all right so obviously there's a lot
that goes into financial success like
luck and privilege and unfair advantages
but because one of our goals on this
channel is to help you get to financial
freedom
and because it makes for a nice
clickbait title in this video i'm gonna
go over
eight habits that have helped me become
a millionaire let's go for it right
habit number one is more of a mindset
shift really and that is that most
people
don't become millionaires or achieve
large amounts of financial success
through their day job usually if you
want to acquire wealth in a short amount
of time
you have to a have multiple streams of
income and b have streams of income that
do not rely on you trading your time for
money i first came across this idea in
tim ferriss's fantastic book the four
hour work week which is really all about
how to build these multiple streams of
income in a way that doesn't take over
your life
and since about the age of 17 when i
started looking at the world in this way
and thinking that okay i need to not be
reliant on my day job to make money
i need to make money through multiple
streams of income that habit that
mindset change
allowed me to see lots of different
opportunities in the world that i might
not have seen otherwise habit number two
i call strategic laziness and this
firstly relies on us recognizing
the value of our own time time is our
most valuable non-renewable resource
it's the only thing we can't make more
of
we can always make more money but we can
never make more time and that's why
again since i discovered this book and
came across this idea um
i've been trying to do whatever i can to
optimize my time as much as possible
and i call this strategic laziness right
because a lot of the time there are
things that we can do to
automate processes that we do fairly
regularly things that we can do to speed
up or be more productive in our tasks so
people see me as someone who's like
completely obsessed with productivity
that's possibly true to some extent but
the reason that i love productivity so
much is because it ultimately helps me
save time and so if there is an app or
an automation or a macro that i can set
up on my computer that makes doing a
repeated task more efficient then i'll
put in the investment of time to set
that up because i know it's going to
save me time further down the line
the other way in which i use strategic
laziness is to really ask like what is
the point of this thing that i'm trying
to do
you know as i was going through
university as i was going through school
as i've been setting up my businesses i
always have in my mind
what is the outcome that i want and for
example in my first year of medical
school
i wasn't thinking like this i was
thinking hey i need to learn all of
medicine because that's what makes me a
better doctor
and i realized that that's actually a
not what the exam's about and b
being a good doctor is not about just
learning the entire textbook and so the
way i was approaching med school was in
a very kind of heavy lift kind of
fashion i thought it had to be
like really really hard to learn the
textbook but then from my second year
onwards for the next five years i really
asked myself okay
how do i be strategically lazy about
this how do i make sure the stuff that
i'm doing is the most efficient way of
getting to my goal
of a being a good doctor hopefully and
be doing well in the exams and i think
you can apply this habit in this general
principle to everything across business
you know often when someone starts up a
business for the first time and i
i was guilty of this myself we spend
absolutely ages making a website and
making a business card and making sure
the logo is legit
and spending hundreds of hours on this
pointless stuff whereas if we're being
strategically lazy
we recognize the end goal is to get
customers and to sell them something
and so you know fancy website logo
business card it really doesn't help
with that particular end goal habit
number three is to develop an
entrepreneurial diagnostic mindset now
this is the sort of thing that like if
you're interested in starting up
businesses which
you probably want to be because that's
the well easiest and quickest way to
get wealthy very quickly in this day and
age again it's not going to be through
your job
but if you're interested in the idea of
setting up businesses you need to have a
decent idea
for what business to set up and the
thing that dictates whether something is
a good business idea is number one
identifying a problem that people have
and number two figuring out a way to
solve the problem
and three ideally people will want to
pay you money for the solution and so
the habit here is that as you're going
out into the world and going about your
day-to-day life
you want to be recognizing whenever you
notice that something really sucks
or that there is a specific problem like
for example if at one point you thought
ah it really sucks that to order a
takeaway i have to phone up a restaurant
i wish there were a better way to do it
that might give you the idea for
something like doordash or delivery or
just eat in the uk if you had the idea
that ah ordering a taxi like really
sucks like why do i have to phone up
this company and be on hold for five
minutes
that might have given you the idea to
start something like uber or lyft and
the more you approach life with this
entrepreneurial mindset you start seeing
these ideas and absolutely everything
and i get so many emails from people
being like hey i want to make money but
i don't have a good business idea
and the reason you don't have a good
business idea is because you're not
looking at the world from this lens of
what are the problems what really sucks
out there in the world and therefore
what are the problems that i can
create solutions for habit number four
is the growth mindset which you might
have come across and the way i like to
think of this
is that everything is figure outable
often
the non-entrepreneurial minded people
will think about doing something like i
don't know
starting a youtube channel and think oh
i don't know how to do that that feels
quite hard
and it will stop them there whereas the
more entrepreneurial people will have an
idea for
i want to make this business or this app
or this youtube channel and instead of
thinking
i don't know how to do it therefore i
can't they'll be thinking i don't know
how to do it but that's fine because
i've got the internet and i can figure
it out
everything in the world is figuratible
stuff feels like much more of a black
box than it actually is
if you've ever thought about doing
something but you've been stopped by
this idea of i don't know how to do it
then the everything is figure outable
approach is a great habit to adopt which
is that your default is to google
something
and figure it out because literally
everything on earth is available on the
internet
and you can teach yourself any skill
that you want that brings us on to habit
number five which is that although
everything is a skill and everything can
be learned and you can google absolutely
anything you want
there is a point at which you can
accelerate the process
of learning or doing anything by asking
the right people
and there's a great book by ben hardy
and dan sullivan called who not how
which kind of embodies this approach
when it comes to business like when you
have a problem
you want to think who can help me solve
this problem rather than necessarily how
can i solve this problem by myself
if you're young and you're just getting
started out in business and you don't
