Asking Millionaires How To Make $1,000,000

Introduction

• Noah Kagan is in Wesley Hills, Austin, Texas, to find out how people become millionaires.
• He plans to knock on random doors and ask people what they do for a living.

“We are out here in beautiful Wesley Hills. This is where Joe Rogan lives. Lance Armstrong, Matthew McConaughey, and we’re gonna go knock on random doors and find out what people do for a living. This is something I’ve been curious about since I was a little kid, how do these people get rich, and today we’re gonna find out.”

Door-knocking in Pemberton, Austin

• Noah spots a house in Pemberton that he has seen for years and decides to knock on their door.
• The homeowner declines to answer Noah’s questions but politely thanks him.

“We’re making a YouTube video and we’re just curious what you do for a living?” “I can’t ask you that question but thank you.”

People’s reactions to door-knocking

• Noah shares that he doesn’t typically open his door to strangers and instead looks through the blinds to see who is there.
• Noah acknowledges that it can be uncomfortable for people when a stranger comes to their door and asks personal questions.

“When someone comes to my door, I don’t open my door. When someone knocks, I look through my blinds like, ‘What, what, what? Who, what?'” “I live in the area and we’re doing a series where we ask people what they do for a living. Do you mind if I ask you?” “Yes, I don’t want to answer your questions.” “Imagine some random guy comes to your door and asks, ‘Excuse me, what do you do for a living?'”

Millionaire with Dreamland Venue

• The homeowner is the founder of Dreamland, a family venue in Dripping Springs.
• He explains that he started his career in finance and eventually had a hedge fund.
• After 20 years, he decided to venture into a different game and created Dreamland.

“I’m the founder of Dreamland, which is an amazing family venue in Dripping Springs, unlike anything else.” “My first career was in finance, a Wall Street guy. I had a hedge fund, and I loved it. It was a fun game to play. But about seven years ago, I decided, ‘Yeah, I said, ‘I want to play a different game when I grow up.'” “I believe that markets do make mistakes, that markets are not rational. We have humans, as we all do, we all make mistakes.”

Millionaire with Mobile Home Dealership

• A couple shares that they started a mobile home dealership, which eventually grew into their own company.
• Their advice for aspiring entrepreneurs is to be patient and avoid taking out unnecessary loans.

“Me and my husband started a mobile home dealership, and that’s kind of how we started our company.” “For people that are starting out, what would you recommend or what advice do you have for them?” “Be patient. Don’t take out a bunch of loans, even though people say do it. You’re already going to have a lot of risks.”

Millionaire as Director of Finance

• Noah approaches a homeowner and compliments their house before asking what they do for a living.
• The homeowner reveals they are the Director of Finance at a software company.
• They explain that working in finance can be lucrative, even without owning a company, and that their spouse also has a successful career.

“I live in the neighborhood, and this is totally random, but we’re making a YouTube video about what people do for a living. So we’re curious, what do you do for a living?” “I am the Director of Finance at a software company.” “It can work while you work. You get promoted, you get more money. My wife also works and has a good career, and that helps a lot.”

Starting as a Builder

• Noah encounters a homeowner who is a builder.
• The builder suggests getting a degree in architecture but not practicing as an architect.
• They also mention the importance of having a plan and convincing the bank to loan money.

“So, what do you do for a living?” “I build new houses, man, and John Loose. L-U-C-E.” “I was into architecture, so go get yourself a degree in architecture, but don’t be a practicing architect.”

Millionaire Physicians

• Noah approaches a homeowner and comments on their large dog before asking what they do for a living.
• The homeowner reveals they are a physician, while Noah’s companion shares they work in tech recruiting.
• The physician explains their journey of starting with college debt and transitioning from finance to tech. They found more fulfillment and better performance reviews in their current job.

“I’ve driven by it a lot, and I was curious what you all do for a living?” “I’m a physician.” “I do tech recruiting.” “When I was in the job, I got better performance reviews than I ever did when I was in finance.”

Conclusion

• Noah concludes his door-knocking adventure and expresses his excitement about the insights he gained.

“That was awesome.”

Following Your Passion

• It is important to pursue a career that aligns with your passions and interests.
• Following your passion in school can lead you in the right direction for your future career.
• Education is key to success and studying hard is essential.
• Meeting successful people from different fields can expand your network and provide valuable guidance.

“Whatever you’re passionate about in school, you should try to follow that through to your career because that’s going to lead you in the right direction.”

Utilizing Your Network

• Building relationships with wealthy or successful individuals can provide access to valuable information and guidance.
• Reach out to friends or acquaintances who have connections with wealthy individuals.
• Asking for a lunch meeting or seeking their advice can open doors for learning opportunities.

“You probably can find a lot of the information or different ideas from people already in your own network.” “Can I take you out to lunch and from that, I’ve actually worked with him and invested with him, and he’s given me advice and guidance on real estate.”

Leveraging Personal Connections

• Expanding your network of successful individuals can be done through leveraging personal connections.
• Friends of friends or acquaintances can introduce you to wealthy individuals who can offer valuable insights.
• Taking the initiative to connect with them and seek their advice can lead to learning opportunities.

“Do you have friends that have friends that are wealthy or they’re friends of friends? Because if you’re curious to learn about this stuff, like I want to learn about real estate, and I was renting from a guy, and I said, ‘Hey, you seem like you’re doing well in real estate. Can I take you out to lunch?'”

Tapping Into Existing Resources

• Look within your existing network for potential sources of information and ideas.
• Friends, acquaintances, or colleagues in different industries may possess knowledge and experience worth tapping into.
• By making the effort to connect with them, you can gain insights and broaden your understanding.

“You probably can find a lot of the information or different ideas from people already in your own network.”

“If you liked this video and you want more of it, make sure you subscribe. But check out this video right up here where you can actually see behind the scenes of the day in the life of me.”