Speaker 1: The key to getting rich isn't about waking up at
Speaker 1: five am or doing cold plunges. It's actually in the
Speaker 1: law of compounding, and no, not investing your money for
Speaker 1: forty years in compounding, but rather the small daily habits
Speaker 1: you stack up that compound throughout the years, making getting
Speaker 1: rich not just easy but inevitable. So here are seventeen
Speaker 1: small habits that have transformed my life and how you
Speaker 1: can apply them in your life. Starting with habit number one,
Speaker 1: I call the gratitude advantage. Now, this isn't what you've
Speaker 1: been hearing about, where you know, every day you write
Speaker 1: down all these little things that you're happy about. But
Speaker 1: it's sort of like that, because daily gratitude does rewire
Speaker 1: our brains for success. So how does it do that? Well?
Speaker 1: Early in my career, like when I was first getting started,
Speaker 1: you know, pre internet days, I couldn't just go online
Speaker 1: and watch YouTube videos of Jordan Peterson. I had to
Speaker 1: buy programs. I had to buy courses. Now, one of
Speaker 1: the first things I bought was a book called Think
Speaker 1: and Grow Rich from Napoleon Hill. Now this book was written,
Speaker 1: I believe, in nineteen thirty nineteen thirty seven, and it's
Speaker 1: been one of the best performing best selling books of
Speaker 1: all time, over one hundred million copies. And the reason
Speaker 1: why is because it's so powerful even today, and going
Speaker 1: through how to Think and how to grow rich, it
Speaker 1: shifted my entire mindset and literally shifted my entire life. Now.
Speaker 1: One of the things that it taught me is that
Speaker 1: we should write down a couple of key things every day.
Speaker 1: Not just I'm grateful for having food or a house
Speaker 1: like that, but more specifically, three things that I write
Speaker 1: down every day. Number one, what did I learn today? Now?
Speaker 1: We want to reflect on that, because even if bad
Speaker 1: things happen today, I could learn lessons from that that
Speaker 1: are helpful. All Right, So I write down what I
Speaker 1: learned and why I'm grateful to have learned those lessons. Okay,
Speaker 1: Then the second thing is I write down other things
Speaker 1: that I'm grateful for. And then the third thing I
Speaker 1: write down every day is what I did well. So again,
Speaker 1: these are lessons, these are stories, and this is what
Speaker 1: drives my life forward. But I think about it in
Speaker 1: an optimistic way, and I use a tool to do this.
Speaker 1: It's a Google form that I've set up to do this.
Speaker 1: If you want to download my Google form for free.
Speaker 1: We're going to put a link to it down below
Speaker 1: if you want to use my tool. But however you
Speaker 1: do it, it's up to you. But the key is
Speaker 1: that optimism is mandatory for wealth creation. I repeat, mandatory
Speaker 1: for wealth creation. I had to repeat that. So what
Speaker 1: do I mean by that? Well, in order to be
Speaker 1: an entrepreneur, in order to be successful in investing, you
Speaker 1: have to be optimistic about the outcome. You have to
Speaker 1: be optimistic about the future. So many times I've talked
Speaker 1: to friends or other people who want help starting a
Speaker 1: business or taking on an investment, and know, I break
Speaker 1: it down for them and I'll tell them, you know,
Speaker 1: how they can scale it or how they can move
Speaker 1: into it, and they just say, like, you know, but
Speaker 1: what if this bad thing happens, And I'm like, well,
Speaker 1: yeah it will, So what that's okay. We'll just figure
Speaker 1: out how to solve them. We'll figure out how to
Speaker 1: mitigate the risk, we'll figure out how to move on
Speaker 1: to the next one. And it's that optimistic lens. And
Speaker 1: without it, you're never going to get ahead, which brings
Speaker 1: us to habit number two. I call the capture rule.
Speaker 1: And I'd say that if you can think it, you
Speaker 1: should ink it. So what do I mean by that, Well,
Speaker 1: our brains should be used for creating ideas, not storing them.
Speaker 1: Our brains should be creating, our brains should be thinking,
Speaker 1: Our brains should be connecting dots. But the problem is,
Speaker 1: if you have an idea, it just sort of rattles
Speaker 1: around inside your brain, driving you crazy, creating stress, or
Speaker 1: you forget it. So if you can think it, you
Speaker 1: should inc it. So as soon as you have an idea,
Speaker 1: I must capture it, all right. What I like to
Speaker 1: say is that time is so valuable. You don't have
Speaker 1: the luxury of having the same thought twice, So as
Speaker 1: soon as it pops up, we write it down. Now,
Speaker 1: in the old days, I used to just carry around
Speaker 1: a notebook with me, and I have a pen and
Speaker 1: I just pull it the notebook and write it down. Okay.
