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People are making podcasts and thinking in 90 days they're somehow going to blow up.

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In the beginning, 150 episodes is just me talking about how to run a gym better.

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I got a DM the other day, somebody who was like, yeah, it's easy for you to build this brand because

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you already have this big audience. I was like, dude, just start. He was discouraged by the fact that

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he had no falling, he had no audience, etc. 99% of people were watching this. Do more push it,

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and then you'll have push it to talk about, rather than regurgitating other people's stuff.

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But for everyone who sees the overnight success, right? What I want you to do is go to my podcast

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and look at the timestamp in my first episode. This 2017 5.5, 6 years ago, it just now hit the top 10.

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And in that six-year period, I did not miss every week one to three podcasts for six years.

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And so people are making podcasts and thinking in 90 days they're somehow going to blow up.

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When the reality is that you're finding your voice for the first year, you're figuring out what

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way you communicate, you're learning how to teach, how to entertain, how to present,

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you're learning how to speak, and you're also learning about the stuff that you're learning

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meantime, right? Like in that period of time, I might not have had as much stuff that was as cool

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in the beginning that applied to as many people because the first 150 episodes is just me talking

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about how to run a gym better. Right around 150, I start talking about marketing in general because

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that's what I was into at the time. And then I start talking about sales and I start talking about

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business in general and M&A and things that as they evolved over time. And so the subject matter

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as well as my skill in delivering it both improved over that period of time. And now the podcast is

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top 10 on entrepreneurship and very high ranked in business. Next to names that I looked up to

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my whole career, I'm my holy cow, I'm like, where? Wait, we just went about this guy that I've been

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looking up to my whole life. It doesn't take 90 days. It takes years. If you think in days,

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the time's going to pass no matter what. But if you can think in decades, when you make your goals,

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when that decade does pass, it'll show that you were thinking that way. Right? Not the outcome of

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the goal, make the action the goal. If the action is, did I make the post, did I make the reachouts

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every day, then you're a success. You check both boxes. I want to tell you a quick story. So there was

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a guy who started at the first gym with me, same day. All right. And we've been friends since that.

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And I started my gym and then he started his gym and he started changing gym so we went in parallel.

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All right. And he ended up selling those gyms and he wanted to go online. He was like, dude,

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I need to build like a brand. And I was like, dude, you just need to start posting, you know,

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short form stuff, making stuff that's valuable. He posted every day for six months. And then one

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video took off. And then the next video took off and the next video took off. And then I'm all

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all of a sudden now. He's making $100,000 a month from the content that he was making. He'd already

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been doing business for nine years. And then all of a sudden, it took off. And you, any message

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from you is like, I'm super grateful that you told me to do that. And so he did the post and he

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did the reach outs. And what ended up happening is that earlier on, he would, he would have videos that

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would start taking off. He would start doing reach outs. He started making sales and then he'd make

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some money and then he would slow down. And then all of a sudden, you get in scarcity mode once he

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was like, Oh, shoot, there's no money coming in. There's no money coming in. And then you start

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making content with start doing reach outs again and then you make money again. And he was like, dude,

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how do I break the cycle? And what we did was we shifted what he was focusing on because he was

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focusing on the sales you was making, focusing on the money you was making rather than focusing on

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the process. You are not successful in my eyes because whenever you see some outcome, you stop the

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activities, which means you don't have the trait of consistency. I was like, the reason you aren't

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where you want to be is because you can't do things repeatedly. And so most people can't do one

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thing over and over again. You need to be able to do the doing without seeing the result of your doing.

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And you have to keep doing it. And if you can keep doing things independent. And this is both ways.

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If it goes really well, you keep doing the thing that got you there. And if it's not going well,

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comma, yet, you keep doing the thing so that you get good enough that one day it will. And that's

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the shift that most people don't make. And I think that's why most people just stay for. And the

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reality is that if you can commit to the actions and the behaviors and the traits that you will grow

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through doing, then at the end of this process, a deculator, you will be the type of person who can

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do something for a long period of time and weight. And I promise you that if you have that trait,

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money will never be a constraint in your life. And this is from atomic habits. Every winner and

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every loser have the same goals. So when you measure yourself by having this external thing and

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prove like set goals, everyone wants to be rich. Everyone wants to have a six pack. Your goals don't

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make you unique. It's the activities that you do that make you unique. The goal of the winner

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is to commit to the activities. The goal of the loser is to commit to the goal. 52% of 18

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year olds, high school seniors think they're going to be millionaires by 25. The world is going to be

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shook. Many of you will fail. And that's because most of you have the same fault. 50% of you think

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you're going to be a millionaire, right? It's just mad. But only a small percentage will because

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if you want to be a millionaire, you're not going to focus on making a million dollars. You're

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going to focus on the stuff that makes money dollars. And so when you can divorce the activities

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from the outcome, then you can focus on the doing, which whether your income does this over that

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period of time, your self-esteem remains the same because you're committing to what you can control.

