Becoming financially free is nothing more than a mindset.
The world is drowning in money. Governments are literally printing money out of thin air. You’re not stupid if you struggle financially.
Attracting money into your life comes down to how you think.
I spent my 20s always trying to get more money. I attempted to ensure I was the fat cat in every transaction and took home all the money. Someone had to lose money for me to gain money. This is what I call (now) a loser’s mindset — and I used to earn a living every day by being that loser.
It’s a way of thinking we’re taught. Our grandparents escaped The Great Depression. They carried a scarcity mindset into various generations by accident. It’s time to undo the damage of a scarcity mindset, and upgrade your life with a mindset that will make you an eventual millionaire.
Here’s how I upgraded my mindset and earned more than $300K (leading me towards becoming an eventual millionaire) from writing when the odds were completely stacked against me.
It’s okay to be the loser first
I traded in my almost-millionaire lifestyle as an entrepreneur to be a call center worker on minimum wage. People literally thought I’d lost my mind and was going to do something stupid.
I wouldn’t trade the experience for anything. My former rich friends called me a “loser” behind my back. I gave up the BMW and got used to catching the train. They thought I was stupid, but I think I just decided to make things simple. Life had become far too complicated and so I’d lost perspective of what matters. I walked to my new 11 AM to 9 PM job with a smile. Why?
I dreamt of a comeback that would surprise my critics. Sure enough, the comeback was bigger than I expected. But it took many more years than I expected it to take, as is the case with any bold plan.
You can restart your life from the lowest social and economic status in society and still do incredibly well.
There is a reason underdogs surprise people. Hunger is infectious.
A hungry stomach will take you far
As a kid I learned what it was like to lose the family home. I came home one day from school and my mother told me we couldn’t afford pizza anymore. Pretty soon the house was gone. I didn’t cope with it too well. I still have a fear of losing my home again.
But that moment of not being able to afford pizza and feeling hungry drove me. When everybody at school was half-assed about their hobbies, I was on a different planet. I learned how to play the drums in grade four, and decided to get school tutoring and private tutoring. I got rejected endless times from the school orchestra. They told me I was too Rock N Roll.
This rejection led me to practice harder than any other drummer. By the start of high school my drumming skills were freakish. People would watch me play drums at lunchtime and assume I’d join ACDC after graduation. Then I got to the end of school and decided to study sound engineering. The place I wanted to study at rejected me.
They said I had no chance of becoming a sound engineer. I came back a few weeks later and convinced one of the teachers to take me into the class. I was 16. You had to be 18 to enter. Nobody ever asked how old I was so I never told them. They worked it out later but it was too late. You snooze, you lose — when it comes to ID checks.
I don’t think I would have reached any of my creative dreams if I hadn’t lost my family home.
Losing everything is the start of something special.
The one-sale self-fulfilling prophecy
I launched my online course recently. Instead of expecting to become an overnight millionaire I became obsessed with getting one sale. “All I want is one sale,” I’d tell my girlfriend.
One sale means someone gets it. And if you give them tremendous value they might come back for more. You could sell a $99 course to one person. They could come back and buy your second course for another $99. Then they could pay you $100 an hour to coach them.
You could then consult to their future business and earn more money. They could love your work so much that they then refer you to two more customers. You then repeat the entire process and you get two more referrals. Your financial destiny with this kind of mindset becomes a self-fulfilling prophecy.
Why do you need lots of sales to become an eventual millionaire?
When you understand the compounding power of one sale everything changes.
Get hired the unconventional way
Most people try to get hired the traditional way by asking for money before any result is achieved, or any value is created.
Let me break up your Sunday Morning avocado on toast breakfast fantasy for a minute. If you show people value before you ever ask them for money, then you can make at least 3X more.
A dude tried to sell me a WordPress website recently. They wanted like $10,000 to build it. I felt sick after hearing the quote.
Spending $10,000 on somebody you have just met sounds like a huge risk. And if the value isn’t delivered then the person who paid the money in the transaction stands to lose a lot.
This is an odd way of turning your skills into money that will make you an eventual millionaire.
Let me shatter this mindset that should have died with the dinosaurs. There are two ways to get relentless commitment from someone who can pay you a lot of money to do work.
- Do a revenue share. If you deliver what you say then you get to share in the upside. You can also be smart here and negotiate a lower tier that gives you less money if you don’t quite deliver but still add value.
- Start with free. There is a reason why people give away free eBooks, free courses, and free webinars. It’s because people have to see and feel the value before they will commit to parting with their hard-earned money. The best part about giving everything you have away for free is that if you don’t earn a single dollar you still learn. Learning is often more valuable. Learning leads to real skills you can monetize.
An online course can be a job interview
You attend an online course taught by a person you admire. Did you ever think this process could be a job interview? A buddy of mine, Stephen Moore, attended an online course and ended up getting a job out of it.
The course creator, Tom Kuegler, was so impressed by him that he got a paid gig out of it. People, who you think are ahead of the game you want to be #1 at, need help. They are crazy busy and always looking for rare individuals.
Attend an online course by someone you admire and see if you can’t find a way to help them.
Doing someone’s online course gives you skin in the game; it’s much better than a cold email anyone can send for free.
Spending money on someone’s product puts you at the front of the queue of opportunities they can create for you.
Don’t put all your golden eggs in a bear trap
Your golden eggs are a reflection of the value you’ve created and stored. It could be real estate, gold, stocks, bonds, digital currencies, etc.
The mindset that kills potential millionaires is putting all your golden eggs in the equivalent of a bear trap. It’s a bear trap that can kill your financial future because it’s generally high risk (gambling, betting, speculating on stocks) and involves putting all the value you create in one or two places.
