10 Rules For Making Your First Million

Valuetainment
15 Feb 202314:17

Summary

TLDRThis video outlines 10 rules for rapidly accumulating one's first million dollars, categorizing methods into fast, average, and slow approaches. It emphasizes the importance of saying 'yes' to opportunities, sticking to one business philosophy, leveraging resources, and protecting one's credit score. The speaker also advises on specializing early, proactively seeking customers, building relationships with influencers, choosing mentors wisely, tracking finances meticulously, and managing distractions to stay focused on financial goals.

Takeaways

  • πŸš€ The Fast Method: Aim to make your first million within 5-10 years with high risk and a chaotic lifestyle, often involving long work hours and high pressure roles like startup founder or sales leader.
  • πŸ›€οΈ The Average Method: A balanced approach taking 10-20 years with mid-level risk, where you might support a chaotic environment but maintain a decent quality of life without being 'on call' 24/7.
  • 🏑 The Slow Method: A low-risk, quality life approach that takes 20-40 years, involving steady investments and property acquisitions that grow in value over time.
  • πŸ’‘ Mindset Matters: The speaker emphasizes the importance of having the right mindset and being open to opportunities, which includes saying 'yes' to as many opportunities as possible early on.
  • πŸ”‘ Specialization Over Generalization: Focus on mastering one niche or market before expanding to others to build expertise and credibility.
  • 🀝 The Power of Leverage: Use leverage in various forms, such as other people's skills, money, or technology, to expedite the process of making your first million.
  • πŸ›‘ Protect Your Credit: A high credit score is crucial for credibility and accessing opportunities; ensure commitments are met to maintain reliability.
  • 🎯 Focus on One 'Religion': Stick to one method or philosophy for acquiring customers and clients to build momentum rather than constantly changing strategies.
  • πŸ” Active Prospecting: Don't wait for customers to come to you; use creative methods to find and engage potential clients across various platforms.
  • πŸ“ Track Finances Closely: Keep a close eye on savings, expenses, and income, making adjustments to maximize financial growth.
  • 🌟 Build Influencer Relationships: Create a list of key influencers and strategize on how to build genuine relationships with them for potential opportunities.
  • 🚫 Eliminate Distractions: Identify and convert negative distractions into positive ones to stay focused on the goal of making your first million.

Q & A

  • What are the three methods described for making the first million dollars?

    -The three methods are the fast method, the average method, and the slow method. The fast method takes 5 to 10 years with high risk and low quality of life, often involving being a startup founder or sales leader. The average method takes 10 to 20 years with mid-level risk and a decent life, typically involving a supporting role in a chaotic environment. The slow method takes 20 to 40 years with little to no risk and a balanced quality of life, often involving steady investments and property ownership.

  • What is the main idea behind saying 'yes' to everything at the beginning of one's career?

    -Saying 'yes' to everything at the beginning allows one to explore various opportunities and build a wide network, which could potentially lead to the first million. It's about being open to experiences and relationships that could be pivotal to one's success.

  • Why is it important to follow one 'religion' or philosophy for customer acquisition?

    -Following one 'religion' or philosophy helps in creating momentum by sticking to a single approach and fine-tuning it, rather than constantly switching strategies and not gaining any traction.

  • What does the term 'leverage' mean in the context of making the first million dollars?

    -Leverage refers to using various resources, such as other people's skills, money, or technology, to increase one's potential for earning and growing a business more efficiently.

  • Why is protecting one's credit score crucial, especially in the early stages of wealth creation?

    -A good credit score enhances credibility and reliability in the eyes of others, which can be essential for securing investments, loans, and partnerships that are vital for wealth creation.

  • What does it mean to specialize before generalizing in the context of building a business?

    -Specializing before generalizing means focusing on one product, niche, or market and mastering it before expanding into other areas. This approach helps in establishing expertise and a strong foothold in a specific area before diversifying.

  • Why is it important to proactively find customers instead of waiting for them to come?

    -Proactively finding customers is important because it demonstrates initiative and increases the chances of making connections and sales. Waiting passively could result in missed opportunities and slower business growth.

