53. The Millionaire Myth in Online Business

A lot of people throw around the word “millionaire” but when you look at the numbers it’s clear they are using a different definition of millionaire. My goal isn’t to trash talk business owners who call themselves millionaires, but to encourage you to be a savvy consumer—of both businesses and content—and to be aware of this when you’re looking at your own numbers and feeling like you’re behind.In this episode, you’ll hear…02:07 - Why this industry needs a reality check11:29 - The difference between revenue and income13:04 - Understanding net worth17:17 - Not focusing solely on revenue18:47 - Why you should hold your industry to a higher standardIn our review of the week, Karly Wannos says: “The BEST no fluff, step-by-step podcast for Entrepreneurs. Sam Vander Wielen’s podcast, On Your Terms, is an absolute must for all entrepreneurs. The episodes are not only interesting and inspiring but will walk you through step-by-step on what you need to know to operate as a small business owner or entrepreneur. This podcast and Sam’s Ultimate Bundle® takes all the guess work and stress away from protecting your online business. This podcast is a total game-changer for anyone looking to start, grow or scale a business in 2022."If you’d like a shoutout (and a chance to win a $20 gift card), just leave a review on Apple Podcasts and send a screenshot of it to me on Instagram via DMs!Click here to find the full show notes and transcript for this episode.RESOURCES:Episode 48. Do You Need a Business Coach?Get notified when each episode of On Your Terms® comes outCONNECT:Get Sam's weekly newsletter, Sam's SidebarFollow Sam on InstagramFollow Sam on YouTubeSubscribe to Sam's Substack, Beyond BusinessTake Sam's free legal workshop "5 Steps to Legally Protect & Grow Your Online Business"DISCLAIMER