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I started and sold a software company, started and sold a gym licensing business, started

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and sold a supplement company, and six other businesses over the last 13 years.

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The vast majority of businesses that I talked to, the entrepreneurs think they're in one

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business, but they're actually in another.

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By only being able to solve one set of problems, they continue to jump from business to business,

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rather than realize that there's one big problem, the business they're actually in, that

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unlocks all the enterprise value that gets it to the next level.

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But if you want to make a big business, you want to build an asset that makes you generationally

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wealthy, this is for you.

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I have made the mistake in almost every business that I've been in, in thinking I was getting

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into one business, one in reality, I was getting into a very different business.

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And discovering the real business that you're actually in is what will unlock the amount

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of growth and money making that you really want to get into.

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It's usually the second and third level of entrepreneurship within whatever opportunity

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you're pursuing.

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So let me give you example, kind of make this real.

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When I got into the gym business, I liked fitness.

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So I thought that the business was going to be about like macros and results and workouts

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and all of that.

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That's what I thought the business was going to be about.

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But once I got into the business, I realized it was actually just about marketing and sales.

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That specific business is about marketing and sales overall.

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Now when I make these generalizations, all businesses are like cars.

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Like if you don't have wheels, the car's not going to move.

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If you don't gas, the car's not going to move.

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If you don't have an engine, the car's not going to move.

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But the question is, what is the biggest limit or what's the biggest thing that

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gives you the most return in that specific vehicle or that specific business?

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And so I'm going to walk you through four or five different businesses that I've been

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where what I thought it was versus what it really was.

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And then I'll turn it back to you and thinking about how you can apply that same methodology.

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And I'll bet you many of you, and I get this because I have a lot of conversations with

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business center of the day.

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They don't know what business they're really in, all right.

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So I thought it was about fitness, but it was actually about sales and marketing.

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If you look at the biggest fitness companies in the world, like especially in the gym space,

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their acquisition machines, that's what they are very, very good at.

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The actual fitness component of it is actually pretty minor, right?

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And I mean, I'll tell you this from talking to the franchise or assume many, many locations

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or privately owned ones have thousand plus locations that the fitness stuff is almost

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an afterthought.

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They're like, yeah, yeah, get people to sweat, move around, whatever.

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Because the reality is that within fitness, for example, the biggest problem is that people

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don't show up because of other reasons.

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And so you have to always go get more customers.

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The good news is that everyone's trying to lose weight three times a year.

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And so there are plenty of people.

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So that was the first business that I misunderstood what business I was really in.

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Now, thankfully, quickly I learned that and then that became the skill set that I, you

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know, doubled down on.

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Now, with that, I then was like, okay, well, I'm going to start a self-encoder, which

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was which prestige labs.

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Now again, I thought that business was going to be all about the product.

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I thought it was all going to be about the stuff that's inside of it.

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And so I got Dr. Cash, he my good friend, who's biohazard, PhD biochemist, one of the

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smartest human beings on earth.

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And I said, Hey, man, can you make the best products?

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I said, make a sandwich you would actually, because he made all these things for Olympians.

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And he would put together these trash bags full of like specific ingredients and specific

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compounds.

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And he's like, dude, these are going to be way too expensive, like it's not going to

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be commercially viable based on the quality of the ingredients.

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And I was like, dude, just make the best product, I'll figure out how to sell it.

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And so that's, that was the focus that I had in prestige labs.

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But guess what?

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Once I got into that business, I realized that it actually had very little to do with

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what was in the bottle because basically anything, anything that's in a bottle that you

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don't taste, the inside, the vast majority of products that are out there benefit off

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of placebo and no-cebo effect, basically people taking something and then they feel better

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because it takes something.

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And I want to be clear, placebo effects are real effects.

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So like, I'm about the effect, whatever works for you works for you.

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And that's not really the point of this talk.

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But more so that I got into the business thinking that what was inside the bottle was

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the thing that mattered, but the reality was what was on the outside of the bottle and

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the thing that the bottle was next to, meaning it became what I realized almost too late

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was that it's a business that's based on brand.

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It's based on branding and it's based on media in terms of having tons and tons of traffic.

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And so I thought I was building a product based company that was going to be based on

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what's inside the bottle when everything that was limiting the business, what was on

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the outside of the bottle.

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And I saw the guys who were the biggest in the space and this is the little telltale sign

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by the way, if you want to hack this.

