The Secrets to Becoming a Millionaire

I've known you long enough over a decade now probably a decade yeah getting close yeah actually over yeah over a decade now where I know you were stubborn and pigheaded and that is the absolute superpower one needs to become a millionaire a multi-millionaire a billionaire [Music] hey everyone let's go back in time for this episode of the Empire podcast bader us think back to when you were a bouncer at the gay bar or when you worked at Disneyland imagine I said to you hey would you like to make a hundred and fourteen dollars an hour Wow I would say yes yeah okay so how much money do you think you would make in a year for me one hundred fourteen dollars an hour I'm guessing by the title of this video it's probably going to be a million dollars a year it is not okay so here's a little little math little little matchstick for you so if somebody came to you and said I make $20 an hour yeah you can immediately double it in times of by a thousand to get their annual salary okay because they work about 40 hours a week 50 hours there's 50 weeks in a year it's 2,000 hours so I asked this question recently in my master mind I said do you think you'd be a millionaire if you were making a hundred and fourteen dollars an hour and 114 dollars an hour to me when you know a lot of money 22 years old is a lot of money you'd only make two hundred twenty-eight thousand dollars an hour but the reason why I ask you about one hundred fourteen dollars because if you worked every single hour of the year you would make a million dollars at one hundred fourteen dollars an hour Wow not every single working hour not every single waking hour but every single one of the eight thousand six hundred and fifty hours that there are in a year well the lesson here is that's how hard it is to trade time for money in order to become a millionaire that's powerful yeah I mean that is millionaire math and that's what we want to talk about on this show about this episode of the Empire podcast is millionaire math that is powerful so did you ever get into business with the idea of becoming a millionaire I mean I don't think it was the the reason I got into business I mean I technically was unemployable is and I wanted to be my own boss and that sort of thing and I want to make a bunch of money I probably want to make more than a million dollars I don't think it was just set on on one why is that what we've got well no because when I think back that's exactly it I was unemployable I didn't want to have a boss I wanted to make my own schedule and I thought I could do things better in solving a particular problem yeah which is why I became an entrepreneur and I think one place to start you know as far as becoming how to become a millionaire is maybe put the focus on solving problems and serving people and then you'll get to the millions yeah now so I want you to tell me when you became a millionaire and I'll tell you because I think there's gonna be one thing in common so when did you become a millionaire so I well how do we define a millionaire as as having made a million dollars in a year or having million dollars having a billion dollar net worth oh man not that long ago probably seven years eight years no probably nine years ago okay yeah yeah because between the house that we own yeah and maybe my income assets I'd say I was probably at a million okay I remember I remember when it happened me was probably around that time - yeah it was because I sold one of my side businesses and that's for most people selling something big is going to be how they get to become millionaire like you know selling a one of their businesses is you know they might just be making a hundred grand hundred grand two hundred grand a year and it's when they sell something that catapults them up now there's a whole bunch of ways for somebody to make a million dollars in revenue though and you know there's you know we can talk about you know selling five thousand products at two hundred dollars or fifty thousand at you know twenty dollars or whatever it is a recurring revenue all the stuff that you had for fit Pro newsletter you know there's a lot of ways to make that million dollars in revenue so what are some of the ways that like if you were just starting today how would you go out and become a millionaire well you know it's funny knowing what I know now I would rather sell to less people for higher dollar amounts which is what we do with our Fit Body Boot Camp franchise right in our Empire muscle and our Empire mastermind so actually both things are $50,000 yep right to get in on it because it's easier to get to the million dollars if you have less people and they're each giving you more chunks of money yeah and it's easier to service less people and requires less employees less time from you as well so if I had it my way I would do that math all day long and offer high-level coaching programs yep sell franchises like I do now on the flip side there's also what our friend Randy Garn does who owns a Skippy o texting software sure by the way he was a great episode on this on the Empire Show as well so definitely look up Randy Goran he's one of our first outside interviews where it was you know you and I were doing all the shows yeah and because of travel like you started interviewing yeah our builders exactly is one of the first guys that's exactly right and you know he's got software where he charges people $99 a month yep but he's got something like over 8,500 people yeah on board with Skippy oh yeah so that's a multiple seven-figure generating product right yeah I mean when you look at all the ways that you can actually