5 Steps to Becoming a Millionaire - Grant Cardone Trains His Sales Team LIVE

I'm getting ready to go in and do a meeting for my sales team They're on the phone every day. They think I'm going in there talk about sales I'm going in there talk about money because if you don't have your money, right if you're not thinking about money correctly. Guess what?

You're never gonna make a sale. You're never gonna push through the objections and the barriers and the hang-ups and Everything that goes on the sales a disappointing job. It's a tough job.

It's a crazy job. It's like being an actor Okay, why would anybody be an actor after they go on 100 auditions? Nobody ever picks them and they're like I'm done.

The only reason you want to do that is because you want to be a superstar Okay guys, so this is what I want to do. I want to talk to you about money today not sales If you don't get the money, right, you're not gonna make the sale period okay million dollars a million dollars Peter Thiel 2. 8 billion dollar Peter Thiel said the single-digit millionaire You know what?

That means god with $1,000,000 or 2 or 3 or 4? Cannot even provide his family with proper defense legal defense in America much less much less Emergencies divorces, you know major lawsuits business lawsuits issues happening to kids going to college So what he's saying is this ok, it become a very very controversial article because he's like rich dude Scratching fingers on the chalkboard, this slides. Okay, he's saying hey man, if you got a million dollars, you're basically just a freakin deadbeat And that your daddy didn't tell you that your daddy's like oh man a million dollars a million dollars you and the money So what I want to do is I just want to, I'm gonna show you today how to get through all this rejection and disappointment Discouragements the hangups, you got to change the way you look at money.

This is not money right here. Okay This is not money. This is just dumbness This is you not make a decision This is you being lazy saying man a million dollars Then I'd be set just do the math on a million dollars.

I did this when I was 34 years old million dollars if you didn't have any more income and you were How old are you? 27 years old and you didn't have any income a million dollars a Million dollars. What does that say right there?

Oh no income, zero income You're 27 years old. I'm gonna do this at 47. I'm gonna do it at It's 65 Okay, 27 you don't have any more income how long would that money last if four thousand dollars a month You got 25 years Where can you live on four thousand dollars a month by the way four thousand a month assumes No other income social security systems broken Medicare is broken because they are already it's just a matter of when probably gonna happen in most of your lifetimes You'd have to live on four thousand dollars a month for 25 years.

You will be 52 years old my friend and dead broke Okay, four grand a month, four grand a mounth is is is what thousand bucks a week You're spending probably $900 a month on groceries 20 what's your rent? 3,000 You got like 12 years left and you're a millionaire. Everybody's like, oh my god, the iconic millionaire.

You're wealthy You're not wealthy dude, you're worried is what you are. Okay, because you don't have new income So so watch what happens what if what happens if there's an accident a major car accident? Are you married?

Okay married kids Okay, the two kids will cost a million five each to get through college So you're busted you understand. So when you come to work in the morning, you're like man I need to make 80 grand this year I need to make eight thousand or ten thousand you guys got to change or think on money Like if you want to make real money if you're 47 years old you have until 62 to live if you're 65 years old by the way, and Anything bad happens like anything you lose a job. You lose your income If there's any inflation this this equation right here doesn't assume any inflation assumes everything stays the same in this rent never goes up It's car payments.

No gold. Nothing goes up. It's impossible.

It's an impossible cycle the problem is nobody talks about this because nobody wants to go on TV and say hey millionaires are basically middle-class people that are worried about money So when I did the math at 33 years old, I'm like do I need a lot of money? This is where the whole 10x concept comes up from. All right Hey, man, what if what if it took 10 million, by the way, I think that's the number CNBC says it's 5 million I think the numbers really 10 million ok, 10 million with no new income You could probably live The life you wanted to so how would you get that if that's the number cuz this is clearly not the number Everybody agree with that by the way, if you make 40 grand a year for the next 25 years You're gonna make a million dollars anyway.

