Wie man vor 30 Millionär wird

0:00I want to be a millionaire. >> No. >> What would you say to him? What advice would you give to him? He says, "Listen, I've heard you doing all these podcasts. You're running around. I've been filming the camera, but I've been filming. I've been listening." >> Yeah. >> And this millionaire stuff, this sounds amazing. >> So, what advice, how old are you, Caleb? >> 29. >> What advice would you give to 29-year-old Caleb if he said to you, "Alex, how do I how do you knowing me, how do you think I become a millionaire?" So,

0:26>> there's a lot of ways to do it. It just depends on which way you want to go. So, say first off, you can stay at acquisition.com. That'll probably happen on a long enough time horizon just because we're going to get really big. We're already pretty big and we're just getting started. Um, so like I I genuinely believe that and that's 100% my goals that every single person that that we have um becomes very very wealthy. Um, because I'm going to die and it's not going to matter anyways and if everybody else can make some too, great. Um, so that is a path. Another path is he peels off and goes on his own and starts a business of some sort. And so it depends on whether he wants to make the business itself what his core skill is, which would be like media and maybe services around media or using the skill that he has of media in an opportunity and he gets two or three other people to maybe co-found it with it who have other complimentary skills and then he just runs that division or portion of the business uh within the larger context. And that's like a classic question of like, I'm really good at making wallets. Like, what do I do? It's like, well, you can continue to make them and then when you can't make as many as you have demand because you're so good at it, you can either raise the price and just continue to keep raising the prices until eventually you become Versace of of of wallets and you make tons of profit, but you don't have tons of units and that's okay and you're a luxury brand. or you put on the put on the business owner hat and you say, "Okay, how do I mechanize the wallet building process and I become more businessy?" And so I think it's like, do I want to be the artist or do I want to be the entrepreneur? Both of them are fine. It depends which one you feel like you're more naturally inclined to or have a higher likelihood of success doing. I like the game of business. I've played lots of different games in terms of industries. Like I like the game overall. I don't feel like I have a particular art. Like I don't think I'm really good at any aspect of business. I feel like I've been decent enough to not make one of them the constraint. Like I'm not a great copywriter, but I'm good enough that that's not going to be the limiter. Like I'm I'm good enough like I'm good enough at hiring that I can make sure that that's not the limiting factor, right?

2:24And so that's kind of how I think about it in terms of business growth overall. And so it' be the same thing with Caleb is like we have to identify what the constraint of the of the system is and then deconstrain it. >> When you say talent stacking, I've heard you say that a few times. What do you mean by that? So, this is one of my favorite topics. Um, many skills like 1 plus 1 equals five when you put them together. So, let's say you have somebody who's really good at math in the beginning that as a skill not super monetizable, right? Okay.

2:54Well, then you learn bookkeeping. Okay. Well, now you had a proclivity for math, but you learn something that um has value in the business world. Okay. Then you learn to, you know, you get your CPA, now you become an accountant. Okay. More valuable. Um then you start studying around uh tax law and insurance and you're like oh significantly more valuable. Then you learn how to how capital markets work and how debt markets work, right? And and you understand how mergers and acquisitions work and all of a sudden you're a CFO and then you learn how to sell and promote a little bit and all of a sudden now you're a rain maker. And so you still needed to be good at math. But when you stack these other skills on top of it, the original math skill becomes significantly more valuable when you have these skills on top. But each one kind of requires the one before. Which is why one of the things I hate about kind of the entrepreneurial world a little bit is like they'll learn something new and then poo poo the thing before. It's like I'm not upset at the teacher who taught me arithmetic because I learned algebra. One was necessary for the next. And so, um, as entrepreneurs, a lot of times it takes, I think, the self-awareness to say like, where am I at on my skill stacking adventure, right? And each skill, every skill you add to your skill tool belt makes the rest of your skills more valuable, which is why I think it's so cool, which is why I'm such a big advocate for education overall. And that's I mean, mission of acquisition.com, make business accessible to everyone. Um, that's why you put all this free stuff out there is because like if we can give people enough skills, they'll be able to stack them on their own and then just achieve whatever they want in a totally different way if you allow me to go there. It's like you look at Jay-Z, right? Maybe he was somebody who naturally had rhythm, right? And so then all of a sudden he learned how to rap.

4:30Okay? He took his rhythm, put in a rap, okay? And then he made his first GD. Okay? And then he learned how to promote. Oo, significantly more valuable. And then he learned how to make a label. And then he learned how to recruit other artists. And so he still needed to learn how to know how to promote the other artists. If he didn't know how to promote at all, he wouldn't have been able to do it. But once he had the label, he got significantly more leverage on the skill of promotion. And he could recognize people because of his skill in rapping and rhythm. And so like each of these skills stacks on top and then eventually he he pinnacled into Beyonce as his as his top skill. I'm just kidding. Um [laughter] like where is he going? Um but no, but like that's the idea. So like it and that's why I'm just like learn the skill, find the next skill. And and the nice thing is that it doesn't even matter how desperate the skills are.

5:18Like if Jay-Z is really good at math and understands capital markets and understands the label, those combine to into another cool malange, my little French word, like mix of skills that's like unique to Jay-Z. And the longer you play the game, the more skills you get and the more unique your mix of skills is. And that to me is like the coolest part about business and just like education in general. Real quick, if you're a business owner and you are 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 roadmap, 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 in these 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 deconstrain the business and you're trying to scale, we'd love to help you out on the thank you page. You can just book a call with my team and we will look into business, see if we can help, and if we can, we'll invite you out to Vegas and we'll do this in person …