You Already Beat Half Your Competition By Showing Up

0:00Like think about the people in this class. You guys know there are some people here who don't try for [ __ ] Now imagine that person has a business. It's easy to beat them. It's like it's really not hard. Like you just you just have to show up. >> We've got the class in the background. They're over to this side, too. So, say hi. Hello. >> Hello guys. I don't know how big I am on the screen here. I don't know if I'm like a laptop size or like I'm >> We've got you up on the screen here. I'm facing the opposite way. These guys all know you. We've consumed a lot of your content. We've talked about some of the situations that you've been through.

0:32We've compiled some questions that we we'd love to ask you and get your insight. >> Cool. It would be helpful for me if I could actually get the questions now because it'll probably frame what I talk about briefly and then we'll get into them. Does that work? >> Yeah, for sure. So, basically what these guys are learning this semester is how to actualize a business. And what we're trying to create is real-world scenarios for them to get the skills of entrepreneurship rather than coming up with make-believe scenarios.

1:00>> Yeah. >> So, they're all investing their own money rather than buying books into their startup funds and they're compiled into teams. >> All right. >> What they're looking to do this semester is get a validation of a business idea. And we're defining validation as somebody handing you money. >> It's a great great definition. Just get a stranger to give you money. Great. Fantastic. >> So, one of the teams that's already gone out and turned their $100 into $168, which is amazing. With Jim Launch, some of the harrowing early situations that you had, like, you know, you couldn't take payments, you didn't have a payment processor, you were getting more refunds than you were getting sales. So, what kept you motivated to keep going? And then why were these harrowing experiences kind of crucial and important to your long-term success? What skills did those teach you and why can you not skip the process?

1:50And then it would be awesome to hear, like, if you were in these guys' shoes and you had $100 and a team of five to go out and validate a business idea with the, you know, hope that you're gaining as many skills as possible that's related [clears throat] to entrepreneurship, what would you do? >> Yeah. >> So, >> Cool. >> I'll leave my questions there. And then, I want to call on um Amber, do you remember your question or do you want to read it off?

2:18Okay, Amber's just behind me. >> Great. Thank you so much, Alex. This is so cool. So, my question is, you can do anything, but you can't do everything. What factors do you consult to decide which thing you should do at the given time? So, I'd basically like advice for making big decisions quickly and figuring out what you should commit to. >> It's a great question. >> Okay, so hi. I'm Matin. Uh quick question, what's the most rewarding part of having your own business that you didn't expect when you first started?

2:50>> Okay. I know that we did a little bit of like more upfront cost in terms of boredom for everybody in the background, so I apologize for that, but I promise uh I think it'll it'll it'll yield a better return over the remainder of the time we have together. Okay, so unexpected reward, that's what I wanted to just write down real quick. Okay, Matin, I'm going to give you a quick answer on this. Um part of me is like, why do you care? >> [gasps] >> Like, why do you care what my unexpected reward is for starting a business?

3:17Um cuz like all the expected rewards were also there, which is like money, time, and freedom. And so, I would say that those were, you know, significant. And um you know, beyond that, I would say unexpected rewards is that you get to invest in other people that are teammates. And as you get bigger, like once you stop needing the money for yourself, it becomes about creating opportunities for the people that are closest to you. So, yes, to a degree, you're you obviously want to serve the customer and not to a degree, but um you know, that you're you'll be mission-oriented in terms of trying to solve some problem for some person. But the people that you actually interact with on a daily basis are not your customers, but actually your teammates.

3:50Um and it's usually the five to seven people that you interact with on a daily basis, and then they have five to seven people that they interact with on a daily basis down the organization. And so I'd say that that was probably the more unexpected of the things that that motivate me. Um, over the long haul that has been like an unexpected return. But I I am genuinely curious why you even cared to ask the question or if it was like, "Hey, everybody submit a question." I'm going to I'm going to zoom out real quick before we get into these things cuz if you guys take a cursory look at the internet, you can probably find answers to each of these questions, right? And so like to try and make this a little bit more substantial for everyone. If you guys have followed my stuff at all, then understanding the definition of learning I think is important. And so I define learning as same circumstance, different behavior, which means that if you continue to act the same way in the same circumstance, you have learned nothing. And so if you go through a semester and your circumstances have not changed and neither has your behavior, you have learned nothing. So the fact that you have knowledge in your head but you do nothing with it means you actually haven't learned anything. And so I think um, that is useful when paired with the definition of intelligence, which is rate of learning. So somebody who learns slowly is not intelligent or less intelligent than someone who learns quickly. And that means that if you change your behavior quickly, you are intelligent. If you do not change your behavior quickly, you are less intelligent, which is different than probably what most of the academic world teaches, but I can promise you in the real world that is what matters, which is how quickly can you adapt? How quickly can somebody put you in a situation say, you have a list of phone names in front of you and when the person picks up the phone, same condition, how shitty are you? And if you get better over time, it means that the next time someone answers the phone when you call them, you do better, which means that you have learned, which means you are intelligent. And if it takes somebody much longer to do that, then they are less intelligent because they have not learned. Does that make sense?

5:28Like I like nods or waves or thumbs up, that'd be >> Yeah, yeah. >> Cuz I can't hear anything. So I I'm kind of talking to my face to my [laughter] own face right now. >> Okay, so let's >> No, you're good. And I I I just want to set that as the stage because like it's kind of the reason I I I I mentioned my team's question, which is like what is how's this going to your behavior at all? Right? Like, what is the unexpected reward is like to your point is it is it you not feeling motivated? You want more reward at the end of it because I would say like business has [ __ ] loads of rewards in it. So, like if you need another one, why? So, I'll I'll I'll go to Amber, your question which was how to make the big decisions. All right? And so, that's the I mean, that is arguably the single most important thing that you do in life.

6:13Because the decisions that you make are the things that you get the most leverage on. So, leverage is the difference between inputs and outputs in a system. So, if you do little inputs and you get lots of output, you have high leverage. If you have lots of input and little output, then you have low leverage, right? And so, our goal is to put as few inputs in and get as much output out and that's how you continue to trade up in the game of business and career-wise, income-wise, whatever. And so, if you're trying to or if I am trying to make a big decision, I factor in it's basically just risk-adjusted return.

6:43And what that means is like, okay, there might be a 10x, 100x, and 1,000x potential, you know, outcome here. What is the likelihood of each of these outcomes? And based on that, I'll make my bet. And I would say for me, I tend to take higher probability bets than lower probability bets. So, like if I had a one in a 100 shot at a 100 million dollars, right? Or I had a 100% shot at a million, I would probably take the million.

