How to Become a Millionaire (It's Simpler Than You Think!)

Summary

В этом скриптеTodd Johnson, известный как TJ, Millionaire Mentor, делится своими источниками успеха и предоставляет ценные советы по достижению успеха в бизнесе. Он рассматривает важные аспекты, такие как маркетинг, стратегии для начала и роста бизнеса, значимость четкого видения и целей, а также преодоление ошибок, до которых могут дойти предприниматели. TJ подчеркивает важность строительства отношений и приобретения бизнеса, используя различные финансовые стратегии, включая 7(a) кредиты и сделки с продавцами. Он также обсуждает пассивный доход, его собственный опыт с автомобилями и рекомендации по восстановлению после финансовых неудач. В заключение, TJ дает три совета для тех, кто стремится к успеху: начните, продолжайте, сосредоточьтесь на приобретении клиентов и стройте хорошие системы, чтобы ваш бизнес мог расти и приносить пользу вам и вашим сотрудникам.

Takeaways

• 🚀 Самый быстрый путь стать миллионером - помочь многим людям.
• 💡 Когда люди говорят о пассивном доходе, они часто думают о непричастности к делу.
• 🏠 Успех в бизнесе не требует таких высоких стандартов, как многие предполагают.
• 🛍️ Маркетинг - это ключевой фокус для начинающих предпринимателей из-за его разнообразия и изменчивости.
• 👀 Имея четкое видение, вы обеспечиваете себя преимуществом в любых начинаниях.
• 🔄 Основные ошибки предпринимателей включают удовлетворенность достигнутым и отсутствие жестких целей.
• 💼 Начать свой путь к миллионному состоянию можно с любого возраста, главное - иметь предпринимательский дух.
• 🛠️ Сфокусироваться на одном деле и начать с малого, от приобретения первого клиента, - ключ к успеху.
• 💼 Основы бизнеса, такие как маркетинг и продажи, применимы в любом секторе.
• 💡 Понимание важности пассивного дохода и инвестиций может открыть новые возможности для создания наследия.
• 💸 Использование инструментов и систем, таких как QuickBooks и Excel, помогает управлять финансовыми потоками бизнеса.

Q & A

Какой быстрый путь предложил ТДжонсон для того чтобы стать миллионером?

ТДжонсон считает, что самый быстрый путь стать миллионером - это помочь многим людям.

Какую профессию или отрасль ТДжонсон рекомендует для начинающего предпринимателя?

ТДжонсон рекомендует сконцентрироваться на маркетинге, так как в этой сфере много разных навыков и возможностей для развития.

Что такое 'умеренный доход' и как ТДжонсон его понимает?

ТДжонсон считает, что когда люди говорят о 'умеренном доходе', они часто подразумевают отсутствие каких-либо усилий. Однако для создания такого дохода нужно делать инвестиции или покупать бизнеса.

Какую ошибку ТДжонсон считает одной из основных, которую делают предприниматели?

Одной из основных ошибок, по мнению ТДжонсона, является то, что предприниматели становятся слишком уверенными в себе и перестают стремиться к развитию.

Как ТДжонсон описывает свой подход к покупке бизнеса без денег?

ТДжонсон утверждает, что покупка бизнеса без денег возможна через использование кредитов или сделок на условиях продавца финансирования.

Чем ТДжонсон считает, что помогает достичь успеха в бизнесе?

ТДжонсон говорит, что четкое видение и понимание того, куда вы хотите двигаться, является ключевым фактором успеха в бизнесе.

Какой совет ТДжонсон дает тем, кто не имеет денег и хочет начать свой бизнес?

ТДжонсон советует таким людям сосредоточиться на разработке навыков и помогать другим, так как это один из最快的 способов стать миллионером.

Какую книгу или программу ТДжонсон предлагает для людей, которые хотят быстро развивать свой бизнес?

ТДжонсон предлагает свою программу 'Success Club Sprint', которая предоставляет структуру, инструменты, доступ к его менторам и плейбук для быстрого роста бизнеса.

Какой самый дорогой автомобиль ТДжонсон когда-либо покупал?

Самый дорогой автомобиль, который купил ТДжонсон, был Aston Martin, стоимостью около 700 тысяч долларов.

Какой быстрый ответ ТДжонсон дал на вопрос о том, как бы он начал свой путь, если бы знал то, что знает сейчас?

ТДжонсон бы, вероятно, начал с маркетингового бизнеса, чтобы помочь другим людям развивать их компании.

Outlines

00:00

😀 Познавательное встречение с миллионером-ментором

В этом параграфе представлен миллионер-ментор по имени Тодд Джонсон, также известный как TJ, the Millionaire Mentor. Рассматриваются его достижения в создании успешных бизнесов и его философия успеха. Также упоминается его страсть к экзотическим автомобилиям и его стиль жизни, который вдохновляет других предпринимателей. Встреча с TJ в его доме дает понять, что он открыт для общения о своем пути от сотрудника к предпринимателю и делится своими секретами успеха.

05:05

🚀 Разнообразие успешного предпринимательства с TJ

Второй параграф посвящён истории TJ, его началу как предпринимателя и его военной службе, которая влияла на его карьеру. Рассказ о его стартах, о том, как он стремился к успеху, и о том, какую цену он запрашивает на рынке труда после службы. Также здесь подчёркивается важность наличия амбиций и духа предпринимательства, а также непрерывного обучения и приобретения опыта для достижения успеха в бизнесе.

10:07

🏠 Жизненный стиль и видение успешного предпринимателя

Третий параграф фокусируется на жизни TJ после того, как он достиг успеха в бизнесе. Здесь описывается его 'скромный манор', соседство с знаменитостями и его коллекцию автомобилей. Также обсуждается важность четкого видения и целей для достижения успеха, а также как TJ видит свое будущее и продолжает стремиться к новым вершинам, несмотря на то, что уже достиг значительных успехов.

15:08

🛠️ Инструменты и системы управления финансами TJ

В четвёртом параграфе обсуждается, как TJ управляет своими финансами, используя QuickBooks и собственные Excel-таблицы для планирования денежного потока. Также упоминается дашборд, который показывает продажи различных продуктов. Этот раздел подчёркивает значимость организации и планирования для успешного управления финансами.

