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"Why Am I Working Hard but Still Not Rich?" | 1 Hour — Transcript

by MoreMozi · 21,626 words · 3,077 segments · language en · Watch on YouTube

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0:00I think you were you answered this
0:02question which was how do you filter all
0:03the information what's changing you
0:06answered it from the point where you
0:08have already figured that out because
0:09now you're like what should I make a
0:10video on you've already decided I should
0:13make a video
0:15>> I don't think anyone's getting to that
0:17>> I think honestly most people are so
0:19overwhelmed like should I learn clawude
0:21code this new thing that's been buzzing
0:23recently or should I learn
0:25>> NFTTS or crypto or whatever um how do
0:30you trust that what you've decided on is
0:35the right thing to do and that you don't
0:36need to go back and
0:38>> check you know
0:39>> I think what you just said was like the
0:40the operative word that Sam said was
0:42trust and so I think
0:45the the scattered brainness comes from a
0:48place of fear is I'm afraid I'm going to
0:51be left behind I'm afraid my stuff's not
0:53going to be relevant I'm afraid if I
0:55don't learn how to code I etc etc etc
0:59I have a belief. I trust that when
1:03something is significant enough that it
1:04actually affects my business, I will
1:07change. Until then, I will continue to
1:10do what I know works, which is that I
1:12will gather attention. I will point it
1:14in a direction. I'll make a compelling
1:15offer, and then I'll deliver on that
1:16promise. And so, fundamentally, like,
1:19especially most of y'all here are below
1:21a million bucksish, somewhere in that
1:23neighborhood.
1:27What makes you money is letting people
1:30know about the stuff
1:33and then delivering the stuff and making
1:36the stuff you have to deliver. Those are
1:38the only components of the business
1:39because for those of you who have a
1:41conversion mechanism that's automated
1:42like the about page, there's no like
1:44real sales motion. You just point it
1:45there. If you do have a sales motion,
1:47you have a sales call or you do a
1:48webinar or whatever, you'll have that
1:49extra step that's in there. But that is
1:51usually a very curated. You don't need
1:54to remake your sales script. You don't
1:55need to remake your webinar once you
1:57know this is the thing that converts.
1:58That's just kind of like a performance
2:00that either gets you know automated or
2:01you just do it on a weekly basis or
2:03whatever. But what are the inputs and
2:04the outputs of the system? The inputs in
2:06the system are more people knowing about
2:08the stuff which means paid ads and
2:10content by and large for most of you
2:12guys. That's the input. We have this
2:14automated conversion for many of you.
2:17And then delivery also for many of you
2:19is relatively leveraged in that like
2:21there's recordings and maybe you do one
2:23call a week. If you have 10 times the
2:24people on that call it still probably
2:25works pretty okay. And so pretty much
2:28everyone here should be spending the
2:30lion share of your time promoting. And I
2:33don't say like in a shilly way. I'm
2:34saying like let people know about your
2:37stuff and do it in a and go two levels
2:39deeper. Spend more time on the problem
2:42in and then let that come out in the
2:44content or the ads. And that's what's
2:46going to to create the differentiation.
2:49So yes, like right now my my my simple
2:52advice is if you have I don't know what
2:54let's assume you work a 12-h hour day,
2:56you can shrink it down to whatever hours
2:57you work. I know we had the French guy
2:58who was like I don't like working more
3:00than four hours per week. Uh it's too
3:02much.
3:04So yeah, right. Shrink that down
3:05according to you. But I just like first
3:08four hours of the day I'm promoting. Uh
3:10next four hours of the day I'm I'm
3:12building the stuff. And then last last
3:14one I'm delivering the stuff that I
3:17built. That's that's the just third
3:20third and just set a timer and stick to
3:22that block. Like don't like have like
3:25some fire camp like you have if you know
3:27what you do every day because it
3:28shouldn't be a surprise to you. There's
3:30slacks, there's decisions, there's
3:31whatevers, but many of you guys don't
3:32have like massive teams you have to deal
3:34with either. And so like if it's not
3:37that, it is a distraction. And so if you
3:40think about f like what is focus? Focus
3:43is doing
3:45is doing one thing which means that
3:47anything that's not that thing is less
3:49focused. Like the most focused video
3:51game player would not sleep, would not
3:52eat, would only play video games. As
3:53soon as they introduce any activity
3:54that's not playing video games, they
3:55become a less focused video game player.
3:57Now, you can't be 100% focused because
3:59you'll die because you need to drink
4:00water, you need to eat food. So, it's
4:01like, okay, well, what degrees of not
4:03focus can I introduce into the system?
4:04But fundamentally, that is it. Like, the
4:07ultimate productivity hack is no.
4:12Is this you seem to understand this
4:14problem, right? Are we getting at it
4:17like the Are we
4:18>> Oh, good.
4:20>> Why do you think these people just
4:21endlessly scrolling and not doing
4:23anything? Like what is going on in their
4:25mind?
4:26>> You're talking about consumers
4:28>> just you seem to know what we're talking
4:30about. Like people do this. They they're
4:32trying to figure out what's going on.
4:33What should I do? And they never quite
4:34figure it out because every day it
4:35changes. Right.
4:36>> Right.
4:37>> And so they never are like I'm this is
4:38it. I'm gonna do this and I'm gonna
4:40ignore everything and I'm just gonna do
4:41it. They don't do that. Like why not?
4:45>> I think just speaking from personal
4:47experience, we try to learn as much as
4:49we can
4:50>> and consume as much as we can and then
4:52we listen to somebody who's a YouTube
4:53expert that says do this. Then we listen
4:54to a copywriter that says do this.
4:56>> And at the end of the day, I know deep
4:57down that everything does work if you
4:59just do it for long enough and get good
5:00at it.
5:01>> But we we get into this circle of
5:04>> Did you did you used to do this sort of
5:06thing?
5:07I used to do more of it. Not not to this
5:10extent.
5:10>> I had a gym. I was like,
5:12>> but you read books and like I read
5:15>> I read books around specific problems
5:17though to be real.
5:18>> But I remember you saying something too
5:19where it's like you were reading all
5:20these self-help books. Oh, that was
5:22before I started business.
5:23>> But even just in general, the concept of
5:24reading all these self-help books and at
5:26some point they all end up contradicting
5:28each other. Totally. And you're like,
5:29"Oh, I'm in the same exact spot. I just
5:30need to [ __ ] pick one and do it." But
5:32I think picking that one gets tough for
5:35>> all a lot of us. I'll I'll give you a a
5:36a wonderful piece of advice that even
5:38very high level entrepreneurs will
5:39forget. So it's something we need to be
5:40reminded of more than taught. But it's
5:42like you will do something and as soon
5:44as it begins to work, do not stop doing
5:46that thing until it stops working. Do
5:48not stop doing that thing because you
5:49fear it will stop working. Do not stop
5:51doing that. Like if it keeps working,
5:53you keep doing it.
5:55>> Repeat successful actions. That was a
5:57success. We should repeat that. We
5:58should do that again. But we did it
6:00yesterday. Do it again. Aren't they
6:01tired of it? Did it work? Yes. Do it
6:03again. I I'll tell you the most extreme
6:05version of this and like why I'm like so
6:07I did the book launch right the second
6:09day there was all this juju about like
6:12uh you have to have a rep pitch is a
6:16different presentation all this type of
6:18stuff I I was so adamant about this that
6:21I was like no I think I can give the
6:23exact same presentation again
6:26same exact presentation and more people
6:28will buy because I believe that it is
6:30about asking again more like it worked
6:33so I will do it again. And so I did the
6:35exact same presentation day two and we
6:37had did like $25 million in sales day
6:39two. Same presentation. Now you're like,
6:41"But would it be different people?" Tons
6:43of the same people. They just watched it
6:46again. We watch reruns
6:49of shows that we already know happened
6:51and we think, "Oh, we I have to somehow
6:53come up with a new business model every
6:55week." If you have something and it
6:57works and you make money from it, then
6:59you have an input output equation. And
7:01so then it's like great h the real
7:04question becomes how can I actually do a
7:06hundred times the inputs. Now part of
7:09that comes from work ethic. The other
7:10part comes just leverage. What kind of
7:12systems can I put in there so that this
7:13one piece of content gets put in 10
7:14places? That kind of stuff.
7:16>> But like school has one of the simplest
7:19business models in the world. Promote
7:20[ __ ] point to page. Cha-ching. Deliver
7:24[ __ ] And I repeat the [ __ ] out of that
7:26on every single [laughter]
7:28I'm like look they have a Instagram link
7:32in bio about page money.
7:35>> Yeah. [laughter]
7:37>> Again and again and again and again and
7:39again and everyone's still like what do
7:40I do?
7:41>> Yeah.
7:41>> But it's the so like so when we look at
7:43that which of those has volume the
7:46conversion is there's no real volume
7:48there. Maybe there's a split test if
7:49that the delivery most of you guys have
7:51fixed delivery and that it's like I do a
7:53call a week. I do some sort of Q&A or
7:55breakdown or review for a pickup guy or
7:57I do a a page breakdown for Evelyn or an
7:59ads breakdown, whatever. Right? That's
8:01it's a fixed backend. It's an automated
8:04conversion. The only thing the only part
8:07of the system that actually you have to
8:09do is the input is the ads. And when I
8:12say ads, I mean in the formal sense,
8:13advertising. Let people know about
8:14stuff. That means content and paid. And
8:16now that content and paid are merged,
8:18it's just content and finding the good
8:20content and then putting more money
8:22behind it so more people see it. That's
8:25it. Traffic, conversion rate, churn,
8:28like one of those things
8:30>> might be the problem.
8:34Maybe all.
8:35>> Maybe all.
8:36>> But I swear most people don't even start
8:38it. So yeah, but we've talked a bit
8:41about this too. is like maybe it this
8:43term for it is too nerdy but like first
8:45party data.
8:46>> Mhm.
8:46>> Cuz I was telling Horoszi once in one of
8:48our calls that I was like [ __ ] I don't
8:50even know when the last time I read a
8:52book was.
8:52>> Yeah.
8:53>> It was like two years ago which seems
8:56crazy, right? If but
8:59um when I when I was younger and I
9:01didn't know what was going on, I would
9:02read a lot and I would take a lot of
9:04courses. I would consume a lot and
9:08that's because I didn't have anything to
9:10do to test if it worked or not. I was
9:14trying to figure out what I should do,
9:16right? So, I was like all over the
9:17place. And then when I finally figured
9:20out, okay, I'm going to do this, then I
9:23did it. And then if it worked, I would
9:24be like, okay, now I'll just make it
9:26keep working or and if there's a
9:28problem, I will seek information to
9:30solve the problem. And then I was
9:32consuming less. But then the more I got,
9:35the further on I got, the less the more
9:38first party data you have from doing it.
9:41And that's obviously so much more
9:43accurate and relevant to you than third
9:45party data, which is other people
9:47cheering what they think worked for
9:50them. Do you do you see what I'm saying?
9:53>> Yeah. And I think that
9:56once you get that first party data, you
9:58can totally tune out a lot of things.
10:01like you can tune out everything that's
10:03going on because none of that if that
10:05matters it will touch the first party
10:08data right like you'll see a movement
10:11and you're like oh maybe that is
10:12important but if it doesn't who cares
10:16and is this making any sense
10:18>> I endorse this message
10:20>> I love figuring out my favorite thing to
10:23do is like I can completely ignore that
10:25I don't give a [ __ ] like that is what
10:27I'm trying to do to everything basically
10:29because I'm trying to figure out what
10:31can I ignore. Um
10:35and I try to ignore a lot really and I
10:40>> should I repeat
10:41>> it's signal versus noise regarding the
10:44the earlier question finding out what is
10:46signal what is noise and once you get
10:49more first party data the signal becomes
10:51stronger the noise becomes smaller right
10:54>> yeah you'll do stuff and then either
10:56your
10:57>> conversion rate will be a problem and
10:58then you consume a YouTube video about
11:00conversion rates and you're like okay
11:01that gives me like six things to try And
11:03until you try those six things, there's
11:04really no point in consuming more stuff
11:06because you just need to try the six
11:08things. And I will say um Leila says
11:10this a lot. Uh which is just like a
11:12great reminder for me. She's like don't
11:14change things when a solution is on the
11:16way.
11:18So like we will we'll be mid split test
11:21on a price thing and be like man our
11:23turn is a problem. It's like we're we're
11:26running the test right now. So why
11:28should ch it's like dude we're we're
11:29mid-flight like unless we land the until
11:31we land the plane if we change
11:33mid-flight everyone dies and it was
11:34complete waste and so some things just
11:37take time is that you just have to let a
11:39certain number of repetitions certain
11:40number of posts certain number whatever
11:42occur so you can actually get feedback
11:43on that data which I think is the sec
11:45once you get into the first party world
11:47that becomes the next issue is like you
11:48want to try too many things even with
11:50the data that you have and then that's
11:52where strategy becomes important because
11:53strategy is prioritization of resources
11:55right and so you have 20. I mean, how
11:57big? I mean, the school list of like
11:59things that we can do with the platform
12:01is longer is very long.
12:03>> There's 2,000 new ones each day um from
12:06you guys. Thank you. Um [laughter]
12:08>> and so you have to pick and so that to
12:10be fair like that at the absolute core
12:13in my opinion is the core of
12:14entrepreneurship is being able to
12:16choose. I have these very limited
12:18resources and time, money, energy, and
12:20there's a hundred things I can do, but
12:22which of these hundred things that if I
12:23were to implement has the highest
12:24likelihood of yielding the biggest
12:25outcome? For most people, you don't have
12:27enough data for it to even make sense.
12:30>> Like ask again.
12:32>> That's why it's not a feature in school.
12:34By the way,
12:35>> uh you know, you are not going to
12:36implement AB testing for about page.
12:39>> It's just not worth it because we see
12:41how much traffic most people get and we
12:43see how schizophrenic their behavior is.
12:45[laughter]
12:46And
12:48we see people think that their about
12:50page change bombed after five clicks,
12:53right? like and they change it four
12:55times in a day with like 20 clicks and
12:58I'm like and they want to AB test it.
13:00I'm like no [laughter]
13:03you need to leave it alone for at least
13:05a week with your amount of traffic right
13:08and I've got this method I use and I
13:10still use it internally at school. We
13:12don't even run a lot of AB tests and
13:13we've got a shitload of traffic, right?
13:15I call it cowboy testing
13:18and I just change it and watch the
13:20number to see if it goes up or down.
13:23And a lot of the time, a lot of the time
13:26I can get away with that [ __ ]
13:28[laughter]
13:29And when it's more sensitive, like very
13:31sensitive, I'll run an AB test and
13:33properly set it up. And I'm still
13:36continuously amazed at how hard it is to
13:37make something that can beat the control
13:40that um I think most people don't really
13:44understand
13:46the the actual underlying mechanics of
13:48an AB test. And if you don't understand
13:50that, you're just going to create more
13:52noise.
