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The Money Making Experts: This 3-step offer formula makes $20,000 per month!

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I've got three boxes here. One of them

contains $1,000. One of them contains

$10,000. And one of them contains

$100,000. And you three are the avengers

of entrepreneurship on the internet. So,

you're going to tell me what you would

do with that amount of money to build a

scalable business.

>> So, do I get to give the money? Is that

how this works?

>> Okay. So, I would three highly

successful entrepreneurs with three very

different perspectives. This is the

ultimate master class in creating and

scaling your businesses to make

millions. There's two paths to making

money quickly if you don't have any. And

the first path is go find the best

entrepreneur and go work for them. Learn

as much as you can.

>> Totally agree. Like Kim Kardashian was

Harris Hilton's assistant and she

learned the playbook for being famous.

And then she took it to a new level.

>> And then the second way is high risk but

highest reward. Go do it yourself.

>> And the first business that you start,

you're going to be learning the game of

business even more than you're learning

the business that you're doing. Things

like if you wait 8 seconds after you ask

someone to buy, you close 30% more

sales. And there are actual studies now

that show that if I'm a woman, you make

more money if you do one thing. You wear

makeup, which is wild.

>> And what about making content?

>> Building a content empire that builds

your business. This is brand new to a

lot of people. And so a lot of creators

online don't think about how do I

monetize on top of this,

>> right? And I can name some Tik Tokers

with 50 plus million followers that have

had failed launches because they have

views but they have zero influence. And

in order to create influence, there's

four things. So number one is

>> okay so let's go on to simple actionable frameworks.

frameworks.

>> So I have a framework in order to raise money.

money.

>> I have a framework for pitching

>> and I have one that can increase sales

by 20 to 40%.

>> And then if you want to know if your

business is going to make you money or

not. We use the moat strategy

>> and there's a lot more. So let's go

through all of this.

>> I see messages all the time in the

comment section that some of you didn't

realize you didn't subscribe. So if you

could do me a favor and double check if

you're a subscriber to this channel that

would be tremendously appreciated. It's

the simple, it's the free thing that

anybody that watches this show

frequently can do to help us here to

keep everything going in this show in

the trajectory it's on. So, please do

double check if you've subscribed and uh

thank you so much because in a strange

way you are you're part of our history

and you're on this journey with us and I

appreciate you for that. So, yeah, thank you

you [Music]

[Music]

Daniel, Cody, Alex. I feel like I have

waited a long time to have this

conversation with you three because in

my mind you three are the avengers of

entrepreneurship on the internet and for

very different reasons. You do very

different things. You have very

different perspectives. You run very

different businesses. But that is why

I've been so looking forward to this

conversation. Before we get into some of

the technical stuff and really specific

topics, I wanted to start with a more

broad question. You're all

entrepreneurs. you will speak to and

educate millions of entrepreneurs on

your own channels in your own rights.

And the question I wanted to start with

is from a psychology perspective and a

mindset perspective,

what does it take to be an entrepreneur?

And can anyone listening to this right

now become an entrepreneur, a successful

entrepreneur? I'm going to throw that

question across the table straight away

to Alex. So starting with the second

question first, can anyone become an

entrepreneur? At the basic level, if a

kid can go around the neighborhood and

say, "Hey, I will mow your lawn or I'll

rake your leaves or I'll babysit your

kid uh in exchange for money."

Fundamentally, it's entrepreneurship. If

we're just taking it at the most basic

level and so what prevents someone from

doing that, basically, if you can get a

job, then you can be a self-employed

entrepreneur. And so I would say that is

like my baseline number one from a

behaviors perspective. Then you get

into, okay, I want to learn about the

game of entrepreneurship. And then there

it's basically a lifelong journey of how

much leverage can I apply to this um at

all all pieces of the business because

even going around knocking on a door and

saying hey can I be a babysitter you

have all levels of business all all

functions of the business still exist

there. They're just done a lot of times

simultaneously and at very low leverage.

So you have some level of advertising

you went up you knocked on a door you

have some sort of presentation that you

give in exchange for money and they

agree okay great we have a selling you

know component to it. Um, then we have

some sort of delivery that's going to

happen, which is like I might show up

with my human body and then take care of

this other human body and make sure they

don't die, right? And probably have a

couple other things that I might clean

the house while I'm here as a little

value ad. And then fundamentally, it's

like that's a complete that's a complete

cycle of exchange. And then, you know,

maybe they leave a review because you

start have a website, but that starts to

create leverage and then then you expand

from there. But I think fundamentally at

the most basic level, that is

entrepreneurship. And then everything

else is just more. >> Cody,

>> Cody,

>> you can be an entrepreneur if you're

willing to tolerate pain. I I think

being an entrepreneur is largely a

byproduct of three things. One being how

much pain can you tolerate? Two being

how consistently and three being can you

take the consistent pain that you have

and find a way to decrease it which just

means can you learn from the things that

you've gone through as an entrepreneur.

By and large it is a hard path because

uh at the end of the day you can't blame

anybody else and there's a scoreboard

constantly behind you. And so, you know,

if you if you have a job, it could be

the boss. It could be the other

decisions. It could be somebody else's

fault. But if if you are the

entrepreneur in charge, there's nobody

else. And the thing that I love about

entrepreneurship, and I think all

entrepreneurs love, is you either win or

you lose. In a lot of ways, it's a zero-

sum game. And it's measured

predominantly by do I grow my profits

and and revenue in the way that we set

up this the system today. So, yes, I

think anybody who is willing to tolerate

pain can become an entrepreneur. And I

think it's actually okay to have pain in

your life and you should seek it a

little bit. The same thing as the gym.

We don't go in there and think it's

going to feel great to have a workout

and have our muscles literally rip apart

in order to rebuild. And yet that's what

it takes in order to get more fit. And

so um I think part of the game of

entrepreneurship is just like can we

increase pain tolerance over time

consistently? And once you do that, then

the things that used to be hard today,

you'll look back on and you'll sort of

chuckle because they will not be hard

any longer.

>> So there's various types of pain in my

life that I'm not willing to tolerate.

And there's other types of pain that

I've like volunteered to choose over

long periods of time. So I'm trying to

understand, and this is just a question

to all of you, we'll get into Daniel

straight after is

>> how do I know what pain is worth

tolerating and over a long period of

time? Because some pain is not good

pain. some pain is not worth it. How do

I know what pain is worth it?

>> Well, I think that's what comes into

that third level of you have to be able

to be on a a journey to decrease the

pain, which is learn. Like that's what

learning means. Like you try something,

you touch the stove once, you realize

that the stove burns you when you touch

it, you don't do it again. If you

continue to touch the stove continuously

over time, then you haven't really

learned. Um, but you know, I mean,

there's lots of different types of pain.

There's acute pain, which is like you

feel it in this moment really, really

deeply and intensely. And that in

entrepreneurship often is things like

I've completely run out of money. Nobody

is going to fix this problem. I'm the

last one on the line. And then there's a

type of pain that is low-grade pain. So

kind of consistent over time. I have to

work harder. Every single Friday there's

a you know a paycheck that I have to

give somebody else. That's sort of

consistent pain. And I think in

entrepreneurship we should assume you're

always going to have some version of

lowgrade pain.

>> I had pain when I worked in the call

center and I have pain now. Did you have

acute pain when you worked in the call center?

center?

>> It was just drudgery and boredom and so

you are out of alignment. So when you

have an origin story, a mission and a

vision and you feel an alignment between

your past, your present, your future and

you feel excited about the future that

this is working towards then the pain

becomes meaningful.

>> And what you're looking for is pain that

is in alignment with origin, mission,

and vision.

>> So meaningful pain,

>> meaningful pain.

>> What do you think? What do you think

about that same question about can

everybody be an entrepreneur? And what

does it take from a psychology

perspective? I'm I'm asking this

question because there's people at home

that are going to wonder. They're

they're in a job at the moment. They're

pondering a lot. They see people like

you three who seem like you're a million

miles away. >> Yeah.

>> Yeah.

>> But you didn't start a million miles away.

away.

>> So, what does it take to be successful

at the highest level

>> in the comments of every one of these

videos is not everyone can be an

entrepreneur. Not everyone wants to be

an entrepreneur. Interestingly,

uh the idea of a job is a very recent

innovation if you take a long view of

history. Uh jobs really only came into

existence around the 1850s. the idea of

a wage. Prior to that, people got paid

for tasks and essentially you completed

a task, you got paid and all sorts of

levels of society and that gave rise to

very entrepreneurial classes of people.

Uh you had to be quite entrepreneurial

prior to the 1800s. So it's definitely

built into us. I personally think that

the human brain has three kind of

levels. The base level is very concerned

with survival. It's fight, flight,

freeze, freak out. The next level up is

just interested in status quo and it's

interested in repeating the past and

doing what's safe and just doing what's

comfortable. And then there's this other

part of us that is a visionary and it's

interested in exchange. It's interested

in empathy, strategy, love, compassion,

adding value to others and it's it's a

higher mind. It's a higher way of

thinking. Unfortunately, what happens in

most of society, especially with a lot

of um social media and especially with

the way we were raised through the

schooling system, is that we keep get

just getting dragged back into the

autopilot and the reptile brain. Uh as

opposed to being able to have a little

bit of time for the visionary and it's

that visionary mind that makes you feel

very entrepreneurial. I have seen people

who have never had a business. They've

never been entrepreneurs and they get

around a group of entrepreneurs and the

buzz and the energy from that group of

entrepreneurs becomes contagious and

they start opening up this other part of

their mind and they go, "Oh, wait a

second. I've got an idea. I could do

this." And they start thinking about

what's possible. And I've watched people

go from I could never do this to I could

totally do this in a day.

>> Alex, you wrote something down there. It

was when you were talking about, you

know, what kind of pain, you know, is

there? And I think there's a a classic,

um, example of when do I push and when

do I pivot? And so, um, pivoting comes

from, at least from my perspective where

you have an underlying assumption that

your original thesis was based on that

has been disproven. So, if I say, hey, I

want to start, you know, um, a doggy

toothbrushing business,

>> um, you know, there's an underlying

assumption that people are willing to

pay for their dogs to get their teeth

brushed, right? Um and within the

context of like I have presented this in

a way that follow the normal persuasive

you know taxes of uh you know this is

the benefit you know these are the these

are the prices that I would need to

charge in order to make a profit etc. If

I find out that no one cares about this

then that would be a moment where I

would say I don't think you should push

harder I think you should consider

pivoting. The pushing scenarios is

typically when your underlying thesis is

still is still true. You have not

invalidated that and so you just haven't

figured everything out yet. Um, and most

of that is where the pain comes in. Um,

that that Cody is referencing. Now, I

think the third door where it gets

really tricky is that there's

opportunity cost. And I think this is

where most entrepreneurs get trapped.

And in some ways, rightfully so,

because, you know, it's very, very hard

to build a successful restaurant that's

local. And if you want to be a

trillionaire, it's probably not the way

to do it. And so, what happens is you

develop skills, you know, developing

your first opportunity. You figure out

how to do doggy toothbrushing. and you

find out that people don't actually care

as much about brushing their dog's

teeth, but they do care about their dog

having good breath and being, you know,

clean and groomed or whatever. And so,

like, so you pivot a little bit and then

you're doing this thing, but then you

have these big aspirations of being a

trillionaire. And you're like, I don't

know if I can turn this into being a

trillionaire, but I did learn how to

market. I did learn how to sell. I did

learn how to manage. And then you think,

okay, well, should I start an AI startup,

startup,

you know what I mean, as my next thing

because I did develop all these skills.

So, now what do I do? Right? And I think

a lot of people are in uh maybe you know

one step later entrepreneurs are in this

camp where they're like okay I didn't

understand the world as well. Now I

understand different opportunity

vehicles have different returns but also

risk associated with them. All of them

require pain and work. And so if pain is

basically I can only interpret pain as 1

to 10 and 10 out of 10 restaurant days

will still suck as much as 10 out of 10

AI software days. But this one has a

billion dollar payout and this one has a

$2 million payout. Well, if I'm going to

suffer either way, I might as well do

the thing that gets me the best return,

which is good entrepreneurial thinking.

But then so is focus and so is

longevity. And so then what do you do,

right? And so um and so I I I just

thought about that from a pain

perspective because you have a lot of

times the pain happens from insufficient

volume. Like you think that this like

this business isn't working, but it's

realized it's usually because you're not

working enough. Um and when I say that,

I mean doing enough in it. So it's like,

hey, I knocked on 20 doors and like no

one wants this. It's like, well,

obviously with 20 doors, you have no

[ __ ] idea if somebody wants it or

not. It's like knock on 2,000, you'll

probably get a better idea. And so, but

most people like have never had

rejection before. And so, they think 20

is a sufficient amount. Um, or like,

hey, there's no good there's no good

engineers in insert city. It's like,

well, how many did you interview? You'd

keep talking and eventually it's three.

You're like, okay, well, no [ __ ] I

mean, if you're going to marry somebody,

do you think you'd only go on three

days? And then you just say, I guess I

have to pick from one of these. So, it's

probably not a good idea. And so, I

think the same idea of insufficient

volume is one of the things that can

that can create pain, you know, for

entrepreneurship. you have opportunity

cost of like, okay, well, now there's

the green, the grass is green over

there. Should I stop what I'm doing now,

right? And then you have kind of

underlying thesis, which absolutely if

you have your underlying thesis for the

business that is disproven, then that's

one of those times where it's probably

worth pivoting. But for anybody who's

listening who's a newer entrepreneur, my

my big my ask to you would be I probably

wouldn't start an AI uh startup caveat

as my first business. And what I mean by

that is like if I as in building an

actual tool now if you want to like

implement AI using other people's tools

that's a different thing but the first

business that you start you're going to

be learning the game of business even

more than you're learning the business

that you're doing. And so then once you

learn the game of business then you

start to see kind again you start to see

more clearly the opportunities that exist.

exist.

>> The next step for me in what Alex said

was about how do I know which idea is

worth pursuing. Alex was saying there

that which I completely agree with is

that the first thing you do is actually

teaches you the fundamentals of how

business works, team building,

marketing, promotions, customers,

customer service. But for those people

that are sat at home and they have an

idea and they're mulling whether that is

the idea worth pursuing, is there a

framework for knowing if it's a good

idea or a bad idea?

>> What we use that comes from private

equity. If you want to know if your

business is going to make you money or

not or investable or not, we use the

moat strategy which is basically M

stands for margin. So you want a

business that actually makes you money,

doesn't just generate revenue. And so a

good business typically has at least 15%

net margin. So that's the money you put

in your your pocket, right?

>> So that's profit. >> Yeah.

>> Yeah. >> Yeah.

>> Yeah.

>> Exactly. And then uh the O stands for

operations. So operations being can this

thing actually scale over time or will I

really have a job not a business?

>> And what's the difference there? The

difference between the two is if you

have a job not a business that might be

for instance without AI if my entire

business was just me talking

continuously to camera and I'm an actor

it's really hard to turn acting to a

business right

>> you're trading time

>> right you're still an employee you're

just self-employed as opposed to a

business owner and there's a real

difference between a CEO and a

self-employed person and then the A

stands for advantage which is do I have

an unfair advantage in my business I

think over time all arbitrage windows

close so if you don't have some sort of

advantage antage. It's hard to stay in

business over a long time. An advantage

might be I have distribution because I

have social media so I can get more

eyeballs. I can figure out how to talk

to 2,000 people quickly because I can do

it via video as opposed to knocking on

20 doors. Or it could be logistics or it

could be uh 10 years of experience in an

industry. And then the T stands for TAM,

total addressable market, which goes

back to the doggy teeth issue, which is,

you know, is this a real market that

enough people are interested in that I

can build a business that is big enough

for me? And, you know, to Alex's point,

I don't think everybody should try to

play the trillion or billion dollar uh

game. In fact, I think it can be quite

miserable to to strive for billions. And

so the the total addressable market for

your local fruit stand in your community

may be a perfect amount of income for

you, but let's actually know what amount

of income is reasonable for you. And the

cool thing about entrepreneurship in

like today's age, the data is available everywhere.

everywhere.

>> And so in private equity, you would take

this model like that. So you'd go moat,

you would I take them and for each one,

I rank them one to 10 and businesses. So

margin, operations, advantage, total

addressable market. each one of them. A

10 is perfect. A one is the worst you

could have. And businesses that are

better than 30 across all four, well,

that's a fund it. That's a fundable

business model. Businesses that are less

than 30 but more than 20, that's a fix

it. You've got some problems in the

model. And businesses that are less than

20, that's a flee it. This is probably

not right for you and a hard business to do.

do.

>> I think it's not just the people who are

looking for a new opportunity or people

who don't currently have a business. I

personally think at the moment every

single person on the planet who has a

business should assume that their

business is on borrowed time because AI

is going to disrupt everything and in

that disruption everyone has the

opportunity to rethink whether they want

a different opportunity or whether they

want to pivot. It's the perfect time. I

look at simple things when I'm thinking

about is it a good opportunity. I think

every good business is built upon

somebody's case study. So when I look at

not just businesses as a thing on their

own, I think businesses as a thing on

their own have to be taken in

consideration with who's the

entrepreneur. So your entre like

something that's a great opportunity for

Cody may be just a disaster for me and

like and likewise.

>> So I'm looking at the background of the

entrepreneur. Do you have a case study

to leverage? Do you have knowledge? Do

you have a network? Do you have

resources? Have you got a reputation in

something? Because those are the things

that we can then leverage. And then I'm

just going to have a look at three

little things. I'm going to say this

idea that you've got going forward.

Does this address someone's pain? Right?

Is there some sort of problem that this

solves? And that to we could measure

that, right? Because people pay to move

a metric. They love to move some sort of

a number. So, is there a pain that we

can measure and can I take people out of

that pain based on my story?

>> The next thing is does that type of

person who I'm going to solve that for,

do they have money to spend? Because

ultimately 60% of all the money is in

the top 10%. So the top 10% have about

60% of the available disposable income.

So groups that t tend to have money is

business owners, executives, people

who've got accumulated wealth. Um you

know, so you're looking at like some

sort of indication that you're selling

to a group of people who have money.

Underneath that top 10%, Amazon's

already got them, McDonald's has already

got them. Like that's a saturated part

of the market. You looking for that top

10% who've got disposable income. And

then the final part is passion. Like are

you passionate about this? And my

definition of passion is a willingness

to suffer. So it's not do you get joy

from it, not are you super happy from

it. It's are you willing to suffer for

this? Are you willing to have delayed

gratification um would an objective

third party who looks at your behavior,

who looks at the way that you show up in

the world, would they agree that you

seem to be willing to push through

difficult times in order to have this?

So those are some of the conversations

I'd have with anyone. And not just

people who are starting out, people who

have already got a hundred million

dollar business.

>> It's like the adult marshmallow test basically.

basically.

>> Yeah. I think Cody had a had a great

framework in terms of thinking about

this from an investing perspective for

the people who are considering starting

their first business. I like the pain

passion profession angle of like

typically it'll be something that comes

from a personal pain that you overcame

whether it's you had an eating disorder

or you have kids who have allergies and

you figured out how to pack lunches or

you figured out how to store stuff for

twice as long because of some unique

thing that that you retrofitted a cooler

with. whatever some passion which is

just like a hobby that's that's you're

deeply interested in or it's a

profession so something that you already

currently do like in a way this is I

think one of the easiest self-

entrepreneur you know self-employment

path is just going from employed to

self-employed doing the same thing that

somebody already pays you for

>> so like you don't need to worry about

like market risk of like I wonder if if

accounting is still going to be desired

by other people like right now because

everyone's so interconnected like remote

work and being able to be fractional

like many people can start kind of mini

consulting businesses doing, you know,

because a lot of businesses and

entrepreneurs are very um bad at

allocating resources. And so they have a

lot of quote full-time employees that

are working 20% of their effort and

still keep, you know, keeping their

paycheck and at the end of the day like

they do enough to keep their job, but

not so much that they are nearly at

their full discretionary effort. And so

all of a sudden you think, okay, well, I

could probably do the same work for half

the price and the entrepreneur be

willing to pay it, but I could do that

same work for half the price for five

times the people and make three times as

much and do it on my own time. And so

that becomes I think a great like foray

into entrepreneurship. Now what do you

have to learn there? It's like well you

already have delivery down because you

already do the job. You just have to

learn how to promote. It's just like how

do you reach out to people and ask them

if they want what you have and then get

them to trade you money for it. Um but

that like at least takes half of it out

of the equation. And almost all three of

those pain, passion, profession, you

already have kind of the back end. Like

you have the pain, you figured out the

thing. Uh the passion, you've already

spent all this time loving this thing.

So you've already done a lot of the the

work and research. And so really you

just need to learn the front end which

is like how do I promote and how do I

sell, right? how to get someone to give

me money for it. And then in terms of um

how much money you make, I think Dana

had a great perspective of like, you

know, sell the rich, like they're the

ones who have the money. And if you uh

sell rich people, you get to sell at

rich people prices, which is more fun.

Uh and so I mean, I'll give you a simple

example. Um I have a CRO company that

that we do a conversion rate

optimization across our sites and our

portfolio. And so if that company go

works with an e-commerce business and

they, you know, add 10% to, you know,

topline and goes from 1 million to 1.1

million, they make $100,000 of value. If

they work with an e-commerce business

that's doing $100 million a year and

they do the same exact work and they add

10%, they add $10 million a year. So

it's a hundred hundred times more in

terms of value that's being created. And

so fundamentally, you have the value

they create, your ability to negotiate a

slice of that pie, how unique that is.

As in, for example, I could have plenty

of sales guys are like, "Hey, Alex, I

could sell millions of dollars of stuff

for I'm like, "Yeah, but so could every

other salesperson." So, you have

significantly less uh you know,

negotiating power even if you have the

negotiating skill just because many

other people can do it, right? And then

the third the the final component is

risk. And that's the one that I would

multiply everything by, which is how

much risk you take on.

>> People often say this idea of selling to

the rich, but as you explained it there,

what what it actually sounded more like

is sell to the person who's going to

yield the most returns from your skill.

>> And I I reflect on this because I spent

the first half of my career doing social

media marketing. Yeah. I think I said

this when we sat down that I used to

work with fast fashion companies or

fashion and the net return

>> of me selling them all dresses was tens

of thousands. I then left that business

and spent two years working in

psychedelics in the biotech industry

where if this was around the g the meme

stock thing where if they could

galvanize people on social media to care

about their stock the upside the swing

was billions of dollars. I was the only

employee in this biotech firm that ended

up listing on the NASDAQ for $3.2

billion. And so their remuneration to me

for the six months contract was many

many many many many millions. >> Yeah.

>> Yeah.

>> Because they they made billions.

>> So for me they they thought they were

ripping me off. >> Yeah.

>> Yeah.

>> And and I think about funnily enough

when you put the same company on

different stock markets

>> the the company is worth wildly

different. And I think the same about

our skills where think about the stock

market where you're trading your skills.

>> I've got a I got a small example of that

really small example. There was a guy

who we worked with who was an

occupational health and safety uh

consultant and inside the workplace in a

typical office he would charge a couple

of grand a day

>> uh to go in and it was about 10 days so

about 20 grand to do an occupational

health and safety. And I asked him the

question, "What is the most dangerous

workplace you've ever worked in?" And he

says, "Well, there's this type of

manufacturing that has lasers, freezing

stuff, boiling stuff, lava, you know,

the sharks, you know, the whole thing,

right? Whatever it is, and not actual

sharks, but you get the idea." And I

said, "Do you know how to solve the

problems of that workplace?" And he

says, "Yeah, I absolutely know how to

fix those problems." I said, "Why don't

you position yourself and why don't you

run a campaign that you're one of the

best in the world for that and that

you're actually going to just run a

campaign around that?" Um, within a year

his day rate had gone to 20,000 a day

from 2,000 a day and a typical

engagement had gone up to 400 grand. >> Mhm.

>> Mhm.

>> Mainly because he went from, you know,

the same skill set, but he applied it to

a a much, you know, more valuable

environment. Podcasting is somewhat

similar, you know, because if I podcast

in the UK, the amount of money I get per

view from YouTube is half versus if I do

the same activity, the same amount of

effort, the same amount of hours in the

United States, the platforms pay me

double for the same amount of views. And

I think many of us are like trying to

get a pay rise from our boss or

whatever, but actually thinking about

are you trading your skills on the

highest return market is a great way. We

I used to hire writers at my old company

and those writers would be paid you know

30 $40 $50,000 whatever it was in the UK

when when I was working in biotech and

we were looking for someone that could

write about biotech it was a quarter of

a million the salary it was five times

more for the same fundamental skill of writing.

writing.

>> I think that I think that a lot of times

when you're starting out as a brand new

entrepreneur it's scarier to sell to

rich people. You're like I don't know

rich people. I'm not a rich person. I'm

going to sell to my friends. That is

very normal. That's the people that you

have the closest proximity to. But the

problem is is that means you have to

play the volume game. And the volume

game is actually really hard. It's hard

to get a lot of people to buy your

thing. Incredibly difficult. It's

actually much easier to get a few rich

people to buy your thing. And so, you

know, we had this home inspection

company and I didn't know it at the

time, but

>> he was telling me they were having like

major cash issues in their business. And

uh and I could kind of tell because when

an entrepreneur is under stress, like

you can sort of see it, you know, it's a

it's a a visual thing, too. and he was

about 45 days away from uh running out

of cash. And when I was sitting down and

talking to him, I was trying to

understand his business. Home inspection

has been around forever. It's a

normalized business. This business

works. It functions. It has good

margins. It's a rollup for private

equity. The business model is not the

issue. So, what was the issue? The issue

was their clients and their pricing. So,

he was trying to be the home inspector

for everyone at a lower price point. And

what does that mean? It means it was

actually really hard for him to

advertise because he wasn't niching

down. He was competing with all of the

major players and he had very little

margin because he was competing for

people who couldn't afford very much in

their home inspection costs. We made one

change which is we just said in front of

his business name and in all of his ads

luxury home inspections instead of just

San, you know, San Diego home

inspections or whatever city he was in

previously. And that one change

increased his margins by 45% and they

saved his business. He didn't do more

volume. He didn't hire more people. He

didn't get smarter. He didn't get

better. He just sold to rich people

instead. And because that increased the

surface area that he was covering, so

each house was like, I don't know,

thousands of dollars instead of a couple

hundred bucks to inspect, his business

was saved forever. And so I I think

protecting your profit is so crucial

when you start a business. And nobody

tells you that because it feels safer to

sell things cheaply to people who don't

have very much money. But there's that

old adage which is, you know, try to

work with a $50 client and they will

say, "I need everything under the sun

for this $50 I'm going to give you." And

then go to a $50,000 client and they'll

say, "Why are scent?" And so, you know, so

>> in the beginning, go for the $50,000.

