Essential Business Strategies for a Record Label

give me a business name something completely random a record label you want to start a record label so record label what do you have you have this is completely on the fly record label so let me wipe my board this is completely on the fly unprompted we're testing my business genius for the hustlers university let me clear my beautiful diagram here right so how does a record label make money make we have make and we have costs so record label makes money by selling records correct i've never run a record label so i might be wrong so you have to sell records now a record label is a digital product so it's actually harder to make up because how can you sell records you don't have so what i'd be looking to do first thing is test my distribution channels so costs you need to find records you can instantly supply unlike a makeup company so you define artists which are i wouldn't say struggling but there's certainly you need to go out there and find some artists which don't want money up front so you need to work out some kind of commission deal with artists and say look we're gonna give you x amount on the base of the sales just to find we're gonna put broke boys because it doesn't you know what at this point especially with a record label although you need good quality artists to have a good reputation as a record label if you have [ __ ] ones at the beginning it doesn't really matter if you have uh some [ __ ] ones and you sign rihanna later on is it gonna be like oh they have rihanna now but three years ago they had that crap band no one's heard of they they're gonna care it's not gonna damage your reputation so at this point you can just get broke boys get broke boys offer them a commission deal to make just to to try and sell records so let's say we're selling a record for a pound let's say it's a 50 50 split 50 50. now you've got distribution channels how you going to sell the records where you're going to sell them apple music spotify whatever whatever you have to test the distribution channels test them out test out an independent distribution channel so let's say you do all the traditional distribution traditional stuff and let's say you want to try and sell some stuff independently so let's say you start a website or you go on is myspace still leaving a thing for music no it's what's the other one yeah so there's a few other abstract ways you can try and sell money you try and sell records let's say through their own website or through soundcloud through some of the other ones you can try some abstract methods now here's what i would do i'm running a record label i find broke boys broke boys agreed to go a 50 50 split i promise to sell loads of records you have to promise this is your job so i promise to sell [ __ ] hundred thousand records a month some [ __ ] i promise i'd lie this is what i do all the time no big deal 100 000 a month easy easy easy i'd get them i'd put them across all the distribution channels i'd see how much so many we sell if we don't sell any do you know whose fault it is the broke boy's fault i'll come back to him and go okay well yeah we have two of your songs it's not enough people don't know who you are we need to produce some content so to raise your profile i don't know if you guys have any videos of you performing live we need more music we can put out there and i will just continue to extract from the broke boys more videos more songs all for free all based on a commission deal and just put it out there speed just like we said in number one like i said i've never done a record live in my life just come off the top of my head speed give me more give me more give me more the more they produce the more they give you and the more you put out there it doesn't matter if you sell a little bit of each you're gonna start to make money look at what we do and what i do all my different businesses at this moment i run cobratech.com i have the war room which is a business in itself i have the webcam business i have two youtube channels i have casinos i all i do because it's just scat just a speed scatter gun so in this kind of particular if you want to do a record label you need to have as much as much as possible video and and music that you can that you can afford when i say afford a commission only deal just constantly constantly put out their speed on every single possible distribution channel that's what you need to do then what you do is when you have these boys everywhere broke boys the broke boy record ban you have them everywhere and you have tons of their stuff then you can approach someone who's not [ __ ] or a little bit better so we have the less broke boys less broke all right here my terrible writing because i'm writing at an angle and when you go to let's broke boys you could say well look at the broke boys we've got them on spotify soundcloud they're on their own website selling they're here they're on itunes they're there look at this this is some videos that they're performing yeah we use these for promotion they're on this youtube channel they're on that youtube channel the less broke boys were like oh these guys they actually got them a lot of promo what did you really do all you did was extract it from these guys now the less broke boys might want to work with you maybe you don't give them maybe there's a slightly better commission deal maybe they get 60 you get 40. take their [ __ ] before you know you're gonna have a catalog of stuff so people go who's this record label you go well bang and you type any of those bands in and they flood the internet with things now you're a real record label now and now new bands up and coming bands want to work with you just because they're not a promo you put them everywhere one of these up and coming bands might be the next big thing who knows all i've done in this business model i don't know anything about record labels all i've done is stick to my tenants of business one this is free this is free this is running a record label from your bedroom doing all this is some work on your computer putting them on itunes and making a website whatever whatever that's all [ __ ] free negotiate with the broke boys you can do at a cost of coffee or a starbucks so that this is a free business i've just given you one it's free two we've prioritized money in the first thing i wrote is how do we make the money how do we make the money we sell records okay so we need this we need this we need this proton's making the money and the third thing i did was speed quickly get out get out get out tell the broke boys to make more tell the break boys to start a daily vlog of them recording a daily vlog of what it's like in the band start putting out on a youtube channel speed speed speed more more and more give me give me content content non-stop speed all i did was stick to my three basic business principles now imagine you try this for six months and it doesn't work have you lost money no what did you lose you didn't have a big fancy office you didn't lose nothing what's the worst that could happen what's the worst that can happen nothing and that is the exact point i'm trying to teach here if you stick to these three tenets in nearly any business you'll launch it for basically nothing and nothing can go wrong nothing can go wrong point four let me clear my board i'm gonna get some hot chick like sit here and wipe the board factor me message of female right now sorry bear with me let me uh get a member of staff right point four staff now this is gonna be a controversial one but bear with me if you're watching so far you should have learned a lot because we're just getting [ __ ] started we have a hundred business points to go through we're on number [ __ ] three number four family and friends are actually the best staff you can possibly get now people say don't mix friends with business don't mix family with business can you clean my board sit here and wipe it please don't mix friends the business get that [ __ ] off don't mix friends with business don't mix family with business that's a lie so the reason people say this is because people are [ __ ] and they can't get along with anyone they're not they can't get along with anybody long enough to make any money but i guarantee you have family members right this second who could make you money i guarantee you you have a 15 year old niece nephew cousin brother whoever who knows more about computers than you do i guarantee there's a 15 year old out there with nothing better to do who knows more about photoshop than you do right now his stupid ass needs a job so you can start a company right now you can call up all your cousins one of my cousins works for me my brother works with me when your cousins nieces nephews whatever some 15 16 year old who's in school and bored and say we're starting a company i'm gonna make you a director you're gonna have ten percent of the business you're gonna do everything i say and by the time you're 20 you're gonna be rich not bad seven out of ten you're gonna be rich and he'll come start doing work for you now if you if he won't listen to you well then i don't know if you can't tell a 15 year old to do then you're a [ __ ] but me i always have people i can call on there must be younger people don't you don't need some old person you need young people and the reason for this is because young people have nothing to lose if you hire a 30 year old man he has to pay his rent he hasn't got time to waste he has rent to pay he has a car payment to pay whatever a 15 year old he has nothing he only doesn't play video games so if the business fails who cares he has nothing to lose so why don't you utilize him you must have friends or family members who are young enough in a position that they have time to waste don't hire people who can't afford to not pay their rent hire people who live for free if you have friends and they have a kid go to your friends and say your kid's 15 he's good with computers yeah i'm thinking of starting a company i'm thinking of letting him work with me for free at the beginning see if he's good maybe he's good i'll start paying him they'll love that they'll love the idea of their son or daughter getting some enterprising work yeah good idea what's the business name bang there are free effectively free workers everywhere and if they're not free they're extremely cheap and they're everywhere you just don't utilize them so now let's think of [ __ ] you own a website business i don't [ __ ] know website business let's say you don't know like you're me i don't know anything about building websites you want to start a website company it's oversaturated i wouldn't recommend it but let's say you start one you go you find a 15 year old you tell his ass learn how to make websites she convinced him it's a good idea and then you start taking money and you give them you give it to the 15 year old you're a middleman now a 15 year old works for free you can do websites cheap now you can do websites for 300 bucks i'll do an entire website for 300 half now half when it's done people like 300 for our website yeah 150 bucks now everything's done take 150 bucks give 50 bucks to the 15 year old tell him when he's done he gets another 50 bucks 100 bucks for him 200 bucks for you you ain't done [ __ ] boom wham bam done he could even start your company website for advertising to be getting for free bang you have free workers out there find young people because young people can afford to work for [ __ ] nothing you trying to find members of staff that have mortgages and [ __ ] pension plans that's expensive the best staff you can find are young people and in most cases young people know more than the old people anyway especially about technology and stuff young people are fantastic i love hiring 18 19 year old kids they know [ __ ] more than me about [ __ ] tick tock instagram all the blah blah all the [ __ ] that's big they know more than me i'm 33 i'm not even old these kids are sitting there going we need to do this and this and this i'm like go then they're like how i'm like how long