How to Make Money No Object (with very little)

Why It’s Easier to Succeed if You Have Nothing to Lose

Written by Everett Bogue | Follow me on Twitter.

“If money were no object for me I’d…”

“When I win the lottery I’ll…”

I hear these sayings all the time, we all do.

I want to take a moment to help you discover how to make money no object with very little money.

Why? Because I honestly think the idea that you need to wait until you have a large amount of resources is holding people back from achieving a reality where they can live and work from anywhere — or whatever your plans are.

I feel that eliminating excuses through simple experimentation has gone a long way towards helping me discover my own full potential, and I hope this will too.

Why the risk is really what you fear to lose.

When we truly dissect the above excuses, we can see quite easily what is really at stake: losing everything.

We’re afraid if we pursue the reality that we always dreamed of, we’ll end up losing the reality that we have now.

So we wait for the day when money is no longer an object. When we’ve made the millions that will support our every dream and ambition.

There are two elements that make this assumption completely absurd.

First I’ll break down the assumptions, and tell you why they’re wrong. Second, I’ll show you how to make money no longer an object through one simple practice that I’m sure you’re already aware of.

…and they are:

1. You’ll never make millions if you never take risks.

People think that if they sit around at a desk, someday they’ll get promoted and make millions. This isn’t true, because employers have an infinite choice of hiring potential. Who are they going to hire when it’s time to fill a new position? Someone new, exciting, and who appears more ambitious than you in a 45 minute interview. Also, while you sit around, you’re getting older and your dreams are rapidly turning to stone.

2. You’re not simply going to ‘get lucky’.

You can’t win the lottery if you don’t play. Buying a lottery ticket is a risk you have to take for impossible odds. If you don’t play, you also can’t win. This is a metaphor, of course, because it’s dumb to actually play the lottery. If you don’t risk something, you can’t move to the next level.

Okay, so now that I’ve dispelled those myths, I want to show you to beat the system. How to make the risk of following your dreams negligible.

Reduce what you’re risking as much as possible.

Risking putting everything on the table when you have a lot to lose is an awful lot to ask. ‘What if I lose the Porsche? How will I ever survive?’

One of my heroes, Julien Smith the co-author of Trust Agents, has a saying that “Cultural Transparency ÷ Risk = Upward Mobility“. From my experiences, I genuinely believe this to be true.

In order to move up in society, you need to both take risks and learn about how the world actually works — which is oddly enough not how everyone tells you it works.

So this is what you need to do, in order to eliminate as much risk as possible in order to pursue your dreams — which could be much more profitable and ultimately rewarding than the life you’re currently leading.

1. Eliminate anything, and everything, in your life that you fear to lose.

You can’t feel the pain of loss if you have nothing to lose. Give away the Porsche, junk the flatscreen TV, downsize to a smaller house, donate the Gucci handbag to someone who doesn’t need to risk anything.

Make a list of everything you think you can’t live without.

Now, sell everything on that list.

You can keep your clothes and your laptop if you think you need them. Maybe you need shoes. Maybe you don’t!

All of you junk is holding you back from your pursuit of your dreams. It’s best if you eliminate everything to the point that you’re living out of a bag or somewhere close to that.

I’ve been living out of a bag for a year now, this is the single most important factor in my ability to take risks in order to build my business to be as profitable as it is now.

2. Pay off all of your debts.

Every debt that you take on makes it harder to take risks. If you pay off all of your debts and resolve never to take on another again, you’ll be able to risk it all so much easier.

For more on paying off your debts see my article on Minimalism Vs. Debt.

3. Start taking risks.

You have to start small. Now that you have nothing to lose, I want you to go ahead and start taking some small risks just to be uncomfortable. The object is simply to push your boundaries and nothing more:

A simple risk taking activity to inspire you:

During a busy rush hour commute I want you to go to a public place where, more than 150 people are present — public transit is best, but a mall or plaza can do, with headphones and some sort of music playing device such as an iPod.

Now, pick a song that’s danceable and has lyrics you know by heart. I usually do this with Smashing Pumpkin’s ‘Ava Adore‘, but you know what you know.

Now, turn the song on, walk into the middle of the public place and start dancing + singing as loud and as extravagantly as possible. Stay in one place in the most crowded location possible. Do not stop until the song is over. There is nothing illegal about singing and dancing, you will not get in trouble.

People will probably look at you like you’re a crazy person. That’s okay.

Once you’re done, just walk out of there like nothing ever happened.

I realize the idea of doing this is terrifying to a lot of people. Being weird is frowned upon everywhere.

The idea is not to be weird, or to attract attention, it’s to start exploring what it feels like to take a risk. You might look like a fool if your simple business bombs. You might feel bad when your wife asks where the Porsche went. Feeling weird is part of risk taking.

The truth of the matter is that you’ll never succeed if you don’t try.

And the easiest way to try is to have nothing to lose.

