How To Turn Your Annual Income Into Your Monthly Income

Summary

The speaker shares how he discovered the principle that it's easier to make large amounts of money quickly rather than small amounts over long periods. He uses analogies of leveraged transportation to prove his point. He then explains how this applies to careers and income levels, advising to move into careers involving communication rather than manual labor. He highlights how speaking and writing books can generate significant income. The key is to continually practice communication skills, which compounds over time, allowing you to exponentially increase income.

Takeaways

• 😀 You can turn your yearly income into monthly income by focusing on income producing assets rather than just being an income producing asset yourself.
• 🧠 Mindset and beliefs around money and wealth need to change in order to create more wealth.
• 💡 It's easier to make great financial strides through leverage rather than small advances over time.
• 🗣 Becoming a better communicator and thinker leads to higher income potential.
• 💰 There are four levels of value: implementation, unification, communication, and imagination. Working at higher levels brings higher income.
• ✍️ Anyone can write a book, start a YouTube channel, or find other ways to communicate value.
• 🚀 Consistent practice in communication over years leads to exponential growth.
• 💸 Income has a floor but no ceiling - you decide your financial potential.
• 😎 Wealth creation starts above managing people and doing the work yourself.
• 💡 All principles apply across disciplines and areas of life.

Q & A

What was the biggest financial breakthrough the speaker had in his life?

The speaker's biggest financial breakthrough was realizing he could turn his yearly income into his monthly income. This shifted his mindset to think bigger in terms of earning potential.

How does the speaker prove it's easier to make more money fast versus over time?

The speaker uses an analogy with running races - he shows that with leverage like bikes, cars, planes etc, you can go much further and faster, using less energy. This concept translates to business and making more money with the right leverage.

What is the speaker's favorite physics principle and why?

The speaker's favorite physics principle is that all principles are microcosms of each other. This means a principle that works in one arena can be applied to other arenas and still be true. This opened up new ways of thinking for the speaker when finding principles.

What are the four levels of value according to the Bible?

The four levels of value according to the Bible are: 1) Implementation 2) Unification 3) Communication 4) Imagination. Wealth begins at the communication level where you use your mouth to make money.

Why does communication allow you to make more money than physical labor?

You don't get paid based on effort or difficulty, but based on the value you deliver. Communication allows you to create messages that move masses and have conversations that create cash flow at scale.

How can anyone become a bestselling author?

The speaker explains that anyone can write a book and become an author. To become a bestseller, you need to market to your existing audience and niche. The speaker sold 900 copies himself in the first week by emailing his list.

How did the speaker grow his YouTube subscribers and income so fast?

After 14 years on YouTube, the speaker started posting 2 videos per week consistently. In just 4 months he went from 10.5k subscribers to making $44k per month on YouTube by being consistent with valuable content.

What does the speaker recommend to become a top communicator?

The speaker recommends reading books across disciplines to gather principles and concepts. Then practice applying those concepts and share what works. Consistent writing, speaking and recording will hone communication skills over time.

What is the benefit of turning yearly income into monthly income?

Thinking in terms of monthly income versus yearly income allows you to set bigger goals and visions. You can raise your income floor and remove limitations on your earning ceiling in alignment with your dreams.

What is the key deciding factor that allows you to earn more money?

The speaker emphasizes that decisions, not choices, are what determine your income growth. A real decision means cutting yourself off from any other possibility except the committed outcome. This conviction is key.