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How To Make Your First Million Dollars (This Year) | Arlan Hamilton

9 years ago, Arlan Hamilton was homeless, reading The Fast Company magazine for free at the airport where she slept. Everything changed when she keyed into her uniqueness.

Arlan HamiltonguestCalum Johnsonhost
Jan 29, 20241h 19mWatch on YouTube

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CHAPTERS

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Chapter summaries

  1. Janet Jackson's Truck and Sleeping in the Airport

    Calum Johnson opens with context on Arlan Hamilton, then starts with the book's opening scene: buying Janet Jackson's truck at auction. He asks about the time she was homeless in 2015. Arlan explains why she chose the airport as shelter and the story she told herself there.

    • •Arlan bought Janet Jackson's truck at auction for $114,000 at age 40
    • •She had experienced different types of homelessness through her adult life
    • •She chose the airport for shelter and safety, rather than living on concrete
    • •She told herself she was just missing a connecting flight
  2. The Survival Mindset and Imagining a World Without Backstage Capital

    Calum asks what mindset kept Arlan going while she was trying to survive day to day. She describes the parking-lot moment in 2014 when she imagined 2020 without Backstage Capital and rejected it. Both discuss why naivety is needed to begin.

    • •She was broke and staying in a hotel room with her mom while building Backstage Capital
    • •In 2014 she imagined 2020 with no Backstage Capital and said "No" out loud
    • •She held the micro (one foot in front of the other) and the macro (the vision in five to ten years)
    • •Naivety helps, since knowing everything required might stop you from starting
    • •She compares it to what mothers say about labor
  3. Where Her Confidence Comes From

    Calum asks where Arlan's confidence came from given her background. She says she believes everyone is equal and meant to take up space. She traces her confidence to age five and describes being the odd one out, bullied, and told by her mom to thank people who call her weird.

    • •She believes all people are equal, which makes confidence easy
    • •At five she approached a store employee to find a belt for her shy mom
    • •She was bullied and called weird in school
    • •Her mom told her to thank anyone who calls her weird, "because they're seeing you"
    • •Traits that got her kicked out of class now have an ROI
  4. Not Fitting the Status Quo

    Calum asks what people were missing about her. Arlan says she wasn't meant for a 9-to-5 or a status quo life, and she talks about being a gay teenager and her love of learning despite disliking the one-size-fits-all classroom.

    • •She wasn't meant to work 9-to-5 or live a status quo life
    • •She loves learning but felt the classroom's uniform measuring never fit
    • •She stood up for others who were picked on
    • •People were trying to figure her out while she was trying to figure herself out
  5. Think Bigger: A Vision Beyond Yourself

    Calum asks what advice Arlan would give her 34-year-old self in the airport. She says being a millionaire couldn't be enough of a goal and that her North Star was how many people she could positively affect. She recounts how a funding statistic reshaped her mission and says being stuck may mean thinking too small.

    • •Becoming a millionaire alone couldn't be the goal; the vision had to be bigger than herself
    • •She began by wanting to raise $1 million for her company
    • •Less than 10% of venture funding goes to women, people of color, and LGBTQ founders
    • •The statistic led her to want the money "for us"
    • •If you feel stuck, you might be thinking too small
  6. Calling, Skill-Stacking, and Being Ready

    Calum raises the idea that your calling will call you and that the answer is often something you already do. Arlan says Backstage Capital came to her as a calling and advises building skills while waiting. She describes learning something every day so she was ready when her first check arrived in 2015.

    • •Arlan says this work called to her rather than her seeking it out
    • •Her advice for the meantime is to build skills so you're ready when the phone rings
    • •She couldn't afford the Fast Company issue at the airport, then later made its cover
    • •She committed to learning something every day from mid-2013 to mid-2015
    • •She was ready when the first check came in September 2015
  7. Eight Ways to Make a Million and Choosing One

    Calum introduces Arlan's eight-week framework and the eight income models. Arlan says to choose one and focus on it for a year, giving examples of course creators and a crochet entrepreneur. She also claims she could take three people from zero to a millionaire in two years.

    • •The eight options include online courses, memberships, affiliate marketing, consulting, agencies, training, SaaS, and e-commerce
    • •Arlan groups them as teach, show, or do it for them
    • •Choose one and focus for a year, since that's where 90% of people are lost
    • •You may have expertise you don't realize you have, like the crochet seller who packaged the hardest first step
    • •She believes she could take three randomly chosen people to a million in two years
  8. Week One: Research and Development

    Calum asks how to decide what to focus on. Arlan says it should fulfill you, be ethical, make money, and not be sold only to broke people. She stresses obsessive study of competitors and low-risk starts, and Calum adds the foundation and action-first mindsets.

    • •You can keep a day job while building toward something else
    • •Pick something you're obsessed with, that helps others, that is valuable, and that can reach a higher price point
    • •Study competitors; founders who say they have none are wrong
    • •Start with low-stakes, low-risk experiments and take the risk on yourself
    • •Calum describes research as an experimentation phase of looking for signal, and Arlan adds talking to potential customers
  9. Crafting Your Main Offer and Focused Channels

    Calum moves to part two, the main offer and the channels that support it. Arlan explains picking one or two channels instead of spreading thin. She uses affiliate marketing for a curator as an example. She says she doesn't want to hear "I can't do it."

