Steve Harvey is the true definition of a rags-to-riches story. The 59-year-old comedian, television host, actor and author was homeless for three years before catching his big break on Showtime at the Apollo in the late 1980s. Now, he is a successful multi-millionaire who has made quite a name for himself in a variety of different disciplines. His success undoubtedly has motivated many other people to follow in his footsteps, and in a video posted earlier this year, he shows people how they can be a millionaire just like him.
Many people spend their entire lives trying to come up with a "million dollar idea" that will make them rich. But a majority of the time, people end up actually losing both their time and their money trying to come up with these kinds of ideas. But according to Steve Harvey, you don't have to come up with a million dollar idea in order to become a millionaire. All you need to do is apply what he calls the "ten by ten theory," which he explains in this video.
(Getty Images for The Steve Harvey Foundation)
In the "ten by ten" theory, you don't have to be the next Bill Gates or Mark Zuckerberg and come up with a groundbreaking invention to make your money. According to theory, says Harvey, "you don't need a million dollar idea, you need a ten dollar idea." It doesn't matter what you do to make those ten dollars, according to Harvey. Now, all you have to do is take whatever you did to make that ten dollars, whether it was mowing someone's lawn, washing someone's car, etc, repeat that action ten times, after which you'll have $100. Repeat whatever it took you to make $100 ten times, and then you'll have $1000. After that, repeat what it took you to get $1000 ten times, and then you'll have $10,000. And then after that, take whatever it took you to make that $10,000, and then you'll have $100,000.
Once you make that $100,000, according to Harvey, that's when you can hire people in order for you to multiply that money to make that $1 million. He admits that he knows that it sounds hard, but at the end of the day, that's really what it takes for you to be a millionaire; hard work.
