The SIMPLE Way People Make MONEY Without Working Harder! | The Money Making Expert

Summary

The video discusses how to earn more money and achieve financial freedom. The first principle is that income follows assets - you need to accumulate assets like property, stocks, and brands in order to generate passive income streams. It's also crucial to invest in relationship building, as money flows through networks. For someone with a small amount of disposable income each month, the advice is to use it to take influential people out for meals and build connections that way. For larger sums, Daniel Priestley simplicity invests spare capital into the S&P 500 index. The most exciting route for him is creating investable assets that others want to put money into, rather than just placing his own chips.

Takeaways

• 😀 Income follows assets - the more assets you have, the more income you can generate
• 💰 Invest in yourself first - build skills, knowledge and relationships
• 🤝 Money is relationships - build your network to increase money flow
• 🍽 Host events and take people out to dinner to build relationships
• 👥 Reach out to people more accomplished than you for mentoring
• 📈 Getting a return on $100/month is difficult - focus on personal growth
• 🎸 Cleverly personalized outreach can grab someone's attention
• ❤️ With or without you energy - try many things, some will work out
• 📉 Daniel hates investing, he prefers expanding businesses
• 📈 Daniel's investment portfolio is simple - 100% in S&P 500 index funds

Q & A

What does Daniel mean when he says 'income follows assets'?

This principle means that the more assets you accumulate, the more potential income streams you can create. Assets like rental properties, shares, brands, etc. can generate passive income over time. So building assets allows income to effortlessly flow later.

What does Daniel suggest as a good way to invest $100 per month?

Daniel suggests using that $100 per month to invest in yourself, your skills and relationships. For example, taking a course to improve negotiation, sales or public speaking skills. Or using the money to take influential people out for coffees/meals to build relationships.

What stood out in the cold outreach email that made Daniel want to respond?

The person had clearly done research on Daniel, noticed a guitar in his videos, and offered to give Daniel a lesson to help him improve his guitar skills. The offer of value in an area Daniel was interested in made it a genuine connection attempt.

How does Daniel actually invest his own spare capital?

Daniel puts any spare money into an S&P 500 index fund. He believes government money printing will eventually make its way back to the top US companies. So the S&P 500 is a simple way to invest without needing to analyze individual stocks.

Why does Daniel prefer expanding businesses rather than traditional investing?

He enjoys the creativity and optimism of building businesses. Whereas investing requires more risk analysis which he finds boring. Daniel would rather create an investable asset that others want to put money into.

What was the briefcase and landing page campaign that Daniel mentions?

At a conference, Daniel's team gave custom briefcases to all the speakers. Inside was info leading to a personalized landing page for each speaker. It was an attempt to start a relationship and conversation.

Why doesn't a cold outreach attempt always work?

You can't expect every person to respond positively. The goal is to contact several potentially good connections, provide value, and if even 1 or 2 respond that can lead to fruitful relationships.

What assets does Daniel suggest accumulating?

In his book '24 Assets' Daniel talks about digital assets like brands, databases, company culture etc. that can be formalized and made investable. The more diverse assets you own, the more income streams open up.

How can you access relationships with wealthy people?

Daniel gave the example of joining an entrepreneurs program at a private bank, even though he didn't qualify at the time. It granted him access to networking events to build relationships.

Why focus on building assets rather than trying to invest small amounts each month?

Building assets allows for scalable income streams later. Trying to invest tiny amounts each month won't make a significant difference. Better to use that money to improve skills, relationships and develop assets.

Outlines

00:00

😀 How to earn more money and become financially free

The first principle is that income follows assets - the more assets you accumulate, the more income you'll earn. Some assets to accumulate: brand, databases, company culture. For someone starting out with little money, invest in your own skills and development. Money is also about relationships - build relationships with people who have money flowing. Host networking events and dinner parties to meet new people.

05:00

😊 What makes someone stand out when reaching out cold

Cold outreach messages stand out when the sender shows they've done research on you, offers you something valuable in return, and has an interesting profile showing they're proactive. But you can't expect a high response rate - it's a numbers game. If someone doesn't respond, don't take it personally, just keep reaching out to others.

