Ep. 177 – Ramit Sethi: What Happens When You Make $50,000 In One Month?

ramit sethi interview

I try noticing when I’m having a hard time. And if I want to ask why.

If I ask, “Why do I feel like this?” my thoughts seep further into my brain. And I can’t find them. “Where are you going? And why do I feel like this?”

But “why” isn’t the answer.

“You are not your feelings.” I’ve heard this before. It’s helpful to have a degree of separation.

Negative pressures take away momentum. It makes me lazy. And hungry.

I don’t think I’m ever really hungry. I’m just looking for a human excuse to get away from responsibility.

But sometimes you have to admit where you really are.

I don’t have advice for you. I have something better.

I have Ramit Sethi, author of the New York Times bestseller, “I Will Teach You to Be Rich” and owner of iwillteachyoutoberich.com and growthlab.com. He’s been on my podcast before. Every time he’s on, people want to know this one thing:

“HOW can I live a rich life?”

I told Ramit, “The person listening to this doesn’t want to hear that it’s possible to get rich. Because that’s what everybody says. I want to hear specific tactics.”

And he’s giving them all away. (Get a sneak peak here…)

“There’s story after story after story of people who have taken your courses and made money…” I said.

“Not just made money. Yes. Of course, they made money. That’s the least interesting part. A guy gets a $50,000 raise. That happens every day using my stuff.”

“Tell me a story of someone who’s made $50,000 in one month.” (Listen at [19:45])

I don’t believe 99% of the advice about entrepreneurship. Because that advice is what gets you out of your heart and into your head. It makes you lost. Because you try to sell out. You try to win. You try to get rich. And you stop giving.

So Ramit and I talked about a rich life. What is it?

We came up with this: I can’t tell you what a rich life is to you. I can only say what a rich life is to me.

My “rich” life consists of four things.

You just need to find what you’re OK at. Because if you are OK at one thing and OK at another thing then you can be the best in the world at the intersection.

But I’m getting ahead of myself. And that’s how people fail. They focus on the wrong things, get lost, give up and never start again.

They’re at negative zero.

Everyone wants to be at 100. But that’s impossible. And wanting to be anywhere other than where you are right now is painful.

Start by acknowledging where you are. And know that’s the only true thing about this moment.

Then you’re out of the negative. And you have a starting place: you’re at zero.

It’s where Mark Cuban, Arianna Huffington, every millionaire, billionaire, writer, rapper, author, athlete, and astronaut starts.

It’s where you’ll start, too. And you can start right now. Just follow these two steps:

  1. Acknowledge where you are
  2. Trust that it’s the start

And then you can launch a rich life. Whatever that means to you.
Listen to my interview with Ramit Sethi to stop asking “why” and start asking “how?”

Resource and Links:

What you’ll learn from today’s podcast:

  • [6:58] – Who should everyone be an entrepreneur?
  • [9:12] – How do you decide what a “rich” life is to you?
  • [19:43] – Make $50,000 in one month with a simple site
  • [25:03] – How to attract the right audience/customer
  • [34:00] – Get better than anyone else in your space
  • [43:30] – How to test your idea… before it “tanks”
  • [54:40] – Two marketing myths you need to know
  • [58:58] – If you want to quit your job (and start your own business)… do this step first
  • He kind of provided a cop out about the “But you’re becoming rich, by teaching people how to be rich” question.

  • James, I could not finish this episode. This guy is so full of $h!t I just could not take it. If offends my intelligence.

    • Ejaz Mohammed

      You must be a quantum physicist. For laymen like myself, Ramit tends to get the job done.