And the last thing I'll say on that is

also when you're a young gun

entrepreneur, a lot of times people who

have money, they got there through

business nine times out of 10. They see

themselves in you as a young hard

worker. You can often get away with

things when you are young working for

somebody who is rich and sees themselves

in you, especially in service businesses

that you just can't at volume when

you're selling to people that really

need that last dollar. And so I think

that's why most businesses go

servicebased business. You trade your

time for money in some sort of way. Then

you productize the service. So now you

make the service so other people can run

it too. And then finally you turn it in

technology software as a service. you

increase your margin at every single one

or your profit at every single one, but

they're the same business. You're just

smarter. You're you're a higher level

entrepreneur when you're able to create

tech around it. And but really all tech

is is process at scale. And so it sounds

scary when you're just starting out, but

it it's it's really just the difference

between 10 years in entrepreneurship and

learning and not

>> I think when you um when you're starting

out, you a lot of times you sell out of

your own wallet to to Cody's point. So,

it's like you have no dollars in your

wallet, so you assume everyone else has

no dollars in their wallets either.

>> And you're so afraid of getting

rejection that you continue to lower the

price until you get here. You hear

people say yes. But just as like a

benchmark for people who are starting

out is that like usually you're

appropriately priced when seven out of

10 people are saying no. Um that's like

about the appropriate price. So if you

have like if I you know see a business

and they're doing 80% close rates as in

like 80% of uh the people they talk to

say yes, they usually have a double or

triple in pricing just sitting there. If

they're at like 60% close rates, they

usually have a one and a half to 2x

price increase that's sitting there. If

they're at, you know, 40 to 50, they've

got a 50% price raise in there. And if

they're right at that, you know, 30-ish

35%, then they're usually appropriately

priced. And if they're at 20, they just

need to learn how to sell better. But

and so, but fundamentally, I say this

because usually, you know, in the

beginning of entrepreneurship, you're so

afraid of hearing no. Um, but the

reality of it is that you need to be

hearing no more than you hear yes to

know that you're being appropriately priced

priced

>> because you like I way back in the day I

had a gym. Um, and I had I can't

remember how many members it was, but uh

I I said that's it. And I decided to

triple my prices, which is a pretty big

move. Uh, we have a recurring membership

base. And so I gave everyone a trial of

the new level of service I wanted to

give. I wanted to go from large group to

semi-private. And um, I tripled the

price alongside that. and I lost

one-third of my customers. Um, but I had

twothirds of the people at three times

the price. And so I made um two times

the revenue and I cut my costs by twothirds.

twothirds.

>> And so I made a lot more money.

>> And it was probably better for your

clients as well. More exclusive experience.

experience.

>> 100%. And it was like right as I was

beginning to learn how like pricing uh

worked with profit in a business. And so

it and by doing that tripling in price,

it didn't like triple my profit. It did

way more than that. And so like when you

have a 10% or 15% margin business, like

Cody saying, if you actually can pull

off a double in your pricing, it'd be a

6x or 7x increase in profits.

>> So there's a lot more sensitivity to

that price number. What's interesting is

that it's really just like, you know, a

lot of like, how do I raise my price?

It's like you do the exact same thing

you normally do and then right when

you're about to say the number, you just

add a zero and then and then you just

act the same. Dan Kenny had this great

quote. He said, um, go as high as you

can without cracking a smile. Uh, and I

think that's usually a pretty a pretty

decent place to start. Yeah. And if

nobody is giving you push back on

pricing, that means you're too cheap

immediately. Like I mean value metrics I

think are so un listen the thing is like

if you're a serious business person, you

want to make more money, pricing is

going to be really interesting to you.

If you're not a serious person wanting

to make a lot of money, pricing seems

like such a boring conversation. This

will never go viral on the internet

except for people who actually are in

the game of business and they understand

that pricing save saves businesses. And

the the thing that I learned that I

thought was like wrong at first, and I'd

be curious if you guys were the same. I

thought it was wrong to charge different

people different prices. I was like,

"No, no, everybody gets the same price.

That's the right way to do business."

And then I realized there's something

called value metrics, which is basically

your prices should be a representative

of three things. Usage, so does somebody

use this service a ton? Then you should

charge them more. Do they have a lot of

users? Do lots of people use it on their

behalf. Or then finally, uh, value. How

much value do they derive from it? Do

they make a ton of money? Um, you know,

can they have some sort of quantifiable

return? And if you're charging everybody

90 bucks a month for whatever your

service is, you are wasting a ton of

money from a segment of your clients

that would pay you way more.

>> Like Typeform is a good example. I I

started using Type Form, started using

it myself. They charge me $50 a month.

Then I started running tens of thousands

of surveys through there and I put my

whole team on there. Now I'm paying

$1,000 a month. It's the same [ __ ] tool.

tool.

>> Yes, it is. But I'm using it way more

and I've got more of my team using my

account as well. So they're charging me

a thousand just over $1,000 a month

>> and they only had to acquire you which

is amazing. So from acquiring one person

and you're like you know your cost of

good or their cost of goods don't

escalate at the same rate at all. So

that's how these SAS companies get this

80% margins.

>> That's it. When you look at uh this this

little pyramid of customer segmentation,

you get 1% of people who have 15% of the

budget, 9% of people have 45% of the

budget. 90% of people combined 40%.

Right? So when you actually break that

down, you have one person willing to pay

15 grand, you have nine people willing

to pay 5 grand each, and you have 90

people willing to pay 445 each. So you

are almost always better off going I

think the best place for most small

businesses to go is that 9%. And the

reason is the top 1% typically shop on

pedigree. They want to work with the

best businesses out there. They want to

win work with the ones who have won

awards and the ones that have been

around for a long time. >> Relationships

>> Relationships

>> and and through trusted relationships.

>> The 90% they shop on price. They have a

fixed price and they only want to shop

on that price. The 9% shop on passion.

They want to follow someone who's an

interesting uh who has an interesting

new take on things who's putting

together a group who's done some

education or entertainment around it. So

the this 9% I would call that the

affluent niche. And that affluent niche

is really good place to start. And that

9% are the ones that are closest to

moving into the 1%. So you can grow with

a client over time, which we saw a lot.

>> You could help get them up to the 1% and

then then they'll take you and introduce

you to all the others.

>> This was one of the really fascinating

things for me when I was running a

marketing business, which is I think you

you referenced this Cody, which is when

I started the company, I was working

with founders who had a 10K budget and

the amount of times they would call me

because of that 10k budget because that

was do or die for them. And then when we

signed Uber and Coca-Cola and Samsung,

the budgets are massive and they they

call me less.

>> They sign things off quicker.

>> The meetings are easier, life is easier.

And that's just one of these sort of

interesting phenomenons with um with

client services, I guess, and service

businesses generally is the bigger the

budget, it typically it requires the

same or less units of effort to keep

them happy than someone whose life is on

the line because it's their five grand

out of their own pocket.

I think part of that you earn too as an

entrepreneur. I think I mean I'll speak

for myself. I uh you start out selling

way too cheap.

>> Um because you also need the money

because as much as it's like a nice it's

very comfortable for me to say like yeah

you need to add a zero to your price

tag. If I don't get paid for the rest of

my life it doesn't matter.

>> And so I have a lot of leverage and

people can feel that. That's really interesting,

interesting,

>> right? Whereas I mean this is also like

if you behave as if, right? If I behave

as if I have a significant amount of

money, then I tend to attract people who

are going or basically somebody else who

also has a lot of money will recognize

that behavior and say, "Okay, this guy's

a player." And so then they'll be more

willing to do business with me. Now,

it's tougher when you don't have that

and you present that way, right? Which

is so I think that a lot of this kind of

does become earned because like either

you're faking it, which is not my not my

recommendation, or you just do a decent

amount of volume and you realize you're

like, "You know what? can't charge $99 a

month for this. It doesn't make sense

for me. And then you have a different

level of confidence going into this

where you just look at someone, you're

like, I just can't do it for that price.

>> That's the word confidence, isn't it?

>> Yeah. Well, that's how I how

>> does one build that confidence or

portray that confidence when really they

don't believe it themselves.

>> You outwork yourself, right? You do you

do so much volume that um you get bored

of it. Like when you can basically train

out your your affective response or your

emotional response to a given activity,

then at that point I would say like you

are ready. And so whenever I hear

someone, he's like, "How do you get rid

of nerves?" I was like, "You're just not

you haven't done it enough times like

until you're bored and you hate it."

>> At that point, I'm like, "Okay, now

you're ready."

>> Is that what like self-belief is to you?

>> To me, yeah.

>> There's two two types of confidence.

There's a confidence that comes from

repetition. And I think it takes courage

the first 30 times and then you get a

little bit of confidence and then it

takes courage and then you get

confidence. But I think it's like 30

block little blocks of 30 repetitions

and then you get rewarded with a little

bit of confidence upgrade. That's one

type of confidence. There's another type

of confidence which is an abundance of

options. So, let's say you run a lead

generation campaign and you want to get

10 clients and you're hoping to sign up

10 clients and a thousand people

respond. You end up with this with or

without you energy. And the with or

without you energy is I'm going to be

fine with or without you. I'm going to

definitely make my 10 sales. I've got a

thousand leads. I've got 10 sales I can

make. So, therefore, it's out of

balance. Mhm.

>> I I go back and forth on this because

the good thing about today actually is I

think people do less than ever but think

that they do more than ever in

entrepreneurship. And so we have a lot

of mental masturbation that goes on.

I've thought about this a lot. I've

really pondered it. I've wondered about

this. I've worried about it, etc. Right?

I've watched all these videos. I've

consumed all this stuff, but I've

actually done nothing.

>> Keep watching the videos.

>> Like and subscribe.

But you know I if if if I if you take

the quantity advice then what you do

when you try to go get a job let's say

whether it's it's a job uh that that you

have in your business or you're trying

to get an actual job then you just go

and you apply to 15,000 of them. I

actually think you'd be much better off

by applying to five and doing as much

work as it would take to reach out to

15,000 to obsess on those five. And so

even if you haven't done 10,000 hours of

painting uh somebody's house, if you go

and sit down and you sit down with uh

AI, get in front of Perplexity and you

write down, okay, what is the average

painting job cost? What are the problems

that come up with painting jobs? Uh who

are who is the most expensive? Um how do

I upsell them? And you put together a

package that is like here is everything

that you think you need to know

data-wise on this job that I want. Like

you will be the 1%. Nobody preps for

anything anymore to the degree that you

need to execute. And so I don't think

you always have to do the job if you do

the preparation to show that you care

about the job. And just think about it

like how many times have we all had

people reach out to us and they're like,

I want to come work for you or I want to

come get this job and they're like, hey,

can I send you a video of XYZ and if I

do it then then you'll hire me or can I

do a sales pitch for you? You know what

you should actually do? Make the video.

Make the video. Put together an entire

prep document. Put together a strategy

document on why I should hire you. And

make it so that it is almost impossible

for somebody to say no to you because it

shows how obsessed you are in a world of

super curious, uninterested, not that

deep obsession. And I've hired God, I

probably hired 15, 20 people solely

because obsession is rare and competence

is rare. And if you can show those two

things, you can be people who have been

doing it for 20 years. Because I know

many painters. We we own one of the

bigger painting franchises in the

country and I know very many painters

that have all the experience but they

don't know how to properly communicate

it and show the preparation that they've

already done.

>> Let's talk about that because that's a a

function of really sales. I guess that's

sales that's marketing. Um, I was

mulling the other day because I've I've

just hired someone called Harry who's

our new head of happiness in our in

Flight Story. And she and she didn't

just make a seven-minute video. She also

sent the video via unsaturated, less

noisy channels. And it made me think

about this framework of the resonance of

the message and the high signalness of

the medium

>> because as you all know, you're getting

DMs from people that say, "Any jobs

going?" that's like low emotional

resonance and a terrible medium. So I

think of it as like this four sort of um

square quadrant where in the top right

of the quadrant you have message the

7-inute video but then figuring out how

to get it round back past the PAS not

into the saturated inboxes maybe into

the post. I think post is so like

unbelievably unappreciated as a medium

in a world of like laziness where nobody

wants to like go to the post box. you

you're all on the receiving ends of

thousands of DMs and messages a month

and sometimes some of them get through.

Sometimes some of them result in someone

being offered a job or you investing in

their company. So if I'm listening at

home and I'm thinking, okay, I've got

four people here who get thousands of

DMs. What is the secret that penetrates

your your fortresses?

>> I would be careful reaching out to

people who get who have millions of

followers because it's hard for you if

you've never had millions of followers

um or even hundreds of thousands of

followers. It's it would blow most

people's minds just how much traffic is

moving on in the background on any given

day. There are plenty of people who have

10,000 followers or 20,000 followers or

they've got a very successful business.

They don't get a,000 emails a day. They

get maybe a thousand emails a year. So

there's a there's something that you can

reach out with which is called a proof

story which you mentioned. And the

format that I like to use is I did

something special. I recently worked

with a extremely famous uh YouTuber

>> um who has over 22 million followers

>> and we were able to spin out a new business

business

>> um which became very very successful and exitable

exitable

>> um and that business uh got you know 10

million worth of revenue in the first

six months uh and I project managed the

whole thing and I can explain exactly

how we did that step by step. So that

the format is I did something special

with a certain type of person. We got a

great result. Here's what the result was

and here's how I can explain it step by step.

step.

>> And what's in that for me or am I making

the the link?

>> So I'm reaching out to you with my proof

story. Yeah.

>> So I'm telling you this is this is what

I've done

>> and are you asking me for something?

>> I'm saying would you like to know how we

did it step by step? Now the other way

we can do this that works pretty well is

to do this in the public domain. So, for

example, you could reach out by actually

posting a video or a or a post on

LinkedIn or on Instagram or um or on uh

X. And what you can do is have five,

six, seven, eight friends who then jump

in and start commenting on it. Now, for

me personally, if you've tagged me in

something in the public domain and

people are now commenting it, so that

the the the the thing might be I've got

a little bit of advice for Daniel Priestley

Priestley

>> and I go, oo, what's going on here?

Right? And then I see that there's a

public video and I see several people

commenting on it. And then I look at the

video and it's a proof story and it's

really complimentary. I really like your

stuff and here's what here's going and

here's the here's my proof story. And by

the way, Daniel, I'd love to get in

touch. Drop me a DM. I'm I'm going to

check that out because it's in the

public domain >> because

>> because

>> well because it could be negative. It

could be

>> like I don't know.

>> I want to know what the heck's what

what's being said there, right? I I

think the real thing is don't confuse

famous with rich. Like you guys

shouldn't care about us and reaching out

to us. There are people that are richer

than all of us even though we all have

some means as far as I understand. There

are people that are way richer than us

that nobody knows that nobody's reaching

out to that want to give you their

money. And so I think a lot of people

spend time focusing on fame as opposed

to rich. And when you're young, who

cares? Like you can't eat fame. Fame is

not lasting. We will all be totally

irrelevant probably sooner than we even

want to

>> speak for some

>> like and subscribe.

>> Alex will be remembered in 500.

>> So like it, you know, for young people,

I do think sometimes uh because we get

DMs, we think that it's important, but

if you're watching this, you should

really be obsessed with just making

money and then you can be sitting at a

table like this and not worry about, you

know, slipping into our DMs. I mean, the

richest guy that you know probably

started a sprinkler head company, lives

down your street in a big house, and if

you went and asked knocked on his door

and asked him how he made it, and if you

could do a service for him, he would

probably let you.

>> So true.

>> I wouldn't mess around with famous people.

people.

>> The people that gave me my first leg up

in the world of business were no one.

They didn't have followers.

>> They were some guy who had built a

business similar in the city and was now

living out in Monaco, living an isolated

life. It was someone who'd sold some

kind of company was running uh you know

some kind of marketing business but and

they were at that level. They were

probably at the $50 million level in

terms of net worth and they were

delighted to have an email from me

tickling their ego

>> of course

>> and saying that I was reading their blog etc.

etc. >> Yeah.

>> Yeah.

>> It's very exhausting to do the very deep

level of work that you do in order to

get a high level client and then have no

response. Right. That can be that can be

really you know extinguishing from a

behavior perspective. But if you do that

work for, you know, Steven Bartlett and

then you make the post and you say,

"Hey, this is this like I'm a XYZ, you

know, whatever designer and I've worked

with these types of clients and let me

just show you my breakdown of what I

would do. I think his stuff's awesome.

This is just some stuff I would do." And

then I tag you, then I'll probably like

things is enough people will see that

that you'll get it sent to you from

somebody else who you will answer the

response from messenger messaging type

perspective. like somebody whose DMs you

will open will be like, "Hey, I don't

know if you saw this

>> team member."

>> Right. Exactly. Um and you do respond to them.

them.

>> I do. Yeah.

>> And so all of a sudden it's like that's

actually how you can get in, but you

also get all the free exposure of the

work that you're doing. And then another

person who might not be you and it might

be me and saying, "Hey, I like Stephen

stuff too and I thought this was a

pretty good breakdown. Um hey, do you

have services?" Uh you know, in exchange

for money.

>> Yeah. I'm I'm nab that [ __ ] Um, and so

and so yeah, I actually actually really

like that perspective because it doubles

it allows the work that you do for your

lead magnets to basically double as

content and so doubles as promotion. And

so you get you kind of get multiple

bites of the app, which I think is

really uh good.

>> And I think if you do do it though, be

sure you're good because

>> because you know the truth of this

happens all the time with you and I. I

mean there we go back and forth because

people will say online like, I built

everything that Alex Formoszi owns. Can

I come work for you, Cody? Yeah, you

know, I received those emails, too. I built

built

>> He'll have this. He has the same people.

You know, I built everything Cody has.

How? And then, you know, kind of

funnily, I'll be like, "God, I don't

remember that person ever working for

me." Like, did

>> did this actually happen? And so, I do

think this is just a little listen, you

got to hustle when you're young. You got

to do things you're going to cringe

about later. I am so on board for all of

that. But also remember that the world

is small, especially with people. pause

on that cuz I think this is an important

point is all the people that have had

the biggest net impact on my success, my

career in my team, they don't they don't

seem to have time to be telling the

world that they did everything. >> Yeah.

>> Yeah.

>> I mean, Jack is a good example. Jack is

Jack was here from episode one of the

podcast, but Jack in my view is doing

the like least personal branding,

milking the cow, and he's in my view

arguably the most responsible >> Yeah.

>> Yeah.

>> for all of this stuff. And there's

almost this inverse correlation between

someone that works for you for three

months and then builds a personal brand

off the back of that

>> and is on stage claiming, you know, the

success versus the people in the in the trenches

trenches

>> in the circle. Yeah,

>> it's a it's a bit of a side point, but

um one of the things people are so

fascinated by is this idea of passive income.

income.

>> And I think I think they're fascinated

by it because it's a promise of big

returns for no work. And that's you talk

about offers a lot. That's like the

perfect offer. >> Yeah.

>> Yeah.

What what's your what's your thoughts on

passive income, Alex, and is it

something we should be aspiring for?

>> So, um, first I think it'd be helpful

for everyone to even define in terms of

how to think about passive income versus

active income. So, one is that people

often discuss it in binary terms,

passive versus actum, when it's really

more of a continuum of how passive is it

versus how active is it? And that way it

becomes way less black and white. When I

think about passive versus active, um,

when people are starting out, I

generally just discard it entirely

because they typically don't have

sufficient capital in order to actually

make meaningful passive income and they

would get significantly higher returns

on increasing their active income. And

virtually every extremely rich person

who self-made as my asterisk generally

has gigantic active income and only

begins to look at passive when they have

so much money from reinvesting in their

higher return things, which is what got

them this very large active income that

they're like, where else should I put

it? And then at that point it's really a

question of diversification which is

like how much more do I not want to

double down on the main thing and that's

a completely personal question and I

don't there is no in my opinion there's

no right answer to that um of because

that's a fundamental like how much risk

do I want to take um which I see is

entirely personal but I'll give you a

very a real example of like an

investment I made you know 5 years ago

which was um we did ex exited the

business um and I had more time on my

hands and I was like okay well why don't

I just start spending you a couple

million bucks a year on making content.

Now, that had basically zero return in

that time period, but if I were to look

at the return on capital for that, you

know, $2 million a year I did for the

first few years compared to today was

probably the highest return capital that

I made. But is that was that a passive?

No, it's definitely not passive. It was

100% active in from an investing

perspective. And so, this is when people

are like, what do you mean by investing

yourself? I mean that right like you're

investing in either the skills that

you're acquiring the businesses that

that you have and a very simple

investment a lot of times uh can get you

ideally leverage on your time and so I

would rather think for the person who's

starting out not like how do I make this

passive I would say how do I get more

leverage on my active and so like I

could start by shoveling snow in the

beginning and then once I save up enough

of my shekels then I'll buy a snow

blower and all of a sudden I can go from

doing you know one driveway an hour to

doing three driveways an hour and then

boom I tripled my income. Now, for that

one week that my cash flow is down

because I had to buy the equipment, I'll

I'll have made less money, but then I'll

very quickly recoup it. Now, to the same

degree, that's in a capital expense from

an equipment perspective, but you can do

the same thing from a skills perspective

of I give a classic example of a

phabotamist as somebody who draws blood.

Um, in the US, I think they make

somewhere in the neighbor of like $25 an

hour or something like that. It doesn't

take very long in order to become a

phabotamist and it doesn't take a lot of

money. And so, you know, a couple weeks

you do the studies, you get your cert,

and then all of a sudden you take

minimum wage and as long as you're not

in San Francisco, you will have double

or tripled your earning capacity in just

a very short period of time. And so,

that's a very good return on capital.

And so, that's where I think about the

best investments for people who are

starting out who have call it sub

$10,000, sub maybe $25,000. It's like I

put all my money into how I get more

leverage on my active, which is either

going to be more skills or or more

actual physical equipment in order to

get returns on the skills I already have.

have.

>> Interesting. more leverage on my time.

>> I I personally like the idea of asset

income versus passive income. So if you

actually look at what's really going on

with passive income, it's that there is

a an asset and that asset is in some way

generating income. So for example, you

own a house and you get rental income or

you write a book and you've got

intellectual property and that

intellectual property generates a

royalty income. So first there's an

asset. Income follows assets. So the

first thing you need is an asset and

then you get the yield from the asset.

And there's traditional assets which are

very very good if you've already made

money or you already have money and you

want to park it somewhere and you want

to stay ahead of inflation.

>> Traditional assets are terrible for

trying to make money.

>> Give me an example of a traditional

asset in this definition.

>> Um I think of something like art, wine

and watches as more like a speculation

but or or perhaps a store of value. But

then there's something else which is

called a performance asset. And a

performance asset is typically

intellectual property, media, code, or

data. And when you have these

performance assets, if you can build

these, these are ones you don't have to

buy, you build them. So, for example,

you could write a book, and now you've

got intellectual property. You could

build a system like a a SAS platform.

Uh, and now that SAS platform is in some

way an asset, and you can rent that out

to to more people. uh you could build a

database of a thousand people and build

a relationship with those thousand

people and then every time you write one

email it goes out to a thousand people

and they've got a little newsletter. So

that's a performance asset. So typically

when you look at um the people around

this table we're actually got we we're

very lucky to have a lot of performance

assets big followings uh lots of media

and content um books that we've written.

So these are kind of like the

performance assets that anyone can

create. It used to be until very very

recently that you just couldn't build

assets like you couldn't. It was very

very difficult. But we live in this

magical moment where almost anyone with

a phone and a laptop can start creating

performance assets with intellectual

property, media, data, and code. And uh

and then you can basically start the

process of building those assets and and

then those assets produce more income.

>> Here's my conspiracy theory about

passive income. And uh I think that

passive income, it's a tax code, right?

It is a real thing. It exists. You pay

less money to the government if you have

passive income than active income. Like

that's where the word comes from. But I

think the reason that it's been so

idealized is because there's an entire

industry where people have told all of

us for decades that they are better at

managing our money than we are. That's

the mutual fund industry, that's the

investment industry, that's the real

estate industry, that's the private

equity industry. and they have said we

are uh professionals and thus we will

charge you 2 and 20. We'll charge you uh

an investment fee on top of your assets

for you to give us the professionals

your money to beat inflation over time.

The problem is is that to your point

they will never make you wealthy.

Investing overtime in those assets are

are great for beating inflation or

making sure you have downside protection

for your cash over time in order to

allow it to grow and have

diversification. But they're very bad if

you want to get rich. If you want to get

rich, you're not going to get rich in

mutual funds and sitting it in somebody

else's private equity fund. The people

who get rich off those things, they do

the active income. They're the ones who

are running the private equity fund.

They're the ones that are running the

private equity companies and they're the

ones that are running the real estate.

