If I Wanted to Become a Millionaire In 2024, This is What I'd Do [FULL BLUEPRINT]

    Blueprint to becoming a millionaire

    The speaker shares a blueprint for becoming a millionaire, breaking it down into levels. The first level is the fundamentals of wealth creation and understanding what a millionaire is.


    Long game

    The speaker talks about the importance of having a long-term approach to building something that will last.


    Finding a hungry crowd

    The speaker discusses the importance of finding a 'hungry crowd' when starting a business.


    Key to Getting to a Million Dollars

    To become a millionaire, you need to follow the three variables: Avatar, Offer, and Channel.


    Value Equation

    The value equation consists of four variables: Dream Outcome, Perceived Likelihood of Achievement, Time, and Effort or Sacrifice.


    Marketing and Sales

    Marketing and Sales are essential to get leads and convince them to buy your product.



    When you're starting out for your first million, just pick one advertising method and let's say you're using Lead Getters, you have to learn one of the core four to then get Lead Getters and that's okay that's fine that's part of business these will always give you more leverage than the first four and that's okay but you have to start with these first so let's assume that you're just going to stick to the core four in the beginning because you're like I don't want to involve other parties which I recommend especially if you're starting out and you're like you know what I'm going to post content that's your your method all right now you're going to have all these people who like your posts comment on your posts DM you personally when you make content that they find compelling or interesting and they say hey I love your help on whatever this thing is then you transition into sales.


    Goal Setting

    When it comes to setting goals for portfolio companies, it's not the way that you think but it is something that you're going to recognize because we actually use the scientific method and here's how it works four simple boxes...)



    One of my mentors uh was ex Goldman Sachs and one of his mentors at Golden Sachs told him you should only have to get rich once and I heard that saying it's really stuck with me is if you play the game right you should only have to play it once and then after that you should be paying with house money the whole time and never take bets that you would lose the farm over.


    The Dual-Sided Nature of Advertising

    You own only (2457.16) advertis in this direction who's going to deliver the thing to these customers well you need employees which means that you also need to be advertising to get candidates to turn into employees and so this is ultimately the dual-sided nature of advertising because as you grow the left side you need to also grow the right side if you want to continue to get these customers to buy again and again and again then we also need to advertise in this direction to the customers to get them to buy again


    Compound Interest

    Compounding is when something multiplies unto itself all right so if I have $100 and it compounds at 10% a year next year it'll be at $110 the year after that I get 12 then 13 and by my 20th month I can open two locations I get to 22 then 24 and it compounds because by that time you'll have built out the infrastructure to sustain a faster pace


    The Importance of Patient

    there was a test called the marshmallow test they took little kids and they can put a marshmallow in front of them and they wait 30 minutes and then they can eat the marshmallow now if they eat the marshmallow during the 30 minutes they didn't get a second marshmallow if they able to wait 30 minutes and not eat the marshmallow then they would give them a second marshmallow at the end