How to Get RICH In Your 20s - Best of 2024 Business Motivation

What would you say are the top three ways the best ways to multiply money then get rid of it you got to get rid of it at some point you got to quit being a saber you got to start being an investor debt is money please understand me in 1971 when Nixon took the dollar off the gold standard money became debt so the rich know how to use debt to get rich and that's what I do and other guys will tell you get out of debt you choose you Can become anything you want to become

but you're going to have to pay a heavy price to get there so the question is what is it that you want to do most of you aren't going to know the answer to that so you're going to go explore don't try to do what everybody else is doing if you do what everybody else is doing it's going to be a lot more challenging we want our shareholders to walk in the shoes I mean our directors to walk in the shoes of shareholders we want to Care a lot about the business and we want to

be smart enough so that they know enough about business that they know what they should get involved in and what they shouldn't get involved in fastest way to get to where you want to be find someone that's already there and ask them for help you would be amazed how many older successful people want to help if you're not always learning if to this minute if if I'm not continuously learning if I'm Not just absorbing as much as I can absorb someone else is going to kick me it's better to start earlier on in life the

earlier you figure it out the better off you are but it Canen happen later in life you're not going to get you're not going to get $823,000 a year at a job there's no job that's going to hire you and pay you $8.23 without you having to go back to college and spend time and invest money and what's happening for most people today is you know they Follow that age- old montra go to school what you learn about money in school nothing get a job while jobs are disappearing not only that is that with artificial

intelligence and G5 coming more jobs are going be wiped out plus with driverless cars more jobs are getting wiped out so why would you go to school to get a job and then work hard for money but pay and pay [Music] taxes what are you doing on your phone All day there's probably something within there that's a billion dollar opportunity the crazy part about business you only need one hit that's it Zuckerberg Warren Buffett all these people really just did one thing with I've worked directly for Zuckerberg Dustin moskovitz Matt kler these are all billionaires

Sean Parker been around Peter teal a little bit I think the the two biggest kind of surprises two or three of them one they didn't set out to Become a billionaire they just really cared about a problem now the second part of that most of them didn't get to become a billionaire or super rich for 20 years and recognizing that and being like okay cool if I can be patient and focus on longevity I can become a millionaire multi-millionaire maybe billionaire or Beyond things what that's common especially for employees is thinking that they can't escape

being an Employee you know it does take time patience and belief dream fantasy and through that that you can create the reality I've done a lot of things man I've been swinging for a long time and that's something that's available to everyone and I do think that's missed out on that there's a lot of ordinary people being rich and being successful and and people think it's an exclusive club and that's just not true I tried 24 different businesses to finally get to Appsumo to finally eventually get rich think about in your own life and your

own businesses like what is the thing you're looking forward to and excited about and it could even be small like one of my phrases I like is put it on the calendar what's on the calendar what are you looking forward to of what you're excited about and then the reality is that you can actually get going towards that dream sooner than you realize Everyone should be an entrepreneur everyone because if you get fired today what's your backup plane go on indeed.com and pray like having an entrepreneurship where you can have your own business and if

you start it right now not how you just get started and that a lot of what what we cover that is exactly a million doll weekend you could do it in a weekend which everyone has they can change your life in 48 hours you have the option and a lot of people Let's take appa.com we have a lot of people who have very successful side businesses and they're happy with their day jobs and that's great but I think people don't swing enough they don't even get started swinging and that's you know they're they're not ready

on the sidelines and there's never there's never a good time best time is right now it's not yesterday cuz I passed it's not tomorrow cuz you don't know it's right now there's 3100 billionaires on the Planet which is not that many so if you need if you want to meet one and learn from one that's a really great cheat code of life and they're accessible and so taking a step back around interviewing billionaires on our YouTube channel and then myself running almost $100 million year business at abs.com it's the power of asking is the most

powerful thing that no one is really improving on or really getting started on and that's available there's no Exclusivity on it the upside of asking is limited and the downside is a moment of dis discomfort the second thing with with this YouTube channel from interviewing billionaires and millionaires is that there's so many different ways of getting rich I thought that everyone else is only you can only get rich on the computer and on these worldwide webs I didn't know how to do it but I thought that was the only way and so through the YouTube

channel it's Been so powerful and so special there's Larry janeski he's making $600 million a year on basement you have this lady Jan which I guess it's kind of funny her name is Jan she does Jam she got Rich selling strawberries uh there's Michael hudner who did ships there's rafen James who did energy trading right there's there's such a f a phenomenal variety of people that are getting rich outside of just computers and I think that's so exciting To think about hey what is the area that I really like is it cooking is it doing

landscaping is it computers and and the ability in that to to create a lifestyle and a lot of money around areas that we're interested in you hear all these like I'd say fake entrepreneurs or fake coaches they don't they don't actually have any real businesses uh they're like you got a 10x today and you got a 5x if you're not 5x and you're failing I was like I've done That but it's also interesting what if you our goals now for forum.com is to grow 10% next year and it's been that for quite a quite a

lot of time and the reality is is when you set less ambitious goals for yourself you can stick with them for longer cuz you're not burnt out you're not tired you can sustain and then by having less ambitious goals you also have creative freedom because you're not stressed about hitting a Target and that gives You the ability to create 10x opportunities because you're like okay cool I'm not worried about making money in that but I can go do things that potentially you know be moonshots and really drive the company for the future there's a lot

more smarter people out there than they give themselves credit for the only difference is that I start that's the biggest difference but I would say the success of a founder and success in as a if you want to be an Employee CEO within a company is how are you being resourceful how are you solving the goal and the problems and the priorities with the resources that are available most people sit and they complain like oh I don't have this like there's a lot of people I'm not getting paid enough well what are you doing about

it did you put together a proposal did you go look at comparison analysis did you go create more Revenue so it's obvious that people Should get pay you more when you're going somewhere in in in a car you're like of course I want a destination then why don't we replicate that in business if you look at all the the best CEOs today the ones that I admire almost all of them are immigrants you know my father's an immigrant didn't speak English came to this country uh Sacha my Microsoft name these companies I mean just most

of them the Guy running Google Sundar uh a lot of the ones I mean even Elon Musk who is debatably a great CEO you know South Africa and so what is it with them that we can all learn from and aba.com we have aiming from Iran my father's from Israel Alona is from usbekistan Shaun is from London uh Vanessa is from Colombia like you know what is it about immigrants that we can all copy because that that is what's what Built America was we all came here From somewhere else and so the two things that

have really struck with me and I saw this woman who exemplified it her name was Sharon and she kicked so much and she was working basically at the Best Western serving breakfast and I you know if you have never been in Best Western it should be called the okay Western right it sucks it sucks but she was working like she was at you know the the Four Seasons I could not believe it she's like bringing me a pancake she's doing all these things and she was acting like a founder and and an immigrant I would

say she is an immigrant and I asked her I said you know tell me more what's really going on and she's like there's two things it's my attitude and it's my effort cuz that's in control that you're totally in control of your attitude and that's what I look for when I work with people and we hire people at abs.com and Her effort there's literally no restriction on effort there's no law the only law is 24 hours besides that you can work as hard as you want a lot of My Success is just cuz I'm in

the market and the market does well but I'm curious about these things number one so I was curious about social networking and I was like man man money I think worldwide it's pretty important I I think there's going to be something if you have a free money tool that's going to be big same Thing then with Facebook games that was going to be big then I did payments for games that was big and then I did kind of a Groupon business which is became appsumo that was big then we built sumo.com that was big which

is softare tool so ideally number one you're curious number two how do you get a part of it today right now not how don't worry that you don't have a website don't worry don't have a big social media presence but what can you take Action on to put yourself in that space so can you be in a community online can you geographically move can you start creating in that space so I think people are curious maybe and they they couldn't find it but they don't necessarily try it and understand it and they don't do anything

about it and I think the biggest thing for everyone out there is what are you doing on your phone all day there's probably something within there that's a billion dollar opportunity same Thing on what you're doing outside same thing what you're watching on content uh and just being a little bit more Curious and then taking action around that I think money is very sensitive and I think we're taught a lot about how to create it but definitely there's much more there as well how to enjoy it and different things that people enjoy you know a

lot of the interesting thing about success is that it's always externalized right it's like that person Is an icon that thing is successful they're doing well and and I really think it's like when do we finally feel like we're doing what we think our potential is and that is the our own icon our own legendary status and I would say around 40 is when I finally felt more internal validation and I stopped focusing on and so much of the external validation like how much money do I have do I have more than that guy or

girl did I do the things externally Wanting versus like am I doing really what I want and am I proud of the hard work that I'm doing for myself and around 40 I would say I'm I'm really proud of what I've been able to do the world does not belong to the pessimist believe me you're selling happiness and it's you know and having it an arms length away is a big part of it and you you know the distribution system been developed it's the right formula marar and it just has to be carried out with

