Dan Martell - April 12, 2025


If you want financial freedom in 2026, watch this.


Episode Stats


Length

9 minutes

Words per minute

224.51823

Word count

2,202

Sentence count

123


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

7 Principles of Financial Freedom: How To Build A $100M Billion Dollar Business Empire by 27 years old. 1. The 24-hour rule 2. Name your number 3. Develop a 6-figure skill 4. Get Obsessed 5. Build your Six Figure Skills 6. Avoid the Biggest Financial Mistake 7. Get Oozed

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 By 27, I went from flat broke to a cash millionaire.
00:00:03.100 And today I'm blessed to run a $100 million business empire.
00:00:05.940 So without further explaining it,
00:00:07.260 these are the seven principles of financial freedom.
00:00:09.400 Which brings us to principle number one, the 24-hour rule.
00:00:12.760 What most people do when it comes to money
00:00:14.560 is they bury their head in the ground.
00:00:16.180 What I do that's completely different
00:00:17.720 is I get a daily cash report of all my companies,
00:00:21.040 especially my personal bank accounts, on where things sit.
00:00:24.120 I need to have a live dashboard of the financial reporting
00:00:27.660 of all the companies that I'm involved in
00:00:29.300 so I have a heartbeat on the business.
00:00:31.520 My rule is I check every 24 hours
00:00:33.720 because I learned a long time ago,
00:00:35.020 if I build my personal net worth sheet
00:00:37.320 and I understand what my net worth is,
00:00:39.080 then I focus on active income that becomes equity.
00:00:42.060 Now, back when I started,
00:00:43.140 I used to have the bank asking me for these things
00:00:44.980 anytime I want a loan.
00:00:46.120 Now I have a spreadsheet that I update every week.
00:00:49.120 I know exactly where my money is,
00:00:50.840 what my assets are, what my liabilities are,
00:00:52.920 and make sure that I'm building on it.
00:00:54.740 So every year I can literally see how it increases
00:00:57.740 is because I'm making good money decisions
00:00:59.520 because I know exactly where my money is.
00:01:01.520 Now that you know the starting point,
00:01:03.040 it's time to figure out where you're going,
00:01:04.760 which brings us to principle number two, name your number.
00:01:08.060 What is financial freedom for you?
00:01:10.340 How much money would you need every month passively
00:01:13.200 to feel comfortable,
00:01:14.720 to feel like you don't have to show up
00:01:16.700 and do things you don't wanna do,
00:01:17.920 to feel secure, to feel at ease with yourself?
00:01:20.860 Understanding that number,
00:01:22.300 it might be 5,000, 10,000, 25,000 a month.
00:01:25.000 I don't know what it is for you
00:01:26.200 because it's different for different people.
00:01:27.740 Once you know it, now you have a target to go after.
00:01:30.200 Wealth is not how much money you have.
00:01:32.260 Wealth is a ratio.
00:01:33.640 It's how much you spend based on what you make.
00:01:36.220 If you make a million dollars a year,
00:01:37.580 but you spend one million dollars and a dollar,
00:01:39.820 then you're upside down by one dollar.
00:01:41.520 So here's how to find that number for you.
00:01:43.540 Number one, dream big.
00:01:44.880 I need you to picture a lifestyle
00:01:46.400 that would get you excited to get out of bed every day.
00:01:49.040 Number two, list every expense.
00:01:50.940 Think of all the cars you wanna have,
00:01:52.580 all the houses, the vacations, utilities, the food,
00:01:55.320 everything you're gonna need.
00:01:56.380 Number three, add it up.
00:01:57.900 Figure out per month what it would cost you
00:01:59.700 to pay for that lifestyle.
00:02:01.160 That is your target income to financial freedom.
00:02:03.520 Here's my favorite part.
00:02:04.620 Financial gold turns dreams into dollars.
00:02:07.320 But once you know your number,
00:02:08.580 it's time to build a plan to get there.
00:02:10.300 Which brings us to principle number three,
00:02:12.220 develop a six-figure skill.
00:02:13.980 There's this concept called specific knowledge
00:02:16.100 this guy Naval created,
00:02:17.440 and it's this philosophy of taking things
00:02:19.300 that you're good at and stacking it
00:02:21.000 with other skills you got to acquire.
00:02:22.720 If you don't have multiple things you're good at,
00:02:24.620 Then you're just a specialist that could easily be replaced by somebody else or even AI at some
00:02:28.660 point. You want to add a skill that's valuable to other people values so that you can be
00:02:33.080 differentiated and make more money. You can't save yourself to wealth. You need to increase
00:02:37.580 your earning potential. So these are the six figure skills that I think can make you the
00:02:41.720 most money. Number one is coding. Learning how to build is one of the most important skills in the
00:02:47.380 world. Software is eating all things in the future. Learning to build software is going to get you
