https://www.youtube.com/watch?v=JPCJEtMXOu0&ab_channel=LewisHowes

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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00:24:00.000 --> 00:25:00.000
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

26
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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

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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

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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

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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

30
00:29:00.000 --> 00:30:00.000
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

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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

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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

33
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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

34
00:33:00.000 --> 00:34:00.000
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

35
00:34:00.000 --> 00:35:00.000
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

36
00:35:00.000 --> 00:36:00.000
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

37
00:36:00.000 --> 00:37:00.000
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

38
00:37:00.000 --> 00:38:00.000
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

39
00:38:00.000 --> 00:39:00.000
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

40
00:39:00.000 --> 00:40:00.000
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

41
00:40:00.000 --> 00:41:00.000
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

42
00:41:00.000 --> 00:42:00.000
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

43
00:42:00.000 --> 00:43:00.000
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

44
00:43:00.000 --> 00:44:00.000
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

45
00:44:00.000 --> 00:45:00.000
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

46
00:45:00.000 --> 00:46:00.000
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

47
00:46:00.000 --> 00:47:00.000
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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

62
01:01:00.000 --> 01:02:00.000
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

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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

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01:03:00.000 --> 01:04:00.000
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

65
01:04:00.000 --> 01:05:00.000
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

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01:05:00.000 --> 01:06:00.000
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

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01:06:00.000 --> 01:07:00.000
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

68
01:07:00.000 --> 01:08:00.000
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

69
01:08:00.000 --> 01:09:00.000
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

70
01:09:00.000 --> 01:10:00.000
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

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01:10:00.000 --> 01:11:00.000
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

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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

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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

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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

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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

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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

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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

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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

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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

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01:19:00.000 --> 01:20:00.000
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

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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

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01:21:00.000 --> 01:22:00.000
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

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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

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01:23:00.000 --> 01:24:00.000
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

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01:24:00.000 --> 01:25:00.000
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

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01:25:00.000 --> 01:26:00.000
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

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01:26:00.000 --> 01:27:00.000
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

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01:27:00.000 --> 01:28:00.000
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

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01:28:00.000 --> 01:29:00.000
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

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01:29:00.000 --> 01:30:00.000
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

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01:30:00.000 --> 01:31:00.000
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

