Collections by Hamza Khan

True wealth is comprises of the following

• Family (relationships). Wealth is strong spirited familial relationships with people
• Fitness (health). Fitness includes health, vibrancy, passion, and boundless energy
• Freedom (choice). Freedom is the ability to pursue your dreams and do what you love

There are three road maps to wealth:

• The Sidewalk to poorness
• Slowline to mediocrity and
• Fastlane to wealth

The Sidewalk to Poorness

The sidewalker is always one something from being homeless, bankrupt, or back to living in their parents’ basement. 

Sidewalkers are trapped in a lifestyle servitude that is characterized by an urgent and insatiable need for self-gratification.

Sidewalker mindset:

• Debt perception:  Credit allows you to buy things now. What I want, I get!
• Time perception: There is enough time and you could be dead in two weeks anyway
• Education perception. You finished school when you graduated and so, there is no need to learn
• Money perception. If you have money, flaunt it
• Primary income source. Whatever pays the most, you will chase it
• Primary wealth accelerator. Luck
• Wealth perception. The one with the most toys wins
• Destination. “I live for today and I’m not bothered about tomorrow”
• Responsibility and control.  Indulges in the victim mentality
• Life perception. Life is too short to plan ahead

Mediocrity- The Slowlane Roadmap

The Slowlane involves sacrificing today for a better tomorrow. If you are on the slowlane, you’ve been deluged with a series of doctrines that ask you to make a trade-off. Such trade-offs include getting a job, working for retirement, and saving 10% of the paycheck.

The Slowlane is a convenient exit for the sidewalk and soon evolves into maturity and increased adult responsibilities.

The Slowlane offers the promise for riches at the age of retirement when it’s not even possible to enjoy the fruits of labor.

Slowlane mindset and missives include:

• Debt perception:  Debt is evil.
• Time perception: Time is abundant and can be gladly traded off for more dollars
• Education perception. Educations is important as it helps earn more dollars
• Money perception. Each and every dollar must be accounted for because money is scarce
• Primary income source. A job is the primary source of income
• Primary wealth accelerator. Compound interest
• Wealth perception. Savings, investments, and 401K
• Destination. Comfortable retirement in the twilight years
• Responsibility and control.  Works to provide for the family by relying on the employer, government, and the state of the economy
• Life perception. Settle for less, and give up on any dreams

The Slowlane roadmap relies on the following equation:

The Fastlane Roadmap

The Fastlane: A business lifestyle that is characterized by controllable unlimited leverage (CUL). It creates the optimal environment for rapid wealth creation and an extraordinary lifestyle.

The Fastlane mindset:

• Debt perception:  Debt is useful as it allows one to grow their system
• Time perception: Time is far more important than money
• Education perception. Learning is important for growth
• Money perception. Money is everywhere. It reflects the value you create
• Primary income source. Business systems and investments
• Primary wealth accelerator. Making something out of nothing
• Wealth perception. Build business systems for cash flow and asset valuation
• Destination.  A lifetime of passive income. Life is what you make of it. Only you can choose how you react to circumstances
• Life perception. Dreams are worth pursuing no matter how outlandish

The Fastlane is a business system while the Slowlane is a job. In the Slowlane, you trade your time for your employer’s cash while in the Fastlane, wealth is driven by a business system.

The Fastlane wealth equation looks like this:

Wealth = Net Profit + Asset Value

Asset Value = (Net Profit) X (Industry Multiplier)

Money trees: The Five Fastlane Business Seedlings

• Rental systems. Real estate is an example of a rental system that produces a recurring monthly income
• Computer/software systems. The internet and software programs have created more millionaires than any other system in history
• Content systems. Content systems are systems of information. They include books, blogs, and social networks
• Distribution systems. These are systems that move products to the masses. An example is Amazon
• Human resource systems. Systems that are run by people. Sometimes they can work in conjunction with other systems

Produce, Don’t Consume: Build something that offers value to the world

Most people live life through the perspective of a consumer, which makes them blind to the Fastlane roadmap. Being a consumer means buying products and services without any consideration about where they come from.

