7 Skills of Millionaires

7 skills of millionaires. Now, success leaves clues. Uh, you want to stand on the shoulders of giants and you want to follow the trail blazed by others. Now, you wouldn't get a personal training session from someone who needed a triple quadruple heart bypass, so you should only really listen to people about skills of millionaires who are, who've been there and who've done it. Now, I've actually been researching for 16 years the skills, traits, and habits of billionaires. There's a bit of my own story in there, and I'm going to keep it really short because I want to drop the skills and the tactics for you. I've actually studied and researched over 16 years 19 habits of self-made millionaires and billionaires. If you'd like to go from zero air to not quite there to nearly there to millionaire or even to billionaire, then there are traits that are common in millionaires and billionaires and successful people. I've studied 19 and I've pulled 7 out for you in this episode. Now, context: free advice is worth every penny, and if you pay, you pay attention. Therefore, be careful who you take your advice from. Now, I don't really deem that I give advice. I deem that I share experience and guidance and my outlook on various things. Now, um, my vibe is to help start and scale up entrepreneurs, um, create multiple streams of recurring income, get better financial education and knowledge, leverage the creator economy and build their personal brand and monetize their their content across media. So these are the areas that I specialize in, and I have for 16 years now. I started £50,000 in consumer debt, $70,000, because I went to school, university, did my degree, did nothing with it. You know, had to pay for student accommodation, going out, my degree, built up debt after university, got credit cards to pay off credit cards to pay off credit cards. Got a job that didn't earn much money while I was thinking about what I wanted to do with my life. And then one day I woke up and I was nearly 26 years old and going nowhere, in quite a lot of debt. That's quite a lot of debt for someone who hasn't got children or mortgages or anything like that. And my dad had a massive nervous breakdown December 15th, 2005, and everything changed for me. That was the worst day and the best day in my life, and a big driver for me changing my life. Now, in a moment, I'm going to share 7 of 19 skills and habits of millionaires I've learned in the 16 years since that day, becoming a millionaire, then a deca-millionaire, and then having enough money to not have to count anymore. And also in studying the greats. I've interviewed 16, 17 billionaires, hundreds of millionaires, read 3,000 books on business, entrepreneurship, autobiographies of multi-millionaires, etc. Now, being a millionaire is not just about the money, it's the lifestyle and the choices you can make having the money. So the, the 7 skills and habits of millionaires I'm going to share before I finish the story is: number 1 is one actually researched by Harvard Business Review, you know, Harvard University. And I've actually really thought this for a while, but I'd not put it in these words. I'm going to share that with you. The next one is who you blame. The next one is probably the best lever in the world that can change the world. The next is about distribution. The next is about recurring income. The next is about how many income streams you should have. And then the final one is my big sexy, um, revenue prediction for 2021 that you could really leverage. So before I get into all of those, um, after my dad had his nervous breakdown December 15th, 2005, I went on this massive mission of personal development, studying every millionaire and billionaire that I could find, only in books at the start because I couldn't afford the courses or the masterminds or anything like that. I couldn't get any mentors because I didn't have the money. But you know, as I started to make a bit more money, I got a sales job selling properties. That got me into real estate. Fast forward now, I have 1,340 tenants across hundreds of units. We made £13,477,000 net profit in November '21, i.e., um, the month before last. It's on my profit and loss. I'll prove it. I'll put it on my Instagram stories for you. Um, I've made hundreds of millions in training and education in property and business. None of this is a brag, it's just a CV. A fact is a fact, the truth is a truth. This is the truth. Um, have a money podcast with 250 episodes. I have the Disruptive Entrepreneur podcast with, um, across my two podcasts I've got nearly 1,000 episodes. Interviewed loads of millionaires and billionaires, and here we are now. There's a few more bits to the story, but I just want to crack on with the content. But context is everything. Everything. So number 1 is what's called realistic optimism. The problem with being too much of a realist is you're skeptical, and when you're skeptical, there's a lot of fear of taking risk. But when you're an optimist and you're overly positive, you're not cautionary enough, you trust too easily, and you don't do enough diligence and research. So the ideal recipe for