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"If you went broke today, how would you start over?"

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I made some mistakes before I started

following your content and like an idiot

I started three businesses. So I have

three businesses. I'm exiting

three wives.

I know it's a problem. So the main

business which is my primary source of

revenue, me and my partner very much not

on the same page. I'm transitioning and

exit right now. I have a large eye out

coming and I'm trying to decide do I

redo that same business? I'm good at it.

It's my primary source of revenue. Or do

I pour into one of these other two businesses?

businesses?

What's the business you're selling? So,

I have been in financial services. Um,

okay. Great business.

Yeah, I was the top producing rep, like

number two out of like 3,000 reps.

I'll just tell you right now, do that.

If you're two out of 3,000, you're not

even 1%. You're like 0.1 whatever

percent. And so, these other things

probably sound really sexy and

interesting. You can tell me what they

are and I'll tell you that they sound

sexy and interesting.

Well, so I guess my problem was is like

I've got a non-compete non solist. I

have to re relocate.

So, it's like I have to move 60 miles

away. My whole network has to

So I'll have about a million bucks

probably when it's all said and done. So

I have, you know,

you have to move to a new location.

So I if I want to not take a like

three-year hiatus, I have to move 60

miles and I'm very regional in my my

business. Like all my local it's all

local, multif family, habitational, like

so if I move

But you knew how to build it.

Yeah. But it was a six-year process to

start all over again, I guess, is where

where my brain goes is like,

but don't you think you can do it faster

the second time?

Oh, for sure.

I can do it in third of the time. So,

yeah. So, you're 24 months away from a

brand new business, the same thing you

do right now, except you know all the

lessons you learned.

So, just go for it. And

what are the other two? Just so I can

So, yeah. No, I I've got Well, I've got

a real estate portfolio and I I feel

like I'm really good at real estate,

too. But the problem is capital, right?

Like I can buy bye-bye. But yeah,

cuz insurance did that and create all

the deals through a network, had all the

contractors and it like they fed into

each other really well, which is why I

started it.

But um the problem is like then you were

like well hyperfocused and I'm always

like well

I don't think you'd need to stop real

estate. I mean like I own a bunch of

apartment buildings it but like it's

just not my main game. Like I've got

some money that I'm like this is my like

if I go become a [ __ ] vegetable like

there's cash flow for everybody. Um but

like what's my main game, right? And so

I want to make sure that you're not like

trying to make your your side hustle

your main hustle.

Okay? Because the returns on real estate

are not as good

as the returns in business. Period.

Private equity owners are by far much

wealthier on average than than real

estate. Real estate makes more

millionaires. Private equity makes more billionaires.

billionaires. Yeah.

Yeah.

So low risk, high likelihood business

once you gain the skills is always where

all the upside is. All right. What's the

third one?

So well the third one I did the same

thing again where I was like I started a

junk removal company to feed more leads

into the real estate because I was like

and it does. So then but then it's like

how far

can I move horizontally before I'm

losing that vertical integration cuz

it's like hey it does provide leads and

flips that feed into the real estate and

finds deals. So it's like

and you find old ladies and they've got

money so you do the financial services.

It works great. We're just

and part of my question I think is how

lateral can I get inside that vertical

before I'm losing focus where it's like

you're already losing focus.

I know.

So do I just sell it and dump it? I mean

what do you do? So, I will give you the

unpopular advice that I would give

myself. Um, which is like, do you

believe you can win? Yeah.

Yeah.

Then [ __ ] it. Do the thing.

Do the main thing. Forget the other

stuff. Basically, on some level, doing

these side hustles is almost like a

hedge against your own risk. But you

incur more risk because it decreases the

likelihood the one sure thing actually

is the sure thing. And so, when if I gun

to your head, I was like, you have to

make money. What would you do?

I'd sell insurance.

Of course. Then do the thing that you

would do when you need to make money and

you will make money way more. Okay?

Okay?

I'm only saying that because I have done this.

this. Yeah.

Yeah.

I had a dental agency. I had a

chiropractor agency. I had a gym. If I

went out of business tomorrow, like my I

had a some $100,000 bill. What would I

do? I'd launch a [ __ ] gym for sure in

my sleep. I know that's what I would do

because I can do it in my sleep. So then

I had this brilliant idea. She's like,

"Why don't we just do that thing that

we're really good at over and over again

and just not do the stuff that we suck

at?" And I was like, "I don't know if

that's going to work.

I was like, "What if these other ones

take off?"

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Transcript YouTube:"If you went broke today, how would you start over?"

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Transcript YouTube:
"If you went broke today, how would you start over?"