is it going to take like a week i said no it's be ready tomorrow tomorrow show me it done don't piss me off go speed back to lesson one bang so you already have workers for your business you already have them you just don't [ __ ] use them because you're lazy so contact them right now let's get started i apologize for the change of face but andrew has invited me here to talk about another very important point when it comes to making money which is work with family when possible that's why i'm here now it's very easy for people like me and andrew to tell you to work just with family members because we're two brothers and we're exceptionally close but we actually learned this from other people me and andrew have always been best friends but we used to fight and argue when we were growing up and when we were 16 17 we worked in completely different let's call it fields i mean we worked different jobs we weren't actively putting our resources together and trying to make money we had some friends who were pakistani guys from the united kingdom and they taught us a very important lesson one of our friends i won't say his name but he had a ferrari and he used to drive it around our hometown and we were very impressed and we said well you know how do you have this ferrari because he was only a lawyer a junior lawyer making maybe 50 000 pounds a year a good income but not a ferrari income and he told us he said you english people you white people actually he said mixed race have it all wrong i have six brothers and what me and my brothers do is this one of us is a doctor one's a dentist one's a lawyer one's an architect we're all in different fields what we do is we live in the same house our wives live with us our wives cook the meals and look after our children and we pull all of our money together that way we own the house instead of renting six other houses i thought that's pretty clever and what about the ferrari they said well a ferrari finance payment is 2 000 pounds a month more than me on my own however i don't drive the car all the time so me and all of my brothers we bought these finance agreements for the ferrari our range rover and our rolls royce and we all drive them whenever we want i thought wow that is smart that's a conversation that got me and andrew thinking at a very young age from that point on whenever we were renting a small apartment we'd rent it together rather than pay two separate rents property prices in england were still too expensive for us to buy but uh when we worked together when we were looking at making money we thought how can we do this together and everything from there went into a single pot up until this day we're multi-millionaires we share bank accounts i don't know what's in whose account under what name which house which car is owned by who i mean i know on paper but it doesn't matter because everything is collectively owned now it doesn't matter so much me or andrew could go our separate ways buy our own family home and have three supercars each if we wanted to but we don't you see when we were much younger our first ever supercar was an aston martin vantage an old one cost us 65 000 pounds secondhand wasn't the most amazing car but we paid for it the both of us that way we had a supercar for both of us to use the money we saved we put into business the other activities we were doing and that helped us propel forward to the point we're at now so sure it'd be easy to divide resources and split now but why am i going to reach the next level faster if i do that no so now i live in a seven bedroom house my driveway is full it's got six cars on it i actually need to extend it uh now because andrew won't stop buying cars but that's fine by me always work with family now my cousin from the united states is in a very lucky position he's now living here in bucharest he works with us and he essentially works with us forever as long as we're making money he's going to be here and he's part of the team when i first met him he was five years old i didn't see him again until he was 19. now when he was 19 he was smart he had all going on but he was a bit privileged his mother was a very well-to-do woman a best-selling author uh on the in the field of political science and a university professor and he was at university everything was getting paid for him i thought okay you know he's not from the same world as me but then things started going wrong for him he was uh sleeping on the floor delivering pizzas living the kind of life i remember so after two years of what i call the struggle i thought okay it's time to bring luke back in and luke is now a member of our team as he is a member of our family now i understand not everybody has brothers not everybody has cousins you may be an only child you may be an orphan i don't know what you are but everyone's got those people those people that are so valuable to you that you wouldn't stab them in the back for a billion dollars and a thousand women those are the people you want to work with as long as you are sure that they share your sentiments those are the people you want to team up with pool your resources live in the same house if you're broke if you're both working dead-end jobs rent one room together if need be if you're good friends if you meet a woman tell them to take a walk for an hour and come back that is the one of the keys to my land your success lesson five command respect now what i want to do in the 100 points this hundred tenets of business is i don't want to talk too much about the fluffy [ __ ] that all the other millionaires talk about and teach because what they're really doing is copping out so it's very easy for tai lopez who has no real business skill tai lopez doesn't know anything about business to say you get rich by reading books because it sounds easy then everyone goes oh really okay i'll read but it sounds easy but it's not true and think positive you'll get rich that's not true either but some things are true and number five this is true command respect this is true so i'll give an example we're gonna go back to dan the t2 guy so i still talk to dan sometimes now and he's a good guy he's got a good heart but he just loves drugs some people do one of the reasons i'm good at business is because i command respect and i command respect because i'm a physical specimen of a man this is the reality i'm a professional fighter so this helps me whether i'm running my webcam girls or whether i was pitching television advertising there's a level of respect humans have for other humans who are a physical specimen dan is a big black guy the way dan sold an act acted and treated staff he could get away with that he couldn't get away if he was an obese white guy because there's something evolutionary about humans and if you're a person who's viewed as strong people respect you and people trust you if you want to run a business and you want people to spend money with you then one of the best things you can do is go to the gym tell you the truth get in [ __ ] physical shape and people will see okay well he's obviously not afraid of hard work he's obviously disciplined there's some things that are spoken without being spoken there's a word for it that'll come to me and having a physical presence is one of them it helps in business every possible way if i stand up when i used to stand up to sell tv advertising in front of people and say i guarantee you you spend 19 000 with me i guarantee you you spend 19 000 me you get double back when they see your product on tv a product like this is gonna sell do you sell online yeah where else do you sell tesco sainsbury's oh you're in the superstores as well you were gonna make twice your money back guaranteed if i say that as a big strong guy who they could tell obviously trained really hard was disciplined was was not afraid of hard work that was more valuable than if i was a fat piece of [ __ ] it's gonna work i'm like well what the [ __ ] do you know you see pizza you don't know anything go to the gym command a physical presence i'm not saying you have to beat anyone up i'm saying if you command a physical presence your words have more weight and it helps in business across all things everything i know webcam girls is a very unusual business and none of you have probably run webcam girls but i learned a whole bunch about business running my webcam girls in fact i approached my webcam girl business the same as i approached every other business with the same tenants i started it for cheap with a laptop i already had and the girlfriend i already had i found out how to get the money in before i find out how to produce the videos i had people sending me money for these feature length porn videos i couldn't even produce them i didn't have a [ __ ] camera money first all my same things speed quickly get everything produced quick quick quick i did all the same things with all my businesses but the reason i could have so many girls listen to me is because i'm me and i'm me because i'm big and strong i'm entertained so if you want to run your business do not neglect physical presence now you can be successful without physical presence there's a whole bunch of dorks who are successful but i'm talking about what i know about business and what i've learned this is the hustlers university and what i'm saying is it will help you even if you're bill gates and he was super successful and he's a dork he would have been more successful if he was a big strong dude it's never gonna detriment you to be bigger and stronger in life and whether it's in business and every other aspect of life being bigger and stronger and commanding physical presence will always help you it shows discipline it shows that you understand hard work and it makes your word more valuable and sometimes in business all you've really got is your word you have to promise people [ __ ] and they have to believe you so if you do that as a big strong dude people just believe you more this is just a harsh reality this is the hustlers university i told you it's no nonsense there's no garbage if you want to run a company start going to the gym get big get strong it's gonna help you make money sooner or later i guarantee you it's gonna help you make money this is point five don't neglect it because it's very very true even if it only helps you ten percent ten percent is a lot ten percent's the business the ten percent is the difference between success and failure ten percent is the difference between a little bit of money and a lot of money ten percent is a huge difference if you're if you're selling let's say you're selling a million dollars a product and you've got a 20 margin that's 200k if you had an extra 10 margin because you're the big strong guy and you got 300k bang that's an extra 100 grand a year that's a [ __ ] 911 that's a porsche there's a big difference it's a big difference so do not neglect number five because it's real check the guns would you and here let me prove the point would you have bought this course you bought this course because i'm entertained you trust me you've obviously looked at me and you go you know what i've said about this guy he knows something i trust him would you have still bought this course if i was morbidly obese genuine question i know it's an extreme this question if i was morbidly obese in my chair and very very fat i'm gonna teach you about business would you have bought the course or would you thought [ __ ] you fat [ __ ] you don't know nothing and if you're honest with yourself you'd think yeah you're probably right i wouldn't have bought from you if you're obese so that's the extremes i'm a professional fighter obese these are extremes but the extremes prove the point the closer you are to a good physical condition the more likely you are to be respected and the more likely you are to be able to say things and people believe you so get in physical shape that's point five commanding respect is always always gonna be able to help you throughout life especially in business point six resell the people you've already sold to it's the easiest money you'll