Note: this article is massive, and it’s a bit more personal than I usually get, but I’ve summarized the lessons I’ve learned over the last six weeks about overcoming fear and dealing with unexpected life changes. My belief is that fear of the unknown is the only barrier between you and the life you want to have, so I’m certain almost everybody can get something out of this. Also, on a related note, if you want to take action to break each of your fears into much smaller, actionable items, to facilitate change and actually take control of your life, I highly recommend my friend Sean’s Overcoming the Fear of Uncertainty program.

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When a resolute young fellow steps up to the great bully, the world, and takes him boldly by the beard, he is often surprised to find it comes off in his hand, and that it was only tied on to scare away the timid adventurers.”

–Ralph Waldo Emerson

Maintaining relationships as a permanent traveler and entrepreneur has it’s challenges. I’ve been puzzled as to how to broach this topic here, but I recently parted ways with my (now ex-) girlfriend.

Nikki was (and always will be) a stunning, inspiring, ambitious woman. We met in Bangkok, she had built her own successful business, we saw four countries together in the last eight months alone, and together we got a beach house on beautiful Koh Phangan island in the south of Thailand. In many ways, we were the perfect travel couple. I thought I’d found the love of my life. So it’s hard to share with the whole world when you fuck something that good up.

Maybe we rushed into things. Maybe our hopes were too high. Maybe we were too alike—both A-type, hard-headed entrepreneurs, both accustomed to the ever-changing permanent travel lifestyle, and both very stubborn. We both had outside stresses, and moving from a busy city with literally hundreds of friends we could go out with nearly every day of the week, to sharing a home together for the first time, together nearly 24/7, on a small island where we didn’t know anyone, we had a few fights that escalated from bad to worse, and eventually I left Koh Phangan.

In retrospect, I don’t even remember what our arguments were about. Average disagreements, minor hurt feelings, money worries, but they would spiral out of control as we provoked each other to higher and higher stakes back and forth. Occasional fights are inevitable in long-term relationships. But perhaps we hadn’t had enough time to fully figure each other out, or maybe we both still need to learn how to handle those misunderstandings and disagreements properly with a more mature discourse.

Over the course of several months I had adjusted my business and scaled back on a lot of the projects I had been doing on my own (to clarify, she didn’t ask me to do this) to help her expand her magazine online and across Asia further. She had wanted me to potentially partner with her more officially on it, and we’d had plans to travel to South America in 2011 and do similar business there…

So when we went our separate ways, not only did I walk away from a girl that meant a tremendous amount to me, but I also became a homeless “digital drifter” again, and reverted back to solo entrepreneur. Because I had dropped a few big clients and discontinued some of the services I had been providing over the months, it’s put me at a crossroads in my business: what direction do I go? What opportunities do I get back into? Do I search for new clients or reinvent things and do something entirely new?

Not being in a committed relationship also puts me back in a position where I could almost go anywhere in the world, which is actually scary as hell. The decisions are paralyzing.

We’ve all had experiences like these—it was actually another breakup over three years ago that pushed me to move overseas—and I’ve had countless emails from readers in similar situations, who also experienced a breakup, or some other big life change.

But these big changes that we experience—losing someone you love (through a breakup, the death of someone you care about, or otherwise), having your career or your business thrown in disarray, experiencing a huge change in your living situation before you’re ready for it, trouble in your family, misunderstandings with your friends, and many other similar things—they can also bring out massive fears that—if you don’t overcome them—will put you in a rut for months or years, and may destroy you.

We may feel fear because of an experience that has happened in the past which triggers fear in the present. We might feel fear of uncertainty, or fear of the unknown. Or, we may even be frightened of doing what we’ve always wanted to do with our lives—a kind of nervous excitement, if you will.

[…] Fear is debilitating. It keeps us at a distance.  It stops us from moving forward.  It holds us back.

Our natural instinct when we begin to feel fear is avoidance.  Many people will go to unnatural extremes to avoid their fears, rather than dealing with their fear, and moving forward.”

–Brooke Ferguson

The Fear of Uncertainty

I am a firm believer that the only thing that holds you back from getting the things you want in this life is yourself—or, to be more precise, your fears.

Fear is a product of our evolution—it’s a survival response, a remnant from caveman days when we needed to remain alert and move our asses to avoid getting eaten by sabertooth tigers. But life in modern society is pretty cushy, and that inherent fear and anxiety response isn’t so useful anymore. At least I haven’t come across too many sabertooth tigers.

You’re never going to completely remove the fear. But you must master the fear if you want to be successful in life and attain your goals.

Most of us fear failure in some form or another. A lot of people stay in their 9-to-5 jobs because they fear the unknown—not having that paycheck to rely on, or they fear their own ability to go out and find enough paying clients to make a living. I experience that fear every month! Or you might fear that people will think your idea is stupid, that no one will buy. People will laugh at you because you choose to walk a different path—the unconventional path.

“Most people will choose unhappiness over uncertainty.”

–Timothy Ferriss

But it’s not going to kill you to fail. Ask anyone successful how they got there, and they will undoubtedly tell you about the many, many failed ideas and failed attempts they made before they became an “overnight” success.

Failure doesn’t have the same sharp teeth and claws that it used to. If you’re trying to do big, remarkable things in business or in life, then failure is unavoidable. It’s part of the journey, part of the learning process. And in fact, failure is only going to teach you what you didn’t know already, and it will teach you lessons to apply in your next attempt at success.

One lesson that really made a huge impact on me early on, from Ramit Sethi, is that if you’re not failing at a few things each month, then you’re not trying hard enough. Ramit keeps a folder for failures, and he’s a New York Times bestselling author now.

Mountains from Molehills

Any big life change is going to feel like an insurmountable goal before you actually achieve it. The more you think about it without taking action and getting started, the more you will build it up to be a huge challenge in your head.

I remember before I finally pulled the trigger and packed my bags to live abroad in late 2008, I was scared shitless about leaving my comfortable surroundings. I thought I might end up spending a year in Asia in complete solitude. Boy did I turn out to be wrong though! I have friends now that I would never have back home—millionaires, media personalities, nightclub owners, authors, folks from all industries and from every corner of the world.

my 2nd day in Bangkok

I made it out to be a much bigger obstacle in my head than it really turned out to be. There were plenty of challenges, as I arrived in Beijing, China, just as the Bangkok airport was closed down by political demonstrations, and they wanted to turn me around and send me back to California.

But once I was moving towards my goal, once I was on the road traveling, I was surrounded by a completely new world—foreign languages I didn’t understand at all, different social norms—and it forced me to be resourceful. I had to learn and overcome the challenges, and in fact it increased the rate at which I was learning new things and becoming more resilient.

How to Royally Fuck Up a Sure Thing

Alright, so how to actually deal with the fear…

First, I want to tell you how not to deal with your fears. This is something that I’ve probably done over and over again, and one of these days I’ll have to learn that if I want a different outcome, I have to change my behavior. But I’ll share it here so hopefully you can learn a lesson from my failure.

So to go back to the breakup, a huge fear that I’ve recognized in myself is the fear that I’ll never find the kind of companionship I want—someone to share my life with. I’m not ready to settle down in one place, and I know I’m not mature enough to get hitched just yet, but I’m pretty serious when it comes to dating, and I’m looking for the right woman to join me on my unconventional journey through life—with all the ups and downs of travel and business thrown in there.

I tend to be extremely loyal when I find someone that fits—sometimes too much so. But a common fear that crops up in my relationships is that my other half isn’t as committed to the partnership.

In Nikki, I found someone who was exceptionally like-minded—she also enjoys the unleashed travel lifestyle and has the ups and downs of entrepreneurship. Very rare, but we understood each other pretty damn well. We made an incredible couple, and had a brilliantly fun time, something I’ll always be thankful for. We were almost sickeningly cute at times, I’m sure.

The huge mistake I made, though, was letting the fear take control at the first sign that something was wrong. Seth Godin calls it the lizard brain—the fight or flight tendency.

