DO THIS If You’re Young and Broke
Summary
TLDRIn this motivational video, the speaker shares his entrepreneurial journey and insights on achieving financial success. He emphasizes the importance of learning over earning, especially for young individuals, and suggests that becoming an apprentice to gain insider knowledge is a time-tested path to prosperity. The speaker debunks the myth of quick wealth and advises patience, strategic planning, and hard work as essential ingredients for long-term success.
Takeaways
- 🚀 The speaker emphasizes the importance of a 'Surefire' method to make the first million within 5 to 10 years, especially for broke students.
- 📈 With a decade of entrepreneurial experience, the speaker has witnessed various business principles and owns several companies, which gives credibility to the advice given.
- ⏳ The speaker clarifies that 'quick' in the context of becoming a millionaire means a 5 to 10-year timeline, not months, and is considered fast in the real world.
- 💼 Historically, two common paths to wealth were being a valuable employee in a fast-growing company or learning and then starting a business in a similar industry.
- 🧑🎓 The speaker stresses the importance of prioritizing learning over earning in the early years, especially for students and young entrepreneurs.
- 💡 The speaker mentions the difference between apprenticeships and internships, advocating for the former where one can gain in-depth knowledge and experience.
- 💰 The speaker warns against the rush to become a millionaire at a young age, as it often leads to reliance on luck rather than skill and can have negative consequences.
- 🤔 The speaker suggests that the best time to make significant money is between the ages of 25 to 30, with a focus on building a solid foundation of knowledge and experience first.
- 🛠 The speaker highlights the value of gaining insider knowledge and work ethic, which can be achieved by working at a company that invests in employee training and development.
- 🔑 The speaker advises young people to seek opportunities where they can learn the most, rather than focusing solely on the salary, as this will pay off in the long term.
- 🚀 Finally, the speaker reiterates that there is no secret technology or shortcut to wealth, but rather a commitment to learning, gaining experience, and applying business principles effectively.
Q & A
What is the main message the speaker is trying to convey in the video?
-The speaker emphasizes the importance of learning and gaining insider knowledge in one's early years rather than rushing to make a million dollars quickly, especially for young students and teenagers.
What is the speaker's perspective on the timeline for becoming a millionaire?
-The speaker suggests that a realistic and 'quick' timeline to become a millionaire in the normal world is five to ten years, not months.
According to the speaker, what is the first route to wealth mentioned in the script?
-The first route is being an employee at a fast-growing company and bringing so much value to the company that they have to compensate you adequately.
What is the second route to wealth that the speaker discusses?
-The second route is working inside a fast-growing company, learning a lot, and then using that knowledge to start one's own business in a similar industry.
Why does the speaker believe that making money at an early age can be challenging and potentially harmful?
-The speaker believes that making money at an early age can lead to others perceiving it as luck rather than skill, and it can attract the wrong kind of attention, which may not be beneficial in the long run.
What does the speaker suggest is the best age range to make money?
-The speaker suggests that the best time to make money is from the age of 25 to 30, as it allows for more stability and maturity in handling wealth.
What is the difference between an apprenticeship and an internship according to the speaker?
-An apprenticeship involves being trained and learning a craft closely with time and attention, while an internship in a large company may not offer the same level of personal learning and mentorship.
Why does the speaker recommend joining a company with 100 or fewer employees?
-The speaker recommends smaller companies because they are more likely to provide personal training and learning opportunities, as opposed to larger companies where one might get lost.
What does the speaker mean by 'insider knowledge' and why is it important?
-Insider knowledge refers to the understanding of the inner workings of a business or industry. It is important because it gives one a competitive edge and is a valuable asset when starting one's own business.
How does the speaker define 'work ethic' and why is it essential for young people?
-Work ethic is defined by the speaker as the discipline and commitment to work hard and efficiently. It is essential for young people as it prepares them for the demands of entrepreneurship and self-employment.
What advice does the speaker give regarding the choice of a company to work for?