    • •Choose one or two supporting channels like a podcast, YouTube, or social content
    • •Most people either rely on one weak channel or spray and pray
    • •A curator can recommend products with affiliate programs without creating their own IP
    • •Founders who say they've done nothing because they couldn't raise money get pushback from her
    • •You have to consume the material, plan, and act, because it's not Netflix
  10. Confidence, Receipts, and the Dark Place

    Calum links focus problems to confidence and limiting beliefs. Arlan says she spent the first third of her book on mindset, and Calum cites the idea of an undeniable stack of evidence. They discuss building receipts, enduring the early period of little response, and what Arlan sees in Calum's channel.

    • •Calum says lack of focus can be a hedge rooted in low confidence
    • •Arlan says she devoted the first third of her book to mindset
    • •Confidence comes from stacking evidence, or "receipts"
    • •Calum calls the early stretch of little response "the dark place" where you get good by persevering
    • •Arlan says his early videos show the same passion and curiosity as his recent ones
  11. Leads and Content: Marketing vs. Sales and Documenting

    Calum asks how to drive leads to an offer. Arlan distinguishes sales (asking someone to buy) from marketing (drawing people in) and shares the real estate founder example. They discuss "document, don't create," vulnerability, and sticking with content long enough to see results.

    • •Sales is asking for payment; marketing draws people to you, and better marketing means less selling
    • •A real estate founder was advised to film a full renovation and condense it into 30 seconds
    • •Content is mostly free, paid for with attention and time
    • •Gary Vee's "document, don't create" and including downsides can inspire others
    • •Most people quit before the rewards come, and early work from successful creators looks cringe
  12. The Volume Game: 100 Emails and Breaking Down a Million

    Calum cites Hormozi on volume, and Arlan tells how she sent 100 customized emails and landed a tour job with CeeLo Green. Calum recalls how she broke a million into smaller payments, and they discuss how one response can change a life.

    • •Many business problems are a pure volume problem
    • •Arlan sent 100 deeply customized emails, got 20 responses, and three interviews, which led to a job with CeeLo Green
    • •A million can be 10 payments of $100,000 or 100 payments of $10,000
    • •One response can change your trajectory
    • •Arlan says that if she knew 100 attempts would pay off, she would do it every day
  13. Compounding Success and Week Eight Consistency

    Arlan discusses compounded success, citing Sam Altman's career progression, and her own first $10,000 speaking fee. Calum contrasts incremental school and work with the feast-or-famine entrepreneurial path. They discuss week eight's consistency and why Arlan shortened the plan to eight weeks.

    • •Arlan describes Sam Altman's article on compounded success and his succession of ever larger ventures
    • •Each first step adds skill and experience even if it doesn't work
    • •Her first $10,000 speaking fee felt like making it, and she now gets far more
    • •Calum contrasts incremental salary growth with entrepreneurial hockey-stick growth
    • •Week eight is about consistency, and Arlan says eight weeks was arbitrary and each step could take months
  14. What Happens After Your First Million

    Calum asks what Arlan would tell her 34-year-old self about making a first million. She says money can't buy happiness but can rent it and remove obstructions. She adds that a million feels similar to twenty, that it relieves family worries, and that entrepreneurs then look for the next challenge, motivated by the people they want to help.

    • •Money can't buy happiness but can "rent" it by removing obstructions
    • •It took longer than she expected but was worth more than she imagined
    • •She says one million and twenty million are hard to differentiate
    • •It relieves money worries for family and loved ones
    • •Entrepreneurs tend to ask "what's my second?", and the people she wants to impact stay her motivation

Publisher timestamps

  1. 0:00Intro
  2. 1:46She was homeless sleeping on the airport floorRead this chapter
  3. 5:19The survivor to millionaire mindsetRead this chapter
  4. 9:56The ROI for being differentRead this chapter
  5. 16:13The first step to achieving your millionaire ambitionRead this chapter
  6. 22:20Be prepared for your momentRead this chapter
  7. 26:06The 8 week framework to become a millionaireRead this chapter from 26:07
  8. 33:15Turn your interests into a million dollar reality
  9. 44:52How to create your million dollar offerRead this chapter
  10. 52:01Be consistent and grow your confidence (Alex Hormozi)Read this chapter
  11. 58:13Sales Vs Marketing (Which one makes you $1M?)Read this chapter
  12. 1:02:04Document what you’re currently doing (Gary Vee)Read this chapter
  13. 1:05:18Stop waiting around to find the right time and just take action (Steve Jobs)
  14. 1:07:55What it takes to make $1M/ yr (Full breakdown)Read this chapter
  15. 1:09:25The compounded success effect (Sam Altman)
  16. 1:15:30What happens after becoming a millionaire.Read this chapter

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