Latest / Success Story with Scott Clary / Adrian Brambila - Serial Entrepreneur & Author | Why You Need to Start Thinking Rich
Transcript
- 0:00I had no idea what I was doing. It took me two years to make 45 cents.
- 0:03Making a lot of money doesn't actually have to be painful.
- 0:06The more value I put out, the more money I make. There's no limit to that.
- 0:09Adrian Brambilla started out chasing his passion, performing on stage with one of the biggest names in music.
- 0:14But when the tour ended abruptly, he found himself at a crossroads.
- 0:17Back to a nine to five, earning $27,000 a year as a customer service rep.
- 0:22When I started outsourcing, I learned that I was the bottleneck to my business.
- 0:25When I first made that $1,000 instead of feeling amazing, I actually felt guilty.
- 0:29Because I had fun. I had a truly changed like from scarcity mindset to abundance mindset.
- 0:33My entire lifestyle today is paid for from my investments in income.
- 0:36Behind the desk, Adrian discovered something extraordinary,
- 0:40the everyday secrets of financial freedom.
- 0:42By the age of 32, Adrian had transformed his life completely,
- 0:46building a $4 million net worth and creating multiple income streams,
- 0:49all while living in a converted van and traveling the country.
- 0:52I'm not operating anything I do based because I need to because I want to.
- 0:56When you have financial freedom, you don't really have money problems.
- 0:58You have life problems. So it's important to find things today that truly you love
- 1:02and you spend money to do that.
- 1:04In this episode, Adrian breaks down.
- 1:06Why credit card debt is the American Dream Killer?
- 1:08How minimalist habits became his wealth building superpower,
- 1:11his blueprint for creating multiple income streams?
- 1:14This is the story of a man who turned setbacks into success,
- 1:17redefining the meaning of wealth along the way.
- 1:18You don't own anything.
- 1:20The more stuff you own, it actually owns you.
- 1:22Successful people, they have an internal locus of control.
- 1:25Money, I don't think there's a limit on it,
- 1:27but you have to work hard on lifestyle design,
- 1:29otherwise you get lost.
- 1:33Welcome to Success Story.
- 1:34I'm your host, Scott Clary.
- 1:36The Success Story podcast is part of the HubSpot podcast network.
- 1:39HubSpot has been a huge supporter of the show.
- 1:41And I'm happy they are because I'm a huge believer in HubSpot.
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- 2:50Adria, I'm excited to do this, it could be a lot of fun.
- 3:00I'm pumped.
- 3:01This is, I want to start off with this.
- 3:03It makes it be an interesting way or an interesting perspective
- 3:05just to tap into sort of your origin story and your history.
- 3:10Because you started really understanding dance and entertainment.
- 3:14And that was your world for a long time.
- 3:16Were there any things that you drew from entertainment
- 3:19that you've pulled into your business that an MBA wouldn't know?
- 3:24My whole perspective when I thought success looked like
- 3:28and when I had to do to get it was totally miscalculated when I first met
- 3:34T-Pain, the first celebrity I ever met.
- 3:37And if you think of like rappers and artist musicians,
- 3:40they operate not from like a scarcity standpoint.
- 3:43I think when you're broke or struggling,
- 3:45you're trying to start something to create this idea of what wealth looks like.
- 3:48We're operating from scarcity.
- 3:49So we think of things like that.
- 3:50I bet everyone's heard this.
- 3:52Like if you want to be successful, you're going to have to sacrifice.
- 3:55You're also going to have to work really, really hard.
- 3:57And so these are things I believed to my core.
- 3:59But when I met T-Pain, it looked like he wasn't working at all.
- 4:03And he was, and he's not that much older than me, like five years.
- 4:06And he had abundance of wealth.
- 4:08I remember first I went to his mansion, he had 30 pimped out cars.
- 4:11And this guy would get, I mean, you would get drunk like every day.
- 4:15Like he partied so hard.
- 4:17So I'm watching someone have,
- 4:18this is the richest person I've ever met at this time.
- 4:21And he has so much.
- 4:22And I don't see him working hard.
- 4:25I don't see him sacrifice.
- 4:26Obviously he had to do things to get there.
- 4:28But what this is, this is changing perception.
- 4:30Yeah.
- 4:31It was if somebody has this much wealth,
- 4:33they should be like a hundred hour weeks.
- 4:36Yes, yes.
- 4:37I never saw him on his laptop.
- 4:38Yeah.
- 4:39You know, and one time he launched a song in front of us,
- 4:41it was called Reverse Cowgirl.
- 4:43It's not a good song, by the way.
- 4:45But he launched it in front of us.
- 4:46He showed it to us, played the music video.
- 4:48And he looked over his manager and he's like,
- 4:50all right, are we ready?
- 4:50Yeah, launch it.
- 4:51Back then, 2010 era,
- 4:5499 cents of download on iTunes.
- 4:56And so I remember looking at the dashboard screen
- 4:58and it was like after like a minute,
- 4:59it was like 100,000, 500,000.
- 5:01And then like after 10 minutes,
- 5:02it was like five, six million downloads.
- 5:05And it was comprehending like, oh my gosh,
- 5:06he just made like six million dollars in like a few minutes.
- 5:10And that's when I like totally,
- 5:12that this concept of like launching something
- 5:14has impacted a lot of like how I run stuff today.
- 5:18Like I'll launch something and I'll create lots of hype
- 5:21and I'll create a lot of positive energy.
- 5:23And when I launch, like it's been responsible for like how I've achieved
- 5:26a million dollars in a day from a launch.
- 5:28And I feel like watching it happen
- 5:31changed, changed everything about like how to make money.
- 5:34And I have to rewire like my beliefs on how I make money.
- 5:38Because I think making a lot of money
- 5:39doesn't actually have to be painful.
- 5:42I think for sure you have to work hard
- 5:43and sacrifice your assumptions,
- 5:44but it's not that's like a scarcity mindset.
- 5:46When you operate from abundance,
- 5:48like how I think today is like the more value
- 5:50I put out the more money I make.
- 5:52And that there's no limit to that.
- 5:54And it has nothing to do with being making it painful.
- 5:56It's just actually it can be fun to make a lot of money too.
- 5:59It's interesting because so for a lot of people,
- 6:03the thought of like breaking out of their nine to five
- 6:06and becoming an entrepreneur,
- 6:07it's like a very daunting thought.
- 6:08Like there's a lot of,
- 6:10a lot of things they got to figure out.
- 6:12So when you go down that rabbit hole,
- 6:14I think it's almost like you intuitively
- 6:16start to overthink everything
- 6:18because you're taking this huge risk
- 6:20and you don't want to screw it up.
- 6:21And even if you have a win,
- 6:23you don't want to screw it up.
- 6:23And almost that idea of not wanting to screw up
- 6:27what you've done so far,
- 6:28I can take it to an extreme.
- 6:30I know people that have sold their companies
- 6:32for over a hundred million dollars,
- 6:33like true successful companies and people that you may know.
- 6:37And the first thought after they get that wire
- 6:40is how do I not screw this up?
- 6:42Which is so silly because everyone
- 6:44would think, well, how do you screw up that amount of wealth
- 6:46or how do you screw up after you've proven yourself
- 6:48for 10, 15, 20 years?
- 6:50How do you mess that up?
- 6:51But that's very, that's just human nature.
- 6:54I think that we always second guess ourselves.
- 6:56We always have imposter syndrome
- 6:58at whatever level we play at.
- 7:00But you're saying that when you go into entrepreneurship
- 7:04and into building, into launching with like play
- 7:06and fun and creativity,
- 7:08it's just a healthier way to do it.
- 7:10And that's what T-Pain was doing.
- 7:12Even though he worked and he got results,
- 7:14he was still living life from an abundance mindset.
- 7:17Like let's launch it.
- 7:18If it doesn't work onto the next one,
- 7:21we'll figure it out,
- 7:22but don't tie your identity into this one launch.
- 7:26Which I think like guilty of doing this,
- 7:29I'm sure a lot of entrepreneurs are too.
- 7:31Yeah, I think the other thing too is that his work
- 7:34doesn't feel like work he was making music.
- 7:36A lot of artists, they design their life
- 7:38where they live their life of inspiration
- 7:40to get ideas from and then they work
- 7:42on either writing or singing or making their music.
- 7:46And I think this is also affected how I look at my work.
- 7:50And when I was a one man band, I did everything.
- 7:53And like many entrepreneurs, we do it all.
- 7:55And it's some problem that I had.
- 7:58I don't know if you had a lot entrepreneurs,
- 7:59they feel like they need to do it all.
- 8:02But the reality is we,
- 8:03I don't think there's anything I do that I'm the best at.
- 8:06And so when I started outsourcing,
- 8:07I learned that I was the bottleneck to my business.
- 8:10And now like I don't check my email first.
- 8:13I have like even from my personal life,
- 8:15I have a house admin who does like chores.
- 8:18And like so it now opens up time for me.
- 8:22And I think so much of it like,
- 8:24this is like again, a Scarsie mindset.
- 8:26I need to do it myself.
- 8:27We call it like do it yourself.
- 8:28It is like it's like a disease.
- 8:30Like we have trouble with letting go of this.
- 8:32But like artists, they do their music.
- 8:36And I think out of all the stuff we do,
- 8:38there's probably some stuff that you don't like.
- 8:40That's the stuff you probably should outsource.
- 8:42Because if you can just design your whole workspace
- 8:45to just be like what is the thing that actually either
- 8:48makes you the most money or fulfills you the most.
- 8:50And you can optimize for one of the other depending
- 8:52on if you need the money or if you rather have fulfillment
- 8:54or sometimes they come in the matter of both.
- 8:56And that I think that's for a lot of musicians and artists,
- 8:59they make music and make money.
- 9:00And that's why they designed their life that way.
- 9:02And as an entrepreneur, you can also create that lifestyle design
- 9:06that you control your hours and freedom.
- 9:09It's not always like that.
- 9:10And again, sometimes I think the funniest paradox is
- 9:13entrepreneurs, they work 80 hour work weeks.
- 9:16But then they say something like,
- 9:17I'd rather work for myself than someone else.
- 9:19And I've actually never agree with that.
- 9:20It's like I wanted to go to entrepreneurs
- 9:23so I would have time freedom.
- 9:24Not that I would work a hundred hour,
- 9:2620 hour, 120 hour work weeks because it's my time.
- 9:29It's like, no, like I wanted to optimize for time.
- 9:32That's why I went to entrepreneurship.
- 9:33And I feel like that was my escape.
- 9:35But a lot of entrepreneurs are going to have it of like
- 9:37accumulation and more without a true like purpose.
- 9:41And then it's just always on.
- 9:42Well, yeah, they get, they get, they build themselves
- 9:44like a high paying job and they get stuck in this loop.
- 9:49And there's a lot of resources around,
- 9:53well, even the, I mean, I say a lot of resources.
- 9:56I don't even think there's that much in terms of
- 9:58how to like quit a nine to five properly
- 10:00and to jump into entrepreneurship.
- 10:01I say there's a lot of resources because we live
- 10:04in this world and we know all the people that are teaching.
- 10:06So I think it's a, there's a lot of abundance of knowledge.
- 10:08But you're right.
- 10:11I don't even think that there's a lot of information
- 10:13to help an entrepreneur, like the first jump,
- 10:14let alone figure out how to go from not just zero
- 10:18to say a million dollars, zero to a hundred thousand dollars
- 10:20when you're having you a hundred thousand dollars
- 10:21to a million, a million to five and not have it again.
- 10:26And not have this business they've built become
- 10:29their entire identity and feel the need to micromanage
- 10:32everything.
- 10:33It's very tough, especially for the first time entrepreneur.
- 10:36So I want to know sort of, because I like to pull lessons
- 10:40from, from your story and sort of your journey
- 10:42and sort of teach what you've experienced
- 10:45to people that are maybe you three or four years ago
- 10:48or even one, when did you stop like dancing professionally
- 10:52and start to go on this entrepreneurship journey?
- 10:53I think it was 2014 is when?
- 10:5710 years ago.
- 10:58Yeah, 10 years ago.
- 10:59And I, then it's 2015 where actually went full time
- 11:04because of my, my dance business.
- 11:06So when two were ended and I stopped,
- 11:08I used to, then I did like,
- 11:09America got talent, it was on a dance crew and stuff.
- 11:12I went to YouTube to try to make money online
- 11:15from posting videos.
- 11:16And I had no idea what I was doing.
- 11:18It took me two years to make 45 cents.
- 11:21The only person that watched was my mom at the beginning.
- 11:23And then after you got on YouTube?
- 11:24It was on YouTube.
- 11:25Actually, you could, I, you probably shouldn't,
- 11:27but there's like 300 videos of me as a young 20 year old
- 11:30like dancing and teaching how to do the robot.
- 11:32Do you know how to do the robot?
- 11:33Oh, the way I know how to do the robot here.
- 11:35I'll send you a tutorial.
- 11:37But when I was looking into your, your background,
- 11:40that was one of the first products.
- 11:42Yeah, so that, that, that is the first product
- 11:44I made on money online with.
- 11:46I created a 60 minute dance tutorial,
- 11:48taught the robot.
- 11:49And actually that, that's how I was working
- 11:51at a call center, made 27K a year.
- 11:53And then when I made that $1,000,
- 11:55this is the word, this is how hard-wired my money script was.
- 11:57I'm Mexican, my parent, my dad immigrated here.
- 12:00So those money scripts like has to be painful
- 12:02to make a lot of money out of the sacrifice.
- 12:03When I first made that $1,000 instead of feeling amazing,
- 12:06I actually feel guilty because like, I had fun.
- 12:09I was teaching the robot.
- 12:10I mean, $1,000 was life-changing money.
- 12:12And so I had to rewire really quickly.
- 12:15And I feel like it took, it took me a long time.
- 12:17I kept like, oh, I don't know, this feels wrong
- 12:19than making money in this way.
- 12:20And so I had a truly changed like from scarcity mindset
- 12:23to abundance mindset.
- 12:24I've heard, obviously most people,
- 12:26it was just no Alex from Ozzy.
- 12:27And I've heard that he had like a like contentious like
- 12:31conversation with his dad about how much money
- 12:34he was making because his dad again,
- 12:36probably like most people's parents
- 12:39or most people that aren't panors,
- 12:42they have a hard time understanding like leverage.
- 12:44And they have a hard time understanding.
- 12:48I can make money with effort, but not that much effort.
- 12:51I can build something once and sell it a million times
- 12:54or I can create one podcast episode.
