5 Habits To Become a Millionaire in Your 20’s

Summary

• Becoming a millionaire by my mid-20s taught me the importance of building successful habits early on.
• Waking up early, like before 6 a.m., allows you to create more time in your day; it's not about the exact time, but having uninterrupted focus time.
• The practice of walk or workout breaks, which I call the "split shift," can sustain your energy throughout a long work day. Alternate between physical and mental energy to stay refreshed.
• At age 23, I realized splitting my day with exercise helped increase my productivity, especially when I founded Gym Launch.
• Encourage others to adopt similar strategies for energy management, such as walking meetings, to enhance overall team productivity.
• Pruning your circle is crucial; assess how people affect you in various areas of your life. Continuously adjust your social circle as your vision for your life grows.
• Learning from others' mistakes is a shortcut to success. Adopting the beliefs, lessons, and turning points of those more successful can accelerate your progress.
• A mentor emphasized the importance of people in business; embracing this led to my success in effectively managing and prioritizing people within my company.
• Don't take failure personally. View it as a chance to try something new immediately, rather than dwelling on past mistakes that hinder progress.
• Quickly moving on from failures and trying new strategies without focusing on sunk costs enabled me to scale operations, like transitioning from in-person gym launches to licensing products.

Video

How To Take Action

I would suggest implementing a morning routine that starts early. You don't have to wake up at 4 a.m., but getting up before 6 can give you extra focus time. Use these quiet hours to work on important tasks without distractions.

A good way to keep your energy up is the "split shift." When you feel tired, take a walk or do a quick workout. This helps switch between using your physical and mental energy, and it keeps you fresh for the whole day.

You should assess your friendships. Think about if your friends help you get better in areas like money, health, and happiness. If they don't, it might be time to make new friends who share your goals and can help you grow.

Learn from what other people do wrong so you can do better yourself. Find someone who's done what you want to do and copy their good habits and lessons. This can save you time and help you move faster towards your goals.

Finally, don't get stuck on failures. If something doesn't work out, don't waste time feeling bad. Try a new way to solve the problem right away. This quick thinking can help you find better ways to do things and grow your business faster.

Quotes by Leila Hormozi

"Getting up before 6 a.m is a habit that a lot of successful people have"

– Leila Hormozi

"Create space that has uninterrupted time where you can actually focus and people aren't trying to take energy from you"

– Leila Hormozi

"The best split shift that I ever had was when I started gym launch"

– Leila Hormozi

"You become who you hang out with"

– Leila Hormozi

"The only difference between humans and animals is that humans can learn from others mistakes"

