JT Foxx’s rules on get­ting rich

Finweek English Edition - - MONEY - BY JININE BOTHA

Pas­sive in­come is a long-term game. You will not make im­me­di­ate sums of cash with pas­sive in­come meth­ods – such as prop­erty in­vest­ing, in­ter­net ven­tures and busi­ness au­to­ma­tion – but it is the only way to get rich and stay that way.

This is the ad­vice of JT Foxx, branded the world’s num­ber one wealth coach. Buy­ing, up­grad­ing and sell­ing prop­er­ties or rent­ing prop­er­ties was how Foxx started. “It was the in­come that started to grow from th­ese prop­er­ties that gave me the cap­i­tal to start in­vest­ing in other pas­sive in­come strate­gies.”

Foxx t urns tra­di­tional strate­gies around real es­tate, busi­ness growth, buy­ing busi­nesses, af­fil­i­ated mar­ket­ing, e- com­merce, i ntel­lec­tual prop­erty, tra­di­tional in­vest­ing and pri­vate lend­ing on it s head. He teaches st udents un­tra­di­tional meth­ods about how to use th­ese to cre­ate a pas­sive in­come.

Says Foxx: “My prop­erty busi­ness is now com­pletely pas­sive, where I spend less than an hour a week on look­ing at num­bers and giv­ing ap­provals be­cause of the sys­tems and peo­ple in place to do the rest.”

Mil­lions of peo­ple have at­tended one of the JT Foxx Mega Part­ner­ing seminars pre­sented across the globe over the past few years. At th­ese seminars, ei­ther Foxx or one of his stu­dent pre­sen­ters bom­bards guests with a wealth of clichés: “Suc­cess is not easy.” “Suc­cess­ful en­trepreneurs are will­ing to do what other peo­ple will not.” “The great­est risk in life is never tak­ing one.” “If you do noth­ing, noth­ing will change.”

Th­ese mo­ti­va­tional key words have be­come a big part of Foxx’s coach­ing mantra and an in­te­gral part of his clients and stu­dents strate­gies. Not just in busi­ness, but also to life.

“Wealth is not an art, it a sys­tem that you can learn,” Foxx told Finweek in an in­ter­view via Skype ahead of his trip to South Africa at the end of May where he will present his wealth-build­ing seminars.

He be­lieves there is a sys­tem to a ny t hing. “Once you have done some­thing, you know how to do it again and again. If you have done it once, you then cre­ate a sys­tem so some­one else can repli­cate it for you.”

Foxx says that he learned most of the sys­tems that he uses to­day from peo­ple who are more suc­cess­ful than him.

“If Ge­orge Ross [ex­ec­u­tive vice pres­i­dent of the Trump Or­ga­ni­za­tion] tells me how I should be do­ing some­thing I lis­ten, if his ad­vice on what sys­tem to fol­low is good enough for Don­ald Trump, it’s good enough for me. Too many peo­ple ask ad­vice from peo­ple who aren’t suc­cess­ful and then won­der why they aren’t get­ting to where they want to be. You have to du­pli­cate the sys­tem and strate­gies from the peo­ple who are wealthy, not lis­ten to the peo­ple who aren’t where you want to be.”

Born in Canada, Foxx strug­gled with self-con­fi­dence due to a stutter. Yet he al­ways be­lieved that he was worth more.

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