How To Stop Building A Company You Hate And Start Creating Real Wealth | Dan Martell

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

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1:18So I'm curious with all the people you coach and work with, what are the three keys that they all have in order to build wealth sustainably and exponentially? What would you say those three things are? Yeah, I mean, the first thing I'd say is most entrepreneurs, unfortunately, because they've never been taught different, end up building companies they grow to hate. Think about that. It's not the economy that takes a business down or an entrepreneur. It's usually the fact that they wake up one day and they look around and they hit what I call the pain line, which is essentially they have opportunity to grow, but the more they grow, the more pain they're going to feel.

1:55So what is the thing there? They have the most pain around is that their teams, their customers, the clients, is it the industry? It's the calendar. It's their schedule. Yeah. And it's, it's, it's maybe the way they hired where they don't have the right people or the thing they're selling is too complicated. And the more they do, the more their calendar explodes. So imagine you get an email where you could double your capacity, double your revenue, and you can't take that business on because that would mean more pain in your life. And you're already trying to get more time for the weekends for your kids or whatever it is.

2:24I mean, it's tough. And you're exhausted. You're burnt out. And it's not the dream that you were sold. You sold yourself a vision of a future where the bigger this gets, the more time you're going to have and the more freedom. And unfortunately, if you're not taught to do it properly, that's what ends up happening. And that's what happened to me. The three things that I would say that people who've created wealth and when I think wealth, I think of like time and just like the freedom is first off is they understand the value of their time. so and and when we think about the value of the time it's not how much you get paid for your hour it's what do you think you're worth so i learned a long time ago is nobody's gonna get paid a penny more than they think they're worth so if you don't wait what's the difference between how much you get paid per hour versus how much you're worth i think there's one that materializes in the minute how much did somebody just pay me for what i just offered and there's what do you think you're worth?

3:18What's your value? But some people might say, well, I'm worth a thousand dollars an hour, but they're not getting paid that. And you could, is that delusional to think, oh, I'm worth this, but if the market's not willing to pay it, are you worth it? Dude, it's such a good question. Here's why it's a great question is because there has to be a belief you're worth more than what you're currently getting paid. So you make better trades. See, if you think you're worth a thousand, but you're only getting paid a hundred, then you're going to start thinking about your time differently where you'll say no to things that don't even look remotely close to 200 maybe a 300 an hour opportunity or you might decide to spend some money see most people spend time to save money i encourage them to spend money to save time yes this is kind of how i grew up you know this is what people do it's like you know we're cutting coupons we're going to discount we're going waiting in line for an hour to like save money whatever it might be it's like you wait where you spend time to try to save money.

4:13But why is that the wrong way to look at it? Because if we're talking about creating wealth, the only ways we can create wealth is by making that hour worth more. And this is what's interesting is, so the first part is worthiness, but the second part is increasing your value. So if you think you're worth a thousand, but you're only charging a hundred or people aren't willing to pay you more than that, then you can say, well, how can I become more valuable? For me, the three areas I always look at is the character traits that I have, right? Like you're not valuable if you're not somebody that can deliver on the commitments you've made.

4:42Right. And so then are you worthy if you're not valuable? Exactly. So I think that you have to start with the belief you're worthy, but then you got to back it up by action. And by creating value. Creating that value. What? Developing skills. So it's character traits first off, right? Like just being somebody that shows up that honors their word, right? Be impeccable with your language. Second would be skills. Like what skill do you currently have that's creating value and is there a way to upgrade that skill, right? Marketing, sales, et cetera. And then the third part I think is belief systems, right?

5:14So what are the belief systems that keep people bankrupt or broke? I always look at two things. Whatever the, let's say the goal is becoming rich. There's two parts of this. There's the negative, there's this limiting beliefs you have about yourself about being rich. And then there's the negative beliefs you have about the achievement. So both of those are in the mind. So think about like limiting beliefs is like, well, I can't do this. I've never done this before. And I know the person has this belief if I hear the language. And you know what I'm talking about. This language like could, should, it'd be nice.

5:47All right, one, two, yeah, yeah. Yeah, that language has the expectation of failure built into it. So that's the limitation beliefs. And then on the other side of the coin of the outcome is the negative belief. So what's negative beliefs that keeps people broke? The rich people are evil. There's no chance you're gonna wake up to try to be rich if you believe rich people are evil or rich people don't pay taxes or rich people took advantage of somebody or rich people are unhappy. Because if you believe rich people are evil, you don't want to become that belief of evil. If I held a knife to your throat and said, step forward, you'd be like, well, I don't want to step forward because I'll hurt myself.

6:23It's like, yeah, so you'll never push for the goal if you think the outcome is negative. So until we work through those beliefs, I see, and that's what I call self-sabotage. The biggest work I do with entrepreneurs is understanding what are the unconscious beliefs they have that are literally self-sabotaging their progress to winning.

6:48Thank 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.

7:38Again, have an amazing day and I'll see you tomorrow with another episode of the Daily Motivation Show.