ever make so in t2 television when we because obviously we knew we weren't making money when [ __ ] was getting hard what we do is we were selling these 18 19 grand deals and one of the reasons we survived so long is we get people to sign up pay 18 19 grand make their advert show them their advert hope they loved it and if they love their advert then we try and sell a bonus airtime package we come at them and say by the way we've got a really big purchase coming up from mcdonald's some [ __ ] and we're getting airtime extremely cheap and for only an extra five grand we can get an extra 100 spots on tv some garbage some [ __ ] and try and sell them this extra package and this package had some profit in it for us the spots we'd given would be in the middle of the night cheap [ __ ] and this was our only chance to make any profit so they said no to this we did all the work for effectively nothing they said yes we'd make we'd sell it for five and it was like four grand profit that's how we were surviving so if we tried to put that in at the front end and sell 24 25 grand packages we couldn't sell it but if we sold about 19 and then tried to upsell them later we had about 60 70 upsell rate if people like their advert so the easiest money you'll ever make is selling to people who have already bought from you before as long as you relatively fulfilled your deal so we we did it after the advert we didn't we never tried to sell it to them before they saw the advert because then it was much harder to sell so if you do a good job or a half good job the best customers you're gonna have here have are people who have already bought from you before you should already know this about business this is a very easy one but it is so much easier to sell to someone who's already bought from you than it is to sell to someone new a lot of you watching this may have already bought something from me before congratulations you must know a lot of [ __ ] but it's very very important it's very very true so i get a lot i know a lot of people with a lot of different businesses and they all call me up for advice and one of the first things i had a guy called me up about two months ago and he was saying he's struggling for cash he asked me to borrow money and i said i won't say who he is or what his business is because you'll know some of you will know so to protect him i was like well okay how much you need he's like 200 grand so how many customers do you have because all in all we all know how many customers are on your database you guys are about ten thousand like bro there's your 200 grand put together a [ __ ] email campaign do a huge discount don't let you don't have to let it leak out into the public let them pay full price these people have bought from you before put it all together pow and blast it out there's your 200 grand what do you need me for these people have bought from you before and you delivered there's your money your money's sitting right there go get it so easy to sell to people who have already bought from you before you did a half good job in business you don't need to sell to tons of people if you can sell to the same people over and over again and it's much easier to sell to the same people over and over again than it is to keep finding new people keep that in mind especially during times when you need cash or you're trying to raise cash or you want to increase cash flow the first thing you should do if you have a company and you're making a bit of money making a little bit of money and you go you know i want to make some more what can i do don't look at advertising more don't look at getting new customers don't look at a new product launch the first thing you should do is go is there anything i've already got that i can resell to people who have already bought from me and that is the easiest money you're ever going to make don't forget that because you'll need that a certain point in your business career you're going to need to be able to pull that ace out your sleeve and generate money from thin air keep in mind that's point six right point seven this is another one that goes back to point two and point three but this is really important don't get legal before you get rich this is super important we're talking about hustling here i'm telling you the hacks to becoming rich do not get legal before you are rich you can fix your legal [ __ ] when you've already made money it's a shame i've deleted my or erased my beautiful makeup diagram but it's very sim similar to what we were saying earlier i know so many people who have registered a company registered for vat registered with the tax man i already have an accountant and haven't made any money yet i in most of my companies will make a million dollars before i'll even consider [ __ ] around with a tax form talking to an accountant or registering any [ __ ] companies all that [ __ ] is on the later base until you have proved the viability of your company and you have money coming in when you're rich and you have money in the bank then worry about that stuff do not waste your time energy and money doing all that legal crap before you know anything about whether your business is going to work or not don't do that it's the it's it's counterproductive and it's expensive and it's a time sync if every time i had to start a company or an idea i had to go register a company get an accountant do tax forms do vat forms what a waste of time i've started maybe 100 companies in my life 20 of them made money you tell me 80 times i would have had to [ __ ] around don't do that i know so many people who have a company legally but don't have a company in reality because it exists as a legal entity but it does not provide cash a company provides cash if you're a street drug dealer you own a company much more than the guy with all the legal entities which ain't making money do not we're hustlers here this is the hustlers university do not confuse this money in what's the lessons i've been teaching you money in where's the money in legal [ __ ] is a cost we're not interested in costs until we've seen the money in do not get legal before you get rich you do not need any legal [ __ ] you need a website a domain name and you that's it you do not need any legal [ __ ] before you get rich don't make that [ __ ] mistake the reason people do that is because it makes them feel better it makes them feel better because then they feel like they have a company so people go i want to start a company they don't know what to do and they don't know how to make money so they think well if i spend money and set it all up legally then it's then i've got a company then they feel better inside like they've achieved something when really they've achieved nothing because they're still not making money don't fall into these traps so you can walk around tell everyone you have a company because you've spent money anyone can spend money making money is hard spending money is [ __ ] easy do not do that vanity i own a company on paper garbage [ __ ] all that off until money's coming in the bank do not get legal before you get rich extremely important point nine use what you got so this comes down to one of the ideas for how what idea of a business to run so i just gave you the example of the 15 year old cousin who can make websites now you have a website company or your 15 year old cousin who can do i don't know [ __ ] who knows what he can do he can mow lawns every 15 year old can mow lawns now you have a lawn mowing business bang tell his stupid ass to go deliver some flyers drive him around your car play some two-pack chill out in your car text some [ __ ] drive it five miles an hour let him drop off all the leaflets and then let him know all the lawns you collect all the money and just pay him a percentage bang you now own a lawnmower lawn mowing company congratulations use what you got i made a lot of money with webcam girls if you're watching this you don't know that webcam girls you can go to chatrebate.com you see girls on there on webcam getting naked talking to dudes taking money that made me millions and millions of dollars i came up with that idea by sticking to this principle use what you've got so right now if you're sitting there make a list of everything you have and i mean everything you have a house say it's rented you have a car it's on lease you have uh physical strength let's say you're a strong guy when i was making my list i was writing everything down i was like well i've got six girlfriends six girlfriends so okay strip how can girls make me money strip club but that takes money to set up remember costs money in strip club i cannot i cannot get money in in a strip club without a club so i looked at all the costs for a strip club and realized it's too expensive before i could get money in it's too big a risk remember there's too much risk i can lose 3 400 grand can't risk that how can i get money in how can i get money in for having hot girls without spending money out so my first idea was strip club but i looked at all the costs i was like okay so how why do men send why do men spend money on girls in strip club because the girls are beautiful they get to look at the girls see some titties that are how can i do that without the club well the internet if i put them on the internet it's cheap this is literally how i thought i stuck to my business principles okay it's cheap start looking up bound discovered the webcam websites all right so i've already got the girls i've already got a laptop i've already got the internet bang the day i had the webcam idea the same day i was making money i didn't spend any money but i was making new money because i refused to allow myself to spend then i started making new money in with the webcam because i knew i had the internet i knew i had laptops i knew i had girls use what you've got look around you what people do you have does your old mother need a new job maybe she's at home and she's bored and she wants to maybe she'll mail things for you i don't [ __ ] know do you have cousins nieces nephews do you have a girlfriend who has nothing to do use what you have people things you have make a [ __ ] long ass list and you'll start thinking of ideas business ideas and they're gonna come to you like the strip club came to me but then you're gonna sit there and go okay this is a good idea but i can't afford that but then you're gonna go back to the other lessons i've taught you okay this is how much it would cost to set up that way but how can i get the money in that this would generate without all the costs and if you do that and you sit there with a piece of paper and you write everything down and you stick to the principles i've taught you so far about how to start businesses you may find a business you can start for a couple grand you've already got your staff a couple grand you got an idea you try it doesn't work lost a couple grand does work bang you're rich that simple if it starts to work speed speed speed speed more and more and more less than one it's really not that complicated this is how hustlers get rich it's really really simple so use what you got a lot of you already have things you can use you just don't use them uber is another one man uber is a [ __ ] perfect one so i know uber doesn't pay very much at all i know that but you know what everyone loves to do when they first get their driving license drive maybe you have a 17 year old cousin or some [ __ ] he's just learnt to drive get his ass on uber rent a car find a way to rent a car with unlimited mileage per month tell him he's going to do 10 hours of uber a day to train how to drive lie to his ass and say that you in the uber app you can track and make sure he ain't breaking the speed limit so he drives safe put his ass on uber pay for his gas and keep and give him half the money and keep half of yourself bang done set him up get him ready this this is [ __ ] i didn't plan i'm just telling you things off the top of my head because this is how i think as a hustler i don't i don't need to sit and think i just know there's money and i find a way