20:11

💼 Основы миллионной мысли и предпринимательских ошибок

Пятый параграф посвящён миллионной мысли и ошибкам, которые предприниматели часто делают. Здесь TJ делится своими мыслями о том, какая амбиция — ключевой элемент миллионной мысли, и какая роль играет целостность и уверенность в себе. Также обсуждается, как предприниматели могут избегать расслабления и поддержать стремление к росту, установив жесткие цели и не失去紧迫感.

25:12

🚗 Эмоции от покупки суперкара и восстановления после финансовых неудач

В шестом параграфе TJ делится своими эмоциями от покупки своего первого суперкара Aston Martin и важностью восстановления после финансовых неудач. Здесь также обсуждается его личный опыт с финансовым спадом в 2008 году и то, как он преодолел эти трудности, принимая решающие меры и строя хорошие отношения.

30:12

🛣️ Различные подходы к лидерству и их влияние на финансовую успешность

Седьмой параграф фокусируется на различных подходах к лидерству и их влиянии на финансовую успешность компании. Здесь TJ делится своими личными источниками вдохновения и лидерским стилем, который включает в себя немикроуправление и доверие к подчинённым для достижения целей компании.

35:13

🤝 Значение сетей и коучинга для предпринимателей

Восьмой параграф обсуждает значимость сетей и коучинга для успешности предпринимателей. Здесь TJ подчёркивает важность построения отношений с конкретными индивидуумами и того, как это может влиять на их карьеру и успех. Также рассматривается роль коучеров и менторов в его жизни и как они помогли ему достигнуть успеха.

🚀 Путь к успеху и стратегии покупки бизнеса без денег

Девятый параграф посвящён стратегиям покупки бизнеса без предварительных финансовых вложений. Здесь TJ делится своими идеями о том, как можно использовать кредитование и продавцовые условия для приобретения бизнеса и рассматривает различные варианты финансирования, такие как 7(a) заем и продавцовые схемы.

🌟 Основы миллионной мысли и их развитие

Десятый параграф фокусируется на основных характеристиках миллионной мысли и на том, как они могут быть разработаны. Здесь TJ делится своими мыслями о том, что миллионеры обладают определенными качествами, такими как амбиция, решимость и уверенность в себе, и каким образом эти качества могут быть развиты и улучшены.

🛑 Привычки, мешающие успеху, и стратегии избегания ошибок

В第十一章中，TJ讨论了阻碍成功的一些不良习惯，如不忠、酗酒和吸烟，以及它们如何影响一个人的成功机会。他还强调了保持一致性和对自己所做的工作有信心的重要性，以及如何避免这些不良习惯，专注于建立良好的习惯，从而推动成功。

🏆 Какие навыки и качества общи у самостоятельно успешных миллионеров

第十二章探讨了成功的企业家们共有的一些关键技能和品质。TJ强调了真正的雄心壮志的重要性，以及它如何激励人们采取行动并实现他们的目标。他还讨论了自我激励和朝着愿景前进的动力，以及这些因素如何帮助个人实现成功。

🛒 Успешные стратегии покупки и продажи бизнеса

第十三章中，TJ分享了他对于购买和出售业务的见解。他讨论了寻找和评估潜在业务机会的重要性，以及如何识别那些可以提供增长和成功机会的业务。他还强调了早期考虑出售或购买业务的重要性，以及如何利用这些机会来加速个人和企业的增长。

📘 Заключение: Важные советы для достижения успеха в жизни и бизнесе

В заключительном параграфе TJ даёт три важных совета для зрителей, которые хотят достичь успеха в жизни и бизнесе. Он подчёркивает важность начала, продолжения и постепенного роста, а также строительства сильных систем в бизнесе, чтобы достичь масштабируемости и успеха. Также он затрагивает важность сфокусироваться на приобретении клиентов и стремления к прибыли, а не просто к доходу.

Keywords

💡миллионер

Миллионер - это человек, имеющий состояние, стоимость которого превышает один миллион долларов. В контексте видео, миллионер - это象征成功的 TJ, который строит и развивает собственные бизнесы, достигая значительных финансовых успехов. В видео TJ делится своими источниками дохода и стратегиями для достижения успеха в бизнесе.

💡бизнес

Бизнес в видео подразумевает организацию или деятельность, направленные на получение прибыли. TJ, как Millionaire Mentor, основал и развивает несколько бизнесов в различных отраслях, что является основой его финансового успеха. В видео обсуждается не только создание бизнеса, но и его дальнейшее развитие и увеличение доходности.

💡пасивный доход

Пасивный доход - это доход, который получается без активного участия в процессе его получения. В видео TJ упоминает, что часто люди имеют ошибочный взгляд на пассивный доход, представляя его как нечто, что приходит без каких-либо усилий. Однако, он подчёркивает, что для создания пассивного дохода требуется инвестиция времени и ресурсов вначале.

💡маркетинг

Маркетинг в видео выступает как ключевой аспект успешного бизнеса. TJ утверждает, что маркетинг включает в себя множество навыков и дисциплин, таких как покупка рекламы, копрайтинг, создание базы электронной почты и т.д. Умение в маркетинге позволяет предпринимателям привлекать клиентов и расширять свои возможности на рынке.

💡виза

Виза в контексте видео означает четкое представление о том, к什么地方и или насколько высокий уровень успеха человек стремится достичь. Успешные предприниматели, такие как TJ, имеют четкую визу своей миссии и понимают, как добраться до своей цели. Это позволяет им делать более эффективные решения и двигаться в нужном направлении.

💡ошибка

Ошибки в видео рассматриваются как неизбежные и важные для роста и развития как предпринимателя, так и бизнеса. TJ делится своими ошибками, такими как удовлетворенность достигнутым успехом и отсутствие жестких целей, которые могут замедлить рост бизнеса. Он подчёркивает важность изучения из ошибок и их исправления для продолжения развития.

💡маржа

Маржа в видео описывается как пространство для прибыли в бизнесе. TJ утверждает, что уровень успеха в бизнесе не так высокий, как многие думают, и что для достижения успеха важно понимать, как создавать и увеличивать свою маржу, то есть разность между затратами и доходами.

💡продукт

Продукт в контексте видео - это что-либо, что создается или продается для получения прибыли. TJ упоминает создание продуктов, таких как книги и диетические добавки, как часть стратегии развития своего бизнеса. Продукт является основным источником дохода для многих предприятий и ключевым для их успеха.

