Living The Red Life - Why You're Not A Millionaire Yet...

Episode Date: June 20, 2024

Why you're not a millionaire yet. The underlying reasons why many people struggle to become millionaires. Drawing from my extensive experience in the industry and coaching numerous clients, I highlight common pitfalls such as frequent pivoting, procrastination blended with perfectionism, and an excessive focus on minor details. Consistent action, rather than constantly switching ideas or seeking perfection, is crucial for financial success. The importance of having a clear and compelling way to present and sell one's product, as many entrepreneurs fail to effectively communicate their value proposition.There are also mental and attitudinal barriers that can prevent wealth accumulation. A lack of belief in one’s potential to become a millionaire can significantly hinder progress. This mindset, combined with an inadequate work ethic and a misallocation of effort, often leads to stagnation. I highly advocate for a shift in perspective, urging listeners to adopt a confident, hustle-driven approach to their ventures. By fostering a belief in their ability to achieve substantial financial goals and focusing on high-impact actions, individuals can accelerate their path to becoming millionaires.CHAPTER TITLES1:08 - Overview of reasons for not becoming a millionaire.1:44 - The dangers of changing ideas too frequently.3:00 - How striving for perfection and delaying tasks can hinder progress.4:50 - Importance of launching products without overthinking every detail.7:02 - Why worrying about others' thoughts can paralyze your actions.8:36 - Avoid getting bogged down by minor details that don’t impact the bigger picture.9:32 - Developing effective sales strategies and presenting your product clearly.12:09 - How self-belief and mindset play a crucial role in achieving financial success.14:03 - The importance of surrounding yourself with the right people and influences.15:16 - Setting ambitious goals and understanding their impact on your actions.16:23 - Balancing hustle and smart work for achieving financial milestones.17:33 - Distinguishing between working hard and working smart to maximize productivity.18:09 - Recognizing the essential components and strategies for business growth.18:30 - Final reflections on becoming a millionaire and key takeaways from the episode.Connect with Rudy Mawer:LinkedInInstagramFacebookTwitter

Most of you aren't millionaires yet because you don't believe you can be a millionaire. If you're trying to find love but then you think all men are pigs and you're closed off to the idea of finding love, you're probably not going to find love because you don't believe in the idea. So it's the same when it's like becoming a millionaire. Building financial spreadsheets and all that random stuff, it doesn't matter at the end of the day unless you've got a great product, it's presented well, you have a good way to sell it and then you get thousands of people to view it and see it and click and buy it. Think about what I said there. It's nothing to do with a logo, nothing to do with a business name, just those two things. You can hire people to do all

the other stuff. You can hire the finance guy to do the P&Ls. You can hire the HR person to do the hiring and onboarding. You can hire the designer to finally do you a nice logo. You can hire all these people because you became so obsessed on the things that make money. I guess that'll lead me to my last point on reasons you're not a millionaire is... My name's Rudy Moore, host of Living the Red Life podcast, and I'm here to change the way you see your life in your earpiece every single week. If you're ready to start living the red life, ditch the blue pill, take the red pill, join me in wonderland and change your life. What's up guys? Welcome back to another episode

of living the red life. Today we're going to talk about the real reasons you're not a millionaire yet. And if you're listening to this, I'm going to break down all the reasons I've seen after 10 plus years in this industry, coaching hundreds and hundreds of clients for all of our coaching programs, one-on-one coaching programs the common mistakes the common setbacks the common mindset issues and the common business issues that are stopping you from making the millions of dollars you probably want to make and impact in the millions of people that you know you can impact so listen up closely let's dive in to the real reasons you're not a millionaire yet number one the biggest mistake or one of the biggest mistakes I see is pivoting

and turning and stop-start and changing ideas all the time we have so many people in our coaching programs and people I hang out with and people I know and people I see events on a regular basis and guess what every time i speak something here to hear from them they're doing something new i'm like stop doing new until we make a million dollars it's very simple right now don't get me wrong i i have like a very short attention span as a kid i had a toy and then two minutes later another toy out the toy box and before you knew it my whole house had toys everywhere because i have adhd so i'm one of the worst for this but i at least stay in my businesses a few years and make millions of dollars before going on to the next thing so stop moving chopping and changing build

