One of the common things I see
when I sit down and do bussiness plan with somebody
and they want me to look through it, I’ll notice.
I wanna become a millionaire,
and I wanna become a millionaire by this age.
I say “great”.
And nowadays if you pretty much wanna write a book
and have the book do well,
write a book and have the title millionaire in it, it’s probably gonna do well.
This is an ONE MINUTE MILLIONAIRE.
THE SELF MADE BILLIONAIRE OF FACT.
A THINKER LIKE A BILLIONAIRE TRUMP.
We’ll see if you could be a president or not.
SECRETS OF THE MILLIONAIRE MIND.
SECRET MILLIONAIRE CLUB.
I mean I have so many I can go through.
There are so many books on how to become a millionaire.
Everybody wants to become a millionaire.
I think a lot of times.
Em… Just like a sport, think about a sport.
We admire Michael Jordan.
We admire LeBron James.
可如果你没有1米9 体重120公斤 跳不到1米
But if you are not 6’8″, 260, you cannot jump 40 inches.
You are not gonna be LeBron James.
Ok, so that’s not the most duplicatable story
to try to be inspired by.
We can respect them, we can admire them.
But it’s not something we can be, and that can be intimidating sometime.
So a lot of your guys may,
You know…I’ll see people like myself even back in the days.
You will see somebody like Elon Mask.
You will see somebody like Mark Zuckerberg.
I can never be like Zuckerberg.
I can never think like Elon Mask.
Well, they are anomaly.
What I’m talking about is something you can be.
Stephen Curry is only 6 feet tall,
couple inches, 170 pounds.
He doesn’t do 360 dunks,
but he practise. The formula I wanna cover
is more a duplicatable way of becoming a
Stephen Curry or Sam Walton, CEO of Walmart.
Or something that’s duplicatable.
That’s what I wanna cover with you here today.
OK, so let’s get through it.
What it really takes to become a millionaire?
我称之为”2 5 10 20 30 40原则”
I call it the “2 5 10 20 30 40 Rule”.
Let me explain.
This is your timeline. You got to know your timeline.
The one thing about becoming an entrepreneur
know that the first 2 years is “Survival” mode.
If anything that can go wrong, it’s probably gonna go wrong
in the first 2 years of being in a business.
You’re gonna experience all of it.
And you need to experience all of it.
That’s the first 2 years in business.
Within 5 years if you follow the formula that I talk about,
you have a shot at getting to quarter-million to half-a-million-dollar your income
within 5 years.
Within 10 years, you ought be at million-dollar your income,
if you cover the formula I’m talking about,
You’ll be at million-dollar your income.
Then 20 years is ten million,
30 years a hundred million,
40 years a billion.
But the formula is a formula that’s duplicatable to everybody.
So let’s start off with the formula.
You need 4 elements to be in your favor.
Sometimes I hear a lot of people,
when you do an interview with a millionaire or billionaire,
interview with Mark Cuban.
He talks about how hard he works,
Monday through Friday and Saturday and Sunday.
He’s going through this, he’s going through that. Hey,
what does it take to become wealthy?
And you hear a lot of people say you gotta work hard.
Well, what does that really mean to gotta work hard?
Because sometimes I visit entrepreneurs’ offices,
and they are at the office purely on Facebook all day long.
But they are at their offices for 12 hours.
That’s not working hard.
That’s just being at the office.
I am talking pure work,
meaning if you are a sales, you either answer the phones,
you either interfere door-knocking or meeting with people,
or you have people sitting in front you,
you are at a kitchen table selling something.
But you’re constantly playing offense. It’s not a lark time.
So let’s talk about “Work Ethic”.
You got 3 levels.
Level No.1 is a part timer.
You work 40 hours a week, as an entrepreneur,
to me you’re a part timer.
I know in the full time world, in the job world,
if you work 9 to 5, your’re full timer.
But as an entrepreneur, 40 hours a week,
you’re not given yourself a chance to make it.