Speaker 1: Then we got you know, the iPhone, and I started
Speaker 1: to put it into this app called ever note on
Speaker 1: my phone, and then you know, I could just plug
Speaker 1: everything in there. As a matter of fact, I still
Speaker 1: have a sheet in every note today and I call
Speaker 1: it my capture page, where I literally capture all ideas
Speaker 1: now today, for the last month or so, I've been
Speaker 1: wearing this wearable device. It's a wearable AI device, and
Speaker 1: it records everything I do, and so now I don't
Speaker 1: even have to push a button. I literally just talk
Speaker 1: and like I put in a tag say like you know,
Speaker 1: like take action, and then those tags, those notes can
Speaker 1: go straight to my assistant and automatically get done. So
Speaker 1: we're capturing everything to allow our mind to think. That
Speaker 1: allow mine to create ideas instead of trying to remember things,
Speaker 1: which brings us to hab at number three, which I
Speaker 1: call when your morning, when your day. Now, one of
Speaker 1: the worst things that you could do is to sit
Speaker 1: down in the morning at your computer and go, well,
Speaker 1: what are we going to work on today? Because if
Speaker 1: you want to drive your life forward, then you have
Speaker 1: to be doing the things necessary to get your goal.
Speaker 1: So you should already know what those things are. And
Speaker 1: it starts out the night before. Now. Typically I put
Speaker 1: my creative work in the morning, so I want my
Speaker 1: mind to be fresh for creating work, which means then
Speaker 1: at the end of the day, I should be doing
Speaker 1: my review when all the things I need to get done,
Speaker 1: looking at all those and then making the plan for
Speaker 1: what I want to do in the morning. When i'm fresh,
Speaker 1: I predecide the task, and by predeciding the task, it
Speaker 1: eliminates the precast do nation allows me to get more done.
Speaker 1: So a simple action step you can take is that,
Speaker 1: just tonight, before you go to bed, list out tomorrow's tasks. Now,
Speaker 1: I typically write down a few things like what's the
Speaker 1: one main thing I have to get done, the non negotiable.
Speaker 1: Then I'll write down what are three tasks that I
Speaker 1: have to get done, and I write all those down
Speaker 1: those are the non negotiables. And again, this is all
Speaker 1: done in the Google form that I fill out every
Speaker 1: single night. And again, if you want it, and I'll
Speaker 1: share it with you, it's down below. It's all free.
Speaker 1: There's a link to it if you want it. But
Speaker 1: it brings us to habit number four, what I call
Speaker 1: eating the frog first. Now, I see eating the frog
Speaker 1: first is about a term that where it's basically, you
Speaker 1: do your hardest task first. You do the thing that
Speaker 1: you don't want to do, the biggest thing, the hardest thing,
Speaker 1: the worst thing, and you do it first because of
Speaker 1: the rest of the day gets easier. Maybe you'd say
Speaker 1: the most important thing now for me, one of the
Speaker 1: most important things for me would be working out. I've
Speaker 1: been working out in the gym since I was about
Speaker 1: fifteen years old, and I would typically always go after
Speaker 1: work because I was never a morning person. Now, getting
Speaker 1: to work was already hard enough for me, and after
Speaker 1: work i'd go to the gym. The problem was, is
Speaker 1: things changed once I got married, I had kids. Going
Speaker 1: to the gym after work it was pretty difficult to
Speaker 1: stay consistent with. But because it was so important to me,
Speaker 1: I couldn't just fit in regular anymore. I figured, well,
Speaker 1: I guess I have to put it first. So what
Speaker 1: I'll do I guess is I'll have to wake up
Speaker 1: like two hours earlier every day so I could go
Speaker 1: before I go to work. Now, I remember sitting there
Speaker 1: in the morning, waking up in the dark for a
Speaker 1: couple of years and just like standing there in the dark,
Speaker 1: thinking of every reason that I didn't have to go
Speaker 1: to the gym, but I would go because it was
Speaker 1: so important to me. I put it first. Now today
Speaker 1: it's my most critical task. It's been so ingrained into
Speaker 1: me now that I look at it like I have
Speaker 1: to go to the gym because my day won't go
Speaker 1: near as good, it won't be near as productive if
Speaker 1: I don't do it. So eat the frog first. Put
Speaker 1: it first, the most important thing, which takes us to
Speaker 1: habit number five, which is what I call habit stacking.