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If you can make that shift, it will change your life. So I started making podcasts six

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years ago. I committed to that process. When I signed on with a YouTube vendor a few years ago,

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on the first call, I said, I'd like to have this channel be something in five to ten years.

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I was like, we'll look at it then and see if it was worth continuing to do. I was like, but I'm in

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for a decade. And he stopped me afterwards. He was like, I've literally never had a client say

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that to me ever. He's like, they're all like, how can I get leads in the first 90 days from YouTube

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and like, blah, blah, blah. I was like, if we're making progress, I'm good. I will commit to that.

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I think that if you can think that way, you will get what you want. And then people will ask you a

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decade from now, man, how did you have this overnight success in blah, blah, blah, blah, and aren't

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you like, don't the followers and the fans like, how does it not get to your head? And you're like,

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because it was never the goal. And so I feel just as good at year one as I do at year eight,

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because the activities that I committed to remain the same, if you can think that way and you can

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shift your perspective, it will, it'll decrease your emotional ups and downs. And I think we all

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need ways to decrease our emotional ups and downs in the game of business because like, we need to

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have second lives, the third lives and the fourth lives. And the way to do that is to not put your life,

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your game playing life in something that you can't control, but putting all your game playing life

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in the things you can. Right now, we just crossed our 400th episode, 400 episodes. Like, if I did

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one a week, that's 52, 48, one a week for a year, that'd be eight years of doing that. If I had 400

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episodes, I'm at like year six. If you make 400 long form pieces of content, I guarantee you

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that your following will be bigger than it is today. Well, how long is that going to take?

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As long as it takes, because the goal was never the outcome. The goal was to do it.

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Bernardo Noe became the richest man in the world. And what's crazy is, he only sells to one

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percent of the population. You may not have heard of Bernardo Noe, but I guarantee you've heard of his

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companies. Louis Vuitton, Kristen Dior, Celine, Sephora, DKNY, Bulgaria, Juvenget, Tiffany, Hennessy,

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Mark Jacob. While the tech billionaires and everyone's network have plummeted, Elon Musk lost

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$200 billion dollars. Basso's lost 70. He only lost seven. His business model is Recession

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Group, the man who's selling $10,000. There are some lessons that we can learn from the richest

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man in the world. So the first thing we have to understand is the psychology of the rich versus

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the psychology of the poor. The first encounter I had with like super well, I remember I was working

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at Smoothie King. I was a blender tender. One of my buddies, he's in the back with his feet up, he's

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flipping through magazines like, dude, check this out. This guy bought a $50,000 burger. Man, that's

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crazy. Who had spent $50,000 on a burger? I thought about it more and more. If I go and get lunch,

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it cost me 12 bucks for the burger, the fries, and the coke, whatever. He had said it was some

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finance guy who had made like $100 million dollars that year. If he made $100 million dollars,

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and he worked 2000 hours, he made $50,000 an hour. I was making $7 an hour, and my burger cost me

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12 bucks. His $50,000 burger was cheaper for him for his amount of money that he was making than

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my $12 lunch was for me. That was a huge shift for me where I realized I'm playing this game wrong

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and I'm not empathizing with the rich because she's got to be thinking differently than I am to be

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able to afford a $50,000 burger. It also kind of makes sense for him. The second is how we create

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products that specifically serve rich people. They think differently than want different things.

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The best thing to do is study luxury brands. When you shop at a high end store,

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they'll offer you champagne while you shop. You're going to have somebody who's assigned to you

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moment you walk in the door. What can I get for you? They can have and deliver that better

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experience because of the premium and luxury prices they charge. If you've ever been to a luxury

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mall and you see a purse for $10,000, you see a jacket for $50,000 and I would urge you to not say

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those people are ridiculous. I can't believe someone would spend money on that. What I want you

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to do is actually empathize with the buyer. What kind of person would spend $50,000 on a jacket?

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If I can pick from all jackets and I have so much money that the difference between a $100

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jacket and a $50,000 jacket in relative terms is a $10 difference to me in my wealth,

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then I just want the best jacket. Bernard or no capitalized on this. So there's four distinct

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positions you can have in any marketplace. You can have bargain, which is the absolute cheapest one.