When we fought, all my biggest fears came out: that she would leave me, or maybe that I wasn’t good enough for her, and that even if we did work things out, get through the argument and come to an understanding, eventually there would come a time when I wasn’t able to keep her happy and the relationship would fall apart anyway.

So rather than fully committing myself to working things out, getting through the argument and working at it to come to an understanding, which is the mature thing I should have done, I let my past experiences dictate my behavior, and I acted out of fear. I said things I didn’t mean. And at the end, I was the douchebag who walked away from her, because I feared she would dump me, and I was desperate to avoid that pain (real or imagined).

I feared a certain outcome, so rather than working hard at it and being there the way I should have, I overreacted out of fear and prematurely severed the relationship because I feared an unknown future. When I realized what a mistake I’d made, I spent a week or two trying to persuade her back with logical reasoning. This is exactly the opposite of what you should do. There’s no reasoning with someone to love you; I’d already lost her trust.

“Love is an act of endless forgiveness, a tender look which becomes a habit.”

–Peter Ustinov

Moral of the story: if you really want something, don’t let fear take the wheel and go into fight or flight mode. Don’t react and be a jackass when you fear an unknown outcome. Instead, stay reasonable, keep a cool head, hang in there and keep working hard, taking the steps necessary toward what you want. Because you never really know what will happen—you can’t predict the future—but a lot of people sabotage themselves, almost subconsciously, so that they don’t have to experience failure if they don’t get what they want.

This applies to relationships, but also to pretty much everything else too. Don’t do this!

Keep Your Options Open

No matter what fear you’re facing, the biggest element is that we all fear we will be ruined if we fail. Life will be over!

But that’s just not true. What you need is to figure out your options if everything goes horribly, a backup plan, if you will. A lot of times we have these fears because we don’t know what alternate options we have. So you need to spend some time and think about your options.

Tim Ferriss calls it fear-setting: you need to spend some time and think about your options if the worst case scenario happens. Try writing down exactly what would happen in the absolute worst case, if you completely and utterly fail at your goals. Then map out as many paths to recovery as you can, or alternate solutions to achieve your goal.

A few weeks after my breakup, I sat down and put together a mindmap with some of my biggest fears right now at this stage in my life: what direction to go with my business, money troubles, my fear of loneliness, and yes even the fear that I’ll never find the Mrs. Right.

Once I did this, I actually realized how many friends I had coming through to visit, how much fun was in store, I realized how many different business opportunities were already open to me, and new income streams I could start if I put in the effort, I even realized a lot of the positive things about my breakup and being on my own again. It made a huge difference in my attitude, and gave me the energy to look for new possibilities and keep pressing forward.

Once you define your worst possible outcome, and brainstorm solutions for it, you’ll see that in most cases failure will be much easier to come back from than you might fear. This should help remove a lot of the uncertainty for you in any area of your life.

Surround Yourself with Good People

I was exceptionally fortunate that I had a good friend not far from where I was: Brooke Ferguson was just a few hours away in Krabi, Thailand. I took a bus to see her, she helped me get my feet back on the ground now that I was homeless, she listened to all my braindump about what had happened, gave me lots of helpful insight, and we even got some momentum going on an exciting new project.

Several friends have actually come to visit in the last two months: Craig Gonzales, who wrote here about friendship and location independence recently, Colin Wright, Carlos Miceli, Ross Hill, Dwight Turner, Matt Goult, and others. Some were there when I needed someone to discuss my breakup and my fears with, and slowly, through many conversations, I was able to learn some important lessons and understand my mistakes a bit better.

Markus from LivingOnImpulse.com & Dwight from InSearchOfSanuk.com

Some of them were there when I just wanted to go out for drinks and a fun time. A couple joined me on the renowned rock climbing routes in Railay Beach, Krabi (which itself, like skydiving, deals with my fear of heights. Staying active, or getting involved in a new activity can be a great way to challenge yourself in new ways and overcome unique challenges that you can then also apply in other parts of your life. Like losing a toenail after four hours of climbing, and then having to climb through pitch black caves and abseil down a 100-foot limestone cliff barefoot!)

abseiling barefoot over West Railay Beach

A rare few will excel at helping guide you through your own mental process, which is exactly what Markus Urban was able to do with me when we met for a few days of food, drinks, adventure, fun, and deep conversations.

Don’t compound your fears by staying isolated from the world. Often, if you can talk things through with people who you trust, they’ll help you see new things you didn’t see on your own. Getting the support of good friends, or family, can help infuse you with the courage you need to overcome your fears. And remaining present, honest and open to old and new people around you will frequently present new opportunities that weren’t there before.

Stare Fear in the Eye

It’s likely that what you fear most is what you must do. Steve Pavlina says that whatever you fear is not really an obstacle, but a challenge that you must face:

“The reward for facing fear is that you get to be fully alive. When you turn towards your fear, you feel the breath of life blowing straight at you, and it’s very refreshing. You feel awake and energized. It’s not that you become an adrenaline junky. You simply realize that you can’t let fear stand in your way if you want to live your life consciously. Being afraid of something is no excuse for not doing it.”

–Steve Pavlina

All the big things you want to accomplish will stir up your fears to some degree, and it’s only by confronting those fears head-on that you’ll ever overcome them and achieve anything remarkable. If something seems impossible, then break it down into smaller parts, and start today on the first one that will get you going the direction you want to go.

By breaking down your huge fears into small pieces and taking action every day, you’ll start to build up resilience and tenacity in the face of those fears. And every time you have a small breakthrough or a victory over something you fear, you’ll gain more and more momentum to continue on and take on bigger and bigger challenges.

I finally decided to take initiative on a big, impossible dream I have of hosting some kind of an entrepreneurship, personal development and lifestyle design summit in the Southern California desert—a sort of unconference and retreat with inspiring, like-minded people who want to create radical change in their lives and build meaningful businesses.

As soon as I started sharing this idea with the right kind of people—a few folks who I really look up to and a few individuals who crossed paths by serendipity and shared an understanding of what change I want to make in the world—I started to get positive feedback from some who are also interested to participate and make something happen, which has given me new motivation to put in the attention and effort and make this one of my central projects in the coming months. (More on this soon, but if you want to learn from and collaborate with some remarkable people for a week in Palm Springs, say around mid-April when Coachella Music & Arts Festival is on, drop me a line.)

And in the dating arena, I’ve simply forced myself to keep being social, going out and meeting new people, bonding with new friends, and already I’ve found that there are plenty of great women out there to meet and plenty of potential for new relationships when the time is right, and maybe my huge fear that I’ll spend eternity alone isn’t true after all.

Are You Avoiding Doing Something Out of Fear?

“You miss 100% of the shots you don’t take.”

–Wayne Gretzky

Consider what you have to lose by not taking action. Will you get another chance at this? Are you happy with things as they are now, or are you miserable? Will you choose unhappiness over uncertainty?

The key to achieving your wildest goals in life is to overcome the fears that hold you back, and to question your assumptions. The more certainty you require in life, the more you will be let down and unhappy. The people who succeed are the ones who accept that much of life is uncertain, and every day will serve up new challenges. Sometimes you’ll feel prepared to handle them, but most of the time you probably won’t. You must learn to adapt quickly to change, seek out how you can turn uncertainty to your benefit, and stop being a victim—but instead start looking for the lessons you can learn from life’s challenges to make you stronger.

Here are four lessons I’ve learned as I’ve overcome big challenges and faced my fears:

1. If you feel pulled towards something, embrace it and race toward it.
2. Big life changes are never as scary as you make them out to be in your head at first.
3. No matter what happens, you will adapt to new surroundings and new things in your life surprisingly quickly.
4. Even if your plans don’t unfold how you want them to, at the very least you will experience growth and learn valuable lessons along the way.

The willingness to risk the comfort of the familiar in order to find your true happiness is the path to living a remarkable life.

“Winners expect and embrace failure as something that will remain constant throughout their lives. No matter how successful they are in whatever they do, they will have the failures to go alongside it.

Every winner out there has had to first become a Master of Failure before enjoying the winning side of life.”

