I lost $20,000 on my path to success. What do you need to lose?

Sacrifice for success
Seth Kniep
October 27, 2017
Entrepreneurship
I’m sitting here in my studio, reminiscing about what’s happened over the last few years. It’s truly incredible. I had a dream of building a business off of a single dime. I wanted to someday say to people, “Even if you just start with a dime, you can turn it into a lot of money, and create margin so you have time to do the things you love with the people you love.”

I set out to double a dime, and that's exactly what I accomplished. I love the dime because out of all American coins, it’s the smallest for it’s value. A nickel is bigger, but not as valuable. A quarter is more valuable, but much bigger. It remind me of how we tend to over-glorify the big things and underemphasize the little things.

When you start to treat the little things like the big things, it’s amazing what can happen. Do you know what happens when you double a dime twenty times? It becomes over $100,000.

People struggle to make money and wealth for themselves, not just financially, but also relationally and physically, because they’re afraid they might lose something along the way. There is a real-felt fear you will lose something along the way. But if you don’t lose something, you won’t succeed.

You have to be willing to let go of things.

I went to the bank today and took out a little money. Three years ago, I would not have dreamed of being able to hold $20,000 cash in my hands. But today I want to give you a very vivid picture of what I had to give up to succeed. I had to lose this $20,000. That’s how much I lost making decisions in my early days of selling on Amazon.

Why do I share this with you? To teach you. You have to be willing to let go now so you can have more later.

Today, this is a drop in the bucket, tiny pocket change compared to the money we have made and continue to make on Amazon. I don’t say that to be arrogant. I say it because it’s true.

We all had to let go of things in order to succeed. Sometimes, people don’t succeed because they’re too afraid of letting something go. It could have nothing to do with money. They could be unwilling to let go of an addiction to a video game, or the fear they’re not good enough, or the lies someone keeps telling them.

Yesterday, I had the privilege of coaching a client, asking and answering questions. She said, “My fiancée is encouraging me to pursue Amazon and start selling, and not get a regular job.”

She is so blessed. There are people out there who I talk to every day who are not being encouraged by their loved ones. You have to let go of those lies and start believing truth. Even if all you have is a single dime.

I knew if I could double my dime twenty times, it would become $100,000 dollars. It would help me give other people hope and prove they can do it too. But it started with a deep belief in my heart.

I want to share with you an email I recently got.

“Seth, I’m desperate. I need this training. I need knowledge in order to have a better life. I don’t like the way I’m living: more than $50,000 in debt, working two jobs just to pay bills. I can’t take a day off, because if I do, my paycheck won’t be enough to pay my bills. Days are passing by and all I do is work for nothing. I’m so mad at myself, because I don’t know what to do to change this problem.

“That’s why I started looking online for other ways to get income. I was looking on YouTube and found your videos. I asked God every day to put the right person in my way. I believe that you’re the right person. You have so much knowledge. This is what I need to start the process. I’m not going to listen to any noise out there, I’m going to focus on this.”

I love this. They started with desperation, then moved to a new mindset of “I’m going to focus on this.”

Something is going to change. Sometimes you have to get desperate. You have to get mad. You have to get pissed off at what’s going on in order to make a change in your life.

I can not tell you how many times I got bounced paychecks. I felt so stupid, because I have a wife and four kids, but I couldn’t pay our electric bill, even working for the richest company in the world. Something in society is wrong, and I’m going to change that.

I knew I had so little to start with, but I didn’t have nothing to start with. Someone the other day said “I don’t have enough money to start.” I asked myself: “I wonder if they have a dime.” If they have a dime, they can do a lot with it.

A dime means more to me than the $20,000 I just showed you. It was through tiny, little decisions every single day that turned that dime into something massive through exponential growth.

Doubling my dime taught me to value two very important things.

One: Time. I began to value my time. You don’t get a refund on it.

Two: Knowledge. Knowledge is precious. Most people don’t have enough of it in order to succeed.

Because I valued those two things, I was able to pay off my house. I had an $1,800 debt to pay every month that is now gone: we own this place.

But you know what the most important asset it? It’s more than an asset.

I went to my family when I started doubling my dime. I said, “Give me a picture of yourself that you want me to remember you by the most.” I put it on my wall and every day looked at it as motivation for me to keep doubling this dime. Then above the wall, I spray-painted “Live like no one else.” Why? So that someday I can live like no one else.

I don’t need people to like me. I don’t need people to approve me. What I need is one thing: to know that what I’m doing has a purpose, that it will make a difference, so that when I breathe my last, I am satisfied that I used my life well. I want to leave meaning for people, build a legacy that others can carry on, and be meaningful to people far beyond the political boundaries and guards people put up. Who cares about that?

Start with a dime. Build a legacy for you and your family, so that by the end of your life, you’re not full of regrets. Keep moving forward. Even if you do have regrets, don’t live in them, they’ll only discourage you. Don’t fear the future. Live right now, because today is the only time you can choose. 

I wish you massive success. Have an awesome day.

 

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Seth Kniep

Married a pearl. Fathered 4 miracles. Fired his boss. Turned a single dime into $104,857. Today, a self-made millionaire, Seth and his team of 8 badass coaches teach entrepreneurs how to build passive income on Amazon.

Dead serious about building income on Amazon with eight successful coaches in a community of badass Amazon sellers? We created something we've never done before: the Amazon Growth Bundle full year coaching course.

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