The 7 Wealth Killers That No One Talks About

I'm going to share the seven wealth killers that no one is talking about most people think it's credit cards and Caramel Lattes it's not because the first wealth killer keeping you broke is saving money rich people have learned to let money flow through them they don't hoard money they don't collect money they use it to reinvest in themselves in their business that is the big mistake that most people make they don't want to spend on the right things because they're so worried they're going to make the wrong decision so they make no decision when I

was 23 building my first company I spent all my extra money paying for speed I needed to move faster it's why I hired my first coach Bob he was a certified emyth coach and he taught me how to build the business I could have learned it it would have took me 10 years instead he took 35 years of experience building and exiting his company and put it into a blueprint and gave it to me I moved very fast broke people use money to impress rich people use money to invest invest in their skills to become

more valuable their business so they can get more customers their team so they can get more time back when you invest you show the universe that you're not here to hoard a couple years ago I was talking to my assistant and I realized I had millions of loyalty points and it occurred to me that I knew better so I told her I said in the next 12 months we're going to take those 30 million points across all the different programs I had and use them to bless people to bless my team to bless my family

for my own travel if I need them but to keep them to myself cuz I was playing this weird game of collecting points was not going to serve or tell other people that I was participating in the economy one of the easiest ways to invest in yourself for free are videos like this so if you haven't yet hit subscribe but once you started investing in yourself most people get lost on Direction which brings us to wealth killer number two diversification one time I was on a call with a client and they were having a hard

time progressing in their business and when I dug deep I found out not only did they have one business they actually had three businesses the worst part is the one business was the rich Uncle to the two others that were sucking all the profit from the first one and creating the most distraction most people think that wealth creation requires diversification the problem is that it actually takes concentration see diversification is diversification the mistake most people make that kills wealth is starting multiple business at the same time because they have a fear of failing in any

one of them and they don't know which one is actually going to be the winner this morning I was wrapping up a hike with a bunch of Founders and as I was leaving one of the entrepreneurs ran after me to ask me a question and just by the way they were asking about should I partner with this person should I do this I was just like what's your Revenue at top line for the year total and I thought he was going to say like 3 or 4 million he said 90,000 if you're at 90,000 and

you're talking to me about multiple businesses you don't even have a company you probably barely make enough money to live you're distracted by multiple businesses and you think you're an entrepreneur you're not you're using diversification stop it but being broke isn't always about your behavior which brings us to the third wealth killer stagnant friends I grew up in a small town east coast of Canada 100,000 people and at the time everybody was nice I really loved everybody around me I felt like they were friends and they were supportive the challenge was is that as I

continued to want to be better and grow I noticed that they weren't on that same path what used to be them cheering me on because they wanted to see me try as soon as I actually started succeeding all of a sudden now what I was doing was too much and what I discovered is you're not the average of The Five People You spend the most time with you're the average of the five people you allowed to influence you if your friends don't have what you want don't do what they do so what I suggest to

people that want to create real wealth is to do a friend inventory at the beginning of the year look at the list of your goals that you want to go achieve and ask yourself of your friends that you spend time with or you allow to influence you who've achieved those goals are these people closest to you or closest to the goal if you don't have anybody in your corner that's done the thing you want to do this year you got to go find those people my buddy Cole D Silva had this great talk he gave

at my Kings Club program and he shared with these kids a simple premise he said I'd rather have four quarters than 100 pennies he was talking about people he was talking about friends he said I could have 100 friends but if they're worth one penny because they're not there to support me they're not going to encourage me they're not going to inspire me versus I could have four people of high integrity high value High support I'm taking the four quarters that idea encapsulates the whole concept that stagnant friends is a huge wealth killer but it's

not just about being around the right people which brings us to wealth killer number four doing everything yourself I'm like 29 and I have a business partner Ethan and we have a major issue at work and we had to go in and start working on on the strategy to resolve it and it's a Saturday and I call him up and I was like hey let's meet at the office and he says I'll be there after I'm done doing my laundry this is a CEO of Aventure back company that tells me he can't meet with me

cuz he has to do laundry Ethan you walk by three or four wash and folds on your way to the office can you please pay somebody $112 so that we can get to work on this most people spend time to save money you have to spend money to save time you can always make more money you can't make more time growing up I watched my dad he had a couple of rental properties and every Sunday he would mow the lawn and I remember asking him why do you mow the lawn you can pay somebody else

to do this most people do he's like I enjoy doing it problem was is he didn't realize that instead of paying somebody to get that time back to look at more real estate deals he was occupied by doing something that was low value he didn't understand the value of his time in many ways that inspired me to write the book buyback your time because I wanted to inspire entrepreneurs to understand how to get leverage in their work it's why I teach this concept called the buyback Loop which is auditing your time for energy and what

makes you money transferring the things that takes your energy and doesn't make you money to somebody else and then filling it up with activities skills investing in yourself that makes you more valuable and you can start as simple as looking in your home having somebody clean a couple times a week or do meal prep for you or hire somebody to run errands the key idea is learn how to delegate and have somebody else support you so that you can become more valuable to your business wealth follows those that invest in themselves when you start off

you might spend dollars to make $10 and then you spend thousand to make a h 100,000 eventually you're going to have to invest 100,000 to make a million it's always been that way and it's always going to be that way and if you understand how wealth is made there always has to be an investment to get a return but you might ruin your chances of success if you don't watch out for this which brings us to wealth killer number five being humble as a Canadian I can tell you I was humble to a fault I

