You're an Imposter
Hello. Tim here.
My son started walking this week. I can't believe I am a dad. What a gift. He's so stinkin cute I can't even handle it.
I hope you had a great week. Let's finish strong.
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1. The Secret to Dealing with Imposter Syndrome Is to Know What You're Aiming At
Do you sometimes feel like a fraud? Like one day someone is going to discover that you have no idea what you're doing?
The feeling of imposter syndrome is universal. We have all been through it.
If you want to be successful, you need to train your brain to focus on what's important. Through focus, you can learn to manage your imposter syndrome.
2. Your Success is NOT Based on Luck
On this week’s episode, Ethan and I talk about several keys to running successful service-based businesses, including mindset exercises that will help you understand your value and raise your prices.
We also discuss Sahil Bloom, and chart his path to 100k email subscribers and 600k Twitter followers.
Click here to listen on iTunes and click here to listen on Spotify.
3. The Reason Why Web3 and Crypto Companies Haven't Succeeded .... Yet
June 16th 2022
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Brandon Arvanaghi makes a simple and profound argument in this tweet. I thought about his position all week.
Can you name a single crypto company that is customer focused? The only one I can think of is VeeFriends, which is probably why it's so successful.
So far, all crypto projects have been focused on "utility." Many are self obsessed and are most interested in telling the world ... "look what we can do."
But no one cares about you, people care about themselves and what you do can for them.
This short Jeff Bezos interview was a great reminder of what the fundamental purpose of business is. Create great products and services that serve customers.
That's all it is. That's all it ever will be. Anything else is a racket or a scheme to generate perceived value. But if you can serve your customer, then you will always be successful.
I have two takeaways from this video.
First, I agree with Brandon's take that the problem with Web3 is that it doesn't care about it's customers.
Second, I started focusing inward in my own businesses and am looking for the areas where can I better serve my customers as well.
That's all that matters.
Here's the link to the video once more.
4. Ethical and Effective Ways to Collect More Email Addresses (Bootstrapper Members Only)
There are tons of unethical ways to collect email addresses.
- You can buy lists from shady companies and spam people
- You can force someone to give you their email to gain access to something then make it super hard to unsubscribe
- Or you can do a bait-and-switch where you automatically sign someone up for your newsletter when they attend a workshop or do a free trial of your product.
These tactics are a plague to internet marketing. Don’t spread it.
You’ll have high churn, low engagement, and wreck your reputation.
Luckily, there’s a better way.
Here are 4 ethical ways to collect email addresses…
P.S. - Subscribers to this newsletter get 30% discount when they subscribe to The Bootstrapper. Click here to take advantage of this special offer.
5. Transfer of Wealth
There are many reasons to account for the incredible concentration of wealth that the Baby Boomers own. Obviously, the older you get, the more you can save.
When I look at this graph, I don't see an unfair allocation of wealth. What I see, is the biggest redistribution of wealth in the history of the world. I see opportunity on the horizon.
When the Baby Boomers start to die off, that will mean that more than 60% of the capital in the United States will trickle it's way back into the economy.
Are you in a position to take advantage of it?
I sure hope so. It's gonna get wild.
6. The Funniest Video in the History of the Internet
My wife and I watched this on repeat for probably 15 minutes, laughing hysterically.
I laughed so hard I got tunnel vision. My ab muscles went into a deep and painful spasm, but I kept watching it over and over again.
Then, I realized that this guy was shaking his hands because he crushed his thumbs and it set off another round of muscle spasm laughter.
You're welcome.
7. Write Better Headlines by Asking Yourself These Three Simple Questions
Writers are communicators, and if you’re proud of your ideas, you’ll definitely want to learn how to write better headlines.
Headlines are your first opportunity to present your marketing story to the audience you want to reach, so you want to be able to communicate your most important points clearly and precisely.
The language you use should appeal to those people and make them want to find out more. That language is very important when writing headlines. These questions will help you get the most of your headlines and get more out of your content marketing.
8. Everything You Need to Know About Building a Great Product
You're overthinking it.
9. ‘Just Stop Buying Lattes’: The Origins of a Millennial Housing Myth
I first learned this lesson from Ramit Sethi years ago, when he explained, through simple math, how irrelevant spending money on small luxuries such as lattes really is.
You could spend your entire life worrying about $4 a day on lattes and make up for the difference in lost value with one investment decision.
In wealth generation, one big win is much more relevant than many small wins.
The "latte myth" is ever present and it has become a marketing tactic for personal finance gurus. Yet, when it comes to asset ownership, especially in the case of millennials, the true origins are much more nuanced.
I highly recommend you read this brilliant article, written by Mark Dent, from this Sunday edition of The Hustle.
10. Final Thought - "What You Put Inside Your Brain"
Last week, I wrote about the tension and slight depression I was feeling.
This week, I made a point to start every day by filling my mind with positive information. Instead of jumping out of bed and getting to work, I've been bringing my coffee upstairs and climbing back into bed for a bit to read a book.
Then, I get out of bed and start the day with a motivational video.
Yes, motivational videos are a gimmicky, but regardless, the positive messaging that goes into my brain first thing in the morning has been helping.
No news. No Twitter. Only positive messaging.
I feel so much better.
This morning, my wife listened to NPR when she was in the shower. She got out of the shower telling me that she was feeling down and depressed about the state of the world.
I'm not telling you to ignore the news or to put on rose colored glasses. Rather, I am highlighting how vulnerable all of us are to falling into the trap of media induced catastrophe.
There is good in this world, lots of it. In fact, there is a strong argument to make that this is the best time ever to be alive and that the future will only bring with it more health, prosperity, and harmony.
The truth is in your perception, so you might as well fill your mind with positivity.
What other choice do you have?
Love you. Talk to you next week.
Tim