You're gonna make the money if you make $80,000 a year every time you double this you cut the years this takes to twelve and a half years if you make $160,000 a year it takes you six years right or you could just go make a million bucks in a year So you got to do the math if you hadn't done the math if you're going for the wrong target I'm always talking about targets in here. Do you you and the husband you and the wife need to get the target, right? We're talking about.

Oh, man. I love this new car You you I'm gonna go buy a new car like Sisler will go by imma get a new car, dude Your attention needs to be on this. This is the target.

It's not the watch. It's not the car and it's not the vacation It's freedom 67% of wealthy people's surveyed said they weren't going for wealth for cars and boats and trips they were going for the freedom of Worry to not be concerned about money every day. I want to be concerned about my kids I want to be concerned about you know, what we do when we're when we have time together I want to be concerned about how happy I am in my marriage.

I don't want to be worried about Pieces of paper that I don't have enough of or where it's going or what things cost That's why you're making these phone calls. Okay, so now what's the target? Because if you're just in here making phone calls saying hey, I'm gonna make I'm gonna make a call I'm gonna make a close.

All you're gonna do is get me rich I'm already rich okay now and I started with zero just so you guys know I didn't have anything so when you're sitting there on the phone thinking How am I gonna get to there you can but you need to stay focused. Okay? So number one thing you got to do is this you've got to change the target and you need to look at the target daily The target you have the wrong target right now, if you're struggling you have the wrong target When you change the target everything changes?

Right so that when I'm talking to a guy You're contributing to my 10 million every person I've ever sold I treated like an investor this guy is going to invest in my future. He's gonna pay for my college. He's gonna buy my shoes Every time I'm on the phone Somebody's paying for my shit right, so if I want to go on a trip I want to go on a trip and I want to stay in a house that cost 25 grand a night Other people paid for that that's other people's money So you don't need to wait to be a bank to get other people's money Right, the money that I put in real estate that is other people's money.

I'm putting in real estate People I had a guy yesterday say man. How can you put 60 million in a deal dude a mine? Say what do you mean raising on?

No, no, dude I went and sold stuff people gave me money and I put it in the real estate Which is part of this equation number one the target number two, you need to get your income to a place This is a fascinating concept right here. Okay, you can do this I guarantee you'll be rich you need to get your income not to what pays your bills but to where you can say 40% of your gross income is saved Okay, you want to talk about something difficult this is way more difficult than that if you can do this You will get that All right, so when you sit down and do the math what would it take for you to say 40% of your income So watch what happens? if you make $10,000 a month and You want to say 40,000 of it you would pay yourself.

First. The government doesn't let you do that. They don't trust you They're like no no get that money from him first before he blows it.

We know he's going to blow it okay, we know the IRS is gonna take they're gonna withhold probably 44,000 of it. So look if you'll pay the freakin IRS four grand of ten You need to figure out how to pay yourself for gram. What's the problem here?

You got a live one two So just keep doing the math. Now. This is the math you need to do with your spouse You need to keep working it out until you're like he's like, let's go buy a new car Yeah, we ain't got any money for a new car.

That's why when I was 35 years old No one knew that I was a millionaire Nothing had changed. I was still running with shit shoes, you know buying $40 shoes and and and working a shirt out as long as I could and like Nobody saw I didn't have fancy cars. I'm driving a Camry but a million bucks in the bank Because because I was using this, okay, I paid the IRS.

I've always paid those bastards All right, and then what I did was I'm like I'm a bank four grand and then I realized yeah I can't live I can't live on two It's make it's making my life hard to do this this money, by the way, a better a better word for saving is storage I was storing storing money not saving money. I'm storing it. I'm stockpiling if you like that word better.

You don't want to save money It's worthless. It's like saving a legal pad a legal pad is only good if you use it Money is only good if you use it, you haven't how many heard this term cash is king. It's worthless cash is worthless It's not a king It's no king, dude Like like cash is not king cash is shit It just sits there and dies Are you losing if you if you leave money in this storage account too long?

