What does it take to become a billionaire? This is an answer that almost all of us would
want to know. Now, even if you don't feel like you need a billion dollars in assets,
the idea of the billionaire mindset is going to get you way further than where you are today.
Perhaps your goal is a million; perhaps it's 100 million. The rules are the same. But there are
couple of interesting things I've observed in actual billionaires that I've gotten to meet.
From Elon Musk to Richard Branson, from Naveen Jain to Ariana Huffington. So a lot of what I'm
sharing here is first-hand observations and advice that I've learned from these brilliant minds. Now,
the first rule is one of the most important. Practice resilience and adaptability. Billionaires
have what is called high AQ. What is AQ? Well, you've heard of IQ. AQ is adaptability quotient.
When things go wrong, you need to be able to adapt rather than give up or break down. In 2015,
I was invited with a group of entrepreneurs to visit Elon Musk at Space X, and I remember getting
to ask Elon a question. I asked Elon, what is the essence that makes you Elon? In other words,
if we could take you and blend you in a blender and reduce you to an elixir, what is Eau D'Elon?
What is that Essence that makes you Elon? And Elon said this: And it was really interesting,
he said: A high tolerance for pain. He said sometimes being an entrepreneur is like
crawling into a dark corner and chewing on glass, but you do it anyway. You see,
Elon has high adaptability. There were so many times when he almost failed, he at one point,
had seen his first rocket at SpaceX explode. his second rocket explode, his third rocket
explode. He bet everything he had on his fourth rocket, and it took off.
That incident allowed him to sign a multi-billion dollar deal with NASA which is the reason why
SpaceX is alive today. But imagine being in that situation: rocket after rocket ship exploding,
your critics laughing at you. That requires high adaptability. Billionaires have high
adaptability. You can train this skill: Meditation gives you high adaptability,
reducing your baseline stress level. Through practices like supplementation, mindfulness
training also give you high adaptability. There are many ways to do this, but this is one of
the key ingredients of the billionaire mindset. The second aspect of the billionaire mindset is:
Work less. I know it sounds crazy, but let me share a story with you. This I learned from
Wayne Boss and I've shared this story many times and it's always inspired people. Wayne Boss has
taken approximately seven companies public. In 2000 he was listed by the World Economic Forum
as one of the top 100 most influential people in technology I was with Wayne having a drink
at his gorgeous Penthouse apartment overlooking the Burj Khalifa in Dubai as we were gazing at
the most beautiful view you can imagine Wayne turned to me and said: "You want to know how to
be a billionaire" and I go "Absolutely! What do I need to do?" and Wayne says "cut down your working
hours" my response was "what?" he said "listen, work only 21 hours a week" and I told him "Wayne,
what are you talking about?" he said "work Tuesday for 7 hours Wednesday for 7 hours Thursday for 7
hours you must keep Monday and Friday free" I was puzzled so I asked him to elaborate he said
"when you design your life like this, this is what happens: Firstly you are forcing yourself
to become so efficient with your time because you have to get everything done in 21 hours
7 hours a day Tuesday Wednesday Thursday now Monday and Friday by keeping it free you are
open to opportunity. Wayne gave me an example he said If somebody calls me up and says "hey Wayne
come over to London to check out this hotel we want to buy" I can fly out Thursday evening be
in London connect with his business partners there be back Monday evening in time for work
on Tuesday. Wayne went on to elaborate, it's not about just being lazy and working 21 hours a week
it's about being able to be so time efficient that you can start a company, make it run on its own,
hire a great team, be ultra precise with your time and create space for discovery for opportunity
for strategy. That is how billionaires operate. Now you may not be able to get there when you're
just starting out I certainly couldn't, but as you grow your empire this rule becomes essential. Now,
the third billionaire skill is: Financial literacy and you wouldn't believe the number of
dumb mistakes I've made as I accumulated wealth. If I knew what I knew today 20 years ago, I would
probably be twice as wealthy because, while I was trained as an engineer, there was no one,
nothing out there to teach me financial literacy. Financial literacy means understanding how to
make your money multiply. How to make your money grow. It's not just about stupid saving tips such
as "well... you know... if you avoid drinking a latte every day and just brew coffee at home,
you'll save $2 a day which you can invest..." No! that's dumb. That's not going to make much of an
impact. Financial literacy is understanding the nuances of how to invest how to build a portfolio,
even if you're just starting out in your career, how to save and put money in the stock market what
to avoid. Avoid mutual funds for example. What type of stocks to buy, when to buy. It's about
knowing whether you should own your house or rent your house depending on your unique
situation it's about understanding why certain decisions that culture says you need to do:
Own a home buy a car may not actually be right for you but there are a couple of great books you
can read on financial literacy Robert Kiyosaki's Rich Dad Poor Dad is one of the most basic books
that you can read that would change your life a second book by Kiyosaki is called the Cash Flow
Quadrant. Again, a great book. In terms of real estate investing, definitely read my friend Robert
Allen's Nothing Down. It teaches you how to buy real estate, literally for nothing down, this book
will change your understanding and probably your goals in terms of owning your home. Finally, Tony
Robbins's book Mastering the Money Mindset. Is a brilliant read and something I highly recommend.
