for people who are poor it's because

they actually don't see reality for what

it is because the way they see reality

they see making money to be impossible

or incredibly difficult or it's only for

a certain select people not for them

right it's just because they I think you

gotta have a dream the school of

greatness

I feel like a lot of society keeps

people kind of Trapped In This broke

mindset it's hard to kind of get ahead

right because of people investing in

things when they don't have money so

they're in debt and they kind of stay in

debt

what is necessary for people to break

the broke mindset that Society has kind

of Trapped people in that keeps them

poor

so I think um like people have two sets

of resources right that they allocate

that they've got time they've got money

yeah and so if you look at someone's

bank statement and you look at their

calendar you know what their life is and

you can also predict whether life is

going to be in x amount of years right

and so if someone wants to change what

their life is going to look like you

have to reallocate where you're

investing the resources that you have

and so from a Time perspective people

who are poor in my opinion spend a lot

of time not doing stuff and that sounds

terrible to say but like at the base

level they're distracted they're not

doing the right stuff right well I was I

would even say not doing anything just

distracting them right playing video

games Netflix Etc you know all that

stuff right so they've got there's like

the basis like they don't do anything

they're purely distracting themselves

from their current state which is hard

because it's hard to confront reality if

you're like not happy it's easier to

just distract yourself right now the

level above that is you've got people

who are operating they are working every

day but they're operating in low

leverage opportunity right so they're

they're doing things that do not give

them a lot of return on their time right

and so it's like I could work it doesn't

matter how many hours I work at

McDonald's I like it's very very

difficult to become wealthy there right

just near impossible right

um versus like you could

buy a building for 10 million dollars

and then sell to somebody else for 11

you know for 11 million dollars just get

the contract and make a million dollars

on the exchange

super high leverage right from a Time

perspective which is crazy for somebody

who doesn't have money to even

contemplate something like that but the

only way that that happened and that

required no money is skill right and so

like that's an example of like it didn't

require money to make that money that's

skill that's required to do that and so

first is the time right people are not

doing stuff with the time that they have

or they're doing low leverage activities

with the time they have and then they're

not trying to increase their output per

unit time which means investing in their

skill set so like one of the easiest

ways to gain leverage on your time in

and when I say leverage just for

everybody like Leverage is the

difference between inputs and outputs in

a system so

um you know archimedia said if you give

me a lever long enough I can move the

world and so the same degree if you have

enough skills you can do anything right

and so skills give you leverage on your

time so you get more out of each unit of

time so if I'm a master cold caller I

will get more sales and calls booked for

the same unit of time that somebody who

sucks at it same time more output right

because they developed a skill at a

masterful level 100 yeah and so when

people are allocating their time they're

not by percentage they're they're kind

of like consuming their time rather than

investing their time so they're either

doing nothing

or they're consuming the time rather

than putting time into getting higher

Returns on their time which is education

right and so education you can have from

like the conceptual learnings watching

stuff like this

um or and or the actual doing right and

so you know you learn taking action 100

failing messing up you know feeling like

an embarrassment and reactions yeah the

first thousand uh cold calls you make

the first thousand cold emails you do

the first thousand doors you knock on

the first thousand you know what like

you'll learn more from that than you'll

learn from every single book you read up

to that point on the concept like you'll

learn right

um and so people don't allocate nearly

enough time to that in the beginning and

so I think one of the things that the

formal education system did really well

that people poo poo on it is the idea of

going into debt to gain education is

something that fundamentally makes sense

yes but it's got to be the right

education you can make you money you got

to get a return on it yes that's that's

the issue right you have to get a return

on it because like the idea of borrowing

from a future self that can make more

money to pay for the thing that you're

getting this skill for makes total sense

I think Elon was saying something about

how neuralink in the future it's going

to be such a competitive advantage that

they could price it at whatever they

want because once you have it you'll be

so much more able than anyone who

doesn't have it that you could so easily

pay off the price of the thing that's

how it should work conceptually right

crazy so education is supposed to work

yes and so um I like this is the

simplest example that I have so A friend

of mine has a 17 year old daughter she

got a job at a bowling alley and she

makes minimum wage and

he said why don't you become a

phlebotomist she was like well I don't

want to spend the money he's like it's

500 bucks and it's a two-day

certification and then after you have

that you make 25 an hour so she didn't

have the money now she could save it to

get the 500 right or she could take a

loan for the 500 bucks and pay back in a

week right right because she has higher

earning capacity and so it was like she

could she could either save for eight

weeks right from her her bowling alley

to pay the 500 or she could take a loan

for the 500 do the two days and then pay

it off in a week so at that one week she

now has seven more weeks of earning

capacity this is a micro example right

seven weeks of earning capacity at her

new level and she'd be net positive on

the next seven weeks of earnings right

and so that's just a micro example of

like what skill investing does

um and so that because I a lot of us

talk about like you got to get educated

you got to learn stuff and like you

learn stuff by doing it and a lot of

times you pay for that education or

access to people who can teach you those

skills because a lot of people aren't

going to give it to you for free that

makes sense it's okay like it took them

time to learn the thing and they

compressed that time to give it to you

so I mean that's why I'm like educate if

there's one thing that's my like life's

missions education and so I was telling

my coaching students last night

um on a call that I have with them that

I have multiple coaches that someone is

asking about mentors like how do you

find mentors how often you stay in touch

with them and I was like listen when I

was broke whatever it was 15 years ago

just getting started in this space

I was lucky enough that I had a couple

local mentors in Columbus Ohio that kind

of had pity on me but they saw that I

had this hunger this desire I was like

I'll do whatever you tell me to do yeah

and then I came back two weeks later and

I was like I did it here's the results

here's where I failed and that's a fuel

for mentors to be like I gave you wisdom

you took action you got results I'll

give you some more feedback but if you

just keep asking and you don't act yeah

we talked about this with a mutual

friend we have it's frustrating for a

mentor they don't want to give you that

time no and I told them I go this is why

I pay mentors you know there's a there's

a big guy in media that has a massive

business that I I message him I'm an

acquaintance with him I said hey I would

love to pay you for some coaching he

said I'll just do it for you for free

for 30 minutes

now I want to pay him because I want to

be able to do it more frequently right

right he said I'll give it to you for 30

minutes because he likes me we're

friendly but I know I can't call upon

him for 30 minutes every week so now

I'll go back in six months and say I

take action on everything you said in

that 30 minutes here's our results can

we do another call yeah and that's kind

of like what you can expect with a

mentor is that type of opportunity

unless you have a serious Bond and they

just want to give her their time

but investing in it like you said is so

much more powerful and getting that

speed of information in my opinion

totally the single highest return on

investment thing I've ever done and not

to sound right here but I just like

using scenarios like if I had taken all

the money that I had spent on coaching

mentorships courses workshops seminars

and put that in the S P 500 when I uh

you know 10 years ago right

the amount that I would have right now

is inconsequential compared to what I

currently have and it's because I

invested in something different so

rather than investing in the S P 500 I

invested in the SME 500 so I took all of

the excess cash that I had every single

month and rather than saying like oh I'm

at a dollar cost average you know long

term I wait four years whatever

um I was like I just don't make enough

money so like I could be the Millionaire

Next Door who saves every penny doesn't

go to Starbucks for my entire life and

have two million dollars when I'm old or

eight you know whatever the last 10

years of my life right and literally

enjoy nothing during that period of time

that doesn't sound like it's not a trade

I wanted to make and so I had a belief

that I know I I will work hard and if

I'm given the right tools I will be able

to implement them and so I took all my

extra money and this is kind of you know

a lot of people might not necessarily

agree with me on this but it worked for

me so I put all of every dollar I had

even went into debt

to get access to communities and mentors

and coaching programs and and

masterminds yes and those were the

biggest Gifts of all and it wasn't even

just in this like the biggest gifts I

got from those wasn't even the education

but it was the perspectives on reality

it was people

disproving things that I thought to be

true so there I was like this is the way

the world is and they're like that's

false and my whole Paradigm shifted

because I just I I had distortions of

reality I thought reality was different

than it was and so right now for people

who are poor it's because they actually

don't see reality for what it is because

the way they see reality they see making

money to be impossible or incredibly

difficult or it's only for a certain

select people not for them right it's

just because they literally cannot see

it and so I'm trying to think of an

example of one like you can see

something that you know an easier

example is like kids and parents right

like a kid thinks the world is a certain

way and the parents like you just

haven't seen enough stuff yet and so

you know as you level up in The

Entrepreneur Space there's also just

more levels of that where other people

are like this is the perspective you

need to have and you're like no way

that's possible and so that's where

those rooms

um gave me the highest Roi the other

skills because there's so many people

there that are trying to learn the same

things they already said hey get this

program read this book and so they

helped sift through the amounts of

information that's out there because I

only have one resource which is time at

that time right and so it's like okay

I'll spend it but where do I spend it

and they're like okay if you want to

learn real estate these are the top

three guys you can join this Facebook

group get into this guy's Community he

is a coaching program that helps you do

wholesaling this guy's of course brother

does airbnbs this guy you know like and

so it's like which one do I choose the

answer for everybody who's curious let's

do them all because you're just like

you're not like people like which one

should I do I'm like you'll you're not

gonna be poor by learning more right

right and then it's not like you have a

finite capacity to learn the more you

learn the better you get at learning

right and then the more uh lines and

synergies you find between different uh

skill sets and opportunities the more

dangerous you become 100 you just learn

cold calling yeah but you didn't also

learn you know copywriting and email

marketing or speaking on stage you know

it's the combination of multiple skills

that make your earning power so much

greater I get I'm literally getting

Goosebumps oh dude I love it uh it's the

it's the the compound and so I have this

example I break down Jay-Z right and so