Guarantee you it will disappear it always has in your life. If you look back over your life the longer this money sits in storage Pablo Escobar will see the drug King. That was his biggest problem mold bugs somebody steal it rats You don't want to you don't want to leave it in storage too long because it's going to zero all cash goes to zero All right.

So now now when you do this math you like dude, how much money do I actually need? Let's kick this up to 20 grand at 20 grand what happens? You're saving 8 storage you're paying 8 and Now you can live on four.

See? Now his is the right way to do a budget You make 30,000 twelve is going to storage twelve is going to the I, R and the S and At leaves you at six. So now you can start seeing you got to be somewhere north to 300 grand a year This is what they don't teach you at Harvard you got to be somewhere north to 360 a year before you even have money to live on unless you're just You know your Trek you're just the irresponsible human being that that's You know not putting stored money away for the future Okay.

Now you're saving 12 grand a month. That's 144 thousand dollars in one year in 10 years That's 1. 4 million dollars in ten years.

You're a millionaire stored Okay. So second thing to do you got to you got to you got to keep playing this 40 percent game Todd you need to work with your guys on: "dude, here's your money yet? " Not on what the call is not on what the script is not on what the handle the objection you need all that But do you need the driver here?

You guys need to be heavily money motivated from a survival standpoint. Okay number three thing You're gonna do you're gonna go broke right here and invest The storage Storage has to get invested The Golden Goose is only good if she lays eggs Otherwise you can kill her either for chicken Need a a money needs to make babies, right? So your goal right here is to invest to invest the storage money and Continue to do that until this money over here the passive money is equal To Your income Tough game man Right.

So what would I do? I'd go out. I'm gonna make 30 grand.

I'm going to store 12. I'll pay to IRS I'm gonna live on six In Miami, you're like there's no money left over But there's six grand in storage right now six grand six grand keep pumping the six keep pumping it keep pumping it until you find a place where you're like, I'm gonna invest this money now when you make this move right here do not Invest in anything that is a maybe Okay, you don't want to put your money in anything. That's You can't risk this money Warren Buffett says don't lose money number one number two don't lose money I Would tell you number three don't lose money so what can you invest in you can't leave it in the bank because that's losing money They don't pay you anything takes you eight hundred and thirty three years to double your money at the bank today eight hundred and thirty three years To double your money at today's Bank rates So if you guys don't know this you need to start looking at this and hey at night man What am I doing?

My money man confront the beast Right. So right here the the passive income your target right here should be my passive income now exceeds My monthly income you just need to do the math on how much money would I need invest it Right So that this this $12,000 I've been throwing his storage over time Jed where you at aren't you don't you exceed your income right now? JED: Passive income is about eleven grand So his his monthly income exceeds his salary that's what you're looking for right there Not not his whole bonus and everything at the end of the year But his monthly income from the investments now exceeds his income his that made you more or less motivated Extremely Motivated So so he used to be like oh debt man if you got enough debt then you'll be motivated No, you're not.

You're gonna be motivated for a little while to pay your car. And then you're gonna be like shit this games No fun, dude It's a terrible game Alright Okay. So look, it's simple target.

What's your new target? Freedom? Yeah freedom, but but but let's put my number one Your first target should be ten million dollars and nothing short of that and Everybody in the room can do it, okay I can I can show I can show everybody in the room somebody on this planet that came from your situation That's bank ten million dollars You don't need a degree.

Oh, yeah, I can show you for every case bad problem You got I can show you somebody you trade problems. So you'd be like no. No, I'll keep mine.

You keep yours Second thing you got to get your income to 40% You got to get your your income to where? You can bank 40% of your income This is the most difficult part of this in the beginning Because you're starving here Until you confront the real problem. The real problem is income Third thing is this money.

