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🔢 Key Takeaways

  1. Dream big, challenge yourself, never settle for mediocrity, surround yourself with the right people, and let financial challenges motivate you to create wealth.
  2. Saying yes to experiences and interactions with people is the key to true wealth. Inflation is not scary, it's just a rise in prices. Mass opinion is usually wrong - go against the grain.
  3. The rise in prices due to supply chain issues caused by wealthy buyers paying premiums for unavailable goods, raising interest rates hurts the middle class, and all money should be insured to avoid financial instability.
  4. The US banking system is influenced by a small number of large banks, and wealth inequality is a result of the top-down pyramid structure. To succeed, it's crucial to understand how to make profitable investments and create a significant amount of money.
  5. Invest in real estate and ventures for tax benefits and partnership opportunities, follow successful investors like Buffett and Musk, and focus on growing wealth rather than dreaming without action.
  6. Personal development, mindset, and helping others are key to success according to Grant Cardone and Lewis House. While AI may be trendy, build relationships and network like major players. Craft a pitch and invest wisely.
  7. When entering new environments, focus on genuinely connecting with others and helping them overcome challenges. Ask the right questions and find ways to add value, as building relationships is the foundation of success in business.
  8. Don't let past mistakes or circumstances define you. Surround yourself with supportive people, challenge yourself, and take action towards your goals. Success requires a producer mindset, not a consumer mentality. Cherish memories with loved ones.
  9. To succeed in business, adopt a growth mindset and study successful leaders, their actions and strategies. Don't limit potential by setting small goals. Inflation may benefit certain industries. Aim for long-term legacy and dynasty goals.
  10. Setting a specific target is crucial to achieving ambitious goals in business. Don't be afraid to take risks and pursue unconventional paths, as they may lead to unexpected opportunities and success.
  11. To achieve success in entrepreneurship, set meaningful targets by assessing different paths and identifying key connections. Buying existing businesses and building relationships can generate fees and help achieve long-term goals. Focus on connections, not just money.
  12. To achieve exponential growth, prioritize human interaction in networking, reevaluate actions, and focus on targeted networking opportunities over speaking at events and social media use.
  13. Instead of relying solely on financial institutions, invest in assets like real estate. Hold yourself accountable and make necessary changes to reach important goals. Build wealth through owning assets, not just saving through 401k and IRA programs.
  14. Increase wealth by adding value, budgeting for overlooked expenses, and aiming for top 1%. Eliminate unnecessary spending for maximum return.
  15. Aim for a yearly income of $823,000 and find ways to make money while you sleep. Invest your earnings instead of spending them, and keep pushing to achieve your goal in shorter amounts of time. Living off endorsements and investing can lead to substantial wealth.
  16. Financial success is not just about becoming a millionaire but also creating wealth and passive income. However, extreme wealth can come with isolation, responsibility, criticism, and judgment. It's essential to find joy and excitement in life, no matter the financial status.
  17. Wealthy individuals should be aware of the privilege they possess and not overlook the struggles of others. Building relationships takes effort, and living within means is crucial. True happiness comes from personal growth, not material possessions.
  18. It's smart to invest in assets that generate passive income and to teach practical financial skills to children. Instead of giving allowances, consider paying them in investments for tax advantages and long-term financial success.
  19. Change your emotional relationship towards money, invest in guaranteed returns and confront hidden problems to minimize fear and discomfort around money.
  20. Take inventory of your finances and beliefs about money. Have multiple sources of income and spend wisely. Remember that money doesn't equal happiness; find purpose, make a positive impact, and make good decisions for yourself and your family to find happiness.
  21. Cardone finds happiness through action and achieving targets rather than solely trying to pursue it. He values time, health, and being around those who contribute while believing happiness cannot be quantified.
  22. Being true to oneself, surrounding oneself with enjoyable people, and leaving a lasting impact are crucial steps to achieving a fulfilling life, according to Grant Cardone.
  23. Being a good role model and making a positive impact on your children's lives can leave a lasting legacy that lasts beyond your physical presence. Mindful actions and words can leave a positive impression on your loved ones.
  24. Enjoy life, invest in relationships, compromise in business, aim for legacy, prepare for AI, and set ambitious goals for the future.
  25. Conversations about money are important before marriage, even more so in non-traditional relationships. Separate accounts can work but taking care of one's partner is crucial. Finding a partner with similar values and goals is key.
  26. Surround yourself with grateful and appreciative people who see opportunities in crises. Assess your finances and distinguish assets from liabilities. Be resilient and take action. A supportive community can help you achieve your goals.

