E41: Building Wealth Beyond The Chair

Today’s episode is specifically about how to transcend traditional income limitations and build lasting wealth by focusing on three phases of wealth building. 1. Earned income 2. Growth assets 3. Passive income

Resources:
Create a free student account and start learning from The Millionaire Hairstylist: www.MillionaireHairstylistPodcast.com
This episode is a part 3 series. If you missed part 1 and 2 check them out here! Pt. 1 - E39: How to Become a Celebrity Hairstylist: https://www.podpage.com/the-millionai... and Pt. 2 - E40: The 3-Step Secret to Charging More: https://www.podpage.com/the-millionai...

E34: How I Invented a 9-Figure Beauty Product | Rea Ann Silva, Founder of Beautyblender: https://www.podpage.com/the-millionai...

E15: 12 Non-Obvious Business Lessons Managing 100+ People | NeCole Cumberlander, Salon and Beauty School Owner: https://www.podpage.com/the-millionai...

E3: Beyond the NYC Salon & Sephora Product Line, Building Wealth With Real-Estate | Sam Brocato, Sam Brocato Salon: https://www.podpage.com/the-millionai...

Show Notes:
[0:00] Introduction
[0:30] Today’s topic: How to Become a Millionaire Hairstylist PT. 3
[0:45] In case you missed Pt. 1 - E39: How to Become a Celebrity Hairstylist and Pt. 2 - E40: The 3-Step Secret to Charging More
[4:00] Limitations of the earned income stage in wealth building
[6:00] Phase one of wealth building
[8:10] Phase two of wealth building
[9:45] Four categories that meet criteria of growth assets
[11:30] Phase three of wealth building
[18:30] “Reframe: phase one you are working for money. Phase two you are working with money. Phase three is getting money to work you.”
[21:30] Benefits of investing in businesses
[27:30] Create a free student account and start learning from The Millionaire Hairstylist: www.MillionaireHairstylistPodcast.com
[32:00] Attributes of successful business owners
[33:40] Do not underestimate the power of luck
[35:00] Owner and CEO of Drunk Elephant
[37:00] E34: How I Invented a 9-Figure Beauty Product | Rea Ann Silva, Founder of Beautyblender
[43:00] Recap and benefits of investing in real estate as a growth asset
[47:00] E15: 12 Non-Obvious Business Lessons Managing 100+ People | NeCole Cumberlander, Salon and Beauty School Owner; E3: Beyond the NYC Salon & Sephora Product Line, Building Wealth With Real-Estate | Sam Brocato, Sam Brocato Salon

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