Something really fired my mind up this week ...

How $27M turned into $2.6B

I take conspiracy theories with a grain of salt. But I don’t ignore patterns. If the coincidences are lining up perfectly, I believe there are players involved.

There is one thing you can count on in this world. And that is entropy. Things will always get as disorganized as they can get. But wherever you find organization, people are involved.

I was fired up this week reading the story of an investor who made a bet based on this coronavirus issue and made billions. His name is Bill Ackman. His bet was $27M, and he gained $2.6B.

His bet was based on the fact that the coronavirus would tank the US stock market. And it did. You can read more details of the story here.

His story really fired me up because it showed that the gameplay during this downturn is starting to show results. Don’t get boxed up into your own world thinking the whole world is at a standstill. This is not true.

This is the greatest opportunity to make huge money since 2008. You may not be able to place bets on the stock exchange (and I do not recommend that). But there is certainly something you can do to give your business an advantage during this period. Don’t be too lazy.

This is the time to read, think, study and take action. Don’t sleep on this chance.

- David

Don't buy into the fear

Here is some good news

Before I get into the good news, I have some personal news. I made an audacious goal.

I have always had it in mind but I never out a figure to it or announced it. Now seems to be the best time to announce it and take it seriously.

The goal is to make 10,000 new millionaires over the next 10 years. This means that by the year 2030, a minimum of 10,000 millionaires will emerge inspired or influenced by me. You can take a look at davidolarinoye.com

This is what is in the middle of what many are calling mass hysteria. First, I do not buy the idea of shutting down the business world to curb a virus. As you can see, it is still spreading regardless. But I want to point something out to you if you still have any iota of fear.

The rate at which people are recovering from the virus is amazing! Over 95K people have recovered. In fact, I heard that those dying from the virus are those who have weakened immune systems. This includes the old and elderly.

There is no cause for a total crippling of the world economy, which they have done. I will keep my opinions to myself. But all I just want you to realize is that it is not as bad as they want you to think. If you are really concerned, watch the recoveries and not the spread.

Well, this has triggered a recession whether we like it or not. And the economy won’t recover this year, I guess. The various governments have injected cash into the economy again, hence devaluing their currency. This means if you have some money saved up, it just got further diminished in value.

Whenever there is a recession, there is an opportunity. The landscape of the business world changes after every recession. And it is changing again right now before your eyes. So, are you going to be a spectator or are you going to be an actor?

I shared a post in January suggesting that people should take out their gains from the stock market. It wasn’t popular. In fact, someone mocked it. But well, here we are.

So, what can you do now to take advantage of this period?

  1. If you are into stocks, this is the time to buy. Don’t bulk buy. But buy gradually and systematically. We may not be at the bottom yet.

  2. This is the time to get into debt. I hear the interest rate is now zero in the US. Don’t sleep on this opportunity. Take money from the bank. Debt is real money now. Cash is toast.

  3. Expand your business. This could include buying out your competitors or buy similar businesses to yours. You can even buy businesses not related to what you do but you see prospects in. If you have the opportunity to buy a business located in a choice area (or location). Do it. Use the money you borrowed to do it.

  4. Come up with new ways to serve people. Now, the lifestyles of people have been altered. Their everyday routine is off balance. If you want people to include doing business with you in their everyday routine, this is your chance. Do it before people resume their lives again and get used to another routine.

  5. Don’t watch CNN. Trust me on this one. They are designed to minister fear. If you need facts, search online and search for recovery facts too. Give the good news a chance. But eliminate bad news.

Finally, seek financial guidance to carry out any of the insights I have shared with you. This is not financial advice. I have to say that. But it is a perspective that you should think about during this period.

The last time we had these lows in the market was 2008. This is 2020. The next time we get something like this will likely be in the 2030s.

See the opportunity. Be smart.

- David

How to double your success rate

A lesson from a man studying success for over 5 decades

What do super successful people have that differentiates them from unsuccessful people? What is their secret of success?

It is difficult to know what will certainly succeed from the onset. Unsuccessful people want to know what will succeed. Successful people are more open to trying and failing.

The truth is that very few people succeed at their first attempt. Most people succeed after several failures. And so, they have learned to be receptive to new things (whether it is going to succeed or fail).

I got really interested this week in the work of a man. He is Bob Proctor. He has been studying success for decades. He is in his eighties now and still has so much energy.

