Last week I shared my net worth to the public and told everyone that I would like to become a Billionaire someday.
Note:
I know this isn’t likely to happen. I would need to 40x my net worth in the next 16 years. If it doesn’t happen I’ll be fine but I set it as a big ass personal goal because I think it might just be possible. And if it happens it would be interesting to look back and read my thoughts on it all.
The main question I got from the folks after I tweeted my goal:
Why? Why would anyone want to become a billionaire?
My answer:
#1. I’ve found a game that I’m good at and it is insanely fun to play.
There is nothing better than making real life bets on people and actions and watching the results play out in real time and positively impact people’s lives and businesses.
#2. Money increases the positive impact a person can have on the world. Period. The more money I have the more people I can positively impact.
#3. My ego. People still tell me I CAN’T play the game of business at the highest level while also being a good father, husband, healthy, etc.
I want to prove them wrong and I’m driven and excited to try to do that.
#4. I know I’d make 1,000+ millionaires along the way.
My employees, partners and investors would make a TON of money. Starting companies and hiring gives people opportunities to advance their career and change the trajectories of their families.
A billion is a lot of money. And I’d probably end up giving another Billy to my partners and those along for the ride with me.
My near term goal is simple:
Surround myself with as many killer operators as possible. I’m assembling a group of 10x folks who know how to build companies and can help me get rich while making a ton of money for themselves. I’ve found them already at each of my companies and I’m excited to keep discovering them.
#5: I think I CAN do it without being one dimensional.
Most billionaires are laser focused on money and everything else goes by the wayside.
My goal is to make this happen while working an average of 30 hours a week over the next 16 years.
Of course I’ll have weeks where I work more. And I’ll have weeks where I don’t work at all. After all entrepreneurship is a lot like a lion hunting gazelles.
Some of the time you’re up off the rock sprinting after a gazelle but 99% of the time you’re lounging around living on the gazelle you killed last week.
I plan to leverage my ability to delegate and my distribution to make it happen without being deep in the weeds.
So now lets talk about my life goals. How I want to live along the way:
I want to play the game of business at the highest level while also:
#1. Staying married and in a great relationship with my wife.
How?
Weekly 1-on-1 date nights. No pornography. Always treat her with respect and NEVER act arrogant or entitled to her service. We’ll also travel together to most conferences and events I go to from here on out.
We have a LOT of childcare help so we can spend more quality time with our 3 kids one-on-one and also travel together and spend time on each other.
I also ordered a jet with 2 partners to make that easier. Will share more on that when it arrives in October.
#2: Maintain an extremely close relationship with my kids and turn them into exceptional, humble humans.
How?
I’ll teach them to struggle with grace so they never feel entitled or turn into arrogant pricks. They’ll be held accountable for their mistakes and I won’t protect them from poor decisions.
I’ll let them practice making decisions when the stakes are low so they improve. I won’t make their decisions for them.
I’ll listen to them and care for them.
I’ll go on adventures with them and I’ll spend a TON of quality time.
#3. Maintaining hobbies to challenge myself in other areas.
I love to hunt, fish, play golf, camp, travel, cook, etc. I’ll continue to do a LOT of this. My goal is 75 rounds of golf this year and I’m on pace despite a 2 month brake with my tendon injury (link NSFW).
I’ll be in the mountains of Colorado with a bow for a week in September working to harvest my first Elk. Will keep you posted there too.
#4. I want to be fit enough to walk 18 holes at 75 years old.
Most people over 50 get wheeled around an airport. I want to be strong and fit enough to do whatever I want well into my 70s.
How?
Golf, stretching and rotational exercises (I use a Tonal). I think a low impact activity like Golf, a strong core and very good flexibility is the key to strength into old age.
A few bonus goals:
#6: Treat all of my customers, investors, employees and partners fairly along the way, no matter what.
It isn’t always easy. Relationships are messy. People are incompetent or mess up or let you down.
I will ALWAYS do the right thing and treat people fairly.
#6: Build a lot of great memories with people who matter.
This is what it is all about. I will focus on increasing things in this bucket for the rest of my life.
I won’t chase physical objects or shiny things. I’ll acquire things that lead to memories and bonding with people who matter.
#7. Remain true to myself despite increased scrutiny in the public eye.
Never be afraid to be myself and share my opinion because of what people might think of me.
I have massive respect for anyone building businesses and publicly sharing it with their real name.
The haters are rampant and they get personal.
Staying true to yourself and contrary points of view is hard and takes thick skin.
Plus your entire life is out in public if you fail…
The consequences are massive if you mess up, treat someone wrong, go broke, whatever. The anonymous accounts just log off and carry on.
If you’re in the public eye like me, it is all on the line.
#8: Struggle with grace and embrace the suck.
Anything worth doing in life has an equal amount of struggle and enjoyment.
All of these things on my list are incredibly hard.
Business. Parenting. Hobbies. Relationships. Health.
They all require sacrifice. Most people are selfish and have a low pain tolerance so they struggle to win at anything for this reason. I’ll embrace the suck and struggle with a smile.
After all, the brutally hard nature of life is what makes winning feel so good.
Onward and upward,
Nick
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