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Because you look at the people who are the biggest in your space.

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So take your model, take it to a national extreme and look.

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And I think there's a lot of wisdom that can be found from that and try to reverse engineer.

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Like, what are the things that make this different?

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Now, you might be like, and here's, this is what I used to do.

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All right.

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So like, don't make this for sick.

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When I was in the gym entry, I would look like when I started out, I was like, oh my

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God, I can make way better workouts than those guys.

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That's because those guys don't give a shit about their workouts because that's not

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the main thing in the business.

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I got into the sub-business, oh my God, like these guys are making hundreds of millions

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dollars on this product.

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There's just mediocre.

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Like, the thing is, is that most of the customers that are buying it don't even know the difference

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anyways, which means that your differentiator isn't actually making it different.

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You're the only one who knows your differentiator, which is not good.

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Your customer has to realize what the differentiator is.

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And so the thing is, is that for most supplements, the differentiator is LeBron takes it or

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so and so takes it or I think this is cool or my friend Sally likes it, right?

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Or, and I'll be clear, on a consumables perspective, if it has a flavor, then the flavor becomes

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very important in the long run in terms of how good it tastes because most people take

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AG1 because they think it tastes good and because they feel good about it, not because

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it's inside of it.

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All right.

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So just to be clear, I got into the gym business and I thought it was about fitness,

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but it was really about marketing sales.

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I got into prestige labs to sub-business and I thought it was about the stuff inside

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the bottle and really about brand and building a big media traffic machine.

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And then I was like, okay, I think I'm getting the hang of this, I've just making mistakes

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over and over again.

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And then I got into the software business and I was like, okay, I get it, everything's

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about marketing sales, I'll be able to sell the shit out of this and guess what?

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We sure as hell could because I knew how to market and sell.

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And so then I got into the software business and I realized by the way, side note, software

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tends to sell itself, you know why?

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Because if you can't have technology and say, hey, there's that thing that you're doing

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that this will do automatically, not a very hard pitch, but the problem with software

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is actually delivering on the promise.

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And so it actually is a very product driven business because anyone can sell it.

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The constraint, like software is not that difficult, at least this isn't my experience

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with this.

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All right.

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So take that with my big Himalayan-sized grain of salt.

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For me, that's what I realized that product is the main thing and guess what I don't

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want to start it out.

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I outsource the product.

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I had an outsource dev team make the product for me, which I then realized was the core

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part of the business.

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It's like starting a sub company and then trying to have an agency build your sub and

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come before you.

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If you're in the sub business or you're in the consumer product goods business, outs

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sourcing acquisition, outsourcing brand, outsourcing media is like, it's, that's the

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business.

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That's the business you're in.

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It's not the stuff inside the bottle.

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All right.

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So give me another one.

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So I had a gym owner from a mine, from many, many years ago, he was in, he became a

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gym owner.

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He was a licensee.

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Awesome guy.

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And he started.

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He had a couple of locations and his wife started a cleaning business because they got

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into Airbnb and started making money in the gym.

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So he started investing and he realized he actually liked real estate better than he liked

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the gym, which is awesome, great.

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And so they started a cleaning company to clean houses for the Airbnb's, but then they

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realized they got in the Airbnb community and they also got in just like that area and

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they're like, you know what?

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We could probably just sell cleaning to other people.

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And so this was interesting.

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I had dinner with him and he was saying, I was like, so what's your LTV to CAC?

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He's like, oh, dude, CAC's like $25 and I was like, what?

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He's like, oh, getting customers in cleaning, not a problem.

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And he was like, this is so different from the gym business because the gym business

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getting the customers, getting him to arm wrestle Suzy for an hour to get her to say,

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yes, he's going to stop eating crap and start coming to the gym three times a week.

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But if you just say, hey, I'm going to clean your stuff and you don't have to do anything,

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not a very hard sale.

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And so you said the real problem that I'm having right now is actually getting people to

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do the cleaning, right?

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He's actually getting hot, you know, people who speak English, who don't steal, who show

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up on time and do all that and like, do a good job consistently.

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He's the problem, that's actually the problem of the business.

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And so I had this, it was a great moment for me because I love seeing, finding out,

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finding out what is the real business behind the business.

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And so if you're in the cleaning business, you're not in the cleaning business.

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You're in the recruiting and training business.

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You have to learn how to get low skill labor in high volume to show up for you consistently,

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which is a cultural thing.