- 12:57And the same amount of effort that goes
- 12:58into one podcast episode, whether or not it gets seen
- 13:00by 10 people or by 10 million people,
- 13:03well, it's the same amount of conversation.
- 13:06So there's something about leverage.
- 13:08It's so beautiful entrepreneurship,
- 13:09but that's something that people really have to tap into.
- 13:11So, and understand, and you created your first course.
- 13:15This was after trying to teach people
- 13:17how to do the robot on YouTube for like two years.
- 13:21You created a course and then you sold a thousand dollars
- 13:23and then that was like light bulb moment.
- 13:26After you dealt with the mindset limiting beliefs
- 13:29about entrepreneurship.
- 13:30Yeah, definitely.
- 13:31Well, also I didn't know anything about entrepreneurship.
- 13:33I thought naively you could just post videos
- 13:35online and money would show up.
- 13:37But I learned you need to have a product.
- 13:38You need to have a business.
- 13:39You need to have an offer.
- 13:40And then after five years,
- 13:43that's when I made the same as my nine to five job in Iowa,
- 13:47and which was like 50,000 a year.
- 13:48And that's when I was able to go full-time
- 13:50entrepreneurship.
- 13:51That was 2015.
- 13:52And then everything started clicking.
- 13:55I started, you have more time.
- 13:57And I was like obsessed with this game.
- 13:58But even then I feel like I'm nerdy.
- 14:01I played Zelda and Final Fantasy in Tekken as a kid.
- 14:03Great games.
- 14:04Awesome.
- 14:05I still view money the same way.
- 14:06It's kind of like I'm playing a different, like a game.
- 14:09And so because the guy's online entrepreneur,
- 14:11I don't get cash.
- 14:12Like it's all like it's like HP points.
- 14:14So it's like, and it's just like playing a game.
- 14:17So it's always been fun to me.
- 14:18And because I've always been really good with money
- 14:20and the secret there is like living really frugal
- 14:24and humbly.
- 14:25And also every time I've made a dollar,
- 14:27I've always sent up a huge portion
- 14:30that for my future self and invest.
- 14:33So all this is a game.
- 14:34And I don't actually need to do it.
- 14:37My entire lifestyle today is paid for
- 14:39for my investments income.
- 14:40And that to me is like one of the best places to be
- 14:43in terms of entrepreneur financial freedom
- 14:45is I'm not operating anything I do based
- 14:47because I need to because I want to.
- 14:49You at one point you adopted more of like a minimalist lifestyle.
- 14:55I want to understand that.
- 14:56But I've also heard you speak about the fire movement,
- 14:59which I think is an interesting movement.
- 15:01And I want you to help me understand
- 15:04the difference between what you've done with your life
- 15:07versus what fire, which is I think financial independence
- 15:10for tire early, which is originally like a subreddit,
- 15:13what they preach.
- 15:14Because there's sort of two sides of the same coin
- 15:18to some degree because ultimately the goal is to
- 15:21again, live off your investments,
- 15:23not have to worry about, not have to work.
- 15:26You can work, you can do stuff that you like,
- 15:27but you don't have to work.
- 15:29So talk to me about your relationship
- 15:34with retirement, freedom, minimalism versus what fire is
- 15:39or what a lot of people try to optimize for
- 15:42if they're trying to build something.
- 15:43Yes, this is a great question
- 15:44because I just came from Mr. Money Mustache headquarters
- 15:48who gets credit for starting the fire movement.
- 15:51I had just voted a hill event.
- 15:52He on Reddit?
- 15:53Yeah, if you look at he's the OG fire movement crater.
- 15:56And it's hard to say like who invented the question mark?
- 15:59I don't know.
- 15:59But he gets credit to actually like pioneering
- 16:02this whole concept.
- 16:03So I just spoke there, it was funny when I spoke there,
- 16:05I said something and I think I poked the bear a little bit.
- 16:08By the way, Pete, I think you're awesome.
- 16:09And he challenged me on this.
- 16:11So this is where my book, Start Thing Your Rich.
- 16:13We have a chapter that's called retirement is for dead people
- 16:16because the act of not working, if you truly
- 16:19look up the definition, work is to fulfill a purpose.
- 16:22So when you stop working, it's like you have no purpose.
- 16:26And like the, I really hate how retirements market to us
- 16:29like in a sepia tone photo on a beach somewhere with my tie.
- 16:32It's like, dude, you're going to get bored.
- 16:34You're going to get the runs.
- 16:34One of those is going to hit you first.
- 16:36So it's like your idea of purpose.
- 16:39I think this is what this is the blessing and curse
- 16:41of when you have financial freedom.
- 16:44When you don't have financial freedom,
- 16:45you're just envisioning this future state.
- 16:47And you can ask, and you don't have the ability
- 16:48to ask better questions.
- 16:49You're asking questions like, how do I pay rent?
- 16:51Or like, how do I get ahead?
- 16:53Like, how do I invest more?
- 16:55When you have financial freedom, you don't really
- 16:57have money problems.
- 16:58You have life problems.
- 16:59Like, what do I do with my time?
- 17:01What do I, how do I make it impact?
- 17:02Like, what do I do with the life I have left?
- 17:05And this burden, which is a great burden to get to.
- 17:08And I think it's everyone I encourage,
- 17:10everyone to get to this point.
- 17:11Now you have to dig deeper.
- 17:13Like, what, what should I do with my time?
- 17:15How do I make it impact in this world?
- 17:17And I think that's my goal.
- 17:19Why I want everyone to have financial freedom?
- 17:21Because I think the world would be a better place
- 17:22if we weren't trapped with money and we operate
- 17:25from an abundance standpoint.
- 17:26Here's a difference between, I would say,
- 17:29my content and starting a rich content for my book
- 17:31versus fire movement.
- 17:32Fire movement people, sometimes they operate
- 17:36from such a standpoint of frugality or cheap
- 17:39that when they achieve financial freedom,
- 17:41they can't let go of it.
- 17:42So they're still doing their own chores.
- 17:44They're still doing their own laundry.
- 17:45They're still, like, keeping their yards.
- 17:47And I'll just, to me, those are chores.
- 17:49If those fulfill you and you truly like doing that,
- 17:52then of course it's, I can't shame you
- 17:53for spending your time that you've earned, right?
- 17:56But they still are operating from the point of
- 17:59when they first started them, begun the fire movement,
- 18:02move and journey, what they didn't have it.
- 18:03So it's really hard for us.
- 18:05And this is why retirement, like, people die
- 18:07after they retire, is because they operate
- 18:10from scarcity and then they finally make it.
- 18:13And it's impossible to then flip a switch and say,
- 18:15okay, now I'm gonna do all the things I always wanted to do.
- 18:18That's why it's important today.
- 18:20Even if you're not financially free to start operating
- 18:23on things like, what are things today you're gonna do?
- 18:25Even if you had a lot of money, you'd still do.
- 18:27Like, in end, in my firm example,
- 18:30I just came to your house from a coffee shop.
- 18:32I was drinking coffee outside.
- 18:33It's one of my favorite things to do.
- 18:35I lived in ducks.
- 18:36Yeah, I got coffee and people watching.
- 18:38Exactly, when I lived in Dublin, Ireland,
- 18:40I spent $14,000 that year in coffee.
- 18:43It's like a lot, right?
- 18:44That's how much I love to do it.
- 18:46And again, fire movement people would say,
- 18:48$14,000 can imagine if you put that into
- 18:50that S&P 500 index fund and what that money would be
- 18:53in 30 years.
- 18:54I'm like, yeah, but I love doing it.
- 18:55It doesn't matter how much money I make,
- 18:56I'm always gonna do it.
- 18:57So it's important to find things today
- 18:59that truly you love and you spend money to do that.
- 19:02So then there isn't this hard transition period of like,
- 19:05okay, I'm rich now, I don't know what to do.
- 19:07Cause you know, it happens either you get boredom depressed
- 19:11or you go back to work.
- 19:12I fully agree, there's so many ways that people,
- 19:15when I look at the average person that's part of the fire
- 19:18movement or the average person is trying to build a company.
- 19:23I feel like you have discovered the healthiest version
- 19:27of all of it, but I feel like the way you live your life
- 19:30and the way you look at money and the way you look at freedom
- 19:32and the way you even look at minimalism
- 19:34and the way you still like to spend on things
- 19:37that you care about, I feel like funny enough,
- 19:40those are not mainstream ideas.
- 19:42I think that entrepreneurship and I've tried to kill this idea
- 19:44a couple of times on this podcast,
- 19:46entrepreneurship is always about trying to raise money
- 19:49and move as quick as possible and get good angel investors
- 19:51and get good VCs and then let's go raise the next round
- 19:53and then hopefully I'll become like the next Facebook.
- 19:55And that's not a healthy version of entrepreneurship
- 19:57for 99% of the population.
- 19:59Similar to why, yeah, it's great to make money
- 20:02and it's great to have freedom,
- 20:04but that picture of you on a beach with a my tie
- 20:09is really not what most people want.
- 20:11Because most people do crave purpose.
- 20:13And if you put off purpose and pursuit of nothingness
- 20:16and that's your entire life's mission,
- 20:18I think you're gonna be very happy in both states.
- 20:21You're gonna be very happy when you're building
- 20:23and you're stealing ketchup packets from a diner
- 20:26because you don't wanna go buy them
- 20:27and you're also gonna be very unhappy
- 20:29and you're gonna be very unhappy after you're done.
- 20:31And you have no purpose in life
- 20:32because your whole purpose was finding ways to be as frugal
- 20:35and have as much cash and investment or liquid ass
- 20:39or whatever you want as possible.
- 20:41I think that that's probably something
- 20:43that is just as toxic as the Silicon Valley version
- 20:46of entrepreneurship.
- 20:49When you, okay, so you are now full-time entrepreneur,
- 20:52when did minimalism or any of the sort of like those concepts
- 20:59start to come into your life?
- 21:00Like why did those things matter to you as an entrepreneur?
- 21:03Because you're making money online now.
- 21:05What are you selling, like you're selling courses,
- 21:07you're selling, what's the actual business
- 21:10that you're building?
- 21:11Back in 2015, when I was still hardcore dancing,
- 21:15it was all dance-related.
- 21:16That little robot course, like literally how to dance
- 21:19a robot, how to like dubstep dance was the thing?
- 21:22I was like, I was like almost like a thought leader
- 21:25in dubstep dance, like it was really popular.
- 21:27And my website grew the number one place
- 21:29people learn how to dance the robot online.
- 21:31That was my very first business offering.
- 21:33So it was like all the things about dance.
- 21:35And this is where I started learning about
- 21:37collecting my first email and what an importance of that.
- 21:40And by the way, I don't do this anymore.
- 21:42Like I actually am under the belief that you shouldn't
- 21:46always turn or don't turn your passion into a business
- 21:49because I got really burnt down.
- 21:50I don't dance that much.
- 21:51I really only dance when I speak on stage
- 21:53or like if someone's like egging me on, then I will do it.
- 21:56But like I lost my love of dance
- 21:58because I turned into a business.
- 21:59But I digress because when we, my wife worked at Deloitte
- 22:04and then we were in Iowa
- 22:06and then there was an opportunity for her
- 22:07to go audit in Microsoft in Dublin, Ireland.
- 22:12So this is what brought us, now this was the hard tie.
- 22:16If you were to leave all of your stuff behind
- 22:18and move to different country,
- 22:20like you're gonna be forced to let go of objects.
- 22:23And so I was for sure like your average consumer,
- 22:26every crevice, every storage, compartment in our house
- 22:30was full of stuff that didn't even know existed.
- 22:32This is every consumer in America, right?
- 22:34So when we left to Europe with a couple of backpacks,
- 22:37that was the hard thing.
- 22:39I felt like I was losing identity, like all my stuff.
- 22:42I am my stuff.
- 22:44And then when I got to Europe,
- 22:45you learned a different way of living
- 22:47and we've traveled so much since then.
- 22:49They're like so many, the Western way of thinking,
- 22:51it's not always the right way.
- 22:53There's a lot of different ways to live.
- 22:54And I actually now after Ireland,
- 22:56we then we backpacked for I think two years total in nomad.
- 23:01And then when we came back to the USA,
- 23:03right before the pandemic hits, we don't own a home.
- 23:07It's like the worst time not own home.
- 23:08You were backpacking so you did not own much at all.
- 23:11You didn't like throw it all in storage.
- 23:13No, we didn't have, yeah, we truly got rid of everything.
- 23:15That's the gap.
- 23:17My wife now, she left Deloitte and then I brought her
- 23:20on to our company, super small way, like seven people.
- 23:25But then my wife was looking on TikTok
- 23:29and saw people living in vans and as a way of travel.
- 23:31So we did van life.
- 23:33And that was actually more stuff that we were used to.
- 23:35This entire time, my business is really growing,
- 23:38accumulating and we just we just live so small.
- 23:40Like in the van, I say an invested like 95% of every dollar
- 23:45I made that year.
- 23:46But even before then, it was like 70%, 60% like 50%
- 23:50of the dollars I make, like for like, I would say
- 23:53a 10 year time span from like 23 to 33 was like always
- 23:59being invested.
- 24:00So I always was able to live under my means,
- 24:02which I think is a secret superpower
- 24:04like to have that money compound.
- 24:05Yeah, I think that again, you did something that goes
- 24:08and goes against the grain when people start
- 24:10to make more money, most people make more money
- 24:13and then they have lifestyle creep.
- 24:15And they make an extra, you know, $5,000, $10,000 a month
- 24:18and they find that trust is not hard to spend that money.
- 24:22Very easy, right?
- 24:22You can throw it into a nicer home, like a bigger condo,
- 24:26nicer car, whatever.
- 24:27But you went the opposite direction.
- 24:30So you were just, you were, you were investing almost
- 24:32everything.
- 24:33What, what did you enjoy about?
- 24:36Actually, let me ask it differently.
- 24:38What, what do people get right about minimalism
- 24:41or what is the correct interpretation
- 24:43or the correct way to do minimalism?
- 24:45What are the benefits to it?
- 24:47What are the drawbacks?
- 24:48Like is this something that you think everybody should go
- 24:50through at some point?
- 24:50Because when you, when you talk about your journey to Europe,
- 24:53it sounds like what people do like after college.
- 24:56When they go and they do like backpacking around Europe,
- 24:58but I don't think many people go back to that.
- 25:01I think people get very set.
- 25:03And, you know, I have my stuff.
- 25:05I want to be in a house.
- 25:07I want to, you know, white pick defense,
- 25:08American dream, whatever it is.
