#74

Hans Chan -

What I’m Watching

YouTuber Ali Adbaal recently went on the Colin and Samir show (which is THE creator YouTuber channel), and shares nuggets of wisdom about being a creator in the current market. I don't know another creator who is as transparent as Ali, worth a watch!

Resource of the week

I haven’t left the country for years but was talking to my brother and sister about the best cards for spending money abroad. This one is courtesy of MoneySavingExpert, the Chase debit card not only has a 1% cashback but it’s fee-free, gives you fee-free spending abroad, up to £1,500 ATM withdrawals, and a chargeback feature for things you purchase abroad. My brother ordered one immediately and I plan to follow suit.

Quote

"The fight is won or lost far away from the witnesses, behind the lines, in the gym and out there on the road, long before I dance under those lights."

Muhammad Ali

Thoughts

I was watching Ali's interview and he makes an interesting point that's quite thought-provoking. He's already making £5 million a year from his YouTube channel and related businesses, but he says that the reason that he's not making £10 million is simply because he doesn't know how and his job is to bridge that knowledge gap to continue his growth.

This got me thinking as growing up, the narrative was always working hard and you will be rewarded. But reality has proven time and again that's not the case. There are few professions that have to go through as much of a rigorous and lengthy training programme as doctors (or work as long hours) but they get stiffed on pay in this country. I've personally watched my parents, immigrants from Hong Kong and friends in their generation work their whole lives and struggle for a lot of it.

On the contrary, a lot of very high net-worth people as Ali alludes to, don't particularly work harder than many average-income earners. But they have the knowledge and leverage. To work smart.

So the key really is to gain knowledge. How do we go about doing this? Personally, I tend to ignore what people say to do because it's a lot of virtue signalling anyway, but what they are actually doing. It's the drive for starting my TikTok, but it doesn't have to be on social media, it could be people in your extended circle, businesses you see that might overlap with some sort of unfair advantage you have. Then it's just a case of taking massive action. Trying different things. Being persistent.

We learn by doing, a lot of people who start a successful business have no idea what they were doing at the start, but a lot of perseverance.  

We live in the information era nowadays you can find out the answer to almost anything in minutes if you want. In 10 years don't let the reason for not achieving the lifestyle you want be 'I could have done that but I didn't do it because I didn't know how to'.

Hans