One of the reasons people want to become successful is because they want a garage full of luxury cars, living in a jaw-dropping mansion, sitting under California sun while being able to share their success with their friends on social media. And this is what Tai Lopez, someone whose story begins with him not having more than a few dollars to his name, living from his friend’s couch all the way up to making YouTube videos showing his garage with luxury cars in his California mansion, talking about success and also sits above a Lamborghini.
- Principle # 1. The More You Learn, the More You Will Earn
- Principle # 2. Work Smarter
- Principle # 3. Get a Mentor
- Principle # 4. Grab the Opportunity
- Principle # 5. Change Your Mind to Change Your Life
- Principle # 6. Get to Know Yourself
- Principle # 7. Take More Risks When You Are Young
- Principle # 8. Be Lifestyle-focused
- Principle # 9. Keep on Improving
- Principle # 10. Build Your Brand
Tai Lopez is an investor, a partner, and also an advisor to over 20 multi-million dollar businesses. Tai has created his own community through his book club and podcasts, which he shares advice on how to achieve wealth, health, love and also happiness. In fact, his book club has grown to over 1.4 million people across 40 countries, which is considered one of the largest book clubs in the world. He is also the famous founder of “Book-Of-The-Day” email newsletter.
In this article, you are going to discover the 10 success principles that Tai Lopez harness to grow his business, how he builds success, going from rags to riches owning luxury sports cars, and how he transformed his life from the ground up.
Principle # 1. The More You Learn, the More You Will Earn
The first success principle is also what Tai is famous for. Warren Buffett once quoted, “The more you learn, the more you will earn.” And Tai totally buys into this concept. He commits to reading a book a day. Yes, one book per day. Tai has read thousands of books since he adopted this habit.
When Tai was young, he was obsessed with the meaning of having a “good life”, and so he wrote to his grandfather, which was a scientist, to ask for his answer and advice. Tai’s grandfather told him that there was no “secret formula” to success and stated that he will never find the answer from just one person. After that, his grandfather sent him a set of eleven books and suggested Tai read them. And this was how Tai’s journey begun.
Tai developed the habit of reading and continued to seek knowledge even up to this day. This is also the reason he created his book club to share his advice and wisdom with the rest of the world.
According to Tai Lopez, one of the most important keys to success is learning. Just like what Zig Ziglar said, “If you are not willing to learn, no one can help you. If you are determined to learn, no one can stop you.” You can learn anything you want in this world. If you want to be a millionaire investor, you can learn how to do it. If you want to lose weight, you can learn how to do it too. Whatever you want to achieve, there is an answer out there, but you must be willing to learn the strategy and then execute your plans.
This is also how Tai made himself famous on the internet. Although his lavish lifestyle is one of the major contributing factors that shot him to stardom, what makes people followed him all over the internet is his desire to educate his audiences on the importance of establishing good habits, such as learning from valuable resources, and most of all, reading. So if you want to be like Tai Lopez, start reading today.
Principle # 2. Work Smarter
In today’s world, where technology is rapidly changing and the information is everywhere, it is not about working hard, but working smart. You must learn how to work smart to double your results with less effort. Learn to leverage other people’s effort, time, and energy. Also, use software to create automation and build a system that can scale at a large quantity to reach the whole world.
Tai Lopez believes that if you want to win big in life, you must work smarter. While it is important to work hard and put in the effort, nothing beats working smart. When you study the numbers of successful people in the world today, you will discover that it was becoming easier to amass wealth and to build a successful business at an early age. In fact, age is not a factor that determines your success anymore. It is about how smart you can be in leveraging what is around you and using the resources that are available to you.
Anyone can become successful these days. If you look at how ordinary people can build profitable blogs and create viral videos and make millions on YouTube, you should understand that you can do the same, but you need to be creative and work smart. Of course, hard work still counts, but if you can combine hard work and smart work together, you can achieve almost anything you can dream about.
Principle # 3. Get a Mentor
Before Tai Lopez started his own business, he was a dropout from the college and was so broke that he has to sleep on the couch. After that, he finally managed to convince five multi-millionaire entrepreneurs into mentoring him. Tai then went on to become a certified financial planner and worked in the finance industry before becoming a founder, advisor, investor, and also a mentor to over 20 successful businesses.
It is extremely important to get yourself a mentor or a coach if you want to be successful in business and at life. Tai Lopez started with 5 mentors, what about you? Mentors and coaches are important because they are the ones that have been there and thus, they can share and teach you valuable lessons how to get there as well.
Regardless of what you want to achieve, be it a professional athlete, a celebrity, an artist, a successful businessman, an investor, etc., get a mentor to guide you. This way, you can shortcut your journey and learn the first-hand information from people who have done it.
Imagine if you are climbing the mountain. You can try hard to discover your own path to get to the summit, but if you choose to do so, be prepared to go through challenges and detours. It is dangerous and you can fall to death. Or, you can choose to follow the path laid down by the previous climbers who have successfully conquered the summit. Hence, get a mentor or a coach to guide you.
Principle # 4. Grab the Opportunity
Opportunities are everywhere and you must train yourself to see them. The problem with most people is that they are not trained to discover opportunities that are hidden around them. Do you know that every problem and difficulty that you face can be an opportunity in disguise?
Tai Lopez understands that people want to be successful but they have no idea how to do it. Plus, a lot of people want to learn how they can build a successful business and live a rich life like he does. So Tai grabs this opportunity and created a series of ‘mentor shortcuts’ he calls, “The 67 Steps”. These 67 steps are the summary and wisdom that he has learned from his mentors and he compiled them to share with his audiences.
If you want to build a successful business, you must learn to grab the opportunity when it comes too. When you are dissatisfied with a product or a service, it shows that there is an opportunity to build something better for the market. When you hear someone complains about something, you know that the problem can be transformed into an opportunity to you.
