c.1870 Bobby – a shop manager. Knows the ins-and-outs of the shop, but doesn’t own it. He is starting to hear things about the new frontier and how much opportunity is out there. Also, the homesteading act has just come into being (about 10 years previously). The homesteading act was the ability to stake off a large plot of land (400 or so acres), if you lived on it for 4 years and built a house the land was yours, free and clear.
In the 21st century, Homesteading is building small, sustainable business that we own (or own a piece of them).
The Train part of the talk is about why you SHOULD go out and do your own thing. Opportunity cost is how much it would cost to move on to the next thing. Some of which are not monetary. Learning, quality-of-life etc.
Live as risk management. Everyone has risk, and risk is tied to time. The amount of certainty is inversely relational to time, the longer the time, the less is known about what’s going to happen.
You only get to choose what you do right now. But what you do right now will affect what options you have in the future.
The one point to take away is that we are ALL at risk. Make sure you admit them, and weigh them out.
Bobby does some research. He bought the ticket, and his ticket is all the way to the west coast. Does some research on figuring out where he’s gonna stop along the way.
Figure out where you are, figure out what tools and actions you need to get there.
Time is our biggest non-reneable resource
On the frontier without other people, you’re in big trouble.
Good fences make good neighbors. Set rules and boundaries.
Plowing the field is hard without an ox.
Internal and external tools – basecamp, iconbuffet, your private tools, websites, etc.
Bobby, even though he worked his butt off, still rested on sundays.
Rest allows us to do more.
What is the value of what Bobby is doing? He is creating not only for himself, but for his future generations.
Wealth is more then monetary.
after 5 years, Bobby looks back and recognizes how great it is!
Stuff you can’t control, but need to react to.
Bobby’s dead (well, he never really existed.)
h4. Buy The Ticket