  • What is the significance of creating a list of top influencers to get close to and strategizing on how to approach them?

    -Creating such a list and strategy helps in building valuable relationships with influential people who can potentially introduce one to new opportunities, clients, or provide guidance that can significantly impact business growth.

  • Why is it crucial to track savings and expenses while building wealth?

    -Tracking savings and expenses helps in understanding one's financial position, identifying areas of unnecessary spending, and ensuring that income is being allocated effectively towards wealth creation.

  • How can one deal with distractions while focusing on making the first million dollars?

    -One can deal with distractions by identifying and eliminating negative distractions and replacing them with positive ones, such as exercising, building meaningful relationships, or engaging in activities that contribute to personal and professional growth.

  • What is the role of positive distractions in the process of wealth creation according to the script?

    -Positive distractions, such as exercise, meaningful relationships, and personal development, help maintain focus and motivation, and prevent one from being derailed by negative distractions that could hinder progress towards financial goals.

Outlines

00:00

πŸš€ Strategies for Earning Your First Million

The speaker introduces three methods for making the first million: the fast method, the average method, and the slow method. The fast method entails high risk and hard work over 5-10 years, such as being a startup founder or a salesperson. The average method involves a 10-20 year period with mid-level risk and a decent life balance, possibly involving equity in a company or being a skilled salesperson. The slow method is a low-risk, long-term approach, investing consistently over 20-40 years for a balanced quality of life. The speaker then outlines 10 rules for making a million quickly, starting with a mindset of saying 'yes' to opportunities and leveraging resources to expedite the process.

05:01

πŸ› οΈ Building Momentum and Leveraging Resources

The speaker emphasizes the importance of picking one strategy or 'religion' for acquiring customers and sticking to it to build momentum. He also stresses the value of leveraging salespeople, funnels, contacts, and relationships to multiply efforts. Protecting one's credit score is highlighted as crucial for credibility and reliability, especially in the early stages of business. Specialization is recommended over generalization to master a niche before expanding. The speaker also advises proactively seeking out customers and prospects rather than waiting for them to come.

10:01

🌟 Cultivating Influencer Relationships and Financial Discipline

The speaker suggests creating a list of top influencers and devising strategies to build relationships with them, offering help rather than asking for it initially. He shares a personal anecdote about the importance of choosing the right mentors and habits, as duplicating the wrong ones can lead to negative outcomes. Tracking savings and expenses is presented as a simple yet effective habit for financial discipline, with the speaker sharing personal tactics for saving money. Lastly, he advises eliminating negative distractions and focusing on positive ones to maintain momentum towards financial goals.

Mindmap

Keywords

πŸ’‘Fast Method

The 'Fast Method' refers to a high-risk, high-intensity approach to making one's first million within 5 to 10 years. It involves working long hours, often in a startup or sales environment, and is characterized by high pressure and a potential negative impact on one's quality of life. In the script, this method is exemplified by the speaker's own experiences, where they describe working 80 hours a week and being constantly on call.

πŸ’‘Average Method

The 'Average Method' is a mid-level risk approach to wealth accumulation, taking 10 to 20 years. It involves a more balanced lifestyle and less pressure than the fast method. The speaker mentions that individuals following this method might have a supporting role in a chaotic environment but still maintain a decent quality of life, avoiding the constant demands of being a full-time founder.

πŸ’‘Slow Method

The 'Slow Method' is a low-risk, long-term strategy for building wealth that can take 20 to 40 years. It emphasizes a balanced quality of life and involves steady investments, such as monthly contributions to a fund with a 12% return rate over several decades. The script describes this method as one where an individual might invest in real estate and gradually build equity over time, leading to millionaire status.

πŸ’‘Momentum

In the context of the video, 'momentum' refers to the build-up of a consistent and focused effort towards a goal. The speaker advises against constantly changing strategies or philosophies, which can halt momentum. Instead, one should pick a 'religion' or a consistent approach to acquiring customers and refine it over time, as seen in the script where the speaker discusses the importance of sticking to one method to build momentum.

