Writing for readers:

14 years of daily writing.

I post practically everything on social media. I authored hundreds of articles, thousands of tweets, and numerous volumes to almost no one.

Tens of thousands of readers regularly praise me.

I despised writing. I'm stuck now.

I've learned what readers like and what doesn't.

Here are some essential guidelines for writing with impact:

Readers won't understand your work if you can't.

Though obvious, this slipped me up. Share your truths.

Stories engage human brains.

Showing the journey of a person from worm to butterfly inspires the human spirit.

Overthinking hinders powerful writing.

The best ideas come from inner understanding in between thoughts.

Avoid writing to find it. Write.

Writing a masterpiece isn't motivating.

Write for five minutes to simplify. Step-by-step, entertaining, easy steps.

Good writing requires a willingness to make mistakes.

So write loads of garbage that you can edit into a good piece.

Courageous writing.

A courageous story will move readers. Personal experience is best.

Go where few dare.

Templates, outlines, and boundaries help.

Limitations enhance writing.

Excellent writing is straightforward and readable, removing all the unnecessary fat.

Use five words instead of nine.

Use ordinary words instead of uncommon ones.

Readers desire relatability.

Too much perfection will turn it off.

Write to solve an issue if you can't think of anything to write.

Instead, read to inspire. Best authors read.

Every tweet, thread, and novel must have a central idea.

What's its point?

This can make writing confusing.

️ Don't direct your reader.

Readers quit reading. Demonstrate, describe, and relate.

Even if no one responds, have fun. If you hate writing it, the reader will too.

What Is That?

Berkus is a pre-revenue valuation method based exclusively on qualitative criteria, like Scorecard.

Few firms match their financial estimates, especially in the early stages, so valuation methodologies like the Berkus method are a good way to establish a valuation when the economic measures are not reliable.

How does it work?

This technique evaluates five key success factors.

• Fundamental principle

• Technology

• Execution

• Strategic alliances in its primary market

• Production, followed by sales

The Berkus technique values the business idea and four success factors. As seen in the matrix below, each of these dimensions poses a danger to the startup's success.

It assigns $0-$500,000 to each of these beginning regions. This approach enables a maximum $2.5M pre-money valuation.

This approach relies significantly on geography and uses the US as a baseline, as it differs in every country in Europe.

A set of standards for analyzing each dimension individually

Fundamental principle (or strength of the idea)

Ideas are worthless; execution matters. Most of us can relate to seeing a new business open in our area or a startup get funded and thinking, "I had this concept years ago!" Someone did it.

The concept remains. To assess the idea's viability, we must consider several criteria.

• The concept's exclusivity It is necessary to protect a product or service's concept using patents and copyrights. Additionally, it must be capable of generating large profits.

• Planned growth and growth that goes in a specific direction have a lot of potential, therefore incorporating them into a business is really advantageous.

• The ability of a concept to grow A venture's ability to generate scalable revenue is a key factor in its emergence and continuation. A startup needs a scalable idea in order to compete successfully in the market.

• The attraction of a business idea to a broad spectrum of people is significantly influenced by the current socio-political climate. Thus, the requirement for the assumption of conformity.

• Concept Validation Ideas must go through rigorous testing with a variety of audiences in order to lower risk during the implementation phase.

Technology (Prototype)

This aspect reduces startup's technological risk. How good is the startup prototype when facing cyber threats, GDPR compliance (in Europe), tech stack replication difficulty, etc.?

Execution

Check the management team's efficacy. A potential angel investor must verify the founders' experience and track record with previous ventures. Good leadership is needed to chart a ship's course.

Strategic alliances in its primary market

Existing and new relationships will play a vital role in the development of both B2B and B2C startups. What are the startup's synergies? potential ones?

Production, followed by sales (product rollout)

Startup success depends on its manufacturing and product rollout. It depends on the overall addressable market, the startup's ability to market and sell their product, and their capacity to provide consistent, high-quality support.

Example

We're now founders of EyeCaramba, a machine vision-assisted streaming platform. My imagination always goes to poor puns when naming a startup.

Since we're first-time founders and the Berkus technique depends exclusively on qualitative methods and the evaluator's skill, we ask our angel-investor acquaintance for a pre-money appraisal of EyeCaramba.

Our friend offers us the following table:

Because we're first-time founders, our pal lowered our Execution score. He knows the idea's value and that the gaming industry is red-hot, with worse startup ideas getting funded, therefore he gave the Basic value the highest value (idea).

EyeCaramba's pre-money valuation is $400,000 + $250,000 + $75,000 + $275,000 + $164,000 (1.16M). Good.

