About 4 months ago, my business broke 7-figures and I became a technical millionaire (on paper).
Although many people think that reaching millionaire status is this incredible transcendent experience, I found it to be a little underwhelming.
To me, it just meant that things were business as usual and I got a placard from Clickfunnels signifying that I was a member of the “2 Comma Club”.
I don’t say this to dissuade you from pursuing business or earning lots of money.
I’m simply sharing my truth and trying to show you where I am coming to help you understand that the advice I am about to give isn’t theory or something that I read…
It’s the same advice that got me to where I am today.
If I were to go back 10 years and sit down with my 20-year old self, here are the 7 things that I would tell him about life, success, and making millions.
1. Focus On Your Personal Growth First (The Money Will Always Be There)
The first thing that I would tell myself is also the hardest thing to hear… The money will always be there.
What do I mean by this?
I feel like most young men today feel like they HAVE to go out and earn millions as quickly as they possibly can.
Although they’ve shunned the rat race, they have entered themselves into an equally destructive race for the proverbial pot of gold.
I know plenty of young guys who forgo travel, dating, self-exploration, and their passions in order to pursue the all mighty dollar.
I’m not going to lie to you and tell you that making money won’t take sacrifice, but I will say that if you are serious about making money in an authentic way doing something you love… You’ve gotta take the time to know yourself.
I recommend that every 20-year old spend a year (or two) traveling to a foreign country by themselves.
It will give you perspective, people skills, and a self-reliance that will be invaluable when it comes time to enter the business world.
Travel, read, attend events, apprentice under someone you respect for free.
Do what you need to do in your early 20’s so that you can become a person who is capable of making millions in their mid to late 20’s.
2. Working Harder Isn’t Always the Answer
During my time as an entrepreneur, I’ve worked 16 hour days and I’ve worked 6 hour days and I can tell you with no reservations, working 16 hour days doesn’t always equate to more progress.
I see so many people who are so focused on speed and “Getting Sh*t Done” that they forget to take a step back and consider their business or situation from all angles.
Ironically, I found that the harder I worked, the fewer important tasks I accomplished.
By focusing on building a balanced life, you will force yourself to focus only on the most important, profit-driving tasks in your business.
When you have social commitments that pull you away from the office, you will be forced to make your moves strategically instead of frantically.
Working hard IS important.
But it’s only part of the equation and can often work to your detriment.
3. Focus on Building Systems (Or You’re Just Buying Yourself Another Job)
A few years ago I found myself stuck in a situation where even though I technically “Owned” a business… The business really owned me.
It was like I owned a 9–5 job.
I couldn’t make money unless I was working and, because I didn’t understand the power of systems and automation, I nearly went broke and lost my business.
If you want to become rich, then you must develop a laser like focus on building bulletproof systems.
You need systems for your lead generation, sales, customer retention, and every other facet of your business or you will fail.
You will become a glorified consultant working yourself to the bone in order to achieve lack luster results.
In entrepreneurship, systems win every single time.
4. Your Income is Directly Proportional to the Quality of Your Network
If you want to rapidly increase the amount of money that you are earning then go make friends with 5 people earning 10–20X what you currently net.
When I started expanding my social circle and spending more time with A+ players, my income SKYROCKETED and my business began to take off.
As Jim Rohn says, “You are the average of the five people you spend your time with most”.
And your income will typically average out to the income of your 5 closest friends.
If you want more money, start by upgrading your social circle.
5. Focus on Your Health and Energy Before Money
One of the biggest mistakes I made in my own journey was to sacrifice my health in pursuit of more money.
Most people underestimate the importance that diet, exercise, sleep, and lifestyle play into your ability to perform in the boardroom.
When I don’t sleep 7 hours a night, get my bike ride in, or my morning green smoothie… My performance suffers and I can feel it.
If you want to succeed at the game of business, start by succeeding at the game of your physical health.
Exercise for 30 minutes five times a week.
Sleep at least 7 hours a night.
Eat a diet comprised of 80% fresh vegetables, 20% seafood and organic meats.
And get out in the sun every single day.
You can thank me later.
6. Spend Way Less than You Earn
Another common pitfall that many entrepreneurs fall into is that they earn a little bit of money, say $8,000-$15,000 a month and then they radically upgrade their lifestyle.
I still live in the same apartment I lived in 3 years ago.
I drive a relatively inexpensive Subaru and follow a minimalist lifestyle (which you can read about here)
As a result, I am not weighed down with debt and have the ability to invest my money heavily into my business, my relationships, and my personal growth.
A good rule of thumb is to spend only 70% of everything that you earn.
10% goes towards your personal growth
10% you can invest in your business
And 10% you invest into cash producing assets and don’t touch it until you are 60.
7. Have Fun
Look… No amount of money will make you happy if you don’t enjoy what you do.
I’m not a proponent of always following your passions, but you MUST enjoy the work that you do every day.
If you are in a career or industry that you hate, there is no way that you will succeed and earn the kind of money that you really want.
Find something that you like doing and become the best in the world at it.
That’s the fastest way to make money AND live a life that you love.
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