Grant Cardone is a businessman with a portfolio of assets worth over $4.7 billion, according to his website. He has launched several companies, profited from real estate and written books on the New York Times Best Seller list. When it comes to business, he’s clearly doing something right.
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YouTuber Evan Carmichael, who interviews and studies entrepreneurs, made a video called “Grant Cardone Motivation: 50 Rules to Get Your Money Right.” The video breaks down 50 rules Cardone has prescribed over the years on his own channel and in interviews with other entrepreneurs to improve finances.
Here’s the complete list.
Also see Cardone’s brutally honest money tips to follow this year.
Put Your Money to Work
Find ways to invest money that will help grow your net worth.
Also See: Warren Buffett’s Top 4 Tips for Getting Richer
Have Multiple Products to Offer
Getting more customers means not relying on one selling point.
Cardone: “Nobody can build a business or any kind of success on one product.”
Never Quit on Your Financial Freedom
Don’t be discouraged by how long the journey is. Keep your eye on the prize of being financially independent.
Be the Most Dependable Person
Be someone that others can rely on to make things happen.
Cardone: “Do whatever you have to do to make sure you don’t ruin your name.”
Start Taking Risks
Starting a business might require taking on more financial risk than you’re comfortable with, but don’t be afraid. It can lead to great rewards.
Cardone: “Get your money out of the bank and get it back into the marketplace.”
Stop Making Excuses
There are always reasons why you can’t do something. The key is looking past those to achieve your goals.
Cardone: “If you come from nothing, that should not be a reason you stay with nothing.”
Don’t Waste Your Money
Don’t make purchases you’re going to regret later.
Set Big Enough Goals for Yourself
Don’t settle for what’s doable; strive for what’s just beyond doable.
Man Up and Do It Big
If you’re going to excel at something, make sure you’re doing it the best way you can.
Think in Terms of 10x
“You have to think about expansion,” Cardone said in the video. Always know how you’re going to expand on your success.
Invest in Yourself First
Make yourself the best version you can be. Whether that’s through upgrading your education or your wardrobe, it’s worth it if it helps you succeed.
Look For Opportunities
Whatever job you have, look for opportunities to make connections and make your impact bigger.
You Need a ‘Get Rich’ Plan
Make goals that allow you to always be increasing your income.
Build Up a Team
Bringing on more people to your business venture helps you reach your goals faster.
Give Back
Find ways to help people less fortunate.
Try Flipping
If you have the initial investment money, flipping houses is a great way to turn a profit.
Go Big or Go Bigger
“Get rid of this ‘go home’ option,” Cardone said in reference to the phrase “Go big or go home.”
Invest Your Money
Investing money can make a lot more money for you than just saving it.
Be Ready for the Long Game
Even with all the right strategies, amassing wealth can take a very long time.
Have Fun
Take vacations to celebrate your success.
Study Success
Instead of studying your peers, study the most successful people in your field.
Help Others
“I am most happy when I’m helping someone else,” Cardone said.
Use Negativity as Fuel
Don’t let rejection get you down. Go even harder in search of success.
Be Hard on Yourself
Always look for ways to be better.
Become the Person You Should Be
If you don’t like who you are, change to be the person you want to be.
Stack Up Some Experience
Look for ways you can add to your resume.
Be Fair to Yourself
Don’t short yourself just because you don’t want to hurt somebody else.
Have a Dream
“Don’t quit on the dream before you have the dream,” Cardone said.
Be Prepared
Do your research.
Be the Best Known
Always strive to be the best in your field.
Leave the Nest
Deviate from what’s comfortable.
Set Ethical Targets
Don’t have a goal that’s going to harm people.
Use Equity To Produce Cash Flow
“You take equity out of a house or a car, and you put it into a business that produces cash flow and you create personal financial freedom for yourself,” Cardone said.
Make Success Your Drug
Get obsessed with doing well.
Use Debt To Grow
Cardone advised to use debt to expand your business.
Focus on the Cash Flow
Instead of the old adage “cash is king,” Cardone prefers, “Cash flow is king.”
Be Aggressive
Fight for what you want to accomplish.
Don’t Aim To Break Even
Making back your money isn’t enough; aim to profit.
Commit to Getting Known
Do whatever you can to build your brand.
Don’t Waste Money
Don’t spend more than you can afford.
Put Yourself in an Uncomfortable Environment
You never know what you can learn.
Practice Being Hard
Be disciplined in your routine.
Build the Muscle of Courage
Do what’s right even when it’s hard.
Learn How To Cold Call
It might seem awkward, but it’s key to creating new leads.
Respect Money
“I respect $100, so if you give me $100, you know I respect that,” Cardone said.
#Believe
Believe that you’re capable of greatness.
Be Great at One Thing
Don’t be mediocre at several things; master one.
Think Big
Don’t limit yourself on what you can accomplish.
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This article originally appeared on GOBankingRates.com: 48 Rules From Grant Cardone To Get Your Finances in Shape
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