Heard a keynote speaker at the EO event today say that he was multi-millionaire when he was 28.    

So,   this actually pops a question – how do you define multi-millionaire. 

For example,  if you start valuating your business at 3 or 4 times top line or even bottom line –and that is contingent based on exit – I would then qualify to be a multi-millionaire.  But, reality is, that I don’t think of myself as a multi-millionaire – I’m not.  The bottom line is  that 95% of profits is getting re-invested into the business.  So, my question is – next time someone says they are a multi-millionaire – lets ask a simple questions – “How do you calculate that?”   In fact, better question would be: please show me your balance sheet, and please show me liquidity.   To me, if someone has a multi-million dollar balance sheet, AND they are ‘liquid’ – then, in my eyes, they are then ‘multi-millionaires’ – but otherwise – they are ‘potential’ multi-millionaires.  Potential means that you could easily end up bankrupt as you could ‘multi-millionaire’.   So, lets keep it real people.   I have a multi-million dollar business BUT I’m not a multi-millionaire.  Until that business is liquid – and the money is in bonds or sitting somewhere like Switzerland – you are just a guy with a dream – and payroll, and overheads and risk.   Lets not spin things to sound cool.