WEBVTT 1 00:00:00.000 --> 00:00:03.360 Business is not hard in that it is not complicated. 2 00:00:03.360 --> 00:00:07.520 It is hard because people cannot stay focused on the same thing for a long period of time. 3 00:00:07.520 --> 00:00:11.920 It's also because once people make a certain amount of money, if they only did it for the income, 4 00:00:11.920 --> 00:00:16.160 they're trying to find the next thing they're going to make a more income rather than the mission of the business. 5 00:00:17.160 --> 00:00:19.440 The wealthiest people in the world see business as a game. 6 00:00:19.440 --> 00:00:25.480 This podcast, the game, is my attempt at documenting the lessons I've learned on my way to building acquisition.com into a billion dollar portfolio. 7 00:00:25.480 --> 00:00:30.040 My hope is that you use the lessons to grow your business and maybe someday soon partner with us to get to a hundred million dollars from beyond. 8 00:00:30.040 --> 00:00:31.240 I hope you share and enjoy. 9 00:00:32.600 --> 00:00:36.040 Growing businesses is hard because it's different than people expected to be. 10 00:00:36.040 --> 00:00:42.440 And I continue to get more nuance and more detailed in my understanding of growing businesses, the more businesses I've grown. 11 00:00:42.440 --> 00:00:48.120 And the more I'm doing this, the singularity of focus is so important. 12 00:00:48.600 --> 00:00:52.680 My team knows that we get presented opportunities every single day that could distract us. 13 00:00:52.680 --> 00:00:55.400 And the thing is the bigger you get, the bigger the opportunities that get presented to you. 14 00:00:55.400 --> 00:00:57.240 So the harder it is to say no. 15 00:00:57.240 --> 00:01:02.200 And so I want to tell a quick story about the woman in the red dress that I'm going to relate to business. 16 00:01:02.200 --> 00:01:06.280 So in the Matrix, one of my favorite movies, there's the woman in the red dress. 17 00:01:06.280 --> 00:01:11.800 And so it's one of the training programs that Morpheus takes Neo on, the main character, to teach him one simple lesson. 18 00:01:11.800 --> 00:01:16.040 And so they're walking through a crowd, it's normal, New York, lots of people, everyone looks different. 19 00:01:16.120 --> 00:01:21.160 And then there's this woman in this red dress walking towards, and she's like, stands out from the crowd. 20 00:01:21.160 --> 00:01:25.960 And Neo's head turns, and Morpheus is still talking to him, trying to teach him a lesson. 21 00:01:25.960 --> 00:01:28.120 Right? And then he looks back at Morpheus, he's like, were you listening? 22 00:01:28.120 --> 00:01:30.520 He was like, what? He's like, were you looking at the one in the red dress? 23 00:01:30.520 --> 00:01:31.480 And he says, look again. 24 00:01:31.480 --> 00:01:34.920 He looks back at the woman, and it's Agent Smith pointing a gun to his head. 25 00:01:34.920 --> 00:01:41.880 And the thing is, is I see distractions and new opportunities shining object as the woman in the red dress. 26 00:01:41.880 --> 00:01:45.720 And at every level of business, the woman in the red dress becomes more and more attractive. 27 00:01:45.880 --> 00:01:49.400 Right? Because at first you have to say no to a thousand opportunities, then 10,000, then a hundred thousand. 28 00:01:49.400 --> 00:01:52.200 And you have to learn how to see no again at every level. 29 00:01:52.200 --> 00:01:56.120 Because I thought the ones I learned how to see no to the one in the red dress, I'd be done forever. 30 00:01:56.120 --> 00:02:00.760 But that's not true. She comes back hotter, you know, whatever, whatever ways you want to like, 31 00:02:00.760 --> 00:02:06.040 with makeup and who now your plastic surgery, you know, and every level she just gets hotter and hotter and hotter. 32 00:02:06.680 --> 00:02:08.760 Because you get better and better and better. 