A couple of years ago, I stopped in at a new coffee shop that had opened in my town in California. It looked super cool, and I was hoping they served acai bowls.
Sadly, the coffee shop didn’t have them. But a guy in line heard me asking, and he approached me. He told me he and his wife were planning to open a health food restaurant, and they would have great acai bowls.
I was super excited to hear it! We exchanged contact info, and eventually, I met with them to talk about possibly helping out with funding.
Now, if I’m going to be involved in something, I want to know who I’m dealing with – their “why”, their purpose, and if their purpose is the right fit for them. So I asked them some basic questions about their goals.
They told me creating wealth was extremely important to them. She was a business coach, and he was a mortgage broker. They were both doing well – and earned about $100 grand each, each year. They worked for themselves, meaning they ran their businesses and provided the services.
Now for a lot of people, this sounds like a dream, yes or yes? They both had six-figure incomes working for themselves.
But here’s the thing – even at $200,000, they were barely making a living! Building wealth wasn’t even a remote possibility. They had 3 kids headed for college, they paid a lot in taxes and for their mortgage, and with what was left, they couldn’t do or have the things they wanted.
So here’s a question: are you in a situation where, in order to earn an income, you have to be involved? That could mean either working a job or having your own business like this couple.
If you said yes, that sucks.
And not because it’s inherently bad. It sucks IF one of your primary goals is to create wealth.
The number one rule for wealth is: there are no limits on your income. But your time and energy do have limits, so if your income depends on them, it’s limited too!
If you’re trying to get rich like this, it’s like you’re playing tennis on a soccer field! You’re not even on the right court!
If you want to win at tennis, you need to be on a tennis court, and if you want to create wealth, you have to be on a wealth court. Whatever you want to achieve, you need to be in the right place for the game you’re intending to play.
To explain this, let’s look at what it takes to achieve the different levels of wealth.
The Three Levels Of Wealth And How To Achieve Them
To create financial success, the first step is to get clear on what you want.
There’s no right or wrong answer, but you should know what you want and what you’re choosing. So to make this super simple, I’ve defined 3 basic categories for you: 1) earning a living, 2) financial freedom, and 3) building wealth.
I focus on numbers 2 and 3 with my students. Number one is fine for a lot of people, but if that’s what you’re aiming for, I’m not the best teacher for you. I’m just including it here so you can understand the difference.
So let’s look at each of these.
Earning a Living
If you have a decent income and you save some of it, you can have a decent living. If you don’t save any of it, you’re not going to have a decent living. You’re always gonna be living in fear and stressing about money because you won’t have any…since you already spent all of it!
I don’t care whether you earn $100,000 or $500,000. If you spend it all, you will live in fear and stress and die of a freakin’ heart attack. So a decent living is the minimum you should be aiming for.
Financial Freedom
Then the next stage is financial freedom.
Does financial freedom mean you’re rich? It can, but not necessarily.
Is freedom good? Yes, I think freedom is really good, and that’s why in our programs we teach you to become financially free at Level 1. Freedom comes before rich.
Here’s what I mean. For the first time now, you have another element – another workhorse – working for you, and that is what? Money. Your money is generating more money for you.
This is about adding to your living with investments.
Now you might say, “I don’t have a lot of money, so how could that work?” You need to start. That’s why you have to have a financial freedom account. It’s easy to start an investment plan with just 10% of all your income going into that account.
You’re going to start like everybody else with $100. Eventually, it will be $200. Then it will be $500, and then $1,000. You start where you start, and eventually, your money is producing enough new money to cover all your needs and wants. That’s freedom.
Wealth
Now let’s talk about building wealth and getting rich. First, let’s get on the same page about what “rich” means.
In general terms, I’m going to start “rich” at a minimum of $5 million in net worth. That’s the starting point of rich.
So now how do we get to rich? Well, the number one rule for building wealth is: there are no limits on your income.
One way is if you can build up enough financial freedom elements, that can lead to getting rich over time. But there’s a faster way.