know many people
then you kind of do have to do things by
yourself and that makes a lot of sense
like you can figure out how to video
edit or podcast edit or make a website
or learn to code or any of these things
for free using the internet but when you
get to the point where you have a
certain amount of success
or if you know people who are entered
into this business thing as well
you can really start adopting the who
not how habit which will really help you
accelerate your results because now
you're taking advantage of your network
for example with me a few months ago i
started out an initiative called the
part-time youtuber academy which is a
live online course that i've been
teaching
for two live cohorts now and like you
know i was reading the book who know how
at that time and i really thought okay
i could try and figure this out by
myself but instead i'm gonna reach out
to friends that i've made on twitter or
people
are part of my network and ask them how
they've done the same thing
and this like massively accelerated our
learning curve
for the part-time youtuber academy it
made it in like you know our first
launch was like 300 000
our second launch was like 500 000 it
made like a stupidly insane amount of
money and got really really good reviews
and i think a big part of that was that
we got the right people involved
rather than me and my team trying to
think hey let's do everything ourselves
that brings us on to habit number six
which is to make friends with people
in real life and more importantly well
not more importantly but but
additionally
on the internet and the single best way
i find for doing this is twitter twitter
is an incredible incredible incredible
invention that you can use to make
friends with people all around the world
and the nice thing about twitter is that
it's different to instagram instagram is
very sort of visual and based on posting
pretty pictures
but twitter is very much based on
sharing good ideas and if you're sharing
interesting ideas and you're connecting
with other people who are sharing those
similar ideas
that automatically leads you to kind of
becoming internet friends and then they
follow you you follow them you chat a
little bit in the dms
and over the last year i've met up with
so many people who i initially met
on twitter and i've got friends all
around the world who have never ever met
in real life but we've talked on twitter
we know we like the same stuff we share
the same ideas
and these like a this just makes life
much more fun but if we're talking about
habits to get to becoming a millionaire
i can point to
lots of these different connections that
have really accelerated the growth of my
business for example me and my mate
thomasfrank became friends on twitter
like two weeks ago
thomas frank then introduced me to
standard which is the youtuber agency
that i'm now part of and that completely
changed the game for my business
secondly there's two chaps tiago forte
and david perrell who run their own
online courses
we became friends on twitter after i
took their courses and started engaging
with them on twitter
and then i dm'd them when i wanted help
for my own part-time youtuber academy
and they really helped with that
and again that really accelerated the
growth of the business to becoming a two
million dollar business and when it
comes to this making friends thing like
it's it's one of those things that's
very hard to like if you make friends
with someone then it will lead to this
it's more like you have this general
habit this general attitude towards
making friends with
whoever shares the same ideas at you and
just generally trying to be a nice and
helpful person and you know that
eventually that will lead to really
interesting things happening in your
life further down the line
on a somewhat related note habit number
seven is reading a lot
and just like we can get wisdom from our
real life and our internet friends via
twitter
we can get a lot more wisdom from people
who have written books about stuff
you know like if you speak to any one
who's
like successful in almost any way they
will all they will almost always say
that
they read a lot of books and they will
also almost always say that
everyone else that they know who's
successful also reads a lot of books
so if you're telling yourself i don't
have time to read then you're kind of
screwing yourself because you know
basically every millionaire you ask will
have spent tons and tons of time reading
books and again the great thing about
books is that you've got like you know
five ten twenty years of experience that
someone has boiled down to
a thing that takes you a few hours to
read like tim ferriss was doing the
entrepreneur thing for like 10 years
before he wrote the book that's pretty
sick that's 10 years of wisdom that you
can read in a few hours
and if you read lots of books of this or
entrepreneurship like business finance
like any basically anything you're
interested in you can just get a huge
amount of value from them
and it doesn't really cost very much you
can find pdfs on the internet for free
if you're really averse to paying for
books if that's if that's your vibe
and it's just like such a great way to
accelerate your learning in almost
anything if you didn't know i am also
writing a book which is probably going
to come out in two years
time but i'll put a link to my book
mailing list newsletter which is like
where i share my book journey and what
it's like to write and research a book
and sample chapters and getting the
audience's opinion and stuff so that'll
be linked in the video description if
you want to check it out and finally
habit number eight for becoming a
millionaire is to acquire
financial literacy now this is one of
those things that
like no one teaches us in school or
university or college
but it's just one of those things that
you have to learn for yourself and you
can get it through reading books such as
for example
this book oh crap the psychology of
money by morgan housel which is now a
little bit dilapidated i read this
recently it's really really really good
20 bite-sized lessons about money gonna
make a video about that
but also just like generally taking
taking your financial life into your own
hands
i know so many people who have sort of
relegated their financial
life to you know oh it's just something
that the government will sort out or oh
you know
my hospital will figure out what taxes i
need to pay and then i'll just kind of
do it from there
you know this like money is such an
important part of life it's one of the
biggest sources of stress in anyone's
life
if you don't have much of it and so much
of our life is spent in the pursuit of
money and financial freedom financial
independence
that if we don't have financial literacy
if we don't understand the basics of
saving or investing or how the stock
market works or how taxes work any of
that kind of stuff again we are just
screwing ourselves because if you want
to become a millionaire you have to have
some level of financial literacy to know
what it takes to become a millionaire
and how that might actually work so
recommend reading a book like the
psychology of money by morgan housel or
if you like you can check out this video
over here which is my ultimate guide to
investing in stocks and shares that's
like a half an hour long crash course on
everything you need to know about
investing if you don't know about
investing definitely check out that
video thank you so much for watching
hope you found this video useful and
i will see you in the next one bye
you