How to Become an Idea Machine

Welcome to the Introvert Millionaire Habits Newsletter!

Here is what we’ll cover in today’s issue:

● How to Become an Idea Machine

● The Shockingly Simple Math Behind Early Retirement

● How to Get Your First 1,000 Email Subscribers in 30 Days

● The Resource Roundup

Let’s get to it…

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📈 How to Become an Idea Machine

Today’s article is a framework popularized by James Altucher. What I like about this strategy is it helps you build a powerful habit to consistently come up with great ideas. In a related topic, I was a guest on his podcast twice. Here’s one of the interviews.

Are you looking to unlock your creative potential and turn your brain into an unstoppable force for generating innovative ideas?

Welcome to the world of the Idea Machine, a transformative framework popularized by entrepreneur and author James Altucher.

This isn't just about coming up with a random thought here and there; it's about cultivating a powerful mental habit that can lead to personal and professional breakthroughs.

Imagine waking up each day with a fresh batch of ideas that could improve your life, boost your career, or even change the world.

By committing to write down 10 ideas daily, you can develop your "idea muscle" and turn it into a machine.

But why is this practice so beneficial?

Ideas are the currency of life, and unlike money, they don't get depleted; they multiply.

As Altucher himself puts it, good ideas can buy you better experiences, better ideas, and even better opportunities.

By consistently engaging in this exercise, you're not just brainstorming—you're investing in your intellectual wealth and cultivating a mindset that sees possibilities everywhere.

So let’s dive into this simple, but effective practice.

10 Ideas List (An Overview)

The basics are simple:

● Every single day (without fail) create 10 ideas about something.

● It doesn’t matter if they’re “good” or “bad” ideas.

● James Altucher mentions that you most likely won’t be able to spot the bad and good ones as humans are not good at predicting outcomes when things get complex.

● The most important thing is that you train your brain to be able to churn out ideas.

It would be false to say that James Altucher invented this method - in fact - it’s as old as the hills.

Cerebral powerhouses like Thomas Edison, Nicholas Tesla, and Leonardo Da Vince swore by this method.

Leonardo Da Vinci's notebooks are full of ideas - anything from philosophical concepts, to word games, or ideas for inventions.

Most of the best scientists, authors, marketers, entrepreneurs, or anyone who uses their mind to produce stuff engages in some form of idea-creation habit.

10 Ideas List (An Action Plan)

The steps to apply this habit are straightforward and the most important thing is consistency.

Just like physical training, you have to do it regularly and frequently to see results (this is something that James Altucher reiterates all the time and he recommends practicing this 7 days a week).

You’re using this as a method to strengthen your mind and develop new mental skills - for this to work, you do it every day, without fail.

Most of the time this exercise takes less than 10 minutes to do.

James Altucher states that the reward for this daily effort is unlocking the equivalent of a superpower, you’re able to come up with creative ideas at the drop of a hat and are capable of solving problems and seeing solutions in any situation.

Step 1: Buy a Small Notebook

James Alucher says he uses a waiter’s notebook, but the reality is that any small thing that can fit into a pocket will do.

The important thing is that it’s a portable place where you can take it out, jot down 10 ideas, and put it away, no matter where you are.

The important thing is coming up with the ideas and not the ideas themselves (yet).

Step 2: List 10 Ideas

It has to be 10.

Most people can come up with 3 or 4 good ideas, but 10 will challenge most people.

That’s the purpose of this exercise, once you get past the first 2 or 3 or 4 you have to start thinking creatively and using what you know in innovative ways.

At first, this can be quite challenging, but you’ll find that your mind quickly adapts and can pump out very interesting ideas about nearly anything with practice.

Step 3: If You Struggle With 10 Try 20

What if you’re struggling and 10 seems like too much work?

James Alucher gives us an interesting solution.

He says to write down 20.

This isn’t to be masochistic, usually, people struggle to write down 10 ideas because they are trying to produce 10 good ideas.

This means that they are self-editing and not being creative or generative.

Upping the number forces you to come up with absolutely absurd and impractical ideas, but it’s also the single best way of training your brain in this skill.

Step 4: Be as Creative as Possible

Ideas can be about anything you want.

The more broad your “idea” categories are, the better your results will be.

Try and come up with ideas for things that are outside of your usual wheelhouse.

If you’re just trying to come up with ideas for a business or ideas to make money then try coming up with poem ideas, plots for a detective novel, funny names, or jokes.

This makes you look at things with a new perspective and is like rocket fuel for innovation.

When your mind is capable of different kinds of creative thinking it comes up with more creative solutions everywhere.

Step 5: Unlock Your Ideas

Another exercise you can add that multiplies the value of the ideas you’ve created is to take a single idea from your notebook and then think up “10 next steps.” This trains your brain to be solution-oriented and to see the next step in whatever you have to do.

Being able to break down hard projects into simple steps is a superpower in itself and almost a cheat code for success - so with this method, you are getting a two-for-one deal.

The Ideas List in Action

Here’s the 10 ideas list in action.

John wants to improve his productivity so he starts by buying a small notebook and writing “Productivity ideas” at the top of the page.