He made a point that I had to think about again and again. He said:

Successful people make decisions fast but they change it very slowly (if they ever change it)

Think about it. How fast do you make decisions? Do you think about things for days before you make up your mind on it? Or do you make decisions fast?

You have to learn to make decisions fast. This is how you double your success rate. The point is not whether it will succeed or fail, just make up your mind to go for it fast.

Timing is a very important aspect of success. Faster is always better. Even if it will fail, decide fast, fail fast and move on. Don’t take donkey years in making up your mind.

Sometimes, you don’t even have all the details. Maybe you don’t even know what it will entail, but just make up your mind to do it.

When Andrew Carnegie wanted to give Napoleon Hill the job that made him produce the book ‘Think and grow rich’. Carnegie only told Hill that he will have to devote the rest of his life to the job he was about to give him. He didn’t say exactly what the job would be.

Unknown to Hill, Carnegie gave him 60 seconds to give an answer. Hill said yes in 26 seconds. Fast decision wins.

What decision are you supposed to have made that you have been putting off? Make that decision now. You don’t have to know how it will happen. Just make the decision to go for it.

- David

What's going to happen to business with the coronavirus outbreak?

Expand your business

The country I currently live in got its first case of coronavirus last week. People fidgeted. Some now even prefer leg-shakes to handshakes. I believe the fear of the virus is deadlier than the virus.

I like to look at things from a business perspective. Yes, a number of people have died from the virus but the fear of the virus has wiped out billions of dollars from the markets.

Personally, I have no fear of the virus. And I don’t like to talk about it because I take a very contrarian view without any facts to prove it. But we can talk about business.

More people are advised to work from home now. Physical offices are closing in lots of places. Of course, in China, the situation is already dire. Billions have already been wiped out in stock markets across the world. And there’s more.

Just last week, I heard The Fed in America is going on quantitative easing to counter the effects of the outbreak. Just in case you don’t know what that means, it means they are going to start printing money again. It was how they postponed the crisis in 2008.

What does that mean to you as a business owner? It means that the money you have in your hands will be further diluted again. The value will be less.

This means that the savers and people trading time for money will be thrown under the bus (again). If there is any time to grow and expand your business this is it.

Don’t let the virus outbreak scare you. It will come and very soon a vaccine will be available for it. Life will go back normal. Only then will a lot of people realize that this period was a golden opportunity.

If you have been thinking of buying acquiring some related businesses or assets for your business, this is it!

They are now pumping money for the banks. It means they will be flush with cash to give loans. They will be more than eager to finance your acquisitions, especially if the other businesses are showing signs that they won’t survive.

It is time to toughen up and be bold. I will end with this advice from Rothschild:

When there is blood on the street, buy property

(But make sure you get a good deal).

I hope you get my point.

- David

8 Months Pregnant and Killing It on LinkedIn

What's your excuse?

I got into a chat with an old friend. We grew up in the same small town. But we met shortly after university. She was a few years ahead.

Presently, we happen to live in the same city. So we met up at an event and started sharing. She was the first person I met up with physically this year that I could discuss my financial numbers with.

She started telling me her numbers and I was excited. It made me comfortable to talk about my numbers as well. These are not super huge numbers. It was just a January report and something that would be considered basic in most developed countries.

But the numbers are quite rare in our community. And I was glad I had someone to talk numbers with after so long a time.

Then she told me of her game on LinkedIn. She uses an approach quite different from mine. She does cold pitching.

Cold pitching is basically talking business to a stranger at first contact. My game in that regard is no way near hers. She had gotten jobs in the past based on cold pitching. In some cases, she knocked on doors and pitched her skills one-on-one.

Anyway, now she does that on LinkedIn. She told me how she wakes up and sleeps on LinkedIn. She pitching her way into and through anything. She is just damn relentless.

When I met up with her, she was heavily pregnant (with her delivery due in weeks). And over the past month, she had made so much money from remote jobs she had gotten from LinkedIn. She had decided to quit her daytime job and look for a remote option.

And in one month she had made so much money, many times more than what she used to earn at her daytime job. Just by taking networking on LinkedIn seriously.

What is your excuse? Why are you not on LinkedIn? Why are you not using LinkedIn? What are you waiting for?

It was a challenge for me too. If an 8 months pregnant woman can do it, I can. Learn how to pitch yourself. Know those to whom you will be useful. And pitch away. Let no negative response stop you. Keep moving!

- David

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