And so there's this fascinating world we

live in actually where people think that

it is better and more sophisticated to

not teach you how to become capable of

running your own business and creating

active income, but that instead uh

you're more sophisticated if you're on

Wall Street. And and so I think that

passive income was actually in a lot of

ways a way for the wealthy class to gain

a lot of our assets.

>> But people click it. And this is why

there's a generation of younger people

as well that are obsessed with trying to

figure out how to make passive income.

It's it's it's clickbait, isn't it?

>> I think it's forex trading,

>> but I think it's almost deeper than

that. I think it is actually that um it

sounds, you know, if Alex says this, I

say it too, but like invest in yourself.

People are like, "What does that mean?

What do of course I'm trying to but how

do I invest in myself? That's hard. I

don't know exactly how to do it. What

are you trying to sell me courses or

tell me to buy your books or whatever?"

And that's the the reaction. But the

truth of the matter is is that you will

never be able to have the return on

investment in somebody else's asset that

you will in yourself. You just won't.

>> Okay. So, let's go on to that then.

Investing in yourself.

If you were starting out in your career

today without the skills that you have,

without the audience that you have, and

you had to choose how to invest in

yourself, what is that investment you

would make in yourself today in 2025?

>> I'm going to give two answers. So um so

I started at zero once and then I've

lost everything twice. And so I have the

I have done that three times now. Um

starting from zero without a reputation

um or money. And so um what I did in all

three times was the same thing which was

the first thing I did was I learned how

to advertise which is how to let people

know about the stuff I have. The second

thing I did was that I went to people

who had an existing business and I said,

"Hey, for as little as little money as

possible, what would you do to fulfill

your existing services

and then when someone uh I would then

use the advertising that I had, so at

the time it was Facebook ads. Um, I

would run ads and then I would sell

those leads into that business based on

the pre-determined price. And so let's

say it's a a chiropractor or for me it

was a gym. So I went to a gym owner. I

said, "What would you, you know, take

for a member?" And they said, you know,

we would actually take them for if you

can just bring them, you can keep the

money. We just want the customer for

free. And so I said, okay, well, the

first six weeks of the time that they

spend money with you is mine, and then

after that, they're all yours. And they

said, "That's fair." And so then I just

spent money and I sold into someone

else's business, and I kept everything

above the spread, which since the basis

was zero, I kept all of the money, and I

had zero cost of delivery. So literally,

it was just cash collected minus CAC,

all of that was profit. And so when I

started over from zero the third time,

um I was able to make $100,000 in the

first month when I needed it

>> because you had that skill of advertising.

advertising.

>> And so when we say like invest in

yourself, it's just a it's a it's a very

uh amorphous term, but fundamentally you

have to learn the the the skills of

generating money. And so you're going to

have to have some level of promotion.

You have to let people know about your

stuff, which is either be through

content, through paid ads, through

outreach, right? Or it's going to be

through affiliates. So somebody already

has an audience you negotiate some sort

of thing with. Honestly, so many

businesses, like you can go to a

chiropractor and say, "Hey, you know,

how little will you do 10 sessions for?"

And you'd be amazed if I say, "Hey, I

can bring you a hundred people. How

little can you do 10 sessions for?" They

might say 20 bucks a session. Now, I

might sell it for 200, but that's on me.

>> And I make my 90% spread. I don't have

to do anything. I just have to promote

and sell. And so, that is an example of

something that like I have done and did

do each of the times when I needed to

make money in the beginning when I had nothing.

nothing.

>> What skill that you currently have?

>> Yeah. would get you back to being a

hund00 million entrepreneur.

>> So, it's a really good question. I think

it's actually stacking skills. So, a lot

of a lot of times like when this

question gets asked um basically the

assumption is that you have to stay in

the same vehicle. And so, like the

fastest way to make $100,000 is not the

fastest way to make $10 million, but I

might make $10 million faster if I

started with $100,000. And so, if I have

zero, then I'm going to do something

that costs zero capital and is pure

skill, which is exactly what what that

was. right now to make let's say to

actually start running those ads I might

need $1,000. And so it's like I might

drive Uber for a,000 bucks, get my

thousand, then spend the,000 on ads to

make my 30,000 and during that process I

can reinvest that to get the hundred.

Okay, great. Now I've got the hundred.

Now with the hundred I can flip that

into and the key of each of those is

that none of those are really businesses

per se and that like I can just walk

away from them whenever. I don't have

ongoing delivery or ongoing commitments

and so that gives you a lot of

flexibility. And I mean, I think there

are a lot of entrepreneurs, at least the

ones that I know, um, have have had

these moments where they needed to

generate a lot of capital in a short

period of time and have a few kind of

like fast money skills that they don't

flex normally because there's there's

caps to them, right? What

>> I think is cool about entrepreneurship,

too, is we can all do it. You have to

find your unfair advantage. One of your

unfair advantages is you're very good at

paid promotion and getting to the

masses, right? That was never really my

unfair advantage. I think there's two

different ways you could do this. One

would be promotion. So, are you an

incredible salesperson to go direct to a

ton of people? The other way is

partnerships. And I think you can think

of these different ways. Promotion could

be BTOC often, which is like going

direct to consumer. Um, often

partnerships is B2B, going to a few big

people. Um, I think of partnerships as

employment, which is a very fast way

often to make money, too. Like Jack

might make way more millions with you

than he does individually. And so, my

background when I didn't have any cash,

I didn't know how to go to people

directly. I didn't know how to do paid

ads. I wasn't sure how to do promotion,

which is a volume game that you have to

be good at. So, I went towards

partnerships. I said, I can get to

fewer, bigger, faster. I can't get to

many fast. And so, I think there's like

two paths to making money quickly if you

don't have any. And and the first path

has less risk, but perhaps midsize

returns. And that is go find the best

entrepreneur, founder, business builder

you can find who you can still get to on

a daily basis in some way and go work

for them. Learn as much as you can, earn

as much as you can. As you learn more,

ask for more continuously over time.

This is how I mean Cheryl Sandberg is

one of the richest people in the world

and she's never had her own business,

right? She's only worked for other

people and she's doing just fine. So I

think that's the first way and that

would be what I would call partnerships

or employment. And then the second way

is to go do it yourself, right? which is

high risk but probably highest reward.

And in that instance, you have to go and

figure out how to get people to buy your

things continuously over over time. But

like when I didn't have money in the

beginning, um you know, I had just I had

gotten out of finance. I didn't want to

work for somebody else again. I was

pretty miserable. I had worked for a

billion hours for people in investment

banking and asset management. And uh I

had massive gold in handcuffs. Like I

made a lot of money. And um I had no

brilliant idea. I didn't have a business

idea. I had no idea what to do next and

I'm pretty riskaverse actually. I was

like way too scared to go do do what you

guys all did which is start businesses

from scratch. And so instead I partnered

up. I went to another company that

needed to raise capital and get a few

investments in it. And I went to them

and said, "I can raise money from a few of these people that I know. If I do

of these people that I know. If I do that, can I negotiate a little bit of

that, can I negotiate a little bit of equity in the company? Can I negotiate

equity in the company? Can I negotiate upside return for the money and dollars

upside return for the money and dollars that I bring in? And I want to I want to

that I bring in? And I want to I want to be a partner in the company." And so you

be a partner in the company." And so you don't always have to start your own

don't always have to start your own thing. If you can negotiate with

thing. If you can negotiate with partnerships, I think sometimes you can

partnerships, I think sometimes you can skip to the front of the line if you're

skip to the front of the line if you're not a great natural salesperson, you

not a great natural salesperson, you know, or marketer. And so you really

know, or marketer. And so you really just need to decide which one. And

just need to decide which one. And neither of them are better than any

neither of them are better than any others. They're just better for you.

others. They're just better for you. >> The amount of resources you have access

>> The amount of resources you have access to is a factor of knowledge, network,

to is a factor of knowledge, network, and reputation. So you're at all times

and reputation. So you're at all times you're trying to build your knowledge.

you're trying to build your knowledge. You're trying to build your network.

You're trying to build your network. You're trying to build your reputation.

You're trying to build your reputation. A lot of people are worried about the

A lot of people are worried about the knowledge, but they've probably done

knowledge, but they've probably done interesting things already in their

interesting things already in their history. They probably if they looked

history. They probably if they looked over the last 3, four, five years, they

over the last 3, four, five years, they could say, "Actually, I've done all

could say, "Actually, I've done all sorts of things, but I've never told

sorts of things, but I've never told anyone about that, right? I've never

anyone about that, right? I've never actually explain to I've never posted on

actually explain to I've never posted on LinkedIn. I've never posted an update

LinkedIn. I've never posted an update telling people what I've done. So

telling people what I've done. So therefore, I've actually got things that

therefore, I've actually got things that could build a reputation, but I've never

could build a reputation, but I've never leveraged that reputation." If you're a

leveraged that reputation." If you're a young person, especially, network is

young person, especially, network is actually you've got a superpower with

actually you've got a superpower with network. And I'll tell you why. Because

network. And I'll tell you why. Because if you go to a private bank that

if you go to a private bank that normally banks people with 3 million,

normally banks people with 3 million, but you say, "I want to be an

but you say, "I want to be an entrepreneur. I want to come to some of

entrepreneur. I want to come to some of your entrepreneur events that you host,

your entrepreneur events that you host, they'll bring you along cuz you're

they'll bring you along cuz you're you're an ambitious young person." If

you're an ambitious young person." If you go to a large accounting firm and

you go to a large accounting firm and say, "Do you ever host big events? Could

say, "Do you ever host big events? Could I attend some? Can I jump on a

I attend some? Can I jump on a newsletter that lets people know about

newsletter that lets people know about the events?" They'll invite you along.

the events?" They'll invite you along. And I'm talking about like Ernston Young

And I'm talking about like Ernston Young and KPMG. Every single week, they've got

and KPMG. Every single week, they've got some thing that they're doing in their

some thing that they're doing in their offices. They've got experts, they've

offices. They've got experts, they've got rich people, they got all that sort

got rich people, they got all that sort of stuff happening there and they'll

of stuff happening there and they'll invite you along. So, you've got this

invite you along. So, you've got this ability to build your network, you got

ability to build your network, you got this ability to leverage uh your

this ability to leverage uh your reputation. I actually don't think that

reputation. I actually don't think that you can make good decisions about the

you can make good decisions about the knowledge on your own. I think you need

knowledge on your own. I think you need someone who's at the higher level to

someone who's at the higher level to tell you this is the skills you should

tell you this is the skills you should go for. These are the things you should

go for. These are the things you should do. So, for example, at the time that

do. So, for example, at the time that Alex did ads, it was a great time for

Alex did ads, it was a great time for doing ads. But now fast forward to

doing ads. But now fast forward to today, it's probably better to study AI

today, it's probably better to study AI and and to bring that to the table. So

and and to bring that to the table. So sometimes those rep sometimes those

sometimes those rep sometimes those things change. So let's say you figure

things change. So let's say you figure out what is your reputation? What can

out what is your reputation? What can you talk about when you're in front of

you talk about when you're in front of people, you go networking, you go to a

people, you go networking, you go to a few of these events, you outreach, you

few of these events, you outreach, you get yourself in front of some people,

get yourself in front of some people, and you actually ask the question, what

and you actually ask the question, what kind of skills do I need? What what sort

kind of skills do I need? What what sort of um I need to build my skills? I need

of um I need to build my skills? I need to build my knowledge. What do you think

to build my knowledge. What do you think would be a valuable thing uh to do?

would be a valuable thing uh to do? because people who are at that next

because people who are at that next level up, they're they're noticing what

level up, they're they're noticing what they what they need. Uh they're noticing

they what they need. Uh they're noticing what's hot, what's not. Um so they're

what's hot, what's not. Um so they're going to be able to teach you or or

going to be able to teach you or or guide you. And and um to Cody's point,

guide you. And and um to Cody's point, you know, you you want to have a mentor

you know, you you want to have a mentor in your life. You want to have someone

in your life. You want to have someone who's who's been there, done it. You

who's who's been there, done it. You want to, you know, partner with a bigger

want to, you know, partner with a bigger organization and get some of those.

organization and get some of those. Before Kim Kardashian was Kim

Before Kim Kardashian was Kim Kardashian, she was Paris Hilton's uh

Kardashian, she was Paris Hilton's uh assistant and she learned the playbook

assistant and she learned the playbook for being famous for being famous. and

for being famous for being famous. and then she took it to a new level. Took it

then she took it to a new level. Took it to a new level. So she she uh she did an

to a new level. So she she uh she did an apprenticeship and then she applied the

apprenticeship and then she applied the apprenticeship.

apprenticeship. >> One of the things that all of us have in

>> One of the things that all of us have in common is we make content and it's

common is we make content and it's almost a bit of an elephant in the room

almost a bit of an elephant in the room that no one's no one's really doubled

that no one's no one's really doubled down on when I asked what what you guys

down on when I asked what what you guys think is the most sort of like

think is the most sort of like undervalued skill or the best place to

undervalued skill or the best place to invest in yourself. I was actually

invest in yourself. I was actually expecting you all to say start making

expecting you all to say start making content for a variety of reasons. Not

content for a variety of reasons. Not just because you want to build an

just because you want to build an audience so you have more customers, but

audience so you have more customers, but actually

actually >> and I can see it on all of you. It's

>> and I can see it on all of you. It's helped you to think better.

helped you to think better. >> It's helped you to communicate better.

>> It's helped you to communicate better. It's helped you to sell better. When you

It's helped you to sell better. When you get that chance to sit down with that

get that chance to sit down with that investor or that rich person, you said a

investor or that rich person, you said a second ago, you said earlier that if I'd

second ago, you said earlier that if I'd sat old Alex here, one of the big

sat old Alex here, one of the big differences is this one's much more

differences is this one's much more focused, concise, articulate. So, I'm

focused, concise, articulate. So, I'm wondering what you guys think of that

wondering what you guys think of that content as a undervalued,

content as a undervalued, underappreciated skill in the world

underappreciated skill in the world we're heading in.

we're heading in. >> If I'm starting to today rather than

>> If I'm starting to today rather than when I had, you know, zero, there's

when I had, you know, zero, there's still a huge amount of attention that

still a huge amount of attention that sits on social media, if not more. And

sits on social media, if not more. And there's even more demand for content now

there's even more demand for content now than there was. And so you can supply

than there was. And so you can supply that and get compensated for it. And

that and get compensated for it. And you'll have to do repetitions for a

you'll have to do repetitions for a period of time until eventually you get

period of time until eventually you get good. And then you can develop an

good. And then you can develop an audience and then you obviously can sell

audience and then you obviously can sell things to them.

things to them. >> I think um content content's a little

>> I think um content content's a little bit of an interesting one because

bit of an interesting one because content works when you've got

content works when you've got intellectual property to leverage. So I

intellectual property to leverage. So I remember Alex popped onto my screen the

remember Alex popped onto my screen the first time and he says, "I've sold my

first time and he says, "I've sold my company for $40 million and I've got

company for $40 million and I've got nothing to sell you. I'm just going to

nothing to sell you. I'm just going to tell you how I did it." Cody's the same.

tell you how I did it." Cody's the same. She's like, uh, you know, I, uh, I was

She's like, uh, you know, I, uh, I was working at Goldman Sachs, but then I

working at Goldman Sachs, but then I left Goldman Sachs to earn more money

left Goldman Sachs to earn more money through laundromats. I'm like, that's

through laundromats. I'm like, that's interesting. That's fascinating. Right.

interesting. That's fascinating. Right. So, I'm going to watch that content

So, I'm going to watch that content because there's some interesting

because there's some interesting intellectual property there. Um, my

intellectual property there. Um, my channel took off when I started talking

channel took off when I started talking about I've done seven startups that went

about I've done seven startups that went zero to a million in the first 12

zero to a million in the first 12 months. So, it's that ability to have

months. So, it's that ability to have some intellectual property that people

some intellectual property that people are going to want to get to. I can think

are going to want to get to. I can think of a bunch of examples of creators that

of a bunch of examples of creators that hadn't done anything but their ideas

hadn't done anything but their ideas were the value. So if you think of

were the value. So if you think of someone like George Mack or even James

someone like George Mack or even James CLA or lots of other of these sort of

CLA or lots of other of these sort of like J Shetty online writers who

like J Shetty online writers who >> J Shetty had a great one which was uh

>> J Shetty had a great one which was uh I've got monk wisdom for the modern

I've got monk wisdom for the modern world

world >> and we've got Ali Abdal I left the I

>> and we've got Ali Abdal I left the I quit being a doctor to be a YouTuber. M

quit being a doctor to be a YouTuber. M >> so there's these little hooks that work

>> so there's these little hooks that work and

and >> does everyone have a you don't have to

>> does everyone have a you don't have to have sold a business for tens of

have sold a business for tens of millions or made millions

millions or made millions >> from I think there's some intellectual

>> from I think there's some intellectual property that you've got but bear in

property that you've got but bear in mind that there was a different time

mind that there was a different time where you could just burst onto the

where you could just burst onto the scene and we now have AI generated

scene and we now have AI generated content so if you imagine like airplanes

content so if you imagine like airplanes and they're at the airport and the fog

and they're at the airport and the fog rolls in and if you're on the ground

rolls in and if you're on the ground it's very hard to take off but if you're

it's very hard to take off but if you're already up in the air it's very easy to

already up in the air it's very easy to stay up in the air and it's kind of like

stay up in the air and it's kind of like the AI content that's coming in is is

the AI content that's coming in is is that fog Right? There's just going to be

that fog Right? There's just going to be thousands of AI generated content pieces

thousands of AI generated content pieces just flooding onto everyone's feed. And

just flooding onto everyone's feed. And if you don't have a really good hook,

if you don't have a really good hook, you're just not going to drown out that

you're just not going to drown out that noise.

noise. >> You guys must all be thinking about

>> You guys must all be thinking about this.

this. >> I have I have so much I'm all right. All

>> I have I have so much I'm all right. All right. So So

right. So So one thing I think everyone has to decide

one thing I think everyone has to decide on if they're going to start making

on if they're going to start making content is am I an entertainer or am I

content is am I an entertainer or am I an educator? Right. Right off the bat.

an educator? Right. Right off the bat. And so I think AI content for sure will

And so I think AI content for sure will have tremendous leverage on

have tremendous leverage on entertainment more so than education

entertainment more so than education because the big underlying thing that

because the big underlying thing that Daniel's hitting at is that you have to

Daniel's hitting at is that you have to have proof, right? Like like an AI

have proof, right? Like like an AI avatar cannot come in and say I sold my

avatar cannot come in and say I sold my company for free. They can't. They

company for free. They can't. They didn't do anything because they don't

didn't do anything because they don't exist in the real world. Which is why in

exist in the real world. Which is why in my opinion like the absolute foolproof

my opinion like the absolute foolproof method for making educational content is

method for making educational content is dop Epic [ __ ] and then talk about the

dop Epic [ __ ] and then talk about the epic [ __ ] you did. Period. And so like I

epic [ __ ] you did. Period. And so like I um so yes I'm in you know I'm in LA.

um so yes I'm in you know I'm in LA. Yesterday we also um we had the school

Yesterday we also um we had the school games winners come out schools platform

games winners come out schools platform that hosts online communities and the

that hosts online communities and the winner of the last school games. So 90

winner of the last school games. So 90 days he got to like 300 and something

days he got to like 300 and something thousand a month from a YouTube uh

thousand a month from a YouTube uh channel that he started 16 months ago.

channel that he started 16 months ago. So he started 16 months ago making

So he started 16 months ago making videos about AI. Now what was his

videos about AI. Now what was his interesting thing? So he was just always

interesting thing? So he was just always into AI learned about the tools and then

into AI learned about the tools and then he started helping small businesses for

he started helping small businesses for like $1,500 $2,500 a month where he

like $1,500 $2,500 a month where he would just help them implement these

would just help them implement these automations that would save them money

automations that would save them money and time. And then people were like well

and time. And then people were like well how did you do that? And so he just

how did you do that? And so he just basically would just explain each of the

basically would just explain each of the automations that he made for each of

automations that he made for each of these businesses on his channel. And he

these businesses on his channel. And he made one video a day explaining one of

made one video a day explaining one of the automations. And then he said, "If

the automations. And then he said, "If you want I have a group that's whatever

you want I have a group that's whatever $300, $400 a month that shows you how to

$300, $400 a month that shows you how to build the same automations." To your

build the same automations." To your point about the education is like you

point about the education is like you just need some proof. And it doesn't

just need some proof. And it doesn't like you don't have to like the bigger

like you don't have to like the bigger the proof you have the wider basically

the proof you have the wider basically the wider TAM you'll be able to reach

the wider TAM you'll be able to reach because more people be I'll just put the

because more people be I'll just put the words impressed. if you just are in your

words impressed. if you just are in your 20s and to be fair, you just quit

20s and to be fair, you just quit Goldman Sachs. It's like that is enough

Goldman Sachs. It's like that is enough of a thing that because that's it's a 1%

of a thing that because that's it's a 1% type deal, right? But you can also you

type deal, right? But you can also you can 1% through achievement. But the

can 1% through achievement. But the other side that I think people widely

other side that I think people widely underestimate is you can 1% through

underestimate is you can 1% through volume of work. So if I said I read 200

volume of work. So if I said I read 200 books last year,

books last year, >> let me show you the 200. They're all

>> let me show you the 200. They're all dog, you know, dogeared. Let me tell you

dog, you know, dogeared. Let me tell you what I learned. Like I'd be like, well

what I learned. Like I'd be like, well shoot. Because I think everybody wants a

shoot. Because I think everybody wants a bargain on time, right? Like I went on a

bargain on time, right? Like I went on a 100 speed dates. this is what I learned.

100 speed dates. this is what I learned. It's like, well, I don't want to go on

It's like, well, I don't want to go on 100 dates, but like anyone can do that.

100 dates, but like anyone can do that. So, it's either 1% achievement or 1%

So, it's either 1% achievement or 1% effort, but this one you can do. And

effort, but this one you can do. And even if you have zero outcome, there's

even if you have zero outcome, there's still stuff that you'll learn. And then

still stuff that you'll learn. And then that will people find interesting that

that will people find interesting that you can build an audience around. And if

you can build an audience around. And if you do that enough times, eventually you

you do that enough times, eventually you do achieve something that is

do achieve something that is interesting. And then that kind of

interesting. And then that kind of becomes permanent. But at the end of the

becomes permanent. But at the end of the day, like proof always beats promise. I

day, like proof always beats promise. I >> I also think anybody can go viral online

>> I also think anybody can go viral online with one of two things. We've talked a

with one of two things. We've talked a lot about experience. So if you do have

lot about experience. So if you do have experience, if you built a billion

experience, if you built a billion dollar and assets under management

dollar and assets under management business, gone to Goldman, built seven

business, gone to Goldman, built seven startups, that's incredible. That's not

startups, that's incredible. That's not normal. That's totally fine. But that

normal. That's totally fine. But that means that you could just have the

means that you could just have the everyday other e of starting the

everyday other e of starting the experience. I think we we obsess on

experience. I think we we obsess on expertise. Expertise is the way to make

expertise. Expertise is the way to make content online and make millions. But

content online and make millions. But what about just the experience? You

what about just the experience? You could say, "Actually, I've done nothing.

could say, "Actually, I've done nothing. I'm a college dropout. I've [ __ ]

I'm a college dropout. I've [ __ ] around a lot. I don't have much figured

around a lot. I don't have much figured out, but over the next year, I'm gonna

out, but over the next year, I'm gonna try to make a million dollars. And you

try to make a million dollars. And you can go just as viral, if not more. I

can go just as viral, if not more. I mean, a good example would be like Ryan

mean, a good example would be like Ryan Tran, who who I love, who's in Austin,

Tran, who who I love, who's in Austin, Texas, too. And Ryan is just like, I'm

Texas, too. And Ryan is just like, I'm trying stuff, and this might fail and I

trying stuff, and this might fail and I have no idea, and you guys can come

have no idea, and you guys can come along. The proof could actually be you

along. The proof could actually be you just trying a thing and it not working

just trying a thing and it not working one way or the other. And so I think the

one way or the other. And so I think the only problem with this type which is

only problem with this type which is experience as opposed to expertise is

experience as opposed to expertise is that with expertise you have attention

that with expertise you have attention and intention aka intent to buy whereas

and intention aka intent to buy whereas if you're just experiencing thing you

if you're just experiencing thing you might have attention but what are you

might have attention but what are you going to sell because you don't have

going to sell because you don't have like a value derived from it where's

like a value derived from it where's your intent I mean if you think about

your intent I mean if you think about who are the biggest creators online

who are the biggest creators online only fans the Kardashians you know what

only fans the Kardashians you know what are the biggest websites online porn

are the biggest websites online porn sites that's a lot of attention but the

sites that's a lot of attention but the intent to buy is going to be low for any

intent to buy is going to be low for any of those over time at large. And so I

of those over time at large. And so I think you have to ask yourself, okay, if

think you have to ask yourself, okay, if I get a ton of attention, let's make

I get a ton of attention, let's make sure I'm really thoughtful on what I get

sure I'm really thoughtful on what I get attention for. And then let's think

attention for. And then let's think about once I have that attention, where

about once I have that attention, where do I actually have some sort of

do I actually have some sort of expertise or value that I can trade in

expertise or value that I can trade in order for people to have an intent to

order for people to have an intent to buy? And I think about it like this.

buy? And I think about it like this. Rihanna, huge star, right? Big

Rihanna, huge star, right? Big celebrity, billionaire now because of

celebrity, billionaire now because of Fenty Beauty. Drake, giant celebrity,

Fenty Beauty. Drake, giant celebrity, arguably more views, more hits than

arguably more views, more hits than Rihanna, worth one, one six, 1/8 what

Rihanna, worth one, one six, 1/8 what Rihanna is worth. Why? Because he has

Rihanna is worth. Why? Because he has ton of sub attention, but he hasn't

ton of sub attention, but he hasn't actually done much to get intent to buy

actually done much to get intent to buy from him. And so Rihanna's just

from him. And so Rihanna's just categorically better, if we define

categorically better, if we define better as bank account and scoreboard on

better as bank account and scoreboard on uh net worth, than Drake is at

uh net worth, than Drake is at monetizing their intention. And so, um,

monetizing their intention. And so, um, I think that a lot of creators online

I think that a lot of creators online think too much about views, likes,

think too much about views, likes, subscribes, and don't think very much

subscribes, and don't think very much about how do I monetize on top of this

about how do I monetize on top of this because nobody stays relevant forever

because nobody stays relevant forever online. And so, I think while you're in

online. And so, I think while you're in the spotlight, you do have to think

the spotlight, you do have to think about how you going to convert that

about how you going to convert that funnel in some way.

funnel in some way. >> That's a really great point. A lot of

>> That's a really great point. A lot of the people you see blowing up online,

the people you see blowing up online, they do have a backend that monetizes it

they do have a backend that monetizes it because to your point, it costs money.

because to your point, it costs money. you know, I probably spend 40 50,000 a

you know, I probably spend 40 50,000 a month just on retainers of people who

month just on retainers of people who are working on that stuff and

are working on that stuff and >> content.