to get the money that's how i am so right now you've got cousins out there who aren't driving uber if you can convince them to drive uber well then why don't they do it without you easy you can talk some [ __ ] make some [ __ ] up hey have you got an uber account no i'll set it all up for you because it's complicated and there's some tax i'll handle the tax don't pay no tax just lie blah blah blah get them an uber get them in cars bang bang bang take the money done what are you waiting for use what you got you've already got people there's cars there's things happening you're just not doing anything look around make a full list of what you have stick to the business principles and find a way to get money in without spending money out and you won't lose that's what i did with the webcam company and it made me millions of dollars millions i ended up with huge numbers of girls all because one girl i started with one girl made money bought another laptop got another girl two girls made money bought a bigger apartment three girls four girls five girls bang bang bang bang before you know i had a [ __ ] empire of women because i stuck to my business principles i never i never spent money i didn't make first i never for my webcam company which ended up generating over seven million dollars i never once ever spent money that i hadn't made i didn't spend a dollar out of my pocket that i hadn't already made first from the webcam company i started that from zero just like i started my advertising agency zero and this is why when people come to me and go i want to start a business i need an investment i sit there and think you don't know about business because if you knew about business and your idea was really good you wouldn't need my money you'd pull it off for zero if you're talented and your idea is good you don't need money so if you can't make it work for xero or for very little then it probably wouldn't work anyway and you just lose a whole bunch of money because if it would work if it's a good idea and it will work then money will start coming in fast and you'll have the money you need if no one's sending you money in to give you the money you need then the idea doesn't work anyway so if i put these hoes on right hoes i take that back it's horrible if i put these chicks on cam and no one was paying them then they weren't hot enough to be in a strip club were they luckily they were i know my girls are hot it's just an example this way i get to find out if they're good enough for free this way i get to find out if they're good enough for 2 300 grand think about it use what you've got you've already got shout there you're just lazy point 10 staff i know a lot of people who are starting companies or they want to start business and the first thing they say is i need an assistant or i need this or i need that member of staff staff need a clear objective so here is the very simple magic rule for staff staff either make you money or save you time that's a clock in case you're wondering or you don't need them so a salesman a sales staff will sell things and bring money in you'll be able to sit there and see exactly each week how much money that member of staff made you and you'll be able to make sure that he made you more than he cost you fine other members of staff are going to save you time even if it's a general assistant or pa you'll be able to see the time saved with the tasks they've given and you need to be able to sit down with a piece of paper once a month once every couple weeks whatever and audit your staff staff member how much money do they make how much do they cost positive or negative staff member what tasks did they complete how much longer from my life would it take in me to do those tasks is it worth the money because if you could have done those tasks in your free time where you spent watching tv then you don't need that [ __ ] member of staff fire them and save the cash you have to audit your staff very specifically by this method they either save you time or they make you money or you don't need them now anyone who's worked any kind of job knows if you go into any kind of company most people are doing nothing i've worked so many jobs and everyone did nothing in fact i had a job at a company selling advertising after i left the after t2 failed i got a job at another company selling websites and all this kind of advertising and i spent three of my five days a week reading wikipedia because i didn't care because i had a basic and it was enough and i was and by then i was training to be a world champion i was tired all the time so i didn't give a [ __ ] and no one called me up on it no one noticed three days a week i did nothing but read wikipedia pages because i couldn't access facebook it was interesting that is literally the level of laziness most people experience if you take out coffee breaks cigarette breaks chit-chatting in the office most people do [ __ ] nothing i'm very sure you could fire 50 of the people in nearly any company and the company would be just fine if the other 50 did some real work everyone's lazy big companies are inefficient because they haven't got time to do this but you're not gonna have a big company you're a hustler you're gonna have a few members of staff you're gonna make millions of dollars and you're gonna make sure that either making you money or they're saving you time now the amount of time they're saving you isn't enough or they're not making enough money to cover their wages they gotta go there is you gotta be ruthless in this game but this is how staff this is the magic formula of staff so when people say to me i want to start a company i need a assistant i see an assistant to do what oh just to help me with things what things what things will they help with how long do those things take how much time is that going to save you and why do you not have the time to do them yourself because you want to watch tv because you need to relax because you're afraid you'll burn out shut up it's garbage it's all garbage you want to feel important and tell someone what to do that's not how you get rich this is the magic staff formula do they make me money do they save me time write it all [ __ ] down work it out and if it ain't good enough they gotta go simple that is how you manage staff because i get asked so many questions about staff making money save me time done another thing that's important with staff is you have to teach staff your business ethics so whenever i have a member of staff i've argued with staff plenty of times because everything must be done quickly but that is how i work that is how i want them to work now i am a hundred percent certain that even if it's only by one percent the fact that i am uncompromising in the fact i want things quickly things get done quickly or quicker if i didn't say anything it may take 10 seconds if i complain it may take nine seconds it may only be a tiny saving but that is how i work that is how the people i work with i want them to work speed is everything so when you get new members of staff on board as well make sure they understand your business principles especially number one because that is your business mantra speed so if you have a salesman and he's selling and he's doing fantastic that's good you can sit him down and say you know what you're doing a fantastic job you're making lots of money i'm very very proud of you look you're making this this this this you've done really well daddy you're making target so only one thing i want to talk about how quickly you work i'm like what do you mean i'm hitting target yeah you are hitting target but when you're inputting information to the system i think we can get that done quicker there must be a faster way we can get that done free up his time if he does things quicker he has more free time to sell more products he'll make more money speed no one ever works fast enough when i was fighting jab cross the basics is never quick enough it has to be quicker has to be quicker in fighting there's no such thing as too quick everything must be faster all of the time it's the same in your business all of the time faster all of it all the time if your assistant is saving you time if they work faster they save you more time because they have more time to do more things to save you time faster all the time so even if they're both performing you still have to re-incentivize and re-illiterate point one point one is super super important if you do that you're gonna get more active staff more money's gonna be made more work should get done it's better for everyone as a whole i learned this business i learned this we're gonna come i'm probably some of these points will overlapped but before television i worked as a fishmonger when i was 15 was my first job and i used to carry boxes of ice and uh fish at six o'clock in the morning on the market [ __ ] job in the middle of winter carrying ice six in the morning is minus five it's horrible your hands are shaking it's a horrible job and i got paid no money but i did it because i wanted money so if i'll do that at 15 your 15 year old nephew will make a [ __ ] website so i used to get up at five run from where i lived in luton to the town center market run because i didn't have a [ __ ] car work 10 hours and then run home that's how much energy you have when you're young that's what i did and the person i worked for was my uncle my uncle worked there his name was keith and he always used to tell me faster faster faster faster and i was always trying to move these bucks of fish as quickly as possible and one when i was moving all the boxes i'd say yeah but if i finish it all what's the rush i'm here until five o'clock he goes no no faster faster faster he'd always push me to finish and then if i finished everything i'd have maybe three hours left if i if i walked it would take me to 10 hours if i ran like crazy it would take me seven hours so i'd have three hours spare i say now what do i do he goes there's always work to do find work to do what do you mean find work to do because find work to do fine if i see you standing around i'm gonna get angry find work that's what you used to say i'd end up sweeping the floor or wiping the walls cleaning the walls some dumb [ __ ] but he was right i'm gonna come to this point later on if you do things quickly you have more time to find work to do and finding work to do adds up i swept the floor i wiped the walls maybe someone came in saw the nice clean pristine walls and bought some fish they wouldn't have otherwise bought if there's a tiny mark on the walls who knows the point is the work got done quicker because i was being pushed to be fast it got done and then more work happened even if it was menial work more work happened in the same time frame more work got done that made me more valuable as a staff member that's how he valued me you've got to be the same right that's the first 10 lessons we have 90 more the first 10 lessons of the hustlers university i bet you're sitting there already and your mind's blown you're sitting there like whoa i've learned so much i didn't think of it that way tate you're a genius i know i know we have 90 more we've just begun if you've watched this video once i recommend watching it two or three times these things need to sink in like second nature to you you need to be able to recite them one by one we've talked about how you start companies what you're prioritizing a company how you make sure everything's done quickly and why that's so important how you manage staff how you find ideas to relaunch companies what members of staff you can get we've covered all this in the first 10 points this alone is enough this alone is worth the value what i've taught you and we've just begun the first 10 points to the hustlers university if you watch this video i recommend you watch it two or three more times before you even move on to number two if you want to move on to number two do it but you need to pay attention to these because they are the basis of everything i'm going to teach you here on after

