If you can do these three things, you assure yourself the ability to make money. I built 19 companies and invested in 78 startups. There isn't a thing I don't know about business.
And I've managed to get Luke Belmont on today to teach you what he knows, how to escape the nine to five, how money works, and how he's making millions. And all you need to do is sit down and listen for five minutes. And if you can't do that, you're probably not going to make it.
So Luke, what are we going to learn today? How to guarantee yourself the ability to make more money. I like that. I just want this down. I think it's where we need to start.
You know, many times people say, hey, fix different problems in your life. But if you don't fix your financial problems, you don't have to be a multimillionaire. But if you don't fix your financial problems, you don't have the mind space in order to work on other areas of your life.
The reason you struggle with your finances and that affects your marriage is because you're focused on the finances. You don't have enough time to focus on your relationship. The issue isn't the relationship. You have to be able to understand that in the game of life, Money is important. Not this idea of absorbent wealth, but enough for you to be able to have mental real estate and freedom to then work on other areas of your life.
So we talk about business, but business isn't the only way to make money. That's what most people don't understand. And business doesn't mean you have to go and hire employees and have huge staff or have an office.
Business is just the ability to transact from one person to the other or from one business to the other. So the question is, am I able to transact? The answer to that is yes, everybody can transact and you don't have to do it necessarily in person.
So this idea of selling, how people naturally talk about, you have to be good at sales. You can throw that out the window. We're not even going to talk about that because we live in a digital era as well.
So I call it the trifecta of money. Your ability to guarantee money. Coming in in perpetuity. The first one is understanding that anything that you do needs to be in high demand. Any type of endeavor that you take on needs to be in high demand.
If you want to, for example, have a gardening business, it would be very foolish for you to have it in Manhattan because the demand for it is not going to be high demand. to be the same as if you have outdoor, let's say Tennessee or here in the outskirts of London, where there's a lot of what? Demand. So whatever you touch needs to be in high demand. I see people being like, hey, I want to start an application.
I want to start the next Uber. I want to have these illusions of wealth, but they're actually traps because they're not in high demand or they are not in the second place, which is super important. You have high demand and then up north, which is going to be my main priority, is you need to be.
the best. And that's where most people get caught up. Your ability to do something with the best of your abilities will determine whether you're going to be hired or not.
Why? Because there's going to be competition where there's demand, there's competition. And you don't want to be hired for being the cheapest.
You want to be hired for being the best. So most people come into a business and they don't work on their skills. They don't polish the business model. They don't enhance the business model.
They don't think about what are the verticals? that allow me to do this in a better way. So for example, back to very essential basic businesses, plumbing, electrician, homeschool teacher, all these things, how can you do it better than your competition?
High demand, your skillset. And then finally, it needs to be, we'll call it irreplaceable. Irreplaceable.
You need to be irreplaceable. We are entering an era right now where AI... in social media and automation is going to start quickly taking jobs. So why would I go into copywriting when any business in the next 12 months could replace me?
I say that about people becoming doctors, you know, robotics and AI working together. So you need to also, this one's an alarming one because you need to be irreplaceable in what you do. So when we were starting communities, we understand the what irreplaceable factor of in-person relationships. AI can't replace that. So you need to be able to build on a solid foundation.
You need to be in demand. You need to be irreplaceable. And then you need to be the best at what you do. If you can do these three things, you assure yourself the ability to make money. And I don't want to give a specific business model because it applies to anything that you do.
It can even apply to your job. So why would you get a job at McDonald's that anybody can do? When there's no skill attached to it, you'll get paid in proportion to what the difficulty of the problems that you solve.
So if you solve better problems, you'll get paid in proportion to that. So you don't necessarily need to go out of your way and start a business. You just need to get a job that is in high demand, that not a lot of people can do, be the best at it. and make sure that you can't be replaced. We saw this during the whole metaverse kind of experience where Facebook rebranded to meta.
They were hiring engineers and paying them 50% on top of whatever it is that they were usually getting because they were irreplaceable. And Google would come and be like, hey, we'll hire you for an extra 30%. And because they're irreplaceable pieces, they secured their ability to transact.
Because all you're doing as an employee- is you're selling your services to a business. Whether you believe it or not, you're kind of an entrepreneur. You've just labeled it differently with the W-2 or whatever it is that you have in the paperwork depending on your country. But if you're the best at what you do, which this is fully in your control, select something that's in high demand by observing the market.
marketplace. Oops. And then finally be irreplaceable in any endeavor and you can secure yourself the ability to make money in perpetuity.
So people are listening to this. So I actually totally understand this, but I'm thinking for people that won't, they might be asking themselves, well, what's not going to be replaceable? Maybe we could get into that today.
Let's do it. What's a high demand actually mean? Because you can create demand.
I mean, Prime, for example, that drink wasn't in demand until they made it in demand. They partly did it through scarcity. Right, so that we can teach people a little bit about how to become high demand, what high demand means. And then best for me is a really interesting thing because sometimes like the iPhone is not the best product. But actually, Samsung Android is a better product, but people still want the iPhone.
So it's interesting because if you can get the high demand, you can almost outflank some of these things. Yes, but this is also considering that best doesn't necessarily mean tech. Best can also have to do with convenience.
People buy the iPhone because of the iMessage. and they also buy because it's a package yes it's the experience of the entire thing the other side of it for people that might be listening that practically are working in McDonald's here's the irony I have hired people who were a brilliant waiter in a restaurant if they're the best in the restaurant they're looking after customers they're really attentive they're polite they're charming whatever it is they're using all their skills they're being the best I'm like wow I would like that person to come and work with me so you might be the best in McDonald's and that will give you opportunity, right? So being the best in general, wherever you are, whatever you're doing, even if you're in that shit job will give you opportunities.
Yes. So people need to learn to be the best. So can we break down these things, do you think?
Yes. I mean, there's a couple of things, for example, high demand. So there's two things with high demand, right?
You look at trends and then you look at narratives. So with trends, it's these small explosions, right? You look at a fidget spinner. You know, that's a high demand trend. You can bring it back just by mentioning it, right?
Exactly. Just spin a link down below, a affiliate link. So you have these trends, right? You have these small little bursts.
We see them in social media. Now more than ever, these trends last two, five, maybe 15 days. People, for example, Donald Trump got shot.
People started dropshipping the shirt of him pumping the fist. It lasted maybe three days. But I saw a couple of guys making $100,000 in 48 hours because it was what? A trend that was in high demand.
So if you want to focus on this, this is like fast money, a pair of sneakers that Travis Scott releases that are private. That's a trend. You don't know if he's going to be around in 10 years.
You do a quick flip, sell it for a couple hundred. It's a great practice, but you find something that's in high demand based off of trends. What I like to do is narratives, long-term plays. So what is a narrative?
A narrative for me is AI is going to replace digital experiences. Therefore, people are going to crave physical experiences. So that to me is a long-term narrative that makes me operate differently. Initially, when you're trying to hustle and make your first money, you want to be on the trends, the next thing, the next thing, the next thing until you build up your cashflow. Eventually you want to get into your narratives, your long-term plays.
