The second facet of the life philosophy Todd teaches in this lesson is inventory. When you’re working to accomplish your dreams, you need to maintain a positive mindset. One way to do this is by taking stock of your life to appreciate the good things that have happened or the people who have helped you.


Inventory is a way of looking at the things you have and either collecting or cataloging them. For example, if you have a million dollars in your bank account, that’s inventory. If you have a million dollars in stock options, that’s also inventory. If you have a million dollars worth of intellectual property or trademarks, that’s inventory as well. Your inventory is everything that exists within your power to accumulate or create value in the future.


People often take inventory with regard to money, but there are other types of inventory as well. For example, if someone has a lot of friends who will help them in a crisis, they can consider these friendships their inventory. These are people who could potentially come together and work toward a common goal on your behalf. Whether it’s money, connections or favors you own, everything counts as your inventory.


Todd teaches that even if you’ve been working on your life inventory for a while, you should still do it again. He says inventory is important to keep you in the right mindset if you are going to accomplish your big dreams. If you don’t take inventory, you will lose sight of what you want to achieve and you’re not able to use what you have to excel.


To review, inventory is the accumulation of all the things you’ve been given. All the friends you’ve made. All of the things that you’ve worked for. The moments where you’ve prevailed through difficulty. All of these can be considered part of your life inventory because they give you value and power in this world


One important thing about inventory is that you can’t do it just once. You have to keep doing it throughout your journey to success. Inventory helps remind you of where you came from so that you can get to where you want to go in life.