Transcription
By the end of this video, you're going to know exactly what to do step by step to reverse engineer your first million-dollar year, even if you're not making six figures yet and you have no college degree. The title of this video is "Reverse Engineer Your Million-Dollar Year." Step by step, the exact number of customers you need, the exact price points you need to have for your first million-dollar year.
I remember I was thinking about this this morning. Back in the 80s, when I first started to come across people who actually made a lot of money, back in 1985, a lot of money was $50,000 a year. That was a lot of money. Like, a lot, a lot, as my granddaughter would say, right? A lot, a lot, right? And then I started hearing people talk about $10,000 a month, and I'm like, I didn't know that anybody. I didn't know professional athletes made $10,000 a month. I didn't know movie stars made $10,000, like $10,000 in a month. Those words never went together in the same sentence in my whole life up to that point. So, the idea that somebody could make $10,000 in a month was absolutely mind-blowing to me. I was of the mindset if I could make $300 a week, right, which is about $15,000 a year, that would have felt like good money to me back then. Okay?
And so now I think about, like, $50,000 a year. When I first got started as an entrepreneur, you know, the number was... well, when I first got started, it was $10,000 a month. And then when I first started making money, it was like, "Oh man, when I get to $20,000 a month." $20,000 a month. In fact, when you read my book, "From the Trash Man to the Cash Man: How Anyone Can Get Rich Starting from Anywhere," one of the things I say in that book is, um, if you're making less than $20,000 a month, it's not a good idea to be watching television. Why would you want to watch somebody else live their dreams while you're living a nightmare? Right? And back then, when I wrote that book in 2006, $20,000 a month, that was, at least to me at that time, that felt relatively significant, right? Um, now, in my mind, like $50,000 a month is going to be a baseline because everything costs so much more. I was looking at houses. A house that I just looked at recently that recently sold for $2.5 million, in 2019, it was $1.4 million. Did the house become that much more valuable over that time, or did money become that much less valuable over that period of time? One of the reasons I'm talking about these numbers, not to impress you, but to help you understand: if you don't figure out how to get way ahead financially, you are going to get left behind financially.
How many tracking? Wave at me if you're tracking. Okay. So, here's what we want to do. I'm going to give you the step-by-step formula. And here's what we want. If you're watching on YouTube right now, grab a pen and a piece of paper. This is going to be a workshop video because I'm going to give you step-by-step, a step-by-step process. We're going to answer seven questions. And when you have the answers to these seven questions, you'll know exactly what you need to start working on to get to your first million-dollar year. Everybody, everybody got it? Okay.
So, the first question is, um, what practical experience do I have? So, what question number one: What practical experience do I have solving a problem? What problem can I solve? What practical experience do I have solving a problem? Now, you could... all of us, I mean, if you're an adult, you have had some problems. Is that right? Yes. Okay. So, if you're an adult, you've had some problems. You've obviously figured out some of them. You may not have figured out all of them, but you figured out some of them, right? So, if you're an adult, you had to figure out, like, how to, like, if you have a house, you had to figure out how to get a house. If you have a car, you had to figure out how to get a car. You had to figure out how to drive a car. Maybe, um, maybe because of some experiences in your life, you had to learn, like, self-defense. I just saw this video yesterday, um, on YouTube that they were selling a self-defense program for people who don't have time to become a black belt, basically, right? And you learn these techniques and you can use them right away. That was the unique selling proposition, right? And so maybe you know how to fix things. Maybe you know how to do art. Maybe you know how to do music. Maybe you know how to play the guitar. Maybe you know how to play the piano. Maybe you know how to get in shape. I don't know, but you know how to solve a problem. Like, what problem? What practical experience do you have solving problems? And then make a list. Okay, well, I can solve this problem, and then I can solve that problem, and then I can solve this problem, and then I can solve that problem, and then I can solve this problem. Like, make a list of all the problems you know how to solve. Like, all of them. Like, make an exhaustive list. Maybe you'll have five things. Maybe you'll have 105 things. But the more things you have on your list, the more likely you are to come up with something that's going to be beneficial that you can use as a business. Maybe you know how to post on social media. Maybe you know how to write emails. Maybe you know how to write sales copy. Maybe you know how to sell. I don't know what the thing is that you know how to do. But I do know that if you're an adult, you know how to solve a problem, right? You didn't make... even if you don't make six figures, you know how to solve a problem. If you've ever had a job, you know how to solve a problem because the people who hired you at that job hired you to solve a problem that they either didn't know how to fix or didn't want to use their time to fix. So, you know how to solve a problem, right? Okay, cool. So, that... once you have the answer to that question, you're well on your way. So, that's question number one. What problem experience do I have solving a problem? Okay.