Level No.2 to me is a full timer.
Full timer as an entrepreneur,
is somebody that works 60 hours a week.
That to me is a full timer.
Now level 3, I called it all the timer.
All the timer is 80 hours a week.
And I know a lot of times,
people may even turn off the video right now.
因为你会想 80小时 他疯了吗
Cause you maybe think, “80! Is he out of his mind?”
“Is he crazy?” “He must be nuts.”
This isn’t a video for everybody to watch.
This is if you want to know what it takes to become a millionaire and deca-millionaire.
You know those days just coming out with snap chat and Instagram,
and you become a billionaire overnight.
They also anomalies.
That’s not duplicatable.
If you only strive for that,
you may be another person that 60 years trying to get something
to come out be sold for couple of billion dollars.
This is a duplicatable system that I’m talking about.
Now on the work ethic side.
Let me explain on the work ethic side.
I have people that will say,
“I worked 80 hours last week!”
“You have no idea how hard I worked last week!”
But how hard did you work the week prior to that?
And the 3 months prior to that?
And the 6 months prior to that?
And the following week, when you have a birthday party coming up.
And next week when there’s Super Bowl.
And next week when there’s this,
how hard are you going to work?
Every week, this is not 1 week.
Everyone has 1 week to brag about.
This is every single week.
You may have a week you don’t feel like working.
And all the timer still shows up.
But part timer only shows up when they feel like it.
And all the timer whether you feel like it or not,
they show up.
Now second element is personal growth speed.
Let me explain personal growth speed.
If you only working working working working working,
and you’re going to lap the whole rap race.
You just working working working working working,
and your identity isn’t growing, nothing changes.
There isn’t an ability to scale your income to get to millionaire.
If you’re working, figure it out.
工作 思考 工作 思考
Working, figure it out. Working, figure it out.
解决问题 学到知识 进而成长
Solving, learning, growing.
Then you will constantly go to new heights.
So here is how it works.
Level 1, if you average 24 books a year,
2 books a month, that you’re feeding your mind.
That is a part timer.
If you average 4 books a month,
that’s a full timer.
Every CEO reads 56 books per year.
If you read, an all the timer if you read 8 books a month,
A hundred a year to me, you are an all the timer.
You are constantly feeding your mind.
I am not talking about, you know the fantasy books.
I am talking real business books that’s growing your mind
on solving problems and issues and learning from this guy,
and how that person did this, and how that person did this.
You’re learning, you’re growing.
It’s helping you figure things out.
That’s an all the timer.
目前为止我们说了 工作道德 和 个人成长速度
So so far we covered work ethic, and we cover personal growth speed.
is how many “Starts/Stops” you have as you running your business.
You rarely hear us talking about this.
Listen, I am by far not the smartest guy.
I am not the most talented guy.
I don’t come from a family of wealth.
My farher was a cashier at a 99 Cents Store in Englewood.
1.8GPA kid. I went to the army.
I took an ASPECT. I got an 31 on my ASPECT.
This is not a product that I’m supposed to do
whatever I’m supposed to do.
Be running a, you know, whatever
multi multi million dollar company and do what would…
I’m not supposed to be where I am right now.
I’m supposed to be a statistic.
That’s what I am supposed to be doing.
But I watched a lot of my competitors
who were sharper than me,
比我学历高 比我富裕 有更好的行情 更好的教育
degrees, better family, better market, better upbringing.
They know how to play golf very well from a young age,
so they can go a network with other people
and their scores was very good.
Just pure form great all that stuff.
But they had challenge that no one sees.
You don’t see it, you don’t visualize.
This is something nobody ever sees.
And it’s Starts/Stops.
Let me explain what this is.
A part timer typically,
typically has 2 to 4 distractions per year. setbacks per year.
Let me explain what this means. This may sound a little cold.
一些人可能会说 帕特 这绝对很无情
And some people may say, “Well, Pat, that’s absolutely cold,
you can’t think like that.”