💡успех

Успех в видео определяется как достижение определенных финансовых и бизнес-целей. TJ, как Millionaire Mentor, рассматривает успех как результат постоянного труда, стратегического планирования и непрерывного обучения. Он подчёркивает, что успех требует времени, усилий и не всегда приходит легко или быстро.

💡бизнес-план

Бизнес-план в видео представлен как важный инструмент для определения путей достижения успеха в бизнесе. TJ и его дочь создают план на достижение миллионера к 25 годам, что демонстрирует значимость четкого планирования и конкретизации целей для достижения финансовой свободы и успеха в предпринимательстве.

Highlights

Todd Johnson, also known as TJ, the Millionaire Mentor, has built multiple seven-figure businesses across various industries.

The fastest way to become a millionaire is by helping a lot of people.

Passive income is often misunderstood as not doing any work, but it requires smart investment and strategy.

TJ emphasizes that the bar to become successful in business is not as high as people think.

TJ's background includes a humble start in South Carolina, military service, and a natural entrepreneurial spirit.

After military service, TJ pursued higher education and used it to build a skill set for high-paying jobs.

TJ's first business was a consulting company, which he later left to start his own ventures.

TJ's approach to business includes focusing on marketing, leveraging skills like ad buying, copywriting, and email list building.

TJ discusses the importance of having a clear vision for success and how it guides actions and decisions.

TJ shares his experience of financial setbacks and emphasizes the importance of a resilient mindset.

TJ's leadership style involves setting people free to do their best work within a clear strategic direction.

TJ explains how to build passive income through investments and smart business acquisitions.

TJ's advice for new entrepreneurs includes building skills, starting with one customer, and scaling up.

TJ discusses the importance of setting hard goals and maintaining a sense of urgency to drive business growth.

TJ shares insights on how to manage finances using QuickBooks, Excel spreadsheets, and custom dashboards.

TJ emphasizes the importance of decisiveness, risk-taking, and building relationships to recover from financial setbacks.

TJ's views on leadership highlight the impact of a CEO's focus on the company's direction and growth.

TJ's Success Club Sprint is a program designed to help entrepreneurs grow their businesses through structure, tools, mentorship, and a clear playbook.

TJ advises entrepreneurs to focus on building good engines for sales, marketing, delivery, and operations to scale their business.

TJ's biggest regret as an entrepreneur was not buying businesses sooner to accelerate growth and create opportunities.

TJ concludes with advice to get started, keep going, focus on building good business engines, and acquire customers efficiently.

Transcripts

- Todd Johnson is not just a millionaire.

He's built multiple businesses across industries,

into seven figures and beyond,

giving him a nickname of TJ, the Millionaire Mentor.

- The fastest way to become a millionaire

is help a lot of people.

When people say passive income, they almost think about

not doing anything at all.

- Man, this thing's a beast, TJ.

- [TJ] The bar isn't as high as people think

to become successful in business.

- Do you wanna know how he builds his business every day

and how you can follow in his footsteps?

Well keep watching to find out more.

(upbeat music)

We're surrounded by incredible exotic cars.

I can't wait to meet TJ, the Millionaire Mentor.

His beautiful crib, let's go check it out.

I bet he's waiting for us inside.

I'm just gonna go and walk right in.

I'm sure he's here.

- Hey, what's up man? - TJ.

Good to meet you man.

- Good to meet you too, bud.

I'm excited. - Yeah, me too.

Let's dive straight into it.

- Yeah?

- That is breathtaking.

- [TJ] Thank you.

- [Paul] This is your place.

- [TJ] Yep, this is my place. So welcome.

- [Paul] Thank you. - [TJ] Welcome, welcome.

- [Paul] For those that don't know you.

- [TJ] Yeah.

- [Paul] Give us a little bit of a background

into your story and when you went from

employee to entrepreneur.

- Hey, I came from South Carolina,

Columbia, South Carolina. - South Carolina, okay.

- Sort of a poor background.

So being an entrepreneur, being ambitious,

was something that just came naturally

because I wanted to get out of

the environment that I was in.

So I was delivering newspapers, cutting grass,

doing all those sorts of things just to make money

so that I can have extra food or-

So the entrepreneurial spirit has always been there,

being ambitious has

always been there. - That's amazing.

- [TJ] But I went in the military at 17.

- [Paul] What branch?

- The Air Force.

- Thank you for your service. - Went in the Air Force at 17.

Thank you, thank you.

Went in the Air Force at 17,

was in the Air Force for like six years.

Went to school while I was in the Air Force.

Studied computer science,

started doing every job I could

while I was in the military to get experience.

And then when I got out the military, I wanted to get a job.

I determined how much money I wanted to make

by how much the highest paid military person made.

So when I got out- - That was your standard.

- Yeah, when I got out, I asked for that amount

and everybody laughed at me.

And so what I did is I said,

"Well, what would it take to make that amount?"

And they would tell me and I would write it all down

and I would try to build that skill set

and that experience to go out and get that amount of money.

So, that's how I got my first job outta the military.

Did that, got a consulting job

working for a consulting company,

and left that company and started my first real business.

- That's awesome. Very inspiring.

You guys, keep watching because you'll hear more from TJ

about the millionaire mindset,

about the skill sets that you need

to really make it to this level.

(upbeat music)

You've got a beautiful place.

Give us a quick snippet of where we are,

and man, I can't wait to see your car collection.

I share that passion with you, TJ,

like 110%. - That's awesome.

- So I can't wait to see and show our audience as well.

- Yeah, it's perfect, yeah.

So I call this a humble manor,

because when I look out, I'm looking out,

I see Ashton Kutcher's house,

then there's Justin Bieber's house that's being built,

and then there's Mark Wahlberg's house.

- Mark, I love Mark. - Which bumps to this.

- Man, you're in the right spot.

- Yeah, so it's humbling, right?

It just keeps you humble, 'cause you see it

and you go, "Wow," there's always things to achieve,

and you realize how blessed you are to be here.

- Absolutely. - But there's a lot more

that we can do.

- Yeah, this is not your ceiling.

- Yeah.

- Right, you gotta break through the next one

and the next one.

- Yeah.

- Building a business to seven figures.

- Yeah.

- What would you recommend one entrepreneur focus on?

Maybe he's just getting started.

- Just getting started.

I think. - Yeah.

- I like marketing. - Marketing, okay.

- I like marketing, 'cause there's all levels.

There's so many different skill sets

and so many different nuances in marketing.

There's ad buying, there's copywriting,

there's email list building, there's graphics,

there's all types of stuff that you can do right now.