References

• https://medium.com/humble-ventures/how-angel-investors-value-pre-revenue-startups-part-iii-8271405f0774#:~:text=pre%2Drevenue%20startups.-,Berkus%20Method,potential%20of%20the%20idea%20itself.%E2%80%9D

• https://eqvista.com/berkus-valuation-method-for-startups/

• https://www.venionaire.com/early-stage-startup-valuation-part-2-the-berkus-method/

Unexpected Success

Shopify CEO and co-founder Tobias Lutke. Shopify is worth $48 billion.

World-renowned entrepreneur Tobi

Tobi never expected his first online snowboard business to become a multimillion-dollar software corporation.

Tobi founded Shopify to establish a 20-person company.

The publicly traded corporation employs over 10,000 people.

Here's Tobi Lutke's incredible story.

Elon Musk tweeted his admiration for the Shopify creator.

30-October-2019.

Musk praised Shopify founder Tobi Lutke on Twitter.

Happened:

Explore this programmer's journey.

What difficulties did Tobi experience as a young child?

Germany raised Tobi.

Tobi's parents realized he was smart but had trouble learning as a toddler.

Tobi was learning disabled.

Tobi struggled with school tests.

Tobi's learning impairments were undiagnosed.

Tobi struggled to read as a dyslexic.

Tobi also found school boring.

Germany's curriculum didn't inspire Tobi's curiosity.

“The curriculum in Germany was taught like here are all the solutions you might find useful later in life, spending very little time talking about the problem…If I don’t understand the problem I’m trying to solve, it’s very hard for me to learn about a solution to a problem.”

Studying computer programming

After tenth grade, Tobi decided school wasn't for him and joined a German apprenticeship program.

This curriculum taught Tobi software engineering.

He was an apprentice in a small Siemens subsidiary team.

Tobi worked with rebellious Siemens employees.

Team members impressed Tobi.

Tobi joined the team for this reason.

Tobi was pleased to get paid to write programming all day.

His life could not have been better.

Devoted to snowboarding

Tobi loved snowboarding.

He drove 5 hours to ski at his folks' house.

His friends traveled to the US to snowboard when he was older.

However, the cheap dollar conversion rate led them to Canada.

2000.

Tobi originally decided to snowboard instead than ski.

Snowboarding captivated him in Canada.

On the trip to Canada, Tobi encounters his wife.

Tobi meets his wife Fiona McKean on his first Canadian ski trip.

They maintained in touch after the trip.

Fiona moved to Germany after graduating.

Tobi was a startup coder.

Fiona found work in Germany.

Her work included editing, writing, and academics.

“We lived together for 10 months and then she told me that she need to go back for the master's program.”

With Fiona, Tobi immigrated to Canada.

Fiona invites Tobi.

Tobi agreed to move to Canada.

Programming helped Tobi move in with his girlfriend.

Tobi was an excellent programmer, therefore what he did in Germany could be done anywhere.

He worked remotely for his German employer in Canada.

Tobi struggled with remote work.

Due to poor communication.

No slack, so he used email.

Programmers had trouble emailing.

Tobi's startup was developing a browser.

After the dot-com crash, individuals left that startup.

It ended.

Tobi didn't intend to work for any major corporations.

Tobi left his startup.

He believed he had important skills for any huge corporation.

He refused to join a huge corporation.

Because of Siemens.

Tobi learned to write professional code and about himself while working at Siemens in Germany.

Siemens culture was odd.

Employees were distrustful.

Siemens' rigorous dress code implies that the corporation doesn't trust employees' attire.

It wasn't Tobi's place.

“There was so much bad with it that it just felt wrong…20-year-old Tobi would not have a career there.”

Focused only on snowboarding

Tobi lived in Ottawa with his girlfriend.

Canada is frigid in winter.

Ottawa's winters last.

Almost half a year.

Tobi wanted to do something worthwhile now.

So he snowboarded.

Tobi began snowboarding seriously.

He sought every snowboarding knowledge.

He researched the greatest snowboarding gear first.

He created big spreadsheets for snowboard-making technologies.

Tobi grew interested in selling snowboards while researching.

He intended to sell snowboards online.

He had no choice but to start his own company.

A small local company offered Tobi a job.

Interested.

He must sign papers to join the local company.

He needed a work permit when he signed the documents.

Tobi had no work permit.

He was allowed to stay in Canada while applying for permanent residency.

“I wasn’t illegal in the country, but my state didn’t give me a work permit. I talked to a lawyer and he told me it’s going to take a while until I get a permanent residency.”

Tobi's lawyer told him he cannot get a work visa without permanent residence.

His lawyer said something else intriguing.

Tobis lawyer advised him to start a business.

Tobi declined this local company's job offer because of this.

Tobi considered opening an internet store with his technical skills.

He sold snowboards online.

“I was thinking of setting up an online store software because I figured that would exist and use it as a way to sell snowboards…make money while snowboarding and hopefully have a good life.”