He comes up with the following:

1. Find areas where I’m wasting time.

2. Figure out what my strengths and weaknesses are.

3. Look for ways to delegate or automate stuff that can be.

4. Study different productivity methods and systems.

5. Listen to motivational podcasts.

6. Study the lives of people that I like and are known for their insane productivity to see what I can learn.

7. Check-in with health (am I getting enough sleep, eating well to get the most out of my body and mind, exercising, etc.)

8. Ask friends and family for advice.

9. Join a group online that’s trying to improve their productivity.

10. Experiment with different ways of working (does taking frequent breaks work? Or do I do better when I just sit down and hammer the job out?).

John changes the focus of his “10 ideas list” every day - sometimes it’s about work or personal projects that are important to him, other times he throws caution to the wind and writes 10 ideas on the weirdest and most wonderful topics he can think of.

Whenever he struggles to come up with 10 ideas about something he thinks of 20 of the most nonsensical rubbish ideas he can think of.

Example 1:

John is struggling with 10 ideas for “profitable” businesses - so he comes up with 20.

1. Dropshipping

2. E-store

3. Digital marketing agency

4. Freelance marketing

5. Website design

6. Private detective

7. Wellness coach

8. Motivation speaker for motivation speakers

9. Freelance joke writer

10. Nail salon and pedicure for men only

11. Barbershop that is strictly for styling beards and moustaches

12. Daycare for turtles and other nonstandard pets

13. Daycare for teenagers

14. Artificial holiday shop

15. Dating app for clowns

16. An emergency cleaning service app

17. Rent an audience service for comedians

18. A birthday planning consultant

19. A service that texts your spouse for you while you’re at work

20. A bar that only serves nonalcoholic drinks

As you can see, a lot of these ideas are unlikely to work out and some of them might need more details before they become fully fleshed out.

The key here is to give yourself permission to go all over the place and think of “good” ideas only.

Example 2:

The day after, John does his “10 ideas list” on the first idea he had for profitable businesses to identify the next steps.

He writes “Dropshipping” at the top of the page. He comes up with the following:

1. Learn more about dropshipping

2. Look at what sells well

3. Look at what doesn’t sell well

4. Figure out what kind of investment is needed to make it work

5. Figure out if it’s practical enough for me to make it work

6. Figure out if I even like the idea of dropshipping or not

7. Look at potential products that I could sell as a drop shipper

8. Think about goals and ambitions for a dropshipping business

9. Look at risk vs reward

10. Compare drop shipping to other options

Becoming an Idea Machine

The 10 ideas list is a clever way to train your brain for success, solutions, and creative ideas every day and doesn’t take long to do each day (usually less than 10 minutes or so).

You can make this exercise as fun as you like and you can very quickly start to see ideas that could potentially be fantastic solutions to your problems.

Now, as we close things out, there is a variation on this framework that I personally use. 

It’s called the “12 Favorite Problems Mental Model” that was made popular by Richard Feynman. 

The strategy here is to maintain a list of your current challenges / problems/ questions that are on your mind and then allow your subconscious mind to work on them throughout your day.

Here’s a thread on Twitter where I talk more about this concept:

💲Wealth Building Wisdom

Once in awhile, you come across an article that can change your life.

That’s what happened when I read The Shockingly Simple Math Behind Early Retirement by Peter Adeney aka “Mr. Money Mustache.”

What I like about this article is how it cuts through all the bullshit about what you need to do to become financially independent. 

Really, it all comes down to simple math and a willingness to track a few numbers in your life.

Not only do I recommend checking out this article, but I think you should complete the exercise that MMM outlines. 

💡 Solopreneurship Spotlight

In the last newsletter, I talked about growing a newsletter is my favorite solopreneur business model for 2024.

Newsletters are one of the only business models where you are in 100% control of the asset. (Unlike relying on Google, TikTok, Facebook, or YouTube.)

To get started, check out How To Get Your First 1,000 Newsletter Subscribers In 30 Days by Matt McGarry. This article provides an excellent overview of the action steps needed to get a newsletter up and running.

(Side note: If you’re interested, Beehiiv is the platform that I use to publish this newsletter. Click here for more details.)

🗂️ The Resource Roundup

⏲️ The Ultimate Guide to Personal Productivity Methods – In this article, Todoist presents various personal productivity methods to help you accomplish more in your day. It explores and breaks down various strategies, from the Pomodoro Technique to the Eisenhower Matrix, with clear explanations and practical tips.

⏳ You Can’t Succeed in Life Without This Skill – Ryan Holiday writes about the significance of cultivating a sense of urgency as a critical component for success in life. The article emphasizes the importance of seizing opportunities, taking decisive action, and avoiding procrastination.

💰 Is it really that complicated? – John Stoj suggests that the complexity of your financial life is often influenced by hired professionals. Do you agree?

🛣️ Life hacks I know at 34, I wish I knew at 20 – Mitchell Cohen offers 11 pieces of practical advice for personal growth and success, top of which are taking action, experimenting, and creating effective systems.

📵 How to Break Dependence on the Phone – In this article, Leo Babauta encourages breaking free from phone dependence and offers practical tips to regain control over our digital habits. He suggests strategies like setting boundaries, establishing tech-free zones, and practicing mindfulness to reduce screen time and foster healthier relationships with our devices.

Well, that’s it for today.

Enjoy your weekend!

Talk soon

Cheers,

Steve Scott 

P.S. Whenever you’re ready, here are a few ways I can help you

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