How I Made My First $10 Million (COPY MY PLAN)

at the age of 25 I'd made my first million it wasn't school that gave me my education about investing my teacher was the roller coaster of life it came to me one day when my boss asked if someone wanted to help install a staircase when we got to the house I was shocked he had it all granite countertops Persian rugs and a collection of supercars I'd look out the window and see the owner relaxing or practicing his golf swing when I talked to him he only chatted about his personal hobbies and never his businesses I asked him what's the secret to your success he tapped me on the shoulder and said Mark if you can't make money while you sleep you'll work until you die this is now known in the modern day as passive income that was the moment I decided I needed to join the top 1% of men I'd like to retread my journey with you today it's very clearly broken into five different stages just like a video game and at each individual stage I learned something imperative to my future success you'll learn what I focused on as a hard-nosed businessman what obsessed about in the world of investing and most importantly the many mistakes I made along the way that have made me the successful person I am today stage one The Awakening this is when I went from Z to $20,000 my journey started as I emerged from my mother's womb and my first words were which stock should I buy just kidding like most people I was pretty clueless about financial education as a kid but I had the spirit of hustling me one of my earliest memories of Entrepreneurship goes back to when I was selling fish door too just imagine wiping the Sleep dust out of your eyes at 4: in the morning heading down to a freezing pier and sitting for hours until you'd caught enough mackerel to sell for a profit not only that but grabbing a slimy fish from a bag ringing a doorbell looking a person straight in the eye and pitching to them this built

up my confidence and self skills two of the earlier skills I needed to learn to be successful as I earned I soon found that any money I made wasn't really mine instead it was go to places like McDonald's and the girl I happen to be dating I always seem to have just enough this is called lifestyle inflation the tendency to spend more as you make more whatever you earn it becomes your new

Baseline and that's the Trap but being a car fanatic I've always dreamed of owning a Ferrari I felt as if they sent such a strong signal to others that you've made it I'd often speak to my friend Paul who worked as a valet parking cars for the Rich and Famous he once told me something that changed my perspective on Lu lues he said when people would drive up to the hotel in their Ferraris they would watch me gawk and love every moment of it I'm sure they felt admired important even respected but actually you know what Mark I didn't care about them or even notice them instead I thought wow if I had that car people would think I'm cool and I wonder how many people buy these cars without realizing that people rarely give the driver a moment's thought I leared that no one would be as

impressed with my possessions and luxuries as much such as me people want to be respected and admired by others but competence intelligence and kindness will bring you so much more respect than horsepower ever will with all the information out there on the internet about how to make money or get rich quick it can be hard to separate the truth from the marketing internet gurus have been getting wealthy for the past decade telling other people how they can get rich and there's a whole industry out there based on fantasy but the truth is wealth is not always what you see but what you don't see I decided Ed instead I'd quietly follow my own path to wealth but in order to do this I needed a budget is knowing where your money will go versus where it went

little by little and for the first time I started seeing my savings account go up I started building an emergency fund basically money for a rainy day I didn't know exactly when or why it would rain only that one day it would one day my boss approached me and ordered me to start making wooden trash cans I made trash can after trash can the hours would just crawl by so slowly I went to my boss and asked him how long I'd have to keep doing this until the order stopped coming in which is probably never he said and I felt so deflated although I was saving money I didn't feel passionate about what I was doing but I wasn't thinking big enough after all I didn't care about luxury so why would I need more money then it hit me I

realized that control over your time is the greatest thing money can buy if I had passive income I could spend my time doing the things I really loved the problem is it takes a lot of time or money to start making enough passive income to become financially free we spent thousands of hours every year working in the pursuit of money so I asked myself what was I truly passionate about I had a burning passion for radio control models and I noticed many people in this industry were making a lot of mistakes I saw the true potential and the ways that I could improve on what had come before me I once read in a book

that if you could identify a problem and you had a better way of doing things you could turn it into a business stage two the hustle this is when I went from 20,000 to $100,000 so I got to work I was so excited about my business plans that I shared them with a close friend and Confidant and to my shock the unimaginable happened he stole my idea and set up my entire business for himself but before I get into that first I'd like to thank today's sponsor. com let's be honest 2022 has been a pretty volatile year for the stock market and that's exactly why our long-term sponsor public. com wants to help you become a better investor on public you can invest in individual stocks as well as ETFs all the while learning from notable investors analysts and top CEOs with their optional social features and town halls my favorite thing about public is they don't participate in payment for order Flow by selling your trades to market makers meaning they have no reason to incentivize you to trade more than necessary like some other platforms do on public you can invest learn and see what top investors are doing all in one place and the best part is for a limited time you can get a free start worth between $ and $11,000 with the link Down Below in the description anyway back to the story the reality is that I needed some money to pursue my dream but my savings just weren't enough I wasn't about to give up I drew up a business plan went to the bank and applied for my first loan it wasn't easy and I had to visit multiple Banks however eventually I secured the money I needed while some people earn their wealth investing in the stock market I reinvested the earnings from my businesses to open more stores and even buy back my original idea from my old friend I started to know more and more