Question number two: What people can your experience solve that problem for? Okay, so that's question number... that's question number two. What people? Like, what people have that problem? This is one of the reasons why I like figuring out problems that business owners have. Why? Because if business owners have a problem, a good friend of mine taught me this a long time ago, and he was in the furniture business, and he sold furniture to furniture stores. He didn't sell furniture to people who wanted to buy furniture. He said, and he said, "Just like this." He said, "Brother Marin, I'm going to tell you something." He said, "If you're selling something to a business that the business has to have in order to stay in business, you'll always be in business." It's like, "Shut up." I didn't say shut up, but I'm like, "That's brilliant." So that means... that means if I know how to solve a business problem that businesses have across the board, my likelihood of success is very high if I'm very good at solving that problem. This is so good. Are y'all tracking? So, okay, what's the number one problem businesses need to solve? They need more customers. They need more customers. So, if I can figure out, and by the way, what does "more customers" look like? Well, it looks like a lot of things. It looks like either, um, more people need to find out about them. Well, how do people find out about businesses? Well, they can find out through an advertisement. So, maybe you're good at running ads. They can find out through social media posts. Maybe you're good at running, like, posting social media. Maybe you could become the social media department for a whole bunch of different businesses. Maybe you're good at creating webinars. Maybe you could be literally like create... have a business pay you $20,000 to create a webinar for them and then have them pay you a percentage of all the stuff that comes in on the back end. Like, all the sales that come in on the back end, you get a percentage of it. Or you could have them pay you $20,000 or $5,000 or $10,000 or whatever you charge on the front end, and then they pay you a monthly continuity for that webinar. And you set up all of the infrastructure. And then guess what? If they don't... if you set it up in such a way that if they stop paying you, you just go to another business. "This is how much money we've made for this XYZ business, and we've got this webinar. It already works. It already converts. Now, my question is, would you rather that I sell it to you, or would you rather that I sell it to your competition?" You see how simple that is? So, figure out a problem that you can solve for business owners. Guess what? Here's what I found out. You ready for this? What if you solved the problem for parents? Because here's what I found out about parents. All parents have children. Huh? Yeah. Yeah. Y'all weren't ready for that, were you? Like, like all parents have children. So, what are some common challenges that parents of children have? Maybe they want their children to be better athletes. Maybe they want to work at... focus on their children's health. Maybe they want to work... focus on their children's education. Maybe they want to focus on their children's, um, their children's financial literacy. I don't know. But if you know something that would be beneficial for parents' children, it's probably a good business to be in, right? Guess what? There are people who've made millions and millions and millions and millions of dollars, even billions of dollars, selling stuff to people who have pets because people who have pets love their pets. It's like, like, all you... the reason you can't... the reason you haven't solved your financial problem yet is because you're still attempting to solve your financial problem. All you have to do is solve somebody else's problem and then charge them for it. That solves your financial problem. The reason you're still struggling financially is because the only problem you're obsessing over is your own. So, what people can I have the problem that I can solve? So, who are they? And then start making a list of the people. Well, doctors have the problem, and then lawyers have the problem, and then gym owners have the problem, and then mechanics have the problem, and then on and on and on. And you just make a list of the type of people that have the problem. Parents have the problem. Husbands have the problem. Wives have the problem. This is so simple, but we don't... like you say, "Marin, how do you make millions and millions of dollars?" Here's how you do it. You think like this. You ask yourself these questions. You find the answers, then you go out and execute. This is how I make millions of dollars. It's... it's kind of funny because I'm not talking about anything that a fifth grader couldn't understand. Maybe a third grader. Like, okay, that's pretty simple. Did I... did I leave anybody yet today? Is everybody still with me? If you're with me, say, "I'm with you." Okay, cool. So, I just want to make sure. Okay, cool.
