Becoming a Billionaire: Expert Loral Langemeier Shares Tips on Entrepreneurship and Wealth Creation
In this podcast episode, host Barry Shore invites Loral Langemeier to share her expertise on entrepreneurship and wealth creation. Throughout their conversation, they cover various topics related to becoming a billionaire, such as the importance of mindset, providing value to customers, and taking practical steps towards building a successful business. Langemeier stresses the need for individuals to educate themselves about money and start by selling simple products or services to generate income. She also highlights the significance of focusing on revenue-generating activities and building a strong team to support the business. Drawing from her experience in teaching people how to become successful entrepreneurs, Langemeier emphasizes the importance of discipline, perseverance, and action in achieving success. By the end of the episode, listeners will have gained valuable insights into the mindset and practical steps required to build wealth and become a successful entrepreneur.
[08.01] Becoming a Billionaire
- If you need more money, someone else has it.
- You need to provide a product and service and serve them.
- To me, mindset is that thing you sit around and think about.
- Most people know nothing about money.
- If somebody is out there and says, “I don’t know anything but I love Barry’s work,” then sell his JOY programs.
- Sell something that can give you money.
- To become a millionaire, you have to do more than make money.
- Mortgage company that wanted to hire me.
- They said, “Could you send a resume?”
- I know what a management deck is.
- I teach people how to become entrepreneurs.
- How do you make your first $100,000 in a year?
- Being an entrepreneur isn’t about being enslaved to a business
- Solopreneurs shouldn’t even begin.
- If you own a company as an entrepreneur, you’re going to have all these things that the company is going to have to do, not you.
- At a minimum, you have six departments.
- When my son was eighteen, he got an LLC for his birthday.
- Sell the simplest, easiest thing that you could just sell right now
[22.07] Action Steps
- I started our show talking about what it takes to run a company
- You got to be groomed to be an amazing entrepreneur.
- If I have to train you to be an entrepreneur, then let’s sell something simple.
- Do the easy stuff to make the first money.
- Once you get to be an entrepreneur, we’ll do the more sophisticated things.
- Most people don’t have the endurance.
[34.45] Make Money
- Do something to make some money.
- I call step number two is abandon your funnel.
- House cleaning is a billion-dollar industry
- Number three, I need you every day to work on your revenue muscles.
- Stop solving problems that have not happened yet.
- I teach people how to make money in a few hours
- The only way you won’t make money is if you have been laying down sleeping.
- The only reason you’re paid less in a job than men is you don’t ask.
[50.01] Final Thoughts
- I’m going to stay in this conversation to change the conversation with money.
- I think that people are in significant pain and it’s not because they want to.
- It’s because they are not educated.
- You can make money on your own. Being incorporated is how you live.
Loral Langemeier is a money expert, sought-after speaker, entrepreneurial thought leader, and Five Time New York Times best-selling author who is on a relentless mission to change the conversation about money and empower people around the world to become millionaires.