–Kevin Abdulrahman

There always have been and always will be a small subset of the population who lead remarkable lives. They choose not to allow fear—of the unknown, of uncertainty, of failure—to hold them back from doing big things. They take action in the face of fear. The question is: will you choose to be one of them? Will you overcome your fears and live a remarkable life?

If So, the World Is Your Oyster!

Image: Anton Balazh

Read the original article on Thrilling Heroics here: How to Keep Kicking Ass When You Lose Everything

Today I’m really excited to unveil an exciting new community for twentysomethings, college students, and young professionals who want to shatter the ‘template’ lifestyle and live an awesome life on their own damn terms!

Work where you want… Live how you want… Be who you want to be.

Untemplater is the culmination of nearly four months of hard work with some incredibly cool co-founders: Jun Loayza from Viralogy.com; Adam Baker, nomadic family man at Man Vs. Debt; the philosophically-brilliant Carlos Miceli of OwlSparks; published author and consultant Monica O’Brien; and our rad web developer Andrew Norcross. We’ve also got dozens of fabulous writers lined up—young entrepreneurs, lifestyle designers, digital nomads, and more—who will share their personal stories and guidance on how to design your ideal lifestyle and career.

There are many blogs and books meant to teach and inspire you to leave your corporate existence in order to pursue a venture that you’re “passionate” about. Most of these sites mean well and are inspirational, but they’re written by gurus who’ve already “made it” and aren’t in touch with your reality, or they’re written by pure theorists—people who haven’t actually put their lessons to action—they talk the talk but don’t walk the walk.

Untemplater, on the other hand, is composed of real people who are in the trenches, working hard to live the life that we want to live. It’s not easy, nor is it glamorous. You’ll see our pain, struggles, successes, and failures as we create an existence that we are proud of and enjoy 24 hours a day, 365 days a year.

We are MBAs; we are husbands, wives, and fathers; we are scrappy entrepreneurs, authors, and freelancers. We live all over the globe. We’re a small group of unconventional folks who hope to build a thriving community for anyone who ever sought more out of life—and we hope to help you learn how to sidestep the traditional life to find the career, relationships, and lifestyle that makes you come alive!

Grab a Bunch of Awesome Free Shit!

Jump in, read the free download we’ve put together for you that examines the Untemplater lifestyle and shows you six unconventional, remarkable lifestyle case studies.

[Also check out my first feature post at Untemplater to watch my lifestyle design video success story since reading The Four Hour Workweek in 2007]

We’ve also partnered with some incredible folks like Seth Godin, Gary Vaynerchuk, and Chris Brogan to give away tons of great business books, as well as a few $500 seats in Josh Kauffman’s Personal MBA Business Crash Course! Starting tomorrow and for the rest of the week, we will be hosting giveaway contests to win all kinds of stuff, so sign up for our exclusive Untemplater Insider email list and stay tuned to Untemplater.com throughout the week to participate!

Join our rebellion against the status quo at Untemplater and learn how you can Work Where You Want to Work, Live How You Want to Live, and Be Who You Want to Be in 2010.

Read the original article on Thrilling Heroics here: Take Back Control of Your Life in 2010!

Feature photo by chanchan222

For readers from the States, I wish you a happy Thanksgiving! A few months ago, I was thinking about all the individuals who have helped shape the course of my life and the person I am today. I’ve been extremely fortunate to have the guidance of some brilliant minds and to surround myself with motivated, creative, innovative people.

They say your character and your achievements are influenced most by the people you surround yourself with. There have even been studies that show your income bracket is likely to be equal to the average of that of your five closest friends. So who are you surrounding yourself with?

Today I wanted to share my gratitude to my many teachers, mentors, role models, and friends who have influenced my life and given me their support. It’s important to acknowledge those who help foster your abilities and empower you to pursue the life you want.

Alec Hodgins

A French Canadian who taught English in France for years and then migrated to the US to teach French! I was lucky to be in his class for three years in high school. Alec was the most influential teacher I ever had in school, always advocating the unconventional path. He was the one who inspired my fascination with world cultures, languages, and travel. My first travel abroad was on a class trip with him to Cannes & Paris, France, and he first got me drooling over photos of Thailand when he took his wife and son there in 2000.

Lesson learned: You don’t have to color inside the lines all the time.

Alan Haynes

My photography teacher in high school, again for three years. In another life, I was a professional photographer (now it’s mostly a hobby, but I have a travel photo site coming soon). Alan connected me with my very first job, working in a darkroom, and showed me that it was possible to earn a great living if you split your time as an artist and as a teacher, to pass on your craft to the next generation.

Lesson learned: It’s okay to pursue your creative passion professionally.

Nicole Pefley

I met Nicole in middle school and our paths have intertwined ever since. She’s been a two-time Coachellian with me, we have a shared love for travel, French, music, and other assorted weird experiences. After high school, she lived in Paris for many months, and then spent a year studying in Brazil, so she was a great example for me to follow when I chose to live abroad for a while. Recently, she’s followed in Alec Hodgins footsteps and began teaching French at our old high school.

Lesson learned: We’ve both found you really can be a drifter for a few years after school, explore your interests, and eventually land on your feet.

Ramit Sethi

I’ve mentioned Ramit a few times recently. He was the first big blogger I reached out to when I started building my online presence in 2006, and I found out we’re from the same town! He’s a perfect role model for gen-y bloggers and entrepreneurs—he’s a year older than me, a graduate of Stanford University, and a successful tech startup co-founder. He’s worked with bigshots like Seth Godin and eBay founder Pierre Omidyar, and now he’s a New York Times bestselling author!

Lesson learned: Nobody’s going to give you handout. But there’s no harm in asking for what you want.

Jeffrey Skoll

Jeff Skoll was the first president of eBay and founder of movie production company Participant Media (responsible for bringing An Inconvenient Truth to the world). He’s been an active voice at Stanford’s Center for Social Innovation, and took his wealth from his success at eBay to become a philanthropist and support innovative entrepreneurship and social change with the Skoll Foundation. I’ve never spoken to Jeff, but he has always served as a great social entrepreneur role model for me.

Lesson learned: You can make a damn good living and make a difference at the same time.

Warren Buffett

The “Oracle of Omaha” is known around the world as one of the world’s most talented investors and money managers, the CEO of Berkshire Hathaway and the richest person in the world (up until 2008, worth about $62 billion). Buffett started out with the money he earned as a newspaper boy to buy his first assets, and despite his now immense fortune, he still lives in a home he purchased for $50K in the 1950s and embraces a frugal lifestyle. In 2006, I had the opportunity to meet him briefly, just weeks after his announcement that he’d be giving away 85 percent of his fortune to the Bill & Melinda Gates Foundation.

Lesson learned: If the wealthiest investor & philanthropist in the world grew his business from just a few dollars from his paper route, you can too.

Rajesh Setty

I connected with Raj through his blog Life Beyond Code in my early days of blogging. As a serial entrepreneur, he tends to be involved as a co-founder, investor, or board member in about eight companies at any given time. He shares his wealth of business experience and motivational wisdom through his blog, Twitter, speaking engagements, and his books, and he was a huge influence on me when I first started my freelance side business which later grew into Thrilling Heroics Consulting.

Lesson learned: Business isn’t about a product, it’s about the people you work with, the relationships you build, and the dedication you show to your customer.

Timothy Ferriss

My interest in coming to Southeast Asia was fueled by reading Tim Ferriss’ inspiring NYT Bestseller The 4 Hour Workweek. Ferriss noted that Thailand and Argentina were two of the world’s best remaining destinations where Americans can easily stretch their dollar, and that if you spend the time to build a business that you can run from anywhere, you can easily leverage the idea of geo-arbitrage—earning in a strong currency while you live somewhere with a low cost-of-living. Though I’ve never met Tim, his ideas and experiments have certainly influenced a lot of my business decisions since reading his book!

Lesson learned: You don’t have to wait until retirement to create the lifestyle of your dreams. Also, nobody ever said you have to follow the rules.

