WEBVTT 1 00:00:00.000 --> 00:00:04.080 The reason I'm specifically saying this to this audience is that y'all get fooled all the 2 00:00:04.080 --> 00:00:10.560 fucking time by passive income. It's not passive. It's less active, but it is not binary. 3 00:00:10.560 --> 00:00:13.440 It is not active or passive. It's how active is it? 4 00:00:14.800 --> 00:00:18.320 Welcome to the game where we talk about how to sell more stuff to more people in more ways and 5 00:00:18.320 --> 00:00:22.480 build businesses worth owning. I'm trying to build a billion dollar thing with acquisition.com. 6 00:00:22.480 --> 00:00:26.720 I always wish pesos, musk and buffet had documented their journey, so I'm doing it for the rest of us. 7 00:00:26.720 --> 00:00:35.760 Please share and enjoy. What's up? Thank you guys. I am very honored and stoked to be here. 8 00:00:35.760 --> 00:00:41.520 Maximum level stoke out of from a skill one to stoke. I'm stoked. I'm really excited. 9 00:00:42.480 --> 00:00:46.560 I think it was last night. Who here saw me at Yogurtland last night? Can I get some hands? 10 00:00:47.120 --> 00:00:50.160 All right, a couple of you guys. Yeah, I think it was like 10 or 11 of you. So I was at 11 00:00:50.160 --> 00:00:54.880 Yogurtland and I had the last two days before this kind of prepared a presentation for today. 12 00:00:54.880 --> 00:00:59.840 And after talking to just the few people that I did for about 60 minutes, I woke up this morning 13 00:01:00.640 --> 00:01:06.880 and rewrote the entire presentation. So this is brand new. It's just for you guys. And so it's 14 00:01:06.880 --> 00:01:14.720 going to be fun money time with Alex. Does that work? That cool? All right. So our mission, 15 00:01:14.720 --> 00:01:18.800 layliniteacquisition.com is to make real business education available to everyone. That's our goal. 16 00:01:18.800 --> 00:01:21.680 That's why we're trying to do. That's why we do the speaking stuff. That's why we started recording 17 00:01:21.680 --> 00:01:25.120 the videos, the podcast and all that stuff is because there are too many problems in the world 18 00:01:25.760 --> 00:01:30.480 for one person to solve them. And so rather than forward the stuff that has been relatively 19 00:01:30.480 --> 00:01:34.720 painful for us to learn, I would like to distribute it to you guys. It's very meaningful for me 20 00:01:34.720 --> 00:01:39.520 to do this. And so I will be as lighthearted as I can to this, but it's from the heart. I just want 21 00:01:39.520 --> 00:01:46.640 everyone to hear just make epic shit and help lots of people doing it. And I think we're the only 22 00:01:46.640 --> 00:01:50.080 thing that's going to like help. The government is not going to save us. Other people are going to 23 00:01:50.080 --> 00:01:54.160 save you. Handouts are going to save you. Like entrepreneurs are the only things that solve problems. 24 00:01:55.040 --> 00:01:59.520 And so anyways, big big fan of capitalism. And so let's rock and roll. 25 00:01:59.520 --> 00:02:06.080 Those are nation. Anybody here? Awesome. All right. So you guys might hear something completely 26 00:02:06.080 --> 00:02:11.520 insane. Yes. Okay. You're going to have to hear it anyways. So I was able to take home more 27 00:02:11.520 --> 00:02:19.440 in a year than the CEOs of McDonald's, IKEA, Ford, Motorola, and Yahoo combined as a 28 00:02:19.440 --> 00:02:31.040 Kiddness 20s for over half a decade. There you go. Which resulted in $200 million in portfolio 29 00:02:31.040 --> 00:02:37.200 revenue as of today. We crossed $100 million. I H 33. And to be honest, no one's more surprised 30 00:02:37.200 --> 00:02:44.560 than I am about this outcome. And so me expressing this will create envy in some people. 31 00:02:44.560 --> 00:02:49.600 It will create anger in others. Skepticism in most. Confusion in old people. 