These Rules Made Me So Rich I Questioned the Meaning of Money

The Martell Method w/ Dan Martell

Dan Martell

Entrepreneurship, Business

4.9 • 628 Ratings

🗓️ 31 May 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

▸▸ Get My New Book (Buy Back Your Time): https://bit.ly/3pCTG78

Back in 2009, we had a major issue that we had to solve in the business.

And when I asked my business partner, Ethan, to meet me in the office, he said he couldn't...

Now, we’d just raised a million dollars from some of the top investors in San Francisco, we're building up the team, and we ran into an issue with our product.

So I asked him "Why can't you meet?"

And he was like, "Hey man, I've got to get some laundry done."

I'm like “Okay I know it's Sunday, but you can do your laundry on any other day.”

He said “Yeah but I got a plan, and if I don't do it…” da da da da.

So I told him “There are literally three different laundromats on your way to work that do wash and fold.

They'll do it for like $35.”

He’s like “Yeah, man I'm not really paying myself enough. I'm barely making rent.”

Here's a situation where we just raised a million dollars to build the business…

And he can't come work on the business because he's too busy doing LAUNDRY.

Crazy, isn’t it?

He’d rather trade his time for a few extra bucks than trade a few bucks for extra time.

Most founders start like this. I did too.

But the wealthy spend money to save time.

Once I've got that time, I invest it in acquiring new skills that allow me to become more valuable.

Then I get to make more money to buy time to invest in more skills.

That is the way it works.

This is just ONE way the rich think differently about money.

And if you want to be truly wealthy…

There’s a whole bunch more you need to know.

That’s why in today’s video, I’m sharing the 14 rules of money that made me so rich I questioned the meaning of money.

Instagram: @danmartell

Twitter: @danmartell

Transcript

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0:00.0	I'm going to share with you the rules that made me so rich that I questioned the meaning of making money.
0:04.9	These rules are what allowed me to go from a broke 22 year old to a multi-millionaire today.
0:10.0	Some of these rules I picked up on my own during my 26-year career as an entrepreneur,
0:14.5	and others I learned from some of the highest net worth individuals you probably know.
0:19.2	So without any further explanation, these are the 14 rules of money.
0:25.6	Welcome to the gross stacking show.
0:27.5	This is Dan Martel.
0:28.8	If you love to read, my new book is out, Buy Back Your Time.
0:32.2	You can get it on Amazon or any other retailer where books are sold or buyback your time.com.
0:37.8	It's going to help you build a business. You don't grow to hate. Buy back your time.
0:41.9	If you read it, I would love, love, love a review on Amazon so it could help it get in front of
0:46.2	other people just like you. So let's get in this episode.
0:52.3	The first rule is kind of obvious, but it's to spend less than you make. You know, Dave Ramsey likes to say, act your wage. And I love that. Think about it. It's what you make, but you got to act proportionate to what it is. It's not your salary that makes you rich. It's your spending habits. You know, my dad used to say it's not what you make. It's what you keep. It'll
1:11.4	make you rich. When I started off, I was a horrible spender. I remember I was just trying to kind of live life. I never thought I'd ever have money. So when I started making money, it was a bit carpe die. You know, seize the day, yolo. Remember at 21, I got a check for almost $20,000 for working a month.
1:27.7	I was a consultant.
1:28.6	I was on contract.
1:29.8	And it all showed up in my bank account. Remember at 21, I got a check for almost $20,000 for working a month.
1:27.7	I was a consultant.
1:28.6	I was on contract.
1:29.7	And it all showed up in my bank account.
1:32.1	And my little brother, Moe, showed up.
1:33.6	And I said, hey, man, let's go on a ski trip.
	...

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