πŸ’‘Leverage

'Leverage' in the video script is used to describe the strategic use of resources, relationships, or other people's money to expedite the process of making the first million. The speaker emphasizes the importance of leveraging salespeople, funnels, contacts, and relationships to maximize one's efforts. An example from the script is leveraging the work of two salespeople to increase output.

πŸ’‘Credit Score

A 'credit score' is a numerical representation of an individual's creditworthiness, which can impact their ability to secure loans or credit. In the video, the speaker highlights the importance of protecting one's credit score, especially in the early stages of wealth building, as it can affect credibility and the ability to leverage financial opportunities.

πŸ’‘Specialize

To 'specialize' means to focus on a specific area of expertise or market niche. The speaker advises against generalizing too early in one's career, suggesting that specializing in one product, niche, or market and mastering it before generalizing can be a more effective strategy for building wealth. The script mentions that specializing helps to avoid diluting efforts and build expertise.

πŸ’‘Prospecting

In the video, 'prospecting' refers to the active pursuit of potential customers or clients. The speaker emphasizes the importance of not waiting for customers to come but instead going out to find them, using creative methods to stand out. Examples from the script include using social media platforms like Instagram to network and build relationships.

πŸ’‘Influencers

The term 'influencers' in the script refers to individuals who have significant impact or authority in a particular field or industry. The speaker suggests making a list of top influencers and devising strategies to get close to them, as they can provide valuable connections and opportunities. The script gives an example of wanting to have lunch or coffee with a well-known realtor to learn from their success.

πŸ’‘Habits

In the context of the video, 'habits' pertain to the routine practices and behaviors that individuals adopt, which can significantly influence their success or failure. The speaker warns against duplicating the wrong habits, as seen in the script with the example of individuals who chose to emulate a high-risk lifestyle and ended up with negative outcomes.

πŸ’‘Expenses

'Expenses' in the video script relate to the costs incurred by an individual or business. The speaker advises tracking savings and expenses to manage finances effectively. An example from the script is the speaker's personal practice of tracking all financial aspects on the 18th of every month, which helps in increasing income and reducing unnecessary expenses.

πŸ’‘Distractions

In the video, 'distractions' refer to anything that can divert one's attention away from their goals. The speaker differentiates between negative and positive distractions, advocating for the elimination of the former and the embracement of the latter. Positive distractions, such as exercising or nurturing relationships, are seen as beneficial and supportive of one's journey to wealth, as illustrated in the script.

Highlights

Three different methods to make the first million: fast, average, and slow, each with varying levels of risk and time commitment.

The fast method involves high risk, high pressure, and long working hours for a potential 5 to 10-year payoff.

The average method is a balanced approach with mid-level risk and a 10 to 20-year timeline to accumulate wealth.

The slow method emphasizes low risk, quality of life, and steady investments over 20 to 40 years to reach a million dollars.

10 rules for making the first million dollars, focusing on mindset and strategies for rapid wealth accumulation.

The importance of saying 'yes' to opportunities to increase the chances of finding the right client or contact.

Choosing one method or 'religion' for customer acquisition and sticking to it to build momentum.

Leveraging resources, such as salespeople, funnels, and relationships, to expedite the wealth-building process.

Protecting your credit score to maintain credibility and reliability in business dealings.

Specializing in one area before generalizing to master a niche market and then expanding.

Initiating proactive prospecting instead of waiting for customers to come to you.

Creating a list of top influencers and devising strategies to build relationships with them.

The impact of duplicating habits, emphasizing the importance of choosing the right role models.

Tracking savings and expenses meticulously to increase wealth efficiently.

Handling distractions by converting negative ones into positive ones to stay focused on wealth-building goals.

A call to action for viewers to apply the shared strategies and to subscribe for more entrepreneurial insights.