Streaming is huge, right?

And there's all this new technology

that people have to understand, right?

So marketing's always changing, always growing.

And so it's something that you can dive into,

get really, really good at, and then offer that service.

So it's really easy.

- It seems like a lot of people are doing marketing.

- Yeah. - Don't you think

it's a little oversaturated?

Or you can always do something better than somebody else?

- No, it's not even about better

than someone else all the time.

I mean, when you think about it,

how many water companies are there, right?

- [Paul] Tons. - [TJ So you'd be Like,

if I came here, I got this idea.

Wanna start this water brand? It's, "Get outta here."

- You're crazy, right?

'Cause it's already a saturated market.

- You're crazy, and so the example I use all the time

is there's a brand called Hint.

So the whole idea is there's a hint of flavor.

- [Paul] Hmm.

- So there's always been water brands, right?

So there's water brands with a lot of flavor.

There's bubbly water, there's sparking water,

whatever, right, there's all types of water.

But Hint came in and they're killing it.

If you look at evaluation and you look at all that stuff,

they're just absolutely killing it.

But they've only been on the scene

for the last few years.

But you would've said that-

- [Paul] They'd be crazy to get in?

- It's saturated. But they have a position, right?

We're only gonna have a hint the flavor,

they had cool branding.

And if you can market water today, then what is saturated?

- How does having a clear vision

achieve or help you achieve the level of success?

- I mean, that's it, right?

- Is that it? - That's everything.

It's important because it's like,

you know, no matter what you're doing,

if you're driving cars,

your vision is one of the most important things.

How well you see, if you're boxing, you're fighting,

how well you see gives you a huge advantage.

So how well you see where you're trying to go

informs your activity.

So based on how well you see, right?

How clearly you can see things, you can then go,

"I know exactly where I'm going, what I'm doing,

"and why I'm doing it."

And typically, you can see things better

than other people or sooner than other people.

So with that, you have a lot of confidence in how you move.

I see what I see, you might not be able to see it,

but I know if I go off and buy this car, as an example-

- That could be a distraction.

- Because I know, well it could be a distraction,

but it could also be-

I think Jay Leno said, man, it was his best investment ever

is when he bought his McLaren F1.

'Cause that car is now 30 million.

- Geez. - But he knew

because he saw something that other people didn't see.

Usually cars aren't gonna ever be the best investment

you're to make. - No.

- But he had a vision and he's able to follow that vision.

Now, skewed is you're trying to convince your wife

you need to buy that car, right?

And you're saying that now you're skewed,

it's cloudy. - That's true.

- Because you have an ulterior motive

and you're buying it not because you see something

that the world doesn't see or everybody else hadn't see yet,

but you're just trying to convince yourself.

- We all make mistakes.

Entrepreneurs probably make more than any other individuals.

- Yep.

- What are the top three or one that comes to mind

in terms of mistakes made by entrepreneurs

that prevent them from growing revenue?

What's personally have you experienced you can share?

- Getting too comfortable.

- Getting too comfortable.

- Yeah, getting too comfortable

is one of the biggest mistakes that we make

because, I mean, we work so hard.

You're trying, you're grinding, grinding,

you kind of figure it out and then you get comfortable.

And so I think- - That's always a temptation.

- Oh yeah. I mean, that's gonna happen, period, you know?

The other one is not having guideposts, having goals,

having numbers that you're chasing,

because you're working for yourself essentially.

You're never working for yourself,

you're working for your customers.

You're working for your employees.

So you're never really working for yourself,

but you know, that whole idea, you're working for yourself.

So you don't have someone to answer to

that says, "Wait a minute."

As long as you can pay everybody and you can get paid,

then you're okay.

But you should have goals that are pushing you forward

or pulling you really hard to a particular thing.

If you don't have those things, you tend to ease up.

So one of the big mistakes is not setting hard goals,

doing hard reviews to say, "How do I get there?"

And continuing to have a sense of urgency

around achieving those goals.

If you're doing that, you're staying hungry,

you're moving fast, you're moving hard,

you're making the right decision,

you're not adding a lot of fat.

And if you do that, I think you'll continue to grow.

- Standing next to these cars, I'm truly inspired.

For somebody that is feeling the same way,

I'm sure a lot of you are.

But has no money, has that passion to be an entrepreneur,

to become a millionaire.

Where would I start to get on that path?

I have no money, I don't have a lot of assets, TJ,

but I want to get to where you are.

- There's no generic answer, right?

'Cause it depends - Absolutely.

- On who you are

Do you have- Are you amazing at sales or marketing?

Are you amazing at some technical skill

or some gift that you have?

For me, I was a coder.

And I leveraged that into building a consulting company

where I could train other people to do what I did,

so that I built a company.

As a younger person, someone getting started.

- Right?

- One, you have to build a skill.

If you can't help people, I mean,

the fastest way to become a millionaire

is help a lot of people.

- That's pretty cool.

And what's amazing about that, TJ,

is it's not age limited, right?

You could be a teenager and start a company

under your parents' name or something like that

if you have that entrepreneurial mindset

from a young age like you did.

- Yeah.

- That's what's pretty inspiring.

- Yeah, and my daughter, she has it.

- Yeah, yeah.

- So she just got her first customer.

- [Paul] And she's only 20 years old.

- [TJ] And she's doing social media management.

- [Paul] That's beautiful.

- So social media management.

And the idea for us is, how do you get

to become a millionaire by 25?

So we sit down and we build that plan,

and so we decided here's what we're gonna focus on.

There's a lot of things to focus on.

But the important thing is the focus on something and start.

Some people are trying to figure out,

"Well, I can't get to a million."

And that's not how it starts, bro.

It starts by getting one customer

and then figuring out how to keep that customer

and then figuring out how to build a process

to keep that customer.

And then figuring out how to build an engine to do the work,

without you having to do the work.

- That's where the people come in.

- Yeah. Yeah, so you have to start there.

But some people are trying to start way too big, right?

Well this wouldn't, this won't make me a million dollars.

So they spin their wheels, they're in spin cycle.

- Don't spend your wheels, you guys.

Listen to TJ, he knows what he's talking about.

What is your main focus right now, TJ, as an entrepreneur?

I'm sure there's shifts that occurred

over the past couple years.

Why? How did you come to that decision?

- Yeah. - Anything else

you wanna highlight?

- Yeah, there's basically three focuses, right?

