An entrepreneur who built $20 million in annual recurring revenue in three years explains his approach: bet on yourself instead of passive investments like stocks or Amazon stores. He argues the best return comes from developing your own skills and effort, not handing money to someone else.
Is this your Ferrari?
Yes, it is.
And what do you do for living out here in Scottsdale to be able to afford a Ferrari?
I'm an entrepreneur.
How long have you been a business owner for?
3 years.
What was the most amount of money that you've ever made in a single year?
So the most amount of money will be this year, we'll do north of $20 million annual recurring revenue.
Dang, $0 to $20 million in 3 years, that's legit. What was the best financial advice that you ever received?
You have to bet on yourself. A lot of people value money over valuing themselves. I value myself over money, which is why I'm so rich.
Betting on yourself, I like that a lot. I see a lot of people that feel like they're wanting to make an investment. They might be saving up some cash, they might be stacking it, and they want to go dump it into some stock, some investment, some done-for-you Amazon store. Listen, if that's going to be you, it ain't gonna work. You're not actually creating skills. You're not betting on yourself. You're betting on somebody else. And the problem with that type of an investment is you aren't in control. So you're basically gambling. You hope that that type of investment is going to pan out for you, and in all reality, you have zero control over it. So I agree what she's saying here. There's no one that's going to get a better return for myself than me.