give me a business name something completely random a record label you want to start a record label so record label what do you have you have this is completely on the fly record label so let me wipe my board this is completely on the fly unprompted we're testing my business genius for the hustlers university let me clear my beautiful diagram here right so how does a record label make money make we have make and we have costs so record label makes money by selling records correct i've never run a record label so i might be wrong so you have to sell records now a record label is a digital product so it's actually harder to make up because how can you sell records you don't have so what i'd be looking to do first thing is test my distribution channels so costs you need to find records you can instantly supply unlike a makeup company so you define artists which are i wouldn't say struggling but there's certainly you need to go out there and find some artists which don't want money up front so you need to work out some kind of commission deal with artists and say look we're gonna give you x amount on the base of the sales just to find we're gonna put broke boys because it doesn't you know what at this point especially with a record label although you need good quality artists to have a good reputation as a record label if you have [ __ ] ones at the beginning it doesn't really matter if you have uh some [ __ ] ones and you sign rihanna later on is it gonna be like oh they have rihanna now but three years ago they had that crap band no one's heard of they they're gonna care it's not gonna damage your reputation so at this point you can just get broke boys get broke boys offer them a commission deal to make just to to try and sell records so let's say we're selling a record for a pound let's say it's a 50 50 split 50 50. now you've got distribution channels how you going to sell the records where you're going to sell them apple music spotify whatever whatever you have to test the distribution channels test them out test out an independent distribution channel so let's say you do all the traditional distribution traditional stuff and let's say you want to try and sell some stuff independently so let's say you start a website or you go on is myspace still leaving a thing for music no it's what's the other one yeah so there's a few other abstract ways you can try and sell money you try and sell records let's say through their own website or through soundcloud through some of the other ones you can try some abstract methods now here's what i would do i'm running a record label i find broke boys broke boys agreed to go a 50 50 split i promise to sell loads of records you have to promise this is your job so i promise to sell [ __ ] hundred thousand records a month some [ __ ] i promise i'd lie this is what i do all the time no big deal 100 000 a month easy easy easy i'd get them i'd put them across all the distribution channels i'd see how much so many we sell if we don't sell any do you know whose fault it is the broke boy's fault i'll come back to him and go okay well yeah we have two of your songs it's not enough people don't know who you are we need to produce some content so to raise your profile i don't know if you guys have any videos of you performing live we need more music we can put out there and i will just continue to extract from the broke boys more videos more songs all for free all based on a commission deal and just put it out there speed just like we said in number one like i said i've never done a record live in my life just come off the top of my head speed give me more give me more give me more the more they produce the more they give you and the more you put out there it doesn't matter if you sell a little bit of each you're gonna start to make money look at what we do and what i do all my different businesses at this moment i run cobratech.com i have the war room which is a business in itself i have the webcam business i have two youtube channels i have casinos i all i do because it's just scat just a speed scatter gun so in this kind of particular if you want to do a record label you need to have as much as much as possible video and and music that you can that you can afford when i say afford a commission only deal just constantly constantly put out their speed on every single possible distribution channel that's what you need to do then what you do is when you have these boys everywhere broke boys the broke boy record ban you have them everywhere and you have tons of their stuff then you can approach someone who's not [ __ ] or a little bit better so we have the less broke boys less broke all right here my terrible writing because i'm writing at an angle and when you go to let's broke boys you could say well look at the broke boys we've got them on spotify soundcloud they're on their own website selling they're here they're on itunes they're there look at this this is some videos that they're performing yeah we use these for promotion they're on this youtube channel they're on that youtube channel the less broke boys were like oh these guys they actually got them a lot of promo what did you really do all you did was extract it from these guys now the less broke boys might want to work with you maybe you don't give them maybe there's a slightly better commission deal maybe they get 60 you get 40. take their [ __ ] before you know you're gonna have a catalog of stuff so people go who's this record label you go well bang and you type any of those bands in and they flood the internet with things now you're a real record label now and now new bands up and coming bands want to work with you just because they're not a promo you put them everywhere one of these up and coming bands might be the next big thing who knows all i've done in this business model i don't know anything about record labels all i've done is stick to my tenants of business one this is free this is free this is running a record label from your bedroom doing all this is some work on your computer putting them on itunes and making a website whatever whatever that's all [ __ ] free negotiate with the broke boys you can do at a cost of coffee or a starbucks so that this is a free business i've just given you one it's free two we've prioritized money in the first thing i wrote is how do we make the money how do we make the money we sell records okay so we need this we need this we need this proton's making the money and the third thing i did was speed quickly get out get out get out tell the broke boys to make more tell the break boys to start a daily vlog of them recording a daily vlog of what it's like in the band start putting out on a youtube channel speed speed speed more more and more give me give me content content non-stop speed all i did was stick to my three basic business principles now imagine you try this for six months and it doesn't work have you lost money no what did you lose you didn't have a big fancy office you didn't lose nothing what's the worst that could happen what's the worst that can happen nothing and that is the exact point i'm trying to teach here if you stick to these three tenets in nearly any business you'll launch it for basically nothing and nothing can go wrong nothing can go wrong point four let me clear my board i'm gonna get some hot chick like sit here and wipe the board factor me message of female right now sorry bear with me let me uh get a member of staff right point four staff now this is gonna be a controversial one but bear with me if you're watching so far you should have learned a lot because we're just getting [ __ ] started we have a hundred business points to go through we're on number [ __ ] three number four family and friends are actually the best staff you can possibly get now people say don't mix friends with business don't mix family with business can you clean my board sit here and wipe it please don't mix friends the business get that [ __ ] off don't mix friends with business don't mix family with business that's a lie so the reason people say this is because people are [ __ ] and they can't get along with anyone they're not they can't get along with anybody long enough to make any money but i guarantee you have family members right this second who could make you money i guarantee you you have a 15 year old niece nephew cousin brother whoever who knows more about computers than you do i guarantee there's a 15 year old out there with nothing better to do who knows more about photoshop than you do right now his stupid ass needs a job so you can start a company right now you can call up all your cousins one of my cousins works for me my brother works with me when your cousins nieces nephews whatever some 15 16 year old who's in school and bored and say we're starting a company i'm gonna make you a director you're gonna have ten percent of the business you're gonna do everything i say and by the time you're 20 you're gonna be rich not bad seven out of ten you're gonna be rich and he'll come start doing work for you now if you if he won't listen to you well then i don't know if you can't tell a 15 year old to do then you're a [ __ ] but me i always have people i can call on there must be younger people don't you don't need some old person you need young people and the reason for this is because young people have nothing to lose if you hire a 30 year old man he has to pay his rent he hasn't got time to waste he has rent to pay he has a car payment to pay whatever a 15 year old he has nothing he only doesn't play video games so if the business fails who cares he has nothing to lose so why don't you utilize him you must have friends or family members who are young enough in a position that they have time to waste don't hire people who can't afford to not pay their rent hire people who live for free if you have friends and they have a kid go to your friends and say your kid's 15 he's good with computers yeah i'm thinking of starting a company i'm thinking of letting him work with me for free at the beginning see if he's good maybe he's good i'll start paying him they'll love that they'll love the idea of their son or daughter getting some enterprising work yeah good idea what's the business name bang there are free effectively free workers everywhere and if they're not free they're extremely cheap and they're everywhere you just don't utilize them so now let's think of [ __ ] you own a website business i don't [ __ ] know website business let's say you don't know like you're me i don't know anything about building websites you want to start a website company it's oversaturated i wouldn't recommend it but let's say you start one you go you find a 15 year old you tell his ass learn how to make websites she convinced him it's a good idea and then you start taking money and you give them you give it to the 15 year old you're a middleman now a 15 year old works for free you can do websites cheap now you can do websites for 300 bucks i'll do an entire website for 300 half now half when it's done people like 300 for our website yeah 150 bucks now everything's done take 150 bucks give 50 bucks to the 15 year old tell him when he's done he gets another 50 bucks 100 bucks for him 200 bucks for you you ain't done [ __ ] boom wham bam done he could even start your company website for advertising to be getting for free bang you have free workers out there find young people because young people can afford to work for [ __ ] nothing you trying to find members of staff that have mortgages and [ __ ] pension plans that's expensive the best staff you can find are young people and in most cases young people know more than the old people anyway especially about technology and stuff young people are fantastic i love hiring 18 19 year old kids they know [ __ ] more than me about [ __ ] tick tock instagram all the blah blah all the [ __ ] that's big they know more than me i'm 33 i'm not even old these kids are sitting there going we need to do this and this and this i'm like go then they're like how i'm like how long is it going to take like a week i said no it's be ready tomorrow tomorrow show me it done