13:53>> We ran 16 AB tests on the school games.
13:5614 of them lost.
13:58>> I'll put it this way. This is another
14:00way to look at it, right? So, we've got
14:01the signup page for school. We send an
14:03enormous amount of traffic to that page.
14:04So, it's obviously very important.
14:07We've tried so hard to like make it
14:09better. Most of the time we make it
14:11worse in an AB test, right?
14:14However, if we try a different random
14:16creative on meta, it can work five times
14:19better. So, like the leverage in the
14:21creative is so much more powerful than
14:25the leverage on the the page. It's
14:27insane.
14:29>> I think okay, this is a I want to
14:31continue down this. The earlier on in
14:34the funnel that you are, the bigger the
14:36leverages in terms of the throughput.
14:38So, if you change your your CTRs on your
14:40ads from 1% to 2%, you double the whole
14:43business
14:45for you to do for you, you're probably
14:47not going to double the conversion of
14:48your page. It's just it's just very
14:50unlikely. You might get a 10 or 20% lift
14:52maybe if it's a really good, you know,
14:53improvement, but you could. But the
14:55crazy part is like you absolutely can
14:57get a double or a triple in convers in
14:59in CTR on the ad side and that can get
15:02paired with if it's a really good
15:03creative you might get double or triple
15:05the conversion rate and your CPMs might
15:06be one6th of what they are and so all of
15:09a sudden you have an 18x improvement and
15:11there's just nothing downfunnel that
15:13gets you that kind of gain besides maybe
15:14a 10x or 20x in price or something like
15:16that but like for the actual mechanics
15:18it's very rare and so like these are the
15:20biggest levers in the business are going
15:22to be price all the way at the end
15:23because you can you can make that kind
15:25change and then the the pure volume of
15:28creative on the front.
15:30>> Most people don't have about page
15:32conversion problems. It's what we see is
15:34they mostly need more traffic or they
15:36need a fixed churn.
15:37>> Yeah.
15:37>> Um but you know if your about page
15:40doesn't convert you do have an about
15:41page problem and that is possible. Um
15:45>> so for for example uh we had monthly
15:48subscription which is $9 and then we
15:50added premium and it was only yearly
15:53price uh for 77 and our conversion to
15:56yearly uh rate was like 20%. And then we
15:59add VIP which was 20 249 per year and we
16:04we thought that we're going to increase
16:07the uh uh the RPU but our premium
16:11conversion rate dropped to 5% because we
16:13added third tire. So my point was like I
16:17want to test like different types of uh
16:19about page. Uh so one of them like just
16:22uh uh normal and uh premium and the
16:25second one is just for VIP for example.
16:28Can't you can you cowboy test it?
16:30>> I think you just did.
16:32>> Yes. So, you know what works better?
16:35>> Uh, no. I mean, if I got two tires, the
16:37uh conversion to premium is really high.
16:40But if I run three tires that so the
16:42conversion to premium is uh is not so
16:44good.
16:45>> So, which one works better?
16:46>> The first one. But I already got a lot
16:48of VIP people in the group, right?
16:51>> Maybe do the first one. Uh, so what
16:54should I do with the people who already
16:55bought the VIP for yearly?
16:57>> I don't know. Um, keep keep them or
17:01cancel them, whatever you want.
17:05>> Also, to his point, first party data,
17:08[clears throat] right? Like you can you
17:09can read like, hey, having a high anchor
17:11works in a lot of scenarios.
17:12>> Here's 14 years of business advice in 60
17:14seconds. Sell to the rich until you have
17:16the money to sell to all the poor
17:17people. The middle is where you get
17:19killed. You lack priorities, not
17:21information. Most times it's not that
17:23you lack insight, it's that you're
17:24solving the wrong thing. Business as a
17:26whole will only be as strong as its
17:28weakest link. Your best talent you h
17:31have your best talent is in the future.
17:33You haven't hired them yet. Lots of
17:35rules means you have dumb people. If you
17:37start making stupid rules, it's because
17:38your standards are too low. Every person
17:40you hire, you want to raise the average
17:42bar of the team. A lot of money that you
17:44want to make is on the other side of a
17:46few hard conversations. I would rather
17:48pay 50% more for somebody who can move
17:50me 10 years forward than some 50% less
17:53for someone who keeps me the same or
17:54moves me 10 years back. If you want to
17:56get bigger, get better. Better leads to
17:58growth. Bigger leads to bloat. If you're
18:00going to enter a new marketplace, you
18:02want to be an order of magnitude better
18:03than the existing solutions. It's 100
18:05golden BB's, not one silver bullet, that
18:07creates the outsized returns. You have
18:09to let some fires burn. For the first
18:11four, I work uninterrupted for the first
18:13four to six hours of my day on the
18:15things that I think have the highest
18:16leverage. If you allow everything to be
18:18urgent, it means that everything's a
18:19priority, which means nothing is.
18:21Priorities literally means prior, which
18:22means they come first. Entrepreneurship
18:25at the highest level is always hiring
18:27ahead of where you're at. Branding is
18:29simply an association people make
18:30between something they know and
18:31something they don't know. Between what
18:33you say, what other people say, and what
18:34customers experience themselves, what
18:36customers experience themselves is
18:38always going to be the strongest thing.
18:39State the facts and tell the truth. Do
18:41not make promises you can't keep. Brand
18:43gets you higher returns on advertising,
18:44allows you to price far above the
18:46market, and get people that once they
18:48buy from you, they keep buying from you.
18:50Always ask yourself why you can't do
18:52more. Why can't we 10x this? It's so
18:54much better to spend 100 hours making
18:56one exceptional thing than doing a 100
18:58things mediocrely. What they want is
19:00value per second, not seconds of value.
19:02The magic you're looking for is in the
19:04work you're avoiding. We need to be
19:06reminded more than we need to be taught.
19:07Why do so many entrepreneurs get stuck
19:10chasing the next shiny thing instead of
19:12fixing what's right in front?
19:14>> I think it's a misunderstanding of the
19:16difference between problems and
19:18opportunities.
19:19What people don't realize is that your
19:22problems are your opportunities and the
19:25opportunities often become your
19:26problems. Meaning, if you have something
19:29that's broken within your existing
19:30thing, fixing that will make your
19:31existing thing better and then will
19:33ultimately strengthen the business. If
19:34you have something that's weak within
19:35this business and then you try to pursue
19:36another opportunity, you now have less
19:38attention for the thing that's already
19:39causing problems and this one you just
19:41are unaware of the problems that are
19:42going to come as a result. And so now
19:43you have more problems and less
19:45bandwidth. And so as a result, you are
19:47less likely to succeed. And so
19:51the best way to create the outsized
19:53opportunities is to solve the problems
19:54that are in front of you that you don't
19:56like solving, but that is what the
19:57business requires today. So the framing
20:00question that Leila always asked me when
20:01I when we think through this, she says,
20:02"Is this a problem? Is this a missed
20:04opportunity or problem to be solved? And
20:06just codifying like that means that oh
20:08this is a missed opportunity means we
20:09don't have to think about this now
20:10because it actually only exists in my
20:11mind and not in reality. The problem
20:13exists in reality. And that's what you
20:15need to solve.
20:16>> How do you decide what to focus on when
20:19everything feels urgent?
20:22>> It's a prioritization issue, not an
20:23urgency issue. And so and so imagine a
20:26pilot has a flickering candle. Sorry.
20:29So, imagine a pilot has a, you know, a
20:31cabin light that's flickering while
20:32they're landing with one engine. Okay.
20:34Well, we see that we need to change the
20:36bulb here, but there's also one engine
20:38that's on fire. We should focus on that,
20:40not the flickering light. Like, if you
20:42go into the emergency room, it's
20:43literally called triage, right? Which
20:45is, okay, do you have a broken ankle or
20:46do you have a heart attack? Broken
20:47ankle, you can stay here. Heart attack,
20:49go straight in. And so, fundamentally,
20:51like you have limited resources. And so,
20:52you have to be able to prioritize. Um,
20:54and you have to let fires burn. We have
20:56to accept the fact that there's going to
20:57be problems. They're going to occur. the
20:58business will never be perfect and we
20:59have to say that's okay.
21:01>> What separates a top 1% entrepreneur
21:04from a top 0%
21:06up? Most entrepreneurs think about
21:09strategy the way they think about what
21:11they want to make for dinner. And so
21:13they will go to the refrigerator, open
21:14it up, and say, you know what's inside
21:17of here? Let me see what I can whip up.
21:20Rather than opening their hands and
21:21looking up and saying like, what the
21:23[ __ ] do I want to eat? and then going to
21:25the grocery store, going out to eat and
21:26looking at all the potential options
21:27that exist. And so strategy is the
21:30curation and prioritization of
21:32opportunities. And so the curation part
21:34is that most of them are looking just
21:35with their head in the fridge and
21:36looking at six options. So you have to
21:38be able to see all the potentialities.
21:39And then when you have all the
21:40potentials, the prioritization is of all
21:43things which of these is the most
21:45important. And I think this is this is
21:46where you get your 100x differences in
21:48entrepreneurs. Um because of what
21:51they'll call deconstrained thinking.
21:52People say you should just bur the boats
21:54to go pull in. Is that actually the
21:56right way to take a big risk?
21:59>> Yes or I'm a huge fan in plan of plan
22:03B's. But I want my plan B to continue to
22:06level up. And so I remember that when I
22:08started my business, my plan B was that
22:10if this didn't work and I spent all my
22:12savings on my gym, that I knew that I
22:14could drive Uber and strip and if I
22:16could do that, I'd be able to make
22:17another $150,000 a year, take the extra
22:20cash, and then try over, you know, try
22:21to start over again. Once I learned how
22:23to sell, that was the first real skill I
22:25learned. I was like, "Okay, well, I
22:26could start selling cars and probably
22:27make, you know, 200, 300, $400,000 a
22:30year, depending on what kind of cars I
22:31was selling." And I could do that and
22:32hustle really hard for a year and and
22:34then go back out if I really wanted to.
22:36And then once I learned how to market, I
22:37knew that I could make a million dollars
22:38a year because I could just go get leads
22:40and and sell them myself and then ask
22:42for a significantly larger portion of
22:43the business. And so what happened is
22:45like with every risk that I've had to
22:47take in business, the skill set has
22:49basically given me a backs stop to fall
22:52back to knowing that I can take this
22:54bigger swing because my worst case
22:56scenario is still fine. And I think that
22:58knowing that your worst case is actually
23:00not death is what unleashes you to go
23:03take big swings.
23:05So, I'm not a fan of like, you know, my
23:09wife and kids need me uh and I have a a
23:12really stable job and I've never done
23:14business before and I'm going to quit
23:15everything with no savings and you know,
23:18make this work. I mean, you will
23:19certainly have high motivation, but you
23:22might still not have the skills. Um, and
23:24so there's a chance that you will do a
23:26lot of damage when you could have
23:28otherwise still taken the same upside
23:30with a little bit of consideration.
23:32>> Yeah.
23:33What's a red flag to watch for at
23:35business owners that most people miss?
23:38>> Well, so if I have teammates or
23:41employees or even customers who come to
23:44me with a problem for every solution,
23:47then they are literally making my life
23:49worse at every interaction. So here's a
23:53solution and then they give three more
23:54problems and here's another solution.
23:56Here's three more problems. I want
23:58solutions and you can show your work if
24:01you want to, but unless you have
24:02something to add. This idea is the best
24:06bad idea we have. And so we use that as
24:08like this is our best bad idea and
24:09unless somebody else has a better bad
24:10idea, this is the bad idea we're going
24:12with. And I think you want people who
24:13can come forward with best bad ideas
24:15because it's so easy to sit on the
24:16sidelines and critique but not be
24:18willing to put your own ideas forward
24:20that are kind of in the arena for
24:21everyone else to attack. And so I think
24:23that is a a huge red flag, green flag um
24:25that I think about is like is this
24:27person always offering solutions to my
24:29problems or are they offering problems
24:30to my solutions?
24:31>> Do I need to go viral in order to build
24:33a direct route?
24:34>> I am living proof that you do not need
24:36to go viral to build a brand. I think
24:37you need to do tremendous amounts of
24:38work and demonstrate expertise over a
24:40long period of time in different
24:41conditions that shows a specific avatar
24:45that you can help them with their
24:46specific problem. That's basically it.
24:49And so in a lot of ways virality and
24:52there's tons of people who have clips
24:53that hit lots and lots of views and I'm
24:55sure if you go over to their profile
24:56they don't actually have many followers
24:57at all. And so like if you're a one-hit
24:58wonder uh that nothing really happens
25:01like you have to be able to turn that
25:03attention into
25:06something meaningful for you. And so the
25:08big difference here is that there are
25:09entertainers and there are educators.
25:10Educators are typically going to show
25:12that they can they can solve a problem
25:13for somebody and then that leads to
25:15services or products of some kind.
25:17entertainers, the entirety of their goal
25:19is to simply get attention and then sell
25:22your eyeballs to an advertiser in the
25:24future. And that is the media business.
25:26And so people think of like of like,
25:28okay, I should copy these entertainers,
25:30but the vast majority of businesses do
25:31not need entertaining content. They need
25:33educational content and then as a result
25:35have that lead to products and services.
25:37So no, you do not need your brand to go
25:39viral. A brand can go viral if lots of
25:43happy people talk about your stuff,
25:45which is I think the slow grow or even
25:47fast grow way of getting where you want
25:49to go. Like I think the top video I have
25:52in total has like seven or eight million
25:54views. That's not mega viral. But I have
25:57made like I don't know 100,000 pieces of
26:01content.
26:01>> Should I focus or have quality or
26:03quantitative? We actually internally
26:05call this qu which is how do we do
26:08quality volume and the I think the
26:11answer to that is more around capture
26:14than manufacture. So what does that
26:16mean? You have certain things that you
26:19do in the regular course of business
26:20every day. That's you living and the
26:24answer is not let me just capture all of
26:26this and then post it up there because
26:27that's not going to be quality, right?
26:29And so it's more being deliberate about
26:31how you can choreograph or structure or
26:34prepackage the way you do things in a
26:38way that creates content from doing what
26:41you're already doing where you're going
26:43to have significantly more volume than
26:44you otherwise would. So I'll give you an
26:45example. So like if I'm a dentist, I
26:48want to cap like let's say you say you
26:50see 50 patients a day. I'm making it up.
26:53Well, we know that they're going to get
26:54greeted at some point. We know that
26:55they're going to get work done at some
26:56point. We know that they're going to
26:57walk out and probably have some sort of
27:00uh experience before and after, right?
27:02And so all we need to do is set up a
27:04camera in the before, during, and after
27:05three-term contingency, by the way.
