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Streams of Income vs. Just Getting Some Cash

On SEBASTIAN MARSHALL

Was having lunch today with a friend of mine who is a fantastically entrepreneurial, smart, skilled, massively hard-working, and has done some amazing things in his life.

But lately, his cash has dried up.

We talked about it, and it turns out he's doing something mentally that I did quite a lot in the past -- often to my detriment.

I was focused on doing "very high value activities" -- by some abstract standard of my own -- and often neglected to get what seemed like small amounts of cash.

My friend is doing the same thing. He's looking for "streams of income"; not "just getting some cash."

The Building Mindset

On Tynan

I remember reading about the famous marshmallow study, the one where they see if kids can delay gratification or not. Reading about it really haunted me, because a psychologist came to my school in third grade and did a similar experiment on us students. We could have an unspecified "big prize" later, or a small prize immediately. I walked away with silly putty.

As you probably know, the people who delay gratification are more successful, happier, etc. When I found this out, I became determined to be a gratification delayer.

I love thinking about these dichotomies-- you're either X or Y, and if you're Y... maybe you'd better start becoming an X.

A related one that I think is really practical is the split between builders and allocators. I'm not sure those are the exact best words, but I've always been bad at coming up with catchy terms for these things.

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