7 things I learned from 9 years of IWT

I’m {not just a} sentimental dude. But this week, “{I’LL} {EDUCATE YOU ON} To Be Rich” turns 9 {yrs . old}, and I’ve been {taking into consideration the} last NINE YEARS of writing {a huge selection of} blog posts, {a large number of} emails, and {an incredible number of} hilarious jokes.

In 2004, I wrote my first {post}, which was {concerning the} first steps to getting rich. {IT HAD BEEN} HORRIBLE! I said that Step #1 is knowing {everything you} spend. {That’s} exactly WRONG! I used {the term} “budget” multiple times. I had no narrative, only boring information.

In short, I hate myself of 2004.

picture of Ramit in college

picture of Ramit in college

College Ramit repping thugs

But {at the very least} {I acquired} started.

I continued developing my philosophy and systems. I tested my material with hundreds, then {a large number of} people. I learned {how exactly to} track results, stop nagging (like 99% of other “{financial specialists}”), and {concentrate on} the Big Wins.

Slowly, {the website} {began to} get readers. The Wall Street Journal covered me. Then, {a fresh} York Times best-selling book. {A} 6-page Fortune profile, and Forbes putting me {close to} Warren Buffett.

Picture of Ramit Sethi and Warren Buffet in Forbes magazine

Picture of Ramit Sethi and Warren Buffet in Forbes magazine

Warren is {inside your home} ({that has been} his actual first tweet ever)

All {of this} {is fantastic|is excellent}, and it’s nice to be recognized since we’re doing something nobody {did} before: we’re {concentrating on} living a Rich Life.

And we’re {carrying it out} NOT by dumbing things down, or {attractive to} {the cheapest} common denominator, but by relentlessly TESTING our assumptions. Do we {should} keep a budget? Should we really submit our resume through job websites? Do we {should} {take up a} Facebook page {to possess a|to get a} successful business?

More importantly, {we’ve} CONCRETE results. While {a large number of} life coaches (AKA unemployed {individuals who} give advice and can’t generate any meaningful results, including profit) continue sharing touchy-feely tips like “{Speak to} your emotions,” IWT readers handily crush platitudes, generating {thousands} of measurable, concrete results.

I employ 2 people whose only job {would be to} catalog our success stories.

email from reader thanking Ramit

email from reader thanking Ramit

Dream Job success stories

To me, {this is exactly what} I’m MOST {pleased with}. Not the cool technology we’ve developed, or the intricate behind-the-scenes systems that scale to {an incredible number of} data points.

It’s results like these:

We’ve moved from just {authoring} personal finance {to all or any} {areas of} living a Rich Life – entrepreneurship, careers, fitness, even relationships.

And {I’ve} {far more} up my sleeve {for you personally}.

Today, I thought I’d celebrate the Rich Lives we’re developing by sharing {a few of the} biggest lessons from IWT.

LESSON #1: Brutal honesty. No nagging.

A friend of mine is brutally honest about being materialistic. She loves bags and shoes – expensive ones. She does online sales, and she made a rule for herself {that every|that all} time she does a monthly webinar, she takes 5% of sales and spends them, guilt-free, on anything she wants.

I love this!

A $2,000 bag? {Obtain it}. A weekend {visit to} Vegas for $4,000? I’ve done it. Flying last-minute to see your old college friends? {I want to} show you {how exactly to} {take action}.

None {folks} {really wants to} live {just like a|such as a} penny pincher. {You don’t} {need to know|wish to know} {steps to make} {your personal} laundry detergent and save $0.32/year? {Who would like to} live {like this}?

Instead of {letting you know} {everything} you CAN’T do, IWT {is approximately} showing you {you skill}. But it {goes} being brutally honest {in what} {you truly} want – and what you’re {ready to} do {to obtain} it.

LESSON #2: Big Wins, not minutiae

It’s {an easy task to} talk about {reducing} on lattes, disabling the oven light {to save lots of} $0.03 over {24 months}, {rather than} ordering appetizers. Great! You’ll save $11,000 in 30 years and hate {on your own|oneself} every day {you will ever have}.

