Tony Robbins’ Advice For Young Entrepreneurs – Forge Financial Freedom
Tony Robbins is one of the most successful people in the world and is at the top of his field when it comes to motivational speaking.
Year after year he sells out stadiums to people who have come to hear his advice on how to change their lives, and there are tons of success stories from his clients on how they’ve improved everything in their life for the better.
Tony Robbins has a net worth of $500 million dollars and was asked recently what kind of success advice he would give to young entrepreneurs…
The first piece of advice was to “ think in terms of decades,” because you can overestimate what you can do in a year but you can also underestimate what you can accomplish in a decade.
This advice really resonates with me because when you first start out your journey in business, you think you really can do better that every other business person out there and make loads of money in a short amount of time.
Sadly, this is almost never the case, in order to do this you’d need an absurdly high amount of willpower so you actually put the hours in, a lot of business knowledge, and the patience of a monk.
Most people starting out don’t have these things and develop them over time. But when you commit and stick to something, the time flies by and you don’t even realize how quickly success accelerates once you’ve been in business for awhile.
Tony says in his book Money: Master The Game, “For me, money was always out of reach as a child. It was always a source of stress because there was never enough of it.”
If you think you are too broke to start investing young, think again, because it is actually the perfect time for you to start your investment portfolio.
Why? Because money compounds with time, that means that if you start investing now, your money starts to make more money, which then makes MORE MONEY and so on.
You want to start this process as early as possible, that way you are very financially comfortable while you are still in your prime.
Robbins says that the rich are rich because they know one thing: don’t lose money.
Hollywood and a lot of gurus out there will try to convince you that in order to make it in life, you’ll need to risk it all.
This could not be further from the truth, if you want to success and climb the mountain of financial freedom; you need to be making each step with sure footing. Nobody ever climbed a mountain doing backflips and somersaults the whole way.
So the best use of your money is first reducing risk, by having a large savings fund in case an emergency happens.
You could lose your job, or incur a big medical bill or home repair bill.
Save enough that you could weather such a blow without altering your lifestyle.
Then start building an investment portfolio.
This is the safest way to start growing your wealth over time.
Now you don’t need to have Warren Buffett’s phone number or be in Bill Gates’ exclusive circle of friends to have a mentor.
Mentorship can come in the form of books, videos, or programs.
When you think of these things, they are usually made by a very successful person who is documenting everything they believe is important for success.
Reading a book or watching a video is like downloading knowledge directly into your brain.
Take notes and read things that relate to your immediate situation, don’t be afraid to even use google to learn things you don’t know.
Tony Robbins’ advice is simple, think ahead, build knowledge on what you want to accomplish, and don’t risk everything you own (this relates to long term thinking).
It’s common sense, but like Warren Buffett’s investing partner, Charlie Munger says “common sense isn’t so common.”