32 00:02:51.680 --> 00:02:58.480 And inspire select few. And so the select few, you are who I'm making this for. Everyone else you 33 00:02:58.480 --> 00:03:02.960 can chill. But you are the people that I'm making this for. So who wants to hear about some stuff 34 00:03:02.960 --> 00:03:06.080 they can chalk out their path to material success so they can ponder the purpose of achieving it to 35 00:03:06.080 --> 00:03:13.760 begin with. Alright. So we're going to cover three things today. This is fresh from this morning 36 00:03:13.760 --> 00:03:19.280 right off the press. Number one, how making money really works. Number two, why new stuff is 37 00:03:19.280 --> 00:03:26.320 making you poor. Number three, why better is the way? You're like, that doesn't make sense yet. 38 00:03:26.320 --> 00:03:33.680 They will. Said simply, who wants to make lots of money? Who believes that you have to work hard 39 00:03:33.680 --> 00:03:38.880 to make money? Who believes that no one can outwork them? You're going to see where I'm going to go with 40 00:03:38.880 --> 00:03:45.520 this. Well, I'm going to attempt to prove you wrong. The reason this is so important is that all 41 00:03:45.520 --> 00:03:50.560 of us claim or I have heard who here has seen a guru on the internet say no one can outwork me. 42 00:03:50.560 --> 00:03:55.760 Who has heard people say that on podcasts, make Instagram posts about it, whatever. It actually 43 00:03:55.760 --> 00:04:03.440 drives me fucking bananas. It drives me bananas because it teaches the wrong lesson. So how can we 44 00:04:03.520 --> 00:04:09.120 claim that we work every day and yet we can't even define the word? So how do you define work? 45 00:04:10.320 --> 00:04:14.560 The science definition is work equals four times distance. Problem with that is it's not very 46 00:04:14.560 --> 00:04:18.480 useful for knowledge workers. Most of us are not actually doing manual labor, not useful. 47 00:04:19.520 --> 00:04:24.960 The second way is that you can think about it in terms of inputs of time, right? Like, is that 48 00:04:24.960 --> 00:04:30.720 how hard you work? No one can outwork me. I work longer hours. Do you think you're the only 49 00:04:30.720 --> 00:04:39.200 person who works 16, 18 hours every day? Like, go to China. I'm like, I don't even know if anyone 50 00:04:39.200 --> 00:04:44.560 in America can say it. I'm being dead, like, dead serious. So that's why when I see these things 51 00:04:44.560 --> 00:04:51.760 just drive me fucking nuts. So the problem with that is that many people work all the hours 52 00:04:51.760 --> 00:04:55.200 their way. And if you suggest working more hours than you're sleeping less than I don't think 53 00:04:55.200 --> 00:05:01.040 that's a good idea for knowledge workers. So why can no one outwork you again? Right, so 54 00:05:01.040 --> 00:05:08.000 everyone's working those hours. So then the next one is like effort. That's how no one can outwork 55 00:05:08.000 --> 00:05:12.640 me. No one's going to try harder than me. So you want participation trophies. 56 00:05:14.160 --> 00:05:19.680 Is this how you want your employees to think that they're working hard? I mean, not me. I wouldn't 57 00:05:19.680 --> 00:05:25.120 want that. So if it's not forced time's distance to define what work is, and if it's not the 58 00:05:25.120 --> 00:05:29.520 amount of time we're putting into the work that we do, and it's not the effort that we are 59 00:05:29.520 --> 00:05:37.280 expending or how hard we try, then what's work? We have to get clear on it because if that's what 60 00:05:37.280 --> 00:05:41.520 we have to do to make money, then we got to know what we're actually trying to fucking do. 61 00:05:42.240 --> 00:05:50.880 So here's Alex's definition. Work equals outputs. Fancy image. Outputs equal volume times leverage 62 00:05:51.760 --> 00:05:57.280 in plain speak. Number of times you do something times how much you get out of each time you do it. 63 00:05:59.120 --> 00:06:07.360 How do we work faster? Workrate equals that same thing divided by time. Plain speak. Output per minute 64 00:06:07.360 --> 00:06:13.680 of time. That is how you work faster, which means that the hardest working man in the world 65 00:06:13.680 --> 00:06:19.520 can be objectively measured. That guy is the hardest guy working in the world. In 2022, 66 00:06:19.520 --> 00:06:26.080 he had a $140 billion net worth for context that's more than Bill Gates did his entire career in one 67 00:06:26.080 --> 00:06:32.800 year. Think about that for a second. And then next year he did the exact same amount again. 