Or…you could {concentrate on} the 5-10 Big Wins in life {and never having to} {be worried about} ordering your morning coffee: Investing early. Negotiating your salary. Starting a side business. {Getting a} Dream Job. Optimizing your credit. {And some} others.

You can {pay attention to} {professionals} who {tell you firmly to} keep a budget and {scale back on} lattes. {The reality}?

  1. They don’t even do this
  2. Why don’t they ever {discuss} Big Wins like earning more? Answer: They don’t {understand how}.

LESSON #3: Psychology first.

We {have a tendency to} believe {we are able to} {take action} all. Especially {in the us}, we use phrases like, “I’m {likely to} buckle down” and “{EASILY} just try harder, {I could} (lose that weight / save that money).”

We truly {think that} if we try harder, if we just learn {yet another} {little bit of} information, we’ll change our behavior.

This is patently wrong. Here’s {an excellent} excerpt from the Culture Code, by Clotaire Rapaille:

“{Years back}, Tufts University invited me to lecture {throughout a} symposium on obesity…

Lecturer after lecturer offered solutions for America’s obesity problem, {which} revolved around education. Americans {will be} thinner {only if} they knew about good nutrition and {the advantages of} exercise, they told us. {Shedding pounds} {the complete} country was possible {via an} aggressive public awareness campaign…

When {it had been} my turn to speak, I couldn’t help {you start with} an observation. “{I believe} {it really is} fascinating that {another} speakers today have suggested that education {may be the} {response to} our country’s obesity problem,” I said. I slowly gestured {round the} room. “If education {may be the} answer, then why hasn’t it helped more of you?”

There were audible gasps in the auditorium when I said this, {a number of|several} snickers, and five times {as much} sneers. Unsurprisingly, Tufts never invited me to lecture again.’”

If you’ve looked {under the} hood, you’ll {observe that} IWT isn’t about money, or entrepreneurship, {as well as} careers. {In reality}, IWT {is approximately} using psychology {to call home} a Rich Life. The psychology, persuasion, and social influence lessons I learned at Stanford, applied {in my own} life, and tested {in my own} business. {This is exactly what} I teach {each day} via {my own} laboratory of IWT.

LESSON #4: Being {the very best} = disproportionate results.

In {an environment of} infinite choice, there’s a flight to quality. {Which means} it’s “free” {to use} {all of the} free ebooks, the $7 online courses, the “guru” webinars…but ultimately, we {begin to} realize we’re wasting our {most effective} resource {of most}: time. I’ve found {the very best} people want {the very best} material. {So when} you’re ready {to discover the best}, price {is really a} mere triviality.

That’s why I spend {huge amount of money} developing my courses, sparing no expense. I spend years {general market trends}, collecting 100,000+ data points, ripping my courses apart and rebuilding them until they’re perfect.

And it’s why I’m not afraid to charge premium {charges for} premium material. {As the} best know {to spotlight} value, not cost.

I love when people write me saying, “Dream Job looks great but WOW that’s {very costly}. {I would} buy it if it cost $50.” {I simply} laugh. I don’t play in the $50 sandbox. Why would I? I’d rather give my material away {free of charge} than attract {individuals who} pay $50.

So I {hand out} 98% of my material free. My goal {would be to} make my free material {much better than} anyone else’s paid stuff. And {I understand} that after I’ve {committed to} you, sometimes {for a long time}, you’ll {spend money on} yourself {once the} time is right.

LESSON #5: Avoid losers.

It’s politically incorrect but true. Avoid losers in {your individual} life and {most importantly}, {prevent them} in your professional life.

That’s why I’m brutally honest about who {I’d like} {on this website} and who I don’t. I openly urge {visitors to} unsubscribe if they’ve read my material but haven’t taken action. If someone has been reading {for just two} 2 years, {plus they} can’t afford {among} my courses, I’m very blunt {using them}. Why? What {are you} doing wrong? {Folks are} crying out to be held accountable, and nobody does it for them.