33 00:02:08.760 --> 00:02:11.640 And so the quality of the red woman in the red dress that you can attract is higher, 34 00:02:12.360 --> 00:02:13.800 the higher up in the game you go. 35 00:02:13.800 --> 00:02:18.040 And so when I look at the businesses that we have, I used to think that like, 36 00:02:18.040 --> 00:02:21.800 innovation was everything. And I think innovation is important to very, very small degree. 37 00:02:22.520 --> 00:02:25.640 But the vast majority of the business success is actually doing all the stuff that you know you 38 00:02:25.640 --> 00:02:30.680 should be doing, but you aren't. So a friend of mine has a wife who's really popular. 39 00:02:30.680 --> 00:02:35.000 He runs all their businesses and they have literally 60 businesses. He has an excel sheet to keep track 40 00:02:35.000 --> 00:02:39.000 of all the businesses he has. And I think they make about total between everything, 41 00:02:39.720 --> 00:02:43.880 maybe eight figures a year, maybe in that might. And to some of you were like, oh, that's amazing, 42 00:02:43.880 --> 00:02:47.960 but hear me out. So we're having this long conversation. And I just said, you know, 43 00:02:48.520 --> 00:02:52.360 if there were a magic wand and you could snap your fingers and eliminate all businesses, 44 00:02:52.360 --> 00:02:56.200 but one, how easy do you think you'd be to grow that business? He was like, oh my god, 45 00:02:56.200 --> 00:03:00.360 it'd be so easy to grow that to like 30 or 50 million. I was like, then why don't you do that? 46 00:03:00.360 --> 00:03:05.800 And he said that that question has messed with him for an entire year. And he has since that 47 00:03:05.800 --> 00:03:10.200 conversation shut down business after business after business after business so that he could 48 00:03:10.200 --> 00:03:13.880 focus on the one that he thought was the biggest opportunity because Mark Zuckerberg didn't have 49 00:03:13.880 --> 00:03:18.120 side hustles, right? If you do one thing and you do it right and you do it all the way, 50 00:03:18.120 --> 00:03:21.320 you can get as big as you want. You can have a long, long, long business that cover the entire 51 00:03:21.320 --> 00:03:26.280 United States. You could do that. You could have a cosmetics business that covers the entire 52 00:03:26.280 --> 00:03:31.240 United States. You could have whatever type of business you want that covers everyone. You could 53 00:03:31.240 --> 00:03:34.760 do it if you waited for long enough for your time and didn't get distracted. It's one of my 54 00:03:34.760 --> 00:03:38.760 favorite quotes is by Neil Strauss. He said success comes down to doing the obvious thing for an 55 00:03:38.760 --> 00:03:41.880 uncommonly long period of time without convincing yourself you're smarter than you are. 56 00:03:42.520 --> 00:03:47.480 And it's one of my favorite quotes about business because it's the details that pay the dividends. 57 00:03:48.360 --> 00:03:55.080 It's the depth and the nuance of understanding how to do something. And so for example right now, 58 00:03:55.080 --> 00:03:59.960 like there's obviously lots of opportunities that we have. But the thing is that I still don't 59 00:03:59.960 --> 00:04:04.760 feel like we're doing the basics, right? Like if we're not on every platform, 60 00:04:05.720 --> 00:04:10.040 why are we thinking about starting a new business? If we're not hardcore email marketing 61 00:04:10.040 --> 00:04:14.200 regularly and providing value, why are we going to start another business? If we're not even 62 00:04:14.200 --> 00:04:18.600 building the SEO out on our site, why are we doing something else? If we haven't completely built 63 00:04:18.600 --> 00:04:23.160 out the sales training for our sales team to keep their execution high, why are we thinking about 64 00:04:23.160 --> 00:04:27.080 doing other other things? And so so many entrepreneurs that I see who are talking about how they want 65 00:04:27.080 --> 00:04:32.120 to grow their business and do this next new thing or this exciting add-on aren't even doing the 66 00:04:32.120 --> 00:04:38.520 basics. And the thing, and I've said this before, but being advanced means that you never don't do 67 00:04:38.520 --> 00:04:42.440 the basics. And if you're