It's not too late to become financially literate. The fourth billionaire skill is really simple:
Build a network! so, I learned this from Keith Ferrazzi. Keith Ferrazzi is the author of the
book Never Eat Alone, he is the number one expert in the world today on building networks. Keith
once told me that he has three people managing a network of 10,000 people I can go to Keith and ask
him, hey Keith do you know someone who is a great advisor for COOs who happens to be in Austin?
All he has to do is deploy his massive database and he knows exactly the person. Not only that,
he has a personal relationship with that person. I've never seen anyone curate a network as well
as Keith. Another billionaire who is brilliant at this is Richard Branson some of the world's
smartest people come to Necker Island to hang out with Branson and he is so good at making
people feel welcome and creating incredible fun. I've been in Necker Island having dinner with
Simon Sinek on my left and Sarah Blakely on my right. You meet the most incredible people there,
but they come to Richard's home because of who he is and how lovingly he treats them. He's taken an
asset that he has, Necker Island and turned it into a beautiful place to bring people together.
Now, you don't have to be Mega-rich to start doing this. I encourage everyone I know to host
weekly dinners for interesting people in their city. Now, what does it take to host a weekly
dinner? A couple of bucks to order in pizza. To get a group of people together around the dinner
table to discuss your dreams to discuss new ideas. In fact, I started my company Mindvalley in this
way. It started on a boring day in New York City, when me and four guys I graduated college with,
came together over Domino's Pizza, one Night in New York, and the four of us decided to speak
about our entrepreneurial journeys. One of those companies that was formed from that dinner is a
company called Hooklogic which was sold for $250 million dollars. Approximately 15 years later,
another company that came from that dinner over Pizza is Mindvalley, which I'm sure you know,
this is the channel you're watching right now, Mindvalley today serves millions of people and is
the world's leading company for transformational education. So, you don't have to own an island
to bring people together and start networking, start it now. And speaking about Mindvalley,
if you don't yet have a Mindvalley subscription, go to mindvalley.com and check it out. Mindvalley
gives you hundreds of the world's best courses, all at a single affordable subscription fee.
Now we come to the final rule of being a billionaire, and that is: Invest in Your Growth. A
few months ago, I got to spend a week on Mosquito Island, staying with one of the most inspiring
entrepreneurs I know, Naveen Jain. Naveen shares Mosquito Island with many other billionaires, and
I was really blown away by Naveen's dedication to learning. Not just learning as in books, you see,
Naveen told me how he would wake up in the morning and the first thing he'd do is he'd scan Twitter
for new scientific discoveries. He'd dive into these discoveries to look for new opportunities of
companies he could build. Naveen not only was the first private citizen to land a robot on the moon,
but his newest company, Viome, came from one of these acts of discovery. Viome today
is transforming health by using AI to give you customized supplements for your gut microbiome,
and this idea emerged because Naveen was dedicated to reading and studying
and understanding all the latest scientific breakthroughs emerging from America's Labs.
Now, he doesn't stop there. As I'm staying with Naveen, he would have practices to keep himself
healthy and to keep himself growing every single day. We'd wake up early,
eat a healthy breakfast, then hike for four or 5 kilometers for an hour. We'd play tennis,
we used the gym. Naveen is dedicated to his health, and as busy as he is,
I notice Naveen is dedicated to his personal growth, and many billionaires
are the same. It's about dedication to making yourself better and better every single day.
I also once had the opportunity to interview Ariana Huffington, and what she expressed to
me was beautiful. She said that one of the most important things we can do for our success is to
protect our health and well-being. To have healthy eating, to have meditation or prayer, to bring in
spiritual practices, to bring in practices that let us rebalance, refocus, relax, that let us
go within, because this is so essential to us showing up to the world as our best selves.
So, these are the five practices that I think we need to look at if you want to
have a billionaire mindset. You got this, you can do this. You don't have to start with all five,
but just taking a little bit of an action step on any one of these five principles can
definitely make a massive impact on your life. By the way, if you like this video, I want you
to know that my company, Mindvalley, is organizing the Financial Freedom Summit this year in London,
November 17 to 19. I'm bringing in some of the best wealth teachers I've learned from.
Alio Badola, I attended his seminar and I was blown away. I realized how if I had attended
the seminar just 7 years before, before I put money and bought my apartment, I would have
actually made 5 million extra dollars today just from his advice. He is one of the top trainers of
financial literacy and wealth building in Italy. You'll also learn from Robert Allen. I mentioned
Robert Allen earlier. He wrote the brilliant book 'Nothing Down', he also wrote a book in 1998 that
started me on my entrepreneurial journey. It's called 'Multiple Streams of Income'. Robert Allen
is one of the most incredible speakers on stage, and he's going to be speaking there as well. And
then we're going to bring in Paul McKenna. Paul McKenna is the world's foremost hypnotherapist,
and he's going to take the audience through a belief hacking modality to shift your money
mindset and to install in you the mindset of a millionaire. All of this content is coming
together beautifully, and Mindvalley events are really world-class. We don't do too many events,
but when we do an event, it is typically something that you never want to miss.
Now, for this event, we've made the pricing really affordable. It's 400 bucks, whether you want to
watch live on Zoom or if you want to actually come to London and attend the event. All the
information is on mindvalley.com/wealth and perhaps I'll see you there.
I hope you found this video useful. Drop a comment below, share your thoughts,
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