Monday, December 12, 2016
Tools for Titans #3 : Conan the Barbarian !
It is interesting that the section on Arnold Schwarzenegger is parked under the wealth section and not the health section, but this is the best section so far. Here are the key learnings :
a) Arnold was already a millionaire before his first movie break
Arnold was already a millionaire prior to his breakthrough in the movie business. He already had a great business selling seminars, courses on bodybuilding before becoming a movie star. Having calculated that given the rate of inflation in those days, Arnold bought and held onto as much real estate as he could.
b) Arnold never auditions for his role
Another great lesson is that Arnold never auditions for his role. All of his roles were made for him. The reason he was a break-through was because he was a beefcake in an era where Hollywood was dominated by actors like Al Pacino and Dustin Hoffman. This made him different and unique.
The fact he was already a millionaire allowed him to patiently to wait for a role which only he could play.
c) Arnold's most profitable film was Twins.
This is a really teachable lesson. As no one thought that a comedy starring Arnold Schwarzenegger would make it big in Hollywood, Arnold negotiated a unique revenue-based pay-off for himself and did not ask for a salary for that acting gig. As the movie eventually did very well, Arnold was able to take a huge cut of the box office sales.
Collectively, this section showed that life is not fair. The fittest folks who excelled in athletics are also the top scholars.
The biggest lesson for me is that simply being financially independent can be a great asset to a person's future career. You can custom make a career which provides you to niche to perform well and you can take your time to structure a pay-off which gives you a big advantage compared to your peers.