Jacqueline Novogratz

Founder & CEO of Acumen Fund, a nonprofit venture fund that invests philanthropic capital and trains the next generation of business leaders in South Asia and East Africa to build thriving businesses focused on delivering affordable healthcare, water, housing and energy to the poor. She delivers a few incredibly pursuasive TED Talks and is a shining example of some of the social entrepreneurs that are trying to lead social progress for the developing world. (Side note: Jacqueline is married to TED‘s founder Chris Anderson, another inspirational figure who has proven that that ideas can change the world. I’m excited to bring Chris’ vision to Thailand in Febraury with TEDx BKK!)

Lesson learned: Entrepreneurial approaches can be applied to solve the problems of global poverty.

Matt Mullenweg

At just 25-years-old, Matt Mullenweg has developed a company that is changing the way businesses interact with their clients online. His company created the WordPress blog platform, which makes it easy for anyone to get started publishing online, and which is what I have built my two businesses around—Thrilling Heroics Consulting and FreelanceWP—to help make online publishing more accessible to everyone and help innovators and changemakers spread their message to the world. Matt is a huge advocate of open-source development, which is making great software more quickly and easily possible, and transforming how we think about ownership.

Lesson learned: Share your best ideas with the world freely to empower the largest possible community, and it will come back to you many-fold.

Paul Dickey

Paul joined E*Trade after high school and became senior internal auditor, working around the world and overseeing a team of employees with advanced degrees. We met in college when he returned to get his own Bachelor’s degree, lived together for nearly a year, and traveled to Spain together with friends. Paul led a campaign to implement leadership studies at Sac State, was president of several student organizations, and together we attended many entrepreneurship conferences, organized monthly Saturday art walks in Sacramento, launched the U.S.’ fourth university Toastmasters chapter, and networked with tons of other entrepreneurs. He’s got a few business plans laid out, a submission with the patent office, and real estate property.

Lesson learned: Set your life goals and manage your time appropriately, and you can maximize your involvement in different entrepreneurial opportunities to guarantee your success.

Chris Guillebeau

After Tim Ferriss, Chris Guillebeau has perhaps been the most influential writer encouraging the masses to think differently and pursue unconventional, remarkable lifestyles. Chris is on a mission to travel to every country in the world (he’s already visited 122), and since starting his blog The Art of Nonconformity a little under 2 years ago, he has managed to create a full-time income for himself just from his writing projects. He even has great tips on how to travel to rogue states and “off-limits” places like Iraq, Afghanistan, Burma, Libya, Syria, Zimbabwe, Cuba, Iran, Sudan, and North Korea. I got the chance to meet him on his way through Bangkok in February, and have often been inspired by his thoughts on entrepreneurship, success, and changing the world.

Lesson learned: You really can go anywhere you want, and create your own wealth along the way.

Dwight Turner

Dwight and I met briefly in college. When I learned he had taught for a year in Thailand, we became fast friends and eventually both ended up back in Bangkok together. Dwight’s In Search Of Sanuk is a grassroots charity organization that makes it easy for anyone to contribute their time or donations to make a difference for orphans and refugees here in Thailand. He housed me when I first moved out here, has supported me through a lot of the challenges of getting used to expat/entrepreneur life, and together we’ve done a lot of traveling, volunteering, and bringing cool people from different walks of life together for the monthly Bangkok Tweetup, charity mixers, and other social events.

Lesson learned: It’s easier than you might think to mobilize a community to create social change.

Vanessa Rubin

An incredible young woman I was lucky to meet this year here in Bangkok—Vanessa is an aid worker who has spent nearly a decade working on humanitarian projects (frequently as a food & hunger advisor) in places like Nepal, Burkina Faso, Sierra Leone, & Bangladesh—she’s full of life, an avid rock climber, and earlier this year she was filmed for the BBC’s TV series Extreme Dreams on an expedition to scale Mount Chimborazo in Ecuador. She came to Thailand to review progress made by Care International since the 2004 tsunami.

Lesson learned: Always reach for new heights and seek ways to improve the lives of others, but never neglect yourself either.

Larry McKibben

My dad has been the biggest supporter of my unconventional entrepreneur & digital nomad lifestyle. Though I’ve made plenty of mistakes along the way, he has often been the one to encourage me and give me the pep-talk I need. Although he didn’t finish his college degree the first time around, he has had an extremely successful twenty-year career in retail sales and training and quickly worked his way to earning an envy-inducing salary. He’s always been dedicated to his family and a great example of a hard worker.

Lesson learned: With enough dedication, you don’t have to let perceived barriers-to-entry prevent you from being successful.

So who are the teachers that had the most impact on you? Who are your mentors? What supportive friends and role models are you thankful for?

Read the original article on Thrilling Heroics here: Show Thanks For Your Teachers, Mentors & Role Models

When I first started reading blogs, Ramit Sethi was one of the young writers who inspired me to get involved in the blogging community, as well as entrepreneurship. He’s a Stanford graduate who’s been helping readers save money for over three years, as well as a co-founder of a cool San Francisco startup, and he’s worked with Seth Godin and tons of other cool people! (Check out my 2006 interview with Ramit!)

Ramit has finally authored a hardcopy book to help folks optimize their finances, and it launched a few hours ago! There are several really awesome, useful preview chapters available, and Ramit’s even giving out prizes to a few lucky readers if you purchase your copy today. In his own words:

This book works. For about $10, you’ll get the step-by-step guide I wrote to walk you through optimizing your accounts, negotiating with banks and credit cards (use my call scripts), spending consciously (use my charts to see guidelines of how much people typically spend, and how to beat “typical” people), and how to invest. I’ll show you how most people think personal finance is all about willpower, like “If I just try harder, I’ll be able to save more…” That sounds suspiciously like a diet, which always fails. The book shows you how to automatically redirect your money to investing, saving, and guilt-free spending — even if it’s $200 jeans or $5 coffee every day.

Check out the cool gifts he’s giving out: if you buy a copy of the book and forward your receipt to iboughtthebook@iwillteachyoutoberich.com, you’ll be entered to win one of the following:

1. One Kindle per hour today: I’m giving away ONE BRAND-NEW KINDLE EVERY HOUR today (from 8am-4pm Pacific) to anyone who buys the book and forwards the receipt to iboughtthebook@iwillteachyoutoberich.com
2. $1,000 for 5 savings accounts—each. Mint (which I use and recommend in the book) is giving away $1,000 checks to kick-start savings accounts for FIVE book buyers (that’s $5k in total)
3. Software from Pearbudget: Three $30 accounts to help you manage your money
4. Entrepreneurs—free advice. Chris Yeh (Stanford/Harvard Business School grad) and I will get on a conference call with 3 aspiring entrepreneurs for 20 minutes each and answer any questions you can throw at us
5. I’m live on video throughout the day. I’ll be doing a live webcast for most of the day at iwillteachyoutoberich.com, so drop by and say hi

Ramit is an insightful writer who’s got hundreds of useful, actionable tips to help you save money, spend more wisely, and invest where it counts. His blog is great and he’s been a huge success, so I highly recommend picking up a copy of his brand new book I Will Teach You to Be Rich! Learn from the best! I highly recommend this guy’s work.

Read the original article on Thrilling Heroics here: ‘I Will Teach You To Be Rich’ Blogger Ramit Sethi’s New Book Release

For readers in the States, the 4th of July is the anniversary of the day the U.S. signed the Declaration of Independence. ABC News celebrated Independence Day with an article yesterday to help wannabe freelancers declare their own independence!

Michelle Goodman, the blogger behind Anti9to5Guide.com, asked in her Career Management column at ABCnews.com, “Ever Dreamed of Working at Home in Your Pajamas? Make it Reality.” And she answered with Five Low-Cost Ways to Be Your Own Boss, an article that looks at five great occupations for new freelancers: professional organizer, copywriter, blog designer, bookkeeper, and virtual assistant.

It’s an easy read if you’re thinking about going into a freelance profession, and the cool part is that Michelle interviewed me for tips from my experience as a blog designer and consultant. This was my first time breaking into traditional media, and it was a cool opportunity for a little publicity of my freelance business, ThrillingDesign.com.