a millionaire or a billionaire is a realistic optimism. So at the moment, I'm realistically optimistic about the world. I'm pessimistically skeptical about what's happened with the government and the COVID and the lockdowns over the last couple of years. I think the taxes are going up, inflation is going up, cost of living is going up. I wonder if some of the mandatory things that were imposed upon us, the regulations, I wonder if they were right. And it does frustrate me, and I want to stand for supporting the small business and keeping the taxes down and not robbing our ability to trade and shutting us down. I feel strongly about that. By the way, I've just got Robert Malone agreed for my podcast, who's just fresh been on Joe Rogan, and he just got— Joe Rogan just got his content deleted on Twitter and YouTube by this scientist Robert Malone, who I've just got in for the Disruptive Entrepreneur Podcast. So I'm actually weighing up whether I should do it or not, because that might be the end of Rob Moore. Rob Moore got canceled. It's been nice knowing you. It was short-lived like magnesium. I remember in chemistry, used to light the magnesium and it goes big flash and then gone. Rob was here and then it was gone. Canceled. But you know, I do believe we should really talk openly about the decisions that are being made in the government. But the point of this is I can't control what the government do. I can't control what taxes are. I can't control regulations and mandates. So I have to take full and personal responsibility, which is success trait number 2 of millionaires and billionaires— full and final and personal responsibility. Proper millionaires and successful people blame no one but themselves. And if they blame someone, they take responsibility that that person made that mistake, and then they make that change, i.e., they let that person go, or they coach or mentor that person. So I'm realistically optimistic that in 2022 you can create multiple streams. Of recurring income from your content into cash flow, your information into income. You can start your podcast, you can multi-stream live, you can get in on Clubhouse, you can launch an NFT, you can maybe buy some land in the metaverse, you can create your own economy, your own creator coin, you can collab and joint venture and, um, do interviews with big creators. I'm really excited about all of that. But I'm realistic that there are going to be things that happen next year, or this year, 2022, that are going to be hard and going to be imposed upon us. So realistic optimism is the way to be successful. Too much negativity and too much positive— too much positivity, you don't do research, you don't do diligence, you trust people too quickly, you make loose mistakes, you're, you're too careless. Whereas negativity and skepticism— you're too careful, you're too skeptical, you don't take any risks, you hoard. The balance is where it's at. And you sort of have to be able to put two hats on. Oh, I have to be in skeptical mode, I'm doing diligence and research and background checks. And then you do your vision and your strategy and you meet your team and you do your leadership and your content, and you have to take the skeptical hat off and you have to put the positive big thinking dreamy hat on. You have to be able to play both, no matter what your personality trait leans towards, whether you're more positive or more skeptical. Now, my second trait and habit of millionaires and billionaires, which is full responsibility, is even if there's things you think are wrong in government, even if there's unfair rules and mandates and regulations, even if your staff screw things up for you, even if you get unfair criticism and trolling and hate, you have to take full, final, and personal responsibility for it. Because when you give the control to someone else, i.e., um, it's their fault, I blame them, therefore I can't control the outcome or the result or the solution because I'm blaming them— being out of control, human beings do not like that feeling. It's a very difficult place to come back from. Whereas when you take full and final responsibility, if you hired someone bad, you get rid of them or you train them. If you're getting loads of criticism, you either stop reading the comments or you listen to the criticism and you tweak accordingly and you improve. But you blame no one but yourself. You own everything. Full ownership. Now, I'll tell you what, it's not always easy to get there because people do mess things up, and there are things in the world that aren't fair, and there are things that happen to you that are unlucky and they're not fair. And I know that that's happening because I get it all the time. People close to me, they get diagnosed with stage 3 or stage 4 cancer. I was on in a club bathroom today and a lady's son, you know, died through lockdown. I mean, the worst thing in the world would be to lose your child, surely. But yet these people I know are still positive about life because they're taking control of their own feelings and emotions and decisions and mindset. And I greatly admire that. And that is something that you can do. And if you