people in the business World a lot of these individuals became my mentors and would teach me things like how to build a business that scales how to improve sales and how to manage people as my income grew and I solve problems I was not only growing my net worth but becoming a top 1% man as well as the good time continued I increasingly bet on them continuing which led to one of my most significant life crashes and moments of Despair I remember it like it was yesterday walking into the shop that I had initially started to give my father a job in his later years and instead of being greeted by the magical Emporium filled with all the toys that I could have only dreamed of having as a kid I was met with a smashed roof empty shelves and my products laying broken thrown across the floor this hit me so hard the memory has been seared into my subconscious and I sometimes still see it when I close my eyes you may think it's all right Mark I know you I bet you had Insurance everything was okay and you bounced back well in fact I'd grown so fast and I was making so much money that not everything was correctly structured within my business although we were insured I'd forgotten to update it with all the new stock that we had acquired since the opening of the store but the disaster doesn't stop there it gets even worse I got a phone call a few days later and one of my staff informed me that another two locations had been hit luckily one of these attempts was unsuccessful on my flagship store as they couldn't break through the door however they driven a truck straight through the side of the store that was responsible for serving the entirety of London and the damage was horrendous let alone the stock that we

lost that's when I learned about the balance between risk and reward see making money requires taking risks operating quickly and putting yourself out there but keeping m requires the opposite it requires humility and fear that what you've made can be taken away from you just like that once you lose 95% of your money you have to gain 1,00% just to get back to where you started taking too much risk can bury you so deep in a hole it can be nearly impossible to get out of I even started to move my operations online to adapt to The Changing Times stage three the Trap this is when I went from $ 100,000 to $1 million I realized that one of the biggest problems people face is when they turn their passion into a vehicle to accumulate money they are now reliant on it to fund their lifestyle leading to

their passion becoming their prison I mean the biggest bottleneck in my business was actually the business owner me as the business got bigger and as we tried to move it online so did the number of problems complaints and things to worry about it always seems like as soon as I solved a problem another one would soon follow don't get me wrong only and running a business is great especially if you're passionate about it but it isn't as easy or as passive as a lot of people make it out to be I've read a lot of books on investing studied the techniques of Warren Buffett and come across John bogle's book about common sense investing it shocked me

when I learned that 80% of active fund managers actually underperform the S& P 500 Index diversification is important and by investing in the S& P 500 which is a basket of 500 three stocks I could earn a steady growth that grows along with the US economy my goal was to have enough money in the S& P 500 that in the worst case scenario I could withdraw up to 4% per year in order to live off my investments while still grow my portfolio by sticking to my guns I was

able to avoid suffering from the Internet stock crash of 2000 early on in my journey I learned that the losses felt massive whereas the profit seemed so slow there's an old saying stocks rise like an escalator and crash like an elevator and this couldn't be more true I kept dollar cost averaging and adding to my stock portfolio even as the Doom crash continued I was getting more and more shares of the index fund at better and better prices as a qualified pilot I draw this parallel hours and hours of uneventful flight followed by moments of sheer Terror but it's these moments of sheer Terror that make up the majority of your Returns the way I conducted my finances during the dot crash and the 2008 financial crisis gave me more returns than any investing I had ever done before stage four the refinement this is when I went from1 million to $10 million as my wealth grew it seemed like the Matrix was creating more and more Temptations to take my money away from me having savings gives you a lot of options like going to a buffet where you can have every dish you've ever wanted in the previous stages once I'd surpassed $100,000 in yearly earnings I was considered an accredited investor which is both an exciting and a dangerous place to be I fell into the Trap of investing in various penny stocks which initially was very successful however I went on to lose $330,000 with a couple of bad trades after this I created a rule for myself

to only invest in things that I fully understand unless it's an experiment with a small amount of capital that I'm not afraid to lose it doesn't matter whether you're investing in nfts stocks or a relationship I learn to always do my homework and take the time to understand every opportunity the thing I understood more than anything was my business I wanted to really push forward so I flew out to America on a bit of a whmp to see a friend on the promise that he would help me to restructure my business from serving customers B to C to servicing other businesses B2B as

well he taught me that by focusing on selling to businesses I could increase my number without having to deal with so many people this is known as the 8020 principle I learned that I could focus on the 20% of things that produce 80% of my income I traveled abroad to China and Japan where I learned about the idea of lean manufacturing which I related to my everyday life I started cutting anything unnecessary out of my business and personal life so I could focus on what gave me the most meaning and results through this I had finally achieved multi-millionaire status but it felt kind of empty and that's when I had a revelation that changed my life forever stage five the Revelation this is when I went to $10 million and Beyond this brings me to where I am today I thought about which Investments were most important to me in my life and I

realized it was the relationships with my family and friends you will be the same person in 5 years as you are today except for the people you meet and the books you read I started thinking about how to pass the torch and I taught myself son Curtis about Finance we started this YouTube channel together as a way to educate the younger generation from the perspective not of some rich influencer but as a guy who did it with passion and a bit of elbow grease I started spending more time enjoying the little moments appreciating what I have and what I've worked for and fostering quality relationships the final stage for a lot of people later in life is philanthropy some people like Bill Gates start foundations others like Ray Dario write books this is my form of giving back when I reflect on my journey getting here I'm proud of everything I've done I still hustle hard but what

is really meaningful to me is being able to share my knowledge and inspire a younger generation to go after their dreams and Achieve success so I'm going to leave the next video right up there but don't click on it just yet make sure to subscribe if you want to grow your wealth okay I'll see you over there