don't piss me off go speed back to lesson one bang so you already have workers for your business you already have them you just don't [ __ ] use them because you're lazy so contact them right now let's get started i apologize for the change of face but andrew has invited me here to talk about another very important point when it comes to making money which is work with family when possible that's why i'm here now it's very easy for people like me and andrew to tell you to work just with family members because we're two brothers and we're exceptionally close but we actually learned this from other people me and andrew have always been best friends but we used to fight and argue when we were growing up and when we were 16 17 we worked in completely different let's call it fields i mean we worked different jobs we weren't actively putting our resources together and trying to make money we had some friends who were pakistani guys from the united kingdom and they taught us a very important lesson one of our friends i won't say his name but he had a ferrari and he used to drive it around our hometown and we were very impressed and we said well you know how do you have this ferrari because he was only a lawyer a junior lawyer making maybe 50 000 pounds a year a good income but not a ferrari income and he told us he said you english people you white people actually he said mixed race have it all wrong i have six brothers and what me and my brothers do is this one of us is a doctor one's a dentist one's a lawyer one's an architect we're all in different fields what we do is we live in the same house our wives live with us our wives cook the meals and look after our children and we pull all of our money together that way we own the house instead of renting six other houses i thought that's pretty clever and what about the ferrari they said well a ferrari finance payment is 2 000 pounds a month more than me on my own however i don't drive the car all the time so me and all of my brothers we bought these finance agreements for the ferrari our range rover and our rolls royce and we all drive them whenever we want i thought wow that is smart that's a conversation that got me and andrew thinking at a very young age from that point on whenever we were renting a small apartment we'd rent it together rather than pay two separate rents property prices in england were still too expensive for us to buy but uh when we worked together when we were looking at making money we thought how can we do this together and everything from there went into a single pot up until this day we're multi-millionaires we share bank accounts i don't know what's in whose account under what name which house which car is owned by who i mean i know on paper but it doesn't matter because everything is collectively owned now it doesn't matter so much me or andrew could go our separate ways buy our own family home and have three supercars each if we wanted to but we don't you see when we were much younger our first ever supercar was an aston martin vantage an old one cost us 65 000 pounds secondhand wasn't the most amazing car but we paid for it the both of us that way we had a supercar for both of us to use the money we saved we put into business the other activities we were doing and that helped us propel forward to the point we're at now so sure it'd be easy to divide resources and split now but why am i going to reach the next level faster if i do that no so now i live in a seven bedroom house my driveway is full it's got six cars on it i actually need to extend it uh now because andrew won't stop buying cars but that's fine by me always work with family now my cousin from the united states is in a very lucky position he's now living here in bucharest he works with us and he essentially works with us forever as long as we're making money he's going to be here and he's part of the team when i first met him he was five years old i didn't see him again until he was 19. now when he was 19 he was smart he had all going on but he was a bit privileged his mother was a very well-to-do woman a best-selling author uh on the in the field of political science and a university professor and he was at university everything was getting paid for him i thought okay you know he's not from the same world as me but then things started going wrong for him he was uh sleeping on the floor delivering pizzas living the kind of life i remember so after two years of what i call the struggle i thought okay it's time to bring luke back in and luke is now a member of our team as he is a member of our family now i understand not everybody has brothers not everybody has cousins you may be an only child you may be an orphan i don't know what you are but everyone's got those people those people that are so valuable to you that you wouldn't stab them in the back for a billion dollars and a thousand women those are the people you want to work with as long as you are sure that they share your sentiments those are the people you want to team up with pool your resources live in the same house if you're broke if you're both working dead-end jobs rent one room together if need be if you're good friends if you meet a woman tell them to take a walk for an hour and come back that is the one of the keys to my land your success lesson five command respect now what i want to do in the 100 points this hundred tenets of business is i don't want to talk too much about the fluffy [ __ ] that all the other millionaires talk about and teach because what they're really doing is copping out so it's very easy for tai lopez who has no real business skill tai lopez doesn't know anything about business to say you get rich by reading books because it sounds easy then everyone goes oh really okay i'll read but it sounds easy but it's not true and think positive you'll get rich that's not true either but some things are true and number five this is true command respect this is true so i'll give an example we're gonna go back to dan the t2 guy so i still talk to dan sometimes now and he's a good guy he's got a good heart but he just loves drugs some people do one of the reasons i'm good at business is because i command respect and i command respect because i'm a physical specimen of a man this is the reality i'm a professional fighter so this helps me whether i'm running my webcam girls or whether i was pitching television advertising there's a level of respect humans have for other humans who are a physical specimen dan is a big black guy the way dan sold an act acted and treated staff he could get away with that he couldn't get away if he was an obese white guy because there's something evolutionary about humans and if you're a person who's viewed as strong people respect you and people trust you if you want to run a business and you want people to spend money with you then one of the best things you can do is go to the gym tell you the truth get in [ __ ] physical shape and people will see okay well he's obviously not afraid of hard work he's obviously disciplined there's some things that are spoken without being spoken there's a word for it that'll come to me and having a physical presence is one of them it helps in business every possible way if i stand up when i used to stand up to sell tv advertising in front of people and say i guarantee you you spend 19 000 with me i guarantee you you spend 19 000 me you get double back when they see your product on tv a product like this is gonna sell do you sell online yeah where else do you sell tesco sainsbury's oh you're in the superstores as well you were gonna make twice your money back guaranteed if i say that as a big strong guy who they could tell obviously trained really hard was disciplined was was not afraid of hard work that was more valuable than if i was a fat piece of [ __ ] it's gonna work i'm like well what the [ __ ] do you know you see pizza you don't know anything go to the gym command a physical presence i'm not saying you have to beat anyone up i'm saying if you command a physical presence your words have more weight and it helps in business across all things everything i know webcam girls is a very unusual business and none of you have probably run webcam girls but i learned a whole bunch about business running my webcam girls in fact i approached my webcam girl business the same as i approached every other business with the same tenants i started it for cheap with a laptop i already had and the girlfriend i already had i found out how to get the money in before i find out how to produce the videos i had people sending me money for these feature length porn videos i couldn't even produce them i didn't have a [ __ ] camera money first all my same things speed quickly get everything produced quick quick quick i did all the same things with all my businesses but the reason i could have so many girls listen to me is because i'm me and i'm me because i'm big and strong i'm entertained so if you want to run your business do not neglect physical presence now you can be successful without physical presence there's a whole bunch of dorks who are successful but i'm talking about what i know about business and what i've learned this is the hustlers university and what i'm saying is it will help you even if you're bill gates and he was super successful and he's a dork he would have been more successful if he was a big strong dude it's never gonna detriment you to be bigger and stronger in life and whether it's in business and every other aspect of life being bigger and stronger and commanding physical presence will always help you it shows discipline it shows that you understand hard work and it makes your word more valuable and sometimes in business all you've really got is your word you have to promise people [ __ ] and they have to believe you so if you do that as a big strong dude people just believe you more this is just a harsh reality this is the hustlers university i told you it's no nonsense there's no garbage if you want to run a company start going to the gym get big get strong it's gonna help you make money sooner or later i guarantee you it's gonna help you make money this is point five don't neglect it because it's very very true even if it only helps you ten percent ten percent is a lot ten percent's the business the ten percent is the difference between success and failure ten percent is the difference between a little bit of money and a lot of money ten percent is a huge difference if you're if you're selling let's say you're selling a million dollars a product and you've got a 20 margin that's 200k if you had an extra 10 margin because you're the big strong guy and you got 300k bang that's an extra 100 grand a year that's a [ __ ] 911 that's a porsche there's a big difference it's a big difference so do not neglect number five because it's real check the guns would you and here let me prove the point would you have bought this course you bought this course because i'm entertained you trust me you've obviously looked at me and you go you know what i've said about this guy he knows something i trust him would you have still bought this course if i was morbidly obese genuine question i know it's an extreme this question if i was morbidly obese in my chair and very very fat i'm gonna teach you about business would you have bought the course or would you thought [ __ ] you fat [ __ ] you don't know nothing and if you're honest with yourself you'd think yeah you're probably right i wouldn't have bought from you if you're obese so that's the extremes i'm a professional fighter obese these are extremes but the extremes prove the point the closer you are to a good physical condition the more likely you are to be respected and the more likely you are to be able to say things and people believe you so get in physical shape that's point five commanding respect is always always gonna be able to help you throughout life especially in business point six resell the people you've already sold to it's the easiest money you'll ever make so in t2 television when we because obviously we knew we weren't making money