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Recently I was able to interview Com Mirza, “The $500 Million Man”, partly for fun and partly to share to learn about how he’s been able to become so successful over the course of his life (also, it is one of my Gap Year Experiments to have lunch with at least 3 people who have a personal net worth of $100 Million or more). Like myself, he started at a very young age, with a humble lemonade stand.
Com has failed over 100 times in investments and startups and credits these failures in correcting his course and his bearings for wild success.
This is an interview not to be missed. Click the “play” button above to listen to our half hour interview, and for your convenience, I’ve also listed 7 of my major takeaways from our chat below!
7 Inspirational Takeaways I Got From Com Mirza
1) Start YOUNG!
If you can, start as young as possible! Com started at 7, and even though he had many failed attempts before he “got it”, he was still really young when he finally was successful.
As a young person, you will get a world class education from starting various projects and ventures, which is what I showcase in my upcoming book 2 Billion Under 20. Even if you aren’t young now, today is the best day to start a new project or business so you can enjoy the fruits of your labor as soon as possible.
2) Create Daily Rituals for Success
Com is up at 5 A.M. or earlier, spends time to work on himself (via meditation, exercise, reading, journaling, etc) all before he tackles his work. He’ll then work up until noon, uninterrupted, in order to take time off to hang out with family. He then takes an afternoon nap, and goes back to work after dinner when no one can bother him. He sleeps maybe 5 hours a day, and is getting most of his work done while others sleep. Com also has an hourly reminder to be grateful for what he has, and that keeps him grounded in his success.
3) Work Your A** Off
Hard work separates the super successful from everyone else. “It comes down to the work,” says Com. If you are the hardest working, it is inevitable that you will be successful. Many people think Lebron James is the best basketball player on the planet, but he is also one of the hardest workers in the NBA, and that’s why he is at the position in life that he’s at. It’s the same in business.
4) Failure is Temporary
Most successful people fail at one point or another in their journeys. Com failed countless business ventures before finally going bankrupt, creating one more business to break even, and then ultimately others (via investing, founding, etc) in order to eventually become the $500 Million Man he is today.
As he goes for $1 Billion in net worth, there will certainly be other failures he will encounter, but failure will be temporary. The impact he can have and legacy he’ll leave will last forever.
5) Be Smart With Your Initial Success
In order to build the type of net worth Com has, you can’t be foolish about your money when you make your first real income. Most young people prematurely splurge on cars, houses, crazy nightlife, and other luxuries they don’t need when they can be reinvesting in real estate, other companies, and other things that will grow their net worth and become assets over time instead of cost them money in the long run.
6) Learn Along The Way
You don’t have to always know everything before you start in the business world (just like I don’t know what’s going to happen as I embark on The Gap Year Experiment!). It’s okay to give it a go and learn along the way.
7) Never Give Up!
Com had a massive vision. After selling his first company for $60,000 he decided to then reinvest that money with the risk of losing it all on the next venture, knowing that even if he did, he would eventually reach his end goal if he stuck with it and never gave up. Com looks at failure as a stepping stone to success, and not as the end of the world or as a weakness.
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Although it wasn’t lunch, necessarily, I spent about an hour on the phone at the time of this interview with Com, which definitely qualifies for one of the three people I need to speak to/have lunch with in order to complete my “Gap Year Experiment” of having lunch with at least 3 people with $100 Million in personal net worth. Follow all the Gap Year Experiments by joining the Gap Year Experiment Community below, and check out the other experiments here.
(BONUS POINTS: “Comment” below with your favorite takeaways from our interview, and share your thoughts after hearing what Com has to say about failure, hard work, and starting young!)