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why you never should listen to your parents at NEH.

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Welcome to the game where we talk about how to get more customers,

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how to make more per customer, and how to keep them longer,

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and the many failures and lessons we have learned along the way.

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I hope you enjoy and subscribe.

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In this video, I want to talk to you about why you never should listen to your parents at NEH.

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Hi, my name is Alex Ramozi.

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I own a portfolio of companies that is $85 million a year in revenue.

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I make this channel because a lot of people are broken.

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I don't want you to be one of them.

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And so one of the things that happens, and this is at NEH,

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like I know guys who are making millions of millions of dollars a year,

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and still are insecure about what their parents tell them about X, Y, and Z.

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And so the reason I think this is interesting is that most people,

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unless your parents are exorbitantly wealthy and have achieved everything that you wish to achieve,

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I don't think you should listen to your parents.

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And so one of my first rules of life is never to listen to someone who's poorer than you,

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or poorer than you want to be.

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All right, so that's two different caveats there,

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because you might be younger and it's like, okay, well, yeah, my parents have more money than me,

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but are they poorer than you want to be?

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If so, then only listen to people who are wealthier than you want to be, right?

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And the thing is, is that they always will, and other people too, right?

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We'll always side on the side of being less risky, right?

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And here's why, because when you naysay, right?

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It's kind of like when you're, if someone's like, oh, I don't like your girlfriend,

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and the thing is, is that if you date in general, right?

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And dating can apply, like the concept of dating and apply to business concepts,

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that doesn't really matter.

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But if you date, then fundamentally, every single person that you date,

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except for the one that you marry, is going to be someone who you're not going to be with.

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And if someone says, I don't think this person's good, I don't think this person's good,

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then they will be right, literally 99% of the time,

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except for the one time that matters, right?

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Kind of interesting.

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And so, the thing is, is most businesses fail.

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95% of businesses fail within five years, right?

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And so, most times, they are correct.

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And so, it's very easy for them to self-reinforce that they are so smart,

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right, and they're always right, and they can tell you I told you so,

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right?

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But the reality is, that they are wrong in the 1% of times that it matters, right, in your life.

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And so, when I think about this, what's interesting is that, like,

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the only way that is guaranteed to knock you to success is to never take the risk to begin with,

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right?

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That's the guaranteed way of not achieving it.

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And I remember when I was quitting my job,

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that was the biggest conclusion that I came to,

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was that I was not happy at my current earning level,

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and that the only job, because there was one position, one job that made enough money that I wanted,

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which was being an investment banker.

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So, the best investment bankers can make $10, $20 million a year.

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But I knew what it was required to get there in the amount of effort, time, and sacrifice.

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And I was like, the only people who will pay me that amount of money,

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will be making so much more money off of me, and literally draining my life, that I don't think it's,

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because usually if you become an investment banker, successful, you pretty much donate 20 years of your life

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in order to do that.

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And you're really never going to see your family and all that kind of stuff.

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And for me, that was not a trade-off I wanted to make.

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And so, I figured there was no job that was going to pay me what I wanted to make,

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and afford me the lifestyle that I wanted.

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And so, the path that I was on was guaranteed to not give me to where I wanted to go.

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And so, even though it was micro-risky, it was macro the only way I could do it.

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Right? And so, that's one of those things actually from Gary V.

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He says, micro-speed, macro-patients, right?

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Money loves speed, wealthless time.

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And so, if we're trying to build a wealth, we're trying to build an asset,

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then we need to have time.

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One of my other favorite things that I'll share with you is,

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you get paid for what you do, you get returns, what you own, right?

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And so, anyways, back to the reason why you shouldn't listen to other people is that

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they don't have an accurate understanding of risk, right?

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And the biggest risk is not doing anything at all.

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The biggest risk is never dating, not that you're with this person, right?

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And so, Warren Buffett said, and I like this, he said,

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most people only need to make four or five really good decisions in their life.

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So, think about that for a second, because I think about, like, that one really shook me,

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because I think about all the decisions that I make every single day, right?

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And all the decisions that I've made in my life.

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And there's really not that many of them that have been the biggest levers,

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but the few that have been have been massive and enormous levers in my life.

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And most people don't take enough time to think about those decisions that are the massive

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force in the road.

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Am I going to keep going in this position?

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Do I want to live in this city?

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Am I going to marry this girl?

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Who am I going to go to, who am I going to get into business with?

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What are we going to do, right?

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What are we actually going to do in this business, right?

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And so people don't get put enough thought into that stuff,

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and spend all their time thinking about what next show they're going to watch on Netflix,

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right?

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Rather than thinking, like, I'm going to take some time with this decision,

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because one of my other things is mistakes love a rushed decision, right?

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So, micro-speed, macro-patients.

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If you're looking at long playing long, then you have to understand,

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or at least this is my, you know, my two cents on it,

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is that most people will oppose you at all times.

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And that is because it is safer for them to do so,

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because they will be right most of the times.

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But on the 1% of times that they are wrong,

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it's that 1% decision saying that you're going to buy C's candies for $25 million

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and ends up generating $1 billion, right?

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And revenue, it's that one decision that they're going to miss out on.

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And that's the one decision that matters.

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Most of the nation real quick, if you are a business owner that has a big,

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old business and wants to get to a much bigger business,

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going to $50 million plus, we would love to talk to you.

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And if you like that, we would like to hear more about it.

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Go to acquisition.com and you can plan anywhere on the page.

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And talk to one of our team and see if we can help you get there.

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And so they are 99% of the time, right?

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But they're 100% wrong, right?

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And so that's the only message that I wanted to really drive home

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is that if you have parents who make less money,

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then you want to make.

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If you have friends who make less money, then you want to make.

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I had so many people who told me that everything I was doing was stupid.

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I was giving up a really good consulting job to open a gym, right?

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I took all my savings and sunk it into a business.

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And you know what, that business wasn't the one that set me free.

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It was four or five businesses from there.

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But I learned the skills that one by one,

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I was able to assemble and assemble on a belief standpoint of the world

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with the character traits to reinforce them

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to eventually yield the success that some people think is cool.

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So anyways, I made this video because I've had a lot of younger people

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who reached out to me recently about this particular issue.

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And it's just understanding macro risk versus micro risk.

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Micro risk, yes, you will fail,

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but failure is part of the game, right?

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But the macro risk is that you'll never actually succeed.

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And that's the real game, right?

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And so you have to understand that you have to date

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in order to find the degree you're going to marry.

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You have to go on a lot of bad dates.

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You have to have a lot of small businesses that don't work, right?

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You don't have to.

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But it's common.

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And I don't know any entrepreneur who hasn't had a lot of businesses

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who eventually yielded success, right?

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Or even a lot of businesses within their main business.

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They pivoted a lot of times until they figured out

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what they were good at and what the market needed.

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And so anyways, hope that makes sense to you.

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Hope you found value of this.

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I'm rooting for you.

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I'm your biggest fan.

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Keeping awesome, keep taking risks.

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Micro speed, macro patience.

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And you get paid for what you do.

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You get returns on what you own.

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And what we're trying to build here is an asset

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that can pass over time.

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Because if we cannot learn how to build that asset,

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we will work until the day we die.

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So keeping awesome, lots of love.

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And I'll catch you guys in the next video.

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Hit some side if you like it.

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And if you don't, don't subscribe.

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I'll get you to do it.

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All right, bye.