You know with extreme diligence enthusiasm and every minute of the day there's an emotional undercurrent in Buffett's Journey that we often Overlook one of the most profound lessons from Warren Buffett's life is that he doesn't just acquire businesses he acquires the stories and experiences that come with them I would like to just tell you a couple of short stories and we'll draw maybe a couple of lessons from them two women each sold the business to Berkshire halfway uh to me actually for many many many millions of dollars both of them started with $2,500 and one

of them was a woman who landed in Seattle in 1917 couldn't speak a word of English she felt like a dummy she couldn't pick up a language she couldn't learn a word so they came to Omaha in 199 and then as her oldest daughter went to school she would come home Miss Daughter Francis and she would teach her mother the words she learned in school that day and this woman Rose brumin spent 20 years saving money bringing first her siblings over her mother and father $50 at a time she sold used clothing to do it

she had four children during this period And by 1937 after 20 years she'd save $2,500 she went to Chicago and she bought what she could Have furniture her dream had always been to open a furniture store but with the same spirit that the people in this room had about having a dream and working to accomplish that dream she built a business which she sold to me in 1983 for6 million approximately and which which did a billion half dollars worth of business last year the fourth generation is working in That business this woman Rose blumin she

worked for me until she was 103 then she retired and she died the next year which is a lesson to all of berkshire's managers that premature retirement you know nothing you can't tell what's going to happen but Mrs B with $2,500 one further fact about her she could not read or write and she didn't bring anything in unique in Furniture but she brought a determination to Succeed and I saw one other woman who did a similar thing with $2,500 I paid her hundreds of millions of dollars for her business today I'd like to tell you

about one other small business person this person I went to buy his business from him and he turned me down which was very wise but this was a fellow who was born about 8 years before I was he was born in 1922 he was a pretty good Athlete didn't like School much and I'm going to tell you one thing early in the story maybe you can figure out who the guy was the company he built hires more color graduates each year than any other company in the United States and this fellow who was destined for

this but did not know it Jack went to college for a year and then dropped out he really wasn't that interested in school and the year he dropped out was 1941 and when the country became United States became under attack he went down to the uh Army Air Force Recruiting Station volunteered uh and then he came back to the Midwest so now we've got a young guy probably by this time he would be 23 or 24 years old and they actually kind of went from one job to another for a short period of or not

such a short period of time and he finally became a used car Salesman at the uh had a Cadillac dealership uh in St Louis Missouri and at age 35 having moved up in the organization the sales organization he said to his uh boss uh could I go into car leasing business with you the boss said well if you cut your salary in half and you'll come up with you was $25,000 which he borrowed uh we can become Partners in a car leasing company so uh my friend Jack uh started at age 35 in the car

Leasing business and he had seven cars uh it was pretty slow in fact one of the things he did was whenever the phone rang he let it ring three or four times so people would think that he was very busy answering other phones and of course the only call he was going to get all day so his first Venture was okay but it wasn't really going to go any place and there's a lesson in this for all of us at age 40 he decided with 17 Vehicles 17 cars he was going to go into competition

in the Renta car and he's got 17 cars and his cars aren't any different than theirs I mean he's buying them from General Motors or fora Chrysler and uh he can't get the airport locations those companies have them all sold up but he was determined that he would basically offer the customer can't offer him a different car uh but he can offer him friendlier Service than they've ever seen and so he started a company he named it after the battleship that he'd flown from in the Pacific which was the USS Enterprise [Music] and uh he

died about a year year and a half ago but when he died his rental car company starting with those 17 cars was worth more than Herz and AIS And all the rest of the rental cars put together the man's name was Jack Taylor and his son Andy Taylor is a good friend of mine uh runs the business now a grandchild child is in the business they'll probably be a fourth generation along the line so this this man in the United States he didn't invent artificial intelligence you he didn't do anything that just like Mrs B

selling furniture I mean that any one of us could have entered those businesses but He lived by the by the Creed basically of of delighting his customers and working with people and establishing the relationship with them so that they in turn would wanted to like the customers he he couldn't go out there and take care of every Ronald cart uh possibility but he he learned how to project himself uh and his attitude toward his fellow man and his desire you know to make a friend out of every customer he Managed to take very ordinary cars

and turn them into this extraordinary uh business from virtually Nothing But at the age of 40 with all of that experience behind him he found the golden key and he he took a very ordinary business and turned it into an absolutely extraordinary uh operation uh and just like Mrs B Rose Bumpkin did uh with Furniture Buffett's Journey isn't just about balance sheets and profit margins it's about connecting with The Human Side of business it's a lesson in understanding the emotional investment that every business owner has in their Creation in a world driven by Cold calculations

and Cutthroat competition Buffett's approach offers a ray of Hope for every entrepreneur it's a reminder that behind every business there's a heart and soul that yearns to leave a mark on the world Buffett doesn't merely acquire businesses he becomes a part of their story it's not not just about Numbers it's about the people the employees the customers and the communities that these businesses serve the test isn't whether you get the greatest business idea in the world the first time out the test is whether you keep learning as you go along what your strengths are and

what you can do for your customers what you can bring especially to the party and to do that uh you need the education that that I know you've received uh Through 10,000 small businesses but you need a genuine a genuine desire day in day out to Delight the customer for entrepreneurs and business owners this is a powerful lesson it's a testament to the value of building meaningful relationships in the business world it's a reminder that success isn't just about what's in your bank account it's about the impact you have on people's lives so as you

navigate the World of business remember this your journey isn't just about numbers and profits it's about the people and the stories that enrich your path success isn't just about Building Wealth it's about building a legacy and the profound lessons from the hearts of those who've walked the entrepreneurial path we hope this video inspires you to follow your entrepreneurial dreams what was your favorite part of the video let us know in the comments and make sure to like And subscribe to keep up with our latest videos there are almost certainly a lot of things that you're

doing that are going to keep you broke I've done a lot of things man I've been swinging for a long time and that's something that's available to everyone and I do think that's missed out on that there's a lot of ordinary people being rich and being successful and and people think it's an exclusive club and that's just not true there's a difference between wishing for A thing and being ready to receive it no one's ready for a thing until they believe that they acquired now you're in a solution oriented mindset and people that get wealthy

let me tell you right now all they think about are solutions how do I solve this problem because you are if you're wealthy you must remember you're you're paid in direct proportion to the difficulty of the problems you solve and if that's true you better get very good at solving very difficult Problems and if you have something that's holding you back like I'm not as smart as a lot of people and that really pisses me off but the reality is pissing a moaning about it is not going to make me any smarter all I can

do is go make the most of what I have entrepreneurs have one thing in common they keep going they'll change the roles they'll reinvent the rules you know they don't just take one answer so a real entrepreneur it really makes no Difference which country you're in you know what I mean it's it's just a mindset you it's F you you mess with me I'll find a way around they make no excuses they take total responsibility for their lives in fact many people that fall into that category will take responsibility for things that clearly don't even

have anything to do with themselves people are spending all of their money death habit number one you're spending all of your money on Liabilities and not assets so the key is to understand what an asset is to understand what a liability is and to buy appropriately an asset is something that we you buy it's going to go up in value and not cost you money or even pays you money more money obviously than it cost you if you have a liability it's the exact opposite so the classic example of a liability is a car payment

the second you drive a car off the lot it's going down in value and with very Rare exception it is never going to go back up so it's going down in value and you've got to keep making those payments so you've got money going out while value is declining another one that people often think of as an asset but is usually a liability is your own home now the reason that your own home is so frequently a liability is odds are you have a mortgage odds are it's the most expensive thing in your life and

it's not like you can just get out from under That liability especially if the bottom falls out you're going to have property tax depending on where you live and you're going to have upkeep no matter where you live so now you're pouring money into this thing and maybe the value is going up but maybe not always and between the property taxes and the upkeep you may be paying more than the value is going up over time especially if you account for opportunity cost so the odds of your House after taxes fees uh upkeep all of

that being a better use of capital if you're living in it being a better use of capital than taking that same money and putting it into uh an index fund or something like that a diversified portfolio let's say the odds of the house returning more on that are very low unless obviously if you get into rental properties and things like that and you're not living in it so now it can actually generate cash flow well Then it's just a math equation a lot of people are chasing content creation or they were chasing crypto last week

or they're chasing blogging years ago and now now ai everyone's chasing and so what I'd recommend for other people out there and I've been able to do this literally [ __ ] man I've chosen so many trillion dollar markets uh to be around and a lot of My Success is just cuz I'm in the market and at the market does well but I'm curious about these things Number one so I was curious about social networking and I was like oh that's big cuz I got onto it and I finally I was able to see like

wow you can connect with the entire world even though there wasn't really the entire world at that point so curious same with mint.com I was like man money I think worldwide it's pretty important I I think there's going to be something if you have a free money tool that's going to be big same thing then with Facebook games that was Going to be big then I did payments for games that was big and then I did kind of a Groupon business which is became appsumo that was big then we built sumo.com that was big which

is software tool so ideally number one you're curious so I can talk about my crypto thing because I think that's kind of an interesting example of it number two how do you get a part of it today right now not how don't worry that you don't have a website don't worry you don't have a Big social media presence but what can you take action on to put yourself in that space so can you be in a community online can you geographically move can you start creating in that space so I think people are curious maybe

and they they couldn't find it but they don't necessarily try it and understand it and they don't do anything about it so even with crypto got involved I heard about it in 2012 didn't do anything I thought it was Stupid and then in 2016 I had to buy an illegal uh NFL stream that's how I got into crypto and so I bought this illegal NFL stream on a website seasons for you.com and I saw the power of what this could be and then I started buying at that point and that's where it's now become a

multi-million dollar portfolio and I think the biggest thing for everyone out there is what are you doing on your phone all day there's probably something within there that's a billion Dollar opportunity same thing on what you're doing outside same thing what you're watching on content uh and just being a little bit more Curious and then taking action around that I would say that everyone should be an entrepreneur everyone because if you get fired today what's your backup plan go on indeed.com and pray like having an entrepreneurship where you can have your own business and if

you start it right now not how you just get started and that a lot of what What we cover that is exactly a million weekend you could do it in a weekend which everyone has they can change your life in 48 hours you have the option and a lot of people let's take appa.com we have a lot of people who have very successful side businesses and they're happy with their day jobs and that's great and there's other people like myself that were always frustrated having a day job and so I wanted to create work that