Speaker 1: So what we do is we connect new habits to
Speaker 1: old habits. So, for example, obviously you know I'm making
Speaker 1: videos on YouTube. We make content across the social media platforms,
Speaker 1: and it's difficult to do that. I never have time
Speaker 1: to do that. I'm always too busy. So I guess
Speaker 1: let's create a habit and let's stack it on top
Speaker 1: of the other habits. So now I get up, I
Speaker 1: go to the gym, and as soon as I get
Speaker 1: out of the gym, I create social media posts. So
Speaker 1: now I've stacked another habit on top of another existing one.
Speaker 1: So all you want to do is attach new habits
Speaker 1: to existing ones that are already there. So if you
Speaker 1: can think of just one thing you do consistently. Do
Speaker 1: you wake up at the same time every day? Do
Speaker 1: you brush your teeth at the same time every day
Speaker 1: after you wake up? So okay, I brush my teeth
Speaker 1: as soon as I wake up, and then I'll add
Speaker 1: a habit right under the back of that. So think
Speaker 1: about one habit that you would like to build into
Speaker 1: your life that you can put on autopilot, write down
Speaker 1: one thing you're doing consistently, and then match those things
Speaker 1: up together and it'll be well in a way, which
Speaker 1: brings us to habit number six, which is what I
Speaker 1: call the time vault. And this is a key piece
Speaker 1: that most people kind of overlook, they just absolutely don't value.
Speaker 1: And I call it the vault because the vault is
Speaker 1: where you would put your most storage, your most treasured assets.
Speaker 1: And for us in economics, everything's built off of scarcity,
Speaker 1: and the most scarce thing in the world is time.
Speaker 1: So we've got to guard our time. We have to
Speaker 1: guard it fiercely. Now. The one problem is, just like
Speaker 1: your money, most of us wonder, you know, where it
Speaker 1: all went at the end of the month, like where
Speaker 1: did all my money go? Right, So then we learn
Speaker 1: how to budget our money. But time is sort of
Speaker 1: the same way. We look back and go where did
Speaker 1: all our time go? But most people don't think about
Speaker 1: budgeting their time, and so just like money, we don't
Speaker 1: want to figure it out like where it went afterwards.
Speaker 1: We want to plan in advance where that money will go.
Speaker 1: And with our time, it should be the same way,
Speaker 1: we plan in advance where time will go. Now, we
Speaker 1: also want to respect our time. We don't just plan sloppily.
Speaker 1: We don't just say, hey, I need an hour for
Speaker 1: this meeting or whatever, like maybe it's only fifteen minutes,
Speaker 1: maybe it's only ten minutes. I mean, if I'm going
Speaker 1: to meet with somebody else, maybe I only need ten
Speaker 1: minutes to meet with them. Do I really need an
Speaker 1: hour or I need to block that out. I need
Speaker 1: to respect my time. I also need to respect their time.
Speaker 1: I don't want to take up or waste their time,
Speaker 1: and in return, the respect my time as well. So
Speaker 1: an action step that you can take is to measure
Speaker 1: and budget where your time goes. Now. One thing that
Speaker 1: I do regularly multiple times a year is something called
Speaker 1: a time audit. So the first thing I want to
Speaker 1: do is figure out where is my time even going.
Speaker 1: So then I can track it for typically two weeks,
Speaker 1: where all my time is going, and then I can
Speaker 1: take a look back at it and go, hmmm, I
Speaker 1: should probably spend more time here, less time there. So
Speaker 1: when I budget out and I set new time blocks
Speaker 1: on my calendar to make sure I'm completing those tasks
Speaker 1: and spending the right amount of time in each section,
Speaker 1: which brings us to habit number seven. Decision diet. Now
Speaker 1: this is not diet as in food, although it could
Speaker 1: include that, But I think about the decision diet is
Speaker 1: trying to limit the amount of decisions that I have
Speaker 1: to make, because decision fatigue is real. If we can
Speaker 1: simplify our decisions, then we can preserve our energy, and
Speaker 1: more importantly, we can preserve our creativity. So all my
Speaker 1: creativity goes into the morning when my mind is fresh,
Speaker 1: and I put all the decisions like management and calls
Speaker 1: and things like that in the afternoon. So, for example,
Speaker 1: why do you think you see me wearing a black
Speaker 1: shirt every single day, Because that's one of the first
Speaker 1: decisions I make in the day. I don't want to
Speaker 1: make that decision, so I just wear the same thing
Speaker 1: at lunch. I don't think about what I'm gonna eat
Speaker 1: for lunch. I just eat the same thing every day. Now,
Speaker 1: the reason why is because fewer decisions mean I have
Speaker 1: more mental bandwidth to do higher value things. So an
Speaker 1: action step that you can easily do is just think
Speaker 1: about things that you do on a regular basis, like
Speaker 1: getting dressed or eating lunch. What do you wear every day?