make seven figures in revenue it's nuts yeah it's crazy product launches like Joel Merion you know he went from not selling a single thing online to selling $300,000 worth of product in three days for a product launch yeah and then eventually having the first million dollar-plus ebook launch in the fitness space and so you know there's a whole bunch of ways to do it but there's a lot of commonalities and I think that's kind of what we really need to focus on and then one that you've already kind of hit on is solve big problems we've talked about this on many many episodes and for the people out there like what does that mean what solve a big problem there's always bigger problems good question so I'm gonna I'm gonna give you this example so my father-in-law yeah as a Harvard grad MD and in Seattle he owns a medical practice he's a doctor he's got a little office who come and he's her general practitioner yeah as a general practitioner he makes about a hundred and thirty thousand dollars a year take home for himself right cuz you know he's got for an office share employees a nurse etc his take-home is that his friend is a thoracic surgeon his friend went to Harvard as well at the same time but his friend is not a general practitioner he's a specialist thoracic specialist his friends take home is five hundred and twenty thousand dollars a year now my father-in-law they're both great doctors and the friend one is a general Pak near my father-in-law might stitch up a cut that you got or he might be able to diagnose diabetes right solving smaller problems the thoracic surgeon he's working on your heart and lungs solving big problems you solve the bigger problems that are more sophisticated you can command more money now the fact is even though we said hey look you come out the gate I'd come out the gate if I could do it all over again and charge $50,000 a year like we do for the Empire mastermind but pedro's 1.0 back then didn't have the knowledge the credibility the influence to charge that in fact back in 2007 8 9 I was charging $5,000 for a year of phone coaching yeah like now I won't even get on the phone with you unless you're talking about 15 20 grand for like half an hour because an hour is just too long for anyone's time right you know and so sure you want to sell 50 60 $100,000 coaching programs if you can if you can solve those bigger more sophisticated problems however if you don't have the street credibility because you don't have the track record you don't have the 20 people that you can March up on stage or put in front of the audience and go look I've helped all of them become millionaires or all of them find the missus right in their life or whatever you're not gonna be able to charge that kind of money but the bottom line is you got to do the math and then go and reverse so do I want to have one really awesome client who pays me a million dollars a year maybe yeah maybe or do I want to who pay me five hundred thousand or four who pay me a quarter million and as you do the math in Reverse you go okay that I could do whatever then ever what was that you said five thousand people paying how much two hundred two hundred dollars a month yeah like everyone goes once once times five thousand there you go no no find a product that you can sell for $200 everyone watching this does not need a height like ten years of credibility expert status influence to be able to sell a thing one time for $200 yeah figure out what's all what problem you're good at solving and sell that thing for $200 to 5,000 people in the next 12 months and watch what it feels like to have generated a million dollars yeah so one of our Empire mastermind guys Robbie Blanchard and former mastermind from our info business no you know he went and he had to go and build a valuable skill he learned Facebook Ads so he was doing the little stuff and now he's become so good he charges fifty five hundred dollars a month to do your Facebook ad plus he's also the number one affiliate on Clickbank that solved a huge problem for so many people because they couldn't sell their products enough and he came along as a great Facebook Ads buyer and bought all the traffic and sold more of people's products and solving a huge huge problem so that's another way to generate millions and millions of dollars now there's more to it than just having the skills there's some mindset yeah so let's talk about some of the some of the things that you'll need to have in your head in order to be a millionaire I'll say this about you I've known you long enough over a decade now probably a decade yeah getting close yeah actually over yeah over a decade now where I know you were stubborn and pigheaded and that is the absolute superpower one needs to become a millionaire a multimillionaire a billionaire because you have to be able to look at a problem try and solve it have it fail and forget who it was so you come back to the same problem with enthusiasm anyway like oh yeah Churchill okay Winston Churchill said you know success is going from problem oh yeah you know failure to failure to failure without a lot of loss of enthusiasm and we lock on like you're so pigheaded I'm so stubborn that we lock on to what the thing is and we go hell or high water I'm gonna finish it and that is a mindset trait that is not a marketing tactic that is on a sales strategy that is not a widget to sell on Amazon that is this thing in your head that says the more people tell me I can't do it and the more I fail the more I believe I will do it yeah where that comes from some people it's factory-installed I've seen humans born like that like my daughter that's factory-installed the