Mental Millionaire
Mental Millionaire

Mental Millionaire

Quick Summary

There are two invisible problems of knowledge work that we often don't even think about as problems:

  1. Underutilization of our knowledge. We spend all of this time building up our knowledge and end up using a very small percentage.
  2. Demonetization of knowledge. We are used to not valuing learning and not being paid for it. That means that if we want to earn from our knowledge we have to spend most of our time monetizing it.

There is huge money being made in the knowledge economy but most of it is going to platforms rather than creators. However, today, blockchain technology and Web 3.0 are setting a foundation to rethink how we make money.

From a mental model perspective, these shifts force you to change your models and evolve them. Here’s an overview of what’s new and should be incorporated into your current models:

  1. Web 3.0
  2. Monetizing communities (DAOs)
  3. NFTs (digital property rights)
  4. Monetizing individuals (social tokens)
  5. Subscriptions
  6. People paying for knowledge
  7. Digitization
  8. New Cultural Values
  9. Mass Ownership

Starting with the new Mental Millionaire model requires you to:

  1. Apply the Hockey Stick Rule to assess new opportunities,
  2. Determine where you want to explore first,
  3. Understand the landscape,
  4. Align yourself with the future.

Even though it feels overwhelming when you first get into it, my opinion is that it’s better to feel the overwhelm now and be ahead of the game than to feel much more overwhelmed later and have years, or at least months, of learning just to keep up with where everyone else is.

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Navigate Mental Models For Monetizing Knowledge