🔑 This man built a company worth $100M - here is an important strategy I learned from him:

January 24, 2024

Welcome to The Business Academy.

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This week I was feeling a bit lazy.

A big hotel conference was happening in my town, but I hadn’t bought a ticket. I didn’t feel like going.

But I knew I should go...

This happens to all of us. We feel lazy, and lethargic or make up an excuse not to attend something important.

When this happens I remind myself of this:

it doesn’t take a lot of luck to be very successful in the work I do. I just need a little bit of luck, every once in a while.

A single deal can be worth millions of dollars.

This reminder got me out of my office...And I went to the event. On my way to the event, I texted a few brokers I met in the past. They happened to be there.

Here’s the result of me attending the event:

  • I made 5 to 7 new high-value contacts who were introduced to me by other people there
  • The brokers I knew introduced me to 4 to 6 relevant deals that fit the buy box for what I do

I didn't even buy a ticket to the conference. I just stood outside and spoke with people.

Tony Robbins says “Proximity is power”.

That means you don’t need to have incredible charisma. You don’t need to be the smartest person in the room. Just show up, and soak up as much as you can. And if you keep showing up, good things will happen.

Turn on "Discovery Mode"

One of my new investors has a trick he uses for these situations. He built a company worth $100M+. He’s always been an entrepreneur. He’s kind, he’s curious. He is not an extrovert but he really cares about you when he’s talking to you. And it opens a lot of doors for him.

When he’s in between projects he tells himself to turn on “discovery mode”.

When discovery mode turns on he has a different attitude about his use of time. He attends more events. He reaches out to interesting people to learn from them. And he tries new projects.

If you’re in a stage in your career where you want to create more opportunities, turn on “discovery mode”.

When you turn on Discovery Mode, you are the most curious, interested, proactive, and open-minded version of yourself.

Here’s what you can try this week:

  1. Turn on "Discovery Mode"
  2. Look up 3 trade shows you want to attend this year, and book them now
  3. Look up a meet-up in your area (Try Meetup, or Facebook Groups or EventBrite). Go meet with people. There may be 1 other person who shows up. There may be 20 people.

A few final comments...

It’s ok to be shy. I’m shy. When I go to an event, my goal is just to meet people and learn as much as possible. I ask simple and childish questions. It helps me learn.

Don’t keep score. Your goal at this event isn't to find a customer, partner, or investor immediately. Setting those goals is unrealistic.

You can celebrate yourself for getting out of the house, being bold, and building connections with people that may create opportunities for you later on.

Let me know if you do this! I'd be happy to hear from you and we can celebrate you together.

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🔑 One good read

Li Lu's speech at Columbia - These are the notes from famous investor, Li Lu's speech at Columbia on investing in the stock market. This will be interesting for people who want to understand how to value a company, and the list of questions to go through as you learn about the business' merits & valuation.

Li Lu is recognized as one of the world's top investors (30%+ returns for 25 years). He was the only money manager Charlie Munger trusted with his money.

How Asian Investor Li Lu Achieved a 30% Return For 25 Years ...

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Have a great week!

Sieva

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Disclaimer: nothing here is investment advice. Please do your own research. The information above is just for information and learning.