Can You Still Build Wealth? 4 Key Signs of Success in Today’s World | Ed Mylett (Archived Episode)
Ed Mylett discusses building wealth and success through identity transformation, intentional living, and relentless personal development. He emphasizes that true confidence comes from keeping promises to oneself, leveraging reasons to drive behavior, and maintaining a state of blissful dissatisfaction that fuels continued growth without sacrificing present gratitude.
Summary
Ed Mylett shares his journey from a shy, undersized kid from a chaotic home to a successful entrepreneur and speaker, explaining how he overcame identity limitations through recognizing natural giftedness and linking those gifts to winning. He argues that identity functions like a thermostat—once set, external circumstances regulate back to that internal set point—and can be shifted through association with successful people, short bursts of achievement, and building self-confidence through keeping promises to oneself.
Mylett introduces the concept of "one more"—doing an extra rep, making an extra call, spending one more moment with loved ones—as a foundational principle for building wealth and success. He recounts a pivotal encounter with Dr. Wayne Dyer at age 28 where he learned to attach his worth and confidence not to external skills or abilities (which are fleeting) but to his intentions, specifically the intention to serve and help others.
The transcript covers his revolutionary approach to time management, where he divides each 24-hour day into four six-hour segments, effectively creating 21 days per week instead of seven. This compression of time creates urgency and accountability, fundamentally changing how he measures productivity and achievement.
Mylett extensively discusses the power of reasons in driving behavior change. He shares a story about a cardiologist who linked his fitness habits not to abstract health goals but to specific emotional futures—being present at his daughter's wedding and his son's high school graduation. He argues that all achievers are driven by either childhood trauma or the awareness of mortality, and successful people link their goals to people they love rather than abstract achievements.
On building habits and confidence, Mylett explains that self-confidence is actually self-trust built through consistently keeping small promises to oneself. He details his morning routine—hydration, cold exposure, prayer, meditation, 30 minutes without touching a phone, and working out—as the foundation for controlling his state and building identity.
He discusses state change through physical anchors, where heightened emotional states are linked to physical triggers (like his finger snap) that can later recreate that state on demand. This principle applies to meditation, sports performance, and business leadership.
Mylett introduces the concept of "blissful dissatisfaction"—celebrating wins and feeling gratitude for current blessings while simultaneously maintaining hunger for growth and improvement. He argues there's no correlation between constant pain and maintained ambition, and that cheating oneself out of dopamine hits actually reduces future drive.
The conversation touches on how successful people pull forward their best version of themselves under pressure through practiced state changes, using examples from athletes like Kobe Bryant and Tom Brady who use verbal or physical triggers to access peak performance states.
Mylett reflects on the death of Kobe Bryant and uses it to illustrate the profound power of "one more"—one more conversation, one more moment with family—emphasizing mortality awareness as a driver of intentional living. He argues that beginning with the end in mind fundamentally changes how we value relationships and time.
About this episode
<p>You know you’re not doing everything you want or should be doing to succeed. Maybe you fall short 50% of the time, but the kids are at home, work is crazy, and relationships are hard. It feels like there’s never enough time to focus on the things that will get you closer to the success you dream of. You're up early and going to bed late. Any “free” time you have probably goes to doing laundry, binge watching your favorite series, or catching up on sleep.</p><p><br /></p><p>Ed Mylett has built his identity up from being a Division I baseball player bound for the major leagues, to becoming a CEO and now being on Forbes 50 Wealthiest Under 50 List. His perspective on intention and what it takes to become successful at the highest level are about stacking the right habits and using every resource you have to build from where you are.</p><p><br /></p><p>If your days feel out of control, and you are living in a constant state of anxiety and fear this video is for you. Learn how to stack your self-confidence and see things a little differently. The signs for you becoming successful starts with mindset and intention.</p><p><br /></p><p>[Original air date: 10-6-22].</p><p><br /></p><p><strong>SHOW NOTES:</strong></p><p>0:00 | Introduction to Ed Mylett</p><p>0:20 | Don’t Set Goals, Focus On This</p><p>19:43 | You Learn to Master Time</p><p>37:47 | Do This to Build Your Skill Set</p><p>48:52 | You Can’t Be Average</p><p><br /></p><p><strong>CHECK OUT OUR SPONSORS</strong></p><p><strong>Range Rover: </strong>Explore the Range Rover Sport at <a href="https://landroverusa.com/" target="_blank"> https://landroverUSA.com</a></p><p><strong>Miro: </strong>Bring your teams to Miro’s revolutionary Innovation Workspace and be faster from idea to outcome at <a href="https://miro.com/" target="_blank">https://miro.com</a>.</p><p><strong>Found Banking:</strong> Stop getting lost in countless finance apps and try Found for free at <a href="https://found.com/impact" target="_blank">https://found.com/impact</a>.