- It's hard to believe that making $100 was one
of the most impactful, and memorable moments
of my career, and my journey into becoming an entrepreneur.
And because I made $100, that gave me the momentum
and motivation to make millions.
And I'm gonna share why this is so huge,
why this is such a huge milestone
that many entrepreneurs don't reach.
And we're gonna find out what that means and how
you can make more right now.
(upbeat music)
What's goin' y'all, welcome back to the channel.
This is Wealth Hacker Labs, the channel dedicated
to teaching you new ways to grow wealth
that is not taught to you in schools or by your parents.
I am your gracious host, Jeff Rose and we're talking
about making $100.
Now chances are, if you're watching this,
you've already made $100 in your life and most likely,
that didn't change your life that much.
You didn't retire, you didn't go buy a new house,
you didn't go buy a new car,
you probably paid some bills and maybe grabbed
a cheeseburger at some fast food restaurant,
hopefully In-N-Out Burger, because there isn't a better
cheeseburger on the planet than In-N-Out burger.
I mean, come on, I got the hat.
That's how good it is.
So you're probably wondering why me making $100
had such a huge impact on my life and my career
and why did it, or how did it help me make millions.
And before I share that, where I want to start is with
a quick backstory and what this channel is all about.
This channel is called Wealth Hacker Labs
and we're all about accelerated wealth building.
We want to be able to build wealth much faster
than our parents, much faster than our grandparents,
we want to be able to enjoy our wealth when we're young
and we're healthy and we can get the most
out of it and our life.
And if this resonates with you, go ahead and hit that like
button because you know you wanna build wealth
and everybody else too.
- [Blue Button] Hey man, I like. (upbeat tune)
- In my journey, the idea of building wealth
at a much faster, accelerated rate didn't start
until I read the book, "Rich Dad Poor Dad"
by Robert Kiyosaki.
And in Kiyosaki's book he talks about how most people
are trained to go to school, get good jobs,
and aren't taught the basics and fundamentals needed
to actually build real wealth.
Now, I loved that book and I would recommend it to anyone
that hasn't yet achieved that mindset that believes
that you can create a different you,
a new path and build wealth much faster,
and much greater than what you are comfortable with.
But with that book, the one thing that I had to say
is that it didn't give you an exact blueprint on what to do.
It gave me the motivation, it gave me the inspiration,
but I had to go out and figure it out on my own.
And that began a journey of taking more risks,
exploring new things, trying out any business ideas,
all business ideas that I thought were a good fit for me
until I finally found what works.
But the hope I have and the reason why I started this
channel, Wealth Hacker Labs, to show people how
to hack their wealth is because I know many of you
have read "Rich Dad Poor Dad" or other books that have
inspired you, that you know that there is something else
out there, that you know that you can do greater things
and you can build wealth at an accelerated rate.
But like me when I was younger, you don't know where
to start and you don't know what to do.
So many of you just don't do anything.
Paralysis by analysis, you let fear creep in
and you don't take that first step.
So to help you take action and begin that journey
of achieving that accelerated wealth,
even faster than I have, I wanted to create some sort
of framework that will take you out of that paralyzed state,
out of that state of fear and prompt you
to do the first thing.
So what I have created, this framework is what I'm calling
The M.O.R.E. Method.
When I've reflected back on my entrepreneur journey,
I was able to see that there were certain things
that I did that had a huge and dramatic impact on my life.
And when I also looked at other successful entrepreneurs,
I realized that they were doing a lot of the same things
and that's where the M.O.R.E. Method came from.
So what exactly is the M.O.R.E. Method?
Well, the first M stands for Mentor,
and I've talked about this a lot on the channel,
the importance of finding a mentor,
but sometimes we get stuck because we think,
oh I've got to go find somebody that's a multimillionaire
or a billionaire that I can sit down with and have coffee
and they're gonna share with me everything
that I need to do.
But realistically, you probably don't have that person
in your network and if you did,
you probably wouldn't be watching this channel.
So sometimes you gotta realize that a mentor
doesn't have to be somebody that you meet with in person.
So for me, starting my entrepreneurial journey,
like one of my first mentors was Robert Kiyosaki,
from his book "Rich Dad Poor Dad".
Now, I've never met Robert in person,
we've never tweeted at each other,
I've never emailed Robert, but his books and all of his
information changed me.
It gave me what I needed to change my mindset and start
trying new things.
So for you, your first mentor could be a book.
It could be a podcast.
It could be a blog, it doesn't have to be somebody
that you meet in person.
The second M stands for Mastermind Group.
And once again, this is something I talk about a lot,
but a mastermind group is quite simply a group of people
that have similar interests, similar goals,
and you're going to hold each other accountable to make
sure that you do just that.
That you don't give in, that you don't quit,
you got somebody that's willing to listen to all your
pain points and also, all your successes.
It wasn't until I joined a mastermind group
earlier in my career where I really
saw some exponential growth.
It was so helpful to surround myself with other
successful, high achieving entrepreneurs.
People that I can go to with my problems,
but also share my wins.
All right the second letter O stands for Open.
And the first part of that is open some sort
of investment account.
Now if you already have an investment account open,
good for you, congratulations, that's awesome.
But many of you I know are still waiting,
I'm not really sure what you're waiting for,
but you still haven't started investing.