-The speaker advises choosing a company that is willing to invest in one's training and learning, rather than focusing solely on the salary or the company's size or prestige.
Outlines
🚀 Entrepreneurial Insights for Millennial Wealth
The speaker, an experienced entrepreneur, promises to share a surefire method to amass one's first million dollars within five to ten years. They emphasize that this strategy is particularly effective for broke students and young adults, drawing on their decade-long entrepreneurial journey and involvement in over a dozen companies. The speaker highlights the importance of timeless business principles and the distinction between quick wealth accumulation and the traditional 20-30 year timeline to become a millionaire. They also introduce their Instagram account for personalized Q&A sessions.
💡 Prioritizing Learning Over Earning in Early Career Stages
The speaker discusses the historical and modern approaches to wealth accumulation, advocating for a focus on learning and gaining insider knowledge in one's early career. They differentiate between apprenticeships and internships, stressing the value of the former for acquiring deep industry knowledge. The speaker advises young individuals to seek companies that invest in employee training and development, rather than prioritizing immediate earnings. They also touch on the importance of work ethic and the potential pitfalls of early, luck-based wealth accumulation.
🛠 Building a Foundation for Future Success Through Apprenticeship
In this paragraph, the speaker reinforces the idea of gaining insider knowledge through practical experience in a company of optimal size, where one can learn effectively without getting lost in a large organizational structure. They argue that the right company is one that values employee development and provides opportunities for learning and growth. The speaker also shares personal anecdotes about the importance of work ethic, the challenges of managing time effectively, and the benefits of being part of a company that invests in its employees' education and skill development.
Mindmap
Keywords
💡Entrepreneur
💡Millionaire
💡Apprenticeship
💡Internship
💡Value
💡Fast-Growing Company
💡Insider Knowledge
💡Work Ethic
💡Confidentiality Agreements
💡Investment Portfolio
💡Cryptocurrency
Highlights
The presenter claims a surefire way to make your first million in 5 to 10 years, especially for broke students.
The presenter has been an entrepreneur for nearly a decade and has experience with over a dozen companies.
Emphasis on the timeless nature of certain business principles despite the changing world.
The traditional path to wealth involved being an employee at a fast-growing company and adding significant value.
Learning from a fast-growing company and then starting your own business is suggested as a viable route to success.
The importance of prioritizing learning over earning, especially in early years and as a student.
The presenter's personal experience of making the first million at 18 and the misconceptions that come with it.
The presenter's Instagram account 'talk with Iman' for Q&A sessions and live interactions.
The societal rush to millionaire status and the flawed beliefs associated with it, especially among teenagers.
The reality that making money at a young age often isn't as impressive as one might think.
The risks associated with getting rich quick, especially through luck-based ventures like cryptocurrency.
The ideal age to start making money according to the presenter is between 25 to 30.
The distinction between apprenticeships and internships, with apprenticeships offering more learning opportunities.
The value of gaining insider knowledge and work ethic from working within a company before starting your own.
Finding the right company size that offers a balance between learning opportunities and not being lost in the crowd.
The importance of choosing a company that invests in employee training and development.
The presenter's rule in his companies to pay for any books employees wish to buy for self-improvement.
The necessity of having insider knowledge to succeed in business, which can be acquired through investment in education or experience.
A reminder that there are no shortcuts or secret technologies to guarantee wealth, only tried and tested business principles.