You need to stay broke with this money You need to get this money in a sacred account somewhere where no one is going to Jack with this money I remember my mom called me once you suck. I got this thing going on on my Campion. I Had a bunch of money sitting aside It's just like is this piling up can't help you?

I'd violate my policy here Okay, let me go sell something. See if I can get you some money Like, you know anybody came to me for help. It was like I'm not you got I'm not the bank can't help you, dude I got my own shit going on here.

I'm busted all the time. I'm broke all the time This is what I got on me today Okay, like I'm piling up everything right now to make a net make another deal Right. So I want that's what it means by being broke.

It doesn't mean get money blow it. It means get money store it Okay, find a place that's gonna go where you don't lose the money number three don't lose money Cars don't bomb Lisa Okay, where you live don't own it rent it Don't own anything dude just stack cash and Wait till you can put it in something where it won't be lost. It just goes away for a while and inflation Over time five years seven years ten years.

When do you look I'm like, okay. I didn't lose my golden egg That thing is protected I got a little trip every month from it and you keep adding to that so the drip gets bigger and bigger and bigger and bigger and Then you can come to work on Monday and say dude. I've got money coming in here I've got money coming in here, but I'm broke all the time So I got to keep replacing the game, you know when you get off the treadmill Whatever you want it once you get to there Okay questions Is there a certain amount of storage that you should have before you move it Anybody saying hey come come you can jump on my vehicle.

So I was trying to store enough to You know, if you know the story about the real estate deal first real estate deal. I did was seventy eight thousand dollars It's because I had five grand my next deal would be three years later and it was three hundred fifty thousand dollar purchase So I was storing money the whole time until I found the right deal in between. I was just shopping Now if I'd have had somebody they said to just lay on my deal I would have been pushing money there the whole time I would I didn't need to own the whole first deal I just needed to be in the right vehicle a Steve Ballmer, uh He was a partner with Bill Gates and Microsoft dude.

The guy's one of the richest guys in the world He didn't own the company. He was a partner in the company So you don't you need a vehicle you need two vehicles? You need one that produces income so you can pay the bills over here and pay the IRS and eat That's that's the one you're just you're serving.

The the basic needs from your job. The second one is to play The second one is how you get the financial freedom So you what you're looking for while you're here's any little any little Streams and rivers and canals that get bigger Right. I'm looking for like like if you look at where villages are on this planet They're all where there's transportation routes the bigger their transportation route the bigger their stuff moving up and down the Nile Oh, let's put a village here because there's food stopping here gas stop in here, right?

These are the valuable ports. Why because All the water weights meet there. So at this company I could be on the call forever Make them one call.

It's one line writes one little fiber optic line, or you could start looking around saying dude Where's all the other flows here? Right, so you've got you go tinker in this little stream tinker in this little stream tinker in this one and you take on more Responsibilities you're like hey, I want a bigger vein here Where all the flows come together, but you're not gonna do any of that until you get great at what you do you got to Get great this first thing keep the target in mind. Okay, see if you can keep it Maybe you can maybe you just lose the motivation I can't do this and Then and then you just get recycled into the universe of people that are worried every day and that's the reality the situation that's what Peter Thiel was saying a Single-digit millionaire cannot even provide themselves with their own Personal defense in America.

Okay, Hulk Hogan all that money Hulk Hogan made. He blew it all He blew it off probably buying hair pieces Okay, he blew it all he blew it all ended up with a little money thought he was the shit. Oh, man I got a little money until he had that frickin lawsuit and then he can't even defend himself Peter Thiel funded that lawsuit for him Right, so I had a lawsuit back in 2009.

It cost me 200 grand a month To defend myself against a criminal lawsuit a guy that sued me trying to get money from me to hold him hostage That's the game in the legal thing. It wasn't a car accident. It wasn't cancer what my mom getting sick It wasn't kids.

