Fisherman Story
OR…
What they’ll never teach you at business school…
(it’s a really good story – see how Dan Lok interpreted it). He usually gives very good advice – one more in this video.
Back to Fisherman story.
Read on …
Do you know the story of the fisherman and businessman?
You probably do…
Maybe you heard it from one of your friends or colleagues.
Maybe you heard back in school or at a workshop. Or maybe you stumbled across it online.
Wherever you found it – it’s a really popular story. And it has a really good lesson.
But there’s a problem with the way most people tell it…
And after reading it, most people just ask the wrong damn question.
It’s what keeps them broke.
Today I’m going to share with you the true lesson of “The Fisherman And The Businessman”.
But first, here’s the story…
Fisherman Story
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A businessman on vacation was walking along the beach one morning when he came across a fisherman beside a boat.
“Good morning! Going fishing?”
The fisherman laughed and pointed to the fish in his boat. “I’m already back from fishing!”
“Oh! Hmm, how long did it take you to catch those fish?”
“Uhh… only a couple of hours. Why?”
“Just curious… so … why don’t you stay out longer and catch some more?”
“Oh, it’s already enough for me and my family. I don’t need anymore!”
“I see, okay so what do you do for the rest of the day?”
“Well, usually I go home and have lunch with my wife. Then I go take a nice afternoon nap. And then in the evening, I go into town and have drinks with my friends.”
That’s when the businessman had a fantastic idea.
“Wow! Okay, I’ve got some great advice for you.
Why don’t you fish for longer every day and sell the extra fish for profit? That way, you can use the profits to buy yourself a bigger boat!”
“Uhh, why would I want a bigger boat?”
“To catch even more fish! And then if you sell those extra fish for a profit, you can grow your business! And buy enough boats to create a fleet!”
“A fleet??”
“Yep! And with all the new profits fro your fleet, you can build a fishing company! And you can grow until you’re an international operation!”
“Build a fishing company? Go international? Why!?”
“Well, that’s the best part! When you become that big … you can take your company public, sell your stock, and become an instant millionaire!”
The fisherman paused to think…
“An instant millionaire? How long would all this take?”
“Not too long I guess. Maybe 15 years. Maybe 20 years.”
“Okay… hmm … but I still don’t get it. What’s the point of doing all that?”
“Because as a millionaire, you can retire and do whatever the heck you want! You can relax, spend time with your wife, nap whenever you want, and even hang out with your friends in the evening!”
The fisherman scratched his chin.
“Well, isn’t that exactly what I’m doing now?”
“uhh……”
Now you can read how Dan Lok analyzes this story.
Read on…
You see , many entrepreneurs become entrepreneurs because of the ‘freedom’ generally associated with it.
…getting to wake up whenever you want.
…getting to spend as much time as you want with your family.
…and getting to take the time off to do whatever you want.
But along the way to that dream life, most get stuck on a hamster wheel. And the dream life they were so desperate to have just seems to move farther and farther away.
What do I mean? Well, let me show you what no one talks about.
Let’s say you have a 1M-dollar/year company.
It could be a restaurant, it could be an eCommerce store…
Whatever it is…
Let’s be conservative and say the after all the costs it takes to run your 1M revenue company, you have 25% in profits.
So 250,000-dollars in profits
Following so far? Good.
Now, some people might think:
“Okay great, that’s not too bad.”
But you haven’t invested back into the company yet. So now let’s say you reinvest half of it back into your company.
Leaving you with only 125,000 dollars…
It’s not that much – is it?
It’s actually just a little over 10K a month.
And that’s BEFORE tax.
Not so glamorous and incredible like the media makes out that running a million-dollar company is, right?
Also, that’s not even 10K passively…
While you’re scaling and finding the right people – it’s HARD hard work.
When I started my company, I was working for 12-14 hours a day every single damn day. And I did that for 5 years…
I’m NOT saying building a business is bad.
I’m just saying it’s not as simple and glamorous as people are telling you.
So what should you do to work towards your ideal life?
I recommend you take a lesson from the fisherman.
What The Fisherman Can Teach You About True Success
The fisherman had a good skill to provide for his family…
He could’ve used it to make more if he wanted to.
But he also had the freedom to create the lifestyle he wanted to.
And that’s what I recommend you do too.
Instead of pouring years into building companies, why not focus first on a skill that can give you control over your time and life?
A skill that can provide for you everything you need in just a few hours every morning…
— Without the typical overheads of a business.
— Without all the pressure to look after employees and beat the competition.
— And without all the late nights that most entrepreneurs have to experience.
Now, it’s not going to be as easy as fishing!
This is not some magic bullet bs.
It’s not some easy snap your fingers and 100-dollar notes will come flying out of your phone or computer thing.
And just like building a business – this isn’t for lazy people that would rather party and play video games all day.
But unlike a business, once you’ve got a skill that puts bucks in your pocket fast, no one can take that away from you…
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