7:14Probably to make it a little bit more better example. If I had a one in 100 shot at 500 million, so it'd be five times the risk-adjusted return versus the 100% for a million, I would still probably do the million. I tend to be that way. And that's why risk is very much of an individual kind of thing. Like, I the idea that I would spend x amount of time on an opportunity and have a low likelihood of payout, it works from a portfolio perspective. So, if you're investing and you You five different things, then the risk-adjusted return matters a lot. But when you're the one of one and you spend eight years on something and then it does not pan out and you get a zero, it's tough.

7:49And so for me, I'd rather have higher probability win stack and then I will take bigger and bigger bets as I do not need the win. Basically, the more I need the win, the higher the probability bet I'm going to make. Does that make sense? And so, um in in Jeff Bezos has one of the one of my favorite quotes about this, but he says, um I'm I'm paraphrasing. But basically, uh the difference is in baseball, you get no matter how hard you hit the ball, you can only score four runs.

8:20Right? It's a grand slam. But in business, sometimes you can hit the ball so hard that you get 1,000 runs. And so it's the long tail uh distribution of returns, which is what makes business so interesting. But it if you have a bet where you get a 100 times payout and it's a one out of 10 shot, you should take the bet every time, but you know that you're going to be wrong nine out of 10 nine out of 10 times. The difficulty with that with that assessment is that it assumes you have unlimited tries.

8:48And so, to calibrate the investment or risk is not that you have a one out of 10 shot on a 100X return, because if you did that, for sure, go go bet 10 times, then you'll probably get the 100X return. But if you only have three coins to play the game in total, now do you take the shot? Right? And that's probably more realistic for what people's lives are. And so, if you're looking between two things, I look at what is my upside and what is the likelihood that I'm going to get it. And I tend to I tend to go towards highest likelihood, highest return.

9:23Me, personally. In the beginning, I knew I knew fitness and so I was like, I feel like I can do okay with this. And so, I started a fitness business, right? I didn't need I didn't I I'd already paid down that ignorance debt and just had to learn the business side. To To fair, that's an endless game, but I felt like I had a pretty good understanding of the fitness side at that point. Um once I understood the the the fitness side and then I understood the gym side, then it was like, "Okay, now I need to understand the scaling to multiple locations side." And then from there, it was the turnaround business. And then from there, it was scaling to thousands of locations. And each of those levels kind of add new complexity to the game. But, I'm a big fan of like a stair-stepping concept, which is like you just keep getting better and you stack skills on top of the ones that you got. Um but, one of the big things that I would warn everybody who's in this class is that there's a fallacy of the perfect pack, which that you think that the business that you're going to start right now is for some reason going to be the business that you have for the rest of your life.

10:09And I can I can promise you it's it's not going to be. And that's that's tough to make that promise. Um but it's it's really really really unlikely. Most people who are entrepreneurs sprint in 3 to 5 year seasons. And so, you do one thing for 3 to 5 years, and if you can and you're smart about it, you want to stack the next thing that adds on top of the experience you gained from the those 3 to 5 years, right? Where it gets tougher is where you have to net start somewhere new cuz it's it's kind of like losing that time.

10:35Now, you learn some character traits, some interpersonal skills, things like that, but the domain-specific or industry-specific knowledge kind of dies there, which is kind of tough. So, I like to just try and be directionally correct, which is like, "Is there an industry in general that I find not shitty?" So, like don't try and find your passion because you're not good at anything yet. So, like why would you be passionate about it? >> [laughter] >> We're We're usually passionate about stuff we're good at. And you suck at most things that you haven't done much of. So, trying to find passion for something that you haven't done a lot of is kind of silly in my opinion. And so, um one of my rules of entrepreneurship, if not the first rule of entrepreneurship, is use what you got. And so, I'm going to weave that into the motivation, which is question three.

11:15So, you know, when I was when I was your age, that sounds weird. Um wasn't that long ago. Um yeah, 13, 14 years ago. Um I was not like, "I want to make a business that changes the world." And right now, you're probably in academia and you're at a young part of your life and it's exciting because you have unlimited opportunities, which is cool. But for me, I was not super passionate about really anything. Um I wanted to not be broke. I was very passionate about that. I would say that was my That was my guiding mission. Um but what I did have a ton of uh was anger. I had a lot of anger um and a lot of shame and a lot of and a lot of a lot of pride uh a lot of ego.

11:57And that's what I used um to get me out of you know not being motivated. And so I think that the academic world and I know it's a culture's tough right now um and you guys probably feel pulled in different directions um but I think a lot of these words that people throw around like trauma and stuff like that does not serve you. So I will save some contrarian views right now.

12:22But so what? No one cares. And so like even if your uncle raped you your whole life, that's tough. And no one cares. No one's going to care. And so the thing is is like if you blame your lack of success or your lack of motivation on some external circumstance because your dad didn't give you enough high fives or your mom didn't hug you enough as a kid, you give them the power.

12:48It means that you're giving your ability to be motivated into you're putting in someone else's hands. And for me, I was 19 when I realized that. How old are you guys in the room? >> 20 Yeah, between like 19 and 22. >> Okay. So I was like I was y'all's age. Um and I realized that the people that I hated the most, which to me at the time were my parents, um I was giving them all the power for why I was not going to do the things that I ultimately wanted to do. Like I won't be successful because she didn't love me enough and he never gave me approval and blah blah blah blah.

13:22But at one point I was just like, no one cares. And so then I had all this anger that was kind of left over cuz I didn't have it pointed at them, so I pointed at me. And then fearing the failure or the judgment of having my dad call me a failure was for me the biggest motivating factor I had because like I didn't have the passion that many people talk about. I did have the rage. And so that's what I used. And so I'm not saying that you might have that. You might have a different emotion or different feeling or different fuel.

13:51But use what you've got. And I think that'll get your head above water. And that'll get you moving and then you'll start getting some wins. And then you'll start getting a little bit more directionally correct and you'll start learning as you go cuz the difficulty that everybody has right now in this room is that you lack the perspective from which to make a judgment. So, the easiest analogy I can think of here is like if you are not into fitness at all and you're trying to lose weight and you read one article and it says bacon is bad for you. Another article says bacon is good for you. And somebody else says you should have high carb.

14:23Another person says you should do carnivore diet. Another person says you should be a vegan. And all these people look like they're in shape and you can't tell the difference. It's cuz you don't have perspective. So, all of these people you [snorts] and so you feel lost. And so the only thing that you can really do at that point is you just have to move in one of the directions and you will start gaining knowledge and then you will start pivoting. You'll start moving in the direction that that starts to serve you more. You kind of got to feel your way to success.