27:07Before, me or like bad, me good. Very
27:11simple. All right? And so you structure
27:13your life so that you can demonstrate
27:14that relationship over and over again so
27:17that you can create a high volume of
27:19highquality content.
27:21>> How should I be thinking about making
27:23content in 2026? So, we're at the
27:26convergence of paid and organic. And in
27:30each of those settings, the people who
27:31are succeeding the most are making the
27:33most total content overall. And so,
27:35there's a number of strategies that you
27:37can do to make shitloads of content. So,
27:39number one, you can have AI inhouse
27:43making tons and tons of statics, doing
27:45tons and tons of post for you. So, you
27:46can have a team of 10 that works like a
27:48team of 100. That is a centralized
27:50approach to this. The decentralized
27:52approach is where you have an army of
27:54people, UGC creators, etc., user
27:56generated content, uh, who do reviews of
27:59your stuff. They post it organically and
28:01they do it for a commission. And so the
28:03goal is basically, how can I build this
28:05community of call it super affiliates or
28:07affiliates that are making, you know,
28:09five posts a week times a,000 of them,
28:11it's 5,000 posts a week. That allows you
28:13to decentralize it. I think that is the
28:14better of the two. Um, but you'll have
28:16less control, which is a downside and
28:17depends on the type, you know, business
28:18you're trying to build. And so
28:20functionally it's either decentralizing
28:22externally or AI enhancing internally.
28:24And those are probably the two primary
28:26strategies for hitting volume. In terms
28:30of brand, I would be thinking about live
28:33and interactive and demonstration. How
28:36do you do things that AI cannot do in
28:39the real world and do in a way that your
28:41competitors will have difficulty
28:42cloning?
28:43>> Is AI going to replace all of us?
28:46>> I don't think AI is going to replace all
28:48humans. I think it'll replace some of
28:49the work that humans do. But if we look
28:52at, you know, let's take a simple
28:54example, uh, chess, right? Robots can do
28:57chess better than humans can do chess.
28:59It can beat everyone. But chess has
29:02grown in interest over the last however
29:04many years. And so, like, how can that
29:06possibly be when there's a robot that
29:07beat everyone? Because people care about
29:09stakes. They care about like real drama.
29:13And so, to put a different example to
29:15this, like, will AI replace Mr. Beast's
29:18videos when he says, "Here's $5 million
29:20and I put 10 people on an island." Uh,
29:23let's see. Well, if you had an AI exact
29:25clone of that video with 10 people who
29:27didn't exist, um, and the $5 million
29:30wasn't real, no one would care because
29:32the stakes is what makes the video,
29:34right? And so that means that right now
29:37in the future, it's going to be leaning
29:38more towards things that are reality
29:40based, IRL based, like are there real
29:42life stakes? This is where live streams
29:44will always be recordings. there there's
29:46going to be experiential like concerts
29:48aren't going anywhere, right? People
29:50still want to go to that stuff. If you
29:51want to go to a stand-up comedian show,
29:53like people want the experience and so
29:55those things AI will not replace uh
29:58anytime soon. And so I think it's just
30:00knowing what are the things that we're
30:01doing that uh do not have stakes that
30:05are not IRL. Those are the things that
30:07are most at risk.
30:11I also think that the industries that
30:14are most likely to get disrupted from a
30:16content perspective are inversely
30:18proportional to the amount of risk that
30:22the consumer takes on by listening to
30:24the influencer that is talking. So for
30:26example, uh a pure entertainment like
30:30meme style thing, yes, I think AI can
30:32replace that. uh hot girl on beach with
30:35butt pictures absolutely can uh get
30:38replaced with AI. Then you start
30:40crawling this way. You're like beauty
30:41influencer who's now doing reviews on
30:43stuff and give you tactics on how to put
30:44makeup on. The risk of buying lip gloss
30:48or eyeliner and then using it based on
30:51what this influencer said that's AI
30:53pretty low. So do I think that there's a
30:55high likelihood of disruption there?
30:57Yes. Now you move on to personal finance
30:59like how I spend my money. Okay, the
31:01stakes are a little higher here. What
31:03about taxes? Okay, if I mess something
31:04up here, I could go to prison, right?
31:06You go into business. And then you go to
31:07enterprise, right? Like the further up
31:09you go this way, the margin for error
31:10goes down. And the more likely you want
31:12an influencer who has real life proof.
31:14So, for example, if you look at even on
31:16the personal finance space, like there's
31:17tons of UGC beauty beauty influencers,
31:19and there's already AI that's disrupting
31:20that AI has disrupted porn, right? Or is
31:23actively doing that. But if you look at
31:25the biggest influencers in the personal
31:26finance space, almost all of them have
31:27huge credibility behind them of things
31:29that they've done, things they've
31:30accomplished, etc. that gives their
31:32advice credibility, right? And the thing
31:34is is that AI will not have credibility
31:35in the real world for a while. And so
31:39you just need to lean on proof which
31:41decreases the stakes for the end user.
31:44So everything comes down to stakes.
31:46>> So guys,
31:46>> I think they keep themselves from being
31:48lazy and complacent with the tools.
31:53>> I think you should totally be lazy and
31:54complacent with the tools. I just think
31:55you should take all the time that you
31:56get back and then just do like a 100
31:58times more using the tools. So it's like
32:00let's say I work an 8 hour day using a
32:02shovel. If there's a bulldozer, should I
32:06only work 10 minutes to, you know, dig
32:08the horse grave or should I work 8 hours
32:11using a bulldozer and do the entire
32:13field and have like the next year of
32:14work done? You just get 100x leverage.
32:16So what's interesting is that there are
32:18psychological and logical solutions. And
32:20so most of the time when we are in
32:22business, we always try the logical
32:24solutions first. If you've tried two or
32:26three logical solutions to solve a
32:28problem, you might want to consider a
32:30psychological solution, which is
32:31something that is irrational or
32:32illogical, but still solves the problem
32:33in terms of a human behavior change. And
32:36so the simplest example I think Roy Sin
32:38brought up in his book um is it if you
32:41have people complaining about elevators
32:43being too slow, you can try and spend
32:44hundreds of thousands of dollars on a
32:45faster elevator. Or you can put mirror
32:48in the elev uh you could put a mirror in
32:49the elevator and then people stare at
32:51themselves and they pick their teeth and
32:52they forget that they're in the elevator
32:53while they're riding it. And they did
32:55the same thing with uh you know the the
32:57trains uh in the UK. It's like you could
32:59spend a billion dollars trying to make
33:00the trains faster or just simply telling
33:02people how many minutes they have to
33:03wait until the train comes allows them
33:05to not feel like their time is wasted
33:07because they know exactly how long they
33:08have to do whatever they're going to do.
33:10And so in those situations, it was a
33:11psychological solution rather than a
33:13logical solution that solved the
33:14problem. And so if you're stuck on
33:15something, try and think of something
33:17totally crazy like, hey, what if I just
33:19put something on top of my pricing menu
33:20that was 100 times as expensive? Let's
33:22see what happens there. It is
33:23irrational, but it still could
33:25absolutely work.
33:27>> What business should I start in 2026 to
33:30make?
33:32>> So, this is how I think through
33:33opportunities at each income goal level,
33:36which by the way, starting a restaurant
33:37that's really successful and building a
33:39billion dollar software company takes
33:40the same amount of life. Uh, one just
33:42has a much more capped upside. That
33:44said, if I wanted to make $100,000 a
33:46year, uh, sales career is probably the
33:48easiest thing um that you could get
33:49into. Uh, if I want to make a million
33:51dollars a year, I would probably look at
33:53a local business, uh, or an education
33:55business. Those are both pretty
33:57straightforward to start. Um, and can
33:59make a million bucks a year
34:02without huge amounts of scale. Um, if I
34:04was trying to go $10 million a year, I
34:06would try and pick a low churn uh,
34:11business. So, basically, you do the same
34:13activities you do in the $1 million
34:15business, except you just have a product
34:16that people keep buying. and then five
34:1810 years later all of a sudden you have
34:19a $10 million business. The difference
34:20is that that that local and sometimes
34:22it's education businesses are faster to
34:24make that million. They just never get
34:26to 10 or 100 because people your your
34:30work never stacks. Uh if I was doing if
34:32I want to go for $100 million a year, uh
34:34it's the same thing as the 10. You're
34:37picking a permanent revenue vehicle uh
34:39that you're chasing after, but you now
34:41have a monster uh front end in front of
34:44it in terms of your ability to acquire
34:45customers. Uh, and then finally, if I
34:47was trying to get to a billion, um,
34:49there's a number of ways of hitting a
34:51billion. Uh, the fastest way to hit the
34:53billion is software. Shest way to hit it
34:56is just having a low tune vehicle like
34:59insurance premiums that go over time.
35:01Um, or
35:04buying, you know, through M&A and
35:06combining businesses that are of similar
35:08kinds. Um Brad Jacobs is a great book uh
35:11you know a few how to make a few billion
35:13dollars uh where he talks about this. Um
35:16but yeah that's that's how I think about
35:18this. But what's interesting is that
35:19like what changes your activities is
35:21literally your goal. And so I think
35:23someone else said this but $100,000
35:25goals are the most common goals which
35:27are actually why they are some of the
35:28most competitive um because everyone's
35:30competing for them. And so like going
35:32after billion dollar things sometimes
35:33it's like you're only competing against
35:3420 people instead of 200,000 or 2
35:36million. What was the logic behind
35:37buying that UFC building?
35:39>> That's dope. It's
35:40>> pretty. [laughter] Yeah. It's a lot.
35:42That's a lot of space. But to go from
35:43someone who's kind of working from home
35:46>> remotely to getting a full-on office
35:48space that it's massive.
35:50>> Yeah. Yeah. Yeah. Yeah. Um
35:52>> how many square feet was that? It was
35:53like 12,000 ft something.
35:55>> It's three floors of 12. It's 36.
35:57>> 36,000 ft.
35:59>> It's 12 12. Yeah. It's It's part of the
36:02part of the grand plan. part of the
36:03grand plan of uh of what what what I'm
36:05investing in. Um so we're we're
36:07investing heavily in media. Um and so
36:10that's going to have a ton of studios uh
36:12inside of it that we're actively
36:14building out right now.
36:15>> A ton of different sets for um different
36:17types of content that we want to be
36:19putting out uh with higher quality and
36:21higher frequency
36:22>> uh in the future. And so that's that's
36:24what, you know, that's that's what I'm
36:27that's what I'm building towards. And
36:28so, uh, having a place where all of my
36:30team could sync up and, um, I could I
36:35could attract talent to come, you know,
36:36here to Vegas is is kind of what we were
36:39what we were shooting for.
36:40>> So, what's what's the grand plan with
36:42with content?
36:43>> Are you trying to like take people under
36:45the horosy brand or?
36:48>> No, I actually I'm actually going to do
36:49more [clears throat] uh me personally.
36:51Okay. um and Leila and just we're it's
36:54more that we're going to we're going to
36:55be facilitating more types of content
36:57rather than more talking ads. Um because
36:59as much as like my quote brand has grown
37:02um that's actually still been the result
37:03of like a half day a week um or every
37:08other week of actual filming and the
37:10rest of it is just the the the awesome
37:11team that we have that knows how to cut,
37:13distribute, repurpose uh content across
37:15different platforms. So, um, but I
37:17actually want to increase inputs, um,
37:19into the machine and, uh, in order to do
37:21that, I I thought it would make sense to
37:22to have to make this type of investment.
37:24>> Yeah. But 36,000 ft.
37:26>> Yeah. Well, I want a massive gym. I want
37:27a massive gym. So, that's like floor one
37:29basically.
37:30>> A whole floor. 12,000 ft of gym. That
37:32makes no sense. 12,000 ft.
37:34>> It's a big commercial gym. Well, half
37:36the bottom the bottom floor, half is
37:37park,
37:37>> but there's no but there's there's going
37:38to be a commercial half. Yeah. 100%.
37:40>> Yeah. But still 6,000 square feet. Yeah.
37:42>> Of gym. Yeah.
37:43>> There's no way there's enough,
37:45>> dude. There's machines.
37:46>> I I barely can fit anything in there.
37:49>> How
37:50>> I I like equipment. I'm a I'm a
37:52connoisseur. I have a I'm an afficionado
37:54of gym equipment.
37:54>> But I feel like you could probably get
37:5699% of the same result.
37:59>> Sure.
37:59>> With 2,000.
38:01>> This isn't this isn't a utility
38:02question. This is all This is all uh
38:04what Alex wants. This is this is my
38:06purses in my in my Cocoa Chanel. Like
38:09she could have a plastic bag and carry
38:10her [ __ ] but like she wants a Chanel
38:12purse. Like I could just have one
38:14shoulder press, but there's three
38:15different brands that make different
38:16ones that I like for different reasons.
38:18>> All right. There is one question I have.
38:20Um there's a space in that building I
38:22think where there's one of those like
38:23roll up things that goes into a space.
38:26>> Yeah.
38:26>> What What's your purpose with that?
38:28>> That's just parking. So I said like
38:29that's the bottom floor is half is uh is
38:31is
38:31>> I thought there's but there's one where
38:33it's kind of like a bit of a it looks
38:35like a bit of a warehouse.
38:36>> Yeah, it's there's the roll up door.
38:37That's the whole that's the bottom
38:38floor. There's the roll up and then
38:39you've got all the parking and then I
38:40mean it has all the pillars. What would
38:42it take for the iced coffee hour to be
38:44able to, you know, get an office space
38:45in there?
38:46>> Got to take it up with Ila.
38:48>> Ila said that she would probably she'd
38:50do it for free. That's what she said.
38:52>> Definitely.
38:53>> She said she don't ask. Don't ask. Don't
38:56ask. It's what [laughter] she said. As
38:58long as it's okay.
39:00>> We've already prepared it.
39:01>> No, I'm I'm stoked about it. But to
39:03answer the question, um, like I want to
39:05I want to there's I don't want to spoil
39:07anything, but we have a bunch of new
39:09shows that we're going to be putting
39:10out, new types of content. Um, new new
39:13characters that we're going to be
39:14bringing in uh to the content. Just a
39:18lot like a lot of really cool stuff.
39:19Like I was super inspired when I went
39:20out to see Dave Dave Ramsey and his
39:22whole setup.
39:22>> Really?
39:23>> Yeah.
39:23>> Yeah. What was it what was it like for
39:24meeting Dave Ramsey?
39:26>> It was great. Dave's I mean Dave was
39:27exactly the same, you know. I mean, as I
39:29expected him to be. I mean, my whole
39:31interview, if you I don't know if you
39:32saw it, was uh was all about business.
