My first $10k month as an entrepreneur
Summary
TLDRIn this video, the creator celebrates hitting $10,000 in monthly revenue for the first time as an entrepreneur. They recount their journey, noting a 70-80% profit margin and the realization that addiction, not innate talent, is the key to success. The creator reflects on their past skepticism towards online income claims and how they've since discovered the power of becoming addicted to productive activities, such as making money. They emphasize that anyone can achieve their goals by finding a way to become addicted to the right things, challenging the viewer to consider how they can apply this mindset to their own pursuits.
Takeaways
- 🎯 The speaker achieved their first $10,000 month as an entrepreneur, marking a significant milestone in their business journey.
- 💼 They have a high profit margin, estimating around 70-80%, which indicates a healthy and sustainable business model.
- 📈 The speaker realized the potential to reach $10K about two weeks prior and decided to document the experience, highlighting the importance of goal setting and tracking.
- 🚗 Despite the financial success, the speaker chose to live a more modest lifestyle, including selling their car due to its unnecessary expenses, demonstrating the value of financial prudence.
- 🏡 The speaker's lifestyle hasn't changed significantly with the increase in income, emphasizing the importance of maintaining personal values and lifestyle choices.
- 💡 The key to the speaker's success was the realization that addiction to the right activities can lead to success, challenging the traditional notion of discipline and dedication.
- 🎮 The speaker's experiences with video games and fantasy sports showed that addiction to enjoyable activities can translate into success in other areas of life.
- 💼 The speaker's transformation from a self-proclaimed 'lazy' person to a successful entrepreneur was driven by shifting their addictive tendencies towards productive activities.
- 🚀 The speaker encourages viewers to find ways to become addicted to productive behaviors, such as making money, which can lead to significant life improvements.
- 🌟 The speaker's story is a testament to the power of self-belief and the ability to change one's mindset and habits to achieve personal and professional goals.
Q & A
What was the speaker's initial reaction to seeing videos of people making large amounts of money online?
-The speaker initially thought those videos were scams, believed the people in them were liars trying to sell something, or that the success stories were outdated, oversaturated, or due to luck.
How much money did the speaker make in their first 10K month as an entrepreneur?
-The speaker made $10,862.19 in revenue for the month, with an approximate profit of just over $10,000 after accounting for a 70% profit margin.
What was the speaker's mindset before they started making significant money?
-The speaker considered themselves lazy, with no dedication or discipline, and believed they were not capable of becoming successful because they were 'born lazy'.
How did the speaker's perspective on success change over time?
-The speaker's perspective changed when they realized that success could be achieved through addiction to the right things, rather than just being born with talent or luck.
What was the speaker's strategy for achieving success in their business?
-The speaker found success by becoming addicted to their business, similar to how they became addicted to video games and fantasy basketball, and dedicating significant time and effort to it.
How did the speaker's lifestyle change after achieving financial success?
-Despite making more money, the speaker chose to live a less extravagant life, getting rid of their car and opting for walking, biking, or using rideshare services when needed.
What was the speaker's realization about discipline and addiction?
-The speaker realized that they were not naturally disciplined or talented, but rather they became good at things they were addicted to, such as video games and fantasy basketball.
Why did the speaker get rid of their car?
-The speaker got rid of their car because they realized they didn't need it since they work from home and most places they need to go are within walking distance.
What was the turning point for the speaker in terms of their attitude towards making money?
-The turning point was when the speaker understood that they could achieve success by getting addicted to making money, just as they had become addicted to other non-productive activities.
How does the speaker define addiction in the context of their success?
-In the context of the speaker's success, addiction is defined as an intense focus and enjoyment of an activity to the point where it consumes a significant amount of time and effort, leading to expertise or success in that area.
What advice does the speaker give to others who want to achieve success?
-The speaker advises others to find a way to become addicted to the activities that will lead to their success, such as making money or improving their skills, rather than just pursuing what is enjoyable without a clear goal.
Outlines
📈 Entrepreneurial Success: First $10K Month
The speaker shares their excitement about reaching a personal milestone of earning $10,000 in a month as an entrepreneur. They provide evidence with screenshots of payments into their bank account, totaling $14,862.19 over a period from February 29th to March 26th. The speaker mentions that there are two additional payments pending, which are not included in this sum. They calculate their profit, assuming a 70% profit margin, which exceeds $10,000. The speaker reflects on their journey, noting that it took less than a year to build the business to this level. They also discuss their lifestyle, which has not changed significantly despite the increase in income, and their decision to sell their car due to the convenience of walking, biking, and using ride-sharing services.