There's me building as the CEO of our weight loss brand.

So we built that brand to help people lose weight.

And we started building supplements.

So it's called ADIVA Publishing.

- [Paul] Got it.

- But we have a brand, a focus brand,

health focus brand, liver focus, blood sugar focus,

flat belly focus, flat tummy focus, sorry.

So we have that brand of supplements that we sell.

With that, I'm helping- I'm focused on us

developing other supplements,

partnering with other companies,

buying other companies so that we can grow that business.

So that's sort of my primary focus.

Secondarily though, I coach.

So I'm helping people build their businesses.

So building my brand and helping coach entrepreneurs

at a high level to accelerate their growth.

- In any kind industry, right?

- Yeah, across industry.

I mean, being an entrepreneur,

there's some fundamental things that are truths.

- Yes.

- That are always gonna be there.

And I know how important mentoring has been to me.

And then the last one is,

as an acquisition entrepreneur, buying companies.

- Interesting.

- And yeah, and moving along that way.

- Let's talk about passive income.

I mean, is it real estate?

Is it important for entrepreneurs?

Obviously I would think it is.

But what can you touch on that?

I wanna extract a little bit about that,

'cause we have companies we can build,

services we can offer, products, but then,

what if I as an entrepreneur,

wanna create passive income for me and my family

and create that legacy?

- Yeah. So there's-

Okay, so one, when people say passive income,

they almost think about not doing anything at all, right?

- Yeah. It comes through to mind.

- Right, right.

So to make passive income, so there's investments.

Like securities. - [Paul] Right.

- There's some real estate investments

or REIT or whatever, right?

There's certain things that you can do to invest

and you don't do anything.

And I have a couple investments like that.

Like a huge project in DC.

- [Paul] I saw that. - Where I'm make an investment

but I'm not doing anything.

But I have no control, waiting on money to come, whatever.

And that's cool,

but you have to have a lot of money to do that, right?

And by the time you get to a point to make

that kind of passive investment in terms of real estate,

you have a lot of money, you become pretty sophisticated.

But one thing that people don't think about,

in terms of fairly passive income, is buying businesses.

So you can become an acquisition entrepreneur,

buy businesses, you can buy businesses

with no money down, all the time.

It happens every day, all the time,

where you can buy businesses,

and that can be fairly passive.

In terms of- - Sounds really interesting.

- Yeah.

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this portion of the video.

What systems and tools do you use, TJ,

to manage your finances?

- So quickly, QuickBooks, use that.

- Do that all the time?

- And then I think the big one is

we have a cash plan that we manage.

So basically that's like a projection of what's going out,

what's coming in, what's expected,

you know, what the cash flow is gonna look like

on a month to month basis, so I do that.

- What software is that by the way?

- It's Excel Spreadsheet.

- Oh, gotcha.

- To do a budget essentially for-

but it's a cash plan.

Where's the money gonna go every month?

- Is that something you created?

Or you just bought something?

- Yep. It's something I created,

used in my previous businesses.

- I see. - And use in

my current business to say,

"Hey, where's the money coming in? What's coming in?

"What's going out? And how are we using this money?"

So it lets me know what buckets to put money in

and how to allocate stuff.

- Interesting. So it's pretty simple.

So just two things, QuickBooks and then Excel spreadsheets

that you've developed- - Well also use a dashboard,

that tells me every day how many things are selling

in terms of whether it's books, whether it's supplements,

whether it's classes, whether it's challenges,

whatever it is, right?

So that's a dashboard that we have someone create.

- Let's continue the conversation in the car.

Take a loop around Beverly Hills.

- 'Cause the- The car.

- Yeah. I love Ferrari's.

I mean I take a Ferrari over Lambo,

the sound, the experience.

So if you don't mind, - Yeah.

- Let's hop into this beautiful car.

- Yeah. - Continue on?

- Yeah, let's do it.

- This car?

- Yeah, this one.

(engine rumbling)

- Man, this thing is a beast, TJ.

- Yeah. 12 cylinders.

- [Paul] Oh, this is a 12?

- Yeah. Yeah.

(engine revving)

- Woof. Beautiful.

Financial setbacks can kill somebody.

- Yeah.

- As an entrepreneur,

I'm sure that's gonna hit you at some point in time.

How do you recover? Because some do, others don't.

- Well, yeah, I think it's a mental mindset.

I mean, what's the alternative to not recovering?

- I mean...

- Dying, going out of business?

- Get stuck in that mindset for too long maybe and...

- Yeah. Yeah, I mean, there's no-

I mean, you gotta recover, right?

So you have to have the mindset of recover.

So it's almost like, what's the option?

There's no other option.

Rock bottom, for me, I think one of the worst times

has been where the economy turned

and my customers went out of business.

So I had a customer- - Are we talking 2008?

- Yeah. Customer owed me $780,000.

- Oh wow.

- And went out of business.

- That's gonna provoke you to figure some things out.

- You survived in 2008.

- Yeah, for sure.

- What two, three things helped you get through it?

- I think being decisive in terms of making decisions,

making some really, really hard decisions.

Taking a little bit of risk.

Those are things that help,

and having great relationships and being blessed.

I mean, you know- - Right.

- I've always been blessed.

But those are the things that help me.

But I think being decisive,

also, not having an out, you know?

I didn't have-

- Like divorce is not an option.

Similarly. - Yeah, that kind of thing.

It's like if it's not an option, it's not an option.

- It's not negotiable.

- Yeah. You gotta survive. You just gotta figure out how.

- Let's touch on leadership approaches.

They're different, they vary.

- Yeah, yeah.

- How does that impact financial growth

for a firm, for a company?

What have you learned in your years?

- Yeah, it's everything, right?

Because the way the CEO goes, the president goes,

goes the company.

So if the president, CEO is focused on profit,

that's what everybody else is gonna be focused on.

To focus on customer, to focus on growth,

whatever they're focused on

is what the company's gonna be focused on.

So it's crucial.

- What's your leadership style?

- It depends on where I'm at.

Right now, I'm really focused on profit and growth.

I'm not a micromanager at all.

I like finding people and release 'em into the wild,

making sure they have the skill set

and release 'em into a wild.

Because I'm not generally a first line manager.

I have very few people that work for me directly.

I like people that I can trust from a leadership standpoint,

to go off and go do things

because I'm really the guy that's gonna go off

and do more strategic kinds of things.