And that is to have a vehicle that has the possibility of creating wealth – it has to create some serious income. I’m talking about a business. But not just any business, a wealth-generating business. If you have to be there in order for your income to happen, you do not own a wealth-generating business.
For a lot of people, if you’re not in a job, and you “own your own business” like the couple I mentioned at the beginning, here’s what’s happening…
You own a job. It’s called a “personal service business”, but it’s a job with you as the boss. And that can be the worst boss you can possibly have because you never get away from them!
For a business to make you rich, you have to ask, “Will this vehicle allow me to leverage, systemize, and get out of here…and still deliver the value through other people, other technologies, and other means?”
The value must be delivered, and the problem must be solved for the clients, but not by you.
Now does it start like that? No. Usually, at first, you have to be the one who does every freakin’ thing in the business, yes or yes?
But if you want to build wealth, you need to be looking beyond that stage and taking steps to remove yourself as soon as possible. When you have a business that generates a lot of money without your involvement, then you can get rich!
Boom.
Know What You Want And Get In The Right Position
Now, I don’t tell everyone, “You have to be wealthy.”
You just need to know what you want in your life. If you want to create wealth, this is what you need to do. You need to run the freakin’ show and then hand it off. And no matter what you want, you need to be real with yourself and take charge of the steering wheel of your life.
Going back to my lunch conversation with the would-be restaurant owners, it was frustrating for me to hear these two wonderful, beautiful human beings who are hard workers, describing the road they were on, which would NOT lead to wealth. Yet they were saying, “We want wealth.”
I told them, “You can be financially free, but you’re not going to get rich. I’m sorry to have to be the one to break the news to you, but it’s better you find out now than in 20 freakin’ years doing the same freakin’ thing.”
And not only would their service businesses not make them rich, but if they tried to add in the restaurant, their energies would end up being too scattered, and they could struggle even more just to earn a living. I know, because that’s what I did for years.
I told them that to be successful you have to focus 100% or it’s not gonna work. And that if you are going to focus that amount of energy, it better be something that you really want to put your heart and soul into.
They went back with that advice and came to a decision that the restaurant wasn’t really what they wanted to do. They had just thought it was a good opportunity.
We’re still friends. He decided to put 100% focus on his mortgage company that he’d turned away from, and last I heard he’s doing extremely well and really enjoying it. And she really loves coaching.
They’re earning a great living and moving toward financial freedom. And they’re already more free internally because they’re focused on doing what they love. If they decide at some point they want to grow their businesses into wealth-building vehicles, they can do it. But by getting clear on what they valued most, they were able to get on the best playing field for that.
Remember, if you want to win at tennis, you need to get on a tennis court.
And if you truly want to create wealth, and you’re willing to do whatever it takes, you have to get on a wealth court. AND, you have to get yourself into the right position. Can you guess where that is?
The wealth position is on the SIDELINE of your own court, letting others play the game!
Okay, your turn. What do you want for your financial life, and how are you creating that for yourself? Share in the comments!
For Your Freedom,
Thanks for the great suggestion. I learned a lot from this artical.
I want to be financially free by:
1. Build my business, systemize it and let it run without me.
2. Buy an asset such as real estate with my business and earn an positive cash flow.
3. Invest
How about it? Thank you T.harv
I am truly grateful to you for creating so fundamentally each and every aspect for creating financial freedom in life thank you so much
Agree, I have attended Millionair Mind Intensive in India and applied many of those principles. Although, my income level had dropped 7-10 times before the course. I started attracting wealth and invested in fixed deposited.
Unlike before, I am now self employed and do what I really Love. Which is Healing and Coaching.
I was focused on Financial Freedom since MMI, with this article I am going to change it to wealth generation
The best article Ive read in my life
Gracias! Desde México City
Hi Harv
I’ve already begun taking ACTION and am moving towards building a business i love with the intention that soon i wouls not need to be there in order to run it.
Two parts of my business will help me become financially free and one part will help me sooner to get to a point that i can be wealthy..
Hi Harv
I’ve already begun taking ACTION and am moving towards building a business i love with the intention that soon i would not need to be there in order to run it.
