Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship pdfdrive com

THE COST OF LEGACY
Sleeping in and making money. $700 an hour. Regular checks for doing
nothing. Yes, the dreampreneurs are salivating. Sadly, creating legacy isn’t cheap.
And I’m not talking about dollars.
Legacy’s price is, ironically, your time. If you can’t say NO to what you want
today—an easy unlearned ride—you won’t be saying YES to what you want
tomorrow. The problem as it relates to the Commandment of Time is thinking
that time can be bought by not giving it time. You can’t spend three hours
writing a shitty book and expect to make oodles of passive income simply
because that shitty book exists in perpetuity. Trash survives time as does gold.
The only question is will someone want your creation? And tell others?
Don’t be afraid to spend oodles of time building your system.
The fundamental truth underscoring this entire book is 
we eventually want to
be paid BOTH time and money
.
“Eventually” is the operative word.
Many business ventures, especially those in service, require undivided
attention in the beginning. If you are creating a new organic-food restaurant
with franchising as the long-term vision, legacy benefits won’t vest for years until
the system is perfect. Like seeds, legacy value creation requires cultivating before
the seeds grow and sprout fruit. And when that fruit accumulates by the bushel,
it’s transferred into a money system.
Your objective in creating legacy value through a business system is an immediate
payment of MONEY, but an eventual payment of FREE TIME.
WHY SELL A GOLDEN GOOSE?
If you own a golden goose that lays golden eggs, that goose can only live for
so long before it must be replaced or rebirthed. Starve and neglect the goose
(while still enjoying its eggs) and the eggs will diminish over time. Ignore the
goose entirely and death comes early.
This scenario frames a common question I am asked: Why sell a company
that yields a monthly six-figure income that’s mostly passive? Why on earth

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would I do that? There are three reasons why, and all of them relate to the
Commandment of Time.
First, I judged the goose’s ability to lay future golden eggs and determined it
was a depreciating and expiring asset. In order to solve that future challenge, a
present challenge emerged: Put forth a huge time investment and additional
employees to create a rebirth. This would extend and re-ensure passivity for
another several years. Unfortunately, in the Internet space, technology moves so
fast that permanent passivity is a misnomer. If you sleep too long and ignore
your goose, competitors take over.
Unless you’re Craigslist, you can’t survive very long on shitty technology that
looks like it was birthed in the late nineties. In this case, I had to recommit, and
that commitment, whether it was learning new technology or managing new
employees, would cost my time.
Second, I was ten years into the business and my role of “entrepreneur”
withered away. In its place, I became a manager. Managing employees—or in the
case of executive management, managing the manager—was not something I
wanted any longer. I decided to change my identity to an author and a semi-
retired entrepreneur.
The third reason is probably the most profound as it relates to the
Commandment of Time: I wanted to upgrade a system that was semi-passive
and expiring to become one that was fully passive and permanent. I transformed
my Internet business system into a money system. Since my company had a
multimillion-dollar valuation and I already made (and saved) millions, I knew a
money system would allow 100 percent 
UNSCRIPTED
—never needing to work
another day in my life.
An UNSCRIPTED lifestyle should be challenged regularly. Whenever life gets routine
or mundane, it potentially signals it’s time for a new pursuit.

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CHAPTER 37
THE COMMANDMENT OF SCALE:
WIN LIFE & LIBERTY, NOT DINNER AND A MOVIE
Entrepreneurship is neither a science nor an art. It is a practice.