How to Become a Renegade Millionaire
The book Renegade Millionaire contains 7 secrets that aspiring millionaires should follow. You know what they say? Mirror those that have done it. These 7 secrets describe the core beliefs and behaviours that people who aspire to become millionaires display. So sit back and listen to this summary podcast. In the meantime, it’s probably best if you go out and buy the book. Here’s a link: RENEGADE MILLIONAIRE
So let’s start with the first secret…
SECRET #1 THE POWER OF ORGANISED EFFORT
Are you using strategies in the pursuit of principles? Or are you using tactics in search of a strategy. Secret number 1 is all about having governing principles. Then having strategies supported by tactics. In this clip, Graham explains how this secret relates to the current pre-crash challenge that many affluent people are facing.
So, Dan Kennedy says STOP! Think hard and go back to principle. When it comes to money, what is your principle? As Graham says, it might be – I word amend hard for this money so I want to keep and grow it! That then spills down into strategies. It might be hire a great financial adviser. Or, it might be you DIY your finances. The tactics are then all those things you’d do to serve the strategies that fulfil on the principle.
#2 MAKE MAXIMUM MONEY
Ask yourself the question, “Is this making money?”. Graham said the 1% aren’t given to wasting their time on social media. Time is an important non-repeatable asset.
Kevin referenced the most recent John Lamerton podcast. He made the point about social media being transient.
Graham spoke about Dan Kennedy’s stage speaking. Kennedy extracted maximum money from his speaking:
- negotiate a higher percentage
- processed his own orders
- he’d sell at higher prices than other
- he provided order forms that sold his services
- follow up letters to non-buyers
- he also used dead time productively – meeting someone-else on the trip.
The value of a business rises with continuous or continuity income. Plus, increase the customer lifespan. These two strategies are about creating equity.
Current Bank vs Future Bank
This concept is about making deposits into your future bank. Here’s an example:
#3 THE POWER OF BIG IDEAS
Most great businesses have one radical BIG IDEA. So, how do you find these ideas?
- Violate industry norms
- Appeal to malcontents
- be a true leader and not just an alternative.
BE A FARMER NOT A PIRATE
#4 TAKE CONTROL OF YOUR TIME, YOUR BUSINESS, AND YOUR LIFE
Kevin recommends you are selective in the things you do. Be choosy about which objectives you pursue in the next 100 days.
There is logic in controlling access to you.
We discuss the OFF THE GRID app with Patrice Archer. This is all about controlling your effort to control time.
INFLUENCER MARKETING – Following a Parasite Strategy
This is all about using OTHER PEOPLE”S RELATIONSHIPS.
#5 ACCURATE THINKING
Knowing facts you may not want to know. Gather empirical evidence.
Graham mentioned previous guest Daniel Burstein from Meclabs. They are all about empirical evidence.
#6 CREATE A COMPETITION FREE ZONE
Kevin suggested we skip this and refer people to our podcast Episode 295 on this.
SECRET #7 INVENT LESS, IMPLEMENT MORE
People really like creating rather implementing. Is your CV just like this?
The Next 100 Days co-hosts…
Finely Fettled helps organisations that want to market to affluent and high-net-worth customers with direct marketing campaigns and data services. Meet Professionals – Offers large financial advisory groups with 50+ IFAs a white-labelled lead generation and conversion system. Contact Graham: LinkedIn: Visit Graham’s LinkedIn Profile Twitter: Visit Graham’s Twitter Page Email: Email Graham Direct
Kevin is a Chartered Accountant who has worked as a management consultant for several years specialising in finance transformation and implementing business change. Currently, he is the COO of GrowCFO. GrowCFO is Where Finance Leaders Grow Together. Becoming a successful CFO requires commitment and dedication toward delivering your full potential. GrowCFO provides both community and CPD accredited training designed to grow the next generation of finance leaders. You can find Kevin on LinkedIn and at kevinappleby.com