340: Why 97% of Creators Are Broke (And How to Fix It)
The Think Media Podcast
Think Media
4.9 β’ 862 Ratings
ποΈ 20 August 2024
β±οΈ 61 minutes
ποΈ Recording | iTunes | RSS
π§ΎοΈ Download transcript
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Transcript
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| 0:00.0 | Do you want to get your first or next 1,000 subscribers faster? |
| 0:04.0 | We are hosting a free one-day event where you will learn a proven seven-step system for YouTube growth used by thousands of creators. |
| 0:13.0 | To register, just go to Video Growth Day.com or click the link in the description. |
| 0:19.0 | Now let's jump into the episode. What are the biggest money |
| 0:22.1 | mistakes you see people making? The first mistake is actually believing that your business is your |
| 0:26.8 | wealth. I believe that a personal brand, if we're not careful, becomes a personal burden. |
| 0:31.6 | You have productive debt and you have destructive debt. Destructive debt is for consumables, |
| 0:36.0 | but there is productive debt. It is debt |
| 0:38.1 | that if you don't enjoy the path to financial freedom, you will not enjoy the destination of it. |
| 0:44.9 | In an ever-changing environment, whether it's technology, AI, or if I want to get paid more, |
| 0:50.7 | skill up. 10,000 millionaires. 79% of them were first generation millions. |
| 0:55.3 | This idea of leverage is something I talked in the book. |
| 0:57.9 | It's called The Five Incomes. |
| 0:59.1 | It starts at the active level, but the money machine is the top three. |
| 1:03.6 | Many content creators and business owners are making broke money mistakes. |
| 1:08.7 | And today on the Think Media podcast, we're going to be talking about how to earn more, |
| 1:12.7 | stress less, and reach financial freedom faster. My guest today is Mel Abraham, who's a best |
| 1:20.4 | selling author, CPA entrepreneur. He's built and sold multiple different businesses. |
| 1:26.3 | He advises all kinds of top experts. And he has |
| 1:30.3 | worked with and spoke on the same stages of people like Brennan Burchard, Ed Milet, Amy Porterfield, |
| 1:35.8 | Tony Robbins, Shaline Johnson. And in his new book, Building Your Money Machine, he really talks about |
| 1:41.2 | how to get your money working harder for you. And this applies if you |
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