🎮 The Power of Addiction: From Gaming to Business
The speaker recounts their realization that they were not inherently lazy, but rather had not found the right 'addiction' to drive their success. They share personal anecdotes about being highly dedicated to video games and fantasy basketball, where their addiction led them to excel. They reflect on how this addiction translated into success in these areas, and how they began to apply the same mindset to their entrepreneurial pursuits. The speaker emphasizes that their newfound dedication to their business was not about discipline in the traditional sense, but rather about finding something they were passionate enough about to become 'addicted' to, which in turn led to their financial success.
💡 The Secret to Success: Finding Your Addiction
In the final paragraph, the speaker concludes by emphasizing that anyone can achieve success by finding something they can become addicted to in a productive way. They acknowledge that it's challenging to become addicted to something that might not be inherently enjoyable, like building a business. However, they believe that the key to success is the ability to harness one's addictive tendencies towards activities that lead to positive outcomes, such as making money or improving one's life. The speaker shares their personal transformation from someone who was dismissive of online success stories to someone who deeply respects the dedication and 'addiction' that allowed others to achieve their goals. They encourage listeners to find their own path to addiction that aligns with their aspirations.
Mindmap
Keywords
💡Entrepreneur
💡Revenue
💡Profit Margin
💡Discipline
💡Addiction
💡Lazy
💡Mindset
💡Scams
💡Outdated
💡Dedication
💡Self-Improvement
Highlights
Achieved a personal milestone by earning $10,000 in a month as an entrepreneur.
Received payments into the bank account, totaling $14,862.19 over the last 30 days.
Profit margins are estimated to be between 70 to 80%, with a conservative calculation at 70%.
Anticipated two additional payments that are pending in the bank account.
Realized the potential to hit $10,000 in revenue about two weeks prior, inspiring a video idea.
Reflected on the journey to this milestone, taking less than a year to build the business.
Mentioned no significant lifestyle changes despite the income increase, choosing to live modestly.
Gave up car ownership due to minimal use, opting for walking, biking, or ride-sharing services.
Emphasized the importance of hard work and the value of money earned.
Acknowledged the initial skepticism towards online income claims, comparing past doubts to present achievements.
Shared the realization that addiction to the right activities can lead to success.
Described personal experiences of addiction in gaming and how it translated to success in other areas.
Highlighted the power of addiction in driving dedication and discipline towards goals.
Suggested that anyone can achieve success by finding something they can become addicted to in a productive way.
Encouraged viewers to consider how they can channel their addictive tendencies into positive and profitable habits.
Concluded with a message of self-improvement, emphasizing personal responsibility and the disregard for others' opinions.
Transcripts
all right so I just hit my first 10K
month as an
entrepreneur uh for the first time in my
life I made $10,000 in a month okay so I
took screenshots of all the payments
that went into my account um these are
all the payments that went into my
actual bank account in the last 30 days
um I do actually have two more payments
you know coming that they've already
been paid but it's just that I haven't
you know they're not actually in my bank
account it's going to come in a couple
days so at the time of me recording this
I it's not in my bank account so I
didn't include it but anyways um from
February 29th to March 26 these are all
the payments if you add them all up I
did it right here it's $1
4,862 19 um and that's Revenue so my
profit margins are around 70 to 80% I
just took the low end um so 70% and you
do the math it's just over $10,000 and
this is again not including these two
payments that are going to
be uh coming in a couple days you know I
actually realized that I was on my way
to making 10K this month like around two
weeks ago like I did the math and I was
like oh I'm on Pace to hit uh 10K this
month and I and I wrote it down because
I thought it'd be a cool video idea like
you know my first 10K month as an
entrepreneur um so I wrote it down but
the more I thought about it the more I
realized that there's not much there's
not going to be much for me to actually
talk about in the video like yeah the
video topic is great but like what do I
talk about how did I make the money upw
work I have literally over 30 40 videos
talking about how I made you know my
money how long did it take for you to
build your business um a little under a
year what are you doing with the money
nothing it's just sitting in my bank
account what changed in your life after
you started making 10K per month nothing
I live the exact same life I hang out
with the exact same people I wear the
exact same clothes like I never bought
anything crazy like a new car or
whatever you know what's crazy is I
actually got rid of my car I realized
that I work from home and I don't really
go out that much the only time that I
even do go out is to go to the gym or to
get like groceries you know things like
that and I could just walk like
everything is just walking distance I'm
walking everywhere now or if I like I