something build it to a million dollars because the first time you do it will be the hardest and then you can move on and do the next thing and it'll be easier and then the next million dollar business will be easier i've done like over $10 million businesses now, maybe more, like so many I literally have lost count because every time I get better and every time they go faster, right? So yeah, that's the first one. Second one, big, big problem. And I had this big problem for probably, oh, at least three or four years. It's painful looking back oh, at least three or four years. It's painful looking back. I literally lost three or four years of my life.

But this is why I'm here doing this podcast for you. So you don't hopefully lose three or four years of your life. The biggest next problem is procrastination blended with perfectionist syndrome. There's probably like the most toxic, bad combination you can have as an entrepreneur. And sadly, I mean, a lot of us have it. It's like when you have this perfectionist syndrome and you procrastinate and do all these random things and you don't know better when you start, that's the sad reality. So like listening to podcasts and stuff like this is probably the only way and having mentors and stuff is the only way to probably shortcut this.

You're still going to do some of it, but you're probably not going to do it at the level I most people do it, right? Which is years and years. Hopefully you just do it for a few months. So what I mean by this is a perfectionist syndrome. So everything has to be perfect. The logo, the website landing page, the design, the business cards. And I'm talking from experience, right? Like I remember sitting

in my dorm room in college when I was launching my first big fitness business, probably redid the website three times before I even launched it. I think I worked for hundreds of hours on a freaking business card. And then logo for sure. I had like this logo contest on like 99 designs and it's like $500 which as like a 19 20 year old college student 12 years ago was a lot of money it was a ridiculous amount of money to be spending on a logo and then I had to get t-shirts printed and before you know it's like half a year later you have like a couple of websites no one's ever seen them apart from your friends and family these nice shiny business cards and

even that you know defining the different business anyway i procrastinate back to the point right is don't be the person that spends hundreds of hours or weeks or months on all these little things and we see this with the members in our programs that are least successful and grow the slowest it's because of this reason they'll be like we'll meet with them every week we'll say okay next week you're gonna get back you know get some banners done and work on this landing page and then they come back and it's just like this perfectionist syndrome and they procrastinate on all these different things and it's like all the successful people i wish i could show you it's like idea launch something build a page, get it up and just get it live. And people like Grant,

me, Ty Lopez, all of these famous marketers, we don't even make logos for half of our new products. And some of our landing pages are just like, you know, very basic click funnels. You kind of have a copywriter, write them that day and send an email to your list the next day. And I know this because I've done this for years. I've worked with all the big gurus in this space. Many of them have been business partners and are friends. And I know how we all operate. We all operate the same way. I promise you. It's like idea. That night we type out an email, send it to the list, test it. And it's funny because when you sign out, you're literally the the opposite you'll spend months on the design and procrastinating on the copy and trying to figure out the tech so stop all of that just like get it going just start testing it right and um i think we have this like belief in our head when we start

that everything's like set in stone right so it's like oh if you launch this landing page and it's not that good or it doesn't do that well or the copy is not quite right, everyone's going to remember forever. And that's just not the reality. Like I care less now about what people, you know, think of me on the internet than ever before because people forget. Like people forget the great things you do. People forget the crappy products, landing pages you launch and the failed authors. And they forget the social media posts that you spent 27 hours creating and procrastinated for three weeks posting because you didn't know if it was too controversial or not. They don't care. They're so focused on their own life,

they forget. So yes, procrastination and perfectionist syndrome is very, very bad. And that kind of leads me to number three, which I was alluding to here, which is caring so much about other people that you don't do the thing that you want to do or the thing you think you should be doing. Okay. And I kind of led into it by saying, you know, you care so much about what other people think. So many entrepreneurs aren't successful because they're like so worried about launching a product or putting this social media post and they're like Paralyzed by whatever people might think or if people like their logo or their product name and I speak to these entrepreneurs I'm like no one cares. They don't care just just launch the damn thing right and don't care about other people and I mean we have to get it out of ourselves like we think everyone's