39:33Yeah. Like I just want because like he
39:34does he always talks about personal
39:36finances and savings. He kind of has his
39:37like his buzz his buzz things and I
39:38wanted to like try and avoid those to
39:40get to like how how does Ramsay
39:43solutions work and kind of like what
39:44what were some of the strategic
39:45decisions that he made that that led him
39:47to there. Um the thing that I find
39:48really interesting is that he has
39:49somehow managed to have an education and
39:52information business without being seen
39:56as a scam. And I find like think about
39:58anybody else who sells a course,
40:00coaching, events, and an app. Like
40:04that's that's like the prototypical
40:05every other coach, whatever guru out
40:07there.
40:08>> And somehow he managed to do that and
40:10build a $300 million a year
40:12>> uh business from basically the same
40:14ingredients. And I was like, what I
40:16wanted to really get close to like what
40:18made it different for Dave versus
40:20everybody else. And so I think I think
40:22there's two main things. This is my two
40:23cents. So Dave, if you ever see this,
40:25this is my thoughts. Um, one is that the
40:27promise that he was making was something
40:28that is absolutely believable and no one
40:29can fight, which is that if you spend
40:30less money, you will have more left
40:32over. It's very different than most
40:34other promises, which is our make money,
40:36which is like if you if you do this
40:37thing, then you make an extra $2,000 a
40:39month or whatever it is. It's like if
40:40you make 5,000 and you save a,000, you
40:42have a,000 left over. Like there's just
40:45no one can fight you, right? And I think
40:47that really protects him from a from a
40:49promises perspective.
40:50>> Yeah. The other side is that he
40:53absolutely focuses on brand above
40:56everything and his reputation. And so
40:59like an indication of that is that he
41:01does the biggest slice of revenue that
41:03he has is media. Like everybody else
41:06just like right hooks the [ __ ] out of
41:07their audience at all times. And so like
41:09they couldn't even sell media places,
41:11media media spots on their own if they
41:13wanted to because they have like no
41:14goodwill in their audience.
41:15>> But he still deposits so much more
41:17goodwill, provides so much more value at
41:19scale.
41:20um that he's able to make, you know, 10
41:22million a month just on just on media
41:24alone. He shared that on the podcast, so
41:26I don't mind sharing it. Um and then uh
41:30yeah, so those are those are the two the
41:31two big ones. And then the third kind of
41:33bonus takeaway that I had was uh they
41:36run a lot more events than I thought
41:37they did, which I thought was pretty
41:38interesting. They run an event every
41:39week. I was like,
41:40>> I think that's isn't that a newer?
41:42>> I don't know. They have a new they have
41:44that venue, but they're doing one a
41:45week, and I thought that was
41:45interesting.
41:46>> And then the second thing, you know,
41:48bonus B2. um is was the amount of volume
41:52that he was putting in. And that was
41:53part of what inspired me uh to basically
41:55do more was, you know, I figured that he
41:58would spend the majority of his time,
41:59you know, running Ramsey Solutions and
42:01then make, you know, do his show and
42:02then and and whatnot. But when you look
42:04at actual hours, he spends like 20 hours
42:07a week making content. And I also found
42:10that with PBD, he also did 20 hours a
42:12week. Um and some of these other brands
42:15that that you know produce a lot of
42:17content. And when I look at my hours,
42:19significantly less than that. We spend
42:20way more on the portfolio side. And so,
42:23uh, the building was somewhat of a
42:25commitment and investment towards
42:26building towards that.
42:27>> I think what I'm getting from this is
42:29that you were inspired by Dave Ramsey.
42:31>> Yeah.
42:32>> You bought this building and you can
42:34turn your version of business,
42:36>> your Dave Ramsey approach to what you're
42:39doing.
42:40>> Yeah, that'll be an element of it for
42:41sure.
42:43>> Yeah,
42:43>> that's really interesting.
42:44>> Yeah. I mean,
42:45>> yeah. I wish you could tell us more
42:46about it.
42:46>> Yeah. I mean, you'll see it, but uh you
42:48know, I'm I'm a model success, you know
42:49what I mean? I mean, I think that we
42:51will do it a little bit differently cuz
42:52we're, you know, we're us. We talk about
42:53business, we have different subject
42:55matters and whatnot, but I think um I do
42:58it's funny because I've been a remote
42:59only business since I mean basically my
43:02almost my entire career. And so, I mean,
43:04I had my inerson gyms, but even those I
43:06ran from home because you I didn't drive
43:08out to all the locations every day. And
43:10so, um, it's really cool having the in
43:14person now and like seeing people at the
43:16office every day. And I think the amount
43:18that we can influence and teach and and
43:20upskill the team in an inerson
43:22environment is so much faster uh than in
43:24a remote environment. The ability to
43:26influence culture at scale um is so much
43:30faster in an inerson environment. So,
43:31I'm actually just very excited for our
43:32speed of execution that we're probably
43:33going to be able to unlock.
43:34>> Yeah. When is the gym going to be
43:35complete?
43:36>> Probably a month. Well, I'll say it's
43:38stages. So, the entire gym will be done
43:40probably in a month and it'll have the
43:41first wave of equipment. Um, I'll have
43:44equipment orders coming in for the next
43:45year after that.
43:47>> Wow. I really want to go there and work
43:49out.
43:49>> Oh, it'll be the best gym in Vegas
43:51>> and no one will be able to go.
43:53[laughter]
43:53>> No one can go. But Jack,
43:55>> it's not going to be like It's not like
43:56a public gym. I'm not going to like have
43:57a private gym. It's like someone's out,
43:59you know?
43:59>> Yeah. It's my office. I'm not like
44:01having Jack and I have a little bit of
44:03room for a couple of Jack and I could
44:05go, right? I mean, we get an invite. You
44:07just take it up with Ila. I'm sure
44:08she'll she'll be right in terms
44:10[laughter] she for sure said yes.
44:13>> Are you going to put a ping pong table
44:14in there?
44:14>> We already have one.
44:17>> Got it.
44:18>> We game. We ball.
44:19>> Are you living from the office? I feel
44:21like I wouldn't leave. Like for you to
44:22be that efficient, I would live there.
44:24>> Um not as much as you'd think actually.
44:26Um well, we're still to be fair, we're
44:28still like building out some of the
44:29stuff and some stuff's like half done
44:30and so it's be easier for me to do some
44:32things at home. Um but one of the things
44:34that we wanted to be really particular
44:35about was uh we wanted to create an
44:37incredibly rewarding environment that
44:38would encourage people to come you know
44:39as often as possible but not have like
44:41rules as in you don't have to show up at
44:449:00 you don't have to leave you know
44:45stay till 5 like you don't have to come
44:47certain days of the week because we've
44:48been a remote company but the idea was
44:50that we would want to create an
44:51environment that people wouldn't want to
44:52stay home from. And so that's kind of
44:54what we're shooting for.
44:55>> Yeah. When I saw well Jack and I saw Mr.
44:58beast. He turned one of his offices into
45:00a bedroom and it was incredible.
45:02>> Yeah.
45:02>> And it made me kind of think if I were
45:04in that position,
45:05>> I would not mind living.
45:07>> If I were single, I would absolutely
45:09live in the office. If I were single, I
45:10would
45:10>> absolutely. But I bet. But it's big
45:11enough where you and Ila could have
45:14>> 3,000 square ft in this place and you
45:16would never even know.
45:17>> Well, there's already a suite.
45:19>> There's There's two suites that have
45:20full Actually, there's three suites that
45:22have bathrooms and full everything. Um,
45:25and [clears throat] the previous owner
45:26uh was international and so he would
45:27come and he would sleep here or sleep at
45:29the building and then he would fly back.
45:31I think he was like uh Asian. Um, and
45:35uh, yeah, like no, she wouldn't go. Not
45:39even close. Like not a chance, not a
45:40chance on on Earth.
45:41>> To me, that just seems like so much fun
45:43because like the gym is down there. You
45:45>> also just never leave.
45:46>> And I think I think there's like it's
45:48almost creating space to be missed from
45:49from from work too. Like it's nice to
45:51have somewhere to go. And I will say
45:52with the office thing, and Jason, you
45:54can back me up here. I do feel it's such
45:55a different vibe going home.
45:58>> Like home when you work from home all
46:00the time, it's like home and work are
46:02just basically all the time, but working
46:04somewhere separate from where you live.
46:06When you get back, it home feels a
46:07little bit more relaxing, which is kind
46:09of nice.
46:09>> Sure.
46:10>> Yeah.
46:10>> So, you prefer at this point having an
46:12office?
46:13>> I Yeah, I do. I'm super pro office right
46:15now. Really like it.
46:16>> That's something I've not had in a very
46:18long time. I used to go into the
46:19Oppenheim group almost every day pretty
46:22much. I'd be there. Even when I was
46:23mostly doing YouTube full-time, I'd
46:24still go into the office just because I
46:26liked it. I enjoyed just getting out of
46:28the house, going somewhere, seeing other
46:30people work. Literally
46:31>> got me in the zone of working cuz it's
46:33like, oh, everyone else is here. I put
46:34on my headphones and
46:36>> felt motivated.
46:37>> It's exactly that. And I know I'll work
46:38out harder when the team's there around
46:40me. Like, I'm like,
46:41>> I now am going to be able to like
46:43>> be able to record content while I'm
46:44working out, which I don't really do
46:46because public gyms, it's weird. I
46:47already have enough people stop me. It's
46:48like they don't want to draw more
46:50attention. Um, but like I'll be able to
46:52do that at the gym there and that'll be
46:54awesome. So like now I'm actually having
46:55another rewarding
46:57>> uh like stimulus from working out. So
46:58it's like I get to work out and then I
47:00also get to make content. So it's like I
47:01have even more reason to work out. So
47:03it's just giving more more ways to win.
47:05So Adam, 22, want to build a
47:06multi-million dollar business. Should I
47:07start now, fail forward and learn on the
47:09way or spend what you choose building
47:10skills, cash and clarity? To me those
47:12are one and the same. Um, like you will
47:16build skills by failing. So I would try
47:19and try and do stuff. Just being real.
47:23Like do stuff. Uh, learn from it. And if
47:27you can make money while you're doing
47:28it, great. I think that for many people,
47:30one of the the w like a huge leg up that
47:33you can have is working one to three
47:34years in the industry that you want to
47:35get into. Like I think there's just
47:38there's huge upside there because you
47:40don't even know what you don't know and
47:41you learn so many like default ways of
47:44operating because when you have to
47:45[clears throat]
47:46I'll give you an analogy. So imagine
47:48you've got a pile of bricks, right? So
47:52you've got this pile of bricks. All
47:54right, let's say that these bricks
47:55represent, you know, stuff that you can
47:57use to build. This is going to be a
47:58terrible pile of bricks, but whatever.
47:59Okay, and someone says, "Go build me a
48:02building." Right?
48:05So you then try and assemble these
48:08bricks in a in a hundred different ways.
48:10And the thing is is like if you don't
48:12have directions on how to assemble those
48:13bricks, you're not going to know what
48:15assembly is the correct one for a
48:17building. And so the thing is is that if
48:19you have an ideal building in mind,
48:20right?
48:22Then there may be a few ways that you
48:24can correctly assemble the bricks to get
48:26a building, but there's going to be way
48:28more ways to not assemble the bricks to
48:31make a building. And so for me, I would
48:32rather just like kind of like if you're
48:34building a building, like you're
48:35building an IKEA desk, right? If you
48:37don't have the directions and you have
48:39the pieces, you might eventually figure
48:41it out, but it's so much it takes so
48:43much more time than having a model to
48:45look at because you automatically know.
48:47You're like, "Okay, well, first thing
48:48I'm going to do is I'm going to separate
48:49my tools over here. I'm put my screws
48:50over here, and then I'm going to put my
48:51my blocks over here." Great. So, it's
48:53the first thing. That's what you do. And
48:54then after that, you're like, "Okay, I'm
48:56going to look at this picture. There's
48:57got these four legs." And you're like,
48:58"Let me put the leg flip it upside down.
49:00but like one like two like like four
49:01like okay it's almost looking like a
49:02table but if you have no idea and you've
49:04never built a table before you didn't
49:05built anything before then it's way
49:07harder to do and so that's why I think I
49:09would recommend make money earn and
49:12learn
49:14one to three years like my first thing
49:15out of college and like college is
49:17different now than it was then but like
49:18like I did college for three years and
49:21then I worked for two years and then the
49:23next thing I did is I still didn't even
49:24start immediately I then um started as
49:28like an apprentice at a gym because I
49:29wanted to get in the fitness business.
49:30So, I went to a successful gym owner and
49:31said, "Hey, can I like work for free?
49:32Can I mop the floors?" And I was like a
49:34white collar consultant. So, I went from
49:36making I think I actually don't remember
49:38what I made. I knew I had $50,000 in
49:40savings. Uh the reason it's like unclear
49:42is because I I got paid on contracts. It
49:44was like very lumpy. Anyways, um but
49:47anyways, I uh he then basically started
49:50paying me minimum wage
49:52u to follow him around, but like an
49:54amazing ROI for me because he was like,
49:56"Oh, yeah, like email marketing." And I
49:57was like, "What's that?" and he was
49:58like, "Oh, it's this whole thing."
49:59Right? And again, YouTube wasn't really
50:02like around the way that uh when I
50:04started doing this. Um and so I had to
50:06had to learn the hard way. So that being
50:08said, hopefully that helped uh for Adam
50:10in terms of thinking about what to do.
50:12>> Are there different tiers to wealth that
50:14you've noticed like for people that go
50:15from zero to 100, 100 to a million?
50:18>> What are those tiers and when do you see
50:20diminishing returns?
50:21>> I think Felix Dennis has a book called
50:24like it's like how to be rich. I I think
50:26it's how to be I'll teach you to be rich
50:27or how to be rich, something like that.
50:28Anyways, it's funny, but like the first
50:30chapter he breaks down like 11 levels of
50:33wealth. And he says basically after $400
50:36million liquid, he's like that's when
50:38you're truly wealthy. [laughter]
50:40And he's he was, you know, he was worth
50:41that much money. He's like, at that
50:42point, it's like you can really do
50:44whatever you want. I do think that the
50:46jumps are much smaller in the beginning
50:48in terms of what makes a really big
50:49difference. I think going from anything
50:50to about six figures a year is a
50:52material change. Um, I think going from
50:54like, you know, even 10,000 a month to
50:5620,000 a month is a significant change.