I didn't have kids yet, you know, so all those things can happen - they're probably going to happen to you Yeah, how do you balance the paying the debt whether it be school loans credit cards everything else along with the four did Not chase the pass So if I made a bad deal, I'm not gonna go chase that deal today I call him up and say put me on hold. Aughh Okay, I would pay it if you want to cut it back to like 80% Or we got to put it off And I wouldn't mind if my debt was bailed not my credit was bad wouldn't but wouldn't matter to me if it lowered my credit Score. I ain't buying anything anyway I don't need credit doing anybody anything.

I'm stormed out Right, so I wouldn't worry about that when you're talking about making so much money per month and saving the forty storing the 5% yeah should I lower my the way I'm living right now until I can Until I can do that. Well, well notice how I know. I'm supposed to focus on the income first thing I paid was to I paid me first.

I paid the IRS second just because I have to And then I got leftovers So you're gonna either you're gonna either Todd's gonna either live on the six Or decide fuck man. I got to make more money man. I can't I can't treat the people.

I love like this So what happens is Jarrod just gets more productive. Remember Jarrod came here. He was making twenty five hundred bucks a month That was his draw for three months, or did you have a draw back then?

Yeah, okay So like he's not making 2,500 now now he's making eleven grand a month off The income that's been in five years cuz he had a plan Guys that are in their 40s. Yeah I feel like I'm up against the time, but I'm making the most amount money I've ever made working with you And I feel like that number to store right now is too low for me. I feel like I'm running out of time You just need to do the math on you You need to do the math on you get busy and talk to more people everybody you're talking to has money These people are gonna fund your target you're not funding your target.

This is not your job to fund your target Your job is to talk to people that will fund your target and to get your spouse to fund the target I got Elena on a phone call yesterday Doing the show the genie show and I'm like, hey, here's a list of people She didn't know she's about to do this start calling her shit. My sales teams called them Natalie's called him I've come you call him now a damn man. How about throwing in a little bit?

She made four phone calls three of them didn't answer one of them. Did she got five grand? So you could get your mom involved Get your dad involved get you know kid you get you get your family members to back card on University They're contributing to your target.

Not mine. I got mine. I hit mine already I've exceeded mine This whole thing now is for you guys.

You guys want to do some would it or not? Perspective number three guitars investments. What do you feel?

There's the like your top three safest investments Okay, you know why because when I buy a building with an address it fits in the right location It will be here 20 years from now So I had a guy call me about car dealerships Odessa did I don't want about car dealerships? I don't even know if they're gonna be here So I'm not I'm not buying Bitcoin, I don't know anything about Bitcoin man you want to give me some Bitcoin I'll take it But I'm not buying bitcoin cuz I know I'm not buying Twitter stock I don't know anything about Twitter is Twitter gonna be here in the future. I don't know I know I only invest in things that I know will be there in the future Excluding my condo.

I'm not gonna buy that I know I don't need that. I Want to buy things that people pay for so this investment right here needs to produce what? One of the criteria can't lose money number two It has to give me a trip if it don't have a baby ain't behind it See see why because I'm trying to get out of this my goal as to what I want money passive money from this equal to this So I'm not gonna go buy Google stock.

You know, what because they don't pay a dividend every month. I Need a drip. I'm not gonna buy AT&T stock.

AT&T pays a dividend every quarter. When do they collect their payments? Every month man.

Can you imagine calling ATT's they do we want to pay you every quarter like you pay your dividends That's how important monthly cash flow is. Do you understand that? They pay their dividends to investors every quarter They collect checks every month The difference between those 89 days makes them hundreds of millions of dollars The Bank of America Northern Trust right here will lend me money to buy an apartment deal But they won't lend me money to buy their own stock Think about that a Bank will lend me money to buy a piece of property, but they will not lend me money to buy a Bitcoin They won't even lend me money to buy a Bank of America stock So, what do they believe in Cash flow man They believe in cash flow cash flow that any asset that generates cash flow into the future is going to be worth more money So what do I invest in y'all?