like, well, Alex, that's going to take so much time for me to do each of 68 00:04:42.440 --> 00:04:47.480 those things. Welcome to building a big business because big businesses do the same things little 69 00:04:47.480 --> 00:04:52.280 businesses do, but they do them better and they fill the holes in the bucket. And so if you were to 70 00:04:52.280 --> 00:04:57.480 think about a business as a bucket and you've got water pouring in the top, which is the traffic 71 00:04:57.480 --> 00:05:02.360 or the eyeballs or whatever, and then the bucket is what you're keeping, right? So the first thing that 72 00:05:02.360 --> 00:05:06.760 you're going to do, right? If you want to grow the amount of water you have in the bucket is you 73 00:05:06.760 --> 00:05:11.080 don't have multiple buckets, right? What you're going to do is probably fix the holes in the bucket you 74 00:05:11.080 --> 00:05:17.400 got, right? Number one, fix the bucket. Number two, once you fix the bucket, increase the flow to 75 00:05:17.480 --> 00:05:22.440 the bucket. Once you've done that and you've completely maximized that, then you add new flows. 76 00:05:23.240 --> 00:05:27.480 But most people have never done that. And so the moniker that I remember about this is better, 77 00:05:28.280 --> 00:05:34.360 more new. And so whenever I'm thinking about our business or our businesses in the portfolio, 78 00:05:34.360 --> 00:05:41.240 I think have we maxed out better yet? If we have not maxed better yet, there's no point in incurring 79 00:05:41.240 --> 00:05:45.560 the risk of more or new because more is riskier than better. Better is the lowest risk opportunity 80 00:05:45.560 --> 00:05:49.000 that everyone has. Do what you're currently doing, do it better, right? Follow it faster, 81 00:05:49.000 --> 00:05:54.920 follow up more, make better copy, make better creative, optimize your site, hire better people, 82 00:05:54.920 --> 00:05:58.760 train them better, have better management systems, better incentive systems. But Alex, 83 00:05:58.760 --> 00:06:05.880 that sounds so boring. Welcome to growing big shit. How you do it? You literally feel all the holes 84 00:06:05.880 --> 00:06:10.600 in the bucket that you know you should be doing but aren't. And so right now, hear me out. If you 85 00:06:10.600 --> 00:06:15.960 were to make a list of the top 25 things that you could do in your business that you are not doing, 86 00:06:16.520 --> 00:06:20.600 right? The obvious things that you know would make you more money. If I emailed more out of 87 00:06:20.600 --> 00:06:23.560 being more, if I did more research out of being more money, if I, if I made more content, 88 00:06:23.560 --> 00:06:26.840 I make more money, right? If I trained my sales team more, if I did more call reviews, 89 00:06:26.840 --> 00:06:31.560 I make more money. If I reorganized our customer onboarding process, if I created a better cadence 90 00:06:31.560 --> 00:06:35.320 or training for our customer support team or customer success team, we'd make more money. Put 91 00:06:35.320 --> 00:06:38.440 out every single one of the obvious bullets that you have that you know will grow your business. 92 00:06:39.080 --> 00:06:44.440 Instead of doing the new thing, do those first. And once you finish that list, 93 00:06:44.440 --> 00:06:48.280 what you will see happen. And this is why it's spiritually difficult as an entrepreneur, 94 00:06:48.280 --> 00:06:51.400 because we like to do new shit. It's why we started the business to begin with. We stopped 95 00:06:51.400 --> 00:06:55.400 doing the old thing. We started the new thing and we got reinforced in that behavior. And so we 96 00:06:55.400 --> 00:07:00.760 learned the wrong lesson. We learned that when we start new things, good things happen. And so we 97 00:07:00.760 --> 00:07:05.080 think we should start new things. But this is where it's difficult and we have to learn at each 98 00:07:05.080 --> 00:07:09.800 level is that you started the new thing and you got rewarded. But now if you start another thing, 99 00:07:09.800 --> 00:07:15.080 