>> content. >> Yeah. Content related stuff and you know

>> Yeah. Content related stuff and you know because I have businesses that can

because I have businesses that can monetize that then it it worth doing but

monetize that then it it worth doing but it's hard to compete with that if you

it's hard to compete with that if you don't have a back end. The the other

don't have a back end. The the other option is to work with someone who does

option is to work with someone who does have a business and they do have

have a business and they do have experience. they do have something to

experience. they do have something to talk about, but they're busy and they

talk about, but they're busy and they need someone to project manage this

need someone to project manage this because one thing that's happened is

because one thing that's happened is that to the traditional business owner,

that to the traditional business owner, this personal brand thing and this

this personal brand thing and this building a content empire uh that builds

building a content empire uh that builds your business, this is brand new to a

your business, this is brand new to a lot of people. So, there are plenty of

lot of people. So, there are plenty of people who've got a $50 million a year

people who've got a $50 million a year business and they're going, "Oh, should

business and they're going, "Oh, should I show up online at all? Maybe I

I show up online at all? Maybe I should." and they're just starting to

should." and they're just starting to tiptoe into the water and they've got a

tiptoe into the water and they've got a story, they've got a back-end business,

story, they've got a back-end business, they can monetize it, they can allocate

they can monetize it, they can allocate budget to it, you could be the person

budget to it, you could be the person who does that and you'd be, if you did

who does that and you'd be, if you did do that, you would be one of the very

do that, you would be one of the very special people in their life. Um, I had

special people in their life. Um, I had a guy come to me a couple of years ago

a guy come to me a couple of years ago and said, "Daniel, I just cannot believe

and said, "Daniel, I just cannot believe you've written five books at the time.

you've written five books at the time. You've got seven different companies.

You've got seven different companies. You've got all this stuff going on and

You've got all this stuff going on and you've got a few thousand followers and

you've got a few thousand followers and I've had a look online. You get like

I've had a look online. You get like 10,000 views a month." And I'm like,

10,000 views a month." And I'm like, "Yeah, but I'm busy. I'm running my

"Yeah, but I'm busy. I'm running my businesses." And he came to me and said,

businesses." And he came to me and said, "I will project manage you into the

"I will project manage you into the millions per month." And he just

millions per month." And he just literally picked this up, a guy called

literally picked this up, a guy called Martin, right? And he just said, "I I'm

Martin, right? And he just said, "I I'm going to do this and I'm going to turn

going to do this and I'm going to turn up at your house, do a day of filming

up at your house, do a day of filming every month. I'm going to edit it. I'm

every month. I'm going to edit it. I'm going to chop it all up. I'm going to do

going to chop it all up. I'm going to do all this stuff and I'll project manage

all this stuff and I'll project manage the whole thing." Now, the two of us are

the whole thing." Now, the two of us are very uh close now. We've got a good

very uh close now. We've got a good relationship. And he's now got an idea

relationship. And he's now got an idea for an AI startup, and I'm going to back

for an AI startup, and I'm going to back that. Every single one of you watching

that. Every single one of you watching this right now has something to offer,

this right now has something to offer, whether it's knowledge or skills or

whether it's knowledge or skills or experience. And that means you have

experience. And that means you have value. Stands, the platform I co-own,

value. Stands, the platform I co-own, who are one of the sponsors of this

who are one of the sponsors of this podcast, turns your knowledge into a

podcast, turns your knowledge into a business through one single click. You

business through one single click. You can sell digital products, coaching,

can sell digital products, coaching, communities, and you don't need any

communities, and you don't need any coding experience either, just the drive

coding experience either, just the drive to start. This is a business I really

to start. This is a business I really believe in. And already $300 million has

believe in. And already $300 million has been earned by creators, coaches, and

been earned by creators, coaches, and entrepreneurs just like you have the

entrepreneurs just like you have the potential to be on Stan's store. These

potential to be on Stan's store. These are people who didn't wait, who heard me

are people who didn't wait, who heard me saying things like this, and instead of

saying things like this, and instead of procrastinating, started building, then

procrastinating, started building, then launched something and now they're

launched something and now they're getting paid to do it. Stan is

getting paid to do it. Stan is incredibly simple and incredibly easy.

incredibly simple and incredibly easy. And you can link it with a Shopify store

And you can link it with a Shopify store that you're already using if you want

that you're already using if you want to. I'm on it and so is my girlfriend

to. I'm on it and so is my girlfriend and many of my team. So, if you want to

and many of my team. So, if you want to join, start by launching your own

join, start by launching your own business with a free 30-day trial. Visit

business with a free 30-day trial. Visit stephvenbartlet.stan. stan.store and get

stephvenbartlet.stan. stan.store and get yours set up within minutes.

yours set up within minutes. >> If you guys were starting from zero

>> If you guys were starting from zero today

today >> with AI in the picture and all of these

>> with AI in the picture and all of these platforms and the way things are going,

platforms and the way things are going, I I spent I've spent a lot of time

I I spent I've spent a lot of time thinking about the next big opportunity

thinking about the next big opportunity in content and I think about the next

in content and I think about the next big platform. Where would you be

big platform. Where would you be starting today based on who you guys are

starting today based on who you guys are and the skills that you have and the

and the skills that you have and the things you're interested in is probably

things you're interested in is probably a better way of saying it. Would you be

a better way of saying it. Would you be on LinkedIn posting once a day? Would

on LinkedIn posting once a day? Would you be on Tik Tok making videos? Would

you be on Tik Tok making videos? Would you be on YouTube starting a channel?

you be on YouTube starting a channel? Would you start a newsletter?

Would you start a newsletter? And with AI in the picture, I think it

And with AI in the picture, I think it changes the answer because content is

changes the answer because content is going to become very easy to make. So

going to become very easy to make. So where does the value acrew to? Like

where does the value acrew to? Like where does the value move to in a world

where does the value move to in a world where every kid a kid in Mumbai could

where every kid a kid in Mumbai could make uh a real or a quote picture now

make uh a real or a quote picture now with Chat Gyt? So where is the value

with Chat Gyt? So where is the value going to acrew and how are you going to

going to acrew and how are you going to milk that cow? How are you going to

milk that cow? How are you going to capitalize? Like what is the one thesis

capitalize? Like what is the one thesis you have about the future of content

you have about the future of content that you haven't told anybody yet? Tell

that you haven't told anybody yet? Tell me.

me. >> Well,

>> Well, >> I'll tell you mine. I'll tell you mine.

>> I'll tell you mine. I'll tell you mine. >> I want to ask a question too for

>> I want to ask a question too for everybody at the end of I'll give you my

everybody at the end of I'll give you my my quick thing. One, I will say like um

my quick thing. One, I will say like um and I'd be curious if you all agree.

and I'd be curious if you all agree. When I first started making content, um

When I first started making content, um most people that I knew thought it was

most people that I knew thought it was really cringe. Actually, they're like uh

really cringe. Actually, they're like uh why would you make content? If you've

why would you make content? If you've actually had any success that you

actually had any success that you supposed to have had, why would you be

supposed to have had, why would you be so idiotic as to be on the internet

so idiotic as to be on the internet making content, it can't be true that

making content, it can't be true that you've done these things if you're

you've done these things if you're making Tik Toks all day? And um and I

making Tik Toks all day? And um and I think they totally miss the boat that

think they totally miss the boat that like the 21st century concern uh

like the 21st century concern uh currency is attention and attention

currency is attention and attention could be bought with ads or attention

could be bought with ads or attention could be bought in a different way but

could be bought in a different way but through organic content creation. And so

through organic content creation. And so you go like cringe to content to

you go like cringe to content to conversion. And actually, I think all of

conversion. And actually, I think all of us would probably agree it was a pretty

us would probably agree it was a pretty good play, but like I'm sure Did you

good play, but like I'm sure Did you guys all get laughed at when you first

guys all get laughed at when you first got on the internet?

got on the internet? >> Of course.

>> Of course. >> Yeah. Right.

>> Yeah. Right. >> Never.

>> Never. >> Like still get laughed at now.

>> Like still get laughed at now. >> I still get I still get laughed at. So

>> I still get I still get laughed at. So like I just want to prepare. If you get

like I just want to prepare. If you get online, be prepared. People will think

online, be prepared. People will think you're idiotic and

you're idiotic and >> and your friends the shedding period

>> and your friends the shedding period where you transition to

where you transition to >> 100%. And and people who are serious for

>> 100%. And and people who are serious for whatever reason have not figured out

whatever reason have not figured out that there is a huge arbitrage

that there is a huge arbitrage opportunity with being known. Even if

opportunity with being known. Even if even if you don't care about the views

even if you don't care about the views and all I have as something that's a

and all I have as something that's a differentiator is that if I ping Stephen

differentiator is that if I ping Stephen you'll respond to me because I am

you'll respond to me because I am somehow I have some prefence online.

somehow I have some prefence online. Same with Alex, you know, right with all

Same with Alex, you know, right with all of us. And so one I just want to say

of us. And so one I just want to say that up front because it will suck. You

that up front because it will suck. You know, I'm in these creator groups and at

know, I'm in these creator groups and at some point it just happened yesterday.

some point it just happened yesterday. I'm in a group with like some of the

I'm in a group with like some of the biggest creators in the world and uh all

biggest creators in the world and uh all of them were listening. I mean maybe 50

of them were listening. I mean maybe 50 responses of a moment where um everybody

responses of a moment where um everybody hated them on the internet. it was super

hated them on the internet. it was super dark. You know, they couldn't stop

dark. You know, they couldn't stop watching and reading the comments and

watching and reading the comments and they felt like there was like a fight

they felt like there was like a fight orflight situation from a bunch of

orflight situation from a bunch of strangers. And so, I think it's worth

strangers. And so, I think it's worth just saying content can have a little

just saying content can have a little bit of a downside and you got to like

bit of a downside and you got to like protect against that, but like also go

protect against that, but like also go full [ __ ] bore into it because who

full [ __ ] bore into it because who cares? Uh, you'll be forgotten anyways.

cares? Uh, you'll be forgotten anyways. And, um,

And, um, >> embarrassment is the price of entry as

>> embarrassment is the price of entry as they say.

they say. >> Yeah.

>> Yeah. >> And we've all all faced that and had to

>> And we've all all faced that and had to go through that to get to the other

go through that to get to the other side. Now, I want your content secret.

side. Now, I want your content secret. We talk about social media and I think

We talk about social media and I think um there's been a lot of talk about it

um there's been a lot of talk about it shifting really more towards interest

shifting really more towards interest media rather than social media. Right.

media rather than social media. Right. So I think this is extremely important

So I think this is extremely important because what what Cody was referencing

because what what Cody was referencing earlier is again entertainment versus ed

earlier is again entertainment versus ed education. And so Rihanna and Drake I

education. And so Rihanna and Drake I see both as entertainers. Now what's

see both as entertainers. Now what's interesting is that where do they have

interesting is that where do they have influence? So she used the word intent

influence? So she used the word intent but fundamentally I say like how do we

but fundamentally I say like how do we increase the likelihood that someone

increase the likelihood that someone complies with a request or complies with

complies with a request or complies with a solicitation. Right? Right? If I tell

a solicitation. Right? Right? If I tell you to do something one, I mean, we've

you to do something one, I mean, we've all seen some creators who have tiny

all seen some creators who have tiny audiences, but if they say, "Hey, go do

audiences, but if they say, "Hey, go do this thing." You know, they have 100%,

this thing." You know, they have 100%, not really 100, but they have a huge

not really 100, but they have a huge conversion on a very small audience. And

conversion on a very small audience. And then other people, you know, I can name

then other people, you know, I can name some Tik Tockers right now that have,

some Tik Tockers right now that have, you know, 50 plus million uh followers

you know, 50 plus million uh followers that have had 13 failed launches because

that have had 13 failed launches because they have views, but they have zero

they have views, but they have zero influence. No one listens to them for

influence. No one listens to them for their advice.

their advice. >> And so, um, in order to create

>> And so, um, in order to create influence, there's four things. So,

influence, there's four things. So, number one is, and so I just remember

number one is, and so I just remember SPCL, right? So, you have status. So

SPCL, right? So, you have status. So somebody who controls scarce resources.

somebody who controls scarce resources. So a bartender at a bar, there's alcohol

So a bartender at a bar, there's alcohol behind them. It's a scarce resource. In

behind them. It's a scarce resource. In the bar, they have status. When they

the bar, they have status. When they walk outside of the bar, no one cares

walk outside of the bar, no one cares about them. But in the bar, they have

about them. But in the bar, they have status, right? So that get so they give

status, right? So that get so they give influence. The second is power. And so

influence. The second is power. And so power is basically um say do

power is basically um say do correspondence, meaning if I tell you to

correspondence, meaning if I tell you to do something, follow these instructions,

do something, follow these instructions, and a good thing happens, then you I

and a good thing happens, then you I I'll increase the likelihood that you

I'll increase the likelihood that you comply with requests in the future. And

comply with requests in the future. And so like for example, Martha Stewart uh

so like for example, Martha Stewart uh was the first self-made female

was the first self-made female billionaire. And I think there's there's

billionaire. And I think there's there's a huge amount of reasons for that. And

a huge amount of reasons for that. And one of the biggest ones is that she

one of the biggest ones is that she literally gave people recipes and they

literally gave people recipes and they followed their recipes and they had a

followed their recipes and they had a good thing happen. And then people told

good thing happen. And then people told them they were great and this cake was

them they were great and this cake was great and this lasagna was amazing.

great and this lasagna was amazing. Their family, their friends, they got

Their family, their friends, they got they also got status. So a massive good

they also got status. So a massive good thing happened after following explicit

thing happened after following explicit directions. And so then when she said

directions. And so then when she said follow my next directions and by this

follow my next directions and by this thing, people said okay the last 10

thing, people said okay the last 10 times I did it, it worked. I'll do this

times I did it, it worked. I'll do this too. And so that's why she had so much

too. And so that's why she had so much influence. The next is credibility,

influence. The next is credibility, which is do you have proof? Right? Now,

which is do you have proof? Right? Now, all of these can um happen at the same

all of these can um happen at the same time or separately. So, I'm trying to

time or separately. So, I'm trying to give more isolated examples for each of

give more isolated examples for each of them, but like one thing can check

them, but like one thing can check multiple boxes. So, if I say, "Hey, I

multiple boxes. So, if I say, "Hey, I sold a company for $46.2 million." I

sold a company for $46.2 million." I have money, which is where the status

have money, which is where the status comes from, but I also have credibility

comes from, but I also have credibility that the stuff that I do works. I

that the stuff that I do works. I wouldn't have power yet though until I

wouldn't have power yet though until I say, "Hey, if you take what you're

say, "Hey, if you take what you're currently doing and then add a bonus,

currently doing and then add a bonus, urgency, scarcity, a guarantee, you

urgency, scarcity, a guarantee, you know, think about a value equation, all

know, think about a value equation, all of a sudden you can sell it for way more

of a sudden you can sell it for way more money." And then you followed those

money." And then you followed those instructions and then you do make more

instructions and then you do make more money. Then you're like now I'll be more

money. Then you're like now I'll be more likely to comply with this person's

likely to comply with this person's requests in the future. And so then that

requests in the future. And so then that person gains influence. And then the the

person gains influence. And then the the fourth L is likeness, right? Do they

fourth L is likeness, right? Do they look like me, right? Do they act like

look like me, right? Do they act like me? Which is both, you know, physical

me? Which is both, you know, physical but also psychographic. Like do they

but also psychographic. Like do they have they share the same values as me?

have they share the same values as me? Are they similar? And so if I have two

Are they similar? And so if I have two people that both have SPC, so they have

people that both have SPC, so they have status, they have power, they have

status, they have power, they have credibility, and then one of them just

credibility, and then one of them just also looks like me, I'm more likely to

also looks like me, I'm more likely to listen to that person. So each of these

listen to that person. So each of these are additives. So if you have all four,

are additives. So if you have all four, you'll be more influential, right? And

you'll be more influential, right? And so, um, lading this back up to

so, um, lading this back up to conversion, we think, okay, well, if I'm

conversion, we think, okay, well, if I'm going to make content with the purpose

going to make content with the purpose of conversion, then I want to make stuff

of conversion, then I want to make stuff that demonstrates these four things,

that demonstrates these four things, right? And so, that is why educators

right? And so, that is why educators typically have significantly smaller

typically have significantly smaller audiences, but can usually

audiences, but can usually >> generate a lot more money than

>> generate a lot more money than entertainers can. And entertainers

entertainers can. And entertainers typically can monetize almost

typically can monetize almost exclusively through sponsorships as the

exclusively through sponsorships as the most efficient means or vehicle. Now,

most efficient means or vehicle. Now, where does an entertainer have

where does an entertainer have influence? Rihanna is beautiful and so

influence? Rihanna is beautiful and so she does have credibility in terms of

she does have credibility in terms of beauty. She does have um and then

beauty. She does have um and then especially if she starts making content

especially if she starts making content around that stuff, she takes her

around that stuff, she takes her entertainment audience but she's talking

entertainment audience but she's talking about something she has credibility to

about something she has credibility to and then she can add power to that

and then she can add power to that because people start following what she

because people start following what she does, right? And then they start looking

does, right? And then they start looking a good way and then they say, you know

a good way and then they say, you know what, she really does know what she's

what, she really does know what she's talking about here. And then all of a

talking about here. And then all of a sudden when she does point people to,

sudden when she does point people to, you know, to to a thing that that that

you know, to to a thing that that that they can buy, then they're more likely

they can buy, then they're more likely to do so. And so it's it's it's how do

to do so. And so it's it's it's how do we merge those two things together? And

we merge those two things together? And then when we're making the content, and

then when we're making the content, and I think a lot of people we're starting

I think a lot of people we're starting out are very obsessed with views, which

out are very obsessed with views, which I would strongly recommend, especially

I would strongly recommend, especially in this interest media time, that it's

in this interest media time, that it's it's so irrelevant. And what I mean by

it's so irrelevant. And what I mean by that is if we think, all right, I want

that is if we think, all right, I want to I want to start a a bait and tackle

to I want to start a a bait and tackle drop shipping business, whatever, right?

drop shipping business, whatever, right? You for for fishermen. Well, if I just

You for for fishermen. Well, if I just start making videos on philosophy, I

start making videos on philosophy, I might get way more views than I do if I

might get way more views than I do if I make, you know, videos on bait and

make, you know, videos on bait and tackle stuff. But the likelihood that

tackle stuff. But the likelihood that the people who are watching philosophy

the people who are watching philosophy also want bait and tackle is very low.

also want bait and tackle is very low. And because the content is now the

And because the content is now the targeting for social, like if if

targeting for social, like if if anyone's run ads before, you have to

anyone's run ads before, you have to select, okay, I think I want 42 year

select, okay, I think I want 42 year olds and I want, you know, men and I

olds and I want, you know, men and I want, you know, whatever, right, as you

want, you know, whatever, right, as you go through it. But the thing is is that

go through it. But the thing is is that the algorithms are so good and the AI is

the algorithms are so good and the AI is so good at understanding what the

so good at understanding what the content is about. And they also know

content is about. And they also know what type of people consume this type of

what type of people consume this type of content, they just do the targeting for

content, they just do the targeting for you. And so if you want to reach a

you. And so if you want to reach a certain type of person, you just only

certain type of person, you just only make content that that certain type of

make content that that certain type of person wants to consume. It's actually

person wants to consume. It's actually easier now than it was before. And so

easier now than it was before. And so you can have a 40,000 person audience,

you can have a 40,000 person audience, but that 40,000 person audience might be

but that 40,000 person audience might be made up entirely of fishermen who buy

made up entirely of fishermen who buy tackle, which I'll bet you you'll crush.

tackle, which I'll bet you you'll crush. >> And so, um, that is how I kind of see

>> And so, um, that is how I kind of see the the the quote future of of media at

the the the quote future of of media at least, um, is that if you want to have

least, um, is that if you want to have maximum persuasion or conversion power,

maximum persuasion or conversion power, we want to make content that is

we want to make content that is explicitly for a specific audience. And

explicitly for a specific audience. And we want to demonstrate the proof that

we want to demonstrate the proof that we've done, right? We want to have

we've done, right? We want to have things that they want. We want to give

things that they want. We want to give them instructions that they follow that

them instructions that they follow that good things will happen for them. and we

good things will happen for them. and we want to look like them. And if you do

want to look like them. And if you do that, you have somebody who's gonna make

that, you have somebody who's gonna make a lot of money from an audience.

a lot of money from an audience. >> That last point is super interesting as

>> That last point is super interesting as well. How do I make myself look more

well. How do I make myself look more like my audience? And I think

like my audience? And I think relatability

relatability >> and humanizing yourself is one of the

>> and humanizing yourself is one of the great ways to do that.

great ways to do that. >> I think it's a very fair point. I mean,

>> I think it's a very fair point. I mean, I also think it's not just physical

I also think it's not just physical traits. So, you know, let's say that you

traits. So, you know, let's say that you don't look like the audience that you

don't look like the audience that you want physically. what are the values

want physically. what are the values that that audience has that you can have

that that audience has that you can have them see themselves in you and and you

them see themselves in you and and you know it's kind of like whether or not

know it's kind of like whether or not you like the guy who cares but let's say

you like the guy who cares but let's say you know Trump for instance really looks

you know Trump for instance really looks not a lot like his audience

not a lot like his audience predominantly you know in suits and ties

predominantly you know in suits and ties constantly sort of a blueblood

constantly sort of a blueblood billionaire from the east coast how does

billionaire from the east coast how does he associate with this group of people

he associate with this group of people when really he doesn't look like them on

when really he doesn't look like them on average well it's because they believe

average well it's because they believe that he has a similar moral compass to

that he has a similar moral compass to them they believe that he has similar

them they believe that he has similar ethics to them. And so I don't think

ethics to them. And so I don't think that creators have leaned into this

that creators have leaned into this enough. And I don't mean to become

enough. And I don't mean to become clickbaity or political or or divisive

clickbaity or political or or divisive or anything like that. I mean that it is

or anything like that. I mean that it is rare to see people in business h take a

rare to see people in business h take a stance that could hurt their business

stance that could hurt their business values, for instance. And Chris and I

values, for instance. And Chris and I have a rule which is we don't have close

have a rule which is we don't have close friends that haven't done something

friends that haven't done something publicly that could be against their

publicly that could be against their best interests. I I just don't want

best interests. I I just don't want friends that don't have that that

friends that don't have that that haven't done that because I think that

haven't done that because I think that the world is really hard and I want to

the world is really hard and I want to see if somebody's going to have like

see if somebody's going to have like moral fiber before I become quite close

moral fiber before I become quite close with them.

with them. >> Super interesting.