50:58Going from there to about 40 or 50 is
50:59another change. And if we think about
51:01like how we're defining the change, it's
51:03usually like what are the variables that
51:05affect someone's daily living. So, it's
51:06going to be where they live, um, the,
51:09you know, the schools that their kids
51:10can go to, the vacations they can take,
51:12where they can stay, uh, the food they
51:14eat, the clothes they wear, like those
51:16are all, but almost all of those are
51:18affected mostly. I would say like up to
51:21kind of like that 1% earning level which
51:23is about $500,000 a year. Now you can
51:25live a baller lifestyle 500 but not
51:28really save anything. And so if you're a
51:29responsible saver it really depends on
51:31your saving. Um I'm actually a lot like
51:33Graham believe it or not even though I I
51:35I spend money cuz Ila spends money but
51:37like by percentage of income I spend a
51:38very small percentage of my income. Um
51:40and so it really just depends on your
51:42appetite for saving versus spending. Uh,
51:44and I think that's entirely personal
51:46because it's really just a question of
51:47risk. Like how much risk am I really
51:48going to take on? But, um, beyond that,
51:51there's that's just a ratio. But after
51:53that, it's like, you know, you're you
51:56have nicer and nicer houses. You go on
51:58nicer and nicer vacations. You travel
52:00private. You know, maybe that's at a
52:03couple million bucks a year. You start
52:04traveling private.
52:07After that, again, it's like it's just
52:08like you're buying boats and you're
52:09buying houses. Like there's you can't at
52:11a certain point, you really can't
52:12consume any more of it. Um, I will say
52:15this is that I do think that, and this
52:17is controversial,
52:18>> um, but I do think that money, um,
52:20because, you know, they they had a
52:21study, it's like up to $70,000 a year,
52:23um, and now like inflation adjusted
52:25probably closer to 100.
52:26>> I actually think it it it continues to
52:28go up beyond that. But I think the
52:30problem is that people have a skill
52:31deficiency in terms of how to spend
52:32money. I think most people know how to
52:35spend money effectively up to $100,000 a
52:37year in terms of how to make their life
52:38better, but they don't know how to spend
52:40it above that in terms of like things
52:41that improve their lives. Like I think
52:43but I think it's a learnable skill. I
52:45think you can get better at spending
52:46money uh to make your life better. And
52:48so for me, things that make my life
52:49better are going to be things that buy
52:50me time back. Um things that basically
52:52are all the annoyances and frustrations
52:53in my life, if I can pay to make those
52:54go away, those are things that net
52:57enhance. Um and then long-term in terms
52:59of purpose, it's like if you find
53:01something meaningful, you can actually
53:02devote real resources and make a change
53:04or an impact, which I think is, you
53:05know,
53:06>> you should see the updated study on
53:07that. That whole $75,000.
53:10No, it was that was done in a in in a
53:13different country with so great.
53:15>> They they did one they did one recently
53:18>> uh well within the last 10 years of the
53:19United States and they found that I
53:21think it was about $150,000 was where
53:24you get peak
53:26>> dollar to value ratio. It continues up
53:29diminishing returns
53:29>> but diminishing returns. And they found
53:31that it the diminishing returns really
53:33stopped about $650,000
53:36about top 1%. They found that over a
53:38million dollars a year, you actually
53:40have lower quality of life. And I'm
53:41guessing it's because you have more
53:43problems,
53:44career issues.
53:45>> Uh or maybe friends are not friends with
53:47you or you have fake people,
53:49>> manage money, which is another like a
53:51whole another thing,
53:51>> right? But it was really Yeah. 650, 700
53:53grand and then it just kind of tapers.
53:55Yeah. After that
53:56>> I would that seems super super
53:59believable. But like after, you know,5
54:01or $10 million a year in income, like
54:03but the next strata is like, I don't
54:06know, 25 maybe 30 40 million a year in
54:09income like where you can do like even,
54:11you know, crazier things, I guess. But
54:14at a certain point when you can buy the
54:15hotels you stay at, it's like like
54:17whatever. I don't know. I don't have a
54:19need for Omega yacht. I think Leila
54:21wants one, though.
54:22>> You should buy a [clears throat] hotel.
54:24Ah, [sighs]
54:25and I think the single greatest
54:27differentiator between the poor and the
54:29middle class, middle class and rich,
54:31rich and the truly wealthy is how they
54:34see time.
54:35>> And if you think about money as simply a
54:36condensed unit of time, right? That's
54:38all money is. Like you trade it for
54:40time. I mean, you can trade time for
54:41money. So like it is their almost
54:43equivalent units. And the people who
54:45know how to master their time the most
54:47mean that they know how to master their
54:48money the most, right? And so really if
54:50you want to master to the original
54:52question of like how do wealthy people
54:53become wealthy is because they master
54:54their time. And so time horizon is just
54:57like the perspective from which we see
54:59what we want to achieve. And so if I am
55:02doing if I'm building a company from the
55:04place of like I believe that this
55:06company should exist. I believe this
55:08problem is worth solving. And that is
55:11where you start it from then you build
55:13it differently
55:14>> versus I need to make money. I need to
55:17make money this week. I need to make
55:18money tomorrow because
55:18>> what can I go make money with?
55:20>> Exactly. And so I think like I mean
55:21you've built this amazing brand here.
55:24>> If if people were able to
55:27>> not ask for 12 months and just serve.
55:30>> Dude, this is what I did when I launched
55:32this cuz I literally sold another
55:34company. I didn't I didn't make that
55:35much, but I had enough for like two
55:36years to live.
55:37>> And I was living pretty frugal. I wasn't
55:39like
55:40>> I never bought anything fancy. It was
55:42like, you know,
55:43>> whatever food and travel maybe, right?
55:45But I was still sleeping on couches back
55:47then, you know, just cuz I wanted to
55:48save and I wanted to spend it on hotels.
55:51I didn't start [clears throat] spending
55:52hotel rooms until about four or five
55:53years ago.
55:54>> Oh, really?
55:54>> I would always find a way. Who do I know
55:56in that town I can crash on? Anyway,
55:57side note,
55:58>> but when I launched School of Greatness
56:0010 years ago, I remember saying, I'm
56:02going to do this for one year cuz I I
56:04wish I had access to this.
56:06>> I wish this was a thing that I could go
56:08listen to.
56:08>> Yeah.
56:09>> In the world to teach me.
56:10>> Yeah.
56:11>> And I'm not going to try to make money.
56:12Like I'm going to do it for a year.
56:14>> Yeah. all in, but I'm not going to try
56:16to make money. I don't want to make
56:17money. I mean, if the money can, great.
56:20>> But it wasn't my intention. It was just
56:21to how can I create the best
56:23>> content to serve people on the things
56:25that I wish I would have learned in
56:26school growing up. Yes.
56:27>> The school of greatness.
56:29>> And after one year, I was like, man,
56:31this thing is really starting to take
56:32off. Yeah. You know, but it wasn't based
56:34on how do I make as much money.
56:36>> Totally.
56:37>> It was how do I create something that
56:38can really make a lasting change.
56:40>> Yeah. And that intention is what's made
56:43me sustainable for 10 years loving the
56:46process.
56:46>> Totally.
56:47>> So when people come from a place I'm
56:49hearing you say when they come from a
56:50place of that intention of service or
56:52because this needs to be in the world.
56:54>> It's art. Art exists not to do
56:56something. It exists to exist.
56:57>> Right.
56:57>> It's like no one says why did you paint
56:59that?
57:00>> It's like
57:00>> it needed to come out to express it.
57:03>> Exactly. And so I think that if people
57:04chose their businesses that way, I
57:07think, and don't me wrong, I'm all about
57:09making money. Like, by all means, go get
57:11your bag, you know, as much as you can.
57:12>> Yeah, by all means. But I think that
57:14what it does is it ends up freeing you
57:15to then make your real impact because
57:18then you can start the whatever the next
57:20thing. And hopefully your first thing is
57:21that thing. But realistically, it
57:22probably isn't. And all you have to do
57:23is look at every entrepreneur that's
57:24really wealthy, the amount of graveyard
57:26businesses they have in their back,
57:27right? And so like right now, if you're
57:29listening and you're like, I'm not sure
57:30if this is the perfect business idea.
57:32Let me just save you the time. It's not
57:33because look at every other person who
57:35has been ultra successful. They have 10
57:37failed business ideas. So just like just
57:38start so you can just start notching off
57:40the bad businesses, right?
57:42>> But extending the time horizon I think
57:45only happens if you do shift the
57:47intention through which you're building
57:48it
57:49>> or you're just unbelievably
57:51self-disciplined. But I think it's
57:52easier to just like start at it with the
57:54right heart because small tangent, but I
57:57think it'll be worth it. Is that the
57:58reason that most people aren't
58:00successful in my opinion is that they
58:02sacrifice global benefit for local
58:03benefit. And that happens in all areas
58:05of life. You eat the piece of cake
58:07because you have an acute local benefit
58:09versus the global benefit of a six-pack
58:10that lasts for a very long time or
58:12better health, etc. Right.
58:14>> You mean the instant gratification as
58:15opposed to delayed gratification.
58:17>> Yes. Exactly. And I just I like saying
58:19global. I just like saying local versus
58:21global because it it it happens in an
58:23organization. For example, sales guys
58:25don't want to put the notes in the thing
58:27because it's a pain in the butt to put
58:28the notes in the CRM, but finance needs
58:31the notes, customer service needs the
58:32votes, success needs the like all of
58:34these other departments need those notes
58:36for all the other things that we're
58:37going to do. And so it's a local cost
58:39but for a global benefit. And so I think
58:42if people were able to delay that
58:44immediate gratification which is like
58:46this is the nature of success. I think
58:48funny man.
58:49>> There was the study that was done. I
58:50can't remember it.
58:51>> The marshmallow test or the other
58:53>> Okay. God, I can talk about the
58:54marshmallow test. Okay. So, fun fun one
58:57with that with the marshmallow test is
58:59measuring how long they delay for the
59:03marshmallow.
59:03>> Uhhuh.
59:04>> So, at what point does it not make sense
59:07if they say you can get one because
59:08because they like everyone simplifies
59:10the experiment which is like if I give
59:12you a marshmallow one now or you can get
59:13two later, right?
59:15>> But what if two is in a year?
59:16>> Yeah. You're like I don't I'll take the
59:18one now.
59:18>> Right. So then the next question I would
59:20have is like if you were to test kids
59:23and then say at what point the global
59:24versus local crosses would be and then
59:27track the kids who had the longest
59:29marshmallow waiting period cuz then you
59:31could measure how long successful
59:33probably life
59:34>> really interesting just total side note
59:36but the three things that I think were
59:38in common of the ultra successful were
59:40uh inflated sense of self as in they
59:42thought that they like they deserved big
59:44things. They wanted to go after big
59:45things. They believed in themselves,
59:46right?
59:47>> Inferiority, never being good enough,
59:50>> and impulse control.
59:52>> Those are the three factors of the most
59:54successful.
59:54>> Like when they did a common factors
59:55analysis, like these people think they
59:57believe that they can achieve all this
59:58amazing stuff and then it's just it's an
1:00:00amazing paradox because at the same time
1:00:03they think they're not good enough and
1:00:04they are insecure about whether they
1:00:06they can achieve it and they have
1:00:09impulse control.
1:00:10>> And so it's like if you have Yeah. Yeah.
1:00:12Yeah.
1:00:12>> And they just they they and they stay
1:00:14focused on the thing. And what I like
1:00:17I'd say the biggest breakthroughs that
1:00:18I've had I think that will create a lot
1:00:20of the wealth that we will have in the
1:00:22future is is really a deep understanding
1:00:25of how long long is. And shooting with
1:00:28the intention of like I'm only bringing
1:00:31this up cuz my YouTube guy said it. He's
1:00:32like I've never had somebody who
1:00:33actually started. I was like we'll see
1:00:35what we do in 5 years. [laughter]
1:00:37>> I was like we'll measure that. And he
1:00:38was like no one has literally ever said
1:00:41that to I was like, "As long as I see
1:00:42progress, I'm good."
1:00:43>> Cuz everyone wants results in like two
1:00:45months. Yeah.
1:00:45>> Yeah. Yeah. Like if we're making if
1:00:47we're going this way, I'm cool. I don't
1:00:49need to like that's good enough for most
1:00:51people. If if they could extend the time
1:00:53horizon because like I'll give you
1:00:54another hack. You can know how wealthy
1:00:56someone is based on the time horizons
1:00:58they speak in.
1:00:59>> Give me an example.
1:01:00>> So if someone's talking about how
1:01:01they're trying to make, you know, make
1:01:02money this today, hey, let me hold 20
1:01:05for today. You know how you know how
1:01:08poor they are. I have to say poor. Like
1:01:09you know how important they are, right?
1:01:11If someone's talking about what they're
1:01:12going to make this week or this month
1:01:15>> or this quarter or this year or this
1:01:18decade, think about how different the
1:01:20people are who are talking in those time
1:01:21horizons.
1:01:22>> And so I think that if we can shift the
1:01:24time horizon that we think in
1:01:26>> then we gain more leverage over our time
1:01:29which we then know we will compound into
1:01:31money.
1:01:31>> Yes.
1:01:32>> Because I think if you can master the
1:01:33time, you master the money. M so I'm
1:01:35curious where those opportunities are
1:01:37today because it seems like every few
1:01:38years in hindsight you could look back
1:01:40and be like that was the best time to do
1:01:42that. What are what's going on today
1:01:44that people aren't recognizing the
1:01:46potential in?
1:01:47>> Well, I think there's micro and macro
1:01:48opportunities. So like from the macro
1:01:50perspective I think we've had like three
1:01:52big ones. So at least in my lifetime. So
1:01:54it's like we've had internet uh which is
1:01:57like kind of opportunity number one. Uh
1:01:58opportunity number two is kind of like
1:01:59web 2.0 which is social. Um, and then
1:02:02opportunity three is AI. Now, so there's
1:02:05the three macro ones. Now, underneath of
1:02:07that, it's kind of like, well, Facebook
1:02:08ads was kind of like a like an
1:02:10opportunity kind of like within that.
1:02:11And then like Google search was an
1:02:12opportunity. Like all of those are kind
1:02:13of like sub uh kind of like micro
1:02:16opportunities like I think like Tik Tok
1:02:17shop right now. Um, a lot of people are
1:02:19kind of kind of like in that Amazon of
1:02:212013 14. Like I know a lot of people who
1:02:24are who've really never done much and
1:02:26then just like within 60 90 days are
1:02:28doing a million a month. And it's just
1:02:31because there's a huge supply demand uh
1:02:34discrepancy between the amount of
1:02:35influencers that are there that want to
1:02:36make money and the amount of products to
1:02:37sell and they will just continue to
1:02:39populate it until eventually it becomes
1:02:41a stabilized market. But it's like when
1:02:42those when those market those land grabs
1:02:44occur, that's when there's typically
1:02:46outsized returns to be had.
1:02:47>> What do you think people need to be able
1:02:49to capitalize on these opportunities?
1:02:51>> I think you have to have skills.
1:02:53[laughter]
1:02:54>> Just straight up.
1:02:54>> Yeah. Like you just have to have skills.
