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Who doesn’t like the cars and property and perks? But earning money is more about self-discovery for me

"The Knack for Getting Money" was a very popular post yesterday. In it, we looked at the success of two people with a real knack for making money - Judd Weiss and 50 Cent. I invited both of them to comment, and Judd kindly wrote this up. Here's Judd:

The Knack for Getting Money is a broad matter that cannot be fully understood from a sound bite, but I can say a few things.

I don’t know what a hangup for making money is. I try to offer something people will willingly pay for, and then they pay for it. What’s to be hungup about?

After years of pushing people (and my employees) to get out there and do more and become greater; perhaps the most significant trait that I’ve noticed, more than intelligence and skills, is that they’re genuinely excited.

It’s helpful to look at abnormal achievers in other fields. Sports always serves as a quick visual example. Why did that basketball player bother to get so good playing a game? Why did a body builder put so much muscle on his body? Why do some men consciously work to sleep with a ridiculous number of women? Why do some guys knock it out of the park with their income?

I Hope I Keep Failing

On Isaac Lewis

[caption id="attachment_123" align="alignleft" width="322" caption="Think you're tough, glowing orange amoeba? Well, you're not. Not yet."][/caption]

It's been an exciting week. In the last 7 days or so I've entered 3 entreprenurial-pitching-competition-type things, and failed at 2.

Failure #1 was entering the Shell LiveWire pitching contest at the NSEC conference. I didn't make it through the first round. Failure #2 was Warwick's Be Your Own Boss contest. I got to the final round, and gave what I thought was a pretty polished pitch. But the competition was really strong (seriously, the standard of student startups has gone way up recently), and lost again. The success was making it onto Entrepreneur First (which is not a business competition, but the application process was similar).

The fact I failed is good. If I was getting a 100% success rate, it would mean I wasn't trying stuff outside my comfort zone. I really mean that - I'm not saying "oh well, taking part is what counts" just to make myself feel better. I want to win, and long-term I want to improve both my business idea and my pitching skills, so I'm going to enter more of these business idea contests*. But, I can accept losing with equanimity. And if and when I start winning, I won't sit around and bask in my success, but aim to begin failing at bigger and harder things.

*(Yes, these contests do have limited value, in that winning them doesn't make you an overnight success. But there is value in the money and publicity on offer.)

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