When people are like, you know what? And back in the day, you know, digital taxis and the ability to just order a taxi through an application. That's a long-term thought. If you get into that, you're expending time, energy, resources, and narratives, believe it or not.
are also riskier because it's you trying to predict the future. With the trends, you're acting upon the present moment. So this is usually how I think about demand.
Now you can create it artificially. If you're on the marketing side, you can create trends and you can create narratives. We can go into distribution.
We can go into hiring key opinion leaders. We can go into influencing social media. We can go into distributing your clips.
There's many ways to fabricate demand. And then the second one. is the narratives are a little bit more difficult because narratives tend to take longer time to play out.
They're longer transitions. So in the trading world, you would consider trends kind of like your day trading plays and your narratives are kind of like your long-term plays. Like you buy NVIDIA understanding that the chips and processing is going to be something valuable in the future and 20 years later, it skyrockets. So that's a long-term narrative. The trend is look at all the other AI stocks that are now pumping because of NVIDIA.
Do they deserve to pump? No, but it's part of it. of the trend.
Same thing with crypto, right? Does it operate on narrative? Bitcoin may operate on the narrative of, hey, it's fair money, it's open ledger, but inside of crypto, you have trends like meme coins. Are meme coins and Bitcoin correlated?
No, but it's a trend that now happens because of the macro narrative. So if you understand narratives and you understand trends, you can assure yourself to make money because where attention goes, money flows. We know that.
So you have to go where the demand is. So that's breaking down demand. Now, when it comes to being the best, how I categorize the best is you have your, what you call your variables, and then your fixed best.
Your variables are going to be depending on the specific job. So actual like hard skill type things. Are you the fastest?
Are you the most resilient? Things of this nature. Do you know the skillset and the profession well?
And then you have your fixed. which is something that every person should develop. Do you show up on time?
Do you show up with a good attitude? Are you trustworthy? Are you reliable? These are your fixed variables that nothing can basically waver regardless of your job.
These are the essentials, which is your character, your attitude, the intrinsic things of how people perceive you. And then you have your variable kind of attributes, which is in accordance to the job. So mentioning them, let's say I mentioned e-commerce.
Why need to be the best in understanding supply chain? I need to be the best in understanding cash flow management. I need to be the best in running Facebook ads. I need to be the best in product research.
Do I have to do that later on? No, you can eventually hire people to do it. But the reason you want to know it is because you want to know every aspect of your business. And the business basically grows alongside you.
So the better you become, believe it or not, the better the business will be. Because the business only reflects you. There's a hack around this as well, which I've discovered is, let's say I'm...
I'm personally not very good at accounts, that side of business. I'm good at marketing. I'm not good at accounts. So if I want the best and I want to be the best, I do co-founder businesses.
So when I start a business, I get that person in as a co-founder. It doesn't have to cost me any money to bring them in. So people listening don't have any money.
You get a co-founder, but you get that best in-house from day one. So you don't have to go learn accounts if that's something you're not good at, right? Yes.
But you need A players in your business. I agree. This is part of it too, right?
And you don't need many people. That's what most people don't understand. And you can do a lot more damage with... 300 Spartans, right?
So what you need to do is find those individuals that cover the basis that are essential for a business to succeed that you can't cover. And if you fall under the delusion that you can cover everything, then that's a fallacy. Maybe in the next couple of years when AI can become the best co-pilot partner and you don't have to show out equity or sweat equity to anybody, that future may come. We'll see billion dollar unicorns by a single person.
There's going to be more competitive at that point. Exactly. But right now we live in a situation where... Once again, you have your variables. If you can't build them out, make sure you find somebody that can cover those bases.
But then you have your fixed variables, which is the things that are undisputed that people intrinsically value and consider you the best at or not. Can be like leadership. Are you a good leader?
Like, are you somebody that's accountable? These are skills that matter more than the other because you can train the other things. These things come from inside. And then irreplaceable.
It comes back down to trends and narratives. You need to look at, is e-commerce, me selling on Amazon, the most ideal thing? Yes or no, why? Should I be selling on Shopify?
What's my thesis? And different people do business differently because they have different understandings of trends and narratives. So just make sure that you're irreplaceable. Pick something, do something that gives you longevity. You don't wanna be restarting a new business every two years.
You wanna take your time and build something that's going to be on a solid foundation. irreplaceable, undisputable, and that you're not going to have to be competing with robots that are going to be really cheap, cost efficient and working 24 seven. You need to understand that you got to be playing the future game because the world is accelerating.
There's something called Moore's law and Moore's law dictates, right? We kind of have like the exponential growth curve. It's about technology, right?
And Moore's law dictates that technology every two years gets twice as powerful. at half the cost and it only gets exponential so you start with the telegram oh well how expensive is it to transfer a message well we got to set up polls all throughout the Midwest and did it okay well what's next it's the radio well what's next is the TV well what's next is the cell phone what was next fucking implants in your head telepathic communication like exponential curve so you need to make sure that whatever you're tapping into you're understanding that this exponential curve is growing whether you like it or not And that's what I tell people is the rules of the game are the rules of the game. You're on the board. The rules are set.
If you understand how to play it, you're going to play it. The world doesn't work based off of what you want. The world just is.
And you have to play the game. The irreplaceable bit, I think, is the hardest thing for people to grasp. I'd like to go deeper on... on the other two subjects but irreplaceable like i don't think i'm irreplaceable okay so as an individual i've got a social media presence but who am i i mean i'm easily replaced it's an interesting problem i think i may be using myself as an example okay i've got eight million followers online so i've built up an economic moat of sort brands will want to use my service but i'm not irreplaceable there's other people out there that can help for example promote a brand but i think where you become irreplaceable maybe you can define it better than this but like If you're the best at something, and people, so for example, people like working with you, and you're good at it, they won't want to replace you. A reputation.
Reputation. Right. I think that's something that people wonder when they're listening, they might be listening, how do I make myself irreplaceable? I actually think that reputation in particular is totally underrated as a tool to become irreplaceable. I agree.
There's plenty of people out there that could learn from many other people, but if you become good at the best at something, I think this best thing is the key to it all. Because I also think the best thing, it links to what school doesn't teach you. And I know we're both anti the school system. I really think the school system has let a lot of people down.
Because what the school system says is, you're not good at these things, practice them more. But the one thing you are good at, it's like, well, you're okay at that, so don't worry about it. You should double down on the thing that you're good at and become the best at it.
So back to your point here, a lot of people are not making themselves irreplaceable because they're not doubling down on what they're actually good at. They're being told what they're not good at and wasting too much time on that stuff. Do you think?
I agree fully. And then you add to that the fear of failure. Right. So we need to define risk and we need to define a reward because what people don't seem to understand if they're trying to make money is that these things are something that you have to input and do before the money comes. Money is a lagging indicator of your ability to master these three areas and money will come.
You don't plant a seed. and just wait for it and it's going to grow the next day. If you have the paycheck mindset, you're not going to be able to be the best at what you do.
You get addicted to being average. I just really want for people to remember that reputation. Because, you know, a lot of people are going for the fast money.
And maybe in trends, they do things that will hurt their reputation. I agree. Which eventually will mean that they are replaced, not irreplaceable. People can't work with you because you're not thinking long term. Yes.
