Podcast Summary
Money and Income Growth: Money is attracted to problem solvers, positivity, optimism, and quick execution. Continuously growing income solves financial problems, gains freedom, and offers more options. Bedros Coolion's seven lessons for making more money and impacting lives include focusing on income streams, building relationships, and investing in yourself.
Money is attracted to people who are solving problems, positive, optimistic, and lean into speed of execution. Money is always in motion and never stationary, so it's essential to continually grow your income. Bedros Coolion, the host of the Bedros Coolion Show, emphasizes the importance of money, meaning, and self-mastery in life. In this episode, he shares seven lessons he wishes he knew 20 years ago to make more money and impact more lives. By making more money, we can solve financial problems, gain freedom, and have more options. Coolion uses his earnings to donate to charities, including Shriners Children's Hospital. Money allows us to live the life we desire, whether it's buying toys, paying off bills, or sending kids to college. Remember, money is always moving, so it's crucial to stay focused on growing your income.
Mindset and Money Attraction: Focus on solving problems, staying positive, and executing quickly to attract money. Delaying gratifications and controlling impulses are crucial for building wealth.
Money is attracted to those who solve problems and execute on solutions with a positive and optimistic attitude. To attract money, focus on exchanging value for it by providing solutions to people's needs. Being optimistic, positive, and executing quickly are key traits that attract money. Additionally, having the ability to delay gratifications and control impulses is crucial for building wealth. Money is always in motion, and it will either flow towards or away from you based on your mindset and actions. To ensure money flows towards you, focus on solving problems, staying positive, and executing quickly.
Focus and Delayed Gratification: Controlling impulses and reinvesting money into one business or industry instead of spending on immediate desires helps build a strong foundation for long-term success
To build wealth and be successful, it's essential to have a singular focus and delay gratification. This means controlling impulses and reinvesting money back into your business or industry instead of spending it on immediate desires. Mastering one thing and becoming an authority in an industry will help your business stand out from the competition and grow more effectively. Diversification can come later, once you've achieved mastery and growth in one area. As the speaker shared from his personal experience, he focused on mastering the fitness industry before expanding into other areas like supplements and apparel. By having a clear focus and delaying gratification, you can build a strong foundation for long-term success.
Investing in personal and business growth: Focus on mastering your craft, surround yourself with successful individuals, and invest in appreciating assets like education, real estate, crypto, and index funds for long-term success.
Focusing on mastering your craft and industry, rather than saving or using money frivolously, is key to long-term success. Surrounding yourself with successful individuals and investing in personal and business growth are essential steps to building wealth and achieving industry dominance. Money should be invested in appreciating assets, such as education, business development, real estate, crypto, and index funds, rather than depreciating items that provide short-term pleasure. It's important to remember that some investments, like a personal gym or a nice car, can bring joy and value to your life while still appreciating or depreciating in value. Ultimately, the goal is to invest in yourself and your future, rather than wasting money on things that won't contribute to your long-term growth.
Money and Time Management: Invest wisely in yourself, real estate, crypto, index funds, or stocks in companies like Netflix, Walmart, and Amazon, and buy back your time by delegating tasks to focus on what only you can do.
It's essential to wisely manage your money and time as an entrepreneur. Instead of spending it on depreciating assets or "dumb shit," consider investing it in yourself, your professional growth, real estate, crypto, index funds, or stocks in companies like Netflix, Walmart, and Amazon. These investments are more likely to appreciate over time. Additionally, buy back your time by delegating tasks to others and focusing on what only you can do. Your time is a finite commodity, and as the day goes on, its quality diminishes. By offloading tasks and hiring help, you can make more money and achieve financial freedom faster.
Leadership areas: Focus on leading, managing team, marketing, and selling. Delegate tasks, hire right people, and train/coach team to become assets. Marketing essential for leads, selling is ongoing process.
Effective leadership involves focusing on the right areas of your business, including leading and managing your team, marketing, and selling. By delegating tasks and hiring the right people, you can free up time to focus on these key areas. As a leader, it's important to train and coach your team to help them become assets rather than liabilities. Marketing is essential for getting attention and generating leads, and selling is an ongoing process that requires constant focus and improvement. Don't neglect these areas in favor of getting bogged down in the details. Instead, empower your team to handle the day-to-day operations while you focus on growing your business.
Impact of spouse on financial success: A supportive spouse significantly influences financial success and overall well-being of entrepreneurs, and it's essential to maintain a healthy partnership for long-term success
Every team member in a business plays a role in sales and success, and your spouse significantly impacts your financial success and overall well-being. The speaker emphasized the importance of managing your team, market, and product to attract attention and convert leads into sales. Moreover, he highlighted the importance of having a supportive and understanding spouse, as they greatly influence your ability to enjoy the financial success you achieve and maintain it long-term. The speaker encouraged viewers to reconsider their relationships if they are not supportive of their entrepreneurial endeavors and to work on fixing any toxic relationships if already married. Ultimately, the success, happiness, and financial longevity of a family depend on the partnership and support from your spouse.