WEBVTT 1 00:00:00.000 --> 00:00:03.920 Quitting my job was the hardest entrepreneurial decision of my entire life. 2 00:00:03.920 --> 00:00:09.740 So rewind and fully years ago, I was sitting on my balcony, I was 22 years old, and I was 3 00:00:09.740 --> 00:00:14.600 staring out over this condo that I had purchased because of the job that I had paid me well. 4 00:00:14.600 --> 00:00:19.120 And I was looking over the city of Baltimore, and I thought to myself, is this it? 5 00:00:19.120 --> 00:00:21.920 Welcome to the game where we talk about how to get more customers, how to make more 6 00:00:21.920 --> 00:00:25.160 customers, how to keep them longer, and the many failures and lessons we have learned 7 00:00:25.160 --> 00:00:26.160 along the way. 8 00:00:26.160 --> 00:00:28.480 I hope you enjoy and subscribe. 9 00:00:28.480 --> 00:00:31.880 Quitting my job was the hardest entrepreneurial decision of my entire life. 10 00:00:31.880 --> 00:00:37.560 So rewind and fully years ago, I was sitting on my balcony, I was 22 years old, and I was 11 00:00:37.560 --> 00:00:42.160 staring out over this condo that I had purchased because of the job that I had paid me well. 12 00:00:42.160 --> 00:00:47.080 And I was looking over the city of Baltimore, and I thought to myself, is this it? 13 00:00:47.080 --> 00:00:52.520 And this was a rock top and rock bottom moment for me specifically because at that time 14 00:00:52.520 --> 00:00:57.400 I had graduated in three years from Vanderbilt, Madcom Loudy, I was president of all these 15 00:00:57.400 --> 00:00:58.400 things. 16 00:00:58.400 --> 00:01:03.440 While I was at school, I got a good consulting job, and I had saved almost $50,000 at that 17 00:01:03.440 --> 00:01:08.680 point in my life, and I had this condo that was increasing in value, and I saved pretty 18 00:01:08.680 --> 00:01:11.040 much everything minus my mortgage. 19 00:01:11.040 --> 00:01:17.080 And as I was looking out there, all I could think to myself was how I hated my life and 20 00:01:17.080 --> 00:01:21.800 how I hated my job, and I just didn't, I felt so empty inside. 21 00:01:21.800 --> 00:01:27.560 And I was so depressed that I really, every day I would consider as I was driving like, 22 00:01:27.560 --> 00:01:30.360 what if I wanted to the other lane and just like things would end. 23 00:01:30.360 --> 00:01:32.400 And so that was like my actual reality. 24 00:01:32.400 --> 00:01:35.400 And so that's called passive ideation, which is like, I'm not saying that I would want 25 00:01:35.400 --> 00:01:39.760 to kill myself, but if I died and didn't wake up tomorrow, I wouldn't be upset. 26 00:01:39.760 --> 00:01:43.200 And that was kind of the existence that I lived for two years of my life. 27 00:01:43.200 --> 00:01:45.120 And it was very hard time for me. 28 00:01:45.120 --> 00:01:48.720 And so I don't know where you're at in your entrepreneurial journey, but I kind of wanted 29 00:01:48.720 --> 00:01:52.200 to answer one of the questions that I get most frequently, which is, you know, when 30 00:01:52.200 --> 00:01:54.120 should I quit and start my own business? 31 00:01:54.120 --> 00:01:58.160 And so I think a lot of it depends on you specifically in self-awareness, and I'm going 32 00:01:58.160 --> 00:02:02.080 to talk about skill set in a second, but I want to talk about the mindset first. 33 00:02:02.080 --> 00:02:06.960 Me quitting my job was the single hardest decision that I've ever made in my entire life. 34 00:02:06.960 --> 00:02:08.960 And I mean that genuinely. 35 00:02:08.960 --> 00:02:10.640 It was the hardest decision that I've made. 36 00:02:10.640 --> 00:02:16.200 It took me six months to do it, and I listened to Arnold's Rules of Success Peach every 37 00:02:16.200 --> 00:02:19.600 morning when I wake up about, you know, it's okay to fail. 38 00:02:19.600 --> 00:02:23.680 And I had to keep saying this stuff because I was so outwardly driven, I was so status-driven 39 00:02:23.680 --> 00:02:26.840 that I didn't want to take the risk of being seen as a failure. 