My first $10k month as an entrepreneur

Summary

In 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

00:00

📈 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.

05:01

🎮 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.

10:03

💡 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.

Keywords

💡Entrepreneur

An entrepreneur is an individual who organizes and operates a business, taking on financial risks to do so, with the goal of making a profit. In the video script, the speaker identifies as an entrepreneur and shares their personal achievement of reaching $10,000 in monthly revenue for the first time, which is a significant milestone in their business journey.

💡Revenue

Revenue refers to the income generated from the sale of goods or services by a business. In the context of the video, the speaker calculates their revenue by adding up all the payments received over the last 30 days, which amounts to $14,862.19, demonstrating the financial success of their entrepreneurial efforts.

💡Profit Margin

Profit margin is a measure of profitability, calculated as the profit from a business's operations divided by its revenue. The speaker mentions having a profit margin of around 70 to 80%, indicating a substantial portion of their revenue is retained as profit, which is a key indicator of business efficiency and financial health.

💡Discipline

Discipline refers to the practice of training oneself to follow rules or a code of behavior, often associated with self-control and orderliness. The speaker contrasts their previous self-perception of being 'lazy' with the concept of discipline, suggesting that their success is not due to innate discipline but rather an addiction to their work, which drove them to excel.

💡Addiction

Addiction is a condition where a person engages in using a substance or behavior for which the rewarding effects provide a compelling incentive to continue use. In the video, the speaker reframes the concept of addiction from a negative connotation to a positive one, suggesting that becoming addicted to productive activities, like making money or improving one's business, can lead to success.

💡Lazy

Lazy is a term used to describe someone who is unwilling to work or use energy. The speaker initially identifies with this term, believing it to be the reason for their lack of success. However, they later challenge this notion, arguing that finding something one is passionate about can transform what was perceived as laziness into intense focus and dedication.

💡Mindset

Mindset refers to a set of attitudes or beliefs that shape how an individual views the world and themselves. The speaker discusses how their mindset of being 'lazy' limited their potential until they shifted their perspective to see the power of addiction in achieving their goals.

💡Scams

A scam is a fraudulent scheme to make money by deceiving others. The speaker recalls their initial skepticism towards online success stories, labeling them as scams or lies. This reflects a common mindset among those who are not familiar with the online entrepreneurial space and highlights the speaker's journey from skepticism to belief and success.

💡Outdated

Outdated means no longer current or relevant, especially in terms of technology or methods. The speaker mentions their initial belief that business models they observed were outdated and oversaturated, suggesting that they felt these models were not viable for new entrants to the market. This term is relevant to the video's theme as it reflects a barrier to entry that the speaker had to overcome.

💡Dedication

Dedication is the commitment to doing something until it is finished or until a goal is achieved. The speaker uses the term to describe the level of effort they put into activities they are passionate about, such as playing video games or managing fantasy basketball teams. Their dedication in these areas led to success, which they argue can be translated into other areas of life, including business.

💡Self-Improvement

Self-improvement refers to the process of personal development and striving to become better in various aspects of life. The speaker's realization that addiction to positive activities can lead to self-improvement is a central theme of the video. They encourage viewers to find something they can become addicted to in a way that promotes personal growth and success.

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