Jay Abraham

Well, I'll start with the biggest mistake a lifestyle entrepreneur makes. When he or she starts, so let's say you come from a limited income world, whether it's you had a salary, let's say you were making 70 grand and all of a sudden you get into your own lifestyle business and you're making two or three or 400,000. First thing most people do is indulge their material ego.

Well, I'll start with the biggest mistake a lifestyle entrepreneur makes. When he or she starts, so let's say you come from a limited income world, whether it's you had a salary, let's say you were making 70 grand and all of a sudden you get into your own lifestyle business and you're making two or three or 400,000. First thing most people do is indulge their material ego.

Well, I'll start with the biggest mistake a lifestyle entrepreneur makes. When he or she starts, so let's say you come from a limited income world, whether it's you had a salary, let's say you were making 70 grand and all of a sudden you get into your own lifestyle business and you're making two or three or 400,000. First thing most people do is indulge their material ego.

They buy a Mercedes or they do something, they go and they buy their Rolex or whatever and And the smartest thing to do is reinvest in the business at that level or reinvest in assets that'll work for you, but not to indulge yourself at that level. So reinvestment is something a lot of people don't do. The second is a lot of people...

They buy a Mercedes or they do something, they go and they buy their Rolex or whatever and And the smartest thing to do is reinvest in the business at that level or reinvest in assets that'll work for you, but not to indulge yourself at that level. So reinvestment is something a lot of people don't do. The second is a lot of people...

They buy a Mercedes or they do something, they go and they buy their Rolex or whatever and And the smartest thing to do is reinvest in the business at that level or reinvest in assets that'll work for you, but not to indulge yourself at that level. So reinvestment is something a lot of people don't do. The second is a lot of people...

Don't understand that a superstar will outperform, I don't know what the right word is, not a mediocre, but an average person by orders of magnitude. There's a very famous quote that I learned years ago. You hire the best. And you cry only once when you have to agree to pay them because they're worth so much more.

Don't understand that a superstar will outperform, I don't know what the right word is, not a mediocre, but an average person by orders of magnitude. There's a very famous quote that I learned years ago. You hire the best. And you cry only once when you have to agree to pay them because they're worth so much more.

Don't understand that a superstar will outperform, I don't know what the right word is, not a mediocre, but an average person by orders of magnitude. There's a very famous quote that I learned years ago. You hire the best. And you cry only once when you have to agree to pay them because they're worth so much more.

So most of them don't bring people in that are better than they are in what they do. They bring people who are basically affordable and superficial. Sometimes people make a different mistake. They're $5 million and they want to grow to $20, so they'll bring somebody that ran a $20 million company or was an instrumental, but they don't check to see if that person actually grew it from $5 to $20.

So most of them don't bring people in that are better than they are in what they do. They bring people who are basically affordable and superficial. Sometimes people make a different mistake. They're $5 million and they want to grow to $20, so they'll bring somebody that ran a $20 million company or was an instrumental, but they don't check to see if that person actually grew it from $5 to $20.

So most of them don't bring people in that are better than they are in what they do. They bring people who are basically affordable and superficial. Sometimes people make a different mistake. They're $5 million and they want to grow to $20, so they'll bring somebody that ran a $20 million company or was an instrumental, but they don't check to see if that person actually grew it from $5 to $20.

Bigger difference. And they can bury you. They can bury you. Another thing that's a mistake... is letting your ego indulge you. If you're working from a very modest facility, many people, when they start making a relatively significant amount of money to what they were used to, get a very nice facility, or they expand too fast. Too much growth is just as bad as bad growth.

Bigger difference. And they can bury you. They can bury you. Another thing that's a mistake... is letting your ego indulge you. If you're working from a very modest facility, many people, when they start making a relatively significant amount of money to what they were used to, get a very nice facility, or they expand too fast. Too much growth is just as bad as bad growth.

Bigger difference. And they can bury you. They can bury you. Another thing that's a mistake... is letting your ego indulge you. If you're working from a very modest facility, many people, when they start making a relatively significant amount of money to what they were used to, get a very nice facility, or they expand too fast. Too much growth is just as bad as bad growth.

You want quality over quantity always. You don't want to compromise the integrity of what you stand for because... If you have great, great, great integrity and an ethos that stands out to the audience you're dealing with, there's a great quote. You can lose your money, but if you keep your integrity, someone will always back you.

You want quality over quantity always. You don't want to compromise the integrity of what you stand for because... If you have great, great, great integrity and an ethos that stands out to the audience you're dealing with, there's a great quote. You can lose your money, but if you keep your integrity, someone will always back you.

You want quality over quantity always. You don't want to compromise the integrity of what you stand for because... If you have great, great, great integrity and an ethos that stands out to the audience you're dealing with, there's a great quote. You can lose your money, but if you keep your integrity, someone will always back you.

If you keep your money and you sell out your integrity, you'll never get your integrity back. So it's just understanding what really is relevant if you want to play a long-term game. The problem I see with most lifestyle entrepreneurs is they think they are running a business, and what they are really doing is a promotion. It's an elongated promotion.

If you keep your money and you sell out your integrity, you'll never get your integrity back. So it's just understanding what really is relevant if you want to play a long-term game. The problem I see with most lifestyle entrepreneurs is they think they are running a business, and what they are really doing is a promotion. It's an elongated promotion.