- 25:10So what is the, what are the benefits
- 25:12drawbacks of minimalism?
- 25:13All right, I think this is going to be applicable
- 25:15to everyone.
- 25:16Like sometimes I get when people come across my videos
- 25:19that they call Adrian, he's, he's multi-millionaire now
- 25:23and he lived in a van.
- 25:24So I don't want to live in a van.
- 25:25Like that's not who I want to follow or something.
- 25:27But here's the idea.
- 25:28Here's the best part of minimalism.
- 25:30It's this thought.
- 25:31You don't own anything.
- 25:33The more stuff you own, it actually owns you.
- 25:35I'll show you an example I saw today.
- 25:37At the coffee shop I was at, someone pulled up
- 25:39in like a Lamborghini or something.
- 25:41I don't know if it was theirs.
- 25:42If they rent it, I know it's my amuse.
- 25:44Yeah, I really rent it.
- 25:46It's a bother thing to do.
- 25:48But parks the, parks the Lamborghini,
- 25:50like what is walking away, turns around,
- 25:53looks back at the Lamborghini,
- 25:54and he actually walks around, takes his phone, takes a photo,
- 25:57like, and then, like, he goes to the coffee shop
- 26:00and then he sits at the coffee shop
- 26:02so he's staring at the Lamborghini, right?
- 26:04He's like, it's like all about the Lamborghini.
- 26:05So this is a great example of like,
- 26:07is, and let's pretend he owns it.
- 26:09For this example, like, does he own the Lamborghini
- 26:11or does the Lamborghini own him?
- 26:13Because when I go and I park my car, I just park it
- 26:15and then I head to wherever I'm gonna go.
- 26:16I'm not gonna do it a little 360 around it
- 26:19and like always take, like, it's like totally different.
- 26:21So mentalism, think this way, like,
- 26:23we don't own objects, objects own us.
- 26:25So that is a principle I think is,
- 26:27as you continue to shop and you continue to buy,
- 26:31just think like, you know, what's the real purpose
- 26:34or why, why is it that you wanna buy it?
- 26:36And I think in Miami, is status is a huge thing.
- 26:41And this is, I'm, we're all guilty of status.
- 26:44And it's ingrained to us, like in history,
- 26:46like Egyptians were so obsessed with status
- 26:48that they buried really awesome objects with them.
- 26:51Like, oh, how big is your tomb gonna be?
- 26:53Oh, you know, my tomb's gonna be huge.
- 26:55I'm gonna have all this nice jewelry
- 26:56and status, like it compels us to purchase.
- 27:01And if you could live your life based off your true intentions,
- 27:05like rich people, really rich people.
- 27:07If you notice, like, if you ever go
- 27:08to like a really high end designer store
- 27:10versus like a store that I would say is from middle class,
- 27:14middle class, huge logos and brands.
- 27:17It's like, let everyone know what I'm wearing.
- 27:18And then like, there's some like really expensive clothes
- 27:21I'm turning like $1,000 sweaters.
- 27:24Like, like, where's the logo?
- 27:25You can't even find it.
- 27:26Cause like, actually, real wealth,
- 27:27they actually try like concealer hide how much they're wearing.
- 27:30Where's like, in Miami is a lot of people like flexing,
- 27:33like showing their watches and like Gucci.
- 27:35So it's like, it's a total shift on like,
- 27:37how actually rich people operate
- 27:39versus like people who are trying to fake it or be rich.
- 27:42Yeah, so minimalism is, I mean,
- 27:45I actually love that concept.
- 27:46Like the objects, the objects that you have in your life
- 27:49are no longer owning you, but there is a balance.
- 27:51Like you do have, there has to be a practical balance.
- 27:54Like this is not to say, like if you want to have a home
- 27:59and you want to have your kids going to a school
- 28:01in a certain district, it's very hard to be like minimalist
- 28:04in van life and traveling all over the place.
- 28:06So there is, there's always a balance,
- 28:07but I think that I think that most people
- 28:10skew more towards, I have more money,
- 28:13let me buy more things versus the opposite.
- 28:17I'm just curious, how do you run a business out of a van?
- 28:22Because I'm just trying to think about even,
- 28:25even the way that I run, I mean,
- 28:27I guess I could run podcast studio
- 28:28and then be traveling around everywhere I go,
- 28:30but it must be like slightly distracting.
- 28:33Like how did you grow, because you grew it successfully.
- 28:36So how did you grow a business while like traveling all over?
- 28:39I guess it's the same as remote work, really.
- 28:42This challenge, like totally changed the way I operate business.
- 28:46And that year in the van, I made $1.7 million.
- 28:48At that time, it was the most money ever made in a year.
- 28:51That's wild.
- 28:52And for you, and that's like, that's still early,
- 28:53early-ish entrepreneurship.
- 28:54That's when your, your wife is still at the light
- 28:57and or she's quit you.
- 28:58She quit, she quit that one.
- 29:00And that helped dramatically.
- 29:02It helps if your wife's a CPA, by the way.
- 29:06So when I was running the van, the question,
- 29:10this is a good question to think about for yourself.
- 29:13Like what if you had to produce the same level of your work
- 29:16that you need to do now, but you only had a day?
- 29:19Because like in the van, we were literally in the teetons
- 29:21and Wyoming and Colorado and then Wi-Fi was going to be spotty.
- 29:25But I knew at least one day out of the week,
- 29:26we would stop at a coffee shop and work from sunset the whole day, right?
- 29:30So that was the thing is like, how do I get my work
- 29:34and knock everything out that I would normally do in a week?
- 29:38It led me to like find solutions to things that eradicate things
- 29:42that were I was wasting time.
- 29:44Also allowed me to finally outsource things that I couldn't monitor.
- 29:48One of the, I think the biggest fear I had was ads, ads,
- 29:52at least in my experience are very hands-on.
- 29:55I'm not good enough where I can just set it and forget it.
- 29:57So people aren't.
- 29:58But most people will tell you that I can,
- 30:01but when I've ever tried to run ads for like a product that's not proven,
- 30:05I have to live in that account.
- 30:07Yeah, every single day.
- 30:08Yeah, or the results are just kind of shit.
- 30:10Exactly.
- 30:11That was probably my biggest fear of like,
- 30:13what was going to happen?
- 30:14I was going to, seven days was going to go by.
- 30:16I was going to wake them up like, oh my god,
- 30:18I spent all this money, I lost it all.
- 30:20So then I actually had a teach and train someone.
- 30:23Finally, I thought the ads specifically was like,
- 30:26I felt like was my superpower that like I could never,
- 30:29like this is something I actually need to do.
- 30:31And then I learned like, okay, maybe the superpower is like 5% of ads.
- 30:35I don't need to be the one that creates the asset or uploads the asset
- 30:39or does the research of it.
- 30:41I just need to do the optimization of the ads.
- 30:43So like I taught someone to basically do 90% of the ads.
- 30:47And then when I would get out of that, okay,
- 30:48it's here, how do I take it here?
- 30:50How do I know this ad should be killed?
- 30:52And those, maybe those decisions,
- 30:53I actually don't think I still need to do them today.
- 30:56But now it's like, I got to that point.
- 30:59Before I was doing 100% of the ads,
- 31:01but all the things like checking my emails,
- 31:03looking for brand deals or like I feel like I made a lot of money
- 31:06that year from affiliate marketing off physical products.
- 31:09There's a whole thing I got like four VA's
- 31:12and I got like American staff.
- 31:14And it just really helped shape and optimize my business.
- 31:18And I think that's the thing I would challenge everyone here
- 31:20is like all the work you're doing,
- 31:22what is this thing's either fulfill you and make you the most money.
- 31:25And then how would you continue to produce that level of effort
- 31:28or work or results if you only had a day to do it a week?
- 31:31And then it's just a great, that ended up being a great way
- 31:34to change how I run a lot of my business even today.
- 31:37I just want to take a second and thank the HubSpot podcast network
- 31:40for supporting success story.
- 31:41Now, if you enjoy success story,
- 31:42you're going to love other podcasts
- 31:44in their network like Business Made Simple,
- 31:46hosted by Donald Miller.
- 31:47If you've ever wondered why some businesses take off,
- 31:49well, many struggle,
- 31:51Donald Miller takes the mystery
- 31:52out of growing your business with actionable strategies
- 31:55that you can implement today.
- 31:56Whether you're trying to build a stronger team,
- 31:58craft a clearer message or boost your bottom line,
- 32:01Business Made Simple delivers the frameworks
- 32:03that you need to succeed.
- 32:04Listen to Business Made Simple wherever you get your podcast.
- 32:07I think that that's another trap that people fall into.
- 32:09It's when you start your business again,
- 32:11you feel like you just mentioned,
- 32:13you have to do everything yourself
- 32:14or you're the best at everything.
- 32:16I fall into this trap a lot,
- 32:18not that I think I'm the best at everything.
- 32:20But I have this, I have this and I'm sure you do too.
- 32:23And I think a lot of entrepreneurs have this ability
- 32:25to just, they're very good at being self-taught individuals.
- 32:29They're very good at learning new things.
- 32:30When you learn something new, you learn how to run ads,
- 32:32you learn how to write copy,
- 32:33you learn how to do graphic design.
- 32:35I mean, I've learned how to figure out like cameras
- 32:37and aperture and lighting and all like,
- 32:39I've learned all this stuff.
- 32:41And then you get to a certain degree of mastery
- 32:45and then you start to get a little bit stressed out about,
- 32:49okay, so I figured how to do it at this level.
- 32:52My business is doing okay,
- 32:54but I don't have the budget to hire somebody
- 32:56who is like a $100,000 per year person to do this thing.
- 33:00So how can I find somebody that can do it
- 33:03at the level that I want,
- 33:04but at the budget that I have,
- 33:05and this is this balance that you're already trying to figure out.
- 33:08So what would be your advice for somebody
- 33:09that's at that level, that again,
- 33:11they do all the things to some degree in their business,
- 33:15to a certain degree of mastery,
- 33:16because again, they're smart people, they figured it out,
- 33:20but they're trying to outsource fractionally.
- 33:22Like what are those like urgent important things
- 33:23that they should start to outsource?
- 33:24How do you, what's your sort of framework for figuring out?
- 33:27Okay, this is something that I can find a VA to do this.
- 33:31It's not that complicated,
- 33:32or maybe I should over invest in this thing over here,
- 33:36and it is worth taking a couple thousand bucks a month
- 33:40and putting it towards this professional
- 33:41that's highly skilled at that thing.
- 33:43Like how do you balance out all the different activities
- 33:45in your business knowing that you could probably do most
- 33:48of it yourself, but ultimately the van forced you,
- 33:51I'm not forced to do it, because I'm home all day,
- 33:53but the van forced you to think like this.
- 33:56I think the first part, it can be really nuanced,
- 34:00so instead of just saying it depends,
- 34:03like there's some fundamentals, I would say,
- 34:05every person should be doing this
- 34:06who is optimizing for their time.
- 34:08Here's my assumption, you believe that your time
- 34:11is the most valuable asset, and I think that's true.
- 34:14If that is true, then you should check on your screen time
- 34:17and see where are you spending most time the day.
- 34:20Everyone thinks they spend their time very wisely,
- 34:22and you look on your phone and you're like,
- 34:23oh my gosh, I spend two hours a day on Instagram.
- 34:25So the first thing before you even think of outsourcing,
- 34:27are you effective at your time?
- 34:29Opal, I'm really trying to land a brand deal with them
- 34:32to talk about it all the time.
- 34:33I don't know, are you familiar with Opal?
- 34:34No, what do they do?
- 34:35Right now I cannot check my social media, it's blocked.
- 34:38I cannot do anything, and it's blocked for basically
- 34:41from 6 a.m. to 5 p.m.
- 34:43This is what they do, that's the knob.
- 34:45Yeah, it blocks all the things that take up time distracting.
- 34:48Notifications should always be off,
- 34:50including text messages, because when I put on Opal,
- 34:54and I couldn't do social media,
- 34:55I was like, my screen time's gonna go way down.
- 34:57Now I'm still spending three hours on my phone,
- 34:59I was like, what am I doing?
- 35:01Because my email doesn't have notification,
- 35:03I'm not on social media, and then I learned that,
- 35:05I'm spending like two and a half hours
- 35:06on text messages every day,
- 35:08because that was the one notifications
- 35:09where I like, I just answer as I get.
- 35:11So then I only check that in like a few times a day,
- 35:15and then I really lean down my time.
- 35:17So these are, I think, fundamental to everyone.
- 35:20You should treat this way,
- 35:21because sometimes with the text message for parents,
- 35:23or like, what if it's an emergency,
- 35:24it's an emergency, you're gonna get a phone call, right?
- 35:26So it's not gonna be a text,
- 35:27but those are, I think, tried and true, you have to do them.
- 35:31And then when it comes to specific skills,
- 35:33and again, this is nuance to whatever your business is,
- 35:35I truly think you shouldn't be the person
- 35:38that handles your own email.
- 35:39You shouldn't be the person that tries to,
- 35:41if you're trying to look for even like podcast guests,
- 35:43or like connections, or you're trying to grow,
- 35:48and how to grow is due manual outreach.
- 35:50You shouldn't be the person that does this.
- 35:52My co-author, Dr. Brad Clens, he was the person
- 35:55that was like pitching podcast guests,
- 35:58and I was like, what is it that you're doing
- 35:59that's so special?
- 36:01He's like, well, I have this script, and I just send it,
- 36:03and I'm just researching to find like,
- 36:05journalists and stuff for press.
- 36:07I'm like, dude, everything you're doing,
- 36:09you could have a VA do that,
- 36:11and that VA could pay five bucks an hour,
- 36:15and then do that for you.
- 36:17To me, I think of all the busy work,
- 36:18that's where you start, and then once you knock all that,
- 36:22and if you feel like you still have needs
- 36:24for like a higher level of work,
- 36:26like a filmmaker, a videographer,
- 36:28if you don't have the money,
- 36:29you gotta be creative with partnership, incentive,
- 36:33like maybe a revenue share model,
- 36:36and if you don't have that,
- 36:37then you better offer something of experience
- 36:39that's gonna be worth someone to trade their time
- 36:41for a not get paid, that maybe you're actually working
- 36:44for them, and do an exchange service.
- 36:46So there's always a solution if you just can be creative,
- 36:48you have to think outside the box, but I like that.
- 36:51So I always think about, okay,
- 36:52if I'm gonna hire somebody,
- 36:53like I have to pay them premium rates,
- 36:55but there's other ways that you can leverage talent.