So how did I do it? I’d like to say that I was fortunate enough to score this brief interview for ABC because I was willing to invest into building a relationship. Michelle is someone I established an acquaintance with nearly a year ago when I interviewed her for Ramit Sethi’s I Will Teach You To Be Rich blog. I took a genuine interest in her work and her book The Anti 9-to-5 Guide: Practical Career Advice for Women Who Think Outside the Cube because obviously, freelancing is something I’m passionate about. We’ve stayed in touch since, and she must have kept track of me as I started up my own freelance business in the last several months. So when she was looking for a freelancer who helps business owners and writers customize their own blogs, she came to me knowing it was right up my alley.

The lesson here is simple: if you have a genuine interest in what others do—be they columnists, authors, CEOs, or whatever—don’t be afraid to reach out and ask them a few questions about it. I’ve met the second richest man in the world, and interviewed a billion-dollar hedge fund manager, and I think that almost anybody, no matter how rich, powerful, successful, or famous, likes to feel like others have a genuine interest in what they do. And often times, if you show that toward others, they will reciprocate at some point.

I feel very honored to be a part of Michelle Goodman’s piece on ABCnews.com. She’s a fantastic writer and the article takes an interesting look at the lives of a few different freelancers. She recommends you look at the Small Business Association (SBA) and SCORE if you’re interested in going self-employed, among a few other resources. I’m also looking forward to her upcoming book in October, “My So-Called Freelance Life: How to Survive and Thrive as a Creative Professional for Hire.”

She had a number of great questions for me when we spoke, but naturally there was only space for a small portion of what we discussed in the finished news article, so I’ll try to share some more thoughts on freelancing and blog design in my next post here at Thrilling Heroics.

[see: Five Low-Cost Ways to Be Your Own Boss on ABCnews.com]

Read the original article on Thrilling Heroics here: How to Make Friends with Career Columnists and Influence Mainstream News Organizations

It’s not easy being a student. Paying for tuition and books, rent, and the occasional entertainment, even if you are working, can be quite a challenge. But good news is here: you can build the skills to become wealthy while you are still a poor college student! You will need excellent financial IQ when you are the head of your household or your own business, so it’s best to develop those behaviors now. Admittedly, I was not always the most financially-intelligent student. But, since investing some time in learning a few simple “tricks” that make tracking, stretching, and keeping more of your money easier, I’d love to share some of those easy solutions with you. First, there are the “duh!” basics:

• Budget your finances! Don’t just throw away all your receipts. I know it doesn’t sound fun, but for one to three months, record each purchase you make and categorize it. Use Quicken, Microsoft Money, or paper-and-pencil. This will let you know where all your money is going, and then you can start to plan ahead and set a budget so you don’t go over. Cody’s super-easy hint: Although you have to be disciplined to do this, I use a credit card for virtually all my purchases (earn the rewards points in the meantime and pay it off at the end of each month), which makes tracking my spending a lot easier–no cash purchases to remember! You could also use a debit card. Once you have recorded what you spend, here is the easiest two-category budget plan EVER!
• Pay your bills on time! Use a calendar like Apple iCal, Outlook, or Google Calendar, to send yourself reminders a few days before your regular bills are due (rent, utilities, credit cards, etc.). Or use Quicken reminders, or check out a service like BillQ if it works for you. Paying on time is the best thing you can do to ensure you build good credit, which you will need later! Cody’s helpful hint: Most online banking services allow you to do online bill-pay and schedule payments for ANY available business day. So, take your bills as soon as you get them in the mail, go into your online banking, and set up a payment to be delivered by the due date, and then you can forget about it! This means the money is available and earns more for you as long as possible, but the bill still gets paid on time.
• If you have credit card balances, keep them on a 0% card. Mildly shady, but entirely legal. If you have debt, which many of us do, at least keep it on low-interest or zero-percent cards. Better yet, put your purchases on a rewards card! (I once got a card that gave me a free iPod Nano for transferring a $2000 balance.) There are a thousand credit cards out there with 0% introductory rates (usually for the first year), so take advantage of that and then simply transfer your balance to another one when the intro period is up. (This is not to encourage you to continue to maintain a balance though; pay off as much as you can each month until it is GONE!) Cody’s word of caution: Just be careful, read the fine print, know when the introductory rate is up, and AVOID balance transfer fees (many cards charge 3% of the transfer amount, but there are plenty you can find that have no transfer fee for new cardholders). Check out Jim Wang’s posts on 0% balance transfer offers and other credit card offers. Also see the next step for a tip on how to lower your credit card interest rate.

Now here are a few other, little-known hacks that you can use, and then laugh and taunt your friends for being stupider than you! Remember, the little things add up:

• Call your bank/credit card to get a better deal! This sounds so simple, but 99.9% of people DON’T do it! Here’s what I suggest, every time your bank charges you an overdraft fee, an international fee, or any other kind of fee, or if your credit card charges you a late fee for receiving your payment a day after the due date for instance…CALL THEM! And ask nicely. Give your defense if you have to. The worst that can happen is they’ll say no. And you’ll be no worse off than you were before placing the call. But I guarantee you, 95% of the time they will say exactly this, “Well, we normally don’t do this, but I’ll give you a one-time fee-waiver.” Remember, they want to keep you as a customer, so financial institutions are usually willing to part with 10 bucks here and there, and the majority of people won’t call them out on those fees, so they’re making plenty already. If the customer service rep denies you, just call back in a few minutes and speak to someone else! Also, here’s a fantastic guide to lowering your credit card rate with one phone call. Cody’s additional $0.02: in addition to the FreeCreditReport site they recommend, check out the Federally-mandated AnnualCreditReport.com for your free yearly report. If you pay your bills on time and you have a 700+, you have a LOT of leverage with credit card companies! (And you should look into getting some fantastic rewards cards!)
• Use coupon codes and discounts when shopping online. This one’s pretty simple, but when you shop online, especially around the holidays, try to take advantage of promotional codes and discounts. I don’t recommend going out of your way to buy the things you see coupons for (that’s why companies print coupons, don’t you know? So you will SPEND more!). But, if you already plan on getting a few items online, check a site like CurrentCodes.com to see if there are any special deals for the particular website you’re looking at purchasing from–discounts, free shipping offers, etc. This saved me about $30 on a Lost Season 2 DVD set once! That’s pretty good for a coupon.
• Open up a high-yield online savings account! This is one of the SMARTEST moves you can make! Most banks these days only offer annual percentage yields under 1% on their savings accounts, unfortunately (actually the national average right now is only 0.54%). But, there’s an easy solution that not everyone has caught onto yet. If you’re willing to do your transactions online and go without a paper statement, a high-yield online savings account is the perfect solution. There are a lot of banks doing this, but here are some of the top APY rates. All of these are FDIC insured and have zero fees, zero minimum balances:
  • I use the EmigrantDirect American Dream Savings Account, which returns 5.05%
  • HSBC Direct offers 5.05%. Try entering the promo code “start” and see if it gets you an opening bonus…
  • E*Trade Complete Savings 5.05%
  • CitiBank Direct at 5.00%. You need to open an EZ online checking account along with the e-Savings to get the bank fees waived on this one.
  • I also have an ING Direct Orange Savings Account, which is now up to 4.50%. If you would like, I can send you a referral and you can earn $25 for opening an account with a minimum opening balance of $250 (hey, it’s good if you want a quick 10% return!) Just email me if you’re interested (see sidebar for email).

  It only takes 10 minutes to set one of these up (literally!). All you need is your personal info and your regular bank checking account info. And you’ll immediately be making 6 to 9 times the national savings average! It’s easy. Do it.

Finally, I recommend you always continue learning about financial stuff and keep up your financial intelligence. For something you can read daily, check out the master of all personal finance and entrepreneurship bloggers, Ramit Sethi, at IWillTeachYouToBeRich.com. Read his 5 Steps To Getting Rich first, and then he’ll lead you through budgeting, saving, investing, and retirement. Read my one-on-one interview with Ramit Sethi. Also check out J.D. Roth’s Get Rich Slowly.

