Hi guys it's mark, so the internet is full of articles preaching about habits that will make you a millionaire but they're, always so generic and not from personal experience. Now i know i'm a boomer, but sometimes that can be a good thing. I've been around for a while, and i've learned an awful lot along the way. So today i'm going to be sharing with you, seven of the habits that actually made me a millionaire and the stories behind them, but before we jump into this, make sure to smash that like button for the yell tube eugerithm, it really helps push my videos out To more people - and it's really appreciated habit, one not fear in debt.

I know this might sound confusing at first as lots of people think that debt is bad and you should avoid it like the plague. However, it's one of the main reasons i was able to build my wealth from nothing in my early 20s. I was building my businesses from the ground up and i didn't have a lot of cash available to me. So i had to get very creative with my finances.

I knew that if i wanted to grow my wealth, then i needed to control more assets and the only way to do this was to use the power of other people's money, and i didn't mean just borrowing. Five dollars to get myself a mcdonald's, either notice how i said i wanted more assets and that's a very important point. Lots of people do the opposite to this and get into debt buying liabilities. Sadly, they're just digging themselves into a hole that i find extremely hard to escape from an easy way to find out if something is an asset or a liability is to figure out if the purchase is putting money into your pocket each month or instead just draining Your wallet i've borrowed money to buy products for my businesses and even acquire other businesses in full.

I actually still do this to this day as borrowing money is currently very cheap. How can borrowing money be cheap, this guy's a lunatic? Well, what i mean by this is, if i can borrow cash at two percent interest rate and put my money to work at between eight to ten percent return, then i'm ahead by six to eight percent. I just make sure to fully run the numbers on my decisions and not leave myself too exposed to debt, so that if something went wrong, i could handle the repercussions. That's why you often hear rich people say they have no liquid capital.

This means they have very little cash on hand, as it's all invested earning the money. I once had over 1 million dollars worth of products offered to me at a price. I could not resist. I have to be honest, even i was against borrowing that much so i had to come up with a more creative solution.

I borrowed a quarter of the money and agreed to pay them the full amount within three months after the first month, i'd already sold half of the products for double what i'd paid for it. So i was able to pay back the debt with profit and still have half a million dollars worth of product, so the key takeaway here is not all. Debt is evil, as the debt i took on made me a lot of money without the power of borrowing. I would have had to have sold off investments to complete the deal, which is never a good idea.

Habit. 2 focus obsession i believe, to become a millionaire. You must have laser focus much like an olympic athlete. I couldn't agree more with the quote: when you want to succeed as bad as you want to breathe, then you'll be successful.

Many of you are probably not aware that before i was known as a businessman i was famous for flying radio controlled helicopters and i competed to a very high standard all over the world. At one point, i won bronze medal at the world championships held in indiana. Usa, when i was competing, i was obsessed with every little detail of my model and i did everything i could to win. I was relentless to get to the top of anything you need to put in an extra bit of effort and work and then a little bit more.

When i started my first business, i applied the same obsession. I set myself both short and long-term goals to keep focused at all times. Having a laser-like determination to succeed is key for your growth, and i was absolutely obsessed with hitting my sales targets. First, it was just to complete a year of business.

Then it was to do last year's turnover in one month, then in just one week, but i always had the ultimate goal of becoming financially free. Even elon musk claims he regularly works 80 to 100 hour weeks. This is fueled by his obsession to hit his targets and meet his goals. How else will he smash tesla earning reports and land humans on mars? The sad truth is, 60 of businesses fell within the first three years, and that's why focus obsession is so important.

So stay focused and keep grinding amazon wasn't the biggest retailer overnight and kevin o'leary said he would have laughed elon musk out of the building. If he'd appeared on shark tank with a tesla pitch habit 3 creating passive income streams as i've grown older, i must say my passive income streams have become very useful. I no longer have the energy of a 20 year old, although it may seem. I do sometimes, however, i don't have to as i put in all the hard work when i was younger and now i can reap the rewards.

I created my first passive income stream accidentally when i refused to sell my apartment in my 20s. The apartment would have sold for around 40 less than i've paid for it, and i wasn't interested in taking a hit like that. So i rented it out. This ended up being a great decision, as it paid the mortgage and after four years the apartment sold for 60 more than i'd originally paid for it.

So not only did i receive rent every single month, totally more than a mortgage payment. I then sold the property for a huge profit and put the money to work in the stock market. This really showed me the power of passive income, and i was hooked now. I admit the term passive income has become a bit of a buzzword online and the truth is no.

Income is truly passive, as there is always something that has to be done. However, some income sources are certainly more passive than others. The idea is to create something once and have it pay you as much as possible with minimal effort. Passive income is addictive, especially when you wake up and realize you just got paid to sleep.