I didn't have to work At and I do believe there's a a misconception and something that most people get wrong is that you can't do what you enjoy or passion or dream about and make a lot of money doing it I don't believe that but when I make a million bucks I keep a million bucks and the reason is because I don't make it by working for money see if you work for money you're taxed so that's why lesson number one in Rich dead poor dead is the rich don't work for money what we do

Instead is we create businesses as entrepreneurs we acquire real estate I don't want to invest in the stock market okay so the reason is because as entrepreneurs I have more control over my income how much I make and how much I pay in taxes and because I'm an entrepreneur as well as an investor in real estate I pay zero tax so every time I make let's say a million dollars as an entrepreneur I immediately invested in real estate I have a 4 to1 step up so I Put a million dollars in real estate I get

four 400 I get 4 million from the bank that's why I love Banks but the banks are screwing everybody else you know terrible but it's good for me we are all the same everywhere in the world I know care if you going to China going to kovo going to Bonas going to New York we are all the same we look different we sound different but when you get past the culture and culture is nothing but group habit that's exactly what it is When you get past the culture we are all the same there is one

mind there's not millions of Minds there is one and we are an individualized expression of it and when we tap into that universal mind it operates by law the idea must move into form that's one of the first laws of the universe of Perpetual transmutation of energy you understand that winter never follows winter when the tide goes out it always comes back in I got a beautiful Japanese maple just Outside my studio at home every fall the leaves fall off that that every spring they come back all the great paintings rembrand van go all of

them they were inspired to do the great work we have to understand that whatever rembrand or van go used we have available to us we're God's highest form of creation Spirit flows to and through us it's our responsibility to decide what we're going to do with it I think we've got an obligation to do great work We're only here for a short time not a long time and we've got the faculties and the ability to do great work I think we should entrepreneur right it's one of the most overuse nonsense terms out there I can

teach anybody to become an entrepreneur in 2 minutes flat all you got to do is go to f.com open an account and offer to make videos or images for someone boom you're self-employed you're an entrepreneur you can become anything You want to become but you're going to have to pay a heavy price to get there so the question is what is it that you want to do most of you aren't going to know the answer to that so you're going to go explore don't try to do what everybody else is doing if you do what

everybody else is doing it's going to be a lot more challenging you might have to sacrifice evenings you might have to spend less time on Instagram on Netflix you might have less Weekend time if you can dedicate yourself odds are you're going to be successful people that are successful they can self Soo they can stay emotionally calm in the midst of a storm when everybody else is panicking they're only looking at Solutions the whole point is to switch you out of problem mode into solution mode negative emotions are trying to teach you something they're trying

to teach you the opposite something else is going on On the thing with excuses is sometimes they're very true and but it doesn't serve you it doesn't serve your goal so are you going to let it sit with you or you going to find a way around it are you working in a job where you can earn the money you need to live the life you want while being fulfilled and happy doing the work you do I think that is the definition you don't have to be an entrepreneur for that many of the people creating

the biggest changes in the World are not entrepreneurs think about the engineers at Nasa think about the people who are inventing uh new technologies think about the people who um come come up with new with with new medicines that are changing lives many of these people are working for companies but they are paid well they love their jobs they're makeing a contribution to humanity and it is enough if you're that this idea that you got to be um working For yourself is so outdated rather you got to look at three things number one can I

exercise what I'm really good at doing number two do I love what I'm doing number three am I making money doing this and what we're good at together is not being right all the time it's basically learning from your mistakes so the physics of progress is you come up with a hypothesis it should be as informed as possible you figure out a Way to turn that into something you can actually do so you're going to run a test then you actually run that test and then this is where most people fall down you have to

lower your um psychological defenses to stare nakedly at the results and often times that's going to be you didn't do something well you didn't think through this right you made a mistake somewhere and then if you're willing to do that and you learn from that then you can reinform your Hypothesis make it a little bit better run that whole system again and once you get in that Loop then you can really make progress but yeah that the the tenacity it takes to face your inadequacies and continue to try try try that's where we've succeeded so

when Instagram was just getting off the ground right in like 2010 you could go and start an Instagram channel on makeup and maybe you might end up like Huda Beauty which is like 49 million fans Today but they were one of the early ones you got to get in early I think Tik Tok is still early um so I think there's an opportunity in Tik Tok um Instagram I think is is later stage um but there are also other fields which are picking up right now it's not just about social media for example coaching coaching

is blowing up right now uh more and more companies are looking for coaches for their employees what would be worse than frustration would be to spare giving up No hope but frustration is a sign that you haven't given up you know you could do something but you haven't figured it out a lot of people's reasoning which was ours originally when we wanted to make movies is we don't have enough money so we're just going to go and do this thing until we have enough money we don't have enough time and the truth is if you

play the no BS what would it actually take and you say I don't have enough money then you keep going down go How much do I money do I need okay what would it take for me to get that money and sometimes people don't want to look at the answers so maybe it takes you having to sell your house move in with your in-laws and rent one of their bedrooms for the next 3 years um in order to save your money so that you can go and start a company well some people don't want to

do that okay well at least now you have your answer and you're sitting there using the excuse that you Don't have enough money you just look to like oh to take for me to get there I need to live with my in-laws for 3 years I don't want to do that and now you've just decided and now you're not beating yourself up over oh my God I can't believe I'm not there yet or like with us with Quest there was no we didn't leave ourselves any room with for excuses cuz we just went down that

list of are we giving this over are we doing this are we actually showing up and if The answer is no then how can you expect to reach your goal I am completely egalitarian and I believe everybody has that when I wrote the book Mastery which is what this book is about to prove my point that everyone has it I interviewed contemporary Masters and one of them is the woman Temple grandon who was born with highlevel Autism right she was going to be hospitalized for her entire life when she was 2 or three years old

she had the good luck of finding the Right teacher who brought her out of her shell and she eventually became a a very um respected professor of animal research right she's absolutely brilliant and she also studies autism itself if somebody with that kind of disability that kind of thing you know everything stacked against her if she can reach she can figured out and reach Mastery and I certainly believe everybody has that potential but I know it doesn't come easy it's a process and You have to be patient but you have to put in the work

go experiment go try things just like Lisa was saying go play around go enjoy yourself figure out what it is you like nothing is ever going to be self-evident you're never going to come across something like this is what I meant to do with the rest of my life you were going to find something that gives you more energy than it takes when you find something that when you do it you're like oo this is fun and you're Actually energized by it then you're going to go down the path of actually gaining skills in that

the more you engage with that if that continues to be more fun now it will become a Fascination once something becomes a Fascination now we're going to really figure out if we can serve other people with that set of skills if you can you've got a hope of turning that into a passion passion is about acquiring enough skills at something that other People care about and you you have to care about it first and foremost but if you care about it and other people care about it now you get into that reciprocal relationship where and

it could be playing the guitar it could be playing video games right think about somebody that's just an absolute god tier gamer but they had to get freakishly good at that they had to spend a lot of time improving their skill set so they worked Hard to gain a set of skills that allows them to serve not only themselves but other people that is the name of the game the problem is people are expecting something to be self-evident they are told a lie that they're born with a purpose you're not born with a purpose you're

going to decide that this passion this thing that you've worked off to get good at that allows you to serve not only yourself but other people that's now your purpose so when I was a quest My purpose was making sure that people had food that they could choose based on taste and it happened to be good for them at impact Theory the goal is to give people a growth mindset at scale through story so I'm just doing entertaining things but it's designed to help them get that right mindset that is my purpose that wasn't my

purpose when I was 12 or 20 or even 30 so you're going to decide and then you're going to do things to reinforce that in your own Mind there there are lots of different opportunities but you got to try to find these new feels these new things which are emerging now here's the good news right according to futuris Peter diamandes between 2022 and 2026 the world will see as much change as between the year 1900 to 2000 in 4 years starting starting next month we're going to see as much change as between the years 1900

to 2000 new technologies New Opportunities new Things are going to emerge the whole field of web 3 emerging right now and this means there's going to be so much opportunity for disruption if you are a traditional company and you're not Nimble and you're not on your toes this is bad news for you it's it's literally bad news there's going to be massive disruption across companies all around the world but if you're an entrepreneur aspiring entrepreneur it's good news cuz there's going to be so Much change and so much opportunity for you to disrupt the established

