Latest / You Minding Your Own Business / Episode 64- My Pre-Conversation with Bobby Casey About What It Takes to Become and Maintain a Successful Business

Transcript

Episode 64- My Pre-Conversation with Bobby Casey About What It Takes to Become and Maintain a Successful Business · You Minding Your Own Business

• 0:01
  Speaker 1: All right, mister Bobby, tell me about you your journey
• 0:06
  Speaker 1: and how did you get to where you became this
• 0:10
  Speaker 1: entrepreneur and what was that process like?
• 0:15
  Speaker 2: Sure, Well, first of all, I've never not been an entrepreneur.
• 0:21
  Speaker 2: I've I've actually never had a real job. So I'm
• 0:27
  Speaker 2: I was raised in an entrepreneurial family. My grandpa before
• 0:35
  Speaker 2: I was born. He actually retired before I was born,
• 0:38
  Speaker 2: but my grandpa had had like a chain of restaurants,
• 0:44
  Speaker 2: and then my dad had a construction company when I
• 0:48
  Speaker 2: was a kid, construction and then also development, real estate development.
• 0:51
  Speaker 2: And I just never had any mindset of going to
• 0:58
  Speaker 2: like get a job, like I mean, I had jobs
• 1:01
  Speaker 2: like as a kid. I mean I started working when
• 1:03
  Speaker 2: I was twelve, and I had I think my first
• 1:09
  Speaker 2: like legal job I was fourteen, bagging groceries at the
• 1:14
  Speaker 2: food Line grocery store. That was my first job where
• 1:18
  Speaker 2: I was actually legally on payrolls somewhere. But I mean
• 1:22
  Speaker 2: I had kid jobs, you know. I worked at the
• 1:24
  Speaker 2: grocery store. I worked at the go kart track, I
• 1:28
  Speaker 2: unloaded trucks for ups, worked at the golf course, like maintenance,
• 1:36
  Speaker 2: mow and grass stuff like that. Like I had, you
• 1:39
  Speaker 2: know what I call kid jobs, but I never had
• 1:42
  Speaker 2: a real job. So like when I was I was
• 1:46
  Speaker 2: always like hustling, trying to make money. I was raised
• 1:50
  Speaker 2: in a family that had money, but I also had
• 1:53
  Speaker 2: one of those dads that was like I'm the one
• 1:56
  Speaker 2: with money, not you. You know, like, yeah, so you
• 2:01
  Speaker 2: want money, you got to go earn it, like you
• 2:03
  Speaker 2: don't get anything here, which as a teenager is kind
• 2:08
  Speaker 2: of frustrating, but you know, looking back, like that's definitely
• 2:11
  Speaker 2: the way to go because if you just give your
• 2:15
  Speaker 2: kids a bunch of money and basically anything they want,
• 2:17
  Speaker 2: they've become spoiled little brats and they don't they don't
• 2:22
  Speaker 2: really develop any kind of work ethic. I really strong
• 2:24
  Speaker 2: work ethic as a kid, like I was always hustling
• 2:28
  Speaker 2: doing stuff. But I started my first let's call it
• 2:30
  Speaker 2: real business when I was nineteen that kind of collapsed,
• 2:33
  Speaker 2: not kind of it collapsed. I started another business when
• 2:36
  Speaker 2: I was twenty that didn't do well, and then I
• 2:39
  Speaker 2: started a company when I was twenty one that did
• 2:41
  Speaker 2: pretty well. So I just kept pushing, just kept starting
• 2:46
  Speaker 2: something until it worked, and that's kind of my whole process.
• 2:51
  Speaker 2: I started that company I was twenty one that did
• 2:53
  Speaker 2: pretty well. But during that time I ended up buying
• 2:59
  Speaker 2: out a couple of my competitors, rolling them up into
• 3:02
  Speaker 2: a bigger business. I also bought a couple of other
• 3:06
  Speaker 2: or I bought a business. I bought a restaurant during
• 3:09
  Speaker 2: that time, which I would never ever do again. But
• 3:16
  Speaker 2: I did end up making money on the restaurant, which
• 3:18
  Speaker 2: was actually kind of unusual. I bought it, made money,
• 3:21
  Speaker 2: ran it for about a year, sold a year later,
• 3:24
  Speaker 2: and sold it for double what I paid for it.
• 3:26
  Speaker 2: So I actually did did okay on the restaurant. Had
• 3:31
  Speaker 2: had a real estate business for a while, a bunch
• 3:34
  Speaker 2: of like rental properties and land and office buildings and
• 3:39
  Speaker 2: stuff like that. Yeah, I just kept hustling, kept hustling,
• 3:46
  Speaker 2: doing more stuff, ended up selling well. I sold the
• 3:50
  Speaker 2: restaurant after a year. I got out of the real
• 3:53
  Speaker 2: estate when I saw I got out of all my
• 3:56
  Speaker 2: real estate around two between two thousand and six and eight,
• 4:02
  Speaker 2: because I saw things seemed kind of peaking in values
• 4:09
  Speaker 2: to me, that's what it felt like. Turned out I
• 4:11
  Speaker 2: was right by the way, obviously, because two thousand and
• 4:13
  Speaker 2: eight was kind of the crash of the real estate market.
• 4:18
  Speaker 2: I would love to say I was omniscient, but I
• 4:22
  Speaker 2: think I was just lucky. So yeah, got out of
• 4:25
  Speaker 2: the real estate, sold, sold my company in two thousand
• 4:30
  Speaker 2: I think it was eight, my other company two thousand
• 4:33
  Speaker 2: and eight, and started another company. So yeah, I've always
• 4:37
  Speaker 2: been entrepreneurial. So like for me, it's hard to relate
• 4:44
  Speaker 2: to somebody who had like a high paying corporate job,
• 4:48
  Speaker 2: you know, Like I've got friends that have done this
• 4:50
  Speaker 2: who making Like I've got a friend right now, like
• 4:54
  Speaker 2: a really good friend right now who made about half
• 4:56
  Speaker 2: a million dollars a year in his corporate job, and
• 5:02
  Speaker 2: he wants to quit to start a business. I'm fully
• 5:05
  Speaker 2: supporting that, but still the mindset of giving up a
• 5:09
  Speaker 2: half a million dollars a year corporate job to start
• 5:13
  Speaker 2: a company, You've got to really hate that corporate world
• 5:18
  Speaker 2: to want to give up. I mean, it's a lot
• 5:20
  Speaker 2: of money, right yeah, but he does. He hates it,
• 5:25
  Speaker 2: and it's not giving him the lifestyle he wants. It's frustrating.
• 5:28
  Speaker 2: He's he hates every day at work, and it's a
• 5:32
  Speaker 2: tough situation. Like, you know, we only have so much
• 5:36
  Speaker 2: time on this this merry go round, right, So how
• 5:40
  Speaker 2: much time do you want to spend hating your life
• 5:43
  Speaker 2: and how much money is what's the price of your pain?
• 5:48
  Speaker 2: I guess. And so in his case, what's the price
• 5:51
  Speaker 2: of his pain? Is it is five hundred thousand the
• 5:54
  Speaker 2: price of his pain. Is he going to stay in
• 5:56
  Speaker 2: the job because it's a high salary or is he
• 6:01
  Speaker 2: willing to and he will one hundred percent if he
• 6:04
  Speaker 2: starts a company one, he's going to take a big
• 6:06
  Speaker 2: pay cut at least for a while. Nobody jumps out
• 6:09
  Speaker 2: of a gate in their own business making five hundred
• 6:11
  Speaker 2: k year, like, yeah, nobody, nobody of nobody does that.
• 6:17
  Speaker 2: I mean, I don't care how much of a you know,
• 6:21
  Speaker 2: tech genius, wonder kid you are. You don't jump out
• 6:24
  Speaker 2: of the gate making five hundred k year. So what's
• 6:28
  Speaker 2: the price of that? You know? And I think he's
• 6:32
  Speaker 2: going to do it. I think this year he's going
• 6:34
  Speaker 2: to make the move. But still it's got to be
• 6:37
  Speaker 2: a tough decision for him or other people like him
• 6:41
  Speaker 2: to say I'm going to give this up and take
• 6:44
  Speaker 2: this huge risk. I mean, I think being in the
• 6:46
  Speaker 2: corporate world's a huge risk too.
• 6:49
  Speaker 3: It is.
• 6:50
  Speaker 2: I just don't think people A lot of people view
• 6:53
  Speaker 2: it as a risk because you know, that paycheck comes in,
• 6:58
  Speaker 2: you know, every month with the same you know, same
• 7:02
  Speaker 2: amount of money in it, and they don't see it
• 7:04
  Speaker 2: as hegarus. But I mean, I guess the they don't understand.
• 7:08
  Speaker 2: I mean maybe intellectually the understand, but emotionally you get
• 7:14
  Speaker 2: connected to that job and it's hard to comprehend that
• 7:17
  Speaker 2: it can go away in one week, right, and but
• 7:23
  Speaker 2: it can, like it can go it can go to
• 7:25
  Speaker 2: zero overnight, especially like we're in this AI world now
• 7:31
  Speaker 2: where companies are laying off thousands of employees and replacing them,
• 7:36
  Speaker 2: you know, with ten AI agents. So you gotta gotta
• 7:42
  Speaker 2: be on top of your game, I guess. But that's
• 7:45
  Speaker 2: a tough that's a tough decision to make to pull
• 7:48
  Speaker 2: the trigger on half a million in income and take
• 7:51
  Speaker 2: the leap to entrepreneurship. So you know, it takes takes
• 7:55
  Speaker 2: guts to do that. So for anyone anyone doing that,
• 7:59
  Speaker 2: you're your job must really suck for you to want
• 8:03
  Speaker 2: to take that leap, and you most have a lot
• 8:07
  Speaker 2: of guts to be willing to do it.
• 8:10
  Speaker 1: So because here's the thing, A lot of people and
• 8:13
  Speaker 1: like I said, you know, the money is good, but
• 8:18
  Speaker 1: it's everything that come with it. It's like a lot
• 8:21
  Speaker 1: of people are working two or three different jobs and
• 8:25
  Speaker 1: they're only getting paid for one. Like twenty seventeen. I've
• 8:32
  Speaker 1: been working staffing companies since twenty seventeen, and those are
• 8:38
  Speaker 1: the only jobs that have reached out to me. And
• 8:39
  Speaker 1: there have been people that have been from overseas and
• 8:43
  Speaker 1: they're calling you about different jobs.
• 8:44
  Speaker 3: In America, a lot of the jobs.
• 8:46
  Speaker 1: Are outsourced to overseas. When I first started doing medical billing,
• 8:54
  Speaker 1: he did that he outsourced because he was from India,
• 8:57
  Speaker 1: so he was outsourcing a lot of the jobs for India.