you will get punished. And some people never unlearn that first lesson. And so you have to switch 100 00:07:15.080 --> 00:07:19.160 from new to better. Because the innovation already happened when you got the product market fit. 101 00:07:19.160 --> 00:07:22.760 As soon as people started buying the thing you're selling, that's when the new needs to end. 102 00:07:23.400 --> 00:07:28.600 For a while, because now you just need to do better and more. So you fill the holes in the bucket 103 00:07:28.600 --> 00:07:33.400 with all the better and then you do more. Then you go from one piece of content a day to five pieces 104 00:07:33.400 --> 00:07:39.080 of content a day. From one sales guy to five sales guys. From one video editor to five video 105 00:07:39.080 --> 00:07:43.880 editors. From one, I mean, I can keep going with this. You get the idea. It's about doing more 106 00:07:43.880 --> 00:07:50.120 once you fix the first one and make it better. Hey guys, real quick. If you're new to the podcast, 107 00:07:50.120 --> 00:07:55.240 I have a book on Amazon called 100 million dollar offers that over 8,000 five star reviews 108 00:07:55.240 --> 00:07:59.160 and it has almost a perfect score. You can get it for 99 cents on Kindle. The reason I bring it up 109 00:07:59.160 --> 00:08:03.160 is that I put over a thousand hours into writing that book and it's my biggest gift for our 110 00:08:03.160 --> 00:08:08.280 community. So it's my very shameless way of trying to get you to like me more and ultimately make 111 00:08:08.280 --> 00:08:12.520 more dollars to that later on in your business career. I can finish the part with you. So that's my 112 00:08:12.520 --> 00:08:20.040 gift. Go check it out. Amazon and back to the show. Businesses will grow by default and they will 113 00:08:20.040 --> 00:08:24.680 beat their competition if they do everything their competition does, but better. Because what happens 114 00:08:24.760 --> 00:08:29.400 is most entrepreneurs will divert resources from their core thing. So think about the two paths. 115 00:08:29.400 --> 00:08:33.720 You've got boring entrepreneur number one who finally finds product market people like the stuff 116 00:08:33.720 --> 00:08:37.400 that they're selling. And then they say, I'm not going to do anything new for the next five years. 117 00:08:37.400 --> 00:08:41.960 All I'm going to do is do this better and do more of it. So I'm going to do. And then you think 118 00:08:41.960 --> 00:08:46.680 about the other guy who says, Oh, we got some product market fantastic. Now I'm going to sell 119 00:08:46.680 --> 00:08:50.440 something else and I get to get my rocks off, get my jollies off over here, thinking about all this 120 00:08:50.440 --> 00:08:54.040 new stuff, all this new marketing, all this new product. Well, the other business starts to wither 121 00:08:54.040 --> 00:08:57.800 away a little bit because atrophy starts happening because the things that were there when you're 122 00:08:57.800 --> 00:09:03.640 overseeing it aren't happening anymore anyways. And not only that, it's never improving. And cost 123 00:09:03.640 --> 00:09:07.080 of media goes up, cost of talent goes up and the business is literally getting worse relative 124 00:09:07.080 --> 00:09:11.160 to the market over time if you're not improving it. And so you got these two entrepreneurs and this 125 00:09:11.160 --> 00:09:15.320 guy is diverting resources that would have been allocated back to the same bucket to fill the holes. 126 00:09:15.320 --> 00:09:18.920 As instead taking some of that and trying to build another bucket over here, trying to build 127 00:09:18.920 --> 00:09:23.560 another bucket over here. And meanwhile, the holes are getting bigger in the first bucket because 128 00:09:23.560 --> 00:09:27.240 it's getting worse and worse and worse. And so then they find themselves with five buckets 129 00:09:27.240 --> 00:09:32.360 that are all tons of holes in them. They don't have the bandwidth to actually go to the one bucket 130 00:09:32.360 --> 00:09:36.280 and fix it. And that's when I asked the magic one question. So right now if you have multiple things 131 00:09:36.280 --> 00:09:41.880 going on, how easy would it be to grow your business if I could wave a magic wand, snap my fingers 132 00:09:41.880 --> 00:09:47.960 and everything ended except for one. Pretty easy, right? So why not stack the chips in your favor? 