- The three decisions that will change your financial life.
Decision number one:
Who are you gonna learn from?
And who do you hang around with?
My martial arts instructor said something to me
very profound, a few years ago, he said,
"As a martial artist, Dan,
"what determines how good you are and how fast
"you will progress as a martial artist
"is not just how many hours you put into your training,
"and what style that you practice.
"What determines how good you become is your sei-fu,
"your instructor, and who you learn from."
Now, at first I didn't quite understand.
And later, after I studied with him, I trained with him,
my martial instructor, I realized,
wow, what a profound statement.
Because think about it in a martial arts context.
Imagine if you wanna learn different martial arts;
you wanna learn Krav Maga, you wanna learn Tai Kwan Do,
you wanna learn karate, you wanna learn boxing.
Whatever style, or MMA, whatever style that you decide
to choose, your instructor will dictate,
will determine how good you are.
Your coach, their skill that gets transferred to you.
Think about that.
It's the same in your financial life.
Who do you wanna learn from?
Realize, when you learn from somebody,
when you listen to their advice, you become them.
You get their lifestyle.
If you listen to your friends, your family,
are they financially well off?
Are they struggling financially?
Remember, you take their advice,
you get their lifestyle.
Mahatma Gandhi said it best,
"Your beliefs become your thoughts,
"your thoughts become your words,
"your words become your actions,
"your actions become your habits,
"your habits become your values,"
and ultimately, "Your values become your destiny."
So you need to decide exactly
who do you resonate with?
Who do you wanna learn from?
Who do you wanna hang out,
who do you wanna spend time with?
Very, very important.
The number two decision that will change your financial life
is decide exactly, what do you want?
What do you really want?
When people come to me and say:
Hey, Dan, I wanna make more money!
I always say: Here you go, here's a dime.
You just made more money.
You see the problem with an answer that is that big?
It doesn't give you power.
It doesn't give you clarity.
So it's not just about, you know,
I wanna make more money.
How much more money exactly do you wanna make?
And also, I always say, it's not just how much money
you make it's how you make the money.
What would you do for money?
What would you not do for money?
Where do you want to live?
Do you like a big house?
Do you want a townhouse?
Do you wanna live in a condo?
Or do you wanna live in a penthouse?
What kind of car do you drive?
It's not good enough to just say,
oh, I wanna drive a Mercedes.
Exactly what color?
What model?
What upgrades do you want?
Let me give you a perfect example:
I've had multiple opportunities come across my table
where it would require me to go to Asia
and do more business in Asia.
Multi, multi, multi million dollar opportunity,
but in order to do that it would require me
to maybe stay here for six months in Canada
and then go to Asia for six months,
or a lot of travel back and forth.
And I asked myself, hmm,
the money is good,
but does it fit my lifestyle?
Is this something that I want?
And I said, no, that's not something that I want.
I prefer to stay home; I don't wanna travel as much.
So there you go.
What I will and what I won't do for money.
Where do you wanna travel?
How often?
What hotels do you wanna stay in?
What kind of charities do you wanna help?
Who do you wanna help?
What kind of investments do you wanna own?
Do you like real estate?
Do you like stocks?
Do you like bonds, mutual funds?
Whatever it is that you wanna invest in, that's clarity.
You cannot act and you cannot take action,
you cannot improve your financial situation
if you don't have clarity.
Lack of clarity means lack of power.
And power is the ability to take action.
Extreme clarity leads to extreme results.
The third decision that will change your financial life
is this: Decide what price are you willing to pay.
There's always a pay/price to action.
Everything you want in life, it has a price.
I remember the first five years
when I was building my empire, building my business,
the first five years, I was working.
I did not take a single day off for five years straight.
I was working every single day, 12 to 14 hours.
I remember, there were nights where I actually,
literally worked till exhaustion
and I fell asleep on my desk.
That's the price that I pay.
While all my friends, they were drinking, partying,
watching sports games and chasing girls.
I didn't do any of that; I was focused; I was obsessed
because I was willing to pay for the price for success.
I was committed to spending a few years
doing whatever it takes,
doing things that other people are not willing to do,
making sacrifices that other people are not willing to make
so that I could do what I wanna do for the rest of my life.
What about you?
How bad do you want it?
What's the price you are willing to pay?
You see, success has a price.
And here's the thing: There's no easy payment plan.
There are no installments plan.
You must pay that in advance.
Well, then the next question you have is:
Well, Dan, how do I know that I've paid enough?
It's actually very simple:
You know you have paid enough,
you know you've paid for the price of success
when you accomplish success.
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And remember, the decision that you make today
will decide where you go in the future.