October 31, 2020
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
- Ed Mylett(@EdMylett) is a life strategist, a fitness enthusiast, and author of Max Out Your Life
- Anthony “Pomp” Pompliano (@APompliano) is a Co-founder at Morgan Creek Digital and host of The Pomp Podcast
- Bryce Hall (@BryceHall) is the Co-founder of Ani Energy and a social media personality. Check out his Instagram and YouTube
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
- Don’t spend all your money, stack cash, and capitalize on opportunities.
- 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
- To calculate how long you need to double your money, divide 72 by the interest 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