if you look at Jay-Z in the beginning

like he had you know he probably had a

natural proclivity for rhyming and beat

a rhythm whatever right so that was his

first like kind of skill you probably

practice that a little bit because he

was into it right and then he started

rapping right so that's just first level

skill and then he learned you know

writing lyrics and it's like okay so

that's another saying right exactly then

you learned producing and then he

learned marketing and then he learned

performing on stages or something yes

and then he learned how to sign other

people to his how to start a label and

he started looking and so with each of

these skills it wasn't one plus one it

was like one plus one plus one equals

ten right and so like in a in a formal

world like the world that's not rap like

if someone's good at math they can learn

accounting or bookkeeping first right

it's like okay that's a level one skill

then you learn accounting okay now

you're making more and then you learn

how Insurance works and you're like oh

okay now you can start to see this

person evolve and then you learn how tax

and tax efficiencies work and you're

like oh and then you learn how to how to

package and sell businesses and

negotiate those deals with you know

private equity and things like that all

of a sudden that's a CFO that's somebody

who's making multiple million dollars a

year but it's the same basic few skills

that stack on top of each other and get

disproportionate Returns on all the

prior skills with each new additional

skill yes and so the idea is not like

people ask their own question they're

like which course should I buy which

program should I do it's yes yes yeah

you want like because each one of them

you will learn things and there's going

to be either different ways that

someone's teaching they'll have

different communities they'll have

different beliefs you'll learn from all

of them and this is something I think

I'll hear this sometimes when people say

well I just invested in this program I

don't know if I have the time to invest

in this next course or read this book or

whatever it is

and you got to think of like

I believe you know I'm doing five six

interviews a week where I'm constantly

learning yeah you know every time you

come on I learn something new it's not

like there are things that confirm what

I already know but I'm also learning new

things it's not like I've said after 10

years of doing this

I don't need to learn anymore

I don't have any more time to learn it's

so important for me to develop as a

human being and that's why I'm

constantly learning I you know people

don't need to sit down and do interviews

with people all day long they can learn

in different ways but I don't think the

investment ever ends and how much you

can learn and it compounds compounds

that's the best part what would you say

are the three main skills for someone to

want to have the potential of being a

six or seven figure earner

that they need to start learning now so

2023 they have that potential this is my

opinion there's three main skills in

business in general you gotta learn how

to sell gotta learn how to build you can

learn learn how to lead

so you got to learn how to get people to

give you money for Stuff got to have the

stuff to sell them and then you gotta

have people that work on your side to

help deliver on those other two if you

can do those three things you're

unstoppable and if you do one of those

three things you can make as much like

you can still make a ton of money but if

you can you can do all three you're

unbeatable sell build like building a

team building building so that would be

on the lead side the building is like

the products and services that you have

so you have to figure out a way to

deliver value to somebody to develop a

program a product a service that you can

package and sell and people are like

well how do I do that all you have to do

there's

this is the perspective thing we were

saying earlier it's like I don't know

where their opportunity is and people

who are entrepreneurship opportunity

everywhere it's like and my biggest

regret in life is that I can't live

multiple lives because there's so many

things I want to do but it's because all

you have to do is look for problems you

look for things that people hate you

look for inefficiencies you just look

for things that are nuisances like what

are things that people do every day that

they hate doing like and a big one a big

misnomer I think is that people think

they need to have a new thing you can

start a cleaning business become a

billionaire you can start a lawn care

business become a billionaire you can

start a roofing business become a

millionaire like there's clear problems

like all you have to do is just do what

everyone else is doing learn how to sell

learn how to deliver consistently and

learn how to lead if you do those three

things you can do just as well as

everyone else and just do it better I

was in the elevator this morning uh

coming here and I have this this cat

sitter that uh used to watch my cats

right

and um but he mostly Works in a

different building that I used to live

in now I'm in a new building he was in

the new building because he had some

other dogs he's a dog he's a dog like

Walker right yeah but I asked him to

watch my cats one time and

um

he literally for 30 seconds in the other

day I was like hey man good to see you

and uh I go dude how much you make it

now because I see him hustling I see him

like walking around with all these dogs

I'm like and his prices went up over the

last few years like when I first had him

watch my cats was like 25 bucks now it's

like 40 bucks for a session I'm like

I go dude what are you making like five

six hundred bucks a day he goes I go a

thousand

I got two thousand he goes I got three

yes around three k a day I go what

walking dogs and I go he goes now it's

seven days a week It's a Grind yeah I've

got three employees now who are like

just walking walking dogs but he's like

the go-to guy in Beverly Hills

and he's like independent he's not with

some you know you know Big Dog Walking

Company or something but three grand a

day walking dogs I go you can there's a

need especially in this community where

people are busy but they love their dogs

and they have money to spend on their

dogs

and he is providing a service that's a

problem three grand a day man that's

crazy I I love this exam business I need

to be walking dogs you know I love this

example because it's perfect because

everyone can understand it's like what's

the problem that they're solving it's

like people don't have time to work

their dogs whenever you're looking at

any any problems time is one of the

easiest ones to solve is that people

don't take the time to do something

right it takes too long you want to do

it faster uh Jason flatlin said the

easiest business model in the world is

find what someone else is doing do it

half the time it's just you can do it

and you can look at any business that

exists and do that right and so it's

like what did he have to do he had to

learn how to sell which means he had to

get people to give him money for the

dogs which is part of that's marketing

but I'm just wrapping that right

promotion getting people to give you

money you had to learn how to deliver

which is like okay what are the best

routes to walk around how do I manage 17

leashes at the same time like you had to

figure all that stuff out right and then

you don't learn how to lead so he has

two employees or three employees he's

always got a place but before he was

like exhausted but now he's figuring out

how to build and lead and what'll happen

is he'll stop walking dogs

right exactly and so it's like that's

like such a that's such a perfect

microcosm of the three skills being put

to you use now it's taking him years to

do it it didn't happen overnight he had

to build his brand he had to you know

show that he could deliver the value of

the product consistently and all these

different things he had to be

communicating and yeah you know be

reliable all these things and he was

like I'm doing it seven days a week yeah

so he has no life right so it's like an

extreme yeah but it's possible and uh so

the three skills I heard you say is sell

build and Lead

you can

never get enough training on how to lead

yourself and how to lead others because

there's so much of a world inside of

each one of us that has to learn how to

overcome insecurities fears uh traumas

triggers that will make us poor leaders

of ourselves and of others so that

people respect and trust us so leading

skills is probably the hardest

and it's also the one that's almost a

metascale in that it actually can layer

on top of the other two so if you think

about it like as a hypothetical example

imagine I know how to recruit and lead

people and I don't know anything about

marketing I don't think about sales I

don't know anything about delivery but I

have a vision for what I want to

accomplish a problem that I want to

solve that's meaningful to me and I

think it'll be meaningful to other

people I can compel people I can

persuade them and influence them to want

to work and help me solve this huge

problem together right and so you don't

even like real talk you don't even have

to know how to sell and how to Market

you don't have to know how to build a

product build a service team because if

you can lead you can get all those other

people to do that and leading is also

selling in a sense

if you're a leader your energy is an

enrolling energy your way of being how

you show up how you communicate is

selling you yeah in Your Vision yeah uh

you don't need to know how to sell a

product and get on stage and say buy my

stuff but you need to be able to enroll

people into a vision that they are in

alignment with and I think that that is

one of the hardest skills because people

don't have the belief in themselves a

lot of people don't believe in

themselves they don't love themselves

enough to be enrolling in my opinion and

so they discount and that doubt people

can feel that energy and that doubt yeah

you have to be certain you're not

confident you know what I mean I think

part and so it's easy to say what like

what we just said about the whole

leading thing and like as much as

everyone's like well I'll just jump

straight to Leading

I feel like there's some sort of like

and this is me I could be speaking a

limiting belief of my own so you know

disclaimer right but it is my belief

that there's a certain amount of like

spiritual strength that you gain from

having done stuff right developing

skills developing a skills because

people build confidence with these

skills yeah because you have evidence

results yeah and so people you can you

can enroll someone you can subscribe

someone to your vision and because the

next the first question someone's going

to always ask is why should I listen to

you or why should I follow you

specifically right and unless you have a

solid answer that's not you being crazy

right being like I have done these

things they give me evidence that I can

I can move I can I can move the goal

post further than what we have to done

before because of what I have done

behind me right because the path I've

already walked and so I think like

learning how to sell learning how to

build are the first two skills and then

leading you learn consistently along the

way for the rest of your life what would

you say are the most important habits

someone can develop for themselves on a

daily basis to support their

opportunities for earning more

most of the import most important

lessons that I've learned in my life

have come from doing

and mentors

and so on a day-to-day basis it's

reducing the time between when you wake

up and when you begin working right A

lot of people lollygag and delay and

procrastinating things like that and if

you just think about there's only a

certain amount of time in the day I want

to increase my output per unit of time

as much as possible a lot of people have

these superstitions that they have to do

a certain thing they must do X Y and Z

but all you have to do is talk to a

single mom who has like five kids and no

still start businesses they're not doing

any of that stuff they're waking up and

they're working before their kids are up

and then once their kids go to bed they

work then too right and they're not

doing all the lollygag stuff that you

know you see up trending all over social

media it's like they're working and so

like the single greatest skill in my

opinion is being able to find a a place

that you can shut out external stimuli

and you can focus yes because for me the

singers like the single highest Roi

habit that I have is that for me between

5m and noon I have nothing on my

calendar it is just work no meetings and

then all my meetings happen after noon

this is for the entrepreneur now if

you're if you're like in a job right now

then it's got to be in the morning

before you go to work and in the evening