A good way to start is to grab yourself a free stock from the public, app worth all the way up to a thousand dollars. If you're in the usa and if you're in the uk, then free trader giving away a free stock worth all the way up to 200 pounds i'll leave both of those links in the doobly-doo below habit, four quitting now, i know this one may sound a bit Strange quitting is usually seen as a bad thing, but in my experience it helped me go from a carpenter's apprentice earning less than two dollars an hour to a millionaire by my late twenties when i was working that minimum wage job - and i first had an issue With my manager, bullying me, i could have kept going and worked my way up the company gradually, but i decided to quit that led me to starting my own business and within a few months i was drowning in all that paperwork, so i decided to quit doing That job and hired someone to help and before i knew it, i quit all the jobs that i didn't want to do in the business. This allowed me to focus on being the captain and steering the business in the right direction. The big lesson here is not to be too proud to quit when you don't like something or you feel the effort is not worth the reward.

I see so many people struggling at university and working long days and nights for a degree they don't actually want. They have just been pushed down that path by teachers and parents. Of course, this isn't everyone, but in my opinion, quitting has its time and place and there is no shame in admitting something isn't for you. This isn't to say you should quit if you're just finding something hard, but there has to be a reason to put in all that hard work.

Don't let others shame you if you make the hard decision to move on to bigger and better things? After all, the opportunity cost of staying where you are could be much greater than you realise. Just imagine if i'd stayed working as a carpenter, making wooden trash cans. All my life habit, five value in health. I know i might be sounding a bit like a fitness guru and have the six pack to match, but as cheesy as it is without good health, you won't be able to unlock your full potential.

I had to relearn this lesson recently when the pandemic hit lots of my staff were in lockdown, which meant i decided to work three months flat out. I was even in the warehouse packing and shipping orders with minimal staff, as i didn't want to let our customers down. I actually work 15 hours a day, seven days a week for three months straight. I got very stressed and started having lots of migraines and they only stopped when i started to slow down by going back to golf and doing more fun things like white water rafting with my son.

I also climbed mount snowdon last weekend, as well as going on the fastest zip line in europe. These things keep me more relaxed enjoying life, which means i can put more effort into my work. I now understand more than ever, a healthy body is a healthy mind. Habit: 6 taking roi seriously.

If you want to become a millionaire, it's highly unlikely you'll be able to achieve it without understanding return on investment. If i purchase a product for fifty dollars and sell it for seventy five dollars, my roi is twenty five dollars, which is fifty percent. However, roi stretches so much further than profit on an item you're selling as a business owner. I have multiple employees and before making a commitment to employ someone, i first have to work out exactly how much this will cost me and exactly how much money.

I think that person will generate the business without calculating the return on investment. How would i ever be able to determine whether hiring an extra employee is the right decision, whether you're starting a business, investing in the stock market or even just saving money? It's important to understand the return on investment, as well as the opportunity cost, but return on investment doesn't always have to be instant. One of my businesses is b2b business to business. This means i sell products to other businesses at a trade price.

Instead of directly to the customer, i've attended many radio controlled model shows over the years to showcase my product range to customers all around the country. This cost my business time and money attending the show for no immediate return on investment, but the payoff later down the line is great when i land the big business customers who buy in bulk. So the key takeaway here is to think about how you're spending your precious time and money and evaluate if you're, getting a good roi habit. 7 is being selective about your circle.

This is a real controversial one, and i completely understand why the truth is not. Everybody is worth your time, especially when you're trying to better yourself and brighten your future. There's a saying if you surround yourself with four millionaires, you're bound to be the fifth, and this is absolutely correct. I grew up pretty poor, but even from an early age, i thought a little bit differently from my school friends as lots of them had sort of like that do type approach to life, whereas i always wanted to put in a little bit of extra effort where It mattered most because of this.

I only keep in contact with one person from school and two people from my first job. All three of these guys have the same attitude to life as i do, and i find this both encouraging and fulfilling. If you look for friends that align with your values and goals, then you'll find them with these friends, you can talk openly about your goals and also listen to theirs. It's such a great encouragement and it forces you to level up so, instead of always talking to friends about the latest netflix series try talking about business ideas and making money.

I find this crucial, as some of my best ideas have been sparked completely through a conversation. If all i spoke about was tv shows and hobbies, i'd never got anywhere. All of these habits have undeniably changed my life for the better and shaped me into the person i am today. The best part of all of this is it requires minimal effort.

You don't have to spend an absolute fortune on things. You don't actually need to get started as long as you get started right away and stick with everything we discuss long term you'll be good to go. It's all about thinking like a millionaire before you actually are one, so these habits should help shape your future towards millionaire status. So i'm going to leave the next video right up there, but don't click on it just yet make sure to subscribe.

If you want to grow your wealth and don't forget to pick up your free stocks and bitcoin with the links below okay i'll see you over there.