The 8 Rules of Making Your First $1,000,000

The Tai Lopez Show

“You better not just be happy with a 9-to-5 job.” - Tai Lopez

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Making a million dollars isn’t for everybody.

But for those of us who wish to pursue this financial milestone, we’ll need a framework to follow. Without such a thing, the stress and stimuli that come with this endeavor is too much for a human being to bear. Thus, it’s important to set parameters on what you can can’t do during this pocket of your life.

That’s why on today’s episode of The Tai Lopez Show, we are discussing the 8 rules of making your first million. When we pursue our entrepreneurial dreams, we must do our due diligence to have the best chance at success. Tune in to this episode to learn the intricacies of the the jungle of making money, so you know what to expect when you decide to pursue your passion with full force!

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“The best time management is spending the majority of the day on things you’re naturally good at.” - Tai Lopez

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Points to Keep In Mind

• Warren Buffet says the most correlated factor to making your first million dollars is the age in which you start
• The #1 reason why people give up on making their first million is an expectation of it being easy
• Your first business should be service-based where you sell your time (dog-walking, personal training, etc.)
• Today, you should start Internet-based businesses (social media marketing, home-sharing, e-commerce, etc.)
• As you rise in wealth, prepare for betrayal by developing thick skin
• “A nation is born stoic, and dies epicurean.” - Will Durant
• Read Managing Oneself by Peter Drucker to learn about time management
• Read Quiet: The Power of Introverts in a World That Can't Stop Talking
• Be sure you’re only working hard once you figure out what works for you
• Experiment with at least 12 different business ideas before settling on one
• There are 4 M’s to motivation: money/materialism, mating/love, movement/freedom, mastery/status
• Start with reading every day to develop repetitive skills

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