Finding Your Path in Life and Business with Erlend Bakke & Matthew Turner

Matthew-Turner

In today’s episode, Erlend and Matthew discuss the deeper meaning of success and how to live a better life as discussed in the book ​”Never Work Again​”​. The book delves into different interesting topics,​ especially in finding one’s true path and defining what success means to Erlend.

Matthew Turner interviewed 163 Highly Successful Entrepreneurs so you can learn from the best & transform your mistakes into success just like the world’s finest business minds do!

Main talking points that you shouldn’t miss:

  • Erlend strongly believes in the power of delegating.  At 2:53, he discusses why it’s good to tap into the talent of people around you.  He also believes in practicing what he preaches. At 3:20, he mentions why he picks up “​Never Work Again”​ and self-monitors.
  • Matthew also mentions the Exponential Mindset, a concept related to having an influence on the people around you at 7:31. So what does one do when having a bad day?  Erlend talks about his way of dealing with those days at 8:26.

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My #1 Book for Entrepreneurs Interviewed on A Guide to the Good Life

williamirvin_hardcoreHappy New Year!

This year I´m doing a life experiment on living stoically and who better to kick the year off than my favorite stoic author!

William B. Irvine is the author of A Guide to the Good Life: The Ancient Guide to Stoic Joy. This is the book that I consider the most important book and starting point for entrepreneurs. It has totally transformed my approach to life and business.

We discuss:

  • How entrepreneurs can achieve tranquility and success
  • The importance of focusing on what we can control, and letting go of everything else
  • The importance of letting go of wealth, fame and popularity
  • How to use negative visualistation to achieve joy and happiness
  • And much, much more!

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My Top 10 Books To Read For Entrepreneurs 2016

erlendbakkeHere are my top 10 books to read that made the biggest impact in my entrepreneur life:

#10 Think and Grow Rich – Napoleon Hill

  • Commissioned by the Andrew Carniege, the world’s richest man because he wanted more people to understand how to create wealth.
  • I learned to focus, focus and focus!
  • My main takeaway is the power of mastermind. I meetup with the same group of people every month over dinner and we talk about challenges and issues and have a blast.

#9 Become a Key Person of Influence by Daniel Priestley

  • He talks about a 5-step process of raising your profile, becoming an expert in your industry so you can charge more and automatically generate leads to your business.
  • The 5-step process is you need a perfect pitch. Pitch for my business is MrOutsource.com helps liberate entrepreneurs by outsourcing to the Philippines.
  • I learn to consistently repeat your pitch to your audience to remember you for you can only remembered for one thing.

#8 Profit First by Mike Michalowicz

  • When you have revenue in a business, you put them in different buckets based on the percentage. The most important bucket as a business owner and entrepreneur is you actually pay yourself profit every year.
  • He recommends that you do not have this bank account in the same bank as your other money. So you never actually see it.
  • Download Profit First app so it can help you calculate what you should be putting into different buckets.

#7 Choose Yourself by James Altucher

  • Now is the best time to start you own business.
  • I learned how it’s important to generate money for yourself.
  • I also learned Important habits like eliminating certain people, be physically active everyday – walking, healthy eating.

#6 The Psychology Influence of Persuasion by Robert B. Caldini

  • I believe this is the only marketing book you need to be successful in your business. This is because he bases his insights on how we humans are an functions as social animals.
  • The importance of understanding the fundamentals of marketing like reciprocity – how businesses offer free samples because when you try it first, you are more likely to buy.

#5 Rich Dad Poor Dad – Robert Kiyosaki

  • I learned about the cash flow quadrant which consists of being an employee, self-employed, business owner, and investor.
  • It’s all about being on the right side of the quadrant – being a business owner and/or investor as that’s where all the wealth is.
  • Good book to read to understand how society really works.

#4 The 4-Hour Work Week – Tim Ferriss

  • My main takeaway is I don’t need millions and millions of dollars to be happy.  You can rent things to experience things that you want.
  • Knowing your freedom number – how much do you actually  have to earn for you to be happy.
  • Work smarter, not harder.

#3 The Effective Executive by Peter Drucker

  • Do first things first, and second things not at all. It’s frustrating to do many things at once. Stay focused.
  • The 4 Hour Work Week is largely based on this book in terms of  how to get things done.
  • This book transformed how I work and how I focus.  It’s made me a happier entrepreneur because now I have won a lot of my time back and I don’t feel like overwhelmed.

#2 The Compound Effect by Darren Hardy

  • How does the compound effect work? It starts with 1,2, 4, 8, 16,  32, 64, etc. So it’s increasing by doubling. Every thing in your life is compounding.
  • Every little decision you make in your life becomes relevant. Choosing to save $100 a week becomes relevant.
  • Start with small daily habits.

#1 A Guide to the Good Life by William Irvine

  • I love it because it based on ancient philosophies such as you cannot change the past; you cannot control the future, etc.
  • Let go of popularity, fame and wealth and to focus on serving mankind.
  • Negative Visualization is another aspect of this book that I really enjoyed.