How To Become A Millionaire

Would you like to know how to become a millionaire? we’ve got John joining us here and that’s what we’re talking about. So you want to become a millionaire. I have my perspective on this and it’s a little bit different than other people’s because I’m going to start off by saying it’s not about who you know. It’s so common in life people say, “it’s all about who you know” and I disagree. I think it’s about what you know first. Because you find these people who think it’s all about who you know and they suck and everything but they know people. And then you find out, oh this guy doesn’t know what he’s doing. So for me, it’s all about what you know, and what you’re willing to know, how hard you’re willing to work to know what you know, before you know people. And the connections will help but it’s all about what you know. Second towards becoming a millionaire you gotta run your own business. I mean yeah there’s people who, who are CEOs of companies. They work their way up the corporate ladder blah blah blah, but if you know your own business, it’s very hard to be a millionaire.You know like, it’s you got to be the one making the money. Otherwise, you’re making someone else rich. You have a job, you’re making someone else rich. Because that’s, that’s what business does. So along the line there are a couple things that will help you with this that significantly helped me. I’ll tell you my story, my journey. No debt is a really big deal like it just opens opportunities when you don’t have debt so the very first time when I quit my job, ten, eleven years ago to start my own business, we had a house payments of $750 a month and we had finished the basement and rented out for $500 a month. So that was a $250 a month. We had no car debt, no credit card debt, no nothing. There’s no other debt. And so when it came time for me to take a risk, I could because it didn’t matter and we’ve always stuck with that where we have no debt for anything and that will make a big difference in your ability to have luck You know, people talk about lucky preparation plus opportunity that just ruins the preparation part of it. Own your own business, be really good at something, stay out of debt, towards those are those are the three really big steps becoming a millionaire. Next, I would say get off your butt and work. I see so many people that they want to become a millionaire but they don’t want to do anything or they’re just lazy or they won’t think. You know? they’re willing to go out and dig with a shovel but they’re not willing to stop and say, “hey wait a minute I could do this smarter and think through the hard process”. And maybe the process doesn’t even, we don’t need to be digging here. Maybe we need to move on and find another way to do this and that’s something I think that people aren’t willing to think through digital processes, online processes ,the hard things in your business. How to build a website, here’s an example. I always come back to online stuff because that’s my business.

But you’re working on a website, you could, you hire someone else to say, “hey I want a website built”. Well okay what do you want? I don’t know, I like this. Well that’s fine but what about this corner piece right here there’s one little tiny piece? how do you want that? I don’t know know. Well you gotta think through it. If you’re not wanting to think through all these things, it’s really hard to make a success, make it succeed. You got, you gotta be willing to think. The last thing I have is you got to get help. You cannot do it on your own. There’s too much to do. There’s, there’s too many things to do, there’s too much to do in a single day and there’s not enough time. You got to get help so whether that’s help from a business partner or health outsourcing or hiring virtual workers or whatever it is, you have to get help to get the work done that you need to get done in your business. And the sooner you get that help, the better off you’re going to be. And for me, becoming a millionaire was less about the money and more about the time freedom. Because money doesn’t buy you time. Money doesn’t make you live a better lifestyle. Time freedom does. And so as I built my business and started making a lot of money it was really those decisions where I said, “no we’re not going to do that thing”. Even though we can make a lot of money with it, that thing requires me to do too much work and it’s not smart work. That thing is, affects my lifestyle and so I’m not going to do it. And so there is more than just one side of money in being a millionaire where I know some millionaires who are stupidly busy and really hate their lives.

And for me, I love my life and I get to spend so much time with my wife and my kids and skiing or biking or golfing or whatever I want to do. And the money is also there but at the time freedom is there. So how to be a millionaire with money and how to be a, how to get time freedom? Alright so I’m going to jump in here and am I millionaire? Yes and no. I’m not a millionaire that has millions in the bank but I am a millionaire in the sense of what a million dollars or multi millions of dollars could do for me. And I’ll come at this from a perspective years ago before I had my business, I worked in finance and I would help people try and achieve this goal of saving their money to become millionaires. Whether they use 401ks or what other plans are. Here’s the goal, you you get a million dollars and then you can retire. Usually, the goal is two million or something like that but you then start pulling money from it. So now, you have, you don’t have to have this job anymore that you hate you can retire. Now you’ve got enough chunk of change that you could give yourself an income so if you have two million dollars and you pull 3% of that each year that averages out to be about, what is it? six five or five thousand dollars a month, sixty thousand a year. And that’s what a millionaire can do. They can live off of sixty thousand dollars a year. That would be a pretty good retirement income. Well what if you didn’t have to save up of two million dollars to be able to do that? what if you build a business that has recurring, recurring income or residual income, or revenue and whether that, that’s real estate or whether that’s through hiring people in the Philippines that can do different services, that’s what I do. Or you have different products with things and that’s how I become a millionaire in that. If I don’t want to work tomorrow, I don’t have to. I’ve got money coming in. I’ve got that residual income. Yeah man that’s so good because it, I heard someone say it once, he created an e-book a digital product sells it online and it doesn’t sound great, it’s not a blockbuster product. But it makes $300 a month. Enough to pay his BMW payment. He was like, “dude this one simple thing that I did makes my car payment”. And that’s it and it’s done and it runs. And you do that enough times, One, you’re going to have someone that’ll fail but two you know some of them that’ll really succeed and you build this stable income that you don’t have to be there for so like we’ve gone on mini retirements where we just go for a month. Where we’re gone for a month and every time I come back, I find when I come back home, I do less work than I did before. And my business still grows and the money is still there. So yeah that’s the passive income because of the Internet is is a really revealing I like the idea of being a millionaire without actually having a million dollars. Yeah but just one other concluding things that I’ll say is the reason that I wanted to jump in here on this one, I loved having control of my life. I always say live on purpose, make a difference, be the hero. That living on purpose part, you know, you look at having, oh I have millions of dollars then I’ll be able to take control of my life. Okay you can take control of your life today. Yeah so we’ll end this video here I appreciate John so much for you taking the time to share your wisdom in these videos. Be sure to subscribe because this is a daily show now. Very excited about that. I put a lot of details down on the description below. And remember live on purpose, make a difference, and be the hero