Tai Lopez Notes for Chp: 37 “About life”: Land, Labor and Capital. Find the advantage.

guidelines, habits, frameworks

love, health, wealth and happiness.

Why restaurants fail.

Why do they? Too much competition. Lease, equipment, skill and loyalty. What you need to succeed and apply to anything. Generally it’s about missing out on one of these factors. Land, Labor or Capital.

Right time, right place makes right decision. It’s a poor decision if you don’t have a direction.

Economics: 3 classic faction of production. Land Labor and Capital.

Land(connections): Connection, positional advantage, it’s who you know. It’s not what you know it’s who you know. People you’re spending time around.

Labor: Your skill and skill of team. The things in your head, the books you read and things you know.

Capital: Cash. Free money for you to invest into you. Requires money to buy nutritional foods and eating right.

Classic faction of production goes up when you gain momentum and positional advantage. In a war you set your enemy up to lose by positioning yourself so that they work against gravity in a fight. In war you would be on top of a hill and whereas the enemy is at the bottom of the hill running up the hill to get to you.

Land: know people involve yourself with who are knowledgeable.

Labor: You need to be a learning machine. Read more think more do more.

Capital: Investment capital.. save up and work your way up. Raise your capital. Business concept: investment private public, private placements, bonds, debt, credit card, franchising fees, liscensing fees, consulting.

Simplest way is to be a good steward with your money.

Joe Salton: “everyone wants to be me where i am now. When i was young i live in my parents attic and saved money. Spent only 100 bucks in 20 years.” People who balance consumption and savings (stoic, and epicurian) to put off present pleasure for future, get what they deserve in the end.

67 steps to open your mind. This is why it succeeds and this is why it fails. Isolate patterns between the rich and poor and make good decisions. The importance of advantage when you set out in business. Establish the advantage, work to get the advantage.

Strat: Ask: Do we have more land then other people..

Do we have an advantage there?

Ask:  Do we have more Labor then other people?

Do we have an advantage there?

Ask: Do we have more Capital?

Do we have a advantage there?

probably not but we can make an investment fund that invests in internet business. The internet niche. We don’t need to compete foot to foot with lets say a big established company, but we can use internet, media and the niche to get an advantage in business.

Are you skilled enough to stand in from of kings. Do you have cash in order to make your dreams come true?

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