- 36:58I like that, last idea actually a lot.
- 36:59You work for them, and then you trade your time,
- 37:02so that you help them with something.
- 37:03Yeah, I help you with something.
- 37:04You're like, okay, this podcast,
- 37:06I love Scrap Beyond Trade, by the way.
- 37:07Yeah, best, yeah, go ahead, sorry.
- 37:09I was gonna say like this podcast,
- 37:10if you wanted to have a filmmaker,
- 37:13you've created so much value, like your leverage,
- 37:15that like I imagine if you open up the floodgates,
- 37:18like if you would wanna learn from me
- 37:20and get access to the people that you have in this room,
- 37:22and like it'd be better than anything they get from college
- 37:25and filmmaking, or if they wanted to be in TV,
- 37:29like what you've created is so valuable,
- 37:32and just by being in the room and doing it for free,
- 37:34like you wouldn't need to hire someone.
- 37:35I have a full time videographer.
- 37:38I thought I was sexy enough, and like enough
- 37:40or she could just work, and I'd not spare,
- 37:42but by the way, Erin, you're amazing, you're worth the money.
- 37:45But like, be creative and do your exchange of services.
- 37:49And I think that when you do stuff,
- 37:50I mean, when you bring other people,
- 37:52like I do have a team that does a lot of the post-production stuff,
- 37:55I mean, I'm not editing everything now.
- 37:56When I started, I did for sure.
- 37:58So it's not like I haven't built out systems
- 38:00and processes myself to some degree.
- 38:02But when you, I think that you don't realize,
- 38:04especially again, for first time entrepreneurs,
- 38:06you don't realize how fast and far you can go
- 38:08when you start to bring in people.
- 38:10And you start to also realize that you aren't as good
- 38:13as you think you are.
- 38:14I think that's the most important thing.
- 38:15I think your ego gets a little bit checked
- 38:17when you bring in really good talent,
- 38:19which it should, like you should bring in people
- 38:21that make you feel like you're irrelevant
- 38:23or redundant at the thing that they're doing.
- 38:25I think that's a signal of a great hire.
- 38:28When, I mean, if I can do the thing better than the person
- 38:32who I'm hiring, that's not a good hire.
- 38:34I want somebody who completely outclass me.
- 38:37What are the things when you, again, we focus on
- 38:40like urgent, important, because you only have that one day
- 38:43from like sun up, sundown, when you're going through
- 38:45this van life, minimalism, journey.
- 38:48What are the things that you can definitely not outsource
- 38:51when you are building a business from the ground up?
- 38:54My business in the van was already started.
- 38:57So it wasn't like true startup fashion,
- 39:00but it actually grew that year,
- 39:02the year before that, I think I did like half that revenue.
- 39:05So it grew because I created processes
- 39:11that streamline, like I feel like SOPs.
- 39:13This is something I didn't even know what that meant.
- 39:17Like soap?
- 39:17No, like back in the van, I was like,
- 39:20oh, I have to create, if I'm going to teach in scale,
- 39:22I need to actually, like, how is it that I do the way
- 39:25the things I do?
- 39:26Like, and it's as simple as like writing
- 39:28like the step-by-step tutorial almost
- 39:31and then passing it to other people, like that helps scale.
- 39:34So I think, when I just created a new ecosystem
- 39:39for the book, Starting a Rich,
- 39:41has master classes in coaching and all this amazing stuff.
- 39:44And from the beginning, I have SOPs.
- 39:47So it's built to scale from the beginning.
- 39:48So I think in terms of like your,
- 39:51whatever work you're doing, scrappy is great.
- 39:53I think scrappy is probably my biggest skill set
- 39:56that got me where I am today.
- 39:57But if I would have been scrappy following an SOP,
- 40:00or I feel like I would have wasted less time
- 40:03and been more efficient.
- 40:04So in terms of like how your business,
- 40:06and what your plan is to grow,
- 40:08like writing down your systems and processes
- 40:10as boring as that sounds, like it makes sense
- 40:12because it's, you're building it to scale from the beginning.
- 40:16I want to talk about just some of the lessons
- 40:18that are coming from the book.
- 40:19So when you say start thinking rich,
- 40:21we've gone in and out of some of those lessons already.
- 40:23But what does that mean to somebody
- 40:26who wants to read this book?
- 40:27What does start thinking rich mean
- 40:29and how they invest and how they live
- 40:31and how they build a business?
- 40:32Just as like a theme.
- 40:34I'm just going to say something
- 40:35that might be controversial.
- 40:36So I want to be super clear.
- 40:38We talk about poor people and rich people
- 40:40and actually has nothing to do with money.
- 40:42So I'm going to say poor people rich people.
- 40:44Poor is a way of thinking.
- 40:46Rich is a way of thinking.
- 40:48Broke is having no money.
- 40:50I've been broke.
- 40:51And why I didn't stay broke is like I started to think rich.
- 40:55Rich people do things differently.
- 40:56Successful entrepreneurs do things differently.
- 40:58But we can just put this umbrella term that rich,
- 41:00a rich is something that you want to be.
- 41:03It's a way of thinking.
- 41:04There's different rules that rich people operate
- 41:06in that poor people don't, that they don't know about.
- 41:09And people that are poor, like one terrible poor mindset
- 41:13that people have is rich people
- 41:15in order to accumulate grow company,
- 41:18you have to take advantage of other people.
- 41:20Or in order to make a lot of money, you have to be greedy.
- 41:25Or this one bothers me so much.
- 41:28When you hear of Warren Buffett or someone, a billionaire
- 41:30that donates millions and millions of dollars
- 41:32to an amazing cause, like a poor mindset would say,
- 41:36well, it's for tax purposes, like they didn't really want it.
- 41:39So they're dismissing like everything
- 41:42it takes like like operating from rich standpoint.
- 41:45If you have these nasty thoughts about rich people
- 41:48and how you run your company,
- 41:49if this is what you think,
- 41:50it's going to always on a subconscious level
- 41:52prevent you from growth and success.
- 41:55So rich is a mindset that you need to adopt.
- 41:57You need to think like this.
- 41:59And it's really switching from scarcity to a bunch.
- 42:01I know we talked about that a bunch already,
- 42:02but it's a way of thinking.
- 42:04And it applies to like, I think also relationships
- 42:08and health and business.
- 42:10And it's something you want to adopt.
- 42:12And a lot of the times the reason why we,
- 42:15like most people aren't born rich, I wasn't born rich.
- 42:17And so we get these scripts on how the world works,
- 42:21how money works, how business works,
- 42:23from our parents, more things we can blame our parents for.
- 42:26And most people don't have great examples
- 42:28of how to use money and what money means.
- 42:31Even if you are born rich on paper,
- 42:34you go out into the real world
- 42:35and you just saw your parents just,
- 42:37you always had stuff and money just comes and goes.
- 42:39And then when it comes to managing your own money
- 42:41or your company's money,
- 42:42you're almost irresponsible.
- 42:44Like you spend money because you don't assume responsibility.
- 42:47So everyone has to work through their money scripts.
- 42:49But how you think, like how I run my business,
- 42:54how I also run my personal finance the same.
- 42:57I'm conservative as a entrepreneur, I think.
- 43:00It's wild to me that I have, you know, understanding rich.
- 43:04I think just put a button on it.
- 43:06There's a demonstrate like a rich skill set
- 43:08and there's also like a well skill set.
- 43:10Entrepreneurs are really great,
- 43:12typically those success ones on a rich skill set,
- 43:14their ability to earn, create.
- 43:16But then when it comes to having that money stay
- 43:19and then also having that money make money,
- 43:21they're terrible at it.
- 43:22They're terrible at it because as an entrepreneur,
- 43:26we make money in the riskiest way.
- 43:28But also we have to like get stomach muscles
- 43:32where that risk becomes normal.
- 43:35And then we lose, we forget that actually
- 43:37what we're doing is very risky.
- 43:39It just is our baseline.
- 43:40So then when it comes to like investing that money,
- 43:42like like money into wealth.
- 43:44Yeah.
- 43:45After two wild things, yeah.
- 43:47But tip, like I'm always very surprised
- 43:50when I meet entrepreneurs and they tell me
- 43:52what they're investing in and it's so risky.
- 43:55Like they, and they lose at all,
- 43:57but it's because their baseline is so much higher.
- 43:59And again, a rich, a rich person,
- 44:01their thought is like diversification.
- 44:03Like how they preserve their money
- 44:05and have it become legacy money.
- 44:07So again, rich way of thinking is totally different
- 44:10from I would say a poor way of thinking.
- 44:11I actually, you know, you can make a lot of money
- 44:15and still have a poor mindset.
- 44:18You can make a lot of money and still be fearful
- 44:20that you're going to lose it all or take high risk
- 44:23or be greedy or hate other people that made money.
- 44:29It's tough to get out.
- 44:30It's tough to move from scarcity to abundance.
- 44:34I like it's tough to talk about
- 44:37because it seems like such like non concrete terms
- 44:42like scarcity, like what does that mean?
- 44:44Like how do you, like, because people want to,
- 44:48I think when you say scarcity mindset, people like yes,
- 44:52I didn't, I didn't have a lot growing up
- 44:54and now I'm making some money,
- 44:56but I still can't shake those beliefs in my parents' ad
- 45:00that probably are sort of things that have been instilled in me.
- 45:05And I think that it's tough to talk about those two terms
- 45:07because people don't have a very clear way
- 45:10of changing their mindset from scarcity to abundance.
- 45:13Like what's the point?
- 45:15And I don't think if you don't have a,
- 45:17maybe you do have an idea or advice for people,
- 45:21but I don't know how or why some people
- 45:25are always so angry with money and the concept of money
- 45:28and making money and people will look at somebody like,
- 45:30they're almost like just the look at the world
- 45:32through this pessimistic lens.
- 45:35I don't know why they do, I don't know why that is,
- 45:38but say somebody doesn't want to look at the world that way
- 45:41or they want to have a healthier relationship with money.
- 45:44What's the way they achieve that?
- 45:47What's the path they can go on,
- 45:49the tactics, the framework?
- 45:50Because I couldn't tell someone,
- 45:53hey, just switch from scarcity to abundance
- 45:55and you know, you do these five things a day
- 45:58and don't worry, you're gonna have a healthier relationship
- 46:00with money, I don't have that path,
- 46:02but I do know that there's people that are definitely
- 46:04in camp one and camp two.
- 46:05Yeah, there is a framework that,
- 46:10in psychology, we, successful people,
- 46:13they have an internal locus of control.
- 46:16And what that means is,
- 46:17and this is something you could put on literally right now
- 46:20as a framework and how you operate and think about the world.
- 46:23Do you believe right now that most of what's happening to you
- 46:26is because of you and do you also feel or believe
- 46:29that you have the ability and control to change it,
- 46:32change your circumstance for better for worse?
- 46:35That is what we define as internal locus control.
- 46:37I can change, I have the ability to make change.
- 46:40So if you are operating in a world
- 46:42where you have an external locus of control,
- 46:45then everything else is happening to you.
- 46:49You can't create success because whoever's the president,
- 46:54or if you're at a nine to five,
- 46:55like I can't make six figures because my boss,
- 46:58you're always pointing externally.
- 46:59So I think how you view the world is the first step
- 47:04into making sure all the tactics are executed
- 47:07and you're consistent, you have discipline, all that stuff.
- 47:11To me, the tactics, I assume most people actually know
- 47:15the tactics, but this internal psychology
- 47:18is what prevents them from consistently executing them
- 47:21or giving up when they get started
- 47:23is because of first how they view the world,
- 47:25you have an internal or external locus of control.
- 47:28When you look at your own journey,
- 47:29what was the moment when that pivoted for you,
- 47:33when you felt like, okay, the world is not something
- 47:36that happens to me, it's something that I can influence.
- 47:40I, by the way, I love that concept.
- 47:42That's actually, so one of the first interviews
- 47:45that I ever did when I did not know this concept
- 47:47and I didn't really understand the difference
- 47:50between internal and external locus of control
- 47:53was with Anthony Scaremochi,
- 47:55who was ironically Trump's director of communications
- 47:59for like 12 days, something like that.
- 48:00And then they got into like a fight
- 48:01when in his first presidency, and then he quit.
- 48:05Anyway, he's a big, he's a big finance guy.
- 48:10And I think I asked him, again, this was like very early on,
- 48:13so these were not like refined questions
- 48:15and I was like, what makes you so confident
- 48:17in your day to day, or what makes you so sure
- 48:20that you was there ever a point when you were sure
- 48:23you could be successful?
- 48:24And he's like, well, there wasn't like one point,
- 48:27but if I go back to, if I, if I lost everything
- 48:32and all I had was my apartment in Brooklyn
- 48:35and like the shirt on my back
- 48:36and no relationships, no money,
- 48:38he's like, I, with a hundred cents
- 48:39are in deep a do it again.
- 48:40And he was describing that concept.
- 48:42Like, it's split, like that was what he was describing.
- 48:44He didn't say it.
- 48:45He didn't say locus of control,
- 48:46but he was describing that concept.
- 48:48And that was one of the most, that was a very eye opening
- 48:52lesson for him.
- 48:53Like, yeah, that makes a lot of sense.
- 48:54Like you can't impact the things,
- 48:56you can impact your outcome, you can have agency,
- 48:59you can have like extreme ownership.
- 49:02Was there, was there a moment in your career
- 49:05when you felt that switch or in your life, excuse me?
- 49:07So this is I think a blessing of growing up
- 49:10in my, with my, my parents.
- 49:12So my dad immigrated here when he was 13,
- 49:14which really means my grandma is the one that brought us here.
- 49:17My dad, my dad's dad was murdered
- 49:19when he was like five years old.
- 49:20So my parent, my dad and my grandma,
- 49:23they faced like tragedy and adversity
- 49:26that I'll never face and they face the worst kinds.
- 49:29But when I was raised, I was raised with the belief
- 49:32that we left the bad place.
- 49:34It was Mexico, like dangerous Mexico.
- 49:37And we came to the good place, which was the USA.
- 49:41Now, whether you agree or disagree with us,
- 49:42this is a mindset shift.
- 49:44And the belief that I was, that I was given was like,
- 49:47here in this country, we can make change.
- 49:51We left the place where we could not.
- 49:53And so now it's up to us.
- 49:54And that's something like, my parents always instills me
- 49:57if I wanna, I can actually make it happen.
- 49:58I can work hard, again, work hard and sacrifice.
- 50:01These are things I had to work through.
- 50:03Not everything was amazing.
