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Nick Huber
@sweatystartup 4 years, 2 months ago 728 views

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What successful people understood before they were successful.

A short thread.

Mentorship isn’t about finding a great mentor.

It’s about becoming a person great mentors WANT to help.

Hiring isn’t about finding good people.

It’s about becoming a person good people want to work for.

Wealth isn’t about extracting value from others.

It’s about adding 10x as much value as you want to receive.

Winning doesn’t mean others lose.

The real winners help 1000 others win with them.

People do business with people they like.

Become a person others like.

You can’t please everyone.

Please the people who are who you want to become.

Business is about momentum.

What you do on day one will look nothing like what you’re doing on day 10,000.

You get ahead by saying yes to everything.

When you get momentum it’s much more about saying no.

A very small amount of your relative effort will generate an outsized amount of your success.

When you take time to zoom out and figure out what that is, you can do much more much faster.

Give up quickly.

Time is more valuable than money.

Being selfish is okay. Everyone is selfish.

Find a way to make sure everyone wins and everyone can be selfish for good reasons.

Selfish + abundance = wins

Selfish + scarcity = losses

1/2 the folks in this world are leaches.

Take take take. Give nothing.

Avoid these people. Do not bring them along on your journey. Do not hire them. They drag everyone down.

Sales is the key to success.

Being able to sell yourself and your ideas is how you win.

Being comfortable being uncomfortable is how you win.

Everything worth doing in this world requires you to get uncomfortable.

Entrepreneurship doesn’t have to be risky.

Opportunity =\= risky

Being a good businessman and having financial success is a small part of the big picture.

The key is finding a way to be a good friend, husband, father at the same time.

Consistency is way more important than efficiency.

Anything worth doing gets really tedious 2 years in. Year 2-5 is the critical period.

If you want more content just like this, signup for my newsletter at https://t.co/FEt1sBoSWS

Thank you for reading!

TLDR:

Make yourself into the person who deserves what you want out of this life.

More from Nick Huber

Nick Huber
@sweatystartup

Don't identify yourself with any one business or one industry.

Be an open-minded opportunist.

Nick Huber
@sweatystartup

A hill I'll die on:

95% of entrepreneurs should forget about technology (a few big fish and a lot of sophisticated fishermen) and focus on small business (small fish everywhere and really crappy fishermen).

A THREAD:

Be like water.

Take the path of least resistance.

The goal of every entrepreneur should be:

#1. Gain financial freedom

and

#2. Maximize probability of achieving #1

Because when you have financial freedom your world opens up.

You can start doing what makes you happy.

And you can positively impact a lot more people with project #2, 3, 4 etc. You're in a position to try to change the world if you have financial freedom.

So why don't more folks think about opportunities with more weight added to #2?

The odds part. The risk. The probability.

The amount of small businesses in America that absolutely print money and still do business like it’s 1985 is astounding.

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Nick Huber
@sweatystartup

Entrepreneurship culture in America is all messed up and it’s a shame.

TechCrunch. Product Hunt. Shark Tank.

It’s all about new ideas. Changing the world. Innovation. 0 to 1. Blue ocean. Venture capital and exits and scalability.

And ITS ALL A LIE.

You ask the average american who a real entrepreneur is they’ll say Jobs, Musk or Zuck.

We read their books and idolize them and hang on their every word.

So the brightest among us think they need a moat. A new idea. Something revolutionary.

Were setting them up for FAILURE.

I took an entrepreneurship course at Cornell in 2011. 24 kids with new ideas. Big plans. Pitch decks looking for series As.

I was #25 with a regular old-fashioned business.

When professors asked me what my differentiator was I didn’t have an answer.

I saw a company out there doing sweaty, non scalable work. They were terrible at it.

I started by trading my time for money. Bought a $1500 cargo van. Used the things I had in my life to make some profit.

I wasn’t trying to educate a customer base.

I wasn’t following my passion.

I didn’t need funding or a network.

I wasn’t competing against brilliant folks from Stanford.

I want trying to prove a concept.

I wasn’t emotionally attached to anything except adding value.

Nick Huber
@sweatystartup

The wealthiest person I know prints millions out of thin air in the real estate business.