So, now, so what people... I know a guy who has a business that does well. It might do... last time I talked to him, his business was doing $28 million a year. You know what he was doing? Teaching attorneys how to do marketing to get clients for their law practice. And I know what you're thinking. You're thinking, "Yeah, but I'm not an attorney." Congratulations. Neither is he. But he knows how to solve their problem. Okay, cool. It's literally like thinking, well, um, I'm a dentist. Um, so I only want to like... I have a... I have a... I'm a dentist and I broke my arm, but I only want to go to an orthoped... like an orthopedic doctor who's also a dentist. It doesn't make any sense, right? Okay. You get... you get my point. Okay.
Here's the next question. This is one of the most important ones. And by the way, we're going to come back and answer some of these. Okay. Yeah, we're going to come back and answer some of these in more detail, but we got to get them all down first. Okay. Question number three. What? You wonder what I'm going to say at you. I... you... one of my favorite things to do is to build anticipation. Is it working? Okay. So, so what price can I charge for solving that problem for other people? What price can I charge? Now, if I don't get one and two right, and I start with number three, I'm just making stuff up. If I... if I don't have one and two figured out and I just start with number three, I might just be a con artist. How many on tracking? So, what I want to do is I want to make sure I know what problems I can solve, and I want to make sure I know who I can solve those problems for. Then I can start talking about charging. Well, are y'all ready? I understand how money works so that I don't have to work for all of my money. I want my money working for me harder than I work for my money. Are y'all tracking? I want my money working for me harder than I work for my money. Therefore, I have created assets. Okay. So, I... I learned how money works. I used to be in financial services. I was insurance licensed. I was Series 6 licensed. I was Series 63 licensed. I learned about the magic of compound interest. And if you... and and how the rule of 72 works, and if you take your interest rate, you divide it into the number 72, whatever your answer is, that's how long it takes for your money to double. If you're not using, um, if you're not using, um, compound interest in your favor, then there are institutions out there that are using compound interest against you. And so I learned all that stuff. So, guess what I did? Wrote a book about it. Now, how much can I sell the book for? I sell this book for $20. Oops. I sell this book for $20. Which means if I want to make a million dollars solving this problem with just this book, I need to sell 50,000 books. Congratulations. That's a million. That's a million dollars. Now, in order for me to sell 50,000, 50,000 books in a year, it's a lot of books. Uh, it's... how many books is that? A lot. It's like more than a thousand books a week. It's a lot of books. But is that doable? Have people sold more than a thousand books a week? Absolutely. Um, I don't make a million dollars a year, um, with this book, but I make over $100,000 a year from this book that I wrote 19 years ago. 19 years ago, without me getting out of bed, without me having to go talk to anybody, we sell $100,000. Now, for those of you who are watching, don't buy this book on Amazon unless you're buying the ebook. It's only $10. But this book on Amazon, I've seen it for as much as $1,100. I see people selling it all the time, selling it all the time. I've got a new, um, VIP client, and I was talking about the fact that people pay. He said, "Yeah, I just paid $169 for that book last week on Amazon." Don't buy it on Amazon. If you want to buy it, buy it on my website, trashman2cashman.com. If you want the physical copy, if you want the ebook, you can get it for $10 on Amazon. Okay. So, so, but I sell it for... I sell it for $20 on my website plus $9.99 shipping and handling. That's a... that's $100,000. But what if that's... what if that's a little too slow for me? That might be a little bit too slow for me. So, I don't want to do 20,000. I don't want to... I don't want to sell 100,000 books. So, what I'm going to do, what if I take this book and I turn it not into an audiobook, but I turn it into an audio course where I'm teaching people the principles in more detail on an audio from this book? I can sell that for... I can sell that for $200. Now, I only have to make 5,000 sales. Hm. 5,000 sales, that's only a little over a hundred sales a week. 100 sales a week, that's only a little over 20 sales a day. In fact, if I do 20 sales a day, seven days a week, ah, now I'm at a