Read the original article on Thrilling Heroics here: Six Simple Money Tips to Get You Back on the Financial Track

I’ve been working hard the past two weeks on getting an interview series together for Ramit Sethi’s site IWillTeachYouToBeRich.com. We are hosting interviews with authors and experts on women and personal finance/entrepreneurship, so it’s been very interesting so far. The series starts this week, so keep an eye on IWillTeachYouToBeRich.com for more info. Also, I will link to each story as they are published. (Ramit’s site is one of the most popular personal finance blogs on the internet. Pay close attention to the great quality of comments and discussion that arise from each of his posts.)

The panel will include:

• Michelle Goodman: Author of The Anti 9 to 5 Guide: Practical Career Advice for Women Who Think Outside the Cube
• Pamela Slim: Owner of Ganas Consulting and Author of the Escape from Cubicle Nation blog & podcast
• Alexandra Levit: Founder of Inspiration@Work career consultancy and Author of They Don’t Teach Corporate in College: A Twenty-Something’s Guide to the Business World
• Anya Kamenetz: Author of Generation Debt: How Our Future Was Sold Out for Student Loans, Bad Jobs, NoBenefits, and Tax Cuts for Rich Geezers–And How to Fight Back
• Julie Jansen: Speaker, Coach and Author of I Don’t Know What I Want, But I Know It’s Not This and You Want Me To Work With Who?
• Barbara Stanny: Speaker, Coach, and Author of Overcoming Underearning and Secrets of Six-Figure Women

Anyone else you guys would like to see interviewed? Let me know your suggestions.

I’m REALLY excited to get to work with Ramit and to learn from so many accomplished professional women. I’ll be busy for the next few weeks with these interviews, but it should be well worth it. Stay tuned for more…

Read the original article on Thrilling Heroics here: Interview Series with A Few Prestigious Female Authors

He won’t just teach you to be rich…he’ll also teach you the skills to get into college, get a great job, bargain for what you want, and so on. Ramit Sethi is one of my absolute favorite bloggers. He’s based out of Palo Alto, and is known for IWillTeachYouToBeRich.com. But aside from being a personal finance guru, Ramit is a graduate of Stanford University, he’s founded several companies such as his latest, PBwiki, he has two books coming out in the next year, and he’s just an all-around nice Silicon Valley guy.

Now, part of my own personal mission is to start interviewing people who are doing what I want to do, or people who are experts in their fields–in business, finance, environment, technology… So, here is the first of what I hope to be many.

Ramit was kind enough to sit down with me (outside on a freezing Sacramento morning no less!) for a cup of coffee on a recent trip home to visit his family. I am so grateful for the time and thoughtful answers he gave me! We had such an amazing discussion, but here are the highlights.

Ramit, how would you say your essential self differs from your social self? In other words, if you could be living your dream, independent of how others might perceive you for it, what would that look like? Do you identify yourself more as the IWillTeachYouToBeRich teacher, or as something else?

Actually I think I’m lucky enough to be able to do whatever I want right now, and I’m doing it! Some of that involves trying to build a great company with some other guys, some of that involves writing a great blog that’s completely my own, and I can say whatever I want–no editorial control or anything. I don’t think there’s much of a difference between what people see on my site versus my personality. What my readers see me talking about day-in and day-out though is personal finance and entrepreneurship, and really there’s a lot of other stuff that I’m interested in–I don’t talk about college recruitment, and I don’t talk about my travel that I do on a personal basis. And if there’s one thing my friends would say about me that’s a little different from what’s on the site is that maybe I’m a little bit louder, a little bit more vulgar in real life, but pretty much what you see is what you get. The biggest compliment people give me is that they say, “When I read that I can actually hear your voice!”

It’s hard to put me in a bucket though–like, personal finance over here, wiki over there, college recruiting over here. That may be a little confounding, but my general goal here is to find what I’m really interested in, get really good at it, and then turn around and teach other people. That’s what happened with personal finance, that’s what happened with the musical instrument I play–the tabla… Teaching it absolutely helps me learn it better, because people challenge me all the time when I’m teaching things. That to me is pretty exciting, because I can read all the blog posts and all the books, but there’s nothing like having somebody with an individual question I don’t know challenge me, so I really appreciate that.

What sort of background do you come from and how did your childhood influence the person you’ve become?

We’re sitting here right now in Sacramento–we’re about a five minute walk from my house. I grew up very middle class here, my parents were very modest. They were immigrants from India, and what they taught me were things like “just ask”–ask for a discount, or ask to get published, just write it up and send it in to the newspaper! They taught me the scrappiness of “just ask–there’s nothing wrong with asking”, and not to fear failure. I manage most of my life through my email, and I have a folder in my inbox called “failures.” And for me, I say if I’m not getting 4 or 5 failures in there a month, then I’m not trying hard enough. When I was in high school it would be like applying for scholarships, in college it was applying for grants or projects, now it’s applying for jobs, etc. Learning from your failures is like: what did you do wrong? And what could you do better?

What was your experience like studying at Stanford University? How do you apply what you learned about psychology and technology to the business world?

I loved it! I had a great time there. I did my undergrad and graduate work there. I studied technology and psychology. It was about the people. The way I prioritized my work was: number one was my friends, two was my own business stuff, then third comes my academics. I don’t know if parents will like hearing this, but if it came down to me working on an essay that was due next week or going out with my friends, I would almost always choose going out with my friends. I don’t know if that’s for everyone, but it worked great for me, because I spent all this time meeting all these different people that are now all over the country that I can visit anytime, and they taught me more than any book could teach.

I studied a lot of bargaining and persuasion, and combined that with technology. In general I think it helps me understand things like, “Why are my friends saying this or acting like this?” In business, what are the levers that would motivate people? I’ll give you an example: Some people are really, really motivated by money, and that’s okay–they’re open about it. Other people are more motivated by ego, while some people–a lot of engineers, for example–are motivated by a challenge, like “How difficult is this problem? How big is the impact?” So, it’s like, you figure out those motivational things, and you work with the person to get what they really want. If someone came to me and they offered me a lot of money, it probably wouldn’t be the most motivational thing, because money is not as important as other things to me right now. So, it’s really important to understand people’s motivation and then turn around and apply it.

What would you say are the most valuable lessons you learned from your education that have helped you become successful since?

I learned that being smart is not the most important thing–I’m a big proponent of that. There are people who are way smarter than I am; probably most of my friends are way smarter than I am. And that’s good if you want to, for example, get into law school. But for my path, being book smart is not the most important thing by any means; it’s about, “How do you get things done? With really limited resources?” If I wanted to write an e-book or start a website, I’m not too technical, so I would need to persuade people to help me, and I would need to create this passion in them. Or how would I go around the bureaucracy of a university and get what I want? That was the most important stuff I learned. For me, what I value more than anything when I’m hiring somebody, it’s not your GPA–I don’t give a damn! It’s “Show me some examples of where you’ve gotten something done.”

What experiences outside of your education would you say have been essential? What skills are there that you think business-minded individuals need that aren’t taught in school?

Number one is taking initiative. In school it’s so easy to get by if you do the papers, take the tests, and get an A or an A- or whatever. You’re done, you’re satisfied. And to me, that’s like the bare minimum. I would rather get the B or a B- in a class, and have done something really cool outside of class. So taking initiative to really find what you’re interested in, talking to the right people… Like you emailed me and here we are meeting up! That’s exactly what I’m talking about. I do that all the time. I did that in college, I do it all the time with CEOs or anybody I think is interesting. Take them out to lunch, take them out to coffee. They teach you something, maybe introduce you to their friends. And that’s the way that I’ve been fortunate enough to really come further than I thought I would have been able to.

What motivated you to start blogging?