1:02:56was like I remember it was really funny
1:02:57like um our first ever conversation that
1:03:00we had um I was like man if I had your
1:03:03amount of following I was like I'd be a
1:03:06billionaire
1:03:07>> and I saw that as a supply demand um
1:03:11like and even so like when you asked
1:03:12just a few minutes ago like you know
1:03:14what's the what things are there now
1:03:16like I still kind of see social media
1:03:18still thinks there I still think that
1:03:19opportunity exists for people if you're
1:03:21good but maybe it's less so than when
1:03:23Instagram came out in 20 whatever year
1:03:26it was, uh, when you could just like
1:03:27just post pictures of you on the sunset
1:03:29and have like a million followers and
1:03:30and people would just buy because you
1:03:32had just had this insane reach. But I
1:03:33saw it as a as a as a the fact that we
1:03:36could still this the fact we could still
1:03:38advertise ourselves and get paid to do
1:03:40it is still mindboggling to me that that
1:03:42like opportunity exists. Like you can
1:03:44build a brand and get paid to do it,
1:03:46>> which I think is insane.
1:03:48>> Okay, so now it's arguable that you have
1:03:50his brand, if not even a bigger brand. M
1:03:52>> are you did you accomplish that goal?
1:03:55>> I I won't be public about what our stuff
1:03:57is valued at, but I think that
1:04:01>> we've done well.
1:04:02>> Yes.
1:04:03>> Yeah. [laughter]
1:04:04>> The classic answer. That makes that
1:04:06makes a lot of sense. Okay.
1:04:07>> Yeah. Yeah. I don't I don't want to I
1:04:08don't want to make uh claims around
1:04:09things market values for enterprise
1:04:11value for illquid assets like private
1:04:13equity investments and you know,
1:04:15companies that are owned really depends
1:04:16only on the time that somebody's going
1:04:18to buy it. Um I have had um some of the
1:04:21biggest banks that you've heard of,
1:04:23things like that, out to this
1:04:24headquarters um to see what we have
1:04:26going on and they've been like,
1:04:27>> "This is going to be a fun one for
1:04:29everyone. Um hey, Alex. So, uh
1:04:33a lot of people over these last three
1:04:35days are are starting to post on the
1:04:39internet saying, "Hey, I'm
1:04:42>> the break.
1:04:42>> I'm I'm going to break down the Hormosi
1:04:45funnel. I'm going to tell you how Alex
1:04:47did this. is I'm going to tell you how
1:04:48acquisition.com pulled off the world
1:04:50record and
1:04:53I'm going to wager that no one knows
1:04:56cuz all everyone sees is just this. Um
1:05:00so my first question for you is I want
1:05:02you to maybe share briefly outside of
1:05:06>> Thank you. Thank you guys in the chat. I
1:05:07appreciate the reinforcement. outside of
1:05:09outside of the book and the playbooks,
1:05:12could you maybe talk about just for a
1:05:14second on
1:05:15>> the time you spent writing all the other
1:05:18things like what were the other things
1:05:20that you wrote? Talk about like the
1:05:22emails, the what just list people list
1:05:24something out because I want to I want
1:05:26to show how much effort went into that.
1:05:30>> A lot. Um so obviously there's there's
1:05:34there's 12 playbooks. Um, and that's
1:05:37it's it's like it's a lot. Like you
1:05:39stack it's a lot. That's 12 playbooks
1:05:41right off the bat. That's one thing. Um,
1:05:44the the Lost Chapters is an entire other
1:05:46book. It'sund
1:05:48It's
1:05:50let me see how many pages this thing is.
1:05:52It'sund and
1:05:5415. It's the same length as offers,
1:05:56>> right?
1:05:56>> All right. So, the same length as
1:05:57offers. Uh, and there's the money models
1:05:59book. So, there's two books there. I
1:06:01also made the 70 business tactic audio
1:06:06book which was a prize for anybody who
1:06:08referred 10 friends. So it's it's 12
1:06:10books plus three.
1:06:11>> Mhm.
1:06:12>> Then I made the affiliate blackbook
1:06:16which was basically the full playbook
1:06:18for affiliates to promote the launch and
1:06:20all the stuff that they needed
1:06:21collateral to do the promotions.
1:06:23>> So let's explain what that like. That's
1:06:24text messages, that's emails, that's
1:06:26posts, that's ads, that's all the entire
1:06:28affiliate plug-andplay playbook. Yeah.
1:06:31>> So, how long did it take you for example
1:06:33to write and edit money models?
1:06:41>> It was shorter than leads. Leads was the
1:06:42hardest [ __ ]
1:06:43>> Leads was rough.
1:06:44>> Leads was tough.
1:06:46>> Leads was tough. Um,
1:06:48money models was probably
1:06:52say, thousand hours.
1:06:55>> 1,000 hours.
1:06:56>> Yeah.
1:06:56>> And how many pages is it?
1:06:58Uh, I think it's 187.
1:07:01It's big text though or big big pages.
1:07:03Excuse me. [snorts]
1:07:05>> I know. No.
1:07:06>> 180ish.
1:07:07>> Yeah.
1:07:07>> Guys, it's really hard to make a book
1:07:09this big, by the way. It costs way more
1:07:10money to make big books than small
1:07:12books. So, like we put effort into this
1:07:13to make them look
1:07:14>> Yeah.
1:07:14>> and easy to read for you guys. So, like
1:07:16the reason the books are big, Alex is
1:07:18very specific about it. We want to make
1:07:19sure it's easy to physically read the
1:07:21book.
1:07:21>> I want it to feel like a textbook and at
1:07:23the same time I want it to feel like a
1:07:24kid book.
1:07:25>> Yeah. That's partially the reason that I
1:07:27they're all big and colorful. Um they've
1:07:28got so many pictures because like if I
1:07:30if I if I if I really do believe
1:07:33[snorts] what I say I do, which is that
1:07:34I'm trying to help as many entrepreneurs
1:07:36as possible start businesses, then I
1:07:37have to meet entrepreneurs where they're
1:07:39at, which sometimes is they're not even
1:07:40entrepreneurs yet.
1:07:41>> And so, uh like you will never hear the
1:07:44term cash conversion cycle inside of
1:07:46this book. Some of the more advanced
1:07:47business owners understand what that
1:07:48concept means. But I will describe what
1:07:50a cash conversion cycle is, which is
1:07:51like you get more customers to spend
1:07:53more money in less time. That's what
1:07:55happens right now. Now the end result of
1:07:56that is you speed up the cash conversion
1:07:58cycle which means that you can cash flow
1:08:00basically you can I'm going get you guys
1:08:02already you already saw the presentation
1:08:04is also like the more advanced you are
1:08:06the more you don't need to speak in
1:08:08>> right
1:08:08>> in that language anyway we don't speak
1:08:10like that what's our cash we're like
1:08:12>> uh okay make more money you know how can
1:08:15we do it faster so uh that's talking
1:08:18about the writing component then you did
1:08:19the recording component the full audio
1:08:21book
1:08:22>> yeah so yeah the recording the full
1:08:24audio book I also did yeah and the and
1:08:26and the actual course.
1:08:28>> Yeah, that's I actually refilmed the
1:08:30course three times.
1:08:31>> Okay, he did that was really big.
1:08:32>> Horrible.
1:08:33>> Yeah.
1:08:34>> Yeah. Horrible. But yeah, I just like I
1:08:36did it and then I was like, I can make
1:08:38it better. And so then I did it again
1:08:40and I was like,
1:08:40>> well, so
1:08:41>> I can make it better.
1:08:42>> I just want to call out for this is a
1:08:44lesson for folks where, you know, hand
1:08:46me a book. This is a lesson for folks
1:08:47where they're like, I wrote a book.
1:08:49>> Yeah.
1:08:50>> What people don't understand is this is
1:08:52the artifact. This is the prize. And
1:08:55then there's 500 things that go around
1:08:58this to explain why this is the thing,
1:09:00right?
1:09:00>> Yeah.
1:09:01>> Um then
1:09:04everything launch related started. So
1:09:06Leia, I have a question for you. How um
1:09:08>> this launch process?
1:09:09>> Yeah.
1:09:10>> The process of actually getting
1:09:13someone to own the launch, build the
1:09:15launch, you you you kind of set up and
1:09:18set the vision for that. Talk about that
1:09:19for a second.
1:09:20>> Well, [snorts] we ended up rescheduling
1:09:22launch twice. So a launch this big, you
1:09:25know, we had had it planned, but then
1:09:27acquisition.com was growing so fast that
1:09:30pretty much all of our internal
1:09:31resources got sucked. And so it was
1:09:33really like, do we want to launch sooner
1:09:34or do we want to launch, right?
1:09:36>> And so then when it got to the point of
1:09:39like, okay,
1:09:41>> how can we? And it was essentially like,
1:09:43I mean, in the last two quarters, we
1:09:44brought on six new leaders,
1:09:47>> one of which was somebody to own this
1:09:49this project through and through. Um,
1:09:53>> and you got relief with Shawn.
1:09:56>> Well, yes, Shawn's here. Yes, that was
1:09:58enormous.
1:09:59>> Um,
1:10:01>> and I think that every single person
1:10:04>> I do not think it could have gone this
1:10:07well without every single person that we
1:10:08brought on.
1:10:09>> Yeah.
1:10:09>> Like specifically.
1:10:10>> For sure.
1:10:11>> Yeah. Um, and I think you know a couple
1:10:13of them replaced people too that we felt
1:10:14like I was like I can't launch and have
1:10:17any weak links in any area that is a
1:10:21threat to the launch.
1:10:22>> Can I can I I'm going to piggyback on
1:10:23this because I I'll share something that
1:10:25Laya probably won't won't say for
1:10:26herself but like
1:10:28>> one of the reasons that Ila is such a
1:10:30good leader and she is the internal
1:10:31leader of this company to be very clear
1:10:32like I I have a lot of public like I'm
1:10:34more public facing like to the degree
1:10:36that I'm public facing is internal
1:10:37facing. Um, and so like if you see brand
1:10:39publicly, we see that as culture
1:10:41internally. And one of the biggest ways
1:10:43that she reinforces culture is that she
1:10:44just simply is not okay with mediocrity.
1:10:47And so I think the VA like so many and
1:10:49it takes a very long time as a business
1:10:50owner. Many people don't graduate to
1:10:52this next level, which is just that they
1:10:53accept okay candidates. And it's like
1:10:56the people that like they never really
1:10:57do anything wrong, but they're just like
1:11:00they can never really own anything. You
1:11:02know, you kind of always have to check
1:11:03in and kind of nudge things along. And
1:11:05they're okay. And you know what? And
1:11:06they're not they're not mean. Mhm.
1:11:07>> They're well-intentioned. They're just
1:11:09they're just kind of there, you know,
1:11:10and um so many businesses unless you
1:11:13prune the tree and otherwise you can't
1:11:16grow because you have all these stunted
1:11:17branches that just weigh the whole tree
1:11:19down and you can't actually get the
1:11:20vertical growth that that you're looking
1:11:21for.
1:11:22>> So, you're great at that. You're great
1:11:23at pruning the tree to keep the whole
1:11:24culture healthy.
1:11:25>> Thanks. I think that going with that,
1:11:27you know, a lot of people, if we saying
1:11:29behind the scenes of launch, I'll just
1:11:30put it out there because I I don't care.
1:11:32Um you know, a lot of people ask, you
1:11:34know, who helped? Who' you guys sell?
1:11:36all this stuff. Um, I think that's
1:11:39messed up and I don't like that cuz it's
1:11:40our team. Like the reason this happened
1:11:42was like the vision that was set, the
1:11:44work, the insane work that was put into
1:11:46all these products and then the people
1:11:47that helped are the people that work at
1:11:48acquisition.com. Like that is who helped
1:11:51make this happen. And it's because we
1:11:53have amazing team, amazing people who
1:11:55were able to pull something off that
1:11:56many of them have never done before.
1:11:58Actually, I don't think any of them have
1:11:59done anything close to this. None of
1:12:01them have done a launch before like
1:12:02this.
1:12:02>> Yeah,
1:12:02>> I can say that. Well, I I'll tell you
1:12:04the interesting part that a lot of
1:12:05people don't know, and I'm I can go on
1:12:07record saying this is
1:12:09uh whatever funnel hack you want to do,
1:12:11you can't do this. Just telling you
1:12:13right now, you can't do this. And let me
1:12:15tell you why, right? Because most people
1:12:17try to do a book launch and that's not
1:12:20what we did. We have a business that
1:12:23helps businesses.
1:12:25So, we have an entire sales team. And if
1:12:29you had to turn on and spin up a sales
1:12:31team and teach them not just the skills
1:12:33but to also care,
1:12:34>> it is very hard to do. We have an entire
1:12:37media team to turn on an entire media
1:12:39team to run all the operations around it
1:12:41to come up with the entire $100 million
1:12:43green man concept.
1:12:45>> I I had nothing. I just I had zero to do
1:12:47with the green man. Nothing.
1:12:48>> It is impossible.
1:12:49>> It was their idea. It literally I I
1:12:51scripted none of it. I had I just was
1:12:53like they were like can we do this thing
1:12:55because and because it's such a good
1:12:57team they were like we know that you're
1:12:59really busy with the launch and that
1:13:01you're preparing you know the the slide
1:13:02presentation that you guys saw which was
1:13:031 1700 slides
1:13:05>> uh and you need to practice and all that
1:13:06stuff like can we just take over some of
1:13:08the content and we'll make it and
1:13:10[snorts] they were smart about it.
1:13:11They're like we're going to make it
1:13:12faceless. So it's not like hey we're
1:13:13trying to promote ourselves on your on
1:13:15your behalf. It's like no we'll just
1:13:16create it was super smart and they
1:13:19crushed it. They're like, "We're just
1:13:19going to ride these viral trends."
1:13:20>> Yeah.
1:13:21>> Um but like make them business and book
1:13:23audience. And I was like, they crushed
1:13:24it.
1:13:24>> Well, and then you've got sales and
1:13:26marketing, but then we also to run all
1:13:29of this, we run events as a business.
1:13:32>> So we have a full events team. So to be
1:13:34able to actually do all of this,
1:13:36>> then you have an entire technology
1:13:38backbone to run
1:13:39>> all the technology, all the software,
1:13:41all the dashboards, entire process, all
1:13:43this, everything that you're all seeing
1:13:44on screen. You can't just pull up a team
1:13:46and go to a conference room at a hotel
1:13:49to do something like this. By the way, I
1:13:51will tell you about the unsung heroes in
1:13:53all of this. There is finance that runs
1:13:55in the background that has to reconcile
1:13:58all the monies across all the continents
1:14:00that all this is happening. There is
1:14:02legal that if you think that is not, you
1:14:04know, that's that's super super hard to
1:14:06do. Yeah, you guys that are all in
1:14:07different countries like we have to
1:14:08consult with CPAs that understand how to
1:14:10submit for tax returns in every country
1:14:12which by the way there's some countries
1:14:13you have to submit the tax returns in
1:14:15the country's language like uh there are
1:14:18certain countries in Asia where you have
1:14:19to submit it in their language so then
1:14:21you have to hire somebody who knows how
1:14:22to do that like there is just so much
1:14:24that goes into something of this scale
1:14:25>> us getting countries 80 countries turned
1:14:27on was like a herculean fee
1:14:29>> and we didn't know all this on the first
1:14:31launch and it was a freaking nightmare
1:14:32because then you find it out after when
1:14:34you're like oh wait submit this Hong
1:14:36Kong.
