All right, so let's dive into something I know we've all thought about at some point,
how to get rich and make it even more interesting how to do it by the time you hit your late
20s.
You sent over this YouTube video by entrepreneur Joshua Mayo.
And his approach is, well, let's just say it's not your typical financial advice.
That's an understatement.
He basically throws the traditional start investing early wisdom right out the window.
I know, right?
It's almost shocking to hear an entrepreneur say, forget stocks, forget real estate.
Yeah.
So what we're going to do on this deep dive is unpack Mayo's argument and really see
if his path to wealth makes sense, especially for someone just starting out.
And it's important to remember that the traditional advice about investing early IS still considered
the cornerstone of a solid financial plan.
For most people, what Mayo's proposing is definitely a different beast, higher risk
for sure, but potentially higher reward as well.
Okay.
So here, Mayo isn't sitting on a mountain of index funds or rental properties.
This guy's been hustling since college.
We're talking starting a clothing brand, building websites, even trying his hand at
day trading.
Wow.
And here's the kicker.
He didn't become a millionaire overnight.
In fact, he's very open about the fact that he failed a lot.
Oh, really?
But each failure, each setback taught him something valuable.
It's that adaptability and resilience that he credits for a lot of his later success.
So here's the foundation of Mayo's argument.
He says, true wealth doesn't come from money itself.
It comes from the value you provide.
And to provide real lasting value, you need skills.
Think about it in terms of your own career.
What are the skills that make someone truly indispensable in your field?
That's a great question to consider.
And in today's world where things are changing so rapidly, it's not just about specialized
knowledge in one area.
It's about those transferable skills, things like critical thinking, being able to communicate
your ideas effectively and being a creative problem solver.
Those are the skills that can make you adaptable to whatever the job market throws at you.
And Mayo takes this idea of skills even further.
He uses this analogy of skills being like muscles.
To get stronger, you have to actively use them and push them to their limits.
He even divides skills into two categories.
Minor skills, which are the everyday things we all do.
And then what he calls major skills.
And it's those major skills that he believes are the key to unlocking wealth.
Think of it this way, tying your shoes.
That's a minor skill.
Useful, sure.
But not going to make you a fortune.
Now imagine being able to close a million dollar deal through persuasive communication.
That's a major skill with major earning potential.
And Mayo's own success on YouTube is a perfect example of this.
Yes, he has great visuals and editing, but it's his ability to connect with his audience
to clearly explain complex topics and to persuade people to take action that really sets him
apart.
He's basically turned communication, which is a skill that translates to any field into
a thriving online business.
It's living proof that his philosophy can actually work.
But it's also important to know that he's operating in a very specific space.
One that's heavily reliant on individual branding and audience building.
So Mayo's big call to action is this stop waiting for the perfect moment or the perfect
investment strategy, figure out what your major skills are and start developing them.
Now it's about taking control of your own potential and building a foundation for future
success.
Get the bold message and one that requires a certain mindset.
He's not advocating for recklessness, but for calculated risk taking and a focus on building
your earning potential.
It's a philosophy that goes against the grain, but it definitely makes you think.
So I want you to think about this as we go deeper into Mayo's ideas.
What are your major skills?
What are the things you're already good at that you could turn into something truly valuable
and how can you start actively strengthening those skills today?
That's a great question to ponder.
I think we'll dive more into that in the next part.
Yeah, for sure.
This is a lot to consider.
Welcome back.
I'm really intrigued by this idea of identifying and developing your major skills as a path
to wealth.
It's a fresh perspective, that's for sure.
It definitely challenges the way we normally think about money and success.
But okay, let's say our listeners on board with this idea.
How do you actually go about figuring out what those major skills are?
It's easy to fall into the trap of thinking, well, I'm good at this right now, so I should
just keep doing that.
Right, but that might not be the most lucrative path you have to think bigger.
More strategically, instead of just looking at your current abilities, think about the
value you can create.
What problems are people out there struggling with?
Problems they'd be willing to pay to have solved?
What skills are in high demand, even if they're not skills you currently possess?
Okay, so let's imagine our listener has done that they've pinpointed some of these high-value
skills.
What's the next step?
How do you go from novice to expert?
Is there some secret shortcut?
I wish there was a magic formula.
But unfortunately, no building valuable skills takes time, effort, and a willingness to get
out of your comfort zone.
But there are proven strategies that can make the process more efficient and effective.
One of them is called deliberate practice.
