348: Net Worth of $12.5+M - I Started As a Janitor

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8 • 872 Ratings

🗓️ 11 March 2024

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Damon has a net worth of $12.5+ million. He is the founder of a successful marketing agency. He shares his journey from starting a car enthusiast website to becoming an entrepreneur. He discusses the importance of taking calculated risks and betting on oneself. Damon also talks about the value of real-world experience and mentorship in entrepreneurship, highlighting the limitations of traditional education. He emphasizes the need for entrepreneurs to find their passion and encourages his employees to pursue their own entrepreneurial goals.

Damon shares his approach to asset allocation, including his investments in real estate and whole life insurance. He also discusses the balance between taking cash home and reinvesting in the business. In this conversation, Damon discusses his journey as an entrepreneur and the importance of prioritizing personal health. He shares insights into the benefits of whole life insurance and how it can serve as a retirement account.

Damon also talks about the process of rediscovering personal interests and the impact it has on overall well-being. He highlights the unique selling points of his agency, emphasizing the importance of data analysis and documented processes. The conversation concludes with rapid-fire questions about Damon's experiences with money and his advice for aspiring entrepreneurs.

Takeaways

*Taking calculated risks and betting on oneself can lead to entrepreneurial success.
*Real-world experience and mentorship are valuable in entrepreneurship, often surpassing the benefits of traditional education.
*Encouraging employees to pursue their entrepreneurial goals can lead to a more loyal and productive team.
*Diversifying asset allocation, including investments in real estate and whole life insurance, can contribute to long-term financial stability. Prioritizing personal health is crucial for long-term success and overall well-being.
*Whole life insurance can serve as a retirement account and provide multiple benefits, including a death benefit, cash value, and the ability to withdraw funds.
*Rediscovering personal interests outside of work and family is essential for personal growth and fulfillment.
*Data analysis and documented processes are key factors that set Damon's agency apart from competitors.

Transcript

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0:00.0	But what I realized is my side hustle started picking up and you go to college for the potential to increase your opportunities.
0:06.2	And I realized that I already had an opportunity in front of me.
0:08.4	And so why would I continue to invest more time and money into college on a maybe when there was a definitive yes that was available.
0:15.4	So I actually dropped out and never went back.
0:17.9	Like spreadsheets and business planning, but when you throw yourself in the fire of entrepreneurship, it doesn't matter what you've
0:25.1	planned. Like the majority of that goes right out the window day one when you actually start
0:29.2	integrating those things. And so there's a big difference between planning and doing and I think
0:33.8	educational institutions are largely planning and entrepreneurship
0:37.0	mentoring is largely doing.
0:38.2	Welcome millionaires and future millionaires. You're listening to the
0:42.2	Millionaires Unveale
0:43.4	podcast, the show where you'll hear the stories and interviews of
0:46.7	everyday millionaires will unveil their decisions, their strategies,
0:50.6	and their portfolio allocations.
0:52.4	Now to your host, J. Smat. and their portfolio allocation.
0:52.6	Now to your host, Jayce Mattingen.
0:55.6	Welcome back to another episode of the Millionaires and Bell podcast.
1:01.2	This is episode number 348. Stace has... News and
1:03.2	this is episode number 348.
1:03.3	Stace, how's it going? How are you, Justin, to spring forward here?
1:07.5	You know what?
1:08.5	Today was a good day.
	...

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