Being financially free has many flavors these days, but few people can claim that John Lee is selling a dream. As someone who grew up aiming to hold a 9-5 job and work for a big company, Lee’s dreams have changed drastically since then. He shares his secrets to becoming as financially free as he is via his mentorship program, Wealth Dragons. He didn’t start gifted with money, however.
Building From Nothing
Lee’s parents wanted him to go to school and land a great job when he left. His first job was washing dishes in his mom’s kitchen, but he quickly realized this wasn’t the route he wanted to take for the rest of his life. In a single weekend, he missed out on opportunities to hang out with his friends socially just so he could work.
He looked at his parents and realized that he rarely got to see them. Their job consumes their lives more than anything else. Still, it was what he was taught, so he continued working at school, graduated, and got a job.
A Reality Sets In
Lee’s job paid well enough, but he realized he had fallen into the same trap that his parents had. He was working more hours than he expected, and he didn’t have enough time to dedicate to the things he wanted to do.
Between his three-hour-long commutes and the fact that his earnings were tanked if he stopped working just for a little bit, he realized he needed to change things. A friend of his gave him the book “Rich Dad Poor Dad” by Robert Kiyosaki, which changed his outlook on life. He suddenly realized that passive income was possible. But how could he use that knowledge?
Finding a Mentor
Lee looked at his friends and acquaintances and realized he had someone close to him that he could rely on for information. Ying Tan owned and managed properties, having several at a young age. In him, Lee saw a person he wanted to be. Naturally, he asked Ying for some time to pick his brain over coffee.
Ying flatly refused him. Such a refusal surprised Lee, but it was his first lesson in mentorship. Mentors like Ying were busy. They were busy building their own empires, while workers like Lee were busy trying to build other people’s empires. Despite the denial, Lee was even more convinced that he had to learn from Ying.
The Deal of a Lifetime
Eventually, Lee got Ying to sit down and asked him what it would take for them to have coffee together or a weekend for Lee to learn from him. Ying quoted an exorbitant number – £10,000. Lee was floored by the number, but Ying explained himself.
Ying said that Lee was unsure about the number because he didn’t expect to pay for the information Ying had. Ying could teach him for free, but Lee wouldn’t implement what he learned unless he had “skin in the game.” Naturally, putting £10,000 on the line would give him the encouragement to do something to earn it back.
Taking The First Step Was Hard
Lee thought about this for a while, and eventually, he sold his convertible and used the money to buy a weekend with Ying. Many people told him it was a crazy idea, but Lee didn’t care. He needed the information that Ying had, and if this was the cost of it, so be it.
Within six months, he owned thirty-five houses and had a few more on their way to closing. Ying taught him the secret of buying houses without capital. That secret formed the basis of his business and how he became such a successful individual. Still, people saw what he was doing and took notice.
Conversations Drove Him Into Mentorship
Lee had no desire to be a mentor, but many people saw what he did and wanted in on what he was doing. A conversation over coffee turned into two conversations, then a meeting, then a lecture where he would talk about how he was earning these vast sums of money.
Since the early days of having coffee with people, he’s featured on the same stage as motivational speakers like Bill Gates and Richard Branson. He’s also published two best-selling books and managed a successful IPO for his company, all without any startup capital.
Making Sacrifices and Knowing The Right Time is Now
Lee says that all he has today comes from making sacrifices in the past. Everything that happened to him stems from the information he garnered from his mentor when he sold his car and bought that weekend of teaching. He had to make up his mind quickly because the offer had a limited time.
Knowing there would be no better time than the current moment spurred him to make the right decision. Today, looking back, he puts that moment of avoiding procrastination and biting the bullet as the turning point in his life and the building block for his success.
Going Forward, but Giving Back
Lee continues to mentor people through his Wealth Dragon training. The people who he met for coffee became the first batch of entrepreneurs who learned from his experiences. Today, Wealth Dragon offers training opportunities worldwide, giving many more people the tools they need to succeed as entrepreneurs.
Lee has also spent time and money building Membby, an online teaching platform that allows anyone to earn from teaching what they know to other people. In less than ten minutes, someone who knows nothing about online learning platforms can set up a course and start earning money from it.
Take Risks Now; They’re Worth It
Lee’s most important advice to new entrepreneurs is to take risks as they happen. That doesn’t mean taking every risk but finding the risks with the highest potential upside. Even if you’re in doubt about it, look at the potential return and dive in. Lee says that no entrepreneur who thinks like him would ever want to grow old wondering what might have been. Taking the risk early ensures that you can reap the rewards well before old age.
