The 7 Habits of Highly Successful Capitalists #FreedomFastLane

I have narrowed this into seven character traits. Seven things that a free person does, what I would call a real capitalist does. A person who is committed to their own results and creating something. A person who is committed to freedom, A person who is committed to maximizing their life. A growth minded person has these seven character traits. Build a business, invest the profits. Hey guys, I'm Ryan Daniel Moran and this is Freedom Fastlane.

What's up fastlaners? Ryan here. Welcome to the show. Today I'm going to share with you the seven principles of freedom. This matters because at the end of the day, freedom is controlled by people. You are a person. And this journey we're on, this life that we're on, this pursuit of freedom that we are on, is all about who we become and what we do. And the type of person that you become determines the results that you create, determines what you build. It determines what you enjoy. And I have narrowed this into seven character traits. Seven things that a free person does that what I would call a real capitalist does. A person who is committed to their own results and creating something, A person who is committed to freedom, A person who is committed to maximizing their life. A growth minded person has these seven character traits. And I'm just going to jump right in. The first one is that you take responsibility. I alluded to this in our previous episode, that freedom and responsibility are not opposites. They are linked. You do not get one without the other. If you want to be free, you have to take more responsibility and responsibility creates more freedom. Handing off responsibility to someone else does not mean that you are free of means that they are going to make decisions on your behalf. It means they have control over you. Now you can outsource responsibility like at a company, but ultimately the final result is still yours. When it comes to something like starting a business, you have to take 100% of the responsibility for the result if you want to be free. A capitalist, a free person, takes responsibility, takes ownership for all results, all areas of life. One of the downfalls of our society right now is that there is a lack of responsibility. There's a lack of ownership over what it is that you want. There is a lack of saying I will do something about this. Not I will wait for someone, that I will hope for something, that I'll complain about something, that it is mine. I have to do something about this. When you do that, you get control and that is freedom. Now you are in control to make choices and that's freedom. That is you now having autonomy to make the choices. For the results that you get, that's the primary like freedom. First step of creating freedom is taking absolute responsibility and ownership over what it is that you are going to do, of what it is that you're going to change. Number two, the number two character trait of people who create freedom is that you create unique value.

Dramatic pause there.

You do not.

Create anything that is meaningful in the world unless it has unique value.

This is why I get so frustrated with business owners who are selling the exact same thing as everyone else and expect to have a different result. Capitalism is the system through which unique value gets distributed to people who want that unique value.

So in order for you to get some, to get yours, you must create unique value. This is also why I do not fear the robots taking over.

Because.

When we automate things, we free up what is not unique.

You can always create unique value to other people. Always. There is an unlimited supply of unique value. It's also why there's no scarcity in the world. When people worry about.

A rich person having a billion dollars while other people suffer.

They are equating dollars with value.

And because they make the mistake of assuming that dollars and value are the same, they assume that rich people are sopping up all of the value and the wealth in the world. But that is not the case. Value is subjective. We measure some of it in dollars. But you must create the value before you get the dollars. When you do that, dollars show up. You hear me? So by you creating something unique, that can be price, dollar, distribution, person, product, it can be a variety of different things. You creating what is unique in the marketplace to a group of people that want it is how you create value.

Unique value is valuable because it's unique. So the more it becomes like something else, the less valuable it is. You, as a capitalist who takes responsibility for what you want, are responsible to create that. And you do that by finding out what people want and you give it to them. Which leads me to the third character trait, which is that you have a give first mentality. Now, giving is not just an airy fairy way of making the world a better place. In order for you to get some, to get yours, you must create a disproportional amount of value so that the rest flows to you. There must be a greater amount of value that you create for other people in order for them to pay you.

In order for a relationship to work, both of you have to be giving more than you expect to receive. Because you never see all of the thoughts and all the things going on in that other person. And by doing that, you create a greater value for both of you. Right. That's why you're together, hopefully. Anyway, so the whole idea of capitalism is that you're creating something of greater value than you would do on your own. So you must have the mentality that what you are providing in any relationship, including a monetary relationship, must be of greater value.

To the person who is buying it than what you are getting. And the whole process of business is the predictable distribution of that value. So you have to have a mindset that what it is that you are providing is more valuable than what you are charging.

So when you make the, when you make your decisions based on what the marketplace is already charging, you've missed the point.

What is it that you have created that you are now giving to other people?

That is how we are going to determine what people pay you. I like how one of my mentors, Kevin, says, find out what it's worth to them and charge a little bit less.

That's, that's how you do it. You find out what it's worth to somebody and you charge a little bit less.

