Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday and every other Thursday.
#8 – May 30, 2022
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How do you improve yourself? The way I look at that question, it has two components. How, and when.
In fact, when you improve yourself is often more important than how. Because if you focus on self-improvement and learning at the wrong time, you might end up wasting a lot of time and energy.
So I always ask myself two questions when I want to improve.
- When do I improve myself?
- How do I improve myself?
The famous investor Charlie Munger said that one of the reasons he keeps learning is because he gives himself the best hour of the day.
I’ve been calling this idea the Munger Technique since I learned about this. Use your best hour of the day to improve your mind.
Your best hour might be after you wake up, or before dinner, and so forth. Improve your mind when you feel most energized and flow comes to you easier.
When you do this every day, that results in mental compounding interest. It will become very hard to fail at anything in life.
It took me many years to build a stable online business. The good thing about spending years to figure things out is that I learned what doesn’t work.
I found that there are roughly 8 sustainable online business ideas.
One of them is to self-publish books.
There are self-published authors who put out multiple books a year. I’ve self-published 7 books. None of the books by themselves will make me rich but combined, they form a stable income stream for me.
And self-publishing also led me to traditional publishing for my next book.
When it comes to building an online business, you want to commit to something that you’re good at, and something that has a future.
You can learn more about that in this article.
One interesting thing
My online course, digitalbusiness.school, has been open for registration this week. Sarah Thomas is a student in one of my courses. She’s a freelance writer and has worked on building an online business on the side.
We recorded a video that I added inside the digitalbusiness.school course. And I asked what has been the most important thing for her business and career. Her answer was short but very true.
Starting her career online lead to other career opportunities.
Too often, we distract ourselves with non-essential things. The biggest mistake we often make is to never get started. When you start, you can always adjust your strategy until you succeed.
If you’re also interested in starting an online business, get started here: digitalbusiness.school
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
Join the 7-day Stay Centered challenge
I’ve created a one-week email course that you can do together with a group. It’s called Stay Centered, and it will help you to reclaim focus and live a meaningful life.
When you’re centered, nothing can hurt you. You will have inner peace no matter what happens.
How to unlock Stay Centered
You can join the challenge for free. Every day, you’ll receive a short email with a small challenge that inspires you to live better.
I highly recommend sharing it with your friends so you can go through the program together. I did it with my team, which was a lot of fun.
Join here: dariusforoux.com/stay-centered