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It's a training thing and part of that has to do with brand.

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But a lot of it is just having the incentive system structured such that that type of person

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can still succeed.

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And he had a cool little thing that he did.

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He did it.

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He had a setup where they got paid not by hour, but by clean.

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And so they were actually incentivized.

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And so basically, and this, by the way, big pro tip on business is you want to have paired

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incentives.

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So it's like having quality and speed.

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And so it's like if you have a customer support team, you want to measure them not just

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on like percentage of tickets that are absolutely resolved.

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You also want to have speed of completion.

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If you only have one, then you have lots of people responding as quickly as possible,

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but not getting it done.

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And on the flip side, if you just do on whether the ticket is completely resolved, people

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won't move fast enough.

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And so it's having paired metrics.

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Andy Grove talks about this in high output management, really good book.

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If you ever like want to learn more about ops, pretty high level though, just to be really

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honest with you.

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But it's a great book.

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Anywho.

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And so the paired match for for him was you get, you can clean as many houses as you can

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in a day and I pay you per clean.

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And so that drove up his productivity per employee.

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And so the paired metric was that if you don't do a good job, you have to go back and do

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it again in no cost.

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And so that was the deal.

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And that was also part of his offer for the cleaning thing and it worked really great.

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And so like if you don't think we do a good job, we'll come back and clean your whole house

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again and we'll do it for free.

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And so that was the paired metric again.

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So he thought he was getting the acquisition business like dude, I can get customers all

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day long in this business.

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And he came from the general and expected it to be the same.

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And so I've noticed this is this continued thing is that what I think I'm getting into

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is actually not the real constraint of the business.

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And I'm going to, I don't want to leap frog ahead here, but like this is a little bit

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of foreshadowing for the woman in the red dress.

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All right.

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So I'll just leave that there.

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All right.

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So I'll give you one for the anybody who's in like the consulting space or professional

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services space.

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If you sell to businesses, you sell how to market, how to, I mean, even accounting.

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You sell lawyer stuff.

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You do consulting in general.

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Any of that stuff, you think that you're in the marketing and sales business, because

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that's what people will tell you, right?

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And if you really want to play this game at a high level, now again, it's a car.

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If you have no marketing and sales, you're not going to have a business, right?

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But which is the things is the thing that unlocks the biggest level of growth is actually,

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again, look at the biggest companies in the space.

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You look at EY, Ernst and Young, you look at KPMG, you look at, you look at McKinsey,

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you look at Bane, you look at BCG, some of these big public, massive firms, multi-billion

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dollar, hundred billion dollar companies.

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What is, what is the thing, what is the business they're really in?

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They're in the recruiting business as well, and specifically the talent management business,

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because different than the cleaning business, now structurally it's recruiting for sure.

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But it's at a completely different level.

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They're trying to skim the cream of the crop, because how do you scale expertise?

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They're intelligence on demand.

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If you go to the bet, you go to Pulsanale, you go to some big, big law firm, right, in

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Manhattan, right?

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Some big law firm of the Manhattan address, they have to attract the absolute best and

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brightest people.

242
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Otherwise, the brand will degrade over time, but how do you attract the best and brightest

243
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people?

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Well, that's why a lot of these professional services businesses are based on partnerships,

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they're limited partners, they're LLP's, all right, and so that's because anybody

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they have a track for eventually becoming an owner in the business, and most service-based

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businesses that rely on expertise have tracks for people to have small slices of ownership,

248
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and they're willing to have a small slice of a two hundred billion dollar pie, rather

249
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than start out on their own.

250
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They also have sub-specialties underneath of that, you're an IP lawyer, you're a defense

251
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lawyer, whatever, they've all these different, you know, sub-tracks underneath of that.

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And so, again, you get into the consulting business and people say, hey, it's about

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marketing and sales, but really, if you want to scale, and again, this is the thing,

254
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if you want to scale, if you just want to make money, then sure, just market and sell,

255
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and you can make a buck, right, that's not the problem.

256
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But if you want to get big, you want to build an asset, the business you get in there

257
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is on talent, and how do you retain talent, and how do you improve the value of that talent,

258
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and make them look?

259
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Otherwise, what do you do?

260
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What happens if you do a great job with talent in that business, but you don't retain

261
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them?