Transcripts

play00:00

okay so we haven't done one of these

play00:01

videos in a long time but you asked for

play00:02

what we're doing here is 10 rules for

play00:03

making your first million

play00:05

[Music]

play00:14

okay so let's get right into there's

play00:15

three different ways to do it one is the

play00:17

fast method the other one is the average

play00:19

method and the other one is a slow

play00:20

method the fast method you'll make your

play00:22

first million within five to ten years

play00:23

high risk High chaos low quality of life

play00:26

for three to five years you're maybe a

play00:28

startup founder maybe a salesperson

play00:30

sales leader but a lot of pressure is on

play00:32

you and you're working 80 hours every

play00:34

single week you're working on Saturdays

play00:36

a little bit of Sunday and you're going

play00:37

on this for like five to ten years okay

play00:39

so the second one is the average method

play00:41

takes 10 to 20 years here's how this

play00:42

looks your mid-level risk type of a

play00:44

person your supporting role in a chaotic

play00:46

environment with a decent life meaning

play00:48

you don't want all the pressure to be on

play00:49

you you don't want to be the person that

play00:51

24 7 you're on call people are calling

play00:53

you this didn't work that didn't work

play00:55

you haven't dinner with your wife you

play00:56

don't want that you're okay with having

play00:58

some of it but not full-on founder

play00:59

founder and you're okay with that you do

play01:01

have Equity maybe in a startup that you

play01:03

have an equity in the company eventually

play01:04

maybe you earned that Equity company

play01:05

that is your way of making the money or

play01:07

you're a salesperson that's very good in

play01:08

being a great Market you're very good

play01:10

with clients you eventually make your

play01:11

first Million last an elite is the slow

play01:13

method takes 20 30 40 years this is

play01:15

little to no risk you have a balanced

play01:17

quality of life you come home at five

play01:19

o'clock every night maybe six o'clock

play01:20

every night you invest in a font maybe

play01:23

300 a month at 12 rate of return over 30

play01:26

years which ends up being a little over

play01:27

a million bucks or you do a thousand

play01:29

dollars a month at 12 over a 20-year

play01:31

period you make your million dollars

play01:33

maybe you buy a multi-family home and

play01:35

you never sell it maybe your own home

play01:36

you buy it you never sell maybe you've

play01:38

got a couple different homes you buy the

play01:39

first one take the equity into the next

play01:40

one into the third one buy the fourth

play01:42

one you're a millionaire that's the slow

play01:43

method now what I want to share with you

play01:45

is 10 rules on the fastest way to make a

play01:47

million dollars with these 10 different

play01:49

mindset I can come up with 50 of them

play01:50

but I'm giving you just 10 of them in

play01:52

this video so let's get right into it I

play01:53

want to give a quick shout out to our

play01:54

sponsors gold Co here's what I want you

play01:56

to think about when it comes down to go

play01:57

my concern when it comes out to

play01:58

Investments today is what can I invest

play02:00

in that's not duplicatable here's why

play02:03

because the more we see national debt 31

play02:05

trillion dollars National debts about 32

play02:07

trillion dollars what does that mean

play02:08

they keep reprinting money because

play02:10

that's duplicatable keep reprinting and

play02:12

reprinting and reprinting you can't

play02:14

duplicate and reproduce more gold

play02:16

there's a limited supply of it so for me

play02:19

I use that as a way to hedge yes people

play02:21

say it's going to go to four thousand

play02:22

five thousand ten thousand I'm not here

play02:24

to make any predictions what I will tell

play02:26

you is what I did is I invested a small

play02:28

percentage of my money into gold just in

play02:31

case just like I want a lot of life

play02:32

insurance I also want to go so if you do

play02:34

want to kind of hedge yourself against

play02:36

what could happen with inflation as well

play02:38

as what's happening with the economy

play02:39

today I suggest you consider gold coin

play02:41

when it comes down to buying your gold

play02:42

so by Timmy viewers could get up to ten

play02:44

thousand dollars on free silver and a

play02:46

free one ounce silver Ronald Reagan coin

play02:48

with a qualified order called them today

play02:50

at

play02:52

855-594-2758 again

play02:55