also have a bike so I can use that and
if I do need a car to let's say I'm
going somewhere that's like far away
whatever
I can just pay for an Uber you know or
pay for a lift or pay for a ride and
it'll still be cheaper than you know all
my car payments Insurance gas C
maintenance um you know registration
fees whatever I did have to pay so I got
rid of my car so I'm making the most
money I've ever made and I'm living a
less extravagant life like I feel like
I'm getting more stingy with my money at
least for myself like I've worked really
hard for this money um I'm not just
going to spend it on things that I don't
really need but yeah I had this great
video idea but I didn't really know what
to talk about so I was just like okay
let me just keep it simple um and
provide some sort of value because for
me I did learn a lot of things
throughout this journey and there was
one thing that I actually did figure out
that kind
of propelled me to I guess get me to
where I wanted to be and once I figured
it out it kind of just made everything
click for me so I wanted to just talk
about that in this video and it might
sound dumb or cliche to some people but
I actually believe this is the reason
why there are people out there making
tons of money doing all these crazy
things so a year ago when I first used
to see like these types of videos you
know um making 10K per month raw
realities of making 10K per month online
100K per month online whatever my
mentality at first was like oh this is a
scam this is or he's a
liar uh he's just trying to sell me
something uh it's not real even if it
was real the content that I'm looking at
right now like whatever or this business
model it's completely outdated um the
business model is outdated it's
oversaturated um there's no point of me
getting into this now I'm just going to
be behind everybody else or like he's
only made it because he's extremely
lucky you know right place right time he
had the Head Start that I don't have um
and that's the only reason why he made
it all these all these useless dots and
now I'm on the other side side and I
realize something all it takes for you
to get to where I'm at or further than
where I'm at cuz I believe a lot a lot
of people can get a lot further than me
I'm just a normal guy like I keep saying
this I don't have any particular talents
or skills um I'm not particularly good
at anything um and I got here there are
tons of people out there that actually
have a lot of talent and skill but they
just don't get to where they want to be
because they don't have this one thing
and that thing I found is addiction you
know I used to think that I was the
laziest person in the world like I had
no dedication um no discipline like it
was impossible for me to become you know
that type of person because that just it
just wasn't me um I was lazy I was born
a lazy person nothing I can do about it
for example all these people you know
that have a great body it's because
they're disciplined people they have the
discipline
to go to the gym every day um so they're
they have that disciplined mind and I
thought you know they are born with it
and I was born with a lazy mind you know
it's just not meant to be you know for
someone like me I never did well in
school I would always procrastinate on
things because I just didn't want to do
it so I thought it was because I was
just lazy and I was just born a lazy
person and people used to tell me that I
was lazy you know and they reaffirmed it
like you know especially my mom uh like
she used to tell me all the time that I
was the laziest person in the world so I
always had you know that
mentality you know I'm a lazy person I'm
a lazy person the reason why I'm not
good at this or the reason why I can't
do this is because I'm too lazy to do it
and because I had that mindset it became
my reality until this one day um some of
my mom's friends came over to our house
and I was in the living room uh playing
video games like that was all I did I I
think I was playing like fortnite at the
time and my mom's friends was watching
me and they're like oh you're so good um
oh you got this kill whatever oh he's so
good how at this game how did he get so
good and my mom was like you know it's
not that impressive this is literally
all that he does he plays this game all
day every day he's addicted to that game
and that was the first time someone told
me that I was addicted to something and
you know at the time I didn't really
think too much about it and then my
friends and I um play Fantasy
Basketball every single year and for me
I was just always at the top so pretty
much every year I would always be you
know the first place second place third
place whatever top three because all I
would do when it came down to Fantasy
season is just constantly be on my phone
checking Fant the Yahoo fantasy
basketball app you know when I'm at home
I would watch videos I would listen to
podcasts I would watch as many games as
I can while you know reading through
different forums and um different pages
whatever just so I can understand what's
going on in the basketball World fantasy
basketball world and like I'm reading
through forums I'm watching videos
taking notes and listening to people
talking about different strategies
whatever and I'm taking notes like pen
and paper notes I'm literally sitting in
front of a computer watching somebody or
hearing somebody talk about fantasy
basketball and just taking notes like my
life depended on it and my friends like
every year um they would tell me like
bro you're addicted but for me that was
