Introduction
In today's world, being broke can be a challenging situation to navigate. However, there are ways to overcome this predicament, and one of them is by leveraging your unique assets. In this blog post, we'll discuss some of the essential assets that can help you improve your financial situation, including skillset, network, and unique strengths.
Evaluate Your Financial Position
Before we dive into finding solutions for being broke, it's crucial to understand that everyone has unique strengths and assets. These advantages can either be innate or cultivated over time. By leveraging your assets, you can create opportunities to improve your financial situation.
It's a common misconception that financial success is only achievable if you have a lot of money to start with. However, that's not entirely true. While money can be a great asset to have, there are other advantages that you can rely on to increase your earning potential, even if you're broke.
For instance, do you possess excellent communication skills or have a talent for problem-solving? These are examples of intangible assets that can help you stand out in a job market or even start your own business. If you're knowledgeable in a particular area or have a unique skill set, such as writing, graphic design, or web development, you can offer your services online to earn extra income.
Moreover, living at home with your parents might seem like a disadvantage, but it can also be an asset. It provides you with a low-cost living situation, which means that you have fewer expenses to worry about, allowing you to focus on building your financial future.
In summary, by recognizing and utilizing your unique assets, you can create opportunities to improve your financial situation, even if you're broke.
Before we dive into finding solutions for being broke, it's crucial to understand that everyone has unique strengths and assets. These advantages can either be innate or cultivated over time. By leveraging your assets, you can create opportunities to improve your financial situation.
It's a common misconception that financial success is only achievable if you have a lot of money to start with. However, that's not entirely true. While money can be a great asset to have, there are other advantages that you can rely on to increase your earning potential, even if you're broke.
For instance, do you possess excellent communication skills or have a talent for problem-solving? These are examples of intangible assets that can help you stand out in a job market or even start your own business. If you're knowledgeable in a particular area or have a unique skill set, such as writing, graphic design, or web development, you can offer your services online to earn extra income.
Moreover, living at home with your parents might seem like a disadvantage, but it can also be an asset. It provides you with a low-cost living situation, which means that you have fewer expenses to worry about, allowing you to focus on building your financial future.
In summary, by recognizing and utilizing your unique assets, you can create opportunities to improve your financial situation, even if you're broke.
Working Hard
The idea of working hard is often emphasized as the key to success, but it's not always the case. While it's admirable to be a hard worker, not everyone possesses that trait, and that's okay. It's important to recognize and leverage your unique strengths and personality traits to achieve success.
For example, maybe you're not the hardest worker in the room, but you have excellent problem-solving skills, creativity, or leadership abilities. These assets can be just as valuable, if not more so, in achieving financial abundance.
Moreover, in today's world, distractions are abundant, with social media and short-form content dominating our attention. Being able to focus on a task without getting sidetracked is a massive advantage that not many people possess. If you have that ability, it can be a game-changer in achieving your financial goals.
It's essential to evaluate all the assets you have and create a game plan on which vehicle you'll use to reach financial abundance. Hard work and discipline are undoubtedly crucial, but they're not the only factors that determine success. Therefore, focus on the strengths and assets you have and utilize them to create opportunities for yourself.
The idea of working hard is often emphasized as the key to success, but it's not always the case. While it's admirable to be a hard worker, not everyone possesses that trait, and that's okay. It's important to recognize and leverage your unique strengths and personality traits to achieve success.
For example, maybe you're not the hardest worker in the room, but you have excellent problem-solving skills, creativity, or leadership abilities. These assets can be just as valuable, if not more so, in achieving financial abundance.
Moreover, in today's world, distractions are abundant, with social media and short-form content dominating our attention. Being able to focus on a task without getting sidetracked is a massive advantage that not many people possess. If you have that ability, it can be a game-changer in achieving your financial goals.
It's essential to evaluate all the assets you have and create a game plan on which vehicle you'll use to reach financial abundance. Hard work and discipline are undoubtedly crucial, but they're not the only factors that determine success. Therefore, focus on the strengths and assets you have and utilize them to create opportunities for yourself.
