Why 98% of Entrepreneurs Fail (And How to Be the 2% That Succeed)

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Michael Law's journey from poverty to coaching millionaires proves that your circumstances don't define your destiny. Growing up with ceilings caving in and cockroaches in cabinets, he discovered the question that changed everything: "Why do some people live so well while many more do not?" His answer led to building 12 companies and creating the revolutionary Ideal app.

From shutting down 9 businesses to charging $100K for consulting, Michael reveals the brutal truth about entrepreneurship: most people know what to do but never actually do it. His allocation strategy guarantees profit on every deposit, while his decade-thinking approach separates successful entrepreneurs from those stuck in monthly cycles.

Who is Michael Law?

Michael Law is the founder of the Ideal app and host of the Millionaires to Billionaires talk show. Rising from poverty where cockroaches greeted him in kitchen cabinets, he built 12 companies, learning painful lessons by shutting down 9 of them.

Now commanding $100K annually for corporate consulting, Michael has cracked the code on transforming knowledge into action. His success philosophy centers on developing foundational habits daily and thinking in decades rather than months.

5 Key Takeaways

1. Decisiveness separates winners from dreamers - Successful entrepreneurs decide first and handle the "what ifs" afterward.
2. The allocation strategy guarantees profit - Take 5% profit, 15% taxes, 50% owner pay, and 30% operating expenses from every deposit.
3. Close the knowing-doing gap - Focus on execution over information consumption.
4. Think in decades, not months - Long-term thinking reveals opportunities that short-term focus misses.
5. Seek counsel from achievers, not opinions from everyone - Only take advice from people who have accomplished what you want.

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