What brought Tobi and his co-founder together, and how did he support Tobi?

Tobi lived with his girlfriend's parents.

In Ottawa, Tobi encounters Scott Lake.

Scott was Tobis girlfriend's family friend and worked for Tobi's future employer.

Scott and Tobi snowboarded.

Tobi pitched Scott his snowboard sales software idea.

Scott liked the idea.

They planned a business together.

“I was looking after the technology and Scott was dealing with the business side…It was Scott who ended up developing relationships with vendors and doing all the business set-up.”

Issues they ran into when attempting to launch their business online

Neither could afford a long-term lease.

That prompted their online business idea.

They would open a store.

Tobi anticipated opening an internet store in a week.

Tobi seeks open-source software.

Most existing software was pricey.

Tobi and Scott couldn't afford pricey software.

“In 2004, I was sitting in front of my computer absolutely stunned realising that we hadn’t figured out how to create software for online stores.”

They required software to:

• to upload snowboard images to the website.

• people to look up the types of snowboards that were offered on the website. There must be a search feature in the software.

• Online users transmit payments, and the merchant must receive them.

• notifying vendors of the recently received order.

No online selling software existed at the time.

Online credit card payments were difficult.

How did they advance the software while keeping expenses down?

Tobi and Scott needed money to start selling snowboards.

Tobi and Scott funded their firm with savings.

“We both put money into the company…I think the capital we had was around CAD 20,000(Canadian Dollars).”

Despite investing their savings.

They minimized costs.

They tried to conserve.

No office rental.

They worked in several coffee shops.

Tobi lived rent-free at his girlfriend's parents.

He installed software in coffee cafes.

How were the software issues handled?

Tobi found no online snowboard sales software.

Two choices remained:

1. Change your mind and try something else.

2. Use his programming expertise to produce something that will aid in the expansion of this company.

Tobi knew he was the sole programmer working on such a project from the start.

“I had this realisation that I’m going to be the only programmer who has ever worked on this, so I don’t have to choose something that lots of people know. I can choose just the best tool for the job…There is been this programming language called Ruby which I just absolutely loved ”

Ruby was open-source and only had Japanese documentation.

Latin is the source code.

Tobi used Ruby twice.

He assumed he could pick the tool this time.

Why not build with Ruby?

How did they find their first time operating a business?

Tobi writes applications in Ruby.

He wrote the initial software version in 2.5 months.

Tobi and Scott founded Snowdevil to sell snowboards.

Tobi coded for 16 hours a day.

His lifestyle was unhealthy.

He enjoyed pizza and coke.

“I would never recommend this to anyone, but at the time there was nothing more interesting to me in the world.”

Their initial purchase and encounter with it

Tobi worked in cafes then.

“I was working in a coffee shop at this time and I remember everything about that day…At some time, while I was writing the software, I had to type the email that the software would send to tell me about the order.”

Tobi recalls everything.

He checked the order on his laptop at the coffee shop.

Pennsylvanian ordered snowboard.

Tobi walked home and called Scott. Tobi told Scott their first order.

They loved the order.

How were people made aware about Snowdevil?

2004 was very different.

Tobi and Scott attempted simple website advertising.

Google AdWords was new.

Ad clicks cost 20 cents.

Online snowboard stores were scarce at the time.

Google ads propelled the snowdevil brand.

Snowdevil prospered.

They swiftly recouped their original investment in the snowboard business because to its high profit margin.

Tobi and Scott struggled with inventories.

“Snowboards had really good profit margins…Our biggest problem was keeping inventory and getting it back…We were out of stock all the time.”

Selling snowboards returned their investment and saved them money.

They did not appoint a business manager.

They accomplished everything alone.

Sales dipped in the spring, but something magical happened.

Spring sales plummeted.

They considered stocking different boards.

They naturally wanted to add boards and grow the business.

However, magic occurred.

Tobi coded and improved software while running Snowdevil.

He modified software constantly. He wanted speedier software.

He experimented to make the software more resilient.

Tobi received emails requesting the Snowdevil license.

They intended to create something similar.

“I didn’t stop programming, I was just like Ok now let me try things, let me make it faster and try different approaches…Increasingly I got people sending me emails and asking me If I would like to licence snowdevil to them. People wanted to start something similar.”

Software or skateboards, your choice

Scott and Tobi had to choose a hobby in 2005.

They might sell alternative boards or use software.

The software was a no-brainer from demand.

Daniel Weinand is invited to join Tobi's business.

Tobis German best friend is Daniel.

Tobi and Scott chose to use the software.

Tobi and Scott kept the software service.

Tobi called Daniel to invite him to Canada to collaborate.

Scott and Tobi had quit snowboarding until then.

