Season #2 of the 52 Millionaire Wealth Principles – #5 Build a Business

In this Season 2 of the millionaire wealth principle 5, I talk about building a business. Wealth principle #5 comes from a simple principle which states that there only three ways to become rich which are 1) – Through Stocks 2) – Through Real Estate 3) – Through Business. There is no other way to build wealth without those 3 assets. When I say stocks, they are in reference to any digital or paper assets, and here is the deal with those, you buy them, they either go up or down, you have no say, no control. Then you have real estate that is a physical asset, you have some say in it but you can’t control the market and you have a physical tangible asset that is across all the planet. It has some strengths and some weaknesses. We finally have a business that covers all other forms of money including self-employment. Your business has to start with one reason, one purpose, it is there to solve a problem. The business is designed to solve your problems, you’re the first person whose problems it solves.

For the previous Millionaire Wealth Principle #4 Season #2 of 52 Millionaire Wealth Principles #4 | Put All Your Eggs in One Basket and Guard That Basket?

An Exercise To Keep Your Brain Hooked And Yourself Accountable

Let’s do an exercise. I want you to write down the problems you want to be solved by your business because if your business can’t solve your problem, there is no point in going and serving someone else’s. I know this is counterintuitive to a lot of our coaches and speakers. I know a business has to solve other people’s problems which is the only viability of a business but it doesn’t solve your’s, then you’re not going to stand. You’re not going to do long enough, you’re not going to stand, you’re not going to have that motivation, you are not going to stay in that business. If the business is new, if the business is different from what you have been doing, it might not be the right choice and the same rule applies for investments.

Try new things in what you’re good at that works and you only get a few times to do this in your life. The reason I teach and train because the easiest way to build a millionaire is to have somebody learn the process. If you’re going to build a business now in 2021, you don’t want to build a business that costs money but to build a business that makes money. Strongly evaluate any business that you’re building and look at it and find out if it is based on hourly or based on commission. If it is hourly, you don’t need to add that to your business, unless you’re in a situation where you already have a massive client base. If a business can’t scale then you have a job, not a business. A business pays better as real estate is storage of wealth, goes up, protects you against inflation, protects you against the dollar.

Does Your Business Fit In Your Long Term Goals?

Whatever your business is 10 years from now, does it fit my long term goals? Could it fit what you’re looking to create and turn it into 10 years? How does it serve the government and how does it serve me? Does this lead to where I want to be 10 years from now? You can scrutinize any business you have but I strongly suggest that you pick just one that is running that huge flow and probably outsource the other ones. Lastly is who is my avatar, who can I serve with this business, where are they because you must change location or even the marketing strategy or the branding or how to serve them.

Mike Schein Reviews The Book Of The Week

Rich Dad Poor Dad

Mike Schein talks about the book of the week which is Rich Dad, Poor Dad by Robert Kiyosaki and he tells us about his personal experience with the book where he learned the difference between an asset and a liability, he also learned that you need to have a business, not a job where you’re stuck all the time and within 18 months, Mike changed from having no property except his house to having five properties cash flowing. If you haven’t read it, then you should and It is required to be in the Alchemist Community and if you have read it before, please go read it again.

Another Exercise To Keep You Accountable

This is the last exercise you should do this week is that you must sure that the company you’re building is worth being part of, make sure that it is something worth reflecting on like in 10 years. It is okay not to be that big today because I even don’t own a billion dollars worth of real estate today but I know it is possible. So move towards it with a plan, with a vision, and it’s okay to take some time to think about your business in the next 10 years and be like what am I building in the next 10 years, what am I capable of in the next 10 years. If you can’t figure it out, just take what you have today and double it for the next 10 years, take whatever you think is possible in the next 12 months, 90 days, 365 days, just take whatever you think, it is possible for you in 2021 and then doubles that 10 times. That’s what I did to get to millionaire status at 32 years of age.

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