So I don't care where you open this investment account,
it can be with M1Finance, it can be with a local brokerage
firm, it could be with Lending Club or Fundrise or Fideltiy
or Vanguard, I don't care where you open it,
all I care is that you do and you start investing.
In my own personal journey, it wasn't until I started
investing $25 a month into a mutual fund
that it really impacted me.
Now you're probably wondering like what did $25 a month
do for you, but here's what it did.
Prior to that I had never invested, I had never opened
up an investment account, I don't think I even knew
what a mutual fund is, but that fact that I opened
an investment account, started investing,
I started getting statements, and I started educating
myself on how the stock market worked
and researching other mutual funds,
and I gained so much in that experience,
as opposed to reading another book on investing
or listening to another podcast on investing.
You will always learn more by taking action
than researching the action that you need to take.
The second O stands for opening your personal equity fund.
Now you may have heard the term private equity fund,
but what I'm talking about here
is your personal equity fund.
Now you may already have your emergency fund,
you may have like a savings account, your rainy day fund,
whatever that is, this is entirely different.
A personal equity fund is a savings account that you set
aside that you're going to funnel money into it
for the sole purpose of investing in yourself.
Investing in yourself could be buying a course.
It could be hiring a coach.
It could be joining a coaching program.
It could be buying more books or subscribing to some
sort of membership community that's going to give you
the information you need on whatever your business idea is.
The key here is you have to change your mindset
and stop asking yourself how much does it cost,
instead of actually asking yourself what do I need
to invest my money into?
The key mindset shift here is stop asking how much
things are going to cost,
like how much is this coaching program going to cost me,
it's not about a cost anymore, it's about the willingness
to invest in yourself.
All right the R stands for research,
but with research we have to have boundaries.
All right so you've got your mindset shift,
you've got your mentors, you've got your mastermind,
you're ready to start rocking and rolling,
so you need to do research on what you're going to do.
Is it a product that you're going to develop.
Is it some sort of online course?
Is it a book, is it a membership program,
is it a e-commerce store, is it a physical product?
There are so many different things that you can do,
you've got to do some research to figure out
what the market needs.
So this could be buying more books, listening to podcasts,
it could be joining Facebook groups and just listening,
asking questions and listening on what they may need.
Some sort of product or service that hasn't been created yet
or there's something already out there,
but you know that you can do something better.
But I say research with boundaries
because you can research too much.
I know for me I am the type of person that I want to know
everything about everything and I finally recognized
I don't need to know everything about everything,
I just need to know enough to get started now.
This is often referred to as just in time learning.
So for example, if you want to create a course
on swimming, but you haven't created the course yet,
then you don't need to buy a course that shows you
how to use Facebook ads to market your course.
You've got to finish the course first.
All right the last part of the M.O.R.E. Method is E,
which stands for execute and enjoy.
So you've been doing your research, you've been going
through Facebook groups asking questions, doing surveys,
emailing everybody on your network,
trying to gather information, and you've got your mentors
and you're ready to do something.
This is the most scariest part, but you've gotta put
it out there, even if you don't think that you're ready,
you don't know until you put it out there to the marketplace
and let them decide what things that you need to change,
what things that you need to improve,
or if you need to scrap the idea altogether.
So going back to my personal journey, that was launching
my blog, Good Financial Sense, whenever I didn't even
know what blogging was.
But I started, I launched it,
and I started writing blog posts that were horrible,
but I hit publish where anybody in the world could read it.
Now, granted nobody in the world knew it existed,
but I still put it out there and after publishing
blog post after blog post after blog post
for nine months, nine months later I finally earned
my first Google AdSense check, which was,
well it wasn't just $100, it was $152.
But for me, that was such a huge milestone in my life,
and that's what I want to stress to you,
is that this is the challenge.
As you go through this M.O.R.E. Method,
the first milestone that I want you to hit is making $100.
I don't care how you do it, whatever the side hustle is,
if it's a service, if it's a product,
if it's an online product, I don't care what it is,
your goal is to make that first $100,
because when you do,
it gives you the sense of accomplishment,
it gives you momentum,
and it shows you that it can be done.
I know it sounds crazy, but when I made that $152,
when I got that Google AdSense check,
it just, it was, I just remember I was so alive,
I was so excited and keep in mind I was making
over six figures a year with my financial planning business,
so $152 wasn't much, but it showed me that it was possible,
that I could do something
that I didn't have any skillset on,
something that was out of my comfort zone,
and I could do it and that just gave me even more
motivation to figure out how I could make more,
and make more, and make more,
and that's why the M.O.R.E. Method is so crucial
if you have all those steps and with all those steps,
you can make more.
And I talked to so many entrepreneurs that experience
this same thing.
They started something, barely made anything as compared
to their nine to five job or whatever they were making
like freelancing, but it was this idea,
this burning desire that they couldn't let go,
that they knew that there was something else there,
they knew, that there was something more
and they kept pushing, kept pursuing,
and that my friends is why the M.O.R.E. Method
worked for me, why it worked for other successful
entrepreneurs and why it can work for you.
So my question to you, do you want to make more?
Have you implemented all parts of the M.O.R.E. Method,
let me know in the comments below.
As always I appreciate you, appreciate the comments,
the views, the likes, the subscribes,
all of that stuff, all that support this channel.
This is Jeff Rose reminding you that it's your money,
it's your life, and only you can make it awesome.
Until next time, peace.