✏️ ON MY MIND

Naval Ravikant is an entrepreneur, investor, and thought leader in the technology and startup space.

He was the founder of AngelList, a platform for startups to raise capital, and has made early-stage investments in numerous successful companies.

Naval’s perspectives on wealth, happiness, and success have gained him a significant following and influence. They’ve also shaped much of my thinking over the past few years.

Here are six principles that Naval has spoken about for building true wealth. Hopefully, you’ll find something here that’s useful.

1/ Understand that the world is Non-linear 🌎

Embrace the unpredictable nature of life and career paths, as success often follows nonlinear trajectories.

“Earn with your mind, not your time.” — @naval

— VV (@visualizevalue)
Feb 20, 2021

The world of work isn’t linear :

8 hours of work does not equate to the same output for every single person

Your output is based on the quality of work you put in

@naval

— Deepak Jose (@DeJayOfficial)
Jun 15, 2019

2/ Quality of work beats hard work 💪

Focus on delivering exceptional value and high-quality results rather than simply putting in long hours.

“Time spent has nothing to do with job done.”

@naval

— Navalism (@NavalismHQ)
Aug 4, 2023

3/ Work like a lion 🦁 / athlete

Train hard ➡️ Sprint ➡️ Rest ➡️ Assess ➡️ Repeat.

We are built to work more like a lion or athlete than a machine that can work 8 – 12 hrs straight.

Adopt a balanced approach to work, combining intense effort, rest periods, self-assessment, and continuous improvement.

Want to make progress 10x faster?

Work like a LION not a COW – @naval

LION:
– stores energy
– waits to attack
– SPRINTS
– eats
– rests & repeats

Explosive energy focused on 1 big task or goal

Progress is fast, exponential

COW:
– Grazes from task to task
– Same thing… httptwitter.com/i/web/status/1…p

— Hunter Hammonds (@_hunterhammonds)
Jun 19, 2023

4/ Own a piece of a business 🏢💼

Invest in your future by acquiring ownership or equity in a business, creating opportunities for long-term financial growth.

You’re not going to get rich renting out your time. You must own equity – a piece of a business – to gain your financial freedom.

— Naval (@naval)
May 31, 2018

5/ Work for you by leveraging tech & the gig economy. 🚀💼

We are living in the information revolution.

Utilize technology and the gig economy to your advantage, creating flexible income streams and gaining control over your work.

Learn to sell. Learn to build. If you can do both, you will be unstoppable.

— Naval (@naval)
May 31, 2018

6/ Freedom is the real measure of wealth 🏝️💰

“If somebody can tell you when to be at work, what to wear & how to behave, then you’re not free”

True wealth lies in the freedom to make choices and live on your terms, free from restrictive norms and schedules.

“People who live far below their means enjoy a freedom that people busy upgrading their lifestyles can’t fathom.”

@naval

— Navalism (@NavalismHQ)
Aug 8, 2023

Apply these principles to unleash your true potential.

Which of these principles resonate most with you?

(This newsletter was generated with the help of GPT-4 and edited by yours truly.)

🔨🧰 MARKETING TIP

Double Opt-In vs. Single Opt-In: Which Is Better for Conversions?

When it comes to building your email subscriber list, one of the crucial decisions you need to make is whether to use a double opt-in or single opt-in process. These two methods determine how subscribers join your list and can significantly impact your email marketing success.

Let’s look at the pros and cons of each approach.

Single Opt-In: The Quick Entry

Single opt-in is the simpler of the two methods. It allows users to subscribe to your email list with just one step. When users enter their email address into your signup form and hit the submit button, they are instantly added to your list. This approach streamlines the process and encourages a larger number of sign-ups.

Pros:

Quick and easy for subscribers, which can lead to a higher number of sign-ups.

Lower friction, as users only need to provide their email address.

Immediate access to your content or offers.

Cons:

Prone to fake or mistyped email addresses, which can impact your deliverability rates.

Higher chances of spam complaints due to users forgetting they subscribed.

Double Opt-In: The Confirmation Step

Double opt-in, on the other hand, involves an additional step. After a user submits their email address through your signup form, they receive a confirmation email. This email contains a link that the user must click to confirm their subscription. This extra confirmation step ensures that the subscriber genuinely wants to join your list.

Pros:

Higher quality list with engaged subscribers who confirm their interest.

Lower chances of fake or mistyped email addresses.

Reduced risk of spam complaints, as subscribers have explicitly confirmed their interest.

Ensures legal compliance by obtaining explicit consent from subscribers and adhering to email marketing regulations like GDPR and CAN-SPAM.