How was Shopify launched, and whence did the name come from?

The three chose Shopify.

Named from two words.

First:

• Shop

Final part:

• Simplify

Shopify

Shopify's crew has always had one goal:

• creating software that would make it simple and easy for people to launch online storefronts.

Launched Shopify after raising money for the first time.

Shopify began fundraising in 2005.

First, they borrowed from family and friends.

They needed roughly $200k to run the company efficiently.

$200k was a lot then.

When questioned why they require so much money. Tobi told them to trust him with their goals. The team raised seed money from family and friends.

Shopify.com has a landing page. A demo of their goal was on the landing page.

In 2006, Shopify had about 4,000 emails.

Shopify rented an Ottawa office.

“We sent a blast of emails…Some people signed up just to try it out, which was exciting.”

How things developed after Scott left the company

Shopify co-founder Scott Lake left in 2008.

Scott was CEO.

“He(Scott) realized at some point that where the software industry was going, most of the people who were the CEOs were actually the highly technical person on the founding team.”

Scott leaving the company worried Tobi.

Tobis worried about finding a new CEO.

To Tobi:

A great VC will have the network to identify the perfect CEO for your firm.

Tobi started visiting Silicon Valley to meet with venture capitalists to recruit a CEO.

Initially visiting Silicon Valley

Tobi came to Silicon Valley to start a 20-person company.

This company creates eCommerce store software.

Tobi never wanted a big corporation. He desired a fulfilling existence.

“I stayed in a hostel in the Bay Area. I had one roommate who was also a computer programmer. I bought a bicycle on Craiglist. I was there for a week, but ended up staying two and a half weeks.”

Tobi arrived unprepared.

When venture capitalists asked him business questions.

He answered few queries.

Tobi didn't comprehend VC meetings' terminology.

He wrote the terms down and looked them up.

Some were fascinated after he couldn't answer all these queries.

“I ended up getting the kind of term sheets people dream about…All the offers were conditional on moving our company to Silicon Valley.”

Canada received Tobi.

He wanted to consult his team before deciding. Shopify had five employees at the time.

2008.

A global recession greeted Tobi in Canada. The recession hurt the market.

His term sheets were useless.

The economic downturn in the world provided Shopify with a fantastic opportunity.

The global recession caused significant job losses.

Fired employees had several ideas.

They wanted online stores.

Entrepreneurship was desired. They wanted to quit work.

People took risks and tried new things during the global slump.

Shopify subscribers skyrocketed during the recession.

“In 2009, the company reached neutral cash flow for the first time…We were in a position to think about long-term investments, such as infrastructure projects.”

Then, Tobi Lutke became CEO.

How did Tobi perform as the company's CEO?

“I wasn’t good. My team was very patient with me, but I had a lot to learn…It’s a very subtle job.”

2009–2010.

Tobi limited the company's potential.

He deliberately restrained company growth.

Tobi had one costly problem:

• Whether Shopify is a venture or a lifestyle business.

The company's annual revenue approached $1 million.

Tobi battled with the firm and himself despite good revenue.

His wife was supportive, but the responsibility was crushing him.

“It’s a crushing responsibility…People had families and kids…I just couldn’t believe what was going on…My father-in-law gave me money to cover the payroll and it was his life-saving.”

Throughout this trip, everyone supported Tobi.

They believed it.

$7 million in donations received

Tobi couldn't decide if this was a lifestyle or a business.

Shopify struggled with marketing then.

Later, Tobi tried 5 marketing methods.

He told himself that if any marketing method greatly increased their growth, he would call it a venture, otherwise a lifestyle.

The Shopify crew brainstormed and voted on marketing concepts.

Tested.

“Every single idea worked…We did Adwords, published a book on the concept, sponsored a podcast and all the ones we tracked worked.”

To Silicon Valley once more

Shopify marketing concepts worked once.

Tobi returned to Silicon Valley to pitch investors.

He raised $7 million, valuing Shopify at $25 million.

All investors had board seats.

“I find it very helpful…I always had a fantastic relationship with everyone who’s invested in my company…I told them straight that I am not going to pretend I know things, I want you to help me.”

Tobi developed skills via running Shopify.

Shopify had 20 employees.

Leaving his wife's parents' home

Tobi left his wife's parents in 2014.

Tobi had a child.

Shopify has 80,000 customers and 300 staff in 2013.

Public offering in 2015

Shopify investors went public in 2015.

Shopify powers 4.1 million e-Commerce sites.

Shopify stores are 65% US-based.

It is currently valued at $48 billion.

Quick, easy and tasty (and dollops of parenting around food).

My wife and mom are both great mothers. They're super-efficient planners. They soak and ferment food. My 104-year-old grandfather loved fermented foods.