Transcripts
ladies and gentlemen in today's video
I'm going to reveal to you the Sure Fire
guaranteed way to make your first
million in the next five to ten years if
right now you're a broke student this is
genuinely 99
guaranteed to make you rich if you watch
the entire video and really take in what
I'm trying to tell you here and listen
I'm coming up to my 10th year as an
entrepreneur I have seen everything and
I have over a dozen companies that I
personally own or my holding company has
Equity stakes in so I've kind of seen it
all and I can tell you for a fact that
this is pretty much the most Surefire
route but as I said if you watch this
video If you truly take it in and if you
truly apply what I'm about to tell you
now listen times have changed and the
world is extremely different to what it
was like a hundred years ago that said
some business principles are Timeless
now a hundred years ago if you wanted to
get rich quickly and by the way when I
say quick most people think quick means
two months or five months I'm talking
quick in the normal world is hey I made
the intention that I am going to go from
nothing to something go from having
average income to becoming a millionaire
quick is five to ten years it's not five
to ten months normally a hundred years
ago even right now if you want to become
a millionaire you know from the point in
which you get your degree it'll take you
20 30 years so trust me when I say five
to ten years that is a good timeline now
I say five to ten but it will probably
be a lot quicker for you but getting
back to my point 100 years ago the way
you would do it is you would either be
an employee at a fast growing company
and bring so much value to the company
that they just can't help themselves but
now obviously you need to continue to
make your value known and renegotiate
with your company and just say hey I
know what I'm bringing to the table so
make sure that I'm getting paid
adequately so that's the first route but
that's not really what I want to talk
about here today the second route is you
work inside of a fast-growing company a
company where you can learn a lot and
you work in that company for two years
three years four years five years and
then you take everything that you've
learned and you go and you start your
own business in a similar industry and
from there you add in hard work and you
absolutely take off and you may even
bring in one percent the amount of
business that the company used to work
for but that's fine because you have a
hundred percent ownership now as I said
100 years ago 200 years ago 300 years
ago this would have been the path the
path would have always started with you
working at a company or an organization
and understanding that in your early
years you need to prioritize learning
over earning earning can come a little
later but in your early years I'm
talking specifically here as a student
as a teenager someone in your early
early 20s learning should always be the
priority now before I get into real meat
of this video on the topic of learning
so many of you guys ask very business
specific questions or questions that are
specific to your situation and
unfortunately on YouTube I just can't
really answer them so that's why earlier
this year I started an Instagram called
talk with Iman on there I try to do q
and A's once a week I'm gonna be honest
sometimes I get busy so it's not weekly
sometimes it's two or three times a
month but I try my best so I do free q
and A's on there and every once in a
while I will also do a live q a and just
answer some of your guys's questions
live so you can just type on your phone
talk with Iman follow the account and I
will try to answer your question on the
next q a that I do but getting back to
the main point here the reason I wanted
to talk about 100 years ago is I want to
explain really what I'm seeing right now
in society and why that is keeping you
poor that's keeping you dumb and it's
keeping you stuck you see the issue is
in modern society everyone is in such a
rush to become a millionaire and the
reason they're in such a rush is because
of the things that they think it will
give them and by the way I'm
specifically speaking to the teenagers
and the students here you've got kids
who are 16 who are in such a rush to
become a millionaire because I know
exactly what they're thinking they're
thinking hey once I'm a millionaire I'm
gonna get all the girls or people are
going to be impressed and I'm going to
be able to buy these things and I'm
going to talk to you very frankly as
someone who made their first million
dollars in cash in the bank at the age
of 18. I'm going to tell you this right
here right now when you make money at an
early age and I'm not talking early like
25 or 27 28 because that's still earlier
or maybe even 23 or 24. I'm talking
early as in 18 21. no one is impressed
they just think you are a lucky kid I
can tell you this because I experienced
