into the 5 Assets.
The 5 Assets are: Software (Tech), Land (Real estate which could be farmland, commercial or residential), Brand (Personal brand or even branded companies like LVMH or other luxury brand businesses), Cash (Cash is King & liquid) & Crypto (Basically weird stuff: crypto, gold, bullets & guns).
Most of this is self explanatory. You need to have rural farmland that is a minimum of a solid hour away from the city. And you need guns and ammo to protect your family and gold.
3. Networking: Understand people and human psychology. Figure out how you can be helpful to people and build win-win friendships. True friends make money together.
4. Breathing: which i liken to exercise and physical fitness
5. Fasting: eating clean and well and also equates to having discipline in your life. I fast 13 hours every day and a long
24-48 hour one every other month. It cleans out your system which is good for your body.
I also learned the concept of “Thick” and “Thin” Markets from him. Let’s use dating as an example. If you like Latina’s then the American midwest and Europe probably are not so great for you as there are probably not very many Latina’s living or working there. And hence hard to meet anyone you find attractive. It’s a “thin” market. You are probably better off in Southern California or Florida or any place in Latin America which are “thick” markets full of Latina’s.
From a startup perspective, if you are looking for tech angels and VCs, Silicon Valley is hard to beat and would be considered a “thick” market. Kansas City would probably not be so great, so it’s a “thin” market. I think you get the point. If you are looking for tech companies as customers either go to Silicon Valley or go to tech specific conferences. This is where they congregate. If you are targeting doctors, go to a doctor’s convention. Go fish where the fish are.
The most interesting framework he shared when looking at the world is that of Princes, Kings and Warlords. Princes are young up and comers on the rise, rich but not wealthy. Maybe $5M in net worth. Every type A individual aims to be Kings, rich, powerful and top of the game. But he wisely notes that you want to be a king who people think are princes. If you are a king, everyone wants to take you down. Other kings and those below. Then there is another level of wealth and power which are Warlords. Almost always billionaires who play another game: one that is tough and even more brutal. There are always levels to levels.
Tai is an interesting character and has lots of insight on people and how to thrive in a capitalistic society. I recommend watching some of his interviews.