And this, by the way, is why value is infinite. The value is ongoing. There's no limit. Because value is subjective. You can always give a disproportional amount of value than what you are charging. That's your job. That's how you make money.

Number four, you think long term.

The longer term you can think.

The more wealthy, the happier, the more fit.

You will be.

Short term decisions.

Produce short term results.

Usually at the expense of the long term.

This is why you have things that explode out of nowhere and then fizzle away. The things that last have.

A long term mindset of creating value over a very, very long time. This is why crash diets don't work. This is why the result that is lasting is the one that requires you to build a system and follow it and produce something over a very, very long time. Going for short term wins usually.

Pushes the result away. Whereas thinking about what is very long term ends up creating the result that you want faster than pursuing the short term win.

This is why I have a long game of creating a lot of contents.

I'm thinking very, very long term.

So a capitalist practices these tenets of freedom. They take responsibility, they create unique value, they give first. They think very long term. Number five.

They consistently compound. What this means is you are going up to bat, you are taking swings.

That will build on top of one another over a very long time. This is the slight edge principle. This is practicing the same thing over and over again because it compounds over time.

How does Bezos become the richest person on the planet? By doing the small things over a long period of time. Yes, he had timing. Yes, he's a good business person, but he gets nowhere if he is not consistently compounding the same thing over and over. Do you know how long it took Amazon to be profitable?

Because. And. And Jeff Bezos was paying himself $80,000 a year after they went public.

Why is that? Because he was consistently compounding. He was chipping away. Chipping away, chipping away. Those results compound.

And as a result, that's how you create amazing results. So you take responsibility. You create unique value. You give first. You give disproportionately. You think long term. You consistently compound. If you're still with me.

Actually, let me say this. If you've tuned out at this point, it's because you're realizing that freedom's hard.

Freedom and great results are really hard. And they take a long time and they require you to be responsible.

This is why it only takes one. It only takes one capitalist to create real change in the world.

Number six, you practice transparency.

You practice transparency and not necessarily authenticity. Authenticity is a buzzword right now, but you practice transparency. Another word for that is honesty. You are honest about what it is that you want. You are honest about what you charge, what the value is. You are honest about the health of a business. Transparency is adding light to where there isn't light.

Transparency is saying what it is that you want rather than trying to negotiate around it. Transparency is letting other people see what you are up to rather than hiding it. And the reason for this is because when you are transparent, you actually are free to create what it is that you want. Anything other than real. Radical transparency is building a house on sand. It's building it on ego. It's building it on projection rather than what is really going on. There is a lot of freedom in reality. There is so much freedom in truth. The idea of the truth will set you free. It is because anything other than that requires you to be fake. It requires you to lie. It requires you to say what is not real. And that doesn't last. So the next time you're in a negotiation or the next time that you are in a fight with a significant other, say what you actually want.

Be very transparent about what it is that you want.

When you're building something, say what it is that you're building. You end up attracting people who align with that. It makes you free. It really really frees you up. The truth really does set you free. And it requires you to be very self aware and know what that is.

A capitalist, a free person, practices transparency. And finally, number seven.

You take care of thyself.

I'm of the opinion that it only takes one person to make a huge impact in the world. It only takes one product, it only takes one opportunity, it only takes one insight and everything changes.

And because you are the driver of that, because you are the one in your life, you must take care of yourself.

This is a lesson I've learned the hard way.

By taking care of yourself, you take care of the rest of the empire. And if not you, somebody has to take care of you. Somebody has to protect number one.

Probably do a podcast at some point about the idea of the queen bee. This is an Insight from Michael McCall. It's book called Clockwork. Fantastic book. It is the idea of what's the one operation in your business that can't go away, that can't be sacrificed. It makes everything else possible.

Well, in your life you are your own queen bee.

Nothing else can be created when you're off.

So if you are out of alignment, everything you produce sucks.

So if you want to be free, you must take care of yourself so that you can practice transparency consistently. Compound. Think long term, give first, create unique value and continue to take responsibility for the results in the life that you want.

That's how you create freedom. Those are the character traits, those are the habits that you practice every single day. Taking responsibility, owning what it is that you create in your life. Then creating unique value, giving more value by giving first create a disproportional amount of value. Thinking very long term, consistently compounding that same habits over and over again to get a long term result. Practicing transparency, being very honest about what you are pursuing and what's going on and taking care of yourself. That's how you create the results that you want in your life. That is how you maintain freedom over the very long term. I'd love to hear your thoughts on today's episode. You can me on Instagram. I'm @ryandaniel Moran or you can email me. I'm @I'm RyanApitalism.com I root for you, talk to you on the next episode.

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