133 00:09:47.960 --> 00:09:53.640 The thing that makes it hard is the discipline you have to have, not the concept, right? And so 134 00:09:53.640 --> 00:09:59.960 one of the things I like saying is that strategy is easy, execution is hard, right? It's the execution 135 00:09:59.960 --> 00:10:05.720 risk that is the much bigger risk for most businesses. Like conceptually, if you deliver dry cleaning 136 00:10:05.720 --> 00:10:11.240 that is always clean, always, right? And always on time, you'll have an exceptional business. 137 00:10:11.240 --> 00:10:16.680 Like think about that from like the strategy isn't complicated. It's the execution is where 138 00:10:16.680 --> 00:10:20.600 everyone fails. But this is the thing is that the strategy is the new and exciting thing. 139 00:10:21.480 --> 00:10:27.400 And so people allocate tons of attention, tons of time to new strategies, new ideas, new everything 140 00:10:27.400 --> 00:10:33.560 rather than making the obvious truth of if I deliver everyone they're closed on time and they 141 00:10:33.560 --> 00:10:38.440 are always perfectly clean, this business will work. And so one of the things that we do when we're 142 00:10:38.440 --> 00:10:42.200 growing the business after understanding better, more new when we think about anything that we're 143 00:10:42.200 --> 00:10:46.680 growing is what do the need to believe? What do we need to believe for this to grow? We need to 144 00:10:46.680 --> 00:10:51.240 believe that people will always want things fast. Do is that something I want to bet on? Yes. 145 00:10:52.040 --> 00:10:57.160 People always want a good product so that we clean their clothes perfectly every time. Well, 146 00:10:57.160 --> 00:10:59.800 do I believe that that's something that people will want in the future as much as they want to 147 00:10:59.800 --> 00:11:04.040 date or more? Yes. People will always want good service. Do I believe that that's when people 148 00:11:04.040 --> 00:11:07.880 are on the future or in the day? Yes. And so one of the beautiful things is that we enter 149 00:11:07.960 --> 00:11:12.200 remarkably, something is boring is dry cleaner, boring is lawn care, boring is whatever, is that 150 00:11:12.200 --> 00:11:14.840 oftentimes you're actually not competing. It's the smartest people in the world because smartest 151 00:11:14.840 --> 00:11:18.680 people in the world are on Silicon Valley. I'll try to make the next platform. But there's tons of 152 00:11:18.680 --> 00:11:24.520 other businesses that you can absolutely demolish who are making lots of money just by doing the 153 00:11:24.520 --> 00:11:29.880 basics well. And what makes them basics is how hard they are to understand. But what makes you 154 00:11:29.880 --> 00:11:35.400 advance is how well you execute them. That's the thing. Like it's not hard to conceptualize that you 155 00:11:35.400 --> 00:11:39.320 take 10 guys and each guy makes 200 calls a day. It's 2000 calls a day. It's not hard to conceptualize 156 00:11:39.320 --> 00:11:44.200 that. But it's how well did you train them? How well did you recruit them? What is their incentive 157 00:11:44.200 --> 00:11:48.200 structure? Do you listen to calls on a regular basis? Is there a leader board? Because you're thinking 158 00:11:48.200 --> 00:11:51.240 yourself when you have that big list of, ah, we need to do competition for the sales thing. Ah, 159 00:11:51.240 --> 00:11:54.920 I need to get that leader board set up. Oh, yeah, I need to be doing more call reviews. That is 160 00:11:54.920 --> 00:12:00.280 the stuff that grows the business. It's not the big idea. As long as the need to believe makes 161 00:12:00.280 --> 00:12:05.080 sense, then the foundational tenants of the business and unless you're in high tech and you're 162 00:12:05.080 --> 00:12:09.000 trying to create something that the market doesn't know at once yet, which is basically what big tech 163 00:12:09.000 --> 00:12:14.040 bets are, is that you're creating something that the market doesn't even know at once, right? But 164 00:12:14.040 --> 00:12:17.560 I'm telling you, I've never made money in that. I've made money going to things that I know the 165 00:12:17.560 --> 00:12:22.760 market wants and doing it better. People always want leads. Promise you. You know how to get leads? 