>> Super interesting. >> Yeah. And so I I think you could do that

>> Yeah. And so I I think you could do that as somebody who is a content creator

as somebody who is a content creator today like be value aligned with your

today like be value aligned with your users and show that and um also to the

users and show that and um also to the point about the algorithm becoming about

point about the algorithm becoming about interest based. It's also becoming value

interest based. It's also becoming value based. We're seeing echo chambers emerge

based. We're seeing echo chambers emerge around ways of thinking, right?

around ways of thinking, right? >> Well, I the content that I saw of you

>> Well, I the content that I saw of you that most interested me was when you

that most interested me was when you were talking about um how important

were talking about um how important ownership is and you were talking about

ownership is and you were talking about just the philosophy of ownership and you

just the philosophy of ownership and you said there's a group of people who want

said there's a group of people who want you to own nothing and be happy about it

you to own nothing and be happy about it >> and I was like I really resonate with

>> and I was like I really resonate with that. I want people to own their

that. I want people to own their businesses and I want them to own their

businesses and I want them to own their stuff. And I liked the fact that you

stuff. And I liked the fact that you were standing in front of a huge

were standing in front of a huge audience taking that position and

audience taking that position and everyone knew that it was a little bit

everyone knew that it was a little bit of a a position to take and it wasn't

of a a position to take and it wasn't specifically content about how to build

specifically content about how to build a business, but you were sharing

a business, but you were sharing something about yourself.

something about yourself. >> I have a belief you don't actually ever

>> I have a belief you don't actually ever sell anybody anything. You only find

sell anybody anything. You only find those who are already predisposed to

those who are already predisposed to want the thing that you are selling.

want the thing that you are selling. >> And if you believe that, then I think

>> And if you believe that, then I think your business gets easier too, easier to

your business gets easier too, easier to target people. That's why I never kind

target people. That's why I never kind of got off on that content. You know,

of got off on that content. You know, it's really big online on sales where

it's really big online on sales where it's like here's how you close them, you

it's like here's how you close them, you know, here's how you do this. Here's how

know, here's how you do this. Here's how you you switch them and you give them a

you you switch them and you give them a hot dog and then they buy the car

hot dog and then they buy the car because you gave them the hot dog

because you gave them the hot dog because of reciprocity and you're like,

because of reciprocity and you're like, "Huh, I've never bought a car because

"Huh, I've never bought a car because somebody gave me a hot dog." But

somebody gave me a hot dog." But apparently this is what works on

apparently this is what works on Instagram. And so I don't think that's

Instagram. And so I don't think that's actually true. I think you just find

actually true. I think you just find people at a trigger moment that they

people at a trigger moment that they want something and then you give it to

want something and then you give it to them.

them. >> Mhm. Regarding content, for me

>> Mhm. Regarding content, for me personally,

personally, I find that the only reason I'm going to

I find that the only reason I'm going to create content is if it's in alignment

create content is if it's in alignment to a mission that I've got. So I don't

to a mission that I've got. So I don't actually want to create content. I don't

actually want to create content. I don't want to be out there naturally. I would

want to be out there naturally. I would much rather be a way more private

much rather be a way more private person. Um, and you won't you won't find

person. Um, and you won't you won't find a lot of stuff about my family or my my

a lot of stuff about my family or my my kids, my you know, very rarely do I post

kids, my you know, very rarely do I post anything like any of that sort of stuff.

anything like any of that sort of stuff. But for me, I do it in alignment with

But for me, I do it in alignment with the mission. I really believe that if

the mission. I really believe that if you're on a mission, you've got

you're on a mission, you've got something you want to achieve in the

something you want to achieve in the world, you're going to need other people

world, you're going to need other people to believe in it. You're going to need

to believe in it. You're going to need other people to get involved. Um, you're

other people to get involved. Um, you're going to want to hire talented people.

going to want to hire talented people. Those talented people are going to want

Those talented people are going to want to, you know, see you online first. And

to, you know, see you online first. And it's all about the building

it's all about the building relationships at scale. And content is

relationships at scale. And content is just people discovering someone new like

just people discovering someone new like you would a friend and then getting to

you would a friend and then getting to know someone. And I think the big play

know someone. And I think the big play in a postAI world is having really deep

in a postAI world is having really deep relationships with a lot of people using

relationships with a lot of people using long form content

long form content >> uh where you share who you are, what

>> uh where you share who you are, what you're about, what's your mission,

you're about, what's your mission, what's your origin story, what's your

what's your origin story, what's your vision,

vision, >> um what are your values and people then

>> um what are your values and people then say in a very noisy world I will pay

say in a very noisy world I will pay attention to what Steven says.

attention to what Steven says. >> I agree. And so to give my answer to

>> I agree. And so to give my answer to this question, my thesis here in the

this question, my thesis here in the world of AI is actually that if you look

world of AI is actually that if you look at who has the most loyal engaged fan

at who has the most loyal engaged fan bases, it's not necessarily podcasters.

bases, it's not necessarily podcasters. We're doing pretty well, but it's not

We're doing pretty well, but it's not podcasters. Podcasters can sell out

podcasters. Podcasters can sell out arenas and when they go on tour, they

arenas and when they go on tour, they can sell out globally. Streamers.

can sell out globally. Streamers. >> And it's I think it's because of this

>> And it's I think it's because of this the depth of the parasocial relationship

the depth of the parasocial relationship is the the equity value of the

is the the equity value of the connection. And I was sat with a

connection. And I was sat with a streamer who's 18 years old, massive in

streamer who's 18 years old, massive in Europe. And we were on we're playing at

Europe. And we were on we're playing at Old Trafford for the for the soccer aid.

Old Trafford for the for the soccer aid. And I got just got to sit down with him.

And I got just got to sit down with him. So I was like, "Explain to me what you

So I was like, "Explain to me what you do." He goes, "So I wake up in the

do." He goes, "So I wake up in the morning." I go, "Then what?" He goes, "I

morning." I go, "Then what?" He goes, "I sit there." And I go, "For how long?" He

sit there." And I go, "For how long?" He goes, "Eight hours." And I go, "What do

goes, "Eight hours." And I go, "What do you do?" He goes, "Like nothing." And I

you do?" He goes, "Like nothing." And I go, "How many people tune in?" He's

go, "How many people tune in?" He's like, "100,000." I'm like, "Concurrently

like, "100,000." I'm like, "Concurrently 100,000 people sit there with you." He

100,000 people sit there with you." He goes, "Yeah, people are quite lonely. I

goes, "Yeah, people are quite lonely. I sit there and what we do is we watch TV

sit there and what we do is we watch TV together." Now the So when when we got

together." Now the So when when we got to the the stadium, 70,000 people in the

to the the stadium, 70,000 people in the stadium, we're playing soccer. The

stadium, we're playing soccer. The stadium when they announced your name,

stadium when they announced your name, the size of the cheer correlates to the

the size of the cheer correlates to the amount of hours you spend with your

amount of hours you spend with your audience. The streamers are the

audience. The streamers are the celebrities.

celebrities. >> The podcasters sometimes come in, but

>> The podcasters sometimes come in, but the the actors almost, you know, but the

the the actors almost, you know, but the but the streamers own the stadium. When

but the streamers own the stadium. When you play Soccer Aid, it doesn't matter

you play Soccer Aid, it doesn't matter how much money you've got or how big

how much money you've got or how big your following is, the streamers are the

your following is, the streamers are the ones. the streamers have this particular

ones. the streamers have this particular streamer has less of an audience than

streamer has less of an audience than me, but he sits with them for 7 to 8

me, but he sits with them for 7 to 8 hours a day,

hours a day, >> deep connection.

>> deep connection. >> So, if we think about depth as the as

>> So, if we think about depth as the as the metric that you you can you can

the metric that you you can you can exchange on, especially if you have

exchange on, especially if you have authority in a niche and you're

authority in a niche and you're educating, as Alex was saying,

educating, as Alex was saying, >> that's why I think a lot about my behind

>> that's why I think a lot about my behind thes scenes channel. I think it's when

thes scenes channel. I think it's when we go on tour, it's so funny. We we do

we go on tour, it's so funny. We we do we did a tour in Australia and

we did a tour in Australia and remarkably I'd say about 50% of people

remarkably I'd say about 50% of people were talking to me about Dario and then

were talking to me about Dario and then 50% of people were talking to me about

50% of people were talking to me about behind the diary which is the behind the

behind the diary which is the behind the scenes channel where you get to know me

scenes channel where you get to know me a bit better

a bit better >> and that that channel has a fraction of

>> and that that channel has a fraction of the viewership and actually that same

the viewership and actually that same thesis is the reason I started

thesis is the reason I started podcasting. I was doing Facebook watch

podcasting. I was doing Facebook watch videos. They were getting tens of

videos. They were getting tens of millions of views, which by the way, no

millions of views, which by the way, no one remembers because no one remembered

one remembers because no one remembered any of them. And no one came up to me in

any of them. And no one came up to me in the street and said, "I love that

the street and said, "I love that two-minute viral philosophical video you

two-minute viral philosophical video you made about motivational fluff." No one

made about motivational fluff." No one ever said that. Then I started this

ever said that. Then I started this podcast and it got a thousand downloads.

podcast and it got a thousand downloads. And it felt like I was like Oprah

And it felt like I was like Oprah Winfrey. Like people were coming up to

Winfrey. Like people were coming up to me and I was like, "Oh, there's this

me and I was like, "Oh, there's this interesting correlation between like the

interesting correlation between like the depth of the medium and the resonance

depth of the medium and the resonance and the memorability and therefore the

and the memorability and therefore the value." So just pursue depth as much as

value." So just pursue depth as much as you can. the strength of the parasocial

you can. the strength of the parasocial relationship

relationship >> part of the brain that has short-term

>> part of the brain that has short-term memory. We've driven a truck through

memory. We've driven a truck through that.

that. >> You know, we've now got just hundreds of

>> You know, we've now got just hundreds of things a day that hit that. But then

things a day that hit that. But then there's this other part of the brain

there's this other part of the brain where I've spent seven hours with

where I've spent seven hours with someone and if that's the depth.

someone and if that's the depth. >> Are you guys thinking about that?

>> Are you guys thinking about that? >> Because you guys, you all make content

>> Because you guys, you all make content which is educational but is less

which is educational but is less personal. And I mean you you two

personal. And I mean you you two podcast, Alex and Cody, you both

podcast, Alex and Cody, you both podcast. You don't podcast yourself.

podcast. You don't podcast yourself. >> I'm a guest.

>> I'm a guest. >> You're a guest.

>> You're a guest. but you don't like run your own podcast.

but you don't like run your own podcast. So, are you thinking about a deeper

So, are you thinking about a deeper format for for yourselves? What are you

format for for yourselves? What are you thinking about?

thinking about? >> Yeah. Well, there's two things I want to

>> Yeah. Well, there's two things I want to talk about there. One, I think it's it's

talk about there. One, I think it's it's depth, but I would also wonder if it's

depth, but I would also wonder if it's not rawness like in an era in which we

not rawness like in an era in which we cannot trust what we see anymore because

cannot trust what we see anymore because of AI and anything can be recreated,

of AI and anything can be recreated, reproduced, and overproduced.

reproduced, and overproduced. Increasingly, a stream is interesting

Increasingly, a stream is interesting because it is raw. it is it is for a

because it is raw. it is it is for a thous% whatever is happening on there is

thous% whatever is happening on there is happening in real time and thus we can

happening in real time and thus we can actually trust it and so I think as I

actually trust it and so I think as I mean we've all seen it content has

mean we've all seen it content has gotten so produced and overdone and that

gotten so produced and overdone and that actually I think decreases trust because

actually I think decreases trust because we can't tell if something is real or

we can't tell if something is real or not because it's been edited and

not because it's been edited and filtered and overlaid

filtered and overlaid >> we say with our 40 person teams yeah

>> we say with our 40 person teams yeah great

great >> but it's true but think about think

>> but it's true but think about think about the content even like this is like

about the content even like this is like sort of tact practical, but um maybe a

sort of tact practical, but um maybe a year ago, the big content uh change in

year ago, the big content uh change in video on Instagram was that you had a

video on Instagram was that you had a lot of um B-roll and images overlaid on

lot of um B-roll and images overlaid on top of videos. And I don't know if you

top of videos. And I don't know if you guys have noted, but that doesn't work

guys have noted, but that doesn't work very well anymore. Actually, the more

very well anymore. Actually, the more that you have third-party assets in your

that you have third-party assets in your video and it's been overdone, the less

video and it's been overdone, the less the video works,

the video works, >> the more you're just walking along with

>> the more you're just walking along with your handout,

your handout, >> right? Because it's it's more real. So,

>> right? Because it's it's more real. So, I think it might actually be like depth

I think it might actually be like depth and rawness.

and rawness. >> Rawness. Yeah. Authenticity, I guess.

>> Rawness. Yeah. Authenticity, I guess. >> Yeah. [ __ ] hate that word, but yes.

>> Yeah. [ __ ] hate that word, but yes. >> Yeah. It's like 60 minutes versus Joe

>> Yeah. It's like 60 minutes versus Joe Rogan, you know? 60 minutes is like just

Rogan, you know? 60 minutes is like just it's just

it's just >> no cuts.

>> no cuts. >> No cuts. Yeah. Yeah.

>> No cuts. Yeah. Yeah. >> And then when it comes to am I thinking

>> And then when it comes to am I thinking about this for our channel? Yeah. I

about this for our channel? Yeah. I mean, I think about it. We we have

mean, I think about it. We we have something that we teach everybody which

something that we teach everybody which is like the marketing affinity loop. And

is like the marketing affinity loop. And and basically it goes like this. I'll

and basically it goes like this. I'll show the graph so you can see it, but

show the graph so you can see it, but you start with awareness, right? And

you start with awareness, right? And that awareness is what we're all talking

that awareness is what we're all talking about. How do we get more people to just

about. How do we get more people to just see us? And then we go to consideration.

see us? And then we go to consideration. Okay, I maybe I like this person. Maybe

Okay, I maybe I like this person. Maybe I'll follow them. I'll give them a quick

I'll follow them. I'll give them a quick follow. And then we go, well, I actually

follow. And then we go, well, I actually I like them. I follow them. And I might

I like them. I follow them. And I might buy something from them. Okay, that's

buy something from them. Okay, that's interesting. And then I might not only

interesting. And then I might not only buy something from them, but advocate

buy something from them, but advocate for them. Write a testimonial, a review,

for them. Write a testimonial, a review, something like that. And then finally, I

something like that. And then finally, I might be loyal to them. Aka, I'll refer

might be loyal to them. Aka, I'll refer a friend. I'll sign up for their

a friend. I'll sign up for their year-long program. I'll buy again and

year-long program. I'll buy again and again. And so, we go from awareness to

again. And so, we go from awareness to consideration to purchase to advocacy to

consideration to purchase to advocacy to loyalty. And like, if you can get most

loyalty. And like, if you can get most people stop at awareness. Very few

people stop at awareness. Very few people can get somebody to go from

people can get somebody to go from awareness to purchase. Even fewer people

awareness to purchase. Even fewer people can get them to advocate for them, leave

can get them to advocate for them, leave a review, and the very very fewest refer

a review, and the very very fewest refer a friend. And so like the holy grail of

a friend. And so like the holy grail of business is always have your clients

business is always have your clients tell other people nice things about you.

tell other people nice things about you. And so I think in content, what I think

And so I think in content, what I think about is I don't always care that people

about is I don't always care that people buy things from me at this point. Like I

buy things from me at this point. Like I I love money, don't get me wrong. I want

I love money, don't get me wrong. I want to keep making it, but I actually really

to keep making it, but I actually really care that they're loyal and they tell

care that they're loyal and they tell other people about what we're doing. And

other people about what we're doing. And that is something we now measure for

that is something we now measure for videos. We can actually now measure with

videos. We can actually now measure with like a little UTM link how many of all

like a little UTM link how many of all of our videos get shared and how many of

of our videos get shared and how many of those shares actually go to a a purchase

those shares actually go to a a purchase or something that goes a little bit

or something that goes a little bit deeper. And so I I am thinking about

deeper. And so I I am thinking about that. But then I think you also have to

that. But then I think you also have to decide what's your personal line is. So

decide what's your personal line is. So for me, I can't imagine wanting to

for me, I can't imagine wanting to stream all of my life continuously

stream all of my life continuously because I'm not sure that's good for the

because I'm not sure that's good for the audience actually. I think they should

audience actually. I think they should live not watch. So it's like I just have

live not watch. So it's like I just have a line that like I kind of don't want to

a line that like I kind of don't want to cross.

cross. >> Yeah.

>> Yeah. >> And Chris and I actually have a rule

>> And Chris and I actually have a rule too. We only post so much about our

too. We only post so much about our relationship. We actually because it

relationship. We actually because it always does well. So the team's like

always does well. So the team's like just full send Chris shirtless nipples

just full send Chris shirtless nipples every day. The internet loves it. And

every day. The internet loves it. And and and Chris has been really good about

and and Chris has been really good about saying no, we have to keep some things

saying no, we have to keep some things sacraant. And so I think you have to

sacraant. And so I think you have to decide how deep you want to go down the

decide how deep you want to go down the rabbit hole in order to win.

rabbit hole in order to win. >> Yeah. I've I've been the same with my

>> Yeah. I've I've been the same with my kids. it's their decision as to whether

kids. it's their decision as to whether they want to build a profile and how

they want to build a profile and how they want to build it. So you won't, you

they want to build it. So you won't, you know, I won't put them in that position.

know, I won't put them in that position. The depth that I'm loving is writing

The depth that I'm loving is writing books because someone who reads a book

books because someone who reads a book like you really get to go deep with a

like you really get to go deep with a book. Um, and also live experiences. So

book. Um, and also live experiences. So every year for the last four years, I've

every year for the last four years, I've taken about 80 of my clients to the uh

taken about 80 of my clients to the uh to the snow and we go skiing. and those

to the snow and we go skiing. and those 80 clients who if if someone has gone on

80 clients who if if someone has gone on my ski trip, the level of loyalty and

my ski trip, the level of loyalty and depth because we've shared fund

depth because we've shared fund together, I'm about to take 30 clients

together, I'm about to take 30 clients to Neker Island and spend a week with uh

to Neker Island and spend a week with uh Sir Richard. And I' I'm convinced that

Sir Richard. And I' I'm convinced that just doing that with 30 people will

just doing that with 30 people will build, you know, lifelong like

build, you know, lifelong like friendships. So this idea that like

friendships. So this idea that like there, you know, that you do stuff in

there, you know, that you do stuff in the online and offline world, you know,

the online and offline world, you know, that you actually figure out who are the

that you actually figure out who are the people who are at the core group, those

people who are at the core group, those real uh dieh hard fans, and then let's

real uh dieh hard fans, and then let's do something together and and and do fun

do something together and and and do fun stuff together. Go skiing, go to

stuff together. Go skiing, go to islands, go sailing, that sort of stuff.

islands, go sailing, that sort of stuff. >> Alex, I see you wrote uh it looked like

>> Alex, I see you wrote uh it looked like you drew the universe or something.

you drew the universe or something. >> Oh, I was thinking about um again, it

>> Oh, I was thinking about um again, it was we're just talking about like

was we're just talking about like authenticity. Um, and so with each with

authenticity. Um, and so with each with each of like SPCL, right, all of them

each of like SPCL, right, all of them exist in a continuum, right? And so I

exist in a continuum, right? And so I can say credibility. I could say, "Hey,

can say credibility. I could say, "Hey, I sold a company." But I if you see a PR

I sold a company." But I if you see a PR article, that will increase the

article, that will increase the credibility. If you were uh somebody you

credibility. If you were uh somebody you heard about it from somebody else,

heard about it from somebody else, that'll increase the credibility of that

that'll increase the credibility of that specific credibility driven event.

specific credibility driven event. Likeness is the same thing. And so I

Likeness is the same thing. And so I think um like the connection between

think um like the connection between streamers and having huge influences

streamers and having huge influences that they have tremendous likeness and

that they have tremendous likeness and that because they are quote authentic

that because they are quote authentic and that there's very few there's

and that there's very few there's there's very little ability to distort

there's very little ability to distort you have basically when you what you see

you have basically when you what you see is what you get. And so if you're the

is what you get. And so if you're the type of person who likes that particular

type of person who likes that particular streamer then you'll have super strong

streamer then you'll have super strong you know affinity towards them and

you know affinity towards them and you'll be likely to you know comply with

you'll be likely to you know comply with their requests like show up to a stadium

their requests like show up to a stadium so that you can support me. Um but you

so that you can support me. Um but you know even authenticity is again a term

know even authenticity is again a term it's like how do you define authenticity

it's like how do you define authenticity right which I see is how you how you act

right which I see is how you how you act when you have no risk of punishment and

when you have no risk of punishment and so

so different way of saying this is like how

different way of saying this is like how do you act when you're alone when no one

do you act when you're alone when no one else is around and so I see the

else is around and so I see the discrepancy between how you behave when

discrepancy between how you behave when you're alone and how you behave in

you're alone and how you behave in public as basically your authenticity

public as basically your authenticity you know score right the question is or

you know score right the question is or the problem is that no one really knows

the problem is that no one really knows how you behave when you're alone and so

how you behave when you're alone and so >> unless you're

>> unless you're unless you're like streaming all the

unless you're like streaming all the time

time >> right yeah and So,

>> right yeah and So, >> so you're saying authenticity is that

>> so you're saying authenticity is that there's not a difference between how you

there's not a difference between how you act when there's when there's no risk of

act when there's when there's no risk of punishment and how you act normally. Is

punishment and how you act normally. Is that okay? Got it.

that okay? Got it. >> Right. And I think that also being like

>> Right. And I think that also being like very candid for all of us is like they

very candid for all of us is like they were like sure we have audiences that

were like sure we have audiences that can punish us with their comments I

can punish us with their comments I guess but our like we've all built

guess but our like we've all built enough of call it a fortress if you will

enough of call it a fortress if you will of currency network relationships etc

of currency network relationships etc that like even even within our companies

that like even even within our companies like if you go into the room like I can

like if you go into the room like I can be really authentic in my company

be really authentic in my company because no one can fire me right like my

because no one can fire me right like my risk of punishment is low is is lower

risk of punishment is low is is lower than saying employees is and So, it's a

than saying employees is and So, it's a a relatively I'd never use this word,

a relatively I'd never use this word, but it's a relatively privileged, you

but it's a relatively privileged, you know, um position to be in to to be more

know, um position to be in to to be more authentic because no one can really

authentic because no one can really punish you. And I think this is kind of

punish you. And I think this is kind of the the essence of the like [ __ ] you

the the essence of the like [ __ ] you money that people want to get to, which

money that people want to get to, which is like I just want to be me, but I

is like I just want to be me, but I can't be me because I have this risk of

can't be me because I have this risk of punishment.

punishment. >> And so, um since degrees of freedom

>> And so, um since degrees of freedom basically, um I think your happiness is

basically, um I think your happiness is is very correlated with your degrees of

is very correlated with your degrees of freedom.

freedom. >> So, Elon's authentic.

>> So, Elon's authentic. >> I mean, I don't think anyone would argue

>> I mean, I don't think anyone would argue that he's not authentic. They might not

that he's not authentic. They might not agree with him, but I don't think they

agree with him, but I don't think they think that he's he's trying to pull one.

think that he's he's trying to pull one. >> I do think that when like if you're

>> I do think that when like if you're going to go online, one of the ways to

going to go online, one of the ways to inoculate yourself against being

inoculate yourself against being cancelled or to inoculate yourself

cancelled or to inoculate yourself against caring so much is to do

against caring so much is to do ridiculous things every so often that

ridiculous things every so often that are super authentic to who you are out

are super authentic to who you are out loud because then what happens is the

loud because then what happens is the people that hate you, they leave. Uh and

people that hate you, they leave. Uh and the people that like you kind of like

the people that like you kind of like you a little bit more or trust you a

you a little bit more or trust you a little bit more for it. So I think um

little bit more for it. So I think um you know one of the things that that I

you know one of the things that that I do not really on purpose but it it is

do not really on purpose but it it is just like it's like getting a vaccine.

just like it's like getting a vaccine. You go out on the internet and you say

You go out on the internet and you say something that you know other people are

something that you know other people are not going to like but you believe

not going to like but you believe strongly in. And when you do that kind

strongly in. And when you do that kind of consistently over time I also think

of consistently over time I also think that increases your trust because we've

that increases your trust because we've all met like other creators that you're

all met like other creators that you're like

like >> ah man like you're just never going to

>> ah man like you're just never going to say anything that's not PC. Like I can

say anything that's not PC. Like I can think of two in my head where I'm like

think of two in my head where I'm like they're never going to say anything and

they're never going to say anything and if it could hurt their audience, they're

if it could hurt their audience, they're not going to say it. And that just

not going to say it. And that just decreases my trust level. And I think

decreases my trust level. And I think the audience is really smart. People are

the audience is really smart. People are smart. And so um I think you should

smart. And so um I think you should inoculate yourself more often.

inoculate yourself more often. >> Before we move on to a little game that

>> Before we move on to a little game that I've prepared for us here, um I you're

I've prepared for us here, um I you're all very good at pitching and you all

all very good at pitching and you all have your own frameworks for pitching.

have your own frameworks for pitching. >> So I wanted to to pause on that for a

>> So I wanted to to pause on that for a second. What is Daniel? What is your

second. What is Daniel? What is your framework for pitching a business or an

framework for pitching a business or an idea? There there's two things to start

idea? There there's two things to start with which I believe that

with which I believe that entrepreneurship is the journey of a

entrepreneurship is the journey of a thousand pitches. That basically what we

thousand pitches. That basically what we do as entrepreneurs is we pitch stuff

do as entrepreneurs is we pitch stuff into existence. Um and the penalty for

into existence. Um and the penalty for an average pitch is that you do a

an average pitch is that you do a thousand pitches and you get nothing to

thousand pitches and you get nothing to show for it at the end of it. And the

show for it at the end of it. And the payoff for a great pitch is that you do

payoff for a great pitch is that you do a thousand pitches and you end up with

a thousand pitches and you end up with 10 to$100 million. You end up with an

10 to$100 million. You end up with an amazing team of people and lots of

amazing team of people and lots of customers and everything everything's

customers and everything everything's great. I think treat entrepreneurship as

great. I think treat entrepreneurship as the journey of a thousand pitches and

the journey of a thousand pitches and also treat pitching as

also treat pitching as this magical thing where you get what

this magical thing where you get what you pitch for and you can't switch it

you pitch for and you can't switch it off. So for example, if you say the

off. So for example, if you say the economy is bad, the economy is bad, the

economy is bad, the economy is bad, the economy is bad, as if by magic the

economy is bad, as if by magic the economy is going to be bad. Uh if you

economy is going to be bad. Uh if you say I'm seeing lots of opportunities

say I'm seeing lots of opportunities right now, I'm seeing lots of

right now, I'm seeing lots of opportunities right now. You you start

opportunities right now. You you start conversations where people go, oh I I've

conversations where people go, oh I I've seen an opportunity as well. So,

seen an opportunity as well. So, whatever you're out there talking about,

whatever you're out there talking about, you tend to bring those conversations to

you tend to bring those conversations to the surface and then it's a

the surface and then it's a self-fulfilling loop. With that said,

self-fulfilling loop. With that said, you have to have a framework for

you have to have a framework for pitching. If you're going to do a good

pitching. If you're going to do a good pitch, it's got to be a framework. I've

pitch, it's got to be a framework. I've got social pitching framework, scheduled

got social pitching framework, scheduled pitching framework, and sales pitching

pitching framework, and sales pitching framework. So, social pitch, name, same,

framework. So, social pitch, name, same, fame, pain, aim, game.

fame, pain, aim, game. >> What's a social pitch?