When I'm hungry and need something fast, I waffle to the pantry. Like most people, I like to improvise. I wish I knew these 11 hacks sooner.

1. The world's best pasta sauce only has 3 ingredients.

You watch recipe videos with prepped ingredients. In reality, prepping and washing take time. The food's taste isn't guaranteed. The raw truth at a sublime level is not talked about often.

Sometimes a radical recipe comes along that's so easy and tasty, you're dumbfounded. The Classic Italian Cook Book has a pasta recipe.

One 28-ounce can of whole, peeled tomatoes, one medium peeled onion, and 5 tablespoons of butter. And salt to taste.

Combine everything in a single pot and simmer for 45 minutes, uncovered. Stir occasionally. Toss the onion halves after 45 minutes and pour the sauce over pasta. Finish!

This simple recipe fights our deepest fears.

Salt to taste! Customized to perfection, no frills.

2. Reheating rice with ice. Magical.

Most of the world eats rice. I was raised in south India. My grandfather farmed rice in the Cauvery river delta.

The problem with rice With growing kids, you can't cook just enough. Leftovers are a norm. Microwaves help most people. Ice cubes are the frosting.

Before reheating rice in the microwave, add an ice cube. The ice will steam the rice, making it fluffy and delicious again.

3. Pineapple leaf 

if it comes off easy, it is ripe enough to cut. No rethinking.

My daughter loves pineapples like her dad. One daddy task is cutting them. Sharing immediate results is therapeutic.

Timing the cut has been the most annoying part over the years. The pineapple leaf tip reveals the fruitiness inside. Always loved it.

4. Magic knife words (rolling and curling)

Cutting hand: Roll the blade's back, not its tip, to cut.

Other hand: If you can’t see your finger tips, you can’t cut them. So curl your fingers.

I dislike that schools don't teach financial literacy or cutting skills.

My wife and I used scissors differently for 25 years. We both used the thumb. My index finger, her middle. We googled the difference when I noticed it and laughed. She's right.

This video teaches knifing skills:

5. Best advice about heat

If it's done in the pan, it's overdone on the plate.

This simple advice stands out when we worry about ingredients and proportions.

6. The truth about pasta water

Pasta water should be sea-salty.

Properly seasoning food separates good from great. Salt depends is a good line.

Want delicious pasta? Well, then kind of a lot, to be perfectly honest.

7. Clean as you go

Clean blender as you go by blending water and dish soap.

I find clean as you go easier than clean afterwords. This easy tip is gold.

8. Clean as you go (bis)

Microwave a bowl of water, vinegar, and a toothpick for 5 minutes.

2 cups water, 2 tablespoons vinegar, and a toothpick to prevent overflow.

5-minute microwave. Let the steam work for another 2 minutes. Sponge-off dirt and food. Simple.

9 and 10. Tools,tools, tools

Immersion blender and pressure cooker save time and money.

Narrative: I experienced fatherly pride. My middle-schooler loves science. We discussed boiling. I spoke. Water doesn't need 100°C to boil. She looked confused. 100 degrees assume something. The world around the water is a normal room. Changing water pressure affects its boiling point. This saves energy. Pressure cooker magic.

I captivated her. She's into science and sustainable living.

Whistling is a subliminal form of self-expression when done right. Pressure cookers remind me of simple pleasures.

Your handiness depends on your home tools. Immersion blenders are great for pre- and post-cooking. It eliminates chopping and washing. Second to the dishwasher, in my opinion.

11. One pepper is plenty

A story I share with my daughters.

Once, everyone thought about spice (not spicy). More valuable than silk. One of the three mighty oceans was named after a source country. Columbus sailed the wrong way and found America. The explorer called the natives after reaching his spice destination.

It was pre-internet days. His Google wasn't working.

My younger daughter listens in awe. Strong roots. Image cast. She can contextualize one of the ocean names.

I struggle with spices in daily life. Combinations are mind-boggling. I have more spices than Columbus. Flavor explosion has repercussions. You must closely follow the recipe without guarantees. Best aha. Double down on one spice and move on. If you like it, it's great.

I naturally gravitate towards cumin soups, fennel dishes, mint rice, oregano pasta, basil thai curry and cardamom pudding.

Variety enhances life. Each of my dishes is unique.

To each their own comfort food and nostalgic memories.

Happy living!

Taking great financial advice is key to financial success.

A wealthy man told me to INVEST MY MONEY when I was young.

As I entered Starbucks, an older man was leaving. I noticed his watch and expensive-looking shirt, not like the guy in the photo, but one made of fine fabric like vicuna wool, which can only be shorn every two to three years. His Bentley confirmed my suspicions about his wealth.

This guy looked like James Bond, so I asked him how to get rich like him.

"Drug dealer?" he laughed.

