The Millionaire Booklet By Grant Cardone

As with most things in life, creating wealth starts in the mind - make a decision to become wealthy – commit to that decision – and reinforce it over and over.

Grant Cardone says that it’s selfish for you to shy away from becoming rich. Becoming rich isn’t just about you. It's also about the hundreds, thousands, and possibly millions of people you will be able to help through creating employment, donating to charities and investing in businesses.

So make the decision right now to put a stake in the ground to become very rich.  He says, “When you compromise your finances, you become unable to help others because you are struggling to simply take care of yourself.”

When you break it down, you realize that you can create tremendous wealth in your life simply by knowing the numbers.

Do the millionaire math, and reinforce your commitment to becoming a millionaire. Wealth requires simple, basic math, and any wealthy person will tell you this. After all, getting to a million dollars is about numbers. But keep it simple. The best ideas are always simple.

 “No one ever gets rich without increasing income first.”

Grant Cardone says that you have to operate like a business if you hope to get rich someday.  He says that the value of your business, i.e., you, is based on your ability to produce income.  You need to focus on increasing your income streams, especially early on, and not on saving and investing.  Saving and investing will come later. In the beginning stages, however, you must keep increasing your income in small increments until you can start making big surges.

(My personal opinion: Always keep 10% of your earnings. It's always helpful to have money in the bank, whether you call it emergency or something else.)

Grant believes that the most important thing to learn about any business is sales.  To be good at making sales, and by extension, increasing your income, you must answer one simple question:

Who’s got my money?

Make a list of all the people who are qualified to buy your product or service or skill and make yourself known to them.  Spend most of your time and energy with these people.  Figure out how you can benefit them so they can pay you generously. He says that you don’t need to make money; you just need to connect with the people who already have it, and exchange your skills, products, knowledge with these people in exchange for their money.  When you add value to people’s lives, they won’t mind paying you generously for your services.

Anything that sits around for too long grows mold and becomes unusable.  So you need to start moving your surplus income into sacred accounts that are out of your reach.  Separate and automate these accounts so that you don’t even have the opportunity to see the funds.  If you keep your surplus money from your increased income flows in your transactional account, you will eventually use it.

These sacred accounts will be used to start and build your investment portfolio.  Staying broke forces you to reinforce the actions that increased your income in the first place.  This strategy of staying broke prevents you from being lulled into thinking that you’ve made it now that your income has increased by a few thousand dollars.

If you don’t stay broke, if you don’t move your surplus income into sacred accounts, you will waste this money on useless expenses and begin to go backwards financially.

Grant Cardone’s wealth creation formula is rather simple: 1) increase income, 2) Save to invest (in sacred and separate accounts) 3) grow your income in increments and surges while preparing for future investments. This concept is not new, but the important question is whether you are doing it or not. 

Grant Cardone hates the concept of saving for a rainy day,

or saving for retirement.  He insists on saving for investments.

He says, “You can save $700.00 a year for the next 50 years

and you won’t be rich, you’ll just be old and broke!”

At some point you have to put your surplus money to work.  Having said that, though, he also warns against gambling with your money by investing in risky deals.  Equip yourself with knowledge about your desired investments.  Develop the courage to pull the trigger when you spot an opportunity. And make sure you have enough surplus funds and enough income streams that you will not suffer when any one deal goes sour or takes longer than expected to be profitable.

Don’t substitute one stream of income for another. Instead, you must stack your income flows one on top of another.  In the Grant’s opinion, the difference between rich people and poor people is that, “Poor people try to replace flows of income, while rich people are trying to supplement or add flows.”

What you must do instead is create symbiotic, or parallel, secondary streams and never abandon the first stream.  He says that when your flows of income are too far apart, you will have a tough time keeping your eye on both flows.  Your focus will be scattered and one, or both, flows will suffer.  Use the second flow to supplement the first flow.

One final and important warning for step 7 is this:

“Creating multiple streams of income requires discipline and commitment in how you use your time and money.”

Be prepared.

Commit yourself to constant and never-ending improvement. 

Develop any skill that you lack so that you can become better. 

Don’t skimp on your education and self-improvement.  Remember what Jim Rohn said, “The real value of earning a million dollars is not

in the money you obtain, but rather in the person you become.” Invest in the one investment that will yield unequalled returns.  Invest in you.

Also, take a look at your environment.  Is it supporting your dreams and goals?  Are the people around you helping you to become a better and more successful person? If not, then you will need to make some changes. Here’s another quote from Grant Cardone: “If you want to make it to the club of wealth, you must add new connections. And that means you need to reach up, not sideways and not down.”

These are the 8 steps to becoming a millionaire. Here’s another key

to unlock your wealth mind-set. 

You must understand this completely,

and practice it consistently, if you want to be wealthy:

“Money will not make you happy, nor will it make you unhappy,

but getting rich is vital to your survival and your ability to help those you love.”