Grant Cardone

3 Things that Will Make or Break Your Sales Process

Without a shadow of a doubt, the close is the most important part of the sales process. That is because you cannot be valuable to your customer until you close them— i.e they can’t benefit from your product or service. This step is also where you will get 100% of your income. I want to share with you the 3 Things that Will Make or Break Your Sales Process because it is so critical to your survival as a salesperson. 

 

If you do these things along with the rest of your sales training, you’ll be on your way to becoming a master of the close. 

1. Your Relationship with the Customer 

 

The first thing that will make or break you in the close is your relationship with your customer. You need to make sure that you close your customer at the right time. If you don’t have a good understanding of what their needs are, your deal can break down very quickly. 

 

I want to be very clear. I am not talking about being nice here. You have to be willing to apply pressure and “tough love” to your customer. When you are completely sold on your product or service, you will not be afraid of pushing them. You will know closing them is the ethical thing to do. That brings us to our next point. 

 

2. How Sold Are YOU?  

 

This second point on this list should probably be number one because it affects your whole sales process with every prospect. 

 

To the degree that you are sold is the degree to which you can sell others. 

 

You need to completely believe in what you’re selling. Your customers will sense any doubt you feel about your product, which will influence your ability to close. This isn’t only for the benefit of your customer, it benefits you as well. Knowing you are doing the right thing by closing others on your product will make you feel better about yourself. 

 

Sales training can’t make you great if you aren’t convinced your product is the best. 

3. Be with the Decision-Maker 

 

Finally, the last thing that can affect your close: Are you with the decision-maker? You can be pumped about your product and have a great rapport with who you’re talking to; but if you’re not talking to the person who can write the check, there will be no close. 

 

Earlier on in the sales process, there are tools to find out if you’re with the decision-maker. You should also be aware that there can be more than one. 

 

Know who the decision-maker is, you need to sell and close them. 

 

These are the 3 things that can make or break you in the close. As you can see, they are all things that you can easily overcome once you spot them. Learning the rest of the sales process is important, but you will only be rewarded in the close. 

 

To learn more about the theory of the close and scripts for every situation, check out the course at cardoneuniversity.com.

 

Be Great,

Grant Cardone 

 

5 Ways to Market When Social Media is Down

What do you do when your entire business is based online, and social media is down? Well, if you remember, earlier this month, we couldn’t use social media for several hours. Naturally, businesses were freaking out because most of their sales and marketing happens on these social platforms. Here are 5 ways to market when social media is down so you can keep up with your business and don’t lose your social media audience:

1) Blogging – The simplest thing you can do when social media isn’t working is to blog. Now, you should always have a blog to get cold traffic to your website, but in this case, it’s important to rely on it. A blog post about the product or service’s features and a description of what sets it apart from others in its class works wonders. Keep it fun, educational, and a reminder of why someone should do business with you.

 

2) Emails – Another simple yet effective way to market your business and retain customers is through email marketing. Send out an email to customers about the social media issue and the date social media will be back up (if you know). Also, include your blog or website address in the email so they can check it out in the meantime. And if they have questions, they can call you directly or reply to your emails.

 

Traditional Marketing Strategies

 

3) Offline Marketing – You may want to try some offline marketing strategies. Handing out flyers or even having a stand on your property (if you are a brick-and-mortar) can be very effective ways of getting the word out. Sometimes, you have to whip out the good old-fashioned marketing strategies when situations like this happen.

 

4) Calls – Making telephone calls to clients and customers can be another effective marketing strategy. Cold-calling is often the LAST thing people want to do, but it can be practical when technology isn’t on your side. Make sure you are prepared to pick up the phone and polish up your sales pitch so you never miss a sale.

 

5) Referrals – Finally, referrals are another individual marketing strategy you can use. Get in touch with all of your current and past clients and ask them for referrals. When they refer new business to you, mention that this was a referral from someone who found you because social media was down when they were looking for businesses like yours.