And so in the irreplaceable bit, let's talk trends for a second. Like, I think about what's happening in the future of AI. And I think, I mean, the line, this isn't my line, but I like it, which is like, AI is not going to take your job. Someone using AI is.
So what do you think if people are listening? Are there potentially proof? I used to say recession proof, but now AI proof.
You know, what do you think? In the short term, the most AI-proof thing that you can have is money. So figure out how to make money. I know that sounds crazy. No, no, you're talking about, frankly, every government, every big business has cash reserves.
Right now, businesses have the most amount of cash reserves they've ever had because they're waiting for something big to happen like AI and destroy their businesses. Cash, I actually think that's a good point. So you need to have money.
So you need to focus on what's going to make you money. without compromising your reputation without disabling your ability to be irreplaceable in the future whether it's because of reputation or you do something dumb who knows whatever the point is cash is extremely important the second thing that's important is your connections because in the future what's going to matter is who knows you and who likes you because AI is going to automate most of our human experiences. So if you fall under a standardized system, which most people will fall under a standardized system, you're going to be screwed. If when social credit scores come out and you have to abide by them, and if you say something on social media that's not allowed about the school system, well, then you can't drive X amount of miles out of here. Well, you need...
This is already happening in China, by the way. I lived in Asia for 20 years. It's already happening. If you cross the road when the light is red, you lose a point.
Yes. And you get 10 points. You get banned from certain things.
Jaywalking. Yeah, it's crazy. So this is coming. Yes. So I'm thinking in the future, right?
I'm thinking positioning yourself in the future of who you know, but not just who you know, but who knows you and who likes you. So it goes back to reputation. Yep. Right?
Reputation precedes everything. Your reputation needs to be unassailable. Then you need to have money. Why do you want money? Because when you have money, you can't be bought.
You can't be bought. They can't stop you because you don't need that money. And you don't need a lot of it. You need enough to be able to have that mental space for you to do.
How much do you think people need to try and get? So the first thing is, one thing is telling is people understanding that most of their problems in life are self-induced. So the amount of money that you're spending on rent is because you chose to spend it.
The amount of money. That you're spending on food or eating out or bad habits, that money that you spend was your choice. So first of all is get rid of...
This is self-sabotage you're talking about here, yeah. Get rid of... I'm spelling that right. Leaks in the boat.
Right, right. People need to check on themselves, like the list for the people to understand, folks listening to understand what they need to do to make sure they don't fall into these traps. We'll call it small L's.
The small losses that you discredit every single day. The waking up late, the eating that extra bag of chips, that spending that money on that t-shirt that's 50 bucks that you don't fucking need because you already have nine shirts and you don't need 12. You've been tricked into buying that stuff most of the time. So it's the small L's. It's the death by a thousand paper cuts, right?
It's the small jabs that you think are irreversible mistakes, but they're not because they compound like credit card debt. So small L's, you need to be able to take over your small L's. most people think about the big stuff but life is what a cumulative of small decisions you make me quite emotional about this because i see this in people every single day that i ask what their dream is they're not doing their dreams because they've had too many things got themselves into debt car debt mortgage all these things they can't do what they love because they've done this to themselves a hundred times they're stuck so now what's next this is a big one because we're talking mindset now because we're talking self-sabotage grace is how you interact with yourself because if you take small l's you're going to have an attribute and we'll tie it back to what we were talking about failure an attribute that you're a loser But taking small L's doesn't mean you're a loser if you treat yourself with grace, knowing that this is the first time you've played the game.
So if you understand it's the first time you play the game, then you're going to treat yourself differently. Why is it that people don't treat themselves with grace? It's because when failure enters a situation, and this is what you get graded on, you get humiliated.
You get put in the back of the class, they make you repeat and go with younger kids making you feel stupid, they ostracize you, they make your parents upset. So anytime failure is a possibility in your realm of getting rid of small L's. you don't want to try. Yep. Why?
Because it's, failure's bad. But failure isn't bad. Failure just is.
And you're going to fail more than you succeed in the moment you accept that you want to fail more. I love failing. I look forward to it. I look for ways I can fail so I can learn.
And by failing, you become what? The best. You become the best. How can we help people learn?
Because we hear it, failure is good. And I think people hear that line and they go, why would it be good? How can we help people fail? I mean, is there a mechanism for testing out?
Yes. So it's very simple. It's understanding the pain that comes with perfection and the pain that comes with progress.
If I want to go to the gym. I'm going to feel weak before I get strong. If I go to a business class, I'm going to feel stupid before I'm smart.
If I go hang out with wealthy people, I'll feel broke before I'm rich. And the negative comes with the positive. You have to go through it. And once you understand that, that's just part of the process.
then you accept it. Totally right. So it's like, you need to feel like a loser in order to be a winner.
Maybe the word failure, just people need to reframe it as the word fight. Yeah. You know, like fight, have pain, you know, like it's, I don't know why more, like we all know the stats, right? 80% of A students work for D students. Yeah.
So that should tell you straight off that if anyone's listening, it should tell them straight away, like if you learn to accept failure, you also build up resistance. to failure resilience and you don't it doesn't matter if someone tells you you're failing if you know you're going again this time you fail but you're going again so it doesn't matter you're learning right and what i and what i found valuable is understanding how do you avoid the small l's like okay i commit luke i fuck up luke i mess up how do i stop so how are you in a situation where you can guarantee your ability to reduce your small l's the small losses the small failures per se that are holding you back I've never been happier to be a person's whiteboard whiteboard go ahead one is make it so easy to win that it becomes difficult to lose If you're struggling with your diet, why the fuck would you have cake in your house? You're setting yourself up for loss.
If you're bad, if you have debt, why do you have a credit card? Make it so easy to win that it becomes impossible to lose. Just make it. Easy for yourself. Position yourself.
If you have cigarette addiction, why do you have a pack of cigarettes in your car? Don't hang out with people that smoke. It makes no sense. You need to position yourself. Make it easy.
Positioning. Positioning is key. The reason we are where we are today is because we understand how to position ourselves. Make it so easy to win that it becomes impossible to lose. That's what you do with your small L's because you don't want to be thinking about it.
Two. Commitment. Something that most people have forgotten about.
Most people have no ability to commit to themselves, let alone commit to others. What do you have to commit to? One thing.
A goal. Most people don't have a goal. That's why I ask people what their dream is, because that gives them at least a chance. Most people don't know it. They haven't even thought about it.
So as soon as they think, oh, I'd like to do this, then you have a goal, how are you going to get there? And I can tell people how to get there and we'll discuss it, because there's some very basic... instruments to achieve anything in life, but you need to know where you want to go.
And then you have to commit to that. If you don't commit to a goal, you're going to be like a ship without a rudder, just spinning in circles, directionless. Most people feel purposeless because they don't have a goal. And once they told themselves, I have a goal, like, hey, you know what?
I'm going to start this business or, you know what? I'm going to do this thing that I said I was going to do. They have no ability to commit. And what happens when you stop committing?
to something you become a liar and most people lie to themselves so what happens if I lied to you every single day are you gonna trust me definitely not are you gonna be confident in me definitely not so why would you be confident in yourself if you're always lying to yourself of course you're not gonna trust your ability to accomplish your goal because you know that you're going to lie. Yeah. It's the number one thing I look for.