players so the master is about your high level of skill right and to do that you have to go through an apprenticeship you have to learn things over and over and over again truly believe that fulfilling your career Ambitions is going to lead to to a high sense of fulfillment in your life so money doesn't bring you happiness it's never made me happy I don't measure happy what do you Measure uh I measure accomplishments I measure targets I measure you know who who I'm helping things that I can actually physically measure you know the reality

is most of us don't dream big you got the mindset are you looking are you paying attention you can do it bro you you got to give something up it's not you have to add something you always have to give something up really I have I've never been able to go from Here to there and not give up something they got me here if you're going to go from zero to a millionaire when you get to a millionaire you if you want to go to the next level you want to go to 10 million you

will have to give up the millionaire life that's why I said I got to hold myself accountable to the goal but I'm have to keep reselling myself on this goal people want to create wealth for Themselves it's not just money it's people not how much money I have I mean we all know about the the wealthy person that that has no friends he's on a yacht by himself and that's not wealth right it's just a bunch of money and material collection to me there's no way to create real wealth by just going inside you got

to go I got to add people how do you get people to know who you are I say almost yes to almost everything why do you say Yes to everything because because it connects me to another person I need people to get to know who I am I'm going to become somebody [Music] I want to contribute more I don't think about I want to be more happy I'm not thinking about Joy I'm not thinking about contentment I'm not thinking I'm thinking about action I want the action I want the Grind I want the possibility I

want Legacy I'm trying to figure out how to extend a 100 years how could Grant Cardone still be relevant in 2123 [Music] do I want more happiness dude I want more time is what I want and I want more Health would time and health bring you more happiness as long as I have people around me that I want to be around I don't like being around people That don't do stuff I don't like people that talk about doing something and don't I don't like being around people that can't pay bills and can't throw in and

can't contribute cuz I know they can most of the people watching right now everything you have budgeted for in your life you can pay for it's the things you didn't budget for the big dream but everything else you got covered everything people pay attention To house note car note electric bill water bill Basics everything gets covered what if you just added a whole bunch of other stuff to the list what if we were all brought up to say hey we're going to cover all this stuff people would be even more productive what would you say

the top three ways the best ways to multiply money then get rid of it you got to get rid of it first you got to make it I mean I got to collect it I got to collect some then I got to figure out okay this pays for this basic living everything above that don't spend any more money like the rest of it if this is 4 grand and I make seven the entire three has got to go into Investments every month every every single month at some point you got to quit being a saber

you got to start being an investor this is what we should have been taught in school man this is what we should have been taught as kids like How do I do money you do it with time okay you don't do it with a job you're not going to get you're not going to get $823,000 a year at a job there's no job that's going to hire you and pay you $8.23 without you having to go back to college and spend time and invest money just doesn't work like that what do you think people in

the middle class are doing that they should shift in their mindset in order to start getting out of that well you don't Borrow money to go to college why would you trade five or six or seven years of the income time is money so I wouldn't go to college I would never buy a home I would never put debt on a home if I bought a home I wouldn't put debt on it and these are Nevers for me on the come up on the come up yeah on the come up once you have the cash

dud once you're if you're wealthy and you want to go buy home and you know would buy yachts and stuff Would do whatever you want to do but but on the come up uh you would never spend your income you would never spend primary income on improving the quality of your life you would only invest and that's what I'm trying to teach my kids like Sabrina I let her pay all the bills I've been doing this said she was probably six you pay the bill we don't give them an allowance I don't think any kid

should be given an allowance interesting why not they want Money they become an employee of the company they work for the company we give them a series of things to do we pay them once a year okay we give them a big check at the beginning of the year that money goes into card on Capital wow and they live off the distributions come on sometimes they'll get a bonus for doing extra stuff but they don't get the money they never get the money it's invested and they get the that money is invested they get the

Distributions they will create wealth over the next 10 years but it'll be their own wealth it's not something I [Music] gave what if you could only teach your kids three lessons about money yeah what would those lessons [Music] be people number one meet meet people every no one's a stranger to money's a people game two once you get it don't lose it And number three um invest in things where you can never lose your Capital now the person watching this she's a waitress and she's got two kids at home she's like I'm never going to

make 800 it's cuz you already gave up on the idea like you never you never you never said that's the Target and you keep thinking you got to wait tables and you you quit already how many how many people are in debt in America 40% of people that make A million dollars a year still still are living paycheck to paycheck 6% 40% but that that's not because of inflation that's cuz they spent money they shouldn't have spent they thought they were entitled to because they're millionaires they live above their means they live above their Investments

not their means how can we shift the relationship to money that we have so we can have a better experience emotionally and Spiritually about money anything you're hiding you're going to have problems with the secret keeps you sick first thing I look at every day is my money I have a great relationship with my money I'm not just going to think about it I'm going to be somebody today I'm going to grow into who I should be what I've done already is impossible from where you came from and all these Things from where I came

from I should be dead I should have been dead at 25 years old or in jail messed up forever you know instead I've beening this got and I and I mean I'm grateful and I had I don't know that I had any breaks I know when people say oh you had luck I'm like you grinded right I've been [Music] grinding and I'm proud of the grind but I want it to turn into Something more than money I'm going to feel good about a lot of places I go to and a lot of people I meet

because I made more contributions than I didn't I I gave more than I took whatever industry you pick if you outwork everybody if you try to be a little smarter than everybody if you try to be a better salesperson than everybody if you try to be better prepared than everybody you've got your best chance because if you don't do it And somebody else does you know I have the saying work like someone's trying to take it all away from you you know work actually work like someone spending 24 hours working 24 hours to take it

all away from you and and that's kind of the way I look at it what would you say is the number one reason why people fail lack of brains lack of effort lack of brains lack of effort yeah they just they don't do the work they don't learn you know when you Walk in the room when you start a business and you start to talk about somebody you're you're never in a vacuum with no competition you know unless you're just extremely lucky and if there's going to be competition that means somebody else knows your business

as well as you do when you get started and if you walk into a competitive environment and they still know more about the business than you do and more about your customers you're going to Lose but most people don't consider that they don't do the work they don't learn more about their industry they don't know even about their business I mean and so you've got to put in the effort to know more about your industry than anybody else um and that's that's the brains part and that's the effort part as well because look if you're

competing with me you you better know what you're doing otherwise I'm going to kick your ass you know and you're not going to Outwork me and so you know the combination is usually what kills businesses early on more than anything you could within a 5 10 minut minute interview say this D is not going to make it as an entrepreneur yeah I mean I can I can typically tell right I can tell um but by um their passion I can tell by their focus I can tell by their preparation you know there there's a whole

realm of things in any business here you know here's here's the business You're in and here's a thousand things that influence whether or not you're going to be successful you know through my experience in businesses I can put myself in his position and say okay here are 900 of the thousand things he has to be aware of and then go through ask and by how many of those or her um issues they've been able to address already that kind of gives me a sense of how hard they're willing to work you know and I can

tell by the questions they ask Me so all I have to do is say okay what do you want to know and you know when they start saying what should I do they ask you yeah you know and that's fine right and I want them to ask questions but you know people like to say you know the only stupid questions are the one you don't ones you don't ask and that's not right right because the questions you ask tell me tell whoever more about you than anything else you do because in particular it tells me

about your Preparation if you ask me questions about just basic things that you should have known and you should have down to a science that's going to disqualify you almost more than [Music] anything if you're not always learning if to this minute if if I'm not continuously learning if I'm not just absorbing as much as I can absorb someone else is going to kick my ass right so you talk about paranoia the the Greatest source of your paranoia should be knowledge if someone else knows more than you do and if you're not learning if you

don't know learn if you don't know how to learn if you don't have a thirst for Learning and acquiring information you're you're so do you think there needs to be a healthy level of paranoid absolutely there needs to be oh yeah I mean I always say you know for every one of my businesses I I say what would I do to Kick my own ass you're right so whatever business you have there's somebody trying to put you out of business there's somebody trying to to take a bite out of your business MH and it's better

for you to figure out how they're going to do it rather than they do it um and so yeah that's being paranoid and so you have to be paranoid you have to anticipate other people's next moves and you can't ever you know downplay the competition I was at a business plan Competition this morning for at a college and they were kind of being dismissive of the competition and it's so you can't ever do that you know they're out there trying to take you down and they're not just going to sit still and if you're good

really really good you're going to inspire them to work even harder faster better and so you have to be you know very self-aware of what you're good at and what other people are good at and you know a Healthy dose of paranoia makes a big differ I mean is very helpful let's transition to a different subject with college you went to IU right now you got a lot of people that uh say forget about school you know drop out of school so you think they're ID tell me why um if you're going to have and

run a business if you don't understand accounting you're already behind the eightball can't you hire a guy that's that knows how but then they They still have to communicate to you your accountant might tell you you're profitable but your cash is going down you know not understanding um a breakdown and and when you don't you think you need college to learn that yeah I think you do right because it it may not for some people look if you're so self-motivated that you can take an online course and accounting and teach yourself everything you're way ahead