- All right, blitz time with TJ, the Millionaire Mentor.

The rules are quick answers.

- Quick answers.

- Thank you guys for submitting your questions.

First one's from Logan.

Logan's asking, "If you were to start all over again,"

TJ, "What would you do with what you know now?"

- I'd probably start a marketing business, today.

There's so many people that need help in marketing

and building their businesses.

That's where I would focus.

- Brenetta is asking,

"What is the most expensive car you purchased?"

- Ooh, probably...

They're all a couple, the SVJ or the Superfast.

700ish thousand, yep.

- Okay.

Mike James is asking, "What it felt like

"buying your first super car?"

You can elaborate on that.

I think I want to hear a little bit more of a longer answer.

- Amazing, man.

I mean, I bought an Aston Martin and it was amazing

'cause I looked for a long time,

to figure out what I wanted and finally bought this car.

You can't even go test drive it, you know?

And so I bought this Aston Martin at the time

and it was pretty special hand built car.

All the things I like about a car, the sound,

the quality of the car, the way it looked,

the aesthetic, the speed.

Yeah, the power is pretty amazing.

- Last question here is from,

I think it's called Ilyaan, is asking,

"What is the easiest hustle you can start

with one year and has growth potential?

- I mean, I don't know because it's sort of a misnomer,

easy business idea.

It sort of has failure written all over.

- I agree.

- Because it's like, "Oh, I'm looking for an easy way

"to go out and make money."

Ah, okay. I don't know man. You know, I don't know.

That's the answer. - I don't know.

That's a true answer. - I don't know.

Thank you guys for submitting your questions.

We really, really value and appreciate you.

What about niches that in this environment,

especially heading into 23 and 24

with where the economy is, globally,

what would your advice and just from your experience,

be certain niches that you know, like,

"Eh, nah, I probably wouldn't touch that,"

Why and why not?

- I mean, one of the niches that I think suffer

during economic downturn

is some of the personal services niches.

I get my cars washed all the time, right?

- [Paul] Yeah.

- It's like, "Ah, wait a minute.

"I don't need to get my car washed every week.

"I can get it washed every two weeks now."

You know what I mean?

Maybe I can get it done every three weeks or whatever it is.

My point is, is that certain things,

it doesn't mean you can't go into those things.

It just means that you're gonna have to work

a little bit harder and understand

that this is what's going on.

But I don't think just because the market is turning

that you say, "Ah, I'm not gonna do that niche."

- All right.

- I think you figure out what it is that you do well,

what it is that you're gonna offer the market,

and then you start.

Because what happens is that thing

will lead you to the next thing.

- That makes sense.

- It's not where you always start.

- Different thinking you're talking about.

- Yeah, yeah, yeah.

Yeah, for sure.

- What are the defining characteristics

of a millionaire mindset?

- One, ambition.

Can do, will do, gonna do, it's just a matter of time.

I'm keeping it at this thing.

There's this resolve and there's this quiet confidence

that knows that, "Hey, I'm on the right track,

"I'm doing the right thing. I can do the right thing.

"No matter what happens, I'll get back."

I used to always say, "If I bumped my head today

"and forgot everything I knew about technology,

"I'll still become a millionaire."

- Are some of those things

you're born with versus developed?

- You know, there are some people

that have better judgment than others.

Some people have better intuition than others.

Some people have better charm

and better charisma and stuff than others.

But I think a lot of things can be built,

in terms of skills to become successful in business.

The one great thing about business,

is that when you think about athletes,

think about athletes at the highest level,

these guys gotta be the best at it.

- Absolutely. - Right?

The best at it.

They're not gonna be there.

Entrepreneurs don't have to be.

There's plenty of entrepreneurs,

plenty of millionaires that are pretty average.

- I'm shocked to hear it.

- Beating people.

Yeah, there's a lot of people that are beating people

by just doing the work.

And a lot of times most entrepreneurs

aren't really at the top of their game.

There's some that are really, really killing

at the top of their game,

but a lot of entrepreneurs and a lot of people

that are making millions are really just above average.

So my point is, is that the bar isn't as high

as people think to become successful in business.

- How do you buy business today without any money down?

'Cause you mentioned that. Sounds unrealistic.

- So there's a lot of ways to do it.

I'll give you a couple ways.

- Okay. - So you can buy business

and you can do what is leverage financing.

And so when people think about leverage, buy out

or something like that,

they think about some aggressive thing

where you're coming in and you're pushing somebody around.

But to buy it on leverage is you buy an existing business.

Let's say there's a company that has

mobile detailing businesses all over.

The guy's been doing it forever,

he doesn't have a kid,

he just wants to get outta the business he's done, right?

So let's say he makes a million dollars a year.

- Okay.

- He wants X amount for that business.

He wants $300,000 for that business,

$400,000 or a half a million, whatever the number is.

What has to happen to buy that business

is that that business has to be able to service the loan

that it's gonna take to get the $500,000 out

or the 300,000 out. - That makes sense out.

- So if that business can service that,

the income, the cash flow can service that,

and that guy can figure out how to run that business

without that entrepreneur, then he can buy the business.

And you can get a loan through something called a 7(a) loan.

- 7(a). - 7(a).

- Interesting- - Is a government backed loan.

- I've heard of SBA, but never 7(a).

- It is a SBA loan, but it's a 7(a).

- We'll have to check it out, - You can do that,

or you can do seller financing.

Or you can say to the guy, "Hey look, I'm gonna pay you

"and I'm gonna give you a certain amount."

And that can actually come out business,

but I'm gonna give you a certain amount

and I'm gonna pay you a certain amount

on a quarterly basis, monthly basis

until it's all paid off.

- As a new entrepreneur, TJ,

I would imagine it's hard for me to be involved

in some high net worth network groups, right?

Where would your advice be to where can I start

to at least start building relationships, like yourself,

and how important is that for you

as an entrepreneur, ultimately?

- Yeah, building networks are super important,

but I think you have to look at it

instead of like this broad term,

"I'm building this network," you know,

"I'm building a relationship

with a particular individual," right?

- Sure.

- If you look at it that way, I think that's more helpful.

So in that way, do it one person at a time

and really build a relationship with them.

And when you're building a relationship with someone,

it's like, "Wait, what do we have in common?

"How can I add value to your life?"

So now that I know you, I'm gonna be like,

"Hey Paul, this guy, man, would be great for your show.