I've got a team of 14 people that help me do this. And I basically, if anyone ever lied to me, I would never work with them again. You can't. I just can't trust someone who lies. But people lie to themselves.
That's the real problem. And you know that. You need to be able to identify yourself, not as a person that's living inside, but you need to position yourself like a stoic and look at yourself from the outside and ask yourself, hey, I've committed to something.
I'm just going to follow my goal. You can't look at yourself as a first person individual. You have to look at yourself like you're playing a video game of you. And if you're playing a video game of you, why would you sell sabotage? So, first of all, make it easy to win.
So we're not thinking about these mind games. There's a part of me, by the way, this word easy, there's a part of me who wants to call it hard. Make it hard for yourself, actually. So all the things you think you want, these little cuts, these little problems, make it hard to get them all.
Yes. That's so easy. My brain seems to think that people have got to understand that actually to have a good life, you've got to have a beginning, a hard life. Yes.
I think a lot of people I know that are successful, they're successful because they had no choice but to be successful because they had a hard life. You kind of need to do that to yourself, right? Not have comfort, not give that comfort to yourself too easily.
Otherwise, what's the goal? If you've got it all comfortable already, then you're not going to go and train and push yourself and make things happen. Yes, I agree. And the liar thing, by the way, is also really interesting because I mentioned there people lying to me.
But the other thing is people have to be really careful that they don't, it's a bit self-sabotage again, but they don't lie in a way that causes them to change their own belief system. Right. So if you tell yourself, well, I know how this lot of people say, I'm not very good at business.
And they keep saying to themselves, their subconscious starts to believe it. They're lying to their subconscious. Their subconscious now believes it's true. And they think they can't do it.
Like everybody listening, you can start a business. Everybody, everybody. So if you think you can't, you're lying to yourself. It's just what type of business you're going to do.
What your skill is applied to that business. You're an introvert. You're doing an introverted style business, perhaps, as opposed to an extrovert, right? People have literally told themselves a lie so many times.
Their subconscious believes it. Yes, I agree. So how do you break that subconscious programming? It's very deep.
So let's erase this and we'll talk about how to break subconscious programming. And we'll tap into a little bit of what is more on the science side of things. Natural law is something that everybody has to abide by.
Like the law of gravity. Whether you believe it or not, it exists. And if you don't believe in it, it doesn't matter.
Just jump. off of a building and you'll realize that it's real. There's other natural laws like the law of cause and effect. For every action there's an equal and opposite reaction, the second law of thermodynamics.
So we understand that for everything we input there's going to be an equal and opposite reaction to that input. So what people focus on is they focus on the output instead of the input. So you can't control when you're gonna become a millionaire. That's the output.
People are focused on the output. They're focused on the reaction. They can't control the reaction.
All they can focus on is the action. So for every action, there's an equal and opposite reaction. So what are the actions that you have to input in order to make a million dollars?
Do you know them? Well, no, I don't know them. Okay. Well, how many millionaires do you know?
And how many millionaires have you gone into and asked them, what is the input for them to make a million dollars? No, don't ask just Simon, just Luke. Go get 50. And I promise you, there's plenty of people on the internet to send them a DM and be like, hey, what's the one habit?
And then you've put together your list and your formula. They're very common habits. I've interviewed hundreds of millionaires and quite a lot of billionaires and habits are quite common.
Yes. And you just mentioned some of them. And if you identify them.
You know, be honest about your situation. I was just, you know, like that lying thing really in particular, we want people not to forget it because it's like, you can lie sometimes to people about your financial situation and say you're not in debt. You're better at telling people you are.
Yes. You know, don't hide things. That's.
but being transparent, but people don't, most successful people actually at their core are very authentic about what's going on in their lives. And we're going to talk about authenticity because it's super key to this. I'm glad that you mentioned that word.
So what are the inputs to become a millionaire, right? List them all out. If you guys haven't watched all of Simon's content with all millionaires, go watch it and you can probably piece them together.
Any quick ones, by the way, that you've noticed first is you need to have. A product, service, or a good. You need to have something that you offer of value to the marketplace.
So a product can be physical, can be digital, it can be a service, your time or somebody else's time. Actually, we love service businesses. I love it because they're great.
They can be low cost, you know, very cheap and get going quite quickly. And then you're going to have, you can have your physical products, your digital products, and then you have your goods. And your goods don't necessarily have to be something that offers utility. Like a pair of shoes, like... a Nike pair of shoes aren't necessary.
They're just a good, a variable, a version. So for example, you could have a service-based business that offers car wash, but your goods are that you offer additional things to it and bonuses that don't have anything to do with the service. Like, do you sell them rim cleaner?
Do you sell them additional perks and things that are inside of it? So you have your products, your services, and your goods. That's the input. By the way, most people who do a YouTube channel don't make money from YouTube. They make money from affiliate links down below.
They have goods on top of their services. So you need to offer value. That's the first thing.
If you don't have anything to offer value of, you're not going to make money. That's the main one. That's the most important one.
And then the second one. So you need customers, man. You need customers. So it's like, who is your target audience? People are thinking, okay, what am I going to sell?
No, no, no. Who am I going to take care of? You start with the end in mind.
Most people are way too generic on this. So I mentioned yesterday we interviewed the billionaire Yatsu and he was talking about niching down, how important niche niching is. People, customer-wise, people too broad. I'd like to sell t-shirts to men between 18 and 60. Well... It doesn't work that way.
Yeah, you won't sell anything to anyone. You need... And this is, we'll talk about the third one. Specificity. You need to be clear for yourself internally and externally what are you gonna offer, who you're gonna offer it to, at what price, where.
These are the clarifications that you need. Value to who and how. Very simple. And that will give you the output.
And if you just focus on providing value to this specific person in this specific way, you're going to test whether or not it works. And if it doesn't work, the output will tell you that it doesn't work. And if it works, the input. will give you the output. So that's the first variable.
Inputs and outputs are super important. Do you think, by the way, you might cover this in a minute, but I just wondered, do you think purpose helps you build this? If you have a purpose get you up in the morning? Yes, and purpose doesn't have to be this deep thing like, hey, I want to go to Mars. Purpose can be, hey, when this customer needs my help in this specific manner, I am the most reliable person that they can go to.
And I wake up in the morning and... that's that's what fires me i mean that's why i see i've interviewed thousands of people and what i noticed like if i interview a nurse she actually loves going to work yeah she want to be paid well and all that but she she has a sense of purpose she's if she goes to work she helps someone's life be more comfortable so customers being satisfied yes for example it can be your specificity it's like it's why is it that you do that you do yeah you want a customer to have less pain you know literally that can be you know but building purpose i think is so underrated into making the customers I think my whole career, every business I've ever been involved in, financial success, some and some have failed, but I've always made sure the customer was happy. So that customer is a lifelong relationship as well, if you do it right. And that should be one of the outputs. The outputs should be, I guess we can delete it on the second thing, because we're talking about inputs and outputs.
Talk about the second one, is going to be your LTV. Most people are focused on the front end money and the front end interaction. How can I take from somebody something the first time that I meet them? How can I extract a couple pennies, a couple dollars from this guy like a hungry motherfucking dog?
Excuse my language. because it pisses me off. They don't focus on lifetime value. No, that is a big mistake a lot of people make. They don't focus on the lifetime value of the customer.
