S1: Welcome to Building Billions, the podcast for business owners who
S1: are getting things done and scaling fast. I help business
S1: owners create billions of dollars in value over the past decade,
S1: and now I'm here to share the strategies that actually work.
S1: This show is for the doers, the ones solving problems,
S1: making tough calls, and building real value. If you're ready
S1: for straight talk on what it takes to grow a
S1: massive business, you're in the right place. Let's get to work.
S2: These five money rules are what allowed me to make
S2: 100 million by the age of 30. They're the mental
S2: rules that separate rich thinking from broke thinking, and separate
S2: the top 1% from the bottom 1% of earners. And
S2: I genuinely believe if you can follow these five rules,
S2: you will create a rich mindset that will attract real
S2: wealth into your life. The first rule is to realize
S2: that there is already an infinite amount of money out
S2: there for everyone. You just have to want it and
S2: be ready to take it. So the mindset shift is
S2: that you aren't taking anything. There is no limitation on money,
S2: and there is more than enough for anyone who is
S2: willing to pursue it. To be honest, there are so
S2: many rich and successful people out there. Whenever I go shopping,
S2: whenever I've been to the south of France or into Greece,
S2: and watch the people who show up in these stores
S2: and buy designer clothes like it's nothing, I realize that
S2: it is quite literally a way that they view money.
S2: They do not feel guilty about pursuing wealth. They understand
S2: that there is always more money to be made and
S2: they can create it. And if you have the mindset
S2: of being able to create it, instead of thinking that
S2: you're pursuing money for selfish reasons or like you're taking
S2: it from somebody else, you are going to actually attract
S2: the type of money that you want to have in
S2: your life. Because what's so important to understand is wealth
S2: creation cannot coincide with scarcity. You have to maintain a
S2: mindset about growth and possibility and understanding that it is
S2: possible for you. In fact, money flows towards people who
S2: provide value, which means that becoming wealthier just means contributing more.
S2: When I was 19 years old, I was giving all
S2: of my time in the summers to going to downtown Portland,
S2: feeding homeless people underneath the bridges. I thought that this
S2: was how I was going to make an impact on
S2: the world. Natalie with 1 to 1 relationships, was going
S2: to be able to help all of these people until
S2: a mentor of mine asked me this question, what is
S2: the bigger impact that you want to make? When I
S2: thought about that, I wanted to be able to help
S2: millions of people and me myself. Giving my time under
S2: bridges was only going to be able to help dozens.
S2: So this started to get me thinking about the fact
S2: that in order to be able to make a bigger impact,
S2: you actually have to have resources. And there's no scarcity
S2: of resources if you know how to generate money. So
S2: once you've tackled your fear of making money, the next
S2: rule is to remove your fears around spending money. Figure
S2: out what your immediate reactions are to spending money. This
S2: is what I'm going to ask you to do. Pull
S2: out your phone, create a spreadsheet, or just write this
S2: down on a piece of paper. List out in the
S2: first column what it is that you want to buy
S2: or invest in. Then in the next column, write down
S2: your reaction to spending that money, and then in the
S2: next column, write down how you could positively reframe those thoughts.
S2: So for instance, if you want to invest in a
S2: course you're excited about this course, you see how it
S2: could benefit you. But instead of actually making the investment,
S2: you self-talk your way out of it and you start
S2: to think, well, what if my husband's going to be
S2: mad at me for spending this money? How could you
S2: positively reframe that to where your thought instead is? My
S2: husband is going to be so proud of the money
S2: I'm going to earn from making this investment in this course.
S2: So what we did there, we listed what we wanted,
S2: we listed the fear around it. And then the positive reframe,
S2: which is going to make you more bought in to
S2: actually using the course. I'll never forget seven years ago
S2: when I was at this conference and I was sitting
S2: in the front row, I was so excited to be there.
S2: It was one of the first conferences I'd ever been to,
S2: and this woman came on stage and she was amazing
S2: and talking about all of her marketing tactics. And at
S2: the end of her presentation, she made an offer. She
S2: said that there was a $2,500 offer for her marketing course.
