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Show Notes
https://www.youtube.com/watch?v=EDHgEPd2mE0
What does it take to be a millionaire or make $1 million per year? What do I need to change in order to get there?
Today I had a mental breakthrough where I realised that I didn't actually believe being rich was possible for me.
0:00 - Introduction0:40 - What happened today2:55 - My incorrect beliefs about making $1 million4:09 - Hard work vs solving hard problems7:15 - I haven't even thought it was possible10:40 - Value vs effort14:35 - I need to start outsourcing17:55 - Time to step up as a human24:40 - It'll suck in the beginning trying to learn to hire people28:00 - Nothing has changed in my day to day, but my mindset has changed29:05 - $1 million won't make me happy31:38 - I'm not perfect
Shark Tank How He Made His First $1 Million
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Transcription:
what does it take to be a millionaire to make a million dollars per year and how do you get there what what do i need to change in order for me to get there and i wanted to sit down and record this quick video not really sure if i'm going to publish it or if it'd just be for me but i definitely have in my mind at the moment that i could make a decent income through my business you're talking low to mid six figures so like three to five hundred thousand dollar range i feel like within the next few years that is possible in my business with the strategy that i'm implementing and that is extremely good money don't get me wrong but i went out with my partner crystal today and we went for a walk along like the bay down here and we were just sitting on the beach getting some sun out the front of these houses and these houses are just absolutely amazing right on the bay right on the water just done up really well really beautiful it would just look like amazing places to live with such a beautiful view like who wouldn't want to have a coffee in the morning looking out at that and i just had this kind of moment sitting there where i was like how i think i i think i even said it to crystal i was like how does one earn enough money to even afford a house like this like these houses would be worth multiple millions of dollars three five million plus probably it's like how does someone earn enough money to afford a place like this it just kind of feels out of reach it just kind of seems like ridiculous money and then i just like even just saying that i had this realization that my own mindset i feel like that low to mid six figure is definitely achievable i've achieved low six figures in the hundred thousand dollar range multiple times in my life through being an employee and through running a business so i know that that's achievable and actually achieving that feels quite easy to me and i know that's kind of hard to say and hard to publish i don't want to gloat about that or anything like that because i know there's people out there who struggle to make money but for me creating a business that makes that level of income makes sense it's part of my skill set it's something that i can do there's obviously no guarantee that the business will succeed but it's like okay with with a fairly good confidence rating i could start a business that would achieve this within a certain period of time but it's interesting because like that's achievable for me and that seems easy but making a million dollars a year seems ridiculous like how was how would one even do that and i've got in my mind that in order to make a million dollars a year you have to have this completely unbalanced life so for me i am a cruisy person i like balance in my life i'm happy to work hard um but i don't like it consuming my life it's not the most important thing to me my kids spending time with them being around as a dad um being a good partner is probably the more important things to me than money though in saying that when i had no money it's like you've got to work and you've got to do it and so that took priority but i know in the past that when i've had enough money it's not my priority um but yeah i've just i've got this false assumption in my mind that in order to make good money and be a millionaire you have to work like crazy and i just don't think that's true like i'm just questioning my own false belief systems here that just because like is a lot of money doesn't mean that you have to work really hard you have to work smarter yeah but this comes back to the problems that you're working on and how difficult they are like i remember working in the cafe earning basically minimum wage and it was hard work like it wasn't hard but you know it was work and you were busy and you had to keep going you had to be on top of things like you it was non-stop most of the time you'd get times where you could stop and have a coffee and chill out a bit but most the time you were working and it was like okay this is hard work but you're not applying your mind a lot and you're not solving hard problems and then shift over to the business that i run in the online business and it's like that's hard work but it's a very different type of hard and the problems that i'm trying to solve within the business are harder than the problems within the cafe and i probably don't work as hard in my business as i would have to in the cafe yet it earns more money so i still work hard in it but the type of work you know i work in the van i go park at the beach i do some writing and then i'll do some emails i'll record some videos um i need to think like i get tired from like all of the thinking that i have to do so it's hard in a very different way um but it makes more money and it's like okay i have just realized i've got this belief system holding me back that in order to make that level of money it's actually like i feel like it's unachievable for me like it's just not possible it's not even within the realm of possibilities and a video came up for me on youtube today about one of the guys from shark tank about how he make made his first million dollars and i'm just starting to watch that i haven't watched all of it but i'll link up to it down below if i do publish this video and it's like i know there's that saying that the first million is the hardest and after that it's easy i would say that with the first hundred thousand as well the first hundred thousand is the hardest or the first hundred thousand in business especially is the hardest and then after that it has been easier for me to achieve over a hundred thousand dollars a year through my business so the first hundred thousand was definitely the hardest and it was strenuous and difficult to get to that but once i got to that getting back up to that level even after nearly going bankrupt even after my business dropping significantly building up i now have two mainstreams of income in my business but i'm basically once kind of maintained level and that is good for cash flow but then i'm building one from the ground floor up so at its peak it made around 30 grand a year and then but when i started working on it it was down to probably um 15 to thousand dollars a year so that's where the business was starting and i've been working on that and building that up and within a year i've built that up to probably around fifty thousand dollars per year and in another year i would expect it to be over a hundred thousand so it took me two years to go from you know 10 20 grand to a hundred thousand if all goes to plan and it's like okay that's achievable but then to take that from a hundred thousand to a million like i haven't even thought of it this is the thing right i've been striving away here to spend these two years to grow to a hundred thousand and that's been my goal that's been what i'm striving towards and what i've been doing and what i know is achievable and that's been my focus and so all of the problem solving that i've done have been around okay how can we get to this hundred thousand dollar mark but it's like what if i just change what do i change the goal post what if i just change it from 100 000 to a million it's hard because i really do have belief systems that hold me back to say that's not achievable you can't do that um i have belief systems to hold me back that say you don't actually want to achieve that because in order to be a millionaire you have to sacrifice so much in your life you're not going to be the person that you want to be you know you're going to work too hard you're not going to see your family but no now i'm starting to think like with my business when i grow up to 100 000 it'll be mostly passive income it'll be pseudo financial freedom like so it'll be passive income that'll only last a few years so i'll still have to work to maintain the business so it's not really passive income but definitely flexibility in my schedule which allows me to spend time with my kids and pick them up from school and you know i'll pick them up and take them to my mums this afternoon and we're all having dinner together and so i can do that at a level of a hundred thousand which for people earning a lot less than that might think that a hundred thousand you have to work your ass off in order to get there and for some people that's true but for me i can still get both the lifestyle and that level of income and so why can't that be true for a million and so i was thinking about okay imagine owning one of these houses on the water that is absolutely amazing imagine getting up in the morning um with like my partner and the kids and like we just have this awesome house and we get up in the morning like i love mornings but it's like imagine if we had this amazing house to wake up to in the morning so that i could make coffee in the kitchen overlooking the water as the sun comes in you know crystal can be having a shower and doing her hair which she tends to do when i make coffee and the kids could be watch...