Amazing Podcast by @ipoojasharma mam with @LifeMathMoney sir sharing his wisdom !

A Gem for Knowledge ! Learned a lot !

Time for thread

At age 16 you don’t have any idea what you’re up to and what your future plans could be

So you choose to study what you are told to choose and continue the flow your friends are in

If someone has experience of real world like a job, he has some idea of what real work is like but at that young age,
When you just come out of 12th standard you have no idea about career and real world

Picking your career right at the beginning is not a working system, you first have to realize if you really need to do this degree or not

If you want to start a business you don’t need any degree, you just need to have good concept and be smart

STUDY TIP : Don’t let your Syllabus pile up, keep doing it; make it a rollover thing

Every weekend just complete whatever was taught to you in class

Any of the Professional degrees are not a good idea. You might do it for knowledge but at the end of the day they are not as useful as you might have led to believe

As a businessman it will be very helpful to know how accounting works, how auditing works, how to manage working capital, but it makes no sense to spend 5 years learning that on school

The relevance of these degrees as time progresses and as we move into the technology age, goes down and down, so graduation degree is like worthless

INTERNSHIPS AT BIG FIRM: avoid audit department in general because you would end up doing the same thing over and over again

Eventually it stops becoming about learning and it starts becoming about getting things done

INTERNSHIPS AT MID SIZED FIRM: if a firm cannot pay you 4-5 thousands rupee in starting, don’t join that firm

Because a guy who cannot pay you that amount of money cannot teach you anything you want to learn

When you spent 2-3 years working for someone else, you want a return on your investment

Make sure it’s a firm that actually has a variety of work, it has different kinds of clients and it’s willing to give you different types of work

Most people grow up, they go to school, they spend 40 years working and then they die

If you want to do something bigger than this you must have purpose in life

Money can’t be purpose because if you do things right you will eventually make money and then what?

You will get bored and throw away your life waste

You want a bigger purpose than money

ENTREPRENEURSHIP JOURNEY : You should not expect for it to be easy. The way they show in movies is not how it works in real life

You are not going to be having fun and parties, if it’s fun you’re doing it wrong

You should focus on your Growth rate to be high and you will grow exponentially

If it’s not growing fast it’s a traditional business, it is not a startup

As a startup owner make sure product is good and make sure a certain population of whatever niche you are occupying really loves your product

What people end up doing is that they end up making a product that everybody sort of likes, nobody likes it too much but everybody kind of likes

So, people will not spend money on that and you won’t have good business

You gotta Put yourself outside of your comfort zone

BOOK RECOMMENDATION FOR THIS : The 4-hour workweek by Tim Ferris

SPECIAL SKILLS TO MANAGE ONLINE BUISNESS : You don’t have to do a course or build the skill beforehand

You will face enough problems and you learn quiet a bit

Everything else you need to know, you end up learning during the work process

Don’t let other people reject you, don’t do the rejection for them, let them reject you

Eventually rejection is a lot better than regret

Instead of doing courses that the industry likes, you should do courses in variety of fields that are not related to you

Because it improves your thinking process, it improves the amount of ideas you have in your head and it really helps you in the long run

Don’t focus on one industry, it’s a mistake

Specialization is for Insects

FACING ADVERSITIES :
1) Go to a Gym and start lifting weights (Recommended Book : Starting Strength – Mark Rippetoe)

2) Start Meditating and you will be able to provide stability to thoughts and emotions

Don’t be the guy who does everything perfect for one week and then stop showing up

You want to be Consistent and consistent for long enough

If you want to learn things that are relevant in real life is to do things that are relevant in real life

There is no course that is made specifically to face every problems in life

THREE IMPORTANT LESSON FOR PEOPLE WHO ARE IN THEIR 20S :

1)Keep your Health in order : Go to Gym, workout, start meditating

2)Read a lot of Books : You end up with a lot of ideas, mental models and experiences of other peoples

He reads at least 20 pages a day anything Blog or Books. Reading doesnot mean Fiction or entertainment books, it means Non-Fiction serious reading

Any problem you face in your life has been faced by someone else before, you are not special or unique and you want to cut short the time to solve that problem

As many lesson you learn from other people is time saved in your own life

3) Don’t waste time on Social Media, don’t waste your time on TV, don’t waste your time Day Dreaming about XYZ

The thing is if you keep focused for 5 years you end up at a completely different level than other people

When you are working hard on your own life you see other people having fun and that makes you want to have fun, you’re like I want to go to party

But if you spend out 5 years working on yourself, you will find that all these people are like completely beneath your level like if they wanted a meeting with you, you would not say yes because it would be a waste of your time

Thank you for such a great podcast @ipoojasharma mam & @LifeMathMoney sir

Full Podcast link :