YouTube transcript (ULGT0Qpglek) — Transcript

Full transcript

1. 0:00these are 17 conversations maybe
2. 0:01millions in my 20s number one I was
3. 0:03going back and forth between quitting my
4. 0:05job and starting a gym or starting my
5. 0:08entrepreneurial Journey another early
6. 0:09Mentor he sat me down and said man I've
7. 0:11been listening to you waffle for months
8. 0:13now he said at some point you're not
9. 0:14going to know anymore you just have to
10. 0:16jump he said it in a way that made me
11. 0:17feel like a pansy I realized I didn't
12. 0:19need more information I'd already done
13. 0:21all of the research I just needed to
14. 0:22decide the definition of decision comes
15. 0:24from the Latin decadari which basically
16. 0:26means to cut off or kill off question
17. 0:27was which future was I deciding to kill
18. 0:29off was it the future that I was in
19. 0:30currently that I didn't like anymore or
20. 0:32was it the future that I had the
21. 0:33potential to accomplish the dreams that
22. 0:35I had by not deciding I was actively
23. 0:37killing off the future that had my
24. 0:38dreams and then I needed to choose which
25. 0:40one I wanted to kill number two very
26. 0:41beginning of entrepreneurial journey I
27. 0:43didn't know how to sell anything man a
28. 0:44mentor just said do you want to know the
29. 0:45secret to sales I leaned in I was like
30. 0:47yes please I like had my notepad out and
31. 0:49said the secret to sales is making an
32. 0:50offer so good people feel stupid saying
33. 0:52no and that obviously became the
34. 0:53subtitle of my 100 million dollar offers
35. 0:55book I kept thinking that I had to learn
36. 0:57how to like try and manipulate going
37. 0:58through sales scripts and building
38. 1:00Rapport and sure some of those skills
39. 1:01are useful to have when it's so much
40. 1:03easier to just find things that people
41. 1:04really want Chick-fil-A doesn't need to
42. 1:06sell you on chicken sandwiches they just
43. 1:07have amazing chicken sandwiches and
44. 1:09people go buy them and that forever
45. 1:10changed how I created new products
46. 1:12created new Services was I started with
47. 1:13how do I get the most people to say yes
48. 1:15and then work backwards number three my
49. 1:16next mentors was a 10 billion dollar Co
50. 1:19he always said you got to go slow to go
51. 1:21fast he kept repeating it to me over and
52. 1:23over and over again you only unlock the
53. 1:24compounding which later on grows
54. 1:27significantly faster than the erratic
55. 1:29activity of small thing here small thing
56. 1:30here new thing here new thing here then
57. 1:32just doing the same thing for an
58. 1:33extended period of time and so what
59. 1:34feels slow in the micro looks fast in
60. 1:37the macro when you look at the
61. 1:38trajectory over a long period of time
62. 1:39but what looks really fast in the micro
63. 1:41is usually really slow in the macro
64. 1:43because people can never get that
65. 1:44compounding start harnessing because
66. 1:46they're always starting back over at
67. 1:47Ground Zero whenever you change
68. 1:48something the one cost is guaranteed is
69. 1:50that change will have to get paid for
70. 1:51and what isn't guaranteed is that it's
71. 1:53going to work you know you have this
72. 1:54fixed cost which is how you should see
73. 1:55it is that whenever you change something
74. 1:56you have to pay a price number four the
75. 1:58next lesson I learned was in level of
76. 1:59effort one of my really mentors who told
77. 2:01me about flyers I thought I needed to go
78. 2:02put a lot of Flyers out to get business
79. 2:04put out 300 Flyers so I called the
80. 2:05mentor back up and I was like hey this
81. 2:07didn't work and he said you know what
82. 2:08was your test size what do you mean by
83. 2:09test side and I just put out 300 total
84. 2:10you just laughed 300. you're not gonna
85. 2:12know anything with 300 he's like we test
86. 2:13with 5 000 and then we do 5000 a day
87. 2:15after that five thousand a day 150 000
88. 2:17Flyers a month I might have been doing
89. 2:19the right thing all along but I was just
90. 2:20doing far too little of it and at that
91. 2:22point I decided that whenever someone
92. 2:23gave me advice I wouldn't let the volume
93. 2:24of activity to be the reason it failed
94. 2:26but I just hadn't done enough of them or
95. 2:27I hadn't done them long enough I see so
96. 2:29many smaller younger entrepreneurs who
97. 2:31do something for Too Short too little
98. 2:32time not enough volume that they might
99. 2:34have been doing the right thing they
100. 2:35just didn't wait long enough or they
101. 2:36didn't do enough of it number five I was
102. 2:38at actually a mastermind and I saw a guy
103. 2:40get up and he seemed so disorganized and
104. 2:43he said yeah you know we're making three