40 00:02:26.840 --> 00:02:31.880 And so it only was when I was literally confronted with my own, you know, the fact that I was 41 00:02:31.880 --> 00:02:36.880 really not even willing to be alive anymore is when that was kind of my jogging to awaken 42 00:02:36.880 --> 00:02:40.400 this moment where I was like, you know what, if I'm willing, if I don't even want to 43 00:02:40.400 --> 00:02:43.360 be alive anymore, then what's worse than that? 44 00:02:43.360 --> 00:02:48.440 And so that was what ultimately shot me on the trajectory to quit that job, sell the 45 00:02:48.440 --> 00:02:52.480 condo, put everything that I had in my car, and I drove across the country in 36 hours 46 00:02:52.480 --> 00:02:55.680 to California, which is where I thought the land of fitness opportunity would be. 47 00:02:55.680 --> 00:02:58.040 Now mind you, I was a management consultant. 48 00:02:58.040 --> 00:03:02.620 We did space cyber intelligence for the military at a subcontractor at Booz Allen if you're 49 00:03:02.620 --> 00:03:05.800 familiar with that consulting firm. 50 00:03:05.800 --> 00:03:09.720 And that's what I did for two years, and it sounds really cool and sexy, but it was 51 00:03:09.720 --> 00:03:12.640 not at all for me, and I really did not enjoy it. 52 00:03:12.640 --> 00:03:15.960 But I learned some valuable lessons like how to learn while I was there. 53 00:03:15.960 --> 00:03:20.400 And so I think that what most people, you know, it really depends on who you are and 54 00:03:20.400 --> 00:03:23.400 understanding your skill set, and honestly, and how much pain you're in. 55 00:03:23.400 --> 00:03:25.920 And so there's also different ways to satisfy that pain. 56 00:03:25.920 --> 00:03:32.440 I think true to my core, if I had been in a different company or I was working on different 57 00:03:32.440 --> 00:03:36.080 projects at that time of my life, I probably would have never quit. 58 00:03:36.080 --> 00:03:41.080 It was so hard for me, and I didn't have a wife, I didn't have kids, I had zero dependence, 59 00:03:41.080 --> 00:03:42.640 and I lived on nothing. 60 00:03:42.640 --> 00:03:45.960 And it was still one of the hardest decisions of my life. 61 00:03:45.960 --> 00:03:48.760 Because I'm very riskiver, so believe it or not, most entrepreneurs, you know, a lot 62 00:03:48.760 --> 00:03:51.640 of people talk about how they, you know, they didn't do well in school, and, you know, 63 00:03:51.640 --> 00:03:53.960 teachers never understood them, and they always knew they had to go out on their own. 64 00:03:53.960 --> 00:03:54.960 I never had any of that. 65 00:03:54.960 --> 00:03:59.460 I worked really hard in school, I did really well in school, you know, teachers liked 66 00:03:59.460 --> 00:04:02.920 me for the most part, and, you know, I got a good job afterwards. 67 00:04:02.920 --> 00:04:07.640 And so I did not have the traditional entrepreneur journey, and it was only because I was so sad, 68 00:04:07.640 --> 00:04:10.840 deeply depressed in that time of my life, and felt so empty, that I actually made the 69 00:04:10.840 --> 00:04:11.840 jump. 70 00:04:11.840 --> 00:04:16.800 And so I think the first thing is like, one, is there one, are you incredibly sad? 71 00:04:16.800 --> 00:04:19.800 Are you incredibly dissatisfied with your life, so much so that you'd be willing to 72 00:04:19.800 --> 00:04:20.800 uproot and change? 73 00:04:20.800 --> 00:04:24.440 Number one, number two, entrepreneurship is not easy. 74 00:04:24.440 --> 00:04:28.320 And so if you need, I think Elon Musk said this on a clubhouse meeting, and I just think 75 00:04:28.320 --> 00:04:32.320 it's so true, people are like, what words of motivation would you give for a new entrepreneur? 76 00:04:32.320 --> 00:04:36.480 If you need motivational quotes or motivational words, then entrepreneurship isn't for you. 77 00:04:36.480 --> 00:04:37.800 And I tend to agree with it. 78 00:04:37.800 --> 00:04:44.200 Like, if you need that motivation, like, it is one of the loneliest paths, period. 79 00:04:44.200 --> 00:04:47.240 You know, at least in co-workers, you have other people who are around you, but when 80 00:04:47.240 --> 00:04:50.400 you start on your own, you're starting at zero with no one, and basically no one's rooting 81 00:04:50.400 --> 00:04:51.400 for you. 82 00:04:51.400 --> 00:04:56.800 I mean, it depends on, like, for me, when I left, like, no one really supported me. 83 00:04:56.800 --> 00:05:00.840 My parents thought I was stupid, and that this was a stupid idea, I was throwing my education 84 00:05:00.840 --> 00:05:04.680 away, and I was risking everything to go start at GM, right, which is really not even 85 00:05:04.680 --> 00:05:06.480 that good of a return on investment, you know what I mean? 86 00:05:06.480 --> 00:05:09.880 But I was so committed to the fact that I was so miserable that I was, like, at least 87 00:05:09.880 --> 00:05:13.280 I can just live my life doing something that I enjoy, I don't even care if I make money. 