Principle # 5. Change Your Mind to Change Your Life
Everything starts with changing your mind. If you want to have a better life, change to have a better mind and you will have a better life. This is exactly what has happened to Tai. He reads hundreds of books to learn the knowledge and wisdom in order to change the way he thinks. Tai knows that as long as his mindset changes, his life will change.
Just like the saying, “Sow a thought, reap an action; sow an action, reap a habit; sow a habit, reap a character; sow a character, reap a destiny.” It all started with your mind.
Oprah Winfrey, one of the richest women in the world and the media mogul, once said that “Books allowed me to see a world beyond the front porch of my grandmother’s shotgun house,” and continues saying, “the power to see possibilities beyond what was allowed at the time.” As you can see, books can the way you think and the ideas contained in the book can open your perspective for bigger and better things.
Your mind is the most powerful tool that your creator has given to you. You must learn how to make full use of it. It is your mindset and your thinking that will shape your life. When you think differently, you will make decisions and act differently, and then your life will change accordingly.
Principle # 6. Get to Know Yourself
Another important success principle shares by Tai Lopez is that you must know yourself. Many people thought that owning a Lamborghini like Tai does is materialistic, but to him, it is not. Tai says, “I remember sleeping on a couch with $47 in my bank account in a mobile home in North Carolina and now, where I am, people think the Lamborghini I drive is about materialism. I am more materialistic about my huge collection of books. Lamborghini’s is an RRD Investment, Rust, Rot, and Depreciate, but I keep that Lamborghini in my garage because it’s a reminder of the reward of #1, ‘Knowing Yourself’.”
It is not enough to say that you want to be an entrepreneur or you want to build a successful business, knowing yourself requires you to understand your strengths and your weaknesses. When you know where you can be great at and where your weaknesses are, you can then shine in the area you can do best, and outsource the area where you find it hard to perform. And this is one of the requirements for success.
Here is a great quote from Lao Tzu about understanding and knowing yourself. He wrote, “Knowing others is intelligence; knowing yourself is true wisdom. Mastering others is strength; mastering yourself is true power.”
Principle # 7. Take More Risks When You Are Young
Tai Lopez understands that if he wants to build a successful business, he must make the decision as young as possible. This is because the older he gets, the more he needs to commit to. For example, if you are married and you have children to feed, it is difficult to take risks that involve your family. So take the risks when you are young.
Tai was involved in the business world at the age of six when he began selling tomatoes for his mother. He explains his experience by saying that his mother had the cherry tomatoes she would sell, but the problem was that nobody really wanted to buy the tomatoes. And thus, Tai took it upon himself to sell lemonade with sugar instead. He says, “In the time I had sold one bag of tomatoes for 25 cents, I was able to sell ten times more with my lemonade stand.”
Therefore, try to start as young as possible. This is not to say that you cannot be successful or take risks if you are old. It is just that you will have a bigger advantage when you start early and have less commitment to life.
Principle # 8. Be Lifestyle-focused
Part of achieving outstanding success, Tai says, is about figuring out the lifestyle you want to live and then working backward. He suggests his audience when they know what they want, they can reverse-engineer their goals and work to get there.
Here is what Tai tells his audience, “I enjoy meeting new people, interesting people, and smart people. I like reading. I wanted a life with a bit of adventure. So I thought hard about what I could do that would allow me to do all of those things. I asked myself what my business would have to look like in order to accomplish those personally satisfying goals. And the personal brand you see today reflects exactly that.”
Therefore, find out what you want to accomplish and adopt the lifestyle-focused mindset. When you know the kind of lifestyle you desire to have, you can then be systemized everything, including your career and your business around it.
Furthermore, when you think about your desired lifestyle, it will inspire you to achieve more. You will be more passionate and look forward to doing the work. For instance, Tai loves to travel and whatever he ended up doing involved traveling. Find out what you want, especially the lifestyle you want to live by. And then you can create your life according to your desired lifestyle and live with fulfillment and satisfaction.
Principle # 9. Keep on Improving
When people see Tai Lopez on YouTube, especially his most virally-shared video calls “Here In My Garage”, people do not know that the video was recorded multiple times with different versions.
Tai says that everything you do, especially the things that become successful, have some element of luck and skill attached to them. With that video he shared, he has no idea how it will perform and so he created a few versions, split tested them, and then one of them became viral.
It is the same in every area of your life. If you want to improve and get better, you must test, optimize and then repeat the process. Tai also says that entrepreneurship is about always doing and improving. You have to try things out in order to find out if they are going to work or not. Tai also says, “Once is luck, and twice is a skill. I’ve done it more than once at this point, so now it’s a skill.”
Principle # 10. Build Your Brand
Tai Lopez has a personal brand that is recognized by millions of people around the world. He says that he built a personal brand around who he is instead of who he wants people to see. And this is where most people get it wrong. Tai says that entrepreneurship and building successful businesses require authenticity; otherwise, people will feel it and reject to get on board.
This same success principle can also be shown by famous Hollywood actor and superstar wrestler, Dwayne “The Rock” Johnson. Johnson says that he became who he is today because he is willing to be himself and face the audiences. Rather than trying to copy or act like someone else, he chose to be himself, and he dedicates his success to a lot of his spirit of being himself.
If you are into business, branding is extremely important. Look at big and successful brands like Coca-Cola, Nike, and Apple. These brands represent something in the people’s mind. When people think about Coca-Cola, they will imagine drinking it and have the sensation feeling of curing their thirst. When people think about Apple, they will see a beautifully designed advanced device that makes them look cool. Branding is what separates your business and your competitor. Thus, learn to grow and build your brand like Tai Lopez did.