105. 2:44or four hundred thousand dollars a month
106. 2:46it's like we've been stuck here for a
107. 2:47few years Layla and I were actually
108. 2:48together at this point we both looked at
109. 2:50each other and we're like if this guy
110. 2:51can do it we can do it it was one of
111. 2:53those moments that beliefs are broken
112. 2:55because what you find out is that they
113. 2:56are made of the same thing as you rather
114. 2:57than write off this guy's such an idiot
115. 2:59despite bite him being an idiot he's
116. 3:01still more successful than me imagine if
117. 3:03I used my work ethic and my intelligence
118. 3:05and when I shifted my perspective from
119. 3:07that way I was able to start using other
120. 3:09people's successes to fuel me rather
121. 3:10than to make me feel bad it switched
122. 3:12from wanting to cast stones at people to
123. 3:13being inspired by them and thinking if
124. 3:15they can do it so can I within six
125. 3:17months of seeing that conversation
126. 3:18happen we were already doing a million a
127. 3:19month number six at a different event I
128. 3:21went up and I spoke and I told my whole
129. 3:23plans if I wanted to build this national
130. 3:25gym chain be America's next gym the guy
131. 3:27who ran the Mastermind said you know
132. 3:28what Alex I don't think you should do
133. 3:29that at all I was crushed and he said I
134. 3:31think you have a level 10 skill set and
135. 3:32a level two opportunity one of those
136. 3:34simultaneously incredibly encouraging
137. 3:35things and Incredibly heartbreaking
138. 3:37things so it's a very like emotional
139. 3:38moment for me he was both encouraging me
140. 3:40to say that I could have been doing more
141. 3:41and this person from the outside put a
142. 3:43bar up that was significantly higher
143. 3:45than what I was shooting for and that
144. 3:46stretched my Horizon for what I was
145. 3:48capable of and I think getting around
146. 3:50people who can do that for you is one of
147. 3:51the most valuable things you could
148. 3:53possibly have in your life what he
149. 3:54didn't say was a level two opportunity
150. 3:56as he was defining it an opportunity
151. 3:58that has low leverage there wasn't a
152. 3:59very good compounding vehicle for
153. 4:01Capital the fact that I was successful
154. 4:02in what most consider a shitty
155. 4:04opportunity he saw as the skill sets
156. 4:06that would create a much bigger win
157. 4:07later if you are in a lower level
158. 4:09opportunity I wouldn't say be upset
159. 4:11about it I would say you're learning
160. 4:12with extra resistance against you you're
161. 4:14getting stronger now and then when you
162. 4:16go onto the moon where gravity is
163. 4:17lighter you just knock it out of the
164. 4:19park number seven it was a private event
165. 4:20it was ten people everyone was doing
166. 4:21eight figures or more a year and I got
167. 4:23invited a guy came up to me and this guy
168. 4:24had done 27 million dollars in a single
169. 4:26bag holy this guy's made more in a
170. 4:28day than I've been my entire life he
171. 4:29said fat pitches in life don't come very
172. 4:31often when it gets easy is when you need
173. 4:33to go hard otherwise there's someone
174. 4:34who's 10 times bigger than you who's
175. 4:36going to take everything you have and
176. 4:37not even think twice about it that was
177. 4:39literally fueled by that one
178. 4:40conversation if you're like wait how are
179. 4:41you doing three or four hundred thousand
180. 4:42a month taking over 300 I had like no
181. 4:43employees and I was making it all myself
182. 4:44you do have one of those opportunities
183. 4:46that comes up in your life when things
184. 4:47start working really well that's when a
185. 4:49lot of people ease off the gas that's
186. 4:50when they go easy when it gets easy is
187. 4:52when you go hard because you don't have
188. 4:54that many fat pitches in a lifetime you
189. 4:55might get two or three and you just
190. 4:57gotta crack the out of it when it
191. 4:58comes and expect that you're going to
192. 4:59sacrifice some short term for some long
193. 5:01term later number eight the same event a
194. 5:03different guy came up to me he said
195. 5:05you're scared well you're like doubling
196. 5:07every month with this current thing like
197. 5:09why do you want to start a supplement
198. 5:10business what if you just spent three
199. 5:12times as much on marketing and didn't
200. 5:13start us up on the business I didn't
201. 5:14start the supplement business I actually
202. 5:16delayed it for 18 months in the next
203. 5:18three months we tripled the ad spend and
204. 5:19went from 400 to 780 780 to a million
205. 5:22from a million to 2 million just the
206. 5:24next six months because of that piece of
207. 5:25advice and I think the underlying part
208. 5:27of that advice is that when something is