It's about focusing on specific areas you need to improve and working on them with intention
and a structured plan.
So it's like having a workout routine for your brain.
You wouldn't just walk into a gym and start randomly lifting weights.
Yeah.
You'd have a plan, right?
Exactly.
Targeting specific muscle groups gradually increasing the weight, tracking your progress.
And deliberate practice is the same approach, but for your skills, let's say you want to
improve your public speaking, something.
Mayo obviously considers a major skill.
Deliberate practice would involve breaking down that skill into smaller components.
Maybe you need to work on your body language, your vocal projection, your ability to craft
a compelling narrative.
Then you create targeted exercises and practice those specific elements with focus and feedback.
You might join a Toastmasters group, take a public speaking course, or even just record
yourself and analyze your performance.
So it's not just about mindlessly repeating something over and over again.
It's about being intentional and analytical about your practice.
You're essentially becoming your own coach.
Precisely.
But there's another crucial element that Mayo emphasizes.
Taking action.
He's a big believer in just doing it, even if you don't feel 100% ready.
He uses this great analogy of working out your sales muscles or your communication muscles.
The best way to learn and improve is by actually applying those skills in real world situations.
He uses that gym analogy again, right?
You can read all the books and watch all the videos you want about weightlifting.
Right.
You're not going to build any muscle until you actually pick up those weights and start
lifting.
Exactly.
And that's where the idea of failing forward comes in.
You have to be willing to make mistakes, to stumble and fall, and to use those experiences
as fuel for growth.
Each attempt, even if it's not perfect, gets you closer to mastery.
So it's not about being perfect right out of the gate.
It's about being persistent.
It's about showing up consistently and putting the work, even when it's challenging or uncomfortable.
It reminds me of something a mentor once told me.
The only way to fail is to quit.
I love it.
And that's really the heart of Mayo's message.
Success isn't about luck or some innate talent.
It's about having that grit, that hustle, and a commitment to constantly pushing yourself
to get better.
So thinking about our listener, what's one small action step they can take today, something
they can do right now, to start developing a major skill that aligns with their goals?
Maybe it's signing up for an online course, attending a networking event, or reaching
out to someone they admire for advice.
The key is to take that first step, no matter how small it might seem.
That's a great challenge for them, because even the most ambitious journeys begin with
a single step.
Yeah.
And remember that not everyone is wired to be an entrepreneur.
And that's okay.
Yeah.
Mayo's principles can be applied to any career path, not just starting your own business.
Right.
So even if you're not planning on launching the next big startup, how can you apply this
idea of building high value skills within your current job?
Well, you can start by looking for opportunities to expand your skill set within your current
role.
Maybe there's a project you can volunteer for that will stretch you and force you to
learn something new, or perhaps your company offers mentorship programs that can help you
build leadership skills.
It's about being proactive and seeking out those growth opportunities.
It's about taking ownership of your career path and not just waiting for someone to
hand you the perfect opportunity sometimes you have to create those opportunities yourself.
And even small steps taken consistently over time can lead to significant changes.
Maybe you start by dedicating 30 minutes a day to reading industry publications or listening
to podcasts relevant to your field, maybe join a professional organization or connect
with people on LinkedIn who have the skills you want to develop.
It's about building momentum and making consistent progress.
So I think a key takeaway here is that no matter where you are in your career, whether
you're just starting out or you've been in the game for a while, this idea of investing
in yourself, of actively developing your skills is something you can start doing today.
It's about building a foundation for long-term success regardless of what the future holds.
Absolutely.
And that brings us to a critical question that we need to address.
What are the potential downsides of Mayo's approach?
Because let's be real.
No strategy is perfect.
There are always risks involved, especially when you're talking about something as unconventional
as this.
Right.
And it would be irresponsible of us to just gloss over those potential pitfalls.
So in the final part of our deep dive, we're going to get real about the risks and challenges
that come with embracing Mayo's philosophy.
We'll talk about what to watch out for and how to navigate those potential obstacles
effectively.
Okay, we're back.
And ready to wrap up our deep dive into Joshua Mayo's approach to wealth building.
You know, it's been really interesting to explore his perspective.
Yeah, we've covered a lot of ground.
His unconventional journey, his focus on skills over early investing, and that whole concept
of developing what he calls major skills.
And we've seen how his own YouTube success serves as a real-world example of his philosophy
and action.
Right.
Exactly.
