The 5 Stages of Making Money as a Man (watch or stay poor)

Summary

This video outlines the five stages of income progression for men, starting from basic jobs (Tier 1) to running a successful business (Tier 5). It discusses each stage in detail, including how to transition between them, with an emphasis on acquiring skills and starting side hustles. The video encourages viewers to strive for financial growth through skill development, career advancements, and entrepreneurship. It also highlights the importance of sales and communication skills, especially for those aiming to build a business and reach higher income levels.

Takeaways

• 💼 **Stage One: Job** - You're making tier one income, stuck in a job with limited growth potential, often involving unskilled labor.
• 💰 **Financial Struggles** - In stage one, thousands of dollars feel like a lot, and there's constant financial stress with no real security.
• 🚀 **Escaping Stage One** - The mindset should be to quickly move out of this stage by cutting unnecessary spending and investing in opportunities for advancement.
• 🛠️ **Stage Two: Career Money** - Here, you're in a career that allows for tier two income, with potential to reach tier three or even four in rare cases.
• 💹 **Career Impact** - A career job can significantly change your financial situation, providing stability and the ability to save and invest.
• 💬 **Dating and Career** - A career job can improve dating prospects as it signals ambition and potential for growth, making one more attractive to potential partners.
• 🔧 **Stage Three: Skill Acquisition** - This is a critical but often skipped stage where you acquire the skills necessary to start your own business.
• 📈 **Growth Through Learning** - Continuous learning and skill acquisition are essential to move from a side hustle to a full-fledged business.
• 🔗 **Stage Four: Side Hustle** - Starting a side hustle while working a day job can lead to tier two or three income, and eventually to a business.
• 🌐 **Digital Side Hustles** - It's advisable to start with digital services for side hustles due to lower costs and easier scalability.
• 🏢 **Stage Five: Legit Business** - A legitimate business can generate tier four or five income, with no upper limit on earnings.
• 📊 **Scaling a Business** - Once you reach tier four income, you can scale your business through systems, hiring, or raising prices to command a premium.
• 💌 **Sales as a Skill** - Sales is a critical skill for success in any stage, from dating to business growth.

Q & A

What are the five tiers of making money described in the video?

The five tiers of making money described in the video range from having a basic job (tier 1) to running a legit business (tier 5). Each stage represents a progression in financial independence and earning potential.

What is considered a 'stage one' job, and why is it a trap?

A 'stage one' job is characterized as unskilled labor or low-paying work, such as retail, valet, or moving jobs. It’s a trap because it provides just enough income to get by but never enough for financial security or growth.

How does reaching 'stage two' (career money) change a person's life?

Reaching stage two means getting a career job with a skill, which allows someone to earn more income, feel more financially secure, and gain confidence. The speaker mentions that this stage significantly improved his lifestyle, allowing him to save money, buy a car, and attract more serious attention from potential partners.

What mindset is required to move from stage one to stage two?

To move from stage one to stage two, a person needs to focus on acquiring a valuable skill. They should cut unnecessary spending and invest in education or training to qualify for better-paying career opportunities.

What skill does the speaker recommend for those looking to advance to stage two?

The speaker recommends learning sales, as it is a valuable skill that pays well and can help in other areas, such as communication and starting a business later on.

Why is skill acquisition (stage three) so crucial for starting a business?

Skill acquisition is crucial because without a high-demand skill, a person cannot run a successful business. The speaker emphasizes that jumping into business without a skill will not lead to financial success.

What was the speaker’s first side hustle, and how did it contribute to his success?

The speaker’s first side hustle was self-publishing eBooks on Amazon. This side hustle eventually generated $2,000 to $4,000 per month and combined skills he had developed, such as sales and personal training knowledge.

How does a side hustle differ from a legit business (stage five)?

A side hustle operates on a small scale, often generating tier one to tier three income, while a legit business reaches tier four or five income, allowing for scalability, paid advertising, and potentially hiring others to handle work.

What is the importance of sales and communication skills in reaching higher income tiers?

Sales and communication skills are crucial in every stage of financial progression because they help attract clients, close deals, and create growth opportunities, whether in a side hustle or a business.

What advice does the speaker give to people who are introverted and struggle with communication?

The speaker acknowledges that introverts may struggle with communication and sales but emphasizes the importance of learning these skills. He suggests watching related content and practicing techniques to improve.