How I Went From -$15k to $8.7 Million (My Story)

Summary

Matt shares his inspiring journey from a desperate, broke state to building multiple successful companies, earning $8.7 million a year. He emphasizes the importance of mindset shifts, learning skills, owning equity, and creating systems for success, ultimately achieving financial freedom and a meaningful life.

Takeaways

• 💼 Matt turned his life around from a miserable past to running two successful companies, earning $8.7 million a year and living a life of travel and meaning.
• 💳 In his early life, Matt faced financial struggles, including being kicked out of his home at 18 and accumulating $15,000 in credit card debt.
• 🏫 Matt attended a prestigious business school but felt disillusioned by the traditional corporate path it prepared him for.
• 🌍 After a transformative trip, Matt realized the importance of autonomy and control over his life, leading him to reduce his work hours and learn new skills.
• 💻 Matt's entrepreneurial journey began with a coding school called Bitmaker, which he started with two friends and eventually sold for a significant profit.
• 🚨 Matt faced a major challenge when Bitmaker was raided by the government, but he managed to turn the situation around through public support and negotiation.
• 🌱 Matt's second major venture was Herb, a digital marketing company that he grew from a small user-generated website to a multi-million dollar business.
• 📈 Matt emphasizes the importance of owning equity in businesses and assets as a path to wealth, rather than just acquiring skills and working for others.
• 📚 Matt credits his success to four key mindset shifts, which he believes are essential for anyone looking to build a successful business and take charge of their life.
• 🤝 Matt believes in the power of networking and making connections, as evidenced by his outreach to over 5,000 people, which led to his involvement in Herb.
• 🌟 Matt's third company, Founder OS, focuses on helping other entrepreneurs build successful businesses by teaching them effective systems and strategies.

Q & A

What was Matt's annual income from his two companies?

Matt's two companies made him $8.7 million a year, and he was able to take home almost $4 million of that.

What was the turning point for Matt that led to his current success?

Matt's life turned around through a series of mindset shifts and key moments, starting from his rock-bottom experience to learning how to code and eventually building successful businesses.

Why did Matt feel that business school was broken?

Matt felt that business school was broken because it taught him to be a follower and a suit, rather than equipping him with the skills to be a founder and run his own business.

What was the name of the coding school Matt co-founded?

Matt co-founded a coding school called Bitmaker, which trained people to become software engineers.

How did Matt's life change after selling Bitmaker?

After selling Bitmaker, Matt had a significant amount of cash but still wanted to work and do something meaningful. He then founded Herb and later Founder OS, which led to his current success.

What was the government's issue with Bitmaker?

The government raided Bitmaker because they were operating as an unregistered private career college, giving people degrees without being authorized to do so.

How did Matt overcome his feelings of depression and despair?

Matt overcame his feelings of depression and despair by taking action, emailing over 5,000 people for business leads and advice, and eventually finding a new purpose with Herb and Founder OS.

What is the concept of 'Iy Guy' that Matt discovered?

Iy Guy is a Japanese concept representing one's reason for being, or calling in life. It exists at the intersection of what you love, what you're good at, what you can be paid for, and what the world needs.

What is the main focus of Matt's current business philosophy?

Matt's current business philosophy focuses on symbiotic success, creating a business that fuels your dreams rather than draining them, and designing a life that one is proud to live.

What are some of the tools Matt uses to automate his businesses?

Matt uses tools like ConvertKit for newsletters, Kajabi for websites, and Hyps Fury for scheduling content. He also emphasizes the importance of systems and automation to create time and location freedom.

How does Matt define 'retirement' in the context of his business philosophy?

Matt defines 'retirement' as a state where you stop sacrificing today for an imaginary tomorrow, and when today is complete in and of itself, you are retired.