August 17, 2016

Imagine heading out for a day’s work and returning with a gem that stuns fishermen across the nation? That’s exactly what happened to Wayne Nickerson, a commercial lobsterman from Massachusetts, when he caught a very rare lobster this week. A two-pound blue lobster to be exact. If you’ve watched the show Deadliest Catch, then you’ve seen the story of ship captains that make a living catching Alaskan snow crabs. I found this story and wanted to share it. The odds of finding a blue lobster is one for every two million. Blue lobsters are actually edible and have their discoloration because of a genetic mutation. They’ve been priced as high as $500 on eBay, although that listing failed to attract a single bid, so it’s safe to say the worth of blue lobsters is debatable. Lobster experts also find it difficult to put a price tag on this beautiful creature (“There is no monetary value,” Dr. Robert Bayer, executive director of the Lobster Institute at the University of Maine, told us.) When restaurant Per Se featured its blue lobster and wagyu menu, it was priced at $560. For about that same amount, you can also buy a pair of rare Nike “Blue Lobster” sneakers. Value is in the eye of the beholder, and sometimes value is transferred by belief. “The kingdom of heaven is like treasure hidden in a field. When a man found it, he hid it again, and then in his joy went and sold all he had and bought that field. (Matthew 13:44 NIV). When you find something truly valuable make sure you protect it, and pass it on to the next generation.

The only way to get rich rapidly is to understand the principle of leverage.

Financial leverage works this way: You spot widgets for sale in bulk for only a dollar. You know where you can sell them for two dollars. You’ve got a hundred dollars, so you buy a hundred and make back $200, clearing $100. If you had borrowed $100 from your banker, paying back $110, you could’ve bought two hundred and cleared $190 for your total outlay of $100 plus $110 in loan and interest, quite a bit better return for your effort and putting your $100 at risk. Often when I look at leverage I’m looking at it from a lending aspect, however you can also leverage your time as well. If you operate as a single small business owner, you can only do a certain number of jobs per day because there’s only 24 hours in a day. If you properly create a system that duplicates and automates your service, then you can have employees do multiple jobs for you and triple your bottom line. When you can leverage your time and your money and then put your money to work, you are on the road to riches. Ask yourself daily how can I do the best for the most number of people and set out to achieve it. When your reason or why is strong enough it will create a spirit that is determined to accomplish the goal. Faith is a very important and necessary to accomplish anything in life.

When Taavet Hinrikus moved in 2007 from Estonia to London as an employee of Skype, his paychecks didn’t come with him: He still got paid in euros, via an Estonian bank account. Every month, Hinrikus had to wire money to himself in Britain, and each time he felt ripped off—by expensive and arbitrary fees and by an infuriating exchange rate. In 2010 Transferwise was formed by Taavet Hinrikus and Kristo Klaarmann as a way of transferring money across international borders. Customers who want to send money across borders are promised the “mid-market rate,” or what banks themselves pay when trading a given pair of currencies. When possible, TransferWise’s software pairs customers who are making equal and opposite transactions, a so-called peer to peer match. It’s like Hinrikus and Käärmann’s original swap, but it’s invisible and at bigger scale. Originally this company was targeting the consumer, but as of this article Transferwise is marketing to small and medium sized businesses that need to pay for things in foreign or pay staff that are working overseas. Even though TransferWise is innovative, it is a company that should be observed carefully. TransferWise isn’t profitable—it lost £11.5 million in the 12 months through March 2015, the latest period for which figures are available. But the same is true for many fast-growing startups, and sniping over perceived inventiveness could say more about jealous rivals and today’s tightening venture capital environment than anything else. The concept of this company is to not charge outrageous fees to allow people to have access to their money if they have to exchange it to a foreign currency. It’s the idea of how can I impact a large number of people for the greater good. Everyone has a Big Idea…a millionaire dollar innovative idea. The question is not the product, but the market. If you have a life changing idea, I suggest you keep your day job and build your business part time. But before you even begin to build your business, make sure you have your finances in order and have a budget in place. Getting a financial checkup is the first step to knowing your financial condition.

If you have a prayer request, or if you’re in need of a financial checkup you can reach me in the contact me section.

For this week, I’ve included an animated book review of the 4-Hour Workweek by Tim Ferriss from the FightMediocrity Youtube channel.

“But those who want the best for me, Let them have the last word—a glad shout!— and say, over and over and over, ” GOD is great—everything works together for good for his servant.” I’ll tell the world how great and good you are, I’ll shout Hallelujah all day, every day.”

Psalm 35:27-28 MSG


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