262
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They take off, they take your customers, and they leave, they start their own shop, they

263
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hang their own chandelier, that's the game there, right, and so the gig, what you have

264
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to figure out, this is the big billion dollar problem, is what you have to do, all right,

265
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now, I'll leave it at that because I think I made the point.

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Now, here's why this is important, is that if you know the business that you're really

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in, you actually can get paid to solve the right problem, all right, now, the way that

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I like to think about this is that, like, as entrepreneurs, we get paid to solve problems,

269
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and the bigger the problem, the bigger the payoff, and so I like to imagine, like, I've got

270
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this big, massive wall in front of me, and the thing is, is I see the wall, but I don't

271
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know how thick it is, but I have an idea that it's pretty thick, right, because I'm like

272
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shoot, I don't know how I'm going to get through this wall, but I like to mentally envision

273
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myself that there's this big pile of money on the other side, and I remember having this

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conversation with the portfolio company, we're like, hey, we think that we need to build

275
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software into this business and actually transform this business from a media company

276
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into a software company.

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And it's like, this is a big strategic bet, like, a lot of resources, a lot of time, basically

278
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a lot of, like, lost growth, like, instead of us gassing it on this side, we're actually

279
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going to basically maintain here and then deploy a lot of resources into growing software.

280
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And so I was talking to the founder, and he was like, this is really hard.

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This is going to be really, really hard for us to do, and I was like, yeah, yeah, it's

282
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going to be really hard.

283
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And I said, but if we solve it, we get an extra $250 million.

284
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So does that feel worth it?

285
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And he was like, well, when you say like that, and I was like, right, so for $250 million

286
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bucks, when I solve it, yeah, it feels, it feels a lot more approachable, or at least

287
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it feels worth it.

288
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And so I'd encourage you to think like, what is the ultimate price tag of me solving this

289
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problem worth?

290
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And then all of a sudden, you're like, okay, then you can actually appropriately allocate

291
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your personal resources to solving the problem because it really will make you a lot of money.

292
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Now, a lot of times we need to frame the problem for what we get by solving it, otherwise

293
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we avoid solving it.

294
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And so knowing the business that you're really in isn't really what you think it is.

295
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It's often the second or third order effect, and that's the big wall.

296
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And so you come in like my friend did, he starts acquiring customers, he's like, I'm

297
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going to make so much money here.

298
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And he's like, oh, shoot, I got to hire and staff people.

299
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Boom, he sees this big wall, and he's like, oh, I'm not equipped to solve this problem.

300
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And this, here it is, this is the meat.

301
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This is the part that I've been waiting to get you and hammer you guys on.

302
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Is, hey, and if you'd like to get personalized advice on how to scale your business and unlock

303
00:14:53.240 --> 00:14:56.400
the enterprise value, kind of like the stuff that we're talking about here today, acquisition.com

304
00:14:56.400 --> 00:15:02.240
just started its new workshop division, where we host one or two days a month at our headquarters

305
00:15:02.240 --> 00:15:06.440
here in Vegas for businesses that were not necessarily invested in, nor do you have

306
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to become a portfolio company.

307
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But it's a way for us to meet more companies for you to meet us, for us to help you solve

308
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some problems, unlock some big value.

309
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If that sounds a little interesting, go to acquisition.com, hit the scaling button, and

310
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our team will see if you qualify, hope to see you soon.

311
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The woman in the red dress appears now.

312
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As soon as you realize the business you're really in, and you also realize that you're

313
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not equipped to solve it because you don't know what the hell you're doing, and you don't

314
00:15:31.400 --> 00:15:33.560
know what you got into to begin with.

315
00:15:33.560 --> 00:15:35.600
That is when the woman in the red dress appears.

316
00:15:35.600 --> 00:15:39.720
Now, if you're not familiar with my stuff, the woman in the red dress is any shiny object.

317
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It's the distraction.

318
00:15:40.880 --> 00:15:43.440
And the interesting thing about the woman in the red dress is that the better you get to

319
00:15:43.440 --> 00:15:45.080
the business, the hotter she is.

320
00:15:45.080 --> 00:15:49.920
So you think you learn to say no to a two out of ten, because you've got some crackhead

321
00:15:49.920 --> 00:15:50.920
lady on the side of the street.

322
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It's like, okay, she's like, hey, let's go.

323
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I'm good.

324
00:15:53.320 --> 00:15:57.000
I'd rather just not get climidious slash whatever you've got, right?

325
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And so all businesses have shit.