 

In conclusion, there are many ways to market your business when social media isn’t quite cooperating. Which ones you use depend on your business and the industry it belongs to. The key is not to panic! Keep calm, have a plan of action for each scenario, and implement the marketing strategies that best suit your business needs. Remember, social media will be back up soon, and you will need to be prepared for when it does.

 

Need more ideas on ways to market and sell for your business in the case of a social media emergency? Check out our courses at cardoneuniversity.com. 

 

Be Great,

Grant Cardone

Successful Sales Strategies For Q4

Successful Sales Strategies For Q4

As you head into Q4, are you thinking about how to end off the year with a bang? You can achieve your Q4 financial goals, or they could go down in flames. You have to start thinking about what you can do so that your sales don’t decrease during this time. Start with these successful sales strategies for Q4 and watch your sales skyrocket.

 

Follow Up

Have your prospects disappeared recently? A great way to reel them back in is to follow up. Remember, I talk about over 20+ different ways you can follow up with potential buyers. Please ensure you get in front of them and keep following up until you get a definitive yes or no answer. The key here is consistency. You want to be persistent but not annoying.

Successful Sales Strategies For Q4

 

Think Outside of the Box

Don’t keep on doing what you’ve always done. Think outside of the box and come up with something new to get more sales in Q4. The holidays may mess up your sales (depending on what you’re selling), but it doesn’t have to. If you think about ways to get your prospects’ attention and think of ways to approach them differently, you may be surprised by the numbers.

 

Do the Impossible

Put your mind to the test and try to do something you’ve never done before in Q4. It could be something like creating a new marketing plan. What you need to do here is out-do yourself every single month. By doing this, you’ll not only meet your goals but exceed them in no time.

 

Create FOMO

There’s no better time than Q4 to create FOMO (the fear of missing out). Why? Because it’s nearing the end of the year, and usually the best deals pop up around this time and quite frankly don’t return until a year later. So if there’s any time to create FOMO, it’s now! This season is a chance to create urgency and get your prospects to buy now instead of wait.

 

Social Media Sales

Social media is a catalyst for sales, and what better way to sell to your prospects than over emojis and promotional emails. With this one, people will become inundated with holiday emails, Black Friday deals, Thanksgiving and more. It’s essential to decide on the best sales strategy and how you’ll stand out from your competition during this time. Use your master sales skills on digital platforms. Get people into your sales funnel and start building solid and long-lasting relationships with warm leads.

 

Relationship Building

Speaking of warm leads, why not focus on building relationships with them and focus less on metrics. We always get caught up in the numbers, but it’s important to remember you’re selling to another human. Place the focus on the prospect, their wants, needs, and challenges. Make sure that you listen carefully and qualify them before you start hard-selling them on your offer.

Successful Sales Strategies For Q4

 

Finally, make sure you take action according to the strategies above. Don’t let Q4 pass you by without maximizing its potential. By considering these steps and creating an incredible plan that will help you grow sales this holiday season. Remember that each quarter needs different sales strategies so, take some time to learn new ones with our sales courses available at cardoneuniversity.com.

 

 

Be Great,

Grant Cardone

How Does Your Sales Team Measure Up?

How Does Your Sales Team Measure Up?

How does your sales team measure up against other successful sales teams? A lot can be said about your sales team when you compare numbers with others. Are they selling enough? Are they making enough calls? Are they closing enough deals? What are their strategies? Are they trying new sales tactics? 

 

As we head into Q4, it’s crucial to note why your sales team isn’t measuring up. It’s not what your competition is doing. It’s not your pricing. It’s not your margin. It is that your sales team is…average. If you continue to accept ‘average’, you will get eaten up in the business world.

How Does Your Sales Team Measure Up?

 

My sales team consistently kills it daily. They close deals from morning until night and bring in hundreds of thousands of dollars per day. If you want your sales team to skyrocket your sales success, you have to train them not to be average.

 

In my book Be Obsessed Or Be Average, I talk about this all the time. There’s no way your sales team can pull outstanding numbers if they’re not taking the action they need to, to get the results they want. If you wish to profit millions, you’ll have to make it clear with your sales team about your goals and then, together, create a plan to achieve those sales goals. Let’s talk about how you can build an OBSESSED sales team that measures up and can consistently close deals. 

