Brief Summary
This video explains how to go from zero to a million dollars a year by understanding the principles of wealth creation. It emphasizes that wealth is accessible through awareness and the development of assets. The key points include:
- Income follows assets, so focus on building valuable assets.
- Assets are created through mindset, skill set, and tool set.
- Mindset involves changing beliefs about wealth and understanding its building blocks.
- Skill set includes discovering value, developing valuable solutions, and delivering value effectively.
- Tool set involves lead generation, creating core product offers, and building a personal brand.
Intro: The Secret to Wealth
The video starts by questioning the common perception of wealth as something elusive, attainable only by a select few. It challenges the idea that wealth requires a secret formula, mystical code, or high IQ. Instead, it posits that wealth is accessible to almost everyone, and the real barrier is the lack of awareness of one's access to existing wealth. The speaker aims to provide principles to help viewers go from $0 to a million dollars a year.
Income Follows Assets
The core message is that "income follows assets," a concept from Daniel Priestley. If you're not happy with your income, evaluate your assets. Some people's only asset is themselves. God is the source of everything, creating from nothing, while humans are the resource, creating from what God has already created. The speaker uses the analogy of the sun and the moon, where the sun (God) is the source of light, and the moon (us) reflects that light. To reflect light properly, one must have reflective properties, be in proximity to the light, and be in a place where the light isn't blocked.
God is the Source, You are the Resource, Asset is the Thing
God is the source, and humans are the resource, creating from existing materials. An asset is something of value produced for others. According to chat GPT, an asset is anything of value or resource that an individual, business, or organization owns or controls, expecting it to provide future economic benefit. People will pay you in direct proportion to the value you deliver to them. Transformation begins with awareness, not just access.
Mindset + Skill Set + Tool Set = Assets
The formula for creating assets is mindset + skill set + tool set. If you lack the assets you desire, it's because you're missing one of these components. This formula mirrors the concept of "be, do, have," where being (identity) influences doing (activity), which leads to having (property). Many people focus on having without developing their identity and activity.
Mindset: Attitudinal Beliefs About Wealth
Mindset is crucial for going from zero to millionaire. To make more money, your attitudinal beliefs about wealth must change. Many people believe wealth is morally wrong, creating an internal conflict that hinders wealth creation. The speaker argues that the least valuable thing you get from working is money; more important are the skills and relationships you develop. Wealth provides options and opportunities to help others. It is recommended to study how poor and rich people think, act, and accumulate. Poor people accumulate televisions, while rich people accumulate books.
Skill Set: Discover Value
The most important skill set is discovering value. Stop trying to be interesting and be more interested. Determine if you're making statements or asking questions. Entrepreneurs need empathy and should care about others. Value comes from:
- Past perceived voids create present pursued values.
- Past perceived violations create present pursued virtues.
- Present perceived virtues create present perceived values.
- Future perceived visions create present pursued values.
The things you've gone through enable you to help others.
Skill Set: Develop and Deliver Value
After discovering value, develop something valuable and deliver that value. Create a transformational solution that helps people get from where they are to where they want to be. The transformation must be:
- Measurable: Clear before and after.
- Desirable: Something they want.
- Believable: You must believe in the transformation and your ability to deliver it.
- Statable: Succinct and easy to understand.
Tool Set: Lead Generation, Core Offer, Personal Brand
Essential business skill sets include lead generation and creating a core product offer. You can also use affiliate marketing. Daniel Priestley and Robin Dunbar's research suggests that people need to spend 7 hours with you, have 11 interactions on 4 different platforms to feel like they know, like, and trust you enough to buy from you. Create enough content for people to wade around in before they meet you.
Tool Set: Content Creation, Audience Attraction, Brand Building
Create content to attract an audience. People will relate to you better than anyone else. Build a personal brand. The number one reason people say yes or no to an offer is based on who brought it to them. Building a personal brand means becoming the person people are willing to say yes to before they know what the offer is.
Tool Set: Offering Your Offers and Math
To make a million dollars, you need to make 50,000 sales of a product that makes you $20 profit. It's easier to make a lot of money in a short period of time than a little money over a long period. If you sell 500 of a $2,000 offer, that's a million dollars. If you don't have an offer, become an affiliate for someone with an offer, build an audience through content, and constantly refer those people. Create at least 10 pieces of content that just serve people for every one promotion you do.