S2: For every single playbook that she used in order to
S2: grow her brand for a split second. I was excited
S2: and motivated to make this purchase, and instead of staying
S2: excited and taking the action to make the investment, I
S2: got freaked out because I thought, what would Brandon think?
S2: Maybe I should use his money. I don't know if
S2: I want to invest my money because I made less money,
S2: a lot less money than him at the time. What
S2: if it sounds silly to him that I use this
S2: money for this investment and then just decided, nope, I'm
S2: not going to take any action? And I walked away.
S2: That is what kept me broke. It is a fixed
S2: mindset that you have to ask other people. You have
S2: to get some sort of validation instead of you knowing
S2: that this is what you want to do, that you
S2: are going to make the most of it and you
S2: can spend the money and it is going to come
S2: back to you. The third money rule is if you
S2: want to have money, you have to learn about money.
S2: I'm not here telling you that you should just go
S2: out and spend money on ridiculous things. No, you need
S2: to have goals and have clear understanding of what you
S2: want to use the money for and identify those beliefs.
S2: But then you have to learn about money. Learning about
S2: money is something that you should never stop doing. It
S2: starts with picking up super simple books like money for dummies,
S2: taxes for dummies. But my strong recommendation is that you
S2: continue to learn about money, and you continue to read
S2: at least one book a year about something in money,
S2: something financially related that you don't currently understand. Because if
S2: you want to build wealth, you actually have to confront
S2: what you don't know about money. You have to understand
S2: where to put your money. Once you make it, how
S2: does it grow without you actually being the one that's
S2: putting your energy and effort into making it grow? There
S2: are so many different ways for you to do that,
S2: and most people never get rich because they never bother
S2: to actually learn how it works. So here's my tip
S2: if you actually want to learn about money, this is
S2: what you do. You start turning on the news and
S2: you listen to people talk about money. At first you
S2: were going to have no idea what they are saying,
S2: but what you do is every time they say a
S2: word that you don't understand, like compounding interest or the
S2: inflation rate, you look it up. And so you start
S2: to learn the language of money, because you're making it
S2: a habit to actually fill in your knowledge gaps as
S2: soon as you notice them. The fourth rule of money
S2: is to invest, not save. So many people have this backwards.
S2: This broke money mindset of not buying Starbucks, penny pinching,
S2: cutting coupons, and restricting your spending will not make you
S2: a millionaire. Just think about this. If you were to
S2: look at a financial statement in a business and you
S2: wanted the business to make $1 million, you wouldn't go
S2: to the expense line and just start cutting all of
S2: the expenses. Why? Because the expenses don't actually drive the
S2: growth of the revenue. What moves the growth is actually
S2: selling something. It is in the creation of products and
S2: services that then somebody sells in order to generate revenue.
S2: Creating $1 million business has nothing to do with cutting
S2: your expenses. So if you take that and think about
S2: this in your own life and in your own income,
S2: you spending less money isn't going to make you a
S2: millionaire any faster. It's actually a waste of time. And
S2: instead of you. Penny pinching and thinking about all the
S2: ways that you can save money if you spent the
S2: majority of your time, think with 90% of your time
S2: only focused on how do I make more money? When
S2: you wake up in the morning, you ask yourself, how
S2: am I making more money today? If you don't have
S2: an answer to that, you should not spend the 90%
S2: of your day just going about the motions. You should
S2: figure out what do you have to do in order
S2: to make more money. And for most people, this is
S2: learning a new skill that has something to do with
S2: marketing and sales because similar to a business, the revenue line,
S2: you have to market something and then sell it in
S2: order to increase revenue inside your own skill set, inside
S2: your own income statement. What do you have to add
S2: to yourself that is creating production so that you can
S2: grow your income and not just focus on your expenses?
