The Tai Lopez Show

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How to Learn from the Great Successes and Failures of History Jul 19, 2017

Show notes

“Study history so that you don’t make stupid decisions” - Tai Lopez (click to tweet) Do you read history? Today, most people don’t. Most people don’t read at all, but if they do read, it’s probably either light, fluffy novels or maybe a self-help book here and there. But what about history? What can a deeper understanding of history do for your life, in helping you achieve the best life possible? Today, I’m going through some moments in history, and what can be learned from them. Because without and understanding of history, there really is no way that we can predict the future. But because history tends to repeat itself, if we develop an understanding and knowledge of history and the trends that come back time and time again, we can better understand the world around us, and make more sense of where it’s headed, as well as if current political decisions are likely to be a good idea. "The reward should be emphasized in education to motivate students to learn" - Tai Lopez (click to tweet) Points to Keep In Mind To start learning history, focus first on what you enjoy History should be more about stories than dates and numbers to be interesting Show the reward before you teach in order to effectively learn, and want to learn! First you get the mindset, then you launch the business, then you get the money. The progression is important Use the HEXACO personality test to more fully understand personalities The C, which stands for Conscientiousness, is probably the most important attribute when it comes to making money Conscientiousness: Perfectionism Organization Prudence (the ability to make good decisions) Parents are usually the worst thing for their kids Politics and Republican vs Democrat tends to have more to do with personality types Knowing history, and how it repeats itself, will help you earn more money and be more successful The mark of an intelligent person is to see both sides of a story Study history so that you don’t make stupid decisions Learn more about your ad choices. Visit megaphone.fm/adchoices

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The Ideal Business Model You Should Look For Jul 17, 2017

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“Be careful about business models where your costs grow with your revenue” - Tai Lopez (click to tweet) Everyone is looking for the ideal business model. They’re looking to discover the perfect model to bring ever increasing revenue. Today, I’m talking about two common business models, and which I prefer. The two models: Netflix and Spotify. Netflix buys out agreements with content creators, whereas Spotify pays royalties dependent on number listens. Therefore, as Spotify’s income increases, so too does their cost. But as Netflix’s income increases, their costs stay the same, or even decrease. This is one of the most important factors to look at when analyzing a potential business. Will cost increase as revenue increases, or will cost stay the same or even decrease? Look for business models where cost decreases as revenue increases. “The ideal business is one where you sell ever increasing units at an ever decreasing cost” - Tai Lopez (click to tweet) Points to Keep In Mind Be careful about business models where your costs grow with your revenue Look for a way for cost to decrease as income increases The ideal business is one where you sell ever increasing units at an ever decreasing cost When you start a business, be careful about signing licensing and royalty agreements where your cost will increase with increased revenue Learn more about your ad choices. Visit megaphone.fm/adchoices

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What They Should have Taught You in School Jul 14, 2017

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“The world needs people who are willing to say it like it is, and not gloss over it” - Tai Lopez (click to tweet) We learn a lot of things in school, but the emphasis is often put on the less practical pieces of information, rather than the knowledge that will really help you get ahead and live a good life. On today’s episode, I’m going through some of the things that they should have taught us in school. I’m taking questions from the audience, to give you the information that is going to truly help you live the kind of life you want to. We go through how to get investments, how to pitch, why you should hire an accountant, how to save money on taxes, and why education will be the ultimate way we can lessen poverty in the world. “There are no solutions, only trade offs. So pick your poison” - Tai Lopez (click to tweet) Points to Keep In Mind The world needs people who are willing to say it like it is, and not to gloss over it On the flip side, if someone tells it to you like it is, you need to not get offended by it, but take the truth from it and use it to motivate you Good investors know that they should invest in the human above the business If you’re pitching a business, you need to tell a story. A story will make something relatable and make it stand out to the people you’re pitching to If you’re looking for investments, start with people you know. It will be a lot easier to get the first money from them Unless you have a background as an accountant, you should probably hire an accountant, even before you’re making a lot of money The best way to save on taxes is to own a business and write off expenses Never mess with the IRS. Don’t try to be tricky with taxes If you want to make a lot of money, you will pay a lot of taxes You can’t tax people enough to end poverty. Instead, you must increase productivity if you want to combat poverty, and the best way to increase productivity is to educate people The way you fix the most problems in the world is through education There are no solutions, only trade offs. So pick your poison Learn more about your ad choices. Visit megaphone.fm/adchoices

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Don’t Be Offended! Jul 12, 2017