A part timer has 2 to 4 distractions per year.
It could be…
It could be a bankruptcy sets back for 2 months.
It could be a break up.
To recover from a break up takes some 6 months.
It could be,
a loss of a love, when the relationship didn’t work out.
Something that happens to them.
They are devastated for way too long.
That’s a part timer. 2 to 4 setbacks per year.
Full timer to me is 1 distraction per year.
So they will have business and everything go right down booms.
Something happens they are gone for 6 weeks.
Now they have to go and start the momentum all over again.
Beacuse they don’t know how to handle the distractions.
They’re not good at managing distractions very well.
They give too much attention to distractions.
And they have way too many setbacks.
They are not able to experience the whole thing.
No.3 is all the timer.
All the timer to me, is somebody that
experiences 1 major setback every 5 to 10 years.
No one is perfect.
Everyone is gonna experience some setbacks.
离婚 健康 家庭
Divorce, health, famliy.
Things are gonna happen.
It … for someone it may be divorce.
For someone may be something else.
For some it may be a financial thing.
For someone may be a family thing.
Everyone’s gonna have it.
How you react to it will dictate
your odds are being able to become a millionaire, deca-millionaire.
Whatever that goal is for you to become, right?
So that’s how many Starts/Stops you have.
Now No.4 to me is number of industries.
A part timer changes industries
as quickly as an 18-year-old changes his boyfriend and girlfriend.
It’s just a new industry, again.
A new industry, again. A new industry, again.
So we’re talking about a part timer changes new industry
every 2 to 4 years.
Realize they didn’t work, I’m gonna go do this.
This didn’t work, I’m gonna go do that.
That didn’t work, I’m gonna do this.
A fully timer changes industries every 5 to 10 years.
Ah, this is too boring to me, I’m gonna go to another industry.
And then I will stay focused for 10 years.
They will get to a certain level and then boom they go again.
And they never ever really fully understand
what their capacity is if they stick around.
The all the timer, 20 to 40 years, one industry.
Let me explain. Jeff Bezos is one industry, OK?
Um, Berkshire Hathaway? They went into one industry.
Those guys started with an all-the-timer mentality.
Their company is right now Berkshire Hathaway worths about 326 billion dollars.
Their annual shareholder meeting’s happening on April 30th.
40 to 50 thousand people show up.
And I think it’s, ehh, Omaha somewhere.
It’s..It’s the most ridiculous center everybody sits.
Go look up the picture on what they looks like.
They show up, and they never gonna to technology.
They stuck to their philosophy, they stuck to insurance.
Everybody call them boring, everybody call them all this types of stuff.
Charlie Munger worths a billion to 2 billion dollars.
Warren Buffett worths 40 to 70 billion dollars,
depending on what date and what time that you really watch this video.
Why? One industry they stuck to it.
It doesn’t matter what industry.
Now, some people would also say,
“Well, I feel like I have to start a company
to have a shot to become a millionaire. I have to.”
You have to be an entrepreneur.
You have to be entrepreneur, that is definitely. You have to be entrepreneur.
But an entrepreneur may also be somebody that gets what company and
increases value of themselves.
And eventually they become
主管 副董事 董事 首席执行官
an executive, a vice, a president, a CEO.
Whoever it is, I mean, Steve Ballmer great example.
Microsoft gets started in 76′.
He gets started with Microsoft in 1980.
He increases value by what he brings to the table with Bill Gates at Microsoft.
Eventually, he’s worth 22 billion dollars, owns the Clippers.
He had a blast. He ends up becoming a CEO after Bill Gates.
And he was not the founder of Microsoft.
But he was somebody that positioned himself well, worked very hard.
He was an all the timer.
He was a valued guy, chose one industry.
He read the books to find that he was a great student.
He didn’t have a lot of distractions. He kept and showed up to work.
You know, that’s what ends up happen toform to become who he is today.
So now, what conditions what intangibles need to be on your side?