- 50:04But I never had the belief that the world
- 50:10or the system was rigged and we weren't gonna make it.
- 50:13We immigrated here, so we could make it.
- 50:16And so this is, I think, I'm not an immigrant.
- 50:19I was born here, but I have an immigrant mindset
- 50:21that I can make it here.
- 50:22And you don't have to be an immigrant
- 50:24to adopt an immigrant mindset.
- 50:25Why do people come to the USA to try to make it happen?
- 50:29The American dream is still alive.
- 50:30Like my parents are example, I'm an example,
- 50:32and it's a belief set that you have.
- 50:35Is the system perfect in America?
- 50:37No.
- 50:38But again, where is your locus of control?
- 50:40Am I gonna, I'm not a politician,
- 50:41so I don't try to focus on changing the system.
- 50:44And right now is an election, you know,
- 50:47it was election year and politics are super hot.
- 50:50And I think a lot of people waste time.
- 50:52If you're a politician, it makes sense
- 50:53to spend hours and hours each day
- 50:55keeping up on all the policy changes and stuff like that.
- 50:57But if you're not, again, are you happy
- 50:59with your circumstance?
- 51:00Do you believe you can make it happen?
- 51:01And here in this country, we can make it happen.
- 51:04And that's why, you know, people are in here
- 51:06and my family tree is like, we now are the most
- 51:09success we've ever been since moving here.
- 51:11You know, it's just something that I thought about a lot
- 51:13because obviously it's on Canadian.
- 51:15And I'm living through like a US elections, right?
- 51:18And a lot of, a lot of animosity and anger and anxiety.
- 51:23And I think that a lot of that is people focusing
- 51:26on the wrong thing, like you mentioned, right?
- 51:29I would hope that everybody in this audience,
- 51:31because I fully believe this.
- 51:33It doesn't matter who is in office.
- 51:36You have the ability to figure out
- 51:38how you want your life to end up.
- 51:40And yeah, maybe there's, and it's so interesting
- 51:45because even growing up, I think Canadians
- 51:48look at politics a lot differently than Americans.
- 51:51So Canadians, I remember growing up,
- 51:52my parents would vote for who was best
- 51:57for the municipal government.
- 51:59And then I guess state would be, would be provincial
- 52:01and then federal, and they weren't always politically aligned.
- 52:05So you could have like a left-leaning municipal leader
- 52:07who was committing to putting X amount of dollars
- 52:09into fixing roads and infrastructure.
- 52:11And then you could have a right-leaning,
- 52:13maybe federal, like at a federal level.
- 52:16And it was really about,
- 52:18it was really about who's going to be best
- 52:21for our day-to-day life.
- 52:24And I think that what I've seen is,
- 52:26I see that people skew all the way one way
- 52:29or all the way the other way.
- 52:30And they just all the way down,
- 52:31they vote one way or the other way.
- 52:33Which I don't actually think is the right way to vote.
- 52:34I think you should actually vote for the people
- 52:36that are going to best serve you.
- 52:37But regardless of that, I think that,
- 52:42I think that most people in this audience,
- 52:44I would hope understand that no one's going to serve you
- 52:47as well as you're going to serve yourself and your own family.
- 52:49Doesn't matter how aligned people are,
- 52:52you do have to take responsibility
- 52:54for your own happiness while you're on this earth.
- 52:58And I think that it's a great and empowering
- 53:01and scary fundamental shift all at the same time.
- 53:04But when you lean into it, it's so freeing.
- 53:08It's so freeing because it doesn't matter
- 53:09who's in the White House.
- 53:10I'm going to figure out my business.
- 53:12Okay, fine, you know what, taxes are not as great
- 53:14or taxes are better or whatever.
- 53:16I want to move to this state or that state
- 53:17or red state or blue state.
- 53:19But at the end of the day, I'm going to take accountability
- 53:22for, and you know what, there's a lot of people
- 53:24that are struggling in red states,
- 53:27a lot of people that are struggling in blue states,
- 53:29a lot of people that are rich as hell in red and blue states.
- 53:31So I mean, at the end of the day,
- 53:33you can have your politics
- 53:36and you can have your preference
- 53:37or one party or the other.
- 53:39But your day-to-day life is going to be entirely dictated.
- 53:44Maybe 99% of it is going to be dictated by your own actions,
- 53:47not by the actions of the government.
- 53:49And I think that's a very empowering idea.
- 53:52Anyway, so it's true.
- 53:54I believe it.
- 53:55One of the chapters in our book is actually
- 53:57your political party doesn't give a shit about you.
- 53:59Oh, is that, it's, it's worth it.
- 54:01It's solely a line.
- 54:01It's solely a line.
- 54:02Like it doesn't matter who's in office.
- 54:04If they actually did have the power to control our life
- 54:08in full and some governments have in our history,
- 54:11their idea of what, how our life should be,
- 54:14is never what you would want.
- 54:16It's scary.
- 54:17So you, like we live in a world today
- 54:19where you, you have the ability to change.
- 54:22And again, it comes down to internal versus external
- 54:24locks control, whatever the government does.
- 54:27It's not going to affect me.
- 54:28And that's, again, I'm saying that as a mindset,
- 54:30not like if they, if they can and I,
- 54:32at least in this free world.
- 54:33Yeah, no, I fully agree.
- 54:36When you think about, when you think about investing,
- 54:39like you mentioned before, so you want to invest in assets
- 54:41where you basically are now free, like you're free, right?
- 54:46Let's talk about a definition of success
- 54:48because you've mentioned this before.
- 54:50So start thinking rich is you make money.
- 54:54You systematize your business so that you don't have to be involved
- 54:58in every single day-to-day interaction, right?
- 55:02You start to invest and then you start to get freedom
- 55:05back into your life, which I think is, again,
- 55:08what entrepreneurship should be.
- 55:10So how do you define for yourself,
- 55:14for your family, for people sort of consume your company?
- 55:16How do you define freedom, success, all of that?
- 55:20Success to me is having the freedom of every single hour
- 55:25of my day up to me by choice of on what I'm doing.
- 55:29I have the choice to do whatever I like to do it,
- 55:33wherever I like to do it.
- 55:34And I also have the choice to change in pivot,
- 55:36because one time I gave a definition
- 55:38that was lesser flushed out a few years back
- 55:40when I was living in the van,
- 55:42and I said, financial freedom is successful
- 55:44about owning your time.
- 55:45And then someone, I got a really great troll comment,
- 55:47which I had a long conversation with,
- 55:49and they were right.
- 55:50It's like, what's the difference between you
- 55:51and a homeless person, because they own their time too.
- 55:54I was like, ooh, that's good.
- 55:55The difference is I have a choice.
- 55:57So I think when it comes to success,
- 55:59are you operating out of choice?
- 56:01Like freedom, time, and choice.
- 56:04Now, the next part of that is like,
- 56:07the choice to choose whatever you'd like to do.
- 56:08I think to me, that is the best definition of success
- 56:11and financial freedom, because I think they're combined.
- 56:13And then your choice, however you'd like to do
- 56:15with your time, I can't judge or shame you.
- 56:17That's totally how up to you and up to me.
- 56:20And we shouldn't judge or shame each other
- 56:23if you're operating out of time standpoint.
- 56:25The thing that I don't like about wealth success
- 56:29and how it gets displayed is like, again,
- 56:33just Lamborghini, because I'm in Miami,
- 56:34there's a lot of nice cars here.
- 56:37A wealthy person, first of all, it's okay to have nice things,
- 56:41but it's the difference between poor versus rich mindset.
- 56:44A poor person trades their time for nice things.
- 56:47So if you wanna buy a Lamborghini
- 56:49or cost $300,000 a year,
- 56:51and let's say you make $300,000 a year,
- 56:54you think, okay, if I say 30% of my income,
- 56:57after three years, I can buy the Lamborghini.
- 56:59But that's like time.
- 57:01How much time do I need to work to buy the Lamborghini?
- 57:04A wealthy person, a rich person, they don't think like that.
- 57:06They think, what investment do I need to put my money in,
- 57:10which is gonna pay me the amount of a Lamborghini
- 57:13every single year?
- 57:14And so they're not trading their time,
- 57:15they're putting money in investment that pays for
- 57:18all their lifestyle and more.
- 57:19And here's the thing, when you see a Lamborghini on the street,
- 57:21you don't know if someone has trade their time for it
- 57:24or someone has an apartment complex
- 57:26or some type of investment that's paying for it.
- 57:29That's the thing, it's really hard to spot the difference.
- 57:31So yeah, so then you, okay, so I understand.
- 57:33So this is how you structure your life now.
- 57:34So when this is how you,
- 57:36and this is what I think is a great entrepreneurship.
- 57:39I think great entrepreneurship is finding ways to invest
- 57:43against it, you can choose what you wanna spend your time on.
- 57:45I don't think that most people's entrepreneurship
- 57:48is building a unicorn publicly traded company.
- 57:52Because now you have, now you have this,
- 57:55I don't like using the term work life balance,
- 57:57but you have like balance, you have joy in what you're doing.
- 58:00When you're trying to build something that big, first of all,
- 58:06people's relationship with money is interesting.
- 58:09I don't think people actually need as much money
- 58:11as they think they do to be happy.
- 58:14I think that most people for Carlos
- 58:16whether or not you're like a self-defined minimalist,
- 58:20I think most people, I mean, to have a private chef
- 58:26to take the trips you want, to have a nice house.
- 58:29I mean, maybe if you're trying to buy
- 58:31a detached home in Manhattan, it's a little bit different.
- 58:33But in most parts of the US or the world,
- 58:36you don't need to be worth $100 million to do that.
- 58:39So why don't you build something
- 58:40that can afford you that lifestyle?
- 58:41Have you actually, have you ever figured out
- 58:43like your number that you're happy with
- 58:45in terms of how big you want to build the business
- 58:48or how much you want to take out
- 58:50in terms of salary or monthly
- 58:53so that you have this perfect lifestyle?
- 58:56Well, I'll be really transparent
- 58:59on what I'm doing out with my money.
- 59:04Every month, I dollar cost average $30,000 a month
- 59:07to the stock market.
- 59:09And then I also, my wife and I,
- 59:11we have four, for one of our companies,
- 59:13we have four one K and our company
- 59:16has a 100% match on it, super nice of them.
- 59:19And then so we do that and that's just automatic.
- 59:21Then I feel like maybe two, three times a year,
- 59:25we put like a hundred to 200,000 dollars down each
- 59:28on like an apartment complex.
- 59:31Do a syndicate.
- 59:32I don't want the responsibility
- 59:33of having my own property management company.
- 59:35So there's all my investments.
- 59:37Now, everything else is, to me,
- 59:39like if I can always do that baseline
- 59:41because I've ran the projections
- 59:43on what I'm doing right now,
- 59:44it's 100 million, like you just add time
- 59:47and it grows crazy amount with that.
- 59:50And that's what I'm doing right now,
- 59:51not including all the stuff that I've already invested.
- 59:54And to me, I've done the math and the projections
- 59:57like, what are you getting to that number
- 59:59through investment, not through work?
- 1:00:01Yeah, but I've already, like today,
- 1:00:03my last monthly, like my monthly cost of living
- 1:00:07is paid for my investments.
- 1:00:09My investments pay for like 18 to 20,000 dollars a month.
- 1:00:12That's where I'm living off of.
- 1:00:13So I spend more than that sometimes.
- 1:00:16Like my wife and I were in Asia
- 1:00:18for pretty much the whole year.
- 1:00:20And most of that was like credit card points
- 1:00:23and stuff of benefits of spending.
- 1:00:24But to me, that's like my number.
- 1:00:29Like I'm not living a 50 or 100,000 hour per month lifestyle.
- 1:00:33There's been months where I've spent that,
- 1:00:35but it wasn't consistent, but my investments pay
- 1:00:38for everything.
- 1:00:39To me, that's at the number is like really dynamic
- 1:00:40based off your lifestyle, but it's not like a million dollars a month.
- 1:00:44It's not like you, like so your life,
- 1:00:48and I'm putting words into your mouth.
- 1:00:49So tell me if I'm wrong, but I mean,
- 1:00:50the way that you enjoy living your life,
- 1:00:52and I think most people will look at you
- 1:00:54and be like successful entrepreneur
- 1:00:55and he's killed and he's built good businesses.
- 1:00:59The way that you're living your life
- 1:01:00would not be significantly better
- 1:01:03in terms of what you consider to be better
- 1:01:06if you are making another 100% per month.
- 1:01:08Like that's not something that's actually valuable.
- 1:01:10So when you go through that mental framework
- 1:01:13or that mental model,
- 1:01:14it doesn't actually make sense to have to work
- 1:01:17an extra 40 hours a week to make that money
- 1:01:19for the chance of spending 500 grand a month
- 1:01:25because that's not going to dramatically impact
- 1:01:27or improve your lifestyle.
- 1:01:29Yeah, I agree.
- 1:01:30I think my, I have nice stuff.
- 1:01:34I don't want to make clear.
- 1:01:35I still have my van, but I have a $1,000 home.
- 1:01:38I spent $40,000 on a pickable courier on my house last month.
- 1:01:42I have a sonic coal plunge, I have a cybertruck.
- 1:01:44So I have some nice stuff, but again,
- 1:01:45all of it's paid for with the investment income.
- 1:01:48And then anything my bonus does is extra, right?
- 1:01:51So again, I have to talk to someone
- 1:01:55who has a million dollar per month lifestyle
- 1:01:58and they would be the best person to know, like, oh yeah,
- 1:02:01to when I was only spending $100,000,
- 1:02:03I'm a million dollars a month more happier.
- 1:02:05But I don't know what that's like
- 1:02:07because I'm the first person in my family
- 1:02:09to have made it this far.
- 1:02:10And now I get to be in rooms
- 1:02:12where I'm learning from the people.
- 1:02:14And you know what to be honest?
- 1:02:15I don't know if I've met someone
- 1:02:17who is spending a million dollars a month ever in my life.
- 1:02:19I want to take a second and thank Range Rover Sports
- 1:02:21for supporting today's episode.
- 1:02:23Now, let's talk about tools that match your ambition,
- 1:02:26that match the ambition of everybody who's listening today,
- 1:02:29who has taken risks, who has upleveled
- 1:02:32their personal professional development,
- 1:02:33who's tried to build their own thing.
- 1:02:36Everybody listening gets it.
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- 1:02:41the challenge that you're taking on
- 1:02:43it finally starts to take off.
