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We need to get down to the definition of what wealth is. I’m going to give you the real deal on what wealth is and is not. Wealth is assets you have that produce more assets. Assets can be cash. Assets can be a building. Assets can be many things.
If you’re wealthy, you have something that creates income. If you don’t have these things that create income, you’re just rich. What is rich? I’ve been doing this research looking for what everyone is looking for. Everyone is looking for how to be rich. They’re not looking for how to develop wealth. There is a big difference between the two.
If you have a lot of money or a high-paying job, or you’re an entertainer or you make movies or something, more than likely, you’re merely rich. You have a talent, skill set or something, where people will just throw a lot of money at you. But, you’re not wealthy.
The thing is, once that talent goes away or you get older or something, you no longer have a way to make a lot of money. Whereas someone who is wealthy, they can be in a wheelchair and still make more money that you do. Right now, I am about to give you the keys to the castle. The fastest way for you to become rich, which gives you the tools to become wealthy is through business ownership.
This means you go out and create a business. You go out and you serve people. You make money three to ten to a hundred times faster than someone with a job. Since you’re making so much money, you have enough to live a good lifestyle, then you can take some more of that money and create tools like real estate, more businesses, and investments so you can become wealthy.
This is how you will make your kids millionaires. The first step is money management. You must manage your money or your money will manage you. The second step is to increase your income. The third step is to get experience.
I know many of you want to jump to step two and forget about step one. I had a conversation with someone this morning about this. If you go ahead and get experience and increase your income and you don’t learn money management, the chances of your kids being wealthy are slim or none because you’re going to blow the money through mismanagement. You may develop an addiction. You may have a lot of nasty things that will happen because of this absolute refusal to put yourself on a budget.
This isn’t about you. This is about the family and generational wealth. If you want to do that, you’ve got to learn money management.
We’re going to talk about how Hustle Camp can help you do that. These are the very things we talk about first and foremost. Money management, increasing income and gaining business experience are the tools you need.. You want to be all about business development. One of the things that happens on the internet is that everyone is looking for income for lifestyle which is a very narrow thing.
If you give more than what you’re getting, you’ll get more. Now, what do I mean by that. If you create a business, you hire people, you serve customers, and your footprint of service in the world increases. Your income is going to automatically increase. But if you go after the money and you don’t want to work that hard or do too much, you can still make money. But you’re not going to get wealthy.
You’ll end up as a high-income hustler, which is cool. But at some point, that’s going to get old. Part of business development is finding a market, or there’s something in you that you want to give to people that is valuable and they want to pay you for it.
Business development is figuring out that marketplace and creating processes and systems in your business so it can scale. That takes time. That takes effort.
If you do this, two things happen. One – you learn how to do it. Two – your kids who live in the house with you are learning these lessons. This is what many affluent people have learned. There’s been this person in their life doing these kinds of things and it kind of rubbed off.
But if you’re just out there getting money, partying and hanging out, this tactic will not work if you’re trying to build something that will last. Right now, I’m about to give you the blueprint. The first thing you have to do is money management. The most important thing after money management is skill development. If you have no skills, you cannot build your business. If you have no money management skills and no money, you can’t hire people to build your business.
Once you have some business expertise, you can go out and develop your market. When you have a goal that is much larger than yourself, things change. Your strategy changes. Your business choices change. How you live your life changes.
There is so much training out here on the internet. It works. You can buy a course or an app and apply them and you’ll make money. You can hustle and also have an anchor business. What I mean by that is you have to make some firm decisions about some of the things you want to do in life.
It can’t all be fun and games. It can’t all be about passion. It can be something as simple as a drycleaner. It can be something like a car wash. It can be a grocery store. There are a lot of things you can do. They’re going to require that you think much bigger than yourself, because most of these things take time to take off. One to five years is very fast. Two to five years is more normal.
Once you stack up some assets and you’ve built that business to a level where it doesn’t matter what you do, then you are wealthy. That’s the thing you can do for your kids. You can become a high-income earner, then create the blueprint that will enable your kids to become millionaires.
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