• 9:01
  Speaker 1: And I remember when in like in the early nineteen nineties,
• 9:06
  Speaker 1: when we had salary jobs and you know, there were
• 9:11
  Speaker 1: hourly people and salary were saying, well, people that work
• 9:14
  Speaker 1: salary were like, we don't get overtime. But I was like,
• 9:19
  Speaker 1: but you get paid. If you go on vacation, you
• 9:22
  Speaker 1: still get paid. Your salary doesn't change. You're still going
• 9:26
  Speaker 1: to get paid no matter what. And when they did
• 9:29
  Speaker 1: that vote to go hourly, I think that was the
• 9:33
  Speaker 1: biggest mistake a lot of people made because I don't
• 9:36
  Speaker 1: think a lot of people understood that, yeah, you get
• 9:40
  Speaker 1: paid overtime, but if you have to go to the
• 9:43
  Speaker 1: hospital or you want to go on vacation. You don't
• 9:48
  Speaker 1: get paid staffing companies, you don't get paid for holidays,
• 9:51
  Speaker 1: you don't get PTO, you don't get medical insurance, you
• 9:55
  Speaker 1: don't get any of that. And a lot of jobs
• 9:58
  Speaker 1: are going in that direction now. And you know, as
• 10:03
  Speaker 1: far as your friend getting paid half a million, I
• 10:05
  Speaker 1: think it's more so everything else, the treatment, the non appreciation,
• 10:11
  Speaker 1: I think, and then the fact that you work eight
• 10:15
  Speaker 1: hours a day, twelve hours a day, some people work
• 10:17
  Speaker 1: less than that.
• 10:18
  Speaker 3: But the freedom to be.
• 10:19
  Speaker 1: Able to go on vacation, to be able to have
• 10:24
  Speaker 1: that freedom, I think that's where that part of it is.
• 10:30
  Speaker 3: I think more so.
• 10:32
  Speaker 2: Well in his example, I mean, he's a pretty he's
• 10:35
  Speaker 2: a high level executive. Obviously, he's making five hundred k year.
• 10:38
  Speaker 2: He's not a low level person in the company. He
• 10:43
  Speaker 2: has quite a bit of freedom, but he also has
• 10:46
  Speaker 2: an extremely high level of demand on him. And I
• 10:52
  Speaker 2: could tell you from his experience, or I could tell
• 10:55
  Speaker 2: you what he's told me from his experience. The issue
• 11:01
  Speaker 2: is the bureaucracy. When he's trying to accomplish something in
• 11:05
  Speaker 2: his job and it takes seventeen layers of approval, you know,
• 11:13
  Speaker 2: before things happen, and like he's traveling to Japan every
• 11:19
  Speaker 2: other week for sales meetings or implementation meetings, and in
• 11:25
  Speaker 2: a big company, he's just got to keep doing it
• 11:27
  Speaker 2: and doing it and doing it and doing it because
• 11:30
  Speaker 2: like nobody's yet approved the budget for the project or
• 11:34
  Speaker 2: something like that, and he just gets extremely frustrated when
• 11:40
  Speaker 2: things like that happen. I know recently he had a
• 11:43
  Speaker 2: project in Germany. He was going to Germany like three
• 11:47
  Speaker 2: or four days a week, every other week. And he
• 11:50
  Speaker 2: lives in the U. He does live in the US.
• 11:52
  Speaker 2: Mainly he lives in the US. He lives part time
• 11:54
  Speaker 2: in Mexico too, but mainly he lives in the US
• 11:57
  Speaker 2: on the West coast. So it's a big time zone
• 11:58
  Speaker 2: jump he's got to make every other week and he's
• 12:02
  Speaker 2: doing it twice. They're the big like what nine hour
• 12:06
  Speaker 2: times on jump spend a few days nine hour times
• 12:09
  Speaker 2: on jump back. Like it's it's stressful on the body,
• 12:13
  Speaker 2: it's tedious, and you know, he has freedom, some freedom
• 12:21
  Speaker 2: in his work, but not completely because if his job says, hey,
• 12:26
  Speaker 2: we want you in Japan for two weeks, well, he's
• 12:29
  Speaker 2: got to be on site. And when he's on site working,
• 12:32
  Speaker 2: like when he goes to Japan, he's basically sleeping and working.
• 12:36
  Speaker 2: I mean he's working sixteen hours a day because he's
• 12:39
  Speaker 2: there on site doing the project. But with that said,
• 12:47
  Speaker 2: I'm not gonna sugarcoat things either for people that are
• 12:51
  Speaker 2: thinking about quitting their job and starting a business, because
• 12:56
  Speaker 2: it's like you can go like you're talking about, like
• 13:01
  Speaker 2: not getting overtime or not getting you know, vacation time.
• 13:07
  Speaker 2: As an entrepreneur, you can also go three years without
• 13:09
  Speaker 2: any income building your company. You can you can work
• 13:13
  Speaker 2: for three years without having a single paycheck at all
• 13:17
  Speaker 2: because you get to the end of the month and
• 13:18
  Speaker 2: you've got to pay the bills and payroll and everyone
• 13:21
  Speaker 2: else gets paid before you, the owner everyone. And that's
• 13:25
  Speaker 2: that's the flip side of it. People see this glorious
• 13:29
  Speaker 2: lifestyle like, oh, it's so great, You're so lucky to
• 13:32
  Speaker 2: have your own business and to be able to travel
• 13:35
  Speaker 2: and do all these things. Well, it didn't come without
• 13:39
  Speaker 2: a price, Like, it didn't come like, first of all,
• 13:43
  Speaker 2: a financial price, because you typically, like in every business
• 13:47
  Speaker 2: I've ever started, I'm the lowest paid person or the
• 13:51
  Speaker 2: not paid person until we hit like certain milestones in
• 13:56
  Speaker 2: the business. Every company I've ever had, like, I've not
• 14:01
  Speaker 2: been paid at all at one point or another during
• 14:05
  Speaker 2: every company I've ever had, I've gone periods of time
• 14:08
  Speaker 2: in every company without a paycheck, without a doubt, Like
• 14:12
  Speaker 2: in two thousand seven, I guess one of my companies,
• 14:21
  Speaker 2: we you know, we had a couple of bad years
• 14:23
  Speaker 2: and I've stopped taking a paycheck for a year. I
• 14:25
  Speaker 2: had zero income for twelve months, but I still went
• 14:30
  Speaker 2: to the office. I was still working six days a week,
• 14:33
  Speaker 2: twelve hours a day. So you know, I'm working seventy
• 14:36
  Speaker 2: hours a week for a year with zero paycheck. So
• 14:40
  Speaker 2: it's not like it's always all fun and games and
• 14:43
  Speaker 2: people think it's a glorious lifestyle. I mean sometimes it's
• 14:49
  Speaker 2: way harder than having a job.
• 14:52
  Speaker 3: Yeah, it is. It's something I'm learning now.
• 14:57
  Speaker 1: And you know, I always wonder what ma people decide
• 15:01
  Speaker 1: to sell their companies because I've seen that quite often,
• 15:04
  Speaker 1: and I've watched like Shark Tank and you know, those
• 15:08
  Speaker 1: type of things when it comes to investors.
• 15:11
  Speaker 3: Yeah, and then years later the company is done.
• 15:18
  Speaker 1: You know, I'm seeing a lot of bankruptcy light with bed, bath,
• 15:23
  Speaker 1: and beyond. A lot of companies that have been in
• 15:26
  Speaker 1: business for decades and they're shutting down. And now with
• 15:31
  Speaker 1: social media and people online shopping and things like that,
• 15:35
  Speaker 1: a lot of the physical stores, people are not going
• 15:38
  Speaker 1: into the physical stores like they used to.
• 15:42
  Speaker 2: And oh yeah, for sure. I mean, I don't know
• 15:45
  Speaker 2: the last time I bought something. I mean, other than
• 15:47
  Speaker 2: grocery shopping. Actually, I almost never go to the grocery either.
• 15:51
  Speaker 2: I do online online shopping. But to your point about
• 15:57
  Speaker 2: selling the companies, why do people sell the companies, Let's
• 16:02
  Speaker 2: frame it a different way. People buy a company or
• 16:07
  Speaker 2: invest in a company for one reason. There's only one
• 16:10
  Speaker 2: to make money. That's the thing. People sell companies for
• 16:18
  Speaker 2: a thousand different reasons. Though one could be burned out.
• 16:23
  Speaker 2: They could be I don't like the industry anymore. They
• 16:27
  Speaker 2: feel like the industry is going bad. They want to
• 16:29
  Speaker 2: get out while they can. Maybe they want to make money,
• 16:32
  Speaker 2: Maybe they want to retire. Maybe they're, you know, been
• 16:36
  Speaker 2: running the company for forty years and they don't have
• 16:38
  Speaker 2: any kids that want to take over the business, and
• 16:41
  Speaker 2: they just want to sell it. Maybe there's another opportunity
• 16:46
  Speaker 2: that they want to go after much better maybe they
• 16:48
  Speaker 2: want to take two years off to go on a
• 16:50
  Speaker 2: world cruise and travel around the world. Maybe they've got
• 16:54
  Speaker 2: enough money and they don't have the motivation to go
• 16:56
  Speaker 2: into work every day, and they got a decent amount
• 16:58
  Speaker 2: of money to live on. There's so many different reasons
• 17:01
  Speaker 2: people sell companies. It's like I used to always think
• 17:06
  Speaker 2: about it like this, Like if I'm going to go
• 17:08
  Speaker 2: buy something like I don't know, let's say I want
• 17:10
  Speaker 2: to buy a used car or something, I always want
• 17:13
  Speaker 2: to know why that person wants to sell that car, Okay,
• 17:18
  Speaker 2: because maybe there's something wrong with the car. There's like
• 17:23
  Speaker 2: seventeen maintenance issues about the pop up, you know, maybe
• 17:27
  Speaker 2: it needs like a million things to fix on the car,
• 17:30
  Speaker 2: and they're trying to sell it before all these maintenance
• 17:33
  Speaker 2: issues hit, or the tires are bad and you know,
• 17:35
  Speaker 2: you got to spend a thousand bucks on tires, whatever reason.
• 17:38
  Speaker 2: I want to know the reason that somebody wants to
• 17:40
  Speaker 2: sell that car before I buy it, to make sure
• 17:44
  Speaker 2: I'm not getting into a big mess. But that's a
• 17:47
  Speaker 2: very simplistic transaction to buy a car. Sure, I want
• 17:53
  Speaker 2: to know why they want to sell it because I
• 17:54
  Speaker 2: want to make sure there's not a problem with it.
• 17:56
  Speaker 2: If I'm going to buy a business, I'd like to
• 17:59
  Speaker 2: know that they want to why they want to sell it,
• 18:03
  Speaker 2: because also I don't want to step into a bunch
• 18:05
  Speaker 2: of problems. But somebody selling a car, they're selling a
• 18:12
  Speaker 2: car for not that many reasons. Right, they want to
• 18:14
  Speaker 2: get a new car, maybe the car does have problems,
• 18:17
  Speaker 2: maybe they need money. But there's a kind of a
• 18:19
  Speaker 2: limited scope of reasons somebody sells a car. Somebody sells
• 18:22
  Speaker 2: a business for basically an unlimited number of reasons. There's
• 18:26
  Speaker 2: really no way to truly know why somebody sells a business.
• 18:31
  Speaker 2: Like you can do all the due diligence you want,
• 18:34
  Speaker 2: but you're never really going to get this. In most cases,
• 18:39
  Speaker 2: you're not going to get the all of the reasons
• 18:42
  Speaker 2: somebody's selling a business. So you've got to do very
• 18:46
  Speaker 2: thorough due diligence and make sure you're buying it for
• 18:49
  Speaker 2: the right reasons. Obviously, you buy a business to make money,
• 18:53
  Speaker 2: but do you have the skill set to run that business?