Two parts of my business will help me become financially free and one part will help me sooner to get to a point that i can be wealthy..
Agree. How when you are starting all over again? I have nothing left. Don’t I need a full time job to get going properly? I am working on 2nd book. But still have $180k student loans left too!
Dear Harv,
thank you for this lifechanging article. I have a question if I may. Is helping other people (giving money) allowed in any of these formulas? Or better, do you have an urge to help people (friends, family)..) financially and how do you deal with it. Tnx
You do that through your Charity account…
goood
I just hit rock bottom on my IT firm with my server stolen and the systems attached gone also so it’s all lost.
Designs
Files
Document
Invoices
Poof.
I have 2 hand wash outlets at 2 separate locations in town. Older location is doing better now since I changed supervisors but our activities there are restricted to car washing alone and location 2 is new and still struggling but we have total control and can do a few more like drinks, saloon, Small bites and music but for now we just have the wash. I do not need to be there physically for Service to be rendered but location 2 needs financial input to add the frills so I have approach a few persons but it’s been a brick wall even to partnership so I am looking at taking up a paying job.
I am in Edo State in Nigeria.
What’s your advise
You are my idol when I read your book secrets of the Millionaire ‘s Mind. I really appreciate you sharing us your financial knowledge which are molding us to become rich and later wealthy. Thanks you and God bless you more!
I have had financial freedom, which I lost with a few bad decisions. Now I want to build wealth!
I want wealth. And I am following every step indicated in the book “ Secrets of the Millionaire Mind”. My goal is to become a millionaire in three fields, the testile industry, marketing and public speaking.
Thanks for both Harv.
I want wealth. And I am following every step indicated in the book “ Secrets of the Millionaire Mind”. My goal is to become a millionaire in three fields, the testile industry, marketing and public speaking.
Thanks Harv.
Correction: I meant textile and not textile. The dictionary corrected it. Sorry hahaha
Thanks for reminding me that I need to understand what my WHAT is. That there is a difference from generating an income and being wealthy. That there are three different mindsets & game plays. That there is a difference from working for someone, working for myself & money generated without me & being able to invest. And, I need to be focused on what tract I really am on to know if I am really doing anything. It’s like having a compass reading. Thank you.
Iam a student I have no income how can I become wealthy
Thanks for share those wise words. It shows us how is important to have a plan for each stage. It depends of us, but this information is realy helpful. i apreciate it.
Greetings Harv!
thanks so much . I want to build wealth . I have started the process by my income + saving + investment which am having interest of 12.4% in 185 days of total investment. which am going to use to start my business that am at the one running it. then going into real estate. Thanks so grateful
I want to be financially free..
I have a women western wear brand RSVP Cross and I want to create a Structure so that I can be dispensable..
I’m taking lessons on the stock market and I want to be wealthy in the next five years..
Thanks Harv for your insights and guidance.
Love you
Roli
India
My first language is Spanish. I understand English read in English and write English .I am a retired surgeon but I would like to become a trainer in Spanish in Miami,Caribbean and South American areas. Please guide me in this goal. Thank you
just getting started, great helpful information
I would like to create financial freedom
T, Harv Eker you ROCK!!! I have your book SECRETS OF THE MILLIONAIRE MIND and I call it my Bible. Your book put me on the path to understanding my fear of money, and how being conditioned from childhood is what has binds people and myself to a poverty mindset. You resonate with my soul. Thank you.
Hit the nail on the head
Very little spare cash. Retired on pension. Former teacher, mental trainer in sport.
You never cease to amaze me…you are appreciated beyond expression! Thank you
I run my own business, and we are in the food industry. There seems to be no way to just get away from it & let it run on its own. Its like a full time thing that sucks up all the energy and time
I want financial freedom and wealth and am already trying to follow your ideas in your book and training programs
Amazing article really made the point of getting in charge of your financial life.
Well for starters just attended your MMI course in Mumbai & have registered for the Quantum Leap
programme as it felt the best possible thing to do, to get started on my journey to become Rich & Wealthy by creating wealth generating businesses.