Placing money in only one place is a fast way to wreck city.
Eventual millionaires never put all their money into one thing. That would be risky and stupid.
You are what’s stopping you
Eventual millionaires don’t blame others for their failures. They are responsible for their actions and learn from them. They understand that they are their biggest obstacle — which is great news because that means they have all the control to change the situation without ten years of therapy.
I was stopping myself from being a millionaire for years. Even when I got close, I pissed it all away because my mind was broken, and my attitude was destructive.
Get out of your own way. Quit blaming and complaining your way into poverty that creates a mountain of debt and takes a lifetime to pay off.
Debt doesn’t buy happiness
You get into debt to buy fancy cars, watches, expensive tech and nice clothes to make yourself happy. The mindset that stops you from wasting your money on material possessions that create debt (and stress) is to understand and tell yourself daily that you can’t buy happiness.
A Ferrari feels good for a month. After that it feels like a Toyota Camry.
Do work that fulfills you, rather than work you hate which leads you to accumulate debt to suppress your unhappy feelings.
Outsource what you’re terrible at
I am terrible at spreadsheets. I do accounting worse than a five-year-old who hasn’t studied math yet. I manage websites worse than Venezuela managed their country’s money.
My problem was for years I stayed broke because I tried to do everything. Only now am I starting to outsource stuff, to buy back time, to do things I enjoy and that add value to people’s lives.
What you don’t outsource ends up controlling you. It robs you of your precious time.
If you hate it, outsource it.
Your time and energy are too precious to settle for anything else.
Momentum starts small
Worship the small stuff.
Seeking grandiose results from day one makes you poor. Millionaires don’t get that way overnight. They work their way up to it and you can too. Your first sale is awesome. Ten followers is an incredible start. One yes is un-freakin’-believable. See how it feels to think and start small?
Forward isn’t a straight line
There isn’t a ten-step plan to financial freedom. You don’t follow a simple path and end up rolling in a bathtub full of one-hundred-dollar bills.
You will gain progress, get slapped back to where you started, and endure this several times. I like to think of it as five steps forward and three steps back.
Expect to go backwards or to be hurtled into a new direction, so when it happens, you’re not surprised and won’t stop moving forward.
Value creation is simple not complex
You create value and that gets paid to you in the form of money. Here’s the tiny shift in mindset that helped me:
“You know about something I don’t. Show me. Show us.”
This way of thinking will make the process so much easier. When people think of the path to becoming financially free they feel sick from the complexity. Complexity sucks. Make becoming an eventual millionaire easier to understand, so you’ll have the power to follow through.
Money is a giant illusion
Money has value because humans give it value.
If one day everybody decides the US dollar is worthless then everybody will throw it in the trash and not think twice about it.
Once you can add value to people’s lives you can transform that value into any currency or store of value. Try not to get hung up on the traditional ideas of storing the value you create. Thanks to money printing, currency is becoming more of an illusion that’s on its way to being a bad nightmare.
Get a financial education
Eventual millionaires understand how money works. They take the concept of compounding and us it to become financially free.
If you don’t understand how money works then hidden taxes like inflation and giant asset bubbles in real estate (like 2008) will take away what you’ve worked hard for.
Become radically self-aware
In the movie “Transcendence,” Johnny Depp plays a character that dies from a bullet laced with radiation. His wife uploads his consciousness into a quantum computer. Johnny Boy becomes a form of AI. He transcends his human mind and becomes something far more. The famous idea from the movie is this:
Self-awareness is the difference between an AI Bot and a human.
The same is true for your mindset. If you’re self-aware then you’ll spot your defects before they ruin your financial future. If you’re not, you’ll accidentally burn your financial dreams to the ground because you’ll live in a bubble fuelled by delusion.
You lie to yourself more than anybody else
That’s why mentors, feedback, coaches, and masterminds are incredibly undervalued. You need these.
You need outside sources telling you you’re an idiot when you’re an idiot. I need a daily reminder. Thankfully, my girlfriend keeps me honest.
Digital products are assets that keep putting money in your pocket — eBooks, royalties, courses, Zoom coaching. An overpriced luxury car is an out of control drunk that is sucking value from your blood.
- An asset holds value, or even increases in value over time.
- Junk loses value. It’s mostly for show.
Pick option one and you’ll become an eventual millionaire without trying too hard.
Your mind is what screws up your financial future
The ways to make money are obvious. The internet is littered with folks on laptops who tell you how to make money online. You’ve heard all of these ways:
- Teach an online course
- Write an eBook
- Start a blog and sell ads on it
- Write on a blogging platform that pays you
- Build an audience and then sell them digital products
- Start an eCommerce site
- Create a paid newsletter and sell it
- Film Youtube videos and make money from ads
- Sell services — virtual assistants, podcast creation, research assistance, ghostwriting, social media management, website building
You already know how to make money. You’re not stupid.
What screws us up from becoming eventual millionaires is how we choose to think. Society fuelled by social media teaches you to follow the crowd.
“Everyone’s complaining and being outraged so I should to,” is the accidental thinking. But what if you stopped giving a damn? What if you spent time thinking about what you can do, and not what society wants you to focus on?
The making money part is easy.
Getting past your mind’s defenses is the hard part.
Free your mind by working on how you think. Change your thinking and everything becomes possible — including becoming an eventual millionaire.
This article first appeared on Medium.
This article is for informational purposes only, it should not be considered Financial or Legal Advice. Consult a financial professional before making any major financial decisions.
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