want to be successful, that is something you have to do. You can blame no one but yourself. Own it, change it. Own it, change it. Don't like the outcome? Have a little moan, it's okay. Go and do a live, fuck my life, fuck this shit, fuck the government. I do these rants all the time on Facebook Lives. Have your moment and then move on and change your course. Okay, so I'm covering here 7 skills and habits of millionaires and billionaires, by the way, If you're finding this content useful, make sure you're following me on whatever channel you're tuning in on. And please make sure you share my content if you do find it useful. I've interviewed 16 billionaires and I've got my 17th who's a billionaireess, my first billionaireess. Finally, the ladies love me. I interviewed the founder of Superdry worth $400 million, my friend Alfie Best worth $700 million, now he's worth $1 billion, people worth $100 million and $500 million and $700 million and $2 billion and $3 billion. And believe you me, we've got some big guests coming on the Disruptive Entrepreneur Podcast. Okay, number 3 skills of habit and habits of billionaires and millionaires is leverage. So they leverage banks' money, they leverage staff, they leverage outsourcers, they leverage social media, they leverage the information of mentors, they leverage the knowledge in books and courses. You know, a lever big enough can move the world. That was said by a philosopher, I believe. You know, they work smarter, not harder. They build a team. They have the ideas from crowdsourcing rather than just relying on themselves. I've probably just hit you up there with 12 different leverage points. I'm currently live on Clubhouse and Facebook and Instagram, so I'm leveraging multiple channels. Actually, I'm recording for my podcast, The Disruptive Entrepreneur, as well. So I've got leverage of this one piece of content into 4 different channels. Now the problem with entrepreneurship is anti-leverage in that I'm 43, I was 43 this week, yesterday, and my parents taught me work hard, work hard, hustle. Their parents were brought up in the industrial age, get on the factory line and work hard and hustle and work hard and hustle. And if you want to be successful, work 24/7, 365 for 10 years to be an overnight success. Sweat blood, eat glass. That's what they say. That's old school. That is old school. New school is leveraging the internet, leveraging social media, leveraging the metaverse, leveraging the creator economy, leveraging multi-stream live channels, leveraging the information on YouTube and books that people like me read, and leverage the information and knowledge on podcasts. So to leverage is to think, how can I work smarter, not harder? How can I achieve more with less? How can I think more than do? Use my mind rather than my hustle and sweat. Use my craft more than my graft. Okay, so that's number 3. And by the way, when you leverage distribution, which is point 4, you get a double win. So all millionaires have distribution, which means they reach many people. You're never going to be a millionaire with 3 customers, even if you sell them all a yacht, uh, and you're never going to be a billionaire with 100 customers. If you want to be a millionaire or a billionaire, you need to have distribution, which is channels to market, you know, partnerships and collaborations and communities and leads and clients. You need distribution. Apple has global distribution. Facebook and YouTube have 2 billion users of distribution. I'm currently distributing on the Disruptive Entrepreneur Podcast on Facebook Live, on Instagram Live, on Clubhouse as well. So distribution is what the millionaires and the billionaires have. Now I just mentioned my podcast. My podcast, The Disruptive Entrepreneur, is listened to in 204 countries. It's had and has tens of millions of downloads, downloads and subscribers. I've interviewed 200 and odd people, many of whom are millionaires and billionaires. I've interviewed Floyd Mayweather twice. I've been doing it for 6 years. I have about 1,000 episodes. So in the world of podcasting, that is massive distribution. It's not quite, um, Joe Rogan distribution, but I'm getting there. I'm okay. Joe Rogan's been doing this a lot longer than me. I'm doing all right. So I actually have a gift for you which is linked to this point on leverage and distribution. So it is the 6th year anniversary of my podcast, The Disruptive Entrepreneur, this week, like in the next few days, and I've been doing a lead-up celebration. So if you go right now to robmoore.com/pod, robmoore.com/pod, as in podcast. Link is pinned to the top on Clubhouse. You can go there now. I've just put the link on my Facebook Live, um, robmoore.com/pod. If you go there— I haven't finished, by the way. Someone is asking me for the 7 skills. They've put 14 question marks in. The more question marks you put in, the more annoying you are, by the way. I'm just telling you that. Um, but if you go to Rob Moore pod. I haven't finished, it's just this is the right time to do this. I've got some gifts and bonuses for you which will help you with distribution and leverage. So I'm celebrating the 6-year anniversary