855-594-2758 or click the link below

play02:57

goldco.com forward slash pbd here's the

play03:00

first one at the beginning say yes to

play03:02

everything because later on you're gonna

play03:04

have to say no to almost everything

play03:05

here's what I mean by it hey you know

play03:07

we're having this thing going on on

play03:08

Friday night there's going to be 100

play03:09

people there you know I want to invite

play03:10

you to come out and networking regular

play03:12

like I really don't want to go but you

play03:13

go hey this Saturday afternoon we got

play03:15

this one thing going on yes no problem

play03:17

obviously outside of what your core

play03:19

business is that you have responsibility

play03:20

and commitments to don't drop your code

play03:22

responsibility you're running the

play03:24

company hey you want to meet this person

play03:25

let's do Zoom do you want to meet up and

play03:26

let's go meet him you want to have a cup

play03:27

of coffee yes I was doing six o'clock

play03:29

breakfast at Denny's seven o'clock

play03:31

breakfast like literally my 6 a.m

play03:33

meeting would go till seven my seven a.m

play03:35

breakfast would show up on the first one

play03:37

I would have eggs on the second one I

play03:38

would have steak at Denny's in the same

play03:40

exact table then eight o'clock he goes

play03:42

to work I go to my office I have a

play03:43

meeting then I have a lunch appointment

play03:44

at three but I was yes yes yes late at

play03:47

night hey do you want to call me to this

play03:48

bar and let's meet at this 11 o'clock at

play03:49

night it's the only time I can meet you

play03:51

it doesn't matter hey I can meet you in

play03:53

San Diego and I want to introduce you to

play03:54

five months it doesn't matter I am

play03:56

driving I would put 30 000 miles per

play03:59

year on my car just to say yes to

play04:02

everything because I knew I was one

play04:04

client away from making my first million

play04:06

I was one contact away one relationship

play04:08

away that was my mindset so I was like

play04:10

oh it's gonna be this guy gonna be that

play04:11

guy going to be this guy eventually I

play04:13

met a guy at a hotel near LAX who gave

play04:15

me 600 leads that made me my first 30 40

play04:18

million bucks just because of one

play04:20

contact but again say yes to almost

play04:22

everything at the beginning later on

play04:24

when you make your 1000 million you're

play04:25

gonna have to say no to almost

play04:27

everything Point number two follow one

play04:28

religion what do I mean by this like

play04:30

think about what I see a lot of people

play04:32

doing that they don't create any

play04:33

momentum I like the way how he does it

play04:35

yeah I'm gonna do sales like this but I

play04:37

want to do funnels like this but I want

play04:39

to do dislike but I want to do like this

play04:40

and what if we do this but I like how

play04:42

this guy does it you're all over the

play04:43

place pick one religion on how you're

play04:45

going to get your customers and clients

play04:46

and stop constantly jumping oh you guys

play04:48

do it this way oh I'm gonna go with you

play04:50

oh I'm gonna go you're not creating any

play04:52

momentum momentum is Created from

play04:53

sticking to one philosophy and

play04:55

constantly fine-tuning your philosophy

play04:57

then constantly jumping all over the

play04:59

place every time you see a new video

play05:00

with a new YouTuber that gives you a new

play05:02

idea you switch your philosophy of doing

play05:03

things you hurt yourself by doing that

play05:05

pick a religion stick to it drive that

play05:08

philosophy until you create momentum

play05:10

Point number three is leverage let what

play05:13

I mean by leverages leverage sales

play05:14

people leverage the right funnels

play05:16

leverage the right contact leverage the

play05:18

right relationship it doesn't matter

play05:20

your main thing is to leverage it could

play05:22

be leveraging somebody else's money it

play05:24

could be leveraging somebody else that

play05:26

gave you an investment to help grow your

play05:27

business at the beginning it doesn't

play05:28

matter if you want the faster way the

play05:31

key is to have some leverage you only

play05:33

have a certain amount of hours you can

play05:34

work in a week I would sit down now it's

play05:36

okay I got 80 hours 200 hours I can do

play05:38

how can I leverage this to be a hundred

play05:39

dollars well what if you got two sales

play05:41

people that do 50 a week okay great how

play05:42

can I lever everything was about

play05:44