- 1:02:45There is like this rush of excitement and possibility
- 1:02:48and that feeling, that feeling that you get
- 1:02:52when you get behind of the wheel of a Range Rover Sport
- 1:02:54because we've all had that perfect drive
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- 1:03:54today.
- 1:03:54You know, to be honest, I don't,
- 1:03:57and I interview people for a living
- 1:03:58and I interview people that have sold companies
- 1:04:00for over a hundred million several of them.
- 1:04:03And I'd actually interview a couple billionaires,
- 1:04:05but that's a different level.
- 1:04:07So the billionaires aren't spending
- 1:04:09and people that are even worth hundreds of millions,
- 1:04:11they're not spending money on their own life.
- 1:04:13They have a more complicated infrastructure.
- 1:04:16So now they have portfolios of companies
- 1:04:18and they're taking on bigger challenges.
- 1:04:23But then that forces you to ask yourself the question,
- 1:04:27well, do I want to be managing that?
- 1:04:30Is that useful to me?
- 1:04:32Because it's not actually impacting my day to day.
- 1:04:35I can have maybe a bigger impact on the world.
- 1:04:38If that's important to you,
- 1:04:39there's lots of different ways to do that.
- 1:04:41But is it actually impacting how I live my life?
- 1:04:43The restaurants I go to,
- 1:04:45I don't really care about owning a sports team
- 1:04:47and I'll send people, maybe they, their mind may do.
- 1:04:49But for most people, I think that this is,
- 1:04:52I think this is just like realigning
- 1:04:53what true entrepreneurship and true success looks like.
- 1:04:56And by the way, there's a lot of people
- 1:04:58that are worth a significant amount of money
- 1:05:01that do have poor health.
- 1:05:02Broken relationships are,
- 1:05:06they don't have a relationship with any of their first two,
- 1:05:08three, four wives and then their kids.
- 1:05:10So I think you have to think about
- 1:05:11what you actually want to get out of this game.
- 1:05:14Yeah, that's so good.
- 1:05:15Now we're talking about like your whole lifestyle design.
- 1:05:21Because like you look healthy,
- 1:05:24I'm healthy like what we have to say.
- 1:05:27Some days I'm better than others.
- 1:05:29Right, but also like there's examples
- 1:05:33of people who sacrifice everything to make money
- 1:05:35and money is, it can't be the North Star.
- 1:05:37It's like what can money give you?
- 1:05:39It's having vision and otherwise there are stories
- 1:05:44of sad billionaires and sad millionaires.
- 1:05:46But I think if you work on lifestyle design,
- 1:05:50I think the more money you make,
- 1:05:52I do believe you can live a better life.
- 1:05:55There was a study done, it's quoted,
- 1:05:57I don't know if you've ever heard this
- 1:05:58in a lot of money books that if you make $75,000 a year,
- 1:06:02that is like dollar per happiness.
- 1:06:05It's like a peak of happiness.
- 1:06:07I mean, dollar per happiness ratio.
- 1:06:09Yes, but it's been disproven.
- 1:06:11But when I was younger and I was reading money books,
- 1:06:13I believe that I needed to make $75,000 a year
- 1:06:16and I didn't want to make $85,000
- 1:06:18because that means that would be $10,000 less happy.
- 1:06:20But it's been disproven recently
- 1:06:21and disproven what we already knew.
- 1:06:25It's like, if you make more money
- 1:06:27and how you make that money and you get more time
- 1:06:29and you can own your time,
- 1:06:31because $75,000 is really just middle class.
- 1:06:33And that's why it was like a sense of just being the average.
- 1:06:37But it's money, I don't think there's a limit on it,
- 1:06:39but you have to work hard on lifestyle design
- 1:06:42otherwise you get lost.
- 1:06:43I think there is also,
- 1:06:44I think there is diminishing happiness returns.
- 1:06:46Like if you are managing a,
- 1:06:49if you're managing a portfolio of companies
- 1:06:52worth over 100 to 500 million
- 1:06:54or a billion dollars plus,
- 1:06:55like that's added stress
- 1:06:56that is going to take away from your lifestyle design.
- 1:06:59And I think most people should optimize for lifestyle.
- 1:07:01I think that is where most people should end up
- 1:07:03and would be happy ending up.
- 1:07:07What was I going to say?
- 1:07:08No.
- 1:07:09So as you sort of grow in your business,
- 1:07:12fast forward to today,
- 1:07:14talk to me sort of about like the different ways
- 1:07:16that you make money
- 1:07:18because you're not solo printer,
- 1:07:20but I would say that you have perfectly sort of lived
- 1:07:23like the rich mindset in the way
- 1:07:25that you have a great relationship with money.
- 1:07:29You've bought back a lot of your time and your freedom.
- 1:07:32You do the things that you want.
- 1:07:33Like we're talking, I was asking like,
- 1:07:34what are you doing in Miami?
- 1:07:35I'm like, I'll see.
- 1:07:36I'll see, I'm just enjoying the,
- 1:07:37I'm enjoying what are we, we're a Monday.
- 1:07:40And you're just,
- 1:07:41and you're able to just come here,
- 1:07:42hang out, relax,
- 1:07:44spend a couple hours drinking coffee, people watching.
- 1:07:47Like you have a beautiful family.
- 1:07:50Like for most people, that's like the goal, right?
- 1:07:52That is really the goal.
- 1:07:53So I wanna understand sort of all the different things
- 1:07:57that you've done successfully and not successfully,
- 1:08:00just so people can learn from different things
- 1:08:03you've tried in your business all the way from
- 1:08:05when you were doing like the break dancing tutorials
- 1:08:08all the way through to now.
- 1:08:10Cool.
- 1:08:11Well, that's a lot.
- 1:08:12I know it is.
- 1:08:13So I want it,
- 1:08:14because I think that there's a very entrepreneurial audience
- 1:08:15when they look at you,
- 1:08:16they look at you as an avatar of,
- 1:08:19I love this version of entrepreneurship.
- 1:08:22I have a small team.
- 1:08:23I don't work too too hard.
- 1:08:25I make good money.
- 1:08:26I can afford to care my family.
- 1:08:27I can afford to care myself.
- 1:08:29Like, so, okay.
- 1:08:30So what are the things that I should be doing to do this?
- 1:08:33If I, I'm listening to Scott,
- 1:08:36I don't want to go start a venture backed software company
- 1:08:40because that's gonna, again, it's gonna be ambitious
- 1:08:42and it's probably gonna put more drain on me than I want to.
- 1:08:45So what's the lifestyle?
- 1:08:47And what are the business pieces that I can build?
- 1:08:49Cool.
- 1:08:50And I'm an open book about money all the time.
- 1:08:52That's why I'm asking you.
- 1:08:53Yeah, because I figured a context for now.
- 1:08:57Like, this is gonna be the sixth year
- 1:09:00that I'm gonna make seven figures in profit.
- 1:09:03Fabulous, amazing.
- 1:09:04Yeah, that's great.
- 1:09:05Congratulations.
- 1:09:06It's ranged from literally like 1 million to two million,
- 1:09:11usually.
- 1:09:11And I haven't made more than that in terms of profit.
- 1:09:14Some people, if you look at my like last year,
- 1:09:17they would say, oh, you're in a plateau.
- 1:09:19My favorite thing is when I see ads like,
- 1:09:20are you stuck making a million dollars
- 1:09:22but you want to make 10?
- 1:09:24I'm like, I don't feel stuck.
- 1:09:25I like this.
- 1:09:25I'm totally okay with this.
- 1:09:27And could I make more money?
- 1:09:30Definitely.
- 1:09:30I could work way more.
- 1:09:32I have one meeting every single day.
- 1:09:33It's at 130 PM.
- 1:09:35That's my only meeting.
- 1:09:37Promote this book.
- 1:09:38It was not my normal schedule.
- 1:09:40I've been traveling and doing a lot of shows,
- 1:09:4270 podcasts, last couple of months.
- 1:09:44So that's kind of the world I'm operating in.
- 1:09:46So I'm not, I'm not making 10 million dollars a year profit.
- 1:09:50I'm not like 100, not 100 millionaire.
- 1:09:52So that's, that's the true context.
- 1:09:54Now, back with my first product teaching dance tutorials,
- 1:09:58I'll just fast forward because I tried pretty much
- 1:10:00every way of making money online,
- 1:10:01except for selling feet picks,
- 1:10:03you know, untapped potential, I think.
- 1:10:05By like dropshipping, I tried selling stuff on Etsy.
- 1:10:11I like dropshipping 2016,
- 1:10:132017 was like really popular.
- 1:10:15I got, I tried it.
- 1:10:16I actually, I did well,
- 1:10:18but like what I was doing is I was selling a lot of products one time.
- 1:10:22And that's why entrepreneurship always felt like a grind.
- 1:10:24It's like I'd find a winning product and I'd sell it.
- 1:10:27And then the winning product would,
- 1:10:29would die like fidget spinners.
- 1:10:30For example, like, dude, thank you for all the people
- 1:10:33who bought fidget spinners for me.
- 1:10:34Like, and then and then fidget spinners,
- 1:10:35like you don't see them anymore.
- 1:10:36Like so I was like writing these trends.
- 1:10:38And it was like a lot of money, no money,
- 1:10:40a lot of money, so it was definitely the role coaster.
- 1:10:43And then today I feel like I,
- 1:10:46no, it was like a few years ago,
- 1:10:47I started also selling a lot as an affiliate.
- 1:10:53And there was one company that kind of switched my mind,
- 1:10:56like, oh, this is much easier.
- 1:10:58I was the number one affiliate for a company called Ladyboss
- 1:11:01in the ClickFunnels community.
- 1:11:02I know if you know them, like they were really,
- 1:11:04I don't know the company.
- 1:11:05I know ClickFunnels and Russell Brunson built them massive.
- 1:11:07Yeah, they're, yes, Ladyboss was like their poster child
- 1:11:11of one of the most successful brands besides Hermoses.
- 1:11:15And so I became their number one affiliate.
- 1:11:17And that was the first time I really scaled something
- 1:11:19that had rear-caring revenue supplements,
- 1:11:21you take it, if it works, you keep buying it.
- 1:11:24So I was getting like $30,000 a month affiliate checks
- 1:11:27payments from them.
- 1:11:28And I was like, wait a second,
- 1:11:29I actually, I didn't have to hustle all the time
- 1:11:32and make another $30,000,
- 1:11:34because it was like recurring.
- 1:11:36Now that was of course churn array,
- 1:11:37it wasn't always $30,000.
- 1:11:38If I left it alone, it would go $30,000, maybe $27,
- 1:11:41like it was losing.
- 1:11:42But still, that rear-caring revenue is like, oh my gosh.
- 1:11:45I need to find more things that are really great products
- 1:11:48that have a rear-caring revenue.
- 1:11:50And then, so that was a few years ago
- 1:11:51and I stopped trying to sell a bunch of things one time.
- 1:11:55It's like, I was like an addict for like launches.
- 1:11:57I was like, what's the next launch?
- 1:11:59I need to find the next launch.
- 1:12:00And then I learned like, dude,
- 1:12:02there's a much smarter way, harder way,
- 1:12:04but smarter way to grow your businesses
- 1:12:06is like, look for a rear-caring revenue opportunity.
- 1:12:09So my most recent business I launched was,
- 1:12:14this is crazy if you don't know this.
- 1:12:16I think this is one of the greatest opportunities
- 1:12:18right now as a entrepreneur.
- 1:12:20There's a company called Go High Level out there
- 1:12:23and they're doing something that's insane.
- 1:12:25They are, first of all, mark my words,
- 1:12:27they're gonna take out HubSpot, like they're on the way.
- 1:12:31But instead of just being like HubSpot
- 1:12:33or being like a CRM place where you,
- 1:12:35it's all in one solution,
- 1:12:37they allow you to white label their product.
- 1:12:40So they're like democratizing software.
- 1:12:42So it makes you look like you have your own CRM
- 1:12:46that you built.
- 1:12:47CRM website places in my emails, like host my classes,
- 1:12:49like it's a full solution.
- 1:12:52So I, now I'm a proud owner of a software company
- 1:12:55called Bramify, again, it's high level,
- 1:12:58but I launched that and I launched that in March
- 1:13:00and on the day I launched
- 1:13:01because I had social media leverage.
- 1:13:04Day when I launched I had 50,000
- 1:13:06in recurring revenue and it's mine.
- 1:13:08It's my software.
- 1:13:09What's my cost to white label?
- 1:13:10It's a thousand a month.
- 1:13:12Wow.
- 1:13:13A thousand a month.
- 1:13:14And every time high level you don't have,
- 1:13:15I mean, when you do something like that,
- 1:13:17you don't have any of the overhead
- 1:13:18or the employees or the headache or the anything.
- 1:13:20Nothing.
- 1:13:21Nothing.
- 1:13:22And my cost is a thousand dollars a month
- 1:13:23to white label high level and high level.
- 1:13:26You know, you wanna talk about like the fear of like,
- 1:13:29well, you're tied to high levels, developers like,
- 1:13:32yes, I'm glad I'm tied.
- 1:13:33Because they make new updates like five to 30 updates
- 1:13:36every single week on their app.
- 1:13:38And like I just went to their conference
- 1:13:39and they're doing like almost like copying
- 1:13:41the Microsoft developers, developers, developers.
- 1:13:43Like a deep bomb.
- 1:13:44Yeah.
- 1:13:45Yeah.
- 1:13:46Like that's what they're saying over there
- 1:13:47because they're going so fast.
- 1:13:48Now that, now like again, I'm always in tune
- 1:13:53like what's a recurring revenue opportunity?
- 1:13:55And right now to me, that's one of the best ones right now.
- 1:13:58They have AI employee integrated.
- 1:14:00Like they're super great.
- 1:14:02And so I launched that.
- 1:14:03I have a lot of my people that follow me.
- 1:14:05They're the side hustlers.
- 1:14:06They work a job that easy.
- 1:14:08They're unfulfilling or very demanding.
- 1:14:10And they're looking at ways to trying to stop
- 1:14:12training time for money.
- 1:14:14I don't, a lot of people that are like exiting companies
- 1:14:16that this is where our audience are different.
- 1:14:18I don't think I don't think people follow me
- 1:14:20that have already established and are huge.
- 1:14:22But they're more of like either entrepreneurs
- 1:14:25trying to scale my audience as a mix.
- 1:14:27Yeah.
- 1:14:28And some of some of the cheap like success
- 1:14:30and they're a little bit later on for sure.
- 1:14:33But I think just, I mean, I think most audiences
- 1:14:36just in terms of like if you create entrepreneurship content,
- 1:14:39I mean, more people have more people are in the starting phase
- 1:14:43or the building phase than the exit phase.
