32. Thoughts and Breakthroughs with Mel Abraham

Mel is the founder of Thoughtpreneur Academy and Business Breakthrough Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought-after financial experts, entrepreneurial mentor and strategic thinkers of our time. 

Unlike many other so-called “business coaches”, Mel lives everything he teaches. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the #1 National Bestselling Author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions of dollars for his clients, ranging from large corporations to startups and small family-owned businesses.

Mel is a true believer in the entrepreneurial way of life and says that becoming an Affluent Entrepreneur ™ is the “new frontier” and the paradigm that will shift society from simply existing to living life bigger, bolder and on their own terms.It’s about having a richer lifestyle, making a deeper impact and living with complete freedom.

Met last month, as he was a guest speaker at our Mommy Millionaire Mastermind event

• Review of the affluent entrepreneur had my head spinning in an awesome way
• Made me realize I needed to take a bigger front seat in my own financial destiny-Captain
• My income as an entrepreneur (multiple streams, random injections) very different than my husbands. 
• • Up until hearing Abraham speak, I was letting my husband run the finance ship in the house, even though I was now creating cash injections in some months equal to ou previous annual household income
  • Neither of us had really spent anytime improving our financial competence from what we saw growing up...we were just making more money than our parents did
  • “When you earn beyond your financial comfort zone, you can loose it all overtime if you don’t raise your competence on your money mindset

Brought forth some great concepts I’m hoping we can unpack a bit today, but before we get to that, let’s start with your story… 

1. You weren't always one of the most highly sought after financial experts.  Take us back to when you where trading time for money, right before you jumped into working for yourself? 
2. Can you share with us a bit about the affluent entrepreneur?
3. Can you speak a bit to wealth creation the priority, not income generation, b/c this is so important
4. Leapfrog investing, can you speak to this
   1. Where would you guide the newer entrepreneur to start their venture in asset investing? Taxes and write offs (Tax free wealth) ..is there a better place to start?
   2. 1. Retainer in high yield (where these days) until ready to invest, then in what?
      2. 1. Real-estate/Air B and B
         2. ???what else do you suggest to get started in here
5. 5 layers of income to create portfolio thinking for your business-the third layer being asset based income
   1. Can you speak to the benefits of being an entrepreneur and maybe some pitfalls or misses that you see with newer entrepreneurs who don’t know how to maximize their tax write offs?
6. Taxes and write offs 15% in your example, which I thought was low until reading “Tax free wealth” 
7. Favorite book from 2020, and maybe a good book for folks to get started on with improving financial competence 
8. Where can people find you?
9. Do you have any programs right now?