326
00:15:59.520 --> 00:16:00.720
They all have shit.

327
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They all have a big brick wall that you have to come in contact with.

328
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And guess what?

329
00:16:05.320 --> 00:16:08.360
That's why you get paid to solve the fucking problem.

330
00:16:08.360 --> 00:16:12.480
That's why you make outsized returns is because you have to be willing to confront with

331
00:16:12.480 --> 00:16:17.120
the sledgehammer in hand, not knowing how thick the wall is going to be and start hammering

332
00:16:17.120 --> 00:16:21.440
away at it with the hope that when you get to the other side, it will have been worth

333
00:16:21.440 --> 00:16:22.440
it.

334
00:16:22.440 --> 00:16:23.440
And often it is.

335
00:16:23.440 --> 00:16:25.800
Now, I want to drive this point home.

336
00:16:25.800 --> 00:16:28.600
So if you have a roofing business, if you have a restaurant business, if you have a

337
00:16:28.600 --> 00:16:33.360
dry cleaning business, all you have to do is look at the world and see, is there any

338
00:16:33.360 --> 00:16:36.680
version of this business that is a billion dollar company or even a hundred million

339
00:16:36.680 --> 00:16:38.640
dollar company, whatever your goals are.

340
00:16:38.640 --> 00:16:42.800
And most times you'll find that there is that, but you'll also find that it just takes

341
00:16:42.800 --> 00:16:46.800
time to get there because the other times I have, let's say small business actually happens

342
00:16:46.800 --> 00:16:47.800
a lot, right?

343
00:16:47.800 --> 00:16:51.520
Is, hey, I've got a, I've got a roofing contracting business.

344
00:16:51.520 --> 00:16:52.520
Okay.

345
00:16:52.520 --> 00:16:53.520
Cool.

346
00:16:53.520 --> 00:16:54.520
And they say, hey, should I jump into a different opportunity?

347
00:16:54.520 --> 00:16:55.520
And I'm like, well, okay, what are you doing?

348
00:16:55.520 --> 00:16:58.360
They're like, I'm doing four million top line, I'm doing a million bucks in bottom line,

349
00:16:58.360 --> 00:16:59.360
I'm okay.

350
00:16:59.360 --> 00:17:00.360
Okay.

351
00:17:00.360 --> 00:17:04.840
Well, why don't you just 10X the size of your company?

352
00:17:04.840 --> 00:17:08.960
And then they say, well, I've got this big concrete wall in front of me, right?

353
00:17:08.960 --> 00:17:13.520
What they described next is the real problem of that business, the business that they're

354
00:17:13.520 --> 00:17:16.680
really in that they didn't know they were getting into.

355
00:17:16.680 --> 00:17:18.680
And I want to be clear, this only happens at scale.

356
00:17:18.680 --> 00:17:19.680
All right.

357
00:17:19.680 --> 00:17:23.040
So once, like all businesses, like if you're, if you're, if you're new to entrepreneurship,

358
00:17:23.040 --> 00:17:24.920
you got to figure out the basics of everything.

359
00:17:24.920 --> 00:17:26.320
You got to figure out that a wheel is round.

360
00:17:26.320 --> 00:17:28.160
You got to make sure that gasoline is combustible.

361
00:17:28.160 --> 00:17:29.760
You got to make sure that there's some sort of engine.

362
00:17:29.760 --> 00:17:32.520
It might be a sewing machine in the beginning that's, that's powering a car.

363
00:17:32.520 --> 00:17:36.240
It might be a remote control car that can only go, you know, 10 miles an hour.

364
00:17:36.240 --> 00:17:39.280
But like, there's got to be some engine otherwise you're not going to get any movement, right?

365
00:17:39.280 --> 00:17:43.680
But when you start really want to achieve scale, there's going to be a big, hairy problem.

366
00:17:43.680 --> 00:17:46.440
There's going to be a big concrete wall in front of you that you don't know how thick

367
00:17:46.440 --> 00:17:47.920
it is.

368
00:17:47.920 --> 00:17:50.800
And that is the work.

369
00:17:50.800 --> 00:17:52.720
That is where the enterprise values are locked.

370
00:17:52.720 --> 00:17:57.720
And the vast majority of the time when we're investing in a company or we take over a company,

371
00:17:57.720 --> 00:18:01.440
we are just comfortable with the fact that there's a concrete wall and we're just going

372
00:18:01.440 --> 00:18:02.680
to chip away at it.

