Learn how to manage your money in UNIVERSITY

Written by an actual university student.

Money Experiment 4: Idea Machine

Money Experiment 4: Idea Machine

Money Experiment 4: Idea Machine

What’s the secret to success? Is it being resourceful? Having grit? Well, according to James Altucher, it’s becoming an idea machine. Altucher is a hedge-fund manager and entrepreneur, co founder of more than 20 different companies and a bestselling author of several books including Choose Yourself and The Rich Employee. In other words, he is a success.  And when someone attributes their success to a certain strategy that anyone could do, my ears perk up. I want to become an idea machine.

fist idea machine

When you don’t have ideas because you’re not an idea machine.

Altucher explains that ideas are the new currency of life. Money can disappear, but good ideas ‘buy you good experiences, buy you better ideas, buy you better experiences, buy you more time, save your life’. Having ideas is like a magical power. They appear when you need them most: when your business fails, when your car breaks down and when you think you won’t ever get out of this mess. Ideas save you, they inspire you and they expand your creativity. And guess what? Once you become an idea machine, you can sell those ideas. You can use them to make money, you can help others make money and you can find creative ways to live. There is no downside to being an idea machine.

So how do I become one? The strategy is very simple: Write 10 ideas every day. Boom.

Why 10? Because writing 5 ideas is pretty easy. It’s on the 6th one that you really start to think.10 ideas makes your brain sweat, makes you force the creativity out. You can write them on a pad of paper, on your laptop or phone. The platform does not matter, it’s the exercise that does. Altucher explains that it’s not creating good ideas that is important, just ideas. There is no pressure to come up with excellent ideas.


My Strategy:

I downloaded an app called Ideas – Become an Idea Machine and I’m now writing 10 ideas everyday. I’ve written 50 so far (that means 5 days for you non maths people) and so far so good. What I like about this app is that there’s a suggested prompt/inspiration every day if you don’t know what to write your 10 ideas on. It’s a life saver. Apparently, you become an idea machine after 6 months (that’s 1,680 ideas!!). Not only does it mean I’m sure to find a good idea or two in those 1,680, but it will also put to test my discipline and capability of keeping a habit.

idea machine app

I’m very excited about the results from this experiment, and you’ll get to see how I’m doing at each track report. For more details on the different experiments, check out my weekly newsletter!

Spread the love