Get The Book (Buy Back Your Time): https://bit.ly/3pCTG78 Subscribe to My Newsletter: https://bit.ly/3W2tjp2 I've been building businesses for 27 years. But, if I had to go back and give my 20 year old self some advice on how to build a business a lot faster... Here's what I would say. IG: @danmartell X: @danmartell
Full Episode
At the time of this recording, I've been in business for 27 years. But if I had to go back and give my 20-year-old self some advice on how to build a business a lot faster, here's what I would say. Welcome to the Martell Method. I went from rehab at 17 to building a $100 million empire and being a Wall Street Journal bestselling author.
In this podcast, I'll show you exactly how to build a life and business you don't grow to hate. And make sure you don't miss anything by subscribing to my newsletter at martellmethod.com. Number one, spend money to save time, not time to save money. See, most people are always trying to save money, but they don't realize that you have to invest money to save time.
In today's world where you can spend dollars to buy back hours with the apps and the delivery and having things come to you and be able to have people all over the world support you in your dreams for a few dollars an hour, do that. Number two, solve problems for rich people, not broke people.
If you want your life to be easier, you want to have a business that thrives, you want to have a great job, go solve problems for people that have money. Broke people, they'll be a pain in your butt. You'll deal with them not paying you. You deal with the drama that they're going to come along with it because they expect everything for very little. Rich people, way easier to work with.
Number three, sell before you build anything. My default, as soon as I have an idea, is to run to find a customer. I sell before I've ever built anything. All my software companies, all my coaching programs, all my media stuff, always sell first, then figure out how to build it. Number four, you don't manage time, you manage energy.
If I could go back and talk to myself about the way I structured my life, instead of just responding to whoever needed my time, instead put those projects tasks together throughout the day based on the energy I would have in the morning versus the afternoon, I would have got so much more done. Number five, Simple scales, complex fails. The best way to build a life that's awesome is keep it simple.
Don't have a lot of options. Don't have a lot of things to manage. Don't allow people to keep adding things to make it better. Fight for simplicity because complexity is the ceiling of growth. Number six, cashflow is critical. Don't finance your customers. If people want to buy from you and you have fixed costs, have them pay you enough to cover those costs.
If you got to go and finance that through a investors, that means that you're essentially supporting their growth in their business through your bank account. I want them to pay me upfront. I want to finance my growth through my customer's financing. Number seven, model and modify. So many times I've had people that coach with me try to modify my instructions.
And I know when I worked with a coach, I learned this the hard way where I would take what they said and say, well, mine's a little different and I'll do it this way. And it turns out it didn't work. Why? Because I modified too much. When you learn something new, do it exactly as they say. And then once you get traction and results, then you can modify. Number eight, 50 to fix it.
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