- 1:14:45I mean, that's just the general population
- 1:14:48have not achieved massive success.
- 1:14:49That's why 99% companies fail, right?
- 1:14:51Like most people are still in building sets.
- 1:14:53I think that's still very applicable to,
- 1:14:57it's applicable.
- 1:14:58First of all, tools are great.
- 1:15:01But also people are trying to figure out ways
- 1:15:04to make money and escape the nine to five.
- 1:15:06And affiliate, I don't know affiliate world that well.
- 1:15:11It's very interesting to me.
- 1:15:12I always sort of champion how to create products
- 1:15:17that you can take to market that you've built yourself
- 1:15:20or even find ways to take small equity positions
- 1:15:24and companies.
- 1:15:25But I guess affiliate's just another way of doing that.
- 1:15:28How do I find something that's super low risk
- 1:15:30that is something I can do without investing
- 1:15:33too much of my own money?
- 1:15:35That's really what it is at the end of the day.
- 1:15:36So whether or not it's you create an info product
- 1:15:38or you create an audience and you find a way to leverage that
- 1:15:42or you take a small equity position in the company
- 1:15:45which would actually take a lot of your money
- 1:15:46unless you have an audience to leverage.
- 1:15:48Or if you do affiliate, it's all about like,
- 1:15:49how do we de-risk entrepreneurship
- 1:15:52from more of lifestyle as opposed to you trying to build
- 1:15:55the next Facebook or meta which most people
- 1:15:58are not trying to do?
- 1:15:59Yeah, I think if you're a marketer,
- 1:16:02once you, I'm curious once you dive into
- 1:16:04for the marketer if you will.
- 1:16:06I will, 100%.
- 1:16:07Now I'm gonna ask you some follow-up questions.
- 1:16:08Okay, I'll do that.
- 1:16:09Because you're gonna feel like,
- 1:16:10oh my gosh, there's so much opportunity.
- 1:16:13Because here's, here's been like my go to market strategy
- 1:16:16when I find a company that is small
- 1:16:19but has an amazing product and is terrible at marketing.
- 1:16:23So I basically take on their marketing
- 1:16:26instead of being like, hey, I'm your marketing agency.
- 1:16:28You pay me $5,000 a month to run your marketing.
- 1:16:31I just do it with their affiliate offer
- 1:16:33and I make a commission.
- 1:16:34And in some products, there's enough room in there
- 1:16:37where I can run ads as an affiliate
- 1:16:39and make 30%, 40%, 20%.
- 1:16:42And I feel like, like, I'm a number one affiliate
- 1:16:44for hundreds of companies like PT, TriggerGill.
- 1:16:49Like, how do you not over,
- 1:16:51how do you not over saturate your audience?
- 1:16:54Oh, that's a great question.
- 1:16:55Okay, that was always my concern.
- 1:16:56I'm like, I have sponsors for the podcast
- 1:17:00but I'm only working with like five or six sponsors
- 1:17:02at the same time.
- 1:17:03Like, if I, if I,
- 1:17:04looks like shoot out a newsletter
- 1:17:06every time podcast goes live and enlist
- 1:17:08like all the sponsors that I'm working with.
- 1:17:10And if I had like a list of a hundred,
- 1:17:12I honestly be like, what the?
- 1:17:13Like, yeah, Scott, yeah, you okay?
- 1:17:15Like, you sell out.
- 1:17:16Yeah, like you sell out.
- 1:17:17You want like help?
- 1:17:18Can you afford like the food on the table?
- 1:17:19Yeah.
- 1:17:20That's what I've always been concerned about.
- 1:17:22This is, especially with how big your audiences are now,
- 1:17:25it's much easier to do this.
- 1:17:26If you don't have an audience, this is harder to do.
- 1:17:29But you can segment your audience using an ad
- 1:17:33that of like only making sure that the people
- 1:17:36that are interested should see this offer.
- 1:17:38And that's essentially what I do
- 1:17:39and then create lookalikes off that data.
- 1:17:41And then testing if it scales
- 1:17:44and you scale with that data or not.
- 1:17:45So it's, it's just really a paid ad strategy,
- 1:17:47but it first starts with instead of cold traffic,
- 1:17:51which is always the most riskiest
- 1:17:52and most expensive, you're using your warm audience
- 1:17:54to build it and then you scale it that way.
- 1:17:56So for example, like,
- 1:17:59hasty bake charcoal grills and another grill
- 1:18:01that I love and I use,
- 1:18:03not everyone likes grilling an audience, right?
- 1:18:05So I, instead of just saying like,
- 1:18:08this is brought to you by whatever company,
- 1:18:10I basically target and segment the people appropriately
- 1:18:15based on the offer, reach it to them.
- 1:18:17And that's where like the hot audience,
- 1:18:19I might make some commissions or not.
- 1:18:20And that might tell me that's not working.
- 1:18:22And then if it does work,
- 1:18:23trying to scale through the ad game
- 1:18:25of like using lookalike like offer.
- 1:18:27So I think that's how you can promote many things at once,
- 1:18:31which without ever feeling a sell it,
- 1:18:32because you look at my any of my social media,
- 1:18:34you won't ever see me promote a product or brand,
- 1:18:37except high level,
- 1:18:38because I am a big adry guy to remain.
- 1:18:40That's my, that's the only brand deal I have right now.
- 1:18:43And I'm a big advocate.
- 1:18:44I'm, again, I'm married,
- 1:18:45I'm super married to them, like all in on that brand,
- 1:18:47because I have a software coming because of them.
- 1:18:50Like, and I've been a,
- 1:18:51I'm a top affiliate for them as well.
- 1:18:54But besides that one company,
- 1:18:56I still promote like right now,
- 1:18:57I've like probably like 70 different ad campaigns,
- 1:18:59really small, really small campaigns that might be like,
- 1:19:03range from like literally a dollar to $30 a day,
- 1:19:06marketing off either some segmented audience of mine
- 1:19:10with a product offering to a lookalike audience now,
- 1:19:13that's trying to scale.
- 1:19:14That's very smart.
- 1:19:16So, okay, so when you,
- 1:19:18when you look at different affiliate offers,
- 1:19:20what, just to sort of set a baseline,
- 1:19:22what's a good affiliate offer?
- 1:19:23Like what do you look for?
- 1:19:24Well, I look for today is different from at the beginning.
- 1:19:27Today, by the way, just to clarify,
- 1:19:28this is the majority of your business.
- 1:19:30The majority of your revenue is affiliate.
- 1:19:33That is, it is like what's a breakdown percentage wise
- 1:19:35of like affiliate versus do you have your own product
- 1:19:38you sell as well, or no, is it just?
- 1:19:39I do have some,
- 1:19:41some info products like classes,
- 1:19:43but I don't,
- 1:19:45I'm not selling it much right now.
- 1:19:47I like, like,
- 1:19:48it probably does like 25,000 a month in my info products,
- 1:19:52but that used to be higher.
- 1:19:55I used to be a lot higher.
- 1:19:56Like, back a few years ago when I first created it,
- 1:19:59I was like really excited about it,
- 1:20:00but I feel like I still,
- 1:20:03it changes.
- 1:20:04My income changes a lot of,
- 1:20:06I liked, I loved teaching people.
- 1:20:09There was a burden that there's a price to pay to teach
- 1:20:13before I used to just talk about affiliate marketing
- 1:20:15on TikTok, especially when I lived in a van.
- 1:20:16This is when I went really viral.
- 1:20:17I think like 183 million views on my TikTok.
- 1:20:20And I didn't teach people.
- 1:20:22And then when I created a class,
- 1:20:24the day after I created the class,
- 1:20:26and I created the class because my audience wanted to,
- 1:20:27like they were begging me for it.
- 1:20:29Then when I created the class,
- 1:20:29then I started getting comments like scammer, guru,
- 1:20:32like faker, fraudster.
- 1:20:34This guy only makes money from selling classes.
- 1:20:37And again, it was like whole like flip of the switch.
- 1:20:40And mentally it really,
- 1:20:41it like bothered me a lot.
- 1:20:43People's first impressions like,
- 1:20:44oh, you have a class.
- 1:20:45Like that's how you only make money teaching people
- 1:20:47how to make money.
- 1:20:48But I was like, do what I've been doing this for years.
- 1:20:49But again, how can I blame someone
- 1:20:51when their first impression is me
- 1:20:52and like saying, hey, do you want to learn
- 1:20:54how to start a side household?
- 1:20:56And then you just make assumptions.
- 1:20:58So that's why I like, I do have classes,
- 1:21:00but it's not a prominent income.
- 1:21:03I still always will try to be like more of an athlete
- 1:21:05than a coach at the interesting.
- 1:21:07Yeah, no, I think that's why I've hesitated to put out
- 1:21:11like info products for so long
- 1:21:13because it's such a negative, it's so silly.
- 1:21:14Like just such a negative connotation.
- 1:21:16I think the negative connotation comes from,
- 1:21:18well, she made so much money in his real life.
- 1:21:21Why would he be selling a course?
- 1:21:22I mean, that's a stupid argument
- 1:21:24because like, why would if you know something
- 1:21:26and you can compress time for somebody
- 1:21:29by teaching them something that you spent the last 15 years
- 1:21:31of your life figuring it out?
- 1:21:33I mean, there's, I don't see any harm in selling that.
- 1:21:36But people have a,
- 1:21:39people have an adverse reaction
- 1:21:40to like selling courses on the internet.
- 1:21:42Yeah, it is a limiting belief.
- 1:21:44Like, yeah, if you have, if you're sitting,
- 1:21:46that's a four mindset.
- 1:21:47It is.
- 1:21:48And if you're sitting on a course again,
- 1:21:49I want to encourage you to launch it.
- 1:21:50I would, I would love to encourage you to launch it
- 1:21:53because I even got a comment on my book
- 1:21:55when I started promoting it heavily.
- 1:21:56It was like, this guy just makes money from his books.
- 1:21:58And I was like, well, if he only knew
- 1:22:00that there's actually no money in books.
- 1:22:02For the record, so I'm researching this now
- 1:22:05because I'm trying to figure out how to write my own.
- 1:22:08And there is zero money.
- 1:22:09Like, absolutely, I mean, you've lived it.
- 1:22:10I'm like, now I'm understanding.
- 1:22:12There's no money in writing books.
- 1:22:13So that book better be used for something else.
- 1:22:16It better be used as like a top of funnel
- 1:22:18or a lead man or something.
- 1:22:19But there's no money.
- 1:22:20Like, you're not gonna,
- 1:22:21we're not like, we're not all like Seth Godin
- 1:22:24or like James Clear here.
- 1:22:27Yeah.
- 1:22:27And I don't actually don't know if I'm allowed to say
- 1:22:30so I'm not, but we did get an advance.
- 1:22:32And definitely like, it was a great advance.
- 1:22:34All 100% of the money went back into the book.
- 1:22:37And then like, because we wrote it as shared before,
- 1:22:41we were like, there's not a chat GPT book.
- 1:22:43It's also a book that I didn't write to sell you something.
- 1:22:45Like, this book will change your life.
- 1:22:47It's like, it's like a love, love of labor book.
- 1:22:49So all the money goes back in.
- 1:22:52I've been traveling around the country
- 1:22:53for the last three months on my own dime.
- 1:22:55I have thankfully businesses that support all this.
- 1:22:58But why am I doing all this?
- 1:22:59If it's not money, it's because it's impact.
- 1:23:01So the reason why I changed with this project,
- 1:23:03and this is actually the first time
- 1:23:05that I have my focus is impact.
- 1:23:07I want to get this book as many hands as possible
- 1:23:09to help people achieve financial freedom and think rich.
- 1:23:12And that's the goal, that's the reason why.
- 1:23:15Versus like, this is my next million dollar business.
- 1:23:17It's not how I'm thinking about it.
- 1:23:18Yeah, okay.
- 1:23:19So now I kind of understand sort of the breakdown
- 1:23:22of where all the income come from.
- 1:23:24But go back to my original question.
- 1:23:26So affiliate is a significant portion of your business.
- 1:23:30How do you, when you're looking at affiliate opportunities?
- 1:23:34I mean, go high level.
- 1:23:36I understand like the white labeling.
- 1:23:38And obviously that's not something
- 1:23:39that's normal for most affiliate opportunities.
- 1:23:43What makes a good affiliate opportunity?
- 1:23:46So you mentioned recurring revenue.
- 1:23:48I'm assuming there's a component is like percentage
- 1:23:51of what's the percentage of the deal that I'm getting.
- 1:23:55What's, is it like, there's like a cookie length involved
- 1:23:57in that or like, talk to me about like,
- 1:23:59how you store something like a good affiliate opportunity?
- 1:24:01Yeah, I think you're going down the list
- 1:24:03and I think the best programs are already like
- 1:24:05reoccurring revenue, cookie window, at least 30, 60 days.
- 1:24:09The commission percentage is depends.
- 1:24:12Because there can be really high ticket offers
- 1:24:15where if you just say everything that,
- 1:24:17if I just said blanket, 30%,
- 1:24:19that's the best commission rate.
- 1:24:20But it doesn't make sense.
- 1:24:21If the, if what if you're selling something
- 1:24:22that is like $25,000 and they have few five percent?
- 1:24:25Pretty solid.
- 1:24:27So that, that definitely depends.
- 1:24:29I think the product, the AOV average order value
- 1:24:33of what you're promoting matters lifetime commission also,
- 1:24:37even if it's not reoccurring revenue
- 1:24:38but it's lifetime commission, this to me is a big one
- 1:24:40because this is my audience.
- 1:24:42I work so hard to get, I create so much content for it.
- 1:24:46I'm going to tell them or I'm going to use data
- 1:24:49to spend my own money on ads, which you're not paying me for
- 1:24:52to then send to your bring you a customer.
- 1:24:55I brought you that customer.
- 1:24:57I deserve to get, I earned the right to get paid
- 1:24:59every time that customer pushes from you,
- 1:25:01even if it's not a subscription,
- 1:25:02that's how I feel as an affiliate.
- 1:25:04Because I would not fill that way if you said,
- 1:25:07you're, Adrian, we're going to pay you
- 1:25:08or your marketing company at $1,000 or $10,000 a month
- 1:25:11as a base and then every customer
- 1:25:13you make a commission on.
- 1:25:14But because I'm doing it as an affiliate
- 1:25:16for free on my end, taking all the risk,
- 1:25:18I should, I should get lifetime commissions on it.