10:01

😃 His personal investment strategy and business creation approach

He finds investing boring so just puts spare capital into index funds like S&P 500. He prefers expanding businesses optimistically based on ideas he likes rather than analyzing risks like typical investors. His excitement comes from creating investable businesses, not just placing his own chips.

Keywords

💡Assets

Assets refer to valuable properties or resources that can generate income. The video emphasizes accumulating assets as a key principle, stating 'income follows assets'. Assets like rental properties, shares, brands etc. can provide passive income streams. The speaker advises formalizing and owning assets as a pathway to wealth.

💡Relationships

Relationships refer to connections with other people, especially those with money and influence. The speaker states that 'money is relationships' - building relationships provides access and opportunities. He gives examples like hosting dinner parties and borrowing a yacht to strengthen networks.

💡Invest

Invest means putting money into something with the expectation of generating financial returns. The video advises investing in assets, skills (e.g. courses), and relationships rather than traditional investments. The speaker invests spare capital into the S&P 500 stock index.

💡Income

Income refers to money received, especially on a regular basis. The speaker states 'income follows assets' - assets like property or shares generate income streams. His advice focuses on increasing income by accumulating income-producing assets.

💡Passive Income

Passive income refers to earnings that require little active effort, e.g. from rental, interest or investments. Accumulating assets like property, shares, brands etc. can provide passive income streams versus active income from a job.

💡Formalize

Formalize means officially establishing something as a recognized entity. The speaker advises formalizing assets like personal brand, databases, and company culture to create ownable, sellable assets.

💡Capital

Capital refers to financial assets or money available for investment. The speaker invests spare capital into stocks rather than traditional investments, and focuses on building businesses that attract outside capital.

💡Inflation

Inflation refers to the rate at which prices rise over time. The speaker argues that inflation causes money to eventually flow back into top US stocks, making the S&P 500 a reliable investment.

💡Optimist

An optimist has a positive, hopeful outlook even in difficult situations. The speaker identifies as an optimist focused on creating businesses versus a pessimistic investor assessing risks.

💡Romanticize

Romanticize means to portray something as appealing. The speaker romanticizes businesses he wants to exist, pouring energy into them based on personal preferences rather than calculated investments.

Highlights

The first principle is income follows assets - the more assets you have, the more income you'll earn.

Money is relationships - if you don't have a lot of money, you typically don't have a lot of relationships with people who have a flow of money.

If you have $100 a month to invest, trying to invest $100 a month is not going to change your life - instead, invest in yourself by developing skills.

Host dinner parties and reach out to influential people you don't know yet to build relationships.

Don't reach out to famous people who get tons of requests - instead reach out to accomplished, successful mentors.

Personally with $100 a month I would take interesting people out to dinner to invest in relationships.

When doing an outreach, show you've done research on the person and offer them something valuable in return for their time.

Don't get hung up if someone doesn't respond to an outreach - try more people as it always comes around again.

My personal investment strategy is extremely boring - I just put available capital into index funds like the S&P 500.

I don't like investing, I like creating expansive businesses. I'm an optimist, while great investors are often pessimists analyzing risks.

I make money by pouring energy into businesses I romantically want to exist rather than thinking about where to invest money.

The exciting thing is not placing my own investment chips, it's creating businesses where others want to invest.

Become part of the small % of viewers that have subscribed - it helps us tremendously.

The bigger this channel gets, the bigger the guests I can get.

Please subscribe if you love the dver CEO brand and watch this channel.