They focus on the quick money. So the input is the fast, hey, first relationship, first interaction. They don't think about what's the long-term perspective, what's the long-term journey of this individual with me. When you focus on long-term value and lifetime value, which is so much bigger because it costs more to acquire a new customer than to sell an existing customer another product, then you stop focusing on making the money in the front end.
And you focus on allowing the lifetime value of the customer to yield returns long-term. Whether it's money, whether it's opportunities, whether it's connections, resources, it really depends. People are focused on the fast money, the fast transactions, and you can make some hustle money, but you're not gonna get rich. Well, I see people burn long-term relationships forever, sometimes going for the money. Input and output.
So mindset, number one, focus on just inputs, don't focus on outputs. The second one is we're talking about authenticity. When you look at a chart, for example, of this idea of the yogis and the Hindu masters, talking about enlightenment and they talk about the different chakras and all these energy things and okay you read it and you wonder and then you begin to do some research and like okay there must be some science or some facts attached to this stuff and there must be some intelligent people researching these things it can't just be me that's curious so i come across a study i'm like okay let me start reading it and it's a study with the acronym you Spain.
It's an experiment that they did over 20 years, a span of over 20 years, which is the scale of positive and negative emotion. So what they did is they put individuals inside a Faraday cage. For those people that don't know what a Faraday cage is, it's this cage.
made with different aluminums and different metals that basically block any sort of Wi-Fi signal, any sort of frequency to come into that box. And then they began prompting people with what? With different tabs. different mindsets different thoughts different questions to determine one thing the vibrational frequency that their body was kind of operating on when they gave certain responses so whether it was positive frequency or negative frequency so for example let's say they prompted you know disgust or anger inside of the person well clearly they could tell that it was a lower vibrational frequency so like okay interesting so let's prompt some positive stuff and they were like oh this is higher vibration i'm like oh interesting because the body naturally reacts to your emotions there's chemical there's there's chemistry taking place when your emotions are kicking in so when you have a negative thought you're not just having a negative thought there's an entire process attached to that energy it's putting you in a different frequency so the question is okay well what's the best frequency to be in If this is the scale of positive and negative emotions, I want to be at the highest scale of positive emotions. So what is the highest form of frequency that I can abide in?
So that was the question that these scientists were asking. And if you start looking at these yogi charts, you begin to see greed, lust at the bottom, then anger, then you see love and gratitude. And then at the top, you see what? Enlightenment.
Well, what is enlightenment? Okay, make that practical for me. Like, everybody talks about enlightenment, but what is enlightenment? So they began prompting people. And they found that above what we often know is the highest form of a frequency or what everybody talks about, which is love.
And so everybody talks about the highest form, you know, the highest form of energy. They found that there was a frequency that made people vibrate 400 times more powerful than the vibrational frequency of love. And it was the vibrational frequency of authenticity. To become the truest version of yourself with no lies is to vibrate at the highest form.
that you can possibly vibrate at. I love that. Giving you... So true. Giving you a sense of peace, equanimity, and truthfulness.
And all the baggage doesn't exist because you don't have to wear a mask. Therefore, you can be who you are. You can move faster.
You can live free. And authenticity... Remember, vibrational frequency is fast.
Key that... You said that authenticity is the key to everything. And if you can do things authentically, you win the game.
So once again, it goes back to the mindset. Like, are you being a liar? Well, you know, when you're supposed to go to the gym, I'm not saying you have to go to the gym every single day, but you know. know when you're supposed to go and you don't go.
You know when you're supposed to sit down and read that article or that book or listen to that thing and you don't do it and you know you're supposed to. You're not being authentic with yourself because you want something, but your actions say something else and your mindset and your actions need to be aligned. We talk about this concept of faith.
People are like, you know, you just need to believe. You need to believe that you can. Faith without your ability to manifest it in three-dimensional world through action is dead.
dead. You can't just believe things. You have to create them through action. You need to materialize them with energy. And at whatever frequency you're going to place it at, remember frequency always exists.
What we're doing is we're tuning ourselves to that frequency. Nikola Tesla famously said, because once again, this goes back to the school system, how we're being taught. Nikola Tesla famously said, my brain is a receiver of information, but what are we taught in the school system? That our brain is to be jammed with things.
things that you have to memorize, and this is blocked information, and this is how your brain works. Well, what if we're only tapping into 5% of our brain? What if the conversation here is, dude, what if I have to get smarter and tap into more of my brain?
What if that's the conversation? Maybe if you're operating off of 2%, you deserve to be broke because you're not operating at your optimal. So how do you expect to have optimal results if you're not operating optimally?
It doesn't make any sense because you're going to attract that which you are. Naturally, for every action, there's an equal and opposite reaction. So if Nikola Tesla says, hey.
You know, the brain is a receiver of information. The question is, what are the things that are causing static? My inability to receive information or my inability to get inspired, my inability to actually put forth the effort and purpose that I want. Well, what's the music that I listen to? What are the friendships that I hang out with?
What's my environment? What do I eat? How do I speak to myself? All these things are either causing static or stillness and your ability to what?
Receive information that gives you inspiration in order to act. Think of you and me in 90 seconds. 1940 or 1950, driving down the Midwest in an old Cadillac, and we wanted to listen to some music.
That music is already attuned to that frequency. What we have to do is tune the radio and position ourselves in that frequency so then we can tune into it. So most people, they want to operate at a high vibrational frequency, attract prosperity, attract purpose, attract wealth, but their actions aren't aligned with it. So you have to act and then you'll receive. You have to do and then the outcome will produce itself.
All you have to do is change your mindset and be like, hey, you know what? Instead of looking at the situation negatively, you may look at it positively. Well, how do I do it?
I don't know. Lie to yourself until you believe it. Just like you lied to yourself about the negative shit. But once you understand that you can't solve the problems in your life with the same mindset and the same information that gave you the problems in the first place, then you understand that you need a renewed mind. and you need new information in order to behave differently.
So authenticity is the name of the game. As much as it feels like it's a vulnerability factor, once you treat yourself with grace, like we were talking about in the beginning. Now you enter a situation where you don't care because you know you're just learning and figuring it out.
I would study the Spain experiment. I think I'd like to get on to some of the, I guess, creating demand stuff in the social media stuff in a moment. Just before the office authenticity piece. just to clarify it because I really believe in this so much and I want people to understand it it's like you've got to be authentic with yourself right first it's not just an external being authentic one of the things I've noticed is I go for a lot of walks and when I'm not thinking about work when I'm just being myself is when I have my best ideas so that's an example of being authentic with yourself not trying to force things as well right but people listen to music which I think is cool but sometimes they create a false experience Feeling and then the music's gone.
They've lost that feeling. I think you have to get to that frequency that authenticity frequency Sometimes without external stimulation. You have so it you know We this content is supposed to help people but in a way that people have to get there on their own Yeah, and be authentic to themselves what they want to do what their vision is what they it takes time It does you have to ...ship away at yourself.
Yes, and what you're pre-programming. And you have to identify whether that programming serves you or not. It doesn't for most people. It doesn't, but most people are prideful. Right.
