Hotep Jesus, an entrepreneur, discusses money and entrepreneurship. He shares his journey from being an asshole to becoming wiser and talks about investing in capital goods, real estate, and cryptocurrencies. They also touch on decreasing costs, budgeting, and taking calculated risks. The importance of branding, avoiding distractions, and setting high goals are emphasized. Advice for leveling up as an entrepreneur is provided.
Time freedom is more important than financial freedom and can be achieved by using money to buy time.
Focus on studying and becoming an expert in your interests to attain financial success.
Budgeting should be replaced with focusing on lowering costs and investing in assets that generate cash flow.
Deep dives
The Importance of Time Freedom
Hotep emphasizes the value of time freedom and how it is more important than financial freedom. He believes that money should be used to buy time, allowing individuals to have more freedom in their lives. He shares that he focuses on being able to work from anywhere and prioritize spending time with his family. Hotep advises that people should focus on their interests and study them extensively to become experts in their chosen field, which can lead to financial success.
Understanding Money and Capital Goods
Hotep discusses his perspective on money and its purpose. He explains that money is simply a means of exchange and that the more money one acquires, the more things they can exchange. However, he cautions against hoarding money and emphasizes the importance of investing in capital goods, such as stocks or real estate, to increase wealth and protect against inflation. He also suggests diversifying investments, mentioning the potential of Ethereum as a good investment.
Budgeting and Decreasing Costs
Hotep shares his approach to budgeting, focusing on decreasing costs and increasing profits. He recommends constantly evaluating expenses and considering the return on investment. Additionally, Hotep believes that rather than budgeting, one should aim to lower costs and invest in assets that generate cash flow. He emphasizes the importance of striving for financial freedom while prioritizing time freedom and avoiding unnecessary expenses.
Importance of Branding and ROI
The podcast discusses the importance of branding and how it can have an impact on a business, even if there is no clear return on investment (ROI). The speaker emphasizes that leaving an impression on someone's life and building brand recognition cannot be quantified monetarily. They also express their frustration with startups that prioritize ROI over other branding strategies.
Investing in Real Estate vs. Stocks
The podcast delves into the topic of investing in real estate versus stocks for passive income. The hosts discuss the potential challenges of relying solely on stocks for passive income, highlighting the need for substantial investments to generate a livable income. They suggest that real estate investing offers advantages such as leveraging funds from banks and other sources and the potential for rental income. They encourage calculating the various costs involved, such as the principal, interest, taxes, and maintenance, to ensure positive cash flow.
We bring on Hotep Jesus to discuss money and entrepreneurship. Money creates freedom in 2021. A man that understands how to make money will succeed in crucial areas of life. Hotep will explain how he became successful and the process it takes to build wealth.
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