Do THIS To Avoid Going Broke & Build Wealth Instead | Gino Wickman EP 222

0:00Hi, my name is Lewis Howes and welcome to the Daily Motivation show.

0:10I firmly believe that taking charge of your mindset allows you to be in the driver's seat of your life and unlock your potential. And that's why I'm thrilled to share that my new book is out right now. It's called The Greatness Mindset. In it, you'll learn how to build a plan for greatness through powerful exercises and toolkits designed to propel your life forward. This is the book that I wish I had 20 years ago. It's everything I've learned in the last decade with the research and the science to help you unlock your mind. Make sure to go to lewishouse.com slash 2023mindset to pick up your copy of my book, The Greatness Mindset, today.

0:51What's the difference between$10 million and$100 million company? Well, here's what I always say. Whenever I have a client that says they want to build a$100 million company, I always say, do you really want to build a$100 million company? So the example I give is it's a heck of a lot easier to have a$10 million company that throws off a 20 % profit than a$100 million company that throws off a 2 % profit. Same profit, same bottom line, same money going in your pocket. 10 times the people, 10 times the complexity, 10 times the everything. So it's just not all it's cracked up to be, but it's okay if that's what you want.

1:24I've got lots of clients that go to 100 million. You just have to know that that's what you want and you want that complexity. And I hope you're generating a 20 % profit at$100 million, but keep it in its proper perspective because what is the motive? Why are you really wanting to go to$100 million? And when we dig into why and we facilitate that leadership team having that conversation, in almost every case, they say, whoa, we don't want$100 million. We're good with$30 million. Why do most people want to make$100 million? The people that say, I want to. Because everybody's saying$100 million.

1:51Now it's a billion, by the way. Everybody wants to be a billion-dollar tech unicorn because that's what the media is telling us. It's, come on, not everybody's cut out for that. Most aren't. Because that's what they're hearing. That's what the organization, everybody's talking about$100 million. So they hear it and they think, wow,$100 million, that's got a nice ring to it. They just have no comprehension of what the hell they're about to put themselves through if they don't really want it. But for the ones that want it, they make those really tough decisions. And it's masterful and it's beautiful and it's impressive.

2:19So you've got to build a$100 million leadership team. Half your team's going. Stop. And the leadership team you started with is never the one you end up with. And so that's the bitter pill. You've got to be tough enough to understand that. And your team needs to understand that. But your team needs to understand, if you're all$100 million people, you're going to be here forever. But the day you can't keep up, listen, we'll move you down to another seat. We'll move you to another company. But you've got to go because we need$100 million people here. Are you tough enough to do that stuff? And most aren't.

2:48So if I'm sitting there with a visionary and the visionary says, I'm not concerned about the revenue. I'm concerned about the impact. and let's pretend they're a$10 million company and he's saying or she's saying they want to go to$100 million, I'm going to say, okay, if that's true, I can show you where you can impact 100 times more people and only be a$20 million company. So is it real? Because let's look at EOS Worldwide. 130 ,000 companies running on EOS by downloading free tools, buying a$20 book. That ain't a lot of money. I make two bucks a book. Right, right. So that's impact. So that I would challenge that entrepreneur and say, if that's really true, then let's talk about how you make more impact.

3:30And that doesn't necessarily have to mean$100 million. So what is really true for you? Those entrepreneurs that you guys work with that all of a sudden start to make more. They implement this system. They start bringing in more revenue than they've probably ever made in their life. And then paying themselves more than they've probably ever paid in their lives. What do they need to prepare for if they start doubling their income, tripling their income, giving them a big bonus check at the end of the year, how can they prepare themselves for the abundance of wealth coming in? That's a good one. You know, for our EOS implementers, we have over 450, as I talked about.

4:06These people earn a lot of money. It's a good gig that we do. We are transforming companies making a lot of money. And so what I do for them is the ones that reach a certain level and beyond is I do a special full-day session for them called a Freedom Forum. And the reason I do it is because the givers, the teachers, the helpers of the world most die broke because we're all trying to fill a hole and so we we just keep giving it giving it giving it giving it we don't want to keep it right right so i've watched so many of the thought leaders die broke and so i just really oh it's this mental shift and for me it starts with the end game that just says do you want to retire someday and most people are going to say yes which means you can live off your money and not have to work most people are going to say yes to that.

4:50Okay. And so what kind of a lifestyle do you want to have? And let's hypothetically, you say a hundred thousand dollars, your lifestyle. Okay. Simple math. So then that means you need$2 million sitting in account on that retirement day, paying you 5 % and you can live off that. Sit with a financial advisor. They'll teach you this. I don't take my word for all the math, but the point is most people don't get that. And they think that for some reason, the money machine continues forever and it just doesn't. And so it's a day of reprogramming their brains and teaching them. And so once they understand the math, then they realize this extra $100 ,000,$200 ,000,$300 ,000,$400 ,000 they have in their account, the urge to go buy a bigger house, buy a boat, buy a car, buy a this, they realize, whoa, I can put that toward the$2 million.

5:34And so just a mental shift because most people are conditioned to spend that money for whatever reason and think that the money's going to keep coming in and it just doesn't always. Things change. Before your head hits the pillow, somewhere between five o 'clock and your head hitting, whenever your day ends, you have to sit down for 15 to 30 minutes and prepare for the next day and just lay out in a sequential, in a linear fashion, your day. Time blocking your meetings, your appointments, your calls, your projects. And so you're just laying out the whole day so that when your head hits the pillow, you will sleep better.

6:11Yes. You will literally wake up with ideas and solutions to projects you're working on the next day because your subconscious is going to work on them because you prepared so well. And your energy and your creativity will go through the roof because what happens is you wake up the next day and you hit the ground running. And there are people that say, oh no, I'd like to wake up and let the day come at me. And so if you wake up and you start checking emails or you walk out of the office, you have lost all control of your day. And so this is you taking control of your day and managing your energy.

6:39And you will be, I want to say twice as productive. But who knows the math, but you will be much more productive.

6:50Thank you so much for listening to today's episode of The Daily Motivation. And I hope you have an amazing rest of your day. If you enjoyed this episode, make sure to click the link in the description. That will take you to the full episode of our main podcast on the School of Greatness. And if you are loving the daily motivation, please follow us over on Apple Podcasts and Spotify and leave us a review over on Apple Podcasts right now. And if you want more exclusive content and ad-free listening experience, make sure to subscribe to our Greatness Plus channel on Apple Podcasts right now. And if you want to get even more inspiration from our world-class guests and learn how to improve your life and take it to the next level, then make sure to sign up for the Greatness newsletter and get it delivered right to your inbox over at greatness.com slash newsletter.

7:46Again, have an amazing day, and I'll see you tomorrow with another episode of the Daily Motivation Show.

8:01Thank you.