million dollars. Are y'all tracking? So, that's pretty cool. But wait, there's more. What if I said, "You know what? That's a little more work than I want to do, too." So, I'm going to instead of just teaching financial literacy, I'm going to take this book and I'm going to take this book and I'm going to take the concepts from both because this is my book on how to build businesses. I sell this one for $30. It's called "Boss Moves." I'm going to take the principles from "Boss Moves." I'm going to teach people how to make a lot of money. I'm going to teach people what to do with their money. I'm going to put that together, but I'm not going to put it together as a book. I'm going to put it together as a home study course, and I'm going to sell it for $2,000. H. Now, I only have to sell 500, and I've made my million dollars. A $2,000 home study course. I... I sell 500. 500. That's 10 a week. That's 10 a week for a year. That's 10 of these a week. 10 a week is two a day. I might not be able to do 20 a day, but I can do two a day. Two a day. Every day, Monday through Friday. Sell money on the weekends. And I take a two-week vacation. I don't take a two-week vacation. My website takes a two-week vacation where I'm selling that $2,000 course. I'm like, "H, you know what? That's cool." But you know what? What if I take this concept that's in this course and I teach it over three days live and I turn it into a mastermind and I teach... in fact, what if I teach these concepts for two days, and then they come back later in the year and they teach this concept for two days, and I have two masterminds a year where I'm teaching these concepts? I'm teaching people how to make money. I'm teaching people what to do with the money, and I charge $20,000 for that mastermind. Wow. Now, if I... if I do $20,000, then I only have to sell 50. I made a million dollars a year. So, this is why I'm asking, what price point am I selling my solution for? The bigger the pain of the problem, the bigger the price for the solution. Is this... is this seem oversimplified, y'all? Y'all, if you're good, say, "I'm good." Okay, cool.
But wait, what if... what if I have audacity? Like, audacity is something that you can't buy at Walmart, right? So, what if I have audacity? You can't even buy it at Neiman Marcus. Like, where... where do you get audacity? I don't know. Maybe you got it from your mom and your daddy. I don't know. But you... what if you had a little audacity and you said, "You know what? I'm going to take all the value that I have from the things that I know, and I'm just gonna put it out there, and I'm gonna take and work with somebody one-on-one for eight hours for a whole day and help them build out their whole thing, whatever their thing is." What if you said, "They're... I'm going to charge them $200,000 for that." Now, I know what you're thinking. Nobody's going to pay me $200,000, right? So, what you've done is you've pre-decided what people won't do instead of letting them make that choice for themselves. One of the reasons people don't raise their prices to a... Now, I'm not saying everybody has something that's $200,000 worth of value. Maybe you don't have anything that's valuable enough for somebody to pay you $200,000 for yet. But let's say when you get there, do you have enough audacity to say it's $200,000? Do you? 'Cause I'm going to tell you something. In 2022, I decided I'm going to sell a VIP day for $200,000. And guess what? Two people bought it out of the gate. And then I said, "Hm, I wonder how I can sell more of these." Oh, yeah. I've got an event coming up. I'll raise the price. Say, "How does raising the price help you sell more?" Because I told them, "If you want to get it at $200,000, you better get it now because if you don't, next time I offer it next year..." And this event was at the end of the year, was in October. In the next year, in 2023, the price is going to $350,000. Guess how many people bought it? 16. So, I sold 18 of these $200,000 things inside the first six months where I created it. What? But what if I didn't have audacity? Oh, by the way, and we delivered on the promises. One of the guys who bought this $200,000 VIP day, he had an event. He did $5.7 or $6.7 million in one day. So, I only got 200 grand. He got... Right. That's how I know it's valuable. When the person you're giving the... giving the solution to, when they win bigger than you win, then you can keep on winning. Guess what? I raised the price to $750,000. That year, we sold 12 at $350,000. And then we raised the price again to $375,000. You say, "Marin, what's your point?" I'm just saying, what price can you charge? It depends. How big is the pain of the problem you solve? Is... is this making sense? Yes. Okay.