14:51You iterate. So, it's the it's the fallacy of the perfect pick is that you think that like I'm going to get you're going to get the perfect diet on your first shot ever. Really unrealistic unless you luck out and talk to like an absolute expert on the first shot. Which is truly luck. But most most people don't do that. They just read some articles and it makes some sense and they're like, "Okay, well all of these kind of are calorie restrictive. Okay, well then that's generally the direction." So you start moving that way, right? And so um I wanted to just hit on those points from a from a motivation perspective and from a what to do and picking the the right choice.

15:26So I So far we have three of seven covered. Thumbs. Okay. So in a show of thumbs, should I go uh let's talk about the debt thing or let's talk about what to sell? Debt or what to sell? >> I think they want both, but we'll start with >> [laughter] >> Okay. All right, fine. We'll do that. So um the the risk that I took was an enormous risk. Um and it was probably not a wise risk.

15:54That being said, the context around me betting 100 grand when I had a thousand dollars in my bank account was that I was a six-time gym owner that had done 30-plus turnarounds. This is not my first rodeo. I knew that if I spent 100 grand, I'd a very high likelihood that I was going to make it back. The risk, the real bet was that I didn't have a processor. And I just was betting that I could get one set up by the by the time I would need to pay the credit card off.

16:20So the bet wasn't so much that I was going to bet 100 grand and not not make the money because I knew the system worked. I've been doing it for 5 years at that point. And so that just to give you guys context. And so for for you guys if you're like, oh I want to go like you should not go into debt for your first business, in my opinion. Cuz you don't have you have I'm going to cuss. You have no [ __ ] clue what you're doing. Right? The biggest risk that you have is ignorance. You have no clue what you're doing. And that's okay. That's the whole game, right? The whole game is that you continue to learn. Um but from the debt perspective, you already have ignorance debt and you should you're going to be paying that off. You don't want to pay financial debt and ignorance debt at the same time cuz those compound.

16:59Okay. Do you guys all want to start a businesses? Or is this like just a college credit? >> so many of you want to be entrepreneurs. >> Okay. It's a lot more than it was when Okay, that's good. I mean not good I mean good or bad I I was more just curious cuz um I remember I had I had some I was in an entrepreneur class when I was in college and this guy who owned Asurion, which is a massive uh cell phone insurance business, like came in and talked and I was like, man, this guy's smart. I have no idea what I'm I'm doing.

17:29>> [laughter] >> Um and uh I just I think a lot of people after I was walking out of the class like didn't have any interest in becoming entrepreneurs. At least the vast majority of my class did not become entrepreneurs. And entrepreneurs has like a really like cool sound right now. It's kind of in. Um I think when I started it wasn't cool. Um And so like at the end of the day like you're just selling [ __ ] Like that's all you're doing. You're just you're just getting a stranger, you're just solving someone's problem and selling stuff, and getting them to give you money for it.

18:00And so I remember in my little entrepreneurial class, everyone was very product driven. So it was very much like, I'm going to make a widget that does We're going to create waterproof headphones, which by the way didn't exist back then. I was like that was like high-tech. >> [laughter] >> And so everyone kind of did their whole pitch of like the team thing, right? And I my team started a we did a a toilet seat that you could lift with your foot like a trash can, you know, those little trash things like so that way the seat would lift up, right? And we like looked at the margins, what could we sell it for? It was like, you know, our version of the Squatty Potty. But the thing is is like I remember doing that and then never actually thinking I would ever do this business.

18:36And what most of you guys don't know is that like it is so easy to crush other people who are in business. And so that may seem like very different from what I just said about like you don't know what you're doing. Uh let me bridge the gap. Most people don't try that hard. Like think about the people in this class. You guys know there are some people here who don't try for [ __ ] Right? Now imagine that person has a business.

19:01It's easy to beat them. It's like it's really not hard. Like you just you just have to show up. Like and you already beat half the field. Right? Like answer your phone on time. Like respond to emails when customers ask you questions. Like, actually tell people about the thing that you have. Right? Like, try and do a good job. Ask them to leave a review. Like, not rocket science. But, guess what? All of those things are like homework, and people don't do it.

19:26So, a lot of like crushing it in business is really just doing the basics that other people won't do. Like, a lot of the school lessons that you have right now apply. The same people who don't do don't work hard also don't work hard. Like, it's it's the same, right? Um And so, uh in terms of picking what to sell, this is my roundabout point here is that you could start a dry cleaning business tomorrow and make money doing it. You could start a lawn care business tomorrow and make money doing it. You could start You could start a house cleaning business.

19:55You could start commercial cleaning. You could start like There's a zillion different businesses that already exist, and all you have to do is do it better. Like, that's it. Like, you can you become a a multi-decamillionaire just doing it better. That's it. So, for for some of you guys who are like, "I want to get in business, and I don't know what to sell." My advice is number one is you have experience or some exposure to business in some way.

20:21And usually that's in the form of like what your parents do. Like, you've been exposed to industries like just over the kitchen table in the background. Like, my parents are eye doctors. I know a shitload of stuff about eyes. I will never use it. But, if I wanted to get into something, like I happen to have spent years working out. And so, that was something that I was passionate about. And so, like that was something that I knew something about, and that was kind of like my base level of knowledge. But, some of you guys know other [ __ ] Either from your parents or your own little side interests and whatnot. Like, those are great places that you can start businesses in because you have suffered some problem.

20:58And so, rather than try and think like, "I'm going to look for a problem in the marketplace and then try and solve it." A lot of times like, "What problems have you suffered from personally that you think suck. Like, I hate waiting in line for sandwiches at lunch. Okay, cool. We'll create a a line waiting thing. Like, it's just it's You don't have to be a rocket scientist to figure these things out. A lot of times it's just doing something faster or making it easier than what it currently is.

21:23That's it. Is that like mind-blowing? It's like just do whatever anyone else is doing and just do it faster or do it easier. And if you can do both, you can charge more money. That's it. All right. And the thing is is that um that allows you to like you can just apply faster and easier to any business model that's out there and create another business. So, you don't need to be that original. Okay.

21:48So, we covered debt, which is don't do it unless you know what you're doing. I like the quote from Warren Buffett which says, "If you're smart, you don't need it and if you're dumb, you shouldn't use it." >> [laughter] >> And so, like I was in a tough spot and I had already gotten six guys to quit their jobs and I didn't know I was going to lose my processing in that meantime. And so, it was kind of a hard spot of like these guys just quit their jobs. I'm pretty sure this is going to work, but I don't know it's going to work and I have to just hustle my ass off to figure out a way to get processing set up.

22:19That was my problem to solve and it took me a month while we're just collecting all these contracts that I couldn't process to get two processors set up and then eventually we're able to catch up on the on the money that that was owed. Um but that like that was a it was a it seems like a very risky move from the outside, but the only real risk was getting the processing set up. And I ended up going with like a high-risk casino online like all the shady businesses that exist out there.

