Was ich getan habe, als ich pleite war

0:00When you're broke, every dollar means so much to you. But and you want to see the dollars in your bank account go up. But I never made that my goal. I made the amount of money I made every month my goal. Because I saw that as my like potential energy versus stored energy. Not to get I mean, whatever physics people, you get what I'm saying.

0:25And so, I was willing to take that stored energy and reinvest it to take $5,000 a month in income to make it $6,000 a month. Cuz I knew that over a year, I was going to make 12. And so if it cost me two to make the 12 in income, I would make that trade every time. And so whenever I'd save up a small like nut, now obviously, I've always been pretty good at about spending money. Like I I I haven't had that that habit. So like again, foundations. Like first, it's your fault. Second, spend less than you make. Third, take all of the excess and spend it on making more. Because if you're making minimum wage, I'm going to say what you probably already know. You're not going to get ahead. Like you're not going to save your way there. You're not. Like everyone loves to tell the story of that one girl at McDonald's, but you know they don't tell? The other 100 million people who worked at McDonald's over the over the world who didn't make it. And like the outcome they're talking about is like she made a million dollars over 40 years of working at McDonald's. Like you can shoot for more.

1:23And so, like take the money you make, live on nothing, and the hard part is to swallowing the pride for the fact that in the short term, everyone's going to be right when they say that you're amounting to nothing. And that's the tough part. That's the glass that you have to you have to swallow, that you have to pull towards you. And there's just no other way. Like you have to learn the skills. Now, I mean, to be fair, YouTube didn't exist when [laughter] when I was doing this.

1:50And like Instagram was like a new platform. So like all this stuff like the stuff we have today is crazy. Like the stack of these videos in this podcast like all the stuff that didn't exist like I remember when podcasting came out. Like I was already a business owner. >> [laughter] >> Like none of this stuff existed. But at the time I just took all the money I had and I I want to I want to make this point again is that people think that the money is about buying courses and stuff like that and you can. Like there's nothing wrong with that. I've learned a ton from a lot of the stuff that I've bought to be really honest with you. But I think that I've always had an amazing return on education because I always did it.

2:21And I think like I always wanted to be the best student in every class and I was good at school and I I I just took business as a different other another type of school. But part of the expenses that come into like when you take that money for is experiments that fail. And so one of the things that happens when you're broke is that you bet on stuff and then it doesn't work and people feel like they're back at zero but you're not back at zero. You're at where you were plus one experience. Plus two experiences, plus three experiences, plus four experience. But when you have plus 18 experiences all of a sudden boop you level up one.

2:52You get experience points. There's a reason in video games called experience points. So you didn't trade it for nothing, you got an experience point. And then with enough experience points you get to the next level. And so I think if you just even thought about it like that it's not a loss but an experience point. It could get you could bridge the gap between your current income level and the income level that you want to get to. And then guess what? There's more experience points that you have to get there. And those experience points also cost more money. Because when you take a bet in the beginning and when I say it costs money it's like if you run an ad and it doesn't work it costs money. If you want to set up a Shopify store or an e-commerce store and you spend 30, 40, 50 bucks a month, whatever, it costs money.

3:27Um and it does you know like all of these things cost money to start. Now mind you it cost a lot less than it did in the 20s when you had to mortgage your house and guarantee that you'd win or you'd lose everything forever. Um so like the bar hasn't ever been lower than it is now but there still is a bar and you have to get over it. And I still think that the vast majority of the that people trying to get over has nothing to do with the difficulty of business but the first step, the foundation, which is it is my fault that I am here.

3:51And in it being my fault, I am the one who can get me out of it. It sounds like in that stage three when you start experiencing and investing in that, and let's say the the kid who has a failed drop shipping experiment or starts a school group and they want to win the school games, but they don't, their measuring stick for whether or not they're doing well [snorts] shouldn't be how much money they're making. Or should it like should they be thinking about money at that point or So, the wealthiest people I know only think about skills. They think about what can I learn and then what can this skill get me. And so, they will always take any money they can to buy more skills.

4:31And in the beginning, you have to buy all the skills yourself. Once you have enough skills that you can generate an excess of income, you can start buying other people's lives. And what I mean by that is like everything comes down to buying time. And so, at some point, you're 10 years into your career and you have a handful of skills, but you can buy someone else's 10 years of skills by just paying them to do something too. So, you don't have to learn all those things. And so, you do need to get good at stuff and then eventually you generalize to being good at people. And that's pretty much always the path for everyone. Real quick, if you're a business owner and you're not growing as fast as you'd like, I'd like to give you a free gift. So, my team and I put together the $100 million scaling road map, which is basically 200 hours of us looking over all the portfolio companies we've had and what stages of growth they went through and more importantly, where they got stuck and how they got past it. And so, we broke it into 10 stages and we made this little kind of quiz thing where if you put in your business information, it'll tell you where you're at and the most important part for you, what to do for each of functions of the business across product, marketing, sales, customer success, recruiting, IT, human resources, and finance. And so, no matter what you're struggling with, someone else has already struggled with it and solved it. And so, I'd like to give you this thing absolutely free. You can go to acquisition.com/roadmap, plug in your business information, and if you want us to actually help you deconstruct the business and you're trying to scale, we'd love to help you out. On the thank you page, you can book a call with my team, and we will look at your business, see if we can help, and if we can, we'll invite you out to Vegas, and we'll do this in person, live.