Show notes

“You have to train yourself to laugh at adversity” - Tai Lopez (click to tweet) Today, it feels like everyone is looking for something to be offended by. Whether the thing has anything to do with them or not, they’re on the search for something that they can be offended by. If you really need to be offended, though, be offended by the big problems in the world! Or, better yet, choose to learn from the process of being offended, and improve yourself through it. Take the things that people say to you, that would offend weaker people, and use them as motivation to work on improving yourself everyday. “Use pain and feeling offended to motivate yourself to improve” - Tai Lopez (click to tweet) Points to Keep In Mind Today it seems like people are looking for ways to be offended Sometimes, you need to be a little hurt by the truth, to help you change something about yourself The sooner that you learn that people won’t like you and you will be offended, the sooner you can get used to it If all you do is get offended, you don’t hurt the person who offended you, you only hurt yourself Don’t take things personally, because 99% of the time it’s not even about you anyways You have to train yourself to laugh at adversity You’re only free when you’re the master of your thoughts Use pain and feeling offended to motivate yourself to improve Your brain gravitates toward negativity, so negative comments will really affect you if you let them The emotional motivation of pain can bring you to success Harness what offends weaker people, and turn it into your motivation Learn more about your ad choices. Visit megaphone.fm/adchoices

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The Real Reason Most People Fail, and How You Can Avoid It Jul 07, 2017

Show notes

“Never be the person signing a contract that you don’t fully understand” - Tai Lopez (click to tweet) How careful are you about the contracts that you sign? Do you read them and fully understand them, in all of their details, before attaching your signature? Or do you think it will all just magically “work out” somehow for you? Too many people do the later. They don’t pay enough attention. This is such a common thread you see in the world: Plain ignorance. As I say on this episode, the root of all the problems in the world is not the rich getting richer. The root of all problems is ignorance, plain and simple. But, in a lot of ways, it’s not everyone’s fault: The schooling system has set them up for failure. It’s set them up to go through the most formative years of life without learning the most practical skills. Things like money management, entrepreneurship, just pure logical thinking, all get passed over, and, to make matters worse, children are given tons of sugar through the sodas they drink, and then forced to sit through a standardized test. It’s no wonder people don’t come out with good critical thinking skills. Don’t be someone who contributes to the main problem in the world of ignorance. Educate yourself, and learn to be smarter and more practical. “The root of the problems in the world is not the rich getting richer. It’s ignorance” - Tai Lopez (click to tweet) Points to Keep In Mind Be very careful with money. Always underestimate your claims to insure you are safe with your estimates Manage people’s expectations by underestimating Videotape something if you could potentially need more proof in the future If you ever invest money in something, don’t expect it to come back. Only give money you can survive without ever seeing back Don’t personally guarantee anything unless you are ready to pay the full thing, because you may have to Never be the person signing a contract that you don’t fully understand Children should start learning practical money management techniques young School should focus more on skills Incentive people with what works to incentivize them! Whether that’s cars, girls, mansions, do what actually works! People at the top should raise up everyone else, not keep them down The root of the problems in the world is not the rich getting richer. It’s ignorance Learn more about your ad choices. Visit megaphone.fm/adchoices

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What Does it Take For You to Become Successful? The #1 Thing. Jun 30, 2017

Show notes

“Perfectionism is often considered a negative thing, when it is really a positive” - Tai Lopez (click to tweet) When it comes to success, only a multifaceted approach works. The University of Pennsylvania found that the number one trait that contributes to success is conscientiousness. There are 5 facets of conscientiousness: Industriousness, perfectionism, organization, diligence, and prudence. Each of these facets plays a role, and today’s episode is about how each contributes, and how you can build your strength in each area. But it’s important to understand that a combination of many different factors are going to lead to your ultimate ability to succeed in this life. Don’t get too fixated on any one, but take a careful and holistic approach to learning and improving yourself. Focus on the 5 aspects of conscientiousness to improve your ability to succeed in life. “Organization is essential to productivity and progress in your life” - Tai Lopez (click to tweet) Points to Keep In Mind The #1 trait associated with success is conscientiousness If you don’t have attention to detail, you will have a hard time being successful The 5 facets of conscientiousness: Industriousness, perfectionism, organizations, diligence, and prudence Perfectionism is often considered a negative thing, when it is really a positive If you can’t pay attention to detail, you’ll probably be broke Organization is essential to productivity and progress in your life Diligence is the ability to stick something out when it’s not fun or exciting anymore Prudence is the ability to make good decisions in life. You have to think through decisions very carefully Ask yourself: What would a very smart person do in this situation? A combination of facets and traits makes you successful, not any individual thing Learn more about your ad choices. Visit megaphone.fm/adchoices

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The One Skill That Can Define Your Ability to Succeed Jun 20, 2017