Speaker 1: What do you have for lunch every day? How could
Speaker 1: you audit made those things so you don't have to
Speaker 1: think about them, putt any time, effort, in energy in
Speaker 1: or decisions into them. What about getting your haircut once
Speaker 1: a month? Should you just schedule that on autopilot? Right?
Speaker 1: What are those things that you can automate and take
Speaker 1: the decisions out now? Just make it in standing appointment
Speaker 1: every single month. What are the things that I can automate?
Speaker 1: What are the things I can get rid of? What
Speaker 1: are decisions so I could use my cognitive ability for
Speaker 1: higher value things which brings us to habit Number eight
Speaker 1: curate to elevate. Now, a lot of us watch the news.
Speaker 1: I mean you should. We should be paying attention to
Speaker 1: what's going on in the world. We should be looking
Speaker 1: at the way things are evolving around you know, in
Speaker 1: our business, our profession, and you know, for me specifically,
Speaker 1: I have to study the markets, have to study the
Speaker 1: macro environments all the time. I have to study marketing.
Speaker 1: I have to study content creation, I have to study
Speaker 1: technology coming out. So how do I stay on top
Speaker 1: of that? Well, instead of just curating my news, I
Speaker 1: also curate my learning you see, we have so much
Speaker 1: news that we can go through and we can read
Speaker 1: all the news websites. But I learned early on is
Speaker 1: that other people do that as well. And there's some
Speaker 1: people that write newsletters where they've already taken all the
Speaker 1: news and then they provide analysis to that. So there's
Speaker 1: a handful of email newsletters that I subscribe to, and
Speaker 1: they tell me what the macro markets are doing every day,
Speaker 1: they tell me what the tech markets are doing every day.
Speaker 1: They tell me what the greatest AI tools that are
Speaker 1: coming out every single day. And so these guys, they're
Speaker 1: already going through all the information and then they curate
Speaker 1: the very best of it and they give me the
Speaker 1: analysis on them. And so by following just a hand
Speaker 1: pick selection a curated list of newsletters and feeds and
Speaker 1: YouTube channels, then I get not just the news, but
Speaker 1: I get it analyzed, I get it curated, and I
Speaker 1: get it brought right to me, so I get quality
Speaker 1: inputs and I get quality outputs. And so you can
Speaker 1: do this very easily, just cure your news feed intentionally.
Speaker 1: So for example, on Twitter, what you could do is
Speaker 1: if you wanted to follow a bunch of people, I
Speaker 1: guess that's fine, But what you could do is make
Speaker 1: a list of people that you need to follow for
Speaker 1: certain things. So, for example, on my x profile, I
Speaker 1: have several lists. I have a macro list, I have
Speaker 1: a Bitcoin list, I have my AI coding list, I
Speaker 1: have my a I prompt list, and then I can
Speaker 1: just look at those people that provide the signal on
Speaker 1: those things. Now, the rest of my social media like
Speaker 1: Instagram or whatever, I don't even have any friends on there.
Speaker 1: I just follow people in the industry. It's where I
Speaker 1: curate the news, so I'm not wasting time. It's all
Speaker 1: learning for me, which brings us to habit number nine.
Speaker 1: The idea factory, and the idea factory produces well ideas. Now,
Speaker 1: what I've learned is that creativity is like a muscle,
Speaker 1: and that muscle, that creativity, it can be built up.
Speaker 1: So for example, right now, I run multiple eight figure businesses.
Speaker 1: On top of that, I'm an advisor or a chief
Speaker 1: visionary officer to four different companies that total over half
Speaker 1: a billion dollars. Now, these people have brought me on
Speaker 1: because of my creativity, my ability to see things, to
Speaker 1: see patterns, to connect dots that most people just don't see.
Speaker 1: But I wasn't always this way. I did it intentionally.
Speaker 1: It was about fifteen years ago again in my personal
Speaker 1: development quest. I was listening to a program I had
Speaker 1: purchased from Brian Tracy, and he talked about building the
Speaker 1: idea factory, and he talked about building the creative muscle,
Speaker 1: and he said that every day I should get out
Speaker 1: a piece of paper in the morning and write down
Speaker 1: ten ideas. So I thought, okay, let me try that now.
Speaker 1: In the beginning, the ideas were terrible. I didn't even
Speaker 1: know what to write down. It was just gibberish. But
Speaker 1: over time it got better and better and better, and
Speaker 1: today I see ideas everywhere. My idea factory is running
Speaker 1: full steam. But again it wasn't because I was born
Speaker 1: this way. It was because I built the idea factory intentionally.
Speaker 1: So the action step for you to do is what
Speaker 1: I did. Get out a piece of paper every morning,
Speaker 1: write down five ideas. Start with five, right, Write five
Speaker 1: ideas every morning, and just know they're going to be bad.
