Your Personal Wealth Diary

There is a difference between getting rich and having wealth. I want to teach you to get rich, but I really want to teach you how to get wealthy. You can get rich quick but nobody gets wealthy quick. Wealth is the abundance of something in such surplus, that no condition can destroy it. It’s abundant—you can’t get rid of all of it. There’s so much that no matter what happens around the world, it can’t go away. Making a lot of money is one thing—getting wealthy is something entirely different.

How do you learn to do what wealthy people do? To start, stop saying things like, “Money won’t make me happy” because that’s false. People who are just getting by talk about money as though it’s a bad thing—but I promise you having buckets of money isn’t going to be a reason you’ll ever be unhappy. I want to outline the mistakes that most people make that the wealthy don’t.

#1 Not Using Debt—You’ve been told don’t use it, never use it, it’s evil. My boy Dave Ramsey says all debt is bad debt. If you do your homework and don’t just listen to the popular thinking that debt is somehow killing everyone, you’ll understand there are different kinds of debt.   There’s time to use debt and there’s time not to. When do you use debt? There’s no always in anything. All big companies use debt. Debt can be used to expand a business.

Debt is my ability to go into the marketplace and produce more income, not buy more things. I never use debt for consumption. Consumption is things like groceries or cars. Not all debt is created equal.   I use debt to build income. Debt is me going to the bank to borrow money to build my business. Look at Apple, they have $270 billion in cash. They borrow money from Japan. Why? Because they can use debt cheaper to explode income, to invest in equipment, and to do research to blow up their top line. I have over $200 million in debt. I’m not paying it—the tenants who live in my apartment buildings are paying down my $200 million debt while I get the write-off from the interest they are paying.

So when do you use debt? When it makes you more money, when you get a write-off, and when you can expand your business. Don’t believe that all debt is bad—get wealthy by using debt smartly.

#2 Money Shortage Mindset—If you were brought up poor or middle class you have a certain mindset. You believe that there is a shortage of money. Money doesn’t grow on trees, right? Well, there is more money on this planet than there are trees. You can print money faster than you can grow a tree. Money, here in the US, was actually printed from a cotton bush. By definition a bush is a tiny tree. That paper was cotton, so it’s not true that money doesn’t grow on trees. Money is everywhere.

Go outside and look around—the cars, the buildings, the people wearing clothes and ties, the retail centers, and the purses. There is no shortage of money. If you were brought up poor or middle-class you were brought up by people that believed money was in shortage. Turn the lights out, eat all your food, save the pennies—look, a penny is a PENNY. Fix this money shortage mindset. Start looking for money. See how much money is around you. There is abundance and opportunity everywhere. Get wealthy by seeing abundance.

#3 Looking at Prices—You know the old saying that if you have to know the price you can’t afford it? That’s actually not true.   Why are you looking at prices? If you’re looking at price you already have deceived yourself. Price is not your problem.   The price is not what you are buying. I did this for years—I’d go to a restaurant and look at the prices on the menu. Do you think the super wealthy worry about the price of a steak or a cup of coffee? Wealthy people don’t worry over price. They aren’t worried over a $30 book or a $1000 program. Their attention is focused on success.

Be focused on your income. The average American makes $52,000 a year where the average cost of living is higher than $52,000 a year. 76% of all Americans live paycheck to paycheck in the wealthiest country in the world. It’s no different for a person in America than it is for a guy in India making $2 a day. Neither has enough income. It’s no different. All the attention is on what things costs. Shift your attention away from price because price is not your problem. The problem is you don’t make enough income. Looking at prices is an indication that you’ve contracted financially. Get wealthy by focusing on your income, not prices.

These are just a few ways you can get started on the road to wealth. This is not a get-rich-quick scheme where if you start doing these things you’ll be a millionaire next week. These are rather broad principles that you need to embody if you ever want to become wealthy. Have you dreamed of becoming not just rich, but even super rich? Quit focusing on prices, refuse to see money as a shortage, and know that not all debt is bad.

3 Tips to Dominate with Follow-Ups

Look, most people don’t know that 63% of people requesting information on your product will not purchase for 3 months. That means for 2/3 of your clients you need to be paying attention to you for 90 days. 20% won’t buy for more than a year. 83% of people are not buying anything for somewhere between 90 days and 12 months. Some of the most loyal customers I’ve had took the longest to get. It’s vital to have superb follow-up, to have strategies, tactics, and a schedule to close customers later who you don’t close today.

With repetitive follow-up you will learn things you wouldn’t with minimal follow-up, like that the “decision maker” you’ve been talking to isn’t actually the decision maker. When I was 27 I was in a company and didn’t have any executive power, but I was the shot caller. If you could get to me I could get it done. Most vendors had no idea I was the most influential person in the company. Proper follow up can show you who the real influencers are and give you monster numbers of new sales.

Here are 3 ways to improve your follow-up today:

1. Gatekeeper Skills—The inability to get past gatekeepers is a big problem for many people. I’ve been asked for 30 years how to get past these filters. You have to be creative. You have to love gatekeepers—not hate them. If you hate on a gatekeeper, you’ll always be on the outside. You need to think like they think. They were given a task to protect their boss from people getting to them. You want to treat the gatekeeper like a million bucks. Most people treat the gatekeeper like they don’t exist, but the more the gatekeeper likes you the better off you’ll be. They have the keys to the deal. Send gifts. Tell them you appreciate them—pour it on. They have the keys to the gate!

2. Regular Newsletter—Use a newsletter or blog. They are great ways for you to stay in touch, establish, justify, and bring credibility to your brand. What do you do in a newsletter? It’s not about selling your product, even though you can do a little bit of that, the purpose of a newsletter or blog is to be first in your buyer’s mind. That means you have to give data. I do this newsletter once a week, usually on a Thursday or Friday, which you can sign up for at GrantCardoneSuccess.com, where I provide people with content. I want to remind people who I am, what I do and give data. Keep dripping and keep paying attention to them. Newsletters should be filled with helpful information.

3. Five “No” Calls and Flip—Whether in person or on the phone, on the first day start thinking about how you can move an individual to a no. “Hey, could you agree to move up this order date?” They’ll respond, “What do you mean I said I’m not doing this?” You respond with, “I know, the reason I’m calling is I just want to see if there’s any possibility, any chance of you moving up the order date”. They’ll say “No”. Boom, you got no #1. The thing to remember here is that you are in conversation and communication.

“Would you agree to take out the time in your decision making, assuming I can handle all other issues that you’ve mentioned?” Here I’m asking for the second no. “For your budget considerations of your next quarter, could we move up the schedule, if I could figure out how to delay the payment schedule?” Again I’m looking for a third no. Your question might be put another way—these are just examples. “Look, I really know how much your company is going to benefit from this product, this service, and that’s why I continue to persist with you. Can we do this? Can I get you to change your mind on this?” I’m looking for a fourth no.

“You’ve told me how you can’t do this, let me ask you how could you make it work?” This is the fifth no. Now the next call is where the flip is, where management makes a call for you to find out from this customer why they have not bought. “My name’s Grant, I’m the manager, I have a request. First of all, I have two questions for you, number one, do you have 25 seconds?” They say “yes”. Number two, “I want to know why you have not bought our product yet?” At that point just listen, the manager should not try and close, although a close may present itself.