I learned this in 2006, when I released my first premium mini-course – a laughable $4.95 ebook – {and folks} went apeshit crazy. “RAMIT, YOU JUMPED THE SHARK!!!” they cried. “OH, {WHICH MEANS THIS} IS JUST {I’LL} TEACH MEEEE {WAYS TO GET} RICH, NOT YOU, HUH!?!” These stupid morons were so {centered on} a $4.95 charge {they} missed {the complete} point of {spending money on} value (and nearly drove me insane). It took me {three years} to learn {how exactly to} master my psychology {to be} the best, {dealing with} {the very best}, and charging {to get the best|to find the best}.

That’s why I systematically surround myself with {individuals who} challenge me to be better. My friends. My amazing staff. And it’s why I {setup|create} a program {to create} that same personal network {accessible to you}.

If you’re {the common} of the 5 people you surround yourself with, and they’re keeping you down, {how will you} {be prepared to} succeed?

LESSON #6: Think big. Being {the very best} is never {a major accident}.

If you’re {likely to} look at anyone in your industry, study {the very best}. Being {the very best} is never {a major accident}.

I advise {lots of|plenty of} startups. {More often than not}, {they would like to} know the “{magic pill}” to {increased traffic}, or generating automatic revenue, or building courses that sell for {thousands}. In classic IWT fashion, I {provide them with} what {they would like to} know, but I also {provide them with} what {they want}: I teach them {a few of the} inside techniques we’ve developed in the IWT Lab, but I also {cause them to become} study {the very best} copywriters, marketers, product designers, {along with other} specialists. I {inform them} how many {hundreds of hours} we spend developing our courses, sales material, emails, {a good} simple guest post. Inevitably, their eyes glaze over.

They want {the outcomes} {minus the} work. {Exactly like} {town} complainer wants the 6-pack {minus the} work, {the majority of us|many of us} want {the outcomes} {minus the} work.

They {won’t} succeed.

Worst {of most}, {a number of them|many of them} {arrived at} me with dim goals. “{I simply} {want} enough to cover my expenses!” {may be the} rallying cry {of each} digital nomad.

What a waste. {To call home} {just like a|such as a} subsistence farmer? {So that you can} brag to {friends and family} {your} scammy SEO business covers your $600/month expenses {to call home} on the beach in Thailand, {when you} jealously look at other businesses doing more good ({and much more} revenues)?

Think big. It doesn’t mean {you must} {create a} million bucks, or have a best-selling book, or be on TV next year. {Nonetheless it} does mean surrounding yourself with {the very best}, challenging {you to ultimately} think bigger, and studying {the very best} {to learn} it’s possible {to accomplish} {a lot more than} you {ever truly imagined}.

LESSON #7: Live a Rich Life today.

I love really nice hotels. When I took a 3-week {a vacation to} SE Asia in 2012, my motto was “My villa {can be your} villa” and I invited my friends {to become listed on} me.

To {keep an eye on} {the best} hotels, I save {a listing of} them {to go to} whenever I travel. {A time} ago, I was telling my brother-in-law that I save {the truly} nice ones for later in life. Because, {when i} said, {easily} stayed {inside them} now, where would I {stay static in} the future? {Quite simply|Put simply|Basically}, {how will you} go from driving a Mercedes to a Toyota Corolla?

He {viewed} me. “Dude,” he said, “{when you can} stay there now, {take action}. There’ll {continually be} new hotels. {And you also} never know what’ll happen tomorrow.”

Amazing insight. {We are able to} save {for the} retirement – and {we ought to|we have to}! But {we are able to} also live a Rich Life today. {Which means} {concentrating on} Big Wins and ensuring our money automatically goes where {it requires} to go, so {we are able to} spend guilt-free. {This means} {establishing} systems so {we are able to} travel on a whim (if {you want to}). Or if {you want to} be healthy, {we are able to} afford {balanced diet}, or a {fitness expert}, {or perhaps a} chef! Or {it could} mean starting a scholarship, funding your parents’ retirement, {or just} giving {back again to} {your neighborhood} public library.

We don’t {need to} wait until tomorrow {to call home} a Rich Life.

That’s what I’ve learned in 9 years. And {I’ve} {far more} coming {the right path} {within the next} 9 years.

Until then, it’s a thrill {to create} for the 500,000+ monthly IWT readers who’ve {focused on} a Rich Life.

Join my free email list {to understand} my {tips for} earning more, learning, and finding your Dream Job

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