after you come back from work but like

having that dedicated time and if you're

like well I'm not a morning person fine

then just work late like that's okay

like I've I've got billionaire buddies

who are like oh I wake up at 10 but they

work really late that's their that's

their special time that no one bothers

them it tends to be at the book ends of

the day they're just from my experience

because in the middle of the day you get

pestered and it's hard to get into that

deep focus that really that deep

learning that you get when you really

pour yourself into something yeah and I

think uh I think I saw Layla mention

this on a video clip where she was like

I just wake up and I start working she's

not spending an hour morning routine or

something like that and I think you got

to figure out who you are it's like if

you want to spend an hour or two in the

morning and taking coffee and going for

a walk and working out and kind of like

preparing yourself great I think for me

yeah there is some importance to at some

point in the day setting an intention

either for the day or at night for the

next day great so if you want to get up

from work right away at night totally

how what are the three most important

things or what are the actions you're

gonna take they're going to get you

closer to your vision that next day so

having some 5-10 minutes to have an

intention and then act on it right as

opposed to just reacting to the world

yeah 100 that's what I believe but there

was this one um to consolidate what we

were saying earlier because I like this

it matters a lot to me
um

most skills can be learned decently with

about 20 hours of focused effort 20

hours like the first 20 hours of you

actually doing something you learn the

most you're going to learn about the

thing for if you just consider by

percentage of learning from like you

know nothing to 20 hours in you already

have a really good understanding of the

thing the problem is that most people

will take years to start the first hour

and so that habit that you're

referencing is that my speed at least

now is that you know I've gotten better

at this stuff is that like I try and

detract the time from when I want to

learn something or when I want to start

doing something to starting it as soon

as I can because I just want to start

getting through those 20 hours as fast

as I can yes and so that's just been a

very tangible because it seems like this

amorphous thing but there was a study

that was done there's like in the first

20 hours you can learn almost any skill

playing guitar

running an ad doing a call like you'll

learn more in that first 20 hours than

any other time so it's like then just

get to that 20 hours and don't delay yes

and that's been one of the one of the

most one of the deepest lessons I've had

because it took me four years to learn

how to build a website and it took me

one day to actually learn

crazy because you decided to act on the

learning four years to delay and

procrastinate and say I'm not a tech guy

I'm not a tech person this isn't my kind

of thing I'm a gym guy I'm a local

business owner I should pay somebody to

do this I'm above this kind of thing

like all these stories right and then

one day I sat down on a Sunday morning I

was like I'm gonna learn this thing I

Googled it and you took you know you

just learned it step by step by step and

you know what I set the whole day aside

it took me four hours crazy

it's amazing you'll you'll hear I bet

you've heard this so many times that

people are like I want to launch a

podcast I want to start a YouTube I want

to launch a book yeah and they've been

saying it for years and years and years

when you can literally go on Amazon and

upload a book in an hour if you just

learn the steps it might feel daunting

and over like I don't know how to do

this and how do I link my payments and

create a book and put it up there but

you can create a one-page book and

launch it yeah to at least say you did

it and now you know the steps so it's

not as scary I think so many people are

afraid to launch their thing because

they don't understand how to do it and

they think it's going to take a lot more

time than it actually is you may not be

good at it right away yeah your website

private wasn't perfect yeah but you got

the website up within four hours yeah

and then you can make it better over

time and there's this there because the

the that first hour is you paying down

the fear of uncertainty it's all these

fears of like not being enough what if I

feel stupid because you have felt stupid

when you try to figure something else

out but like if you remember how hard it

was to learn how to tie your shoes when

you were a kid right cause it's like I

have to remember and then this one and

the two bunny ears you know the whole

thing right but like now you can do it

in your sleep and it's it's the same

it's just the emotions we have about

beginning work because the judgments

we're going to put on ourselves about

how we're doing but if we can remove the

Judgment of how we're going to do and

say I assume I'm going to suck and all

I'm doing is I'm going to start pooling

the thread of this 20 hours that's my

only goal is to start sucking that's it

I just want to start sucking rather than

nothing

right you gotta love you gotta love

embarrassing yourself the way I feel

like it these skills that you're going

to learn they're going to bring you a

lot of value long term they're not easy

to start with they're not and so you've

got to be okay with accepting

embarrassment of your own self

um

what's the what's the belief that why is

it so hard for people that haven't made

money let's talk about like the daunting

number for a lot of people just seven

figures which is

it was hard for me to to get over the

hump mentally and psychologically of

like how do I go from

five thousand dollars a month yeah to

ten thousand dollars then ten thousand

to twenty thousand and then how do you

get a business I'm talking about

business owners how do you get it to six

figures and then to the seven figure

Mark as a business owner

what do we over complicate money in our

minds if we've been taught stories as

kids or been taught beliefs about it and

how do we get over

the over complication of making seven

figures as entrepreneurs

I would I agree with you that I think it

gets over complicated and so we just

have to boil it down to the first

principles of the math like what what

math is required to make a million

dollars right like we can either sell

you know a hundred ten thousand dollar

things we can sell a thousand thousand

dollar thing so we can sell and by when

I say things you don't have to price

your product at a thousand dollars

you're just lifetime value if a customer

has to be a thousand dollars right so

just how much somebody's gonna spend

with you over the period of time that

they they buy from you in general right

now for yourself those are products that

might just be the the lifetime value but

if you sell services like the the the

dog guy yeah he probably has people who

stay with him for years and so he has to

add up that total lifetime value as the

number and it's like well how many of

those do I need to sell and then you

just divide by you know to to back into

it and so once you know the math right

so the first is like what is the math to

get to the million and you have to

figure out how many units you're going

to sell so let's just use something

that's um

let's use a thousand dollars because

it's it's an easy one okay a thousand

sales of a thousand bucks exactly so we

have to do a thousand sales now how are

we going to break that down on an annual

basis because thousand sounds like a

huge number well it's about three a day

right like okay well three a days all of

a sudden a lot more minutes yeah and

we're like okay well what creates a sale

so at some point to get I'm gonna take

one step before for six figures for

anybody who's not there it's like you

have to sell and this is again for

business owners entrepreneurs if you

have a job then awesome but like if

you're trying to try to make money it's

you have to sell something to someone

that's it that's all you have to do to

get to six figures to do that

so that's one Avatar one uh one meaning

one channel right one product one

channel that's all that is you add the

fourth piece which is consistency

right that's what goes from six to seven

people and the consistent yeah 100

because then you can tackle all the

emotional or whatever it is that why

you're not being consistent but from a

math perspective we just have to break

down what are the primary actions that

result in the the output right and so if

three sales means that I sell one out of

three people who want to walk or one out

of two people who come for the for the

dog walking okay well then I need six

appointments a day okay how do I get six

appointments a day it's like well I have

six ways that I can get appointments

right I can get appointments from

referrals I get appointments from

Affiliates so I I make a deal with um

the local grooming place for dogs or the

local vet for dogs or my flyers up or

something or the urgent care for dogs or

pet cut like whatever I mean like

there's a million ways right like I get

one of those guys I figure out how to

deal with them and I say I'll give you

the first two months of what they pay me

to you if you just send them to me yes

more money for them and it probably

helps their customers because it's a

need that they can't solve but they have

the same Avatar cool so you got

referrals you got Affiliates you've got

uh you could just reach out to people

you know just one-on-one like hey I've

got my my thing how like do you need

help with your dog you can reach out to

people you don't know which you can do

through

Post-it notes cold calls emails door

knocking like they're at Flyers yeah all

of those things are ways that you can

reach out to people you don't know

one-on-one you can make content about

how doggark is amazing and ways to ways

to walk your dog better uh ways to take

care of a dog and the whole point of

that is to get people to feel

comfortable with you specifically in

your brand that you're that you will do

a better job taking care of their dog

than me very well exactly right you want

people to feel guilty that they're not

doing all this stuff for their dog and

then they would start you know then you

start get you feel inbound right and

then finally you have ads right you pay

you have unpaid ads

um to get to get new new appointments

booked right and so those are the six

primary things you can do to get

customers right so it's like okay I need

six appointments a day I have those six

different ways that I can get them which

of them do I feel most comfortable with

because you can you can win at all of

them right it could be soliciting your

customers to the referrals it could be

getting the Affiliates of relationships

set up it could be the one-on-one DMS it

could be the ads it could be the content

any of those six would work right

and so we just have to pick yeah which

one you want and so then you just

reverse engineer those actions of

because even one step after

obviously this is something I do a lot

so if you reverse engineer the affiliate

thing right so how do you get Affiliates

it's like well I need to reach out to

100 people a day so you'd still use one

of the other methods so cold outbound uh

warm outbound content or ads right to

get that those Affiliates and say okay

well if I reach out to 100 Affiliates a

day that are in my in my local region

um to see if they will partner with me

and I can create some sort of

relationship if I do that every day

maybe I'll get two of those referral

Partners a week and if each of those

referral Partners we can get me 10

appointments then for me to get my six

appointments today it's 180 appointments

uh per month if I need 18 Affiliates

right so all I got to do is get 18

Affiliates but then if you're thinking

right now you're like well wait but I

would be able to get 18 Affiliates in

probably like a month or two and the

answer is you're right but people just

don't think through the math of how to

do it because if we're being real

there's no reason you should cap your

business at a million right instead of

the same degree when we ask the question

like how do I make a million dollar

business you also think in increments

that somebody who's trying to make a

million dollars thinks in right because

I got asked on this Tick Tock so they

gave me this prompt they said hey Alex

how would you make six figures a year

that was the question and my immediate

response was I would sell something for

100 and then figure out what I would do

for the rest of the year yeah and so

it's like these people think about money

differently you know what I mean and so

if you think about how do I build this

thing into like a hundred million like

and you have to think of a number that's

as high as you can fathom right if you

