The Last Safe Investment by Bryan Franklin and Michael Ellsberg -Book Review
Easily one my favorite reads ever. The Last Safe Investment really opened my eyes to things I would have never thought of.
When I was in college I wanted to start a business so bad, that I did literally anything if it made money. Taking a minute to think about what kind of businesses I wanted to start based off what I was good at doing never crossed my mind.
We have skills that we naturally tend to gravitate towards. There are skills that we learn as a byproduct of jobs we had or from having struggled in our past. This book helps point out that investing in ourselves can lead to:
Landing higher level roles in companies
Creating valuable relationships
Discovering a hidden skill
Starting a business.
Investing in yourself in the fastest way to create opportunities for yourself that can have a larger return on investment than traditional methods of investing. It was so much fun reading The Last Safe Investment and putting into action the things they recommend. For me, at least, the lessons in the book have led to me living more abundantly!
The Last Safe Investment recommends investing in yourself and spending your money wisely.
Have you ever heard of a little term known as systematic spending? It should serve as your guideline when it comes to parting with that leafy green presidential parchment.
This basically keeps you on the right track and averts you from any frivolous indulgences.
The principle of systematic spending is very, very simple: If you’re funneling your funds into things that will contribute to your own self-development, you can invest however you wish.
Life experiences are often a safe bet for spending.
Through lessons learned, they equip you with skills, and skills then equip you for life.
After all, isn’t that how everyone grows and accrues knowledge, savvy, and overall value?
This value isn’t just for you, either.
It bleeds into the lives of everyone around you, whether you like it or not.
The authors don’t hold back in offering valuable pieces of advice, like systematic spending, learning super skills, developing advisory equity, and building a tribe.
There are enough examples in the book to make this an actionable read.
If you’re interested personal development, or in providing more value to the world, but not sure where to focus their efforts exactly.
What is a Super Skill?
The Last Safe Investment defines a super skill as a skill that can generate a return on investment at some point in your life.
Improving in these areas will create a systematic improvement in all the areas of your professional and personal life.
Investing in yourself will enable others around you to invest in you. It will increase your value as a worker or entrepreneur because you’re taking charge of your self-improvement.
Interpersonal Super Skills
You know, talking with folks, developing lasting and positive relationships, being able to lighten the mood or slice through the tension of an awkward situation.
Customer service is a part of it, but you should also remember that networking and even general friendliness and etiquette fall under this umbrella.
What are the interpersonal super skills?
• Leadership and influence
• Public speaking
It’s not always about the sale itself. In fact, it very rarely is.
This is what so many talented and potential-filled wantrepreneurs unfortunately overlook. Social skills normally do all the heavy lifting for you.
Anything from commanding a crowd to having a grounded, honest conversation with a consumer requires that gentle touch of genuine care, tact, and respect.
Creative Super Skills
Say that, for example, you’re a terrible painter. Not trying to beat you up, that’s just the way it is.
Have you ever thought that it very well could just be because you don’t know the first thing about the art form?
A few basic classes that cover the fundamentals might save you from those all-too-frequent trips to the shredder. Awaken that sleeping creative genius inside of you!
What are the creative super skills?
• Writing / copywriting
It’s all about bringing ideas to life. You are an originality hub, and the sooner you develop the ability to tap into that, the better.
You would be surprised to discover just how much latent value you have rolling around in the imagination corner of that noggin.
Keep working on your craft until what comes out sounds like what was in your head. Read books and websites that you disagree with. Read books that infuriate you.
Physical Super Skills
Okay, the phrase “physical super skills” makes it sound like you’re going to be bench-pressing buses and jumping over buildings like Superman, but that isn’t the case.
Extending your productive work life can bring greater returns than a 401k (ex: 3 to 5 extra years at $100k)
Your body is an essential part of your business venture, but you should also consider your immediate surroundings an extension of you.
Focusing on these skills might seem vain but it’s not. You are the most important thing in your life. If you aren’t healthy, disciplined, and organized how can other people depend on you. You must be able to take care of yourself before you can take care of anyone else.
Rest and getting a massage might sound like things you don’t need but if it means that you are mentally sharp the whole week is it not worth it?
What are the physical super skills?
• Extending physical productive work life
• Taking care of your body/mind
• Increasing mental clarity
• Maintaining a neat appearance
• Organizing your work environment
This one is pretty straightforward.
People need help in their daily lives and mastering a physical super skill can create immense value in someone else’s life as well as yours.
Take care of them and they take care of you.
Technical Super Skill
Do you even know how to think?
That might sound like a jab, but it’s an honest question.
Can you dial in thoughts and produce fruit from the gears turning inside of that skull?
The ability to learn something and create a mental model to effectively do a task is extremely valuable. Mastering this skill enables you to work across any industry and rise as high as your imagination allows.
The ability to take something you’ve never heard of or have any experience with and become sufficient in it is a very valuable skill.
Your brain is your ultimate asset. Imagine it as a business partner that will never leave your side. Investing in how this sucker breaks things down is definitely a good move.
**RED ALERT** This category has the highest ROI (return on investment – do your homework, you should know this one by now).
Marketing Crank – The most profitable technical super skill
The ability to turn people who don’t know about you into your customers is a skill that people would pay a lot of money for.
Business are confused when it comes to things like this. People are always working in their businesses and never on their business so they never establish an automated system to generate leads and sales.
Marketing cranks output as much as you put into them. So, if you spend $1000 on a marketing campaign you should be making at least $1001 in return. Word-of-mouth isn’t a marketing crank.
This skill is highly sought after and the people that master this become the highest paid people in any company.
The web is a fascinating place that is teeming with outlets and information banks that are just waiting to be tapped by YOU.
Do some research, take some classes, connect with some people who know what they’re doing, and keep checking back in with us. We’ll hook you up with the essential nuggets.
The Last Safe Investment gets into the nitty-gritty with you, making it well worth your time and money.
Your end goal here, and in many situations, is to grow and accrue value. Aim high and keep at it. You are worth more and more every day.
With these skills and the right mindset, no investor, customer, employer, or in-law will be able to deny your inherent value.