The Martell Method w/ Dan Martell
These Principles Made me So Rich I Questioned the Meaning of Making Money
Tue, 26 Nov 2024
Get The Book (Buy Back Your Time): https://bit.ly/3pCTG78 Subscribe to My Newsletter: https://bit.ly/3W2tjp2 These 11 Psychological Principles are what the top 1% use to generate wealth in their lives. Although, I never picked up on these principles that were hidden in plain sight for most of my life… Now that I think back on it, it makes so much sense. And I’ve personally used these to go from a broken teenager with no vision, to building a $100M business empire. IG: @danmartell X: @danmartell
Chapter 1: What are the 11 psychological principles of success?
I'm going to share with you the 11 psychological principles of success. These principles are what the top 1% use to generate wealth into their lives. I've personally used them to go from a broken teenager with no vision to building a hundred million dollar business empire. So without further explaining it, let's start with the first principle. 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. The first principle is the memetic theory by Rene Girard.
Have you ever wanted something just because somebody else had it? When I was 23, I didn't care about the latest gadgets until my buddy showed up with a brand new BlackBerry. Some of you guys are too young to know what they are. Seeing him with it made me feel like I had to get one. This cool keyboard and all that stuff. But I actually already had a flip phone. Why did I want it? Because he had it.
Because I started seeing other people with it. My friend just showed me that it was there. The memetic theory states that people copy the desire of others. If someone else wants something, you might want it too, just because they do. Have you ever had a friend that gets super excited about some new thing that they really, really, really want to get?
And all of a sudden you're like, maybe I want that. Why is he so excited? It's actually used in marketing today all over the place. Think about celebrity collabs. When you see a new product launch and they have all these celebrities, targeted ads where they promote influencers, affiliate referral programs.
I watch Carhartt come out of nowhere and everybody's wearing it, champion sweaters, I don't know if you saw that. It's funny because I remember one time hearing a culture expert talk about it. They said, if you want to know what's going to be hot, go watch what the kids are wearing in high school.
They're almost like tastemakers for the culture because they understand the mimetic theory is that if the kids are wearing it, then the parents have the desire of what their kids are wearing so they can feel involved. I see it all the time.
I see it on TikTok, on social media, and understanding how those ideas get planted and propagate through the market is actually a psychological theory that you can use in your life. Before I share principle number two, we've got a goal of hitting 1 million subscribers. So if you haven't already, click subscribe and turn on notifications.
Which leads us to principle number two, which is the framing effect. Have you ever made different choices based on how the options were presented to you? Think of it this way. If you go see a doctor, and they're trying to convince you to have a medical procedure. Which one do you think is going to get you to say yes, that the procedure has a 90% success rate or that it has a 10% failure rate?
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Chapter 2: What is the memetic theory and how does it affect desire?
I got to go verify it for myself because if not, you might just adopt it as a truth that's just simply not true. So protect your environment and especially the inputs you allow into your mind. I always say trust, but verify. Follow your gut if there's an intuition because most people just parrot others and that doesn't make it true.
Which leads us to principle number eight, which is the endowed progress effect. Have you ever felt more motivated to finish something because you were given a head start or maybe got a quick win? For example, in 2019, I got on TikTok early and it blew up 500,000 followers in six months. And that initial traction, which was crazy,
sparked some motivation for me to go all in on creating content it's why I'm here Mr Beast had the same thing when he was early days just recording himself playing Minecraft one of his early videos went viral and then because of that he goes oh if I did it once I could probably do it again so he just kept going and going but nothing new happened for over a year but regardless he was hooked and he's now become the Mr Beast we all know today largest YouTuber on the planet
How do we use this? Well, small wins lead to big successes. So if I can get a small win, then I'm more likely to keep building because momentum is only created in the mind. So if I feel confident, then I'll keep doing it. For example, I have a fitness program. The first 16 days is to do a cleanse. The reason why is because I want to get people a result as fast as possible.
So on average, people release 14 pounds of weight in the first 16 days. I do that to get the early wins so that they're more likely to stay consistent once I introduce the new macros and my progressive overload training style. That's why we use the endowed progress effect to get people the wins so that they're more likely to stay consistent over the long term.
And by the way, if you're interested in my fitness program, just message me the word macros on Instagram and we'll see if you'd be a fit for my program. Before we get back to the episode, if you actually want to know what my real life looks like and see the people and the businesses and the companies I buy and my family and just like how I make it all work, go follow me on Instagram.
Dan Martell, 2LZMartell on Instagram. It's where I show the behind the scenes, the real deal, real time. I'd love to see you there. Have an amazing day. Which leads us to principle number nine, which is the IKEA effect. Have you ever felt more attached to or proud of something just because you helped create it? I don't think so. I know for me, if I'm involved in building it, I'm like proud of it.
It's just like when I create strategy with my team, I always have to get them involved in the ideation so they feel invested in it. What you create is a reflection of you. So if you're involved in it, you'll feel better about yourself. Involving customers in product customization or prioritizing your product roadmap is a great way to get them involved.
So think of it this way, involvement breeds attachment. When people help build the plan, they won't fight the plan. the effort invested creates value. I mean, it's why IKEA has a very low return rate because if everybody's got to make all the furniture and they feel like all this effort went into it, it's not as easy to disassemble it and bring it back to the store.
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