See where I'm putting all my money. That's all I talk about all the time Because I know it's gonna be there Grandson, I'm saving 40% each and every single month oh, yeah, and so like I've heard you say when you're at a hundred thousand, that's when you should be like investing and like The problem with that in Miami for you because I'm making a statement to a lot of people when I say that the problem in Miami is 100 grand is gonna buy you a three hundred thousand dollar deal, which is maybe a duplex Then that hits that other rule, I'm like never buy two doors You need thirty two doors If you're gonna go do these on your own you need thirty two doors and in Miami that's gonna cost you more like six million dollars And a million two down Like that investment in personal development like training Numbers of tenants should all be going into personal development all of it Okay, like all your leftovers you should be worried about person will develop more than food You eat a piece of chicken at Publix and then listen you you guys don't need any personal development You just need to listen to me every day Just tap into the freaking audio programs You got millions of dollars worth of training around you every day just in the car When you're working out just like stay with the same message over and over until it grooves in Until you're like you're you you feel like me a little bit and then what will happen is it'll come back if you ever have you ever just been around somebody maybe when you were younger and you're around this person else and you're like I felt like I was a Santa like you right, you need to sound like me until the other you comes back on top of it and then you underst No effort in how you're thinking or the decisions you're making This boring right here gossip its abort this is boring but I guarantee you it'll work, okay? So thirt.

. . thirt.

. . 33 years old 245 years old there was no vacations I didn't go to Hawaii I didn't I went on one fishing trip Okay, it was work man it was like that's my that's my vacation when I get that Then then I'm gonna do what I got to do If I was on a vacation it was because I would I was going there to see a client Jerrod see me Jerrod see me on the road.

John Hamlin gives me his plane one day. We went to five cities in one day John Hamlin was on the plane. He's like I can't do any more a hahaahhahaha War John for two days after that, huh.

He said he was so tired. He didn't go to work for two days after that Yeah, cuz I'm chasing this Or maybe it's 50. Maybe it's a hundred or maybe it's a billion So so you got you got to decide what game you're gonna play here cuz right now right now you guys are being You're being manipulated by the world.

So I write my goals takes me about 25 seconds to write my goals And then I'm bouncing. I'm on the phone man calling somebody to say hey Move me to 100 then move me to 200 then move me. See you.

See what I'm saying. I'm spending all my time in doing So if you're spending more than 25 or 30 seconds right in your goals down You play it you had All right? you don't need to figure all this out right now You just need to figure out the 40% thing just work on this Can you get this because I guarantee you guys aren't close to this number right now if you're doing this good for you It's awesome.

Unbelievable This is really hard to do Okay, yeah That's who you're calling today. Okay, and by the way, we give them a great product We give them great service we support people and we help them do exactly what I'm saying here Right. So because right now these people are being told they're doing good You got you got a guys you're talking to out there and make it three and four hundred grand a year Okay, I know for guys that are about to lose their job and they've been making 800 grand a year They're gonna lose their job.

They're gonna be told this month you're done Okay guy called me recently it's like I'm done with these guys they make an 800 sitting on the 800 They're happy with the 800. I'm done. He's like if I got to come to work here every day and they don't want to push I'm getting rid of them find somebody else four guys, we're gonna go from 800 grand a year to zero Next 30 days they gonna be looking for work So it happens to a lot of people.

I mean how many of you know a family member lost her job? Okay How many of you have a family member where the kid got a drug addiction he had to go to Rehab for 30 days and it cost 40 grand bad shit happens how many of you know somebody got cancer? Okay, how many know somebody in a car accident cost three or 400 grand?

Shit happens Okay, the problem is not that shit happens shit happens and people aren't ready for it "Oh god, i can't belive this happened to me" Oh shit, really? God, damn you been around long enough, right? How many of you can't swim (laughts) You live in a planet with water.