I wrote all the stuff on this here. Someone may say,
“Well, what if you do all this and it still go wrong?”
Yeah, of course it could. Let me explain what things.
If it’s only a want for you to become a millionaire,
it’s not a must.
Kiss and goodbye. It ain’t gonna happen.
Nobody becomes a millionaireby want to become a millionaire.
Everybody wants to become a millionaire.
To feel it’s a must.
If it’s a must, you will do it.
Next. Focus, an intangible.
How focused do you stay?
Ambition desire can not be taught.
No video on the world is gonna give you ambition and desire.
The only thing that’s gonna give you ambition and desire is you.
你这里 就在这里 你有吗？
Your here. Right here. Right here. Do you have it?
Do you truly want this to become a reality?
Your position yourself in a company
that you can eventually own a piece of it.
Are you in a place that can increase value,
own a piece of the company?
Marriage. Who you pick as a partner is very important.
How you pick that?
It may not work out the first time, second time,
but you gotta be good on how you pick them.
It’s gonna be clear on how you do that.
This is gonna play a very big role.
Do you have a chip on your shoulder?
You know, if you grow up in a perfect family, everything was good and…
And you don’t have to pursue, you know…
prove anybody else, you’re just OK.
You have a great life, you know.
“How do I have any problems grow up?”
“There is no chip. I don’t have a chip.”
So what’s the purpose of doing this?
You may not have a chip to wanna do it.
It may not be that important.
乔丹有 贝佐斯有 乔布斯也有
Jordan had a chip. Bezos had a chip. Steve Jobs had a chip.
These guys have a chip. There’s a chip on your shoulder.
Enemy. Who is your enemy?
Who are you trying to compete against?
Is this somebody wanna prove right or prove wrong?
Maybe your mom or dad sacrifice so much,
you wanna prove right that the decision they made was right.
Maybe mom and dad don’t believe in you.
Maybe your relative doesn’t believe in you,
Maybe an ex-wife, ex-husband,
ex-boyfriend, ex-girlfriend doesn’t believe in you.
Do you have to prove to somebody?
Maybe you yourself,
the man in the mirror, the woman in the mirror,
you gotta prove that person right or wrong.
Are you gonna do that? Is that important?
Risk is a big part of it.
Value, do you increase your value wherever you’re working at?
Your decision making process,
this is gotta be one of the best.
Friends, association. Do you constantly revert back
to friends and association that teach you a bad habit
that gets you to work backwards? Are you pretty focused?
You constantly revert back to bad habits. Do you do that?
Luck and timing, that’s also part of it.
定位 时机 也是其中一部分
Positioning, timing is also part of it.
但是 实际一点 我告诉你的所有东西
But, look, in reality of it, everything I covered with you.
Somebody may watch it and say, “80 hours a week?
I’m already tired watching this video.”
This video may not have a lot of views.
Because somebody may watch this video, say
“我没有80个小时 我认输了 不想再看了”
“I don’t have 80 hours. I lost. I don’t wanna watch it anymore.”
That’s totally fine.
But if you are still watching it and you are saying,
“Man, I wanna be an all the timer.”
You gotta be a little bit crazy.
You gotta be a little bit of maniac.
Some people are gonna call you a lot of different things.
And you gonna be OK with it.
So my challenge to you would be this:
Success to me is not a part-time think.
It’s not a full-time think.
It is an all the time think.
In any, in any industry.
运动 经管 创业 都无所谓
Athlete, business, entrepreneurship, doesn’t matter.
You gotta be an all the timer.
If you are not an all the timer, you maybe become a fan.
There’s a lot of people that are fans of, uh, Elon Musk.
There’s lot of fans of Steve Jobs.
There’s a lot of fans of Jeff Bezos.
There’s a lot of fans of Stephen Curry.
There’s a lot of fans.
You can become a fan, or you can become a player.
But you can’t do both part timer or full timer.
You got to be all the timer.
It’s my message. If you got any questions about this,
comment on the bottom. Take care.