• 18:56
  Speaker 2: Do you have the finances to run that business? Do
• 18:59
  Speaker 2: you have the cashload or run that business? Do you
• 19:01
  Speaker 2: have a credit line, do you have investors, do you
• 19:03
  Speaker 2: have the right team of people. What happens if you're
• 19:05
  Speaker 2: general manager of that need of that business you buy quits?
• 19:08
  Speaker 2: Can you run it? Do you have that skill set?
• 19:11
  Speaker 2: Do you have a marketing manager you can put into place?
• 19:13
  Speaker 2: Do you have an operations manager you can put into place?
• 19:18
  Speaker 2: Is there a CFO or a controller in place? Like
• 19:21
  Speaker 2: do you have the ability to step in and take
• 19:24
  Speaker 2: it over if you buy that business? So? But yeah,
• 19:28
  Speaker 2: like bed Bath and Beyond, that's certainly not buying an
• 19:31
  Speaker 2: entrepreneurial venture. I mean it's a big company. Like people
• 19:35
  Speaker 2: buy businesses like that usually, like in retail, people buy
• 19:40
  Speaker 2: those big collapsing businesses like that mostly for their real estate.
• 19:44
  Speaker 2: They're not they're they're going in and buying something like
• 19:47
  Speaker 2: like Kmart, remember or Seers. You know you had companies
• 19:50
  Speaker 2: going in and buying Kmart and Seers and Toys r
• 19:53
  Speaker 2: Us and bed Bath and Beyond, all those collapsing retailers.
• 19:57
  Speaker 2: The only reason they buy those is, I mean they're
• 20:00
  Speaker 2: making money. They made a deal with and they analyze
• 20:03
  Speaker 2: the assets of the business and they've got some real
• 20:05
  Speaker 2: estate assets they can liquidate, or they've got some long
• 20:10
  Speaker 2: term leases that they can take advantage of with other
• 20:14
  Speaker 2: businesses and stuff like that. But yeah, the market's changing.
• 20:20
  Speaker 2: AI is changing things rapidly. People are scared to death
• 20:25
  Speaker 2: of AI, thinking half of humanity is going to be
• 20:28
  Speaker 2: out of a job. I'm not so pessimistic to it,
• 20:31
  Speaker 2: but I will say in if you're a working person
• 20:37
  Speaker 2: right now and you're listening to this and you're not
• 20:40
  Speaker 2: using AI tools and you're not learning about using AI tools,
• 20:44
  Speaker 2: you probably will be starving in a couple of years.
• 20:49
  Speaker 2: You probably, i'd say three years maximum, if you're not
• 20:53
  Speaker 2: taking advantage and learning how to use AI tools in
• 20:56
  Speaker 2: your day to day work. Yeah, you're probably going to
• 20:59
  Speaker 2: be hungry in a couple of years. You'll probably be
• 21:02
  Speaker 2: on welfare.
• 21:03
  Speaker 1: Yeah, because they're a big diston it between the baby
• 21:06
  Speaker 1: boomers and the millennials and you know the gen Z
• 21:12
  Speaker 1: because you know they talk about how gen Z doesn't
• 21:16
  Speaker 1: really want to work or they come in any type
• 21:19
  Speaker 1: of way. But I say that goes back to the
• 21:25
  Speaker 1: fact of the matter that we were raised to work
• 21:28
  Speaker 1: hard and be dedicated. We were raised that, Okay, you
• 21:33
  Speaker 1: go into a job, you work, you go in presentable.
• 21:37
  Speaker 3: We had trainings. These kids don't have that.
• 21:40
  Speaker 1: They don't have the trainings and the No Child Left
• 21:44
  Speaker 1: Behind and social media.
• 21:47
  Speaker 3: And I tell people.
• 21:48
  Speaker 1: All the time, I see a lot of people on
• 21:50
  Speaker 1: social media, and I said, you don't market yourself. You're
• 21:55
  Speaker 1: doing lives, but you're not posting them on YouTube, You're
• 21:59
  Speaker 1: not posting them on Instagram. You have no products, no
• 22:03
  Speaker 1: T shirts, nothing of your own. And don't get me wrong,
• 22:06
  Speaker 1: there's nothing wrong with having people that want you to
• 22:11
  Speaker 1: promote their brand. But you eventually got to have something
• 22:15
  Speaker 1: that is of your own.
• 22:17
  Speaker 3: It's July.
• 22:18
  Speaker 1: Authors and people that do courses and teaching.
• 22:22
  Speaker 3: Those things will live past you. They will make your
• 22:27
  Speaker 3: kids money.
• 22:28
  Speaker 1: I mean, if you look at what happened with the
• 22:30
  Speaker 1: woman that wrote Harry Potter, she was almost homeless with
• 22:33
  Speaker 1: three kids. Now she's over a billionaire over a book
• 22:38
  Speaker 1: that is now a movie.
• 22:39
  Speaker 3: You would have never thought a book would make you
• 22:43
  Speaker 3: a billion dollars, and now.
• 22:47
  Speaker 1: You see these movies on all over the world. Doom
• 22:51
  Speaker 1: is another one that was off a book. So you know,
• 22:55
  Speaker 1: I tell people, you know, you can get on social
• 22:58
  Speaker 1: media and talk all day, but guess what, you still
• 23:00
  Speaker 1: work in your regular.
• 23:00
  Speaker 3: Nine to five job.
• 23:01
  Speaker 1: And I hear people say, well, I just want something
• 23:05
  Speaker 1: that I can just speak.
• 23:06
  Speaker 3: Yeah, you could speak all day. But if you're saying
• 23:10
  Speaker 3: that now one income is not going.
• 23:12
  Speaker 1: To do it, it's not it used to be when
• 23:16
  Speaker 1: one income was enough. You have to be working two
• 23:18
  Speaker 1: or three jobs right now and are burned out. You
• 23:22
  Speaker 1: have people that don't have insurance, that can't even go
• 23:25
  Speaker 1: to the doctor right now.
• 23:27
  Speaker 3: So you know, that's why I say, when it.
• 23:29
  Speaker 1: Comes to success and the healing recovery of you know,
• 23:33
  Speaker 1: failure as I would like to call it, there is
• 23:36
  Speaker 1: a you know, mental overdrive because your weekend goes by
• 23:41
  Speaker 1: so fast. Then you got to go home, take care
• 23:44
  Speaker 1: of kids. You got to go home and take care
• 23:45
  Speaker 1: of a husband or wife.
• 23:47
  Speaker 3: You know, you don't have enough money to just be.
• 23:51
  Speaker 1: And then if you say, okay, I'm a business owner
• 23:54
  Speaker 1: like you said, you know, you may not be paying
• 23:57
  Speaker 1: yourself at first. Some people are doing their business by
• 23:59
  Speaker 1: themselves and they're doing everything themselves, and they may have
• 24:03
  Speaker 1: family and friends that help. But like I said, I
• 24:06
  Speaker 1: learned a lot from Shark Tank about investors, and I
• 24:10
  Speaker 1: learned a lot.
• 24:11
  Speaker 3: About that side of it.
• 24:12
  Speaker 1: So yeah, having investors, having people that's going to get
• 24:16
  Speaker 1: you into those doors. And I was looking at like Rihanna.
• 24:20
  Speaker 1: For example, Rihanna owns Savage Fincy, but she's only worth
• 24:25
  Speaker 1: one point something billion. And then I'm looking at Eon
• 24:28
  Speaker 1: Musk and he's worth one hundred and something billion. But
• 24:31
  Speaker 1: then I thought about it, Eon Musk, it is not
• 24:35
  Speaker 1: under another company.
• 24:36
  Speaker 3: His company is of his own.
• 24:39
  Speaker 1: And is there a difference between people that build from
• 24:42
  Speaker 1: the ground up and they build something up their own
• 24:45
  Speaker 1: and then getting investors or people that get investors off
• 24:49
  Speaker 1: the gates? For example, Rihanna's company is through Findy, like
• 24:53
  Speaker 1: when you have a company within the company. Is there
• 24:56
  Speaker 1: a difference as far as the way as far as
• 25:01
  Speaker 1: billionaires are concerned, based on a disconnect, I would say.
• 25:07
  Speaker 2: I have no idea. I don't really think about too
• 25:10
  Speaker 2: much about what billionaires do. I'm not a billionaire. Not
• 25:15
  Speaker 2: a concern of mine. From an entrepreneurial perspective, I think basically,
• 25:25
  Speaker 2: in my opinion, the only thing that really matters is
• 25:28
  Speaker 2: finding something in the marketplace to provide value, someplace in
• 25:31
  Speaker 2: the marketplace to provide value. Every entrepreneur, almost every entrepreneur
• 25:36
  Speaker 2: I know, started their business in a couple of different ways.
• 25:41
  Speaker 2: They either sell a company or a business or product
• 25:45
  Speaker 2: or a service, out there that they could either do cheaper, faster,
• 25:52
  Speaker 2: or they could combine with something else and make it
• 25:55
  Speaker 2: a bit better. I mean, that's pretty much it. Like,
• 25:58
  Speaker 2: there's very few entrepreneurs out there that go create an
• 26:02
  Speaker 2: entire new marketplace, like like Elon Musk, for example, creating SpaceX.
• 26:10
  Speaker 2: There's that's like a once in a generation kind of
• 26:15
  Speaker 2: person who creates an entire new marketplace. Right. I mean
• 26:21
  Speaker 2: you could say like Jeff Bezos with Amazon. I mean
• 26:26
  Speaker 2: he didn't invent exactly, he didn't invent e commerce, but man,
• 26:32
  Speaker 2: he sure changed the whole realm of what e commerce
• 26:36
  Speaker 2: looks like. Right. He created an entire new world of
• 26:40
  Speaker 2: e commerce. Those are like once in a generation kind
• 26:43
  Speaker 2: of people. And I admire those people and I think
• 26:47
  Speaker 2: they're incredible, but that's not really who I am. And
• 26:52
  Speaker 2: most of the people I know, they're not creating entire
• 26:55
  Speaker 2: new worlds that didn't previously exist. They So from a
• 27:01
  Speaker 2: let's tone it down a little bit and say how
• 27:04
  Speaker 2: can I become an entrepreneur? You go out there and
• 27:06
  Speaker 2: you say, look, I just saw some thing in the
• 27:12
  Speaker 2: marketplace where I could do it better, I could do
• 27:14
  Speaker 2: it faster, or I could do it cheaper, you know, Like,
• 27:19
  Speaker 2: there's so many stories of people that are like, hey,
• 27:22
  Speaker 2: I live in downtown x y Z town and there's
• 27:27
  Speaker 2: not a good coffee shop here. I'm going to start
• 27:29
  Speaker 2: a coffee shop downtown and give my customers amazing coffee
• 27:35
  Speaker 2: with an amazing experience. It's extremely simplistic. And I'm not saying, oh,
• 27:40
  Speaker 2: let's Bobby said we should start a coffee shop in town, like,
• 27:43
  Speaker 2: I'm not saying that. I'm just saying that's such a
• 27:46
  Speaker 2: simplistic business model and such a simple thing to do.