Transcripts

let's talk about money let's talk about

it we're in a cost of living crisis in

the UK and many countries around the

world are either in or on the brink of

recession so one of the most popular

questions we've had at the dire of CE in

the last 3 to six months is about money

people's concern about their own money

spending finance and saving if I'm

someone out there now that has I don't

know $100 or1 pound worth of disposable

income every month or if I have ,000 or

£10,000 what should I be thinking about

as it relates to creating more money and

making myself financially free the first

thing is you just want to earn more um

people massively settle for how much

they could earn um so the first place to

I think to invest is in yourself but

here's the first principle the first

principle is uh income follows assets

income follows assets means that the

more assets you have the more income

you'll earn if I own if I want rental

income first I need a house if I want

dividend an income I need shares um if I

want to be paid as a brand ambassador

first I need a brand so essentially the

more we can accumulate assets the more

easy and effortless the money flows so

um we have to figure out well what

assets could you accumulate and what

assets could you formalize and own I

wrote a book called 24 assets and I

listed out all the different digital

assets that are new economy assets that

people could have things like brand and

positioning things like databases things

like company culture is an asset now so

I talk about how do you formalize those

things if someone's just starting out

and they've got 100 a month to be to be

perfectly honest trying to invest 100 a

month or any of that it's not going to

do anything it's not going to change

your life but if you put that into your

own skills and your own development um

let's say you don't have negotiation

skills well there are courses that you

can take for $100 that give you

negotiation skills let's say you don't

know how to close sales you can take a a

course on how to make sales let's say

you don't feel confident public speaking

you could do public speaking course

um so there are things that allow you to

gain your skills the other thing too is

money is relationships so if you don't

have a lot of money you typically don't

have a lot of relationships um you might

have a limited number of relationships

or a limited number of relationships

with people who have a flow of money

when you have a high degree of

relationships with people who've got

money flowing it's very effortless for

that to flow to and from you as well so

you might have to invest in

relationships um when I arrived in the

UK I knew that that uh one of the places

that I would meet interesting people

would be private Banks so I didn't

qualify for private bank but I went into

a private bank and I said I'm going to

be launching a business and of course

it's going to be great and successful I

want to bank with a private bank um can

I do you have an entrepreneurs program

oh yeah we did and they start selling me

joining the entrepreneurs program now it

cost me £600 to open an account with

that private bank but they immediately

invited me to dinners and they invited

me to

networkingsocial of the things that I've

recommended a lot of people do is host

dining uh dinner parties uh and reach

out to people who you don't know uh

here's a here's a silly story I was just

in Dubai and I know someone who has a

100 foot yacht so I said Jeremy can I

borrow your Yacht for the evening um I'm

going to be putting 15 really

influential people for a dinner party uh

we're going to have burgers on the boat

and he and he said oh great can I come

and I said of course you can come it's

your boat right and he

so he said great that'll be exciting so

he basically said you can you can host

this party on on my 100 foot boat so I

reached out to all the people who I

didn't know and I said hey we're putting

together burgers on the boat would you

like to come along and have some burgers

with interesting people and then they

came along and I made the investment

into relationship um now the funny thing

is a lot of people say oh but you know

someone with 100 foot yard funny thing

is I I think plenty of people who have a

boat especially in Dubai it sits empty

most of the time you could reach out to

30 people and say we're going to do it

on someone's boat would you like it to

be your boat with or without your energy

so making investments into

relationships is a really powerful thing

for $100 a month personally what would I

do with $100 a month take people out to

dinner that would be my number one

investment i' I'd probably be taking

people out to dinner why the investment

into the relationship so I would be

inviting the most interesting people I

could possibly invite uh if I had the

ability for $100 a month I guess that's

one dinner so I would reach out to

someone interesting and say I've seen

your story I've seen what you're

interested can I take you out for lunch

can I take you out for dinner it's my

shout I'd love to get to know you a

little bit better obviously don't do

that with someone who's famous you get a

hundred of those a day I get plenty of

those a day reach out to someone who's

not famous but who's accomplished who's

successful who's who's a mentores type

person not necessarily a superstar but

someone who's a few steps ahead take

those people out to lunch take them out

to dinner what you say in that message

that you know you talk about calls I

talk about emails

what what would someone have to say to

you considering where you are in your

life now with all the inquiries you get

for you to actually go for a coffee with

them

um so bear in mind everyone's going to

email you and say this yeah yeah well it