22:46Um they would process for like a 8% fee, which for anyone who's curious, that's egregious. Uh like Stripe is 2.99. So, it's like getting an 8% top line rev share on your business that goes to nothing but just being able to process money and then on top of that, they had a 10% reserve, which means 18% of my top line didn't come to me. So, if you if you're like familiar with some of the margins, I'm sure that you've been talking about like some businesses run 20% margins. If you give 18% off the top, it gets real tough.

23:14So, anyways, that was all I had. So, I was I was dealing with the devil, and so I had to I had to make those decisions, but it ended up working out. Okay, debt, motivation, what to sell, unexpected reward. Why would we ask that question? I don't know, but we we we covered it. Um what to do, uh which is the leverage and probability which Amber talked about or Amber asked about. And then we have uh I think there was a question you had start a business, which is the first question. You had skipping the process, and then $100 team of five, what would I do? Okay.

23:45So, I'm going to go $100 team of five, what would I do? For 300. Uh so, um if you first off, it's it's kind of like it's weird uh that you'd be in teams of like it normally it'll just be you. Right? It'll be you, and then maybe maybe a partner. And so, I'll give you a couple words on partners real quick. Like, it's not realistic cuz right now you've been forced to be in the groups of five, and there's probably someone dragging ass who's not going to do their job.

24:12Um and normally you just fire them, but you can't do that in your classroom setting. And so, you just have to deal with this person. And then you have to deal with whatever culture you have with with the five people that are working with you. And so, you like sure, you have to learn team dynamics, but in the real world you just get rid of those people, you switch teams. Um so, >> [laughter] >> one, you will probably be on your own, and if you're not, you're going to be with a partner. Now, when you're picking the partner, and this is important, you want somebody who's not your buddy.

24:38Not to say that it's bad to be your buddy, but you want the primary reason that you are going to work with this person in the business that they have either money, skill, or time that you do not have. So, if you're going to partner with somebody who's going to front you capital cuz you want to open a storefront, okay, they've got money you don't have, and you've got time, and hopefully some skill that they don't have. Right? If you were going to go 50/50 and you're both going to put your your your savings into something, well, you both have money. Okay, well, that that cancels out. Uh you both have time. Okay. And so then it's just does the other person have an entirely diverse set of skills compared to you?

25:16Most people who are younger both have no idea what they're doing, which means that you're really just splitting the pie in half for one person extra to work. And that is probably one of the most expensive decisions that you will ever make. You cut everything you make in half. So, in my opinion, you better be darn sure that this person is going to double the value of the business.

25:40Because if you can make enough money on your own to pay someone to help you, then you keep 100% of your business, and you just have to pay some overhead to them. Does that make sense? The biggest mistake early entrepreneurs make is they partner with the wrong person. I say this having eight failed partnerships before I learned this lesson. And it's cuz like I love to I love the idea of doing business with buddies. And so I have many of the scars to say that. Now, I haven't made those mistakes in a long time, but it took me a long time to learn it, which is like if if if you both have the same opinion and same time and same money and same skills, one of you is not required.

26:20And eventually one of you will resent the other because both of you will think you're working harder than the other person. I'm just planning it out. So, if I had $100 and a team of five people, one is we address the fact that the team of five will probably not be realistic because you wouldn't pick those people. That wouldn't be your dynamic, and five people doing anything is probably not the thing. Number one. Number two, and this isn't me pooh-poohing the idea. I just want to just set set this the record straight. Number two, having $100 is kind of an artificial constraint. And I think in some ways it can limit your thinking more than having no money at all because $100 is basically no money. Like, who cares? Like, it's not going to do anything. So, like, whatever.

26:58The real thing that you guys will have in the beginning if you have $100 is you have your time. And that's what you're going to basically have to sell if you only have $100. Whether you had $1,000 or $10,000, it's pretty much be the same thing. Which is you're going to have your time and you're going to do a lot of stuff on your own. You have to learn a lot of skills that you're only have to learn once. It's just what makes it slow in the beginning. You got to learn how to build a website. Kind of sucks. You only have to do it once. Or you got to pay somebody. But, if you have to pay them, then it's like you have to keep paying them every time you want to change [ __ ] So, is that a useful skill you should learn?

27:26Probably. It takes like an afternoon to learn. Like, nowadays in my day, HTML you had to code by hand. Um, but now there's like drag and drop tools and like AI can spit out sites in like 5 seconds. So, much easier now. Uh, it's also cheaper. But, sure, you learn that. Okay. Uh, what's the next thing you're going to have? And so, I think this is what I want to focus on here is that if you're going to sell something to someone, right? I'm sure you've already covered you need an LLC, you need a bank account, you need a way to process money. Right? If you have those three things, all you need now is somebody to give you money to run through the machine and now you have a business.

28:01Everyone clear on this? Okay. You can do that in like a week. Like, everybody here can start a business in like a week. It's not It's not that tough. Now, once you have those things, you have to promote it. All right? And there are eight ways you can promote stuff. Four of them are yourself. Four of them are with the help of other people. Okay? Number one is that you reach out to people who know you one-on-one. Which is like, "Hey, do you know anybody who's looking for a faster dry cleaning solution?"

28:29Cuz I have and then you put the offer which hopefully if you've read the book like you get you make them an offer that they can't say no to. The second way you do it is you make content about the stuff that you do. Which means you post publicly. So, this is one-on-one to people you know. This is one to many to people you you know. You make content about it. You do it for a long time. Number three is that you reach out one-on-one to people you don't know. That's cold calls, cold emails, door knocking. All of those things are ways that you let other people know about your stuff, strangers.

28:57Number four is that you run paid ads. You run paid ads on radio, direct mail, TikTok, Hulu, Facebook, YouTube, Instagram. You see them all over the place. Everyone know what those four are? Those are the only four things that one person can do to let other people know about their stuff. And so right now, especially in the beginning, if you want other people to buy your stuff, you got to let them know about it. And there's only four ways to do it. And so as long as you start like measuring the inputs of what you're putting into one of these four things, that is the thing that you drive. Half of your day is going to be one of those four things. So if you're like, I'm going to reach out to every person I know, cool. You look at your emails, every single contact you've ever had.

29:36You look at your phone, every single contact you ever had. You look at your Instagram, all the followers you have. You look at your Facebook, if you guys even have Facebook. Look at all the Look at all the friends you have. Guess what? All of those are leads, but not in the way that you would imagine. You're not going to go pitch your mom on something. What you are going to do is ask if she knows somebody. Right? And people are way more willing to help someone out if you're saying, "Hey, do you know anybody who has this thing?" Right? Now nine times out of 10, if they actually want the thing, they'll continue the conversation with yourselves, but you won't seem sleazy.