Speaker 1: In the beginning, you're not going to know what to write,
Speaker 1: but continue down that path. Now today I can't turn
Speaker 1: it off. I just get new ideas coming at me NonStop,
Speaker 1: never ending. So I built the habit. I built the
Speaker 1: idea factory, which brings us to the next habit happen.
Speaker 1: Number ten, just in time learning. You see, we've been
Speaker 1: taught that, especially in the information age, that knowledge is power,
Speaker 1: but that couldn't be further from the truth. Only knowledge
Speaker 1: apply this power. And so what we want is to
Speaker 1: learn on demand or learn exactly what we need to
Speaker 1: solve the problem right in front of us, what I
Speaker 1: call just in time. You see, there's three levels to
Speaker 1: learning and understanding something. The first level is of course,
Speaker 1: reading the information, receiving the information. The second level is
Speaker 1: then we need to apply the information, and then the
Speaker 1: third level, well understanding, is to teach the information. Now,
Speaker 1: what we want to do is we want to read it,
Speaker 1: learn it, and then we want to apply it right away,
Speaker 1: which means we should only be reading, we should only
Speaker 1: be learning things that we need right now. So if
Speaker 1: you look through my book library, hundreds and hundreds of books,
Speaker 1: they're super diverse. I have books on human resources or hiring.
Speaker 1: I have books on marketing, I have history books like
Speaker 1: you know, all these different things, right, And the reason
Speaker 1: why is because when I'm hiring people I'm reading books
Speaker 1: on hiring or human resoce and recruiting. And when I'm
Speaker 1: scaling my business, I'm reading books on scaling businesses. And
Speaker 1: when I'm building new marketing promos, then I'm reading books
Speaker 1: on marketing. Right I learn exactly what I need for
Speaker 1: the problem in hand, just in time now, at the
Speaker 1: time I need the information, I read it, I apply it,
Speaker 1: and because of that, I learn it faster. But it
Speaker 1: also saves me all the time of reading and watching
Speaker 1: and learning a bunch of things that I don't need
Speaker 1: right now. So the action step to take is what
Speaker 1: is the thing that you need to know right now
Speaker 1: to move your biggest domino, the biggest thing you need
Speaker 1: to move forward in your life right now? Then ignore
Speaker 1: everything else. Go get that information, receive it, apply the
Speaker 1: information right now to solve your problem immediately to see
Speaker 1: your growth blow up. A small business owner, are you
Speaker 1: buried in all types of work keeping you from the
Speaker 1: real thing that makes you money? Well that's where just
Speaker 1: Works comes in. They're the all in one platform that
Speaker 1: supports small business growth. You can get all their tools
Speaker 1: that help with benefits like pay ye, role and HR
Speaker 1: and compliance with transparent pricing. Now They help you hire
Speaker 1: top talent internationally, internew markets, quickly scale international operations without
Speaker 1: the workload, and for every how do I do it? Question,
Speaker 1: you can reach out to their expert staff from soul
Speaker 1: proprietor or a team of twenty. Just Works empowers all
Speaker 1: kinds of small businesses with real human support. So visit
Speaker 1: justworks dot com slash podcast to join the thousands of
Speaker 1: small businesses that trust just Works to take care of payroll, benefits,
Speaker 1: compliance and more. Again, that's Justworks dot Com slash Podcasts.
Speaker 1: Habit number eleven. The growth budget. Now, this is the
Speaker 1: next piece. So we're obviously we want to be growing, right,
Speaker 1: but we also want to be growing as fast as
Speaker 1: we can do. You want to grow a little bit
Speaker 1: in a year or a little bit in a week,
Speaker 1: which is what these habits actually bring to us. And
Speaker 1: to speed this process up, we need to be investing
Speaker 1: in ourselves. Now. If I've been watching my content for
Speaker 1: some time, you've probably heard me tell the story of
Speaker 1: how in two thousand and eight, during the Great Financial Crash,
Speaker 1: I got wiped out. I was completely caught off sides.
Speaker 1: I had built up a couple of businesses and sold
Speaker 1: them off some big exits. I did amazing in business,
Speaker 1: but I wasn't paying attention to the global financial market
Speaker 1: and it got me. So I had to go figure
Speaker 1: that out. That was the information, the just in time
Speaker 1: information that I needed right then. So what do I
Speaker 1: do well? I invested into investment newsletters, I invested into
Speaker 1: coaching offers, and I spent years spending lots of money,
Speaker 1: tens of thousands, hundreds of thousands of dollars on these newsletters,
Speaker 1: on these coaching programs. But they enabled me to get
Speaker 1: the knowledge and the information that I have today, and
Speaker 1: so I believe it's been proven for me the highest
Speaker 1: return on your investment comes from your own personal growth. Now,
Speaker 1: the markets come and go, they crash, they boom, My
Speaker 1: businesses could crash. But the knowledge that I have of
Speaker 1: how the markets work, how business works, it can never
Speaker 1: be taken from me, and so I can just go
Speaker 1: use it again and again, which is the highest return
Speaker 1: we can ever have. So an action step you is
Speaker 1: literally budget some money for learning and maybe for masterminds.