166 00:12:22.760 --> 00:12:26.440 You know how to get it better? You will make tons of money. People always need a place to live. You 167 00:12:26.440 --> 00:12:30.440 have better buildings that are cleaner and things run right and you treat your residents well, 168 00:12:30.440 --> 00:12:36.680 you will have successful buildings. If you have lawn care where everyone communicates well and is, 169 00:12:36.680 --> 00:12:42.200 you know, cost effective and the grass always looks great and the hedges are clean lines and you do 170 00:12:42.200 --> 00:12:47.240 it at the cadence that's perfect for most people, you will have a good business. And the thing is, 171 00:12:47.240 --> 00:12:50.600 you might be competing as people who don't even think that way. And so you can absolutely take 172 00:12:50.760 --> 00:12:56.440 their lunch money. But you have to not get fancy, right? And so I'll end with a little story that 173 00:12:56.440 --> 00:13:00.680 was a huge meaningful story to me. So when I was going through the sale process for two of our 174 00:13:00.680 --> 00:13:07.080 companies, the bankers introduced me to a couple of other CEOs that they had done deals with because 175 00:13:07.080 --> 00:13:10.520 I was like, I wanted to know what it was like afterwards, things like that. I thought we can 176 00:13:10.520 --> 00:13:14.760 just connect with these guys. So I talked to one of them and the conversation changed my life. 177 00:13:14.760 --> 00:13:18.920 I was telling about what, you know, the dreams I wanted to do and all the stuff, etc. And he was 178 00:13:18.920 --> 00:13:23.640 a mercenary CEO. So he was a third time CEO that private equity buyer company placed him in, 179 00:13:23.640 --> 00:13:26.920 he'd grow it, and then they'd sell it. And he had done that three times already. So super 180 00:13:26.920 --> 00:13:31.160 seasoned guy. He was a long island guy, really thick accent. And he's like, you know, back out 181 00:13:31.160 --> 00:13:35.960 football. I was like, yeah, it's like, everybody wants the super fancy trick plays. You know, it's like, 182 00:13:35.960 --> 00:13:40.680 okay, hike and then I, you know, fix to the left and then we go right and then it's actually going 183 00:13:40.680 --> 00:13:45.720 to be a reverse, you know, whatever. And then we toss it and then what do you know happens? He catches 184 00:13:45.720 --> 00:13:50.360 it and then fumbles it and the other team takes it down for touchdown. He's like, no, we're doing 185 00:13:50.360 --> 00:13:56.200 simple backyard football. He's like, too fat guys in the middle run to the right. Consistent 186 00:13:56.200 --> 00:14:01.800 in the audience. He's like, don't be cute. And he said that. And it really changed the way I saw 187 00:14:01.800 --> 00:14:07.240 a business. He's like, you don't need to have any fancy play to be successful. You just have to 188 00:14:07.240 --> 00:14:11.800 be willing to get the consistent yardage. And when you do consistent yardage on a thesis that 189 00:14:11.800 --> 00:14:17.160 makes sense. People want clean clothes. People want them fast. People want good service. And if 190 00:14:17.160 --> 00:14:24.040 you execute on that for 10 years and you fill every hole in the bucket, your business grows by 191 00:14:24.040 --> 00:14:30.200 default because your competitors won't do that. Business is not hard in that it is not complicated. 