can't fathom 100 million don't think

that but like

as high as you can mathematically fathom

so it might be 10 million dollars okay

think like how many dogs would I need to

walk and you just reverse the math into

what you need right and then people need

to hire and yeah exactly and then you

start and then you start with the inputs

because in the beginning the only inputs

you have is going to be the content it's

gonna be running the ad it's gonna be

doing the work it's going to do the

reach outs that says those are the

inputs and then everything else is going

to stem from that and then what will

happen is if you have that the

advertising machine on the front end to

bring people in
the bottleneck becomes your leading

rather than the selling and the product

you're eating right and so then the

focus then becomes how do I use that

same if you really want to get deep on

those how do I use that same skill set

of advertising and then shift it to my

internal because I still have to do warm

retracts I still have to run ads I still

have to make content I still can have

Affiliates or get referrals from my

employees to get more team and so every

business has two funnels you have the

front end funnel to get your customers

and the back in front of the gets your

team and so as you crank this guy you

need to crank this one and then that's

how you can scale these things to the

Moon without stopping right

is it harder to

get leads and sales or harder to build a

powerful team with the right culture

I think they're both hard and both easy

for different people yeah you know what

I mean like Layla naturally is very good

at the back end funnel I mean she's so

good at building culture but she has

this thing that she's kind of spoken

over me from a belief standpoint which

is if you are a really good marketer a

really good salesman a lot of them are

like oh I'm not a good I'm not a good

leader I'm not a good operator not a

good whatever and she's like if you can

sell all those people and influence all

those people you can use that same skill

set and just face internally to your

team it was a nice belief shift for me

or belief breaker for me I was like

she's totally right and so to the point

that you were making earlier like

leading is selling and influencing a lot

of it really comes down to being able to

move people and being able to clearly

communicate what you want

why do you think it's so hard for people

to overcome their limiting beliefs

around money in general

a lot of people were told things about

the world that were not true and they

take them as fact and so they're making

their decision calculus off of something

that is not true and so they're making

conclusions off of false data

and that so that's why they can't see it

because what they're basing their

assumptions on is false right but

believing it for so long yeah so how do

they change that belief when it's been

baked in their psyche for decades yeah I

think that the way that the biggest

beliefs have been broken for me have

been one of two ways reality proves me

wrong

or someone tells me a story and gives me

evidence from their lives like I

remember when I we went to a mastermind

and I we were just starting out I was

not making a ton of money

um and the guy a guy got up there and he

gave his little Spiel and he's like yeah

you know we're making three or four

hundred thousand dollars a month I don't

really know what I'm doing I'm not

really sure I like the business blah

blah and the guy did not seem smart and

you're like how is he doing this and

it's funny you say that because my

actual first thought was if he can do it

I can do it right and so that was like

he threw evidence like he reshaped my

reality it's one of the most momentous

thing I remember Layla and I both had

the same takeaway because she was next

to me when we both saw this guy do this

like we walked out like dude if he can

like we both immediately had the same

conclusion like if he can do it we can

do it and so I think that that's like

how do you you either either have

reality prove you wrong or someone else

is that reality for you where they tell

their story about hey I used to feel the

same way I used to think this thing and

then I will share my story so you don't

have to have the scar yes so you don't

have to give up five years of your life

to learn this lesson I'll just give you

the story so you don't have to have this

car there's certain things I think we

need to learn on our own and fail and

you know and make mistakes on our own

but there's a lot of things we can learn

from other people being the youngest of

four kids I watched you know my older

siblings

fail and succeed in their own ways as a

model and say okay I don't want to make

this same mistake I made other stupid

mistakes but I didn't make certain

mistakes that they had made

and um and able to accelerate that time

from the pain that I was going to feel

by making the same mistakes yeah

um I think you're going to make mistakes

no matter what but I think that's seeing

other people and learning this is why

it's so important to have coaches

mentors people that can can break the

beliefs in you and tell you what you

need to do if you think about human like

the human race does it zoom out because

I think it's a really interesting

concept I was talking to

um Caleb about Gary and I'm a

competitive person yes I like you know

thinking like Oh by the time I'm that

age I'm going to be further I'm gonna

you know what I mean like and it's it's

it's lovingly right and he said this

thing back to me that like it hit me

right and he was like dude Gary didn't

have Gary

right he just had to do it on his own

right and all of these and so the thing

is is like a lot of us and myself

included I get caught up in the like man

these kids have it so easy you know blah

blah blah right YouTube wasn't even

around when I you know

but the thing is if you ask most

entrepreneurs what they want to do with

their lives they say they want to make

an impact on the world they want to make

the world a better place but like making

the world a better place what that looks

like is it being easier for the next

generation and so rather than lamenting

the fact that the guys who are younger

have it easier that was the point yes

that was the like mission accomplished

and so it Reef it reframed how I thought

about being the greatest of all time

because I think a lot of people have

that goal to be the greatest I mean a

lot of people have that goal but the

more I thought about it the more I was

like

I can't have that goal because if I did

my job then I have to have made people

who are after me get there faster than I

got there and so the mark of the success

is that I'm not the greatest of all time

but that other people who come after me

are even better and so it really shifted

my relationship with how I solve future

Generations or sorry past Generations

the guys who are older than me who are

killing it and I used to think oh I'm

gonna I'm gonna I'm gonna beat them and

if I look at my how much I'm worth at

this at this age versus them like I just

doing the math I should be further along

than them by the time I'm their age and

it was this kind of like different

competition rather than this gratitude

for like well of course I'm gonna be

bigger than they are at their age I had

them to help me they didn't have them to

help them and so I'll I'll age up and

we'll be multi-billionaire whatever it

is right and then there's going to be a

young whippersnapper who has need to

help right who had me to help him out

because I'm see you know we have guys

who apply for acquisition.com who are in

their 20s to 100 million a year right

I'm like and that was that wasn't

possible 50 years ago it just wasn't

right right and so we think about like

the human race in General on a macro

perspective right you have like rather

than seeing the people who who are older

than you as the old dogs you have to to

kick off right and biomaids play hard in

the paint don't get me wrong

um and the people the young

whippersnappers behind you as you know

resenting them for the fact that they

got it easier it just flipped the script

for me in terms of like I'm so glad

grateful for these guys who came before

me because they didn't have them right

and then if these guys do eventually

beat me right or or they're further

along than I was at their age rather

than lamenting them to protect my ego

because what it really says is you're

better than I am because if they're

they're if they're making more money at

a younger age than me then it means the

better at business in some way than I

was at that age that's that's just the

fact of business right they're better

than me at that age

and to protect my ego I want to say they

had it easier right but rather than

right what does that do for you if you

protect your ego as opposed to

help others accelerate faster than you

I think it just reframes it and so it

takes the ego away from I need to crush

these guys or I need to poke at why it's

easier for them and instead say like it

being easier for them is my purpose how

can I say that my mission is to document

and show the best practices building

world-class companies and then not be

pumped and I want someone to use the

best practice of building world-class

companies 10 years before I learned them

to accelerate way past and so anyways

that I just that was a frame of

reference that completely shifted The

Narrative for me in terms of competition

I still am pushing as hard as I possibly

can to transform my potential into

reality

um

but it feels it feels different it feels

lighter cool and I like it so anyways I

just want to share because it was a cool

breakthrough that I had recently yeah

you just look a little lighter yeah I'd

say emotionally if it's you lost a

little weight too

it's funny I just had uh Steve Young on

who's a Hall of Fame uh

quarterback in the NFL won multiple

Super Bowls he was just on a couple days

ago and he said back in the late 80s and

I guess it was the 90s Bill Walsh the

coach who was like he said three

generations ahead of every other head

coach at that time he had a a camera guy

with him all the time

documenting his processes and he would

package it into these I guess vsh tapes

and put him in a box and he would give

it to all his assistant coaches and say

I want you to learn these skills

uh his offense was the West Coast Coast

office so it was a far ahead of its time

where most people just running the ball

down you know down the middle

and um
so he gave away everything for free yeah

and he said I want you guys to learn

this and then come and challenge me yeah

you know use my information and come and

people he said years later some coaches

would leave to become head coaches and

they would compete in big games together

sometimes we lose against these other

coaches that he coached yeah and he

loved it and he is still revered as a

leader in the space because he was ahead

of the time because he documented it and

gave away the skills to his other

coaches and I think that's really cool I

mean you're not gonna be able to do this

forever so you might as well leave some

Legacy behind in that respect as well it

puts the game above the player yes

rather than putting the player above the

game yeah and so like I think right now

if Elon had a choice of having somebody

else accomplish all the things that he

is setting out to accomplish and not be

him

my hope my belief from everything that I

have seen and witnessed of Elon is I

think that he would be stoked

and because it's Mission first rather

than like you go first and so like Steve

Young put the game of football and it

consistently being elevated to be played

at a higher level as more important than

him because in three generations no

don't remember him exactly right but the

game will always have his fingerprint

right and so like you can live alone in

that way the same degree in the business

game it's like we honor the game by

playing to our absolute hardest and by

and by doing our best and passing it on

to the next Generation so anyways I love

that stuff that stuff

what is the vision for you now because

when did we first have you on I can't

remember it's a few months back yeah and

we've hung out for dinner a couple times

and I've seen you a few times but

there's there's been like a transition

in you in like three to four months you

know there's been like an evolution

already I'm hearing you say you're

having realizations and recently and

and before it seemed harder right and

now it seems like there's something

that's unlocked inside of you so I'm

curious what is the business Vision that

you have what's the number you want to

reach yeah and personally for the

business all these things yeah I know

you've talked about being a billionaire

it's just gonna take a matter of time

when do you think being a billionaire

will happen for you

um I'd like to do five to seven for a

billion I'd like to hit 10 and 10.