 

You need to SHIFT your mindset to be obsessed. You can’t build a great sales team if you are average or your manager is. You can’t make a great team with great people if the leadership is not obsessed with the dream. The top players in this world have one thing in common: Obsession. Average people do not produce obsessed results. That’s the bottom line.

 

It would be best to find people who are highly interested, highly engaged, excited to come to work and make more money. It doesn’t matter what demographic they are in; make sure they are hungry for more and genuinely want to succeed. If you can find these obsessed people, you will win the sales game and beat your competitors.

 

When you want to create a sales machine, it all starts with outstanding leadership. Elon Musk, Jeff Bezos, Howard Shultz, Einstein, and even Jesus Christ were all obsessed and produced their desired results. If you don’t have an obsessed leader, your team won’t be either. 

How Does Your Sales Team Measure Up?

 

Find inspiration from the most outstanding leaders of our time, and you will notice that all of them are obsessed with results and achieving their goals. They reach those goals every time because they want it badly enough and seek out people with the same vision who can help them produce those results.

 

You must be obsessed with the game, obsessed with results, obsessed with winning. If you play small, you will not find the obsessed people to build up a successful sales team. 

Learn more about how you can improve your sales team approach through cardoneuniversity.com.

 

Be great, 

Grant

Why Sales Teams Burnout

5 Reasons Why Sales Teams Burnout

Sales team burnout is a serious problem for sales organizations. Sales teams are the foundation of any company and carry the weight of the business’s future on their shoulders. It’s up to them to hit their quota, find qualified leads, and close almost every single one. But, at some point, salespeople burnout because of stress, lack of resources or maybe they’re not getting the results they want. Here are five reasons why sales teams burnout:  

 

1) They don’t know how to measure their success

 

Their job becomes difficult because they feel like they’re spinning their wheels at work, with no tangible results. There are steps you can take as a manager or leader of an organization to head off sales team burnout before it happens. One way is by educating your salesperson on sales metrics, giving salespeople a clear sales process to follow and providing sales coaching as needed. When your salespeople have a clear understanding of how they will measure success, you’ll notice a decrease in burnout and increase in their productivity.

Why Sales Teams Burnout

2) They do not have the right leadership

 

If salespeople are not encouraged, guided or supported on their sales journey, they can become burned out which makes the entire sales team burnout even worse. As a sales leader you play a vital role in motivating your salespeople and keeping them engaged. You need to inspire your salespeople by showing them you believe in them and their sales talent, make salespeople feel appreciated and create a sales culture where salespeople feel they can ask for help or feedback. By creating a positive and open environment for your salespeople to be open and transparent, there’s less of a chance they will feel burnout.

 

3) They lack motivation

 

If your sales team is not motivated, it’s difficult for salespeople to perform at a high level day-in and day-out. Salespeople need sales managers who can motivate salespeople. One of the most powerful ways sales managers motivate salespeople is through sales coaching. By providing sales coaching on an ongoing basis, sales managers can help salespeople stay motivated and energized to deliver results for the sales organization. If you want to know how you can keep your sales team motivated, you can learn more about it in our course here.

 

4) They have a negative outlook

 

Acknowledging that salespeople can get burned out and having a plan in place is crucial to preventing sales team burnout. Some of the tactics we use is our “no negativity allowed” policy. We help salespeople develop positive mindsets and believe they can be successful, no matter what they might be going through in their sales career. Having a negative attitude never gives you the results you want and if your sales team is being negative that is a big no-no.

Why Sales Teams Burnout

5) They stop learning about new sales strategies

 

They continue to use old methods that clearly aren’t producing results anymore. Times have changed. Prospects expect salespeople to be sales experts, sales leaders, and sales managers. As a sales manager or sales leader, it’s important to keep up with the latest sales strategies and sales tactics so you can properly train your sales team. If salespeople are not using the best sales strategies, they may feel like they’re spinning their wheels at work and feel like failures if they don’t make enough sales.

