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Hacking Treasure Management

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Larry Chiangby Larry Chiang

Treasure management is something business school neglects to teach.

I am able to get results that are in the category between legendary and awesome. This is because I hacked treasure management. I read and applied, “Richest Man in Babylon”, “Millionaire Next Door”, ‘Ultimate Credit Handbok’ and of course the legendary tome, “What They Don’t Teach You at Harvard Business School”. Here is the result in four categories you may feel free to copy-paste. Yes, Copy-Paste is Chapter 3 of my NY Times best selling book, “What They Don’t Teach You at Harvard Business School”.

-1- Don’t Rev You Life Engine CONSTANTLY at the Red Line

Have you seen people that are forty that look fifty.

Those are people that keep their engines in the 7000 RPM (revolutions per minute). In life, the church teaches the 70-20-10 rule of treasure management under the concept called tithing. I wont address money’s treasure management but I will focus on time treasure management.

Just like money, time should be divvy’d up 70-20-10 with 70% your necessary work, 20% is invested time and 10% is donated. If you’re at the red line, you’re 110% core work, -5% invested, -5% donated. You know why presidents and Coach Mike D’Antoni age five years per year in office?! THEY are 130/-15/-15!

-2- My point number two is to go back and re-read point number one and tweet me @6502838008 140 characters of reaction to point number one.

Seriously.

I will wait.

And wait.

-3- Buy Real World Insurance

Earlier, I met the Editor in Chief of this blog because I wrote a post in TechCrunch about “Taking Two Down the aisle“. It is a form of real world insurance.

Buying real world insurance is a method of hacking treasure management because it gets you net net better results at not-that much more money. Another example of real world insurance is when people plan an NCAA basketball final four weekend to Las Vegas. I always book an extra room off property.

What I mean is that you and your ten guy friends all book at Wynn or Encore. I book an emergency room at Treasure Island.

Just recently, there was the tech conference called SxSW. I bought some real world insurance that augmented my treasure because I controlled two venues and had back-up plans in case the Waterloo room failed to be available for my midnight keynote(s).

From Jim: The brilliance of this idea is that you’re actually buying insurance you could use. Paying a little extra, say on a nonrefundable deposit on a second venue, guarantees you a backup venue in the event the first one quits on you (or is double booked, whatever). It’s brilliant.

-4- The Larry Chiang Reverse Rebate Model

The best part about hacking treasure is to know when to give it away. For example, Duck9 sells a program for FICO score establishment and augmentation for $600. To test the Duck9 blog as a sourcing channel for lead generation, We are testing a negative cost.

This negative cost is an example of a “Larry Chiang Reverse Rebate Model”. Previously, I used it to sell-out Eventbrite events. In short, Stanford Engineers I teach would pay $6. If they actually showed up, they get $20. Lets examine the dynamics

  • It solidifies the covenant between rsvp-ed guest and host
  • It teaches a lesson. Buying twenty dollar bills for six bucks is what the internet was invented for (in my opinion :-)
  • It is hilarryAss because instead of giving away one iPad as a stanford student contest, everyone is a winner (private school, spoiled kids I know)

If you’re curious of executing the ‘Larry Chiang Reverse Rebate Model” it used to be called ‘larry chiang rebate model (LCRM)’. You can google it to augment your treasure.

Who is Larry Chiang? Larry Chiang is CEO of Duck9. He blogs. Currently he has a column at Bloomberg BusinessWeek, CNN and Yahoo. They all have the focus: What They Don’t Teach You in School. His sequel comes out 11-11-13: What They Will Never Teach You at Stanford Business School. Oh, he also has a VC fund, “Larry Chiang Stanford Asse9 Fund of Stanford Founders”.

{ 13 comments, please add your thoughts now! }

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13 Responses to “Hacking Treasure Management”

  1. Arvin says:

    Is this a real post, or were you recently spammed? It is barely intelligible and the guy sounds smug and fast talking. I’m not saying his advice is bad, I’m saying this guy doesn’t know how to write for your audience, Jim, and can really turn people off in the future. I subscribe to your blog but if I come across these articles in the future I’ll probably unsubscribe and stick with other personal finance blogs.

    • shiftomnimega says:

      I’m still not quite sure what “hacking treasure management” is.

    • Jim says:

      Nope, not recently spammed. I know Larry and his delivery isn’t the same as mine but I think you should read the message and not the delivery, I think he makes some important points.

  2. Jon says:

    I’m in agreement with the previous commenters. I had no idea what this man was talking about.

  3. Shirley says:

    What I am getting (after the second read) is ‘real world’ means right now and/or tangible, ‘treasure’ is gain, and ‘hacking’ (of course) means managing or controlling.

    Reading it with those words seemed to make the points more clear.

  4. mannymacho says:

    A little too much self promotion, plus I’m not a fan of him purposefully trying to be unintelligible and cryptic. Dislike.

  5. David M says:

    I agree with others, I have no idea what Larry is writing about.

    Larry, would you like to rewrite in simpler English that people would more easily understand?

  6. elloo says:

    Thought his lead generation reverse rebate was great. Those engineering students eventually turn “pro” and he has their number so to speak. And for all of you super type A personalities, read and re-read point #1. Stress will not only make you look older, it will kill you younger.

    The messenger may not be as clear as you would like and is inarguably smug, but he has stuff to say.

  7. Larry Chiang says:

    Thx for the feedback.

    If you’d like a free copy of my mentor’s book, “What they dont teach you at harvard business school”, text me.


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