• 27:50
  Speaker 2: But look around all these small towns or midside or
• 27:54
  Speaker 2: big towns whatever around the country or around the world,
• 27:58
  Speaker 2: and you see there are those coffee shops. And they
• 28:01
  Speaker 2: happened because somebody was walking through downtown saying, man, there
• 28:06
  Speaker 2: just should be a coffee shop down here that has
• 28:09
  Speaker 2: a really good experience and really good coffee. And now
• 28:12
  Speaker 2: look like it happens everywhere. Again, don't don't take that
• 28:17
  Speaker 2: as I need to go start a coffee shop in Paducah, Kentucky. Like,
• 28:21
  Speaker 2: don't do that. I mean, it's you know, that's a
• 28:23
  Speaker 2: pretty saturated market. It was just a just an example,
• 28:28
  Speaker 2: but that's how most businesses start you're just sitting around
• 28:32
  Speaker 2: one day and you're like, man, I just need this,
• 28:36
  Speaker 2: Like if I had this one thing in my kitchen,
• 28:41
  Speaker 2: Like I can't find this thing that would make my
• 28:44
  Speaker 2: life easier in this kitchen. Like that's how so many products.
• 28:46
  Speaker 2: It's so like you mentioned shark Tank, I've got to
• 28:50
  Speaker 2: I'm not gonna mention specifically names or a specific product
• 28:53
  Speaker 2: because you know, I don't know if he wants me
• 28:55
  Speaker 2: to say stuff like that in social media. But I
• 28:58
  Speaker 2: have a really good friend who is shark Tank. A
• 29:00
  Speaker 2: few years ago, got funded and the business exploded, like
• 29:07
  Speaker 2: he took off. Not only did it explode because of
• 29:10
  Speaker 2: the money the investors he got from the Shark Tank guys,
• 29:14
  Speaker 2: but just the exposure and within like a couple of
• 29:18
  Speaker 2: years that they had a home improvement product that was
• 29:21
  Speaker 2: in all every home depot and every low store in
• 29:24
  Speaker 2: the US Walmart two. I think they were huge in
• 29:28
  Speaker 2: a matter of time. And this guy was a tradesman.
• 29:34
  Speaker 2: He had a he had a job, you know, he
• 29:39
  Speaker 2: had a like a civil service job, but he had
• 29:42
  Speaker 2: a where he was working like three days on, four day,
• 29:45
  Speaker 2: four days off kind of job. And in his off
• 29:48
  Speaker 2: days he did like some different thing like handyman kind
• 29:52
  Speaker 2: of stuff. And just one day he was out doing
• 29:56
  Speaker 2: handyman stuff and he was like, man, if we just
• 30:00
  Speaker 2: had this one tool, it would make my life doing
• 30:03
  Speaker 2: this kind of job so much easier. And it was
• 30:07
  Speaker 2: the dumbest, most simple product I had ever seen, like,
• 30:13
  Speaker 2: but it worked. It worked, and the Shark Tank guys
• 30:18
  Speaker 2: are like, this thing is amazing. And it just came
• 30:20
  Speaker 2: from him saying, man, my job doing this thing would
• 30:25
  Speaker 2: be so much easier if I had this tool. And
• 30:28
  Speaker 2: it was a simple, stupid tool made out of plastic,
• 30:30
  Speaker 2: and it made his life so much easier. But it
• 30:32
  Speaker 2: blew up. And that's how businesses. That's how most businesses
• 30:35
  Speaker 2: get started. Most people I know that start businesses, they
• 30:39
  Speaker 2: they do that. Like a buddy of mine named Georgia,
• 30:41
  Speaker 2: he's an engineer and he sees he has an engineering firm.
• 30:47
  Speaker 2: They do engineering projects. They usually do some weird stuff
• 30:51
  Speaker 2: like they go out and design stages for WWE and
• 30:57
  Speaker 2: stuff like that where people like come in on a
• 30:59
  Speaker 2: zip line and you know, crazy stuff like that. But
• 31:02
  Speaker 2: they get all these projects that come to them and
• 31:06
  Speaker 2: they can't handle all of it, so they outsourced. They
• 31:09
  Speaker 2: find these like single engineers, like these solopreneur engineers that
• 31:14
  Speaker 2: are out there and they're like, hey, you want to
• 31:16
  Speaker 2: come in and help us finish this project so you
• 31:20
  Speaker 2: can stamp off on this project. And during the course
• 31:25
  Speaker 2: of doing that, he found out that a bunch of
• 31:27
  Speaker 2: these engineers, like solo preneur engineers that had like just
• 31:31
  Speaker 2: one guy and maybe I don't know, a secretary or something,
• 31:35
  Speaker 2: and that's it. Like they just had a tiny little office.
• 31:38
  Speaker 2: And he found out basically all these guys had no
• 31:43
  Speaker 2: idea how to market their services. They had a hard
• 31:46
  Speaker 2: time managing the back end like bookkeeping and administration and
• 31:49
  Speaker 2: all that stuff. So he ended up starting a marketing
• 31:53
  Speaker 2: agency for engineers and he just handles the marketing for
• 32:00
  Speaker 2: of engineering firms now. And then he started a company
• 32:04
  Speaker 2: handling the administration for engineers, so outsourced bookkeeping and fractional
• 32:10
  Speaker 2: CFO work for engineering firms. He just saw this weird
• 32:14
  Speaker 2: need in the marketplace for these specific small businesses, and
• 32:19
  Speaker 2: it's just it's just how it happens in most people.
• 32:23
  Speaker 2: Most people are not Jeff Bezos sitting in his garage thinking,
• 32:27
  Speaker 2: you know what we need to do. We need to
• 32:28
  Speaker 2: sell books to everyone on the planet. Like most people
• 32:31
  Speaker 2: don't think like that, and you don't need to. You
• 32:33
  Speaker 2: don't need to think like that. Most people don't have
• 32:36
  Speaker 2: Rihanna's like stardom. They don't have they don't have that
• 32:42
  Speaker 2: ability to leverage, you know, their celebrity status. So you
• 32:49
  Speaker 2: don't have that, Like I don't have that. You don't
• 32:52
  Speaker 2: have that, Like it's not something we have. So I
• 32:54
  Speaker 2: can't go to my friends and be like, you know
• 32:56
  Speaker 2: what you need to do. You should do what Rihanna did,
• 32:58
  Speaker 2: Like give me a break. You're not like you you're
• 33:01
  Speaker 2: not gonna be able to do that. I mean I
• 33:03
  Speaker 2: have I'm not gonna mention her name, But my daughter
• 33:07
  Speaker 2: is a singer. Also, she's a pop star. She can
• 33:10
  Speaker 2: do that, Like she can say, hey, let's do what
• 33:13
  Speaker 2: Rihanna did, like and she does that like she has
• 33:16
  Speaker 2: business like because that it uses her celebrity status to
• 33:21
  Speaker 2: do that. But can I do it non celebrities. Nobody
• 33:25
  Speaker 2: knows who Bobby is. Like that's silly, Like I can't
• 33:29
  Speaker 2: go out and start a cologne brand called the Bobby
• 33:33
  Speaker 2: Nobody cares, right.
• 33:35
  Speaker 1: Yeah, I think that's where a lot of people in
• 33:38
  Speaker 1: the industry mess up.
• 33:39
  Speaker 3: And I think even with us working with the jobs.
• 33:43
  Speaker 3: I remember my dad told me. He was like, you're
• 33:46
  Speaker 3: only supposed.
• 33:47
  Speaker 1: To work if you work a really job until you
• 33:49
  Speaker 1: learn everything, and then you're supposed to build something up
• 33:52
  Speaker 1: your own. I've seen, you know, jobs where they do
• 33:56
  Speaker 1: the non compete clause where you can't take your clients
• 33:59
  Speaker 1: with the.
• 34:00
  Speaker 3: You when you leave that job.
• 34:02
  Speaker 1: But I feel like that we're in this place in general,
• 34:06
  Speaker 1: in all of our lives, where there are people that
• 34:10
  Speaker 1: just don't want you to evolve or grow or elevate
• 34:13
  Speaker 1: or mature into what you're meant to be. And when
• 34:18
  Speaker 1: I lost my job, I said, I'm tired of the
• 34:21
  Speaker 1: rugby and pulled from up under me. You know, I'm
• 34:23
  Speaker 1: tired of going to a job where there's no guarantee
• 34:26
  Speaker 1: that I'm going to be there for thirty forty years.
• 34:29
  Speaker 1: You know, there's no guarantee that I'm going to be
• 34:33
  Speaker 1: able to take care of my child, where I'm able
• 34:39
  Speaker 1: to know what's going on with my child because I
• 34:41
  Speaker 1: work eight hours a day, missing events, things of that nature.
• 34:46
  Speaker 1: And so, you know, I told my mother the other day,
• 34:49
  Speaker 1: I said, the money I'm getting from my dad is
• 34:52
  Speaker 1: going into building something that is a foundation. I said,
• 34:57
  Speaker 1: because you know, I want to make jewelry, I want
• 35:02
  Speaker 1: to do coaching in my podcast and starting to build.
• 35:07
  Speaker 1: And I said, the one thing I'm not going to
• 35:10
  Speaker 1: do is at like, I still don't have bills.
• 35:12
  Speaker 3: And I think that's where a lot of people go
• 35:14
  Speaker 3: wrong too.
• 35:16
  Speaker 1: I tell people, keep your job and build something when
• 35:20
  Speaker 1: you and then figure out how much a month that
• 35:23
  Speaker 1: you're going to make in that business, and can it
• 35:26
  Speaker 1: sustain through three years. If it's going to sustain and
• 35:30
  Speaker 1: you know you're making twenty thousand dollars a month and
• 35:34
  Speaker 1: you know you're going to be able to live off
• 35:36
  Speaker 1: that without buying a house, then I would say, okay,
• 35:41
  Speaker 1: quit your job. But I think where a lot of
• 35:43
  Speaker 1: people go wrong too is as soon as they make money,
• 35:46
  Speaker 1: they spend it, versus saying, Okay, yeah, I made twenty
• 35:51
  Speaker 1: thousand dollars a month and yeah, you know, but I'm
• 35:55
  Speaker 1: still gonna live in my regular house because right now
• 36:00
  Speaker 1: I can't just spend that money because you know, like
• 36:04
  Speaker 1: you said, you know.
• 36:06
  Speaker 3: Businesses, small business businesses.
• 36:08
  Speaker 1: Right now are going out of business right now because
• 36:10
  Speaker 1: of everything.
• 36:11
  Speaker 3: With terrors, you never know what's going to happen.
• 36:16
  Speaker 1: And so I said, my mom, I said, even about
• 36:18
  Speaker 1: May twenty thousand dollars a month, I said, I'm still
• 36:21
  Speaker 1: not gonna go and buy a Bougatti or go.
• 36:24
  Speaker 3: Buy a million dollar house.
• 36:27
  Speaker 1: I said, because you know a lot of billionaires say
• 36:30
  Speaker 1: I don't even use my money, I use credit.
• 36:33
  Speaker 2: They yeah, I have a few comments there. So the
• 36:41
  Speaker 2: wealth formula is pretty it's pretty simple, and most people
• 36:44
  Speaker 2: don't really understand the wealth formula. It's basically, your income
• 36:49
  Speaker 2: minus your expenses equals your savings. Your savings times your
• 36:53
  Speaker 2: investment rate is your wealth. Right, And that's an insanely
• 36:57
  Speaker 2: simplistic formula. But allos everyone screws up the expenses, almost everyone.