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Poor quality, poor experience. The next is best value. This is the difference between a Walmart

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and a target. Target is better value. It's got brighter lights. It's cleaner. It's the best value

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for the buck. The third position the marketplace is premium. The high end Lexus, the BMW,

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and then the fourth position the marketplace is luxury, where the price has no cap. Part of the value

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of the product itself is the cost that people know you paid to get it. Bernard or no lives in this

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luxury bubble. It's where people associate their status with the purchase they made. Typically,

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when you raise prices, you decrease volume. But in luxury goods, when you raise prices, you increase

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how many you sell. And that creates this unbelievable amount of profit, which is what has now

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propelled him to be the single richest man in the world. Rich people have the same problems that

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poor people do. They just want them solved differently. The big thing we want is we want to deliver

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a big dream outcome. Number two, we want them to believe with very high confidence that if they

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work with us, they're going to get what we promised. On the bottom side, they want it to be

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incredibly fast. So as soon as they pay, they want to get. And then they want to have as little

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effort and sacrifice is extremely possible. And with the rich speed and convenience are paramount.

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The money is never an issue. It's how much are you going to ask of my time and how painful

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you're going to make this for me? A buddy of mine only services Fortune 100 companies. And he manages

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right now $1.2 billion a year in advertising. And here's what's crazy. His advertising agency

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actually has to front the ads. If they say, hey, for this month in December, I need to drop 300

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million on Facebook ads. He has to front the 300 million. But the thing is that he has to do it

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that way because he needs it to be as easy as humanly possible. So he actually has to have a

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revolving credit line in the billions. With a bank, he charges 6% of all advertising dollars.

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So when they drop 300 million, he gets 6%. Not bad. He gets $18 million. Just for

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fronting the cash. Rich people will always pay for speed. The easiest way to appeal to the rich

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is just do the same thing in half the time. Whatever the service is, if it's dry cleaning, return it

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by end of day. If you only have a phone number, be the person that can accept anything. If they email

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you, shoot you a text, if they WhatsApp you, if they phone call, you can accept anything because

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you've made it convenient. They just want it to be effortless. The third is if we know what

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products and services they want, how to price those things appropriately. When you solve rich people,

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problems you get to charge rich people prices. When you deal with rich people, you have unlimited

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upside, which is why they are better customers. There's five things I want to talk about from the

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customer perspective, because if you increase the quality of your customers, you increase the

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quality of your business. Number one, when you charge more money for your products or services,

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you get an increased emotional investment. If you have a very low cost item, people won't even

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give it the time of day. And so when you raise the price, you raise their emotional investment.

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And in a real way, you actually increase the likelihood that they get results. The second

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way that it'll help your customers is that they will increase their perceived value. There was a

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research study where they had three bottles of wine. They had a cheap wine, a mid price wine,

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an expensive one. They had people try them out and they had them rank them based on what they

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thought. People said, I think the most expensive wine is the best, the middle price is the middle,

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and the cheapest wine was the worst. And that's not that surprising, except when the research has

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explained that all three wines are the same. When you raise your prices, a more expensive thing is

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perceived in real terms as more valuable, even if the actual core product is the same. The third

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is results for your customers. If you increase their emotional investment, you increase their perceived

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value. What ends up happening? They actually do get better results. When they

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sign up for the gym for personal training versus a $10 a month thing, they get better results.

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The fourth thing that happens when you raise your prices, you actually attract less demanding

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customers. Have you ever seen this meme? The customer says, well, what exactly am I going to be

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getting for $50? Then it has the rich customers like, wire set, let me know what next steps are.

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Anybody who's ever been in client services can attest to this. The higher the price tag, the more

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expensive the contract, the fewer payment plans you have to set up, the easier the customer is to

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deal with. Part of the reason that a $50 person is saying, well, what exactly am I be getting?

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If somebody's got $100 in their bank account, you're asking for 50% of their net worth,

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just because someone's willing to pay you doesn't mean that you should take it. The fifth benefit

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that your customers will get as a result of raising your prices is that you actually have more money,

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you can deliver on your promises for it. Imagine you've got a hard-cost thing that costs five bucks,

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and you charge eight bucks. We only have three dollars left to run the rest of your business

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provide service. You don't have a lot of room there. Now, imagine you charge $50 for that same five

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dollar thing. You have $45 that you can now use to deliver two, three, four times the value. The

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customer gets a better experience. You can reinvest in your product. You can attract higher level talent

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to your business. If you have no margin, the best people aren't going to work for you. They're

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going to go to the real business owner who understands how margin needs to work. Whereas you're

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sitting here dealing with fires all day because the people haggling over $50, the best way to sell

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is having the full conviction that your product is the best. The best quality and the most

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elitist product in every line that we're selling throughout the world. And you can't say your

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products the best if you're trying to do it on margin and you don't have the money to reinvest

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in good people. You can't do it. When you have all of these higher paying, lower demanding, happier

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customers, your perception of the real impact you're actually making goes up and it becomes this

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snowball that starts rolling and you have these testimonials and these reviews that start rolling

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in. The momentum builds on the flip side if you don't have that and it becomes this vicious cycle

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in the other direction where you're not getting these testimonials or you're getting his chargebacks

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and refunds from these demanding customers that had unrealistic expectations because it was such a

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high percentage of their network there was nothing that was going to save them from themselves.