And they're like, no, no, bro, you don't even believe that shit. That's not your belief. Don't fucking hold on to it. You don't even believe it, dude. You just be, you know, I was telling my assistant, uh, Hugh.
he was in a relationship. If we can't say this, I'll cut it off. But I asked him, I called him one day and I said, I'm like, yo, are you happy? And he lied to me.
He was like, yeah, I'm happy. And then he told me the other day, he was like, no, I wasn't happy. I was just too prideful to tell you that I wasn't happy.
And we do that all the time. I do that myself. Yeah, I think we all do that.
I tell people, hey, you know what? Yeah, I'm doing good. Well, no, I'm not actually doing good and shit. Well, England is really bad.
You know, here, you ask anyone, if you actually ask them truly, they're having some trouble with debt or they're having this problem. Yeah. Yeah, and by allowing that, you create the status quo that it's okay.
I'd love it if the whole world, if you ask someone if they're okay or not, told you the truth. It'd be really interesting. First of all, people would ask you less because most of the time people ask you and don't really mean it. So you get less wasted conversations, pointless, how are you? I'm fine, thank you.
But also I think people should just be honest. And I think every time someone actually tells me they've got a problem, my brain goes into how can I help them? If they don't tell me the problem, how can you help people?
Because I think the hardest thing is to ask for help. Yeah. That's actually the hardest thing for people.
I think people want to help. That's my instinct. A lot of people I meet want to help people.
But help themselves very hard, pre-programming, or help themselves by asking for help, people find it hard. Yeah, I mean, you can't help yourself if you suck. Like, you can't help yourself if you suck.
So, okay, you need to fix yourself first. Well, how do you fix yourself? Small wins. It all goes back to the small building blocks.
People want it overcomplicated, man. It's not that complicated. If you know you need to exercise, exercise. If not, you'll deal with the consequences.
That's fine. If you want to be poor, be poor. If you want to leave hate comments, that's fine. Do that.
It's not, it doesn't bother us. It doesn't change our lifestyle. It is what it is, but it's your choice.
And I often tell people, you know, the rich and the poor are both self-made, but only the rich will admit it. The poor person will never admit that they're broke and that they're responsible for it. No, no, no.
You're a grown up. If you're 15, 17, 19, 20, like, I get it. If you've had a bad life, you have some come up that you still have to do. Well, even then, and I can talk.
I get it. I was 15 years old. Yeah.
And I was homeless. Yeah. But if I look back critically and looked at the time, I had an argument with my mum.
I didn't compromise. She didn't compromise. And I got kicked out.
And she had leverage. Yeah, she had leverage. Now, you could argue that that was self-created. Because if I had accommodated her and maybe worked it out.
then I wouldn't have been homeless. So it was self-inflicted. Although I blame her for most part of my life. And most of it is in once you get to that point of self-infliction, you understand that you're self-inflicting both negative and positive. So you're fully in control of everything.
Yeah. And what I like about that is that nobody can take your wins. Yeah, that's true. Like nobody wants to take your losses.
That's fine. I get it. I'll eat my elves by myself.
I'll deal with the garbage. That's fine. But when I win, I'm a saver of that. yeah right so it's like it's what we talked about if you want to experience pleasure and you want to experience trophies and winning perfect you're gonna have to deal with what it takes yeah and that's what most people are not willing to go because they have that nine to five paycheck mindset which is i work today i get paid tomorrow i work today i get paid tomorrow and if that's how you think and you're living on today yeah it doesn't work that way you want to build true wealth you need to be building imaginarily first as to what it is that you want you And sometimes that takes saving, that takes structure, that takes becoming a new type of person.
Even a new community around you. Yeah, a new circle of people who know everything. It's hard for people.
They grew up in certain towns, certain villages. They got their hometown. Yes.
I've got three brothers. Two of my brothers, I don't like them. But that's really hard to say.
Just assume because you're born into the same family, you're going to be the same. But you have to learn to be disciplined and say, well, they're not. the people I want to be around. And that's okay. I almost feel like that's my fault.
Like I'm, you know, that I bought into a family where some people I didn't like. But I think people got to admit it and maybe make the life they want. Take control.
Like you say, take ownership of that. And then you own the wins if you do that. And the beauty about the wins is that it gives you the confidence that the small L's take away. Yep, totally. And you start cycling that and you go to an upward spiral.
People talk about the downward spiral. They never talk about the upward spiral. The upward spiral is just positive momentum and positive momentum reinforcement.
You go fast, fast, fast, fast, fast. And you're like, damn, I'm getting lucky. No, you're not getting lucky. You're just reaping the reward of the effort that you put in five years ago. The loser calls it luck.
Yeah. Because they have no ability to dictate their life. Yeah. There's no such thing as luck. Everything in life is a game of what?
Probabilities. Probabilities. So the question is, how do you increase your odds of success?
The more risk you take, the luckier you get. There you go. It's actually the key, right? So let's just finalize this at the end.
The high demand piece. I just want to, can you just dig into that bit for a second for us? So let's talk about high demands.
Let's go a little bit more on the business side. So nowadays you have what we talked about, your services, your products and your goods. You need to be able to present them to people. If there's no eyeballs, you're not going to make money.
So there's a couple of ways. First of all, your business needs to have an online presence, whether you like it or not. Even if it means just having Google and having your customers leave a five-star review. Because whether you believe it or not, people look at that.
And that's the first what? The first interaction, the first impression. And it matters. So first of all is the impression.
Before you get traffic, anything, what's the positioning? When inbound traffic comes, whether it's organic or generated, doesn't matter. What's the first impression? What's the first impression of your business? By the way, I always tell people, if you have a website, for example, which I think everybody should have for their business and for themselves, if your website, for example, link doesn't work on it, I make a judgment about that business.
It's not well managed. First impressions matter. And I think a lot of people don't realize how quickly people will make a decision whether or not they're going to work with you.
So your high demand drops instantly because you're not following these basics. And you improve it as time goes on. So how do you do it?
Feedback. What is feedback? For every action, there's an equal and opposite reaction, right?
So what's the feedback telling you about what you're doing? Are the reviews good? Are the reviews beneficial?
Do you manage the images on your social media presence? Yes or no? Like, what is it?
How is it that you are positioning yourself to recruit new talent? I realized I was like, people think LinkedIn sucks. But who thinks that? You know, I'm trying to find super top tier talent. Okay, looks like I need to have a LinkedIn presence because that's where a lot of professionals happen to be.
So that's what the feedback told me. So I had to act upon the feedback. And then I started getting better people on the inbound because my first impression was great.
People knew what they were getting into. So the first impression is super important. Second is we're going to talk about organic traffic. So we talked about trends and we talked about narratives.
If you want to reduce your cost of acquiring a customer because there's a specific cost to acquire a customer and you should know. Based off of your product, how much is going to cost you to acquire a customer? If you're selling a product for $97, okay, perfect. If it costs you $200 to acquire a customer, that's not an issue as long as you have a high lifetime value.
Because you're paying in advance for the future lifetime value to the customer. Let's say it's 1K. But if you're only focused on the short-term money, you're going to lose out. And you're going to have to focus on acquiring a customer for really cheap, which is totally fine. you want to do it.
