Starting this one book one month blog post. Yeah it is really hard to cope with the weekly blog and now I am aiming for a one book per month kind of thing. My writing suck and my reading comprehension is also quite bad. The only way to do this is to read more books and to attempt to write more. I try to start this post on 26-February-2020, during a day I have more free time than usual. That is all for the intro and next is to share the book I picked up and tried to read, more or less browse through. I got this book The Leverage Equation by Todd Tresidder from a book shelf and decided hey this is interesting. The title is catching and I won't deny that I tried to browse it hoping I will be enlighted about making money by knowing different leverage concepts.
Just a few keypoints to the stuck to me for this book, when making a risky decision and trying to weigh the benifit and risk
Expected value = (Chance of Win * Average Win) - (Chance of Loss * Average Loss) - Mathematical expectancy: calculated profit
- Reciprocal exchange: time for money, value for money
- Limited resources: work on resource that you have
- Time freedom: everyone has the same time, alot them to your values
- Give value and solve problems: people are willing to pay to leverage that is a solution to their problems
- Delegation: identify things that should be done by you and assign others to someone else
- Expand the gap: earn vs spend
- Fianncial independence: life is an adventure and embrace finance and dont be burned by it
- Financial leverage: other peoples money and not limited to your wealth
- Time leverage: other peoples time so your not limited to 24hrs
- Technology: automate and scale
- Marketing: access to other peoples audience
- Network: expect reach to other people
- Experience: employ others experties
- lend money
- buy instead of rent
- buy stock on margin
- trade commodity futures
- buy commodity mining company
- refinance home equity
- investment property
- build network
- Things done faster
- Get more time
- Focus on high value
- Disconnect income based on time
- Hire assistant
- Hire employee
- Hire freelance
- Use calendar and scheduling system
- Do online meeting
- Webinar software, systematic training