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How the Wealthy Use Debt

mentor mindset money success Mar 18, 2025
 

Most people fear debt. They see it as something to avoid at all costs—a financial burden that keeps them stuck, drowning in monthly payments.

But here’s the reality: Wealthy people love debt. Not because they enjoy owing money, but because they know how to use it strategically to grow their wealth.

The wealthy don’t see debt as a trap—they see it as a tool.

While the average person takes on debt for liabilities (like cars, clothes, and vacations), the wealthy use debt to grow their business faster—investing in assets that increase revenue and scale operations.

If you’ve been taught that “debt is bad,” it’s time to shift your mindset and learn how to leverage debt the way the wealthy do.


Positive Debt vs. Negative Debt: The Wealthy Understand the Difference

Not all debt is created equal. There’s a huge difference between negative debt and positive debt.

  • Negative Debt is money borrowed for things that lose value over time and don’t put money back in your pocket. Think credit c...
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How NOT to Invent a Product

 

How NOT to Invent a Product

Are you ready to dive into the surefire ways to fail at inventing?

If you’re looking to ensure your next invention is a spectacular flop, you’ve come to the right place. Here's how you can master the art of what not to do.

Step 1: Solve a Problem No One Has

First things first: why bother with real-world problems? To truly botch your product development, start by inventing something for an small problem. Forget about market demand; it’s overrated anyway. This approach guarantees that your product will resonate with absolutely no one but you, securing its place in the hall of fame for unnecessary inventions.

Step 2: Skip the Research

Research is such a drag. Who has time to check the size of the market or scope out potential competitors? Assume your product is a stroke of genius. Begin by counting the profits you’ll never make. Ignoring your market ensures that you’ll be blindsided by actual consumer needs and existing solutions, paving a smooth road to ...

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Why You Need a Mentor

A product mentor can be incredibly valuable for anyone involved in product development, whether you're a new product manager or a seasoned entrepreneur. Here are a few reasons why you might want to consider working with a product mentor:

  1. Gain experience and insights: A product mentor can offer you valuable insights and experience that you might not have acquired on your own. They can share their experiences, offer advice, and provide guidance based on their own successes and failures. Gaining another perspective or feedback can help skyrocket a good idea into a better one.

  2. Receive constructive feedback: A product mentor can provide feedback on your ideas, strategies, and plans, helping you to refine and improve your approach. This can be especially helpful if you're struggling to identify areas for improvement or if you're feeling stuck in your product development process.

  3. Build your network: A product mentor can also help you expand your network of contacts and connect

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