leverage leverage leverage so the ones

play05:46

that get there the fastest typically

play05:48

have the right to leverage tools

play05:50

technology software it doesn't matter

play05:52

think ask yourself what can I do to

play05:55

leverage to expedite the process of

play05:57

making my first million when you

play05:58

interview other people that are

play05:59

successful ask them what technology tool

play06:02

relationship did you leverage to speed

play06:04

up the process of you winning you'll be

play06:05

amazed how much you can learn by asking

play06:07

people that question Point number four

play06:08

is protecting your credit score and it's

play06:09

very very important at the beginning

play06:10

stages of it's kind of tough to do what

play06:12

you want to do if your credit scores in

play06:13

the 400s 500 even 600 if you got a high

play06:16

credit score that gains your credibility

play06:17

but also credit score isn't just your

play06:19

FICO with Experian TransUnion or Equifax

play06:21

if you say you're going to be there a

play06:23

certain time be there earlier if you say

play06:24

you're going to send a certain email do

play06:26

it if you're making a commitment to

play06:27

certain people keep them protect your

play06:29

credit score because people will say I

play06:31

can rely on this person because he is

play06:33

very very reliable when he or she says

play06:35

they're going to do something they do it

play06:37

at the beginning this matters it's

play06:38

always going to matter a lot but it's

play06:40

going to matter even more at the

play06:41

beginning Point number five at the

play06:42

beginning it matters very much for you

play06:44

to specialize way before you generalize

play06:46

meaning don't say I do loans for five

play06:49

hundred thousand dollars 10 million

play06:50

dollars a million dollars but I also do

play06:51

escrow also the real estate I also do

play06:53

this I also do that stop it pick one

play06:55

Whatever It Is pick one of them and

play06:56

specialize you can generalize later on

play06:58

when you make your first million but one

play07:00

of the biggest mistakes to make before

play07:01

you make that is to constantly try to

play07:04

generalize specialize one product one

play07:06

Niche One Market master that then

play07:09

generalize if you need to but at the

play07:11

beginning specialize Point number six

play07:12

stop waiting for customers to come too

play07:14

they're not going to find you it's your

play07:15

job to go find a meeting Prospect things

play07:17

gotta be to the roof back in the days I

play07:19

would go put fishbowls and I would give

play07:21

away dry cleaners and I would put it up

play07:22

in five different places I would go to

play07:24

the local Subway Quiznos I'm gonna give

play07:26

away 10 foot long sandwiches for

play07:28

somebody that drops their business cards

play07:29

they would I would call one of them

play07:31

winners send it to them everybody else

play07:32

would love to take you out to lunch I'm

play07:33

a local business owner wanting to build

play07:35

relationship with yourself it doesn't

play07:36

matter what I was doing but today here's

play07:38

what I'd be doing today so let's just

play07:40

say I live in a big city let's pick La

play07:42

okay let's pick Dallas and Dallas

play07:45

Metropolitan is the big city right but I

play07:47

would go and look at the hashtags on

play07:49

Instagram outside of Dallas I'm a

play07:51

realtor let's say Addison I would go to

play07:53

the hashtag Addison Texas there aren't a

play07:56

lot of people that are going to put a

play07:57

hashtag Addison Texas but then I would

play07:59

go on that hashtag Addison Texas and I

play08:01

would see people that just use that

play08:03

hashtag and I would network with them

play08:04

hey picture posted with the Cowboys

play08:06

jersey hey man love the Cowboys jersey

play08:07

got on great to see another Cowboys fan

play08:09

and then you put those things out there

play08:11

then you DM them so what do you do I

play08:13

noticed I love to get together with you

play08:15

and talk to you and tell you what I'm

play08:15

doing you're talking no problem and then

play08:17

maybe if you're real estate you're

play08:18

developing relationships through that

play08:19

maybe your insurance maybe your Finance

play08:21

maybe your product is something else but

play08:22

there are so many ways to prospect a day

play08:25

Instagram Twitter LinkedIn to say

play08:29

prospecting has become easier than ever

play08:31

before is an understatement but you

play08:33

can't sound like everybody else you got

play08:35