88 00:05:13.280 --> 00:05:17.360 And that was literally the mindset that I was able to quit with. 89 00:05:17.360 --> 00:05:22.240 And so I took, again, I don't know where you're at, but the first piece of this is understanding 90 00:05:22.240 --> 00:05:24.080 short and long-term payoffs. 91 00:05:24.080 --> 00:05:29.280 I did not make a significant amount of money four years after I quit my job, right? 92 00:05:29.280 --> 00:05:34.640 So I'd say for the first four years, I essentially broke even and made less money than I did 93 00:05:34.640 --> 00:05:35.640 as it gets hold of. 94 00:05:35.640 --> 00:05:38.640 All right, so like, think about that for a second, right, and now there's a lot of mistakes 95 00:05:38.640 --> 00:05:42.600 on me too, and you're going to make them as well, because none of us is perfect. 96 00:05:42.600 --> 00:05:46.040 There's so many skills that you have to, like, you have to acquire so many skills to 97 00:05:46.040 --> 00:05:47.040 run a business, right? 98 00:05:47.040 --> 00:05:51.640 And so you may have a single job right now, and you are, you are doing one specific function 99 00:05:51.640 --> 00:05:55.640 of one specific sub-department of a business, but in order to be an entrepreneur, you have 100 00:05:55.640 --> 00:05:58.440 to understand all of it, right, in order to be a successful entrepreneur. 101 00:05:58.440 --> 00:06:01.280 So you have to understand how to generate demand, you have to generate, understand how 102 00:06:01.280 --> 00:06:03.480 to generate leads, you have to understand how to work leads, you have to understand how 103 00:06:03.480 --> 00:06:04.480 to sell. 104 00:06:04.480 --> 00:06:08.360 So you shouldn't have to fulfill and deliver, and how to manage people, how to communicate, 105 00:06:08.360 --> 00:06:13.120 how to relay expectations, how to recruit, how to hire, how to interview, like, there's 106 00:06:13.120 --> 00:06:15.800 so many things that you have to learn, and I don't want that to be overwhelming. 107 00:06:15.800 --> 00:06:20.800 I just want to confront you with reality, because honestly, if I knew how hard it was going 108 00:06:20.800 --> 00:06:25.160 to be when I started my first business, I don't know if I would have done it. 109 00:06:25.160 --> 00:06:29.080 I just forced myself into a hole, and I always like to say this is you'd be surprised 110 00:06:29.080 --> 00:06:31.480 what you're going to accomplish when you have no choice, right? 111 00:06:31.960 --> 00:06:36.400 As dark and morbid as I'm going to say is, and don't get triggered by this, but like, 112 00:06:36.400 --> 00:06:41.640 the fact that an entire race in our country was enslaved for hundreds of years and was 113 00:06:41.640 --> 00:06:46.200 still able to do that every day shows the strength of the human spirit, and what is possible 114 00:06:46.200 --> 00:06:47.800 when you have no choice. 115 00:06:47.800 --> 00:06:51.960 And so I think that to juxtapose what I said about how hard it is, if you can put yourself 116 00:06:51.960 --> 00:06:55.560 in a position where you have no choice, you will be successful, right? 117 00:06:55.560 --> 00:06:58.680 If you want to succeed as bad as you can breathe, you will be successful. 118 00:06:58.680 --> 00:07:02.920 And so I think that was the situation where I was in where I was, I knew that the alternative 119 00:07:02.920 --> 00:07:05.360 to what I was doing was death for me. 120 00:07:05.360 --> 00:07:08.120 And so it was just anything is better than this. 121 00:07:08.120 --> 00:07:12.720 And honestly, the next year of my life, even after that was still incredibly hard, but 122 00:07:12.720 --> 00:07:15.760 it was different, but it was still incredibly hard. 123 00:07:17.760 --> 00:07:20.120 You guys love that you're listening to the podcast. 