The Value of a Strong Skill Set
One of the most important assets you can have when you are broke is your skill set. Unfortunately, many people tend to major in minor things, such as video games. Some people argue that video games help them socialize or that there are people who make millions from gaming. While these arguments may have some merit, they do not change the fact that video games are often a minor thing that people major in.
If you're broke, majoring in a minor thing is not going to help you build a beautiful future for yourself and your family. Sure, it's essential to have hobbies, but it's equally essential not to get consumed by them if they are not going to get you paid. You need to be practical and focus on what can help you get out of your financial predicament.
The best asset you can have in life is your skill set. No matter what life throws at you, if you have a valuable skill set, you can climb back up to the top of the mountain quickly. There are certain skills that are valuable for the rest of your life, no matter what industry or life path you take. For instance, sales, marketing, accounting, editing, and Excel spreadsheets are essential skills that can serve you well in any situation. If you have skills in any of these areas, consider them as assets that you have in your life.
When considering learning a new skill set, ask yourself if it will be Evergreen and beneficial for the rest of your life. If the answer is yes, then it's worth learning it, even if it's outside of your current industry or life path. In today's fast-changing world, it's essential to stay ahead of the curve and keep acquiring new skills to remain relevant in your field.
It's important to note that having a skill set alone is not enough. You need to be able to market your skills and sell yourself to potential employers or clients. Having strong communication skills, networking skills, and a positive attitude are also crucial components of success.
In conclusion, when you're broke, having a valuable skill set can help you climb out of your financial predicament quickly. Don't major in minor things that are not going to help you build a beautiful future for yourself and your family. Instead, focus on developing Evergreen skills that can serve you well in any situation. Remember that having a skill set alone is not enough; you also need to be able to market yourself effectively and have strong communication and networking skills.
One of the most important assets you can have when you are broke is your skill set. Unfortunately, many people tend to major in minor things, such as video games. Some people argue that video games help them socialize or that there are people who make millions from gaming. While these arguments may have some merit, they do not change the fact that video games are often a minor thing that people major in.
If you're broke, majoring in a minor thing is not going to help you build a beautiful future for yourself and your family. Sure, it's essential to have hobbies, but it's equally essential not to get consumed by them if they are not going to get you paid. You need to be practical and focus on what can help you get out of your financial predicament.
The best asset you can have in life is your skill set. No matter what life throws at you, if you have a valuable skill set, you can climb back up to the top of the mountain quickly. There are certain skills that are valuable for the rest of your life, no matter what industry or life path you take. For instance, sales, marketing, accounting, editing, and Excel spreadsheets are essential skills that can serve you well in any situation. If you have skills in any of these areas, consider them as assets that you have in your life.
When considering learning a new skill set, ask yourself if it will be Evergreen and beneficial for the rest of your life. If the answer is yes, then it's worth learning it, even if it's outside of your current industry or life path. In today's fast-changing world, it's essential to stay ahead of the curve and keep acquiring new skills to remain relevant in your field.
It's important to note that having a skill set alone is not enough. You need to be able to market your skills and sell yourself to potential employers or clients. Having strong communication skills, networking skills, and a positive attitude are also crucial components of success.
In conclusion, when you're broke, having a valuable skill set can help you climb out of your financial predicament quickly. Don't major in minor things that are not going to help you build a beautiful future for yourself and your family. Instead, focus on developing Evergreen skills that can serve you well in any situation. Remember that having a skill set alone is not enough; you also need to be able to market yourself effectively and have strong communication and networking skills.
Strong Network
The next asset that you can have is a strong network, but most importantly, you need a strong network in an industry where that network actually brings you value. Many people have made a full-time living just by having a strong network, but first, you need to decipher and be very honest with yourself about how strong your network actually is. I see a lot of people talk about how strong their network is, and then they do a little bit of digging, and what they mean is there are three high school friends. One went on to be a junior assistant at this company, and another went on to work at Goldman Sachs, and then another one went on to work at HSBC as a very low-level manager. A lot of people really overestimate the value of their network because just remember, your network is not who you know, your network is who you can call for a favor at 3 am in the morning, no matter what it is, that person will do it for you. That is your network, not who you've had a couple of DM exchanges back and forth on Instagram.
