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The big struggle is people hustle out of necessity. They don’t hustle for the love of something. It is running away from something like not paying your bills on time or other bad outcomes. That’s what is driving a lot of people and that’s the problem.
There were a few questions people had about Hustle Camp. It’s a 30-day boot camp. It’s very intense. The price is not going up for at least 30 days.
Part of the struggle is a fundamental lack of understanding of how money is made. I’m going to mention something and say something crazy. With this current healthcare thing, you are going to have healthcare professionals laid off in so-called recession proof jobs. Part of that is because a hospital is a very cash intensive business in terms of the properties and the personnel.
If you understand how money works, that outcome makes sense to you. If you don’t understand how money works, you’re saying, “That dude is crazy. Nurses aren’t getting laid off. Police officers aren’t getting laid off. Firemen aren’t getting laid off.”
Let me explain. Once again, there are healthcare and government municipalities that don’t have a performance to profit motive, which means you stay in business even when you aren’t efficient. In the case of hospitals, that profit motive is being hit very hard.
We’ve got this situation where so many people have what I call “blue sky” opinions about how much money is made by Internet gurus and it’s just not true. If you’re struggling to make money, you don’t understand how money is made. That’s the big hurdle. That’s what we’re going to talk about in Hustle Camp.
If you don’t get past that boundary, then all the money you make from a job or a hustle goes to sustain you. There is no money for thriving. I know one of the big searches here on the internet is, “How can I make a lot of money fast.” That’s what people want to know, because they need it. That stuff will perpetually keep you in hustle mode. From that mindset, it’s going to be super, super hard for you to build something sustainable.
Let’s talk about going from $0 – $100,000 and why it’s important. You can’t make $1million until you make $100,000, except in cases of a super rare event such as winning the lottery. That’s the big gap. The first barrier is $0 to $100,000. The second barrier is going from $100,000 to 1 million dollars. Once you cross these two barriers, things become very interesting.
If you’ve never made $100,000, that seems like a lot of money. There are many couples who make $100,000 who are struggling. If you’re making that income, you are losing $30,000 to $40,000 to taxes right off the top, depending on where they live. That leaves you with $5200 a month. When you factor in health insurance premiums and 401K contributions, your income drops to $4,000. That’s not a lot of money. You have to reframe the way you think about money.
Take a pen and paper and write this down. $100,000 is not a lot of money. We’re going to discuss a path to get you past this point in Hustle Camp. There will be a manual.
This is a path I took. It happened because I was busy. I’ll tell you the story. This was about six months into the storage auction business. I looked at my bank account one day and I had a lot of money in there. I had about $120K in the bank. I remember thinking, that’s nice, but now I need to get back to work.
You’ve got to get that kind of mindset. You have to keep doing the thing that earned you that money so you can continue to make more money. It’s not time to celebrate. That’s the first stage.
I’ve been through that experience of working very hard and not being able to enjoy the fruits of my labor. If you’re trying to outdo your neighbors or look good on Facebook, your tank is running on the wrong fuel. You’re going to run out of that stuff one day and it’s not going to be important to you.
You have to find something that will propel you to get up every day and do the things you need to do. Success is not really complicated. It’s all about doing the same good stuff over and over again.
Because of things that have happened in my life, I have a sense of urgency. After almost dying myself and watching my partner pass away from colon cancer, I realized you don’t have all the time you think you have. If you haven’t experienced these types of events that force you to see life differently you often believe you have all the time in the world.
One of the things you have to understand on your journey is that you’re prepping yourself for something bigger. Earning $100K isn’t the end goal.
I’m building stuff slowly so it can be more evergreen. I’m dealing with the tactics and principles that don’t change. People rarely change. We have evolution, but that’s some slow stuff. If you deal with people the way they are versus how you want them to be, you are going to make more money.
So many people honestly believe they can come online with no experience, no money, and a poor work ethic and make six figures in a snap. That is a very common belief. But, that’s not normal. Typically, it’s going to take two to five years before you get to that point where your business will support you.
I had more mental blocks than talent blocks or opportunity blocks. There were things I didn’t think I could do. I became real about my success. It was a hard transition.
When I was in the boarding house after I got laid off, I was talking to myself. I didn’t like myself. I didn’t like the situation. I didn’t like where I was in the world. The economy was good at the time, but my mental economy wasn’t good.
In high school, they used to teach you how to write up a budget. You would write up all of your expenses and then what was left over was your disposable income. One of the many things causing problems now for people is that the credit ratios have changed, allowing people to get into debt that they can’t realistically afford to repay. The recession is here. It hasn’t grabbed everybody yet, but it’s already here.
This is how you build a business. I think you have to hustle first to get an extra $500 to $3000 per month to help you settle down the turmoil in your life. You are not going to start a business when you are stressed out about bills. It’s not going to happen.
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