30:02Does that make sense? So >> Thumbs up guys if you're Yeah, give them some energy back. >> [laughter] >> So those four things are the four ways that you can promote something on your own. The other four ways is that you get lead getters. You get other people to do it for you. All right? The first way is you get your customers. This is again once you have a customer. You get your customers to get you other customers, which is putting strong referral systems in place, having, you know, strong communication with them on a recurring basis, giving them incentives to do so, etc. And honestly, just having a great product.

30:36The second is that you get employees to do it for you. So the four things that you were doing, once you get that systematized, you get somebody else to do it for you at a margin. So, if you make 10 to 1 on your time and you can pay someone three of those 10 to do it, then you get three to one on someone else's time and that scales without you. The third way is that you get an agency to do some of these things for you. Now, that's probably beyond the scope of what you guys are doing, but like you can get agencies by platform. I like to use agencies to learn new skills. So, if you want to learn how TikTok works, getting an agency that specializes in TikTok to make content, that would help you decrease your learning curve faster, but you're trading money for ignorance debt.

31:13You always have debt when you start a business. It's just question is what kind of debt you want to use. You can have financial debt, you can have ignorance debt, you can have management debt, you can have technical debt. There's lots of different types of debt and all businesses start in debt. It's just not always financial. The uh last one is affiliates, which is the most advanced strategy, but also one of the most powerful, which is if we were selling massages, right? Like right now everybody here could go make a massage business for yourself and make 100 grand a year.

31:39Easy. You No employees. Super simple. You go to every business in the area and you say, "Hey, when you hire a new employee, give them a free massage from me in your new hire packet." Great. Employees come into your place and they they get a free massage and you upsell them more massages. It's not like it's Does that sound like crazy simple to everybody here in terms of like how this works?

32:04Right. Like you you absolutely can do it, but all of these things just take effort, right? And and I think uh the big thing is like when I was 19 and 20 and 21 and 22, my perspective on what a long time was uh was very short. And so, I remember being like, "I'm going to make a ton of money in 6 months." I hadn't even quit my job in 6 months. >> [laughter]

32:29>> And once I started, it took me 5 years to like actually make real money. Years. So, like the entire time that you've been in college plus some, working 80 hours a week and just basically making enough money to feed myself. And I I say that because like everyone has this like wildly unrealistic expectation, but it's also the thing that keeps them poor.

32:54Is that they always want to take these big grand slam swings, and as soon as they strike out, start something brand new again. And in the beginning, that's the exciting thing is like I want to start something new or you know, try whatever. But, the way that you'll ultimately win is getting really good at something. And you get really good at something by doing it many times. And to do something many times, it takes a long time. And if you're going to enter into a marketplace, one thing that I will tell you is you have to respect your competition.

33:23Like there's a guy who's 10 years older than you or 20 years older than you who's been a mechanic for that long and has 20 locations, and he's not an idiot. And so, a lot of times we want to do something incredibly new and different, but there's also a reason that that guy has 20 locations. He's doing something right. And so, often times in the beginning it's worth modeling what other people are doing to just learn how it works. Because like again, you don't have the perspective in which to make a judgment.

33:52Once you get an Once you can replicate what someone else has done, then you can start iterating on top of that and make it your own. I think I I think I think I hit. I think I hit. Don't skip the process, the $100 team of five, starting [snorts] a business. I think I got all of them. So, I want to open up to you guys.

34:18You guys want to actually start businesses, right? Thumbs. How how Are all you guys seniors? >> They're like juniors and senior >> Okay. >> And the software >> Here's advice. Start it now. Like you have all the safety in the world right now.

34:44You have all the safety in the world and you honestly have so much time. Like you probably don't think you have time. But like you have time. >> [laughter] >> And so like take the extra time and get your feet wet. You might find out you don't like it. Which is fine. And then just go do something that you do like and it doesn't have to be entrepreneurship at all. But find [snorts] something like find something that you've suffered from personally, figure out a way to solve it, make it easier, make it faster.

35:12The easiest way you can do it. I'm talking small businesses. Otherwise, if you want to go do a venture round in Silicon Valley, like you're probably not talking to me anyways. Thanks Amber. I appreciate the thumb. I got I got I got a I got a low thumb from Amber. I got the I got a low thumb. I can appreciate it. >> You can't hear the clicking of the keyboards, is it? >> No, you're good.

35:39>> Yeah. So can we can we get a round of applause for enjoying this so far? >> Oh, you're good. No, you guys are good. I just I just like I've talked to you guys. I want to make sure that I can like actually Teach by the definition that I have is that after this that you change your behavior. Which is like if you want to start a business, then start the business. Like I just went over the eight ways that you can get a customer. Right? You know how to LLC, bank account, way to process money. Cool, you have that.

36:08That's what starts that's what gets all the infrastructure in place to start the business. Then you talk to people you know. And then you ask them for a credit card in exchange for doing the thing. That's it. Now, if you want to be smart about it, which I recommend you do, give away the thing for free. In the beginning. Give away the first five, 10, 20 for free. Couple reasons. One, you don't know how to sell yet. So, you probably suck at it. And it's a lot easier to sell something for free than sell something for money.

36:35So, that'll just help you not get in your own way and get some wins under your belt so you get a little bit of like emotional victories of like, "Hey, I've got like a little business going here." You'll do it in exchange, whatever your work is, the the service, etc. And I I like people starting with service businesses because you don't need capital. You just got time. That's all you have to do. You don't need any time. And nowadays, you don't need a storefront, you just need an internet connection. So, you start with the service, you help people do it for free, and you do it in exchange for a review and ideally a referral if you do a good job.

37:08And so then, you can use the reviews and the testimonials from these free people to then actually ask new people who are strangers for money. And if you do a really good job, which I recommend you do, if you truly solve their problem, they will want to continue buying from you when you stop offering it for free. If no one wants to buy from you, this is important, you ask them why. And what they will tell you is the hidden costs of the thing that you have done. And so often times, the most expensive thing about your product or your service is not the price, but the things that someone has to incur, the costs that they have to incur outside of the price.

37:46So, it's the time that is associated with working with you or preparing stuff for you or corresponding with you. It's the effort and the sacrifice, meaning things that they have to start doing that they don't want to start doing as a result of doing business with you or things that they have to stop doing that they would like to keep doing, but they can't because they're working with you. And so it's both sides of the coin there in terms of effort, things they got to start, sacrifice, things they got to give up, and whatever I said earlier.