📝 Podcast Notes

Grant Cardone's Success Secret: 10X Everything You Do

Grant Cardone reveals how he transformed from being almost broke to building a $4 billion asset. His success secret lies in constantly challenging himself to reach the next level of his wealth. He attributes his success to never settling for mediocrity and always striving to 10X everything he does. Most of us don't dream big, but doing so is crucial to break through our limitations. Grant mentions that building wealth is not just about money, but also about people. He encourages people to surround themselves with individuals who will help them grow financially and otherwise. According to him, inflation and scarcity should not be a reason for people to give up on their dreams. Instead, they should use it as a motivator to create wealth for themselves.

Real Wealth is About People, Not Possessions

Real wealth is about connecting with people, not just collecting material possessions. Grant Cardone believes in saying yes to almost everything as it adds experiences and interactions with people in his life. True wealth comes through people as everything is sold or purchased by someone. Inflation is not a boogeyman but an increased price of a desired commodity, which can also lead to increased value of products. It is the distribution and use of money that can lead to inflation, not the printing of it. Grant Cardone is a contrarian and believes that when masses of people agree on a topic, they are typically wrong.

Financial Instability Caused by Inflation and Interest Rates Increase

The rise in inflation and the increase in interest rates is causing financial instability. The rich are willing to pay a premium for goods they can't get, causing supply chain issues, and this is causing prices to rise. Housing material, cars, and homes have all become more expensive. Raising interest rates punishes the middle class and small, regional banks, and it won't solve the inflation problem. The five major banks in America are too big to fail, but small banks still have to have FDIC insurance. All money should be insured to any limit to avoid financial instability.

The Complex Banking System and Wealth Inequality in the US

The banking system in the US is not as straightforward as it seems, and it is heavily influenced by a small number of large banks like JP Morgan and Goldman Sachs. These banks make inside deals, buying out other companies and making massive profits and use their connections to their advantage. The middle class is a manufactured idea, created to justify why some people are in a certain financial position. Inflation is highly influenced by the amount of money that is printed, and it is crucial to understand the top of the pyramid structure and how to get there. To be successful, it is essential to think big, find a way to create a significant amount of money, and understand how to make profitable investments.

Shifting Your Mindset from Spending to Investing

If you want to be wealthy, you need to change your mindset and focus on investing rather than spending. Don't take out loans for college or homes, and don't diversify your investments with mutual funds or ETFs. Instead, invest in real estate and other ventures to get tax write-offs and raise money with partners. Additionally, follow successful investors like Warren Buffett and Elon Musk, who buy into companies they understand rather than jumping on trends. The middle class should shift their mentality to focus on investing and raising money rather than staying small and dreaming big without taking action.

Successful Entrepreneurs Share Secrets to Achieving Success

Successful entrepreneurs and authors Grant Cardone and Lewis House both emphasize the importance of personal development, mindset, and helping others in achieving success. They have both created successful businesses and written extensively on these topics. While the trend towards AI may draw attention and investment, Cardone cautions that people should not overinvest or overcommit in the hopes that it will solve all problems. Instead, he advises to follow the example of major players by raising funds, building relationships, and networking with others. Cardone also shares the importance of crafting a pitch when meeting new people and emphasizes his role as a private fund manager of $4 billion in multi-family real estate.

The Power of Building Strong Business Relationships

Building relationships is the key to success in business, and it is especially important when entering new environments. It's natural to feel uncomfortable in new situations, but being genuinely interested in others and helping them overcome their challenges can make you invaluable and help you build trust and credibility. Networking events and business conferences can be overwhelming, but focusing on asking the right questions and finding ways to add value can make all the difference. Relationships are the foundation of Lewis Howes' successful business and career, and they can be the key to yours as well.

Focus on Actions and Achievements - Not the Past

Don't let your past identity define you. Always focus on your current actions and achievements to showcase who you are now. It's important to be prepared for the right opportunities and surround yourself with people who push you to think bigger. Thinking bigger doesn't mean to overthink, but rather to challenge yourself beyond your comfort zone. Take as many photos as possible with your loved ones to cherish the memories. Don't let fear hold you back from dreaming big and taking action towards achieving your goals, because success requires thinking like a producer, an investor or a business owner, not a consumer.

Strategies for Achieving Long-Term Business Success

Owning a business requires a mindset of constantly seeking growth and aiming high. It is important to study successful business leaders, not just their words, but their actions and strategies. Social media can be bad for consumers, but beneficial for creators. Inflation can be advantageous in certain industries like real estate and sports team ownership. To achieve success, one must set their sights on achieving long-term legacy and dynasty goals. Setting small goals can limit potential and limit growth. It is important to have a growth mindset and constantly strive for success.