68 00:06:33.760 --> 00:06:42.000 FYI, that's $2 billion a week. So output divided by time. There's the time one year. There's the 69 00:06:42.000 --> 00:06:49.280 output. He's the hardest working guy. So who's going to be the 2027 champ? Point of me doing this 70 00:06:49.280 --> 00:06:55.040 is that I hope it's somebody here. Who would like to be the 2027 champ? All right, let's rock. 71 00:06:55.760 --> 00:07:00.480 So if you want to be it, then please play attention. This will help you. So how can we get more 72 00:07:00.480 --> 00:07:04.640 output? Which in the game of business is enterprise value. It's how much shit is worth. 73 00:07:05.760 --> 00:07:10.320 Outputs, right? We have this one and now I've got a nice flex yarn. Volume is the number of times 74 00:07:10.320 --> 00:07:13.680 we move the lever. I literally made all these images this morning. All right, I'm very, very proud of 75 00:07:13.680 --> 00:07:18.720 them. All right. Volume is the number of times you move the lever. The lever is the length of the 76 00:07:18.720 --> 00:07:22.640 lever itself that you're using. The outputs is how much you can lift on the other side. 77 00:07:23.680 --> 00:07:27.440 So let's look at a couple examples. You guys can just shout it when I say just say higher low. 78 00:07:28.160 --> 00:07:42.160 So high or low? Low? High or low? High? High or low? Very high. The reason I put this one in here 79 00:07:42.160 --> 00:07:47.200 is that at a certain point, it's not about how strong the person is. It all depends on how much 80 00:07:47.200 --> 00:07:54.160 leverage you have. That's the point of the slide. Now, higher low. Volume times a thousand, 81 00:07:54.160 --> 00:08:00.560 the things just as long as the other one. Highest, yes. So now that we understand what work is, 82 00:08:00.560 --> 00:08:04.240 you can either do more activity or you can do it with more leverage to get more output. 83 00:08:06.560 --> 00:08:13.120 Doing more is capped by time and physical ability. How much you get a.k.a leverage is uncapped. 84 00:08:14.560 --> 00:08:22.320 No cap. I learned that. Gen Z, there we go. Now, fun fact, Warren Buffett took home 500 million 85 00:08:22.320 --> 00:08:28.320 dividends last year from Coca-Cola as an owner. The CEO took home 50. He spent less time working on 86 00:08:28.320 --> 00:08:37.040 Coca-Cola than the CEO did. So is he working harder? By the definition that we did? Yes. More output. 87 00:08:38.640 --> 00:08:43.360 We've been playing the game wrong. If you want to outwork your competition, what you really should be 88 00:08:43.360 --> 00:08:49.840 doing is outleveraging them. So who gets more done? We got one person who does 100 calls a day, 89 00:08:49.840 --> 00:08:55.280 another person who does 100 calls a day. The guy who has more skill. One guy makes 100 calls, 90 00:08:55.280 --> 00:08:59.920 another guy makes 100 calls. The guy who's better on the phone gets more output. Okay, let's say 91 00:08:59.920 --> 00:09:05.120 they're equal skill. We're working eight hours a day, making calls. Oh, I forgot the ask question. 92 00:09:05.120 --> 00:09:08.480 Who gets more work done? There's the answer. The guy that has the automated dialer that 93 00:09:08.480 --> 00:09:15.600 keeps his talk time the highest. Okay. Same skill, same number of hours and same automated dialer 94 00:09:15.600 --> 00:09:22.160 to maximize talk time. Now who gets more work done? The guy who is the best list? Okay, they've 95 00:09:22.160 --> 00:09:30.000 got the same list. The same skill, same dialer, eight hours a day. The guy who's calling to the right 96 00:09:30.000 --> 00:09:34.240 season the right time of day. Who wants to be calling selling shit during December if you're selling 97 00:09:34.240 --> 00:09:41.120 physical products? Who wants to sell on Brock Friday? Of course. More leverage, same work, more output. 98 00:09:41.520 --> 00:09:47.920 Okay, let's say all this stuff is equal. What else do we have? Nice. You actually called it. 99 00:09:47.920 --> 00:09:53.760 The guy calling with a better offer. Now we've got the same time, same time of year, same list, 100 00:09:53.760 --> 00:09:58.160 same offer, same dialer, equal skill, eight hours a day. Now who's going to do it? It's got to be 101 00:09:58.160 --> 00:10:06.640 equal now, right? The guy who recorded his pitch and said it to 10 million people. Now to push 102 00:10:06.640 --> 00:10:13.200 this even further. What if the guy made zero calls and didn't do anything? Who makes more 103 00:10:13.200 --> 00:10:18.560 against the best call on earth? The guy who's got a team. He's got 15 dudes on the phone. Okay, 104 00:10:18.560 --> 00:10:24.080 how good you are. And if you're like, well, I think I could be 15. You can't be 1500. Okay, 105 00:10:24.080 --> 00:10:28.960 here you are. Leverage. And that guy made zero calls. I have more people calling for me today while 106 00:10:28.960 --> 00:10:36.080 I'm on stage. Leverage. The game is rigged and you've been playing by rules that do not exist. 