so obsessed with us but they're really not people are so busy in their own life and you know even if you look at celebrities you have this like cancel culture stuff nowadays like Will Smith's a good example right probably one of the biggest celebrities in history for like the cancel culture stuff with the famous slap everyone cared for a week or even probably a month right dragged on for a long time but and he went underground for like the last year uh but you know after a year after a year or you know if people still talk about it if they mention him but it's like people move on right there's more drama there's more gossip so don't care about what other people think do what do you get on with. Don't worry if the part of the landing page, the image isn't quite right.

Like all those things that would used to have stopped me launching. It's like just whatever. We'll fix it when we go. Okay. So that's number three. Number four, very important, is sweating the small stuff. And I've kind of talked about it with perfectionist syndrome, but I want to make it very clear. I see a lot of people and they're like, they literally all spend a week trying to plan the product name, right? Whereas

I come up with it on a Zoom call mid-meeting, or they'll spend a week on like trying to think about what is the best CRM or email server to use, right? Or they'll spend a week on like, should I use ClickFunnels or GoHighLevel? And I still use ClickFunnels, by high level? And I still use ClickFunnels by the way. And so they'll spend all this time like thinking about all these little things, sweating the small stuff, not focused on like, how do I make a million dollars? How do I sell this? How do I launch this? How do I get people to it? What's the next product I'm going to launch? So stop sweating the small stuff. Stop looking at all these little details that only you care about. That's remember the perfectionist syndrome kicking back in and just get on with it. Okay.

Next thing, number five. Most people don't have a great way of selling their products. Okay. And what I mean by this is I speak to people and 90, you know, this is one of my superpowers and what people pay me a lot of money for you know someone just paid me 50 grand today to meet with me once a month so I generally charge about you know five grand an hour because one of the superpowers is in five or ten minutes I can ask someone okay what do you do and then they tell me and I go okay why is that special okay great and

then we kind of go through a few questions. And then I kind of pull out like what they really need to actually sell how to position themselves. You know, that would be what you know, me and a lot of great marketers, that's one of our superpowers is the ability to turn something and make it super sexy, right to the audience. Now, most people don't have this skill and they don't bother hiring someone to help them with this or learning the skill themselves. So they're selling all this mishmash,

all these things that aren't clear, right? And it's kind of like, what you have to understand is a lot of you might have a Lamborghini or a Ferrari as your product, but right now all you have is a bunch of metal and some rubber and electronics. And you're trying to sell a Lamborghini for $300,000, but it's not a Lamborghini right now. It's like all these random pieces at a scrapyard and someone's like, what the hell is this? And you're going to try and explain and tell them how it's going to be a Lamborghini. It's just they

don't get it. And they don't trust that it's going to be like that. And they don't have enough time to listen when they have a few seconds to look at your landing page or your ad. So figure out how do I present what I'm selling so it's very clear, it's very to the point and it's like a Lamborghini because if I go out on Miami South Beach, walk out my office now, I'll see a Lamborghini within a few minutes probably, right, or a Ferrari and I know as soon I see it, that it's a Lamborghini or a Ferrari, right? And even if you're not into cars, I'm not a big car guy, but even if you're not into cars, you know it's an expensive sports car or supercar, right? Because it's very clear what it does and what it means. And even if you're not into cars, you know that person's probably rich, right? So it has an identity linked to it very quickly. Okay. And you probably know that car's

very fast. That car's very expensive. That car's luxury. It's a designer brand. You know, all these things, whether you're into cars or not. Okay. So think for yourself in your business how do you get it there okay so next thing this is a bit different right moving away from the marketing side a little now most of you aren't millionaires yet because you don't believe you can be a millionaire and this isn't your fault this is everyone goes through this like i had to believe you know and i teach this a lot i had to believe i could become a millionaire in order to become a millionaire. Now, you can become a millionaire even if you don't think it's quite possible very slowly or if you have a lot of luck and an amazing product. But most of the time, the people that will become millionaires much quicker and make a lot of money quicker are the