S2: We spend way too much time focusing on expenses and
S2: not enough time actually focused on the growth. I used
S2: to only buy things on sale when I would go
S2: into a store. I would be lying to the very
S2: back of the store where the sales section was, and
S2: I would just pick through any of the things that
S2: were on sale, and I would buy multiple things because
S2: it made me feel good that I was able to
S2: buy multiple things. Then I realized one day that I
S2: didn't actually buy anything I wanted. I just bought it
S2: because it was on sale. And this broke mindset was
S2: such an epiphany to me, because I didn't even realize
S2: that I didn't buy things that I wanted. It was
S2: more so like I was just checking something off the
S2: list and feeling good that I was able to buy
S2: a lot of things. And so now I only buy
S2: things that I like. And if it happens to be
S2: more expensive than the things that are on sale, I'm
S2: okay with that. But I don't have this thought process
S2: that I have to constrict and I have to save.
S2: And I can only use the coupons and the gift
S2: cards and the sale item things. The fifth money rule,
S2: and the most important money rule is to know how
S2: much money you actually want. But it first starts with
S2: actually picking the dollar amount. So this is what I
S2: would recommend you do. Similar to step two, I want
S2: you to pull out a piece of paper or open
S2: up your phone. Create a spreadsheet, and I want you
S2: to write down all of the financial targets that you
S2: have now. Financial targets do sound like a net worth
S2: target how much cash you have in your bank account,
S2: but it also sounds like the amount of money you
S2: want to pay for a house, the amount of money
S2: you want to pay for your cars, the amount of
S2: money you want to spend on glam every month, or
S2: at Sephora every month, or your clothes budget. Can you
S2: imagine a world where you actually have a shoe budget
S2: or a purse budget? This is what I want you
S2: to write down in the first column. Then I want
S2: you to write down how much these things actually cost.
S2: And then I want you to write down how much
S2: money you would need to make per month in order
S2: for you to afford this lifestyle. This is a very
S2: simple equation, because what you can look at then is
S2: how much money do you want to be making? Okay, great.
S2: How much money are you actually making? Pull up your
S2: bank account. I know it's not fun. I know it's
S2: not sexy. I know it's not interesting. And sometimes it's
S2: actually a little hard to do. But pull it up
S2: so that you actually understand how much money you take
S2: home every single month compared to how much money you
S2: want to make, and then understand what the delta is.
S2: There's a difference between today and the future. So in
S2: order to get to the future, you have to start
S2: thinking with what do I need to learn and what
S2: am I not doing right now in order to make
S2: this amount of money? That is all you have to
S2: figure out. And it is so freaking simple. One of
S2: my hacks for getting out of my head as soon
S2: as I create this list is I get in proximity
S2: to the things that I want. This has been so
S2: successful for me when I wanted to be able to
S2: have a pair of Louboutin shoes before I could afford them,
S2: I went into the Christian Louboutin store. I actually walked
S2: in the store and I tried on the shoes and
S2: I was like, oh, I like these. Oh, I don't
S2: like these. Oh, this is what I would want my
S2: closet to be filled with one day. And I got
S2: in proximity to the thing, because the more you write
S2: down something that you want and then you start to
S2: separate yourself from, okay, I'm here today and this thing
S2: that I want is in the future and I don't
S2: really know how I'm going to get there. It feels
S2: hard and it feels heavy. And to be honest, I
S2: used to get sad about it. Instead, pretend as if
S2: you could actually have those things, if you pretended like
S2: you could have those things. Ideally, you just get close
S2: to those things and you start to understand, like, what
S2: do they feel like? If you want to buy a
S2: new car, instead of just dreaming about this car that
S2: you've never seen outside of maybe an Instagram ad or
S2: some sort of promotion, go test. Drive the freaking car.
S2: Get close to it, because the closer that you get
S2: to it, it becomes real to you. And that is
S2: this whole broke versus rich money mindset. These things are real.
S2: You can have them. They are available to somebody on
S2: this planet, and somebody is going out there and doing
S2: what it takes to get there. That person could be you.
S2: And the more real it is, and the more you
S2: actually believe that it's possible because you're experiencing it, the
S2: higher the likelihood that you're going to take the actions
S2: that are required to get there.
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