Let's say it's a dropshipping approach. Let's say you're selling a product for $97 and you acquire it for $25. So in this case, you can make front-end money, but you can tell that it's not that much. You can run off of small margins.
So organic traffic, capitalizing on trends, narratives that are taking place. I like social media. That's what I utilize. Social media will tell you what's hot.
On Twitter, it'll tell you what's trending, and you can create product demand based off of that. Then you can have what I would call your inorganic or you would call your paid traffic. And paid traffic is going to be divided into two categories. And this is a new category that has just come out recently that I've mastered.
We're going to talk about paid traffic because if you want to acquire customers nowadays, you're going to most likely have to pay for attention. So the first type of paid traffic is where you pay platforms. So you pay platforms, whether you want to pay for ad revenue, like that's your ad expense, whether you want to pay for like banners. whatever it is, different platforms operate differently.
So this is your paid platforms, Facebook ads, Instagram ads, Snapchat ads, Google ads. This is where people are. So over the last 15 years, paid platforms made a ton of money because the only way to interact with people was to notice them through an ad.
It would be very hard for people to know who, for example, let's say Tai Lopez was. was back in the day, unless he had that in my garage ad. What if he made a YouTube video, just posted it, maybe 5,000 people would have seen it.
He had to use paid platforms in order to push his message. However, two years ago, TikTok rolled around and took over and they introduced distribution. Your ability to reach people that have never interacted with your content. before via the for you or the explore this is what exploded for me i mean we had a video day before yesterday at 52 million views the distribution is insane there and you can quantify it so somebody do the math for me so 52 million views let's say your your your facebook cpm on the cheap side is seven dollars tell me how much in paid traffic that video generated so you just have to divide it So you get $750,000 worth of impressions for free because you've mastered distribution marketing. And you don't need a big following.
If you look at the numbers behind that video, 99% of the views are new followers. For you to explore people. Brand new people.
So now people have no excuse because people used to have the excuse, hey, I need to master paid traffic. I need to either find an agency. I need to learn it myself.
I got to spend money. I don't have it. Okay, well, I get it. Today, it's no longer the case because you have distribution marketing.
So how are you distributing your products for people to find out? If you have a service, are you showcasing people your service every single day, multiple times a day, or are you hiding it? If you're hiding it, nobody's going to see it.
There's plenty of businesses on TikTok. They're out here with a voiceover, cutting lawn and getting customers left, right, and center. So distribution marketing now makes it Completely possible for everybody to get attention. You obviously have to pay for it. What are the costs?
Well, it depends on how crazy of an operation you want to do. Most of the time, it's just creativity. Creativity.
Maybe you have to incur a bus ticket. Maybe you have to buy your product to shoot the product. Small things. But it's minimal because the return, the ROI is there. Now, what I like about this for brands is that now brands, and this is the final part, is...
You need your content. This is the key, right? Because if you want to master distribution, the content needs to be good. However, back in the day, let's say you wanted to hire an influencer and we wanted to go into a studio to shoot your e-commerce product. You would think about it twice because you're like, dang, if this person posts once, maybe I'll get a hundred thousand views and it won't be worth it.
Or I have to spend a lot of money on this shoot. I don't know if this campaign will go well. Today with distribution, you can repurpose it.
The same video a thousand times. So now the lifespan and the shelf life of the content is higher. Therefore, you can invest more into it, which used to not be the case because you would need new creatives when what?
The audience fatigued. If you could make no more videos for the rest of your life and just recycle what you already have and you would obviously get new eyeballs. Why? Because there's 8 billion people out there. So it's like there's plenty of people out there to go around with the content you already...
have done. How I did it is we built a distribution system. And in our distribution system, we created multi-page accounts.
So I have thousands of accounts. And my first-You can toggle those accounts? All of them.
Yeah. So you can have affiliate programs. You can hire people to come work for you. They're called Clippers. It is the short form Clippers.
Today, I have about 150 people working for me in that distribution department. We do about 150 to 200 million views per month. on short form and my CPM is two cents.
So I think I have 500X cheaper than your average cost for a thousand views on Facebook. This is partners, paid down partners, because I see that as your internal... Because the other model is reverse of what you just said, which is you incentivize someone to do... If people are listening, they can't afford to hire 150 people like you have done.
The way they can do it is the other way, which is you basically, every time someone signs up to your product because you've created an account for someone, they get a piece of it yeah so an affiliate model basically absolutely you can have an affiliate it's the reverse of what you said because you you've got the funds to go and hire those people but simultaneously i didn't start that way how i started was i would also pay pay per view right so you pay in direct proportion to the value that the person provides which if you're thinking that people are just going to work for free and get you views for free you're delusional yeah and it's like it does i've got by the way i've got fans i've never done this so i actually have people that are making my content What I think they're doing is they're trying to make money off TikTok. Absolutely. So they've taken my YouTube videos.
I haven't done this. And they're getting paid for the views. Yeah.
So that's another model, right? And that's organic. But this is where it gets even better.
It's when you add the pay-per-view that you give them and you add the TikTok pay-per-view. Right. Because TikTok's already giving them this.
Now you double it down and give them something on top of it. So you give them a baseline salary and now you give them an upside. This is not known. obviously it's not known that's why most people don't do it but I'm sure it's not known why is it why is it not common knowledge I mean you would think that people like TikTok they should pay us to do this by the way we just basically explain why TikTok is a channel you've got to be on because Instagram is different Instagram doesn't pay you for views.
It doesn't. And YouTube pays you for views, but it's incredibly tough as a platform. So it's kind of interesting that right now, actually right now, back to what we were talking about earlier, right now is probably the time to start a business because this distribution is still available.
And it's cheap, it's available, and social platforms are competing against each other to offer the best distribution. Because right now they're realizing that they're not in the business of making money, they're in the business of surviving. Right. Because all these social media platforms that exist, dude, they're burning fucking money left, right, and center to hold on to users. So what you need to do is go to where people are distributing you the best.
For example, during the World Cup, you would watch the matches. And what was running on the ads, right? We need to be aware. It said YouTube Shorts. YouTube Shorts.
I'm like, okay, YouTube is probably going to push YouTube Shorts. So I took four different pages, right? Built up just a YouTube Shorts.
Did a million followers on all four different pages of my own content. The same content. We were talking about repurposing, right? The content.
All four different pages through short form did over a million followers. We've had exactly the same experience. YouTube Shorts now are fighting with TikTok. Yes.
But YouTube are backed by Google alphabet. They actually have money. They're not burning money.
Exactly. So unlike TikTok, which actually has a bit of a difficult financial model, if you're not on YouTube Shorts right now and taking advantage of it, and like you say, it doesn't have to be you on camera talking to people. It can be like, I know someone who's unpacking videos and he's just using white gloves and unpacking videos.
And then people-Get tens of millions of views. And get tens of millions of views and then people can buy the product down below. So you don't have to be on camera.
You can be an introvert and still leverage all of this. You don't have to be an extrovert. Yes.
You don't even have to talk on camera. You can just have an AI voiceover. You don't even have to write the script. That's how insanely automated this thing is getting. Dude, when I had to start doing e-commerce back in 2017, I had to sit down, think about everything, think about the copy, think about the hook.
I can just sell ChatGPT. Give me 19 different hooks. Give me a script that is X amount of words long. I want it to have this narrative. I want it to have Apple commercial vibes.