Whether he was telling the truth, I'll never know, and I didn't want to be an accessory, but he quickly added, "Kid, invest your money; it will do wonders." He left.

When he told me to invest, he didn't say what. Later, I realized the investment game has so many levels that even if he drew me a blueprint, I wouldn't understand it.

The best advice I received was to invest my earnings. I must decide where to invest.

I'll preface by saying I'm not a financial advisor or Your financial advisor, but I'll share what I've learned from books, links, and sources. The rest is up to you.

Basically:

Invest your Money

Money is money, whether you call it cake, dough, moolah, benjamins, paper, bread, etc.

If you're lucky, you can buy one of the gold shirts in the photo.

Investing your money today means putting it towards anything that could be profitable.

According to the website Investopedia:
“Investing is allocating money to generate income or profit.”

You can invest in a business, real estate, or a skill that will pay off later.

Everyone has different goals and wants at different stages of life, so investing varies.

He was probably a sugar daddy with his Bentley, nice shirt, and Rolex.

In my twenties, I started making "good" money; now, in my forties, with a family and three kids, I'm building a legacy for my grandkids.

“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” — Robert Kiyosaki.

Money isn't evil, but lack of it is.

Financial stress is a major source of problems, according to studies. 

Being broke hurts, especially if you want to provide for your family or do things.

“An investment in knowledge pays the best interest.” — Benjamin Franklin.

Investing in knowledge is invaluable. Before investing, do your homework.

You probably didn't learn about investing when you were young, like I didn't. My parents were in survival mode, making investing difficult.

In my 20s, I worked in banking to better understand money.

So, why invest?

Growth requires investment.

Investing puts money to work and can build wealth. Your money may outpace inflation with smart investing. Compounding and the risk-return tradeoff boost investment growth.

Investing your money means you won't have to work forever — unless you want to.

Two common ways to make money are;

-working hard,

and

-interest or capital gains from investments.

Capital gains can help you invest.

“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen

If you keep your money in a savings account, you'll earn less than 2% interest at best; the bank makes money by loaning it out.

Savings accounts are a safe bet, but the low-interest rates limit your gains.

Don't skip it. An emergency fund should be in a savings account, not the market.

Other reasons to invest:

Investing can generate regular income.

If you own rental properties, the tenant's rent will add to your cash flow.

Daily, weekly, or monthly rentals (think Airbnb) generate higher returns year-round.

Capital gains are taxed less than earned income if you own dividend-paying or appreciating stock.

Time is on your side

“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t — pays it.” — Albert Einstein

Historical data shows that young investors outperform older investors. So you can use compound interest over decades instead of investing at 45 and having less time to earn.

If I had taken that man's advice and invested in my twenties, I would have made a decent return by my thirties. (Depending on my investments)

So for those who live a YOLO (you only live once) life, investing can't hurt.

Investing increases your knowledge.

Lessons are clearer when you're invested. Each win boosts confidence and draws attention to losses. Losing money prompts you to investigate.

Before investing, I read many financial books, but I didn't understand them until I invested.

Now what?

What do you invest in? Equities, mutual funds, ETFs, retirement accounts, savings, business, real estate, cryptocurrencies, marijuana, insurance, etc.

The key is to start somewhere. Know you don't know everything. You must care.

“A journey of a thousand miles must begin with a single step.” — Lao Tzu.

Start simple because there's so much information. My first investment book was:

Robert Kiyosaki's "Rich Dad, Poor Dad"

This easy-to-read book made me hungry for more. This book is about the money lessons rich parents teach their children, which poor and middle-class parents neglect. The poor and middle-class work for money, while the rich let their assets work for them, says Kiyosaki.

There is so much to learn, but you gotta start somewhere.

More books:

***Wisdom

I hope I'm not suggesting that investing makes everything rosy. Remember three rules:

1. Losing money is possible.

2. Losing money is possible.

3. Losing money is possible.

You can lose money, so be careful.

Read, research, invest.

Golden rules for Investing your money

• Never invest money you can't lose.

• Financial freedom is possible regardless of income.

• "Courage taught me that any sound investment will pay off, no matter how bad a crisis gets." Helu Carlos

• "I'll tell you Wall Street's secret to wealth. When others are afraid, you're greedy. You're afraid when others are greedy. Buffett

• Buy low, sell high, and have an exit strategy.

• Ask experts or wealthy people for advice.

• "With a good understanding of history, we can have a clear vision of the future." Helu Carlos

• "It's not whether you're right or wrong, but how much money you make when you're right." Soros

• "The individual investor should act as an investor, not a speculator." Graham

• "It's different this time" is the most dangerous investment phrase. Templeton

Lastly,

• Avoid quick-money schemes. Building wealth takes years, not months.

Start small and work your way up.

Thanks for reading!

