Three big mistakes I’ve made ... and why I’m OK with them

One of my rules for living a Rich Life is that it’s OK to make mistakes. To view this email as a web page, [click here]() It’s OK to make mistakes One of my [rules for living a Rich Life]() is that it’s OK to make mistakes. The path to a Rich Life isn't perfect. You'll make money mistakes, relationship mistakes, business and career mistakes — you may even change what a Rich Life looks like for you. And that's totally fine. Make your mistakes early when the stakes are lower and you can learn from them. I made mistakes by investing in individual stocks early on. In my business, I’ve hired the wrong people. I haven’t managed properly. I’ve made bad strategic choices. All normal! Make them frequently and early so they're not crippling later on. I even have a “failures” folder set up in my email account. If I’m not sending 5–7 failures there a month, I know that I’m not trying enough. And if I’m not trying enough, I’m not learning enough. Let me give you a few examples. I signed a $100,000 contract for IWT software that we didn’t need. We didn’t even use it once. Horrible. It was a costly mistake. I don’t want to do it again. But in the grand scheme of things, it’s just money. And I know how to make more of it. In the long run, I’d rather make a couple of mistakes and get a lot of things right than be so rigid that I never try anything new at all. Another mistake: I generally don’t believe in discounting products. Why? Discounts are a lazy way to convert customers to buy — you can almost always get sales from people when you discount your products. What most marketers don’t realize is that those discount customers hardly ever convert to full-price buyers. And they generate a disproportionate number of refund requests. It’s not worth the hassle. But we decided to try it. And it failed. Spectacularly. In the end, we stopped promoting the discount before it expired. We made $42k, but when you factor in all the time we spent brainstorming, copywriting, designing, and testing, it was a loss. A final example: I typically spend well over $50k/year on courses, conferences, books, and meeting interesting people. But looking back on my life, one of my biggest regrets is not investing in myself even more — and I’ve already been investing 100x more than most people! This is because of compounding. Most people know about compound interest — and why it’s important to start investing early. The same is true for other parts of life. Investing in yourself, your body of work, your social network, your social skills, and more. By investing over time and letting it compound, you gain the money, skills, and freedom to live your Rich Life. The best time to start was years ago, but the second best time is right now. Why am I OK with mistakes? Here’s what I say in [my book](): “You’ll probably make a mistake here or there … but you’ll grow at each step of the way. I choose to move forward” (p. 11). Get clear on your vision of a Rich Life Yes, it’s OK to make mistakes. But you also need to have a clear vision of your Rich Life so that you can start living intentionally — and know when you’re making mistakes. You can only correct mistakes when you know that you’re making them — and why they’re mistakes. That’s why I encourage you to take my How to Design Your Rich Life mini-course if you haven’t yet. [How to design your Rich Life] This fast, fun, and free program is designed to help you expand and enhance your own Rich Life vision. It should take you less than an hour. When you're done, you'll have a crisp, compelling vision of the life you want to live. You. Not your parents' vision. Not your friends' visions. Not even mine. Your Rich Life vision. In this program, you'll learn: - What a “Rich Life” is (and why it's much more than the toothless daydreaming that most people waste their time with) - How to create your own Rich Life Map - How to pinpoint what makes you happiest — and “dial that up” in your life And I've included plenty of “How to” videos and fun exercises to help you along the way. Are you ready to start building your Rich Life? [Take the free Rich Life mini-course]() [Signature] WHAT TO DO NEXT REPLY: What’s a mistake you’ve made in your own life? How did you recover from it? If you haven’t recovered, what are some lessons you’ve learned? Reply and let me know — I read every email. [SIGN UP]() DESIGN YOUR RICH LIFE: If you haven’t already, I encourage you to take my [How to Design Your Rich Life mini-course](). [SIGN UP]() How did you feel about today’s email? [insta]() [Twitter]() [twitter]() [youtube]() [Linkedin]() [podcast]() This email was sent to {EMAIL}. If you no longer wish to receive these emails you may [unsubscribe]( at any time. 548 Market St #89946 San Francisco, CA 94104-5401