that's uh that's what I would like to do

I think that we can do that math wise

based on kind of the inflow of deals

that we have how like the returns

they're getting

um in general like I think we can do

that

um but the thing that like really drives

me though is

acquisition.com is the wealth machine

that is behind Alex and Layla's media

right and so

I wouldn't be a very good business

educator unless I had proof or evidence

that I actually was good at business

right so we obviously could just sit on

The Laurels of the 3x that we had last

year three exits we had last year but to

me that's not like

as crazy as this will sound it it's not

super impressive you know what I mean at

least for where I want to go

um and so I want to have a billionaire

multi-billion dollar thing because I

think it would be so cool like how cool

would it be if we if Jeff Bezos and

Warren Buffett and Elon Musk and all

those guys had documented everything

that they learned throughout that path

all we get is these Snippets shareholder

letters every once in a while and it's

just like there's so little and they're

gonna die and we're gonna lose it we're

gonna lose all those lessons and so part

of it that excites me is just calling my

shop because I think um that always just

like enlivens a little bit of the

competition but I do believe from a

mathematical standpoint we will get

there so it's not to me it doesn't feel

like a super big I'm not really pointing

that far to the fence

um but seeing the

hordes the scores of businesses that are

using the stuff in the books and the

courses and YouTube and podcasts and you

know Tick Tock and Instagram and

Linkedin and

use those and the message I get every

day of like dude you help me go from a

million to five million a year you help

me go from you know quit my job and then

start my dog walking business and now

I'm doing you know six figures a month

and like those stories I know that I

will probably never meet most of them I

will probably never work with the vast

majority of them but the fact that it's

happening just

amps me up like it just gets me so lit

that's cool and so the media has been

really cool and new for me

um but I like it and so I'm learning it

and so it's just like it's a new thing

that I get to learn and so I'm really

loving that yes and then seeing the

vision of where we're going in terms of

what we're building on the

acquisition.com side the companies that

we're scaling there and the impact that

they're having because many of them are

also education businesses not all of

them but like probably at probably about

half

um

seeing that on both sides like us

directly influencing through media and

then the the actual wealth machine on

both sides like I just see them both

expanding that's cool and so I don't I

had we were talking before this but it

was like I saw a limit with gym launch

Prestige Labs like at least my my vision

was limited and that could have been me

being younger whatever it is but like I

don't feel like my vision is obstructed

in terms of where this can go and so

that is what amps me up a buddy of mine

sold his company for a couple billion

and he's been in a little bit of like a

a rut since then yeah kind of

interesting after people sell a lot of

money why do you feel like they go into

a depression or a funk after they sell a

billion dollar company they lose the

vision

right like the vision like I think the

vision is another word for Hope right

it's hope for a better future that's

what we're marching towards right and

you basically give that away to someone

right yeah in exchange for money right

and then the Hope ended up healing you

more than the money ever does but

different conversation but the uh but he

said this one thing to me and and it

really resonated he's like I'm just

looking for my next big bone to non

and that visual for whatever reason like

stuck to me and so I'm like I see a big

bone to non knowing that I'll never chew

through the entire bone but being pumped

every day to just get a little bit

further down the down the nub what

happens if we don't have a vision for

our lives

I think you have less Direction and so

you make less progress because you're

not actually you can't make progress

unless you have Direction because

otherwise you're just moving so like you

can only have direct like a vector right

you know movement in a direction

um if you know where you're trying to go

and so it's like the first thing we have

to do is figure out where we're trying

to walk and then we can start walking

there yes

you said you want to be a billionaire in

five to seven years so you kind of see

the math playing out that way yeah let's

say uh you were forced to do it in half

the time yeah three years you were

forced to be a billionaire yeah or some

catastrophic event would happen yeah

what would it take from you to reach the

billion dollar goal in half the time

what would you need to do differently

and how would you need to think and act

differently I would

I would probably
onboard more operators faster

um that being said the current plan gets

us there in like three years I say five

to seven publicly because I want to give

myself a little buffer I tend to be that

way because like I I have probably a

little bit different approach with goals

like I want to hit every goal like I

don't like missing goals and so for me

um I don't like teaching myself or

teaching other people that if I say

something's going to happen it doesn't

happen because some people like shoot

for the moon think really like I think

you absolutely should think really big

but then like okay

how do I make a goal that like and then

I and then once I have that goal do the

activities that make it unreasonable not

to hit it like if I hadn't hit this goal

to your point what level of activity

would I have to do that it would be

unreasonable it would be unacceptable

based on how I see reality that I would

not achieve it if you're like I want to

learn sales I would say it's un it's

unreasonable that if you get on 10 000

sales calls you will not be good at

sales be unreasonable okay how how long

will it take me to get on Ten Thousand

sales right a lot of time yeah a couple

years yeah right a couple years you

could do it okay

so then I can that's a goal you know

what I mean like I could set that and if

I do the activities it would be

unreasonable that I'm not realistically

you probably get there in half the time

right because you're probably pretty

good at sales even if your first two

three thousand calls right you're

probably pretty good and so with this um

we would uh I mean what we're doing now

is is

the only thing I could probably do is

take on bigger companies

um that would be the the shortest path

um but I feel I feel confidently like in

terms of how much we're stretching

um I feel good about it like it would

take I feel like I'd be taking on more

risk to hit that if that makes sense

um if you had to do it yeah and half the

time with less risk yeah with lesser

what would you need that's a good

question

um what would need to happen What would

need to shift inside of you yeah I would

I would need more people

faster I mean it would just be how many

people would you I would spend more

aggressively on Talent acquisition so I

would basically go into like from the

debt perspective right so rather than

think of the businesses or like the

portfolio companies as cash flowing

towards me I would probably take all of

the excess that is there

um and plow it into Talent earlier so

right now I live on a certain amount of

cash flow Etc from you know just from

the portfolio companies

um and I probably have gotten accustomed

to that and so I don't like cutting

below that

so if I had to then I would say all of

that money rather than going to Alex is

going to go into more Talent team bigger

faster yeah exactly and then they would

amplify and then they would be able to

we would increase our rate you would

have less money in the short term over a

couple years but then you would have way

more money in the long term totally

so it's a comfort level yeah it is it is

not as we're talking about yeah you

knowing that you like to have a certain

amount of cash flow every month

but you've got a bunch of cash in the

bank too I know it's totally it's uh

it's 100 illogical if you had to do it

though let's say you had to do it in two

and a half years let's say we're gonna

do tomorrow you know if you had to do

two and a half years because you need

time too yeah yeah you know you know

five to seven you know they're doing two

and a half and you had to stretch and

get extremely uncomfortable where you're

not going broke obviously you got money

yeah

how many people would you need to hire

yeah and how much less cash flow would

you need to have I mean I would

eliminate my cash flow all your cash

yeah I mean if I was really going I mean

I was going ham on it I would just I

would have no cash flow to me I mean I

don't need you have money right yeah so

I would eliminate all the cash flow to

me and um

it would a hundred percent of the money

would go into the team the only thing

that would go faster than that is that I

drain my own net worth to further fund

yeah exactly go your

I would be incurring financial debt to

more quickly build the Enterprise value

of the asset so I'd be transferring

money into the asset fast it's like you

incur different types of like if you

incur no debt when you start a business

you do always incur that you incur

management debt you incur technical debt

time debt 100 and so people like all

businesses start with debt it just

depends on what type of debt you're

dealing with right and so if you don't

have money then that's fine you just

incur other debt like even when we think

about how we built how we're building

the whole code right now at

acquisition.com like I am building more

fixed costs in the infrastructure right

now because of what I want it to be in a

year two years and so if I wanted to run

it like we already do reinvest obviously

a big percentage but I would just

reinvest more and be okay with it yeah I

just I've just grown accustomed to this

and it's funny because a buddy of mine I

had dinner with last night it's always

coming for 250 million dollars

and we were talking about how cash flow

is a very regular reinforcer from a from

a behavioral standpoint like you get

this feedback directly every month of

how you're doing right and so you as

entrepreneurs or at least for me I've

been always a high cash flow

entrepreneur like I've never been like a

reinvest every dollar into the business

I like making money for my businesses

um but I've that has become a trait that

I have learned to look at as my

barometer every month like how am I

doing how am I doing how am I doing and

so it would have to so to the question

of like what would have to change in me

I would have to change how I measure

success and then I'd have to reinforce

the behavior in a different way I'd have

to measure it differently right and so

is the cash flow coming from all the

businesses you guys are in partnership

with you get a percentage of cash flow

they get a percentage of business owner

as well so you have a certain amount of

cash flow uh every month that's coming

in from all these businesses right

but you also have a ton of money in the

bank yeah so one of them you could yeah

I could take some money out somewhere

you can still keep the cash flow coming

and take the money from the the same I'm

so security driven it's funny because I

was having this conversation with this

guy and so the guy sold us company for

250 million dollars for the last 10

years he's lived on 70 000 a year

70 000 a year and so he was staying at

the Marriott and I was staying at a

nicer hotel and I was like dude you got

money now yeah you got money now and

he's like I know he's like but I just

it's not funny

for years I would sit middle seat you

know back of the airplane cheapest

flights for years even when I had seven

figures and a year coming in yeah but

because I was so used to I was like I

don't want to lose my mind you know it's

like I want to make sure that I can live

like this I was still sleeping up

friends couches when I travel to events

it was like any way to save money and

it's not until the last couple years was

like okay my back hurts I need to like

have some like leg room right I'm a big

guy

but for years it was just like how do I

save and use that money to reinvest in

going to the event yeah buying the

ticket to the conference or investing in

coaching that will accelerate the

revenue long term

yeah it's so funny you say that because

I think and this this would be just off

the cuff here but

um

many of the people that I know who have

tremendous amounts of money have huge

fears around being poor and so it's just

as an interesting thought like a lot of

people who don't have money see people

who have money as thinking differently

and they might in that they are more

uncomfortable being poor than you are

like it is more painful for them than it

is for you it might be I'm just being

really it might be why some are stingy

too without money I'm not going to spend

this five dollars I'm going to keep it