I believe this is one of the fundamental lessons behind Minimalist Business.





24 Hours in the Life of Everett Bogue

Written by Everett Bogue | Follow me on Twitter.

Me, on a not-so-average day, sailing

I’ve been receiving a considerable number of emails and Twitter messages asking for me to write about my average day.

So yesterday, I sat down and tried to figure out what I did every day, on average.

I ended up making up an ideal day that didn’t really reflect reality, that had never been lived and would not be lived.

Why I don’t have normal days.

This made me realize that I don’t really have a routine, I simply wake up every morning and do what I feel inspired to do from start to finish.

The ability to be able to do whatever you want on any given day can make life look relatively random when you attempt to scale it down to a post on your ideal day.

This makes the title of this post incredibly misleading, but I hope you’ll forgive me.

When I used to have average days.

When I worked at New York Magazine, I had average days. I’d wake up every morning at exactly 8am. I’d roll out of bed, turn on my laptop and immediately sign into email and AIM. Five minutes later I’d start to receive requests to put photos on the stories that other people had written.

This continued all morning, while I made coffee in the kitchen and made myself breakfast. Eventually I’d tell my assistant to cover for me while I jumped on the Subway and headed into Manhattan.

Then I’d sit at my desk making the photos on blog posts look great until 2, when I’d run out and grab lunch to come back and eat at my desk, and then at 5pm on the dot I’d turn it all off and continue on with my life. I did this every day, it was very average.

Now I don’t live like that anymore, because a year ago I quit my job and now I’m in control of my own destiny.

I don’t recommend living the day job average-day lifestyle, so far having random days where I discover what really interests me is much more profitable than sitting at a desk every day was.

That being said, there are things that I might do on most days that I think can help you emulate my day, if that’s the reason why you’re emailing me to tell you what my average day is like. These aren’t very revolutionary things, they’re just normal human things.

Here are some of the key elements of my day:

1. Writing. I write when I have an idea worth writing down. Other times I’ll write just to see if an idea will come — if it doesn’t I’ll stop writing. I don’t do this on any set schedule. For instance, I’m writing this at 6am in the morning, because I couldn’t sleep any longer and the idea just wouldn’t leave my head. Some days I’ll go to a coffee shop and write, other days I’ll sit down somewhere after Yoga and write. It all depends on the day.

2. Wandering. Another good portion of most days is spent wandering. I find that exploring the city is a great way to both generate ideas, and to simply discover new places and experiences. The most important element of wandering is not having an end destination. For instance, many people wander to the mall to buy something — this isn’t wandering, it’s consumerism. Wandering shouldn’t cost too much money. I recently picked up a new bike (I haven’t had a bike since I was in Portland last year) so now I can wander on wheels.

3. Reading. I read a lot, in order expand my knowledge of how people think. Right now I’m trying to decode Nassim Taleb’s Black Swan, Chris Guillebeau and Charlie Gilkey’s new Unconventional Guide to Freelancing, and I’m in the process of reading Derek Sivers’ blog from start to finish, because he has a lot to offer. I used to read the New York Times for two hours every day, but then I realized that it didn’t really help me. I’d know everything about the sad things happening in the world, but I really couldn’t do anything about them, so in the end I decided it was more important to read things that could help me achieve my goals instead of simply reading for the sake of the action. Be conscious of what you’re consuming, information is addictive and often meaningless.

4. Yoga. Yoga centers me and I think might keep me from going crazy. My recent yoga schedule is mostly taking the BART into San Francisco’s Mission District where I practice at Yoga to the People, a donation based studio that originally opened in New York. 95% of the time Scott teaches, but my friend Carly from dance school also teaches there remarkably enough.

5. Eating. The rest of my day is usually spent in pursuit of food. I’ll either cook meals from scratch or sometimes I’ll go out to eat. There are a lot of great meals to be had in Oakland, Berkeley, and San Francisco, so I’ve been exploring the food choices. The most important element is to be healthy and make sure the food is enjoyable. Why eat junk food just because you’re hungry, when there’s so much great food out there?

6. Disconnecting. Finally, every day I spend as much time as I can disconnected from the Internet. There are a lot of distractions out there, and I think the most important skill you can have is the ability to turn them off. Many people get caught up in rudimentary communications like checking blog comments and answering emails — this is all surface stuff in life, and doesn’t really matter. You can spend ten hours a day answering emails, and you’ll never really accomplish anything. This is why I do my best to turn it all off. I check email once a day, a few other times a day I’ll check on Twitter to see how everything is going. The rest of the day I turn it all off, and do whatever I want.

I realize this isn’t exactly what you were looking for when you asked what I did in my average day, but I hope it helps. Some people enjoy living this way, but I’ve met other people who go absolutely insane when they realize they can do everything they ever wanted.

Some days I just don’t do anything, because that’s what I feel like doing. And that’s okay, because I realize it’s important to follow my intuition about what is important to me.

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