hi it's mark recently i've been seeing this question pop up on my instagram post if someone took everything away from me my business my investments all my money in the bank would i be able to start from scratch and become a multi-millionaire again well funnily enough that's the exact same question i asked richard branson when i was around his house having lunch well the short answer is the same as his yes i would be able to achieve it again but what i really think is i'd be able to achieve it around about half the time
or less but of course the interesting part is not if i think i could do it but it's how i could go about doing it so here are the three basic rules to this challenge one i have to do it from a starting date of 2020. who i go back to being 16 year old and three i keep all my business and invest in knowledge now the challenge will be to find the fastest way to move from employee to self-employed to business owner and finally investor by watching this video all the way through you'll have
access to an exact roadmap i would personally use to become a millionaire from scratch in the modern age if you listen and use the information i'm about to share with you you could be the next millionaire but the first step along the path is to smash that like button okay then so we've got to get ourselves into that age pod which is going to make me 36 years younger i like the sound of that just imagine a 16 year old me i've just left school with no qualifications i don't have any money but i do
have a dodgy hairstyle to top it all off the world has experienced a global pandemic causing unemployment to rise to near the levels of the great depression and the stock market has become so unpredictable things might not look great at the moment but in my opinion this new world offers opportunities more than you might first think especially if you know where to look so you can keep track of the challenge i'm going to put a counter down here it's going to track the time and my net worth for every stage in the video so let's
set it to zero and get started where's all my money gone my first move will be getting the highest paid job possible now if this is at minimum wage working from mcdonald's or walmart or anything like that that'll be fine the aim isn't to be comfortable that's actually the worst thing it can be when you get paid just enough to make you comfortable your salary becomes a drug and that makes you forget all your dreams the only purpose of this job is to establish an income stream without money it's very very hard to accomplish anything
instead of thinking of it as a drug i will be using it as fuel to propel me towards my goals my second move would be to establish a side hustle or a side job of some sort the pandemic has fast tracked the digital revolution online shopping is more popular than ever and the internet is an unbelievable tool for our new entrepreneurs online marketing would be the number one high income skill that i would want to learn the best way for me to do that and make some money on the side will be to set up
a drop shipping store drop shipping is when you take a product from a supplier market and advertise it online and then get the supplier to ship it directly to the customer for you allowing you to make a small profit without even physically touching the item on youtube drop shipping is advertised as this awesome way to make lots of money without doing any work you know what that's not really the reality running a profitable drop shipping store requires you to learn the basics of business how to run ads on social media how to build a website
how to write in a way that makes people want to buy graphic design in some cases video editing i'd approach lots of local businesses and shops and talk to them about the stock they've got sitting around that they can't sell almost every business has stock it wants to get rid of and normally this will be you know the end of a line product for example some it's gone a bit out of date and with all my online marketing knowledge i'd be in the perfect position to help them so you could say look i'll tell you
what i'll give you 50 of what i sell it for now if that's in cash any business owner is going to be very happy it's a win-win situation i'm a big fan of learning while you're earning so this is where i would take a real step back here and take a deep breath before taking on the hurdle so many people fall at and that's lifestyle inflation this is when people increase the amount that they're spending on their lifestyle as their income increases maybe to impress their friends or they see it as rewarding themselves they end
up living a lifestyle that's paycheck to paycheck even on a good income to avoid this i would create a budget and stick to it religiously i need to have enough money to do three extremely important things one i'll build myself an emergency fund this is a savings account with three to five months of living expenses to be used if something unexpected comes up and that'll help me stay out of debt two invest in a pension account every year without fail three open a vanguard account and start consistently investing in low-cost index funds like the s
p 500 i mean this is a collection of top 500 companies in the usa you can't go wrong by owning a part of all of them the money will grow with the usa economy which term has always increased and by starting at such a young age i would be able to take advantage of compound interest and if you're familiar with the snowball effect you already know that something can build upon itself my third move would be building a strong network of connections this means cutting off the people that are holding me back and making friends
with people that are going to push me forward an important part of this would be finding new mentors to help guide me their insights would be extremely valuable as they're able to see my situation from a different perspective i could bounce various ideas off them and hear their opinions now i'll do this by using social media to grow my personal brand and documenting my journey everyone is online now and i want to take advantage of that attention and publish as much content as possible this is the fastest way to expand your network and attract like-minded
people when people feel a personal connection towards you then it opens up many many doors even more than you could imagine my fourth move would happen the day i turned 18 it would be getting a credit card in my opinion this is one of the best things you can ever do as long as you use it correctly a credit card has so many benefits including protection on purchases points you can use for free travel cash back and most importantly building your credit score the younger i'm able to start building my credit score the better because
it means in the future that when i'm ready to invest in property and things like that i'll have better access to better loans but be warned credit cards are like fire they keep you warm but they can burn you depending on how you use them so only ever buy the things that you would be buying anyway like gas or groceries i would make sure to pay them off in full at the end of every month in order to avoid paying any interest or late fees move number five will be asking you to smash that thumbs
up button and ring that bell if you haven't already done it it really helps youtube show my videos to new people my fifth move is when things really start coming together i would use the money the skills the connections i had built during all of this startup time and then i'll make a scalable business once i'd identified a gap in the market most likely within an online or a software niche as soon as the business shows promising science i would go full throttle at it and grow it as fast as possible there is no point
in growing slowly as my competitors would be catching up to me and every day i wasn't selling to as many customers as possible i'd be effectively just losing money i would reinvest as much of the profit as possible back into my business the main aim would be setting it up in a way that's not reliant on me and my time i'd also want to make sure that there were multiple income streams within the business in case for any reason that one of them was cut off once my business was able to support itself and it
was making money on almost autopilot it would be time for my sixth move diversify and focus on my personal portfolio 50 of my portfolio would consist of real estate as rental properties can generate income all year round i'd make sure to take into account the school links income level of the area and also if it's an up and coming area the rental income is great and it will pay off your mortgage but the increase in the value of the property generally is fantastic if you buy right the wealthiest people nowadays collect property the way they
used to collect classic cars interest rates are low prices are falling and you don't have to tie up a lot of cash in the investment and with apps like airbnb i could also consider short-term renting 25 of my portfolio would be in low-cost index fund like the s p 500 as this will allow me to be growing my wealth with the stock market pension accounts would make up 10 i always think the word pension sounds like old age old and i think that's the reason why it puts a lot of young people off doing a
pension the truth is the word may be old but they're one of the best and most tax efficient long-term investments you're likely to ever make 12 percent will consist of investing my money into businesses seeking investment this would be you know a lot like dragon's den or shark tank in return for a percentage of their business i'd be offering my money mentoring and connections i would use two and a half percent of my portfolio to dabble in individual stocks this is money that i can afford to lose so i can have a bit of fun
with it maybe purchasing a bit of tesla a bit of apple who knows but you can just have a little plate and you never know where it's going to take you i'd reserve half a percent for the most risky investments such as crypto currencies now you've got to be careful here you've got to do an established brand like bitcoin although i wouldn't recommend this to anyone that doesn't already have a strong investment portfolio established and can afford to take the risk i'm opening myself up a little bit to the possibility of reward without worrying about
any losses if cryptocurrencies see another boom like the last 10 years then i want to make sure i get my fair share if you like this video then you're going to love this next one i'm going to leave it right here for you but don't click on it just yet if you like the video drop a like on it for me and subscribe to the channel and ring that old bell if you want to grow your wealth okay so you can click on it now i'll see you over there