of one of the highest distributed podcasts in the world. Actually, if you go into the business charts right now, I'm number 2, so I am, you know, very well distributed. If you go to robmoore.com/pod, I've got not one, not two, not three, but four special gifts waiting for you there. Now those gifts will help you 10x your social media following, monetize social media, and build reach with your personal brand. Now I have just one ask. I'm doing this on trust. I'm giving you the gifts upfront first for free. These are usually, usually only for my paid subscriber members. Of rob.team. But I'm doing this on trust because I trust you. But my only ask for you is that when you go to robmoore.com/pod, you, on the thank you page, just go and subscribe to the Disruptive Entrepreneur Podcast. That's all I'm asking. Now, it's not really an ask because I've interviewed Floyd Mayweather twice and 16 billionaires and probably had more than 100 multimillionaires, deca-millionaires, and 100 millionaires. But the reason I'm doing this for you is because I'd like to get back to number 1 and not be number 2 in the charts. And the more of you that subscribe— Alex has just subscribed there. Um, let me know in the comments if you subscribed and gone to robmoore.com/pod. There's, um, 19 ways to, to, um, 10x your social media following. 19 ways to 10x your social media following. There's how to build a vast personal brand for free on social media. There's also 21— 20 ways to monetize social media and how to unlock all the monetization tools on all the channels. So there's a heck of a lot of bonus material at robmoore.com/pod. Now, I wouldn't be number 2 in the business charts right now if I didn't have distribution and leverage. So I leverage iTunes and Stitcher and Spotify to get my podcast out to the masses. And of course, 204 countries and tens of millions of subscribers and downloads is distribution. So if you want to be a millionaire or a multi-millionaire, you need to increase your reach into revenue and your distribution into dollars. Turn your content into cash flow, your information into income, and your passion into your profession. So I bear many gifts for you there at robmoore.com/pod as a celebration of my 6-year anniversary. I don't celebrate enough. I didn't celebrate my 5 years, so I'm going to try and change that and celebrate that with you. Okay, so I'm covering 7 skills and habits of millionaires and billionaires, and number 1 was realistic optimism, which was actually a psychology study done at Harvard um, university. Number 2 is full and final and personal responsibility. Number 3 is leverage, achieving more with less. And number 4 is distribution, so social media, you know, being— having global reach, partnerships and collaborations, you know, having a vast or certainly an engaged community, Etc. Number 5 and 6 are linked. So every millionaire I know has more than one income stream. No millionaire alive has only one income stream. The average income stream, I'm told, is between 3 and 7 that a millionaire has. So you need to have multiple streams of income. Now, it's best not to set up 7 different business types and, you know, uh, being fitness and health and, um, cooking, making phones, pressing vinyl. Yes, they're 5 different income streams, but they're so unrelated as business models that you've got to start each one again. So the best way to create multiple streams of income is to create related income streams. And I'm going to give you a couple of examples now. So 16 years ago, I started building my real estate portfolio, and I started by selling deals to investors working for a company. And then I did that for a year, and I got myself out of $50,000 worth of debt and made nearly $100,000 clear and had a good year. And then what I did is I started buying property for myself, actually with other people's money, with my business partner's money and with family and, um, uh, private investor money. So I was selling properties and then buying properties. And then when we bought enough properties, we started sourcing them for other people and managing them for other people. And then when we were managing, managing enough, we set up our own management company. Then when we bought hundreds of properties and were managing hundreds of properties, we set up our own property training company. So these are 4 or 5 related income streams but to the same business model. And so the huge upside in that is that you don't have to learn a new trade every time. Takes 10 years to become a doctor, and, oh yeah, another income stream, I'll be a dentist. Takes another 7 years to become a dentist. But everything you do in property renovation can be moved into property management. and in property management can be moved into property education and training. So what you do is you create multiple streams of income, but from related income streams. This is important. So, you know, people who build a big business, they then public speak and get paid to speak on their specialized subject, or they earn on social media on their specialized subject, or they get paid for brands and sponsorships and endorsements. On their specialized subject, on