Run from the taxman in the spirit of the law

Okay, so I totally made up this spirit. But if the government is against it we all should have issues. The spirit is to encourage risk.  The more potentially income generating risk you take the more you can expense away your income. We all have pastime right, lets just replace them with potentially income generating endeavors. What if you replaced your aspirations for getting a new TV and replaced that with coming up with a new YouTube Channel. Why not replace just cooking to eat with the development of a restaurant menu, that’s a lot of meals at home that could become taste tests, dinner parties now become product testing labs. The list goes on:

  • Do you know a musical instrument and have you ever jammed something catchy, expense away a new guitar by making a new record.
  • Do you like beer? make beer with the intent of bringing it to market and expense it all away.
  • Do you like to read books? Why not write a book, then all the books you use to write the book can be an expense.
  • Do you like fashion? Hit up the sewing machine and wear clothing you made to test out a potential fashion line.
  • Are you an engineer? For the love of humanity, when you go home invent something. Their may be billions of dollars worth of problems in just the kitchen, and with selling patents you won’t have to put up with all the pain of bringing something to market.
  • Do you like video games? make one! There’s an originality drought, we need you!
  • Do you like trying out new things and coming up with new ways of doing things? Hello high traffic blog.
  • Do you like to work out. Come with a niche gym franchise.

What you would be doing is trading your free time that typically gets passed with baseball, the news, or fishing, and replacing that with investing time into an option*  to start something income producing by developing the intellectual property as a productive pastime. But if the product is intellectual property or software, then the time and money invested wouldn’t be like an option, because the barriers to entry are so low it would be analogous to buying stock. Now tell me, whats more fun, blowing away time on E-trade or blowing it away tweaking that sweet lick you came up with last weekend.

Finally, one of the tricks to actually making anything happen is commitments. The people at stake isn’t just you it’s everyone who would potentially buy your product. With this blog I have commitments to everyone that can possibly stumble upon it, if I don’t do it no one gets my insights on being foxy unless they talk to me somewhere. The world needs new ideas, like I said in the list some industries are just going empty, I feel empty when I leave the movies, I feel empty when I play a new video game. Why? Because I have seen it, done it, etc. Established entities tend to avoid taking paradigm shifting risk. Once companies find something that makes money they’ll do it over and over again with less and less added utility from each new iteration. Look at the latest Mario Kart, the latest Ford Focus, the latest iPhone, one of Bob Dylan’s latest singles. They’re all not that greater from what was before or they suck! Now check out the The Stanley Parable, Lit C1, The stuff that shows up at SXSW. These come from relatively unestablished places. Some of the greatest innovations come out of nowhere, possibly because dreaming nobodies may not suffer from complacency.

So, Lets all be poor on paper. Scratch your itch for something better. The world needs you to.


 

Strategies and tips

  • Shift things you already have to do to survive well into productive endeavors. Examples: Expense away your need to eat by developing a restaurant franchise.
    • Tools: EatWith, essentially AirBnB for dinner parties. Use this to test and tweak your food, and restaurant experience, read The Lean Startup to understand my thought process on this better.
  • Expense away your books, other modes of learning, even travel by starting a high traffic blog, other content based product, based on your insights.
    • Tools: WordPress, YouTube, Ingram Spark, Ryan Holidays Blog (this guy is a book factory, he’s only 26 and already has 3 books out. He apprenticed under the great John Greene, author of The 48 Laws of Power, and, obviously, has picked up some tricks in writing.)
  • Hum your own songs on the way to work, just turn the radio off and eventually you might just involuntarily come up with a riff to build up on into a song.
    • Tools: ScoreCloud– hum your melody in and this app will put it into musical notation, Imitone– hum your melody and turn it into music.
  • If you’re an engineer, or an inventive person, we need you! Please, when you go home work on making life easier for all of us, there might be millions waiting on the other side.
    • Tools: Tech Shop  get the skills to make imagination come to a reality.

Books: Make Millions with Your Ideas, One Simple Idea, Accounting Made Simple

*This being an analog to the financial product: you put in enough to launch (menu, basic design, plans, etc, if a restaurant, essentially a clear vision), but no land, labor, capital. This has sense given vision is one of the most important elements in doing something. If you don’t know what to do, what can you do?

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