was so humble I didn't tell anybody about anything I was up to I was scared to come off as bragado docious and I kept all my goals to myself how is somebody else in my life next to me on a plane in a meeting at a conference supposed to maybe help me for me to potentially get them as a customer if I don't tell them what I've done that I'm proud of if I'm hiring a real estate agent and they didn't do anything impressive out of a 100 who am I going to pick the one

that I feel is the most talented keeping your dreams your goals your accomplishments to yourself doesn't impress anybody and will hurt your ability to create wealth I believe everyone is one conversation away from achieving their dreams most people have vague goals in their head that's why they don't express what they are I want to invite you to consider to be very specific specific around what you want to accomplish and write them down once you got them written down you have to tell people tell people that'll support you successful people talk about their goals it's how

it's always been when you actually sit down at a dinner with multi-millionaires they're not talking crap about other people they're not talking about the news they're not talking about other things in politics they're literally sitting down saying here's what I'm up to what are you up to how can you support me I want to support you it sounds so crazy but the more specific and big your dreams and goals are the more you'll notice other people will want to help you my favorite thing to do is once I know what my goal is to give

it a mantra so for example last year when I wanted to get abs I called it project visible ABS I went from 16 177% body fat down to 4 or 5% absolutely shredded gave it a mantra repeated it told everybody about it documented it and I achieved my goal 90 days am I surprised no when you talk to successful people being humble is actually a massive wealth killer and there's a difference between coming out of the gate and an new relationship with a person You' never met before and telling them all the things you've done

be curious first ask more questions about the other person through that they'll ask you what you do in that moment tell them be proud of yourself they asked they gave you the floor share your achievements holding back is holding you back from achieving wealth but talking about your goals won't be enough if your beliefs get in the way which brings us to wealth killer number six low self-worth I have a friend that is so talented every time he interacts with friends of mine or even myself he creates so much value he's one of the smartest

guys we all know yet I've watched him year over-year over a year never ask for a piece of the action never insert himself into the project why do you think that is it's because he doesn't feel worthy of it he doesn't believe he deserves it and that's what I believe holds most people back from being wealthy unworthiness fuels self-sabotage if you took everything you know everything in knowledge that is you and you put it into a pile that's outside of your yourself all the relationships all the knowledge what would you pay for that is it$

100,000 is it $500,000 is it a million doll for me it would be a crazy number that number is your value and I bet it's way more than what you've been asking for and it's way more than you think you deserve and you should ask for it there's this one strategy I teach my clients when I coach them to create an achievement list the reason why is I want them to have a place that they can reflect on all the incredible accomplishments that they've done that they're proud of and they could be small it could

be the first time they landed a kickflip like one for me or the time they graduated from University or maybe the first sale they ever got in their business doesn't matter what it is if you felt proud of it you write it down and then what you do is when you're about to go into an important meeting when you're about to have a really important conversation when you feel a little beaten up and your selfworth is really not there just open up that achievement list and just review all the incredible things that you've done it

doesn't matter if you're in your early 20s or in your 60s you've probably done some things that to other people if you reminded yourself would be so impressive read that list and get energized by it now this is what my friend should be doing to participate and it'll change everything for you if you start doing it it's called just freaking ask if you're in a deal or you have a potential customer just ask them would it be unreasonable to get a piece of the deal would it be unreasonable for me to ask to get some

equity in that would it be unreasonable for us to work together would it be unreasonable to get paid for that work or another one of my favorite questions is what would need to be true what would need to be true to get paid for that work what would need to be true to get equity in that deal what would need to be true to be partners with you asking the question even if they say no at least puts you in a position to participate your selfworth comes down to your internal belief of you doing the

work consistency to the commitments you make in private builds your self-confidence and I learned that the more you work the more it instills the worth so if you want to become more worthy and have self-worth you got to do the work on a daily basis even if you don't want to because that's going to build that self-worth but the hardest part is actually when you have a little bit of success which brings us to wealth killer number seven fear of loss I lost 3 million in my first couple years as an angel investor what I

learned is that losing was part of the game was I proud of that no did I have shame for sure I thought I sucked but it turned out that investing in losing was how you got the spins on the Wheel to figure out what worked see most people that have had success they go from playing to win to playing not to lose cuz now they have something to lose I know I have a lot of friends that are the big dogs in their communities where they have the house and the toys and all the accolades

from their friends and they're the person that hosts the barbecue and they always have the people over cuz they get the nice place the problem is they wake up every day wondering what could be see to make 100K when you started off you needed to risk like $10,000 if you want to make A1 million you need to learn to risk 5 to 10 million there's a ratio for investment not an absolute dollar amount the more you want to go create the more wealth you want to create the more you got to be willing to take

risk it's never been any other way and it's never going to change except most people change why they're playing the game most successful people have been broke multiple times eventually they learn how to win and the ones that really create wealth learn how to reinvest and take risk and they never stop you got to get to a place where you're willing to take more risk the world rewards those who make courageous decisions I have so many examples throughout my career where most people said I'm dumb why would you do that and I had it in

my heart I made one of those decisions today I literally passed on an opportunity that didn't feel aligned it made me feel sick in my stomach doing it but when I asked my heart what do I really want I knew it was the right decision on the back end of that like every other time I felt this way that's where the reward comes from if you want to learn the seven High income skills of the top 1% click here and I'll see other side