The 3 biggest things entrepreneurs learned from a billionaire that make them rich
Date: June 23, 2015
Name: The 3 biggest things leaders learned from a billionaire that make them rich
Presenter: Douglas Vermeeren
Successful entrepreneurs follow a successful pattern. This pattern will lead entrepreneurs rich and financially free. Vancouver Entrepreneurs Group invites Douglas Vermeeren, the author of the Guerrilla Marketing series, to explain the hidden concepts that makes up the necessary pattern or blueprint for entrepreneurs to be successful. Moreover, Douglas Vermeeren will give all entrepreneurs the missing piece of their puzzle to become financially free. This presentation will help entrepreneurs to set the right mindset and attitude to become wealthy and maximize their bottom line.
Douglas Vermeeren is considered to be The Modern Day Napoleon Hill. Vermeeren is a professional motivational speaker and has successfully help many entrepreneurs transform their patterns. The author of Guerrilla Millionaire, Millionaire Wisdom and The Millionaire Frequency, Vermeeren has help entrepreneurs to find their purposes and clarity. Moreover, Vermeeren is the producer behind The Opus, The Gratitude Experiment and Wealth Creation. Vermeeren has involved with many media coverage, and Vermeeren has the passion to change the lives of successful entrepreneurs.
Douglas Vermeeren believes the reason why people hate rich people because they could not do what rich people can do. Entrepreneurs can discover their past by looking at their current situation. Nevertheless, entrepreneurs can discover their future by looking at their current decisions.
“What is the return of doing nothing? nothing”
Vermeeren shares his career change started from a book called “Think and Grow Rich”. The author, Napoleon Hill, changed his life and he started to connect with successful entrepreneurs. Instead of learning from photocopy, Vermeeren wanted to learn from the main source.
Vermeeren shares a question that helps him continue his learning. The question is “Who else do you know I should talk to?” This standard question is able to help Vermeeren interview many successful entrepreneurs.
The interview gave him the wealth advice. After Vermeeren applied the advice, he could see the wealthy result. Vermeeren began to teach his advice and concepts. Most entrepreneurs go from point A to point B by trial and error and struggle, Vermeeren is willing to be entrepreneurs’ mentor to lead them to a faster route. Vermeeren always remembered his mentor told him that it needs thinking and experience to take a $400,000 idea to execute a $400,000 profit.
Vermeeren believes money comes and go, but opportunity comes rarely. The real cost is if entrepreneurs do not even try it. Vermeeren emphasizes entrepreneur is someone who has something they want to contribute.
The biggest key of wealth is gratitude. Vermeeren wants entrepreneurs to think money is not just making money, it is contributing back to community.
Here are some common reasons why people want to be rich.
| Finanically Free | Improve lifestyle | More respect |
| Prepare for retirement | Quit current job | More time |
| Support struggling | Own business | More freedom of choice |
| Get of the personal debt | Acquire Assets |
Successful entrepreneurs always have the certain patterns that lead them to success. Therefore, Vermeeren will share 3 key elements that he learned from billionaire and 2 additional key elements to sustain the pattern.
Key Element #Clarity vision and direction
There are 4 stages entrepreneurs will go through: financial insecurity, financial security, financial free, and financial abundance. Many people only know experience, but Vermeeren believes in order to achieve financial abundance, entrepreneurs need to know what their dreams really cost. If entrepreneurs want to be billionaire, they need to look and break down their goals until it is more retainable.
Vermeeren suggests entrepreneurs to do one step at a time and find the right recipes that are specific and clear.
Vermeeren shares there are 4 pillars to achieve self made millionaire. The first pillar is to own business and not operate it. Until the timing is right, entrepreneurs need to sell it for profit. The second pillar is real estate. The third pillar is investment. The more easy and accessible of opportunities, the less interest of return will receive. The last pillar is intellectual property. It is not about the resource, yet it is about creativity and innovative.
Key Element #2: Skills
Average entrepreneurs can only reach up to $200,000 revenue per year. The difference of millionaire and those average entrepreneurs is the skill. Vermeeren mentions the most expensive thing in the world is ignorance because it will cost time. Once time is gone, it is gone forever.
Many entrepreneurs are advised to be a good money manager. They will stop at the point where they discover the excess of cash flow. However, successful entrepreneurs are advised to be a good money strategist. They will take the excess of cash flow and do smart moves, such as reinvest themselves for better skill set.
Key Element #3: Action
An advice from Vermeeren is that entrepreneurs should not be a dork of their money. Successful entrepreneurs will spend money on three major areas.
- Quality of life
- To create
- To contribute
Everything entrepreneurs buy is their investment. Their choice how they live and they need to expand. Contribution will provide the most joy in life, and creation is where all the money is made. In average, people only spend 10% of their actions in the area of creation. Furthermore, successful entrepreneurs will spend most of their actions in creation.
“People think it is only $20 dollar, but what you do with that $20 counts”
When entrepreneurs spend money, they will make money. This is called investment and that is the way rich people get rich. Vermeeren suggests entrepreneurs to figure out what things they are excited about. Entrepreneurs should do things they will never regret in the future.
Successful entrepreneurs will only invest things that are easy to understand. Simplify is the key. Vermeeren believes if entrepreneurs want to have wealth, they cannot delegate thinking to someone else.
When opportunity comes, many people will think how much will it cost. Vermeeren indicates the right question is to think how much will it make. When entrepreneurs have more experience, they will move from risk to evaluation.
“You need to be at the right frequency, but you need to keep doing it frequently”
Key Element #4: Optimize your environment
Successful entrepreneurs’ income determine by the average of 5 people they spend their time with. Therefore, they need to build network.
Vermeeren shares the word “Network” is actually two words. It is a “net” and you need to “work” for it. When the net becomes bigger, entrepreneurs will realize their difficult problems will get simpler. The key is to find the right people for the right insight. If entrepreneurs have high worth of people in their network, it will help them.
To distinguish the right people, Vermeeren suggests entrepreneurs to rank their network into five different piles. All relationship is in motion so people might move from one pile to another. This will help entrepreneurs to determine the priority in their network.
Key Element #5: Mastering psychology
People are who they are by how they think. What they understand and what they do are based on what they think. When entrepreneurs say they cannot afford it, Vermeeren treats it as scarcity statement. When entrepreneurs are caught themselves with scarcity statement, they need to change it so their thinking will not be influenced.
“If you do not know does not mean you cannot”
Vermeeren shows that building wealth needs consistency and beliefs. Entrepreneurs need to believe they can do better. When entrepreneurs believe themselves, their mindset will trigger and believe it can be true.
In average, entrepreneurs can be millionaire within 2 years. If entrepreneurs do not act, time will pass either way. Therefore, the benefit of learning to be rich can come form personal reason. Learning to be rich and help entrepreneurs approach investment and create jobs for others. It is also have the benefit of supporting family and relationship. Entrepreneurs can use the learning to give back to the community and leave a legacy. Vermeeren believes if entrepreneurs are not willing to give back when they are broke, they are unlikely to give back when they are rich.
“Your wealth is not going to change unless you commit”