their niche, on their specialism. So the myth in creating multiple streams of income is you've got to have 15 diverse businesses. Now, that being said, once you build up a bit of a, a big enough business portfolio, then you do need to start diversifying and having unrelated income streams. Otherwise, you've essentially got all your income streams in one basket. Now, a great modern example of creating multiple streams of income from the same related business model is the creator economy. So the creator economy is where you earn from your content. Now, it could be content in the form of information. It could also be a product, but it's more likely to be content in the form of information. Now, I'm going to give you some examples of how I've started to earn money from my content. Now I've been earning money from my content for 14 years, but only in the last 2 years has it really, um, you know in Gremlins when water is poured onto Gizmo and all the little gizmos pop off of Gizmo? That's the analogy I can think of. In the last 2 years I've created 20 different income streams from essentially my knowledge over those 16 years in business. So I started generating income from my content by running courses on real estate because that was my, um, skill, that was my knowledge, that was what I was doing all day every day. Then I started writing books and recording audiobooks on real estate. So I'm earning on courses, books, and audiobooks. Then I launched a podcast in real estate and started earning on the ad revenue. Then I started doing Facebook Lives, and I earned tens of thousands of pounds a month just on Facebook content. Now I earn from every Facebook Live. I have my Facebook Supporter Program, which is my members program with thousands of my community members paying just $5 a month. It's not much. Um, I get star donations every day. So, um, I was doing this content for years but not earning out of it. But as Facebook really got themselves in the creator economy, which they're really in now, by the way— they've— Facebook have just put a billion dollars into their Creator Fund. As I— as Facebook got into the Creator Fund and unlocked all these monetization tools, because I've been doing content for quite a few years, um, Facebook were giving me them up front. I was one of the first 60 in the world to get the Supporter Program. I'm one of the first 20 in the world to get the Stars feature. But I was doing lives for years for free and getting nothing, and now all of a sudden I'm making 3 different income streams, tens of thousands of pounds a month on Facebook. People are donating me badges on Instagram. I have the TikTok Creator Fund set up. I made £800,000 from Clubhouse, roughly speaking, give or take a few grand, in 2021. I earn ads on YouTube. One YouTube video a month ago made me $23,000. I've just done a 6-figure, 6-month sponsorship deal. They just, they just asked for the invoice, um, literally just cut that deal, um, as we speak, um, the last couple of days. So I'm going to be paid many hundreds of thousands of pounds a year, many hundreds of thousands of pounds in fact, every 6 months to have a main sponsor, a tech company. I get podcast ad revenue, YouTube ad revenue, YouTube Premium. Now I'm not saying this to brag because, you know, I've been doing content a long time, and honestly, I should have jumped on this bandwagon quicker, but I was too busy doing old school business. Oh yeah, hardcore real estate, develop projects, do big deals. Don't worry about the little stars and the little supporters and the little badges and the, you know, the crappy little ads. That's chicken feed. Well, when you run an ad on 1,000 episodes, if you only get $1,500 an ad and you do one episode, that's chicken feed. But if you do $1,500 an episode and you do 1,000 episodes, that is dinosaur feed. That is not chicken feed. And if you get donated, um, £10 worth of stars a day, that's chicken feed. But in a year, that's quite a few thousand pounds and dollars. If you only charge $10 for your subscribers, that's chicken feed. But when you get tens of thousands of members like I've had since 2010, that is dinosaur feed. I don't even know what dinosaur feed is, but it sounds good. So the point is, this creator economy helps you monetize that one central resource, which is your content, into cash flow, your distribution into dollars. Your information into income, your experience into income. This is very powerful and very sexy, but you gotta hop on for a ride. Now, if you haven't already gone to robmoore.com/pod, go right now. Here's why you're gonna love this. So the best— I reckon the best bonus at robmoore.com/pod ways to monetize social media. But specifically in this document that I give you, it's a gift from me to celebrate the 6th year anniversary of my Disruptive Entrepreneur Podcast. Now if you go to robmoore.com/pod, if you haven't already, in this document that I'll share with you— and by the way, this document you only get when you've subscribed to my podcast on the thank you page because that's my ask But, um, the 20 ways I know to monetize social media— stars, badges, coins, gifts, subscriptions, supporters, ads, you