Another Excuse Newsletter

Welcome back to the Another Excuse Newsletter. It isn’t just another excuse, but a reason to start that thing you’ve been putting off.

What to expect this week:
👓Perspective - Global Millionaire Migration
🔨 Tool - Tiller
🍿Consume - Imposter syndrome
📖Concept - Perceived Value

Latest Podcast Episode

Today’s guest is Tarina Meiring. A behavioural linguist and co-founder of I/RISE, a science-based communications training consultancy in Amsterdam. I learnt a lot from the many topics we covered in this episode.

In this episode, we discuss:

• Founding Businesses
• Taking opportunities
• Reframing fear
• Overthinking and levelling up
• Foundational beliefs and interrupting thoughts
• Discipline and Habits

You can check out the episode here.

👓Perspective

Global Millionaire Migration

Millionaires talk with their wallets.

It’s tough for governments to keep all of their citizens happy, but millionaires bring a lot of benefits.

They can invest, create jobs and pay more taxes. But as soon as the policy doesn’t go their way, they also have the freedom to move to another country and even buy citizenship.

So the above map helps show where the millionaires are leaving and where they’re moving to.

Russian millionaires leaving is obvious, with all the sanctions being imposed on them.

The obvious one is the influx of millionaires moving to the UAE. They have very attractive taxation and incentives to start businesses.

A few surprises on the leaving side are India, Saudi Arabia and the UK.

A few surprises of countries gaining millionaires are Australia, Israel and Greece.

I’ll have to look a bit more into the reasons for these movements, but as they say, follow the money.

If you’d like to read more about it, you can do so here.

🔨Tool

Tiller

I’ve tried a few approaches to monitoring my monthly spending.

It’s so useful to keep track of everything. It helps you understand where your money is going and helps you decide on what to prioritize.

The system I like most is a simple Google/Excel sheet.

The only problem with this approach is manually inputting all of your spending. I’d forget to do it for a week or two and then have way too many transactions to input at one time.

This got frustrating and added to the struggle of staying consistent.

Tiller solves this problem.

It plugs into your spreadsheets and has budget templates you can use if you aren’t using one yet.

It will automatically update your spreadsheets with all of your transactions, so you don’t need to input anything.

You get all the benefits of spending data and charts to see where your money is going without the admin.

A pretty simple solution to a problem that prevents many people from getting started.

They have a free 30-day trial and then it’s $79 a year. Not bad

Another tip, Google has a free spending template. Just go to sheets, click file, new and choose from the templates. You’ll find the spending one there with everything you need.

Hope that helps.

🍿Consume (Read / Watch / Listen)

Imposter syndrome

Justin Welsh is a very successful Solopreneur, making $1 Mil a year with no employees.

In a recent newsletter, he touched on Imposter Syndrome and how to overcome it through evidence.

Here are the main points from the newsletter:

• You’re Probably More Talented Than You Think

  If you were to look at your achievements objectively, as if someone else had achieved them, would you still downplay them as much as you do?

• The Curse of Knowledge Blindness

  When you’ve known something for ages, you assume everyone else knows it too. You forget that your knowledge is valuable.

• The Stuff You Don’t Know? They Don’t Either.

  Focus on approaching the stuff you don’t know in a thought-out way. Figure things out.

• Ponder Your Accomplishments

  Be good to yourself and be proud of what you’ve achieved.

• The Snowball Effect

  Belief and confidence snowballs.

You can read the full newsletter here.

📖Concept

Perceived Value

Value and high prices tend to go together, but that’s not always the case.

You can show value by giving things away for free, too.

How does this work?

If we encounter a product for the first time, its price is going to signal to us how valuable or luxurious this product is. Irrelevant of the quality.

On the flip side, if we’re familiar with a brand or person and they give away a lot of their knowledge or products for free and they’re of high quality. We’re going to assume that whatever they charge for will be insanely valuable.

Does that make sense?

So it becomes a balance of getting the most perceived value out of your product or brand. By combining giving free information or products that are great and charging high prices that people actually pay for.

Many people disregard the free side of things and don’t see how it can bring value.

But in this current creator economy, each one of them has products that their loyal fan bases will pay anything for. All because of the free content and useful information they’ve provided them over the years.

It’s not all about charging as much as you can.

Signal you know what you’re talking about.

Thanks for Reading

Now start something!

P.S. Feedback is welcome and needed! If you’d prefer to send me an email and not respond, you can do so here: [email protected]

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