The Importance of Having a Clear Target for Success in Business

Grant Cardone emphasizes the importance of having a clear target and staying focused on it to achieve success in business. While reflecting on his past decisions, he acknowledges the mistake of not pursuing opportunities like learning golf, which could have led to a traditional finance career. However, he recognizes that the path he took led him to help millions of people in a way he wouldn't have been able to in a traditional finance career. Cardone also shares his goal of reaching $40 billion in assets in the next five years and highlights the need for a specific target to achieve such ambitious goals. He anticipates an upcoming market crash and believes it could be an opportunity for him to acquire larger companies.

The Key to Entrepreneurial Success: Meaningful Targets and Effective Connections

Entrepreneurs should focus on setting meaningful targets to achieve success rather than just starting a business. These targets should involve doing math to assess different ways to reach their goals, identifying the people they need to meet to help them achieve their goals, and buying businesses to take advantage of existing customers and brands instead of starting one from scratch. The most successful entrepreneurs focus on connecting with people rather than just being operators and use these connections to move money from one place to another, generating fees. Finally, entrepreneurs need to stop worrying about money and focus on connecting with the right people to achieve their goals.

The Importance of Human Interaction in Networking for Exponential Growth

In order to achieve exponential growth, it is essential to network with people and raise funds, but this cannot be done solely through AI or social media. Real human interaction is still necessary to build relationships and gain the trust of potential investors. It's also important to reevaluate the actions that have gotten you to your current success and decide which ones need to be abandoned in order to reach the next level. For example, it may be necessary to cut back on speaking at events and social media use in order to focus on more targeted and productive networking opportunities.

Grant Cardone on Wealth Building and Diversifying Investments

Grant Cardone highlights the importance of diversifying investments and taking control of your own wealth building by owning assets rather than giving money to financial institutions. He emphasizes the indoctrination program of financial institutions in teaching people to save through 401k, IRA, and Roth programs. Cardone recommends moving away from this system and investing in real estate or other assets to build wealth. He also stresses the need for change when moving up in life, giving up certain behaviors or actions, and holding oneself accountable to important goals. Cardone's ultimate goal of reaching 40 million is driven by his desire for impact and influence on a massive audience.

Tips on Multiplying Wealth by Collecting Money and Investing Above Basic Expenses

To multiply wealth, one must first collect money and then put everything above their basic living expenses into investments every month for at least 10 years. A key way to generate wealth is to focus on adding value to people's lives, which opens doors and creates opportunities. It is important to budget for the things that people typically overlook, such as security for loved ones and travel expenses. The goal should be to earn in the top 1% of the country. Getting rid of money, in terms of unnecessary spending, is also crucial to multiplying wealth.

How to Achieve Substantial Wealth by Focusing on Your Income

Focus on the money, not the job, and aim for an income of $823,000 a year. Break the number down to find ways to make money while you sleep, such as getting people to invest in your ideas or marketing yourself to reach a wider audience. Once you achieve your goal, keep pushing to achieve it in shorter amounts of time. Do not spend all your earned income, but invest it instead. Living off endorsements and investing all earned income for 10 years can lead to substantial wealth, such as being able to buy a billion dollars worth of real estate and potentially becoming worth two or three billion dollars.

Focusing on Wealth Creation and Joy in Life Beyond Financial Success

Grant Cardone challenges the idea that being a millionaire is enough to achieve financial success, and advocates for focusing on creating wealth and passive income instead. He also shares the dark side of extreme wealth, such as feeling isolated, having a lot of responsibility, and facing judgment and criticism from others. He emphasizes the importance of finding joy and excitement in life, regardless of financial status.

The Importance of Perspective for Wealthy Individuals

As people become more wealthy, they can forget about the struggles of those who are not as privileged. They begin to believe that everyone can achieve success through hard work and fail to acknowledge the unfairness in society. Wealthy individuals should remember that making connections and establishing relationships is not always easy, and they should not live above their means. It is essential to invest in oneself and continuously improve to increase one's value as a human being. Furthermore, the perception that people become happier with more wealth is a myth; it is only more of everything, including unsatisfying things like drugs and prostitution.