- 1:25:21So I think those make up my, my best,
- 1:25:23what, what I think are the best programs out there.
- 1:25:26And if I look at all my affiliate programs,
- 1:25:27they don't all follow that.
- 1:25:29Because sometimes they're just a really good company,
- 1:25:31a really good product and they,
- 1:25:33they don't want to make those offers,
- 1:25:34but you should still probably promote it
- 1:25:36if there's, if it makes sense.
- 1:25:37I think another person who does a lot of affiliate
- 1:25:40is like Pat Flynn with Smart.
- 1:25:42Dude, that's how I learn from, man.
- 1:25:43Yeah.
- 1:25:44He's like the OG, like Pat Flynn Tim Ferriss
- 1:25:47were like really early, like,
- 1:25:48I didn't know Tim Ferriss was into affiliate.
- 1:25:50I think, I don't know if he was into affiliate,
- 1:25:52but in his book for our work week,
- 1:25:54when I first read it, like when I was 20,
- 1:25:56he talked about affiliate as one of the business models.
- 1:25:58It's a smart model.
- 1:26:00I actually haven't ever,
- 1:26:02I've never spoken to somebody that's used ads for affiliate.
- 1:26:07I think if I remember like the set that I've learned
- 1:26:09from Pat Flynn and I'm not an expert in affiliate, obviously.
- 1:26:12But he was talking about like organic traffic and blogging
- 1:26:16and that was like a big piece of it.
- 1:26:18Have you ever included that in your strategy, too, or?
- 1:26:20I used to, I used to and then I,
- 1:26:23it's like, it was an OG strategy,
- 1:26:24but I did it all in dance, I dance related stuff
- 1:26:27and it really didn't make that much money.
- 1:26:29And for sure, regrettably,
- 1:26:32I wish I was a creative business content blogging.
- 1:26:35Like Pat Flynn, he made most of his money
- 1:26:39as an affiliate from Bluehost.
- 1:26:40So think of all the thousands of tens of thousand people
- 1:26:44that learn how to build a website and blog from Pat Flynn.
- 1:26:48And then he has permanent reoccurring revenue
- 1:26:50as long as that person has a website, which is very sticky.
- 1:26:53He makes a small percentage, but that I believe sometimes
- 1:26:56on his, like before he used to do these income reports
- 1:26:59to show how much money he made.
- 1:27:01And I've done that, I tried that a little bit
- 1:27:02and then I was like, I don't think I want to do this, right?
- 1:27:06But and he stopped it, too,
- 1:27:07because his numbers were getting crazy.
- 1:27:08Like he was making like 80,000 a month or something
- 1:27:11based off people's hosting.
- 1:27:13It's crazy.
- 1:27:14So your strategy, mostly right now, is hats,
- 1:27:16is the predominantly hats, just some like words of wisdom
- 1:27:22on like what makes a good ad?
- 1:27:24Because I think that, you know, very tactically.
- 1:27:26So you find, and you're using meta,
- 1:27:28I'm assuming from most of this.
- 1:27:30Meta Facebook TikTok.
- 1:27:31Meta Facebook TikTok.
- 1:27:32Or Meta, Meta, Meta, Meta is Facebook.
- 1:27:35Meta Instagram, Meta Instagram, yeah.
- 1:27:37I, I, listen, it's rare that I call Twitter X
- 1:27:40and it's rare that I call Facebook Meta.
- 1:27:42So it's like, don't, I'm just on my best
- 1:27:45because I'm recording.
- 1:27:45That's the only reason I last put it.
- 1:27:47My day-to-day I always screw it up.
- 1:27:49So Facebook, Instagram, same difference, really.
- 1:27:53And TikTok.
- 1:27:55Best advice for people that are, and split your answer
- 1:27:58because there's different advice you're gonna give
- 1:28:00for Facebook and different Facebook Instagram, I'd say,
- 1:28:03and then there's different advice for TikTok.
- 1:28:04Cause I know nothing about TikTok ads at all.
- 1:28:06I've run a lot of Facebook campaigns or meta-camping.
- 1:28:09Best advice for somebody trying to understand
- 1:28:12Facebook ads, Instagram ads, you don't have to go
- 1:28:14on the rabbit, it was a lot.
- 1:28:16But what would be some like, sort of like higher level ideas
- 1:28:19or wisdom?
- 1:28:20I'll show two things.
- 1:28:21One is this answer is always gonna be correct.
- 1:28:24And then two, this is what's working right now,
- 1:28:26which may not be correct.
- 1:28:28Okay, first, as an affiliate, you own nothing.
- 1:28:32So what you have to do to always protect yourself
- 1:28:34is collect the lead.
- 1:28:36If you don't collect the lead, you're subject
- 1:28:38to the volatility of affiliate marketing,
- 1:28:42which is waking up one day to a company saying,
- 1:28:44hey, by the way, we're not doing this program anymore.
- 1:28:47Oh, your commission, we're gonna cut it in half.
- 1:28:48This happens to me a lot.
- 1:28:50It sucks.
- 1:28:51And what can I do about it?
- 1:28:52Pretty much nothing.
- 1:28:53It's a legal recourse.
- 1:28:55It depends, I mean, you could go after them,
- 1:28:57but most contract terms of service, I am an affiliate.
- 1:29:01I don't own the company.
- 1:29:02It's not my company, I'm just an affiliate.
- 1:29:05It's like I'm in sales.
- 1:29:06So always protect yourself and collect the lead.
- 1:29:09Okay, two, well, works right now for me,
- 1:29:11is creating short form like video ads
- 1:29:16that have some type of verbal call to action.
- 1:29:19Where you're prompting the user to comment a keyword,
- 1:29:24a trigger word.
- 1:29:24So comment the word rich, comment the word more,
- 1:29:26comment the word yes, comment the word whatever.
- 1:29:28And then that is set up to an automation
- 1:29:31that automatically responds to their DM messages.
- 1:29:33You can do this on TikTok and Instagram and Facebook.
- 1:29:37And then that type of lead is really,
- 1:29:39is more engaging because they'll see the video,
- 1:29:41they'll say yes.
- 1:29:42And then they automatically get prompted
- 1:29:44and then they put in their information.
- 1:29:46And then they capture the lead
- 1:29:47and then they go to the affiliate offer works way better
- 1:29:50than just going click link.
- 1:29:51Go by.
- 1:29:52Why does it work best?
- 1:29:53So that's across Facebook or TikTok or Instagram.
- 1:29:56That's how you structure all of your campaigns.
- 1:29:58Is there anything specific that you,
- 1:30:00that works well on Facebook versus TikTok
- 1:30:03because they're different kinds of platforms?
- 1:30:05They are different.
- 1:30:06I think this is the,
- 1:30:08this is, I think TikTok has made content.
- 1:30:11There's like, we've all been indoctrinated
- 1:30:13because of TikTok, what makes good content.
- 1:30:16And I feel like on, I actually use the same exact ads
- 1:30:20on both, but I would say TikTok is the level.
- 1:30:23I'm gonna say TikTok content is the highest level
- 1:30:25of engaging content because they force you to create a hook
- 1:30:30and that hook those first three seconds
- 1:30:32that real people in, like now every,
- 1:30:35every single platform that,
- 1:30:37like that's how you create a good start
- 1:30:39with a good piece of content is like the hook.
- 1:30:41So I feel like before TikTok,
- 1:30:42there wasn't really like hooks weren't as emphasized.
- 1:30:45Even in YouTube videos, like you have to first be very clear
- 1:30:48on your language at the beginning and the intro.
- 1:30:50So people commit to watching 30, 40 minutes
- 1:30:52or have a longer video.
- 1:30:53And so that hook concept is really prevalent.
- 1:30:56And I spend most of my time in those first three seconds
- 1:30:58thinking about it or researching or iterating on it
- 1:31:01versus the rest of the X.
- 1:31:02If I can nail down the hook,
- 1:31:04it's gonna work pretty much anywhere.
- 1:31:05And then that also, I mean,
- 1:31:07if you nail down the hook and it's good on TikTok,
- 1:31:10then you see that carry over into like a good ad
- 1:31:13on Facebook.
- 1:31:14I usually do an Instagram Reels too.
- 1:31:15I just wanna think about like some last sort of words
- 1:31:17of wisdom that, or some questions that I haven't asked you
- 1:31:20that I should have, that I wouldn't have known to ask you
- 1:31:23that you'd like to leave the audience with.
- 1:31:25How we created this book was like a really modern approach.
- 1:31:30We didn't just sit in a room or go somewhere
- 1:31:33and destination and think all the ideas are ahead.
- 1:31:36My co-author and I, Dr. Brite Clence,
- 1:31:37we use our social media to create each chapter.
- 1:31:40And so we tested every single chapter
- 1:31:43to like kind of base virality and engagement.
- 1:31:46And I think this is what TikTok allowed us,
- 1:31:49because this is a book on money and financial freedom,
- 1:31:52which is a dull category, it's a dull audience.
- 1:31:55Like, save and invest for your future.
- 1:31:58Yeah, like it's very simple.
- 1:31:59But because we tested the chapters,
- 1:32:02we iterated, for example, like on a concept like,
- 1:32:06you're the average of the five people
- 1:32:07you've heard your user outside by, right?
- 1:32:09Everyone agrees this.
- 1:32:10Our chapter title for that same as that concept is,
- 1:32:13if you wanna get rich,
- 1:32:14you have to get rid of your poor friends.
- 1:32:16And when we posted that, it created controversy.
- 1:32:18And people were like, what assholes?
- 1:32:21But really, when you dive into the details,
- 1:32:23we're talking about the exact same thing.
- 1:32:25And again, we also define poor as a way of thinking
- 1:32:27and rich as a way of thinking actually
- 1:32:28is nothing to do with money.
- 1:32:31But yeah, so it was a fascinating concept
- 1:32:34to create this book.
- 1:32:35And each of the chapters read like hooks.
- 1:32:38So it's like, only poor people think the system is rich.
- 1:32:40What would like the main thing that you'd want people
- 1:32:43to take away from this book,
- 1:32:44if they could just pick it up, you'd have one lesson.
- 1:32:47What would that be?
- 1:32:47It's for sure optimizing for time
- 1:32:51and stop trading time for dollars.
- 1:32:53And that, to be clear, I'm not talking about
- 1:32:58passive income making money online opportunities.
- 1:33:00I'm talking about your actions and your purchase behaviors,
- 1:33:03where you're actually trading time for dollars
- 1:33:06on an unconscious level.
- 1:33:08Like, one of my favorite now is that like,
- 1:33:10people would rather drive a nicer car to go to work
- 1:33:14than to go to work.
- 1:33:15So you reject, I think a lot of like most traditional
- 1:33:19wealth status symbols.
- 1:33:22Have you thought of, have you thought of like,
- 1:33:24what are some alternative markers of status or success?
- 1:33:30Like you've incorporated into your life
- 1:33:31that you think other people should at least look at
- 1:33:34as status symbols?
- 1:33:35I feel like it's, this is where wealth is quiet.
- 1:33:38It's hard to see, but I think based off like language
- 1:33:41and pattern lifestyle, you, that's how I learn it.
- 1:33:44If someone owns their time or not,
- 1:33:45like for example, I play lots of pickable,
- 1:33:47do you play pickable, by the way?
- 1:33:48So I've started.
- 1:33:49I used to play a lot of tennis.
- 1:33:51So now I'm getting into, now I'm getting into it
- 1:33:53because tennis isn't cool anymore.
- 1:33:54Now it's pickable.
- 1:33:56So yes, that's awesome.
- 1:33:57So like actually, to me, it's a great indicator of like,
- 1:33:59which of my pickable friends can I just say,
- 1:34:02hey, you free like, free tomorrow, it's Tuesday
- 1:34:04and can you come over like nine or three or whenever?
- 1:34:08And which of the friends like, oh no, I have to go after,
- 1:34:10like I can only play after five.
- 1:34:12So to me, like that's an indication.
- 1:34:14Again, it has nothing to do with like,
- 1:34:15I didn't mention their houses or cars they drive.
- 1:34:17It's like, that's someone that owns their time.
- 1:34:20To me, that is a marker of success.
- 1:34:23Okay, so one last, first of all,
- 1:34:25I want people to know where to connect with you.
- 1:34:28Obviously the book will be, I mean,
- 1:34:30start thinking which is gonna be wherever you get your book.
- 1:34:32So I'm assuming Amazon, Barnes and Noble everywhere.
- 1:34:37Is there a website that you wanna send people to
- 1:34:40or socials as well?
- 1:34:41Well, okay, website, this is for sure.
- 1:34:43I wanna say thanks.
- 1:34:44I actually flew out to Miami to do your podcast.
- 1:34:46I'm super pumped.
- 1:34:47So to reward your listeners in a way, say thank you.
- 1:34:50If you go to startthinkingrich.com slash Scott,
- 1:34:53that's gonna be a place that's different than,
- 1:34:55I mean, you can't get the book anymore,
- 1:34:57but it's gonna have extra bonuses and resources
- 1:34:59that are learning about your audience
- 1:35:01and trying to do research before that we catered
- 1:35:03actually just for your audience.
- 1:35:04You do, I appreciate that.
- 1:35:05Of course.
- 1:35:06Yeah, and that's the thanks for having me out here.
- 1:35:07No, I appreciate you.
- 1:35:08Okay, so, and then what's,
- 1:35:09where do you want people to follow you?
- 1:35:10I mean, you're everywhere, but what are the handles?
- 1:35:13Brambilla Bong, because I created when I was 13.
- 1:35:18But if you look up Adrian Brambilla on Google,
- 1:35:21you could find me, even my Brambilla Bong and Tram account.
- 1:35:24If you were, if you were gonna look back
- 1:35:26and then tell your 20 year old self one thing,
- 1:35:29what would that lesson be?
- 1:35:30You had a great career, many different seasons to your life.
- 1:35:34So what would that lesson be?
- 1:35:35I actually feel, if I was with my 20 year old self,
- 1:35:39I was super conservative, I still am.
- 1:35:42I think I should have dreamed bigger,
- 1:35:45like when I was 20, I so I mentioned that 75,000
- 1:35:48or a year study, like I have it in a draw entry,
- 1:35:51it's actually printed in the book.
- 1:35:52Like, I was so ingrained with it,
- 1:35:54and I thought, I only thought in terms of 75,000 or there,
- 1:35:58I didn't think in terms of 7.5 million dollars a year,
- 1:36:00what I could do.
- 1:36:01So I think, I wish I could have dreamed,
- 1:36:03I would encourage myself to dream bigger.