to figure out a way to do it in a more

play08:36

creative way it's almost like how a lot

play08:39

of people say well you know he was kind

play08:40

of slide into my DMs if you slide in

play08:42

people's DMS as a customer like

play08:44

everybody else is doing they're going to

play08:45

find out right off the bat you have to

play08:47

have a creative way to get to them we're

play08:49

almost there asking you what do you do

play08:51

for a living but anyways if you want to

play08:53

make your first million the fastest

play08:54

prospect prospect prospect do not wait

play08:57

on people to find you you go find them

play09:00

Point number seven make a list of the

play09:02

top 50 influencers you want to get close

play09:03

to and then put a strategy on how to get

play09:05

close to them let me give you an example

play09:07

so let's just hypothetically you live in

play09:09

Kansas City and there's this realtor

play09:10

that's doing three point two million

play09:12

dollar income last year and everybody

play09:13

knows who he is right how do you get

play09:15

close to that person to have lunch or

play09:17

coffee with them okay maybe you're in

play09:18

real estate and you want to get close to

play09:20

the top three influencers who are in

play09:22

accounting and they run an accounting

play09:23

firm and you want to get close to these

play09:24

guys because accountants have clients

play09:26

who may want to purchase a home and so

play09:28

that's your way of getting close to

play09:30

these influencers I put a list together

play09:31

of the top 50 influencers I wanted to

play09:34

get close to and then strategy on how to

play09:36

get close to each one of them in my own

play09:38

creative way once I got in front of them

play09:40

you don't ask for nothing you don't sit

play09:42

there and say let me tell you here's

play09:43

what I'm looking for no all you say is

play09:45

how can I help you you give them

play09:47

contacts you give them a book a

play09:49

relationship and then gradually they're

play09:51

gonna say what do you do once they ask

play09:53

you what you do you tell them here's

play09:55

what I do x y z and then they see now

play09:57

somebody I want to introduce you to

play09:58

fantastic but in a subtle way you

play10:00

protect and you water these influencer

play10:03

relationships the more you water them

play10:04

the more you water them the more you

play10:06

water them all of a sudden five of them

play10:08

are going to give you contacts that's

play10:09

going to change their life and that's

play10:11

exactly what happened to me hang tight

play10:12

for this next one it's going to take me

play10:13

a minute to explain to you but it's

play10:14

going to make all the sense that for the

play10:16

right person this may be the only Point

play10:17

you'll remember I'm working at Bally's

play10:18

Bally's changes their comp plan this is

play10:20

20 years ago 23 years ago they changed

play10:23

their comp plan guys that we're making

play10:24

150 or not making 50. everybody's

play10:25

looking at going elsewhere that's the

play10:27

one Bally's was when bankrupt 24-hour

play10:29

fitness and LA Fitness bought a bunch of

play10:30

valleys these Five Guys I'm one of them

play10:32

were all looking to see where we're

play10:34

going to next one guy goes into real

play10:35

estate works with this guy picks up

play10:37

great habits from this guy makes 10

play10:39

million does very well invested into

play10:40

real estate he's doing good now makes

play10:42

you know a few hundred thousand dollars

play10:43

per year off his investment properties

play10:45

he's very happy he's chilling he did the

play10:47

right thing 10 years he went on a

play10:48

10-year run he did good the other two

play10:50

guys went after a cool guy to duplicate

play10:52

who would always go to this club called

play10:53

Garden of Eden Coke drugs X everything

play10:55

they duplicated oh I closed this much

play10:58

money but let's go do this let's go do

play11:00

that let's go do that these two guys

play11:01

were beasts I'm talking beasts of

play11:03

competitors two of my favorite guys in a

play11:05

company that was we were friends with so

play11:07

they went and worked under that guy for

play11:08

two or three years the next thing you

play11:10

know they're starting their own company

play11:11

guess what they're doing same exact

play11:13

thing except worse one went to jail one

play11:15

lost three of his houses bunch of the

play11:17

Rolls-Royce that he owned one got

play11:18

deported attacks that showed up the ugly

play11:20

situation good people duplicated the

play11:22