209. 5:29going well oftentimes entrepreneurs
210. 5:31think great I won how can I get another
211. 5:33win but the real win is just doing 10
212. 5:35times more of that thing the hardest
213. 5:37part is getting product Market fit it's
214. 5:38getting people to want to buy The Thing
215. 5:39Once you have that you don't need to
216. 5:41innovate that anymore all your
217. 5:42innovation has to go through how can we
218. 5:44do more volume number nine the next
219. 5:45lesson was from a guy who had a big
220. 5:47e-commerce brand so he was doing like 30
221. 5:49million a year at the time and I was
222. 5:50like oh my God this guy is God he gave
223. 5:52this huge presentation that was like two
224. 5:53hours long he said so pick a percentage
225. 5:55whatever it is 10 20 of your marketing
226. 5:58spend and put that towards new ideas
227. 6:00expect to lose it but when you're losing
228. 6:02it you're gaining the lesson you're
229. 6:03gaining the experience and what happens
230. 6:05is he's like you know four out of five
231. 6:06times my crazy ideas fail he's like but
232. 6:07one out of five they crush and become
233. 6:09the Leading Edge Innovation that pushes
234. 6:11us to the next level I immediately took
235. 6:13a number and I wrote down what my new
236. 6:14learning budget was going to be and it
237. 6:16gave me permission to spend money
238. 6:17without a return immediately you think
239. 6:19big picture he just extended my time
240. 6:21Horizon for a return and so rather than
241. 6:22saying I have to make my money back
242. 6:24immediately within 30 days of me
243. 6:26spending this I said if I extend my
244. 6:28Horizon over my lifetime if I spend this
245. 6:29money I will learn and be better and I
246. 6:31will learn faster than somebody who
247. 6:32doesn't I just gave myself a budget to
248. 6:34say it is acceptable to lose this and
249. 6:36then I committed to that and that was a
250. 6:38huge pivot point for how we were able to
251. 6:39scale and try new things and I looked
252. 6:42forward to spending on my learning
253. 6:43budget every month and it just gave me
254. 6:44permission to be creative knowing that
255. 6:46it would be okay to fail number 10. the
256. 6:48next one I got from a pastor between
257. 6:49Layla and I he gave us a single piece of
258. 6:52marriage advice that we have taken today
259. 6:54we have used countless times in our
260. 6:56lives both in our marriage personally
261. 6:57and professionally in the business he
262. 6:59said if you don't agree don't move
263. 7:00forward it was such a simple piece of
264. 7:02advice because we have always made our
265. 7:04decisions together and if we don't agree
266. 7:06we slow down a lot of times we impose
267. 7:08this false sense of urgency on ourselves
268. 7:09when there's almost nothing that is
269. 7:11urgent like unless you're going to die
270. 7:12which is the only real urgency then a
271. 7:14lot of times taking an extra second to
272. 7:16think okay is there something we're
273. 7:17missing is there a frame that we're not
274. 7:18seeing if we don't agree first question
275. 7:20we always ask is what information are
276. 7:22you using oftentimes one of us will have
277. 7:23data that the other person doesn't
278. 7:25because we have the same values and same
279. 7:26Mission we do ultimately come to the
280. 7:28same decisions that has saved me so many
281. 7:30mistakes number 11. I went to a big half
282. 7:32a billion dollar Mastermind so there was
283. 7:34like 10 of us there and the total sales
284. 7:36of everyone in the room is about half a
285. 7:37billion dollars but I was still among
286. 7:38the smaller ones I think we were doing
287. 7:3930 or 40 million dollars a year at the
288. 7:41time and plenty of guys there we're at
289. 7:42100 you know 200 Etc what do they have
290. 7:45are they smarter are they working hard
291. 7:46are they sacrificing more like they had
292. 7:47a bigger total addressable Market they
293. 7:49had a bigger Tam they were going after
294. 7:50just a much wider audience so you start
295. 7:52small so the riches are in the niches
296. 7:54but at a certain point you do need to
297. 7:56open up the aperture so like Facebook
298. 7:57started with you know college right that
299. 7:59the niche and then slowly spin it over
300. 8:01time I had to open up my eyes and say
301. 8:03you know what maybe I can go broader in
302. 8:04some way number 12. this was one of the
303. 8:06first billionaires that I ever met I'd
304. 8:08been stuck at 30 to 40 million for like
305. 8:09three years there was a lot of learning
306. 8:10that I was trying to do in this period
307. 8:11to break through that wall I was telling
308. 8:13him all these things that I was doing to
309. 8:14try and grow my business and he just
310. 8:16laughed he said it's not about you it's
311. 8:18about everybody else and what he meant