So, by the way, that's only the third question. We still have four questions. 'Cause there's... that's not... I mean, that's not all. That's just... that's where it begins. Okay. So, the next question, number four. Question number four is, what products can I create, um, to to execute my solution? What, what are the problems? What are the products I can create? So, what are the... what products can I create? And we already talked about some of them, but we didn't talk... we didn't even come close to talking about all of them. So, I could create... I could create books. I could create, um, coaching. I could sell tickets to an event. I could create masterminds. I could create agency services, etc., etc., etc., right? So, I can create products. Now, notice I asked the question, "What products can I create?" I didn't ask the question, "What services can I provide?" Did y'all notice that? Okay. Why did I ask, "What products can I create to solve that problem?" rather than "What service?" Because if I sell a service, I've anchored it to my time. Is time something I have in unlimited supply, or limited supply? Limited. So, if I anchor my revenue generation to time, my revenue is always going to be limited. Why? Because that's how I set it up. That's why I sell products. It takes me no longer to sell a hundred thousand books than it does to sell one. That "Trash Man to the Cash Man" book, we sold over 175,000 copies of that book. I don't know how many "Boss Moves." I guess I should go figure it out. I should go... Melissa, remind me to check with our printer and find out how many, because I don't even know what the answer is. But I know one thing. This book, this book that I wrote in 2021, this book makes me between $360 and $400,000 a year, year after year after year after year after year. So, that's why I say products. Why? Because if I'm selling a product and I have some kind of automated sales engine out there in the marketplace, that automated sales engine is going to keep making sales whether I'm doing something or not. I'm sure I made sales while I was sleeping last night. I'm sure I did. I don't know how many I made because I just didn't look at it. You know, there comes a point where you just... it just keeps on happening, and you don't have to think about it anymore. Okay. So, what products? So, how can you take what you know as a solution for other people's problems and how can you productize that solution? Some of you, it's going to be a physical product that you're going to create. And maybe it's a physical product that's an invention. Maybe it's a physical product that's some kind of solution. When I say solution, like maybe if you have a cleaning service, maybe you could productize a cleaning product and sell that product. So, for instance, Elon Musk is one of the richest men in the world because he created a product and he created a demand for that product called an electric car, and then he gave away the patent for his motors. Why? Because he didn't want to be in the car business, he wanted to be in the battery business. And so he knew in order for those people to use his patents, they would have to use his batteries. And so he created a market for the product that he really wanted to sell. Why? Because he was thinking ahead. He was getting his... what am I going to do right now based on the outcome he desires to have in the future? What we do is we'll come up... well, uh, I'm going to do some stuff and see how it turns out. No, see how it turns out and let that determine what stuff you do. Does that make sense? So, product. What product can I create? Okay, that's number four.
Number five is, what platforms? Number five is, what platforms can I engage on to promote my product? What platforms can I engage on? Man, there are so many platforms out there. Um, can I engage with people looking like... there are... there's social media, there's print, there's TV, there's radio, all of... and then you start naming these. There's a bunch of social media, a bunch of different print outlets, a bunch of different television stations, a bunch of different radio stations. Like, none of us have time to take advantage of all of the platforms that are out there for us to utilize to let people know we've created a solution for their problem. This... like, hopefully, hopefully y'all can see that all I'm doing is reporting to you stuff I do, right? I'm not teaching you any theory. This is not something I read in a book. This is just... this is what I do. This is what I teach my students to do. This is what they do. Works for all of us. Who knew? It might actually turn into a thing one day. Okay. So, what platforms? By the way, if you... especially, especially if you get really, really good at, like, if you get really, really good at obsessing over other people's problems, not for the purpose of saving them, but for the purpose of serving them. I was thinking this morning about this concept. Um, there are a lot of people in the world who practice what I call virtue victim savior. So, they think something's good. They look at all the people who that good is not being done for. So, they look at those people as a victim, and then they want to come and save them. But they don't want to use their money and their time, their effort, their energy to to save those people. They want to go tell other people that they should use their time, effort, energy, and money to save those people. And so they campaign because they're so virtuous that