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🚀 Living A Limitless Life Newsletter

Hey friend 👋,

Welcome to Living a Limitless Life!

Welcome to the 89 new legends who have joined the LALL newsletter since the last edition.

If you haven't subscribed, join 2,656 other brilliant people curious about Living A Limitless Life.

You'll improve your life & biz in 10 minutes by:

• The Three Best 1% Business & Self-Improvement Tips I've Found This Week:
  • People say you've changed.
  • Being normal = being average.
  • I don't want to be balanced.
• A 4-Minute Read That Could Change Your Life.
  • How I Made $216 Per Day In 2023 (And My Strange Strategy to Double It In 2024).
• Michael's Weekly Book Club
  • Elon Musk - Walter Isaacson

Today's Sponsor is... ME (I've got a new workbook to give you)

Here's a FREE copy of my short Workbook — The Hidden Secrets To Building A Five-Figure One-Person Business Alongside Your 9-5 Job 🔥 ​ Download it HERE

The question I am asking myself this week❓

How would the version of you five years from now judge your current life?

This week's quote that made me think 💬

The Three Best 1% Business & Self-Improvement Tips I've Found This Week:

• People say you've changed - Because they struggle to say you've grown. If you're committed to growing be prepared to be misunderstood and even disliked. Don't shy away from it. Embrace it. You're on the right track. Action: Lean into the discomfort of growth. The rewards are pretty great.

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• Being normal = being average. People want to be exceptional. But they don't want to take exceptional actions. I don't understand how you can think you can take average actions and expect exceptional results. Action: Take uncommon actions to achieve uncommon results.

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• I don't want to be balanced - Nothing is achieved through balance. Can you tell me any Olympian, musician, or high-achieving entrepreneur who is balanced? When I work, I want to be unbalanced. When I rest, I want to be unbalanced. When I meditate, I want to be unbalanced. Action: Do things unbalanced.

A 4-Minute Read That Could Change Your Life.

Read on: michaellim.co​

Read time: 4 minutes

How I Made $216 Per Day In 2023 (And My Strange Strategy to Double It In 2024).

The day I made my first $1 on the internet my life changed.

I had always wanted to make money online but never knew how or where to begin. I thought I had to do dropshipping, crypto or sell feet pics. I felt lost and grew more frustrated every day that I procrastinated.

One day, a friend told me about Medium, and I decided to try it.

I signed up for the Medium Partner Program in Feb 2020. I wrote my first few articles and made a total of $1.42 for the month. LOL.

No one was impressed.

But I was over the moon. Not for the sum of money but for the feeling I got. This is possible. The addiction began. Something inside of me woke up.

I thought to myself:

If I can make $1, what’s stopping me from making $100 or $1,000 online?

The answer? Only my skillset & beliefs. My brain broke.

Now my new one-person business is making $6,500(ish) per month alongside my full-time job, or roughly $216 per day. It’s crazy to think this is more than a full-time income for many Australians.

Again, this isn’t crazy Lambo money.

But that’s the point. It’s realistic, but still life-changing.

And here’s how I plan to double (or triple) it in 2024.

1: Don’t be everything to everyone.

Every day I get:

Medium unfollows Email unsubscribes This used to bother me a lot.

Now I am happy to get email unsubscribes. This means my welcome email sequence and messaging are working. The worst thing you can do is have a message and brand no one understands. Or worse, finds boring.

The flip side? I have fans who love everything I do.

My message resonates. They vibe with my worldview and perspective. They are eager to download my lead magnet and read my work. Once I got more targeted with my content, my followers grew.

The biggest lesson I learned is to become a unicorn to someone.

As Alex Hormozi advocates:

One problem. One channel. One customer avatar. Your unique mix of skills, experiences, and knowledge is something that someone out there is looking for.

You can be anything, but not everything.

2: Give everything away for free

You might be asking: How would that make you more money?

It’s a fair question.

But I operate under the mantra of: giving ideas away for free, selling the implementation.

I’m planning on creating 2–3 new lead magnets every quarter in 2024. Each lead magnet is a complete solution to one problem my audience faces.

For me, I don’t want to charge people to start their own one-person business. I only want to start charging at the point when they are making a certain amount of money from their business.

So, my lead magnet strategy is:

How to start a one-person business = free. How to make your first $1,000 - $5,000 per month = charged. Every resource to help people make $1 — $999 will likely be free.

If my free stuff helps people get to $999 per month, what’s the likelihood they will buy my paid low-to-mid ticket products? Very likely.

I’ve demonstrated I can help them get results with the time they invested in me. Now they are 10 times more likely to invest with their money.

People will pay with their time before they pay with their money.

3: Every form of communication is sales.

Every time you speak, you’re selling.

There is little communication that isn’t trying to persuade someone to see your worldview.

When you talk to your partner, you sell them on a life together. When you talk to your colleagues, you sell them an idea to work on. When you talk to customers and clients, you sell them your expertise. We can’t help but sell when we talk.

I had limiting beliefs when it came to sales. It’s taken me a long time to overcome them. But selling is service. It’s the ability to help someone with their problems and get them real results.

Learn to build something valuable. Then learn to sell effectively.

4: Reinvest every dollar into wealth-building skills

Making money is a skill.