>> What's a social pitch? >> Social pitch is on social media.

>> Social pitch is on social media. >> Yeah. or um in a social situation, it's

>> Yeah. or um in a social situation, it's basically a situation where you've got

basically a situation where you've got about 30 seconds before someone thinks

about 30 seconds before someone thinks that you're being uh too obtuse.

that you're being uh too obtuse. >> Okay?

>> Okay? >> Right? So, you've got about 30 seconds

>> Right? So, you've got about 30 seconds of people's attention, and you're going

of people's attention, and you're going to say, "What is your name? What are you

to say, "What is your name? What are you the same as that they already

the same as that they already understand? What makes you famous or

understand? What makes you famous or different? Uh what are you aiming for

different? Uh what are you aiming for right now? What's your bigger game? Or

right now? What's your bigger game? Or what pain do you solve? What are you

what pain do you solve? What are you aiming for? What's your bigger game?"

aiming for? What's your bigger game?" So, there's a few things you can put in

So, there's a few things you can put in there and it rhymes so you can remember

there and it rhymes so you can remember it in a in a social situation. scheduled

it in a in a social situation. scheduled pitches, I always do something called

pitches, I always do something called capstone. And it's clarity, authority,

capstone. And it's clarity, authority, problem, solution, traction, or the why,

problem, solution, traction, or the why, either way, opportunity, next steps, and

either way, opportunity, next steps, and an emotional ending. Right? So, that

an emotional ending. Right? So, that spells out capstone. Now, is that the

spells out capstone. Now, is that the best pitching framework? Maybe, maybe

best pitching framework? Maybe, maybe not. Maybe there's better frameworks.

not. Maybe there's better frameworks. But the point is is that you've got a

But the point is is that you've got a framework that you're not just winging

framework that you're not just winging it. You're not just, you know, randomly

it. You're not just, you know, randomly spewing words. you've actually gone

spewing words. you've actually gone through the process of thinking through

through the process of thinking through your pitch uh in a framework approach.

your pitch uh in a framework approach. One thing that's really fascinating is

One thing that's really fascinating is the three of us have a framework for

the three of us have a framework for everything like we we're just like very

everything like we we're just like very framework thinkers and I've noticed that

framework thinkers and I've noticed that with a lot of entrepreneurs. Um do you

with a lot of entrepreneurs. Um do you guys have pitching frameworks? Be

guys have pitching frameworks? Be shocked if you didn't.

shocked if you didn't. >> Yeah, I do. I mean I think I'm like lazy

>> Yeah, I do. I mean I think I'm like lazy intellectually and frameworks help you

intellectually and frameworks help you remember things and so if you don't have

remember things and so if you don't have very good memory then it's just easy to

very good memory then it's just easy to put it in something that can make sure

put it in something that can make sure that you remember it. It's why when we

that you remember it. It's why when we were in school, you know, they used to

were in school, you know, they used to make us sing songs about how to remember

make us sing songs about how to remember the varian states. If if if I wanted to

the varian states. If if if I wanted to raise a bunch of money from other people

raise a bunch of money from other people that didn't know me and I wanted to

that didn't know me and I wanted to never have a problem raising money

never have a problem raising money again, I didn't want to use any of my

again, I didn't want to use any of my money ever, I would use what I learned

money ever, I would use what I learned in venture capital, which is the

in venture capital, which is the mightest touch. And and basically, I

mightest touch. And and basically, I think you need one of these four in

think you need one of these four in order to raise money. You don't have to

order to raise money. You don't have to have all four, but if you do, that makes

have all four, but if you do, that makes it really, really easy. The easiest one

it really, really easy. The easiest one is profit, right? If you have a business

is profit, right? If you have a business right now that's making money profit in

right now that's making money profit in your pocket, you can raise capital. You

your pocket, you can raise capital. You can raise money from people as long as

can raise money from people as long as that amount that you're raising is

that amount that you're raising is reasonable to the amount of profit. If

reasonable to the amount of profit. If you don't have any profit, but you have

you don't have any profit, but you have growth, let's say like Replet, we were

growth, let's say like Replet, we were talking about a big AI company, great.

talking about a big AI company, great. You can raise a bunch of money if you

You can raise a bunch of money if you got growth, too. The third thing, if you

got growth, too. The third thing, if you don't have either one of those, you

don't have either one of those, you don't have profit, you don't have

don't have profit, you don't have growth, but you have a history. I've

growth, but you have a history. I've sold a company before. I've built this

sold a company before. I've built this before. you can raise purely on the fact

before. you can raise purely on the fact that you've done this before. And if you

that you've done this before. And if you haven't done any of those three, you've

haven't done any of those three, you've done nothing in life, then you need a

done nothing in life, then you need a really good story. And the story is

really good story. And the story is something that you can often raise money

something that you can often raise money off of. So I believe that we are going

off of. So I believe that we are going to create the next XYZ. And if we do

to create the next XYZ. And if we do this thing, then you will all make

this thing, then you will all make money, I will make money, and we will

money, I will make money, and we will change the world together. And so I call

change the world together. And so I call it the touch because I think people who

it the touch because I think people who accum if you can accumulate this over

accum if you can accumulate this over your life, it's not that hard, right? So

your life, it's not that hard, right? So eventually at some point you'll have a a

eventually at some point you'll have a a history which is your proof. Then you

history which is your proof. Then you can craft a story. You'll get better at

can craft a story. You'll get better at it as you continue to grow. You will

it as you continue to grow. You will learn how to get profit in some way. And

learn how to get profit in some way. And because you've driven profit before,

because you've driven profit before, you'll know how to get growth. So I

you'll know how to get growth. So I think like almost any entrepreneur over

think like almost any entrepreneur over time, if you focus on those four things,

time, if you focus on those four things, can raise money. And you start with only

can raise money. And you start with only the story when you have nothing.

the story when you have nothing. >> Alex, I have a lot of pitching.

>> Alex, I have a lot of pitching. >> Yeah.

>> Yeah. >> Um I I I'll say first and foremost like

>> Um I I I'll say first and foremost like if you're trying to sell anyone

if you're trying to sell anyone anything, um proof will always be

anything, um proof will always be promised. And I can say that, you know,

promised. And I can say that, you know, a thousand times in a row. Like you

a thousand times in a row. Like you could literally say nothing, get on

could literally say nothing, get on stage and then just hit next on

stage and then just hit next on testimonials for 60 minutes and you will

testimonials for 60 minutes and you will close a percent. Like literally the last

close a percent. Like literally the last slide just says like go over there to go

slide just says like go over there to go buy something and you could say nothing

buy something and you could say nothing and you will you will sell.

and you will you will sell. >> Why?

>> Why? >> Because I think um proof acts as a as a

>> Because I think um proof acts as a as a as a an an approximation of something

as a an an approximation of something that would happen uh for the prospect.

that would happen uh for the prospect. And so like the only reason that like

And so like the only reason that like that proof works is that they think, oh,

that proof works is that they think, oh, some element of this is like me. And so

some element of this is like me. And so if I do the same thing that this person

if I do the same thing that this person did, and the closer the proof is to the

did, and the closer the proof is to the prospect, the more compelling it is for

prospect, the more compelling it is for that specific prospect, which is like

that specific prospect, which is like when we used to um, you know, run ads

when we used to um, you know, run ads for different markets, we'd go into

for different markets, we'd go into like, you know, an entirely black market

like, you know, an entirely black market and surprise surprise, if we had black

and surprise surprise, if we had black testimonials, the pages would convert

testimonials, the pages would convert better than if we had white testimonials

better than if we had white testimonials and then flip-flop in the other

and then flip-flop in the other direction, too. And so, right, and so we

direction, too. And so, right, and so we want to show as many different types of

want to show as many different types of proof as we possibly can. And obviously,

proof as we possibly can. And obviously, not all proof is created equal. You can

not all proof is created equal. You can have live proof versus recorded proof.

have live proof versus recorded proof. You can have a demonstration of

You can have a demonstration of something that like us using the thing

something that like us using the thing is going to be more compelling uh than

is going to be more compelling uh than than than not using and just describing

than than not using and just describing it, right? If I have a um like and so

it, right? If I have a um like and so there's there's a bunch of things on

there's there's a bunch of things on proof. But that's just like big thing

proof. But that's just like big thing number one. And so that's why for me if

number one. And so that's why for me if somebody's going to sell something, I

somebody's going to sell something, I recommend most people just get five or

recommend most people just get five or 10 clients for free up front with the

10 clients for free up front with the primary purpose of getting proof because

primary purpose of getting proof because you're going to make more money on the

you're going to make more money on the proof than you will have trying to, you

proof than you will have trying to, you know, just get the the tiny amount that

know, just get the the tiny amount that you can charge with absolutely no proof.

you can charge with absolutely no proof. Mhm.

Mhm. >> So, it's like, don't do that. Just get

>> So, it's like, don't do that. Just get 10 and on your 11th, you'll be able to

10 and on your 11th, you'll be able to charge 10 times more because you'll be

charge 10 times more because you'll be able to say, "Hey, look at the 10 people

able to say, "Hey, look at the 10 people that I helped." And realistically,

that I helped." And realistically, you'll get more out of that than they

you'll get more out of that than they will because you probably suck.

will because you probably suck. >> Yeah.

>> Yeah. >> So, so it's probably for everyone's best

>> So, so it's probably for everyone's best interest that you don't charge anything.

interest that you don't charge anything. Um, but from an actual like closing

Um, but from an actual like closing perspective, and I'll talk about this

perspective, and I'll talk about this from a from appointments, I think to use

from a from appointments, I think to use uh Daniel's language, I've taught the

uh Daniel's language, I've taught the closer framework for a very long time.

closer framework for a very long time. Um, which is C L O S E R. Uh, and so C

Um, which is C L O S E R. Uh, and so C is clarify why they're there, which is,

is clarify why they're there, which is, and typically anybody who's going to be

and typically anybody who's going to be in that appointment has taken some

in that appointment has taken some action. So whether that's they

action. So whether that's they responded, you know, to a post, they

responded, you know, to a post, they commented, they liked, they actually, I

commented, they liked, they actually, I mean, if someone's already set an

mean, if someone's already set an appointment or they walked in the door,

appointment or they walked in the door, like there's always some like why'd you

like there's always some like why'd you pick up the phone? Like there's always

pick up the phone? Like there's always some reason like, "Why'd you give me 5

some reason like, "Why'd you give me 5 seconds?" There's always something

seconds?" There's always something they've done that you could say, "Hey,

they've done that you could say, "Hey, so tell me why, right?" And so then

so tell me why, right?" And so then you're you're you're clarifying why

you're you're you're clarifying why they're there, why they're still

they're there, why they're still listening. So you listen to them because

listening. So you listen to them because we often think about sales as me just

we often think about sales as me just hitting you with [ __ ]

hitting you with [ __ ] >> So the perfect salesman says nothing and

>> So the perfect salesman says nothing and only ask questions

only ask questions >> because there's nothing to disagree

>> because there's nothing to disagree with.

with. >> And fundamentally they're going to

>> And fundamentally they're going to believe way more of what they say than

believe way more of what they say than what you say. So you want them to say

what you say. So you want them to say it, not you. And so you clarify whether

it, not you. And so you clarify whether they're there. See,

they're there. See, >> it reminds me of spies. I've interviewed

>> it reminds me of spies. I've interviewed a couple of CIA spies now and every

a couple of CIA spies now and every single one of them, I was expecting some

single one of them, I was expecting some like incredible technique or whatever.

like incredible technique or whatever. They all say, "No, we just spend six to

They all say, "No, we just spend six to eight weeks in the back of the cab

eight weeks in the back of the cab listening to the Iranian taxi driver to

listening to the Iranian taxi driver to figure out what that his son has a

figure out what that his son has a health issue that we can then leverage

health issue that we can then leverage later to get him to turn against his

later to get him to turn against his country." For the first eight weeks,

country." For the first eight weeks, you're just listening to him offload.

you're just listening to him offload. And they're like, "It's crazy how people

And they're like, "It's crazy how people will just offload if you let them.

will just offload if you let them. Everyone wants to talk."

Everyone wants to talk." >> Oh, 100%. So, one is, you know, clarify

>> Oh, 100%. So, one is, you know, clarify where they're l is label them with a

where they're l is label them with a problem that you can solve. So it's like

problem that you can solve. So it's like okay so it sounds like you're here you

okay so it sounds like you're here you respond to my ad you DM me thing or you

respond to my ad you DM me thing or you you whatever it because of this reason

you whatever it because of this reason is that right? Right. So you get

is that right? Right. So you get confirmation on the problem uh which is

confirmation on the problem uh which is L. Then you O which is overview past

L. Then you O which is overview past experiences or past pain. So it's like

experiences or past pain. So it's like what have you done so far to try and

what have you done so far to try and solve this? And this is important

solve this? And this is important because uh motivation is the equal

because uh motivation is the equal opposite of deprivation. So the more

opposite of deprivation. So the more deprive someone is of something the more

deprive someone is of something the more motivated they are to solve it. And so

motivated they are to solve it. And so like if you haven't eaten in an hour

like if you haven't eaten in an hour you're probably not that motivated. If

you're probably not that motivated. If you haven't eaten in two days you're

you haven't eaten in two days you're very motivated. If you haven't slept in,

very motivated. If you haven't slept in, you know a day or you're normal

you know a day or you're normal motivated. I guess that was a bad one.

motivated. I guess that was a bad one. But if you haven't slept in 3 days,

But if you haven't slept in 3 days, you'll be incredibly motivated to sleep.

you'll be incredibly motivated to sleep. And so we want to find we want to find

And so we want to find we want to find what they're deprived of and then try to

what they're deprived of and then try to increase that deprivation uh in the

increase that deprivation uh in the conversation. Basically, uh make them

conversation. Basically, uh make them more aware of the deprivation, the

more aware of the deprivation, the things that they don't have, right? Then

things that they don't have, right? Then once we have, you know, enough

once we have, you know, enough deprivation that it's very clear it's

deprivation that it's very clear it's like, okay, this is this is what why

like, okay, this is this is what why you're here. This is you agreed with

you're here. This is you agreed with this is the problem that you want to

this is the problem that you want to solve. You've tried all these things and

solve. You've tried all these things and it hasn't worked for you. I can imagine

it hasn't worked for you. I can imagine how frustrating that would be. Um S,

how frustrating that would be. Um S, which is then you sell, right? you sell

which is then you sell, right? you sell the vacation, which typically is just

the vacation, which typically is just three points. Um I I usually keep it to

three points. Um I I usually keep it to three cuz most people can't remember

three cuz most people can't remember more than that anyways. And the three

more than that anyways. And the three points are usually you can always find

points are usually you can always find three. And if you need two, you can

three. And if you need two, you can chunk up if you've got five. And if

chunk up if you've got five. And if you've got, you know, two chunk down as

you've got, you know, two chunk down as in like break into smaller pieces. But

in like break into smaller pieces. But like when I was in the fitness world, it

like when I was in the fitness world, it was fitness, nutrition, accountability.

was fitness, nutrition, accountability. If when I was selling, you know,

If when I was selling, you know, mortgage leads, it's like you want the

mortgage leads, it's like you want the leads to be unique, you want them to be

leads to be unique, you want them to be timely, and you want them to be

timely, and you want them to be exclusive, right? And so like or

exclusive, right? And so like or qualified. And so it's like there's

qualified. And so it's like there's always three things that you can usually

always three things that you can usually triangulate. But when you say the three

triangulate. But when you say the three points, you don't then feature, you

points, you don't then feature, you know, Jarble about the the points. You

know, Jarble about the the points. You then just usually put like a one

then just usually put like a one sentence analogy of of what that thing

sentence analogy of of what that thing is. So, it's kind of like this. And so,

is. So, it's kind of like this. And so, these are like little 30 secondond sound

these are like little 30 secondond sound bites to make the three points. That

bites to make the three points. That should never last longer than 90 seconds

should never last longer than 90 seconds cuz um most people waste all this time

cuz um most people waste all this time on the selling part and that doesn't

on the selling part and that doesn't really matter because the more we can

really matter because the more we can talk about them, the more they're going

talk about them, the more they're going to want to buy. Um and then E, like at

to want to buy. Um and then E, like at the end of that, you say, "Cool, ready

the end of that, you say, "Cool, ready to get started, ready to rock and roll,

to get started, ready to rock and roll, ready to start on Monday, whatever it

ready to start on Monday, whatever it is." And then E, E and R around what

is." And then E, E and R around what happens if they say no, right? You

happens if they say no, right? You explain it with their concerns. E, and

explain it with their concerns. E, and then R is you reinforce the decision.

then R is you reinforce the decision. And so R was actually something I added

And so R was actually something I added much later when I was teaching, you

much later when I was teaching, you know, many sales people because um after

know, many sales people because um after they would like explain away and then

they would like explain away and then close, they would just like see you

close, they would just like see you later. I got the credit card. It's like

later. I got the credit card. It's like you're dead to me. Um but the R is like

you're dead to me. Um but the R is like no, no, like reinforce the decision like

no, no, like reinforce the decision like I think it's a great decision. I'm going

I think it's a great decision. I'm going to introduce you to Polly. Paulie's

to introduce you to Polly. Paulie's going to get you onboarded. And then

going to get you onboarded. And then Polly also continues the R and being

Polly also continues the R and being like you know Jack definitely helped you

like you know Jack definitely helped you out. Let me let's get you all squared

out. Let me let's get you all squared away.

away. There's no safe like Simply Safe, the

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And I'm so honored that once again, a company I own can sponsor my podcast. A

company I own can sponsor my podcast. A lot of people say that 70 60 80% of our

lot of people say that 70 60 80% of our communication is body language. Do you

communication is body language. Do you think much about that, Alex? You have a

think much about that, Alex? You have a with or without you energy body

with or without you energy body language. It's a casual It's a very

language. It's a casual It's a very casual body language, which in fact

casual body language, which in fact reinforces your authority in a way. So

reinforces your authority in a way. So do you think about if people are right

do you think about if people are right that 60 or 70% of our communication is

that 60 or 70% of our communication is the things we don't say. Do you think

the things we don't say. Do you think about training people on how to hold

about training people on how to hold themselves, how to be you kind of

themselves, how to be you kind of alluded to something there which I think

alluded to something there which I think people don't think about which is

people don't think about which is actually the less you say sometimes the

actually the less you say sometimes the higher conviction and the more I believe

higher conviction and the more I believe you.

you. >> Yeah.

>> Yeah. >> And some people can oversell because

>> And some people can oversell because >> Yeah. So, I'll So, I'll because I think

>> Yeah. So, I'll So, I'll because I think getting So, I'll just There's so many

getting So, I'll just There's so many variables here, but I'll just try and

variables here, but I'll just try and focus on the ones that um a lot of

focus on the ones that um a lot of people sell over the phone and even via

people sell over the phone and even via Zoom, it's harder to see body language

Zoom, it's harder to see body language as well, which nowadays I think a lot of

as well, which nowadays I think a lot of selling happens in those two

selling happens in those two environments, even more than in person,

environments, even more than in person, even though that's where I came from,

even though that's where I came from, which I actually think is the best place

which I actually think is the best place to learn because you have to control

to learn because you have to control every variable. And then you have far

every variable. And then you have far more leeway on the phone or on Zoom than

more leeway on the phone or on Zoom than you do in person.

you do in person. >> And so, to that extent, um there's

>> And so, to that extent, um there's basically five things you can control

basically five things you can control about how you talk. And so you have your

about how you talk. And so you have your speed of talking, like how t how fast

speed of talking, like how t how fast you talk. You have your cadence. You

you talk. You have your cadence. You have your um basically your um your

have your um basically your um your annunciation, like do I pronounce every

annunciation, like do I pronounce every letter in the words that I'm saying? You

letter in the words that I'm saying? You have the volume that you speak at

have the volume that you speak at because if I talk too low like you on a

because if I talk too low like you on a phone, it doesn't really matter because

phone, it doesn't really matter because they're just going to increase the

they're just going to increase the volume. But if I lower what I'm saying

volume. But if I lower what I'm saying right now, it sounds more important in

right now, it sounds more important in person. It's more important to volume is

person. It's more important to volume is more important in person. And so those

more important in person. And so those first three I consider there's kind of a

first three I consider there's kind of a persuasive tone which all three are

persuasive tone which all three are constant. And the only point of those is

constant. And the only point of those is to maximize comprehension. It's just

to maximize comprehension. It's just that they can hear you, that they can

that they can hear you, that they can understand what you're saying because

understand what you're saying because you're talking in a speed that they can

you're talking in a speed that they can understand. Like I'm somebody who talks

understand. Like I'm somebody who talks fast and I have to I have to pull back

fast and I have to I have to pull back how fast I talk when I'm in like a

how fast I talk when I'm in like a selling situation. There's only two that

selling situation. There's only two that you that I teach sales people to try and

you that I teach sales people to try and actively control, which is going to be

actively control, which is going to be pauses

pauses to draw attention

to draw attention and when do I raise my voice.

and when do I raise my voice. And the reason that those are the only

And the reason that those are the only two things you really need to teach a

two things you really need to teach a salesperson outside of the persuasive

salesperson outside of the persuasive tone, which is that that you're going to

tone, which is that that you're going to talk at a certain speed, which usually

talk at a certain speed, which usually about 150 to 170 words a minute, because

about 150 to 170 words a minute, because that's the amount of speed that most

that's the amount of speed that most people can understand. You're going to

people can understand. You're going to enunciate the words, which is going to

enunciate the words, which is going to force you to actually speak at that

force you to actually speak at that speed.

speed. >> Um, and you're going to talk loud enough

>> Um, and you're going to talk loud enough they can understand you. This sounds

they can understand you. This sounds very simple, right? Like this sounds

very simple, right? Like this sounds like so simple, like I can't believe

like so simple, like I can't believe people don't do this. Except they don't

people don't do this. Except they don't and they don't close. And so the only

and they don't close. And so the only things that you have to teach a

things that you have to teach a salesperson and these are so important.

salesperson and these are so important. Like there's been three independent

Like there's been three independent studies that are like massive

studies that are like massive metaanalyses of sales people,

metaanalyses of sales people, the sales people who one speak less

the sales people who one speak less close more. And number two, the sales

close more. And number two, the sales people who know when to shut up most

people who know when to shut up most importantly after you ask for the sale,

importantly after you ask for the sale, like if you wait 8 seconds after you ask

like if you wait 8 seconds after you ask someone to buy, you close 30% more sales

someone to buy, you close 30% more sales >> if you wait 8 seconds.

>> if you wait 8 seconds. >> Yeah. So you ready to start?

>> Okay. So >> Mhm. And so people they'll like they'll

>> Mhm. And so people they'll like they'll close themselves but the sales people

close themselves but the sales people are so afraid of that silence that they

are so afraid of that silence that they then jump back in. It's like you had the

then jump back in. It's like you had the sale just shut up. And so I used to talk

sale just shut up. And so I used to talk about how emphasis was super important.

about how emphasis was super important. And so like a very easy example to

And so like a very easy example to demonstrate this in terms of

demonstrate this in terms of communication is that if I say I didn't

communication is that if I say I didn't say he hit his wife. I didn't say he hit

say he hit his wife. I didn't say he hit his wife. I didn't say he hit his wife.

his wife. I didn't say he hit his wife. I didn't say hit his wife. Those all

I didn't say hit his wife. Those all mean very different things. But

mean very different things. But fundamentally it's just cuz I change

fundamentally it's just cuz I change where I pause. Right. Mhm.

where I pause. Right. Mhm. >> What word? So, I'm emphasizing a

>> What word? So, I'm emphasizing a different word. And so, I used to talk

different word. And so, I used to talk about emphasis a lot, but I've I've

about emphasis a lot, but I've I've trained more and more and more and more

trained more and more and more and more sales people over time. I just say, when

sales people over time. I just say, when do you shut up and when do you raise

do you shut up and when do you raise your voice? That's it. The rest of this

your voice? That's it. The rest of this we we speak in the exact same tone. And

we we speak in the exact same tone. And the reason that I feel very confident

the reason that I feel very confident about this is that AI is doing

about this is that AI is doing increasingly good job at ads. If I don't

increasingly good job at ads. If I don't know if you you've noticed this, but

know if you you've noticed this, but like a lot of ads are just being voiced

like a lot of ads are just being voiced over AI and they convert higher because

over AI and they convert higher because people can understand them.

people can understand them. >> I think a huge part of it is just they

>> I think a huge part of it is just they can comprehend it. they can actually

can comprehend it. they can actually hear all the words and it's set in a

hear all the words and it's set in a tone that's loud enough and there's

tone that's loud enough and there's annunciation and they actually get it

annunciation and they actually get it cuz most like it's like one of the

cuz most like it's like one of the easiest ways you can improve copy on a

easiest ways you can improve copy on a website is just get it below third grade

website is just get it below third grade reading level like 50% of people can't

reading level like 50% of people can't read above sixth grade

read above sixth grade >> in the US

>> in the US >> it's crazy

>> it's crazy >> so you're you're alienating 50% of the

>> so you're you're alienating 50% of the market now you might think oh well those

market now you might think oh well those are the idiots no I know plenty of

are the idiots no I know plenty of people I mean like I've got two friends

people I mean like I've got two friends who dropped out of high school and are

who dropped out of high school and are super super successful entrepreneurs

super super successful entrepreneurs barely can write their names and they

barely can write their names and they like they make fun of it, but like

like they make fun of it, but like they're smart. They just didn't weren't

they're smart. They just didn't weren't educated. Those are different things,

educated. Those are different things, right? And so I say this to say like if

right? And so I say this to say like if if you're if you're in these selling

if you're if you're in these selling situations and you're like because what

situations and you're like because what happens is you get nervous, right? You

happens is you get nervous, right? You get this fight, flight, freak out, the

get this fight, flight, freak out, the ones that Daniel was saying earlier. And

ones that Daniel was saying earlier. And so your adrenaline kicks up and so you

so your adrenaline kicks up and so you want to talk faster, you want to talk

want to talk faster, you want to talk louder, uh you interrupt the other

louder, uh you interrupt the other person. And all those things are

person. And all those things are antithetical to closing. And so just

antithetical to closing. And so just teaching someone to be okay with pauses

teaching someone to be okay with pauses can increase the likelihood that people

can increase the likelihood that people pay attention to the words that they

pay attention to the words that they say. Because all we do is we draw

say. Because all we do is we draw attention when we pause. You have short

attention when we pause. You have short pauses that draw attention. And then you

pauses that draw attention. And then you have long pauses that solicit response.

have long pauses that solicit response. If I pause long enough, what do people

If I pause long enough, what do people do? They talk.

do? They talk. >> And I just think of someone as being

>> And I just think of someone as being higher value if they if they're taking

higher value if they if they're taking pauses. Mhm.

pauses. Mhm. >> Um, one of my one of my great mentors

>> Um, one of my one of my great mentors early in my career, he

early in my career, he there's something about the way that he

there's something about the way that he spoke, he was incredibly slow with the

spoke, he was incredibly slow with the way he sp he was like that. And the

way he sp he was like that. And the minute he started speaking when when my

minute he started speaking when when my company were over there and having these

company were over there and having these men mentorship sessions with him,

men mentorship sessions with him, everybody would stop and just like was

everybody would stop and just like was fixated on him. And then I remember this

fixated on him. And then I remember this girl who worked in my New York office,

girl who worked in my New York office, he was

he was >> opposite.