124 00:07:20.120 --> 00:07:24.760 If you ever want to have the video version of this, which usually has more facts, more visuals, 125 00:07:24.760 --> 00:07:29.640 more graphs, you know, drawn out stuff, sometimes it can help hit the brain centers in different 126 00:07:29.640 --> 00:07:30.640 ways. 127 00:07:30.640 --> 00:07:31.640 You can check out my YouTube channel. 128 00:07:31.640 --> 00:07:34.800 It's absolutely free to check that out if that's what you are into and if not, keep 129 00:07:34.800 --> 00:07:38.840 enjoying the show. 130 00:07:38.840 --> 00:07:42.720 And so just to give you a couple of stats on this that I think I think everyone should 131 00:07:42.720 --> 00:07:47.520 have data to make decisions is proper expectations, right? 132 00:07:47.520 --> 00:07:51.520 So the average, so this is according to small business administration, the median, excuse 133 00:07:51.520 --> 00:07:57.440 me, the median income of a small business owner, $49,000 a year. 134 00:07:57.440 --> 00:08:01.280 So I don't know what you're making right now, but this is what the middle of the small business 135 00:08:01.280 --> 00:08:02.280 ownership makes. 136 00:08:02.280 --> 00:08:03.800 Now you might be making more than that. 137 00:08:03.800 --> 00:08:08.160 There are people who are number 30 at Google who make way more than this, right? 138 00:08:08.160 --> 00:08:11.800 And so you have to understand kind of where you sit on the hierarchy and there are some 139 00:08:11.800 --> 00:08:13.920 people who would be so much better served. 140 00:08:13.920 --> 00:08:18.000 There are so many of my ex employees who ended up going out on their own. 141 00:08:18.000 --> 00:08:21.040 And I don't think many of them make more than they did when they were with us. 142 00:08:21.040 --> 00:08:23.120 They probably have more stress and that's okay. 143 00:08:23.120 --> 00:08:26.480 That was their choice and there are trade-offs you make for freedom, right? 144 00:08:26.480 --> 00:08:28.080 There are trade-offs, right? 145 00:08:28.080 --> 00:08:29.080 Risk and reward. 146 00:08:29.080 --> 00:08:31.680 There are both of those things in the aspect of this decision, all right? 147 00:08:31.680 --> 00:08:34.720 Now, that's supposed to say average, sorry. 148 00:08:34.720 --> 00:08:38.600 Now if you're curious, what's the average small business owner make according to the SBA? 149 00:08:38.600 --> 00:08:39.600 $73,000 a year. 150 00:08:39.600 --> 00:08:43.400 Now, averages are skewed because there's top-end people that move that average up. 151 00:08:43.400 --> 00:08:45.360 So that should say average, sorry. 152 00:08:45.360 --> 00:08:50.280 But median's $49, that means that the most likely most repeated outcome is $49,000 a year, 153 00:08:50.280 --> 00:08:54.400 which is pretty much the median household income of the United States, kind of interesting. 154 00:08:54.400 --> 00:08:56.960 And then the average is $73,000. 155 00:08:56.960 --> 00:08:59.800 So it depends on where you're at and how to satisfy you are. 156 00:08:59.800 --> 00:09:03.960 And so the first thing is, are you dissatisfied because you don't like the company you work 157 00:09:03.960 --> 00:09:04.960 for? 158 00:09:04.960 --> 00:09:06.440 Are you dissatisfied because you don't like the work you do? 159 00:09:06.440 --> 00:09:10.440 Now both of those have solutions that are outside of starting your own business, right? 160 00:09:10.440 --> 00:09:14.120 You can just go and find a different position and learn on someone else's dollar, which 161 00:09:14.120 --> 00:09:17.600 is I think is so wildly under-appreciated. 162 00:09:17.600 --> 00:09:22.240 Like, go to a company that you like and learn and get paid to learn. 163 00:09:22.240 --> 00:09:23.240 That's amazing, right? 164 00:09:23.240 --> 00:09:26.400 Like, because you're not going to learn anything at school that's going to be useful for 165 00:09:26.400 --> 00:09:27.400 business, right? 166 00:09:27.400 --> 00:09:29.240 So if you want to be an entrepreneur, you're going to have to learn these things in the 167 00:09:29.240 --> 00:09:30.240 real world. 168 00:09:30.240 --> 00:09:34.280 And so going and getting paid to learn is one of the best things you can possibly imagine. 169 00:09:34.280 --> 00:09:37.160 You just have to understand that what you're getting paid for is not going to be your income 170 00:09:37.160 --> 00:09:38.240 for life. 171 00:09:38.240 --> 00:09:41.960 It's literally you getting paid to learn how to do something, which is amazing. 