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Kindle Notes & Highlights
by
M.J. DeMarco
Read between
January 3 - July 14, 2022
After I taught myself a specialized-skill, web design, I sought to sell that skill.
welders,
puts you “on the clock” 24/7 for the rest of your life. The business system trades its time for money, replacing YOU as the method for trade. Whereas
The knowledge gap is the divide between what you need to know but don’t. This could range from a skill you lack, to a poorly executed marketing strategy, to a misinterpreted data point on a cultural trend.
Jeff looked into bitcoin and relented that it was “too complicated.” In the future, this will be a big missed opportunity simply because he wasn’t willing to close his knowledge gap. Just because something seems complicated, doesn’t mean you can’t learn it.
Learning anything new always seems complicated!
adjunctly
If you think about it, anytime you read a book, you’re getting a personal one-on-one mentorship with the author. In other words, countless experts, billionaires, scientists, and other leaders are willing to mentor you and help you close your knowledge gap.
Scripted rat racers don’t mind the knowledge gaps; they mind the cultural ones: the latest celebrity news, royal weddings, and dumb football games that won’t matter a mere week later.
What works today doesn’t work tomorrow.
beckoned
flippancy.
Cabernet.
incredulously,
a particular type of business which can yield asymmetrical returns.”
blindly following a bunch of strategies suggested by the scientists who control the lab rats. It’s time to turn the tables and be the ones who make the rules.
begrudgingly
grimace
you want to invest your skills in a specialized-unit and its business system.
stratosphere.
Impact millions, make millions.
The more people you affect, either in scale (width) or magnitude (depth), the more money you earn. Scale, or width, refers to the volume of sales you can possibly make—ten million phone cases sold at $1 profit on each equal ten million dollars.
Instead of wasting your time running the marathon, invest your time in a system that will leverage your effort, and eventually, run the marathon for you.
invest your time in a specialized-unit, the engine, and a business system,S19 the vehicle, you’re ditching the “time for money” orthodoxy.
Soon, one unit of effort can translate into ten units of movement—output goes asymmetrical.
gambits.
People don’t struggle because they’re lazy. Working five days a week for fifty years is not easy. People ultimately struggle because they’re stuck in the rat race on foot. Sandals and sneakers aren’t solutions—the levered vehicle is.
A business with bad math is also subject to rat race economics. Replace a time trade with a time investment in a specialized-unit and its business system and asymmetric returns become possible—one unit of work earns you five units of pay. Impact millions of lives, and you will make millions.
Consider a rat race escape like a long-distance marathon across the country. With a wage-locus, you walk the marathon in sandals, with a salary-locus, you jog the journey in sneakers, and with a profit-locus, you take the road in a leveraged vehicle. An operator can drive a leveraged vehicle, giving you a tool for freedom…
Polymorphic
Invest in Time, Stop Trading It
disclosed
monomorphic
you can invest your time just like money. And the yield on a good time investment pays more time, namely free time.
If you make $1,000 overnight from a business system (your past time investment), that’s $1,000 you don’t have to earn in the future. If you value your free time at $50 per hour, you just earned twenty hours of free time: 20 hours X $50 = $1,000.
polymorphically
Monomorphic pay, on the other hand, is the rat race’s default method of payment—trade time, earn money.
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Monomorphic pay is the only approved narrative for earning money inside the rat race. Hence, time, as it is culturally sold, is a conspirator against your freedom.
To convert time into an ally, you need to invest in time, not trade it.
you’re an investor of time seeking to get a yield of polymorphi...
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Warden Norton
hucksters
dreampreneurs.
Passive income is for amateurs, polymorphic pay is for the professionals.
Monomorphic pay is income earned for a direct trade of time for money, either by the hour, by the year, or by the unit.
Polymorphic pay is income earned from a past ...
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predatory
unassailable
The Consumer / Producer Principle states that your annual report reveals your role in the rat race.