38:13Just whatever I said earlier. You got it. It's recorded. >> [laughter] >> Right? And so we're talking about these things um that's how you can get your early yeses, transform those yeses into paying customers. And if they don't become paying customers, you ask them why, and then you iterate and improve the product or service. And you want to keep doing that, and this is why I recommend doing this now, cuz you don't have stakes right now. Like all of you somehow are able to eat and afford stuff, so like you're okay.

38:44Is you keep this iterative process until eventually everyone wants to give you money, and you don't have capacity to serve them. At that point, you have the supply demand curve in your favor. You have leverage. And now you can ask for money. And now you can name your price. So it's the like the whole reason the whole influencer Is it Matin? >> Yeah.

39:08>> So the whole reason the influencer model like fundamentally works is because it shifts the supply demand favor Sorry, the supply demand curve in favor of the influencer. And so if you have 70,000 or 20 million people who want something from you, you've got a huge demand curve. And so if you only have capacity, for example, let's say Kim Kardashian says, "Uh who wants to spend a day with me?"

39:37And she just makes that a story on her thing. And she says it's a million bucks and we spend the whole day together, and it's me and 10 people. Well, if she had 100,000 followers, she probably would not get anyone to buy that. But she has 300 million followers, and so she doesn't even need 1% of her followers, which would be 3 million people. She needs 0.00001% of her followers to say yes.

40:03And [snorts] so the entire reason that the influencer model works is that it just creates or stimulates demand. And that's why in the beginning you should spend all of your time letting people know about the stuff you have, because it's probably not good enough yet, and you need to run people through it to figure it out, which is why I recommend doing it for free because it will probably suck in the beginning because you haven't done it many times. So, get them in, suck a little bit, do it 20 times more, suck less, ask them to buy, if they say no, ask them why you think why they think you suck, fix the reason why they think you suck, ask them to buy again now that you fixed the thing, if they still don't want to buy, ask them to at least leave you a nice review and send a friend, hopefully.

40:48That's the process. That's it. Like I'm just like that's it. That's the whole thing. That's all you have to do and like if you if you just do that, you can make 100 200 grand a year. I don't know what your goals are, but like if you just did that, you can make 100 200 grand a year. >> Um I'm probably being naughty in not having them set up LLCs before they go out and ask people for money just to get that experience and >> Well, it's below 10,000, so you're like whatever. It's fine. Yeah.

41:14>> Um but they they have to make the decision at the end of the semester whether they actually want to take it forward whether they they have validated it as as viable or not. But to your earlier point around influence, something that I'd love to ask you was, you know, you have been saying for a really long time that you don't have anything for sale apart from your book. >> Yeah. >> Um and you don't have masterminds, you don't have courses. A lot of other people are doing this. So, I'm curious why you're not doing that and also what you think of courses, masterminds, that sort of thing.

41:44>> Um as a concept, there's nothing wrong with them. Education is the thing that I'm I'm always a proponent for. Um I think the issue with many of the education businesses that exist today is that they set false expectations. And so, the reason that most people don't consider college a scam is because the expectation that is set in college is basically nothing. Like you just pay and you get what you get and good luck.

42:11More or less. With these courses, they'll charge $10,000 and they set the expectation that you'll make $10,000 a month in 90 days, and that's not the majority of the of the case most of the time. And so, um my So, that's that's fundamentally different. So, if you can appreciate those things and understand that you might have to go through many of these little what I would consider alternative education systems, one, look for one that has a ton of reviews that are really positive. Two, look for somebody who's been doing it for a long time. Um and three, don't expect that it will work the first time.

42:43Expect that you will be better and you will be directionally correct and you'll get closer to making money. That's That is like if you set that expectation, then it becomes a lot easier to win. Also, there's a ton of free information on the internet that you can use. So, most of the time, the payment is for other things, which would be like accountability and community for the most part, and troubleshooting if you need it. But again, there's a lot of information about how to troubleshoot stuff, too, on the internet for free.

43:13And in terms of why I don't sell stuff, uh it's because I buy stuff. That's how I make money. So, I use my influence uh to create demand, but my demand is in the form of deal flow. And so, that means that I get companies who are doing, you know, 1 to 10 million a year in profit, and then I can invest in those companies and help them go from 1 to 10 to 20 to 30 and beyond. And for me, it's a much more efficient monetization system, and it also in my opinion, which is why I do it, um builds a better brand.

43:45Because if all I've ever done to 99.9999999% of people is just give them value, cool. >> Awesome. Um do would you like me to open it up for >> Yeah. No, that's exactly what I want. Yeah. >> Does anyone have a specific question they'd like to ask? >> Yeah, Emil. I think he's >> Emil, let's do this. >> But, do you have a question?

44:15>> All right, can you hear me? Okay, so uh >> [snorts] >> most people say fail fast and learn from it. And um well, my thought process is like, how can you fail faster? And then how do you actually like like discern if you're like actually learning from your mistakes? >> Learning, right? Are you doing the same behavior in the same circumstance? If you have the same circumstance and you change your behavior, then you have learned. So, fail fast is like, I ran an ad to a landing page. I did not make any sales.

44:45What do I need to change? If you change something, you have learned. If you knock on a door and the person slams in your face and you knock on 100 more, and eventually somebody does not slam the door in your face, you have learned. >> Did that answer your question? Yeah, cool. Thumbs up from him. Any other questions? >> I'll give you something in the meantime while people think of their questions. I see the guy in the back. While you While the mic Yeah.

45:11While the mic makes it there, I'll give you guys what I call the rule of 100. Which is, if you do 100 primary actions every single day, the first thing you do when you wake up. When I say primary action, it means 100 reach outs to people you know. 100 reach outs to people you don't know. 100 minutes of making content. Spend 100 bucks on ads. Whatever. If you do that every day, and if 100 bucks you can you can change that to your budget, right?

45:38If you do that every day, and you do that for 100 days straight, I promise you you will have a business. No one does that, though. Because again, it's not hard to beat most people. >> [snorts] >> Emil, shoot. >> Yeah, [snorts] Aaron in the back. >> Yeah, I hear you. >> Cool, yeah. So, when you're talking about running an ad and learning from it, how do you actually measure the sample size? Like, when you did the 300 flyers, then that was nothing compared to the 5,000.

46:13>> Yeah. >> How do you establish that? >> Depends on That's why having 100 days of doing it gives you enough of a sample size to get better. And in the micro, like, I would not recommend starting with paid ads as my first thing I ever did to to get new business. Like, I like people starting out with warm reach outs because you get to talk to people. You get to hear the language they use. You get to hear them describe themselves and how they identify so that you can call them out later in your [snorts] ads. You can hear how they describe their problems in their words so that when you describe it back to them, they'll say, "Man, that guy really understands what I'm talking about. He understands or she understands what I'm suffering from. I will buy from them because I can trust them now."

