The 4 Simple Steps to Becoming a Multi-Millionaire with Timo Armoo

By Bill Jackson October 10, 2023 1 mins read 1589 Views

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#53 Timo Armoo is a 27-year-old entrepreneur who sold his business, Fanbytes, for tens of millions of dollars. Following your passion is age-old advice, but Timo explains not only why it is a terrible idea but also why it’s keeping millions of people poor. Timo outlines the four stages of business growth and the steps you must take to scale.

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Timestamps:
00:00 - Intro
02:04 - What you should learn about money while growing up to become a multi-millionaire
07:54 - Three skills that distinguish Timo from those who do not become a multi-millionaire
13:11 - Something that Timo wishes he would have learned at 20
19:04 - The most valuable skills that people can learn
26:38 - Setting and Moving Goalposts
31:42 - The biggest thing about side hustles
39:27 - The challenges of delegation and employee incentives in business
52:11 - The value of curiosity and seeking advice from multiple sources
01:00:11 - Timo Taught Me