• 37:08
  Speaker 2: Like I can make ten thousand dollars a month and
• 37:11
  Speaker 2: become a millionaire if I manage my expenses. I can
• 37:17
  Speaker 2: also make one hundred thousand dollars a month and never
• 37:20
  Speaker 2: become a millionaire because I don't know how to manage
• 37:22
  Speaker 2: my expenses. Like I have a good friend of mine,
• 37:25
  Speaker 2: I haven't seen him in a couple of years. He
• 37:27
  Speaker 2: made big money, like I don't think he ever made
• 37:30
  Speaker 2: less than a million dollars a year, like sometimes way more.
• 37:33
  Speaker 2: He was a trader, like a like a not a
• 37:37
  Speaker 2: stop trader, but a come out of these trader. And
• 37:41
  Speaker 2: I remember one time I was in uh, I think
• 37:44
  Speaker 2: New York or Montreal, I can't remember. I was either
• 37:47
  Speaker 2: in Montreal or New York with him, and it was
• 37:51
  Speaker 2: like probably forty of us we were at of like
• 37:54
  Speaker 2: a small event. There's probably forty of us in the
• 37:56
  Speaker 2: bar in our group, thirty or forty group, and then
• 38:00
  Speaker 2: everyone else that was in the bar, so maybe another
• 38:03
  Speaker 2: thirty forty people in this bar. And it was a
• 38:06
  Speaker 2: really like high end plush, you know, bougie kind of bar.
• 38:11
  Speaker 2: And he ended up buying everyone in our group. He
• 38:16
  Speaker 2: bought don't perry On Magnum bottles, but he bought like
• 38:19
  Speaker 2: one bottle for every two people. Oh wow, I mean
• 38:23
  Speaker 2: each bought each one of those bottles is like a
• 38:25
  Speaker 2: thousand bucks, okay in a bar. And then he ended
• 38:29
  Speaker 2: up picking up the bar tab for the whole bar,
• 38:31
  Speaker 2: everyone in the bar. Like I mean, it was well
• 38:36
  Speaker 2: over one hundred thousand dollars bar tab for sure. And
• 38:40
  Speaker 2: I remember thinking at the time, like, wow, man, he
• 38:43
  Speaker 2: makes a lot of money to be able to pick
• 38:45
  Speaker 2: up a one hundred thousand I'm speculating one hundred thousand
• 38:48
  Speaker 2: dollars bar tab. But later on I started thinking like
• 38:50
  Speaker 2: that was really stupid, Like I could I could buy
• 38:54
  Speaker 2: my own drink. I didn't. I don't want I don't
• 38:56
  Speaker 2: even like champagne, Like why buy me a bottle of
• 38:59
  Speaker 2: don't perry you on? I don't even like champagne. I'm
• 39:01
  Speaker 2: not even gonna drink it, Like that's just stupid. And
• 39:05
  Speaker 2: I remember thinking like he's been one hundred k. And
• 39:07
  Speaker 2: then like I taught my kids this how how to
• 39:12
  Speaker 2: do a compounding interest to Excel spreadsheet. So you put
• 39:16
  Speaker 2: one hundred thousand in and then you compounded it, let's
• 39:20
  Speaker 2: say ten percent a year, and you add some money
• 39:23
  Speaker 2: every year. Well, if you do a compounding interest spreadsheet,
• 39:27
  Speaker 2: what you realize is if I blow one hundred thousand
• 39:30
  Speaker 2: dollars today, that cost me like several million dollars like
• 39:36
  Speaker 2: twenty years from now. Yeah, like that cost me. And
• 39:40
  Speaker 2: you know, you read like some of these books like
• 39:44
  Speaker 2: what's one that came out a long time ago, The
• 39:46
  Speaker 2: Millionaire next Door or something like that, and I'm not
• 39:51
  Speaker 2: like a super frugal person that like the Millionaire next
• 39:55
  Speaker 2: Door talks about like the average millionaire about how you
• 39:59
  Speaker 2: know they drive, use toyotas and how they don't buy
• 40:02
  Speaker 2: Starbucks every day and stuff like that, Like that's maybe
• 40:07
  Speaker 2: a little bit extreme to like, hey, whatever, I like
• 40:10
  Speaker 2: to drink my Starbucks once in a while, okay, But
• 40:14
  Speaker 2: but it does add up. If you spend seven bucks
• 40:18
  Speaker 2: a day every day at Starbucks, you know, times three
• 40:21
  Speaker 2: hundred days a year, that's over two thousand dollars. Is
• 40:24
  Speaker 2: probably closer to three thousand dollars a year if you
• 40:27
  Speaker 2: did it every day, three thousand dollars a year. If
• 40:29
  Speaker 2: you do the compounding effect of that on wealth, Like
• 40:32
  Speaker 2: if you just invest it in even a basic S
• 40:35
  Speaker 2: and P five hundred fund, making ten percent a year,
• 40:38
  Speaker 2: like after ten years, that's tens of thousands of dollars.
• 40:43
  Speaker 2: That your your need to have Starbucks every day. Now again,
• 40:47
  Speaker 2: I just want to stress, like I'm not saying never
• 40:50
  Speaker 2: drink Starbucks, Like that's you know, go Starbucks if you
• 40:53
  Speaker 2: want once in a while. But you it's the mindset
• 40:56
  Speaker 2: of I got a little bit of money, let me
• 40:58
  Speaker 2: spend it as fast as I can. Well, you're never
• 41:00
  Speaker 2: going to reach you're never going to become wealthy and
• 41:03
  Speaker 2: have financial security if you don't have a saving mindset
• 41:08
  Speaker 2: to some extent. I mean, there's always like me personally,
• 41:11
  Speaker 2: I could tell you what I do. I pay myself
• 41:15
  Speaker 2: a basic salary for my company, and I don't even
• 41:20
  Speaker 2: touch it. It automatically pays to me, and then every
• 41:26
  Speaker 2: month a big chunk of that goes into my investment portfolio,
• 41:30
  Speaker 2: like and it's automated, like it automatically drafts from my
• 41:34
  Speaker 2: bank account. It goes into my portfolio. It's auto invested
• 41:38
  Speaker 2: in funds and stuff like that. Like, I don't even
• 41:40
  Speaker 2: touch it. It's just every month I log in, Oh, okay,
• 41:43
  Speaker 2: that's good, that's doing good. You know, of course, sometimes
• 41:45
  Speaker 2: you log in, right, oh shit, that went down. But
• 41:50
  Speaker 2: it's it's a mindset and a conditioning. It's it's, you know,
• 41:57
  Speaker 2: you just have to be what's the word. You have
• 42:01
  Speaker 2: to be like mentally strong to be able to save
• 42:06
  Speaker 2: that money instead of oh I made a bunch of money,
• 42:08
  Speaker 2: let me go buy a new car. Like My lifestyle
• 42:13
  Speaker 2: is a little bit different. I lived between three countries
• 42:17
  Speaker 2: and I have a car in one of those countries,
• 42:22
  Speaker 2: but I almost never drive it. Honestly, I should just
• 42:24
  Speaker 2: sell it because I never really drive it. The only
• 42:27
  Speaker 2: the only reason I ever use it is when I
• 42:29
  Speaker 2: go out of town, I don't even drive the car
• 42:31
  Speaker 2: in town. And I'm in Mexico right now. I don't
• 42:35
  Speaker 2: have a car here. I don't need one, Like it's
• 42:38
  Speaker 2: a waste of money every time I think I should
• 42:40
  Speaker 2: buy a car because oh, it would be super convenient
• 42:43
  Speaker 2: if I had a car, because maybe in two weeks
• 42:45
  Speaker 2: I want to go out of town. But I just
• 42:47
  Speaker 2: rent a car when I need it, or take a
• 42:49
  Speaker 2: taxi or something. But the well formula is so simple,
• 42:54
  Speaker 2: and people just screw up the savings party because they just, oh,
• 42:57
  Speaker 2: I made a bunch of money, let me blow it.
• 42:59
  Speaker 2: So that that's one thing I want to comment on.
• 43:01
  Speaker 2: Another thing I want to comment on. You said your
• 43:03
  Speaker 2: dad told you to get the job and learn everything
• 43:06
  Speaker 2: you can before you start your own thing. I don't
• 43:10
  Speaker 2: want to pick on your dad here, but I will
• 43:14
  Speaker 2: tell you I disagree with that statement one hundred percent
• 43:17
  Speaker 2: because the reason I disagree with it is I think
• 43:23
  Speaker 2: and maybe you're just making a simplistic statement there and
• 43:26
  Speaker 2: don't go into detail about what he actually said. So
• 43:29
  Speaker 2: let's leave that aside for a minute. I'll just make
• 43:32
  Speaker 2: the comment. My view is take action. There's a book
• 43:37
  Speaker 2: out there called Ready Fire Aim one of my favorite books,
• 43:41
  Speaker 2: and basically the whole premise is most people wait too
• 43:46
  Speaker 2: long to start something because they You've probably heard the
• 43:50
  Speaker 2: term analysis paralysis. Yeah, where you overanalyze things and you
• 43:56
  Speaker 2: think everything has to be perfect before you take action.
• 44:00
  Speaker 2: That never works. Like, it's not something that works. I
• 44:04
  Speaker 2: could tell you in my experience, every business I've ever started,
• 44:10
  Speaker 2: I started way before I knew anything about it. Like
• 44:16
  Speaker 2: my first real business I started when I was twenty one.
• 44:19
  Speaker 2: I actually went and worked for another company. Long story
• 44:21
  Speaker 2: how it happened. It was a funny situation, but I
• 44:24
  Speaker 2: did end up going to work for another company doing
• 44:26
  Speaker 2: what that company my company did. Later, I worked for
• 44:30
  Speaker 2: them literally like two months, and I said, and I
• 44:34
  Speaker 2: had a non compete by the way. I worked for
• 44:37
  Speaker 2: them for like two months, and I was like, I
• 44:41
  Speaker 2: don't really want to work for them anymore, Like I
• 44:43
  Speaker 2: could do this on my own. And did I know
• 44:46
  Speaker 2: everything about their business? No, I didn't even know the
• 44:50
  Speaker 2: most basic things about the business. But I took action.
• 44:54
  Speaker 2: I just I just pulled the trigger and took action
• 44:57
  Speaker 2: and I started that business. After I worked for them
• 45:04
  Speaker 2: for two months, I quit and then I started my
• 45:08
  Speaker 2: own thing. It really took me about three months before
• 45:13
  Speaker 2: I saw the first dollar of revenue because I was
• 45:15
  Speaker 2: just hustling trying to find clients, and I finally got it.
• 45:20
  Speaker 2: The first year was not great. We did. I did
• 45:26
  Speaker 2: about one hundred and eighty thousand dollars in revenue for
• 45:29
  Speaker 2: the business, which netted me probably about thirty thousand a
• 45:35
  Speaker 2: year in income. But keep in mind, I'm fifty one now,
• 45:39
  Speaker 2: so this is when this is like thirty years ago.