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Smarter work yields better results.

17-year-old me worked and studied 20 hours a day. During school breaks, I did coursework and ran a nonprofit at night. Long hours earned me national campaigns, A-list opportunities, and a great career. As I aged, my thoughts changed. Working harder isn't necessarily the key to success.

In some cases, doing less work might lead to better outcomes.

Consider a hard-working small business owner. He can't beat his corporate rivals by working hard. Time's limited. An entrepreneur can work 24 hours a day, 7 days a week, but a rival can invest more money, create a staff, and put in more man hours. Why have small startups done what larger companies couldn't? Facebook paid $1 billion for 13-person Instagram. Snapchat, a 30-person startup, rejected Facebook and Google bids. Luck and efficiency each contributed to their achievement.

The key to success is not working hard. It’s working smart.

Being busy and productive are different. Busy doesn't always equal productive. Productivity is less about time management and more about energy management. Life's work. It's using less energy to obtain more rewards. I cut my work week from 80 to 40 hours and got more done. I value simplicity.

Here are seven activities I gave up in order to be more productive.

1. Give up working extra hours and boost productivity instead.

When did the five-day, 40-hour work week start? Henry Ford, Ford Motor Company founder, experimented with his workers in 1926.

He decreased their daily hours from 10 to 8, and shortened the work week from 6 days to 5. As a result, he saw his workers’ productivity increase.

According to a 1980 Business Roundtable report, Scheduled Overtime Effect on Construction Projects, the more you work, the less effective and productive you become.

“Where a work schedule of 60 or more hours per week is continued longer than about two months, the cumulative effect of decreased productivity will cause a delay in the completion date beyond that which could have been realized with the same crew size on a 40-hour week.” Source: Calculating Loss of Productivity Due to Overtime Using Published Charts — Fact or Fiction

AlterNet editor Sara Robinson cited US military research showing that losing one hour of sleep per night for a week causes cognitive impairment equivalent to a.10 blood alcohol level. You can get fired for showing up drunk, but an all-nighter is fine.

Irrespective of how well you were able to get on with your day after that most recent night without sleep, it is unlikely that you felt especially upbeat and joyous about the world. Your more-negative-than-usual perspective will have resulted from a generalized low mood, which is a normal consequence of being overtired. More important than just the mood, this mind-set is often accompanied by decreases in willingness to think and act proactively, control impulses, feel positive about yourself, empathize with others, and generally use emotional intelligence. Source: The Secret World of Sleep: The Surprising Science of the Mind at Rest

To be productive, don't overwork and get enough sleep. If you're not productive, lack of sleep may be to blame. James Maas, a sleep researcher and expert, said 7/10 Americans don't get enough sleep.

Did you know?

• Leonardo da Vinci slept little at night and frequently took naps.

• Napoleon, the French emperor, had no qualms about napping. He splurged every day.

• Even though Thomas Edison felt self-conscious about his napping behavior, he regularly engaged in this ritual.

• President Franklin D. Roosevelt's wife Eleanor used to take naps before speeches to increase her energy.

• The Singing Cowboy, Gene Autry, was known for taking regular naps in his dressing area in between shows.

• Every day, President John F. Kennedy took a siesta after eating his lunch in bed.

• Every afternoon, oil businessman and philanthropist John D. Rockefeller took a nap in his office.

• It was unavoidable for Winston Churchill to take an afternoon snooze. He thought it enabled him to accomplish twice as much each day.

• Every afternoon around 3:30, President Lyndon B. Johnson took a nap to divide his day into two segments.

• Ronald Reagan, the 40th president, was well known for taking naps as well.

Source: 5 Reasons Why You Should Take a Nap Every Day — Michael Hyatt

Since I started getting 7 to 8 hours of sleep a night, I've been more productive and completed more work than when I worked 16 hours a day. Who knew marketers could use sleep?

2. Refrain from accepting too frequently

Pareto's principle states that 20% of effort produces 80% of results, but 20% of results takes 80% of effort. Instead of working harder, we should prioritize the initiatives that produce the most outcomes. So we can focus on crucial tasks. Stop accepting unproductive tasks.

“The difference between successful people and very successful people is that very successful people say “no” to almost everything.” — Warren Buffett

What should you accept? Why say no? Consider doing a split test to determine if anything is worth your attention. Track what you do, how long it takes, and the consequences. Then, evaluate your list to discover what worked (or didn't) to optimize future chores.

Most of us say yes more often than we should, out of guilt, overextension, and because it's simpler than no. Nobody likes being awful.

Researchers separated 120 students into two groups for a 2012 Journal of Consumer Research study. One group was educated to say “I can't” while discussing choices, while the other used “I don't”.