107 00:10:37.440 --> 00:10:43.120 If you want to make more money, you need to get more for your time. You need more leverage. 108 00:10:45.120 --> 00:10:49.600 And this should make sense because we all trade time for money. And I can prove this to you. 109 00:10:50.800 --> 00:10:56.960 You spend time every second of your life. You receive money over the time that you are alive. 110 00:10:57.920 --> 00:11:04.080 So money divided by time equals rate of output. We are all paid dollars per hour. 111 00:11:04.640 --> 00:11:08.800 The reason I'm specifically saying this to this audience is that y'all get fooled all the 112 00:11:08.800 --> 00:11:16.960 fucking time by passive income. It's not passive. It's less active. But it is not binary. It 113 00:11:16.960 --> 00:11:22.080 is not active or passive. It's how active is it? So if you make one trade in the stock market, 114 00:11:22.640 --> 00:11:27.680 all the time took you to analyze the deal and every other deal you decided not to do and then 115 00:11:27.680 --> 00:11:31.440 execute the trade and then raise the money and do all the other stuff, that is all the time that 116 00:11:31.440 --> 00:11:36.960 it took you to do that. Now after that point, you have increasing returns period of time. 117 00:11:37.520 --> 00:11:44.480 The point I'm making here is that time is the thing. We all have the same $24 in our wallet. 118 00:11:44.480 --> 00:11:48.560 It's about how we allocate them and what we get back for them, how well we trade. 119 00:11:49.360 --> 00:11:52.160 Just said that. There you go. Degrees. All that. 120 00:11:54.960 --> 00:11:59.760 Hey guys, love that you're listening to the podcast. If you ever want to have the video version 121 00:11:59.760 --> 00:12:04.160 of this, which usually has more facts, more visuals, more graphs, you know, drawn out stuff, 122 00:12:04.160 --> 00:12:08.080 sometimes it can help hit the brain centers in different ways. You can check out my YouTube 123 00:12:08.080 --> 00:12:12.000 channel. It's absolutely free. You can check that out if that's what you are into. And if not, 124 00:12:12.000 --> 00:12:19.520 keep enjoying the show. So leverage is the difference between what you put in and what you get out. 125 00:12:19.520 --> 00:12:22.320 There are fancy definitions for it. This is the best one that I have. 126 00:12:23.120 --> 00:12:26.960 And so I said I would cover three things. The first one is how making money really works. 127 00:12:26.960 --> 00:12:32.000 The answer to that question is leverage. You make more money by trading your time for more 128 00:12:32.000 --> 00:12:39.680 shit, more output. The second is why new stuff is making you poor. And this is especially relevant 129 00:12:39.680 --> 00:12:43.760 for everyone here. Part of this, again, was inspired by the conversations I was having last night at 130 00:12:43.760 --> 00:12:48.960 yoga land. So thank you for everybody who showed up for that. This is also how not to get leverage. 131 00:12:48.960 --> 00:12:53.360 And I felt compelled to make this because I hope that some of you identified with this because I 132 00:12:53.360 --> 00:13:00.320 would bet that the majority of you are doing this. How not to get leverage. There are five pieces 133 00:13:00.320 --> 00:13:05.200 to this that I want to break down today. Number one, uninformed optimism. Number two is a story I'll 134 00:13:05.200 --> 00:13:09.120 tell you about a construction buddy of mine. Number three is something I call the magic wand story. 135 00:13:09.120 --> 00:13:12.240 Number four is half bell bridges. Number five is woman the red dress. You're like I have no 136 00:13:12.240 --> 00:13:16.880 fucking clue what that means. You will. So let's start with uninformed optimism. Who here is 137 00:13:16.880 --> 00:13:21.600 seen this? This is stages of change, stage of transition. Anyone seen this this chart before? 