wrong habits I chose to go to a

play11:24

different route and I had you know good

play11:25

examples that I worked with a lot of

play11:27

personal life examples those things and

play11:29

things that matter the most values

play11:30

principles all that other stuff that is

play11:32

almost as important creating your wealth

play11:34

as it is I'm gonna work with a guy

play11:35

that's making millions because you need

play11:37

the right principles it's not just about

play11:38

making the money it's also about keeping

play11:39

the money Morris caught then taught if

play11:42

you do choose to work under somebody

play11:43

that's very very good at what they do

play11:45

how they live their personal lives

play11:47

matters just as much as how much money

play11:49

and success they have this next one is

play11:51

so simple but it's so hard to do track

play11:52

your savings and your expenses let me

play11:54

explain to what I mean by this it was as

play11:55

simple as for me I liked a lemonade but

play11:58

I would drink water and I would put

play12:00

lemon in it and sweet and low and turn

play12:02

that into a lemonade tastes the same but

play12:04

I saved myself two dollars so if you did

play12:06

that three times a day six bucks over

play12:08

300 times a year you own is that two

play12:10

thousand dollars was two thousand

play12:11

dollars it was so I was driving a Ford

play12:13

Focus with a quarter million dollars in

play12:15

the bank and everybody's asking me why

play12:17

they have I eventually have to get a

play12:19

call from one of my chairmans who called

play12:21

me and said Patrick it's embarrassing go

play12:23

buy yourself a nice car I said I don't

play12:25

want to I'm saving the money why would I

play12:26

do it trust me people are thinking

play12:28

you're broke I said I just show my

play12:29

statement I'm not broke can you just get

play12:31

a car finally I bought a car because for

play12:33

me I understood cash is King cash allows

play12:37

me to work with a lot of confidence and

play12:39

if you're trying to grow at the

play12:40

beginning stages of what opportunities

play12:42

come along every 18th of the month I

play12:43

would run my credit score I would track

play12:45

all my savings all my funds my

play12:47

investments my expenses my credit cards

play12:50

with the highest paying everything every

play12:52

single 18 I would do this report with

play12:54

myself on this Excel spreadsheet that I

play12:56

track on a monthly basis so track your

play12:59

savings track your expenses and increase

play13:00

your income Point number ten you're

play13:02

gonna have a lot of distractions during

play13:03

this time a lot girlfriends parents

play13:05

weddings anniversaries birthdays bunch

play13:07

of distractions I eliminated negative

play13:10

distractions and I replaced it with

play13:12

positive distractions life is filled

play13:14

with distractions being married is a

play13:16

form of a distraction but hopefully it's

play13:18

a positive distraction having kids is a

play13:21

form of a distraction but is a positive

play13:23

distraction if Done Right exercising is

play13:26

a distraction because it takes you a

play13:28

couple hours to spend time taking care

play13:29

of your health but it is a positive

play13:31

distraction the more positive

play13:32

distractions you have helps you

play13:34

eliminate negative distractions negative

play13:36

distractions sets you back positive

play13:38

distractions help you go to the next

play13:40

level so find ways make a list of all

play13:42

the distractions you have in your life

play13:43

today and figure out a way to convert

play13:45

those to positive distractions trust me

play13:46

kids who go and finish high school

play13:49

without making any of the big mistakes

play13:50

their parents did a very good job

play13:52

creating positive distractions in their

play13:54

lives just like you had some positive

play13:56

distractions in high school you need the

play13:58

same old positive distractions as an

play14:00

adult if you got value from this video

play14:01

give it a thumbs up and subscribe to the

play14:03

channel I got another video I want you

play14:04

to watch which I think I did five or

play14:06

maybe even six seven years ago 11 skills

play14:08

to master as an entrepreneur if you've

play14:09

never seen this click here to watch it

play14:11

take care everybody bye bye

play14:15

[Music]

Rate This
β˜…
β˜…
β˜…
β˜…
β˜…

5.0 / 5 (0 votes)

Related Tags
Wealth BuildingEntrepreneurshipInvestment TipsSales StrategiesNetworking SkillsFinancial GoalsRisk ManagementQuality of LifeSuccess MindsetPersonal Finance