312. 8:20by that wasn't like me versus customers
313. 8:21or anything like that he was like all
314. 8:23you've been telling me is what you're
315. 8:24going to do you need to have a stable of
316. 8:26stallions you need to give people a
317. 8:28slice of the pie and let them get rich
318. 8:31too and up to that point I had hoarded
319. 8:33everything I was like you know what got
320. 8:34me from a 100 million dollar Top Line to
321. 8:36500 million dollar Top Line doing less
322. 8:38and getting really smart people to help
323. 8:39me out and giving them a Big Slice it's
324. 8:41about Talent it's about people you have
325. 8:43to get other people who can make
326. 8:44decisions on your behalf and you feel
327. 8:46not only that they were as good as your
328. 8:47decisions but even better because the
329. 8:49beginning your jack of all trades master
330. 8:50of none but you need to have Mastery in
331. 8:52every Department of the business in
332. 8:54order for it to scale and you can either
333. 8:55see that as I have to learn everything
334. 8:56or the faster way which is I can go buy
335. 8:59it through through other people who've
336. 9:00already given 10 years if I can get 10
337. 9:02people who've all spent 20 years in
338. 9:04their respective departments I basically
339. 9:06have 200 years of experience and if
340. 9:09every person in the organization has
341. 9:10learned everything from you then it's
342. 9:11only one brain and one lifetime that is
343. 9:14the limit of the organization that thing
344. 9:15is what got us past the 30 to 40 million
345. 9:17that was a huge breakthrough for me
346. 9:19number 13. the next conversation I had
347. 9:21was really the one that pushed me over
348. 9:22the edge I have a famous friend I was at
349. 9:24his house and we were sitting at the
350. 9:25kitchen table and I said don't you get
351. 9:26tired of all these weirdos like
352. 9:27messaging you stuff and like sending you
353. 9:29threats and like three people a week
354. 9:30stopping by your house like trying to
355. 9:32climb your fence like it's not like not
356. 9:34fun he said if that's the price I have
357. 9:36to pay to make the impact I want to have
358. 9:37then I would pay it every day of the
359. 9:38week for whatever reason it just like
360. 9:40stabbed me in the heart and it made me
361. 9:42feel like if I want to spread a message
362. 9:44if I want to help more people that
363. 9:45there's a cost to it having now been a
364. 9:47little bit the other side and having
365. 9:48more recognition and whatnot is that
366. 9:49Fame has pros and cons there are cons
367. 9:52but I believe that there are more Pros
368. 9:54than cons are there things that are
369. 9:56inconvenient now absolutely you get
370. 9:57stopped every time you go to dinner like
371. 9:59you get distracted it's harder to be
372. 10:00like private public if you have a bad
373. 10:01day you can't do it because someone says
374. 10:02hi and it's the one time they're going
375. 10:03to see you there are things that are
376. 10:04gone but the pros outweigh the cons you
377. 10:06get amazing people who will come and
378. 10:07want to work with you you get amazing
379. 10:09teammates who otherwise would never know
380. 10:11you exist who also have the same Mission
381. 10:12have the same values and it creates
382. 10:14significantly more alignment and real
383. 10:16world value in terms of economic value
384. 10:18how much money you make by having people
385. 10:20inbound coming towards you I used to
386. 10:22talk about people make guns I was
387. 10:23like you know do cold Outreach and run
388. 10:25ads like don't talk to me but now having
389. 10:27been on the other side of it I can tell
390. 10:28you that it was mistake number 14 big
391. 10:29influencer I said hey you're way further
392. 10:31ahead of me like how do I just shortcut
393. 10:33this thing and so he said hey start
394. 10:35making content on every platform so I
395. 10:36did that and then I came back six months
396. 10:37later and I said hey look we went from
397. 10:38zero to you know 200 000 people in our
398. 10:40audience in six months and you noted the
399. 10:42progress but I was like what's your
400. 10:43blueprint what's the what's the model
401. 10:44give me the flow chart he said dude we
402. 10:46don't have a flow chart anybody's trying
403. 10:47to tell you that is trying to sell you a
404. 10:48system you just need to do so much more
405. 10:50volume than you currently are he said
406. 10:52just pull up your Instagram and pull up
407. 10:53my Instagram so I pulled it up pulled it
408. 10:54up he had posted five times I had posted
409. 10:56once he's like pull up your LinkedIn
410. 10:57pull up my LinkedIn get posted 7 in
411. 11:00times I'd posted once platform by
412. 11:01platform you get pulling one up and he
413. 11:03was embarrassing me with the amount of