mindset my son not so much but guess what we work with him and he's got that warrior mindset he will put his mind to something and do it yeah I'm like my son I had failure in my DNA because I was raised in that environment that was conditioning that's all you know some people go well is that nature or nurture sure maybe nature makes you into a badass mindset motivated warrior but then maybe nurture makes you a little weaker and prone to failure until someone start training you and teaching you to mental fortitude but I'm telling you being pigheaded and stubborn has been a big blessing in my life and I've seen you thrive because of that any others yeah absolutely so tom bill you who spoke at one of our Empire mastermind meetings who will be at the Empire summit if you don't have your tickets go to the Empire summit calm and get it because Tom bill you've been my favorite business speaker I've ever seen and he was telling the stories about how he would wake up in the middle of the night and his hands were cramped because they were kneading the dough when they first got started building the quest bar business and how he was fixing the toilets and doing all of this stuff I mean that guy just went through so much that so many other people would quit on and I get these messages all the time on from on Instagram from people who have been a real estate agent for three months and they're like man I don't know I'm just gonna move on to something else maybe maybe I'm not it's not meant for me yeah three months I didn't know you're still a baby in that in that space yeah so I was recently reading an article about like what great leaders are in great CEOs and it was this thing called hardiness hardiness and there's three C's two hardiness one is that you look at everything as a challenge and then you control your response to it mm-hmm and then you commit to it and that's like the pigheaded stubbornness right you're committed to it you look at everything as a challenge a set of an obstacle or Rob that like I'm just gonna go and say oh you got a problem I'm gonna solve it you know check out the hook while the DJ revolves it you know like I said hi sighs baby right look at this stop collaborate and listen Pedro you're OCD won't let you stop my horse and cragger back with brand new invention you ready the whole rolling right now a one a beachfront Avenue so so you have hardiness you have resilience and then there's something that you've talked about and we'll stop for a second like that was a great example no joke like I saw your weirdness set kick in there where your brain was like I must finish this right even though I'm doing a podcast we're recording we've got three guys sitting back here like I gotta finish this Vanilla Ice song right and it's that level of commitment and pigheadedness and OCD that's required so any of you that think that like being OCD and overly committed and fanat all use the word fanatical a control freak is bad there's a great example of someone right there in front of you who just kind of manufactured it and you couldn't stop yourself right it's like the way that I line up my protein bars oh my god I was very upset yesterday because I'm all lined up and one was upside down anyways resourcefulness when you don't have resources you got to be resourceful in America we say resources resources yeah but the grocery store do guys say grocery store and grocery grocery store okay we say groups we got it's a boot time to go to the grocery store yeah yeah look at us yes to foreigners in America right now it's this very moment yes graduate resourcefulness yes when you don't have resources you get how do you say how do you say resources resources all right yeah anyways I'm gonna go on you had to speak English good yeah yeah no worries but so true that if you don't have the resources you must get resourceful and I'm gonna give you an example I was speaking to Jason capitals event yeah a young man named Mike came up to me afterwards we're like on a little group how tall they want to take some pictures they want to ask me a question and I make sure I hang around and Mike's like he points to Ed because Ed was there with me you in the video yeah yeah he points to ed and he goes you know I want to make a follow along workout video but I need a videographer and he points to ed and then he goes but I also need a web developer to make the website with the password protected but I also need someone to help me buy traffic so that I can actually get the traffic to the website to sell the videos that I'm gonna make and so because I don't have the money to get the videographer and the web developer and the traffic buyer I guess I'm stuck what would you do bad roast and I said hey do you realize that your iPhone is your own personal cameraman like before I was ever having an Ed or primo or Ashe around I would just put up the old flip cam you remember right i phone i put on a tripod and get in front of a marker board the thing look like an al-qaeda demand video like you know there was shadows everywhere you know you thought I was gonna be head someone in that moment that was back when you shaved your head - it made it better yeah yeah yeah yeah I was a thug life and so all this to say that I shared with this guy look your camera your phone becomes the video man the camera guy your how-to videos that you're gonna post up on YouTube Facebook Instagram that becomes your marketing because Facebook Instagram YouTube have an algorithm that will get you the right people to follow you and then of course your website you can just go and hook up PayPal to a wordpress site and make it yourself for free for now I said you