The 10 Pillars of Wealth

1. Reject Getting Rich Slow: Embrace Calculated Risks for Faster Wealth

"Essentially, this belief is that you can't become successful, for whatever reason your brain tells you. Plain and simple."

Challenge conventional wisdom. The traditional path of slow wealth accumulation through saving and climbing the corporate ladder is flawed. It's built on bad risks you can't control, like job security and market stability. Instead, embrace entrepreneurship and calculated risks you can manage.

Reframe risk and reward. Getting rich quickly isn't about winning the lottery or making reckless gambles. It's about:

• Taking smart, calculated risks
• Building businesses with high potential returns
• Learning from failures and iterating quickly
• Controlling your financial destiny rather than relying on external factors

By rejecting the "get rich slow" mentality, you open yourself to opportunities for exponential growth and true financial freedom. Remember, the perceived safety of the traditional path is often an illusion.

2. Separate Time from Money: Build Systems for Passive Income

"Jordan understood how to separate his time from making money, which led him to get rich quickly."

Create scalable systems. True wealth comes from building businesses and income streams that don't require your constant time and effort. Focus on:

• Developing products or services that can be sold repeatedly without your direct involvement
• Creating systems and processes that others can execute
• Leveraging technology and automation to multiply your efforts
• Building teams that can operate independently

Think beyond trading time for money. Examples of separating time from income:

• Software businesses with recurring revenue
• Content creation that generates ongoing ad or affiliate revenue
• Building a sales team to multiply your reach
• Real estate investments that provide passive rental income

By focusing on scalable, passive income sources, you can exponentially increase your earning potential while freeing up your time to pursue new opportunities or enjoy life.

3. Believe in Your Greatness: Confidence Drives Success

"If you believe that you are extremely good looking, it will cause you to act more confident around the opposite sex and, well, I don't have to explain to you what the result is in this scenario."

Cultivate unshakeable self-belief. Success starts in your mind. You must truly believe that you are capable of greatness and deserve success. This confidence will drive you to:

• Take bigger risks and pursue ambitious goals
• Persist in the face of setbacks and criticism
• Project competence and attract opportunities
• Make bold decisions others shy away from

Actions follow beliefs. Your internal beliefs shape your external actions:

• If you believe you're destined for mediocrity, you'll make safe, uninspired choices
• If you believe you're capable of extraordinary success, you'll take the actions necessary to achieve it

Remember, this isn't about ego or arrogance. It's about having the genuine self-confidence to pursue your goals relentlessly and overcome the inevitable obstacles on your path to wealth.

4. Take Full Responsibility: Control Your Financial Destiny

"The cold hard truth is that Steven is the one who died and paid the ultimate price for the driver's actions."

Own everything in your life. Successful people take 100% responsibility for their circumstances, good or bad. This mindset shift:

• Empowers you to find solutions rather than make excuses
• Helps you identify and mitigate risks proactively
• Pushes you to learn from failures instead of blaming others

Proactive problem-solving. When you take full responsibility:

• You anticipate potential issues before they arise
• You create backup plans and contingencies
• You're constantly looking for ways to improve and optimize

This doesn't mean blaming yourself for genuine misfortune. It means recognizing that your response to any situation is within your control. By taking ownership of your financial journey, you position yourself to make better decisions and create the wealth you desire.

5. Adopt an Abundance Mindset: Overcome Scarcity Thinking

"Money is repulsed by people with a scarcity mind-set."

Embrace limitless possibility. An abundance mindset is the belief that there are endless opportunities for wealth creation. This outlook:

• Encourages you to pursue big goals without fear of "not enough"
• Helps you see potential partnerships instead of just competition
• Allows you to invest in growth rather than hoarding resources

Contrast with scarcity thinking:

By adopting an abundance mindset, you open yourself to greater opportunities and are more likely to take the actions necessary to build significant wealth. This doesn't mean being reckless, but rather approaching business and life with optimism and a growth-oriented perspective.

6. Focus on "What Is" Not "What If": Take Action Now

"Hurry up and get it wrong."

Embrace imperfect action. Overthinking and obsessing over potential problems leads to paralysis. Instead:

• Identify your most pressing current problem
• Take immediate action to solve it
• Learn from the results and iterate quickly

The power of doing:

• Real-world experience teaches more than endless planning
• Mistakes provide valuable lessons you can't get from theory
• Taking action builds momentum and confidence

Don't let fear of "what if" scenarios hold you back. Focus on the concrete steps you can take right now to move closer to your goals. Remember, successful entrepreneurs are those who act decisively, learn quickly, and adjust their course based on real feedback, not imagined obstacles.

