Dan Martell - 6 Skills That Millionaires Master

00:00:00.000 You know, I don't ever introduce myself.

00:00:11.000 Six skills that millionaires need to master.

00:00:14.280 Now, if you're frustrated with the amount of things

00:00:17.300 you currently need to learn and you're not sure

00:00:19.000 which order you should put them in,

00:00:20.860 or maybe you've read a ton of books and you feel confused

00:00:23.220 as to what is actually the most important,

00:00:25.700 I'm gonna share with you guys my six

00:00:27.680 that are gonna cut through the noise,

00:00:29.120 get you clear on your action items

00:00:31.800 and make sure that you build a plan

00:00:33.760 to develop these skills.

00:00:36.360 I was fortunate enough that I had people come into my life,

00:00:39.440 mentors, extremely wealthy and successful and kind,

00:00:43.140 mentors that showed me the way to actually build wealth

00:00:47.000 and create an impact.

00:00:49.300 I started when I was 17 and it wasn't until I was 27,

00:00:52.340 so 10 years of grinding and focus,

00:00:55.120 three businesses, two failed, one finally on my third.

00:00:58.480 I remember the day I was driving up this highway

00:01:01.000 in my hometown called Vaughn Harvey

00:01:02.980 and my accountant called me up and he said,

00:01:04.400 hey Dan, you wanna hear something cool?

00:01:05.700 And I was like, yeah, what's up?

00:01:06.980 He goes, dude, you've got a million dollars.

00:01:10.980 And I was like, what do you mean I got a million dollars?

00:01:12.640 He's like, your business has generated a million dollars

00:01:15.440 in retained earnings.

00:01:16.520 And I was like, cool.

00:01:19.460 And then he's like, yeah, congrats.

00:01:21.840 And I was like, awesome.

00:01:22.800 I was like, I mean, do other people do this?

00:01:25.320 And that's when he started to share with me

00:01:27.020 that it's actually a very small percent.

00:01:28.820 And you know, this is not an opportunity to brag.

00:01:31.020 It's just many people never break 50,000 in their business

00:01:34.900 in revenue in a year, let alone a quarter million,

00:01:37.620 let alone a million or a couple million or 10 million.

00:01:40.320 And I just think not understanding the skills

00:01:43.480 that they've mastered, that I was lucky enough

00:01:45.260 to be taught and spent a lot of time on, okay?

00:01:48.560 I'm not here because anything was given to me.

00:01:50.840 It was repetition, focus, habits, structure,

00:01:54.780 and mentors that held me accountable

00:01:56.660 and really inspired me to behave and act in a bigger way

00:02:00.000 than I even thought possible for myself.

00:02:01.960 That's what I'm gonna share with you in this video.

00:02:04.600 So the first thing is you need to learn how to learn, okay?

00:02:08.080 First thing you need to learn is actually how to learn.

00:02:10.000 How to learn, unlearn, and relearn.

00:02:12.280 How to become what's called an auto-dick-dack.

00:02:14.780 Yes, I said it right, auto-dick-dack.

00:02:17.640 Essentially it's a word that means self-learner.

00:02:20.760 And really it's about learning how you learn.

00:02:23.180 I think everybody has a different way of learning.

00:02:25.220 I'm a big fan of being around people

00:02:27.220 and modeling their behavior.

00:02:28.380 Some people like to read books.

00:02:29.840 Other people are very, they learn by doing.

00:02:33.140 But whatever it is for you, first thing you need to learn,

00:02:36.060 and this is what millionaires do, is they learn how to learn.

00:02:38.660 They learn how to self-educate themselves

00:02:40.840 so no matter what problem gets presented to them,

00:02:43.300 they have an answer or they can find the answer.

00:02:45.880 So that's one.

00:02:46.720 Two is they learn how to hire, manage, and lead people.

00:02:51.720 You know, I see so many entrepreneurs talking about like,

00:02:54.100 I don't want any employees and I just want a simple business

00:02:57.340 and all these things and I'm like, why?

00:03:00.300 Like, what's the def, why don't you want employees?

00:03:02.780 Because it's a headache?

00:03:03.840 It's probably a headache because you never learned

00:03:05.540 the right way to hire people.

00:03:08.180 And maybe you got people on your team that shouldn't be there

00:03:10.240 or you're not managing them properly

00:03:12.580 and maybe you're not a good example as a leader.

00:03:14.880 But that's the second skill that really needs to develop

00:03:17.660 and understood and figured out for you

00:03:19.500 so that people feel a sense of belonging

00:03:22.060 and excitement and purpose in working with you

00:03:25.100 and your business.