you know they're very stingy with all of

it two nights ago I was we were out with

to dinner with a guy who just got valued

at a billion right and it's all cash

flow it's not one of these software

things like it's off like he's getting

yeah like he's making real money crazy

money

and he's like I'm not going to that gym

he's like free for equal and I said I'm

gonna pay 200 a month for gym membership

it's it's a different perspective now

I'm not saying I'm that way you know

what I mean like I'm okay spending on

gym membership that's fine for me but

like everyone has their own things and

like

there are these behaviors like he got

the other guy who had the 250. he got to

that point because he lived he he

squeezed everything out of his business

which made the business so valuable and

then he was able to sell it but like the

the billion dollar guy was saying he's

like you know what they don't tell you

about when you sell your business

because he's sitting next to the guy

with the 250 right and he's like the

moment you sell your business he's like

you have no cash flow

and so he felt that too he's like what

are you gonna do he's like you're gonna

take the money and then what are you

gonna do you're gonna try and buy more

cash flow because you got to replace the

cash for you with the business real

estate assets you're gonna do something

it's like my bother he's like I'll just

keep it and so he doesn't have any

intentions of selling and so it was an

interesting lesson for me too because

like we obviously got rid of our cash

flow asset when we sold uh all three

last year but you got a lot more money

but you don't have the money cash coming

right because then it looks like this

this finite asset the business goes on

forever in your mind at least right and

so it gives you this illusion of control

this illusion of security and me

personally

most people wouldn't believe this when I

hear it but like I'm very risk-averse

and so I probably need like what's the

core changes that I need to have I

probably need to be a little bit more of

a risk taker um than I am like I tend to

always take the lowest risk path uh when

I can even even the idea of like when I

quit entrepreneurship or so I want to

quit my job to start entrepreneurship it

was because I knew that the path that I

was on was guaranteed not to get to me

where I want so I had a zero outcome and

that so this one even though it was

lower like I had a low chance of success

the other one had a hundred percent

failure guarantee and so that so it felt

like the lower risk option for my

long-term goals to quit my job and

become an entrepreneur for that reason

and so you know people are like I'm

really risk-averse I'm like so am I like

I have hoard money like I do any of the

money from the exits no it's not just

sitting in the bank nothing we started

working the next day we didn't even take

it we didn't take a day off yeah we

literally sold wire hit and we started

working on acquisition.com the next day

let's say you had to um

put your start putting that uh

cash flow every month into other things

team resources whatever it is

and that wasn't coming in and uh you

know maybe let's call it 100 Grand a

month was coming in with cash flow I

don't know how much it is but let's just

say that is going into hiring team and

other things to support you getting to

the billion in two and a half years

what would need to shift in inside of

you after three months of feeling no

cash flow come in to stack your bank

account in order for you to be okay with

it

to get to that billion quicker I would

just have to be more secure just

realistically like I I use what does

that mean is that an internal I use cash

flow from businesses as evidence to the

fact that I'm not a failure and so I use

I I've always like it it has been easier

for me to change my conditions than to

change who I am and so I have used my

material success and accolades to quiet

the voices of not being good enough and

so for that like me having that if I had

that little voice that peeps up it's

like hey look at that I'm like okay no

no I'm I'm okay I'm not I'm not that bad

it's money it just came in everything

yeah right and so so I'd have to I'd

really have to re-engineer the

conversation I have with myself around

how I value myself

um because then people are like well if

you you know if if everything

disappeared you know how would you feel

about yourself I like to think that I

would be uncomfortable and then I would

change my views but I haven't needed to

do that yet and so my effort goes

elsewhere right but that's what probably

would have to happen in order for me to

make that change is it a

what is the thing that is you're afraid

of inside of yourself is it a self-worth

thing is it a self-love thing is it a

belief that you're not good enough it

would definitely be a good enough thing

for sure yeah it's just like maybe maybe

maybe I'm

not as good as I think I am maybe maybe

everything that I've been putting on

media maybe my book maybe all these

things are actually not true and I don't

know what I'm talking about right

because clearly I don't know what I'm

talking about because I'm not making any

money like so these things have been

that's why acquisition.com is the other

half

like the the actual businesses of

acquisition.com compared to the media of

acquisition.com it is the other half

because it's the evidence of the fact

that the things that I say are true

because those are getting results 100

and they're growing right and so that

way I feel bulletproof when I make when

I make the content when I make the book

when I write the stuff like you know

there's a zillion people who are like

you suck none of this is true whatever

and for me it rolls off my back because

I have evidence right I'm like no no it

is true and here's how but if I didn't

have that I would probably have to

it's because I don't know what the right

call is there because if I didn't have

the evidence it would be hard for me to

say you're wrong because I don't have

any proof that they're wrong but it's

evidence now right and so I have this

evidence so how do you change the belief

inside that you're good enough with the

years of evidence now

the question is like I have I built a

billion dollar thing yet you know what I

mean

um

yeah of course no but like it's it's a

fun it's a it's a fun convo and it's

great because I it's this was wonderful

Lewis because I get to see my own

limiting beliefs um and just for

everybody who's listening like everyone

deals with this you know what I mean

like at every at every level you're

dealing with this of like feeling of

inadequacy you know feeling not good

enough feeling you're not smart feeling

like you don't work hard whatever it is

like I have that stuff all the time

because you think that the external

circumstance is gonna is gonna solve

that and I would say that it does to a

degree it becomes a crutch right but

then you have this crutch and then you

just tie yourself Worth to the ACT later

the thing rather than steal yourself and

maybe I need to do more work on that who

knows if you could overcome one thing or

eliminate one thing internally to become

a better leader to yourself to to

quiet the noise it will help you take a

risk in a different way not talking

about lose all your money but totally

take the risk to help you accelerate

this yeah and you don't have to buy in a

way but I just believe that it's

possible for you to do that yeah I

believe you can be a billionaire in two

and a half years I appreciate it if you

that's the goal if you shift whatever

inside of you is holding you back

uh to get to that space

what would be that one thing to

eliminate or overcome internally to make

it happen is Need for external

validation 100 the need for external

validation

I started the question why do you need

external validation

I mean I think part of it's so ingrained

in us if you think about us as kids

right like how do you how do you Orient

yourself with the world you get

reinforced or punished at all at all

phases directly indirectly but you get

reinforced or punished and the things

that you get reinforced you do more of

the things you get punished you less of

right like that's just how how we how we

learn Behavior how we learn to function

in society Right Touch the thing ah it

hurts it's that's we got punished okay

you know you uh your parent tells you to

sit down and be quiet and eat

and you learn to sit down and shut up

and eat and then we wonder why adults

don't move because we're told to sit

when we're running around right we learn

at school sit down and be quiet 100 and

we and we wonder why uh we eat so much

when the reward for everything we did

when we were a kid was food right we

wonder these things so the reason

external validation is so hard at least

for me is because it's how I learned

everything is because external

validation gave you know gave me the the

directional guidance of what's good and

what's not and then as you get older

it's where am I going to get that

validation from and so I would say that

my external validation

um comes is still 100 there it just

comes from different sources so I'm more

selective on Whose validation I want so

how much external validation do you need

in order to

overcome this belief to go all in and do

it in half the time yeah no I think I I

just I need to be able to validate

myself and that's fundamentally I think

having Titus said this he said like if

you need someone else's

if you need he has this quote it's so

good but it's basically like

you need to be able to give you don't

need to swear to somebody else you

should be able to swell your swear to

yourself and bear witness to yourself

because your word should be good enough

so you need to eliminate external

validation right from you feeling good

enough probably yeah it's probably that

like obviously you need it's good to

have feedback in life so I think that's

why it's it's also difficult for some in

general because it's not eliminate or

have more of it's to what degree and

from whom and about what and so then it

gets a little bit more complex but even

using those different lenses I think

it's it's good to unpack it for anyone

who's listening which is like okay

Layla said this so this is not mine

um but most times when we're afraid of

something

it's not actually like this amorphous

crowd that we're afraid of it's like one

or two people's opinion like it's your

dad or it's your whatever it is right

and you're worried about what they're

gonna think and they're not even

thinking about you but you think they're

thinking about it they're thinking about

their dad

whatever it is right and so she restated

this earlier on to Mike like when we

were together five years ago she was

like are you and she'd like me name the

person it wasn't my dad it was somebody

else for this particular thing she's

like are you gonna let this guy stop us

from getting what we want wow and it was

like when I saw it it was like looking

in front of me I was like she's like

what if this guy hates you and thinks

you're terrible is that a worthy enough

reason to still keep going and I was

like yeah just like them let's go you

know what I mean and so she was very

good with that what do you need to say

to yourself every day to believe in to

believe you're good enough yeah you

could say one thing to you that no one

else needed to hear but you needed to

hear it from you what would that be

I don't know if it would be a saying

thing I don't think it'd be like an

affirmation I think it's just a belief

what would the belief be yeah I mean

fundamentally the belief would just have

to shift that that

doing this is enough

validation

for me not the results right and that's

I mean fundamentally that's always the

the goal is that you can you can detach

the the doingness from the result I

think what I've been able to do has been

to extend the time Horizon between the

doing this and the result but not

necessarily fully eliminated I'm patient

in turn in that I can continue to do

things for very long periods of time

before seeing a payoff but if I were

able to truly eliminate it I think that

would be kind of like a Next Step then

again it's that borderline on Insanity

because if you never get feedback on

sometimes you're like maybe I should

change directions you'll keep getting

feedback though because you're creating

and taking action you know the more you

do that you'll have more businesses

you'll be acquiring you'll be creating

more content and everything will be

growing at the same time yeah yeah right

100 I love seeing you you know go

through this process internally because

I think I'm open to it I just want to

win you know what I mean like I just

want to be better what does winning look

like it's achieving the potential it's

taking all this raw potential

the the the line in the Bible that

always scared me the most was to whom

much is given much is expected and so

for me I always felt like I was given a

lot you know what I mean like I I was

born in America right off the bat I was

born as a guy I have insane genetics

like from from that perspective I was

six pack when I was 15.