"You guys are located near each other, blah, blah, blah."

That's adding value to you, right?

- Right. - You know more about me.

You be like, "Hey TJ, man, here's some business.

"Somebody wants to sell their business"

Or someone needs help or someone needs mentoring,

you might send 'em over to my way.

So that's building authentic relationship,

by providing real value with people.

So where are people gonna find those high value networks?

Just in normal places? Like go to car meets.

There's high value

individuals at car meets. - That's true,

lotta people there.

- And so you can vibe on the love of cars,

you can vibe on the love of anything, archery,

it doesn't matter what it is.

Whatever the hobby is, go do that thing.

Go be around that thing in an authentic way

because people will sniff out you being fake.

But the other thing is with the networks though,

don't be afraid to ask the question.

Don't be afraid- - That's important.

- To use the network.

Because sometimes people build these relationships

but are waiting for the special moment

when they can ask the person a question

or try to activate their network.

Ask people the questions

that you need to ask them to move forward.

- Let's talk about briefly, the value and the role

coaches play in your life as an entrepreneur,

and those watching, how important are they?

What do they contribute to the business

in your life overall?

- Coaches have always been important for me.

When I made the transition

from being an employee to an entrepreneur,

I called my mentor and I told him,

I said, "Hey man, I just got fired."

He said, "Hold on a second."

And he put me on speaker phone

and he said, "Say it again," "I just got fired."

And then he said, he just started laughing.

He said, "This is awesome."

I was like, "What?"

- You're celebrating?

- Yeah, he's celebrating, I just got fired.

And he's laughing. He said, "Well this makes you do

"what you should have have done a long time ago."

I think another entrepreneur that I got,

the first entrepreneur that I paid for,

I paid him $50,000 to be-

- A good chunk of change.

- Yeah, yeah, to be a mentor for a year.

And this was a while ago.

And immediately, you know, out of that process

of going through that whole program,

I 10Xed that money that I paid him.

- If I don't have that money, TJ,

and I'm watching this interview

and I'm like, "Man, I need a mentor."

What other ways can you be "mentored,"

without the $50,000 investment?

What other avenues of mentorship can people find?

- There's obviously YouTube and Instagram

and there's things like that where people give you bits of

nuggets of information.

And so that can be helpful.

I think Les Brown has been a mentor to me my whole life

and I never met him, but sometimes you need specifics.

And so you can learn from people,

being coached and mentored by someone is different.

You know, go help someone else in their business.

And that was one of the things I did often

was go help people in their business

and they in turn help me.

- That's amazing. - So that's one way to do it.

But yeah, but usually you can find some sort of mentor coach

that can help you at the level that you're at

and people should not be afraid of investing in that.

But people are.

- Earlier in the interview, you mentioned acquisitions

as your third pillar that you focus on as an entrepreneur,

acquisitions of current companies.

So what are some things you look for

that really get you excited about possibly acquiring it?

And on the flip side, what are some red flags

that you say, "eh, I'm gonna pause and not do it?"

- Yeah, good entrepreneurs, good people,

profit, good systems and good predictability.

Meaning that, hey, the reason why they're making this money,

I can see why that's making that money

and it's gonna continue to do that.

So being able to answer those questions,

there's a lot more detail in terms of

the things that you build for acquisition targets

that match you or me, for instance.

But that's the sort of down and dirty.

In terms of things that are red flags,

are bad people, bad entrepreneurs.

And you know it through vibe, know it through energy,

you know it through, you know,

the stuff that they're doing in the business.

- Is that just something you develop

this intuition over time?

- Yeah, we all have that.

Where you go, you know, you can ask your daughters this,

is a good person or bad person?

- That's true. - Right?

- Sometimes you can ask a six year old she'll tell you.

- Yeah, you can have a pet, you know?

And a pet says, you know,

somebody comes in the door and a pet goes, (growling).

(low growling)

You know, so sometimes it's that obvious.

- Yeah. - Sometimes it's not.

- You know, I hear a lot of, some business guys say,

"You gotta be passionate about something

"in order to achieve this level of success."

How true is that?

And specifically for you in your life,

what's your advice to people watching us right now?

- Yeah, I think passion gets people in trouble all the time

because - Overrated?

- Yeah, I think it's overused and misused, mishandled.

So I think you gotta be passionate about why you do it.

- Passionate about why.

Instead of the what. - Yeah.

Let's say you cut hair.

- Okay?

- You don't need to be passionate about cutting hair.

I wasn't passionate about coding,

I was passionate about being successful.,

I was passionate about building a life.

So that's why I spent the extra hours

and the extra time doing it.

And that was the tool that I needed to build a business

or build a life, right?

So I was passionate about why I did it, not the coding.

Progress, begets passion.

So if you start to learn something,

you start to get good in something and people sort of say,

"Hey man, you're doing a great job,"

you're gonna build more passion for it,

more love for it. - I can see that.

- "Man, you're doing a great job."

"Man, you are just amazing in front of the camera."

Wow, cool. Let me do more of that.

You get no progress, the passion's gonna die probably,

But the more progress that you get,

it's going to beget the passion.

So I think people need to

just get busy focused on something.

Pick that thing, start doing that thing

that you'll get, you'll feel the passion around that thing

as you start to develop some success in it.

- Talking about self-made millionaires,

what is one skill or trait that you think you guys share

amongst each other that would top the list?

- I think the thing that we share.

- Yes. - In terms of entrepreneurs.

I think the thing that you'll see is ambition.

Like real ambition, not fake ambition.

Real ambition makes you go out and do work,

makes you do things, make you move.

Sometimes you can be ambitious.

Yeah, I'm ambitious and you just daydreaming,

you're thinking about things, you're reading another book,

you read another book.

But real ambition is gonna make you get off your butt

and go do something. - Execute.

- And that is the thing, 'cause it's really,

at the end of the day, as trite as it sounds,

it's about how bad you want it.

'Cause if you do want it bad enough,

you'll figure out all that other stuff.

But the guys that are the self-made guys,

they're self-made because they're self-motivated,

they're ambitious, and they're moving forward

towards that vision that they have.

And so this is about having real ambition.

- Share with us more information

about your Success Club, Sprint,

and where did that, you know,

where did the idea come from?

What's the goal?

And where do you see that five, 10 years from here?

- Yeah, so the Success club, Sprint is my program

that is, you know, we run it in a Sprint format.