1:14:36>> Yeah. Yeah. We actually Hong Kongian. Is
1:14:38that what you just said?
1:14:40>> Mandarin Chinese. Yeah. But here's the
1:14:42other crazy part. And Alex, I love how
1:14:44you talk about this. The amount of time
1:14:46like some many of you think that you can
1:14:48funnel hack this, but what you don't
1:14:49realize is how many memos went into
1:14:51creating the the entire flow of the
1:14:54donation model that we have because I
1:14:58every time this was a talk, write a
1:15:01memo, get it by the strategy team, talk,
1:15:03write a memo, get it by the strategy
1:15:04team. We had to talk right we and we did
1:15:06this over and over and over again. There
1:15:08were several audles called as well. So
1:15:10you may think that you can put this
1:15:11structure together but that's why we're
1:15:13giving away in this as a part of the
1:15:15launch bundle the entire kind of launch
1:15:17blueprint for you to see the internal
1:15:19memos that went into creating this.
1:15:21>> That was only for the uh during
1:15:23>> people who were there for the live. So
1:15:24sorry if you were there for the live you
1:15:25will like you'll you'll get the launch
1:15:27bundle.
1:15:27>> Um so so couple more questions. What um
1:15:33Leila, you ran the last launch?
1:15:35>> Mhm.
1:15:36>> Mhm.
1:15:36>> What was what was different for you?
1:15:38What did what did you see from an
1:15:40upgrade perspective from the last launch
1:15:41to the previous launch? [snorts]
1:15:42>> Honestly, the biggest upgrade was that
1:15:45we took everything into our own hands.
1:15:47>> Like we took the time like we used our
1:15:50internal business and essentially
1:15:52>> rented it to the launch.
1:15:54>> Yeah.
1:15:54>> And before we said, "Oh, we don't know
1:15:56how to do this. We've never done a
1:15:57launch before." So, we should rely on
1:15:58people who have. relying on the people
1:16:00who had was why we didn't get the result
1:16:03we wanted, right?
1:16:04>> Was why things broke.
1:16:05>> Yeah.
1:16:05>> And so this time it was like, okay,
1:16:07we're going to we had before this
1:16:09launch, you know, 3 days that were
1:16:11intensely training our team on the
1:16:12specifics of this launch. They already
1:16:14have know how to do the work. They get
1:16:16our culture. They get our values. They
1:16:17get our ethics. It was just like, okay,
1:16:19how's this going to go?
1:16:20>> I I'm going to give you guys numbers on
1:16:21this. So, we trained 90 support reps
1:16:25from scratch. Number one. Number two, we
1:16:28trained 300 additional phone reps from
1:16:32scratch.
1:16:33>> Number three, we got 40 in personal in
1:16:36like our 40 teammates that were not like
1:16:39dedicated, you know, they weren't doing
1:16:40something in the launch that were like
1:16:42we have we had HR people taking phone
1:16:45calls for you all who were like, "Oh, I
1:16:46want to I want to do the 800 and I had a
1:16:48payment issue that came up." That team
1:16:50is in our other building like they're
1:16:52they're working right now. Some of you
1:16:53guys are on the phone with them, right?
1:16:55Um, and we had to train all of them on
1:16:57like they're like they're they're
1:16:58processing payroll and we're like listen
1:17:00I trust you and I know that you'll be
1:17:01able to translate our brand better than
1:17:03any else. And so we we train them just
1:17:05to like be payment facilitators.
1:17:07>> Our executives we have executives on the
1:17:08phone.
1:17:08>> We have executives on the phone. Um, so,
1:17:11so if you add that up, 90 plus 300 and
1:17:14then transfer transfer training. And so
1:17:16we had over 400 440 whatever trainees
1:17:20that we had to do for this.
1:17:23>> The sales support playbook alone,
1:17:26>> yeah,
1:17:26>> was more detailed than most launch
1:17:30playbooks for the entire launches.
1:17:31>> I think the sales support playbook was
1:17:33probably somebody would sell that for
1:17:35like 20 grand,
1:17:36>> right? Just a sales just a support sales
1:17:38support playbook. um
1:17:39>> for our internal sales support.
1:17:40>> Yeah.
1:17:41>> Alex, what did you think? What was what
1:17:43was uh from the last launch to this
1:17:46launch, what was what was a different
1:17:47for you? What was an upgrade for you?
1:17:48What was a highlight for you?
1:17:52>> Um well, that everything worked.
1:17:55>> Yeah.
1:17:55>> You know, last time it was it was I mean
1:17:58>> obviously the last launch was great. Um,
1:18:01but we did have the link break and
1:18:02everyone was cool with, you know, no one
1:18:03no one was weird about it. But I was
1:18:04obviously super disappointed because 50%
1:18:06of the people who wanted to get on
1:18:08couldn't.
1:18:08>> I mean, imagine working for, you know,
1:18:10two years to do something and then
1:18:12having 50% fewer people. And of the 50%
1:18:14that got on, half them jumped on YouTube
1:18:17live luckily because, you know, Leila
1:18:18made a game time decision was like just
1:18:20get them on you like even though like
1:18:21because we had a whole Zoom set up and
1:18:23all the stuff and it and it broke. Um
1:18:25and so we lost half and then the other
1:18:27and half of the half got like a
1:18:28different experience that we were
1:18:29intended and so obviously it was fine
1:18:31and you know was it it was all good but
1:18:33you know we always see room for
1:18:34improvement. So the number one just the
1:18:35fact that everything worked.
1:18:37>> Yeah
1:18:37>> that was that was probably like from a
1:18:39highlight perspective um number one and
1:18:42then um
1:18:45it's weird to say but like I think the
1:18:46team is probably a highlight
1:18:48>> of course you know. Oh, it's so fun.
1:18:49>> Of course. Well, the the interesting
1:18:51part about the team that no one really
1:18:52understands
1:18:53>> is that
1:18:54>> we still operated the full business. And
1:18:58here's the crazy part. Not only did we
1:18:59operate the full business, last week,
1:19:01Alex still did a full consulting day to
1:19:05fill to to feed the the the AI.
1:19:08>> So, it's the last the last the last uh
1:19:1010 10 businesses I I fit the week
1:19:13weekend before so we could get them in
1:19:15uh to the AI for you guys. Our team was
1:19:17working all the way up until this past
1:19:19Wednesday, which is the day then they
1:19:21started training for this. Yeah.
1:19:22>> So, our team hasn't had a day off.
1:19:23They've been on. So, you know, we're
1:19:26gonna have a party. But
1:19:28>> yeah, Hermosa heat.
1:19:29>> But I mean, also just like I think the
1:19:30willingness of everyone, not one person
1:19:32complained.
1:19:34>> Not one person said, "I don't want to
1:19:35do." Like everyone was like, "I'm so
1:19:36excited to participate. I'm so excited
1:19:38to help." Like
1:19:39>> everybody was getting in here at 3:00 or
1:19:414 a.m. on their own valition, staying
1:19:43until 1:00 a.m. 2 a.m. on their own
1:19:45valition. like we didn't ask. It's just
1:19:48like everyone's like we want to make
1:19:49this happen together. And I think that's
1:19:51just really freaking cool.
1:19:52>> Yeah. Um as you think about kind of
1:19:55behind the scenes of what we already
1:19:57know that the world does not see.
1:19:59>> Um there are there are entrepreneurs out
1:20:02there doing launching different things
1:20:04which we want them to do. So we're so
1:20:05grateful that you're able to do it. Use
1:20:07the better money model to do it. what
1:20:08what would be what would be some a piece
1:20:11of advice or uh something that you would
1:20:13share with them on what they have not
1:20:16seen behind camera but what is behind
1:20:18the scenes that hey if I were you I
1:20:20would consider doing that
1:20:21>> for launching something
1:20:22>> yeah for launching something
1:20:24[sighs]
1:20:27>> I would say number one is you want to
1:20:28have a killer reason why
1:20:31um so I would say the more I the more
1:20:34you I don't want to say advanced the
1:20:35more seasoned I become as a marketer um
1:20:38the more I see the alpha in stories. So
1:20:41I'll explain this cuz try and have I and
1:20:43I've had this conversation. So um I told
1:20:46you guys I've been studying um like
1:20:48historic Deca billionaires and beyond
1:20:50like the wealthiest people in history to
1:20:51try to understand their decision-m
1:20:52frameworks and Rockefeller writes
1:20:55letters to his son and I imagine that
1:20:57those are pretty pure from their advice
1:20:58perspective because he just wants his
1:21:00son to you know be successful. And so in
1:21:02one of the letters he writes uh to his
1:21:04son, he explains how he became the
1:21:06largest uh oil refinery in Ohio. And so
1:21:11I think Cleveland is was his original
1:21:12his first city that he like kind of was
1:21:14in. And so he was the second biggest oil
1:21:17refinery there. And the number one guy
1:21:19was significantly bigger than him. And
1:21:21so he asked the the asked he he he tried
1:21:25he made an offer to buy the bigger guy
1:21:27out. And the bigger guy like laughed at
1:21:29him and like made fun of him and all
1:21:30this stuff. like if you learn more about
1:21:32Rockefeller like deeply don't like he's
1:21:36he doesn't mess with that. Anyways, so
1:21:39uh the guy kept saying more and more
1:21:41insane prices and finally uh they did a
1:21:44deal and so Rockefeller lended the
1:21:46financing, got the deal done and the guy
1:21:48afterwards was like you I totally
1:21:50screwed you. You overpaid for this thing
1:21:52like you're an idiot blah blah blah. And
1:21:54so what Rockefeller writes to his son is
1:21:56that he said he was only thinking about
1:21:58that deal. He said, "I was thinking
1:22:00about the next 22."
1:22:01>> And so in the next 60 days, what
1:22:03happened is that that one refinery when
1:22:06combined with his made him the biggest
1:22:09in Ohio. And so as a result, he then
1:22:12immediately rebranded uh General Oil or
1:22:15Standard O. No, I'm forgetting the name,
1:22:17but Standard Oil, I think, um as the
1:22:20number one in all of Ohio. And so with
1:22:23that branding, that story, he then was
1:22:26able to leverage that into closing 22
1:22:28more M&A deals in the next 60 days,
1:22:31which he got smoking deals on. And so I
1:22:34see that as the alpha or the premium
1:22:36that he paid for that company is what he
1:22:38paid to get the return on all the next
1:22:4022 deals that he did. And so some of the
1:22:42themes you probably saw some from some
1:22:43of the conversations we had today was
1:22:45how do we reframe this in a larger
1:22:47context?
1:22:48>> And so if I'm going to launch something
1:22:50like you got like I'll this is behind
1:22:52the scenes, right? So what's the larger
1:22:53context of the money models launch
1:22:56right? So we have multiple that are in
1:22:59my opinion additive. So number one is I
1:23:03want to get books in the hands of every
1:23:04entrepreneur in America. And the real
1:23:05reason for that is because books and and
1:23:08and training education is the thing
1:23:09that's changed my life. I'm I will I
1:23:11will go to the grave with that. And you
1:23:12know there was even an earlier I had an
1:23:14early person who was like man you need
1:23:15to hardcore like basically pretend that
1:23:19part of your life didn't exist right
1:23:20because that that space is so such a
1:23:23cesspool and it is and the main reason
1:23:24that it's a cesspool is because of
1:23:26promises that are gone undelivered not
1:23:28because education itself is inherently
1:23:30bad obviously and so I am a product of
1:23:33the alternative education uh system you
1:23:35know what I mean like I've bought every
1:23:36you know course book tutoring coaching
1:23:38everything under the sun because I just
1:23:40want to get an advantage I always want
1:23:41to learn and So meta concept number one
1:23:44was I want to get a book in the hands of
1:23:45every entrepreneur. Number one. Number
1:23:46two each book is it was intended to be a
1:23:50meta concept. And so I wrote all three
1:23:52books more or less at the same time but
1:23:54they were like it was like this this
1:23:55massive thing. And so when I realized I
1:23:57was like this is too like every I I gave
1:23:59it to like initial readers and they were
1:24:01like dude I it's too much man. And so
1:24:04that became I had to split it into three
1:24:06and it made offers, leads and money
1:24:08models. And so because I had all three
1:24:11books at the beginning, I was like,
1:24:12"Okay, what would be the most badass S
1:24:15tier thing of all time? It'd be like,
1:24:17wouldn't it be amazing if I could do a
1:24:21launch of each of the books
1:24:22demonstrating the concept of the book
1:24:24only?" And so offers, I hadn't talked
1:24:27about advertising yet. And so I didn't
1:24:29advertise it at all. I just posted it
1:24:31once and said, "I have this thing." And
1:24:32I think I had like 10,000 followers. It
1:24:33was like not a huge, you know,
1:24:34followership. But because of the quality
1:24:37of the product and because of the offer
1:24:38itself, which was it was 99 cents, I
1:24:41think uh when I when I premiered it, um
1:24:44and it came with a course that you
1:24:45didn't have to opt in for and it had all
1:24:47this stuff and it was really
1:24:48exceptional. Um it spread on word of
1:24:50mouth alone and it sells thousands of
1:24:52copies to this day because of word of
1:24:54mouth. Then the second book is like,
1:24:57okay, [clears throat] well now that you
1:24:58have an offer, then you advertise it. So
1:24:59then I got to use the second skill set
1:25:01and weave that on top, right? And it's
1:25:04like and then that that showed what
1:25:05combining those two things together
1:25:07crazy offer plus crazy advertising. But
1:25:10then money models is okay well how do
1:25:12you monetize? And so what I wanted to
1:25:14have happen what I thought was like the
1:25:16most elegant S tier thing ever would
1:25:18have been to launch $100 million money
1:25:21models to end the trilogy of the $und00
1:25:24million series with a $100 million
1:25:26launch. And so this took four years from
1:25:31beginning to end
1:25:32>> uh to do because I released offers in
1:25:35July of uh 20
1:25:38one and then I released leads in August
1:25:42of 23 and then I released money models
1:25:45in August of 25. So two years apart
1:25:47every time and so each one added the
1:25:50next layer and so that was the meta
1:25:51concept behind it. And obviously we you
1:25:54know you probably did the back of napkin
1:25:55math here. we surpassed 100 million for
1:25:57the launch. Um, and so that was the that
1:26:00was the meta concept uh for the launch
1:26:02itself. Third meta concept was how do I
1:26:07position this in a way that I can get
1:26:10buyin from business owners to foster and
1:26:13model reciprocity.