46:50And [snorts] so, it's really going from a scale of leverage. Uh if you do 100 reach outs for 100 days, it's 10,000 reach outs. Like, you'll get a customer. It's a lot of reach outs. And especially if it's the people that you know. >> [snorts] >> Typically, by the way, if you're curious, looking at 1% is usually a nice benchmark for any kind of cold activity.

47:14So, if you were to do 100 reach outs, it ends up becoming X conversations, Y follow-up conversations, then a sale. So, that's just an easy benchmark for to use. And in the beginning, maybe you you suck three times more than the benchmark. So, it might take 300. So, what? The next time it'll take you 200. The next time it'll take you 100. >> Okay, I have another question. >> Shoot. >> So, whenever you first start to get like large amounts of spending and the numbers sound a little bit too good to be true, like, how can you vet those and like, how do you know like what some percentage of person is taking from your business?

47:48>> I'm sorry. What I'm sorry. Yeah, say it again. >> So, whenever you like first start to see like substantial like investment to your business, and then how can >> That part I'm >> right there. So why would I receive lots of investment into my business? >> Okay, so uh I'm going to give my I'm going to give a quick this message right here. So I run two stakes which is like a party promoter. Uh we I throw parties for uh college students. >> Cool. >> And recently I went to like a marketing party and um most of the marketers trying to target like my uh my target audience is what their target audience is. And they're right now they're going a bunch of like [snorts] huge numbers out the floor for me. And like I'm not too sure like whether or not these numbers actually look to be true. Like how do I like uh

48:28>> They want to buy your business from you or they want to buy a percentage of your business? >> Uh they want to just like be able to like uh monetize the customer audience uh from me. Uh for example, if one of them I like do I like 20,000 to be able to like uh just be able to like have like uh exclusive like rights to like be able to like promote their company at my parties. >> Right, you're an affiliate. So those eight ways >> Yeah. >> They're using affiliates and you are the affiliate for that.

48:55>> Yeah. >> Yeah, so I mean due diligence is just what it's worth to them. I mean the market rate's the market rate. They're if they're willing to pay 200,000, sure. It means that they probably have a good way of monetizing. And I mean you think I'm assuming you have probably what? Like a list of 500 chicks that you bring to you know promote for bars and things like that. >> 1,500. >> Great. So you have your list of chicks, you promote whatever the you know it's taco Tuesdays, whatever. It's tequila Tuesdays at Marleys or whatever, right?

49:26Thing is is like those bars make good money on every one of those promotions. And if they got exclusive rights to your 1,500 person list, then I mean that's like a $200,000 marketing budget for a whole season or 9 months of the year for a bar or a club. Like the question is how much does the club make? Club making 4 million? 8 million? What are their margins? You know what I mean? Like if they're willing to do that you could probably get more of the upside if you guys put more at the door.

49:57You know, like that's not my business, but I'm just saying like I don't I don't see any reason why it would not be legitimate. >> Okay, thank you. >> Yeah, the key thing that I would watch out for is that [snorts] the asset you have is the audience. And so you want to make sure that that stays your asset because if they then get access to the entire audience, then they paid you $200,000 and then at the end of the year they have all 1,500 chicks and then they just text them.

50:29>> Okay. >> Hi, uh slightly separate from the conversation that's been going on. I was wondering what would your daily schedule of like how do you organize your day? How do you organize what you have to do? >> Oh, I can't share my screen. Okay.

50:52Um I was just going to show you a big blank schedule that has uh mornings empty and then I have lunch at noon. And then in the afternoons I do meetings, calls, whatever. And so for me >> sharing uh privileges now. Sorry about that. >> I did feel under-privileged as an aside. >> [laughter]

51:19>> So, uh every day for me I just like keep open um for the most part. And then the afternoons is when I do my meetings and stuff. And then Friday afternoons I usually don't. But like the big thing is you don't model where I'm at now, you model how I got here. Cuz they'd be like, "So, how do you fly, Alex?" Like, "Well, I take a jet and I fly private and it costs me 50 grand every time." Well, then that's what I should do in order to be like Alex. Like, no, that's not going to that's going to be a terrible decision. So, right?

51:50Like you want to get tall, start playing basketball. Like it doesn't work that way. So, um I worked every hour of every day. I slept at my business uh for the first 9 months. Um and I I didn't have a social life at all. Um but like for me, that was like that was that was more important to me, you know? That was the thing that mattered most to me. And if it's not the thing that matters most to you, that's fine. And are there people who succeed without doing that? Sure.

52:18That's just how I did it. So, for me, it's just like I want to pay my ignorance tax down as fast as humanly possible. And so, like the fail fast thing that we're talking about earlier, like I just want to get as many of those no's, as many of those mess-ups in as fast as I possibly can. And everyone here is in so much debt. Like you guys are in debt up to your eyeballs. Not financial debt, just ignorance debt. I'll I'll paint you the picture.

52:41So, right now, why are you guys all not making $10 million a year? Cuz you don't know how. And so, right now, it costs you $10 million a year in ignorance debt that you pay every single year not knowing how to do that. Like it's a far greater debt than your credit card bill. And so, like I like to think of that as like that's the big debt that I try and take down as much as I can every single day. And that's why for me, my my whole purpose is learning. And I try and pass on whatever I can, um you know, along the way. But you only learn through doing.

53:18And if that's like if that's the only that's the only change of behavior that I can have for everybody here is like we went through eight ways that you can get customers. You know how to get you know, you're skipping the LLC thing, that's fine. You have eight ways to get customers. Pick the easiest one. Ask them if they know anybody. Do the work for free. Do a good job. Ask them for a testimonial or a friend. If they say no, ask why not, fix the problem, and then keep asking and say, "Hey, if I fixed that, would you then buy it? If I fixed it, would you then buy it?" And then fix it and then ask him to buy it.

53:54Does this sound straightforward? That's it. >> Yeah. >> That's it. And then you add 30 years. >> [laughter] >> I'm dead serious. I'm dead serious. You just add time. You know, and I I don't know who was the party the party business, right? Like, okay, that's a business that you like. Uh I have a an acquaintance that did that business for 14 years.

54:19Um and then during COVID, he got screwed. And so then he started a podcast. And so then his podcast ended up blowing up and then he made more money from his podcast than he did from than he did than he did from the party planning. Thing is, it's very difficult to scale that particular business. And so it's like, again, some of these opportunities have caps or not caps, but it's just very difficult and the incremental effort to do more would be better allocated in a different opportunity vehicle.