Going on to the other point that I mentioned, which is, it's one thing to have a network, it's another thing to actually have a network that makes you money. Here's what I mean by that. I was hanging out with my friend a couple of days ago, and his network is insane. He's friends with Milkboys, a lot of the rappers, a lot of the biggest restaurant owners, promoters, club owners, all this stuff. His network is very, very useful because a lot of people, when they go to Miami, they can hit him up for connections and tables and this and that, or if someone wants to go to Monaco F1 or wants to get UFC tickets, this person is so well connected, they can arrange all that stuff. So, because his connections are so strong, and it's taken him so many years to build those connections, he can actually monetize per request.
However, for me, for example, I have an extremely strong network, but my network does not help my software company in any way, shape, form, or fashion. My network has almost nothing to do with my net worth. I've built off my network because, you know, you get to a certain point in life where you like having other very, very high-value people around. It is very nice that I can call on favors from so many people, and it doesn't matter what country I go to, I get special treatment because of the people that I know and because of my close network. But at the end of the day, that doesn't make me any extra money.
So, make a decision about the industry or path that you want to go to in life, and then, even if you do have a strong network, be honest with yourself if your network actually ends up making you more money and is an asset to your financial abundance. As I said, even in my situation, my network has basically nothing to do with my financial abundance.
The Power of Time
The next asset that you can have is a strong network, but most importantly, you need a strong network in an industry where that network actually brings you value. Many people have made a full-time living just by having a strong network, but first, you need to decipher and be very honest with yourself about how strong your network actually is. I see a lot of people talk about how strong their network is, and then they do a little bit of digging, and what they mean is there are three high school friends. One went on to be a junior assistant at this company, and another went on to work at Goldman Sachs, and then another one went on to work at HSBC as a very low-level manager. A lot of people really overestimate the value of their network because just remember, your network is not who you know, your network is who you can call for a favor at 3 am in the morning, no matter what it is, that person will do it for you. That is your network, not who you've had a couple of DM exchanges back and forth on Instagram.
Going on to the other point that I mentioned, which is, it's one thing to have a network, it's another thing to actually have a network that makes you money. Here's what I mean by that. I was hanging out with my friend a couple of days ago, and his network is insane. He's friends with Milkboys, a lot of the rappers, a lot of the biggest restaurant owners, promoters, club owners, all this stuff. His network is very, very useful because a lot of people, when they go to Miami, they can hit him up for connections and tables and this and that, or if someone wants to go to Monaco F1 or wants to get UFC tickets, this person is so well connected, they can arrange all that stuff. So, because his connections are so strong, and it's taken him so many years to build those connections, he can actually monetize per request.
However, for me, for example, I have an extremely strong network, but my network does not help my software company in any way, shape, form, or fashion. My network has almost nothing to do with my net worth. I've built off my network because, you know, you get to a certain point in life where you like having other very, very high-value people around. It is very nice that I can call on favors from so many people, and it doesn't matter what country I go to, I get special treatment because of the people that I know and because of my close network. But at the end of the day, that doesn't make me any extra money.
So, make a decision about the industry or path that you want to go to in life, and then, even if you do have a strong network, be honest with yourself if your network actually ends up making you more money and is an asset to your financial abundance. As I said, even in my situation, my network has basically nothing to do with my financial abundance.
The present moment offers an opportunity for individuals to put more time and effort into building their financial status. This can be achieved through freelancing, online businesses, or apprenticeship. The more time one has, the more beneficial it is, and it acts as a safety net. For instance, if someone has a remote job, they can work for a few hours and spend the rest of the day building their online business. Young adults living with their parents have a few years to focus on their entrepreneurial endeavors, knowing they have zero expenses.
Men under the age of 28 have a massive advantage, primarily because they hit their peak anywhere from the age of 32 to 38. Women, on the other hand, feel the pressure to get married and have children by the age of 29, reducing their chances of achieving their goals. Men can dedicate every single hour of the next three years of their lives to become a millionaire without worrying about a partner or anything else. Most people have grand aspirations for what they want to achieve in the next 12 months, but they often do not achieve them.