 

Sales teams will burnout if they are not motivated, don’t know how to measure their success, or don’t have the right leadership. The most important thing you can do as a sales manager is make sure your team is properly trained with the latest sales strategies and tactics so they continue to sell at high levels throughout their career. Burnout can happen to anyone but it’s important to remember that it isn’t permanent. If you want to learn about ways to motivate your sales team to avoid burnout, check out cardoneuniversity.com.

 

 

Be Great,

Grant Cardone

How To Be A Successful Leader

How To Be A Successful Leader

There are many different definitions of leadership, but there is one thing that all successful leaders have in common: They know how to inspire people and motivate them to take action. 

One way they do this is by telling stories or painting pictures with their words. The other way is through visioning. A successful leader knows what the goal should be and can articulate it in a clear, compelling, inspiring manner so that followers will want to help make it happen.

It’s not enough to just tell employees what needs doing; you need to show them why they should care about the task at hand and convince them that it matters for something bigger than themselves. Successful leaders are able to paint a picture of an ideal future state where these tasks are completed and a goal has been achieved. Here’s how to be a successful leader:

How To Be A Successful Leader

Show Up – Nothing happens unless you show up. You have a chance to get opportunities every single day when you decide to show up. Most people won’t either because they don’t care or they have a fixed mindset. A successful leader will show up every day and work hard. They understand that there are no shortcuts to getting somewhere great. Being consistent is the most important thing you can do.

 

Be Authentic – If people see who you truly are instead of an image, it gives them trust and respect for your authenticity. It isn’t easy to find someone that is always willing to be themselves and the same goes for the workplace. An authentic leader is someone that has a value driven mindset and shares their success with everyone in the company.

 

No Negativity Allowed – Negativity is what destroys your happiness, your career, your family and everything in between. It doesn’t matter what side of politics you are on, negativity is simply negative and as a leader you do not want to show negative emotions or spread negativity. A successful leader knows the importance of being the best version of themselves so they can lead others.

 

Work Ethic – To be a leader, you must work. Leaders are not lazy people. As a leader, you have to act as a role model to those around you. They are watching everything you do and say. So, if you are a hard worker, you grind, you hustle, you get things done, others will see that and match your hustle. To be a successful leader means you put in the work, the hours, the energy, the heart, and the passion into what you do. Without a strong work ethic, you won’t be able to properly lead a team or get the results you want. 

 

Provide Feedback – A successful leader knows how to give and receive feedback. They aren’t scared of confrontation and know how to separate emotions from truth and honesty. Feedback is something all leaders should strive to make become a habit, not only for their team but also for themselves. It’s important to be aware of your successes and failures, learn from them and move on.

 

Be Someone Worth Following – A successful leader will be someone who you want to work hard for, someone who creates opportunities for others and an individual that plays by the rules but bends them when necessary. Being a leader means having the qualities of those that you would want to follow, or those that your team will look up to and respect.

 

Be A Mentor – Successful leaders are mentors because they take the time out of their day to help others grow. They understand that part of being a great leader is mentoring and leading the next generation of leaders. It doesn’t just happen by itself, it takes time and patience but it’s very rewarding too.

How To Be A Successful Leader

 

Motivating people to take action isn’t an easy task. If done correctly, it can be the difference between a business flailing or flourishing. It’s also very difficult to do this as a one man team so you need to surround yourself with the right kind of people who share your vision and enthusiasm. Once you have your team together, it’s time to get down to business.

 

To sharpen your leadership or sales skills, find a course at cardoneuniversity.com

 

 

Be Great,

Grant Cardone

5 Rules to Hack Your Sales Game

5 Rules to Hack Your Sales Game

In sales, there are rules. These rules will  ensure your success if followed correctly. We’re about to cover the 5 rules to hack your sales game that will ultimately help you skyrocket your commission checks and keep your prospects running back to you again and again.