54:45And so like, try to take things to their logical conclusion. Like the other day, I had a I had a call yesterday with a big community of blue-collar workers. So a lot of guys, HVAC, plumbing, auto services, things like that. A lot of business owners, one to two locations, things like that. And they're like, "You know, I'm trying to build a product because I can only service my small market, right?" I was like, "Well, that's a bunch of horse [ __ ] I've got 38 locations of photography studios. Like, why is that? Why just open another one?

55:10Like, you just keep going." And so like, if you if you just consistently try and do more and better every single year, and you don't convince yourself that you're smarter than you are, and you stick with it, it will compound. It's just that things take longer than everyone expects them to do, and then they keep changing their course, and that's ultimately what guarantees that they don't get there. >> [snorts] >> The success is more of a character trait than it is intelligence. As you can probably tell from this company.

55:38>> Um wow, I I think this has been a really amazing >> I got a low I got a flaccid thumb from Amber. I'll take the flaccid thumb. Thank you. >> What's that? >> Nothing. >> A classic thumb. Yeah, yeah, yeah. Is I'm I know we're running over time, but is there anything that you want to leave these guys with before we let you [clears throat] get back to running your empire and changing the world? >> You're good.

56:02Guys, just start. Like if you actually do the rule of 100, who here actually thinks they'll do it? Just be real with me. I don't like I it won't hurt my feelings. Okay, cool. That's it. Like you'll do it and then you'll see that it is not that hard. Just confront the work cuz the thing is there's a lot of people I'll tell you the story to end it. So, when I started my gym, I was very afraid of tech. I still, you know, still probably am.

56:27Um and I hired somebody and I spent $5,000 on a website. And it was I did not have a ton of money. It was a lot of money for me to get this website done. And for the next 3-4 years, I paid recurring monthly fees to this website developer and it was always a pain. It didn't look the way I wanted to look, but everybody was it wasn't my hat. And so finally, I got so frustrated um with this this service provider and I knew that he had put some junior person on my account making 10 bucks an hour who was you know, actually building the site. And I was like, if this [ __ ] can do it for $10 an hour, it can't be that hard. And so, I committed to sitting down on one Sunday and I was like, I will sit down every Sunday for 8 hours a day and try and learn how to build a site. My whole goal is just to copy my own site onto just another like just copy the site up that they had made.

57:14And so, I had planned out every Sunday until I got it done. It took me 4 hours the first Sunday and then I figured it out. It took me 4 years to decide to take the first 4 hours. And so like sometimes you just have to confront the work, right? The thing is that like if you can name the thing that you're afraid of, it's like I'm afraid that somebody's going to think I'm not cool by asking them to go buy my thing. Okay. Great. Do you want that to be the reason you're poor?

57:40Is that a good enough reason? If that's a good enough reason, cool. Then like that's my reason. Fantastic. And someone's like, "Why aren't you successful?" I didn't want anyone to think I wasn't cool. That's fantastic. You know what I mean? That's good for you. But for some people, that's probably not good enough reason. And for many of you, it might not be that person might be person in your head, your mom, your brother, your uncle, your whatever. Like, when you're afraid of failing with something, we like to think like I'm afraid of failure.

58:05But we're really not. We're afraid of like one to three people in our lives whose opinions we care about. And if you can name the person whose opinion you actually care about. And sometimes it'll surprise you. It's like, "Really? I care about Sarah's opinion? [ __ ] Sarah." Right? I care about Sarah's opinion, right? And then you realize and then then you re-ask the question. It's like, "Is Sarah's opinion the reason that I'm not going to go after what I want?"

58:33And as soon as you ask it like that, you're like, "Well, yeah. [ __ ] Sarah." Right? And so like that that that exercise has helped me a lot in taking the big steps that only in retrospect seem tiny. So I probably make this and I'm like, "Yeah, it's so easy. Just do this and that and that." Right? Like but like a lot of the things that make it hard is just fear. The actual tactics are not difficult. They're hard because they're emotionally There's emotional toll and it's hard in that you have to be consistent with.

59:01That's the hard of this. The figuring out piece is not that hard. It's not complicated. It's staying with it. That's the [clears throat] hard part. It's like working out. Eat less, move more, do it for a long time. It's just the doing it every day for a long time is the part that people [ __ ] up. And so business is the same way. So if you can if you can commit and be the type And that's where I like having whatever that fuel is, use what you have. If you're if you're angry, you're ashamed, you have some, you know, dark trauma that you you don't like to you only tell your special friends about, use that.

59:33And if you had an amazing upbringing and like a well-balanced household, fantastic, use that. You know, use whatever you got. But as long at the end of the day, you don't have to deserve success because you can still get it anyways by doing the stuff that creates it. So just do the stuff and skip the whole like message to yourself of whether you deserve it or not. That's all.

59:58>> I love that so much. So great. I can't thank you enough. Guys, can we give him a massive round of applause? I hope you can hear this. >> Oh, yeah. Oh, it's it's like a a school of the mute. It looks like everyone's just like silently clapping. It's nice. >> [laughter] >> Yeah. >> Um is there anything we can do to help you, support you, thank you? >> Uh no, I mean y'all are good. I appreciate I mean this is really more me giving you guys. Um I've I've I've benefited a lot from society, so I'm good. But I appreciate it.

1:00:29>> We appreciate you so much. Thank you so much for giving us your time and your insight. Um you know, it means a lot to to me and these guys to hear from you um and take time out of your day. So thank you so much. >> You bet. Do me a favor. 100 days, 100 reach outs. Do it. And Athena, let me know what the results are. >> What's that? >> Let me know what the results are. Yeah. Let me know who wins.

1:00:53Let me know who wins. >> We will. We've got about like 4 weeks, so we'll just try to compress it until the end of the semester. >> Yeah, then do do 200 a day. Do 200 a day. >> Who's up for it? Who's going to do 200 a day for the rest of the semester? >> Just so you guys know, just so you guys know, that'll take 4 to 6 hours a day. It's like, "Oh [ __ ] work."

1:01:18[ __ ] who thought making money was easy? >> [laughter] >> Yeah, like real [ __ ] Like it takes time, you know? But, being poor sucks, too. And so, like they both suck. Just one of them makes you money. So, whatever. >> [laughter] >> Love that. >> Athena, appreciate you guys. Class, you guys are awesome. Um thank you guys and I love hearing the the the the businesses that have been started on the side. Just start now. Just confront the work. Skip the 4 years of waiting. If you like this video and you're a business owner who wants to break through your current revenue ceiling, I just sold every lesson from scaling 10 businesses past 10 million and three businesses past 100 million into a completely free scaling road map that I've used to go from zero to one, zero to 10, and zero to 100 plus. And so, you can click here and you can check it out.

1:02:00Again, absolutely free. And since you're a business owner, I appreciate you and enjoy.