when [ __ ] was getting hard what we do is we were selling these 18 19 grand deals and one of the reasons we survived so long is we get people to sign up pay 18 19 grand make their advert show them their advert hope they loved it and if they love their advert then we try and sell a bonus airtime package we come at them and say by the way we've got a really big purchase coming up from mcdonald's some [ __ ] and we're getting airtime extremely cheap and for only an extra five grand we can get an extra 100 spots on tv some garbage some [ __ ] and try and sell them this extra package and this package had some profit in it for us the spots we'd given would be in the middle of the night cheap [ __ ] and this was our only chance to make any profit so they said no to this we did all the work for effectively nothing they said yes we'd make we'd sell it for five and it was like four grand profit that's how we were surviving so if we tried to put that in at the front end and sell 24 25 grand packages we couldn't sell it but if we sold about 19 and then tried to upsell them later we had about 60 70 upsell rate if people like their advert so the easiest money you'll ever make is selling to people who have already bought from you before as long as you relatively fulfilled your deal so we we did it after the advert we didn't we never tried to sell it to them before they saw the advert because then it was much harder to sell so if you do a good job or a half good job the best customers you're gonna have here have are people who have already bought from you before you should already know this about business this is a very easy one but it is so much easier to sell to someone who's already bought from you than it is to sell to someone new a lot of you watching this may have already bought something from me before congratulations you must know a lot of [ __ ] but it's very very important it's very very true so i get a lot i know a lot of people with a lot of different businesses and they all call me up for advice and one of the first things i had a guy called me up about two months ago and he was saying he's struggling for cash he asked me to borrow money and i said i won't say who he is or what his business is because you'll know some of you will know so to protect him i was like well okay how much you need he's like 200 grand so how many customers do you have because all in all we all know how many customers are on your database you guys are about ten thousand like bro there's your 200 grand put together a [ __ ] email campaign do a huge discount don't let you don't have to let it leak out into the public let them pay full price these people have bought from you before put it all together pow and blast it out there's your 200 grand what do you need me for these people have bought from you before and you delivered there's your money your money's sitting right there go get it so easy to sell to people who have already bought from you before you did a half good job in business you don't need to sell to tons of people if you can sell to the same people over and over again and it's much easier to sell to the same people over and over again than it is to keep finding new people keep that in mind especially during times when you need cash or you're trying to raise cash or you want to increase cash flow the first thing you should do if you have a company and you're making a bit of money making a little bit of money and you go you know i want to make some more what can i do don't look at advertising more don't look at getting new customers don't look at a new product launch the first thing you should do is go is there anything i've already got that i can resell to people who have already bought from me and that is the easiest money you're ever going to make don't forget that because you'll need that a certain point in your business career you're going to need to be able to pull that ace out your sleeve and generate money from thin air keep in mind that's point six right point seven this is another one that goes back to point two and point three but this is really important don't get legal before you get rich this is super important we're talking about hustling here i'm telling you the hacks to becoming rich do not get legal before you are rich you can fix your legal [ __ ] when you've already made money it's a shame i've deleted my or erased my beautiful makeup diagram but it's very sim similar to what we were saying earlier i know so many people who have registered a company registered for vat registered with the tax man i already have an accountant and haven't made any money yet i in most of my companies will make a million dollars before i'll even consider [ __ ] around with a tax form talking to an accountant or registering any [ __ ] companies all that [ __ ] is on the later base until you have proved the viability of your company and you have money coming in when you're rich and you have money in the bank then worry about that stuff do not waste your time energy and money doing all that legal crap before you know anything about whether your business is going to work or not don't do that it's the it's it's counterproductive and it's expensive and it's a time sync if every time i had to start a company or an idea i had to go register a company get an accountant do tax forms do vat forms what a waste of time i've started maybe 100 companies in my life 20 of them made money you tell me 80 times i would have had to [ __ ] around don't do that i know so many people who have a company legally but don't have a company in reality because it exists as a legal entity but it does not provide cash a company provides cash if you're a street drug dealer you own a company much more than the guy with all the legal entities which ain't making money do not we're hustlers here this is the hustlers university do not confuse this money in what's the lessons i've been teaching you money in where's the money in legal [ __ ] is a cost we're not interested in costs until we've seen the money in do not get legal before you get rich you do not need any legal [ __ ] you need a website a domain name and you that's it you do not need any legal [ __ ] before you get rich don't make that [ __ ] mistake the reason people do that is because it makes them feel better it makes them feel better because then they feel like they have a company so people go i want to start a company they don't know what to do and they don't know how to make money so they think well if i spend money and set it all up legally then it's then i've got a company then they feel better inside like they've achieved something when really they've achieved nothing because they're still not making money don't fall into these traps so you can walk around tell everyone you have a company because you've spent money anyone can spend money making money is hard spending money is [ __ ] easy do not do that vanity i own a company on paper garbage [ __ ] all that off until money's coming in the bank do not get legal before you get rich extremely important point nine use what you got so this comes down to one of the ideas for how what idea of a business to run so i just gave you the example of the 15 year old cousin who can make websites now you have a website company or your 15 year old cousin who can do i don't know [ __ ] who knows what he can do he can mow lawns every 15 year old can mow lawns now you have a lawn mowing business bang tell his stupid ass to go deliver some flyers drive him around your car play some two-pack chill out in your car text some [ __ ] drive it five miles an hour let him drop off all the leaflets and then let him know all the lawns you collect all the money and just pay him a percentage bang you now own a lawnmower lawn mowing company congratulations use what you got i made a lot of money with webcam girls if you're watching this you don't know that webcam girls you can go to chatrebate.com you see girls on there on webcam getting naked talking to dudes taking money that made me millions and millions of dollars i came up with that idea by sticking to this principle use what you've got so right now if you're sitting there make a list of everything you have and i mean everything you have a house say it's rented you have a car it's on lease you have uh physical strength let's say you're a strong guy when i was making my list i was writing everything down i was like well i've got six girlfriends six girlfriends so okay strip how can girls make me money strip club but that takes money to set up remember costs money in strip club i cannot i cannot get money in in a strip club without a club so i looked at all the costs for a strip club and realized it's too expensive before i could get money in it's too big a risk remember there's too much risk i can lose 3 400 grand can't risk that how can i get money in how can i get money in for having hot girls without spending money out so my first idea was strip club but i looked at all the costs i was like okay so how why do men send why do men spend money on girls in strip club because the girls are beautiful they get to look at the girls see some titties that are how can i do that without the club well the internet if i put them on the internet it's cheap this is literally how i thought i stuck to my business principles okay it's cheap start looking up bound discovered the webcam websites all right so i've already got the girls i've already got a laptop i've already got the internet bang the day i had the webcam idea the same day i was making money i didn't spend any money but i was making new money because i refused to allow myself to spend then i started making new money in with the webcam because i knew i had the internet i knew i had laptops i knew i had girls use what you've got look around you what people do you have does your old mother need a new job maybe she's at home and she's bored and she wants to maybe she'll mail things for you i don't [ __ ] know do you have cousins nieces nephews do you have a girlfriend who has nothing to do use what you have people things you have make a [ __ ] long ass list and you'll start thinking of ideas business ideas and they're gonna come to you like the strip club came to me but then you're gonna sit there and go okay this is a good idea but i can't afford that but then you're gonna go back to the other lessons i've taught you okay this is how much it would cost to set up that way but how can i get the money in that this would generate without all the costs and if you do that and you sit there with a piece of paper and you write everything down and you stick to the principles i've taught you so far about how to start businesses you may find a business you can start for a couple grand you've already got your staff a couple grand you got an idea you try it doesn't work lost a couple grand does work bang you're rich that simple if it starts to work speed speed speed speed more and more and more less than one it's really not that complicated this is how hustlers get rich it's really really simple so use what you got a lot of you already have things you can use you just don't use them uber is another one man uber is a [ __ ] perfect one so i know uber doesn't pay very much at all i know that but you know what everyone loves to do when they first get their driving license drive maybe you have a 17 year old cousin or some [ __ ] he's just learnt to drive get his ass on uber rent a car find a way to rent a car with unlimited mileage per month tell him he's going to do 10 hours of uber a day to train how to drive lie to his ass and say that you in the uber app you can track and make sure he ain't breaking the speed limit so he drives safe put his ass on uber pay for his gas and keep and give him half the money and keep half of yourself bang done set him up get him ready this this is [ __ ] i didn't plan i'm just telling you things off the top of my head because this is how i think as a hustler i don't i don't need to sit and think i just know there's money and i find a way to get the money that's how i am so right now you've got cousins out there who aren't driving