why you know I was always at the top and
I don't know if you know what valerant
is but it's a video game when it first
came out uh my friends started to play
it I wasn't really that interested in it
because you know I didn't I wasn't
really a PC Gamer I was more of a
console gamer um so my friends kept
trying to get me to play it but I wasn't
really that interested so they've been
playing it for an entire year until you
know after a year they've been they kept
trying to talk me into it and then after
a year I caved in and I started playing
and it was fun for me um I had a lot of
fun um playing you know with my friends
even by myself at the time it was a lot
of fun for me and keep in mind like my
friends had a one-year head start on me
like they've been playing for an entire
year and I just started and in a couple
months I became better than everybody I
had the highest rank amongst all my
friends I was just better than all of
them because I got addicted like I
played every single day like when I say
every single day I mean every single day
no days off um literally hours on and
every single day if I wasn't playing
valerant I was either watching valerant
YouTube videos or I was thinking about
valerant in some in some sort of way I
had a dream about valerant do you know
how addicted you have to be to have a
dream about a video game but the reason
why I got addicted is because for me it
was fun you know I wanted to catch up to
my friends and you know show them that
you know I'm at their level or I'm
better than them whatever and they would
ask me you know you know like how'd you
get so good in such a uh short amount of
time and I'll would tell them like
literally it's because I play all day
like there's no secrets it's I just play
all day I spend hours in customs
learning different lineups practicing my
aim I downloaded third party party apps
to help me with you know certain
strategies and you know my game plays
improving my skills and I would
literally just do that every single day
for hours on end and I tell that to
people or to my friends and they would
be like bro you're addicted and some
people would look at me and tell me like
wow that's dedication that's discipline
you know and I would think to myself
like no that's not that's not discipline
all I'm doing is doing something that I
enjoy um I'm doing it because I have fun
with it it's not that's not discipline
like me playing Valor every day is not
discipline me watching YouTube videos on
fantasy basketball and taking notes
that's not
discipline like is it and that's when I
realized that maybe the reason why I'm
good at whatever video game I play is
not because I'm some sort of video game
Prodigy but it's because I got addicted
to it maybe the reason why I was better
than all my friends at Fantasy
Basketball is not because I'm some sort
of fantasy basketball Prodigy but it's
because I got addicted to it and that's
when it actually started to click in my
head that I can do anything if I can get
addicted to it I can lose weight and get
it and get in shape if I can get
addicted to losing weight and getting in
shape I can do better in school if I got
addicted to doing better in school I can
make a ton of money if I can get
addicted to making a ton of money and
that's why now all of these YouTubers
these gurus that I used to always just
look down
on um now I have nothing but respect for
them even though because regardless of
whether or not I actually like agree
with their intentions or their motives
whatever
they were able to do something that most
people just never figure out and that's
being able to get addicted to the right
thing the thing that's going to actually
make you money the thing that's going to
actually improve your life for the
better everybody has the ability to
become disciplined dedicated and
addicted to something you're just
putting it into things that aren't
really that productive if you can just
find a way to get addicted to making
money you're going to make money like I
guarantee it you don't know what you're
getting yourself into you don't know
where to start you don't care because
you're addicted you're going to figure
it out you're going through some
problems or some issues in your business
you don't care you'll figure it out
because you're addicted it's your
ability to get addicted to something
that's going to get you where you want
to be whatever it is now how do you do
it how do you get addicted to something
that's boring um because it's not fun
like starting your own business it's not
fun you're not always going to be
smiling and laughing like you are maybe
in a video game you
know um to be honest I don't know
honestly I don't know how I was able to
make that shift I think for me it's just
once I realized that all it takes is
addiction I don't know I just I just did
it I don't know how I don't know how
else to explain I just I just did it but
everyone has this ability if you could
just if you can just find a way to take
this ability to get addicted to
something and put that addiction into
for example making money you'll be good
it's hard it's going to be tough to do
yes but that's the answer so that's my
secret I'm a normal guy who found a way
to take his ability to get addicted to
something and then shift it into making
money a normal guy who found out that
with this he can pretty much get
whatever he wants in life a normal guy
who found out that the opinions of
others don't really matter that much a
normal guy who found out that the only
person who cares enough to improve your
life is you
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