um I have a pretty high processing load

like I can I can usually I do okay with

complex problems

um I was I was bilingual at basically at

Birth because Paris talked to me

different language so that gave me good

language abilities and so it's like

these are these are all things that were

given to me right and and I was born

into like uh a d you know from a from a

money standpoint a decently wealthy

family right

um not you know Ultra billion but like

never worried about food or shelter or

anything like that right and so these

are all the things that were given to me

and so to me I'm like man much is

expected right and not necessarily that

that's you know God whatever just I

expect a lot of myself because I see so

much potential

um and I want to train like by the time

I die I would like to have nothing left

in my potential tank

um and it just all have been transformed

into into my reality yeah so that's what

winning looks like what do you feel like

missing in your life

not a lot I'm just like really right off

the Bell like I really like I'm I'm

amped right now I'm super pumped I love

what we're doing I love the businesses

that we're helping

um I love the mission I like doing this

um

not not a lot I mean though if I got

into things that were missing it would

be like super tactical like I want I

want these these roles are ones that I

won't build and the company you know I

mean like it'd be stuff like that it

wouldn't be anything else right if you

enjoyed that interview then I know

you'll love what we have coming up right

now so what do you look for when you're

you're acquiring a business or investing

in a business that has cash flow and

what businesses have the best cash flow

so this will be relevant for everybody

in the audience and also hits on what we

were talking about with the well thing

like wealthy people choose higher

leverage opportunities and we went over

what leverage was earlier

um the best businesses especially in an

inflationary period are businesses that

have low Capital expenses okay

um and that's because if you have some

examples yeah so I'll give you opposite

examples to make and then I'll drive it

so the something that does have high

Capital expense which is what you would

not want to get into would be like stuff

that has lots of inventory stuff that

has lots of supply chain lots of

manufacturing heavy equipment things

where you have to constantly buy more

stuff in order to increase capacity

right a low Capital expense business

there are things like Services right

Services uh you know digital businesses

uh software is mixed because sometimes

the development team can be considered

Aspen so it really depends on how you

build the dev team but the idea is that

if you can

produce 10 times more units without

phenomenally changing the the cost basis

then you will have a business that has

lower Capital yes and so that's what you

like and most of those types of

businesses produce more cash flow have

more pricing power and so I mean that's

what Warren Buffett invests in right

it's high you know like um

insurance Geico right there's no Capital

it's risk they're literally assessing

risk error it's math like the business

is math like if you really think it's

just math it's the entire business of

insurance and what's crazy as a side

note is that a great way of figuring out

the highest leveraged businesses that

exist is looking the business has been

here the longest

um insurance has been here since before

World the world wars right Bank the

banks have been around forever right JP

Morgan was in the 1800s wow right the

the biggest insurance companies they're

all 100 plus years old they're found in

the 1800s and so when you have a

business that's lasted that long to me

that's a great breadcrumb of like this

thing has to print money because it

means that they were able to still keep

making money through Wars through

famines through professions all of it

and they were still able to keep going

and so I think that when people are like

when you look at all the like many of

the biggest businesses that exist they

have phenomenal gross margins I don't

want to get to like you know business

termy here but like

the gross margin is how much incremental

cost it is to make a new an extra widget

right and so like a pill for example

cost a hundred million dollars to make

the first pill and then every pill after

that costs a penny right sure and so the

gross margin on the pill is very high

because if they sell each pill for ten

dollars they cost them a penny those are

great margin and most people who are

small business owners or people are

trying to get into small business price

like small business owners they say Well

it cost me a dollar I'll sell it for

three or I'll sell it for two but if

you're already starting on like a 50

gross margin it's very very hard to make

money because think about like that's at

a hundred you're already at half and

then you have the rest of everyone else

you have to pay off that extra fee yes

very hard to do and so like I'll give a

couple rules of thumb if anyone wants

this but like if you're if you're

building a service based business for us

I would I by all means I have to get

gross margins above 80 which means five

times the cost of goods so if it cost me

a hundred dollars a month the minimum

I'll charge is 500 right and so that

also gets you to think about business

differently which is not necessarily

even how much going to charge but how

can I provide value and make it cost as

little to me how can I be as efficient

as possible and if you think about what

technology does over time is technology

takes something that's valuable and

makes the cost of delivering it less and

so that's what happens is a lot of

people are able to have access to things

that were once only for the wealthy but

now become for the common men because

the cost basis decreases as a result of

technology and so technology as we see

it you know like we can create

technology but you can also have

technological

breakthroughs just through process in

your own business it's like and that's

we're niching down and being very

specific about the Avatar becomes

important especially when you're

starting because then you can productize

the service because if you're doing

everything custom which most people

they're starting out do it becomes

really difficult to become efficient and

it's really difficult to go fishing a

very little margin right or you have to

charge huge fees which most people

aren't too afraid to do and so the flip

side is if I do the same thing over and

over and over again I will get better

and more efficient at it and I will know

how to do it faster and quicker and

cheaper and I specifically choose this

type of customer so that I can have more

margin because there are millions of

even this one specific type of Avatar

and then from there I can take the gross

margin the extra cash that I have and I

can hire the best people I can invest in

marketing but when you have such little

marginal work off of it's very difficult

to make money yeah it's so hard to grow

that's interesting what do you think

it's going to be harder or easier to

become wealthy and start businesses over

the next few years

with everything that's happened in the

last couple years and where this whole

great you know

2030 agendas coming and all these

different things are happening the war

and all the you know there might be

another pandemic whatever it might be do

you think it's gonna be easier or

hardier to make money I think technology

in general makes things easier for most

people I mean because at the end of the

day it's just it's it's increased access

for more people yeah and so I think to

reach more people yeah at any moment

yeah if I were just to use history as a

as a as a guide businesses only gotten

easier to get into it's got more

competitive and easier to get into and

so I think that what happens is just the

arena gets bigger so you got more

Gladiators so it's more competitive but

more people can walk in and so I think

but it but for the world in general

the more people you have fighting to

make amazing products and services the

better it is for society yeah but the

downstream effect of that is that in a

capitalist system it is a winner take

all

for most for for many not all but for

many businesses and just by the nature

of it that does create social

disarray and it's just but the thing is

is like it's still the best system that

we have we don't have a perfect system

because the other other systems remove

incentive and Humanity doesn't buy

incentive yeah even the survivorship

bias like every MLM in the world exists

off the fact that there's that one guy

who makes 500 000 a month selling shake

mix and the other five million shake mix

producers are like someday why do they

need to get there yeah and it's just

survivorship bias right but that's why

the whole capitalist machine works so I

think they're like figuring out some

sort of a you know

creative way like my I put this in my on

my YouTube channel

um but like the idea of having 100 death

tax

I thought was like take down like the

income taxes and all this stuff but like

the thing that creates the conglomerate

at the top is that if let's say let's

say I have a hundred billion dollars

right that's interesting and if I have

500 billion I'm probably pretty good at

managing it because that's why I have

100 million so let's set a game for

holding it you're you're not using it

yeah let's say I gained 15 on my assets

so I make 15 billion dollars right on my

assets

it is so hard for anyone to to make that

up in a lifetime with just the one and

like that might be my kid who gains 15

and the next year he gains 20 like and

so it the compounding effect of the

wealth is a cross-generational is where

I think it gets crazy but if there were

100 death tax because obviously this is

aligned with my belief that all of it

disappears anyways

um so this is obviously Alex's two sons

of the world

um but it's just basically dramatically

lower the income income taxes I think

income taxes should be like as close to

zero as possible and then make the

capital gains taxes higher because

that's only going to really affect the

wall if you really want to think about

it right because people who if you make

with your hands

awesome right if you make on your assets

that's the stuff that has no has

infinite leverage with with time so if

you trade the most expensive thing for

your money then I feel like you should

get taxed less than if you trade no time

for your money sure this is like a weird

thought experiment what do you think

would happen if it was 100 death tax

I think that billionaires would become

far more giving

and as they approach the end they know

they can't keep it and I also think it

would change the way the game is played

because if you know because this is the

analogy that I I'd like I I haven't

heard it anywhere else I think it's mine

um but if you were to imagine Life as a

poker game right we everybody you know

grows up from 18 years old they can go

into the casino they get a check for 21

whatever age you can be and then you get

it you get a chip and then you sit down

at the table and your delt cards right

there's all the other players around the

table and depending on the cards are

dealt and the skill you have you begin

to amass chips right

and the difference between this

fictitious you know casino and the

casino of life is that in the real world

you can amass chips you cash out you

have a big lot of money you walk out the

door

but in the casino of life when the Grim

Reaper Taps you and says you it tells

you it's time

you have to get out from the table but

your chips stay on the table and they

push them to the middle to be

distributed by everybody else and

continue to get played for and that's

when you realize that it was a fake game

with rules that never mattered to begin

with and so I bought this piece of land

in Austin it was this huge it was like a

big really really nice lot and I

remember thinking to myself like

and then I thought to myself I was like

well the guy before me thought the same

thing and the guy before him thought the

same thing and the guy before him

thought the same thing and I was like

and we've literally still been looking

at the exact same piece of dirt

and it's just been cycled even if it was

father to son even if it was family to

whatever like the like death tax is

everyone 100 percent

like even if the government doesn't

death taxes everybody 100 and then time

taxes your money to Infinity because

like people are like I want to build a

legacy it's like that's even just with

like within Americana you know I mean

within the times of America but like you

go a thousand years and there's never

been the same superpower over a thousand

year period right and so we're like I'm

going to leave a legacy it's like but

that would be like you know let's say an

ancient Greek saying I'm gonna leave a

legacy for my kids when like they might

change their currency by you know XYZ or

and there's so many things and I've had

a real experience with this because my

great great grandfather was a ruler in

Iran which is where we're from we got uh

kicked out because we were low to the

shop back in the day which is why my dad

came to the U.S

and so despite that my great grand great

grandfather

um had like 400 wives ruler very very

well really yeah very very wealthy

different time different different

culture very very well he's a ruler

right yeah yeah all the money all the

women all everything literally a ruler

right and it doesn't matter and here I

am I'm not even that many generations

separated from him right even that you

don't have all that wealth you don't

have that land yet right and so like the

idea that we're going to somehow like

because the desire for legacy is the

desire to cheat death like that's what

it stems from it's like we don't want to

die we want to last forever so we want

to make something that is impermanent

and so we fool ourselves into thinking

that the accolades and the material

success and the books we write whatever

are going to last forever and they're

probably not right and so like I mean

the sun's gonna disappear at some point

right like if we don't do anything

before then like at the very least

that's gonna happen and so if that is

the inevitable outcome I think it shifts

the way people think and I think that's

when you start changing I mean Tony

robstock like global global belief

systems and that's why if someone like

adopts new religious belief like

everything changes because the reasons

they do and the way they believe the

world Works changes and so I think that

if they did do 100 death tax it would be

a really interesting way to see the

downstream effects of how it changed the

way the players played the game what do

you think would happen if all the

billionaires started Distributing their

wealth sooner I think or would they be

as hungry to be and driven to push and

build and innovate yes to generate the

wealth if they knew I got to give this

away anyways quickly I think they would

well I think it's because it's I think

it's I think I'm going to say something

that might sound bad but

um I think winners win

because of who they are and so I think

it's like sales guys like you can have

an incentive or a comp plan they just

want to win but they are sales people

and if I get on the phone I want to sell

because of who I am not because the comp