When I was a sophomore–this was around 2002 in college–I came up with this idea called IWillTeachYouToBeRich, and I came up with the framework for a one-hour class, which I still use. And I went around to my friends telling them, “Hey you guys have got to take this class! In one hour, I will teach you how to be rich!” People would be so excited but they would never show up. I was so frustrated, so finally I thought I’d just start a blog, and I’ll just write–I’m gonna make it funny, I’m gonna make it how I really talk in real life, and I’m not going to make it really pedantic and boring like the old white men at Wells Fargo and Fidelity. There’s really cool stuff to be taught here; there’s so many lessons! And I can learn as I teach. So I did that, and for the first six months there were very few comments–like maybe one or two comments per post. And I just kept writing because I liked it. After six months I had all this that I had written; I was like, “I’m on a roll.” People started commenting, and maybe about 8 or 12 months into it there was some sort of click and a lot of people started commenting. In the background I was also doing a lot of marketing to spread the word. I was covered in the Wall Street Journal and a lot of people started coming to the blog, and then it really started building into a community.

College students and recent college grads are my core audience, that’s who I go after. But what’s interesting is that I have all these people I had no idea about. I have a very large group of 30-40 year olds, and I have high schoolers, and I have people who write me that are senior VP at a Fortune 100 company and they’re reading my blog! And it just happened because the word spread.

How significant do you think blogs and podcasts are as a new medium of communication?

I think they give everybody the ability to write something interesting about what they do, or communicate something interesting. I always say, everybody has an X-man ability… everybody’s got at least one thing that they’re amazing at—-they’re an X-man! Somebody’s got the piano, somebody’s an entrepreneur, someone may be a Westinghouse Scholarship winner, whatever it is. Everyone’s got something. If everybody just put their one thing, or their passion, on a blog or a podcast… I’ll tell you IWillTeachYouToBeRich was probably the best business decision I ever made. Now I have a huge reach, and I feel very fortunate about that. Business opportunities have come my way that I never would have found. The ability to start a blog–which you can do in like ten seconds–is great. It’s letting the really passionate people come out and spread the word.

What was your first company and what was it like founding and running your own business for the first time?

First one was right out of high school, called Scholastic Advising, which still operates with the involvement of my parents. When I was in high school I got so frustrated because so many people would say, “Oh I’m not going to apply to Stanford, because even if I got in, I couldn’t afford it.” This is exactly the wrong way to think about it. The right way to think about it is “I’m going to apply everywhere. I’m going to do a great application, and if I get in, then I’ll think about the money.” And usually what happens is if you’re good enough to get in, then they’ll take care of you. I saw a lot of kids doing this and it made me sad. My parents were very middle class and there were four kids in the family. They told us, “You guys have got to get scholarships, otherwise you can’t go to college.” So we did! And there’s no secret, it’s the same things I talk about: take the initiative, be patient, learn from your mistakes, that sort of stuff. So Scholastic Advising was an advisory company, a consulting company. We helped high school students get scholarships and financial aid, and with admissions. That was what we worked on, and it’s still continuing through my parents.

You’ve done some consulting with Omidyar Network and Storm Ventures. What has that taught you? And what do you think of the whole “web 2.0” phenomenon?

Pierre Omidyar was the founder of eBay. He’s very wealthy now and he wants to give back to improve the world. I was brought on to do some social psychology consulting. I would evaluate deals and make suggestions–”I think this is good, I think you should invest this much…” Similar thing for Storm and I’ve also done some consulting for a capital firm called Gemini. Mostly they want to get in and learn about this web 2.0 stuff and what young people are doing these days.

I think one thing a lot of young people don’t realize is that they are experts at what young people are doing! If you use instant messenger, Facebook, Myspace…you are an expert, and older people have no idea what’s going on! And that is a marketable opportunity. So, I turned that around and I marketed it, and they hired me as a consultant to teach them about blogs, social networks, photos, music sharing, all that stuff. A lot of companies are stuck in the past and they’re just buying big billboards, and they don’t understand young people don’t care about that anymore. We care about personalized recommendations, we care about what our friends say, we see it on Myspace and blogs and YouTube. And these older folks are struggling to understand that, so I think there’s a humongous opportunity for young people, if they’re smart and they package it right, to say “Here’s the things you need to know, here’s what I’m getting on a daily basis, and here’s the things you should be doing.” Older companies are paying a lot of money to have market research firms come in and instruct them, and I always just say why not get together a group of 5 or 10 people and just talk to them?

You’re also a co-founder and VP of Marketing for PBwiki. Tell us about PBwiki and where you hope it might lead you in the next few years?

It’s a scrappy startup that I love! We all co-founded this, there’s three of us, three Stanford grads. PBwiki means it’s as easy to make a wiki as it is to make a peanut butter sandwich. And a wiki is an easy-to-use website that lets a lot of people edit it together. You may have heard of Wikipedia; that’s a good example of using a wiki as an encyclopedia. So if you have a group project you might say “Hey Mike, you put the information about Thomas Jefferson, I’ll put the information about Susan B. Anthony.” Or if you’re taking a vacation, “You do the airfare, I’ll do the hotels, and we’ll put it all together and see what everyone has done.” And of course businesses are using it, educators are using it in the classroom… If you go to PBwiki.com it takes about ten seconds to set one up, we host it and manage it, and it’s free for you! And if you want to have more features or more space then you can pay us a small subscription fee. So we’ve hosted over 140,000 wikis in about a year, and it’s growing very quickly. We got offices a few months ago, which is a big step for us. And we just hired somebody else on, and have taken some funding. The goal here is: wikis for the masses. Most people still don’t know what a wiki is, and we want to share that, because if you’ve ever sent emails back and forth a hundred times editing this and that, why not just put it on the wiki where everyone can see the changes and everyone can go back in time to see past revisions?

You’ve co-authored a book on college recruiting coming out — Recruit or Die, scheduled for release July 5, 2007! And the big news is that you just signed your second book–this one to go along with your personal finance blog! What will be in your forthcoming IWillTeachYouToBeRich book that is unique from the online resources?

IWillTeachYouToBeRich, the book, won’t be coming out for a while. In fact, I’m just starting to write it. But if you’ve read my blog, you know that I have a no-nonsense style. I’m not about platitude, I’m not about being bought by any corporate interests, I’m just about telling people the best things to do. And I offer some different ways of thinking about things: for example one thing that I encourage some people to do is buy a new car instead of a used car. And that’s different than a lot of personal finance people, and I explain why. If you like my reasoning or not, at least you understand it. IWillTeachYouToBeRich the book will have a combination of personal finance and entrepreneurship, and you’ll be able to pick it up and finish it and say “Man, I know what to do tomorrow, I know what to do next week, and I know what to do for the next 30 years.” You can never finish learning, and I’m not saying this should be your only book, because of course it shouldn’t. But in terms of getting your strategy together and getting started, in the one or two hours it takes you to read it you will know exactly what you need to do. That’s the difference–I am very tactical. I could give you a lot of generalities like “start early” and “diversify,” but that doesn’t mean anything if you think “Shit! What bank account should I get?” Or, “What do I do with this debt?” I’ll be saying: here’s the steps, here’s what you do, and here’s what to look out for.

You’ll be able to see excerpts of the book on my site. And it’s not going to be just a book. I’ll be letting my readers contribute to it and actually add some of those stories to the book, and I’ll be asking people to actually help me shape the way the book looks, give me links, tell me what you think should be in this book. So it’s going to be a pretty collaborative effort. And there will be some fun stuff that I won’t announce yet, but stay tuned.

In your opinion, who are 4 of the most authoritative experts (other than yourself, of course) in the personal finance field today?

One I really admire is Suze Orman. I’m actually a big fan of hers. Some people are not a big fan of her style, but I don’t mind someone’s style so much if they have good things to say. Every time I watch her show I learn something. What I like about her is that she encourages people to manage their own finances. One of my core tenets is that almost everyone can manage their finances without a financial advisor. And she teaches you that you don’t want to be paying fees to these financial companies–you want to learn a little bit, and do it on your own.

Another guy I really admire is Jonathan Clemens at the Wall Street Journal. He’s saying “Think long term.” And a lot of young people are very stupid–they’ll say things like “I bought this stock and I sold it for a 20% profit.” And they don’t realize that–no they didn’t–they had to pay a huge amount in taxes on that, and they didn’t realize their gains as much as they could have, because if they just held it and read the research, long-term investing beats short-term almost every day of the week. He focuses on getting started, putting your money away and diversifying. It isn’t sexy, but there’s a difference between being sexy and being rich.