The students who told themselves “I can’t eat X” chose to eat the chocolate candy bar 61% of the time. Meanwhile, the students who told themselves “I don’t eat X” chose to eat the chocolate candy bars only 36% of the time. This simple change in terminology significantly improved the odds that each person would make a more healthy food choice.

Next time you need to say no, utilize I don't to encourage saying no to unimportant things.

The 20-second rule is another wonderful way to avoid pursuits with little value. Add a 20-second roadblock to things you shouldn't do or bad habits you want to break. Delete social media apps from your phone so it takes you 20 seconds to find your laptop to access them. You'll be less likely to engage in a draining hobby or habit if you add an inconvenience.

Lower the activation energy for habits you want to adopt and raise it for habits you want to avoid. The more we can lower or even eliminate the activation energy for our desired actions, the more we enhance our ability to jump-start positive change. Source: The Happiness Advantage: The Seven Principles of Positive Psychology That Fuel Success and Performance at Work

3. Stop doing everything yourself and start letting people help you

I once managed a large community and couldn't do it alone. The community took over once I burned out. Members did better than I could have alone. I learned about community and user-generated content.

Consumers know what they want better than marketers. Octoly says user-generated videos on YouTube are viewed 10 times more than brand-generated videos. 51% of Americans trust user-generated material more than a brand's official website (16%) or media coverage (22%). (14 percent). Marketers should seek help from the brand community.

Being a successful content marketer isn't about generating the best content, but cultivating a wonderful community.

We should seek aid when needed. We can't do everything. It's best to delegate work so you may focus on the most critical things. Instead of overworking or doing things alone, let others help.

Having friends or coworkers around can boost your productivity even if they can't help.

Just having friends nearby can push you toward productivity. “There’s a concept in ADHD treatment called the ‘body double,’ ” says David Nowell, Ph.D., a clinical neuropsychologist from Worcester, Massachusetts. “Distractable people get more done when there is someone else there, even if he isn’t coaching or assisting them.” If you’re facing a task that is dull or difficult, such as cleaning out your closets or pulling together your receipts for tax time, get a friend to be your body double. Source: Friendfluence: The Surprising Ways Friends Make Us Who We Are

4. Give up striving for perfection

Perfectionism hinders professors' research output. Dr. Simon Sherry, a psychology professor at Dalhousie University, did a study on perfectionism and productivity. Dr. Sherry established a link between perfectionism and productivity.

Perfectionism has its drawbacks.

• They work on a task longer than necessary.

• They delay and wait for the ideal opportunity. If the time is right in business, you are already past the point.

• They pay too much attention to the details and miss the big picture.

Marketers await the right time. They miss out.

The perfect moment is NOW.

5. Automate monotonous chores instead of continuing to do them.

A team of five workers who spent 3%, 20%, 25%, 30%, and 70% of their time on repetitive tasks reduced their time spent to 3%, 10%, 15%, 15%, and 10% after two months of working to improve their productivity.

Last week, I wrote a 15-minute Python program. I wanted to generate content utilizing Twitter API data and Hootsuite to bulk schedule it. Automation has cut this task from a day to five minutes. Whenever I do something more than five times, I try to automate it.

Automate monotonous chores without coding. Skills and resources are nice, but not required.  If you cannot build it, buy it.

People forget time equals money. Manual work is easy and requires little investigation. You can moderate 30 Instagram photographs for your UGC campaign. You need digital asset management software to manage 30,000 photographs and movies from five platforms. Filemobile helps individuals develop more user-generated content. You may buy software to manage rich media and address most internet difficulties.

Hire an expert if you can't find a solution. Spend money to make money, and time is your most precious asset.

Visit GitHub or Google Apps Script library, marketers. You may often find free, easy-to-use open source code.

6. Stop relying on intuition and start supporting your choices with data.

You may optimize your life by optimizing webpages for search engines.

Numerous studies might help you boost your productivity. Did you know individuals are most distracted from midday to 4 p.m.? This is what a Penn State psychology professor found. Even if you can't find data on a particular question, it's easy to run a split test and review your own results.

7. Stop working and spend some time doing absolutely nothing.

Most people don't know that being too focused can be destructive to our work or achievements. The Boston Globe's The Power of Lonely says solo time is excellent for the brain and spirit.

One ongoing Harvard study indicates that people form more lasting and accurate memories if they believe they’re experiencing something alone. Another indicates that a certain amount of solitude can make a person more capable of empathy towards others. And while no one would dispute that too much isolation early in life can be unhealthy, a certain amount of solitude has been shown to help teenagers improve their moods and earn good grades in school. Source: The Power of Lonely

Reflection is vital. We find solutions when we're not looking.

We don't become more productive overnight. It demands effort and practice. Waiting for change doesn't work. Instead, learn about your body and identify ways to optimize your energy and time for a happy existence.