these people out here are victims. And if... if I don't save them, if we don't save them, my message and your money, right? Um, if we don't save them, they're lost. Okay? I wouldn't buy into that if I were you. Okay? So... So, what platforms? And if you get on the platforms, here's... here's the thing about getting on platforms, though. You... you actually have to be good enough... get good enough at communicating to them that you can solve their problem, that they have a desire to pay attention to you. The algorithm doesn't like me. The algorithm is the audience. If the algorithm doesn't like you because the audience doesn't like you, the algorithm doesn't pay attention to me. That's because the audience isn't paying attention to you. You know why? Because you're still talking about you, or at least you're talk... worst-case scenario, you're talking about stuff the mark... the audience doesn't care about. The audience will always pay attention to you if you will pay attention to them first. It's how it works. That's why, like, I would rather create videos to teach you about the perturbation of wealth creation. But if I... if I had a video called "The Perturbation of Wealth Creation," nobody's going to say, "I want to watch that." You know what they're going to say? "The who of what?" So, I have to... if I'm going to... if I'm going to teach you... Oh, I'm going to teach you the physics of financial freedom. Yeah, that's great for you. You got to... you have to... you have to have something. I got this from Jim Rahn. I didn't make it up. You have to have something good to say, and you have to say it well. And a lot of you have something good to say. You're just terrible at saying it. Like, somebody said to me one time, I was singing. They said, "My, you have a beautiful voice." I said, "Thank you." They said, "Too bad you tear it up getting it out." It's like, "Right." And that's how some of you are with your messaging. You got a great message, you just tear it up getting it out. By the time it comes out of your mouth, nobody can tell it's a good message anymore. Okay.
So, so once you got all those things figured out, like, like, what practical experience you have solving other people's problems, what people can, um, your experience solve problems for, what price should you charge for solving that problem, what products can you create to execute that solution, what platforms can you engage on? Then you ask yourself question number six. What principles can I use to perpetuate that solution? So, what principles of automation, what principles of delegation, what principles of multiplication can I use to, um, perpetuate that solution? People buying that solution. So, like, it's interesting. I was at the golf course yesterday. This girl has been working there, a cart girl. She drives the beverage cart, and she's like, "I saw you on an interview." Yeah, I've been on a few interviews. My wife said, "Yeah." She's like, "I said, 'I know him.'" Yep. You know me. And she said, uh, she said, "I'd just like to sit down with you sometime and just like get some ideas." Wow. I like, "Wow." And then, um, okay. I said, "Well, next time I see you, I'll have a book for you." She's like, "Okay, well, if you just tell me where to get the book, I'll get... I can just go get the book." I was like, "Okay, well, just go to my website, myangold.com. You can find all the stuff I have for sale there." She said to me, "You have a website?" I thought that was so funny. Like, you have a website? I'm like, "Uh, yeah. I have a bunch of them." Okay. Um, and so, so the reason I have a website, shocking as it may be, is so if somebody wants to buy something from me, I don't have to be there. Yeah. It's the principle of automation, right? People buy stuff from me all day. All day long, all night long, people are buying stuff from me. Like $3,000, $4,000, $5,000, $10,000, $20,000, $80,000 a day, people are buying stuff from me. Depending on the day, all day, whether I'm there or not. I'm at the golf course, people are buying stuff. I'm at the restaurant, people are buying stuff from me. I'm in bed asleep. I'm not even dreaming about work. People were buying stuff from me. My... what's your point? Because I asked the question, "What principles? What principles can I apply? What principles can I execute on that can perpetuate letting people know I've solved their problem? I've got a product. This is the price. What, what principles can I apply to that?" It's so fascinating because I was... I was thinking there's really no such thing as passive income. There's deferred income, right? Um, like the closest I've come to passive income, the closest I've come to passive income is writing books. That's the closest I've come to passive income. But that's not even passive because when the warehouse runs out of books, I got to call them and tell them, "Print 5,000 more books." And then then my team has to call them and say, "Hey, we need more books." The distribution team has to call them and say, "Hey, we need more books to ship out." Right? So, it's not... I don't... it's like it's passive-ish for me, but I have to pay them to do that. They're not doing it for me because they love me so much. I mean, they probably do, but not probably not enough to do it forever, right? So, so it's like it's like what principles can I apply? Well, what I want to... I want the principles that I want to apply are one, automation. You don't want to automate everything. You just want