1:26:15And so by taking the action of donating
1:26:19books as the key CTA,
1:26:24what happens is I so like if you think
1:26:25about again the meta concept, I start
1:26:28the presentation by giving a huge amount
1:26:30of stuff away. The money models uh
1:26:32system, the course, the money models
1:26:34book itself, the audio, um the lost
1:26:36chapters and the 90 days of school,
1:26:39right? All free for anybody. Okay? Comes
1:26:42Tuesday. Relax. Comes on Tuesday as in
1:26:44tomorrow.
1:26:45um you'll get all that stuff and that's
1:26:46because we wanted to finish the launch
1:26:48and then you'll have it okay but if you
1:26:50think about modeling which is the
1:26:52primary way that you can influence and
1:26:53teach right um I modeled giving and then
1:26:58the CTA was hey I just did this cool
1:27:00thing in front of lots of people and if
1:27:02you like that thing then you will want
1:27:04to model that behavior which then means
1:27:06when I give you the opportunity to model
1:27:07that behavior via donating then you will
1:27:11learn the loop because my life has
1:27:13changed because I learned to give first.
1:27:15It was something I'm very fortunate that
1:27:17happened to me earlier on in my career
1:27:18and I always gave first and I've gotten
1:27:20I've for sure I've been taken advantage
1:27:22of. But I've had more opportunities that
1:27:24presented themselves because I gave
1:27:25first. And so with that then you've
1:27:29probably already seen it already a lot
1:27:30of these um uh posts already of like hey
1:27:34I want to give away 200 books. I want to
1:27:36give away 200 books. And the thing is is
1:27:37that now thousands of entrepreneurs are
1:27:39going to give first to their audience
1:27:41and then see how much comes from that.
1:27:44And so like I don't think I can change
1:27:46the world. I'm going to try really hard
1:27:48to change my world. And if we can have
1:27:51that tiny dent of shifting how
1:27:54reciprocity and how advertising occurs,
1:27:56which is people actually giving more
1:27:57upfront, everyone wins. The marketplace
1:28:00wins, customers win, and business owners
1:28:02win. It's a virtuous cycle. Everyone
1:28:04assumes it's a zero- sum game, and it's
1:28:05not. that's additive. The whole pie gets
1:28:07bigger. And so, um, by by framing it in
1:28:11that way, um, it allowed people to
1:28:14identify and take the first action that
1:28:15they just saw modeled in front of them.
1:28:17And so, that was the third metaccept of
1:28:20it. And the fourth, I know like this was
1:28:23took years to to plan. So, you're like,
1:28:24man, there's a lot. It took two years,
1:28:26man. It took two years of my life. Um,
1:28:28was I do genuinely believe like I'm an
1:28:31entrepreneur at heart. I believe in
1:28:32capitalism. I think there's flaws with
1:28:34capitalism, but I think that we don't
1:28:35have a better system up to date. Um, and
1:28:38so the fact that all of the non-fiction
1:28:40book sales winners, all of the records
1:28:43were owned by politicians who who I
1:28:46don't want to say never had businesses,
1:28:47but like the reason that they sold their
1:28:49books was because of the state sponsored
1:28:51media that and and I say state sponsored
1:28:53lightly. I mean it was taxpayer dollars
1:28:55and whatever, you know, that funded it.
1:28:56I was like, well, that's that's messed
1:28:58up, you know? I mean, like we I was
1:29:00like, one of us should have that. And so
1:29:03that was that was the the catalyst
1:29:05behind trying to also break the record.
1:29:07Um and so yeah, and then obviously it's
1:29:10like okay well then how do I take care
1:29:11of all the people who who who follow and
1:29:13consume my stuff as well because I have
1:29:14to serve multiple audiences. I have
1:29:15people want to start a business and
1:29:17obviously I have I mean you heard a
1:29:18bunch of phone calls today like I have
1:29:19tons of you know legit business owners
1:29:21who follow our stuff and so yeah thanks
1:29:25and so uh that's why we we uh you know
1:29:28we became coowners of school right and
1:29:30so that was again almost it was 18
1:29:32months ago whatever that was um again in
1:29:35preparation for this like when when Sam
1:29:37and I did that deal um which we started
1:29:40talking about at no before we started
1:29:43talking about it 6 months before my
1:29:46leads launched to give you an idea of
1:29:47how long this time horizon's been. We
1:29:49talked about this launch and the
1:29:52stipulations that I had then like that's
1:29:53that's what it was. I was like how can
1:29:55we get school to be as close to free as
1:29:56possible.
1:29:57>> Um and so that's when we came out with
1:29:59the hobby plan uh uh which is $9. And
1:30:02just so you guys know anybody who signs
1:30:03up for that um there's a link you'll get
1:30:06tomorrow. Uh it's
1:30:09I'll tell you what it is momentarily. Uh
1:30:12but when you get that that that rate is
1:30:14lifetime. All right. So um that's a
1:30:16lifetime low rate of N bucks. So kind of
1:30:19cool
1:30:20>> after your 90 days free.
1:30:21>> What what uh to bring us home, what is
1:30:23your piece of advice for someone who is
1:30:25thinking about doing small medium launch
1:30:28or thinking about launching something uh
1:30:30doing something in their business.
1:30:31They've only seen what they've seen on
1:30:32the front end from the back end. What
1:30:35what piece of advice do you have?
1:30:39You know, I see a lot of comments that
1:30:40were kind of coming in as we were
1:30:41talking about it, which are like, are
1:30:44they holding back? They're not telling
1:30:45us the whole story, like all this stuff.
1:30:47And so, I think just like for anybody
1:30:48watching, like the one thing that I
1:30:50learned is that when I was unsuccessful,
1:30:52I always thought that there was like a
1:30:54silver bullet that these really
1:30:55successful people weren't telling me
1:30:57something and that they were all BSing
1:30:58and lying and there was something more
1:31:00to it. And then I became successful. And
1:31:04then I realized that no, I just had a
1:31:07broken view of the world and
1:31:08perspective. And that the reality of it
1:31:11is that it's just so much work. It's so
1:31:14much more work than anybody can
1:31:16anticipate. And because of that, people
1:31:17don't believe that it's that you
1:31:19actually do it. And they don't believe
1:31:20that you can actually. And it seems so
1:31:22far away when you're first starting that
1:31:23I get it. Like you don't believe that
1:31:24that's possible. But like when we sit
1:31:26here and we tell you guys what's going
1:31:28on, like that's because this is actually
1:31:30what's [ __ ] going on. Like we're not
1:31:32holding anything back. And I actually I
1:31:34take offense of that cuz my number one
1:31:35value is honesty. Um but like if you
1:31:39don't believe that that's the case, then
1:31:41that's the problem, not what we're
1:31:42saying. Like you have to understand that
1:31:45it is just a lot of work. And you know,
1:31:48it takes trade-offs, which is like if
1:31:50you want to do a really really great
1:31:51launch, it's like anything in life. if
1:31:54you want to go and say I'm going to have
1:31:55a kid or I'm going to go and move across
1:31:58the country and buy a house or like it
1:32:00takes a lot of energy and it takes
1:32:01energy from other things. And so if you
1:32:04want to do that, I think you need to
1:32:06look at your life and say, "What am I
1:32:08willing to put to the side? What am I
1:32:09willing to sacrifice for this time?"
1:32:11Because whether you make the choice or
1:32:12not, you're going to sacrifice it. It's
1:32:14just a matter of if you choose what you
1:32:15sacrifice or not. And so I think that
1:32:18that's honestly what I would say.
1:32:20>> Yeah. Um, I will say something that Alex
1:32:22Leel won't and I'll speak for the entire
1:32:24team when I tell you this. The the
1:32:27easiest way to win more in whatever
1:32:30you're working on is to up the bar of
1:32:33whatever you think is reasonable. That's
1:32:35it. Cuz the reason why we are probably
1:32:38in hour, I don't know, 30 of a live
1:32:42stream here where it is what the
1:32:46reasonable bar is. He's going to do it
1:32:48for two hours, maybe three, not three
1:32:51full days of this. And the main reason
1:32:54is the the bar of unreasonleness has
1:32:57been achieved, right? The comments
1:32:59around are they going to continue going.
1:33:01This the all about being unreasonable.
1:33:03And the reason is if you are
1:33:04unreasonable, then you will want to do
1:33:06things that no one else would do. And I
1:33:09will tell you this is a super big uh
1:33:12kudos to our team because the team
1:33:14believes in the ethos of just being
1:33:17unreasonable. It's everything can be
1:33:20done and it's it's amazing to have a a
1:33:23players and a partners and and and an a
1:33:25team overall. But when Leila tells you
1:33:27that we are sharing everything, there is
1:33:29nothing to hold back. The the bar for
1:33:32how unreasonable this is is so high. And
1:33:35outside of just the book, outside of the
1:33:37effort, what I wanted you to see was all
1:33:39the effort that Alex put in first, the
1:33:41team put in second and the entire
1:33:44delivery of all of it third because it's
1:33:46extremely unreasonable. And so the more
1:33:49we can all normalize what is
1:33:50unreasonable, the better this this will
1:33:52be and the easier this will get for you.
1:33:54So if there's any gift that this this
1:33:58entire experience on this side of the
1:33:59camera has given you, my hope for you
1:34:01would be to change to normalize what is
1:34:04unreasonable in your life because when
1:34:06you when that shift changes, everything
1:34:08will change for you.
1:34:10>> Yeah.
1:34:10>> I'm going to I'm I just saw somebody Sam
1:34:12Serio. He said, "Uh, yes, but how do
1:34:15what exactly? Like what exactly should I
1:34:17do right now? Put in more work than
1:34:19needed." Dude, part of the work is
1:34:21figuring it out.
1:34:24Like that's that's the work, man. Like
1:34:26if I said, "Hey, I want to start this
1:34:27launch. Just tell me exactly what to
1:34:29do." Like the world's not going to give
1:34:30you that. Now, I do my absolute best of
1:34:32like, "Hey, the these specific problems.
1:34:33Your show rates are low. Your close
1:34:35rates are low. You know, people aren't
1:34:36buying fast enough. You need more leads.
1:34:38Your your ads aren't converting." Like
1:34:39all these things, right? Like there's
1:34:41specific solutions for that. But if you
1:34:43want to like if you want to do something
1:34:45big, the whole nature of doing something
1:34:46that's historic that no one's ever done
1:34:48before is that no one's ever done it
1:34:49before. And the alpha is in figuring it
1:34:51out. is your ability to say, "Okay,
1:34:52well, of the things I already know about
1:34:54the world, what are those things
1:34:55generalized to understanding how to make
1:34:57a guess about how this is going to work?
1:35:00>> We don't know." Like I like like so like
1:35:04no one has had like I don't know anyone
1:35:06who's done a donate books offer.
1:35:09>> I don't know anyone who's done that.
1:35:11Also, it was it was a it was a 50, you
1:35:13know, a $6,000 price point. I don't know
1:35:15anyone who's done that from a from a
1:35:17large presentation. I don't know. Um,
1:35:19and but like the the pervas the the
1:35:21pervasive uh you know lore is like never
1:35:25above three. It's always like that's
1:35:27like almost like a law. It's an
1:35:28unwritten law. And I was like, but I
1:35:29don't know. I think that if we you know,
1:35:32like it felt unfair considering people
1:35:33pay $35,000 for one of them to to charge
1:35:35to charge three. Um so I was like, no, I
1:35:39think this is the the right thing. Um we
1:35:41were able to even get, you know, even
1:35:42the fact we're even able to get a firm
1:35:45um to do this was because we had
1:35:46physical products. So like we fronted
1:35:48all the capital for all this stuff. You
1:35:50know
1:35:51>> what?
1:35:52>> I don't know. I see people coming.
1:35:54>> Yeah, people coming.
1:35:56>> Many millions of dollars to it.
1:35:58>> Um while our team's getting ready to
1:36:00come, I will I'll say this. I've known
1:36:01Alex and Ila many years. And for those
1:36:04of you who think that, oh, someone else
1:36:07ghost wrote what Alex wrote, you're
1:36:09crazy, right? Uh oh, come on. And no,
1:36:11no, like someone else wrote the emails,
1:36:14someone else wrote the webinar. And the
1:36:16crazy part is you actually know that
1:36:17Alex made the slides because
1:36:19>> you know that Alex made the slides,
1:36:21right? Because we could have ugly
1:36:24>> because [laughter] they're No, but but
1:36:25the interesting part is Alex made the
1:36:26slides to show you that Alex made the
1:36:28slides. And I think that is super
1:36:29important because um Alex's ability to
1:36:33take a phone call and give you advice is
1:36:35because he has all the reps doing this.
1:36:38So you have to understand that this is
1:36:39not that the reason why you saw 30 hours
1:36:42of this is to prove that this is not
1:36:45ghost written. This is not staged. This
1:36:47is not something random. This is not a
1:36:49framework that is stolen. Like this is
1:36:50not somebody else that taught some
1:36:52random webinar framework. Like this is
1:36:55not it, right? And it's important for
1:36:57you to see that. It's also important for
1:36:58you to see the entire team rally behind
1:37:00what exactly what Lelo was telling you
1:37:02about because we have an entire team
1:37:04waiting to celebrate right now after 3
1:37:06days and 30 hours of being live. And I
1:37:09wanted you to see how we normalize being
1:37:11unreasonable because what you see is
1:37:12what you get. And you're going to see a
1:37:14lot of hey, let me uh let me funnel hack
1:37:17the hormosy, you know, 3 days.
1:37:20>> There is no magic behind this. And we
1:37:22wanted to show you that it was 3 days of
1:37:24unreasonable effort to show you how much
1:37:26we care about you, how much we love you,
1:37:27and how much we want to get this in your
1:37:28hands.
1:37:28>> And anybody who claims that they are the
1:37:31reason that this launch happened or that
1:37:32they sold a methodology is selling you a
1:37:35pile of [ __ ] [snorts] So you heard it
1:37:37first from me because Chiron and Al Alex
1:37:39will never say it and Shiron's too nice.
1:37:41So I don't give a [ __ ] Okay? We did
1:37:44this all on our own. Our team is a bunch
1:37:45of [ __ ] ballers. If you like this
1:37:47video and you're a business owner who
1:37:48wants to break through your current
1:37:49revenue ceiling, I distilled every
1:37:50lesson from scaling 10 businesses past
1:37:5210 million and three businesses past 100
1:37:54million into a completely free scaling
1:37:56road map that I've used to go from 0 to
1:37:581, 0 to 10, and 0 to 100 plus. And so
1:38:01you can click here and you can check it
1:38:02out. Again, absolutely free. And since
1:38:04you're a business owner, appreciate you.
1:38:05And uh enjoy.

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