Every dollar above my standard cost of living is reinvested into:

Books. Courses. Coaching. Community. Anything that will help me build the skillset or mindset to make more money.

Most people get trapped at a certain income because they ‘invest’ any additional income into lifestyle inflation or the latest fashion trend. They never learn how to make six figures or more.

Don’t let your money get lost in lifestyle inflation.

Invest in money-building skills and mindsets.

5: I’ve stopped selling by the hour

I’m investing in the productized service/agency model.

It’s where I provide a service for a fixed monthly retainer that I have the systems and processes to deliver efficiently at scale. There is still an element of time, but less so.

I want to detach my output from my input.

Any clients or customers who ask for hourly timesheets I don’t bother working with. They are too price-sensitive and will make my working life hell. It’s often the cheapest clients that are the most difficult.

I now sell transformation or outcomes.

I’ve got a recurring ghostwriting service for CEOs, entrepreneurs, and high-net-worth individuals. This is my high-ticket offer. From January to March 2024, I want to work on low-mid ticket offers.

These will likely be digital products I can create once and sell passively.

Lesson: You won’t get rich renting out your time.

6: I know that money is not what I really want.

I’ve already achieved the things I said would make me happy.

I’ve done things my younger self would be insanely proud of me for. Winning awards. Multiple six-figure income. Profitable one-person business. Building a house. Travel.

But once I got those things, I already was thinking about what’s next.

This isn’t bad. But just know that no amount of money will make you feel like you’ve ‘arrived’. Because there’s no real destination to arrive at. Life is an iterative game you play with people you love until you die.

So why try to make money at all?

Simple. It’s fun. I enjoy the process. The intellectual challenge. The learning curve. The slow incremental progress. The process of seeing a gap in the market and creating it.

I love the journey, the outcome is a bonus.

Pro tip: If you don’t enjoy it, don’t do it.

Here’s my road map for 2024: Become a unicorn to someone. Give everything away for free. Learn to build. And then learn to sell. Invest in wealth-building skills, mindsets, and knowledge. Charge by outcome, not hours worked. Understand that money is not the end goal. Steal them for yourself. Let’s get wealthy together.

Michael's Weekly Book Club 📚

My Book of the Week was...

Book #5 of the year is...

Elon Musk - Walter Isaacson

Elon Musk is a polarizing figure.

But whether you love him or hate him, there is no doubt he is changing the world. From launching rockets to the International Space Station to the transition to electric vehicles, revamping Twitter (or X) to boring tunnels, make solar energy sexy or chips in the brain.

He is doing more for society than any other person alive right now.

Rating: 9.5/10

You should read this if you're.... an entrepreneur or interested in interesting people.

Key ideas:

👉 Learning 1: Understand what game you're playing - Elon Musk is a relentless workaholic who can be a bully, jerk, and slave master. But when you're trying to build a car or rocket, you might have to be. But if you want to build a creator one-person business that funds your lifestyle, you don't have to be. Different games require different rules.

👉 Learning 2: Be a missionary, not a mercenary - Elon Musk marries a mission, then finds a business model to make it sustainable. Every business he has started began with a strong calling that would benefit society. Elon is drawn to a strong purpose that he can persuade investors and employees to literally go to space with him.

👉 Learning 3: Mental models: Elon deploys mental models to clarify his thinking. His two most common mental models are:

• The idiot index — calculates how much more costly a finished product is than the cost of its basic materials. If a product had a high idiot index, its costs could be reduced significantly by devising more efficient manufacturing techniques.
• The algorithm — is a five-step process of 1) questioning every requirement, 2) deleting any part or process you can, 3) Simplifying and organizing, 4) accelerating cycle time and 5) automating.

Best quotes by Walter Isaacson:

💬 "Elon starts with a mission and later finds a way to backfill in order to make it financially. That's what makes him a force of nature"

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💬 "I try to criticize the action, not the person. We all make mistakes. What matters is whether a person has a good feedback loop, can seek criticism from others, and can improve. Physics does not care about hurt feelings. It cares about whether you got the rocket right"

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💬 "Technology revolutions usually start with little fanfare. The Digital Revolution chugged away for many years in the background, with hobbyists cobbling together personal computers to show off at geeky gatherings such as the Homebrew Computer Club, before people noticed that the world was being fundamentally transformed."

How to apply these ideas:

💡 Deploy a sense of manic incrementalism - Business is about stacking the 1% improvements over time. Small changes lead to big improvements over a long period. A change in what you eat, how much you exercise, and more sleep each night will give you more of a performance boost than any ‘hack’ you can find. Big is sexy, but small is effective.

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💡 Understand what game you’re playing - I want to build businesses forever. But I don’t want to do what Elon is doing. I plan to build businesses that suit my lifestyle. I’m not trying to transition the world to electric vehicles or buy a social media company to defend free speech.

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💡 Be impatient with actions, break things, and learn. Try again - Most people I coach to start their personal brand or one-person business get stuck on starting. They always think to themselves: “One day”. They get stuck on what idea to pursue, what platform to use, or what will other people think about them.

You can buy the book ​HERE​ (No, this isn't an affiliate link...yet).

Writing Tip Of The Week:

I'll see you next week!

Michael ✌️

P.S - You can also find me here:

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113 Cherry St, Seattle, WA 92768
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