Speaker 1: Put some away, just like you'd put away for a
Speaker 1: new car, you'd put away for a new house, you'd
Speaker 1: put away for a vacation or whatever. Start budgeting money
Speaker 1: to go into a conference to learn something, a course,
Speaker 1: a program that you can buy, a mastermind that you
Speaker 1: can attend. Now I typically go to one to two
Speaker 1: masterminds every single year. They typically cost like twenty five
Speaker 1: thousand to fifty thousand dollars because they continue to pay
Speaker 1: those types of dividends for me, which brings us to
Speaker 1: the next habit, Habit number twelve. Autopilot your wealth. And
Speaker 1: what we want to do here is we want to
Speaker 1: automate our savings and really we want to think about
Speaker 1: paying ourselves first. So all of this, all these habits
Speaker 1: are about getting the life that I want. Of course,
Speaker 1: first I have to determine what that is that I want.
Speaker 1: So once I know what those things are, then I
Speaker 1: want to automate it. I want to guarantee my success,
Speaker 1: and so I do that thing with my wealth. I
Speaker 1: automate my savings. So for example, if I want to
Speaker 1: save money for vacation or for a car for my education,
Speaker 1: for example, well I would decide how much I need,
Speaker 1: when do I need it buy, what percentage of my
Speaker 1: income should I put aside to achieve that goal, and
Speaker 1: over what period of time? And then once I've figured
Speaker 1: all that out, spent the time and energy doing that.
Speaker 1: Then I automated so I never have to think through
Speaker 1: all of that ever again. So I spend the time upfront,
Speaker 1: I think through it, and then I automate it. So
Speaker 1: easy ways that you can do this are one, you
Speaker 1: could just go to your bank. You can open up
Speaker 1: as many bank accounts as you want, and then you know,
Speaker 1: let's let you do that, and then you can set
Speaker 1: up automatic transfers from bank account to bank account. So
Speaker 1: what I suggest is you want to have all your
Speaker 1: money go into one account, but you don't spend from
Speaker 1: that account. The money then distributes out to other accounts
Speaker 1: that spend. So this one, you know, pays the car,
Speaker 1: this one pays my loans, this one pays the bills
Speaker 1: or whatever it is. And you want to set that
Speaker 1: up automatically so you don't have to do this manually.
Speaker 1: And you could do it manually, but it defeats the
Speaker 1: whole purpose. Now there's a tool that I've checking out recently.
Speaker 1: It's called get sequence, and you can build this all
Speaker 1: out automated, in like an automated workflow. It's pretty cool.
Speaker 1: But however you do it, make sure to automate these
Speaker 1: things and automate your wealth, which brings us to have
Speaker 1: at number twelve weekly health pulse. Now, some people will
Speaker 1: tell you that you should look at your money every
Speaker 1: single day, and there's certainly nothing wrong with that, and
Speaker 1: maybe you should in the beginning, but I like to
Speaker 1: look at it more in depth every single week. It's
Speaker 1: like you know, stepping on the scale once a week
Speaker 1: to see how much weight you're gaining or losing, or
Speaker 1: checking your vital signs. And I want to understand my
Speaker 1: overall wealth in my business and for myself personally. Now,
Speaker 1: there's three things that you should be looking at every
Speaker 1: single week, at least every single month. Now. The first
Speaker 1: is the profit and loss. How much money did I
Speaker 1: bring in and how much money did I spend. I
Speaker 1: don't care if it's a business, I don't care if
Speaker 1: you're a W two. You should be looking at this.
Speaker 1: For yourself, we want to be looking at that every
Speaker 1: single week. Then I want to understand my statement of
Speaker 1: cash flows, like where did my money actually go? And
Speaker 1: then ultimately number three. Most people do not do this,
Speaker 1: but you should. I want to look at the balance sheet.
Speaker 1: The balance sheet is what I like to call my scorecard.
Speaker 1: This is where all my assets are listed minus all
Speaker 1: my liabilities, and then what's the balance of that. Like
Speaker 1: I said, that's the scorecard. Because the goal in the
Speaker 1: game of building wealth is to take earned income and
Speaker 1: turn it into assets, and this tells us how well
Speaker 1: we're doing in that game, and we can monitor that
Speaker 1: on a regular basis. So the action step for this
Speaker 1: is to figure out when every week you can do this. Again,
Speaker 1: I do it every week. I do it on Fridays.
