About the Episode 🎙️
This is a podcast episode from My First Million where the host Sam Parr answers the question of what he would do if he had to start over from scratch at age 25 with no money or special skills in 2024. He provides his strategy and mindset for building success.
Key Takeaways 💡
- (01:30) Don't get hung up on your age or feeling behind - your mindset should be that your whole future is ahead of you and you can reinvent yourself at any time.
- (03:19) In the 'learn' phase early in your career, prioritize gaining experience and surrounding yourself with ambitious, smart people in your desired field over earning a high salary.
- (06:40) Identify your unique strengths and advantages, including being a beginner that people want to help, having flexibility with your time, and having nothing to lose by taking risks.
- (16:13) Work on the highest priority 'A+' problems and projects that can have a major impact, not peripheral tasks.
- (20:44) Create 'luck' by taking action, publishing your thoughts online to attract interesting people, and putting yourself in environments with successful people you want to emulate.
- (23:45) Consider starting a service-based agency, aiming for $100k/month revenue by having 10 clients paying $10k each on retainer.
- (30:49) Invest money into buying back your time through hiring help, gaining knowledge from books/courses, and taking lower pay to work with great people.
- (34:09) Build core business skills first before chasing a noble mission, but don't wait forever - take action on your passion when you have enough runway.