In this Episode:
In this fourth installment of the "Refocus to Rise" series, Mark and Theron discuss the concept of Wealth—not strictly in financial terms, but through the lens of investing in yourself. They argue that self-improvement operates like compound interest: small, consistent investments in your skills and knowledge early on yield massive results over a 10-year period.
Key Takeaways
- Compound Interest of the Self: Just like financial investing, you may not see immediate results from reading one book or taking one course. The magic happens through consistency over time.
- It's Never Too Late: While starting young is ideal, the hosts share the example of a student in his 60s who reinvented his career as a consultant, proving that reinvesting in your skills keeps you mentally fresh and purposeful at any age.
- Free vs. Paid: You don't need money to start. You can invest time (YouTube, podcasts, libraries) just as effectively as money (coaches, courses).
The 3-Step Action Plan
Step 1: Identify Your Current Capital (The Audit)
Before you can invest, you need a balance sheet of what you already have.
- Audit Hard & Soft Skills: Write down your abilities.
- Identify High-Yield Assets: What are the 2-3 things you are naturally best at? These are your superpowers.
- Identify Liabilities: Be honest about your weaknesses. Knowing where you lack organization or skill allows you to either work on it or hire someone else to handle it.
Step 2: Choose Your Next "High-Growth" Investment
Decide where to allocate your time and resources based on your audit.
- Align with a 5-Year Goal: Ensure the skill you are learning bridges the gap to where you want to be.
- Be Specific: Avoid vague goals like "get smarter" or "make more money." Use concrete targets (e.g., "I will learn to read a balance sheet").
- Prioritize "Compounding Skills": Invest in skills that make everything else easier. The hosts specifically recommend Communication, Financial Literacy, and Discipline.
- Mark's Example: He realized early on that to succeed in martial arts (teaching/sales), he had to invest heavily in overcoming his shyness to become a master communicator.
Step 3: Make Your First "Micro-Deposit"
Move from "I should" to "I am" by getting skin in the game immediately.
- Commit Time or Money Now: Don't just list it; schedule a study block on your calendar or buy the book/course immediately.
- Create an Investment Environment: Set yourself up for success (e.g., have the next book ready to read before you finish the current one).
- Social Accountability: Tell a friend your "investment thesis." Engaging in healthy competition (like sparring in martial arts) pushes both people to grow faster than they would alone.
Conclusion
The hosts encourage listeners to treat their personal growth with the same rigor as a financial portfolio. By auditing your skills, choosing high-value targets, and making immediate deposits of time and effort, you build a life of high value.
ARN Suggested Reading:
Blessings In the Bullshit: A Guided Journal for Finding the BEST In Every Day – by Mark Cardone & Theron Feidt
https://www.amazon.com/Blessings-Bullshit-Guided-Journal-Finding/dp/B09FP35ZXX/ref=sr_1_1?dchild=1&keywords=blessings+in+the+bullshit&qid=1632233840&sr=8-1
Full List of Recommended Books: https://www.achieveresultsnow.com/readers-are-leaders
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