Speaker 1: Maybe for you it's on a Sunday, but then you
Speaker 1: put it on your calendar. Then you get all three
Speaker 1: of these reports. If you don't have them, you need
Speaker 1: to figure out how to get them so you can
Speaker 1: review them every single week. Now this brings us to
Speaker 1: habit number fourteen income insurance, because now that we're looking
Speaker 1: at our profits, how many streams of profits or income
Speaker 1: do we have? And if it's just one, then we
Speaker 1: need to be thinking about how we can diversify that income.
Speaker 1: You've heard many times that the wealthy have multiple streams
Speaker 1: of income, but I think most people get that wrong
Speaker 1: when they think about it. You see, what we want
Speaker 1: is we want to diversify our income sources. So we're
Speaker 1: not beholding to just one income stream. But like I said,
Speaker 1: it's not how most people think about it. Now. I
Speaker 1: had to learn this lesson the hard way. What happened
Speaker 1: to me back in two thousand and eighties, as I
Speaker 1: told you earlier, is that I had multiple businesses and
Speaker 1: I had two big exits. I sold them off and
Speaker 1: I sold all that and I put it into investments.
Speaker 1: And when the market's crashed, I found myself owing a
Speaker 1: lot of money, but I had no income. I had
Speaker 1: sold my income streams. So whether you sell your income
Speaker 1: streams or you only have one income stream and you
Speaker 1: lose it, the risk is still the same. So if
Speaker 1: I have a business, I don't want all my business
Speaker 1: to be coming from just one customer. I want to
Speaker 1: have multiple customers. As a matter of fact, if you
Speaker 1: want to sell your business and you only had one customer,
Speaker 1: your business isn't worth a lot of money because it's
Speaker 1: so risky. So you want to diversify the income streams
Speaker 1: across one multiple customers, two maybe across multiple products, so
Speaker 1: you don't have to go start multiple businesses. You see,
Speaker 1: that's where most people get this wrong. They want to
Speaker 1: start all these businesses here's focus on your core competency,
Speaker 1: but have multiple customers, have multiple products. Now let's say
Speaker 1: that you're an employee. Well, it's the same thing. Your
Speaker 1: income is then coming from just one source, your job.
Speaker 1: So for you, you probably should start thinking about some
Speaker 1: side hustle, some contract work that you could do to
Speaker 1: diversify those income streams, at least building up the skills.
Speaker 1: So if you need to do you could go find
Speaker 1: more income at least have the skills to do that.
Speaker 1: The one thing they can't take away. So the action
Speaker 1: step here is to build multiple income streams. Again, if
Speaker 1: you have a business, how can I find more customers?
Speaker 1: How can we launch more products within the existing business?
Speaker 1: Not that I need to go start new businesses that
Speaker 1: makes sense. This brings us to habit fifteen, build or
Speaker 1: be built. If you follow me on social media, you
Speaker 1: see the posting about this probably all the time, and
Speaker 1: it basically means that we should engineer our ideal life.
Speaker 1: So for me, I want to think about what is
Speaker 1: my ideal life? So for example, I was coaching one
Speaker 1: of my high end members and he was very well off,
Speaker 1: and he came up in front of the crowd. You know,
Speaker 1: I was talking to him in the hot seat and
Speaker 1: he said, you know, Mark, the problem is I feel
Speaker 1: like I'm just not spending enough time with my wife.
Speaker 1: I think I'm working way too much. I don't spend
Speaker 1: enough time with her. And I said, great, it's a
Speaker 1: good problem. So how much time should you spend with
Speaker 1: your wife? But of course he didn't know the answer
Speaker 1: to that. So the question is how much time should
Speaker 1: you spend with your wife if you want to have
Speaker 1: a good relationship, or how much time with your kids?
Speaker 1: Or what do you do with your health to look
Speaker 1: you know, what do you want your health to look like?
Speaker 1: Or what do you do with your day to day life?
Speaker 1: What do you want that to look like? You see,
Speaker 1: what we want to do is design what our ideal
Speaker 1: life is. And if we can define it, then we
Speaker 1: can engineer it our business, our relationships, our legacy. But
Speaker 1: we have to have that clear vision first and we
Speaker 1: have to have our aim. And then once we have
Speaker 1: our aim, our path becomes clear. So the action step
Speaker 1: to take is to spend a little bit of time
Speaker 1: or maybe a lot of time thinking about this. Now.