00:02:52.320 paid. Number two is video editing. Every person is using social media to create marketing pieces
00:02:58.500 or get distribution or build their brand. So video editors are highly in demand, especially if you
00:03:03.440 pay attention to the art. Number three is copywriting, what we call words. If you think
00:03:07.660 about it, nothing has ever been sold unless somebody read something that persuaded them to
00:03:11.720 buy. Copywriting is how you do that and they're highly paid. Number four is sales or even sell
00:03:17.240 by chat. I have a guy on my team that makes over a million dollars a year in commissions just
00:03:21.720 chatting with people because he understands the art which is sales. Number five is AI automation
00:03:26.920 and you've probably seen this blow up on YouTube and social media, but it is one of the most
00:03:31.440 valuable skills that you could add to get paid to make the most money to build your six figure
00:03:35.620 skill. This next one will help you avoid the biggest financial freedom mistake, which brings
00:03:39.780 us to principle number four, get obsessed. When I was 17, I got out of rehab, but something happened
00:03:46.000 that changed my whole life. I discovered computer programming. There's just something about the code
00:03:50.280 and the way my brain worked,
00:03:51.520 that it just allowed me to focus.
00:03:53.400 It became my new addiction and became a positive obsession.
00:03:57.080 Without obsession, I wouldn't have been passionate enough
00:03:59.660 about learning the skill at a level
00:04:01.860 that made me good at it.
00:04:03.280 The key is to go all in on one thing.
00:04:05.980 Most people think they need multiple income streams.
00:04:08.240 That's actually the wrong approach.
00:04:09.940 Wealth creation requires concentration.
00:04:12.380 So I have this framework called the five ones
00:04:13.900 and it's going to help you concentrate on that one thing.
00:04:16.600 First is figure out what skill you wanna learn
00:04:18.800 and become the best at.
00:04:19.840 The second is find the product,
00:04:21.640 either you sell it or you specialize in it
00:04:23.800 that makes you valuable in the market.
00:04:25.840 The third is a customer type that you love to serve
00:04:28.840 with your skills or the product that you know really well.
00:04:31.700 Fourth is the channel.
00:04:32.880 How do you get people to be aware of you
00:04:34.840 that you're good at that thing?
00:04:36.120 Are you on social media, you're writing blog posts,
00:04:37.960 are you blowing it up on X?
00:04:39.600 And then the fifth is do it for one year.
00:04:41.980 Go all in on being the best, get the message out there,
00:04:45.040 learning the skill, talking to the customers.
00:04:46.980 And trust me, you go all in and you will get rewarded for it.
00:04:50.840 Distractions cost more than discipline.
00:04:53.000 If you just do less, but do the thing a lot, a lot of iterations and repetition,
00:04:57.680 then you will get rich because you'll be good at it.
00:05:00.420 That's how you build financial for you.
00:05:01.800 But after you start making money, what do you do with that money?
00:05:04.680 Which brings us to principle number five, start investing early in yourself.
00:05:09.240 I run a program called King's Club for Youth,
00:05:11.420 and I always get asked where people should start when it comes to investing.
00:05:14.800 And my answer is always the same, invest in you,
00:05:18.120 invest in the SME 500,
00:05:20.260 invest in the skillset to become more valuable.
00:05:23.120 Your personal income is tied to your personal development.
00:05:26.060 If you grow yourself first, your income will follow.
00:05:28.680 So there's only four ways to invest in yourself.
00:05:30.820 The first one's actually free, but you should pay for it.
00:05:33.420 Number one is to read books.
00:05:35.000 You can go to library, you can get free books,
00:05:36.900 but for $20, you can invest
00:05:39.240 in learning somebody's experience, expertise,
00:05:41.640 that they spent 25 years learning in a six to eight hour read i think it's one of the best
00:05:46.440 trades now the key is don't read the book study the book number two is to buy a course why should
00:05:50.840 you pay for stuff that's free on youtube because you could spend all your time trying to triangulate
00:05:55.240 all the different youtube videos and the systems in the process between seven or eight people
00:05:59.480 or pay the hundred to two hundred dollars to learn the very specific process that gets a result based
00:06:05.160 on the skill you want to learn number three is join a mastermind a group of people that are on
00:06:09.640 on the same journey as you now you might invest a thousand ten thousand dollars to join that
00:06:13.920 mastermind but your net work equals your net worth number four get a coach that was the one
00:06:19.680 decision that i made that caused me from going from failed company to failed company to finally