of the game anyways but most people aren't I don't care if you go to Community College and take accounting and and spend 99 bucks for the class just you know spending money forces you to be more obligated to do it but accounting Finance lesser extent Marketing sales if the school offers that these are all the that's the language of business and so while it's possible to teach yourself these things and while it's possible to hire them when you're starting your own company you don't want to have to spend Money hiring an accountant well let me

tell that if you've gone through all these classes probably don't have to hire a lawyer to incorporate right you probably figure out yourself and so your cost of opening up a business drop but even more important than all that that's that's the blocking of tackling that's the language of business you know the thing I learned at Indiana that was more important than anything else I learned How to learn and learning became far more important to me because the one certainty in business is that it's always going to be [Music] changing um how does one entrepreneur

increase the speed in areas that they can increase there's certain things you can't control speed of growing your business so how fast can I grow yeah I mean it just depends you've got to know your your own skill set right and you've Got to know how that fits within your company's life cycle um you know some companies are slow slow grind and you just have to understand that and you've just got to abide your time till it starts to click and then grow with it quickly you know if you're trying to release a product that

needs to be ubiquitous you've got to go um as fast as you can and and then you know release a product a launch yeah and and you know there there's a lot of people that will Say you know is the enemy of profitability right and that doesn't mean you have to wait till it's a perfect product it really just depends on what the product is it you know a a barber shop right is it an app is it um a service is it a product but you know the the key is looking for the lwh

hanging fruit what are the what are what customers are willing to write you a check or commit to it you know so that they're willing to integrate it into Their daily lives or integrated into their daily business and so getting a commitment either through time or revenue is typically what I look for and so if I can get a commitment then I'm I'm going to be able to learn I'm going to see how they use it do they sustain usage and then once I get the next one you know hopefully it came a little bit

faster than the first one then I can ask for referrals and then the next one then the next one and I just try to ramp it Up you know when I bought the Mavs we we had no season ticket holder base and so literally it was a matter of just putting a list of former season ticket holders in a white pages back then you know on my desk next to my phone and making phone calls you yeah me yeah because if I'm not going to do it how can I expect someone else to do it

right so just get on the phone hey this is Mar c I'm the new owner of the Dallas you know i' like to invite you back for it's Not though this is my business you you can't get regular sales gets or something to make those calls once they get to a quarter you're a guy that's a billion you're making those but that's all you know that's fine and good right because everybody's got their own goals right and but still I I don't want anybody at the Mavs be able to say well he's not willing to

do the work right there's you know if I walk around I'm picking up all the papers I'm not saying Go get that picked up I'm like okay that's trash I'm picking it up um so but in terms of speed of growth it it's really you got to get that first customer first and then when you get that first what did you learn reiterate get that next customer and then hopefully as you learn more and more through the process then the next one the next one the next one becomes com bying faster now alluding to earlier

about entrepreneurs being born or built You know and I think there I knew I was wired to be excited about business how or why I don't know but you know and there's certain guys that have the genetics to jump out of the gym right there's certain guys you know that you know when they golf they have the muscle memory and and the discipline you know Dirk um nisy may not be the most talented guy in the NBA but his discipline and his Focus to do what's necessary to be successful he's willing To do and combine

it with being 7t tall and being skilled you know it makes him an amazing basketball player so it's it's understanding what your skill set is finding the right place to use those skills and then going for it you know will that make you 250 Grand it depends if you pick the right industry you know I started my first business when I was 12 I was buying and selling um baseball cards buying and selling stamps anything I could do to Make money I I was hustling and trying to do so I was into business but I

not so much where it was all my friends were into it with me so they wouldn't know baseball cards yeah baseball cards you name it I mean I grew up in Pittsburgh and so I would probably even less than 12 years old I would go out buy a bunch of baseball cards that I collected and I would package I would say okay you're guaranteed to have a Pittsburgh Pirate in this package and I would charge three Times as much and I'd set up on this park bench down in the park down in Scott Township where

I grew up and um I'd have these little sales and it was great I made money and I I mean it was you know and I learned as much about business when I was 10 and 12 as I I learned any other time you hear all these like I'd say fake entrepreneurs or fake coaches they they don't actually have any real businesses uh they're like you got a 10x today and you got a 5x if You're not 5x and you're failing and the reality is is when you set less ambitious goals for yourself you can

stick with them for longer because you're not burnt out you're not tired you can sustain and that gives you the ability to create 10x opportunities because you're like okay cool I'm not worried about making money in that but I can go do things that potentially you know be moonshots and really drive the company for the future find someone who Sits in a position that you want to be in the fastest way to get to where you want to be find someone that's already there and ask them for help you would be amazed how many older

successful people want to help so don't talk yourself out of asking for help but also one of my favorite ones is show me your friends and I'll show you your future I see so many people surrounding themselves see your frequency is your neighborhood and let me explain what that means is your Frequency is created by your neighbors and if you're sitting in the projects on a lawn chair drinking a Colt 45 you may have all the skills in the world all the knowledge in the world all the desire in the world and when you turn

to your buddy on the lawn chair drinking and you say hey can you help me how many options opportunities and touches a favor do you think someone in your neighborhood is going to be able to give you I'm telling you frequency and vibration wise Surround yourself with the right people and the right ideas show me your friends I'll show your future surround yourself with people that are going to give you more options more opportunities and more touches a favor surround yourself with people that feed you so many people are being bled 80% of their time

is around people that make them feel like crap they're watching things that make them feel like crap they're listening things that make them feel like crap they're Surrounding themselves with people that make themselves feel with crap they're being bled all day long and wonder why they feel bled well it's never too late it's better to start earlier on in life the earlier you figure it out the better off you are but it can can happen later in life now I figured out at an early age that I wanted to write I didn't know what I

wanted to write but I Loved Words and I loved writing and if I didn't have that connection when I was 8 years old All the way into high school and college I would have been a lost soul and I empathize with a lot of people who don't have that feeling when they're eight or 18 or in their 20s but I'm try to tell people everybody has it you're just not listening to yourself you've lost touch with who you are are the core of your being you're on social media too much you're listening to what other

people are telling you you're listening to what your parents told you you should be Doing in life listening to what your friends think is cool you're listening to what the culture is all about you know the entertainment industry Etc you got to cut all that out you got to listen to yourself and you got to be a bit bold and you have to embrace What Makes You Different What Makes You Different what makes you particular strange if you want to use another word is your strength is your source of power you've lost touch with it

let's go back And try and find it and that's the that's the that's the whole problem how do you find it well it's a process it takes time to do anything in life takes time and hours and patience and work I recommend o starting a journal and such and writing down some of the things that I think are important to you so I like to tell people to go back to their earliest childhood memories of things that really excited them before they got mixed up with parents and teachers and All that like other people telling

them stuff you know if you are somebody who's word oriented and you end up going into a field that's about math or about numbers you're in for a lot of pain in life right so you've got to figure that kind of what I call Primal connection to some kind of field you have to look at the things that you love and the things that you hate a lot of people are chasing content creation or they were chasing crypto Last week or they're chasing blogging years ago and now ai everyone's chasing Ing and so what I'd

recommend for other people out there and I've been able to do this literally and I've chosen so many trillion dollar markets uh to be around and a lot of My Success is just cuz I'm in the market and in the market as well but I'm curious about these things number one so I was curious about social networking and I was like oh that's big cuz I got onto it and I Finally I was able to see like wow you can connect with the entire world even though there wasn't really the entire world at that point

so curious same with mint.com I was like man money I think worldwide it's pretty important I I think there's going to be something if you have a free money tool that's going to be big same thing then with Facebook games that was going to be big then I did payments for games that was big and then I did kind of a Groupon business Which is became appsumo that was big then we built sumo.com that was big which is software tool so ideally number one you're curious so I can talk about my crypto I think cuz

I think that's kind of an interesting example of it number two how do you get a part of it today right now not how don't worry that you don't have a website don't worry you have a big social media presence but what can you take action on to put yourself in that space so can you be in A community on online can you geographically move can you start creating in that space so I think people are curious maybe and they they couldn't find it but they don't necessarily try it and understand it and they don't

do anything about it so even with crypto got involved I heard about it in 20 12 didn't do anything I thought it was stupid and then in 2016 I had to buy an illegal uh NFL stream that's how I got into crypto and so I bought this illegal NFL stream on a website seasons for you.com and I saw the power of what this could be and then I started buying at that point and that's where it's now become a multi-million dollar portfolio and I think the biggest thing for everyone out there is what are you

doing on your phone all day there's probably something within there that's a billion dollar opportunity same thing on what you're doing outside same thing what you're watching on content uh and just Being a little bit more Curious and then taking action around that yeah more of those CEOs would respond to you than they would today when you're young because they were young and they know how important they know that they would not be where they're at if they didn't have someone Elevate them and they wouldn't be where they're at unless they're elevating others you need

to elevate others to elevate yourself but also you need others to elevate you to Elevate you it's amazing and everyone see they get fooled by the closed mind I tell people life is so simple today because of the size scope and scale of access that we have we don't have to write you can DM them you can email them you can call them this wasn't available when we were working for the Oilers or wherever and why is that important because I teach kids especially just look for the open mind how do you find an open