>> opposite. >> And it's just it's just the use of your

>> And it's just it's just the use of your this instrument. Yeah.

this instrument. Yeah. >> Um, do you think much about that? Do you

>> Um, do you think much about that? Do you think much about how you present

think much about how you present yourself? Do you think much about your

yourself? Do you think much about your body language?

body language? >> I think it it's natural. I think more

>> I think it it's natural. I think more important is the distinction between are

important is the distinction between are you coming across as a newbie? Are you

you coming across as a newbie? Are you coming across as a standard worker be or

coming across as a standard worker be or are you coming across as high status,

are you coming across as high status, key person of influence level? And each

key person of influence level? And each one of those has body language

one of those has body language associated. It has different ways of

associated. It has different ways of presenting yourself. But it's a

presenting yourself. But it's a self-identity thing. And if you can

self-identity thing. And if you can shift that selfidentity, you can

shift that selfidentity, you can naturally become more of a key person of

naturally become more of a key person of influence. When we meet someone, we

influence. When we meet someone, we within a few seconds, we evaluate their

within a few seconds, we evaluate their status level relative to us. And you

status level relative to us. And you can't switch it off. And there's plenty

can't switch it off. And there's plenty of evidence to say that like

of evidence to say that like unfortunately, you just do it

unfortunately, you just do it automatically. I've seen people

automatically. I've seen people completely change their life by just

completely change their life by just simply changing the way that they pitch

simply changing the way that they pitch from a a newbie worker B to a key person

from a a newbie worker B to a key person of influence. I can think of an example.

of influence. I can think of an example. There's this woman who I asked her,

There's this woman who I asked her, "What do you do?" And she said, "I'm a

"What do you do?" And she said, "I'm a financial planner. I can help anyone

financial planner. I can help anyone with their financial planning. If anyone

with their financial planning. If anyone wants to talk about their wills or any

wants to talk about their wills or any of those sorts of things, then that's

of those sorts of things, then that's what I can help people with, right? And

what I can help people with, right? And it sounds workery. And her her body

it sounds workery. And her her body language was kind of like this.

language was kind of like this. >> Uh I asked her a question. I said, "When

>> Uh I asked her a question. I said, "When did you do something special that was

did you do something special that was really transformational, something

really transformational, something something important?" She said, "Last

something important?" She said, "Last month, I went out to the countryside. I

month, I went out to the countryside. I worked on a farm and I worked with the

worked on a farm and I worked with the owner of the farm and their kids and

owner of the farm and their kids and their grandkids to get alignment between

their grandkids to get alignment between the three generations. the farm was

the three generations. the farm was going to be sold off to private equity

going to be sold off to private equity and instead I helped them to get

and instead I helped them to get alignment as to how they're going to

alignment as to how they're going to keep the family farm. And I said, "How

keep the family farm. And I said, "How did you do that?" And she said, "Well, I

did you do that?" And she said, "Well, I used to be a city girl and then I

used to be a city girl and then I married a country boy and I I learned

married a country boy and I I learned how to do it." I got her to change her

how to do it." I got her to change her pitch and I said, "Pitch yourself as a

pitch and I said, "Pitch yourself as a key person of influence at that." So she

key person of influence at that." So she stood up in front of the group and she

stood up in front of the group and she said, "For the last 20 years, I've been

said, "For the last 20 years, I've been working with rural families who own

working with rural families who own farms and I help them with their

farms and I help them with their financial planning and I secure their

financial planning and I secure their family farm for the next two

family farm for the next two generations."

generations." >> And her body language just went like

>> And her body language just went like like key person of influence and

like key person of influence and everyone just responded differently. And

everyone just responded differently. And when I asked the audience, in the first

when I asked the audience, in the first instance, what do you think her day rate

instance, what do you think her day rate was? Everyone said $500. I said, in the

was? Everyone said $500. I said, in the second instance, what do you think she

second instance, what do you think she charges per day? 10 grand. And it was

charges per day? 10 grand. And it was just the ability to pitch yourself as

just the ability to pitch yourself as that key person of influence in the

that key person of influence in the room.

room. >> You know what's fascinating is there are

>> You know what's fascinating is there are actual studies now that show for women

actual studies now that show for women in particular that you make more money

in particular that you make more money if you do one thing which is you wear

if you do one thing which is you wear makeup which is wild. So they did

makeup which is wild. So they did there's three studies that have been

there's three studies that have been done totally different groups one by

done totally different groups one by Harvard one by Stanford and I can't

Harvard one by Stanford and I can't remember it was either Oxford or

remember it was either Oxford or Cambridge and the studies showed that

Cambridge and the studies showed that women who there was no attractiveness

women who there was no attractiveness differential between them but one wore

differential between them but one wore makeup consistently uh at work and one

makeup consistently uh at work and one didn't. They made anywhere from 20 to

didn't. They made anywhere from 20 to 40% more money inside of this study.

40% more money inside of this study. What I thought was really interesting

What I thought was really interesting about that, because I'm not really

about that, because I'm not really historically a makeup girl, although

historically a makeup girl, although being fully face painted for this, is

being fully face painted for this, is that that actually makes sense in a lot

that that actually makes sense in a lot of ways because we do have this initial

of ways because we do have this initial reaction that we always have uh with

reaction that we always have uh with people. You know, we judge somebody like

people. You know, we judge somebody like you talked about almost immediately. And

you talked about almost immediately. And so when I saw that study, I thought,

so when I saw that study, I thought, well, first of all, that's interesting.

well, first of all, that's interesting. You don't have to be smarter, better

You don't have to be smarter, better looking uh or anything else, and you can

looking uh or anything else, and you can make more money just by the way you

make more money just by the way you present yourself. And so I thought

present yourself. And so I thought thought, well, what about the way that

thought, well, what about the way that you dress? Is is that also the same? And

you dress? Is is that also the same? And there are studies that back this as well

there are studies that back this as well that in fact you can make more money as

that in fact you can make more money as a man for dressing one way and as a

a man for dressing one way and as a woman and women are interesting because

woman and women are interesting because you are not the norm.

you are not the norm. >> What am I missing?

>> What am I missing? >> You got the lumberjack.

>> You got the lumberjack. >> I've got 20% sitting on the table right

>> I've got 20% sitting on the table right now.

now. >> But what's fascinating is, you know, I

>> But what's fascinating is, you know, I like things where you don't have to you

like things where you don't have to you don't have to be better than anybody

don't have to be better than anybody else. You can just use human psychology

else. You can just use human psychology to make more money. And so if I'm a

to make more money. And so if I'm a woman, I know that the way that I dress,

woman, I know that the way that I dress, so when I pay attention to my dress and

so when I pay attention to my dress and dress professionally, whatever that

dress professionally, whatever that means in this instance, in the study

means in this instance, in the study that I saw, it was like, you know, what

that I saw, it was like, you know, what what I would have on a blouse, a suit,

what I would have on a blouse, a suit, something like that, women make two

something like that, women make two times more than men when they dress when

times more than men when they dress when they dress better. Men, it actually is

they dress better. Men, it actually is less important. Still more important

less important. Still more important though, if you dress professionally in a

though, if you dress professionally in a suit and you don't have all the other

suit and you don't have all the other proof and things you have, you have this

proof and things you have, you have this sort of interesting thing that's like a

sort of interesting thing that's like a you have sort of um diametric

you have sort of um diametric opposition. I make a lot of money and

opposition. I make a lot of money and yet I care so little about money that I

yet I care so little about money that I dress in a wife theater. Yeah. Exactly.

dress in a wife theater. Yeah. Exactly. And so and so men make somewhere between

And so and so men make somewhere between 15 and 18% more when they dress in

15 and 18% more when they dress in suits. So I think there's a a real um

suits. So I think there's a a real um argument to be made for if you're going

argument to be made for if you're going to pay attention to the way your voice

to pay attention to the way your voice sounds. That takes some training.

sounds. That takes some training. Doesn't take much training to change the

Doesn't take much training to change the way that you look professionally and and

way that you look professionally and and how you dress. And the only other thing

how you dress. And the only other thing that I would talk about on sales and

that I would talk about on sales and pitching is we tell all of our company

pitching is we tell all of our company people. Um the line is show don't tell.

people. Um the line is show don't tell. We increasingly do not believe the

We increasingly do not believe the things that were heard. So like think

things that were heard. So like think about a sales pitch that goes like this.

about a sales pitch that goes like this. Um you know uh we for instance have a

Um you know uh we for instance have a lot of home service companies. So these

lot of home service companies. So these home service companies are selling a

home service companies are selling a homeowner on let's say landscaping. And

homeowner on let's say landscaping. And so I'm going to come and we're going to

so I'm going to come and we're going to clean up your lawn and here's what we're

clean up your lawn and here's what we're going to do and this is how much it's

going to do and this is how much it's going to charge. I'm going to charge and

going to charge. I'm going to charge and this is how long it's going to take. And

this is how long it's going to take. And you can tell the client that we're an

you can tell the client that we're an expert at this. I've been in business

expert at this. I've been in business for 42 years. We have, you know, 1,000

for 42 years. We have, you know, 1,000 reviews on Trustpilot, etc. Or you could

reviews on Trustpilot, etc. Or you could do something that'll double your

do something that'll double your conversion, which is simply bring a

conversion, which is simply bring a phone or an iPad with you and say, "Can

phone or an iPad with you and say, "Can I show you what we did for your

I show you what we did for your neighbors down the street?" And just

neighbors down the street?" And just show them the image of it. Just go, "We

show them the image of it. Just go, "We do have a thousand Trust Pilot views. I

do have a thousand Trust Pilot views. I don't right here. We could see what the

don't right here. We could see what the last one said. Click on it. Show them

last one said. Click on it. Show them the Trust Pilot review." You don't have

the Trust Pilot review." You don't have to train that. And I really like my

to train that. And I really like my salespeople to not have to become

salespeople to not have to become experts but to be enabled by what's

experts but to be enabled by what's called sales enablement or technology

called sales enablement or technology just to show because we are a visual

just to show because we are a visual species. And so wherever possible if you

species. And so wherever possible if you want to increase your conversions I tell

want to increase your conversions I tell my team you are not allowed to close a

my team you are not allowed to close a sale without showing something.

sale without showing something. >> Some visuals

>> Some visuals >> you have to have a visual because it's

>> you have to have a visual because it's just a trust transfer and a higher

just a trust transfer and a higher signal. What's wild now is that in that

signal. What's wild now is that in that same business, you could take a photo

same business, you could take a photo >> just right there in chat GBT say do the

>> just right there in chat GBT say do the landscape gardening and then show them

landscape gardening and then show them this is your house. Exactly.

this is your house. Exactly. >> Fully landscaped. People are vis 70% of

>> Fully landscaped. People are vis 70% of the brain is visual processing.

the brain is visual processing. >> Exactly. And then you believe it and

>> Exactly. And then you believe it and then you've already seen it happen.

then you've already seen it happen. >> I work with a lot of entrepreneurs and I

>> I work with a lot of entrepreneurs and I get them to create a brochure

get them to create a brochure >> like a physical brochure for their

>> like a physical brochure for their business and people are like what on

business and people are like what on earth am I creating a brochure for in

earth am I creating a brochure for in 2025? I because the the act of creating

2025? I because the the act of creating a brochure gets what's in your head, out

a brochure gets what's in your head, out of your head, and into a document we can

of your head, and into a document we can all explore. And I I still think a

all explore. And I I still think a brochure is actually one of the coolest

brochure is actually one of the coolest things that an entrepreneur can do as an

things that an entrepreneur can do as an activity to really just solidify what

activity to really just solidify what they do.

they do. >> I saw you scribbling again, Daniel.

>> I saw you scribbling again, Daniel. >> Oh, I have lots of things, but yeah. No,

>> Oh, I have lots of things, but yeah. No, I was thinking about like uh makeup

I was thinking about like uh makeup versus suits and whatnot. And so, you

versus suits and whatnot. And so, you know, one it's like if you have if you

know, one it's like if you have if you have zero status, you have no credit,

have zero status, you have no credit, like SPCL like we went through, then

like SPCL like we went through, then it's like, well, then what are the

it's like, well, then what are the smallest versions of that that you can

smallest versions of that that you can demonstrate? And so, I would also bet

demonstrate? And so, I would also bet that if the girls did makeup like hooker

that if the girls did makeup like hooker makeup and then you also do like

makeup and then you also do like professional makeup, I'll bet you

professional makeup, I'll bet you there's a very different outcome that

there's a very different outcome that happens because if you have like

happens because if you have like understated business makeup, then that

understated business makeup, then that probably signals a certain level of

probably signals a certain level of status and they will treat you like

status and they will treat you like other people that they have treated in

other people that they have treated in the past because that associates with

the past because that associates with the status people had. Same thing with a

the status people had. Same thing with a man in a suit. Like literally fancy

man in a suit. Like literally fancy pants, right? Um, it's like this guy's

pants, right? Um, it's like this guy's got fancy pants, therefore he is must be

got fancy pants, therefore he is must be 15 18% better on average. Now, to to to

15 18% better on average. Now, to to to comment on on on Cody's point earlier,

comment on on on Cody's point earlier, it's like I have other statusinducing

it's like I have other statusinducing points that are superior to a suit and

points that are superior to a suit and so I don't need one,

so I don't need one, >> right? So, like how how do I get away

>> right? So, like how how do I get away with that? It's like, yeah, like having

with that? It's like, yeah, like having a suit only means that you have $500,

a suit only means that you have $500, right?

right? >> But billionaires don't wear Louis

>> But billionaires don't wear Louis Vuitton because in the status game

Vuitton because in the status game they're playing that would be an inverse

they're playing that would be an inverse signal of wealth.

signal of wealth. >> Exactly. Yeah. Who you're trying to And

>> Exactly. Yeah. Who you're trying to And then um to Cody's point about proof,

then um to Cody's point about proof, like proof is always number one, right?

like proof is always number one, right? And so like

And so like trust pilot reviews is a kind of proof.

trust pilot reviews is a kind of proof. Somebody down the street is a closer

Somebody down the street is a closer approximation which is a higher form of

approximation which is a higher form of proof. And so proof is always going to

proof. And so proof is always going to be number one what you can lead with.

be number one what you can lead with. You can almost immediately in any sales

You can almost immediately in any sales process if they don't have one of these

process if they don't have one of these just implement a video sales letter and

just implement a video sales letter and increase sales by 20 to 40% with like

increase sales by 20 to 40% with like really doing nothing else. Um sometimes

really doing nothing else. Um sometimes more. And so that typically is like,

more. And so that typically is like, okay, what's the what's the promise that

okay, what's the what's the promise that we're gonna, you know, what do we do?

we're gonna, you know, what do we do? What's the pain that we're solving? What

What's the pain that we're solving? What is the uh plan or sorry, what is the

is the uh plan or sorry, what is the proof that we have that we can solve it?

proof that we have that we can solve it? And then what is the plan for the rest

And then what is the plan for the rest of this video? And then typically after

of this video? And then typically after you have you've demonstrated each of

you have you've demonstrated each of those P's, you then say great picture

those P's, you then say great picture number five. Uh which then gives you

number five. Uh which then gives you kind of the visual road map. And then

kind of the visual road map. And then after that, I typically like to have

after that, I typically like to have people just respond to the all of the

people just respond to the all of the biggest objections that people have

biggest objections that people have around whatever the specific service is

around whatever the specific service is um as the main points of the video. And

um as the main points of the video. And then after that, you just make your call

then after that, you just make your call to action or you just reinforce the

to action or you just reinforce the appointment. Say, "Hey, like if you like

appointment. Say, "Hey, like if you like this video, text me this keyword. That

this video, text me this keyword. That way, I know you watched it and we'll

way, I know you watched it and we'll give you an extra 5% on whatever." And

give you an extra 5% on whatever." And that way the salesperson knows the

that way the salesperson knows the person watched it. Um and it gives them

person watched it. Um and it gives them incentive to do so. So it's like, "Hey,

incentive to do so. So it's like, "Hey, if you watch the video, you get 5%."

if you watch the video, you get 5%." It's like, "Oh [ __ ] that's amazing." Um

It's like, "Oh [ __ ] that's amazing." Um but then that way they know that they

but then that way they know that they actually watched it. The one other thing

actually watched it. The one other thing that I've found that is the most

that I've found that is the most powerful sales closer

powerful sales closer >> is to pitch the assessment. And to pitch

>> is to pitch the assessment. And to pitch the assessment is, I don't know if I can

the assessment is, I don't know if I can help you, but if we answer these 40

help you, but if we answer these 40 questions and we go through this

questions and we go through this assessment, then we'll figure out

assessment, then we'll figure out whether we can help you or not. So, it's

whether we can help you or not. So, it's kind of like if you went to the doctor

kind of like if you went to the doctor and said, I don't know whether you need

and said, I don't know whether you need anything, but we'll put you through a

anything, but we'll put you through a blood test and and an X-ray and then

blood test and and an X-ray and then we'll see. So one of the biggest way I

we'll see. So one of the biggest way I I've scaled multiple companies where you

I've scaled multiple companies where you pitch the assessment. You just you don't

pitch the assessment. You just you don't tell people whether you can can or can't

tell people whether you can can or can't help them. You just simply say the next

help them. You just simply say the next step is to take an assessment and when

step is to take an assessment and when we do the assessment it will tell us

we do the assessment it will tell us whether I can help you or not. And it's

whether I can help you or not. And it's one of the best sales closing

one of the best sales closing techniques.

techniques. >> There's a lot of psychology around that.

>> There's a lot of psychology around that. They did that the study where they had

They did that the study where they had the boring focus group and they had one

the boring focus group and they had one group of people who were allowed

group of people who were allowed straight into the boring f community

straight into the boring f community group and then they had the other group

group and then they had the other group of people who had to take a survey to

of people who had to take a survey to get in and the group of people that took

get in and the group of people that took the survey to get into the boring

the survey to get into the boring community group all said that it was

community group all said that it was great in there.

great in there. >> So much better.

>> So much better. >> And there's something about how friction

>> And there's something about how friction upon entry makes you value the thing

upon entry makes you value the thing more

more >> bazillion%. Like I can't I cannot I c I

>> bazillion%. Like I can't I cannot I c I can't emphasize this more. Like in every

can't emphasize this more. Like in every single CRO split test that we increase

single CRO split test that we increase friction or increase the quality of

friction or increase the quality of leads, we make more money.

leads, we make more money. >> CRO split test.

>> CRO split test. >> So conversion optimization test that

>> So conversion optimization test that you'd run across a a landing page or

you'd run across a a landing page or funnel or sales sales motion. Um like

funnel or sales sales motion. Um like when you add more friction and it's good

when you add more friction and it's good friction ideally, meaning you're not

friction ideally, meaning you're not getting out bad people, you're getting

getting out bad people, you're getting sorry, getting out good people, which is

sorry, getting out good people, which is bad friction. You want good friction

bad friction. You want good friction which gets out bad people.

which gets out bad people. >> Yeah. um you will typically always

>> Yeah. um you will typically always increase the cost per action. So your

increase the cost per action. So your lead cost will go up, your cost per call

lead cost will go up, your cost per call will go up, but your show rates will go

will go up, but your show rates will go up and your close rates will go up and

up and your close rates will go up and your cash collected will go up.

your cash collected will go up. >> And it seems counterintuitive to apply

>> And it seems counterintuitive to apply friction to a process, but

friction to a process, but >> and I can almost promise that like it I

>> and I can almost promise that like it I I have so few examples where it didn't

I have so few examples where it didn't work that I almost believe that it's law

work that I almost believe that it's law at this point. And I think it's law

at this point. And I think it's law because it's so counterintuitive because

because it's so counterintuitive because it's scary to add friction because you

it's scary to add friction because you know that you're actively decreasing

know that you're actively decreasing your lead flow and increasing your cost

your lead flow and increasing your cost per lead. You're decreasing your calls,

per lead. You're decreasing your calls, you're increasing your cost per call.

you're increasing your cost per call. Like that is frightening for just about

Like that is frightening for just about every business, which is usually why it

every business, which is usually why it works.

works. >> At the Louis Vuitton store, they put a

>> At the Louis Vuitton store, they put a security guard to keep you out and then

security guard to keep you out and then it pushes the prices up.

it pushes the prices up. >> Yeah. Like they they after co none of

>> Yeah. Like they they after co none of them stopped doing because they're like,

them stopped doing because they're like, "Oh, wow. We made more sales during CO

"Oh, wow. We made more sales during CO because we had people wait in line and

because we had people wait in line and showed scarcity."

showed scarcity." >> It's like, isn't it? You don't even get

>> It's like, isn't it? You don't even get to pick the bag you get and you have to

to pick the bag you get and you have to join a waiting list. Then they interview

join a waiting list. Then they interview you to buy the bag

you to buy the bag >> and then they decide whether they should

>> and then they decide whether they should let you have

let you have >> what do you bring to the table.

>> what do you bring to the table. >> That's how Ferrari works. You're not

>> That's how Ferrari works. You're not allowed to buy Ferraris unless you go

allowed to buy Ferraris unless you go through this list. And if you're ever so

through this list. And if you're ever so shown to to flip them or sell them,

shown to to flip them or sell them, you'll never buy another Ferrari again.

you'll never buy another Ferrari again. So

So >> I've got three boxes here and these

>> I've got three boxes here and these three suitcases contain different

three suitcases contain different amounts of money. One of them contains

amounts of money. One of them contains $1,000. one of them contains $10,000 and

$1,000. one of them contains $10,000 and one of them contains $100,000. You're

one of them contains $100,000. You're going to pick a suitcase and you're

going to pick a suitcase and you're going to tell me what you would do with

going to tell me what you would do with that amount of money if you were

that amount of money if you were starting with that amount of money today

starting with that amount of money today to build a scalable business.

to build a scalable business. >> So,

>> So, >> do we keep the money?

>> do we keep the money? >> He wants to buy a watch.

>> He wants to buy a watch. >> I'm like, I'm feeling 100,000.

>> I'm like, I'm feeling 100,000. >> All right. What do we got?

>> All right. What do we got? >> Oh, I have $1,000.

>> Oh, I have $1,000. >> So, do I get to keep the money? Is that

>> So, do I get to keep the money? Is that how this works?

how this works? >> Yeah, you can keep it. It smells smells

>> Yeah, you can keep it. It smells smells like money. Okay, so I have $1,000. So I

like money. Okay, so I have $1,000. So I would um take the $1,000, put it in my

would um take the $1,000, put it in my pocket, do nothing with it, and I would

pocket, do nothing with it, and I would watch YouTube videos on AI integration

watch YouTube videos on AI integration into small businesses. And then I would

into small businesses. And then I would go to small businesses, and once I had a

go to small businesses, and once I had a specific integration that I would do,

specific integration that I would do, which I would probably bet would be

which I would probably bet would be around likely email list activation

around likely email list activation because that's typically like fastest,

because that's typically like fastest, easiest money that most business owners

easiest money that most business owners have, is their contact list. They've

have, is their contact list. They've got, you know, they've been in business

got, you know, they've been in business 10 years. They've got, you know, 8,000

10 years. They've got, you know, 8,000 customers they've sold over that whole

customers they've sold over that whole time period and maybe a list of, you

time period and maybe a list of, you know, call it 20,000 leads that they've

know, call it 20,000 leads that they've had. They never email them ever. If they

had. They never email them ever. If they do, it's just like, here's our random

do, it's just like, here's our random discount that we send once a quarter for

discount that we send once a quarter for Christmas or whatever. And I would say,

Christmas or whatever. And I would say, hey, um, I will email those people and I

hey, um, I will email those people and I will uh get everything approved by you

will uh get everything approved by you and don't pay me anything. Just pay me a

and don't pay me anything. Just pay me a percentage of the sales that we generate

percentage of the sales that we generate afterwards. How's that sound? And that

afterwards. How's that sound? And that offer tends to do well. And I know that

offer tends to do well. And I know that because I've done it. So, that's what I

because I've done it. So, that's what I would do. in the thousand dollars, I

would do. in the thousand dollars, I would, you know, go buy Leila something

would, you know, go buy Leila something for a little bit of time so that she can

for a little bit of time so that she can stay with me until uh I make the money

stay with me until uh I make the money for my my email reactivation campaign.

for my my email reactivation campaign. >> See what I get?