Time is by far the biggest asset that an individual can possess. Most people discount what they can achieve over a multi-year timeline, but it is crucial to think beyond 12 months. Watching and absorbing content that teaches how to achieve financial freedom through YouTube can guarantee that an individual becomes a millionaire within five to seven years. Individuals in their teens or twenties have the biggest advantage, which is time. Time is an incredible phenomenon that offers an opportunity to build a character, achieve accolades, and accomplish business goals. Most people who are successful online were broke until their late 20s or early 30s.
Out of all the things an individual can have, time is the number one advantage. It guarantees success and offers opportunities that are hard to come by. For instance, having achieved 30 million dollars at 22 years old, being in excellent shape, and having an insane network, the number one advantage is time. If given a chance to start over with none of the accomplishments, the best option would be to go back to 22 years old. Time is a precious commodity that one should take advantage of.
The Macro Perspective: Time as a Massive Advantage for Men
Men under the age of 28 have a massive advantage, primarily because they hit their peak anywhere from the age of 32 to 38. Women, on the other hand, feel the pressure to get married and have children by the age of 29, reducing their chances of achieving their goals. Men can dedicate every single hour of the next three years of their lives to become a millionaire without worrying about a partner or anything else. Most people have grand aspirations for what they want to achieve in the next 12 months, but they often do not achieve them.
The Biggest Asset You Have
Time is by far the biggest asset that an individual can possess. Most people discount what they can achieve over a multi-year timeline, but it is crucial to think beyond 12 months. Watching and absorbing content that teaches how to achieve financial freedom through YouTube can guarantee that an individual becomes a millionaire within five to seven years. Individuals in their teens or twenties have the biggest advantage, which is time. Time is an incredible phenomenon that offers an opportunity to build a character, achieve accolades, and accomplish business goals. Most people who are successful online were broke until their late 20s or early 30s.
The Number One Advantage
Out of all the things an individual can have, time is the number one advantage. It guarantees success and offers opportunities that are hard to come by. For instance, having achieved 30 million dollars at 22 years old, being in excellent shape, and having an insane network, the number one advantage is time. If given a chance to start over with none of the accomplishments, the best option would be to go back to 22 years old. Time is a precious commodity that one should take advantage of.
Three Life Options to Secure Your Financial Future
Starting an Online Business
Starting an online business is a popular choice for those seeking financial independence. With the right systems and processes in place, you can leverage other people's resources or time using a concept called Arbitrage. This strategy, employed by companies like Uber and Airbnb, can be adapted to any business model. To learn more about the most common online business models, check out a video made earlier this year.
Leveraging Skill Sets
If you possess a valuable skill set, you can use it to earn a good income. The key to success is how you position and sell your services. For example, an editor who charges $2,500 per month could increase their income to $6,000 by framing their service as a performance editor. By focusing on retention, the editor can demonstrate their ability to attract more views, thereby justifying the higher cost. It is crucial to know how to frame and sell your services to the right organization, company, or client. If you can demonstrate the return on investment (ROI), companies will pay for it. At times, a person's pre-existing skill set is the best place to start. The most successful employees can make upwards of $20,000 per month, proving that leveraging skill sets is an effective strategy.
Free Internship
Becoming an apprentice or accepting a free internship can be a viable option if you are just starting. However, do not assume that you are valuable to a company just because you have free time. It is essential to approach the process professionally and present a portfolio of your work before expecting a company to invest 40 hours in training you. The right approach is to offer to work for free for three months, proving the quality of your work. Then, after three months, propose a reasonable salary based on your work's quality. If the company decides not to offer you a job, take it as an opportunity to learn from the experience.
Conclusion
To sum up, having a unique skill set, a strong network, and leveraging your unique strengths are crucial components in achieving financial abundance. Therefore, it's essential to evaluate your assets and identify which ones can help you achieve your goals. Remember, it's not always about working hard but working smart and utilizing your unique advantages to create opportunities for yourself. By doing so, you can transform your financial situation and build a beautiful future for yourself and your family.