172 00:09:41.960 --> 00:09:42.960 I did not have that. 173 00:09:42.960 --> 00:09:47.400 I literally went from making money to starting to learn everything from scratch. 174 00:09:48.040 --> 00:09:50.440 And it was very difficult for me, all right? 175 00:09:50.440 --> 00:09:56.200 Now, the piece here about short term versus long term, if you make this decision, expect 176 00:09:56.200 --> 00:10:00.280 a three, four, maybe five year decrease in income, right? 177 00:10:00.280 --> 00:10:03.560 You're not going to make as much money for the first few years, right? 178 00:10:03.560 --> 00:10:06.560 And then maybe if you are successful when you reinvest in yourself and you grow new 179 00:10:06.560 --> 00:10:09.800 acquired skills and beliefs and attitudes and character traits, then you will be able 180 00:10:09.800 --> 00:10:10.800 to have the long term pay off. 181 00:10:10.800 --> 00:10:15.920 But entrepreneurship is the ultimate value investment in yourself, right? 182 00:10:15.920 --> 00:10:18.720 And so again, there are lots of people who don't have the risk tolerance for that. 183 00:10:18.720 --> 00:10:19.720 And that is okay. 184 00:10:19.720 --> 00:10:23.200 The vast majority of people should not be entrepreneurs, right? 185 00:10:23.200 --> 00:10:24.960 The second thing in terms of the choices, right? 186 00:10:24.960 --> 00:10:26.880 In the beginning, it's, do I need to switch companies? 187 00:10:26.880 --> 00:10:30.160 That's if I don't like what I'm doing, sorry, if I don't like the company I'm working 188 00:10:30.160 --> 00:10:31.160 for. 189 00:10:31.160 --> 00:10:34.640 Number two is do I need to switch what I'm doing and get paid to learn, which is a second 190 00:10:34.640 --> 00:10:37.720 alternative to quitting your position. 191 00:10:37.720 --> 00:10:42.640 Number three is if I like what I'm doing and I like the company, am I just not getting 192 00:10:42.640 --> 00:10:43.640 paid enough? 193 00:10:44.040 --> 00:10:46.640 Talk to them and see how you can provide more value. 194 00:10:46.640 --> 00:10:49.880 Do you not ask I would like to get paid more, say how can I provide more value? 195 00:10:49.880 --> 00:10:54.400 If you ask that question, any, any smart business owner will be able to tell you exactly 196 00:10:54.400 --> 00:10:59.520 to provide more value so that you can make more in a low risk environment, all right? 197 00:10:59.520 --> 00:11:03.880 And then the fourth way you can do this, if you're considering quitting, is start investing 198 00:11:03.880 --> 00:11:09.200 all of your extra time in acquiring the other skills and start actually doing it, spend 199 00:11:09.200 --> 00:11:13.600 some money on marketing, do some outreach, do those types of things to generate demand 200 00:11:13.600 --> 00:11:14.600 for your business. 201 00:11:14.600 --> 00:11:18.320 Now, in the beginning, it's going to be a side hustle, but over time, it can grow and then 202 00:11:18.320 --> 00:11:21.200 at a certain point, it will grow in excess of what you are currently making and then you 203 00:11:21.200 --> 00:11:22.200 can make the jump. 204 00:11:22.200 --> 00:11:23.400 I did not do that. 205 00:11:23.400 --> 00:11:27.000 What I did was candidly very stupid and I got lucky. 206 00:11:27.000 --> 00:11:28.000 I got very lucky. 207 00:11:28.000 --> 00:11:31.560 I got extraordinarily lucky that I had people who were able to speak into my life at an 208 00:11:31.560 --> 00:11:32.560 early time point. 209 00:11:32.560 --> 00:11:36.800 I was able to learn from experts very, very quickly, which candidly, I invested in that. 210 00:11:36.800 --> 00:11:42.040 I paid all of my savings that I'd saved up, the $50,000 was gone within the first three 211 00:11:42.040 --> 00:11:44.360 months of me starting entrepreneurship, gone. 212 00:11:44.360 --> 00:11:47.920 Because I paid for mentorship, I paid for coaching programs and I bought and I re-invested 213 00:11:47.920 --> 00:11:50.120 in a gym which I shouldn't have done. 214 00:11:50.120 --> 00:11:52.960 I shouldn't have opened it the way I did because I didn't know any better. 215 00:11:52.960 --> 00:11:56.000 The biggest issue, your biggest risk when you start on your own is that you don't know 216 00:11:56.000 --> 00:11:57.480 what you're doing. 