138 00:13:21.600 --> 00:13:25.920 Okay, cool. Not a lot of you. Perfect. So there are five steps. And I remember the first time I 139 00:13:25.920 --> 00:13:32.720 saw this it like it changed my life. Whenever you're analyzing something new, who here has had a 140 00:13:32.720 --> 00:13:36.400 buddy tell you about something that they're doing and they're making a lot of money doing it. And 141 00:13:36.400 --> 00:13:40.160 then you immediately feel shitty about what you're doing and then think I should get out of my 142 00:13:40.160 --> 00:13:44.960 opportunity vehicle. Go over here and do what they're doing. Who's felt that? Thank you. Everyone has 143 00:13:45.600 --> 00:13:51.200 the reason is because we're at step one, which is uninformed optimism. You don't know enough 144 00:13:51.200 --> 00:13:55.280 about what they're saying. They're just giving you the highlights. They're giving you the Instagram 145 00:13:55.280 --> 00:14:00.480 real. They're not giving you the real. Once you decide to get out of your little vehicle and then 146 00:14:00.480 --> 00:14:04.240 going over there, then you tell your buddy like, Hey, why am I not making money? He's like, Oh, 147 00:14:04.240 --> 00:14:07.520 well, there's like a hundred other fucking steps that I didn't talk to you about in the beginning, 148 00:14:07.520 --> 00:14:11.920 but like, and it's actually nearly impossible. And I got really lucky that one time. And now, 149 00:14:11.920 --> 00:14:15.280 if I said it looks like all the people at your old job are making more money than you. But yeah, 150 00:14:15.280 --> 00:14:20.480 let's keep doing it. So you move to stage two, which is informed pessimism. You are now aware of 151 00:14:20.480 --> 00:14:25.040 the shit that is involved to make the money that you want and this new thing. Now you think, okay, 152 00:14:25.040 --> 00:14:32.480 this is probably the worst part. But then time elapses. And it's still shitty and you still haven't 153 00:14:32.480 --> 00:14:39.120 made money yet. It blows more now because you have invested more time and still have zero. So 154 00:14:39.120 --> 00:14:45.200 your actual output to time is low rate, which is why it's so painful, which is where people get 155 00:14:45.200 --> 00:14:49.040 into the crisis of meaning. Why the fuck am I doing this? What does money even matter? 156 00:14:49.040 --> 00:14:52.880 Anyways, you know what I'd be happier if I just spent more time with my kids. You change your 157 00:14:52.880 --> 00:14:58.640 goal because you encounter difficulty. And so what happens most times is that people then crash 158 00:14:58.640 --> 00:15:04.160 and burn. So if you're at the crisis of meaning, this is where most people offshoot. What happens 159 00:15:04.160 --> 00:15:09.680 here? Were that that fourth dot there on the bottom? If I were to cross it out and write uninformed 160 00:15:09.680 --> 00:15:14.880 up in the museum again, that's what most of you do. You find about something cool, 161 00:15:16.240 --> 00:15:19.760 informed pessimism, it kind of sucks. Oh shit, it's way harder than I thought. 162 00:15:20.800 --> 00:15:26.320 Uninformed optimism. I'll try something else. And then you do it again and again and again. 163 00:15:27.040 --> 00:15:32.480 And the difference between video games and real life where you face the boss and you can't pass 164 00:15:32.480 --> 00:15:37.840 the level until you beat the boss is that when you die in the video game, you restart a few seconds 165 00:15:37.840 --> 00:15:43.840 later. In the game of entrepreneurship, you start years later. This is why people don't progress. 166 00:15:43.840 --> 00:15:48.080 They keep fighting the same boss that can't learn the same fucking lesson. They keep losing. 167 00:15:48.720 --> 00:15:52.880 And I'm saying this because some of you I heard at yoga land and I know that that's representative 168 00:15:52.880 --> 00:15:59.040 of other people here. You keep fighting the same boss and the boss is being able to stick with it. 169 00:16:00.480 --> 00:16:04.560 Is getting through in different charts on this. The crisis of meaning is also called the value of 170 00:16:04.560 --> 00:16:11.200 the spare is getting through. From there, you get into informed optimism. You figure out that little 171 00:16:11.200 --> 00:16:15.440 thing. I had to do this one thing and then this started working and then you know what I found out 172 00:16:15.440 --> 00:16:18.880 I could clean the list through this tool I found on the internet because I joined this form and they 173 00:16:18.880 --> 00:16:22.640 started doing that and then all of a sudden my pick up rates tripled right or my response 174 00:16:22.640 --> 00:16:28.480 rates tripled or my throughput on my website went up whatever it is right and so you have to get 175 00:16:28.480 --> 00:16:33.360 through that piece then you get to informed optimism and the number six you achieve and then 176 00:16:34.000 --> 00:16:37.840 all your friends are like, what are you doing? You're like, oh I got this thing and then all of them 177 00:16:37.840 --> 00:16:42.320 come right. That is where most people start something now over and over and over again and they don't 178 00:16:42.320 --> 00:16:50.960 learn the lesson and so this is what their life looks like. Over and over and over and over and 179 00:16:50.960 --> 00:16:57.680 over again. Who here has more than one business in the last 24 months? Be honest. Thank you for 180 00:16:57.680 --> 00:17:03.840 being honest. I appreciate it. First thing, it's normal. I had nine businesses and I was broke. 181 00:17:04.560 --> 00:17:09.120 So I say this with the pain of experience. I'm not saying this to be on a pulpit. I'm saying 182 00:17:09.200 --> 00:17:12.880 because the faster you can get through it, the faster you will start making money. You have to 183 00:17:12.880 --> 00:17:19.120 beat the boss. Everyone thinks the grass is greener but the other side is still lined with shit. 184 00:17:21.120 --> 00:17:24.720 Like that's why the grass is so green. They're shit everywhere. I have a CFO who's been with us 185 00:17:24.720 --> 00:17:29.440 for a long time. She went through all of our exits last year. She's probably almost 60 and she 186 00:17:29.440 --> 00:17:33.920 asks us saying she's like, it's all shit. Doesn't matter what business it is, they all got 187 00:17:33.920 --> 00:17:40.080 shit. She's southern. And Suzanne's awesome. But it just always reminds me of this is that there's 188 00:17:40.080 --> 00:17:43.920 always shit. Whenever we're starting something new, we encounter something that we didn't know before 189 00:17:43.920 --> 00:17:48.240 and we're like, oh, this makes this shittier. And then we think, well, are we going to jump out? 190 00:17:48.240 --> 00:17:54.400 No. Well, this is new information. Great. We're more informed. Fantastic. So that is the thing 191 00:17:54.400 --> 00:18:00.080 number one that is keeping you poor. Uninformed up. Uninformed optimism. Number two is a little 192 00:18:00.080 --> 00:18:04.960 story I want to tell you. So I was called up probably two, three years ago by a guy I knew in 193 00:18:04.960 --> 00:18:08.560 high school. We hadn't talked in a while. And he said, hey, I've got this roofing business. 194 00:18:09.280 --> 00:18:11.840 You know, when I want to scale it, I want to go big. I was like, that's awesome, man. 195 00:18:12.720 --> 00:18:15.200 And so he's telling me about the roofing business, telling me about the roofing business. 196 00:18:15.200 --> 00:18:19.680 And then all of a sudden, he says, oh, yeah, I mean, we also do some general contracting work. 197 00:18:19.680 --> 00:18:26.160 I was like, okay. Why don't you grow the roofing business? He's like, why, you know, 198 00:18:26.240 --> 00:18:32.480 don't leave money on the table. Okay. And then this is going to sink in for some of you guys. 199 00:18:33.440 --> 00:18:37.840 And then he was like, I was like, so you've got the roofing. You got the GC stuff. He's like, 200 00:18:37.840 --> 00:18:42.640 yeah, that's what I'm doing. He's like, he paused for a second. He's like, well, we also kind of 201 00:18:42.640 --> 00:18:48.720 flip houses too. So we like fix them and flip them. We also do the contracting work, but we fix 202 00:18:48.720 --> 00:18:52.160 the roof. So we just get huge caught. We're vertically integrated. I was like, did you make 203 00:18:52.160 --> 00:18:55.280 less three million bucks? You're going to fucking vertically integrated. You're distracted, right? 204 00:18:55.920 --> 00:19:01.120 And he was like, how do I scale? And I was like, just pick one. It's like, what do you mean? I was 205 00:19:01.120 --> 00:19:05.120 like, pick one. It's like, why do you think you can't build a billion dollar roofing business? 206 00:19:05.840 --> 00:19:10.320 Just doing roofing and just get better doing roofing. He's like, well, I don't leave money on the table. 