“If you are not learning while you’re earning, you are cheating yourself out of the better portion of your compensation.” — Napoleon Hill
I was able to 15x my net worth over the last four years!
How did I do this?
I actually did it through two secrets nobody talks about.
People will say it takes money to make money.
This is not true.
They’ll also say it takes experience to make money.
That is also not true.
These two secrets helped me increase my net worth by 15x in the last four years.
I’ve watched other people do this as well.
I have a friend who raised $10 million for real estate deals in 10 months while still working his full-time job.
It was really impressive to watch him taking action.
So as you read this, be ready to take action!
This will not be passive learning.
You can and should take notes to implement these tips in your own life.
The first and most important thing is networking.
Networking is getting out and meeting new people
When you meet them, try to absorb the information they teach you.
How do you do this?
It’s important that you go to events.
If you live in a large metro area, you’ll find meetups.
You’ll find things you can attend locally.
Whether it’s real estate or investing or business, go as many meetups as you can!
You’ll meet some really interesting people.
Another thing is national conferences.
I go to a lot of national conferences, usually about 12 a year.
I meet interesting people who are serious investors, either very wealthy or ones that are determined to get there.
When you’re at these events, it’s important to stay engaged and ask questions.
You can be a wallflower, but that will not benefit you at all.
Instead, you should start having conversations.
You want to be very curious about how they were able to grow their wealth.
When you’re talking to them, it’s important to not just ask what’s going well.
You should ask them about the biggest challenge in their business.
That’s a very interesting question!
Successful people are constantly trying to find a way to solve problems.
That’s how people get paid: solving other people’s problems.
If you come up and ask about their biggest challenges, you’ve set yourself apart from other people that are not asking that question.
This is especially true with people who are very successful.
People constantly come up to them asking for mentorship or something similar.
If you show up and ask about their biggest challenges, you will really stand out!
These conversations could even develop into a partnership.
I’ve seen that in my own life.
That’s why it’s one of my best kept secrets.
Networking is absolutely key.
Everyone loves talking about their successes.
On that note, another great question is: What’s something that didn’t go as planned?
People who are very successful are usually willing to open up and share these challenges.
A wise man learns from their own mistakes, but a genius learns from the mistakes of others.
If you’re willing to learn, you will save yourself a lot of time.
Ask those questions and get answers to those questions.
You’ll also get to a deeper level with the people you’re talking with.
Don’t forget to follow up!
Your conversations should not be limited to a networking event.
Exchange information and see if you can follow up.
If you’re more of an introverted person, I totally get that!
I have a good friend named Robert Helms.
He’s one of the Real Estate Guys with his partner Russell Gray.
They are both introverts.
They do live events and Robert says his introversion doesn’t serve him in those events.
He shows up and becomes more extroverted.
This doesn’t mean you have to frequent events all the time.
But you should ask yourself:
Does introversion serve you?
If it doesn’t, be willing to step out of your comfort zone.
We also have a lot of other excuses to not get out there and network.
It’s Thursday night and you’re kind of tired.
You don’t want to fight traffic.
I totally get it!
I’ve been there.
But it really comes down to the cost benefit.
If you put in the time now, you will have a lot of benefits later.
I’ve had a few years where I would do a little bit of a grind.
I’d be hustling at my job and also going to meetups on the side.
It really pays off in the long term!
The second secret to growing your wealth is through education.
Just because you don’t know something doesn’t mean you can’t learn.
It may not be as hard as you think!
There are online trainings on all sorts of topics.
We do an event called the Bronson Equity Monthly Series.
We go over how to position yourself during inflation and also multifamily investing.
We also have live events.
There are places where people will teach certain skill sets such as how to grow your wealth.
Reading is also a great way to educate yourself.
I am a huge reader.
Growing up, my dad always said when you have a book, it becomes a tutor that helps teach you a particular topic.
My goal this year in 2022 is to read 60 books.
That’s a pretty lofty goal.
How can you even do that?
For me, I’ll read for a few minutes each night.
I’ll also put on an audiobook while I’m driving or going for a run.
You can download audio books from your local library, which is phenomenal!
A great book to start out with is The Slight Edge by Jeff Olson.
According to the book, everything you do has a positive or negative effect.
If I start smoking, I won’t die tomorrow or next week or next year.
But in 10, 20, 30 years… I may have some pretty negative repercussions from that.
We make our habits and our habits make us.
If I choose to be physically active and eat well, I may benefit just a little from that today.
In 10, 20, 30 years, there’ll be an exponential effect of doing that.
It’s the same with reading books and learning.
Jeff’s book is great and encourages you to do that.
3. Take Action
The final thing you can do to grow your wealth goes beyond networking and education.
It’s taking action.
I really can’t stress this enough!
Tony Robbins says knowing is not enough.
You must take action.
A personal quote I have is: “Life has an action bias.”
Start taking action.
Go to events, read books, try different things.
It took me a year to figure out what direction I was going.
But I learned a lot as I was going along.
If you get in motion, you will figure it out on the way.
You can do it.
You can grow your wealth.
Having a strong why is also very important here.
One of my big whys is trying to end human slavery.
In 2022, there’s 20-40 million human slaves today, which is just staggering.
But I do believe it can be ended or at least significantly reduced.
I also want to be a great dad.
For you, if you have a big why and it’s strong enough, it is totally possible to grow your net worth.
You can experience financial freedom and have time.
Freedom of time is the greatest freedom.
Now I want to hear from you!
What are you doing this week to educate and network?
Let me know in the comments!
Before you leave, make sure to check out our special report about investing. It compares the stock market to real estate, and it also includes how the pandemic affects your investment future.
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Disclaimer: I am not your investment advisor. This is for educational purposes only. I am not giving specific advice on what you can do. I am simply giving my opinions.
I really enjoy your posts.
What national conferences and networking events would you recommend to a new investor?