217 00:11:57.480 --> 00:12:00.560 The idea is if you can decrease your downside risk by learning more skills, getting paid 218 00:12:00.560 --> 00:12:04.360 to learn them, asking your business how you can provide more value, which will allow 219 00:12:04.360 --> 00:12:07.080 you to learn more skills and get paid more as you do it. 220 00:12:07.080 --> 00:12:12.000 If you do all of those things and after doing all those steps, you still are not satisfied 221 00:12:12.920 --> 00:12:16.080 then be willing to make the risk and make the short-term tradeoff that you're going 222 00:12:16.080 --> 00:12:18.200 to make less for a period of time. 223 00:12:18.200 --> 00:12:24.680 This is why I'm such a big believer in living cheap, live cheap and keep your expectations 224 00:12:24.680 --> 00:12:30.080 at cheap so that if your income does drop, you're still not losing money and then long-term 225 00:12:30.080 --> 00:12:33.560 you can keep reinvesting in yourself so that you as the valuable asset can become more 226 00:12:33.560 --> 00:12:37.680 valuable and then increase in your earning potential and by extension because of the skills 227 00:12:37.680 --> 00:12:40.280 you learn or your business. 228 00:12:40.280 --> 00:12:43.360 To answer the question, when do you quit and start a business? 229 00:12:43.360 --> 00:12:45.440 It depends on who you are and where you're at in your life. 230 00:12:45.440 --> 00:12:49.480 There are lots of other steps you can do before that, like switch the company, switch the 231 00:12:49.480 --> 00:12:55.120 job, ask if you can do things that are making more valuable, start the side hustle first, 232 00:12:55.120 --> 00:12:57.960 then start making sure that it works if you like it before we're betting everything 233 00:12:57.960 --> 00:13:03.440 on it and then finally, if none of those things work for you then at that point I would 234 00:13:03.440 --> 00:13:08.920 say, okay, if you have reasonable means that you've saved up, you have a vehicle that 235 00:13:08.920 --> 00:13:13.200 you know is tested, other people who are doing that specific thing and you can do it 236 00:13:13.200 --> 00:13:16.920 then I would say by all means but I think that I made a lot of stupid decisions and candidly 237 00:13:16.920 --> 00:13:21.400 I think I got really lucky and so that is the long way to answer to this question which 238 00:13:21.400 --> 00:13:26.600 is when do you quit, start your own business, it depends on you, I can't give you a perfect 239 00:13:26.600 --> 00:13:29.840 answer because I don't know who you are but those are the frameworks that I'd be thinking 240 00:13:29.840 --> 00:13:35.120 of and these are the expectations that I would set in understanding the reason, like the 241 00:13:35.120 --> 00:13:38.840 average 25 year old, I heard from my neighbor, thinks that they're going to be, sorry, 242 00:13:38.840 --> 00:13:42.200 the average 18 year old senior in high school, when surveyed, believes that they will be 243 00:13:42.200 --> 00:13:47.720 a millionaire by age 25, how ridiculously unreasonable is that, that they believe, this 244 00:13:47.720 --> 00:13:52.760 is the average, right, believes that they're going to be in the top 1% within 7 years 245 00:13:52.760 --> 00:13:58.800 of graduating high school, well let's be real here, do we think that that is a reasonable 246 00:13:58.800 --> 00:14:04.280 expectation, no, so if you believe that, the stats are against you, doesn't mean I'm 247 00:14:04.280 --> 00:14:09.840 saying I don't believe in you, I believe in you 100%, I'm your biggest fan, but understand 248 00:14:09.840 --> 00:14:13.880 that these are the actual expectations of what this means, all right, I remember when 249 00:14:13.880 --> 00:14:19.120 I quit my job and I found out what the top gym owners were making and I remember literally 250 00:14:19.120 --> 00:14:24.560 my first thought was, that's it, and so you have to understand that there's the hula 251 00:14:24.560 --> 00:14:28.680 blue of revenue which I made in another video about measuring value, lots of people talk 252 00:14:28.680 --> 00:14:32.920 big numbers, not a lot of people make big numbers, most people are broke and the reason 253 00:14:32.920 --> 00:14:36.600 I have this channel is to make sure that you are not one of them, and so hope you enjoy 254 00:14:36.600 --> 00:14:38.920 this, click subscribe if you did, and I'll see you in the next video.