by Jordan Kastler, Inc. Magazine, 7/28/17.
…with the number of tools available today, the goal of becoming a profitable entrepreneur is more achievable than it was ten years ago. Today, it’s easier to connect with people, find mentors who have years of experience related to where you want to go, and read books to accelerate your growth.
I recently caught up with Tai Lopez to pick his brain… An investor, partner, and advisor to over 20 multi-million dollar businesses sums up his occupation…
He attributes his success majorly to mentors he’s had and books he’s read. Here are some excerpts from my chat with him:
Kasteler: Could you share your story of starting out as an entrepreneur?
Lopez: I really started at around age 19 when I partnered with my first mentor Joel Salatin. I was working for him on his farm, and a neighbor farm came up available for rent but Joel said he was too busy to do it.
So I said, “What if I take over the farm, you put the money in to start it, and I will split the profits with you?” He said, “Well, as long as you do all the work.”
I worked on that farm every night when I was done at Joel’s farm, I’d drive an hour and work late into the night on that other farm. My profit after one year was $12,000 after I split and paid back Joel. It felt as a lot of money at the time because I’d never seen that much money–it was a great start. One of the things I learned is that when you’re first starting out, it’s great if you can partner up with somebody who is more stable…
What lead you to reading a book a day?
I already started with that concept back when I was 19. Joel Salatin had a mentor named Allan Nation who was visiting from Mississippi and one day he came down to eat breakfast with us and he started talking with all these interesting stories and anecdotes and facts right off the tip of his tongue.
I was like, “How do you know so much about this subject? I do not even remember it.” Allan said, “Oh, I read a book this morning before breakfast.” This was on a farm, so we were eating breakfast at 7:30 in the morning. And I said, “What do you mean, you read a book this morning?”
He said, “Yeah, every morning before I eat, I read a book.” I asked him how long it takes him and he was like, about an hour. He just sat there and would read a book, had developed a great memory, and that was always a set impression on me. I didn’t always read a book a day, but I went in phases–I’d always have that as my goal and landmark of what was possible.
…put a book and a chair in a little room even if you want to read for five minutes a day…
It doesn’t really matter how long you do it. People make the mistake of reading a lot and burn out. They’re like, “I cannot do that, I do not have the time.”
Well, read a little bit and then build up to it…