This is not an interview that I did, but I really like it and have listened to it many times. Ignore the part at the beginning if you don’t live in Houston, but listen all the way through. It is absolutely outstanding.

Some of my favorite parts (paraphrased):

Stop trying to reinvent the wheel. Go out and find some one who is already getting the results you want, and model it.

On finding a mentor:

When looking for a mentor you have to ask yourself some tough questions about that person. Do they have what I want out of life? (Wealth, time with family, etc). Many people are unqualified to be your mentor, yet they give us advice.

On retiring broke:

9 out of 10 people in the United States from 1970 through 2000 retired at or below the poverty level. You have to ask yourself why the vast majority of the nation would follow a path of building wealth that we know is ineffective.

Who we should take advice from:

Guess what the people who taught us how to build wealth (friends, family, professors) have never done? Built wealth. Do not talk to anyone about how to build wealth who hasn’t built their own wealth.

Employee mindset vs. millionaire mindset:

70% of millionaires in the United States are self-employed. Most of the remaining 30% are unemployed and less than 1% of all millionaires are actors, musicians, athletes, or entertainment business related.

You’ll never get rich helping just a few people each day:

Ok I buy your concept that you have to help other people to make money. But I’m already helping other people in my job. Why am I not wealthy? If you want to make a lot of money you have to help a lot of people. To do that you must be leveraged with other people’s time, knowledge, and money.

On beliefs:

Does a belief have to be true to be debilitating? No.

Who gave us our beliefs about money:

I would have to admit that in college I had a professor come to class, complain about his car note, house note, and financial condition, and then go on to teach 150 students college prep economics. I became painfully aware that all of the people who’d given me my beliefs about money were unqualified to give them.

Click play below to listen to the interview

 

 Interview With A Self Made Millionaire - Steve Davis: Play Now | Play in Popup | Download