  • Jens Kameke

    I know that Ramit has excellent sales mechanisms in place. I read it everywhere this weeks. It bores me every time. I’m sick of 29 mails in a mailing sequence subtly talking me into stuff. This attempts to hard sell me everything from razorss to other ppls 2000$ courses imho downs the quality of your newsletter content tremendously. I subscribed because I much liked the spirit of you describing how to get out of life’s dents and the 1000 clever approaches to save & make money in an uncoformed fashion. But now it came down to you selling your newsletter audience for some bucks to advert other ppls products or trade promo for your own next stuff. I somehow feel not right here anymore, but the crazy thing is: when I listen to your podcasts, I hear a different James. There is a gap between the real life podcast James and the “why not use my subscriber list to make some profit” James. Don’t get me wrong, if the next secret thing is announced I might get on, but Razors from the third spinoff that tries to battle Gillette or Ramits Courses, already known by half a million readers, that’s poor. BTW: I really would like to get on the sumo special you did, but I can’t because you do not support PayPal on the checkout. I also think the long form sales page is way too long. Even convinced and willing ppl just can’t get to your c2a’s. Drop in more CTA’s James! Sell! Make money! You deserve it more than anyone! But leave me with “I stitch together some text templates and in the bottom part I try to hardshell a bit” type of posts. Big thanks for all your effort and greetings, Jens

    • aikay77

      Hi Jens,

      It’s called MARKETING.

      there’s absolutely no need getting upset because James is selling stuff to his list. Like you’re even upset he’s selling his own products.

      I like that he sells razors. I like that he sells Ramit’s courses. He mixes and matches offers that his list will love. It opens us up to what other businesses are selling and this provides insight on what others are doing that we could borrow ideas from.

      Please chill out, and even better, if you don’t like his selling, opt out of the list.

      • Jens Kameke

        Hey aikay77, good to hear that your dad loved the razor – I have had no doubt that it is a good product (seriously). Did you buy it from the first, the second or the third time James mentioned it? Personally, I just don’t like boredom that much and I won’t call it marketing either. I understand the inspirational part of what you like about the newsletters. Same here. But sometimes I feel it’s not inspirational any more because it’s the same I hear everywhere, or some almost predictable cookie cutter content blocks ending with a sales pitch. I’m not upset at all, I just thought this comment might be worth more, when I express what I feel instead of what would be nice to say. And don’t get me wrong here, I love the man and his work, he’s one of the best. If he would offer PayPal I would have bought more from him directly, but for now, I’m bound to Amazon.

        By the way, this was his community managers/customer relations/helpdesk/text template stitchers answer to my first post: “Hi Jen, We’re glad to hear that James’s message has been helpful to you. It’s extremely rewarding for him to continue providing the best content for you.” Yes, thank you. Very rewarding indeed :-)

        • aikay77

          I got you now Bro.

          Blessings.

    • Ryan Finlay

      You guys should just ask James for your money back for the all the money you’ve given him for his blog posts that you’ve consumed over the years…

      • Jens Kameke

        Haha, yes maybe you’re right. Maybe I should just shut up and let it go it’s way. Mustn’t we be so thankful for this, that it is almost shameless to critique contents?

        After all, this is only a comment on a page of hundreds of James Website and expresses the voice of only one member of the community of tens of thousands. So much for relevance of either of our comments from James perspective.

        My point was not selling over the list is bad (only to cover a sales pitch with some random story that I found told badly, and/or coming up with the same things over and over again).

        Suggestion: I’d rather like to see an additional weekly “My top twenty products/ acquisitions / tips” of the week type of newsletter post. Thrown in everything, with affiliate linking and all, this would be a better read for me I think (don’t forget to support PayPal). All readers would know what they’d get, no intro story needed and very interesting to learn about the man (esp. while on the minimalistic/ no belongings tip focusing on events and experiences rather than possessions). Because James is such an interesting nonconformist character, this would be very different from all the other top ten lists and he would not have to compromise on other contents quality.

        This would definitely be my read of the week and catch my interest every time when in my inbox.

        And I promise this is my last comment here ever ;-)

  • Maru

    I think it speaks to the quality of your readers that they see through this kind of BS and call you on it.

  • And one of the longest long-copy pages I’ve ever seen. I bounced after a fraction of the way down the page. Meh.

  • Govt Entrance

    Hey, Please help me anyone. Can anyone suggest me whether i Could buy Ramit Sethi–Plan to use in India. As i has seen most of testimonial from non-Indians.Please help

  • James Buechler

    That’s weird, where’d the podcast go? I don’t show it.

  • Michael

    W@hy are online wealth gurus all such assholes?