I recently watched an interview with Myron Golden, a business consultant who made $15 million in a single year, and his insights on wealth creation were eye-opening. What struck me most was his approach to sales and marketing, which completely flips the conventional wisdom on its head.
Golden’s journey is particularly compelling because he wasn’t born into wealth. He started as a trash man making $6.25 an hour before transforming himself into a multimillionaire. His story proves that with the right mindset and strategies, anyone can change their financial trajectory.
The Wealth Mindset Shift
According to Golden, the fundamental difference between the wealthy and everyone else lies in how they perceive money. Poor people think money is for paying bills. Middle-class people think it’s for maintaining good credit. Rich people believe money’s primary purpose is to turn it into more money.
This perspective shift is crucial. When I get a dollar, I shouldn’t immediately think about spending it. Instead, I should ask: “How can I turn this dollar into ten, a hundred, or even a thousand dollars before spending any of it?”
Golden also emphasized the importance of keeping expenses low, even when profits are high. Many entrepreneurs make the mistake of upgrading their lifestyle too quickly when money starts coming in. This is a trap that Golden fell into early in his career, which led to financial difficulties despite making significant income.
The Secret to Effective Selling
What makes Golden one of the best salespeople in the world? His answer was refreshingly simple: he only sells people things they already desire to buy.
Most salespeople try to find someone to sell their products to. Golden flips this approach by making himself findable to people who already want what he’s selling. He believes there are millions of potential customers who would love to buy what you’re selling if they only knew you existed.
Another crucial insight: sell to people with money. It sounds obvious, but many entrepreneurs target markets with limited purchasing power. As Golden puts it, “If you want to get rich, sell to rich people.” They have the money to buy your products or services, making the sales process much easier.
“I don’t see selling as getting money from people. I see it as delivering value to them. You get money from them because they happily pay you because you’ve solved the problem they’ve been struggling with for a long time.”
When faced with rejection, most people immediately lower their prices. Golden suggests a better approach: raise the value instead. Offer more value, and people will be happy to pay your price.
The Power of Focused Attention
One of the most valuable lessons from Golden was about the relationship between attention and revenue. He summed it up perfectly: “Where attention goes, revenue flows.”
The wealthiest people he’s met share a common trait: hyper-focus on intention while ignoring distractions. They understand the difference between:
- Intention: anything that moves the needle in your favor
- Distraction: anything that does not move the needle in your favor
This focus extends to how they build wealth. Instead of diversifying too early, they go deep on solving specific problems. Golden made $5.5 million in a single day by making a premium value offer to a group of people with whom he had built relationships over time.
Investing in the Right Assets
Golden’s approach to wealth building centers on a simple principle: income follows assets. Instead of focusing on working hard for hourly pay, he concentrates on acquiring and building assets.
These assets can be traditional investments like real estate or crypto, but they can also be created. For example, every book Golden has written continues to generate income long after the initial work is done.
However, the most valuable investment he’s made is in his own mind. He’s spent approximately $1.7 million on mentorship, books, courses, and coaching programs. This investment has paid off many times over by providing shortcuts to success.
I found it fascinating that Golden sees mentorship as “the ultimate shortcut.” Instead of spending years figuring something out through trial and error, you can learn from someone who has already mastered it.
The Future of Wealth Creation
When asked about which industry he would enter today, Golden didn’t hesitate: artificial intelligence. He explained that it’s always easier to create wealth in the current economic era than in past ones.
Throughout history, wealth has shifted from land (agricultural age) to machines (industrial age) to distribution outlets, and now to AI. Those who get started in AI now will be positioned to create the wealth of the future.
The key is recognizing opportunities that already exist all around us. As Golden puts it, “People think they lack access to abundance. They don’t lack access to abundance. They lack access to awareness of abundance that’s all around them.”
By changing how we perceive money, focusing on the right markets, building valuable assets, and investing in ourselves, we can transform our financial futures just as Golden did. His journey from trash man to multimillionaire shows that with the right approach, financial transformation is possible for anyone willing to learn and apply these principles.
Frequently Asked Questions
Q: How did Myron Golden escape the cycle of poverty?
Golden escaped poverty by first recognizing he hated being poor, then studying what wealthy people did differently. He shifted his focus from working for hourly pay to building assets that generate income. Instead of concentrating on paying bills, he focused on putting more assets in his “asset column,” understanding that income naturally follows assets.
Q: What does Golden mean when he says “sell to people who already want what you’re selling”?
Rather than trying to convince people to buy something they don’t want, Golden focuses on making himself visible to those already looking for his solutions. He believes millions of potential customers would happily buy what you’re offering if they knew you existed. This approach makes selling much easier because you’re connecting with people who already desire what you provide, rather than trying to create that desire from scratch.
Q: Why does Golden recommend investing in AI right now?
Golden believes we’re currently in the AI age, following previous economic eras (agricultural, industrial, and distribution). He suggests that it’s always easier to create wealth in the current economic era than in past ones. Those who get started in AI now through 2025 will be positioned to create significant wealth as this technology continues to transform industries and create new opportunities.
Q: What’s the difference between how poor, middle-class, and rich people view money?
According to Golden, poor people see money primarily as a means to pay bills. Middle-class people view money as a way to maintain good credit so they can buy things they can’t afford to impress others. Rich people, however, see money as a tool to create more money. They focus on turning each dollar into multiple dollars before spending any of it, allowing their wealth to compound over time.