373
00:18:02.680 --> 00:18:06.160
And so a lot of the work that I do is actually expectation management with the team is saying,

374
00:18:06.160 --> 00:18:07.520
yeah, this is going to take two years.

375
00:18:07.520 --> 00:18:09.080
Yeah, this will take three years.

376
00:18:09.080 --> 00:18:10.680
And they're like, wait, three years?

377
00:18:10.680 --> 00:18:14.960
I'm like, yeah, well, I'm in this for, like, I mean, let me put it this way.

378
00:18:14.960 --> 00:18:18.040
If in five years we had a hundred million dollars enterprise to this business, is it worth

379
00:18:18.040 --> 00:18:19.040
it?

380
00:18:19.040 --> 00:18:20.040
They're like, well, yeah.

381
00:18:20.040 --> 00:18:21.040
And I'm like, do you think we can solve it in five years?

382
00:18:21.040 --> 00:18:22.040
I'm like, well, yeah.

383
00:18:22.040 --> 00:18:24.960
But then guess what they don't do?

384
00:18:24.960 --> 00:18:26.600
Be willing to wait five years.

385
00:18:26.600 --> 00:18:29.440
And so the thing is, is that sometimes it takes somebody from the outside to say, like,

386
00:18:29.440 --> 00:18:30.440
let's zoom all the way out.

387
00:18:30.440 --> 00:18:32.200
If you solve this for a hundred million bucks, is it worth it?

388
00:18:32.200 --> 00:18:33.200
Yeah.

389
00:18:33.200 --> 00:18:34.200
Okay.

390
00:18:34.200 --> 00:18:35.200
Well, it's going to take that long.

391
00:18:35.200 --> 00:18:36.200
Oh.

392
00:18:36.200 --> 00:18:37.200
Huh.

393
00:18:37.200 --> 00:18:38.200
And then things start to settle.

394
00:18:38.200 --> 00:18:40.280
And then you get this, you get less frenetic energy.

395
00:18:40.280 --> 00:18:45.880
The amount of wasted effort for entrepreneurs that goes into this ideation of what else they

396
00:18:45.880 --> 00:18:51.440
could be doing with their time or with their skill sets, honestly, it's like, oh, great

397
00:18:51.440 --> 00:18:52.440
analogy.

398
00:18:52.440 --> 00:18:54.480
It's like, it's like being single versus being married.

399
00:18:54.480 --> 00:18:55.480
All right.

400
00:18:55.480 --> 00:18:56.480
Hear me out.

401
00:18:56.600 --> 00:19:00.760
Is that when you're single, at least for me, when I was a guy, I would say 30% of my

402
00:19:00.760 --> 00:19:04.160
time was being genuine, maybe 40% of my time might have been higher.

403
00:19:04.160 --> 00:19:05.360
Anyway, I'm not going to answer.

404
00:19:05.360 --> 00:19:08.480
Was allocated to like the idea of chasing tail.

405
00:19:08.480 --> 00:19:10.720
So it was like, man, what if that worked out?

406
00:19:10.720 --> 00:19:11.720
What if that worked out?

407
00:19:11.720 --> 00:19:14.640
And I'm, I'm, I'm, I'm, I'm, I'm, I'm doing lead nurture, right?

408
00:19:14.640 --> 00:19:15.640
I'm working the pipeline.

409
00:19:15.640 --> 00:19:16.640
I'm planning seeds.

410
00:19:16.640 --> 00:19:18.120
I'm, I'm making a, a quickie comment.

411
00:19:18.120 --> 00:19:20.120
I'm responding to a story, whatever.

412
00:19:20.120 --> 00:19:22.280
And so I'm working leads.

413
00:19:22.280 --> 00:19:24.720
And so as I was doing this, right?

414
00:19:24.720 --> 00:19:30.400
All my attention was going to possibility was to potential was to what if, right?

415
00:19:30.400 --> 00:19:34.440
As soon as I got married, the thing, the biggest gift that marriage got me was it got

416
00:19:34.440 --> 00:19:38.360
me 30 to 40% of my time back was I didn't have to think about this.

417
00:19:38.360 --> 00:19:43.000
Like this part of my life was not done, but like, solved as in like, I'm going to be

418
00:19:43.000 --> 00:19:44.000
with Layla.

419
00:19:44.000 --> 00:19:45.000
Cool.