 

Rule #1: Always be seated when negotiating and closing

 

Missed by every seasoned prof, you’ll hardly ever close someone on your feet, negotiate terms on your seat. When you’re attempting agreement and closure, you also want your prospect seated. Even if your prospect stands up mid negotiation, you should remain seated, suggesting that you’re not done just yet. Don’t react. Stay seated. Staying seated shows your confidence and seriousness. If you stand up, it shows that something has changed. This may make your prospect leave and end the negotiations.

 

Rule #2: Always present your proposal in writing and clearly communicate it

 

People don’t believe what they hear, they believe what they see. Actions really do speak louder than words here. When you put your negotiation in writing, it’s automatically more credible and valued. Talk is cheap. Always have a contract and a legal pad. Anything of value should be written down, validated in writing and should be used to build your case of logic as to the many reasons someone would do business with you. It’s also important that you rehearse your proposal so that it is clearly communicated to the prospect. Your offer, your benefits, your presentation inclusions. Don’t cover your mouth, speak clearly and confidently so your offer is communicated in a way that suggests optimism, pride, and credibility.

5 Rules to Hack Your Sales Game

Rule #3: Know how to use humor to relieve pressure

 

This is a known art in sales and one of the oldest practices in the sales book. People love to connect with stories, especially ones with humor. It helps ease the pressure and gets prospects to relax. Everyone loves a good chuckle, but make sure that what you say doesn’t offend your prospect. Use humor that causes your prospect to feel good. When someone laughs, they’ll associate that positivity with you and want to continue doing business with you. Make them feel good, inspired and hopeful.

 

Rule #4: Always treat the buyer like they can

 

When you treat your prospect as though they have money, they will act as though they have it. They’ll even act in regards to money they don’t even have. This is simple buyer psychology; if you treat someone in a certain manner, they will respond accordingly. Every behavior, word, and facial expression from you must communicate that you’re treating the prospect in front of you as though they are someone who will say yes and go along with your proposal.

 

Rule #5: Always agree with the buyer and never disagree

 

Always, always, always agree with your buyer and NEVER disagree, no matter what they say. Now, this is completely different from the saying, “the customer is always right.” That’s absolutely not true, the customer isn’t always right. Whether they’re right or wrong isn’t the issue. If you want to resolve any sort of disagreement, it only requires you to agree with the other person’s point of view so you can actually handle the disagreement. Once you do this, you’ve created some commonality now. Disagreement only results in not closing a deal. Pro tip: you gotta be willing to lose the battle, to win the war (and win the sale).

 

Sales can be a complex process. More than likely, there’s many salespeople who struggle to win over customers because they haven’t been prospecting the right way or they’re not putting in enough effort. 

5 Rules to Hack Your Sales Game

To get inside of your prospects’ brain and learn how to further hack your sales game, check out The Closer’s Survival Guide course at cardoneuniversity.com where you can nail all 20 rules of closing sales.

 

Be Great,

Grant

Why Your Sales Team is Failing

Why Your Sales Team is Failing

This story is about a sales team that was boring and unmotivated. They were failing miserably and barely meeting their goals every quarter. The company asked me to come in and turn it around for them because they had tried everything else on the market with no success. 

 

I told them that if they wanted to be successful, they needed to make some changes right away. The biggest reason why your sales team is failing is likely because you don’t know how to keep them motivated. Here’s a list of ways to keep your sales team upbeat and motivated to crush their sales day:

Why Your Sales Team is Failing

1) Motivate your sales team by focusing on goals

 

Goals are the single most important part of getting motivated in a sales environment. It has to be done daily and throughout the day rather than once or twice a year. Meeting goals should be celebrated and failure should be analyzed. Goals should be set based on the performance of your sales team as a whole, and as individuals.

 

2) Motivate your sales team by giving them autonomy

 

Give the control to your sales team. Allow each individual to decide how they want to meet their goals and how they want to close their sales. If you allow them the freedom of making their own choices, your team will be more likely to try harder and to not give up when things get tough.