uber if you can convince them to drive uber well then why don't they do it without you easy you can talk some [ __ ] make some [ __ ] up hey have you got an uber account no i'll set it all up for you because it's complicated and there's some tax i'll handle the tax don't pay no tax just lie blah blah blah get them an uber get them in cars bang bang bang take the money done what are you waiting for use what you got you've already got people there's cars there's things happening you're just not doing anything look around make a full list of what you have stick to the business principles and find a way to get money in without spending money out and you won't lose that's what i did with the webcam company and it made me millions of dollars millions i ended up with huge numbers of girls all because one girl i started with one girl made money bought another laptop got another girl two girls made money bought a bigger apartment three girls four girls five girls bang bang bang bang before you know i had a [ __ ] empire of women because i stuck to my business principles i never i never spent money i didn't make first i never for my webcam company which ended up generating over seven million dollars i never once ever spent money that i hadn't made i didn't spend a dollar out of my pocket that i hadn't already made first from the webcam company i started that from zero just like i started my advertising agency zero and this is why when people come to me and go i want to start a business i need an investment i sit there and think you don't know about business because if you knew about business and your idea was really good you wouldn't need my money you'd pull it off for zero if you're talented and your idea is good you don't need money so if you can't make it work for xero or for very little then it probably wouldn't work anyway and you just lose a whole bunch of money because if it would work if it's a good idea and it will work then money will start coming in fast and you'll have the money you need if no one's sending you money in to give you the money you need then the idea doesn't work anyway so if i put these hoes on right hoes i take that back it's horrible if i put these chicks on cam and no one was paying them then they weren't hot enough to be in a strip club were they luckily they were i know my girls are hot it's just an example this way i get to find out if they're good enough for free this way i get to find out if they're good enough for 2 300 grand think about it use what you've got you've already got shout there you're just lazy point 10 staff i know a lot of people who are starting companies or they want to start business and the first thing they say is i need an assistant or i need this or i need that member of staff staff need a clear objective so here is the very simple magic rule for staff staff either make you money or save you time that's a clock in case you're wondering or you don't need them so a salesman a sales staff will sell things and bring money in you'll be able to sit there and see exactly each week how much money that member of staff made you and you'll be able to make sure that he made you more than he cost you fine other members of staff are going to save you time even if it's a general assistant or pa you'll be able to see the time saved with the tasks they've given and you need to be able to sit down with a piece of paper once a month once every couple weeks whatever and audit your staff staff member how much money do they make how much do they cost positive or negative staff member what tasks did they complete how much longer from my life would it take in me to do those tasks is it worth the money because if you could have done those tasks in your free time where you spent watching tv then you don't need that [ __ ] member of staff fire them and save the cash you have to audit your staff very specifically by this method they either save you time or they make you money or you don't need them now anyone who's worked any kind of job knows if you go into any kind of company most people are doing nothing i've worked so many jobs and everyone did nothing in fact i had a job at a company selling advertising after i left the after t2 failed i got a job at another company selling websites and all this kind of advertising and i spent three of my five days a week reading wikipedia because i didn't care because i had a basic and it was enough and i was and by then i was training to be a world champion i was tired all the time so i didn't give a [ __ ] and no one called me up on it no one noticed three days a week i did nothing but read wikipedia pages because i couldn't access facebook it was interesting that is literally the level of laziness most people experience if you take out coffee breaks cigarette breaks chit-chatting in the office most people do [ __ ] nothing i'm very sure you could fire 50 of the people in nearly any company and the company would be just fine if the other 50 did some real work everyone's lazy big companies are inefficient because they haven't got time to do this but you're not gonna have a big company you're a hustler you're gonna have a few members of staff you're gonna make millions of dollars and you're gonna make sure that either making you money or they're saving you time now the amount of time they're saving you isn't enough or they're not making enough money to cover their wages they gotta go there is you gotta be ruthless in this game but this is how staff this is the magic formula of staff so when people say to me i want to start a company i need a assistant i see an assistant to do what oh just to help me with things what things what things will they help with how long do those things take how much time is that going to save you and why do you not have the time to do them yourself because you want to watch tv because you need to relax because you're afraid you'll burn out shut up it's garbage it's all garbage you want to feel important and tell someone what to do that's not how you get rich this is the magic staff formula do they make me money do they save me time write it all [ __ ] down work it out and if it ain't good enough they gotta go simple that is how you manage staff because i get asked so many questions about staff making money save me time done another thing that's important with staff is you have to teach staff your business ethics so whenever i have a member of staff i've argued with staff plenty of times because everything must be done quickly but that is how i work that is how i want them to work now i am a hundred percent certain that even if it's only by one percent the fact that i am uncompromising in the fact i want things quickly things get done quickly or quicker if i didn't say anything it may take 10 seconds if i complain it may take nine seconds it may only be a tiny saving but that is how i work that is how the people i work with i want them to work speed is everything so when you get new members of staff on board as well make sure they understand your business principles especially number one because that is your business mantra speed so if you have a salesman and he's selling and he's doing fantastic that's good you can sit him down and say you know what you're doing a fantastic job you're making lots of money i'm very very proud of you look you're making this this this this you've done really well daddy you're making target so only one thing i want to talk about how quickly you work i'm like what do you mean i'm hitting target yeah you are hitting target but when you're inputting information to the system i think we can get that done quicker there must be a faster way we can get that done free up his time if he does things quicker he has more free time to sell more products he'll make more money speed no one ever works fast enough when i was fighting jab cross the basics is never quick enough it has to be quicker has to be quicker in fighting there's no such thing as too quick everything must be faster all of the time it's the same in your business all of the time faster all of it all the time if your assistant is saving you time if they work faster they save you more time because they have more time to do more things to save you time faster all the time so even if they're both performing you still have to re-incentivize and re-illiterate point one point one is super super important if you do that you're gonna get more active staff more money's gonna be made more work should get done it's better for everyone as a whole i learned this business i learned this we're gonna come i'm probably some of these points will overlapped but before television i worked as a fishmonger when i was 15 was my first job and i used to carry boxes of ice and uh fish at six o'clock in the morning on the market [ __ ] job in the middle of winter carrying ice six in the morning is minus five it's horrible your hands are shaking it's a horrible job and i got paid no money but i did it because i wanted money so if i'll do that at 15 your 15 year old nephew will make a [ __ ] website so i used to get up at five run from where i lived in luton to the town center market run because i didn't have a [ __ ] car work 10 hours and then run home that's how much energy you have when you're young that's what i did and the person i worked for was my uncle my uncle worked there his name was keith and he always used to tell me faster faster faster faster and i was always trying to move these bucks of fish as quickly as possible and one when i was moving all the boxes i'd say yeah but if i finish it all what's the rush i'm here until five o'clock he goes no no faster faster faster he'd always push me to finish and then if i finished everything i'd have maybe three hours left if i if i walked it would take me to 10 hours if i ran like crazy it would take me seven hours so i'd have three hours spare i say now what do i do he goes there's always work to do find work to do what do you mean find work to do because find work to do fine if i see you standing around i'm gonna get angry find work that's what you used to say i'd end up sweeping the floor or wiping the walls cleaning the walls some dumb [ __ ] but he was right i'm gonna come to this point later on if you do things quickly you have more time to find work to do and finding work to do adds up i swept the floor i wiped the walls maybe someone came in saw the nice clean pristine walls and bought some fish they wouldn't have otherwise bought if there's a tiny mark on the walls who knows the point is the work got done quicker because i was being pushed to be fast it got done and then more work happened even if it was menial work more work happened in the same time frame more work got done that made me more valuable as a staff member that's how he valued me you've got to be the same right that's the first 10 lessons we have 90 more the first 10 lessons of the hustlers university i bet you're sitting there already and your mind's blown you're sitting there like whoa i've learned so much i didn't think of it that way tate you're a genius i know i know we have 90 more we've just begun if you've watched this video once i recommend watching it two or three times these things need to sink in like second nature to you you need to be able to recite them one by one we've talked about how you start companies what you're prioritizing a company how you make sure everything's done quickly and why that's so important how you manage staff how you find ideas to relaunch companies what members of staff you can get we've covered all this in the first 10 points this alone is enough this alone is worth the value what i've taught you and we've just begun the first 10 points to the hustlers university if you watch this video i recommend you watch it two or three more times before you even move on to number two if you want to move on to number two do it but you need to pay attention to these because they are the basis of everything i'm going to teach you here on after

Transcript for:Essential Business Strategies for a Record Label

Transcript for:
Essential Business Strategies for a Record Label