Cash is king and sales is God you need to know the 3 kinds of money to be successful. Grant Cardone, New York Times Best Selling Author, sales and business expert explains the 3 kinds of money:
1. Bitch Money, (scared and squandered)
2. Grow Up Money, (reinvested for growth)
3. Baller Money, (major opportunities) such as buying real estate or buying other businesses.
Study the people who have money, and get away from those who don’t. Warren Buffet has 50 million and is always waiting for the easy lay up. He invests in things that stands the test of time and are always needed (gas, energy, railroads). When the “fat pitch” comes, he’s prepared to go all in. Learn from this. There’s no shortage of money. It doesn’t take money to make money. It takes courage. What you do with the money you earn makes all the difference. Grant offers excellent advice to a 20 year old with college debt just entering the workforce. He advises him to focus on paying yourself first, then go into the marketplace and offer
our value in exchange for money, this will generate more income and then you can pay off debt.
Grant offers a personal “Grow Up Money” example of his move from California to Florida and using the money he saves on 13% taxes to reinvest into growing his brand and businesses. He also admits he was 51 years old with “bitch money” because more money was going out than coming in.
He encourages all listeners to grow their incomes by getting great at what they do and once money is obtained save it for the purpose of investing in something down the road.