I Asked Miami Millionaires How They Got Rich
School of Hard Knocks・23 minutes read
An individual shares their journey from arriving in the US with $78 to owning a private jet and selling two tech companies for eight figures, now making around $2 million annually, emphasizing the importance of focusing on people, sales, and numbers for success, and prioritizing business growth over immediate personal wealth. Miami is home to numerous millionaires, with a focus on successful entrepreneurs who stress the importance of investing in real estate, generating cash flow, and being personable in business dealings to achieve financial success.
Insights
- Success in business is linked to falling in love with people, sales, and numbers, emphasizing the importance of relationships, revenue generation, and financial management.
- Prioritizing business growth over immediate personal wealth, focusing on long-term financial freedom, patience, and decision-making that benefits all stakeholders are crucial lessons for building sustained wealth and success.
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Recent questions
How did the individual's financial journey begin?
With only $78, he arrived in the US.
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Summary
00:00
Miami Millionaires: Wealth, Success, and Advice
- The individual owns a private jet and two tech companies, which were later sold for eight figures.
- He arrived in the US with $78 and now makes around $2 million annually.
- He also owns a Lamborghini and a marketing agency in Miami.
- His highest yearly earnings were $5.5 million, with a net of $2.4 million.
- Miami is home to nearly 40,000 millionaires, with entrepreneurs sharing their wealth-building stories.
- A key lesson is to fall in love with people, sales, and numbers for success.
- Producers, not consumers, make the most money in society.
- Advice includes making speed work in your favor and avoiding procrastination.
- Successful individuals focus on solutions, not complaints, and work diligently while relying on prayer.
- An orthodontist in Miami lives in a $15 million mansion, earning significant income from fixing teeth.
10:36
"Real Estate, Education, and Business Success"
- The speaker discusses investing in real estate, focusing on practices that generate cash flow to avoid the need for external investors.
- They emphasize putting cash flow into shopping centers and medical buildings to continue growing their wealth.
- The speaker believes that higher education, like college, can aid in achieving success in today's society, especially in professions like medicine or law.
- They stress the importance of being personable and likable in business dealings, as it can lead to successful transactions.
- The speaker interviews a private jet owner who attributes his wealth to running his own business for 30 years, with annual earnings in the tens of millions.
- The private jet owner shares advice received from successful entrepreneurs, highlighting the importance of patience and making decisions that benefit clients, employees, and the company.
- The private jet owner's best business lesson involves prioritizing business growth over immediate personal wealth, focusing on becoming financially free rather than instantly rich.
