Episode 55: How to become a millionaire taxi driver (or other)
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Yesterday’s Podcast got mixed reactions. Some good. Others complaining. Nothing new there.
“Yes, but…" “My situation is different…" “That won’t for me…" Bollocks is it different, and how do you know if you never try? For example, one rather sarcastic comment read:
I was a taxi driver, I could work for 24 hours a day. Should I had driven a taxi without sleep time? ー Takuya Yamamoto Yeah, yeah, I get it. This is a pretty typical attitude, though. And it’s one that holds you back. For two reasons. The main, and most important reason is something I talk about in detail in June’s Doing English+ newsletter. But the second problem here is that Takuya, like many people, is limited by his thinking. Say you work for $10 an hour, and you want to increase your wage. You just work more hours. So instead of working 8 hours, you work 10 hours. Very quickly you reach your limit…. … and you’re left feeling bitter and frustrated like your friend Takuya. But in reality this kind of thinking is totally wrong. The
Pareto Principle tells us things are never, ever linear. 80% of a result always comes from 20% of the causes. Let’s say you work for 10 hours, and make $100. How much is that per hour? If you say $10, you’re totally wrong. It’s actually more like $80 for one hour, then the remaining $20 spread over 8 hours. Essentially you could have worked 1 hour, then gone home and you’d still have 80% of the money. The question then is simply ー
What did you do during those super-productive 1 hour, and how can you do more of that? This isn’t as simple as it seems, but with a little creative thinking, it’s not really that hard. Don’t believe this can be done for a taxi driver? Go read this article: http://www.earlytorise.com/lessons-from-a-millionaire-taxi-driver/ Then ask yourself, how can I do the same thing?