• 45:42
  Speaker 2: This is when I was twenty one. So thirty K
• 45:45
  Speaker 2: year thirty years ago was you know, I mean, it
• 45:48
  Speaker 2: wasn't great, but you could definitely live on thirty K
• 45:50
  Speaker 2: year thirty Yeah, like you that was a decent income
• 45:55
  Speaker 2: thirty years ago. That probably made about thirty K that year.
• 46:00
  Speaker 2: I didn't know nothing of nothing about how to run
• 46:04
  Speaker 2: that business, like, but I didn't care. I just pulled
• 46:08
  Speaker 2: the trigger. I just jumped and took action, and I
• 46:10
  Speaker 2: just learned along the way. Every step I'd be like,
• 46:13
  Speaker 2: oh my god, I can't believe I did that. I'm
• 46:14
  Speaker 2: so stupid. But I learned my lesson, and I learned
• 46:17
  Speaker 2: my lesson, and I learned my lesson, and I learned
• 46:19
  Speaker 2: my lesson and I learned my lesson every time, and
• 46:23
  Speaker 2: by the third year in that business, we did over
• 46:26
  Speaker 2: a million in revenue and I probably made two two
• 46:31
  Speaker 2: hundred and fifty thousand income somewhere in that ballpark. So
• 46:37
  Speaker 2: if I would have waited until I knew everything about
• 46:39
  Speaker 2: that business, I probably would have worked for the company
• 46:41
  Speaker 2: five years. Like I probably would have started done everything
• 46:46
  Speaker 2: I could, asked for a promotion, tried to get a
• 46:49
  Speaker 2: management job, and blah blah blah, all this stuff to
• 46:51
  Speaker 2: work my way up the ladder, so to speak, to
• 46:53
  Speaker 2: learn everything. And during that process, if I would have
• 46:57
  Speaker 2: done that for five years, I mean I probably would
• 46:59
  Speaker 2: have had a salary of at the end of five years,
• 47:04
  Speaker 2: I probably would have a salary of like sixty K
• 47:06
  Speaker 2: a year or something like that. But instead I just
• 47:12
  Speaker 2: pulled the trigger and learned it, learned it along the way,
• 47:15
  Speaker 2: and by the third year I netted about two hundred
• 47:18
  Speaker 2: and fifty thousand, And that was only because I was like,
• 47:21
  Speaker 2: I'm just going to pull the trigger, and that's what
• 47:23
  Speaker 2: I've always done everything Like for me in business, you
• 47:29
  Speaker 2: go out and you find an opportunity where you improve something,
• 47:35
  Speaker 2: do it better, cheaper, faster, whatever, and then you just work.
• 47:40
  Speaker 2: And the work ethic is the other thing that I
• 47:42
  Speaker 2: think most people don't really know how to do. To
• 47:47
  Speaker 2: be direct, I just don't think most people have the
• 47:49
  Speaker 2: work ethic. Like I started that business when I was
• 47:52
  Speaker 2: twenty one with a partner. After one year, he was like,
• 47:56
  Speaker 2: I can't do this anymore, Like I can't work like
• 48:00
  Speaker 2: you do. Can you buy me out? So I bought
• 48:03
  Speaker 2: him out for the money he put into it and
• 48:08
  Speaker 2: was on my way. But my work ethic was ridiculous,
• 48:13
  Speaker 2: like to the point of being seriously unhealthy. Like I
• 48:19
  Speaker 2: would work sometimes three days straight without sleep. I don't
• 48:23
  Speaker 2: mean work eight hours a day and eight hours a
• 48:26
  Speaker 2: day the next day and eight hours a day the
• 48:27
  Speaker 2: next day. I mean I would work seventy hours straight
• 48:32
  Speaker 2: without sleep. I remember one time in my first year
• 48:37
  Speaker 2: in business, I literally worked about seventy hours straight during Christmas.
• 48:41
  Speaker 2: And I was driving home on Christmas Eve after working
• 48:46
  Speaker 2: seventy hours straight and I was hallucinating on the highway
• 48:51
  Speaker 2: driving home. I'm not exaggerating. I was driving down the
• 48:55
  Speaker 2: highway and I saw pink gorillas walking down the side
• 49:00
  Speaker 2: of the highway and I thought, Okay, I definitely need
• 49:06
  Speaker 2: to sleep something is my brain is not working right here.
• 49:09
  Speaker 2: And then I drove like another thirty minutes and in
• 49:13
  Speaker 2: an instant, I saw a brick wall on the highway,
• 49:17
  Speaker 2: like across the highway, and I slammed on the brakes
• 49:21
  Speaker 2: and came like to a screeching halt on the highway,
• 49:24
  Speaker 2: like a big four lane highway. I came to a
• 49:26
  Speaker 2: screeching halt because I thought I was about to hit
• 49:28
  Speaker 2: a brick wall, and I looked up and the obviously
• 49:31
  Speaker 2: there's no wall, Like like my brain was just playing
• 49:34
  Speaker 2: tricks on me. But my work ethic was so crazy.
• 49:37
  Speaker 2: My partner was like, bro, I can't. I can't do
• 49:41
  Speaker 2: this anymore, Like you're physically killing me. And I'm not
• 49:45
  Speaker 2: saying you have to do that, but you have to
• 49:48
  Speaker 2: be willing to. Yeah, if you're starting a company, hopefully
• 49:55
  Speaker 2: you don't have to do that. But my mindset was
• 50:00
  Speaker 2: I will literally do whatever it takes. There was no
• 50:06
  Speaker 2: limit on what I would do to run to get
• 50:09
  Speaker 2: that business off the ground if I had to work
• 50:11
  Speaker 2: setting me. I mean, there was multiple times I would
• 50:14
  Speaker 2: drive like to another location like in that business we had,
• 50:18
  Speaker 2: like we worked on site at different locations and there
• 50:21
  Speaker 2: were times I would drive, and I would work like
• 50:24
  Speaker 2: twelve hours at one location, drive an hour two to
• 50:26
  Speaker 2: another location, work twelve hours, drive an hour two to
• 50:30
  Speaker 2: another location, work twelve hours like that, and sometimes I
• 50:33
  Speaker 2: would be obviously I would be like physically exhausted, and
• 50:38
  Speaker 2: I would One time I was driving home and I
• 50:43
  Speaker 2: was like less than an hour from home and I
• 50:46
  Speaker 2: could not drive anymore. I physically couldn't do it. I
• 50:49
  Speaker 2: had less than an hour I could be home in
• 50:51
  Speaker 2: my bed, and I couldn't do it. I pulled over
• 50:54
  Speaker 2: to rest stop on the highway, and I'm like, I'm
• 50:58
  Speaker 2: just going to sleep for like an hour. It was
• 51:00
  Speaker 2: like late at night, like eleven o'clock at night or something.
• 51:03
  Speaker 2: I said, I'm just gonna pull over on the highway
• 51:05
  Speaker 2: and sleep for like an hour, get a little recharge,
• 51:08
  Speaker 2: and then I'll drive home and sleep for rest of
• 51:10
  Speaker 2: the night. And I pulled over the rest stop, cracked
• 51:13
  Speaker 2: my windows, you know, so I didn't suffocate, and fell
• 51:17
  Speaker 2: asleep in the car. I woke up twelve hours later,
• 51:21
  Speaker 2: a wow, like I had no I mean, I've been
• 51:26
  Speaker 2: working NonStop for like days, and I woke up twelve
• 51:30
  Speaker 2: hours later drenched in sweat because like the sun heating
• 51:34
  Speaker 2: up the inside of the car, but I was so
• 51:37
  Speaker 2: exalted I didn't wake up. So are you willing to
• 51:41
  Speaker 2: do that for your business to get things going or not?
• 51:44
  Speaker 2: Like I hope you don't need to, but like if
• 51:48
  Speaker 2: you're starting a company, like you kind of have to
• 51:51
  Speaker 2: have that mindset to do whatever it takes to get
• 51:54
  Speaker 2: it off the ground. And to your point, like maybe
• 51:57
  Speaker 2: you've got a job and you need to have the
• 52:00
  Speaker 2: side gig to hustle until it overtakes or at least
• 52:04
  Speaker 2: comes close to overtaking your job income. Are you willing
• 52:10
  Speaker 2: to basically sleep four hours a night because you have
• 52:14
  Speaker 2: a full time job. You go to work at eight,
• 52:16
  Speaker 2: come home at six, and are you willing to eat
• 52:20
  Speaker 2: ramen for dinner and back to work at six point
• 52:22
  Speaker 2: thirty until you know at one o'clock in the morning.
• 52:26
  Speaker 2: Are you willing to do that? I don't think most
• 52:28
  Speaker 2: people are. I don't think most people are willing to
• 52:32
  Speaker 2: put in that much energy and effort. But you know,
• 52:36
  Speaker 2: what's the saying if you're going to have if you're
• 52:38
  Speaker 2: going to have a life that other people don't have,
• 52:42
  Speaker 2: you're gonna have to be willing to do things other
• 52:44
  Speaker 2: people aren't willing to.
• 52:45
  Speaker 3: Do It's true, agree, and that's.
• 52:49
  Speaker 2: That's just the reality of the situation. Like I said,
• 52:53
  Speaker 2: hopefully you don't have to do that crazy stuff I
• 52:56
  Speaker 2: was doing, but hopefully you have the mindset that you
• 53:00
  Speaker 2: will if you have to, you need to do that,
• 53:04
  Speaker 2: Like I mean, I got friends right now that are
• 53:08
  Speaker 2: starting new companies. Like I just talked to a friend
• 53:10
  Speaker 2: of mine a couple of weeks ago. He's fifty four,
• 53:16
  Speaker 2: fifty five something like that, and he's he's starting a
• 53:20
  Speaker 2: new company in the tech space, and he works like
• 53:24
  Speaker 2: sixteen hours a day, seven days a week at fifty
• 53:27
  Speaker 2: four years old. Do you need to do that? I don't.
• 53:32
  Speaker 2: I don't know if he needs to do that or not.
• 53:33
  Speaker 2: But he's willing to and he's doing it. It's not
• 53:37
  Speaker 2: his first company, by the way, he's kind of like me.
• 53:38
  Speaker 2: He's always been an entrepreneur. He has some money. He
• 53:41
  Speaker 2: doesn't have to do this, but he's doing whatever it
• 53:44
  Speaker 2: takes for his business. So like it's one it's one
• 53:48
  Speaker 2: thing when you do it, Like I was twenty one
• 53:51
  Speaker 2: doing twenty one, twenty thirty, now I'm fifty one. Like
• 53:55
  Speaker 2: could I physically stay awake seventy hours straight working right now.
• 54:00
  Speaker 2: I don't know. No, I can't physically do that right now.
• 54:07
  Speaker 2: But I do go in like work spurts where like
• 54:14
  Speaker 2: I'll go three or four months where I'm like glued
• 54:18
  Speaker 2: to my desk working hardcore, you know, speaking at events,
• 54:24
  Speaker 2: doing podcasts, building new products, doing you know, outbound sales
• 54:30
  Speaker 2: call stuff like that. Twelve twelve to fifteen hours a day.