 

3) Motivate your sales team by allowing them to be creative

 

Allow the team to have some flexibility when they close their sales. Let them know that you will accept different ways of closing the sale, as long as it still leads to a sale. Make sure that all of their methods are tracked so they can monitor if a certain method or style is working better than another, but don’t get too detailed. Being too detailed will take the creativity away from them and make closing sales become a mundane task rather than an interesting challenge.

 

4) Motivate your sales team by letting them be creative in delivering their product

 

Tell your sales team that they need to try different ways of selling their products. Have them experiment with different methods of delivering their product, whether it be through a video sales letter or an audio. Every individual is unique and has different strengths. You can meet your goals by letting them use their strengths to deliver a product that is both effective and unique. 

 

5) Motivate your sales team by rewarding them

 

It’s a common myth that people work harder to avoid punishment than they do to gain something. In other words, if you take an action to avoid the negative consequences of something, it will probably never change. However, if you add a positive consequence to that action, the behavior will increase dramatically.

 

6) Motivate your sales team by leading them

 

The best leaders are the ones that know how to motivate a team. Your goal should be to train yourself to be the best leader you can be. If you are a great motivator, your sales will soar. People want to follow leaders that they can trust to get them through the struggles of life.

 

7) Motivate your sales team by being a positive motivator

 

The worst kind of leader is the negative one. If your sales team knows that you are upset or frustrated with them, they will probably start failing more now because their leader is unhappy. You should always be positive with your sales team and celebrate their wins as much or more than you criticize their failures.

Why Your Sales Team is Failing

Motivating your sales team to achieve better results is important. Want to learn how to improve your leadership skills and help your team skyrocket your sales? Check out the courses available at cardoneuniversity.com.

 

 

Be Great,

 

Grant Cardone

Three Ways to Close the Sale

Three Ways to Close the Sale

The art of closing sales is an elusive one. It takes a talent for persuasion, the know-how to present your offer in the best light possible, and an understanding that when you ask someone to buy something from you it’s not really about them at all. 

The customer doesn’t care about what they’re buying as much as how their purchase will make THEM feel. That said, there are some good ways and bad ways to close the sale. Here are three ways to close the sale:

1) Ask for it again – don’t let up until you get a “yes” or “no.” People often say yes after they’ve been worn down by pressure, but only if they still haven’t said no. Remember that persistence pays off. 

One of the best ways to close the sale is by asking questions. You could ask if they have any questions or concerns. Ask them how they feel about the purchase and what their final decision is going to be. 

If they say yes, then tell them everything you will do for them and get their signature on a receipt or contract before you walk away from the sale. If they’re still unsure about making a purchase or if they still have questions, tell them you’d be more than happy to help them and that you’ll follow up in two days.

2) Pull out all the stops – use every piece of evidence you have to show that they should buy from you. Compare yourself to how your competitor does business, how great your product is, and how well taken-care of they’ll be in your hands. 

Three Ways to Close the Sale

Be prepared with evidence of results, customer comments, testimonials and anything else you can use to make your case. By putting in the extra effort, you’ll convince your customer that you’ve gone the extra mile and gotten results.

3) Avoid the “yes” or “no” question – instead, ask them for a commitment. Ask them for something that only a “yes” answer will give you. For example, ask them to agree with you on a point or idea. Make it something small that you can build on to a bigger commitment. Or, ask them for their business card so you can follow up via phone or email. 

You have to get them to say “yes” in some way, shape or form – otherwise you’ve hit the end of your sales presentation. The more “yes” answers you can get from someone, the more likely it is that you will close the sale with them.

Three Ways to Close the Sale

Don’t let your sales call end with a “close.” When you ask someone to buy something from you, they’ll either say yes or no. If the answer is no, you can’t do anything about it except try another tactic and hope for a better result.

If you can tap into how your customer’s brain works at different stages in the purchasing process or lead funnel, you may be able to drive more sales with less effort. 

If all of this sounds intimidating and you want help putting these principles into practice, check out the sales courses we offer at cardoneuniversity.com to learn how you can master the art of closing.