happened today actually someone said um

Daniel I noticed in the background of

one of your photos that you have an

amazing Fender Strater I teach people

how to play guitar um I would love the

opportunity to do a guitar lesson with

you and help you to shred on that guitar

and it was really nice he had watched my

podcasts in the past he had noticed the

guitar he reached out with something

that was valuable for me and he said I'd

love to have a chat with you and teach

you how to play some guitar and I

obviously I'll have a chat with him

while we do that but that was a really

it was it was a very sense uh it was

very it felt like a a good connection I

also had a look at his um profile and he

looked like a really lovely person you

know who's who's getting on with doing

stuff there's a bit of With Or Without

You energy as well in terms of you know

I can see this person's up to stuff so I

look at that and I go he did some

research on you MH he offered you value

in an area where you were potentially

seeking or looking for the value yep oh

that's definitely true if you've seen me

play

guitar but that's that's like the core

component and I I feel the same way that

I I I try and figure out why sometimes I

reply to these cold Outreach messages

but 99.9% of the time I don't and it

tends to be the case that the person

will say they'll show that they've done

some kind of research on me which is

good for your ego like everyone has an

ego you want to feel like someone

actually cares and then they'll offer me

something in return for way do you know

I did this to you I don't even know if

you remember you and I were both

speakers at a conference right and we

were in the elevator and I prepared for

you a really nice leather um briefcase

and it had your uh created the happy

sexy millionaire thing and we we gave

all the speakers one of those you

weren't that special we had we had some

for all the but anyway it was

interesting cuz I actually have done

that with you and we never ended up

following up with you and you never

followed up with us but here's here's

the thing I want to share that no I want

to share that because sometimes it

doesn't work right sometimes you have to

send out like when I sent out 3,000 cold

DMS to launch a business I didn't expect

3,000 people to respond I expected 30 or

40 people to come back to me when I gave

gave that to you do you remember it I

remember getting a briefcase and I'm I'm

trying to I do I do quite a lot of

public speaking these days so um we only

had like a five like a two-minute

interaction and I said hey this is a

little gift for you inside we've created

something for you have a look um was it

something I had to scan was there

something scannable in there yeah we'

we'd built you a little landing page

campaign yes I remember yeah I remember

getting in the car and saying to my team

oh this is cool yeah and then of course

it gets past the team and they're like

yeah yeah fair enough put that on the

pile of cool things um so the point is

is I'm saying that to say these thing

you don't want to get hung up on the

idea that one person's like in that same

event we gave that same thing to another

really well-known person they've gone

with it and they're like um you know

millions of followers and they're one of

our clients now so we have With or

Without You energy which is when when my

team do this we pick 30 or 40 people

who'd make amazing connections and

contacts in our VIP Outreach team and

then we reach out to them and we expect

maybe two or of them to get back to us

so it's that idea of you know don't like

if someone messages you and you don't

message back it's not the end of the

world there are other people you can

message and there's a and look what

happens there you go it comes around

again it always comes around again if

it's if it's meant to happen it'll

happen so what about people you know so

many members of my team speak to me and

ask me about investing they might have

tens of thousands to invest or whatever

but I'm curious about your personal

investment thesis with a with a capital

that you have spare what you you do with

it to create more money

so what does your portfolio look like

it's extremely boring I just stick any

available Capital into S&P 500 what's

the S&P 500 for anyone that doesn't yeah

the top 500 stocks in the US so

essentially any government that inflates

its currency anywhere in the world that

money will hit the economy and it will

eventually make its way back to the top

500 companies in the US through spending

or that Capital will end up being put

into the S&P 500 which inflates it so

one way or another it's going back to

the top 500 companies in the US so it's

almost impossible to beat the S&P 500 I

hate investing it's not my thing I like

expansive business creation I'm an

optimist uh great investors are often

pessimists they're very good at thinking

what could go wrong and they analyzing

risk I hate that so for me

personally I want to as much as possible

expand the portfolio of businesses that

I think should exist in the world and

and I've always made my money by just

saying I romantically like the idea of

this business existing and I'm going to

pour my energy into it and it's going to

become worth millions rather than think

about where I want to invest money I

want to create something that's

investable for other people to put money

into because that's how you really make

money so the exciting thing is not

placing my own chips the exciting thing

is creating something where others want

to place chips into that if you love the

dver CEO brand and you watch this

Channel please do me a huge favor become

part of the % of the viewers on this

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