Bryce and Pomp with Ed Mylett on Capital University Podcast

Ed Mylett Talks to Bryce About Creating Long Term Success | Capital University

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Key Takeaways

  • Understand and embrace what drives you and what you fear
  • When you stop changing and start repeating yourself, you die in life
  • “You are gonna have an average ordinary life if you think like everyone else” – Ed Mylett
  • “Self-confidence really is built by keeping the promises you make to yourself, that’s how you become confident, you keep promises you made to you” – Ed Mylett
  • Get in shape, stay humble, stack cash and capitalize on opportunities
    • The younger you start, the more the benefits compound

Intro

The Transition from Building to Investing

  • When you build something, you understand it inside out
  • Leaders create the organizational culture; investors bet on it
    • Thus, find leaders who are similar to you and who believe in what their thing does

On Being a Motivational Speaker

  • “I am more afraid of being broke than I am excited to be rich” – Ed Mylett
  • Accepting yourself is key to being successful
    • Understand and embrace what drives you and what you fear
  • You change every year. But, at some point, people stop changing and start repeating themselves
    • If you are not careful, the 30-year-old will think like the 20-year-old.  That’s when you die in life
  • Focus on personal growth, the money and recognition will come

Think and Work Different

  • “You are gonna have an average ordinary life if you think like everyone else” – Ed Mylett
    • The hardest thing as a young person is to recognize that fact and work to be different
  • Get in shape, your body is under your control and is a catalyst to changing your life and attitude
    • Unlike controlling whether someone will buy your product or watch your video
  • “Self-confidence really is built by keeping the promises you make to yourself, that’s how you become confident, you keep promises you made to you” – Ed Mylett
    • When you do what other people aren’t willing to do, your convince your mind that you deserve things other people don’t deserve
  • Something may seem easy on the outside, it’s a different story when you do it every day for years, endurance is important.
    • For instance, when creating content or building businesses

Stack Cash and Compound Benefits

  • Biggest mistake: “I bought stuff to impress people who didn’t care” – Ed Mylett
    • Don’t spend all your money, stack cash, and capitalize on opportunities.
      • Buy things that appreciate, the younger you are the better
  • Use the Rule of 72 to understand the effect of compound interest
    • To calculate how long you need to double your money, divide 72 by the interest rate
      • For instance, it takes 12 years to double your money at a 6% rate

Stay Humble

  • More things come your way if you keep your humility
  • Life is not short, so stay disciplined
    • The decisions you make in your 20s will shape your life
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Notes By Mostafa Khaled

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