So there's four things that people essentially get,

and it's four people that are starting a business,

have started a business, but trying to grow,

aggressively grow their business.

So you get four things.

One, you get structure where we're all focused together

with a specific period of time, time of day,

time period for 90 days, focused on growing your business.

So you got this time where you block it off,

I'm working on my business

as opposed to in my business. - Together as a group?

- Together as a group.

So we have virtual meetings,

we're working on things together.

You have a portal that kind of

takes you through the process,

some things that are really important.

Some tools that you need to manage your business.

Like, you asked about some financial tools.

So here are the tools, a cash plan,

you know, these types of things that you need

to manage your business.

So you're putting these things together,

you get access to me and my coaches that are amazing people

that have all built business and done these things.

So you get to get unstuck when you're stuck

trying to grow your business,

you're trying to do things or you're trying to Google stuff

that you can't find the answer to

or you need somebody to say,

""Hey, let's go this way or that way,"

or to help you with your pricing, for instance,

or whatever it is.

So to work through that stuff.

And then the last thing you get is you get a playbook

that says, "Hey, if it was me,

"here's what I would do to build a business today."

And you see me take a business from scratch

and go all the way through with all the things

that you build from the offer to the webpage,

to all that stuff.

Here's all the tools I would use,

here's the approach I would use

to going out and getting partners and stuff like that.

So you get those things in a 90 day sort of sprint.

When I charge for people to come in

and do mentoring coaching, and I break their business down

and I try to figure out the best opportunities for them,

that's like a $20,000- - I bet.

- Six hour thing, right?

So a lot of people can't afford that.

But they can afford working with me in this way

and get a whole lot out of it, right?

So it's the best bang for their buck,

in terms of getting value

and getting focused on your business.

- That's it.

What are the day to day habits that I should focus on

to just develop and continue to develop

that millionaire mindset?

Like anything is possible.

- Yeah, yeah.

I think starting early, you know, getting up-

- Getting up.

- Getting at it early.

You know, my whole idea is to get more done by noon

than most people do all day.

- Oh wow. - So that's one.

I think building lists of things that you're gonna get done

and committing to getting that thing done that day.

Helping to inspire other people is important

because it actually, you're preaching to the choir,

you're inspiring yourself.

When you're going out you're like,

"Hey look, let me-"

I got a lot of people that I coach and mentor,

so it's like, hey, I'm coaching and mentoring those people,

and in that case it could be your little brother,

your little sister.

But my point is - Starts at home.

- Yeah. Just living a life that would inspire you.

- Love that. - Just keep doing that.

And also having a night routine as well.

So having a way to end your day

so that you can get off to a really fast good start.

- What's the flip side of, you know,

habits that sabotage the success

that we can achieve in our lives?

- Yeah.

Not being consistent, not wanting to be consistent.

I think you have to have a little bit of faith knowing that,

"Hey, I'm doing this thing,

"it's gonna lead me to where I want to go."

And I think that's important.

but I think some of the things that really, really kill

your ability to be successful,

and I mean, I don't even know if I can say this on your,

on your channel- - Whatever's on your heart.

But you know, guys out chasing skirt all the time.

Guys out drinking too much or smoking weed

and stuff like that.

That kind of stuff is gonna kill your chances for success.

And what I mean by that is like,

the things in and of themselves is not maybe those things,

but you can't get up, right?

You can't beat the same you that's not doing those things.

- TJ, what are some of the biggest regrets

that you have as an entrepreneur,

and what you've learned from it?

- I think the biggest regret as an entrepreneur

is that I tried to grow organically for too long,

instead of buying a business.

if I could do it differently,

I would've bought businesses sooner so that I could grow.

Because if I did that,

I would've created much more opportunity

for the people around me.

I would've built faster.

Yeah, so I think that's my biggest regret.

And I think one of the things that I would say

to your viewers is that,

it's never too early to think about selling your business.

And it's never too early to think about buying a business.

- All kinds we're talking about, right?

Not a particular niche that you per se want to have,

but anything that has to great opportunity?

- Well you wanna think about businesses that you understand,

things that you understand because you know,

in doing your due diligence or

how you're gonna manage this business,

how you gonna go forward with it?

You want things that you understand.

But yeah, there's all types of businesses

that you can look at.

Things from manufacturing, to service businesses,

to marketing businesses, to printing businesses, to-

- A lot of opportunity out there, right?

With business owners that just are done, wanna close doors?

You were saying that earlier,

it just makes me realize, like,

"Wow, there's so much opportunity out there."

- Yeah, so business owners get sick,

business owners get divorced,

business owners change life, stages of life,

business owners get tired,

business owners start other businesses.

So there's all types of reasons

that business owners would wanna sell their business.

Business owners want a liquidation event.

- In conclusion, TJ, thank you so much.

It's been a wonderful opportunity to get to know you,

hear from you, and have you share

your wealth and knowledge with our viewers.

What do you wanna conclude with?

Any three pieces of advice? Life, business, anything.

- Yeah, yeah. Well the thing that I would say is,

for most people get started, keep going, keep at it.

And you know, millionaire, that number,

10 million, whatever the number is,

you know, that number's great.

Revisit it often, but not all the time, right?

Focus on building good engines, sales and marketing engine,

your delivery engine, how you do your business,

and then your operations and all that sort of stuff.

How do you pay your bills

and take care of your legal contracts and all those things.

Those are your three engines that you have in business.

So if you focus on those things

and you build those things where they're running,

and they don't need all of your time,

then you're gonna scale,

you're gonna have a business that benefits you

and benefits to people that work for you.

And you'll grow, you'll get there.

But you know, the number, you'll get there,

just be consistent.

Keep at it. And focus on acquiring customers.

How do you do that? Do that really well.

You know, lower the cost of doing that

and make sure you're making profit, not just revenue.

- Awesome. - That's it.

Well, you've showed us today what it's like

to get the payoff of true grinding.

We're here, you guys see the background here, it's gorgeous.

Make sure you check out the Millionaire Mentor's channel,

- Yeah, yeah. TJ the Millionaire Mentor.

- And it's been a pleasure.

- Yeah, brother.

- Thank you so much. - Good to meet you, man.

- Well that's a wrap you guys.

I hope you really enjoyed this episode

and were inspired by TJ, the Millionaire Mentor.

We appreciate you watching.

Execute on everything we talk about

and build successful businesses out there.

We greatly appreciate you.

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Thank you so much for watching.

Adios.

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