Thanks a lot Mr. Harv Eker for the article.
THANK YOU SIR FOR GREAT LESSON TOLD TO US AND HOW TO CERATE WEALTH FOR OUR SELF
That was awesome read, facing the truth where you are and doing what you enjoy, I to win tennis you have to be on a tennis court
Wow, imagine if I could financially free and create more wealth by doing what I love. My life would be better, I can help more people in need.
By the way I live in a third world island country but I believe in you training programmes. They could all make a difference.
Thank you Harv
Jonathan
I have a business idea (selling home Decor) but I would like to expand that into something that I’m truly passionate about (using my talent toward interior design), but I need much guidance on how to get on a wealth court as you’ve previously mentioned. I’m not sure where to start, but if I go into this 100% I would have to make time to do this because I am a very busy person and I have a 9 to 5 job.
I want it Truly financially free by changing my point of view about how money is really important and what it can bring me for a better future and Of course by using the formula of wealth.
I WANT TO HAVE A WEALTH GENERATING COURT BUT I HAVE NO IDEA WHERE TO START
Thank you do much for another Great lesson. I love the clarity with you explain.
Thank you so much.
I am reading your book “ Secrets of the Millionaire Mind” over and over again. It is like Holy Bible to me.
Thank for sharing. I´ve been in the lowest level of the wealth´s road map for the last two years, investing and working on my self development, it’s been hard but I’m on the way.
it came right on time! I am studying to be a translator but somehow I couldn’t focus. I am planning to initiate my own business but of course I should have to split my time and I also have a 3 year-old daughter. I guess that’s s good perspective. Maybe,just for now I have to focus in one thing,maybe,there’s an opportunity equally exciting in my own field. At this moment,is hard to tell.
Thank u so much
Hi everyone ,
I run an international languages translation company (spanish, english, french, german, italian, turkish and chinese) doing really well ever since I started listening to the greatest speakers in the world (Jim rohn, Less brown, Tony Robins, Zig ziglar, Bob proctor, Sonia Ricotti, among others) and I specially have to acknowledge the fantastic influence and development tha Harv´s teachings have caused in my life, I hope to be able to meet him personally some time some where. As for the article; it really got me thinking.. I am at level 2 beginner (financial freedom) and now looking forward to level 3 (wealth).. which has a tricky part to it, on how to come off the picture.. any advice on this would be very appreciated¡¡
Thanks very much Harv, God bless you greatly¡
Spectacular article!
Thank you very much. I appreciate you.
Thank you, Harv. Clarity, right venue, focus, action, freedom, true wealth… wonderful! Someday soon when my family becomes wealthy, this article would be one of the answers as to how we got there. Thank you!
Thank you Harv. Really i am grateful for you. Surely some day we will speak in a similar conversation. Lol.
You’re great man. God bless.
Thanks. Bray from Colombia
Thanks for the insight, i want financial freedom. I have lots of business ideas on my mind, but I think I need a job to fuel any if it. Presently i am into wig-cap making , I just finished with my schooling and yet to get a job so I decided to start out with that. What other advice do you have for me?
Thanks
Great insights there! Thank you T.Harv. I am from Zimbabwe and l want to get wealthy. I would like to be able to leave behind an inheritance for my children. I need advice on how to start building wealth from scratch. My niche is in water and sanitation.
I want to be financially free someday we have life Insurance and we need a passive income. My husband is ofw in Saudi and I’m a full-time mom I have 1 son. I have travel and tour business doing it homebase. And I’m planning to go agriculture business with networking. Thank you for sharing what you’ve got you really inspires us. And wanna know more beacuse I’m just starting to dream to be a financially free and Millionaire in any aspects of my life. I love the way you speak and deliver words. You trully a blessing to us. God bless you!
Thank you Mr. T Harv
Good Article it showed me so many things to think about and take the right Actions
Thanks so much… This is Robert Kiwalabye from Uganda. I read every word and surprisingly, it’s what I decided to do for my company so hopefully I make it.