– Leila Hormozi

Full Transcript

that you can build today to become a millionaire in your 20s I actually became a millionaire by the age of 24 and I have a net worth of over 100 million by the age of 30. the first habit is waking up early I know a lot of people say this when I was 17 I worked at a cafe and because I took class later on in the day I had to do the opening shift and I remember when she was like okay great you're going to do the opening shifts I need to work by 4 45 and I was like what the 445 are you kidding me I don't want to get up that early that sounds ridiculous I'm gonna be exhausted it's gonna be terrible I didn't realize that this would translate to success later on I got into this habit of getting up extremely early like 3 45 4 o'clock I'm not saying you need to get up at 3 45 or 4 o'clock but I think getting up before 6 a.m is a habit that a lot of successful people have by getting up early I was able to do more than most people did now for others it might be that staying up late allows them to do more than most people do and so it doesn't really matter if it's getting up early or staying up late it's creating more time in your day most people don't actually work that much in fact what they're doing all day is they're reacting to their environment rather than controlling their environment create space that has uninterrupted time where you can actually focus and people aren't trying to take energy from you the second habit is taking walk or workout breaks I started doing this when I was like 23. I felt like I had a lack of energy you know I would sit at my desk and I would try to work for eight hours or 10 hours or however long I need to work I would just find myself feeling exhausted and rather than chug energy drinks all day I put intermittent breaks in my day so I can keep my energy up and so I call this the split shift if you're trying to make sure you can work longer hours split your day with something physical in between I'm using physical energy then I'm going to mental energy then I'm going back to physical energy and because of that I'm able to kind of replenish the opposite energy than the one I'm using at that moment so the best split shift that I ever had was when I started gym launch and I would work from 5am to 8 am then at 8am I would go for a walk then at 9am I would work again I would work till 1 pm then I'd eat lunch and I would go lift then I'd come back around 2 33 p.m and I would work from 3 to 7 30 or 8 p.m and then I would eat and go on a walk and I got so much done because I was constantly using different kinds of energy rather than trying to power through using one kind the whole day and you're like Layla but I have so many meetings I have to attend or all these things I need to do you can encourage other people to do this too if I'm having a one-on with somebody or a meeting I can say let's make it a walking meeting let's make it a walking one-on-one so I can encourage other people to kind of mix up their energy uses as well and oftentimes people really appreciate it the third habit is pruning your circle in my very early 20s I realized that a lot of the friends that I had though I loved them dearly and they were great people weren't necessarily aspiring to do the same things in life as me I started listening to Tony Robbins and Jim Rohn I heard them all saying you become who you hang out with and I thought to myself why would I hang out with anybody that I didn't want to be like that I didn't have something I admired about them I looked at how each of those people affected me financially physically spiritually emotionally and I realize that a lot of my friends at that point in time were actually detracting from all those areas of my life rather than adding to those areas of my life and I pruned my circle I got new friends that I actually felt like I wanted to be like and then eventually within you know a year two years I realized hey maybe these friends actually the friends that were good for me at one point now aren't good for me at this point and so as I moved through seasons of my life and the vision of who I wanted to be continue to get bigger and bigger I had to prune my circle more and more because you want to make sure that you're hanging out with people that you want to be like the fourth habit is to learn from the mistakes of others I once heard someone say the only difference between humans and animals is that humans can learn from others mistakes they waste the time you get the lesson we don't have time to learn all the lessons ourselves so what we want to do is be selective about the people we learn lessons from and then take those lessons and assimilate them into our minds into our bodies into our belief systems anytime I hired a mentor advisor coach I read a book by somebody that's more successful than me that I want to be like anything they said that was a turning point that was a belief that they held I just took it as my own I think there is a good time to copy rather than create and so it's copying others beliefs copying others lessons copying others mistakes we can just learn them now and we can have the success I had a mentor that when I was 23 told me that people were more important than anything in a business and I had no idea what was really important I knew I didn't want to manage people I didn't really like the idea of Manning people and what do I talk about now managing people because guess what I took what he said to heart that managing people was the most important thing and it paid off dividends I just took what he said I applied it it worked and I moved forward faster the fifth habit is not taking failure personally a lot of people ask they're like I just want to understand how you and Alex have just done this so fast let's look at unsuccessful people what do they do they try something it fails and then they dwell on it they don't try something the next day they don't try a different way of doing it they dwell on the failure when I was building gym launch we would fall on our faces time and time again something would didn't work we would try something else something else would work we would try something else dwelling on my mistakes was unproductive it was literally stealing my future from me by keeping me stuck in the past thinking about something I couldn't even change and so I realized that I could take that energy from dwelling on the mistake and I could put that towards building a new future my automatic reaction is go try something else that didn't work immediately try something else Alex and I would fly out to gyms and we would launch gyms ourselves we would do the sales marketing and sell people into their facilities we realized within just a few months that that was not scalable so we immediately switched to hiring a team to do that we realized that hiring teams do that wasn't the right way so we immediately switched to a licensing product and it was that ability to switch quickly without dwelling on the sunk cost that allowed us to move forward faster so bottom line if you want to move quickly and you want to make more money faster than anybody else you can't dwell on your mistakes it's not a good use of your time