00:06:24.020 winning when i hired my coach bob now he wasn't cheap but he was worth every penny why having
00:06:29.780 somebody give you specific contextual feedback to your decisions and your outcomes and hold you
00:06:36.040 accountable to them will mean the difference between a failure and success. Which brings us
00:06:41.040 to principle number six, solve rich people's problems. Here's the reality. Low paying clients
00:06:46.360 are the worst clients. Instead of selling $10 widgets, think about how could you sell the
00:06:51.580 process for buying widgets to other people who sell those widgets? Sounds crazy, but my buddy
00:06:56.640 Marcelo, who's a billionaire, built a company called fair.com. Instead of selling one candle
00:07:01.500 to a person that came in a store,
00:07:03.080 he figured out how does he create a system
00:07:05.220 where all these stores buy the candles through him
00:07:08.100 and he sells billions of dollars of product every year
00:07:11.120 because he'd rather solve rich people problems
00:07:13.340 than poor people problems.
00:07:14.580 But how do you meet these rich people?
00:07:16.540 Here are three strategies that you can implement today.
00:07:18.580 Number one is a personalized message.
00:07:20.120 I can't tell you how often people try to cold email me
00:07:22.960 with no personalization.
00:07:24.640 It's almost like they don't know anything about me
00:07:26.660 and then they ask me for my time or for coffee.
00:07:28.740 My buddy Chris, who's been in my life now for five years,
00:07:31.500 cold emailed me very personal very genuine very unique and it caused me to respond number two is
00:07:38.000 create sample work do the thing you can help the person with before you ever get asked to do it
00:07:42.760 there's all these video editors or thumbnail designers or copywriters and they watch my
00:07:46.080 content and they're like i could do that for you you should give me a shot and i'm like just do it
00:07:50.000 send me a sample edit send me a sample email send me a sample of you actually doing the work number
00:07:55.540 three is pay for access. Events, masterminds, super powerful. But when you pay to go to these
00:08:01.440 things, other people in the room know that you're serious. My first event I ever went to is called
00:08:05.820 the Millionaire Mind Intensive. And I went with my brother. At 23 years old, I got exposed to ideas
00:08:11.100 that I didn't even know existed. Mindsets that were foreign to me. And what happened is I got
00:08:16.020 comfortable being the smallest person in the biggest room. And my whole life has been trying
00:08:20.440 to find bigger rooms to feel uncomfortable in. So I went to these events and that's where I met a
00:08:24.780 bunch of rich people, people that became customers of my businesses down the road. But this last one
00:08:29.660 is where most people get stuck, which brings us to principle number seven. Stop trading your time
00:08:34.240 for money. Here's the reality. If your business depends on you, you don't own a business. You've
00:08:39.260 got a job. 45% of business owners earn less than minimum wage. So I want to teach you how to fix
00:08:44.760 that. It's called the buyback principle. You don't hire to grow your business. You hire to buy back
00:08:49.520 your time. But the question I get is, what do I give up first? How does it make financial sense
00:08:53.980 to be paying somebody else to do something
00:08:55.540 that I could do when I don't have enough business
00:08:57.100 in the first place.
00:08:57.940 Here's how it works.
00:08:58.820 It's called the buyback loop.
00:09:00.280 So number one, you have to audit your calendar.
00:09:02.180 You gotta look in the last two weeks
00:09:03.320 for all the stuff that you could pay somebody
00:09:04.960 very little to do for you,
00:09:06.460 or that sucks your energy.
00:09:08.260 Put that into a bucket and go find somebody to do that.
00:09:11.340 Two is you gotta transfer that stuff to that person.
00:09:14.020 The way you do that without taking any extra time
00:09:16.560 is to record yourself doing the work
00:09:18.860 so that when you hire the person,
00:09:20.260 you give them the video recording
00:09:21.700 of you actually doing the work, talking through it,
00:09:24.160 so you don't have to train them.
00:09:25.620 Third is you gotta fill your calendar
00:09:27.280 with that new time you just got back
00:09:29.020 with things that make you money in the business,
00:09:31.760 like marketing or sales, that lights you up.
00:09:34.760 So what do you love to do that makes you a lot of money?
00:09:37.240 If you do the buyback loop,
00:09:38.640 you'll never build a business that you grow to hate.
00:09:40.900 You should aim to build a life
00:09:42.500 you never have to retire from.
00:09:43.900 So if you wanna learn the eight productivity rules
00:09:45.840 of the top 1%, click here, and I'll see you on the other side.