this very few people thought he was a
genius they're like oh he got lucky at
an early age and he's probably gonna
lose all of it because honestly that's
what happens 98 of the time so that's
number one and number two girls don't
want you at that age either you have
someone like your high school Suite
heart who loves you no matter what so it
doesn't matter if you make your first
million at 18 or a 28 this girl's in it
for the long run or if you're trying to
pick up new girls they're more concerned
with like the 28 year olds the 30 year
olds the sort of girls that you think
money is gonna attract they don't want a
guy who's 18 or 21. so the reason I make
that clear is because everyone who's 16
18 20 is in such a rush you know let me
make my first million let me make my
first million and it's so stupid because
they would rather make their first
million in something that is pretty much
just luck let me let me give you an
example they would rather make their
first million at 18 or 19 or 20 by some
lucky crypto pick you know they put a
thousand dollars into one coin and
then it turned into a million dollars
let me tell you something that will ruin
your life forever because first of all
making a good amount of money at a young
age is already a massive challenge
what's even worse is if you got lucky
and let's call it what it is and that is
luck and by the way I've made a crap ton
of money with crypto but I never thought
that was me being a genius I just knew
hey there's a small part of my
Investment Portfolio and cool in two
years I made almost 10 million dollars
from crypto but that wasn't my career
and let me tell you something if that
was my career I would be very depressed
right now considering everything that's
going on in the crypto markets and if I
didn't get out at the right time and all
of this stuff but for me I was always
very chill about it because I planted my
seeds I've been an entrepreneur for 10
years I have all of these businesses so
I know that I'm going a little bit side
tangent here but that's all to say that
the best time truly I can tell you the
best time in my opinion to make money is
from the age of 25 to 30. now I happen
to make money a lot younger but also
bear in mind I started my first
entrepreneurial Adventure when I was 14.
so 14 15 16 17 18 five years it took me
five years to make my first million
remember what I told you earlier on I
said five to ten years to make your
first million what happened to me five
years so I'm talking and I'm telling you
guys from experience so going back to my
main point the trajectory whether it's
now or 100 years ago I believe that if
you are young and when I say young I
mean really below the age of 23 the
trajectory has always been very clear
first you are an apprentice you are
sponge you're learning as much as you
can you're absorbing everything and then
you can become the master now let me
tell you something these days we rarely
have apprenticeships we have internships
and there's a big difference when you're
an intern when you're an intern in a big
company I've even had friends of mine
especially when I was younger you know
friends of mine that were my age you
know obviously you know for me by the
age of 21 I was making millions and
millions of dollars a year but my
friends that I grew up with were looking
at internships and they were telling me
Oh you know what internship do you
recommend and this and that and I had to
tell them very honestly I said listen if
you go to a company that's more than 200
employees you're gonna be lost No One's
Gonna train you you're not gonna really
learn anything but if you look back 200
years ago let's say you were even a
locksmith you would be an apprentice you
would be young and you'll be studying
the craft and even in places like Japan
this stuff still goes on you're young
and you work for a company that's not
massive not too big where you get lost
and you learn things and you get to see
the back end and you get to see how a
master of their craft does something and
you get to take all of this in as a
sponge I mean it's the best thing you
could do for yourself at the age of 17
18 20 21 so just understand the
difference between an apprenticeship and
an internship really the difference is
this one you're going to get time
attention and you're going to get to
really learn the craft of this one
you're just thrown in with the dogs and
you have to fend for yourself no one is
really going to take the time and care
and attention to show you the ropes so I
really think that if you're 21 or
younger when you're making the decision
hey what's my next career move what's my
next step forget about how much you will
earn from it I want you instead to
evaluate how much are you going to learn
from it I want you to look at the thing
that you're going to learn and go hey
you know if I work at this company for
one or two years what skills will I
learn that will make me so much money
it's not even funny at the age of 35.