see how all the resources are there in front of you and he goes oh yeah I get it like had that aha moment oh good and it was so powerful to see that but so many people just go well I don't have the experts or the information and therefore I must quit how much money do I need to start a business none none zero none I sold my first program on the internet January 28 2001 it was a word document with no pictures in it and I sold it through PayPal lovely like and that's I think it's because I'm super impatient like why would I wait for any of that stuff again so yeah man I just gotta gotta be resourceful and and you're American when you don't have resources and and become successful hey if anyone works for the government and you're watching this or you're listening to this episode is there any way to make Craig a citizen of the United States and revoke his citizenship to Canada that would be the biggest practical joke on the planet where you come into you come into Southern California to film one of these episodes but then you can't leave because now you're an American citizen and they don't want you in Canada they want me in Canada now so so alright so I'm gonna pull that practical joke on so we've got oh you know there's I think there was an interview that you did with Dean grazioso here maybe it's just an article that he did but he had this really great line he said the longer you wait the further behind you are you know godess start now especially in this day and age where's like you got 18 year old kids becoming millionaires because they went and sold that $200 course with you know five thousand times and they're just making money because they're moving faster than people who go to college and they like oh I got to be slow about this and all the red tape and stuff like that you gotta move faster I think that is something like you wasn't built all the gyms when you were younger and sold those and then you just you know you started Fit Body Boot Camp and it was it sure ain't the same Fit Body Boot Camp now years ago you just figure it out as you go like like again you just said you fur sold your first fitness program on a word doc with no pictures through Pay Pal like today you've got some of the most sophisticated websites and videos and password-protected and follow along programs and continuity but could you imagine if you waited dude here's a lesson that we got to share with our audience is that time kills opportunity and enthusiasm yeah when you wait you begin to lose opportunity and you begin to lose momentum enthusiasm for the idea that you had success loves speed delay kills deals I love that I mean think about that when here you're sitting on the couch you see something or you have this idea like oh I got this idea you're most pumped out up about it in that moment every minute that passes that's like the barometer goes lower and lower and lower on the opportunity and enthusiasm and here's an example of that whenever I think of a really good idea for an Instagram video or social media video and I don't make it right away ten minutes later fifty minutes later two hours later it's Thai try and do it and it's terrible like it's got to be done and the mom asked as possible absolutely a hundred percent yeah recently you ranted on guru cons the money-making guru cons on the ground yeah lay it on the Sun alright so so here it is man you want to become a millionaire you want to hire coaches why because you want a time collapse right like you want someone who's been where you are and is where you want to go yeah been there done that you want to achieve the problem today what social media is everyone can hit that little down arrow that says well I'm an entrepreneur or I'm an expert or I'm a public figure but then you look at their following and then you look at their track record there is no track record and their following is like nineteen people and so there's so many false gurus who don't necessarily know how to help you grow a bit let's take your idea to market but they're good at marketing themselves as a guru and an expert so you've got to use caution and do what Ronald Reagan said trust but verify so if Bader and Craig are like hey man you ought to join the Empire mastermind because we got people like Vince del Monte in there we got like Navy SEALs and NFL playing Super Bowl champions like Steve whether Ford yeah right these are like some of the top entrepreneurs of the planet you still want to trust but verify you might want to say look before I pay the $50,000 or fill out the application and pay the $50,000 can I talk to a few of these people yeah can I see what their results and their experience has been with you because they might have a different thing to say right and unfortunately not enough people do that as a young man I fell for that and so now I caution people against the fake gurus because at the end of the day there's only one person who's going to help you become successful that's you yeah an effective coach or mentor can help you time collapse by pointing you in the right direction because they've been there and they know what it feels like yeah I use the phrase you're buying money at a discount yeah when you go to a mentor you're giving them you know 10 grand 50 grand but they're giving you 500 grand back and would you make that trade every day if you gave me a dollar and I gave you 10 all day long you better believe it now there's one last thing that I want to talk about it becoming a millionaire staying a million things like a millionaire is that so many people come to me and they said Craig I don't want a lot of money like they feel guilty about wanting to become a millionaire