Growth Mindset

One thing I always default to is this: Growth rate > absolute growth

If you compare yourself in August 2023 vs. August 2022, the difference you’ll notice is absolute growth. It is just how much you’ve grown from a time in the past.

But what’s more impactful to focus on is your growth rate because that is a result of small things compounding over a period of time. This approach is the Pareto 80/20 Principle; roughly 80% of consequences come from 20% of causes.

Trust the process, enjoy the journey, and let compounding do its magic.

Entrepreneurship & Finance

Here’s something I built in less than 3 hours with barely any coding knowledge:

You only need 2 tools to do the same, and they’re free.

1. A no-code website builder. I use Carrd for this because it’s simple, cheap, and gets the job done.

2. ChatGPT. You don’t even need the Pro subscription to get this done. Here’s the actual conversation I had to get an output I was satisfied with: ChatGPT conversation

Explain your idea to ChatGPT, and get it to do the heavy lifting. Then just copy/paste the code into your no-code website builder and ta-daaa!

If you’re not using AI to your benefit in 2023, you’re no different than boomers skipping out on the internet.

How I’m planning to turn this into an income stream

1. Option 1: Google AdSense. Basically earning money from ads being placed on your website. Other similar tools make over USD $100,000 annually from ad revenue. (Side note: remember Flappy Bird? It was maintained by one person and made $50k per day from ad revenue).

2. Option 2: Starting a premium subscription. An example would be adding a cap on how many conversions a user can make in x timeframe.

But these decisions only come after figuring out how to drive traffic to my site in the first place. I’ll be experimenting with programmatic SEO (generating hundreds of articles in minutes to rank up on the Google search results page).

Document your ideas. Ship fast, test fast, fail fast, learn fast. Move on. Don’t take failure/rejection personally and you’ll do twice as much as the average person. Your future self will be grateful for it.

Freedom

I’m on month #2 of my digital nomad journey. Started out in the French Riviera, and now in the culture-rich city of Florence.

I would do this full-time travel thing indefinitely but something is holding me back. Here’s what I have to change to live it to the fullest.

1. Freedom of finances. The extra travel expenses I would incur makes me not explore a lot of places beyond the city my accommodation is in. Comfort and flexibility come at a premium.

2. Freedom of time. My income streams are still very active in the sense that I have to actively work to maintain it. Despite my already highly flexible remote work arrangement, my day (to a certain extent) still revolves around deliverables. More passive income streams are my solution to this.

Overall, traveling has given me the space to reflect more, to meet very interesting characters, to notice the wonder in everyday things, and to enhance my perspective. If you haven’t, I definitely recommend going on a trip to somewhere you’ve never been to, and keeping the itinerary light (quality > quantity).

Homework

Reflect on your growth rate: What decisions did you make that seemed to be trivial at the time, but contributed to the bulk of the outcome you benefit from today?

This could be your finances, relationships, career, happiness, lifestyle, etc.

An example is my finances. Below is an actual projection I made months ago. Pay attention to how my priority was increasing my growth rate as opposed to making x amount of extra money. The absolute amount of extra money is just a byproduct of my growth rate.

Till we meet again next week.

Cheers to the future,
Ernest
indiepreneur, digital nomad, transhumanist

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