Very helpful As a young upcoming entrepreneur……
I like the statement, “The wealth position is on the SIDELINE of your own court, letting others play the game!”
Let me be more vigil
This has opened my mind to questions I need to ask myself.
Thank you for this million dollar piece.
Thank you for this information. For now I want to move from earning a descent living and move to financial freedom. I am slowly building my business so that I can eventually start building wealth by working on the business.
Thanks, great insight with clarity. I have a better understanding now
Yes I
need to be in the right place for the game i intending to play.
I have already thought of this and am a Google webmaster, Search engine master and want to offer anyone an opportunity to have a website that can generate money while you vacation. You provide knowlege and you sell that in the ebook I help you create plus on my platform we interlink with others and help each other to the top. Rhonda Maza
Harv you’re brilliant I know some amazing women out of Toronto that have alot of repect for you! Great article… I got this, you must own the court and own the game and watch the players from the sidelines. Thanks!
I’m going to start a business that allows me to quit my 2 part time jobs and focus on life! Planning for building a business that I’ll be proud of and that will enable me to help others, which makes me happy.
I want to live life not as I am now, worried about bills and the health concerns that worry has wrought. I want to bring hope and smiles du o myself and others.
I want a home that is repaired from the storm and a means to meet new people and feel happiness…
Thank you for your lesson
I really appreciate your commitment, thanks a bunch
I looking for wealthy and I just decide to close my restaurant after I start “Million Dollar Business Secret “ for one module. I do agree everything you said, I want to be a wealthy man and try to do many business in same time then I almost broke up now, now I focus just only one business I most love and focus on it.
Thank you Harv…. that was very very clear! I find myself switching courts and I’m still on the wrong court….but… I get it
Part of me likes to keep playing the game, part of me doesn’t want to hand off what I’ve worked so hard to create to somebody else because they don’t take care of everything that needs to be taken care of so I’m having difficulty fine-tuning my vehicle so I can hand over the keys. But reading this did help me make the shift so thank you very very very much! Lou
Thank you so much for clarifying what you clarified
Build pipelines
Don’t. Be a bucket filler
Thanks Sir! Your gift of teaching is wonderful!! I’m new at following you; just really got serious about reading your book and following you. I can tell this is going to be good. I want a wealth building organization so I can help others like I want, when I want to. I have to start all over by starting a business, being there at first, then quickly duplicating myself and getting out. I have some awesome ideas, some great products to even market. Now as you can guess I have to earn a living just to pay the bills and keep a roof over my family and I. So for starters, I’ve got to secure some financing so I can balance things out and get started. Pray for me that I replace the fear of getting started, with some faith, taking that initial leap and getting the money I need . I used to have business that produced income while I slept. Now I’ve got t get it back. Any thoughts and help you can offer, my ears are open. Thank you
Agree, I have attended Millionair Mind Intensive in India and applied many of those principles. Although, my income level had dropped 7-10 times before the course. I started attracting wealth and invested in fixed deposited.
Unlike before, I am now self employed and do what I really Love. Which is Healing and Coaching.
I was focused on Financial Freedom since MMI, with this article I am going to change it to wealth generation
After I have finished university I could find decent work. I couldn’t so I moved from Poland to UK. After 13years in UK I’m still financially broke . Harv is my last hope for financial freedom. Since I started his courses I made bigger progress in 4 months then in last few years, I have left job started working as a self employed and I have stuck with no time for my self , but that article help me realise I’m working for the worst boss , 24h a day ?
Thank you very much for this article.
Thank you so much for your wisdom. I love all your articles, and seminars. I am reading your book ”Secrets of the Millionaire Mind.” I love it, and all your articles as well. I have been an employee for 20 years. I have been working on my own business, on my free time, for around 2 years. I am running the freakin show by myself at the moment but I am looking forward to hand it off in the future. For right now, I have to put massive work in it. I am very thankful for all your information and advise. Thank you for sharing all your wisdom T. Harv. Many Blessings!!
Tks one more really I want to be wealthy, you just give me the way must be.
Regards
EZua from Angola
Thanks for this great article. I have learnt clarify my financial goals.
