Capital Challenge Week 1

Time to Read: ≈ 5-7 minutes

The Capital Challenge:

• I will be tracking my progress to becoming financially free while providing value through teaching the skills and knowledge I learn along my journey

What: This will be a weekly newsletter that will provide tons of value before ever costing money. I will be doing hours of research each week on becoming financially free, business skills and knowledge, mindset, and specifics on what is working for me to make money, invest, and become wealthy.

Why: I am doing this because I have an itch for learning, and learning how to be financially free. I grew up not in a poor family, but with the mindset that I don’t want to turn out how anyone else is around me. Seeing family members slave away at their jobs and not doing what they love sparked something in me. It was like I woke up and realized, I couldn’t let this happen to me too. I don’t want to have money for material things, I want money so I can buy my time. The most valuable thing, even more than money, but the only way to earn valuable time, is by growing your capital to reach financial freedom. I am 19 years old and want to grow a business so that when I have a family I have time to spend with them. I want the freedom to travel the world and have control over my life. I am not the only one who wants this, if you subscribed to this newsletter, you probably want this too. This is why I will do my best to provide value in everything I teach from my findings through my weekly research.

How: This is going to be a difficult task, I do not doubt that. I will make it happen, I am going to keep a regimented plan where I do at least an hour of research every day. At a minimum, I will be spending 7 hours a week researching/ reading/learning skills to become financially free. This will consist of detailed, yet simplified newsletters in which I highlight the important parts, so you don’t have to go looking as long as me.

More: I will be sharing the sources of my teachings so that you may follow along/ have a validated source. My current background I have read a few books on mindset/ finance/ psychology. The titles consist of: Rich Dad Poor Dad, The Psychology of Money, Read People Like a Book & The Psychology of Selling. These books have started my love for my learning journey through the book lens, and have pushed me towards taking action. Apart from my weekly newsletters I will be sharing valuable information from books I have read, and books I am reading. To put it in perspective I am currently reading a book called “ Deep Work” by Cal Newport. This book goes into the value behind Deep Work which is a method of learning in which you isolate yourself from all distractions and focus on your work. It is the root of success in many entrepreneurs and successful people alike. In the book, it highlights the formula:

High-Quality Work Produced = (Time Spent) X (Intensity of Focus)

This formula as simple as it seems, provides deep insight into why we can’t achieve a lot of what we do. From our regular work day to our chores at home, we let distractions pull us from achieving mini goals, which if not accomplished stray us further from being productive. Chapter One explains how using deep work saves time and improves your social life. The author provides countless stories of professors who produce numerous papers per year and are extremely successful compared to professors in the same field. In contrast to what most might believe, the ones that produce the most papers, aren’t working from dawn to dusk. They get home from work and spend no time working, they enjoy it with their families, and do what they love. This is because while distractions such as checking your email at work or looking at your phone every 10 minutes for a couple of seconds seem minuscule, it is holding you back completely. When you learn deep work you immerse yourself in your work, and according to the formula the more time you spend in deep work and the higher intensity ( aka no distractions while working = higher intensity of work ) the higher quality of work that is produced.

In conclusion, deep work is essential for becoming successful as distractions are everywhere, and if you can never focus on a skill or learn something hard, you can never become successful. You should want to maximize your output of the formula and increase your total High-Quality Work Produced from what it currently is. If you can learn to analyze where your high-quality work is at now, you can learn to measure your output. When you can measure your output you can improve because you know what to do more and less of. Set small goals that are achievable in a short amount of time, yes it is important to have a vision and set massive goals, but you won’t reach it if you don’t set mini goals, take mini wins, and measure your success.

Links to the books mentioned above:

Rich Dad Poor Dad: https://a.co/d/gy58i8F

The Psychology of Money: https://a.co/d/19FYXWa

How to Read People Like a Book: https://a.co/d/3w4w7O3

The Psychology of Selling: https://a.co/d/289toKX

Deep Work: https://a.co/d/fWGWNxv