Cons:

Slightly lower initial conversion rate due to the extra step.

Some users might miss the confirmation email, leading to incomplete subscriptions.

So, Which Is Better for Conversions?

The question of whether double opt-in or single opt-in is better for conversions depends on your goals and preferences.

Single opt-in can quickly grow your list, but it might result in a lower quality of subscribers due to the lack of confirmation.

On the other hand, double opt-in might have a slightly lower initial conversion rate, but the quality of subscribers is usually higher, leading to better engagement and deliverability rates.

Double opt-in is recommended if your main goal is to build a highly engaged and responsive email list.

The extra step might deter some users, but those who complete it are more likely to be genuinely interested in your content or offers.

Want a cool way to get more subscribers to complete their double opt-in? Try the following…

Finding that a good % of new newsletter subscribers aren’t completing your double opt-in?

Try this clever move:
Give them a cool incentive to check their inbox right after opting in.

Case study:
Superhuman announces a surprise bonus gift on the opt-in confirmation page.

— Anfernee Chansamooth (@anferneec)
Jul 28, 2023

In the end, the choice between double opt-in and single opt-in comes down to the balance between quantity and quality. Consider your target audience, email marketing strategy, and long-term goals when making this decision.

Whichever method you choose, always focus on providing value to your subscribers to keep them engaged and interested in your emails.

👍 3 THINGS THAT CAUGHT MY ATTENTION

1/ Read: I’ve Written 100+ Articles on the Buffer Blog: Here’s A Look At My Process

Tamilore Oladipo, Content Writer @ Buffer, documented some background about her time at Buffer, her writing process, and advice for current and aspiring content writers.

I really appreciate and relate to the section on challenges as a writer. Tamilore gives us a transparent look at what many writers go through psychologically behind the scenes.

2/ Watch:

3/ Watch: Traveling to the Angriest Country in the World

This video will give you hope for humanity and maybe even inspire you to travel more. (That’s the impact it’s had on me after watching it)

💸 WEALTH BUILDING TIP

How to Get Rich (without getting lucky):

— Naval (@naval)
May 31, 2018

🐦 COOL SOCIALS THIS WEEK

I’ve implemented @nathanbarry‘s content flywheel and it’s crushing.

Upload new “public” coaching call 👉 Pin comment where creators can book their own 👉 Stripe booking notifications roll in shortly after publishing 👉 New content on auto pilot 🤩

— Justin Moore | Sponsorship Coach (@justinmooretfam)
Jul 18, 2023

🔧 TOOL OF THE WEEK

AudioPen

With AudioPen, you can finally think out loud and let your thoughts flow freely. ✍️✨

This app utilizes AI technology to convert your voice notes into beautifully summarized text, eliminating all the filler words, repeated sentences, and pesky ‘umms’. 🚀🗣️

It can effortlessly capture the essence of your ideas and condense them into clear and concise text. It’ll make your note-taking process a breeze! 🌟

Here are four use cases I can think of for this:

Meeting Notes: Capture and convert meeting discussions into concise, shareable text.

Research: Record interviews or gather data and transform them into written form for analysis and reference.

Content Creation: Speak your ideas aloud and have them converted into text.

Ad Hoc Ideas/Brainstorming/Inspiration: Quickly capture and transcribe spontaneous ideas, brainstorming sessions, or moments of inspiration, allowing you to revisit and develop them further. You can even use Zapier to send your notes into a tool like Notion.

You can give the free plan a go before upgrading (you’ll only get 3 mins recording time compared to 15 mins on the premium plan).

Works on both desktop and mobile apps.

🤔 PARTING THOUGHTS

My wife left yesterday for a much-needed solo adventure.

That means I’ll be alone for a considerable amount of time. This is the first time in seven-plus years that we’ll be apart for more than one or two days at a time.

What’s that saying? “Absence makes the heart grow fonder”?

I’m not going to lie, I am uncomfortable with the thought of being away from C for more than even a day. This is why I’m choosing to view this as a rare opportunity to get to know myself better.

In addition to my regular routine of swimming in the morning and hanging out at my fave cafes around Danang, I plan on walking, spending time in nature, journalling, catching up on some online courses, and working on one of my unfinished projects.

I might do some of the things recommended in this beautiful video too.

Do you spend much time alone? And what do you do when you’re by yourself to get to know yourself better? I’d love to hear from you.

Who knows, maybe by sharing, you’ll help me (and my other readers) to get to know ourselves better too.

Anfernee Chansamooth

PS. – Did you get value from this newsletter? If yes, then please:

Forward it to someone else who might find it useful too.