Very encouraging and best piece. Want to be financially free but still struggling.
Wow this is great inspiration…indeed,I am a ex banker who set foot into financial consultancy and over 5 years,my business has limped but now opening me to doors of success due to the long experience I have gained over time.
I feel honoured to read such articles that propel us to greater heights.
Thanks
Andrew
Wow….. I thought concentrating on coaching was my ticket to wealth but I see now it is my sideline ventures that will actually bring in the wealth. I still will do my coaching, but I know now, I will have to put a little more effort into my sidelines to really get where I want to be.
Thank you for opening my eyes.
Thanks for this.
Please clear that stockmarket trader can get rrich
This article is mind blowing.
T Harv Eker and his family are the best gift that God has given to me so far apart from the gift of life. I have been in search of a mentor or coach that can help me overcome life challenges, teach and help me achieve my goals which are to create massive wealth, Happiness, Health, Love, Total Prosperity, High level of financial success , the good life and to give back, by helping others achieve same.
Am resident in Nigeria where help is difficult to come by. Family, friends and banks are not willing to support financially. It’s difficult to get venture capital here that’s why development and progress is slow here.
Nevertheless, The lessons I have learn’t so far from T Harv Eker that am working on making a part of my life, I believe are working. The other day, I dream’t of meeting and getting lessons from Donald trump on how to be a billionaire. My friends say I have high fever hahahahaha…..
My strategy for creating wealth is to create a lot of online businesses that are in vogue that already has an existing huge market, all i will be doing is to provide solution to the problems that exist in them.
The first one am trying to achieve is to create an online market place for every type of product that is legal which is currently non existent here. there are a few available but they are offering a few products.I want to duplicate Alibaba here in Nigeria. I will have no inventory and it will be on both subscription and commission basis.
Am making sure there are no limits to my income.
Wish me luck that I get the funding and do correctly all I learn from T Harv Eker, for if I do it is certain that I will create extreme massive wealth.
Warm Regards
Thank you for the information.
I’m a professional counselor and coach. Doing my 9 – 5 job because I still have a lot of debts to pay. Would love to do Coaching fulltime to have financial freedom, but can’t quit my job because it gives me money to pay my debts. Please advise what I can do to step into the financial freedom/wealth court doing what I love most….Coaching and Public Speaking.
This is eye opening, I’m currently doing lots of things but not picking out one specific one….But what I want is to provide a service to people….people seem very busy in Africa working as such I want to help them do those things can not do…..bring Insurance for them, do shopping for them , take their children to school, to mention but a few.Please advise me
It’s really an eye opener and I want to say thank you for this piece of information. My brother runs a restaurant and he’s depressed because of financial constraints. Looking in from outside you’d believe he’s a happy man. Now I know how to create wealth and coach my brother too.
It’s really an eye opener and I want to say thank you for this piece of information. My brother runs a restaurant and he’s depressed because of financial constraints. Looking in from outside you’d believe he’s a happy man. Now I know how to create wealth and coach my brother too. I am a songwriter. Thing is, how to get a manager to pitch my songs.
I am an owner of private clinic…
My question is how can I run my business without me??
T Harv
Personally day to day my mind is changing and this is the result of the daily knowledge you are sharing with me..
God bless you I see my best future a head..
Very powerful!! This is sweet!
thank you for everything.
you are the Best
– i want a start with my own project –
I want financial freedom. I started a shoe shoe design company, developed shoe design and construction skills by putting all I had to it its a handcraft business. I have been developing standards against which I’ll be validating work. Workers will follow the standards and ‘step by step’ how to dos. My goal is to exit the business in 2022 whereby I’ll be earning passive income.
Thank you Mr Harv Eker for your positive attitude toward and exceptionally outstanding understanding of Wealth Creation. I benefit a lot reading your posts and mails. I agree to the letter whatever you say.
I, too, am striving for toward the goal of financial freedom which is yet to be realised.
Methinks your guiding principles will certainly enrich my life and I would soon be able to realise my goal.
Best regards.
Vinod