This is what he does...

A thread.

He finds a distressed retail plaza. Let's say 50% of the space isn't leased.

On a 300,000 sf plaza that might mean 150k square feet is vacant.

If asking rent is $8 per square foot per year, that means the building has a "potential revenue" figure of of $2.4MM.

So in this retail center 50% is leased and 50% is vacant. So the actual revenue, right now, is $1.2MM.

Most retail leases are whats called "Triple Net" or "NNN". This means the tenant pays the taxes, insurance, maintenance and CAM (common area maintenance).

They basically pay all of the landlord's expenses (except debt service on any loans he/she has, of course).

Commercial properties are valued based on something called a "cap rate".

The equation is:

net operating income / (cap rate) = value

The cap rate is a %.

Think about it as the return on your money, annually, as a percentage, you spent to buy a property.

Nick Huber
@sweatystartup

A THREAD on how most real estate folks structure deals with outside investors.

Most people utilize the "preferred equity" structure when they raise money from outside investors. They "syndicate" deals.

Here's the basics:

The person (or team of people) putting the deal together is the "sponsor". Also called general parter. Referred to on twitter as the GP.

They find the property, do all the work, hire the management company and take fees. They often co-sign debt and always secure the financing.

The investor is generally passive, doing no work and putting in cash. This is the "limited partner". Referred to on twitter as the LP.

They don't co-sign debt. They simply read reports and ask the sponsors questions and cash checks every month (if the deal is going well).

There are two equity classes.

"Preferred equity" belongs to the LPs. Cash talks, so this is a higher class of shares. They are first in the "capital stack" behind the debt (bank loan).

"Common equity" belongs to the sponsor. They are generally last in the capital stack.

Sponsors generally co-invest. That means they hold both equity classes. A 10% co-invest is standard.

That means the GP has skin in the game. His 10% co-invest makes him both an LP and a GP.

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$Peter McCormack [Jan/3\u279e\u20bf \U0001f511\u220e]$

Peter McCormack [Jan/3...
@PeterMcCormack

1/ So here is a thread on how I turned $32,000 into $1.2m and back to pretty much zero (once taxes are paid).

Just note, I am not bitter or salty in any way at all, the last 2 years have been an amazing ride - travelled the world, been wealthy, been poor.

2/ Dec '16, my advertising agency folded, I had a little bit of money left and I put $32k into Bitcoin and Ether. As it started to go up I diversified into everything, Monero, Dash, this that, any crap - even Ripplecoin. Everything just kept going up.

3/ By March I think I had around $300k and $500k by the summer. I used to take 25% out but towards the end of the summer I got greedy and put it all back in and by December it was $1.2m.

4/ Thinking I was an absolute genius I decided to start a bunch of businesses. As silly as it sounds I had this goal of making $5m as I wanted to buy Bedford Town Football Club and get them in the league, and as Crypto was going up forever I needed 6 months.

5/ So:
- Trading (income 1)
- Podcast (income 2)
- Mining (income 3)
- Mining pool (income 4)
- Consulting (income 5)

Yes - all of the above as a one-man army :)

Mentorshipzim
@mentorshipzim

MY JOURNEY AS A DIESEL PLANT FITTER
My journey started in March 2005 when I got an offer of apprenticeship from CMED. I knew nothing about cars and earthmoving equipment.

I also did not know what a Diesel plant fitter was (our education should do better on this front, careers should not be accidental). When I was chasing apprenticeship, I wanted to be an Auto electrician. When the CMED advert came out I did not have a driver’s licence

or learners’ licence, which is a prerequisite if you want to train in the Automotive industry. Diesel Plant Fitting is classified under the Mechanical Industry, so a driver’s licence is not required on application. I was, however, asked for it during my interview and I had one

The interview was hilarious, I cracked their ribs every now and then but that is where I learnt how to take control of an interview. (I knew no one there as well). I told them from the onset that I knew nothing about the trade, but keen to learn, that is why I applied

They asked me what I knew about mechanics in general. I responded that I knew bicycle mechanics because that it what we had at home and everything else contained in the O level integrated science book Science in Zimbabwe. So, they asked me about stuff that was in

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$\u061c$

؜
@levelsio

Rules of Happiness

💖 Have friends around you
🌳 Have freedom
🎨 Do meaningful work
💳 Spend $ on experiences, not things
🤝 Help others with what you're good at
👇 Lower your expectations
💪 Exercise + eat healthy
🤔 Reflect on thoughts

via

Wealth Director
@wealth_director

10 Types of Toxic People You Should Avoid in Life

=A THREAD BY WD=

1. The Manipulator

It’s one of the most seen toxic traits.