207 00:19:11.200 --> 00:19:16.400 Who here said they don't leave money on the table? The money you were leaving on the table is the 208 00:19:16.480 --> 00:19:22.960 focus that you're not giving the one thing that matters. And so by the way, this is the self-made 209 00:19:22.960 --> 00:19:28.560 woman list for Forbes. This is Diane Hendricks. She's the number one wealthier self-made woman, 210 00:19:28.560 --> 00:19:33.600 by the way. And she owns, if you can see it there, ABC supply, which is roofing. 211 00:19:35.040 --> 00:19:42.320 Not cassopping. Not general contracting work. Roofing. Why didn't he build that? 212 00:19:42.640 --> 00:19:49.520 He's smarter than Diane Hendricks. That's why. So this is the list. And this is what I want you to 213 00:19:49.520 --> 00:19:54.800 notice about this. This is the Forbes, the top six for women, self-made. Notice the age of the people 214 00:19:54.800 --> 00:20:01.680 on there, age is the left column, 75, 78, 84, 90, 89, 63. On the right, notice the source. 215 00:20:02.320 --> 00:20:08.400 Roofing, healthcare software, retail and gas stations, trucking, little Caesars pizza, IT. 216 00:20:09.040 --> 00:20:16.640 So sexy. The point of this slide is that if you want to build something epic, you have to be 217 00:20:16.640 --> 00:20:20.720 able to do the same thing for an extended period of time without convincing yourself you're smarter 218 00:20:20.720 --> 00:20:25.600 than you are. Which means if you wanted to not make money, this is what you should do. 219 00:20:26.400 --> 00:20:32.480 Number one, do lots of different things. Number two, do them for short periods of time. 220 00:20:32.480 --> 00:20:37.920 Don't stick with it too long because you might see success. Number three, do not get help. 221 00:20:38.000 --> 00:20:43.120 Okay. Number four, make all the mistakes in your own. It's the best way to do it because otherwise 222 00:20:43.120 --> 00:20:45.920 if you start learning from other people's mistakes, you can move faster. So don't want to do that. 223 00:20:46.720 --> 00:20:51.280 When you make a mistake, do it again. Just repeat it. Especially if you're like, I've been here 224 00:20:51.280 --> 00:20:55.840 before. Do the same thing. Who here knows the definition of learning? I'll tell you. 225 00:20:57.760 --> 00:21:03.760 Same condition, different behavior. So if you want to teach someone something and you 226 00:21:03.760 --> 00:21:08.480 present them the same condition and they have not changed their behavior, they have not learned. 227 00:21:09.840 --> 00:21:14.880 If you came to this workshop this weekend with the intention of learning something, can I get 228 00:21:14.880 --> 00:21:17.840 everybody raised here if they had the intention of learning something while they were here? 229 00:21:18.800 --> 00:21:26.320 If you go back home and your behavior does not change, you learned nothing. Nothing. 230 00:21:27.280 --> 00:21:32.880 Truly took the money and burned it along with losing the output that you lost in the time of 231 00:21:32.880 --> 00:21:40.080 here plus travel. So if that definition has been singed into my mind because I want to learn something 232 00:21:40.080 --> 00:21:44.080 and I have the same condition that's been presented, I have to ask myself if I do the same thing 233 00:21:44.080 --> 00:21:48.960 again, it means I have not learned. And I don't want to play this boss again. So if you do want to 234 00:21:48.960 --> 00:21:53.840 make money, you can flip it. You do one thing for a very long period of time. You get help from other 235 00:21:53.840 --> 00:21:58.800 people. You observe what other people have been doing. You only make the mistake one time if you 236 00:21:58.800 --> 00:22:02.960 are going to make them and you always grow and challenge the beliefs that you had and try and 237 00:22:02.960 --> 00:22:07.920 answer the question, what do I believe to be true that is not? Because ordinary business is done 238 00:22:07.920 --> 00:22:13.920 for extraordinary time, create extraordinary results. Compounding is the thing. Like it has to 239 00:22:13.920 --> 00:22:18.560 compound. If the vehicle you were in right now does not compound with time, then change the vehicle. 240 00:22:19.600 --> 00:22:23.040 Get into something that if you stick with it for an extended period of time, it will be unreasonable 241 00:22:23.040 --> 00:22:32.480 that you will be poor.