The Real Law of Wealth

The law of effection: The more lives you affect in an entity you control, in scale or in magnitude, the richer you become.

“To exploit the Law of Effection, your business needs to make an impact of either scale or magnitude, or both. Within our Fastlane wealth equation, “scale” and “magnitude” are implicit to our “net profit” variable. NET PROFIT = Units Sold (Scale) X Unit Profit (Magnitude)”

The Five Fastlane Commandments (NECST)

1. The commandment of need. Businesses satisfy the needs of people. Don’t chase money. Rather, look at how your business will help other people
2.  The commandment of entry.  As entry barriers to a business fall, or lessen, the effectiveness of that road declines while competition in that field subsequently strengthens. To overcome weak entry, you need exceptionalism
3. The commandment of control.  Play in an organization that you control or you will be at the mercy of someone else
4. The commandment of scale. Increase scale and magnitude in your business
5. The commandment of time. Your business should detach you from your time

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1. It is a numbers game

• Doing a high volume of tasks and constantly improving by iterating is a sure way to getting what you want
  • Getting a job requires many job applications and many interviews
  • Selling involves knocking on many doors – Grant Cardone
  • Being an influencer means posting more – Gary V
  • Investing involves analyzing many companies – Warren Buffett
  • Being great at basketball requires practicing more – Jordan

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An idea is a combination of other ideas.

• Say it five times out loud. Say it to your cat. Yell it out your car window at strangers waiting for the bus. Every amazing creative thing you’ve ever seen or idea you’ve ever heard can be broken down into smaller ideas that existed before. An automobile? An engine and wheels. A telephone? Electricity and sound. Reese’s Peanut Butter Cups? Peanut butter and chocolate. All great creative ideas, inventions, and theories are composed of other ideas. Why should you care?
• Because if you want to be a creator instead of a consumer, you must view existing ideas as fuel for your mind. You must stop seeing them as objects or functional things — they are combinations of ingredients waiting to be reused

Source: Myths of innovation

Filter out fewer ideas

• One way to think of creative people is that they have more control over their fears — or less fear of embarrassment. They’re not necessarily smarter or more capable of coming up with good ideas, they simply filter out fewer ideas than the rest of us.
• Creativity has more to do with being fearless than intelligent or any other adjective superficially associated with it. This explains why many people feel more creative when drinking, on drugs, or late at night: these are all times when their inhibitions are lower, or at least altered, and they allow themselves to see more combinations of things than they do normally. Environment Creativity is personal.
• No book or expert can dictate how you can be more creative. You have to spend time paying attention to yourself: when do ideas come easiest to you? Are you alone? With friends? In a bar? At the beach? Are there times of day when you’re most relaxed? Is there music playing? Start paying attention to your rhythms and then construct your creative activities around them. To get all Emersonian on you, this is called self-knowledge:[189] you can’t be

Source: Myths of innovation

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1. Follow the process

Elite athletes in collegiate and professional sports increasingly follow a philosophy known as “The Process.” It’s a philosophy created by University of Alabama coach Nick Saban, who taught his players to ignore the big picture—important games, winning championships, the opponent’s enormous lead—and focus instead on doing the absolutely smallest things well—practicing with full effort, finishing a specific play, converting on a single possession. A season lasts months, a game lasts hours, catching up might be four touchdowns away, but a single play is only a few seconds. And games and seasons are constituted by seconds.

• If teams follow The Process, they tend to win. They overcome obstacles and eventually make their way to the top without ever having focused on the obstacles directly. If you follow The Process in your life—assembling the right actions in the right order, one right after another—you too will do well. Not only that, you will be better equipped to make quick work of the obstacles along that path. You’ll be too busy putting one foot in front of the next to even notice the obstacles were there.
• Source: Daily stoic

2. You have to believe it to achieve it

Cameo Alvarez said that he is the best boxer in the world and said that you have to believe it to achieve it

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