because listen if you can spend even two
to three years working at the right
company and working your way up through
the ranks you should then take that
experience and use that to launch pad
your own business when the time is right
and listen it's nothing personal with
your old company you should never breach
a confidential quality agreements you
should never be disrespectful to your
old company you should never step on
toes if that company made you who you
are but you take that knowledge you do
something different you offer something
different to the market you offer a
different service a different product or
maybe you even take that information and
partner up with someone and go into a
totally different industry but the point
is you take those skills that you have
learned and you understand and you
realize that this is the most valuable
asset that you have and you use that to
launch pad the next phase of your career
I don't think that people especially
young people truly understand how
important it is to get Insider knowledge
you need to get knowledge of the inner
workings of the business of the industry
now listen the quickest and easiest way
to do that is by investing in education
either investing in your own learning to
properly educate yourself or by getting
a coach mentoring guidance that is by
far the easiest and most effective way
now not everyone has funds for that I
understand some people are not position
so if you don't have funds for that the
best thing that you can do is go out
there associate yourself with a good
company work your ass off you also need
to learn work ethic because here's the
thing once you start working for
yourself or once you start having your
own business I remember what this was
like when I was 17. it's crazy I worked
so much on my company and then also
managing school at the same time but
when I was 17 I already had my company I
already even hired my first employee and
I dropped out of school and it was so
crazy for me to go from such a hectic
schedule to almost having the entire day
free and I actually became so
unproductive because I had too much time
I didn't even know what to do with it so
learning that work ethic and that
schedule is something that's also going
to be extremely valuable for you so as I
said associate yourself with the right
company and by the way the right company
doesn't mean the biggest company or the
company that makes the most money or the
company that even has the most prestige
but the company that is willing to
invest in you and the company that is
willing to give you the best training
and that you'll get the closest
proximity to whatever it is that you
want to learn now here's the thing there
are some companies that are too small
and you're really not actually going to
learn that much and those companies that
are too big that once again you're not
going to learn that much you want to
find that sweet spot of a company that's
not too too big I'd say anything 100 or
less you're still going to learn a lot
and by the way when you're looking to
join these companies even in the
interview process even while you're
trying to secure the job make it clear
that you care a lot less about money and
instead you care a lot more about
training and learning specific skills
and even asking the company hey is there
a budget you know in my companies
there's actually specific budgets for
training listen at some of my companies
I spent a hundred thousand dollars to
train one department on a specific thing
in other companies I spend thirty
thousand dollars for them to all meet up
three days and for them to Mastermind
about a specific problem we're facing
all the way down to small things at my
company every single person can buy as
many books as they want and the company
will pay for it that's just a rule I
have in my companies so whether it be
big or small you want to make sure that
the company is willing to invest in you
because for right now listen if you're
32 it's a different story it's a very
different story I'm not saying 32 you
know you should drop everything work for
free or work for very little and be an
apprentice no no you have very different
priorities at 32 you're in a very
different life phase I'm talking
specifically if you are 21 or younger
you have so much time it is ridiculous
but as I said in life you will not be
able to go far unless you have Insider
knowledge and this knowledge is behind a
wall and that wall means that you either
have to pay to play you have to pay to
actually learn this stuff or you join a
company and work through the ranks and
over the space of months and even years
you get this Insider information so
ladies and gentlemen I know that you
want me to come here and tell you that
there's a secret AI technology that
guarantees that you're going to become a
millionaire and all this BS that's not
the way it works listen the world has
changed of course it is the
opportunities have changed the way that
we conduct business all of these things
have changed but at the end of the day
there's still business principles that
are tried and tested and will always
remain and I don't care if it's 100
years ago I don't care if it's now or I
don't care if it's in 100 years from now
you can never ever ever go wrong by
being a teenager being an apprentice
soaking in as much information as you
have getting The Insider knowledge in an
industry and then a few years later when
you're ready use that to Launchpad and
start your own business start your own
idea start your own Venture and with
that being said as always I'm watching
you from afar
and I'm rooting for you
Weitere ähnliche Videos ansehen
7 Skills That Separate The WEALTHY From the Rest
How to Earn ₹1,00,000+ during MBBS/BDS/PG!
Men Only Need Discipline & Patience - 1stman
Milenial Mau Jadi Entrepreneur? - Video Motivasi Wirausaha Muda
From CA to KING of Stock Market💸 | Become a BILLIONAIRE by Investing | ft. Motilal Oswal @MOFSL
I became a millionaire at 21. Here's 10 lessons for anyone in their 20s.
5.0 / 5 (0 votes)