name it— every single one of those has one page in the document, and I, I tell you where to apply, what criteria you need to hit, where the links are, um, and how to actually unlock the monetization tool and feature. So that gift is waiting for you at robmoore.com/pod. I've just put the link in the comments on Facebook and Instagram, it's pinned to the top on Clubhouse. Get off your ass and go check it out, it costs you nothing. The reason I'm doing it is essentially a nice, polite, ethical bribe, i.e., you subscribe to my podcast in return. I'm number 2 in business. I want to be number 1 on my 6-year anniversary. I absolutely should be number 1. Hashtag just saying. So it's all very well people like me saying, oh yeah, you can earn stars and badges and coins, and you can get subscriptions on Facebook and Instagram and LinkedIn and TikTok, and you can get sponsors and advertisers on your podcast and on your YouTube and on your Facebook Lives. But unless you actually know how to unlock them properly then it's all just a freaking dream. And I got asked so many times, Rob, how'd you get stars? Rob, how'd you get badges? Rob, how'd you get gifts and coins and subscriptions? I got so annoyed with being asked every 10 seconds— well, politely annoyed, positively, realistically optimistically annoyed— that I created this document so I could just send it to people. Only usually actually for my rob.team paid members, but I'm extending the gifts to everyone because it's my 6-year anniversary. It was also my birthday yesterday. Okay, all right, now 2 more to share with you. I hope you're finding this content useful so far. Hit the share button if you are finding my content useful. I want to get, um, starting and scaling your business information and better financial education and knowledge out to the masses. We're covering 7 skills and habits of millionaires and billionaires. I have interviewed 16 billionaires and probably more than 100 or maybe 200 multi-millionaires, deca-millionaires, 100 millionaires. There are actually 19 habits and skills I've figured out over 16 years of research, writing the UK's best-selling book Money, having one of the most popular money podcasts in the world which is called Money. And I've picked out 7 of them. Number 1, realistic optimism. Number 2, follow final and personal responsibility. Number 3, leverage. Number 4, distribution. Number 5, multiple streams of income. And make sure that's on related businesses, not separated businesses, like your content into multiple streams of social media monetization like I've just shared. Now the final 2 are recurring income and subscription revenue. So recurring income is money that keeps happening whether you work or not. You set up an asset and you create recurring income from the asset. You set to forget. You work hard enough not to have to work hard. Now, um, Warren Buffett said if you're not making money while you sleep, you'll be working till you die. And recurring income is income that comes in in royalty, residual, relentless, unbreakable, daily, weekly, monthly, quarterly, yearly. But it is contracted and subscription and recurring rather than occurring. It is not a one-off, it is a multiple of. So I get royalties and subscriptions from books, audiobooks, podcasts, YouTube, um, Rob.team, Facebook supporter stars, badges, coins, gifts, etc. All of the ones I share with you in that social media monetization document. There's 20 different um, digital assets I create recurring income from. There's also cryptocurrencies, but that's not in the document because that's a separate subject. There's also NFTs. I've got my NFT launch coming in 2 to 3 weeks' time. I can officially announce now that my NFT launch is happening. I wasn't sure if it was, but it is. So keep your eyes and ears open for that. Make sure you're following me if you're on Instagram or Facebook or Clubhouse. Follow me right now if you want to get notified. I've got I believe the world's most unique NFT launch. I don't know if you've been seeing my Instagram stories and seeing some teases. I really— I'm not just saying this, I think this is the most unique NFT launch in the world. I'm hybridizing my old art days with what NFTs are, with, um, giving other digital assets and resources and utility. So I think you'll love it. So recurring income comes from royalties on NFT resales. Recurring income comes from your staking of cryptocurrencies, your rental income from your properties, your traffic from your parked domain names, or your subscribers at rob.team. So I'm just going to change the link on Clubhouse and I'm going to put the link to rob.team. Now my rob.team platform is my subscription platform. It's only £3.49 a month. It's only $5 a month. I have thousands of members since I started in 2010. I've had tens of thousands of members. And the benefit to you of joining Rob.team for just $3— no, uh, £3.49 or $5— is that you can get access to masterclasses and premium content. But instead of paying for the masterclasses and the premium content, you just pay to be a member of Rob.team. Now the reason it's $5 a month or £3.49 is because I got locked in at that price when I One second.