or thinking about being a millionaire they're like I don't need a lot of money to you know to be happy and to be successful in like you're gonna need way more money they don't think at the end of the day like think about how much money you're gonna need to make sure that your parents have a great lifestyle when they're right you know not ready just to retire but if they need to go in a nursing home or something like that or if you want to take the family on all the Disney cruises I hear so many people say oh I want to take you know my extended family on a big family vacation that ain't cheap all right right and you're gonna need way more money than you possibly think so get over that and look at money as uses as a vehicle to lifestyle in freedom right as simple as that man and you know earlier this morning when we were working out we're coming back from the gym I asked hey man how's your new puppy you got a new dog yeah man you know puppy's doing great but I took her to the dog park and she got bit in the face and $1,000 later she had stitches yeah right now when you made out your plan for how much money you're gonna make in life did you decide that you know sometime in early 2019 I'm gonna get a new puppy and it's gonna cost me an extra thousand dollars on top of that you didn't and so life will bring you unfortunately seasons of death and destruction and cancer and in my mom's case she's got dementia she's losing her mind she's got Alzheimer's disease now we are taking her to the best doctors in Newport Beach we're doing everything we can to prolong her memory because I've got the financial resources to do that now did I plan for that when I was younger ten years ago that gee you know my mom and her 80s might start losing her mind so I better start putting money away no but I just knew that life is chaotic and that I'm going to need at least 50 to a hundred times more money than I think yeah if I want to be able to take care of the people that I want and then take care of the causes that I want because right dude I got team members and I openly tell all my team members I want the lowest paid person on my team to be making seventy five thousand a year for that to happen I constantly teach them to become entrepreneurs or what we call intrapreneurs in their own Department I help them increase their personal development so that they feel more confident in solving big problems in our headquarters so that I can give them bigger money right and so for me to pay them more than what they would get paid elsewhere I need to make more money and not enough people think about this and instead end up really under estimating what they need and end up suffering because of it yeah and also people have these causes oh I'd love to give $1,000 to charity why stop at a thousand why not why not be the person who writes a million-dollar check to charity because we ain't running our charities and we ain't running out of you know charities that need money so right do the millionaire math make more money not just 114 dollars an hour but think about all the other ways that you can go and make millions and millions of dollars helping more people solving bigger problems and if you don't know where to start that's reason number million and one why you need to be at the empire summit calm this year with myself bei gross Tom bill you we got ray cash care we got Jason Redmond to Navy SEALs Chiron supervisor Ron robots who are our two female speakers Shanna Sumter ah 25 million a year teaching women how to take their vision and ideas and turn it into a business and she's gonna teach the exact strategy that she's helped women turn into millionaires which is doing the running a successful and profitable online summit which is her her superpower and then we've got Michelle Bower yeah whose amazing at this as well she has two gyms in Pennsylvania yeah and spends all her time with her family because her gyms are running on autopilot and she's making seven figures Wow and she's able to do that well she's been a coaching client for many years but she's gonna share the seven pillars that she's built her business model on that allows her to have that much freedom in time absolutely amazing plus I'm gonna do a pre day summit for our VIP attendees on a social media millions so make sure their the empire summit comm be anything else you want to say to our aspiring millionaires well I'll tell you what folks you know this the more sophisticated and bigger the problem that you solve the more money you're gonna make in life so do yourself a favor go out and solve more problems instead of looking for more followers that are fake and be sure to leave a comment reviews share this episode and we always appreciate you watching and listening take care hey thanks so much for being here for today's Empire podcast show we would love for you to do a quick little favor for us just go to iTunes and give us a five star rating leave a comment share it with your friends and if you're interested in growing your business faster go to Pedro school en comm forward slash Empire fill out the application to see if you're a good fit for our Empire mastermind group

Channel: Bedros Keuilian

Views: 8,585

Rating: 4.9752321 out of 5

Keywords: entrepreneur, business, success, leadership, mindset, motivation, personaldevelopment, productivity, hustle, millionaire, how to become a millionaire, how to become rich, how to get rich, how to make money, become a millionaire, self made millionaire, how to become a millionaire as a teenager, millionaire mindset, how to be rich, become rich

Id: CaApnZhJL84

Length: 26min 46sec (1606 seconds)

Published: Sat Jun 22 2019