192 00:14:30.200 --> 00:14:34.440 It is hard because people cannot stay focused on the same thing for a long period of time. 193 00:14:34.440 --> 00:14:38.760 It's also because once people make a certain amount of money, if they only did it for the income, 194 00:14:38.760 --> 00:14:41.640 they're trying to find the next thing they're going to make a more income rather than the 195 00:14:41.640 --> 00:14:45.640 mission of the business. Because if you believe in the mission of the business, you will be willing 196 00:14:45.640 --> 00:14:49.080 to do it for an extraordinary long period of time. And I can tell you right now from all the friends 197 00:14:49.080 --> 00:14:53.800 that I have that make shit loads of money, they've all been doing the same thing for a long period of 198 00:14:53.800 --> 00:14:58.520 time. So as much as the world wants to tell you, you should have 17 majors in college and you should 199 00:14:58.520 --> 00:15:02.920 taste everything. And I think there's value to that. It will not fight against the reality that 200 00:15:03.000 --> 00:15:09.160 Ben Francis started Gymshark when he was whatever, 17 and now he's 28 or 29, he's got a billion 201 00:15:09.160 --> 00:15:15.000 dollar thing. So could he have tasted more stuff? Sure, he'd tasted from like 14 to 17, right? But 202 00:15:15.000 --> 00:15:18.920 then when he started that, he's been doing it for 10 or 11 years now and now he's a billion dollar 203 00:15:18.920 --> 00:15:24.120 thing. And so the work needs doing and you just need to decide when you want to start the compound 204 00:15:24.120 --> 00:15:28.920 and clock in your favor, which means how long can I commit to this thing? And so I would say once 205 00:15:28.920 --> 00:15:32.840 you've had a little bit of your entrepreneurial licks as fast as you can to learn those lessons, 206 00:15:32.840 --> 00:15:37.400 you have to think what need to believe is there that I do not think will change over an extended 207 00:15:37.400 --> 00:15:43.240 time horizon and then serve that. And then every day all you do is you look at how to do better 208 00:15:43.240 --> 00:15:47.960 and how to do more of it, how to do it better, how to do more of it. And it's going to kill you inside 209 00:15:47.960 --> 00:15:51.640 because you like doing new shit. And that's what was positive when you're enforced your entire 210 00:15:51.640 --> 00:15:55.640 life as an entrepreneur in the beginning. And then you have to unlearn that lesson because that's 211 00:15:55.640 --> 00:15:58.760 what it takes to get big is you do the same thing and you just do it that much better than everyone 212 00:15:58.760 --> 00:16:05.400 else. And that takes time. And that's why big businesses take time. It is arrogant to believe 213 00:16:05.400 --> 00:16:11.080 that you were going to outcompete other people who were fully focused on one thing when you were 214 00:16:11.080 --> 00:16:15.320 split on five. And the thing is plenty of people arrogant. So many of you will still do this, 215 00:16:15.320 --> 00:16:19.880 but you'll also still be poor. So whatever. Some dude is he's got a long care business and all he 216 00:16:19.880 --> 00:16:24.520 does is longer. All day, every day, it's all he does is moulons and built this business because he 217 00:16:24.520 --> 00:16:27.560 want he believes that everybody deserves an amazing long because he's got a story of when he's a 218 00:16:27.560 --> 00:16:30.520 kid and that was the only thing that his parents could do was cut the lawn to even though they 219 00:16:30.520 --> 00:16:33.320 were poor, it was like something that gave them status in neighborhood. And he can remember his 220 00:16:33.320 --> 00:16:36.520 dad crying because you could somebody give him a compliment on and he hadn't gotten a compliment forever. 221 00:16:36.520 --> 00:16:41.640 Whatever that reason is, he's driven to make that company, right? And he got the other guy who's 222 00:16:41.640 --> 00:16:46.040 like, Oh, yeah, I'm doing dropshipping and I'm doing some long care stuff and I'm doing some 223 00:16:46.040 --> 00:16:50.520 consulting gigs on the side for marketing. And I'm, you know, I'm doing, you know, NFTs, whatever, 224 00:16:50.520 --> 00:16:57.160 right? And he's got all these things going on. Who is going to win at long care? It's obvious. 