The Martell Method w/ Dan Martell
These 10 Simple Laws Took Me From Broke to Millionaire
24 Jan 2025
Get The Book (Buy Back Your Time): https://bit.ly/3pCTG78 Subscribe to My Newsletter: https://bit.ly/3W2tjp2 Broke entrepreneurs actually end up being the most successful. Because it turns out, starting from zero means you’ve got nothing to lose and everything to gain. If that’s you, you’ve got an advantage. And in this episode I share the 10 Laws of Making Money that took me from a broke 23 year old to a multi-millionaire today. And anyone can start using them today to get rich fast, even if you’re broke. IG: @danmartell X: @danmartell
Full Episode
I'm gonna share with you the 10 laws of making money that took me from a broke 23-year-old to a multimillionaire. And anyone can start using them today to get rich fast, even if you're broke. 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. My bestselling book, Buy Back Your Time is out now. Grab a copy at buybackyourtime.com or at any of your preferred online retailers. Law number one, sell before you build. I've seen it a thousand times.
I even had a buddy recently that made the same mistake where he had a software idea, went into his basement, wrote a bunch of code, spent months on this software, finally launched, nobody bought. The key is try to sell it before you build it. If you sell before you build, your future is filled. Meaning that all the hard part that you need to figure out, you start with that.
You don't wait till the end. Building something is actually not hard. The hard part is actually finding out if anybody wants to buy what you've already built. It's actually exactly how crowdfunding has been doing it for Kickstarter does this, Indiegogo does this. I'm actually involved in a company where they pre-sold $20 million of a physical hardware before they ever shipped their first unit.
Why is that important? It proved that there was customers that wanted to buy the product before they ever spent any engineering time on building it. Tesla did it too. They pre-sold the Roadster. Back in the day, it was $100,000 deposit to say, I'd buy the rest of the car once it gets built. And they proved that people wanted to buy that Roadster before they ever built one.
This can be applied to literally anything. I've seen it with consumer goods. I've seen this with coaching. I've even seen it with a car parts company. You might have heard the shoe company Zappos. They're a billion dollar company got bought by Amazon. Before the founder ever bought a pair of shoes, they sold them on the internet first to prove that people would buy shoes over the internet.
And when they got their first order, you know what they did? They ran down the street, they bought it and they shipped it. Did they make any money? No. Did they prove that the customer was willing to buy that way without trying them on first? Yes. And that's why selling before you build is the only way to build your business. If they don't pay, then they won't pay attention anyways.
It's like my book. If I just give my book away thinking people are going to read it and get value from it, they won't. It's a bad strategy. A better strategy is to make them pay anything because when they do, they'll pay attention with their time to get the value from the book. But what if you don't have a product or service to sell? That's where law number two of making money comes in.
Make someone else rich. My top salesperson cold emailed me. A long time ago, he ended up in my inbox with a proposition that said, you pay me nothing, let me send an email. And if I sell anything, you give me a percentage of that. Now he works with me and he makes over seven figures a year in commissions alone. Why? He helped me make more money. I gave him a piece of that.
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