The BetterLife Podcast: Wealth | Real Estate Investing | Life

#29: Dan Martell

Sep 25, 2023

Dan Martell, Canadian entrepreneur, shares his journey from a troubled childhood and prison to becoming a self-taught programmer and millionaire. He discusses hiring a business coach before having a company, applying business principles to improve relationships, and the 'buy back your time' approach. He emphasizes the importance of mentorship, the transformative power of love, and the impact of names and labels on identity.

01:07:54

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Dan Martell

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Quick takeaways

The importance of mentors in transforming one's life and seeking guidance from experienced individuals.

Overcoming personal challenges through resilience, self-reflection, and the influence of positive role models.

Applying business principles to personal life through strategies like the Buyback Loop to optimize relationships, prioritize quality time, and achieve personal growth.

Deep dives

The Power of Mentorship

The podcast episode explores the importance of mentorship and how it can have a transformative impact on one's life. The speaker shares a personal story about receiving life-changing advice from a mentor and highlights the value of being around people who have achieved success before. The episode emphasizes the idea that mentors can condense decades of wisdom into a short period and encourages listeners to seek guidance from experienced individuals.

Tips for Better Communication in Relationships

01:01

The Power of Mentorship and Surrounding Yourself with Smart People

01:04

Introduction

1min

From Prison to Transformation

27min

Business, Charity Donation, and Real Estate Investing

3min

Becoming a Millionaire at 30

10min

The Transformative Power of Love

16min

The Power of Names and Labels

6min

Conclusion and Wrap-Up

3min

Dan Martell is a Canadian entrepreneur, investor, best-selling author of "Buy Back Your Time," and coach to over 1000+ SaaS founders.

In this episode, Dan shares how a chaotic childhood and bad decisions landed him in prison as a teenager; how a conversation with a guard and a single book changed the course of his life; and how he applies business principles to improve his health and well-being while deepening his relationships with his wife and sons.

He also speaks about:

- Being diagnosed with ADHD at a young age, getting involved with drugs and crime, and ending up in prison twice before the age of 17

- How a respected guard questioned why he was in prison and expressed that he doesn't belong there, which motivated him to make positive changes in his life

- His journey as a self-taught programmer and becoming a millionaire at 30

- Why he hired a business coach for $1500/month before he even had an idea for a company

- How to avoid building a business you come to hate

- Applying business planning and tracking methods to improving your relationship with your family

- How to get your kids to listen to you by becoming someone they want to emulate

- The importance of choosing words carefully when describing children

- The value of auditing your time and energy

- The ‘Buyback Loop’ for hiring people to buy back your time, rather than hiring them solely to grow your business

- Buying a jet (!) as the ultimate "buy back your time" move

Books mentioned in this episode:

Buy Back Your Time by Dan Martell

The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael E. Gerber

Love Is the Killer App: How to Win Business and Influence Friends by Tim Sanders

Think and Grow Rich by Napoleon Hill

Dan’s charitable cause:

The Boys and Girls Clubs of America, which has a vision of “assuring success is within reach of every young person who enters their doors, with all members on track to graduate from high school with a plan for the future, demonstrating good character and citizenship, and living a healthy lifestyle”.

BONUS:

Send Dan an Instagram DM with the keyword ‘EA’ and he will send you his assistant SOP document.

Connect with Dan on socials:

Https://www.instagram.com/danmartell

https://www.facebook.com/Danmartell

https://www.linkedin.com/in/dmartell