An Essential KPI For Wealth Success
Welcome to the 117th edition of the Inkosi Wealth Podcast!
In this episode, I’ll share the five essential qualities my mentors must have to help you find the right mentor that fits you so you can avoid wasting time and money on the wrong one.
Mentors Can Change Everything
Criteria #1: They Have the Results
Criteria #2: They Must Have Been Through Multiple Boom and Bust Cycles
Criteria #3: They Have the Wisdom and Network to Keep Growing Even During Downturns
Criteria #4: They Have to Be Good People
Criteria #5: Criteria #5: They Need to Have Made Money as Investors, Not As Business Owners
Essential Qualities Recap
If you’re an investor or a business owner who wants to learn my own criteria for a mentor so you can find one that can help you accelerate your wealth creation much faster, then make sure to listen to this episode!
01:41 How Alex Hormozi Started in Business
05:38 Why Lifestyle Burn Rate Significantly Increase Over Time
06:45 Client Case Study
07:52 The Reason Why You’re Investing
10:00 Final Thoughts
In today’s episode, I’m going to talk about a specific metric that can have a massive influence on your financial success.
Many people know that I highly suggest that you don’t just focus on measuring net worth as a metric or key performance indicator of success.
Instead, I recommend that you also come up with a series of metrics that can help you understand how you track as an investor.
So today, what I want to focus on is what I call the “lifestyle burn rate.”
“Burn rate” comes from the corporate world, meaning how quickly you burn through cash and capital reserves.
In the context of lifestyle burn rate, I use this word to describe what percentage of your active annual income you’re spending.Read More
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