414. 11:04content he was putting out compared to
415. 11:06me so in the next six months I put 10
416. 11:08times the content out and we grew 10
417. 11:10times faster the interesting lesson I
418. 11:12learned from this is that there are
419. 11:13principles that are ubiquitous the more
420. 11:15work you do the more you get so the
421. 11:16boring work applies to everything in
422. 11:18business whether it's relationships
423. 11:19whether it's cold calling whether it's
424. 11:21making content the more you do the more
425. 11:22you get number 15. the next one is about
426. 11:24investing I was actually a pretty big
427. 11:26pansy when it came to investing and this
428. 11:28was the Breakthrough I had I had all
429. 11:29this money and people were like I've got
430. 11:30this real estate deal I've got this
431. 11:32crypto thing when you have lots of money
432. 11:34deal flow is not a problem what I didn't
433. 11:36have was a set of rules or parameters
434. 11:37and you have to make those otherwise you
435. 11:39get too much decision fatigue you waste
436. 11:40too much time doing diligence on deals
437. 11:42reading having multiple phone calls
438. 11:43having lawyers come in and then deciding
439. 11:44not to do it this one conversation I had
440. 11:46changed my life he was telling somebody
441. 11:48who had a lot of real estate experience
442. 11:49if you were to put a circle on this
443. 11:51table what percentage of your brain
444. 11:53knows real estate he was like I guess 85
445. 11:55okay what percentage of your brain knows
446. 11:58stocks and stuff he's like 10 or 15 he's
447. 12:00like that is your new capital allocation
448. 12:03parameter 85 of your net worth should be
449. 12:05in real estate 15 should be in stocks
450. 12:07and it was so simple for me I know
451. 12:09business and so what do I invest in now
452. 12:10only businesses only risky if you don't
453. 12:12know what you're doing I can write a
454. 12:13five or ten million dollar check and be
455. 12:15fine if I know if it's a business
456. 12:17because I understand I know what
457. 12:18pitfalls are going to come up like I get
458. 12:19it sticking with that just forever made
459. 12:21my life simpler because now when deals
460. 12:23come to us I'm like that's just not in
461. 12:24my wheel and I can just immediately say
462. 12:25that so the amount of time and effort
463. 12:26and lawyer calls and conversations that
464. 12:29that saved me has paid so many dividends
465. 12:31and now are investing doing
466. 12:32significantly better because it's what I
467. 12:33know and I feel comfortable with it and
468. 12:34I can move way faster number 16.
469. 12:36leverage behind a product Naval has said
470. 12:38you only sell because you know how to
471. 12:39Market you only Market because you know
472. 12:41how to build a product an exceptional
473. 12:42product is a quadratic relationship with
474. 12:45your audience good marketing or good
475. 12:47sales is a linear relationship if you
476. 12:48make an exceptional product something
477. 12:50that's so unbelievable that people
478. 12:51cannot help themselves but tell other
479. 12:52people about it one person buys the
480. 12:54product and they sell two two tell four
481. 12:56four Tel eight how do I do that you work
482. 12:58on it and you keep work on it and you
483. 13:00don't make new products until the first
484. 13:01one's right and if you're like that
485. 13:03might take years that's why good
486. 13:05takes time 100 million offers that book
487. 13:07continues to sell more copies every
488. 13:09month with zero advertising dollars
489. 13:11actually less work in the long run to
490. 13:14build a better thing than it is to build
491. 13:15a shitty thing and then have to spend
492. 13:17the rest of your time marketing and
493. 13:18selling it you want to have leverage in
494. 13:19every aspect of your business and the
495. 13:21product is the strongest one number 17.
496. 13:23the last one I learned from Uncle Warren
497. 13:24the power of brand brand was always this
498. 13:26amorphous thing that I thought was
499. 13:27complete BS I was like you can't
500. 13:28quantify blah blah blah but the thing
501. 13:30and quantify brand and that is what I
502. 13:31learned from Uncle Warren he said the
503. 13:33amount that you can charge above the
504. 13:34commoditized version of your product the
505. 13:36Delta there is the power of brand if you
506. 13:38have a t-shirt that can sell for twenty
507. 13:40dollars normally and can sell for a
508. 13:41hundred dollars with your brand on it
509. 13:43all of that pricing power goes to bottom
510. 13:45line which is why Warren Buffett invests
511. 13:47in Brands it's one of the strongest ways
512. 13:49to retain pricing power the brand itself
513. 13:51becomes a huge compounding vehicle
514. 13:53because the audience and the awareness
515. 13:55around the brand compounds