420
00:19:45.000 --> 00:19:46.000
Great.

421
00:19:46.000 --> 00:19:51.440
Now all the extra tension that used to go to like possibility in terms of what, who, of

422
00:19:51.440 --> 00:19:55.280
who else could be goes back into the main thing, which for me was business.

423
00:19:55.280 --> 00:19:59.440
Now within the business, it works the same way is that I think most of you guys are dating

424
00:19:59.440 --> 00:20:02.320
your business, but you need to get married to your business.

425
00:20:02.320 --> 00:20:05.480
You guys are trying to have friends with benefits with your business, trying to go on

426
00:20:05.480 --> 00:20:09.120
dates, maybe date a couple of the business on the side, have some side checks, and then

427
00:20:09.120 --> 00:20:12.720
you're wondering why your relationship with your business is in that healthy.

428
00:20:12.720 --> 00:20:16.280
If you go all in on the business, the business will go all in on you.

429
00:20:16.280 --> 00:20:20.880
And I promise you, it's just that the guy who's beating you right now, he's just committed.

430
00:20:20.880 --> 00:20:22.000
He's just married.

431
00:20:22.000 --> 00:20:23.000
He's just married to the business.

432
00:20:23.000 --> 00:20:25.520
He's like, I'm just, I mean, if it takes me five years, it takes me five years, but

433
00:20:25.520 --> 00:20:27.000
like, where am I going?

434
00:20:27.000 --> 00:20:28.000
Like I'm in this.

435
00:20:28.000 --> 00:20:29.560
I'm in it for the long haul.

436
00:20:29.560 --> 00:20:34.220
And he sees what the value of a 30 year marriage would be or a 50 year marriage would be

437
00:20:34.220 --> 00:20:36.240
with his business.

438
00:20:36.240 --> 00:20:41.880
And so if you know the business you're really in, which you usually find out a couple

439
00:20:41.880 --> 00:20:45.160
years into the business, which is once you solve the basics of business, you realize,

440
00:20:45.160 --> 00:20:47.400
oh, this is the big Harry problem.

441
00:20:47.400 --> 00:20:50.300
And then you don't know how long it will last, but I promise you that someone else has

442
00:20:50.300 --> 00:20:51.300
solved it.

443
00:20:51.300 --> 00:20:52.980
And I promise you that they weren't super geniuses.

444
00:20:52.980 --> 00:20:54.280
They just were willing to commit.

445
00:20:54.280 --> 00:20:59.980
They were willing to swing the hammer at the wall for a very long period of time and willing

446
00:20:59.980 --> 00:21:02.820
to zoom out and say, I can think in five year increments.

447
00:21:02.820 --> 00:21:06.860
And do I think that if I put everything I have and not get distracted with the woman

448
00:21:06.860 --> 00:21:11.620
in the red dress, not have the side chick, not have these, these other businesses I'm flirting

449
00:21:11.620 --> 00:21:13.580
with that I'm keeping warm on the side.

450
00:21:13.580 --> 00:21:16.780
These networking lunches for this guy might do a partnership with, even though it has

451
00:21:16.780 --> 00:21:19.700
nothing to do with this business because he says, hey, you're good at this.

452
00:21:19.700 --> 00:21:20.700
I'm good at this.

453
00:21:20.700 --> 00:21:21.700
We could do this thing together.

454
00:21:21.700 --> 00:21:22.700
None of that.

455
00:21:22.700 --> 00:21:26.140
And just being like, no, I'm just, I'm just going to keep slamming at this wall because

456
00:21:26.140 --> 00:21:31.660
if, if I just get this one thing right, if I just break through this wall, I won't unlock

457
00:21:31.660 --> 00:21:34.020
all of the wealth that I've ever wanted.

458
00:21:34.020 --> 00:21:38.820
But there is a big, thick, massive, gray, boring wall between there and where you want

459
00:21:38.820 --> 00:21:39.820
to go.

460
00:21:39.820 --> 00:21:42.700
And it's just who's willing to keep swinging the hammer for a long period of time without

461
00:21:42.700 --> 00:21:45.380
getting distracted and without thinking they're smarter than they are.

462
00:21:45.380 --> 00:21:46.380
Keep being awesome.

463
00:21:46.380 --> 00:21:47.380
Fucking sleigh.

464
00:21:47.380 --> 00:21:48.380
Love you all.

465
00:21:48.380 --> 00:21:49.380
Bye.