people that are open to that opportunity, right? So another great example of this is if you're trying to find love in a relationship but then you think all men uh you know all men are pigs right or you know or all women you know aren't going to be a good you know mother to your child and you're closed off to the idea of finding love you're probably not going to find love because you don't believe in the idea so it's the same when it's like becoming a millionaire. Until you get to a point in your mind, and you can't fake this and just tell yourself this, it has to be true intrinsically and consistent. But until you get to a point in your mind where you truly believe you deserve to be a millionaire, you're smart enough to be a millionaire, your business

idea is good enough to make a million dollars, and that a million dollars isn't that much money because I grew up from a small town in England and I for sure thought a million dollars was a lot of money. And what that actually made me do is it made me push out my goal because I thought it was so hard to achieve. So a bit of backstory to emphasize this point. When I started in England as an entrepreneur in my late, you know, 18, 19, 20, 21, 22, I had the goal of becoming a millionaire at 40. Why? Because I didn't know any millionaires. There was only a few in my city, like, and they had businesses for 20 years they'd been grinding on. So it seemed so far out. And because of that, I wasn't doing any action to get me to become a millionaire quicker. I was literally doing what I would have to do to become a millionaire quicker. I was literally doing what I would have to do to

become a millionaire 20 years from now. And then I moved to America, hang out with people making a bunch of money and seeing how, you know, it's not as complicated of building this like 20 year company. Then I, because I'm, you know, a little confident in myself, this is easier for me, but I go, well, if they're doing it, I can do it too. I believe in myself and have a lot of confidence. I'm like, and half the time I'm like, I'm smarter than these people too. And I work harder than these people.

So that really helps me collapse my time. And that's one of the hidden benefits of being very confident. And then guess what happened? I became a millionaire in my mid twenties20s instead of 40, right? And I always joke about cars, like I have a bunch of cars and I've had sports cars and all that jazz and I don't even drive anymore. Still my favorite car that I still own that I never drive is a Range Rover Sport because back when I was in England at 19, 20 that was my dream to become a

millionaire at 40 and have a Range Rover because that was like the top car in my city. You never saw a Lambo or a Ferrari or anything. So I had to, and you know, luckily I moved and found the right people that helped drive that forward. So you have to do whatever it takes. And I gave you some examples of being in the right rooms, the right environment, moving, getting in masterminds, coming in and hanging out with people like me, people that are going to push you and expand your mind and help you believe that you should be a millionaire, that you deserve to be a millionaire, that a million is not that much and it is achievable much faster than you probably believe if you do the right things and take the right actions. Now, don't get me wrong, it's not easy

still, right? And obviously only a small percent get there, but it's within graphs way easier than you probably think, okay? And until you understand that and believe that, you'll never become a millionaire, okay? You'll always play small, do small things, not take risks and build everything around the small idea in your head of how much money this can make versus, you know, the billionaires and the crazy people that build these crazy big companies. It's because they start off crazy. They believe it's going to be a billion dollar company.

And that's all they believe. They don't believe it's going to be this tiny thing. And then lo and behold, they go and build the billion dollar company. So the next thing that's stopping you from becoming a millionaire is that you don't believe you can actually become a millionaire. So it's like you're never going to be able to swim if you think you're going to drown. You're going to get in the pool and panic and drown and then the lifeguard's going to have to jump in after you, right? So you've got to believe that you're going to become a millionaire. Next thing that's stopping you becoming a millionaire is work ethic, right? There's this whole like debate on social media these days. Some people are like, oh, you shouldn't work weekends, blah, blah, blah. You shouldn't hustle as much. Then you got people like Gary Vee and Alex Amozi and probably me a little