the cop is the ticket to get me to say

yes to the deal but it will not change

my activity I will do it because I love

to sell right and so I think

billionaires get there because they love

the game like you don't get to a billion

without just because you obviously don't

need it for you you stop needing it for

you millions and millions ago right and

so you do it just because you love the

game what I do think of the reason that

I I like that solution is because

uh Elon Musk said this but uh private

Enterprises 10 times as efficient at

Capital allocation compared to the

government right so every dollar that

private private Enterprise spends it's

10 times more efficient and so it is

like if if we were to death tax 100 so

whatever you accumulate while you're

alive it just goes back like and the

thing is it's not that it would go back

into the system through the government

it would if you were lazy

but most people knowing the government

was going to take it the less efficient

vehicle at the end of your life you

would then start thinking about how can

I allocate this money efficiently and so

what I think what would happen is you'd

create far more Ingenuity and Innovation

around social Enterprise

um before they die solving problems

knowing that the wealth would eventually

disappear so like it's more there's this

backstop that no one wants to hit and so

I think what happened is they would

change their behavior before hitting the

backside I don't think a lot of people

just be dumping their bill into the

government I think just knowing that

they had to would then just trigger them

to yeah yeah that would be you know hey

that's Alex's two cents of the world

which is obviously different what's uh

you just had a big exit right last year

what was that for how much it was 46

points 46 million so when that enters

your account yeah

what did you expect what happened what

did happen and what

can you teach other people about what

they should expect to happen when they

have a big exit so I will say that I I

did not feel the money I did feel the

loss of cash flow

because I had this you know I measured

myself off cash flow for since now you

don't have any right you got a big chunk

yeah and then no money coming in every

month so I actually felt and I probably

still still feel horror now than I did

before the exit that's interesting

because the cash flow's going down now I

I know that acquisition.com is going to

be I think significantly bigger than

sure than those companies were

um but in the interim I definitely did

not feel any better after that

um I am happy that I did it because I do

think I'm in the right you know vehicle

doing what we're doing now making the

books making the YouTube channels the

the twitters the social medias all of

them but

the cash flow is what I felt

and because I'd taken dividends my whole

life the amount of money that we got out

was pretty much about what we already

had anyways right so it was not life

changing in any way

um it didn't change how I lived at all

um like not at all we didn't we didn't

have any big like what are you gonna buy

I was like well I could you know I'm

happy already yeah I could buy 100

Lambos before the sale you know what I

mean like that wasn't good and I never

bought them in and I never did so like

you know because I I don't get a lot of

out of that

um what else was different losing losing

the team is hard yeah um because when

you sell a company you sell the you sell

the people like that's something that

people

yeah but you sell you sell the organism

you sell the system the people yeah the

processes and everything 100 and so that

was that was hard because there's

definitely times now that we're building

acquisition.com where I'm like man I

wish I had so and so oh I already taught

this person everything I'd like to have

to do it again so yeah there is a but

there's also some level of beauty to it

because now that I'm doing

acquisition.com

um I have a different appreciation for

what I'm doing because every other time

that I've started something it has been

from a place of lack it has been from

like well this is what's going to not

make me bore you know what I mean like

the gyms was all about that and then I

lost it all so the second time was all

about that again wow so this time I'm

starting not like that and I know what

it got like before we sold the companies

last year I spent basically 12 months

not doing anything because I wasn't

required in the business I could truly

it ran and so I had a lot like it was

very impressive exactly it was very

depressing for me what happens if we

don't have a purpose

I mean you you find one yeah you know

what I mean and so for me but you're in

a depressed state even though you have I

mean I'm sure you're fine but you were

emotionally mentally like what am I

doing every day exactly I've never go to

the gym for so long right can I go out

to dinner yeah what else are you gonna

eat every meal I want I can travel okay

now what after three months of that

there's about submission yeah some

purpose right even though you have the

money yeah your safety you have

everything yeah security but it wasn't

fulfilling a hundred percent

and so that was that was 12 straight

months and it was because we were going

through a sales process so you can't

start new initiatives because I'm in the

middle of a sale

um and you don't want to like make any

massive new hires

and so you just basically have to just

like maintain and the whole time you're

wondering I hope this deal goes through

because if it doesn't then you just

wasted a year just doing nothing and

then you might have to do it again so it

was this it was it was a super super it

was one of the most emotionally tiring

years of my life because it's always

like this is about to happen it's not

going to happen the deal's on the table

the deal's off the table like there's

all of this drama that's happening

constantly and I also one of the things

that sucked that I didn't like was as

soon as I had made the decision to sell

um or that I was going to entertain the

idea of selling

and this is a mistake I made everything

became about satisfying fictitious

Overlord of like what will they think

about this move well how they value this

and I started thinking whatever acquirer

who whatever private Equity was going to

buy the company like how are they going

to see this are they going to Value this

or is this a waste and so what happened

was I started making the private Equity

buyer my customer

and that was a mistake and so I think

that like at the end of the day and now

that and what happened was interestingly

we started the sales process because my

wife and I were beat down like we were

just very tired of you know we've been

in gyms for almost 10 years you know at

that point not to say that that's not a

good thing but like whatever we it we

won this course we were ready we were

ready but in order for us to sell it and

make it a sell business we had to fix

all the things right and so we took a

year before the year so two years

exactly yeah so it took two years

basically one year to like fix

everything and then one year to sell it

but the thing is it's just like when you

have a house that you like fix up before

you get ready to sell it by the time

you're about to sell you're like I love

this this is amazing I just fixed all

these all the problems I fixed now I've

got more cash flow it's more efficient

yeah

exactly and so it was again a very like

mind trip experience where I'm like well

maybe I should just hold it as an asset

that just produces cash flow yeah

overall Uncle Warren never sells

anything like selling is what makes you

rich keeping is what makes you wealthy

like you know I'm like I've got all

these kind of things in the back of my

mind but I think ultimately like I think

no matter what we had done we would have

been fine but I think for me right now I

think the likelihood that the choice if

I had two alternate realities which I

don't have to play in I think that the

choice will ultimately yield more impact

for more people I would not have the

attention to do acquisition.com and the

media stuff that we're doing right now I

wouldn't be here right I wouldn't maybe

focused on your gyms yeah or the yeah

exactly on those companies that were in

that in that portfolio and

acquisition.com would still be a side

thing but it probably wouldn't be the

main thing

um whereas now it is 100 of my attention

and the companies are killing it and I

feel

renewed when I launched School of

greatness 10 years ago I remember saying

I'm going to do this for one year

because I I wish I had access to this I

wish this was a thing that I could go

listen to yeah in the world to teach me

yeah and I'm not going to try to make

money like I'm gonna do it for a year

yeah all in but I'm not going to try to

make money I don't want to make money I

mean if the money came great but it

wasn't my intention it was just to how

can I create the best content to serve

people on the things that I wish I would

have learned in school growing up yes

the school of greatness yeah

and after one year I was like man this

thing's really starting to take off yeah

you know but it wasn't based on how do I

make as much money totally it was how do

I create something that can really make

a lasting change yeah and that intention

is what's made me sustainable for 10

years loving the process totally so when

people come from a place where I'm here

you say when they come from a place of

that intention of service or because

this needs to be in the world it's art

art exists not to do something it exists

to exist right it's like no one says why

did you paint that it's like I said

needed to come out I didn't have to

express it exactly and so I think that

if people chose their businesses that

way I think and don't be wrong I'm all

about making money like by all means go

get your back you know as much as you

can Yeah by all means but I think that

what it does is it ends up freeing you

to then make your real impact because

then you can start the whatever the next

thing and hopefully your first thing is

that thing but realistically it probably

isn't and all you have to do is look at

every entrepreneur that's really wealthy

the amount of graveyard businesses they

have in their back right right and so

like right now if you're listening and

you're like I'm not sure if this is the

perfect business idea let me just save

you the time it's not because look at

every other person who has been Ultra

successful they have 10 failed business

ideas so just like just start so you can

just start notching off the Bad

businesses right but extending the time

Horizon I think only happens if you do

shift the intention through which you're

building it or you're just unbelievably

self-disciplined but I think it's easier

to just like start at it with the right

heart because uh small changes but I

think it'll be worth it is that the

reason that most people aren't

successful in my opinion is that they

sacrifice Global benefit for local

benefit and that happens in all areas of

life you eat the piece of cake because

you have an acute local benefit versus

the global benefit of a six-pack that

lasts for a very long time or Better

Health Etc right and the instant

gratification as opposed to delayed

gratification exactly and I just I like

saying Global I just like saying local

versus global because it it happens in

an organization for example sales guys

don't want to put the notes in the thing

because it's a pain in the butt to put

the notes in the CRM but Finance needs

the notes customer service needs the

votes success needs to know like all of

these other departments need those notes

for all the other things that we're

going to do and so it's a local cost but

for a global benefit and so I think if

people were able to delay that immediate

gratification which is like this is the

nature of success I think they're

responding man there was this study that

was done I can't remember it but it's a

marshmallow test or the other okay God I

can talk about the marshmallow test okay

so fun fun one with that with the

marshmallow test is measuring how long

they delay for the marshmallow so at

what point does it not make sense if

they say you can get one because because

they like everyone simplifies the

experiment which is like if I give you a

marshmallow one now or you can get two

later right but what if two is in a year

yeah you're like I don't care I'll take

the one now right so then the next

question I would have is like

if you were to test kids and then say at

what point the global versus local

crosses would be and then track the kids

who had the longest marshmallow waiting

period because then you could measure

how long the most successful probably a

life yeah really interesting just total

side note but the three things that I

think were in common of the ultra

successful were inflated sense of self

as in they thought that they like they

deserved big things they wanted to go

after big things they believed in

themselves right inferiority never being

good enough and impulse control

those are the three factors of the most

successful they like when they did a

common factors analysis like these

people think they believe that they can

achieve all this amazing stuff and then

it it's just it's an amazing Paradox

because at the same time they think

they're not good enough and they are

insecure about whether they they can

achieve it and they have impulse control

and so it's like if you have a plan yeah

right and they just they and they stay

focused on the thing and what I like I'd

say the biggest breakthroughs that I've

had I think that will create a lot of

the wealth that we will have in the

future is is really a deep understanding

of how long long is and shooting with

the intention of like I'm only bringing

this up because my YouTube guy said it

he's like I've never had somebody who

actually started I was like we'll see

what we do in five years

I was like We'll measure that and he was

like no one has literally ever said that

to me I was like as long as I see

progress I'm good because it wants

results in like two months yeah yeah

like if we're making if we're going this

way I'm cool I don't need to like that's

good enough for most people if if they

could extend the time rise because like

I'll give you another hack you can know

how wealthy someone is based on the time

Horizons they speak in

give me an example so if someone's

talking about how they're trying to make

you know make money this today

hey let me hold 20 for today

you know how you know how poor they are

I have to say poor like you know how

poor now right if someone's talking

about what they're going to make this

week or this month

or this quarter or this year or this

decade

think about how different the people are

who are talking in those time Horizons

and so I think that if we can shift the

time Horizon that we think in then we

gain more leverage over our time which

we then know we will compound into money

because I think if you can Master the

time you match them

that's good the more I I learned the

more I realized I was lied to

like we're taught to go to school to get

a degree to get a job so we can then get

a job and climb the corporate ladder but

wealthy people don't do that wealthy

people are not working to climb the

corporate ladder they're working to own

the corporate ladder I didn't even

realize that you could do that