10 Simple Laws That Will Make You Rich

About this video

Martell lays out 10 laws of making money, framed as what took him from a broke 23-year-old to a multi-millionaire. Law 1, sell before you build: validate demand first, like crowdfunding on Kickstarter and Indiegogo; he says a company he is involved in pre-sold $20 million of physical hardware before shipping, and that Tesla pre-sold the Roadster with a $100,000 deposit. Law 2, make someone else rich: if you have no product, sell someone else’s and take a percentage — wholesaling, affiliate and network marketing — noting his top salesperson cold-emailed him offering to work for commission only and, he says, now makes over seven figures a year in commissions; he advises salespeople to join fast-growing Inc 500 software companies that already have product-market fit. Law 3, sell value, not time: progress from employee (time for money) to entrepreneur (money for time/leverage) to investor (money for money). Law 4, find rich customers: raise prices regularly — he suggests changing some aspect of pricing every six months — because higher-paying customers are easier to work with and refer more. Law 5, find bigger rooms: he moved to San Francisco at 28 to be around better people, hosts founders dinners and a Tuesday founders hike in Kelowna, British Columbia, and recommends a ‘friendventory’ audit. Law 6, become more valuable: invest in yourself first — with an extra $500, buy knowledge and experiences — and study books rather than merely reading them. Law 7, model then modify: copy the container, not the content, phone experts before starting, and use ChatGPT for a first draft. Law 8, default to action: start before you are ready, take small quick bets before loading the cannon, and shrink timelines from 30 days to 3. Law 9, stay focused: follow one course until successful, avoid context-switching, and prove priorities through your calendar and bank account, using a 5-to-9 strategy for a side hustle. Law 10, the law of 300%: 100% clarity plus 100% belief held 100% of the time, illustrated by his skateboarding story of landing a backside heel flip down the ‘big five’ stairs after about 100 failed attempts once he believed he could do it.

Key takeaways

• Sell before you build: pre-sell to prove customers will pay before spending time building, because people who do not pay do not pay attention
• With no product of your own, make someone else rich: sell an existing proven product for a percentage, ideally for a fast-growing company with product-market fit
• Move up the trading ladder from time for money, to money for time through hiring leverage, to money for money as an investor — and charge for value and experience, not hours
• Find rich customers and bigger rooms: raise some aspect of pricing every six months, and get around people growing faster than you, even if it means moving cities
• Model then modify, default to action, and stay focused on one course: copy a winner’s container, take small quick bets to validate, and apply the law of 300% — 100% clarity, 100% belief, 100% of the time

Episode details: published January 23, 2025 · 22:29 long. Summary written by Self Growth Videos from the episode itself. Business results and any income figures mentioned are Dan Martell’s own claims, shared for education — they are not typical or guaranteed.

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