But as with any advice, it's crucial to look at better ways.
Both sides of the coin.
There's no such thing as a foolproof strategy.
And Mayo's approach is no exception.
Agreed.
So let's get real about the potential downsides.
What are the risks or challenges our listeners should be aware of if they're considering
going all in on this?
The biggest one is that Mayo's path is inherently entrepreneurial.
That means it comes with a high level of risk, but also the potential for high rewards.
Yeah.
It's not the stability of a traditional nine to five job with a predictable paycheck.
You're essentially betting on yourself on your ability to acquire and leverage those
major skills to create your own income.
So this definitely isn't for someone who's risk averse or who thrives in a structured
environment.
Yeah.
I would say that's a good point.
And even with the best skills in the world, there's no guarantee of success, right?
I mean, you could be the most amazing salesperson, but if you're selling a product, nobody wants.
You're not going to get very far.
That's a great point.
Market forces matter.
And I think that's an area where Mayo's advice could be more nuanced.
You need a good understanding of the market you're in, what people truly value, and what
problems they're willing to pay to solve skills alone aren't enough.
If you're in the wrong field or if you're not meeting a real need.
Okay.
So we've got market risk to consider.
What else should our listener be wary of?
Burnout is a huge one.
Mayo talks a lot about hustle, about constantly pushing yourself and working hard.
And while that drive and motivation are essential, it can also lead to exhaustion and overwhelm,
if you're not careful.
It's like that gym analogy gone wrong.
You can't just keep lifting heavier and heavier weights without giving your body time to rest
and recover.
Absolutely.
You'll end up injured and unable to train at all.
Building a career, developing your skills.
It's a marathon, not a sprint.
You need sustainable practices, routines that support your well-being and prevent burnout.
And there's something else that struck me as I was watching Mayo's video.
He has this very individualistic focus, which makes sense given that he's built his success
largely on his own.
But what about the importance of teamwork and collaboration?
That's a really insightful observation in many fields.
Success is not just about individual brilliance.
It's about being able to work effectively with others to leverage collective intelligence
and diverse perspectives, building relationships, networking, collaborating.
Those are major skills in their own right.
And for some people, those might be their most valuable assets.
So while Mayo's emphasis on individual skill development is powerful, it's important to
remember that it's not the only path to success.
And it's also worth noting that not everyone is comfortable with that level of self-promotion
and the constant need to be on that often comes with an entrepreneurial lifestyle, particularly
in the online world.
Yeah.
So we've laid out some of the potential downsides, but even with those caveats, yeah.
There's something about Mayo's message that resonates.
It's that sense of empowerment that you're not stuck wherever you are, that you have
the power to learn and grow and create something valuable.
Absolutely.
That emphasis on self-reliance, on taking ownership of your future, that's something
we can all benefit from regardless of our career path.
So let's say our listener is in a job they're not passionate about.
Okay.
But they're not ready to quit and go solo just yet.
How can they start applying some of Mayo's principles within that context?
They can look for opportunities to develop those major skills even within their current
role.
Maybe there's a project they can volunteer for that will stretch them or force them to
learn something new or perhaps their company offers mentorship programs that can help them
build leadership skills.
It's about being proactive and seeking out growth opportunities even if they're not
immediately obvious.
It's about having that growth mindset that we talked about earlier.
It's about constantly seeking out challenges, learning from your mistakes, and never settling
for the status quo.
And sometimes those seemingly small steps taken consistently over time can lead to significant
changes.
Maybe you start by dedicating just 30 minutes a day to reading industry publications or
listening to podcasts relevant to your field, or maybe you join a professional organization
or start connecting with people on LinkedIn who have the skills you admire.
It's about building momentum and making consistent progress towards your goals.
So as we wrap up this deep dive, here's the final thought I want to leave our listener
with.
Josh Omeo's YouTube-fueled, high-hustle lifestyle isn't your cup of tea.
His core message is worth pondering.
What are the skills that will make you truly valuable no matter what the future holds,
and what's one thing you can do today to start honing those skills?
It might be as simple as sending an email, signing up for a class, or even just having
a conversation with someone who inspires you.
The key is to take that first step.
It's been a fascinating deep dive.
I always find it so valuable to explore these unconventional ideas and to challenge our assumptions
about success.
And who knows?
Maybe this conversation has sparked some new ideas for our listener ideas that could
lead them down a path they never even considered before.
That's what the deep dive is all about.
Thanks for joining us.