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Tom Bilyeu's Impact Theory cover image

The #1 Money Lesson School Failed To Teach You [Escape The Rate Race] | Codie Sanchez PT 2

Tom Bilyeu's Impact Theory

NOTE

Money, Sweat Equity, and the Get Rich Tripod

The Get Rich tripod consists of three legs: money, time, and experience. Money is the highest leverage leg, as it's not finite like time. Having money allows one to avoid using their time and prioritize leveraging money. Experience can also be leveraged to access deals without using money or time, based on the knowledge and expertise one possesses. If one lacks both money and experience, they can utilize their time as pure sweat equity. This approach is similar to what venture capitalists do when they provide capital in exchange for the entrepreneur's time and effort. People are hired and given equity in businesses based on their operational skills or experience, and others leverage their own money or external funds to invest in businesses.

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