Millionaire Mindcast Don't Let Your Past Equal Your Future, and Unleash The Billionaire Within | John Malott
In this episode of the Millionaire Mindcast, we have John Malott who shares his story of not to let his past equal his future, his rock bottoms, redefining moments, the role of man in the house, what’s the foundation of good husband-wife relationships, bridging the leadership gap, and how to achieve a new level of success in mindset and business!
John Malott is a serial entrepreneur, world changer, collaboration expert, public speaker, side hustle expert, and Co-Founder and Chairman of Build Your Empire, an event & media company focused on educating & impacting the next generation of entrepreneurs. John has built people that build businesses and help people crush big things from home. He has earned over $1 billion in global sales and has been featured in Forbes, Entrepreneur, USA Today and more. Currently, he has created over 600 millionaires in the last 25 years and passion for leading, serving, and holding individuals accountable to achieve their greatness.
John’s life is a rollercoaster. At 17 years old, he had a heart attack from smoking cocaine. He was a high school dropout, arrested multiple times, and last jailed when he was 24 years old. His biggest curses turned out to be his biggest lessons. In jail, he had some realizations; it’s not the life he wanted to be. He made a decision that’s who he was, that’s not who he would be going forward. Promise that when things get done he would be that person again. After John got out of jail, things started to change. It’s a long process but things really start to happen for him.
During the process, somebody planted the seed to him that business was his way out of his circumstances. So he exposed himself to personal development and pursued business. But it was not an overnight success. John just earned $4,000 in his first year as a full time entrepreneur and $16,000 in the second year. People judged him but he never gives up. To cope with the challenges, John hired mentors to help develop himself and his business, where he learned so much about people, philosophy, and the art of giving.
Now, John is really good at identifying and creating passive residual income streams from home, how to cut out a lot of overhead expenses, and the frustrations that most entrepreneurs experience. He considers himself fortunate to have that experience especially during this pandemic.
On the other hand, John believes that mindset is the one that holds us back and not anything in this world. Life is about two major things: it’s about a mixture of challenge and opportunity. He is so sure that whatever hits, he just adjusts his mind and thinking.
John insists that this quarantine is the time to figure out what you want to become because it’s thinking, becoming, and then doing. Right now, we really have time to create new generations of world-class entrepreneurs and replace a lot of crappy ones.
Therefore, take that money and invest in yourself. Figure out what you want to do, what you want to become, and where you want to go. Figure out how to use that resource to get you in front of people. Find that you’re passionate about, and use that energy to build momentum. There are so many things we got to put in front first. But you should start focusing on who you are and becoming stronger, better, faster, and have those principles of success.
Some Questions I Ask:
- Take us back to some of the rock bottoms & moments in your life that were kind of those forks in the road, “It’s time to get it going and move in the right direction if I’m going to achieve the goals that I want to achieve”. (00:57)
- If you could pinpoint at that moment in jail, what was that ultimately had you chosen this fork versus that fork? (05:32)
- Get us up to the speed of from that day making that choice to where you’re at today, how things unfolded, and how big and exciting in high and low they’ve been along the way? (08:23)
- What would you say is the number one thing you see limiting the people from actually breaking through to a new level of success, and discipline? How would you like to categorize it? (11:53)
- How should people be spending their time right now if they want to get ahead? (15:42)
- If you were to pull one tool off your tool belt that has paid you the highest ROI over the course of your career, what would you say that skill set is? (19:41)
- When can someone call themselves a leader? (22:55)
- With the uncertain times right now, what message do you have for the person who is an aspiring entrepreneur or new entrepreneur that’s at home? (24:13)
- What do you think is the best investment for someone right now with little disposable income? (27:02)
- How has making your wife and children such a priority and the core foundation of your ecosystem served you in building the successful business in life that you have? (32:12)
- What do you think is the core thing that is the foundation of your guy’s relationship that makes it strong, successful, and moving in the right direction? (35:56)
- What is your definition of wealth and what was the one thing you feel attributed to unlocking it? (40:27)
In This Episode, You Will Learn:
- The Percentage of Growth (09:02)
- The Art of Giving philosophy (13:17)
- Two major things in life (16:25)
- How to be more productive especially during this quarantine (17:03)
- Leadership gap in the USA (20:23)
- Man as the foundation of the household (33:53)
Quotes:
- “My biggest curses turned out to be my biggest lessons.”
- “That’s who I was, that’s not who I would be going forward.”
- “The repetition is the mother of all success.”
- “Life is about two major things: it’s about challenge and opportunity.”
- “This is the time to figure out what you want to become because it’s thinking, becoming, and then doing.”
- “Start focusing on your health and wellness because if you’re not feeling healthy, you’re going to have a hard time getting wealthy.”
- “The richest place in the world is the graveyard.”
- “Inspired people do not need motivation.”
- “Wealth is freedom.”
Resources Mentioned:
How to Win Friends and Influence People book by Dale Carnegie
Paul J. Meyer and The Art of Giving book by John Edmund Haggai
I Inherited a Fortune book by Paul J. Meyer
The 21 Irrefutable Laws of Leadership book by John C. Maxwell
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