7. Map Out Clear Goals: Create Actionable Plans

"At the end of this exercise, you now (hopefully) know: The exact lifestyle you want, including the exact house you want to live in and the car you want to drive."

Define your destination. Vague desires won't drive success. Create a detailed vision of your goals:

• Specific financial targets (e.g., "$5 million net worth by age 40")
• Lifestyle objectives (house, car, travel, etc.)
• Business milestones (revenue, customers, market share)

Break it down. Once you have your big vision:

1. Identify 3-5 major milestones needed to reach your goal
2. Break each milestone into smaller, actionable steps
3. Create specific, measurable tasks for the next 30-90 days

This process transforms lofty ambitions into a concrete roadmap. It allows you to focus on immediate, high-impact actions while keeping sight of your long-term objectives. Regularly revisit and adjust your plan as you make progress and gain new insights.

8. Prioritize High-ROI Activities: Maximize Your Time and Effort

"Identify high ROI actions and remove low ROI actions from your daily routine."

Focus on what truly matters. Not all actions are created equal. Identify the 20% of activities that drive 80% of your results:

• Direct revenue-generating activities (sales, client acquisition)
• Strategic planning and business development
• High-level networking and relationship building

Eliminate or delegate low-value tasks:

• Administrative work
• Repetitive processes
• Tasks outside your core expertise

Continuously refine your focus:

1. List all your current activities
2. Evaluate their impact on your goals
3. Ruthlessly cut or delegate low-ROI tasks
4. Double down on your most effective actions

By consistently prioritizing high-impact activities, you'll accelerate your progress towards wealth and free up time to pursue new opportunities or enjoy the fruits of your success.

9. Master People Skills: Understand and Influence Others

"Money is power over other people."

People drive wealth creation. To become rich, you must understand and influence people:

• Customers who buy your products or services
• Employees who execute your vision
• Investors who fund your growth
• Partners who amplify your reach

Key people skills to develop:

• Emotional intelligence
• Persuasion and negotiation
• Leadership and motivation
• Networking and relationship building

Focus on value creation. True influence comes from understanding others' needs and desires, then creating win-win situations. This applies to:

• Product development: Solve real problems for your target market
• Marketing: Communicate benefits that resonate emotionally
• Team building: Align individual goals with company objectives
• Partnerships: Create mutually beneficial collaborations

By mastering people skills, you unlock the ability to mobilize resources, close deals, and create opportunities that drive wealth creation. Remember, at its core, business is about human interactions and exchanges of value.

10. Surround Yourself with Success: Find Mentors and Competitive Peers

"If you spend most of your time with people who are making a million dollars a year or are working towards becoming rich, you are going to develop a strong urge to do the same."

Leverage your environment. Your peer group dramatically influences your mindset, ambitions, and actions. Strategically build a network that elevates you:

• Seek mentors who are a few steps ahead in your field
• Join mastermind groups or communities of ambitious peers
• Attend industry events and conferences to expand your circle
• Consider paid memberships in high-level business groups

Benefits of a success-oriented network:

• Access to valuable knowledge and insights
• Increased motivation and accountability
• Exposure to new opportunities
• Benchmark for higher standards of achievement

Remember, you don't need to completely abandon old friends, but ensure you're regularly interacting with people who challenge you to grow. Cultivate relationships with those who have achieved what you aspire to, and let their success inspire and guide you.

11. Commit to Wealth: Make an Unwavering Decision to Succeed

"Every self-made wealthy person decided to become rich at some point."

Make a definitive choice. Wealth creation starts with a firm decision to succeed, no matter what:

• Reject excuses and limiting beliefs
• Commit to overcoming any obstacle
• Refuse to accept mediocrity or "good enough"

Reinforce your commitment daily:

• Write down your wealth goal and review it every morning
• Visualize your success in vivid detail
• Take consistent action towards your goals, even when it's difficult
• Surround yourself with reminders of your commitment

This unwavering decision becomes the foundation for all your other actions. It gives you the resilience to persist through challenges and the focus to prioritize wealth-building activities. Remember, becoming rich is not about luck or circumstances – it's about making a choice and following through with relentless determination.

Last updated: October 20, 2024