</p><p><strong>Netsuite: </strong>Download the CFO’s Guide to AI and Machine Learning for free at <a href="https://netsuite.com/theory" target="_blank">https://netsuite.com/theory</a></p><p><strong>Shopify: </strong>Sign up for your one-dollar-per-month trial period at <a href="https://shopify.com/impact" target="_blank">https://shopify.com/impact</a></p><p><strong>Factor: </strong> Get 50% off your first box plus 20% off your next month while your subscription is active at <a href="https://factormeals.com/impacttheory50" target="_blank">https://factormeals.com/impacttheory50</a> with code impacttheory50.</p><p><br /></p><p><strong>Follow Ed Mylett:</strong></p><p>Website: <a href="https://www.edmylett.com/" target="_blank">https://www.edmylett.com/</a></p><p>YouTube: <a href="https://www.youtube.com/channel/UCIprGZAdzn3ZqgLmDuibYcw" target="_blank">https://www.youtube.com/channel/UCIprGZAdzn3ZqgLmDuibYcw</a></p><p>Facebook:https://www.facebook.com/EdMylettFanPage </p><p>Twitter: <a href="https://twitter.com/EdMylett" target="_blank">https://twitter.com/EdMylett</a></p><p>Instagram: <a href="https://www.instagram.com/EdMylett/" target="_blank">https://www.instagram.com/EdMylett/</a></p><p>Podcast: <a href="https://www.edmylett.com/podcasts/" target="_blank">https://www.edmylett.com/podcasts/</a></p><p><br /></p><p><strong>What's up, everybody?</strong> <strong>It's Tom Bilyeu here:</strong></p><p><br /></p><p>If you want my help...</p><ul> <li>STARTING a business: <a href="https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show" target="_blank">join me here at ZERO TO FOUNDER</a> </li> <li>SCALING a business:<strong> </strong><a href="https://tombilyeu.com/call" target="_blank">see if you qualify here.</a> </li> <li><br /></li> </ul><p>Get my battle-tested strategies and insights delivered weekly to your inbox:<strong> </strong><a href="https://tombilyeu.com/" target="_blank">sign up here.</a></p><p><br /></p><p><strong>If you're serious about leveling up your life, I urge you to check out my new podcast,</strong><a href="https://open.spotify.com/show/47VE90Cittmo6TGGFqg2xf" target="_blank"> <strong>Tom Bilyeu’s Mindset Playbook</strong></a> —a goldmine of my most impactful episodes on mindset, business, and health. 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Key Insights
- Mylett argues that identity functions like a thermostat—once set at a certain level, external circumstances will naturally regulate back to that internal set point, making identity the invisible governor that determines actual life outcomes regardless of conscious effort.
- He claims that self-confidence is fundamentally self-trust built through the consistent practice of keeping small promises to oneself, and that most people lack confidence not from inability but from broken self-agreements they don't acknowledge.
- Mylett asserts that attaching worth and identity to external skills or abilities is dangerous because these are fleeting, and instead recommends anchoring confidence to intentions (the intention to serve, help, and give) which are never lacking even when abilities temporarily are.
- He argues that all human motivation derives from two sources: childhood experiences and awareness of mortality, and that successful people link their achievements to these core drivers rather than to abstract goals.
- Mylett proposes that the 24-hour day is an outdated, stupid measurement of time, and by dividing each day into four six-hour segments, he creates 21 days per week, fundamentally increasing productivity and creating urgency that changes how the world responds to him.
- He contends that there is no correlation between constant self-criticism and maintained ambition, and that cheating oneself out of celebrating wins actually reduces future drive by depleting dopamine-driven motivation systems.
- Mylett claims that proximity and association with successful people automatically adjusts one's internal thermostat upward through repeated exposure, which explains the principle that people become an average of those they spend time with.
- He argues that state change is the definition of everything worth doing, and that emotional states can be permanently linked to physical triggers through repetition, allowing people to access peak performance states on demand.
- Mylett asserts that the current version of a person is perfect for the life they've produced, but insufficient for the life they want, making continuous hunger for growth not arrogance but necessity.
- He claims that successful people distinguish themselves not by lacking weaker versions of themselves but by their ability to pull forward their best version precisely when circumstances demand it most, through practiced state management.
- Mylett argues that work is not separate from personal development but is itself expansion of self, and that refusing to work or invest energy at work actually cheats one's family and relationships of the energy, ideas, and vibrational frequency that comes from crushing professional goals.
- He contends that the most inspiring people are not those excellent at something but those overcoming fear to attempt something difficult, because overcoming resistance resonates more powerfully than natural ability.
Topics
Transcript
You are perfect as you exist right now, but that version of you isn't sufficient next year. You've got to be crazy hungry crisis to get to that next version of you. I want the data. I want the input. I want the information. I want the feedback to get to the next version of me, regardless of how it emotionally makes me feel. I'm like driven by that. Without that information, why am I living? Walk me through your baseball career ends. I know that your dad and you are now, you said he's your best friend. He's my best friend. Growing up, alcoholic father. Correct. You said, I think you were 14 or 15. That's right. And then…
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