They pull time and energy out of your life.

Manipulators always want something from you,
They’ll do anything to win you over.

2. The Liar

If a person lies to you for the first time; forgive them. If a person lies to you for the second time, avoid them.

Never lie to someone who trusts you. Never trust someone who lies to you.

3. The Gossiper

“Great minds discuss ideas, average ones discuss events, and small minds discuss people.”

They also have an uncanny ability to put your success in danger.

Stay away from the gossip. They’re unkind, unproductive, and will hurt your chances for success.

4. The Envious

Envious people are jealous of your achievements, happiness, success, and the love you receive.

Keep an eye on such types of toxic people to avoid disturbance in your life.

Dragon Inve$tor.
@Dragon_Investor

5 Problem-solving Skills From a Chess Grandmaster You Must Learn and Teach Your Children.

How do I solve my problems? Does everyone know how to solve all their problems?

At times, it happens that the principles of games like chess and poker help us solve most of our problems.

Which principles are we really talk about?

1. Working backwards - By looking back, you have past experiences of most problems, or have seen someone solve the same problem in the past, this provides solutions to present problems.

Look back and find the best possible solutions.

2. Have a realistic view - it happens, when we're doing something, some steps that come at later stages are rushed up or ignored. As a result, we get stuck because we give too much attention to the beginning instead of the journey to the end.

3. Simplify - Simplify a situation and narrow down the things you need to do because too many choices create confusion. It becomes difficult to make decisions.

Try to make things as simple as possible.

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Trump is gonna let the Mueller investigation end all on it's own. It's obvious. All the hysteria of the past 2 weeks about his supposed impending firing of Mueller was a distraction. He was never going to fire Mueller and he's not going to

BREAKING: President Donald Trump has submitted his answers to questions from special counsel Robert Mueller
— Ryan Saavedra (@RealSaavedra) November 20, 2018

Mueller's officially end his investigation all on his own and he's gonna say he found no evidence of Trump campaign/Russian collusion during the 2016 election.

Democrats & DNC Media are going to LITERALLY have nothing coherent to say in response to that.

Mueller's team was 100% partisan.

That's why it's brilliant. NOBODY will be able to claim this team of partisan Democrats didn't go the EXTRA 20 MILES looking for ANY evidence they could find of Trump campaign/Russian collusion during the 2016 election

They looked high.

They looked low.

They looked underneath every rock, behind every tree, into every bush.

And they found...NOTHING.

Those saying Mueller will file obstruction charges against Trump: laughable.

What documents did Trump tell the Mueller team it couldn't have? What witnesses were withheld and never interviewed?

THERE WEREN'T ANY.

Mueller got full 100% cooperation as the record will show.

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NARHARI AND BHAGWAN PANDURANG/VITTHAL

Once a goldsmith by the name of Narhari lived in Pandharpur. He excelled in his craft. He had vowed not to look at Pandurang or visit his mandir ever, as he was a Shiva Bhakt.
One day, a wealthy merchant visited him.

He wanted a gold girdle studded with precious gems, to be made for Prabhu Vitthal. Narhari refused to make it as it was for Vitthal.
After many requests, he agreed to make the girdle but asked the merchant to bring the measurement from the mandir as he himself would not go there

The measurement was given n he made the girdle. When the girdle was put on Vitthal, it was loose. Narhari had to shorten it. Now the girdle became tight. So Narhari was forced to take measurement on his own. He had to go to the mandir but went blindfolded to avoid seeing Vitthal

In the Mandir, when blindfolded Narhari touched Vitthal, he felt as if he was touching Shiva with matted hair, the moon, snake in His neck and Trishul in His hand. Ecstatic with joy, he removed the blindfold to see Shiva but he found the murti of Vitthal with Rukmini there.