I want it to be simple for a kid to, and then you read it and then you tweak it and work on it a little bit. But 90% of the work, dude, it's done. You don't even have to have a fucking product. It's never been easier, is it? It's never been easier.
And what I tell people is, and this is where it gets crazy, okay? Like we're talking about all these things and you're working your nine to five, like you're dealing with your bullshit. You look at your bank account, you're missing money. You owe money to people. Like life's not good.
We've all been there. We've all been there. What you're in right now is a hamster wheel. You're in a hamster wheel.
Most people's issue is their ability to break out of the hamster wheel, thinking that the moment they jump off of the hamster wheel, that they're going to fail, that they're improductive, that they're moving backwards. But remember, remember, The hamster wheel is an illusion of moving forward. You have to get off of the fucking hamster wheel in order to move.
But people don't get that. So I want to jump off it. How am I going to jump off it? I want people to jump off that hamster wheel. So first is understanding that everything that we do in life are loops.
Most people live on loop behaviors. You wake up at the same time. You do the same thing in the morning.
Creatures of habit. Go to the same job. Comfort.
But it's the same thing. When I was working my nine to five, 2018, it was 2017, 2018 before I quit. It was a comfortable job. Cubicle, marketing job, dangerous, $4,800 a month, spending a couple hundred dollars sleeping on my brother's couch. I was chilling, like I had money.
I was good. Could afford, could go out, eat, nice restaurant. I was good. But then an opportunity presented itself. I could take the same skill, do it for myself, which was at the time running Facebook ads, and do it for a company on Wall Street.
How much did they want to pay me? 9,000. Same skill set, better money, but I had to quit my job. I had to get out of the hamster wheel.
And what I realized was like, okay, why is this easy for me to do now? It's because I secured a monkey bar before I let go of the last one. You get one client. All you have to do is set yourself up. up you have to position yourself in order to slow down the hamster wheel so that you can get off most people are like i'm just gonna quit my job no no no secure a monkey bar before you let go of the last one if not you're gonna fall on your motherfucking back so number one though is get your cost down isn't it so number that's why it's down number one get your cost down this is so key Number two, what you're saying there, like have a monkey bar to grab, which I think is get a client.
Right. Or get a replacement. We'll call it side money.
Yeah, side money. An income stream. Could be those videos I just mentioned.
Yeah. It doesn't matter. Something that's going to give you. Replaces your current thing. Unlimited upside.
Yes. That's why I love side. Hustle so much.
It's become a bit of a, I mean, I've been saying side hustle, I get a lot of negative comments or people should be doing a side hustle. There's too much stress, blah, blah, blah. I'm like, no, no, no. That's how you get off the hamster wheel. Yes, right?
Reduce costs, side hustle, what else can people do? And then the third one, which I think most people don't realise. is the goal right like it's like what is the goal that is going to allow me to no longer do the than the hamster wheel what's the goal how much money by when how much money do i need to save how many clients do i have to get like a very simple goal okay side money okay how much financial literacy is also not taught in school which is absolutely ridiculous but i think when people understand if you want to make a million pounds you are never going to make it on an hourly salary never it's never going to happen you'll be 65 you'll own your home you'll be house rich life poor You won't have the skills to make money that you need. I just don't understand why people don't all have a goal. In fact, everybody listening now, write your goal down below.
What is it? I'll critique it. And you probably won't have time to critique.
I'll probably check it out. We'll check it out, right? Write down your goal. Anything else you want to share?
Yeah, I mean, yeah, let's continue. So we have reducing costs because obviously you want to give yourself mental real estate. Yeah, you want to have room, wiggle room. You want to side money.
Okay, from where? How? To who? Does it have to be a lot?
Dude flipping sneakers. I know 17 year old kids make $20,000, $30,000 a month, man. Yeah. And they love it too. They're meeting celebrities.
And they're crushing it. Yeah. And they're crushing it. So they have a goal.
They set, established their goal. Now they're making money. Now they're able to what? Afford the luxury to get out of the hamster wheel.
And they're not doing it feeling like it's risky. that's what most people this is risky okay well create the variable where you'd reduce risk so limit your expenditures increase your cash flow with a simple goal so that's how you get off of the hamster wheel that's the very simple purpose now i'll conclude with this once you get off of the hamster wheel you need to understand why most people will never get off of the hamster wheel and why you don't want other people to get off of the hamster wheel in a certain perspective you one is most people are comfortable in their current zone so once you break out of your current situation the people that are around you that are still on the hamster wheel they're going to think you're nuts they're going to think you're crazy they're like why why the fuck are you running why why are you not on why are you not being productive on the hamster wheel right now money people are why are you working so hard when you made a lot of money because i enjoy it people even so the other hamsters begin questioning your shit yeah yeah yeah and it so now you have to have one what? Definiteness of purpose. You need to have definiteness of purpose. So you need to have defined purpose.
Defined purpose. And we end with this because when people sign up for entrepreneurship, they don't realize that they're signing up for 95% hardship. And unless you have a defined purpose and a definite purpose, whether it's other people telling you in your ear that, hey, you're not going to make it, whether it's the business.
situations that you're going to go through that are going to suck if you have no definite purpose you're not going to have the key to business and the key to making money in life it's longevity you win in the long term that's how you win the game and unless you have purpose you can't have longevity because of the things that are going to happen what's a very practical example of this because we see this take place every single day if i was to take you right now we went to the river and we went to the captain's deck and we asked the captain hey you know we want to go to x y and z port okay we have the goal do you know know how to get there within a sentence and maybe 10 seconds of research. He would tell you exactly where we're going. Can most people tell you within 10 seconds in a paragraph where they're going?
No. So you need to establish a goal and then realize that for 99% of the journey from port A to port B, you're not going to see the destination. For 99% of the journey, you just have to trail the journey, but you know that you have a definite set.
purpose and an objective. So you have an objective and you understand that 99% of the way, you're never going to see the output. You're never going to see the end result.
You just are going to arrive there. And once you've arrived there, now by definition, you're once again an unsuccessful person because now you have to find another port of destination so those people are like oh i hit my goal now i feel empty yeah because you have no purpose you need a new purpose and life is about conquering purposes finding purposes about achieving purpose so true and that's what i leave people with find definite purpose define purpose that purpose needs to be attributed to something that has longevity that gives you the ability to run long And I think we can find a lot of purpose and pleasure in that. That is so insightful.
And I think the thing is as well, that journey of going on that boat to that island, being on the island will never be an interesting story to people on the island. So the journey that got you there is what makes you interesting. And so when I tell people that, you know, enjoy that journey, you know, like that journey is hard.
There'll be scary moments at sea, but they'll be the stories you tell later. Don't you want stories? Don't you want legacy? Like I want to tell my son the things I went to Hong Kong when I had no money. I did this, I did that.
I don't want to tell him I just grew up in my hometown and died in my hometown. Right? That journey on the ship.
Thank you so much. We have a little bit of a joke at the end of these videos where I say, should we go for chicken? Do you fancy some chicken?
I'm down for some chicken. Whilst I was with Luke, he answered some of your most asked business questions to our brand new series on the Help Bank channel. Click the video on the screen to now check it out.