The document outlines a 15-step framework for getting rich. It recommends establishing clear goals and breaking them down into smaller, achievable pieces. Additional steps include educating yourself, working daily, outsourcing tasks, saving and investing money through cash flow and appreciation investments, reinvesting profits, finding a mentor, building a network, and leveraging contacts to diversify investments. The framework advises living frugally when starting out and persisting through challenges, with the ultimate goal of selling the business to start again on a larger scale.
The document outlines a 15-step framework for getting rich. It recommends establishing clear goals and breaking them down into smaller, achievable pieces. Additional steps include educating yourself, working daily, outsourcing tasks, saving and investing money through cash flow and appreciation investments, reinvesting profits, finding a mentor, building a network, and leveraging contacts to diversify investments. The framework advises living frugally when starting out and persisting through challenges, with the ultimate goal of selling the business to start again on a larger scale.
The document outlines a 15-step framework for getting rich. It recommends establishing clear goals and breaking them down into smaller, achievable pieces. Additional steps include educating yourself, working daily, outsourcing tasks, saving and investing money through cash flow and appreciation investments, reinvesting profits, finding a mentor, building a network, and leveraging contacts to diversify investments. The framework advises living frugally when starting out and persisting through challenges, with the ultimate goal of selling the business to start again on a larger scale.
1) Establish the goal a. ‘’every successful person out there writes down their goals’’ 2) Break it down and do the math. a. ‘’money is a number game’’ b. ‘’if you’re unable to break down goals into smaller pieces, you will never achieves then’’ 3) Educate yourself and build skills 4) Work every single day a. ‘’the more work you put in, the quicker you’ll see the result’’ 5) Get shit done. 6) Outsource repititve tasks to others a. ‘’every successful person out there went 90% to 100% on their strengths’’ b. ‘’you will never find anyone to work as hard as you do for your business 7) Analyze and improve 8) Live like you’re poor a. ‘’the longer you live like you’re poor when you don’t have to, the richer you become!’’ 9) Save to invest a. ‘’most people think that you work harder in order to make money so you can buy the things you want!’’ b. ‘’rich people work hard, to make money ,so they can buy themselves money making machines.’’ 10) INVEST one should only make two types of investment at this point a) Cash flow investments b) Appreciation investment or capital gains Top 5 most popular cashflow investments Rental income from real estate Certificates of deposit or cds Bonds Dividends Peer to peer lending Top 5 most popular appreciation investment 1) Stocks 2) Real estate 3) Gold and silvers 4) Art and collectibles 5) Crypto currencies 11) Reinvest in the main business ‘’allow half of the money the business is generating you to go into investments and use the other half to solidify and improve the barriers itself’’ There are two ways of scalling a business -horizontally= building new products -vertically= better existing product 12)Find a successful mentor a. ‘’successful people love to help other people became successful as long as they prove themselves worthy’’ 13)Build your network a. ‘’at the top it isn’t lonely’’ b. ‘’your network is your net worht’’ 14)Leverage your contact to diversify your portfolio 15)Sell the business & do it all over again but bigger 16)DO NOT QUIT WHEN IT GETS HARDS.