mind smile at someone if they Smile back they have an open mind tell them you like their clothes tell a woman she you like their purse or their shoes if they smile they have an open mind it takes a thousand times the effort to convert or to transition or re-engineer or close mind than an open mind and remember this everybody has an open mind some of the time some people almost all the time some people almost never but if you catch someone who has a closed mind when it's open it's really valuable so Qualify people

by open minds they have Open Hearts and open hands and guess what they surround themselves with people with Open Hearts open hands and open minds which allows you to create two types of people in your neighborhood people who help you and people that know someone that can help you nothing can help you more think about in your own life and your own businesses like what is the thing you're looking forward to and excited About and it could even be small like one of my phrases I like is put it on the calendar what's on the

calendar what are you looking forward to the vision right and so for your vision we said we want to build a great sustaining company into the 21st century because we had just sold Ras and we actually kind of wanted to keep it going they just made us an offer we couldn't refuse we owed That to the shareholders and then the mission is all about leadership because the object of the game particularly in Silicon Valley is to be the category King because when you're the category King you get 80% of the industry resources and 80% of

market cap so our mission was to create a category called business to business electronic Commerce and to be the leader and then the next thing under that is your values so right Integrity is there courage High ambition Accountability respect the basics and then we had a set of Team rules that kind of personify those values and by the way same team rules for all the companies the first one is direct open and honest Communication in a word the truth because I had seen at General Motors when you go through 15 levels you know I started

at the lowest of the low production form to the highest of the high where I was a staff for the board of director I could see how that message Would change right um the second one is no IDE is a bad idea and then we added parenthesis unless CEOs so because it's all about making a safe environment and and and you can make a a safe environment when you mock out the o plus is fun uh the third one is always raise the standard in everything we do and our people our processes and our products

and if somebody can't keep up with that standard you got to do something about it otherwise you've automatically Lowered your standard and the fourth one is we're a team first and functional specialist second so you developers put your feet in a customer shoes you sales guys don't make commitments we can't keep and then the fifth one is the most powerful one of all and that is hire the best people especially if they're better than [Music] us for 20 years I was just so obsessed with creating money and getting money And I was not really obsessed

at all enjoying life and enjoying the money and that's something when Co happened that that trans 18 my life and I'm grateful for it it was definitely unfortunate for a lot of people I was just grateful that it brought up okay well if this is not forever how do we enjoy this life and so a lot of my learnings and what I do in our channel is to Aspire inspire people to be able to do their own things in business training and that doesn't mean To be a millionaire I will say I will I will

say with 100% certainty being a millionaire is awesome the ability to go to the grocery store and you're like just give me the things I want go to the go to the supermarket and not worry paycheck to paycheck not worry about it like I actually instill more like okay I should wait more to buy things let's delay that gratification instead of just getting everything I want when I go to these billionaires one Of my favorite questions is how do you enjoy money but what do you regret about the money and almost all of them they

will say almost they either saying it or the what they're actually saying is they regret not spending more time with their family and only a very few were able to balance that and that's something that's stuck with me where it's the reason I left San Francisco I didn't want to talk about funding and employees and uh how biger companies I don't care I really you know what I'm interested in is like how good is your life like how are you with yourself not even necessarily you have to be this donor person I think that's that's

that's one way of a great life how are you to your partner how are you to your parents how are do your friends how are you the people you work with and I think money is very sensitive and I think we're taught a lot about how to create it but definitely there's much More there as well how to enjoy it and different things that people enjoy like I enjoy I enjoy watches and bicycles and I enjoy I enjoy having a nice house I never did any of these things before cuz I was like I should

just keep saving and saving and saving and with Co I was like maybe let me enjoy a little bit in the areas I'm spending a lot of time and those are the areas and then watches was also just how do I how do I how can I represent pride in Myself like what I've accomplished in different areas so you know me and my partner are pregnant she's pregnant I I did the easy work you know and so I got a Rolex with me and two other buddies I bought three Rolexes Pepsis to honor that and

that's super cool that I can I can do that for us and for them and uh money enables that would I be just as happy without it yeah but I would say having money to be able to have a nicer house be able to have a house you know Live in Spain without worrying about the money and these type of things makes life so much easier went from owning 33 homes in San Diego alone to a rented house rented Furniture a pregnant wife with three daughters under 10 what am I going to do and I

got to tell my mom she's moving I have really messed this up and in some respects I was more equipped but in others it was like okay I already got the lessons why are you punishing me and when I laid there in Bed that day of filing bankrupt see and keeping it secret cuz I wasn't the person that I am today I illuminate all I am who I am you're either going to love me for who I am but you're not going to literally you're not going to love me for who I'm not you can

hate me for I am but you're not going to love me for who I'm not I am I'm going to tell you the truth and illuminate to the best of my ability spend minutes and moments outside of the truth minutes and moments In ego-based Consciousness that's the secret sauce of what I do but when I lied there in bed it was another coincidence because tears were rolling down my face I could not lift up my arms right it it harder almost because I knew the lessons it wasn't like I was in that ignorant arrogance where

I was in blame shame and justification I was lying there being accountable and that's hard and at that time accountability still was tied to what did I do to Attract this to myself what am I supposed to learn it's evolved to what did I do to participate in it or the perception of it and what am I supposed to learn but I remember like I I wanted to get up TV was on almost like the jacket one of my favorite movies is Rocky and so I'm lying there completely crushed and I turn it on and

there's Rocky one the end of the movie Movies on and it's that scene the music's going I'm crying and Paul Creed is just beating Rocky and I don't if you remember the scene he's hanging and then he gets to the ground and Adrian's in the back and and he's sitting there and he couldn't get up six right and he one of Mickey's like stay down right and everyone else get up and Rocky and I'm sitting there I'm down and I'm watching him he looks up I see it he looks up somehow the Music going and

he he gets back up right and then he pops Apollo in the in the ribs and that round ends the second to the last round and the movie continues on to eight more movies or whatever I think to myself what if he didn't get up what if that movie ended that he was just crushed he had learned all the lessons remember he went through all the different lessons in the movie that made us root for him love him but that one moment of Bankruptcy he had a decision to make if I can look up byond

allbody everybody else I'm going to get up and because he got up we all know what happened in the other eight movies I wanted to see what was going to happen in the other eight movies for me we never hear any stories about people that start in the middle and go straight down okay and I went straight down and then down and then down I'd like to believe that I could Look in the mirror and tell myself I'm great and and then I'd feel it but if you're destroying yourself the other 23 hours and 56

minutes the selft talk isn't going to matter rich people do not value money the way poor people do I I think a lot of us if we grew up poor we believe it takes money to make money our parents told us that uh maybe a grandparent or the neighbor somebody said that to us because that was their how they Justified not having their break through and getting trapped they're like oh my the reason I didn't get out and we we know every we know everybody's got an excuse in their lifetime everybody uses them at some

point in their lifetime to trap themselves this idea that it's not true it's a myth what are all these successful people have in common you know whether it was the mattress dealer the car dealer the furniture dealer or Elon Musk they spend money Man you know they spend money they spend a lot of money and they don't worryed about money the way I was worried about it they used money you know they used it they didn't save it they didn't hoard money and the greatest companies on this planet today the ones that have just like

some of these companies have lost money for 25 years look at Amazon yeah reinvest 1.7 million employees when I started I I remember I looked at Ern young I said I have a buddy that worked At Ern young I said how many employees you got he like 240,000 wow and I'm worried about 10 people mhm what am I thinking so so when I quit studying individuals and started studying people everything shifted for me what is this big company doing because that also relieved me of being competitive with this guy Pete and started saying okay I'm

going to go do what Coca-Cola does that's when I bought the plate right really yeah how were when bought the Plane uh I was uh 50 maybe 55 the first one I bought it cuz cuz I studied what Coca-Cola was doing they bought planes I said why are they buying planes oh then I learned how they write them off and then I learned how they trade them every 3 years that's crazy so notice every 3 years I'm trading a plane I'm getting rid of it replacing it with another one but what are they using it

for they don't use it for pleasure they're not using it for Instagram photos they're Using it to go and set up headquarters in other countes wow you know so so that's when I wrote uh if if you're not first you're last because when I started studying these companies I'm like Coca-Cola is everywhere you can't go any place and not see Coca-Cola I was like this big I was always thinking about what can I keep and they were thinking about how many shells can we get on how many eyeballs can we see mhm so that's when

it that's when it all clicked for Me I'm a guy that grew up in the middle class all I do is do drugs all day long I don't learn a d damn thing nothing one night there's a deal that goes down in my house me and another buddy are partying they call it partying it's never a party it's always bad I open the door to walk this dude out and this other guy jumps up on this the step puts a 45 caliber pistol right my face literally right here in my face jammed the barrel right

into my head you can See the scar right here okay then he took the back of it and started hammering both sides of my head underneath the mouth on top the head put 76 stitches in my head and face and I went to the hospital my mom was called to the hospital my mom had no idea who I was she's like but where's my son 28 Days Later I was in a treatment center for drug addiction and I finally put my first couple days not using drugs together but more importantly than not Doing something I

