Equip yourself with an external governance mechanism

26 Jan 2023

We are in a society where anyone can become successful and wealthy if they work hard.

The benefits of the knowledge economy

Now that we are in a knowledge-based economy, knowledge is the most important resource and the most important skill for making money. The production materials for knowledge work and "job training" are already cheap enough to be picked up.

The production materials needed for knowledge work are too cheap, a computer plus a mobile phone is the biggest cost. You can work anywhere, no special office is needed.

The knowledge itself is all online, and most of it is free. You want to save time and pay for some classes, which is much cheaper than eating. You don't need a university or a laboratory to complete your knowledge job "onboarding training".

Think about the learning materials of the current practitioners of writing and video, and the books that current computer practitioners need are almost all free.

Now anyone has enough time to learn knowledge and skills.

Obstruction is just too lazy

What really hinders most of us from learning to become talents is that we are too lazy to succeed on the road to wealth.

In the past few years, I have not fully utilized my time and other resources. My average effective working hours will not exceed 6 hours per day. I'm still too lazy. I talked to many friends about this, and most of them are similar. They waste a lot of time and resources.

I read a lot of books on self-management and self-improvement, how to work effectively, learn effectively, and learn for life. But after a few years, I found that these cannot systematically transform myself.

This key issue is that the self-management practices that I have carried out for many years all come from within me. I practice myself, convince myself with reason, should work hard, should work hard; I use skills to induce myself to work hard and hard; I use tools to help myself work hard and hard.

The pressure from the outside is to earn money and care about the evaluation of others.

External governance

Everyone's life, work and study are more or less involved in external governance. Individuals looking for solutions to external governance

If an individual restrains himself according to some standards of a listed company, what exactly should he do?

Make a set of financial statements for yourself in accordance with accounting standards.

For example, now your balance sheet records that you have 1 million assets, and the owner's equity is entirely yours. Your income statement records that you earn an average of 1 million Dollar a year.

Issue an individual "stock"

Stock equity is distributed monthly or quarterly, with a 100% dividend. For example, if you earned 300,000 dollar in the first quarter, you would have to divide the 300,000 dollar in proportion to the stock. You own 95% of the shares and can get 285,000.

Set up a board of directors, you are the chairman of the board, and you must apply to the board of directors for all major events.

Hold regular shareholders' meetings, report your work and study results to shareholders, and report whether their stocks are more valuable. In particular, publish your financial statements to shareholders every month. The shareholders have the right to make various suggestions to you.

In order to avoid illegal activities, don’t sell your stocks blindly.

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