where it's like, I do believe you should hustle. And I've hustled my whole life. And that's why I'm successful. And don't get me wrong. I love my life. I've enjoyed my 20s. And I have a lot of fulfillment in life, which I think is the goal. And I'm very happy. So you do have to hustle and work hard. And because of AI and the internet, like you can get way more done in less time, way easier than 10 years ago. But, you know, I do believe a lot of people lack the hustle, right? They lack the grind. And, you know, it's probably, it's not like it's unachievable if you just work a few hours a day, but it's going to be much slower, okay? It's going to be a lot slower. And the more you work, just like anything in life,

the better you're going to get and you're going to get better much quicker, okay? So I do believe that you need to have that hustle mentality. And I do believe you have to work hard. And I think I see a lot of people that tell me they work hard and I look at them and they're lazy, they're unctive they're always late they start the day late they don't work that hard okay and even some of the ones that do actually hustle when i watch what they do they're like on instagram social media doing these random things it's not smart work so you have to hustle and you have to hustle on the right things it's very very important that not only do you hustle but you have to hustle on the right things. It's very, very important that not only do

you hustle, but you work on the right things. Okay. And I guess that'll lead me to my last point on reasons you're not a millionaire is you don't know what it takes to grow a business. Okay. No one teaches this in a business degree. Right. So it's like you have to understand in order to grow. And it took me a long time to realize this too. But you have to understand the key fundamentals when it comes to growing a business. And it's not that complicated, okay? But in business school, you learn all about these spreadsheets and projections and all that jazz. And you learn all this old book language about unique selling points, probably, and branding and, you know, all this outdated stuff, most of which is taught

in business school by people that have never become millionaires and never built real businesses. Obviously, nowadays, you do get more business lecturers and guests that have built great companies, which is good. But when you look at what it really takes to build a company and you break it down, it's very simple in my eyes. First, you need a good product, and then you need the product clearly presented and selling in a sexy way, right? So you've got to take your good product, and instead of being a bunch of metal and a pile of junk, make it look like the Lamborghini, so it's obvious that it's a Lamborghini, okay? Now, once you've got that, you need people to see that you have a Lamborghini for sale. So you need to take it out of its garage and go and drive it around South Beach with a for sale sign on it. That represents

traffic, okay, people. And you need to be able to invest in money or time or both to generate that traffic, okay? So you need to run ads, you need to create social content, you need to get people to promote it for you. But it's an irrefutable fact that you need more people to see your products and service and when I realized that 10 or so years ago maybe eight years ago like I fully understood this that's why I came all went all in on ads and became an ad expert because I realized traffic is like it's the thing to rule them all right like you can have a good product you can spend months making it, right? Like you can have a good product, you can spend months making it, manufacturing it, developing it.

You can have a great website, but like if I understand and master how to generate millions of views or clicks, then I can run any business I want ever, right? So I really obsessed over that and now I'd say I'm pretty good at it. So you have to build your product, make it sexy and stand out and clear what it is,

then drive lots of people to it. And if you just really focus on those two fundamental things, you know, building financial spreadsheets and all that random stuff, it doesn't matter at the end of the day unless you've got a great product. It's presented well, you have a good way to sell it, and then you get thousands of people to view it and see it and click and buy it right like if you just focus on those things don't and if you think about what i said there's nothing to do with a logo nothing to do with a business name nothing to do with blogs all the stuff that we do that doesn't really matter when we start nothing to do with business cards right nothing to do with all these members areas on the back end it's like just those two things you'll be come way more successful then don't get me wrong all the other things around it that I said don't matter do eventually but you

now may so focus on revenue generating and these main real things that you can hire people to do all the other stuff you can hire the finance guy to do the P&L she can hire the HR person to do the hiring and onboarding. You can hire the designer to finally do you a nice logo. You can hire the tech person to fix the image that's glitched on the website that, you know, upsets you every day, right? You can hire all these people because you became so obsessed on the things that make money. So there you have it. Why are you not a millionaire yet? And hopefully some eye openers or reminders or gentle reminders, friendly reminders and nudges on what you're probably

doing that's wrong, that's causing you to not be where you deserve to be in life and you think you should be in life, which I know is probably a lot of you. And I hope you found this beneficial. So until next time, take care and keep living the red light you