• 54:35
  Speaker 2: And entrepreneurship is not easy. It is difficult. I don't
• 54:40
  Speaker 2: I don't want to make it sound like it's a
• 54:43
  Speaker 2: scary thing and nobody wants it. It's too hard. And
• 54:47
  Speaker 2: you know, some people think that, like, man, I'd rather
• 54:49
  Speaker 2: just have a job. It's easier. I don't have to
• 54:51
  Speaker 2: worry about it, and so be it. If that's if
• 54:53
  Speaker 2: that's what you want, so be it. But I will say,
• 54:56
  Speaker 2: is it rewarding? Yes, it is for me. Like I mean,
• 55:03
  Speaker 2: I lived between three countries. I travel a lot. You know,
• 55:07
  Speaker 2: last week I briefly mentioned that my daughter as a
• 55:12
  Speaker 2: singer and her first uh not first, but she's been
• 55:17
  Speaker 2: a singer for a long time. But her US tours
• 55:20
  Speaker 2: started last week in Arizona, and I just took off
• 55:25
  Speaker 2: for the week. I just took a week off, went
• 55:27
  Speaker 2: to Arizona for the week. I went to her show.
• 55:29
  Speaker 2: I got a bunch of friends that live in Arizona,
• 55:31
  Speaker 2: and we did a bunch of cool stuff. We went
• 55:34
  Speaker 2: like go karting and we went shooting, you know, shooting
• 55:38
  Speaker 2: in the desert. We went off roading in the desert,
• 55:41
  Speaker 2: you know, like hung out with a bunch of buddies.
• 55:43
  Speaker 2: Went to the show, like it was amazing. I didn't
• 55:45
  Speaker 2: work it almost at all last week. If I had
• 55:47
  Speaker 2: a regular job, could I just take off on a
• 55:49
  Speaker 2: whim and take a week off? Nah? Of course, Like
• 55:53
  Speaker 2: you'd have to ask off like months in advance, and
• 55:55
  Speaker 2: maybe you don't even get the time off. And then
• 55:58
  Speaker 2: what like I missed seeing my daughter's show where she
• 56:03
  Speaker 2: you know, her her opening show for her US tour.
• 56:06
  Speaker 2: And so is it worth it for me to do
• 56:08
  Speaker 2: stuff like that? Absolutely? Like absolutely is it worth it?
• 56:13
  Speaker 2: Like this summer, I probably won't work that much. My
• 56:17
  Speaker 2: youngest son graduates high school and him and I are
• 56:19
  Speaker 2: going to travel around Europe all summer. Will I work, Yeah,
• 56:22
  Speaker 2: I will work some. I'll set aside some time to work,
• 56:25
  Speaker 2: but I'm not going to be twelve hours a day
• 56:29
  Speaker 2: sitting at my desk while him and I are like
• 56:32
  Speaker 2: traveling around Europe for the whole summer, Like, and could
• 56:37
  Speaker 2: could I do that if I have a regular eight
• 56:39
  Speaker 2: to five job. No, No, of course not, it's not possible.
• 56:46
  Speaker 2: Like right now, I'm living in Mexico. I live a
• 56:48
  Speaker 2: block from the beach in Mexico. You know, I come
• 56:54
  Speaker 2: here most winter. Most of the time. I come here
• 56:56
  Speaker 2: in the wintertime because it's great weather. There's also a
• 56:59
  Speaker 2: great entrepreneur community here. It's very collaborative. There's a lot
• 57:03
  Speaker 2: of like really smart people doing some really cool things
• 57:06
  Speaker 2: here in the town I'm in. So I like this place.
• 57:12
  Speaker 2: But if I had a regular job, could I just
• 57:14
  Speaker 2: pick up and move to Mexico for the winter. Probably not.
• 57:17
  Speaker 2: Maybe maybe, Like there's people that do work remotely now,
• 57:20
  Speaker 2: a lot of people that work remotely and have a
• 57:22
  Speaker 2: lot of that freedom. But you know, it's less less
• 57:26
  Speaker 2: likely that that's possible, right.
• 57:30
  Speaker 1: Yeah, I get a lot of remote jobs, and yeah,
• 57:34
  Speaker 1: yeah it does have its benefits. And you know, now
• 57:37
  Speaker 1: everything is going on with the gas and everything, a
• 57:40
  Speaker 1: lot of people might be working from home. But yeah,
• 57:42
  Speaker 1: I see a lot of people traveling and they're making
• 57:45
  Speaker 1: money off travel agency and stuff like that. But when
• 57:48
  Speaker 1: my dad told me that, I at first I thought
• 57:51
  Speaker 1: when he said that it was learn everything.
• 57:54
  Speaker 3: He said, no, what I mean by that is you
• 57:57
  Speaker 3: need to find what works for you. Fine what working
• 58:01
  Speaker 3: different jobs, find what works for you.
• 58:04
  Speaker 1: Take management classes, learn how to do business while you're working.
• 58:10
  Speaker 3: Don't just work that job. Make sure you're doing other
• 58:14
  Speaker 3: things so when you're ready for it.
• 58:16
  Speaker 1: BC's because the one thing you don't want to do
• 58:19
  Speaker 1: is when you get into it, you don't know what
• 58:22
  Speaker 1: to expect. As far as knowing how to adapt, he said,
• 58:25
  Speaker 1: that can ask you now, do you know how to adapt?
• 58:28
  Speaker 1: I said yeah, because things change all the time. He said,
• 58:32
  Speaker 1: So once you learn these things and you find what
• 58:35
  Speaker 1: works for you, it's just like traveling. When you travel
• 58:38
  Speaker 1: the world and you're in Mexico and you're saying, okay,
• 58:41
  Speaker 1: I'll leave the United States. Do you even have a
• 58:44
  Speaker 1: plan because I mean, I see a lot of people
• 58:47
  Speaker 1: now that have to leave to Thailand now because they
• 58:50
  Speaker 1: don't have an income. Because the United States finds out
• 58:52
  Speaker 1: you're working remote in the country, it's either you come
• 58:54
  Speaker 1: back or you lose your job. You're not prepared, he said, no,
• 58:58
  Speaker 1: you always have a safety net regardless of what you do,
• 59:02
  Speaker 1: regardless of whether you're married, whether you single, kids, you
• 59:06
  Speaker 1: need to have a safety net because it's something go wrong,
• 59:09
  Speaker 1: then what you have nothing. So I always kept that
• 59:13
  Speaker 1: mind frame of having that safety net. And it took
• 59:17
  Speaker 1: me understanding that to say, Okay, now I see what
• 59:20
  Speaker 1: he means when I go into a job. I see
• 59:23
  Speaker 1: now what he means if I got into a car accident,
• 59:25
  Speaker 1: like my whole entire world changed.
• 59:27
  Speaker 3: When I had two car accidents back to back.
• 59:29
  Speaker 1: They told me I could no no longer work McDonald's jobs,
• 59:32
  Speaker 1: restaurant jobs, these type of jobs that changed everything for me,
• 59:36
  Speaker 1: he says.
• 59:36
  Speaker 3: Or now that you see why I said.
• 59:38
  Speaker 1: You need to make sure you know what you're getting
• 59:40
  Speaker 1: into before you get into it, because anything can happen.
• 59:44
  Speaker 1: It's not so much that you need to know everything
• 59:46
  Speaker 1: about it, but you need to be prepared for the
• 59:49
  Speaker 1: negativity that come with it and make sure that when
• 59:53
  Speaker 1: you're gonna get out, you don't lose nothing. You lose
• 59:57
  Speaker 1: nothing when you go out of it or when you
• 59:59
  Speaker 1: leave it. And I think that's important. I think that
• 1:00:02
  Speaker 1: regardless of what you do, you can try multiple different things.
• 1:00:07
  Speaker 1: But it took me until getting sick to realize the
• 1:00:13
  Speaker 1: jobs don't care about you. It took me getting sick
• 1:00:16
  Speaker 1: and losing my job and having the rug pool from
• 1:00:18
  Speaker 1: up under me and saying I don't want to work
• 1:00:20
  Speaker 1: for nobody no more. You know, I don't want the rug.
• 1:00:22
  Speaker 3: Being pulled from up under me. I'd rather have my own.
• 1:00:25
  Speaker 1: Business and it be pulled because something I did, than
• 1:00:29
  Speaker 1: to have somebody constantly keep pulling the rug from a
• 1:00:33
  Speaker 1: funder me, whether it's personal or regardless of what it is.
• 1:00:36
  Speaker 1: But in the end, but I'm really looking forward to
• 1:00:39
  Speaker 1: doing this conversation because the way you said it, people
• 1:00:42
  Speaker 1: are not saying it in that way.
• 1:00:45
  Speaker 2: They're not I would also would. I would comment a
• 1:00:49
  Speaker 2: little bit on what you're saying too. Again, this is
• 1:00:51
  Speaker 2: not the way I've ever lived. I've always burned the bridges.
• 1:00:55
  Speaker 2: I've never had the I'm not saying it's the right
• 1:00:59
  Speaker 2: way or the wrong way, but for me, I never
• 1:01:03
  Speaker 2: had that backup plan because part of my mindset is
• 1:01:09
  Speaker 2: on this. If I have a backup plan, I don't
• 1:01:12
  Speaker 2: go full and on the thing I'm doing because I'm
• 1:01:16
  Speaker 2: always like, well, I can always fall back and do X.
• 1:01:22
  Speaker 2: I am right now, I am one hundred percent and
• 1:01:25
  Speaker 2: totally completely unemployable. I would if I all my businesses
• 1:01:33
  Speaker 2: collapsed right now and everything just burned to the ground,
• 1:01:38
  Speaker 2: I'd be homeless. Like I'd be homeless because I mean
• 1:01:42
  Speaker 2: not really, I mean I have money, but like if
• 1:01:44
  Speaker 2: I've lost everything and everything burned to the ground, I'd
• 1:01:47
  Speaker 2: be homeless because I'm not employable. My mindset is I'm
• 1:01:52
  Speaker 2: not employable. If even if I got a job, I
• 1:01:56
  Speaker 2: wouldn't last a month. Like I'd be fired. There's no
• 1:01:59
  Speaker 2: way I wouldn't. I'm not the mindset of working for
• 1:02:04
  Speaker 2: I don't have the mindset of working for somebody else.
• 1:02:07
  Speaker 2: Even if I tried to do it, I would probably
• 1:02:09
  Speaker 2: get fired quickly. I don't think I would last very long.
• 1:02:12
  Speaker 2: So I've always been if I burned the bridge, I
• 1:02:16
  Speaker 2: have no choice but to move forward. Yeah, I have
• 1:02:20
  Speaker 2: no choice but to move forward. And that mindset has
• 1:02:25
  Speaker 2: helped me personally. I'm not saying it's right or wrong,
• 1:02:28
  Speaker 2: but that mindset has helped me because then I see
• 1:02:33
  Speaker 2: things going forward as I don't have a choice. I
• 1:02:35
  Speaker 2: have to make this work. And so as an entrepreneur,
• 1:02:40
  Speaker 2: your entire life is moving from failure to failure That's
• 1:02:45
  Speaker 2: literally all you do as a business owner is you
• 1:02:48
  Speaker 2: move from failure to failure. And so if I had
• 1:02:51
  Speaker 2: the mindset, well, I can go back to this other thing,
• 1:02:53
  Speaker 2: or I have this other thing I can fall back on.
• 1:02:57
  Speaker 2: If I'm moving forward and it doesn't work, I might
• 1:03:00
  Speaker 2: give up on it and go back. But if I
• 1:03:03
  Speaker 2: don't have that thing to go back on it, and I
• 1:03:05
  Speaker 2: hit a roadblock, I hit a failure. For me, my
• 1:03:08
  Speaker 2: mindset is, oh, this failed, all right, let's go over here.
