The documentary titled "Documentary" has rapidly gained millions of views since its release. The main character, Glenn, is a billionaire who faces a thrilling challenge: using just a pickup truck and $100 to generate a million dollars within three months in an unfamiliar city.

What strategies did he ultimately use to achieve this?

Setting Clear Goals with Action Plans

Breaking down detailed objectives often proves more fruitful than acting impulsively. Glenn serves as a prime example of how to devise effective plans.

1. Wealth Accumulation Phase:

   In the initial week, Glenn focused on researching local prices while aiming to earn $3,300 for his monthly living expenses. During the second and third weeks, he resold used cars and sold old tires at a junkyard to cover living costs and prepare for future team-building expenses.

2. Wealth Doubling Phase:

   Weeks four and five involved consulting experts and investigating viable projects while assembling a preliminary operations team. In weeks six and seven, he renovated multiple properties, raising their prices to sell them for startup capital.

3. Wealth Growth Phase:

   During weeks eight to ten, Glenn identified barbecue and craft beer ventures, seeking suppliers and chefs while securing a restaurant location. In weeks eleven and twelve, he prepared to participate in the local rib festival, aiming for a top spot to enhance his restaurant brand's visibility.

In the final days, the restaurant began trial operations, generating revenue from three primary sources:

• Daily restaurant sales
• Nationwide beer brand distribution
• Sales of barbecue accessories, including sauces

Throughout the next three months, Glenn moved closer to his goal according to his timeline, adapting to unforeseen challenges while maintaining awareness of his progress.

Thus, having a clear goal and breaking it down into manageable stages is essential for effective action.

Harvard University once conducted a notable social experiment called "Elite Life," which tracked a group of individuals who graduated in 1970 under similar conditions. Twenty-five years later, those with clear life plans predominantly became leaders in various fields, while those without such plans often faced dissatisfaction and some relied on social welfare due to unemployment.

Wealth accumulation follows this same principle. A well-defined plan provides direction, enabling individuals to achieve their desired outcomes swiftly. Progress is marked by pursuing goals, whereas aimlessness leads to stagnation.

Prioritizing Health

In the early stages of wealth accumulation, Glenn made a critical error by opting to sleep in his car to save money. This decision exacerbated his cervical spondylosis and led to frequent morning nausea due to poor sleep quality. To recuperate, he sought medical attention, which disrupted his plans and drained startup capital. This experience underscores that neglecting health can lead to significant costs.

Japanese author Haruki Murakami once noted, "The body is the temple of every person; it should be strong, beautiful, and clean." Accumulating wealth requires physical stamina to navigate daily activities and unexpected challenges. A healthy body is essential for tackling life's demands.

When feeling fatigued, it's important to rest; after all, the most valuable asset we possess is our health.

Leveraging Familiarity

Throughout Glenn's entrepreneurial journey, he displayed a common trait among successful entrepreneurs: a preference for familiar endeavors over untested innovations. His ventures in used cars, tires, and real estate were areas he understood well.

By engaging in familiar transactions, Glenn steadily built his startup capital. A respected investor once remarked, "Chasing after innovation blindly is fraught with risks. Innovation must be validated through investment to be worthwhile."

Individuals who pursue innovation without a solid foundation may face significant setbacks. A friend of mine invested heavily in developing a new type of handcart, dedicating a year to perfecting its design. However, just three months after its launch, cheaper imitations flooded the market, jeopardizing his business despite having secured patents.

While innovative ideas are valuable, pursuing them without caution can lead to substantial losses. In resource-constrained environments, it is wise to focus on familiar fields before scaling successful endeavors to accumulate wealth effectively.

Making Strategic Concessions

Glenn expressed a sentiment I wholeheartedly agree with: "Sometimes, losing a small battle is necessary to win the war." In negotiations for minor projects, such as used car sales and real estate deals, he exhibited a willingness to make strategic concessions.

He later reflected, "The capital accumulated from small projects ultimately supports the larger initiative (Little Soldier BBQ)." His experience suggests that investing time and energy in high-return opportunities is preferable to getting bogged down in trivial matters.

A friend of mine shared insights from a decade of entrepreneurship involving two businesses. One, a short video venture, consumed 20% of his energy but yielded 80% of his profits. Conversely, a factory business required 80% of his energy yet generated only 20% of the returns. He regretted overinvesting in the less profitable factory business, which entailed complex operations and minimal margins.

In hindsight, if he had focused on the more lucrative video business while delegating or minimizing involvement in the factory, he could have significantly increased his wealth without exhausting himself.

An ancient Chinese proverb states, "When the taste is strong, reduce it by three points; when the path is narrow, leave a step for others." Making concessions is a valuable skill that can broaden perspectives and enhance overall life experience.

The Gradual Path to Wealth

Despite numerous obstacles, Glenn chose not to gamble on lottery tickets as many do. Reflecting on his entrepreneurial journey, he steadily approached his wealth goals through careful planning.

His experience highlights a fundamental principle: avoid the "get-rich-quick" mindset. In 2002, American contractor Jack Whittaker won a $314.9 million lottery prize, only to face devastating personal losses and regretted his windfall.

A well-known entrepreneur explained, "True wealth is found in the journey of wealth creation. Without a sustainable approach, even overnight success can vanish just as quickly."

Effective wealth accumulation lays the groundwork for ongoing financial success, while speculation remains a low-probability endeavor without comprehensive industry knowledge.