JLP at AllFinancialMatters is great. And J.D. Roth, who just started up a new blog called Get Rich Slowly, has just been around for a few months and he’s doing very well–he’s got great readership and great articles and it’s not a surprise. I think these guys are doing a phenomenal job. I think it’s interesting you have these experts like Suze Orman, but then you have just these regular guys doing everyday blogging, day-in and day-out.

To top this all off, do you have one financial tip you think everyone should know?

I don’t do that. It’s pretty sensationalistic to say I have one tip. IWillTeachYouToBeRich is a sensationalistic enough title! If you go to the site, you’ll be surprised because it’s not about any secrets. There are no secrets, but I’ll tell you a few things that I think work. You don’t have to be the smartest person in the room, you just have to get started early. And what I mean by that is you have to understand your financial accounts. You have to look at how much you are spending–most people don’t even do that!–and I will teach you to do that. And then you say “Alright I have one credit card; I need a few other sources of credit and I need to use them effectively.” And then you can get a free E*trade account and you can start trading a little bit and investing in index funds, which are a pretty good bet. And don’t be stupid! A lot of people just watch MSNBC and read CNN Money, which are some of the most hyped-up, unbelievable things, and they buy stocks that they read about in Smart Money. Big mistake! Because those magazines and those TV shows have to sell something. And I’m not out to sell anything, it’s just about picking something that you know and you love, and you use. Finally you need to learn to track these things, whether you use a pen and paper, or Excel. Tracking exactly what you’re making and what you’re spending is a way that you can get rich over a long period of time.

I have a very boring investment strategy: evaluate my diversification strategy, understand that I can take a lot of risk because I’m young, buy stocks or index funds and let it ride. If I think there’s a good value, buy some more. I’ve hardly ever sold. That’s not sexy, but at the end of the day the question is: do you want to be sexy or do you want to be rich? My basic message here is you don’t have to be the smartest person in the world, you just have to get started. And taking that first step will put you above 99% of other people your age. If you do start early and you are sensible, I think long-term you will be rich. That’s it, it’s as simple as that.

Well, again I want to thank Ramit Sethi so much for taking the time to meet with me and discuss his successes and experiences. If you’d like to learn more about Ramit and what he does, check out his blog IWillTeachYouToBeRich, his company PBwiki, and his upcoming book Recruit or Die. Students who’d like to learn more about personal finance can start with this article on Thrilling Heroics, Six Simple Money Tips to Get You Back on the Financial Track.

Read the original article on Thrilling Heroics here: Interview: Ramit Sethi of I Will Teach You To Be Rich

This is syndicated from a 2006 article I wrote for Prosper Magazine when I served as project leader on a student blogging project for the 2006 Perspectives conference in Sacramento, California.

Transforming the World, One Website at a Time

When Prosper Magazine asked me to take the lead on its student Perspectives blog event, I jumped at the chance to assemble a group of local students from UC Davis and Sac State to voice our opinions to the local community. The voice of the youth only transforms society very slowly, and is only taken seriously by some. But it is the voice of things to come.

So, when I was asked to step outside of my technical role, out of administrative duties and out of recruiting, and speak here about what issues I believe will shape the future of our country, I thought back to a recent incident when an acquaintance accused the students of my generation of being lazy and apathetic to our education and to the world around us. In a setting of “adults” who agreed with her, it was hard to argue my case. But now let me tell you how I believe we are slowly transforming society. And let this serve as both my answer to the question “What issue do I think will shape our future” and my answer to why you should pay attention to this student blog series.

I will begin my argument by admitting that our reliance on text chat, IMing, online dictionaries, calculators, SparkNotes, Napster, YouTube, MySpace, and other resources can indeed lead to some laziness, but my generation—the Gen-Yers or Millenials, as we are called—a generation which is currently becoming increasingly educated and entering the workforce—is not apathetic! My generation is simply utilizing technology and software to find new, and oftentimes more efficient, ways to solve the traditional problems that generations past have always had to solve.

I could tell you how the new millionaires are the 20- and 30-something programmers like Tom Anderson, Max Levchin, and Kevin Rose (see the recent issue of BusinessWeek). I could tell you how the internet is providing new ways for us to connect with each other through sites like MySpace, Facebook, and their business-oriented counterpart LinkedIn. I could tell you how I think we are slowly taking the corporate control out of consumerism with co-creation sites such as CafePress and Zazzle.com. I could talk about how blogs and podcasts are providing a new grassroots information outlet, and sites like Wikipedia, Digg.com and del.icio.us are empowering the everyman to have a say in which information, and which news issues, are most important—one of my personal favorites. But I will focus on three examples that are making real differences in the world.

There are many blogs I read every day. Several that are influencing the direction of the worldwide web—Daily Kos and Talking Points Memo for news and politics, Lifehacker for productivity solutions, and PFblog and I Will Teach You To Be Rich for finance and money matters. Ramit Sethi is the aggressive Stanford grad blogger who claims to be able to teach you to be rich. I find his mission to be the most interesting—because he combines his online presence with real-life financial seminars he gives (often for free), but mostly because he targets college students! Through stories of his own entrepreneurial experience, smart financial deals, and wise saving habits, he is undoubtedly transforming the lives of his readers.

To quote one of my favorite songs by Faithless, “Inaction is a weapon of mass destruction.” While some of my classmates may tend to be physically inactive, spending their days on MySpace or playing Halo 2, inactivity does not equal inaction. I run my own weblog to get the word out about current issues I think will have an impact on our lives, and like me, there are many individuals across the globe using the internet and other technologies to promote social change. The net has supported many large ground-up social campaigns like Million Voices For Darfur, a campaign to send one million postcards to President Bush to ask Congress to support more aid to the genocide-stricken region in Sudan, started by the Save Darfur Coalition, which has spread like wildfire across the web and inspired several student-run groups like STAND (Students Taking Action Now: Darfur), the Genocide Intervention Network, and Students Against Genocide.

Also in the business of changing the way society interacts, Kiva.org is a brand new service that I recently came across. Its mission is to provide a link between American capitalists and third-world working poor, harnessing a new concept called microfinance. In the words of the organization’s president, Premal Shah, the company aims to “allow individuals to make small loans to low-income entrepreneurs in the developing world. In this way, people like you can help provide affordable working capital for the world’s poor—money to buy a sewing machine, livestock, etc.—empowering them to start a business and earn their way out of poverty.” Amounts as little as $25 can make a significant difference for someone in the developing world. It is not an investment—more of a charitable contribution, with the goal not being financial return, just the repayment of the principal. But, by putting capabilities like this in the public arena like they never have been before, organizations like Kiva and Omidyar Network could truly reshape the landscape of international business and economics.

So, while many of us doze off, text message, play video games, or visit MySpace in class, remember that our methods of consumption, news aggregation, communication, and finance are slowly making an impact on the world—one which I hope will be positive as we slowly learn to take the reigns of society. The challenges that will face us in this endeavor are to make sure that the lines of communication stay as open as possible (see: Net Neutrality) and to make sure that truly cutting-edge ideas like the ones I’ve mentioned above get the proper amount of financial support (in the form of venture capital investment, charity, and philanthropy). And remember, as you read these student blogs, that you are witnessing the transformation in the way information is communicated.

Read the original article on Thrilling Heroics here: Transforming the World

I’ve been reading a lot of financial stuff lately, trying to figure out how to budget my money now that I’m actually making a real salary, and get out of debt and get into investments.

Ramit Sethi writes a great financial blog over at I Will Teach You to Be Rich, which is especially good for motivating young college students and grads to invest wisely. Here is an interesting post I came accross about how he sets up his financial accounts and how that helps him better track and organize his money. Here’s how I set up my financial accounts

I’m going to look further into these accounts with ING Direct and E*Trade and I will share the news if I find any cool deals…

Read the original article on Thrilling Heroics here: Ramit Sethi Shows You How to do Proper Budgeting