started something that day I'm going to become somebody I want a great life I want to be the guy that has freedom I went into work the next day the people that I worked for were great ious enough to let me keep that job I took that addiction for drugs and literally threw it into my work I really started learning from the in the beginning what what you learn is you're learning from the master you know and and so I'm I'm Duplicating and emulating then at some point you cross over and you become the master

if you're a guy like me I'm always looking to improve everything I'm looking for another little tweak another little twist you and I did that with the podcast I'm looking for that that next thing all the time how to make something just a little better uh a little faster and so at some point I kept studying this guy until I I was able in the beginning I didn't challenge anything I Used I duplicated me follow the script that I that I learned let me use exactly what he's telling me to do do it I whatever

whatever I heard I'm I'm going be like I'm going to make that work that's going to be my stable datm and once I could re once I could trust that then I could build on top of it I never yed anything oh I got a better way in the beginning dude until I got the results over and over consistent results then I started Be then I started teaching it to other people then I started learning angles and then then then I basically created my own style and my own I actually almost threw away what I

had learned and created this new thing called information assisted selling information assisted selling where I started leading with what people wanted rather than this guy kind of hid it was the old school had it don't avoid the price bring it up later and that's Where I really started accelerating everything giving people the information up front allowing you to understand how much this watch or ring was or car was before you even asked about it i' tell you it's 58,000 right away so you wouldn't wait till the very end you'd say everything look look if you're

if you're shopping for a car or a watch or ring or a a coaching program whatever it is you you probably want to know how much it is I know I would this this Particular product is 58,000 it would require about you know $2,500 down your payments would be about $550 a month um let's be sure you're on the right product you see I've already I I got the the value proposition the money I got you thinking about money right now I want you thinking about money so that when I show the product you can

start making sense of it because I can't convince you that it's worth it you have to convince you they gave me a little Pill and said you need to take this little p pill every day I said dude I came here to get off pills okay and before I left the counselor grabbed me and said hey if you don't give up your ideas of getting rich because in 28 days you share your whole life all your dreams your goals everything they're trying to get to what happened give up all your ideas of writing books give

up your ideas of of of helping people all over the world just help the alcoholic And the drug addict and that'll be enough give up any ideas of being rich and famous being free and financially wealthy give it up okay okay cuz if you you need to be satisfied with one thing not using drugs every day so I went home with my little pill sat down that night looked at that little pill on the little table that I had and and um remember what that dude was telling me give up all these ideas looked at

that pill I'm like dude I'm going to show This guy that I'm not powerless I'm not unmanageable I can control my life I'm going to get rich and so if I could just stay busy okay if I could just have a place to work every day and something to do and somebody to call and somebody to be in front of that that was my big fear my big fear was that little white pill I through those in the trash that night never would use another one again and I just made a decision that day not

to quit not to be powerless not to be Unmanageable but to be somebody and I've been doing that since I was 25 every day waking up today I'm going to be somebody I'm not just going to think about it I'm going to be somebody today I'm going to grow into who I should be we're not interested in people that want to be on the board because they want to make A2 or $300,000 a year you know for 10% of their time and we're not interested in the ones who for whom it's a Prestige item uh

when who want to go and check Boxes or that sort of thing we want our shareholders to walk in the shoes I mean our directors to walk in the shoes of shareholders we want to care a lot about the business and we want to be smart enough so that they know enough about business that they know what they should get involved in or what they shouldn't get involved in when we buy businesses we don't have managers to put in them I mean we're not buying them that way we don't have a lot of mbas around

the Office uh that were thank God yeah we need management with the businesses that we buy three times out of four thereabouts the manager is the owner and we have to decide in that time when we meet them whether they love the business or love money and we're not making a moral judgment Charlie may but I I'm not making a moral judgment about whether it's better to love the business or love money but it's Very important for me to know what which of the two is the primary motivator with them it's no secret that Warren

Buffett and Charlie Munger are two of the most legendary investors to have existed just in 2023 the iconic Duo brought the cash pile they store at birkshire Hathaway to a whopping 157 .2 billion what can these Legends of Industry teach us in their 2023 birkshire Hathaway shareholder meeting Warren and Charlie shared invaluable lessons and Timeless wisdom I feel good I I don't know what's going to happen that day maybe nothing will happen but maybe something will happen and uh if nothing else I'll roll some tea bills or something but it I work I work with

the greatest group of people you can imagine I mean we we uh we like each other and nobody is after anybody else's job or anything of the sort it's ideal working conditions and It's 5 minutes from my home or thereabouts uh so I haven't spent my life commuting uh I just can't imagine having it having anything better and Berkshire has been paying nobody else in the United States no individual no Corporation would ever pay any income tax Social Security tax GI tax the state tax anything else a thousand like Burkshire halfway would produce the revenue

that's being produced by the federal government That's being derived of the prent tax code from everybody in the United States and I don't feel badly about that and I'd love to get it to what it's 500th or something of the sort done we know how to do it and we actually came from money printing economy in World War II which was required and we suffered significant inflation the price I mean there's a million ways to judge it but maybe 10 times what it was then or something like that well that's That's getting close to the

edge where you don't want to you don't want to hold dollars anymore you want to hold something else uh you want to hold real estate you want to hold an interest in a business there's a lot of good your best your best defense is your own earning power if you're the best doctor in town if you're the best lawyer in town if you're the best teacher in town or even if you're the 10th best or 10 you're going to make a good living you know the Economy is productive and you will succeed with your talents

but you won't succeed by hoarding dollars you'll just be you'll just succeed by the fact that your your value to the community which is a rich Community overall is sustained and uh so the best investment is always in yourself you're Lu if you're in the United States go around the world you don't have a lot of choices some in some places but but you should you should Write your obituary and then try and figure out how to live up to it you know that's that's something you get wiser on as you uh go along the

business mistakes uh you just want to make sure you don't make any mistakes to take you out of the game or come close to taking out of your game you should never have a night when you're worried about uh investing I mean assuming you have any money to invest at all and you should spend a little bit less than you earn And you can spend a little bit more than you earn and then then you've got debt and the chances are you'll never get out of debt I I'll make an exception in terms of of

a mortgage on your house but but credit card debt and we're in the credit card business big time and world will stay in the credit card business but why get behind the game and if you're effectively paying 12 or 14 or whatever percent you're paying out a credit card you know you're saying I'm Going to earn more than 12 or 14% of money and if you can do that come to Burkshire halfway Tom Murphy to the first time I met him said two things to me said you always tell someone to go to hell tomorrow

well that was great advice then and think of what great advice it is when you when you sit down at the computer and screw your life up Forever by by telling somebody to go to hell or something else in 30 seconds and you can't erase it uh and you don't need to Bill ofy anybody to make your point on on on on subject of discussion and and uh and then they give you another General piece of advice I I've never known anybody that was basically kind that died without friends and uh I've known plenty of

people with money that died without friends uh including their family I've seen a few people including Tom Murphy Senior I never saw him I I watched him for 50 years I never saw him do an unkind act I didn't I didn't seem To very many stupid acts either I mean it wasn't he was non-discriminating he just he just decided that um that there's no reason to do it and uh wow what a difference that makes in life Charlie well it's it's so simple to spend less than you earn and invest shrewdly and avoid toxic people

and toxic activities and try and keep learning all your life etc etc and do a lot of deferred Gratification because you prefer life that way and if you do all those things you are almost certain to succeed and if you don't you're going to need a lot of luck a lot of luck and you don't want to need a lot of luck you want to go into a game where you're very likely to win without having any unusual luck I'd add one more thought too I you need to know how people can manipulate other people

then you need to resist the temptation to do it yourself oh yes the the toxic People who are trying to fool you or lie to you who aren't reliable meeting their commitments the great lesson of life is get them the hell out of your life Y and do it fast we we've done various deals various ways the best way to do it is just write people a check and and get the stock but we did that with TTI but what you can't always make the same deal we make we find if we like the business

well enough and the people well enough we we will tailor it differently but our Preference is to write a check and on the whole place and keep the management in place so we are in the perfect sort of game and we both enjoy it and we we have a lot of fun together and and we we don't have to do anything we don't really believe in doing I mean we we are not dictated to by by any group uh and so we get to follow our own we get to forge our own destiny and and

and in a sense for the only principle by which we can run the company and that's A huge luxury in life and and we don't want to be president of any other company in the world or CEO or anything else where we have to conform to certain things that we really don't want to conform to the lessons from Charlie Munger and Warren Buffett continue to guide us towards smarter more principled investing remember it's not just about making money it's about making informed ethical and sustainable choices that Stand the test of time with the passing of

