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Below, both he and Mitchell share the most impactful wealth-building strategies that transformed their journeys and their businesses.
Also seefive ways to build wealth quickly, according to Warren Buffett.
Create Value for Your Audience
My No.
1 wealth-building strategy is providing massive value to my audience through education and community, Mitchell said.
Hes built multiple successful online businesses by identifying problems aspiring entrepreneurs face and creating resources to help solve them.
Diversify Income Streams
Another key strategy for Mitchell is diversifying income streams.
I never rely on one product, platform or traffic source.
If something changes, I have other avenues to generate revenue, he said.
Spreading risk across many streams creates stability and the opportunity for growth, he explained.
When my businesses started growing quickly, I struggled to keep up.
Hiring remote staff and implementing automated processes let me focus on high-level work, he said.
Smith also prioritized building the right team.
He did so by automating and outsourcing, reinvesting in growth, and building a winning team.
From the beginning, Smith focused extensively on automating and getting rid ofnoncore in-house account tasks.
Smith added that his path to building wealth was focused on education, connection and value.
My wealth came from helping others build wealth.
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