10 personal finance/entrepreneurship social media gurus and what their thesis is
These people are masters of self-promotion. Many have multiple lines of business and interests, but this list concerns their approach to personal finance and business advice.
Most of these people have legions of haters, but you can always learn something.
1. Grant Cardone: 10x
Grant is a showman who participated in a Discovery Channel reality show. He creates a lot of content about real estate investing and has active real estate investment portfolios that you can invest in. One of his central tenets about entrepreneurship is that you should think in terms of 10 times returns. His point is if you try to just double what you have you will be unlikely to get there because you will think about just hustling harder. In order to have a 10 times growth you have to do something different.
2. Tony Robins : index fund investing
Tony Robbins is a legend and has even played himself in movies. He recently wrote "Money: Master the Game" about personal finance, and he interviewed many people, from Ray Dalio to Warren Buffett. His overwhelming conclusion is that just about everybody would be better off investing early and often in index funds.
3. Robert Kiyosaki: cash flow quadrant
This is an important idea. The quadrants are employee, self-employed, business, owner, or investor. He points out that taxes are highest on the employees and lowest on investors (in the US). He also points out that assets give you money, and liabilities take money away. This flips the idea that your house is your most significant asset, and most of the time, Roberts's advice makes sense.
4. Ramit Sethi: Live your Rich Life
He also produced and starred in a Discovery Channel reality show. He has a few main ideas. One of them is to automate your finances and savings. The other point that he makes is that you should make plans to enjoy your money and spend it on things that matter to you. Spend some time thinking about whether you like nice clothes or fancy car or whatever your dreams are, and then figure out how to pursue them.
5. Codie Sanchez: buy boring businesses
She has a large presence on YouTube. She also has a PhD and used to work at Goldman Sachs. She is also sassy and profane. One of her main points is that there is an enormous opportunity at this time in history to buy businesses that make money from baby boomers who are retiring. She first started to get social media attention by buying laundromats.
6. Suze Orman: financial literacy
She writes a lot of books to give advice to regular people and explain the basics that really should be taught in school.
7. Dave Ramsay: Cut up and Freeze your Credit Cards
Hee advises cutting up as many credit cards as you can, and then keeping one literally in the freezer frozen in a block of ice. If you have a spending problem, it is one way to cure if you have to wait overnight to spend any money.
He has a radio show and has written many books.
8. Warren Buffett: put all your eggs in one basket, then watch the basket.
The Oracle of Omaha has been widely quoted and interviewed. He is full of folksy advice. Another one is his two rules of money: the first rule of money is not to lose any money. The second rule of money is to pay attention to rule #1.
9. Alex Hormozi: make good offers
He has a tremendous presence on YouTube. Gives very entertaining and informative presentations on business building.
His main point is that you should never try to compete on price because that is a race to the bottom and puts everyone out of business eventually. What he recommends is stacking benefits until you have an offer that is compelling and that you're only sending offers to your top prospects
10. Dr Benjamin Hardy: You can change your life at any time
He does an excellent job summarizing other peoples ideas and also presents some novel ideas about personal growth. He mostly gives mindset advice, but there’s a lot of crossover to investments and entrepreneurship. He wrote “10 is greater than 2X“ which basically summarizes the work of Grant Cardone.
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