Charlie the next year will be one to watch as Warren navigates the industry on his own if you enjoyed this video don't forget to like subscribe and share it with fellow investors until next time happy investing are you ready to dive into the world of investing but are not sure where to start don't worry we've got you covered today we're unlocking the secrets to successful investing with Insight Straight from the master himself Robert kosaki we will dive into four tips from Kiyosaki to help investors get started so the reason the rich don't pay taxes is

because there's three types of income they'll never teach you this in school the fake teachers will never number one type of the street type of income okay number one type of income is earned [Music] Income that's earned income it's when you work for money it's earned so that earned income shows up here so these are the guys that pay tax so when all the guys are screaming taxed are rich well you can't tax them because they don't have jobs that's abounds it's kind of funny isn't it we going to tax to Rich oh yeah good

luck you know and the second type of Income is portfolio income and portfolio income is from flipping houses or you buy a stock for like $10 you sell it for $20 that's portfolio income okay I don't do that Trump doesn't do that so most guys who are flipping houses and all that buying stocks and flipping through to you're getting this type of income so this this income is about 20% today some of that here but the income that the rich work For is called passive income passive income is also known as cash flow that's the

name of our game cash flow and that income is income that's flowing from here to here it bypasses taxes what some people may not know is that there are different types of incomes you can earn as Robert explains the three types are earned income portfolio income and passive income Earned income is the money you make from working a job or running a business it's your salary hourly wages or profits from your own company basically it's the income you earn by by trading your time for money portfolio income comes from Investments like stocks bonds and mutual

funds when you buy shares in a company and the value goes up that increase is your portfolio income it's money your money makes for you by growing over time Finally there is passive income this is the money you earn with little to no ongoing effort think rental income from properties royalties from books or music or earnings from a business you don't actively manage it's the ultimate goal for Financial Freedom by understanding all three of these incomes it can help you increase your cash flow and allow you to grow your Investments and what's happening for most

people today is you know they follow that age-old Mantra go To school what you learn about money in school nothing get a job while jobs are disappearing not only that is that with artificial intelligence and G5 coming more jobs are going to get wife out plus with driver lless cars more jobs are getting wiped out so why would you go to school to get a job and then work hard for money but pay and pay taxes taxes are going to keep going up sports fans they have to somebody's going to pay off this massive mountain

of debt stacking Up all over the world and the only way they pay off debt is via taxes and then they tell you to get out of debt oh God debt is money please understand me in 1971 when Nixon took the dollar off the gold standard money became debt so the rich know how to use debt to get rich and that's what I do my friend Donald Trump I know some you hate the guy more power to you you know but we use debt as money and other guys will tell you get out of debt

well You choose the rich use debt to get rich and the poor middle class get wiped out because they're in debt that's because of the lack of financial education and then tell you to invest for the long term on a well Diversified portfolio of stocks spot mutual funds and ETFs the key word in there is invest for the long term why would you invest for the long term when they're printing trillions of dollars and Zer zero interest rate policy they're paying you nothing for Your money why is financial education so important well think of it

like this you wouldn't try to drive a car without learning how right the same goes for managing your money Financial education helps you understand how to make your money work for you rather than the other way around with the right knowledge you can make informed decisions avoid common Financial pitfalls and create a secure future for yourself and your family it's All about gaining control and confidence in your financial life remember getting financially educated isn't something you do once and forget about it's an ongoing process the more you learn the more confident you'll become in making

smart financial decisions the first way you understand risk is you look in the mirror it's who's looking back at you you're the risk not the investment for example I invest in lot of real estate and say oh Real estate is so risky so I think I'll buy ETFs so you play it safe but but you'll learn more by investing in real estate right CU you'll make more mistakes yeah so that's the difference there so it's not real estate that's risky it's your risky yes all Investments carry some risk but not all risks are created equal

there are ways to manage and even minimize these risks and imagine you have all your money in one stock and it Suddenly tanks scary right but if you spread your money across different types of Investments like stocks bonds real estate and mutual funds you reduce the impact of any single Investments poor performance another important thing to understand is that investing is like planting a tree you don't expect it to grow overnight historically the market has shown to recover from downturns and grow over the long term so if you're in it for the long haul You're

likely to see positive returns so the reason I say only lazy people use their own money is because it takes much more intelligence to raise capital and so I've never been able ever since my Rich Dad since a little boy my Rich Dad forbade me from ever saying I can't afford it he says figure out how you can afford it how can you do something figure out how you can do something so over my lifetime most of the projects I I've started I I've never had any money I I like not having money because it

forces me to think I get creative I have to educate myself I have to talk to Rich guys how'd you do this how' you do that how' you do that and what has happened to me and I just turned 72 I've never needed money investment opportunities can pop up at any time whether it's a promising stock a real estate deal or a new business venture having access to Capital means You can seize these opportunities when they arise raising capital is also essential for scaling up your Investments if you've started small and seen success additional funds

can help you expand your Investment Portfolio and increase your potential returns some ways you can raise capital is by getting loans starting a partnership with another person or company investing some of your personal savings or even reinvesting your returns before making Any investment decisions it's important to do your own research and consider seeking advice from a trained Financial professional we hope you found this video informative and inspiring as you embark on your investing Journey remember with the right knowledge and mindset investing can be a powerful tool for Building Wealth and securing your financial future what

was your favorite tip from today's video make sure to comment below And like And subscribe to the channel to keep up with our latest videos Our Lives don't get better by chance they get better by change change is one of the necessary laws of Life remember this action and adaptability create opportunity adapt and overcome and watch everything change before your eyes [Music] adaptability isn't just some secret for survival it is the power to build the Future adaptability is the capacity to be modified for a new purpose to be moved this way and still punched through

targets and reach my goals and be everything I've been called to be but I've got to adapt to the times adaptability requires movement adaptability requires growth adaptability requires wisdom and knowledge and understanding and Revelation and awareness we've got to be able to recognize when we're outdated When we need an upgrade when we've got to go to that next level and I can't be embarrassed about it adaptability is not buckling Under Pressure adaptability is understanding that in order for me to have this lifestyle that I see in my head I'm going to have to raise my

standards this is an adjust this is a modification that in times past this version of me was good enough but it only got me where I am and in Order for me to go to that next level something inside of me has to change so when you face storm when You Face adversity when You Face trial when You Face tribulation in the eye of the storm in the middle in the core of your Devastation when you are faced with opposition that's when you raise the he you don't change your message you change your methodology are

you understanding me adaptability is not buckling Under Pressure adaptability is not losing your Moral compass adaptability is raising your voice and so the harder life hits me the harder I'm going to fight the harder I'm going to believe the harder I'm going to keep pushing I'm going to keep going I will persevere and I'm going to build resilience and so the harder life hits the stronger I get you've got problem solving skill you've got a resilience you have a determination you have a measure of commitment that nobody in the room has Because you've been able

to adapt and for many of us we are in the halftime of our destiny and if you're going to win you are going to have to make the adjustments the necessary modifications to have your future when I become more flexible more agile more adaptable another thing that happens is that we build our inner resilience and this isn't just about honing in on your problem solving skills but resilience literally changes your Brain it changes your operating systems it shifts your behavior resilience empowers you to build new habits it's not running from your programming it's upgrading it's

taking it to the next level the ne necessary growth strategies necessary modification personality adjustment attitude upgrades the necessary the wise adapt themselves to the circumstances like water molds itself to the picture to understand the revelation of Adaptability is to realize that life is lived on levels I've got angles I've got approaches that Destiny is in the details it's how how I see this thing it's how I can adjust my thinking it's how I can upgrade my inter software at some point you got to sit back and think to yourself you know what I've been here

too long I've thought like this too long I've hurt too long I've been fractured long enough I've been depressed long enough you know what I've been here too Long it's time for me to go we all have to get here where we realize we have not not adapted to the current times and this is not a departure from authenticity this is not losing yourself this is finding your next level the question is are you willing to adapt adaptability is the bridge to the future I need to be able to adapt cognitively I got to be

able to adapt emotionally my personality my behavior my language my thinking I've Got to be able to adapt and it is only when I'm willing to accept this reality that I can have my future when I become more flexible more agile more adaptable another thing that happens is that we build our inner resilience and this isn't just about honing in on your problem solving skills but resilience literally changes your brain it shifts your behavior it's time to break through you've lost long enough you've been in your learning Season long enough it's time to apply what

you have learned adaptability is not buckling Under Pressure adaptability is not losing your moral compass adaptability is raising your voice you got to start thinking about the future you've got to start thinking about sustainability you got to start thinking about future Generations your perspective how you see this thing how you approach this thing you're the angles that you take the approaches the Mentalities just one little tweak in the game and there is a future for your family and and and and this is the power of understanding that if I can make a few tweaks if

I if I can make a few adjustments if I can see this thing just a hair differently winner by hair have you ever heard that there are champions that win by hair because they made an adjustment there are golf players and basketball players and football players and soccer players and Fighters and Warriors and NASCAR drivers and champions and lecturers and teachers and students movie directors and artists and people all over the globe who have made adjustments who have adapted to a circumstance who have adapted who have modified and tweaked their game and beat on their

craft and got the trophy this is why there's power in mentorship because a mentor will show you something you didn't see a coach will pull something out of you that you never knew Was there the ability to adapt to make a tweak to make an adjustment it's the group of employees that's been called to work two more hours it's the team that's been called to win a championship in the snow or rain or sleep or the weather's changed or now all of a sudden the crowd is no longer cheering your name can you adapt this

is the question this is the golden ticket everybody wants to win and everybody wants new zip codes and area codes and everybody wants impact and Influence but if I don't have adaptability I'll never have my future [Music] [Applause] [Music] [Music] [Music] [Music]