He realised the truth that there was no difference between Vitthal and Shiva. Narhari at once fell at the feet of Panduranga. He then took the measurement of the waist of Vitthal and this time the ornament fit the Murti perfectly.

Narayan Hari🙏🏻

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itrade(DJ)
@ITRADE191

Here is the detailed information of about strategy,

Entry time : 9.30 - 10
Exit : Upto you

Strategy :
Sell weekly ATM CE & PE at almost equal price
For ex : Sell Nifty 17250 CE at 50 and Nifty 17250 PE at 48 so it will become short straddle

Buy monthly ATM or near ATM CE & PE at matching price (5-10 points diff should be fine) as hedge
For ex : Buy Nifty 17250 CE at 150 and Nifty 17300 PE at 155 so it will become long straddle.

Weekly Short straddle + Monthly Long straddle

Adjustment:

• If you feel slightly bullish/bearish then no adjustment needed
• If Nifty moves 50 up or down and sustain then just simply roll up or down half of qnty and keep rest of the quantity. If market goes up or down further then roll up or down rest.

• If Nifty moves one side or about to breach BEP then add equal amount of lot. This can balance tested side. For ex: If I bought 17300 CE 4 lot as hedge then add 4 lot so you will have only one side risk . Note: Remember to keep SL at cost price (only for additional lot bought)

Capital requirement:
2.2 L for 4 lot
Adjustment requires additional capital upto 1L

Note : High risk high reward strategy, please don’t execute until you fully understand. Kindly do paper trading or backtest.
RR : 1:1
POP : 45-55%

Vibhu Vashisth
@VIBHU_Tweet

LACHIT BORPHUKAN : AN UNSUNG WARRIOR OF THE AHOM KINGDOM & THE GREAT BATTLE OF SARAIGHAT

Originally named as Lachit Deca, Lachit Borphukan, the fierce and invincible Ahom Commander, was born during the early 17th century at Betioni in the Golaghat district of modern Assam.

His father, Momai Tamuli Borbarua was the ‘Governor’ of the kingdom and also ‘Commander-in-Chief’ of Ahom army under King Pratap Singha during his reign starting from 1603 to 1639. Lachit received military training from an early age and joined the Ahom King Jayadhvaj Singha...

...(1648-1663) as a scarf-bearer. The post ‘scarf-bearer’ or ‘Soladhara Barua’ is considered as a part of the incumbent king’s personal staff. Owing to his military training Lechit was appointed "Ghora Barua", Supdt. of the Royal horses. When Chakradhwaj Singha became king..

..of Ahom dynasty in 1663,he appointed him Suptd. of The Royal Guards &finally he was appointed as Borphukan by the king.Then onwards,he was known as Lachit Borphukan.Borphukan used to be top councillor in Ahom Kingdom. This position was embedded with executive & judicial powers.

Assam was facing incessant Islamic invasion since Jan1662, when Mughal General Mir Jumla II attacked Ahom capital Gargaon. He never defeated Ahom king Jayadhwaja Singha as king retreated to hill &continued Guerrilla warfare.Prolonged fight &prospect of stalemate disturbed Jumla.

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Hey, who wants to read a story about @Upwork fucking over freelancers in order to upsell their clients on unnecessary services the clients don't want and can't afford? Strap in!

So after my marketing agency closed I started freelancing again. A marketing company that wanted to work with me only hires freelance writers through @Upwork. So I signed up. I wasn't thrilled about it, but that's who they contract with and it's their marketing company.

I've been receiving regular assignments from this company, thru @Upwork, for over a month now. I've written dozens of articles for them. My work has been exemplary. I've been handling repeated rush jobs and delivering. The client was and is very happy. That's coming from them.

While I was wrapping up several assignments this week I was contacted by the marketing company. They asked if I had taken a new full-time job and wasn't available anymore. It seems @Upwork's talent group told them I was no longer available to take assignments.

I was very surprised. Nothing had changed on my end. I still needed the freelance work very much. I told them so. So the marketing company pressed @Upwork and were told there were "compliance" issues that were preventing the marketing company from giving me any more work.