00:03:25.940 So that's two.

00:03:26.840 Three is all about communication.

00:03:29.800 I think that a lot of entrepreneurs,

00:03:32.180 they can bring their cousins or whoever into their team,

00:03:36.480 but they don't know how to develop a plan

00:03:38.380 or a strategy or outcomes.

00:03:40.420 And they don't know how to communicate those things

00:03:42.340 to the team, so they get frustrated

00:03:44.640 because they're like, you asked me for this.

00:03:46.120 And it's like, yeah, but I didn't mean for you to do it now

00:03:48.020 and you didn't do it right and why.

00:03:49.680 You know, and those are all challenges

00:03:51.740 with clear communication.

00:03:53.480 So the more you can dial in your skill,

00:03:56.320 refine your ability to send emails,

00:03:58.080 refine your ability to communicate verbally,

00:04:01.120 refine your storytelling, your presentation style,

00:04:04.360 those are all incredible micro skills to develop

00:04:08.040 to help at a grander scale communicate better

00:04:11.140 within and within outwards of your business.

00:04:13.900 So that's three.

00:04:14.800 Four is all about thinking big.

00:04:16.700 But here's the key, it's not about thinking big,

00:04:18.540 you know, because there's a great book called

00:04:20.200 The Power of Thinking Big.

00:04:22.080 It's about thinking big and holding it, okay?

00:04:25.220 The best entrepreneurs that I've worked with

00:04:27.580 not only can communicate a big vision,

00:04:30.460 but they're able to hold that long term.

00:04:33.560 Not I'm excited Monday and on Tuesday

00:04:36.120 I feel like I'm doing the wrong things.

00:04:38.560 It's that constant ongoing focus on big, okay?

00:04:43.360 And being able to hold that space

00:04:45.440 and keeping that connection with the passion

00:04:47.400 and the vision for your business

00:04:48.800 so that as you interact with people, they feel it.

00:04:51.380 You can't help, if you meet somebody

00:04:53.140 that just has a big vision for their business

00:04:55.640 and their life, you can't help but feel it.

00:04:57.840 Most people, when I think about millionaires,

00:05:01.120 and it's not really about the number,

00:05:03.240 it's more about the person you gotta become

00:05:04.880 to achieve that number.

00:05:05.980 See, that's the crazy part.

00:05:06.880 People think, well, you're all about money.

00:05:08.460 It's like, I'm not about money.

00:05:09.860 I'm about you doing the work to become the person

00:05:13.020 who achieves that result.

00:05:15.120 And I know that the person that goes from, you know,

00:05:17.720 small, medium, large to big company,

00:05:20.360 they're different people along the way.

00:05:22.060 They're different skill sets they need to develop

00:05:24.300 and it pushes you.

00:05:25.440 Entrepreneurship is the ultimate

00:05:26.900 personal development program, right?

00:05:28.640 If you wanna increase your revenue in your business,

00:05:30.200 go look in the mirror and ask yourself these questions.

00:05:32.740 How am I doing on these six skills

00:05:34.740 to really progress and learn as an entrepreneur?

00:05:38.140 So the fourth thing is you need to think

00:05:40.340 and hold big thoughts, okay?

00:05:42.980 Keep those in your mind ongoing.

00:05:45.180 The fifth thing is understand numbers.

00:05:48.580 You know, many entrepreneurs, when I talk to them,

00:05:52.320 they would rather just not learn about how to read

00:05:55.020 the financial statements.

00:05:55.920 They don't wanna understand it.

00:05:57.100 They don't feel like they have to do it.

00:05:58.700 And I'm telling you, if you wanna become

00:06:00.200 a great entrepreneur, you need to be able to pull a P&L.

00:06:02.760 You need to be able to understand how to read your financials

00:06:05.000 and you've gotta be able to ask your accountant.

00:06:06.680 Your accountant's job is not to run your business.

00:06:11.140 If you don't spend the time with your account,

00:06:13.880 with another entrepreneur that knows how to read financials,

00:06:16.180 if you haven't read the book Simple Numbers

00:06:18.140 by Greg Crabtree, go get it, read it, understand it.

00:06:22.620 It's just something that, it comes either through

00:06:26.080 a bad situation or through progressive learning.

00:06:30.200 You either decide to learn it,

00:06:31.300 you're gonna be forced to learn it,

00:06:32.320 but I guarantee there's no entrepreneur

00:06:34.000 that's ever built company at scale

00:06:35.900 that didn't learn how to read the numbers

00:06:37.840 because at the end of the day,

00:06:39.540 Nobody else is accountable for that.