Speaker 1: The way that I would do this is I future
Speaker 1: pace it, so I think of myself in the future,
Speaker 1: some time in the future, and think about yourself and
Speaker 1: imagine what your ideal day would look like. Not your
Speaker 1: single dream day, right, but just like your average day
Speaker 1: in the future. You want a billion dollars, what would
Speaker 1: you do? You know, you know billionaires still work, right,
Speaker 1: It's because they found things they like to do. So
Speaker 1: what would those things be for you? What would you
Speaker 1: wake up? Would you have a spouse, would you be married,
Speaker 1: Would you be in a different country. Would you be
Speaker 1: on a beach, would you be in the mountains? What
Speaker 1: would your day be like? Would you be filled with
Speaker 1: just leisure and lay down all day for eighteen hours
Speaker 1: a day, or would you like work on things that
Speaker 1: bring you energy? Would you be using creativity at night?
Speaker 1: Would you be with family or friends? Would you be
Speaker 1: doing dinners? What would you be doing? What would that
Speaker 1: look like? See? Once you figure out what you want
Speaker 1: your lifestyle to look like, then you can work backwards
Speaker 1: from there. So the action step here is to think
Speaker 1: through that, write that down, summarize it into a single
Speaker 1: statement about yourself. And I'd recommend them to write it
Speaker 1: down and probably print it out and put it on
Speaker 1: your workspace or something like that, so you can see
Speaker 1: it every single day, and then your mind can start
Speaker 1: working towards that goal, which brings us to hab A sixteen,
Speaker 1: the legacy lens. If we really want to achieve these things,
Speaker 1: and we really want to have that legacy, then we
Speaker 1: have to reflect daily on what our legacy is building towards.
Speaker 1: So journaling, of course at the end day, is part
Speaker 1: of that. It gets us to sit down and think
Speaker 1: through the lessons that we've learned and how we're tracking,
Speaker 1: how we're pacing to do those things. But of course
Speaker 1: it only works if we know where we're trying to go.
Speaker 1: You see, legacy focus creates what we call purposeful living,
Speaker 1: and that's what most of us actually want, right we
Speaker 1: want a purpose. Society has kind of trained most people
Speaker 1: to think that they should work for forty years save
Speaker 1: for a retirement, so one day you could just like,
Speaker 1: live off your savings and do nothing. What people really want,
Speaker 1: they want a life of purpose, of meaning and challenge.
Speaker 1: And so we do that by journaling, and then by
Speaker 1: reflecting on what we're doing, What are we doing, what
Speaker 1: do we like, what do we hate? What gives us energy,
Speaker 1: what takes our energy? What do we want to do
Speaker 1: more of? What should we do less of? What do
Speaker 1: we absolutely love? What do we absolutely hate? Write all
Speaker 1: those things down, reflect on them, and then think about
Speaker 1: how you can take action to move those things forward,
Speaker 1: which brings us to habit number seventeen, blissfully dissatisfied. Now,
Speaker 1: this came from ed Milette's mindset, and it's sort of
Speaker 1: like ignorance is bliss, But it's more about being able
Speaker 1: to balance being content on one side, but on the
Speaker 1: other side continuing to want more. It's a tough thing
Speaker 1: to balance being happy with where I'm at, being happy
Speaker 1: with the progress that I've made, but at the same
Speaker 1: time pushing to continue to get better. I mean, why
Speaker 1: wouldn't we Once we figured out what our poor values are,
Speaker 1: the goal should just be to continue to get better
Speaker 1: and better at those. Not be a better husband or
Speaker 1: a better wife, or a better father or son or daughter.
Speaker 1: Why not be better in your position, at your role?
Speaker 1: Why not be in better shape? Why not be better right?
Speaker 1: And so be content on where you're at with the
Speaker 1: progress you've made, but continuing to push more. So the
Speaker 1: action step here is to regularly assess and push for growth,
Speaker 1: because it's that growth, it's the hope of achieving the
Speaker 1: growth that provides us the energy for the growth that
Speaker 1: we need, and the hope comes from knowing or believing
Speaker 1: that we can achieve that goal. So, what's my health goal,
Speaker 1: what's my relationship goal, what's my business goal, what's my
Speaker 1: own personal goal? How do I assess those? How do
Speaker 1: I push for growth in those areas? That gives us hope?
Speaker 1: And that's what keeps us going. Now, these habits might
Speaker 1: seem small individually, but when you combine them together, their
Speaker 1: combining effect creates extraordinary wealth. It provides clarity, provides massive impact.
Speaker 1: And if you're serious about building lasting wealth and designing
Speaker 1: your life intentionally, then you might want to watch this
Speaker 1: video about how to live your life. I like a CEO,
Speaker 1: even if you're not. If you really want to see
Speaker 1: growth in your life, and I'll see you over there,