 

Be Great,

Grant Cardone

5 Steps to Become a Millionaire

5 Steps to Become a Millionaire

You’ve probably heard the stories of lottery winners who are now bankrupt, celebrities who were swimming in cash but spent it all, and people who use up all of their extra cash on materialistic things. Is there a way to  keep from heading down that path and to become a millionaire? The answer is yes, and I’ve got the 5 steps to become a millionaire that you can follow in this post. 

 

Is money evil? The answer is NO. Most people see millionaires as greedy people who are above others. The thing is, millionaires have something in common,  and that is how they think. They see money as a tool, not an end all be all. They make their money, store it, and invest it to make them more money. The key here is that once they receive money, they know exactly where it’s going and what they’ll do with it. 

 

You can get to where you want to be financially, but you have to stay focused no matter what. Get rid of distractions like overspending or bad credit, and always keep in mind what you’re working toward. The end goal is what’s important here, so let’s dive into what the 5 steps to become a millionaire are. 

5 Steps to Become a Millionaire

Target

 

Set a big target and look at it daily. If you are currently struggling financially, all that means is you have the wrong target. Once you change the target – everything changes. People always ask me where I got the cash to make real estate investments and it’s the same every time: customers fund the transactions. I have my goal and everyone who has purchased a product or service has contributed to those transactions. Use your resources as a means to get to your goal target. 

 

Guaranteed Income

 

Guaranteed income is crucial to your investment plan. Think about it sort of like a jackpot you’ve got in the bank that will never disappoint you. It’s a big pile of money you can always fall back on. Guaranteed income could be something as simple as a steady paycheck, or even better, passive income from investments or products that are selling themselves without your help. 

 

I guarantee if you use this method, you will become a millionaire. Get your income not to what pays your bills, but to where you can save 40% of your gross income. For example, let’s say you make $30,000, you put $12,000 in storage, $12,000 goes to the IRS and that leaves you with $6,000. The remainder is what you set aside as “storage”.

 

Stay Broke & Invest The Storage

 

The goal here is to invest the storage money. Take your money and put it into a “sacred account” so no one can touch it and neither can you. Leave it alone. Don’t just get your money and blow it all. Once money lands in your bank account – store it and invest it. Live on the remainder of your income from working or even from passive income if you have a lot saved up. To live on less money, you can cut back on little things like fancy dinners out or an expensive cable package. 

 

Keep in mind: Do NOT risk this money; Don’t lose money. Figure out what you need to invest in instead of leaving it in the bank (because that’s losing money). Another thing here: Don’t buy cars, lease them, don’t buy homes, rent them. Try your best NOT to own anything. Stack cash and wait until you can put it in something that won’t be lost. 

 

Passive = Income

 

The passive income should now exceed your monthly income. This is why I like to save passive income over a period of time because it means you’re creating a cash cow that generates income without your own hands. So now, you should have guaranteed income and passive income. That’s called “safe money”. Run with that and keep stacking more in the bank. 

 

Give Yourself Time

 

Millionaires say that when they were young, they would always look into their future and say what they wanted, “I want to be a millionaire by age 20” or “I want to be a millionaire by 30”. Then, they would work their butts off until they were able to make that happen.  The point is, you need to set a target and stick with it. It takes time (and patience) and trust me, even the richest people have had to struggle at some point. Nothing happens overnight, so you have to work hard every single day to reach your goal.

5 Steps to Become a Millionaire

The key to becoming a millionaire is simple: It’s all about changing your perspective on money and not letting it control you. The 4 steps we went over will show you how you can become a millionaire with just the right mindset, some hard work, and perseverance. 

 

Start by setting your goal target – what do you want? What are your dreams? Then set up guaranteed income so that even if things don’t go as planned or an emergency comes up, you’ll still have something to fall back on financially. 

 

Once those two pieces of the puzzle are in place, start investing any extra cash into passive income streams like real estate investments or online businesses so that they’re generating more money for you without much effort at all! 

 

Is becoming a millionaire hard? Not really. Find out more about how YOU can start right now at cardoneuniversity.com.

 

Be Great,

 

Grant Cardone

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