225 00:16:57.960 --> 00:17:04.520 And yet we still live like this other guy. And so my hope is that you recognize that if that's you, 226 00:17:04.520 --> 00:17:08.840 stop. And I'm only saying this from place of luck because I had nine businesses before Jim 227 00:17:08.840 --> 00:17:13.400 launched took off. And before you think, Oh, well, what I'm going to do because I hear this all 228 00:17:13.400 --> 00:17:18.360 the time, I'm going to do them all and see which one takes off. None of them will take off because 229 00:17:18.360 --> 00:17:22.680 any of them could take off. If you just focus on one of them, it's conflating sequence. 230 00:17:23.320 --> 00:17:29.720 It's saying, I think that because what it is is it's thinking that the outside market is somehow 231 00:17:29.720 --> 00:17:34.440 going to make you successful. Like you're going to pick the right bet, right? When you can force 232 00:17:34.440 --> 00:17:39.160 any of them to be successful, right? Providing not selling newspapers, right? Like as long as you have 233 00:17:39.160 --> 00:17:43.400 something that's not obviously a stupid idea, right? And you have normal businesses that you're 234 00:17:43.400 --> 00:17:47.480 trying to build and acquaintance of my from high school, we haven't like stayed in touch, but you 235 00:17:47.560 --> 00:17:50.520 saw the stuff that we, you know, the success we had and he said, Hey, can we talk sometime? So I 236 00:17:50.520 --> 00:17:53.960 got on the phone with them and he said, Hey, I've got a roofing business. You know, it's awesome. 237 00:17:53.960 --> 00:17:58.440 I said, Oh, that's great. And he said, Oh, yeah, we also do real estate flipping. And I was like, 238 00:17:59.160 --> 00:18:03.560 all right, he's like, Oh, and we also do general contracting. And I was like, okay, he's like, 239 00:18:03.560 --> 00:18:06.760 oh, we do window stuff too. That's actually class and windows. We do that stuff too. Because it's like, 240 00:18:06.760 --> 00:18:11.080 you want to be vertically integrated for real estate. I was like, did you do like four million bucks a year? 241 00:18:11.080 --> 00:18:13.880 Like, you're not vertically integrated. You're just distracted. 242 00:18:14.840 --> 00:18:18.680 Right. It's like, if you look at the biggest roofing companies in the world, they're billion dollar 243 00:18:18.680 --> 00:18:24.520 companies, billion multi billion dollar companies. The richest woman in the US is built off of roofing 244 00:18:24.520 --> 00:18:31.880 business. So like, you can do one thing to scale and make all the money you want and you will only 245 00:18:31.880 --> 00:18:37.560 get there with the scale from the details from the depth, right? That's how you get these compounding 246 00:18:37.560 --> 00:18:39.720 returns from doing the same thing over and over again because you get better, better, better, 247 00:18:40.200 --> 00:18:44.040 right? Whereas the other guy who's got four things, he's never going to get good at any of them. 248 00:18:44.040 --> 00:18:47.320 He's just going to be barely good enough and he's going to make barely good enough money, 249 00:18:47.960 --> 00:18:51.160 right? And so if you're not making money in any of the things, it's because you don't understand 250 00:18:51.160 --> 00:18:55.000 any of them all enough because if you can see anybody in your industry who's doing the thing that 251 00:18:55.000 --> 00:18:58.440 you're doing and making 100 times more money than you, it's because they know it better than you. 252 00:18:58.440 --> 00:19:01.800 So how quickly you're going to pay down the ignorance. You're going to try and divide it by four. 253 00:19:01.800 --> 00:19:04.760 You're going to try and pay down the ignorance that of one of them as fast as you can so you can start 254 00:19:04.760 --> 00:19:15.080 out the compounding. It's that's one of the big mistakes.