00:06:41.480 They might be accountable for reporting,

00:06:43.140 making sure everything's put in the right box,

00:06:45.220 but they're not accountable for how those numbers

00:06:47.340 are performing over time.

00:06:48.480 That's your job as the entrepreneur.

00:06:50.660 The sixth skill that I wanna share with you is,

00:06:53.920 and one of my favorite things, and look,

00:06:55.660 as an introverted type developer, technical person,

00:06:58.320 when I started off, I taught myself how to code at 17.

00:07:01.500 I didn't wanna talk to people.

00:07:03.220 The sixth skill is learning how to sell.

00:07:06.300 How do you communicate through verbal words,

00:07:10.440 through written word, through presentations,

00:07:12.740 through storytelling?

00:07:13.900 How do you learn how to sell?

00:07:15.640 Sell your ideas, sell your vision, sell your product,

00:07:19.140 sell somebody on joining your team,

00:07:20.980 sell an investor on investing in your company?

00:07:23.860 At the end of the day, the way I think about sales

00:07:25.760 is it is the transfer of enthusiasm.

00:07:28.420 If you don't learn how to communicate,

00:07:30.060 it doesn't mean you have to be over the top 0.85

00:07:32.020 and loud and crazy, you know, like me.

00:07:34.900 You just have to learn how to communicate a vision

00:07:40.240 that's clear, concise, and there's structure to selling

00:07:44.280 that gets people comfortable.

00:07:45.940 And how do you ask questions that gives you the answers

00:07:49.620 of maybe some of the objections that they might having,

00:07:51.820 and then gives you the opportunity to potentially

00:07:53.780 overcome them just because you forgot to say something.

00:07:56.680 Now a lot of people think selling is about

00:07:59.060 trying to con somebody else or get somebody to buy something

00:08:01.760 they don't need, and it couldn't be further from the truth.

00:08:03.520 The way I think about it is I want to serve

00:08:06.020 and my responsibility to my clients is to figure out

00:08:09.040 how do I communicate what I'm doing

00:08:10.960 so that they understand it.

00:08:12.880 Many times founders just don't know how to communicate it

00:08:16.020 and they're confusing their market.

00:08:18.560 They're confusing their clients and then they don't buy

00:08:20.960 and they wonder why.

00:08:21.800 It's because you haven't spent the time learning

00:08:24.040 the art and craft of selling.

00:08:26.240 And to grow a big business, to become a millionaire,

00:08:29.420 it's part of the game.

00:08:31.720 So real quick, those six skills are one,

00:08:35.460 you need to learn how to learn, how to unlearn,

00:08:37.560 become an auto dictact, read books, get around people,

00:08:40.720 learn how you learn.

00:08:42.060 Second, it's all about the people.

00:08:44.500 How do you hire, manage, and lead those people?

00:08:47.000 Third is to communicate clearly a plan, a strategy,

00:08:51.080 the actions, and hold people accountable to that.

00:08:54.300 Four is to think big and hold the space

00:08:57.180 and keep your mind focused on that big vision

00:08:59.280 and don't lose it.

00:09:00.820 Five is to know how to read your numbers

00:09:04.520 so that you can see if somebody's taking advantage of you.

00:09:07.020 You can understand if you're actually making profit,

00:09:09.900 not just revenue.

00:09:11.160 And then six, I want you to really spend the time

00:09:14.260 to develop your sales chops.

00:09:17.000 That is my ask of you, is to spend your time

00:09:21.000 on those six skills and then report back below.

00:09:23.500 In the comments, let me know which one of those

00:09:25.540 do you feel you gotta spend the most time on

00:09:27.740 to really become a bigger and better entrepreneur.

00:09:29.880 Again, look in the mirror if you're not where you're at

00:09:32.440 because that investment in yourself

00:09:34.460 is how you're going to grow your business.

00:09:36.520 With that, I hope this video finds you incredibly well

00:09:38.960 and I'll see you next Monday.

00:09:40.660 If you like this video, be sure to subscribe to my channel

00:09:43.100 for other videos on developing your skills as an entrepreneur.

00:09:45.900 I'd also invite you to join my newsletter

00:09:48.200 where I send out free training, exclusive contests

00:09:51.100 and other private events.

00:09:52.740 And also, if you want to get going,

00:09:54.140 I've got two videos ready for you right now

00:09:56.040 and I'll see you next Monday.

00:09:57.000 Cheers.

00:09:59.880 You

Dan Martell - November 13, 2017

6 Skills That Millionaires Master

Episode Stats

Summary

Transcript