• 1:03:12
  Speaker 2: All right, let's try this. If this didn't work, let's
• 1:03:14
  Speaker 2: go over here. Oh that didn't work, let's go over here.
• 1:03:17
  Speaker 2: I don't ever have the mindset of going backwards ever,
• 1:03:21
  Speaker 2: under anything. And that's not only in business, that's in relationships, everything.
• 1:03:28
  Speaker 2: I like, it's funny, just another thing that reminded me
• 1:03:35
  Speaker 2: of this. But like you mentioned before previously, you're talking
• 1:03:40
  Speaker 2: about like not controlling expenses, and we talked about that
• 1:03:44
  Speaker 2: a little bit. How basically people make some money and
• 1:03:47
  Speaker 2: then they just go out and spend everything. I recently
• 1:03:52
  Speaker 2: broke up with a girlfriend because she was out of
• 1:03:55
  Speaker 2: control on her expenses, and she had an ex expectation
• 1:04:01
  Speaker 2: that I would basically buy everything for her if she
• 1:04:07
  Speaker 2: didn't have money or I would buy everything for her
• 1:04:09
  Speaker 2: anyway anyway, But she had her expenses were out of control.
• 1:04:13
  Speaker 2: She just wanted to go shopping like every time we
• 1:04:16
  Speaker 2: were together, every time we would go out, she wanted
• 1:04:19
  Speaker 2: to get like the most expensive steak or whatever every time.
• 1:04:24
  Speaker 2: And I'm all for, let's go to the steakhouse and
• 1:04:27
  Speaker 2: get the ribbi once in a while. I'm fine with that,
• 1:04:30
  Speaker 2: not every time we go out, though, I'm not gonna
• 1:04:33
  Speaker 2: buy you a new pair of shoes every time we'd
• 1:04:36
  Speaker 2: go out. Okay, she had her expenses out of control.
• 1:04:39
  Speaker 2: So for me, the mindset was I can't be with
• 1:04:43
  Speaker 2: somebody with that kind of mindset because that's gonna be stressful,
• 1:04:50
  Speaker 2: like in life. That's going to cause me stress in life.
• 1:04:53
  Speaker 2: And so the other point of this when we broke up,
• 1:04:57
  Speaker 2: when I ended it with her, I told her, I said, look,
• 1:04:59
  Speaker 2: this is this is a problem, Like this is a problem.
• 1:05:03
  Speaker 2: We need to end it. And when we ended it,
• 1:05:07
  Speaker 2: I it was for me, it's we're done. I don't
• 1:05:12
  Speaker 2: have the I don't have the ability to call her back,
• 1:05:16
  Speaker 2: like mentally, I don't have the ability to be like, hey,
• 1:05:20
  Speaker 2: why don't we work things out like mentally for me,
• 1:05:23
  Speaker 2: when we're done, we're done. That's it. I actually told
• 1:05:26
  Speaker 2: her like, like just leave, like choose at my house.
• 1:05:30
  Speaker 2: I said, you need to just leave. She goes, what
• 1:05:32
  Speaker 2: do you mean. I'm like, well, we're done, we're finished.
• 1:05:34
  Speaker 2: You just told me you want somebody who's going to
• 1:05:36
  Speaker 2: take your shopping every time we go out, and I'm
• 1:05:38
  Speaker 2: not going to do that. And she goes, well, let's
• 1:05:40
  Speaker 2: talk about it. I'm like no, bye, Like that's it.
• 1:05:45
  Speaker 2: And for me, I'm everything in my life is like that.
• 1:05:49
  Speaker 2: If I'm done with it, it's like, you know, I'm
• 1:05:53
  Speaker 2: tossing the hand grenade behind me, like we're done, We're out,
• 1:05:57
  Speaker 2: Like I burned the bridge. I don't give myself the
• 1:06:00
  Speaker 2: option to go backwards ever for anything.
• 1:06:03
  Speaker 3: Yeah, I'm running that now too.
• 1:06:05
  Speaker 1: So yeah, I'm really looking forward to doing this conversation
• 1:06:07
  Speaker 1: because I think that's a part of our problem that, yeah,
• 1:06:12
  Speaker 1: we do need to have money set aside just in
• 1:06:16
  Speaker 1: case something goes wrong, and you use properties and things
• 1:06:19
  Speaker 1: in place, But when it comes back to going back
• 1:06:22
  Speaker 1: to doing something you don't want to do. I don't
• 1:06:24
  Speaker 1: recommend that either because you shouldn't. But when you are
• 1:06:28
  Speaker 1: doing something. You should have your your money. As far
• 1:06:32
  Speaker 1: as money wise, you should always have something set aside.
• 1:06:35
  Speaker 3: I shouldn't you make the land. But as far as
• 1:06:39
  Speaker 3: work in a restaurant, no, I would.
• 1:06:41
  Speaker 1: Recommend going back down and starting over again. No, I
• 1:06:45
  Speaker 1: definitely wouldn't recommend that.
• 1:06:47
  Speaker 3: No.
• 1:06:48
  Speaker 2: I mean, if, like I said, if everything I had
• 1:06:50
  Speaker 2: burned to the ground, I've lost everything. All my money
• 1:06:54
  Speaker 2: was gone, my business has gone, everything just everything blew
• 1:06:57
  Speaker 2: up at once. I would recover one hundred percent. I
• 1:07:01
  Speaker 2: would recover. But I would not recover by going to
• 1:07:04
  Speaker 2: get a job. I would recover by doing any type
• 1:07:07
  Speaker 2: of business like anything. If I had to drop down
• 1:07:13
  Speaker 2: and clean gutters out of people's like clean people's gutters
• 1:07:18
  Speaker 2: out of their houses, I would do that. I'm not
• 1:07:22
  Speaker 2: above doing that kind of thing. I mean, honestly, I
• 1:07:24
  Speaker 2: could probably I'd probably make ten fifteen thousand a month
• 1:07:28
  Speaker 2: cleaning gutters if I wanted to go that path, Like,
• 1:07:33
  Speaker 2: I don't know, that's just I had a friend of
• 1:07:35
  Speaker 2: mine a few years ago who he decided like he
• 1:07:39
  Speaker 2: wanted to find a thing where he could be dropped
• 1:07:43
  Speaker 2: into a neighborhood and make what of these It was
• 1:07:47
  Speaker 2: like he wanted to be able to make a thousand
• 1:07:48
  Speaker 2: dollars a day with nothing, no tools, no equipment, no nothing,
• 1:07:54
  Speaker 2: Just like I think, he had like one hundred dollars
• 1:07:57
  Speaker 2: in his pocket. So he actually did this, actually hired
• 1:08:02
  Speaker 2: a helicopter pilot to land him in the middle of
• 1:08:06
  Speaker 2: a neighborhood in southern California. He had nothing in his
• 1:08:10
  Speaker 2: pockets except one hundred dollars, okay, and the goal was
• 1:08:16
  Speaker 2: he had to make a thousand dollars in that day.
• 1:08:18
  Speaker 2: So the helicopter dropped him off at seven o'clock. He
• 1:08:21
  Speaker 2: filmed this. By the way, he filmed this whole thing,
• 1:08:23
  Speaker 2: put it on YouTube, and this is the most funny.
• 1:08:27
  Speaker 2: It was hilarious and it was completely real. This was
• 1:08:30
  Speaker 2: not like some bullshit like scam scheme thing like the
• 1:08:35
  Speaker 2: guy I know did this. He had one hundred dollars
• 1:08:37
  Speaker 2: in his pocket. He hired a helicopter to literally drop
• 1:08:40
  Speaker 2: him in the middle of the neighborhood. The helicopter went away.
• 1:08:42
  Speaker 2: The only people he had with him was a cameraman.
• 1:08:46
  Speaker 2: That's it, just to film the whole thing. And he
• 1:08:49
  Speaker 2: ended up making fifteen hundred dollars for the first day
• 1:08:51
  Speaker 2: cleaning gutters for first day, he made fifteen hundred bucks
• 1:08:56
  Speaker 2: cleaning gutters. So all he did is he went door
• 1:08:59
  Speaker 2: to door knocking on people houses, say hey, I see
• 1:09:03
  Speaker 2: your gutters are full. If you've got a ladder and
• 1:09:07
  Speaker 2: a water hose and a rake, I'll clean your gutters
• 1:09:11
  Speaker 2: out for I don't know what. He charged fifty bucks,
• 1:09:14
  Speaker 2: a hundred bucks or something like that, and he did
• 1:09:17
  Speaker 2: it in a fifty bucks So like I could do
• 1:09:20
  Speaker 2: something like that, but people get so wrapped up and
• 1:09:23
  Speaker 2: like I've got to do the cool new business like
• 1:09:28
  Speaker 2: like no, just go clean gutters, Go go re grass,
• 1:09:33
  Speaker 2: like go you know, clean up trash in somebody's yard.
• 1:09:37
  Speaker 2: Do the ugly things. Yeah, you gotta make money. I'm
• 1:09:41
  Speaker 2: not a I'm not above doing the ugly things. I
• 1:09:43
  Speaker 2: just don't I'm not above having a job. I just
• 1:09:46
  Speaker 2: don't think it would happen. I think it would be fired.
• 1:09:48
  Speaker 2: I don't think. I don't think my mindset would work
• 1:09:51
  Speaker 2: out well in an employment arrangement.
• 1:09:54
  Speaker 1: But you know, I'm looking for But like I said,
• 1:09:56
  Speaker 1: I'm really looking forward to doing this conversation with you
• 1:09:58
  Speaker 1: because you said.
• 1:10:00
  Speaker 3: It in a way that a lot of people don't
• 1:10:01
  Speaker 3: say it. They don't and so I'm really looking forward
• 1:10:04
  Speaker 3: to continuing.
• 1:10:05
  Speaker 1: This conversation on you know this, and I'm going to
• 1:10:09
  Speaker 1: post this because it's just a pre conversation I think
• 1:10:11
  Speaker 1: people need to hear.
• 1:10:12
  Speaker 3: But whenever that time, whenever.
• 1:10:15
  Speaker 1: You're available, I would love to continue the conversation because
• 1:10:19
  Speaker 1: I really want to go into the depth of doing
• 1:10:22
  Speaker 1: things that are expected versus doing things that we love
• 1:10:25
  Speaker 1: as far as not only in business, but also you know, personal,
• 1:10:28
  Speaker 1: and also.
• 1:10:30
  Speaker 4: Going forward and remaining forward and remaining on our paths
• 1:10:33
  Speaker 4: versus going backwards, because like you said, you can't go
• 1:10:36
  Speaker 4: back because going back to what what are you going
• 1:10:39
  Speaker 4: back to the same artificating?
• 1:10:42
  Speaker 2: So all right, cool, I'm looking.
• 1:10:45
  Speaker 3: Forward to it.
• 1:10:45
  Speaker 1: So I'll send you the link and then we can
• 1:10:47
  Speaker 1: go from there, and I'm looking forward to it.
• 1:10:50
  Speaker 2: All right, nice chat with you, take care of have
• 1:10:51
  Speaker 2: a good one you too.
• 1:10:53
  Speaker 3: But I