to automate the things you don't like to do, the things you're not good at, and the things that are not a good use of your time. Does that make sense? I don't automate everything. Like this whole... the idea for this video came from me. I did this idea for this video. In fact, I'm not... nothing in this video came from AI. Nothing that I'm teaching you right now, none of this came from AI. Now, sometimes I'll use AI to do research. I didn't need AI to research this. This is how I live my life. AI is not the one making like $15 million a year from this stuff I'm sharing with y'all. I am. So, I already know it works. I didn't need to... "Oh, I wonder what I'm going to ask ChatGPT, 'How do I teach people how to make a million a year?'" I don't have to ask ChatGPT that. I've taught people how to make a million dollars in a day. I've got clients who had million-dollar hours. So, this... this is a million dollars in a year. Okay, let's say you're not that ambitious. You divi... take everything I'm talking about, divide it by 10, you at least got $100,000 a year. Okay. So, so, okay. So, the second thing I want to... the second principle I want to apply is I want to apply the principle of delegation. Delegation. And I may have misspelled that, but if I did, this is like... this is called a spelling box. It's not like spell check, but it's a spelling box. If I misspell a word down here, take any letter between A and Z, put it where it goes. Together, we can spell that word right. Okay. Okay. So, so, so what are... what are the principles that I can execute on to perpetuate this money machine continuing to run? All I have to do is go in and add oil every now and then. Add a little gas. Like, boom. Okay.
Number six. Oh, that was number six, wasn't it? Number seven. This one's so important, by the way. This is the one that creates legacy wealth. Number seven, what practices? Um, what practices of financial literacy must I engage in in order to perpetuate the wealth I'm creating instead of decimating the wealth I'm creating? Because a lot of people, they create wealth only to decimate it. They create wealth and don't perpetuate it. And they... they figure out... people figure out all kinds of ways to do this. So, where does... remember me talking about where does value come from, right? Well, value comes from past perceived voids. There's like some people when they create wealth, their past perceived voids consume all the wealth they create. All the things that they were missing in the past, as soon as they start making big money, big money, whatever that means, they start buying all that stuff. And so now they don't have their money making money. The reason... the reason some of y'all may wonder why rich people are so cheap. Like, why are rich people act like, "Oh, it's only $5. Why are they acting like that's a big deal?" The reason we act like it's a big deal is because that $5 is not just worth $5. We're looking at how much that $5 is worth over time. You're looking at the value of that money. We're looking at the time value of that money. You're looking at the consumption value of that money. We're looking at the production value of that money. And so when I take my money out of whatever it's invested in, and I use it to buy a car or a house or some stuff or some clothes, then that money no longer works for me. Now it goes to work for somebody else. So, what I'm doing every time I buy something that I don't need is I'm firing my money and giving somebody else... sending it to work for somebody else other than me, other than my family. That doesn't make sense to me. It makes more sense for me to deploy and employ that money so that when that money makes money, I spend the money the money makes. I don't spend the money that Myron makes. The money that Myron makes is for the purpose of putting it in a machine that makes more money. This is how you perpetuate your family wealth instead of decimating your family wealth.
Now, notice I didn't say, "Okay, well, what you do is you go, you go and you build a webinar and you sell stuff to people, or you become an affiliate marketer, or you do Airbnb, or you start putting cars on Turo." I'm not. No, I'm telling you that you are the resource. The... what's the message of this? You are the resource. The whole... the precipice of every, like, the foundation of everything that I said is based on this: What problem do you know how to solve? So, where's the answer? It's in you. And that's going to be different for everybody. And so you have to sit down and do the work that I showed you to do on this video. And if you sit down and do the work that I showed you to do in this video and you answer all those questions, and then you start applying the answers that you found, I dare you to come back and tell me it didn't work. I challenge you to come back and tell me that didn't work because I know it works. And it'll work for anybody who's willing to work it. So, that's how you reverse engineer your million-dollar year. Exact step-by-step instructions on what to do to make a million dollars a year. Oh, by the way, if you want to make a million dollars a month, multiply all that stuff times 12. It's how it works. Appreciate y'all watching the video. Thanks for hanging out with me today. Please do the work of this video. This is... this is one of the most important videos I've ever done on YouTube. Please do the work. If you do the work of this video, I promise you it will work for you. Bye for now.