Show notes

“There are three types of people: People making things happen, people watching things happen, and people wondering what happened” - Tai Lopez (click to tweet) People tend to underestimate what they can do, and what is possible, because they don’t have the ability to focus. If you can’t really concentrate your efforts on one task for an extended period of time, you’re going to find it a lot more difficult to actually get things done. That is why the ability to turn on intense focus for as much time as is needed is absolutely essential to your success. Without it, you will jump aimlessly from task to task, not finishing anything, and not getting anywhere closer to your goals. Learn to skill of focus, because it will help with every other area of your life. “You can do a lot more than you think you can do if you can just learn how to really focus” - Tai Lopez (click to tweet) Points to Keep In Mind There are three types of people: People making things happen, people watching things happen, and people wondering what happened Be focused and practical You can do a lot more than you think you can do if you can just learn how to really focus There is a time to stop and smell the roses, but if you’re not where you want to be, then now is not that time Anyone who thinks a president or political party will fix your problem is wrong In many ways, success of a lot more simple than people think Awareness of where you are and where you want to go is the first step to getting there If you have a problem, admit it. If you’re broke, admit it, and move on to the next phase The problem with people blaming other people for their financial problems is that they will never get out of the situation they find themselves in There’s no long-term fix for making more than you make, you have to recognize it and change it At the end of the day, nobody really cares about you but you If people took have the time that they spent complaining about things and put it into fixing their situation, they might not have anything to complain about anymore Learn more about your ad choices. Visit megaphone.fm/adchoices

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The Science Behind How You Can Go Through Life with Purpose Jun 19, 2017

Show notes

“There is a science behind habits, and it’s important to learn it” - Tai Lopez (click to tweet) Too many people go through life haphazardly, without purpose and forethought, stumbling from thing to thing, and from idea to idea. This lack of focus will keep you from truly achieving great things in your life. But if you learn how to create the right habits and neuro pathways in your brain to help you do small amounts of a task, regularly every day for a long time, you’re ability to succeed in life will skyrocket, and you’ll achieve what you thought you couldn’t. Learn how to create those neuro pathways and create habits on today’s episode of the Tai Lopez Show. “Habits keep you from going through life haphazardly” - Tai Lopez (click to tweet) Points to Keep In Mind Fitness, money-making, public speaking, ability to read people, the ability to influence people, are all habits that people create At the age of 25, your neural pathways are pretty set as far as habits. You can still change and create habits, but it’s more difficult There is a science behind habits, and it’s important to learn it Habits keep you from going through life haphazardly People think they have time when they’re young, but in reality you should be in a hurry to create the right habits because it will only get more difficult as you get older It’s better to do small chunks of a task regularly, to create the pathway in your brain to make it easier each time you go to do that task, and work harder at it Move from one thing to the other logically and thoughtfully, with a single end in mind Learn more about your ad choices. Visit megaphone.fm/adchoices

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How Habits Bring You Success Jun 16, 2017

Show notes

“The school system should be less about memorizing information and more about forming good habits” - Tai Lopez (click to tweet) The school system focuses far too much on memorizing data. In today’s age, data is not nearly as important as good habits. You can find any information you really need at a moment’s notice on your phone. But habits, which define how you spend your time day in and day out, are going to make the difference in how successful you are able to be. Listen to today’s podcast to find out the importance of habits in your life and how to build better ones. “The things you both love and hate in life will come down to the habits you form” - Tai Lopez (click to tweet) Points to Keep In Mind The school system should be less about memorizing information and more about forming good habits The chains of habits are too weak to be felt until they’re too strong to be broken Get in new habit learning as early as possible, because the younger you are, the easier it is The things you both love and hate in life will come down to the habits you form When practicing something, get in it for the long haul. Don’t give up, just do a small amount every single day Learn more about your ad choices. Visit megaphone.fm/adchoices

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The Secret to Everything You Hate and Love About Your Life Jun 13, 2017

Show notes

“Almost everything you hate or love about life stems from a habit” - Tai Lopez (click to tweet) Almost everything in your life, whether you love it or hate it, can be traced back to some habit you formed. Whether it’s procrastinating when you know you should be working on something, watching hours of TV everyday, or good things like constantly looking for solutions, eating healthy, getting good amounts of sleep. In a large part, your life is simply made up of a bunch of habits you’ve created over time. This is why the school system should focus much more on forming the right habits, rather than memorizing things. Habits and having the right habits define how happy and successful you will be in life, but they’re not created instantly. They have to be refined and worked on continually, over a long amount of time. But keep at them, and they will turn into powerful pillars for your good life. “The school system should be far more geared toward creating the right habits, instead of memorization” - Tai Lopez (click to tweet) Points to Keep In Mind The chains of habit are too weak to be felt until they’re too strong to be broken Almost everything you hate or love about life stems from a habit The school system should be far more geared toward creating the right habits, instead of memorization It’s much easier to form habits when you’re younger, so start now and work hard on creating the right habits It’s better to do 15 minutes a day for a long time then to keep going all in, and giving up Learn more about your ad choices. Visit megaphone.fm/adchoices

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