Investing in Income-Generating Assets and Teaching Financial Skills to Future-Proof Your Finances

It’s important to invest in assets that can generate income to support us when our earned income decreases or stops. Our target should not just be to make more money, but to have more money that we don’t necessarily make but can support us when we need it to. This income generating assets become our life insurance, KiwiSaver or retirement plan. We should invest in things that we own and that will also benefit us in terms of tax write offs, benefits, and loopholes. It’s also important to teach our kids practical skills, such as confronting people, negotiating, and financial management. Rather than giving them allowances, we can make them employees of our companies and pay them in investments, which has tax advantages and sets them up for financial success in the long run.

Creating Wealth through a Shift in Money Mindset

In order to create wealth, it's important to shift our mindset around money by being open about it and changing our emotional relationship towards it. This involves recognizing that money is a people game and investing in things that guarantee returns while avoiding degenerates and dead beats who spend more than they earn. Additionally, we need to face any hidden problems or secrets we have around money and be transparent about our financial situations. By doing so, we can minimize fear and discomfort around money and create a healthier emotional and spiritual connection to it.

Building a Healthy Relationship with Money

Money is often treated as a secret. People don't know how much they make or why they spend it. To build a healthy relationship with money, you need to inventory it and examine your beliefs about it. Remember to never depend on just one quarter, because you might lose it. Instead, have multiple quarters and spend them wisely. Money and happiness should not be connected, as they are separate conversations. While money may bring security and pride, it doesn't necessarily bring happiness. Rather, a sense of purpose, making a positive impact, and making good decisions for yourself and your family can bring happiness.

Grant Cardone Believes Measuring Accomplishments Brings More Joy Than Pursuing Happiness Directly

In a conversation between Lewis Howes and Grant Cardone, the latter emphasizes that he doesn't think much about happiness. Instead, he measures accomplishments, targets and helping others. He finds joy in taking action and the possibility of new challenges. Being around people who do not contribute or constantly talk about doing something makes him unhappy. Cardone values time and health which he believes can bring happiness only if surrounded by people he likes. He doesn't measure happiness and feels that it cannot be quantified. He believes that taking action and feeling fulfilled through achieving targets bring more happiness than solely trying to pursue it.

Grant Cardone on Prioritizing Happiness and Legacy over Financial Gain

Grant Cardone emphasizes the importance of being true to oneself and prioritizing happiness, contribution, impact, and legacy over financial gain. He believes that being around people one enjoys and doing deals only with those individuals is crucial to one's success and happiness. Cardone also shares his desire to extend his impact and relevance beyond his lifetime, inspired by the memory of his father's passing. He emphasizes that contributing to something larger than oneself and leaving a lasting legacy is a key to a fulfilling life. Cardone's candid approach and focus on living life with authenticity and purpose is a reminder to prioritize what truly matters in life.

The Importance of Leaving a Positive Legacy for Your Children

Legacy is an important aspect of life as it defines who we are and how we are remembered. While our physical form may not survive forever, it is believed that our consciousness remains. Hence, it is important to live a life that contributes positively to society and leaves an impact on those around us. Being a good parent is one of the most fulfilling aspects of life, and investing time and effort into your children is crucial. Children absorb everything that happens around them and remember it forever. Hence, it is essential to be mindful of our actions and words and ensure that we leave a positive impression on our loved ones.

Grant Cardone's Reflections and Future Plans

Grant Cardone reflects on his accomplishments in business and life and advises his future self to enjoy life more and invest more time in his relationships. He stresses the importance of compromise in business relationships but admits to regretting involving his significant other in adult activities. Cardone believes that legacy is important and aims for Cardone Capital to become a bank, giving everyone the power to control their own game. He sees AI destroying colleges and schools in the future and looks forward to the next 10 years, where he believes he can accomplish more than in the previous 65 years.

Grant Cardone and Lewis Howes discuss the challenges of intimate relationships, especially when both partners are successful. They stress the importance of having conversations around money before marriage, especially in non-traditional relationships where both partners are busy making money. They advise having separate accounts but also making sure to take care of one's partner. Cardone and his wife also have a business arrangement where she earns a piece of the action of the whole company, not just based on her individual contribution. Both emphasize the importance of finding the right partner and having similar values and goals.

Choosing the Right Partner and Building a Supportive Community for Business and Life

The right partner for business and life is someone who is grateful and appreciative, and someone who sees opportunities amidst crises. It is important to have great people around you who will support and prepare you for tough times, and who are on the same page as you. In times of financial instability, people should assess their finances and distinguish assets from liabilities in order to prepare for the potential opportunities that may arise. Surviving and thriving in a crisis requires foresight, resilience, and a willingness to take action. Lastly, having a supportive community like the one on social media helps individuals find their way and achieve their goals.