I got the 10K. >> Ah,

>> Ah, >> all right. We're going around the circle

>> all right. We're going around the circle here. Um, I like it.

here. Um, I like it. I would find the person who would buy

I would find the person who would buy what I was selling for the highest

what I was selling for the highest dollar amount humanly possible, which

dollar amount humanly possible, which means I would probably go to private

means I would probably go to private equity companies. So, Alex gave me the

equity companies. So, Alex gave me the idea for Main Street. I I know that Main

idea for Main Street. I I know that Main Street businesses are like often cash

Street businesses are like often cash crunched, right? They don't have a lot

crunched, right? They don't have a lot of money and they often cannot extract

of money and they often cannot extract enough value from a lead that I need

enough value from a lead that I need them to. So, Alex would need to find the

them to. So, Alex would need to find the perfect company to do that and there's

perfect company to do that and there's lots of them or he would build his own

lots of them or he would build his own which would be great. I think in my

which would be great. I think in my specific instance, I want to go to the

specific instance, I want to go to the people who are already good at

people who are already good at extracting the most value humanly

extracting the most value humanly possible. So, I'd probably try to go to

possible. So, I'd probably try to go to a private equity firm. And I would

a private equity firm. And I would >> What's a private equity firm?

>> What's a private equity firm? >> It's basically a fancy way for saying

>> It's basically a fancy way for saying that people use their own money to buy

that people use their own money to buy businesses as opposed to public equity

businesses as opposed to public equity where people use the stock markets

where people use the stock markets dollars to buy businesses. And so,

dollars to buy businesses. And so, examples would be like u you know KKR,

examples would be like u you know KKR, Carile, uh Cberus are some of the

Carile, uh Cberus are some of the biggest in the world.

biggest in the world. >> So, they go around buying people's

>> So, they go around buying people's businesses with their own money.

businesses with their own money. >> That's right. Yeah. Yeah. they find

>> That's right. Yeah. Yeah. they find entrepreneurs right about the point

entrepreneurs right about the point where they cannot take it anymore and

where they cannot take it anymore and they buy those businesses and then they

they buy those businesses and then they they grow them hugely and and and again

they grow them hugely and and and again because I'm better at partnerships I

because I'm better at partnerships I would want to go to them and I would

would want to go to them and I would want to say and it really what's

want to say and it really what's interesting is I bet all of us are going

interesting is I bet all of us are going to be really similar the money actually

to be really similar the money actually doesn't matter and so even though I have

doesn't matter and so even though I have $10,000 10x what Alex has it doesn't

$10,000 10x what Alex has it doesn't actually matter because what I would do

actually matter because what I would do still $10,000 is not enough for me to

still $10,000 is not enough for me to make a couple million which is what I

make a couple million which is what I would want to do with this so what

would want to do with this so what actually is the differentiator what is

actually is the differentiator what is the business model I choose? Who do I go

the business model I choose? Who do I go to sell it to so that I can get the most

to sell it to so that I can get the most value out of it? And with these PE

value out of it? And with these PE companies, what I would do is I would go

companies, what I would do is I would go to them and they're buying companies all

to them and they're buying companies all the time. And so there's two ways to

the time. And so there's two ways to sell to a PE company and I'd see which

sell to a PE company and I'd see which ones I could get them to sign up for. On

ones I could get them to sign up for. On one hand, there's something called a

one hand, there's something called a deal sourcing fee, which is if you can

deal sourcing fee, which is if you can find companies that are in the niche

find companies that are in the niche that PE companies want to buy, they will

that PE companies want to buy, they will pay you for sourcing the company. Um,

pay you for sourcing the company. Um, and I know this because I pay deals

and I know this because I pay deals fees. And so I would go to private local

fees. And so I would go to private local private equity companies. You're not

private equity companies. You're not going to be able to get to Cberus or the

going to be able to get to Cberus or the big guys. So I would go to the ones in

big guys. So I would go to the ones in my local neighborhood that you could

my local neighborhood that you could find by searching on AI to say local

find by searching on AI to say local private equity companies buying these

private equity companies buying these types of companies. I would reach out to

types of companies. I would reach out to the GPS. Those are the general partners

the GPS. Those are the general partners of the company, the guys who run it. And

of the company, the guys who run it. And I would say what type of companies are

I would say what type of companies are you actively purchasing right now?

you actively purchasing right now? What's your investment thesis and

What's your investment thesis and dealbox? And if I could get them to

dealbox? And if I could get them to respond to me, great. If not, I'd

respond to me, great. If not, I'd search, what do private equity companies

search, what do private equity companies typically want to buy? what what is the

typically want to buy? what what is the deal box or investment thesis of a

deal box or investment thesis of a private equity company? I would find

private equity company? I would find that dealbox and then I'd play the game

that dealbox and then I'd play the game of doornocking. I'd go to a bunch of

of doornocking. I'd go to a bunch of these businesses and try to find

these businesses and try to find companies that wanted to sell and then

companies that wanted to sell and then when they tell me they want to sell and

when they tell me they want to sell and I have a buyer, which is the private

I have a buyer, which is the private equity uh company, the private equity

equity uh company, the private equity company will pay me either a percentage

company will pay me either a percentage of the sale or a flat fee for sourcing

of the sale or a flat fee for sourcing it.

it. >> What might that look like in terms of a

>> What might that look like in terms of a percentage and dollar number? Yeah, I

percentage and dollar number? Yeah, I mean, if you're like a a

mean, if you're like a a non-institutional player doing this, I

non-institutional player doing this, I think you would go to them and say, "Can

think you would go to them and say, "Can I get like 10k for every company that I

I get like 10k for every company that I source you that's over a million dollars

source you that's over a million dollars in revenue that's profitable and within

in revenue that's profitable and within your dealbox?" They'd probably say yes.

your dealbox?" They'd probably say yes. The normal sourcing fee is somewhere

The normal sourcing fee is somewhere between 3 and 5%. But you're not going

between 3 and 5%. But you're not going to get that when you're brand new. So,

to get that when you're brand new. So, but I like the idea of making 10K on one

but I like the idea of making 10K on one deal to start. Then, what else am I

deal to start. Then, what else am I learning while I'm doing this? I'm also

learning while I'm doing this? I'm also learning simultaneously how do you buy

learning simultaneously how do you buy businesses? What type of businesses? How

businesses? What type of businesses? How do you find businesses for sale? I think

do you find businesses for sale? I think this is the highest leverage activity I

this is the highest leverage activity I know how to do. Like I just I know more

know how to do. Like I just I know more how to buy a business that's already

how to buy a business that's already making money and make it make more money

making money and make it make more money with a higher degree of certainty

with a higher degree of certainty because if it's already profitable, it

because if it's already profitable, it gets out of the valley of death, which

gets out of the valley of death, which is where a company starts and never

is where a company starts and never actually makes any profit. And so I

actually makes any profit. And so I would start there and then what would I

would start there and then what would I do for that? Well, the second that they

do for that? Well, the second that they see that I'm good at sourcing deals,

see that I'm good at sourcing deals, there's going to be they're going to be

there's going to be they're going to be throwing offers at me. But what I might

throwing offers at me. But what I might do instead is go to those GPS and say,

do instead is go to those GPS and say, "Hey, I'm pretty good at doing the

"Hey, I'm pretty good at doing the hardest part of private equity, which is

hardest part of private equity, which is finding the deals. Why don't you guys

finding the deals. Why don't you guys back me for me to find the deals for

back me for me to find the deals for you?" Maybe they'll invest in my company

you?" Maybe they'll invest in my company for me to then run a private equity

for me to then run a private equity firm. Or maybe they'll say, "Come work

firm. Or maybe they'll say, "Come work for me, and then I can make a couple

for me, and then I can make a couple hundred,000. I can learn what I think is

hundred,000. I can learn what I think is the best uh skill out there to learn,

the best uh skill out there to learn, which is dealm. And I can use my

which is dealm. And I can use my leverage, which is knowing what a

leverage, which is knowing what a company's worth and how to buy it using

company's worth and how to buy it using other people's money in order to

other people's money in order to increase uh my earnings. And that's

increase uh my earnings. And that's >> interesting. You'd both use the money

>> interesting. You'd both use the money for personal things, probably just pay

for personal things, probably just pay your rent or take your

your rent or take your >> doesn't make a difference at that level.

>> doesn't make a difference at that level. And I mean,

And I mean, >> no,

>> no, >> even the hundred is close to I mean,

>> even the hundred is close to I mean, it's more than 10 in one, but

it's more than 10 in one, but >> yeah. And and this is just one idea. I

>> yeah. And and this is just one idea. I think there's so many things you could

think there's so many things you could do with one and

do with one and >> but they're all very similar in their

>> but they're all very similar in their fundamentals

fundamentals >> where you go to find some like the

>> where you go to find some like the leverage comes from going tapping into

leverage comes from going tapping into existing networks. You find an existing

existing networks. You find an existing business and either you're selling the

business and either you're selling the business as the product or you're

business as the product or you're selling the product of that business.

selling the product of that business. Right. Exactly. So you're selling either

Right. Exactly. So you're selling either way and all of it is promotion. You're

way and all of it is promotion. You're selling and you're trying to get a

selling and you're trying to get a percentage of upside. I'm getting a

percentage of upside. I'm getting a percentage of because like to Cody's

percentage of because like to Cody's point, a lot of mainstream businesses

point, a lot of mainstream businesses don't have money and you're like, "Cool,

don't have money and you're like, "Cool, pay me on money that I make you and

pay me on money that I make you and they're usually very very generous with

they're usually very very generous with money they don't have yet."

money they don't have yet." >> Um, same same for, you know, a deal that

>> Um, same same for, you know, a deal that we haven't made yet, I'll give you, you

we haven't made yet, I'll give you, you know, a fee for those things. Again, it

know, a fee for those things. Again, it depends on the timeline. If I have 30

depends on the timeline. If I have 30 days, then like

days, then like >> getting a deal done in 30 days will be

>> getting a deal done in 30 days will be tough.

tough. >> Um, but like getting a brick and mortar,

>> Um, but like getting a brick and mortar, it's like probably do that in 48 hours

it's like probably do that in 48 hours to get somebody to say yes to free money

to get somebody to say yes to free money for like no risk and I do all the work.

for like no risk and I do all the work. It's an easy offer. So again, I think it

It's an easy offer. So again, I think it dep that's where like the constraints of

dep that's where like the constraints of the initial prompt is like how much

the initial prompt is like how much money and how much time. If it's a year,

money and how much time. If it's a year, it's like all of this changes. If it's

it's like all of this changes. If it's 30 days and I have nothing, it's like

30 days and I have nothing, it's like well then we want to generate as much

well then we want to generate as much cash as we can in little time as

cash as we can in little time as possible with no risk.

possible with no risk. >> Yeah.

>> Yeah. >> Daniel's about to invest in the S&P 500.

>> Daniel's about to invest in the S&P 500. >> Right. Because

>> Right. Because >> he's like, I take your your $10,000 and

>> he's like, I take your your $10,000 and I raise you. Yeah.

I raise you. Yeah. >> So I have 100,000.

>> So I have 100,000. >> So

>> So >> he's leaving with it.

>> he's leaving with it. >> This this is a dangerous amount of

>> This this is a dangerous amount of money.

money. >> Yeah. This is the worst case scenario

>> Yeah. This is the worst case scenario for most people because if you have a

for most people because if you have a thousand, you know, you don't have

thousand, you know, you don't have money. If you have 10,000, okay, you

money. If you have 10,000, okay, you might get a cleaner, you might get an

might get a cleaner, you might get an assistant, you might do a few little

assistant, you might do a few little things with it. The danger of a h

things with it. The danger of a h 100,000 is you can kid yourself into

100,000 is you can kid yourself into thinking that you've got money. And it

thinking that you've got money. And it will make your head spin how fast you

will make your head spin how fast you can blow through $100,000 if if you

can blow through $100,000 if if you don't know what you're doing. If you

don't know what you're doing. If you give me a Formula One car and ask, "What

give me a Formula One car and ask, "What am I gonna do with it?" I'm gonna crash

am I gonna do with it?" I'm gonna crash it, right? if I can get it even started

it, right? if I can get it even started in the first place. So, I've got to come

in the first place. So, I've got to come up with something that the first problem

up with something that the first problem that I have is I don't have the

that I have is I don't have the knowledge. I don't have the network. I

knowledge. I don't have the network. I don't have the reputation. So, here's

don't have the reputation. So, here's what I'm going to do. I'm going to

what I'm going to do. I'm going to leverage Cody's. I'm going to go to Cody

leverage Cody's. I'm going to go to Cody and I'm going to say, "Cody, can I do a

and I'm going to say, "Cody, can I do a deal with you? I would like to start a

deal with you? I would like to start a business. I know you've got lots of

business. I know you've got lots of ideas that you just don't have time for.

ideas that you just don't have time for. I'm going to invest $100,000 as debt for

I'm going to invest $100,000 as debt for equity for 10%. So, I'm going to put 100

equity for 10%. So, I'm going to put 100 grand in and that'll come out of the

grand in and that'll come out of the business at some point, but debt for

business at some point, but debt for equity on 10%. and I'm going to do sweat

equity on 10%. and I'm going to do sweat equity for 10% and you keep 80%. And

equity for 10% and you keep 80%. And it's your idea and it's your network and

it's your idea and it's your network and it's your reputation, but I'll be the

it's your reputation, but I'll be the person who's heavily invested in this.

person who's heavily invested in this. And the only condition is that as the

And the only condition is that as the business becomes profitable, we can

business becomes profitable, we can repay the 100 grand. Um, and then once

repay the 100 grand. Um, and then once it's repaid the 100 grand, either you

it's repaid the 100 grand, either you buy it or we can sell the business.

buy it or we can sell the business. Now, what I'm doing there is I'm

Now, what I'm doing there is I'm basically acknowledging I don't know

basically acknowledging I don't know what I'm doing. I'm acknowledging I

what I'm doing. I'm acknowledging I don't have the reputation. I don't have

don't have the reputation. I don't have the knowledge. um all I have is this 100

the knowledge. um all I have is this 100 grand and I have a very strong desire or

grand and I have a very strong desire or will to be an entrepreneur. Now, what's

will to be an entrepreneur. Now, what's going to happen is that probably with an

going to happen is that probably with an hour of Cody's time per month, she's

hour of Cody's time per month, she's going to be able to say, "Here's the

going to be able to say, "Here's the idea. Here's here's my CFO. Talk to my

idea. Here's here's my CFO. Talk to my CFO. Here's my head of marketing. Talk

CFO. Here's my head of marketing. Talk to my head of marketing. Here's my

to my head of marketing. Here's my friend who's actually got even more

friend who's actually got even more money and wants to invest." And she's

money and wants to invest." And she's just going to like fire off a few emails

just going to like fire off a few emails and she's going to love the idea because

and she's going to love the idea because it's her idea. And I'm going to I'm

it's her idea. And I'm going to I'm going to work hard, right? And what's

going to work hard, right? And what's cool is that when the time comes that

cool is that when the time comes that that business becomes valuable, I've got

that business becomes valuable, I've got one buyer on the table. Cody's either

one buyer on the table. Cody's either going to say, "Hey, look, I'll buy you

going to say, "Hey, look, I'll buy you out because it's only 20% and now I own

out because it's only 20% and now I own the whole thing." Uh, or we go to market

the whole thing." Uh, or we go to market and Cody will know someone who can buy

and Cody will know someone who can buy the business and I get 20% of the exit.

the business and I get 20% of the exit. So, but the key here is that just that

So, but the key here is that just that acknowledgement that the it's really

acknowledgement that the it's really it's the knowledge, the network, and the

it's the knowledge, the network, and the reputation that is the valuable bit. And

reputation that is the valuable bit. And the money is a bit of a red herring.

the money is a bit of a red herring. >> And you're going to get Cody's skills

>> And you're going to get Cody's skills because you're going to be in her

because you're going to be in her proximity. you're going to get a little

proximity. you're going to get a little bit of her reputation

bit of her reputation >> at the end of that deal. I will then

>> at the end of that deal. I will then have knowledge. I'll then have

have knowledge. I'll then have reputation. I'll then have uh all of

reputation. I'll then have uh all of those things will have leveled up for

those things will have leveled up for me.

me. >> You know what else is interesting too?

>> You know what else is interesting too? It's really what you're proposing is is

It's really what you're proposing is is something that I used to not like and

something that I used to not like and since have think and since think that

since have think and since think that when you find the right ones, it's it's

when you find the right ones, it's it's really fascinating which it's a

really fascinating which it's a franchise model. You're essentially

franchise model. You're essentially saying which is what you do when you

saying which is what you do when you come to a franchise. If you come to

come to a franchise. If you come to Resibrands, you go, "Okay, I have

Resibrands, you go, "Okay, I have $75,000. I don't know anything about

$75,000. I don't know anything about window cleaning. I don't know anything

window cleaning. I don't know anything about running a business. But I do know

about running a business. But I do know that you know how to do it. And I know

that you know how to do it. And I know that you have all these case studies,

that you have all these case studies, aka proof of other people just like me

aka proof of other people just like me that have done it. So, I'm actually

that have done it. So, I'm actually going to pay you for this business for

going to pay you for this business for the right for you to take a percentage

the right for you to take a percentage of my ownership forever in perpetuity.

of my ownership forever in perpetuity. Um, but I will teach you how to or you

Um, but I will teach you how to or you will teach me how to run the business.

will teach me how to run the business. And so I think that's actually I I think

And so I think that's actually I I think I used to think that franchises weren't

I used to think that franchises weren't good for entrepreneurs because I am

good for entrepreneurs because I am relatively unemployable and I don't like

relatively unemployable and I don't like to be told what to do. But for people

to be told what to do. But for people that have never run a business before

that have never run a business before like what you're saying is like I'm

like what you're saying is like I'm paying you for the right to learn

paying you for the right to learn because you have a proven system that if

because you have a proven system that if I use it over time I have a lower

I use it over time I have a lower likelihood of failure because we know

likelihood of failure because we know the truth which is 90% of startups fail.

the truth which is 90% of startups fail. >> Most startups never make any money. you

>> Most startups never make any money. you pay for the right to maybe potentially

pay for the right to maybe potentially one day make money. And so I do think

one day make money. And so I do think stealing other people's homework is is

stealing other people's homework is is real and valuable. I

real and valuable. I >> I wanted to ask you all a question which

>> I wanted to ask you all a question which I have an answer to. So I assumed you

I have an answer to. So I assumed you would but maybe you don't, which is what

would but maybe you don't, which is what is the one thing about entrepreneurship,

is the one thing about entrepreneurship, wealth creation, finance that you think

wealth creation, finance that you think most people undervalue that you you put

most people undervalue that you you put a a disproportionate amount of weight

a a disproportionate amount of weight on. So like for me, I can think of a

on. So like for me, I can think of a game in business. I think of business as

game in business. I think of business as a set of games we're playing. I can

a set of games we're playing. I can think of a particular game in business

think of a particular game in business that I don't think other entrepreneurs

that I don't think other entrepreneurs understand the value of and I'm

understand the value of and I'm wondering if you all have an answer to

wondering if you all have an answer to that as well. Is there one game in this

that as well. Is there one game in this game of business, one fundamental game

game of business, one fundamental game that you think most entrepreneurs

that you think most entrepreneurs listening now don't appreciate and they

listening now don't appreciate and they should from the entrepreneurs you've

should from the entrepreneurs you've worked and invested in and being one

worked and invested in and being one yourself?

yourself? >> Well, I think I'll say one that everyone

>> Well, I think I'll say one that everyone here at the table will agree with. But I

here at the table will agree with. But I think that brand and distribution is

think that brand and distribution is still wildly undervalued. M

still wildly undervalued. M >> I mean I think that's the reason that

>> I mean I think that's the reason that all of us decided to get into it is

all of us decided to get into it is because you just I mean at least I saw

because you just I mean at least I saw just the wild discrepancy between cost

just the wild discrepancy between cost of of building brand and building

of of building brand and building distribution versus the value of that

distribution versus the value of that distribution and you know the the primes

distribution and you know the the primes the lunches the you know some of these

the lunches the you know some of these in insane zero to many billion dollar

in insane zero to many billion dollar case studies uh term huda beauty proper

case studies uh term huda beauty proper proper uh whatever it is for yeah like

proper uh whatever it is for yeah like there's there's so many examples at this

there's there's so many examples at this point that it's almost trite um I still

point that it's almost trite um I still think it's undervalued distribution,

think it's undervalued distribution, which is building an audience that you

which is building an audience that you own

own >> that has a high likelihood of of

>> that has a high likelihood of of complying with requests,

complying with requests, >> aka brand.

>> aka brand. >> Yeah. I mean, well, I think that's a

>> Yeah. I mean, well, I think that's a very good one. And and the reason that

very good one. And and the reason that we know that it's so undervalued is

we know that it's so undervalued is we're all offered things all the time

we're all offered things all the time that do not I mean, I remember talking

that do not I mean, I remember talking to my president of my company, and I was

to my president of my company, and I was the former president of Mr. Beast. It

the former president of Mr. Beast. It was interesting is he said like every

was interesting is he said like every deal we looked at,

deal we looked at, >> we almost regretted doing it. Like we

>> we almost regretted doing it. Like we couldn't I think you and I talked about

couldn't I think you and I talked about this. We we we couldn't do a deal that

this. We we we couldn't do a deal that the other party fully understood the

the other party fully understood the power of our distribution upfront. We

power of our distribution upfront. We almost had to like prove it, put in a

almost had to like prove it, put in a bunch of milestones on a later date

bunch of milestones on a later date because the deal is so good. And I found

because the deal is so good. And I found the same thing in the deals that I did.

the same thing in the deals that I did. Like we've talked about like I mean I

Like we've talked about like I mean I did a bunch of deals early on where I

did a bunch of deals early on where I bought businesses and they couldn't

bought businesses and they couldn't benefit from distribution. All my

benefit from distribution. All my laundromats, my car washes, like it

laundromats, my car washes, like it doesn't matter that I have a big

doesn't matter that I have a big audience online and so the leverage

audience online and so the leverage wasn't there for me. So I think um I

wasn't there for me. So I think um I think distribution and brand are huge.

think distribution and brand are huge. Uh the secondary thing that I do not

Uh the secondary thing that I do not think most entrepreneurs understand is

think most entrepreneurs understand is financial engineering. The richest

financial engineering. The richest people in the world are rich if if they

people in the world are rich if if they didn't get it from daddy and mommy and

didn't get it from daddy and mommy and they didn't get it from uh investing in

they didn't get it from uh investing in third party companies. They got it from

third party companies. They got it from um they got it from owning companies and

um they got it from owning companies and buying them over time. Like every

buying them over time. Like every billion there is not a billion dollar

billion there is not a billion dollar company that exists that hasn't bought

company that exists that hasn't bought other companies. It doesn't exist. When

other companies. It doesn't exist. When you say financial engineering, how do

you say financial engineering, how do you simplify that for someone that's 16

you simplify that for someone that's 16 years old?

years old? >> Man, understanding how to get other

>> Man, understanding how to get other people's money, to say it really simply,

people's money, to say it really simply, like how to get other people's money,

like how to get other people's money, which sounds a little scammy, except

which sounds a little scammy, except it's not. You know, most businesses are

it's not. You know, most businesses are bought with the SBA loans, loans from

bought with the SBA loans, loans from the government that allow you to buy a

the government that allow you to buy a business. Businesses need lines of

business. Businesses need lines of credit. That's just money from the bank

credit. That's just money from the bank for future state. So, like if you

for future state. So, like if you actually understood how money and

actually understood how money and finance works in your business, it's

finance works in your business, it's harder to die because cash flow is what

harder to die because cash flow is what keeps your company alive. And also, it's

keeps your company alive. And also, it's easier to buy your competitors because

easier to buy your competitors because whoever is most funded wins typically.

whoever is most funded wins typically. >> Um, and so I think

>> Um, and so I think >> I think more entrepreneurs need to

>> I think more entrepreneurs need to obsess on the thing that uh isn't the

obsess on the thing that uh isn't the magic. Like the magic is coming up with

magic. Like the magic is coming up with an idea, having the grit, doing the

an idea, having the grit, doing the brand, doing the distribution. That

brand, doing the distribution. That stuff's actually really really hard.

stuff's actually really really hard. financial engineering is is modelable.

financial engineering is is modelable. It's just it's the same every single

It's just it's the same every single time. It's just been gatekept by by Wall

time. It's just been gatekept by by Wall Street

Street >> money games. I I had this I had such an

>> money games. I I had this I had such an epiphany moment when I was like 20 23 24

epiphany moment when I was like 20 23 24 years old when my um a German group had

years old when my um a German group had basically bought the majority of my

basically bought the majority of my company out and I got to spend a lot of

company out and I got to spend a lot of time because we now had this German

time because we now had this German office. So, I was there a lot and I just

office. So, I was there a lot and I just observed this one individual who I shan

observed this one individual who I shan and I I I'm there building this business

and I I I'm there building this business and pitching to clients and doing all

and pitching to clients and doing all this hard work and I met him and he

this hard work and I met him and he says, "I don't want to do any hard work.

says, "I don't want to do any hard work. I just want to do deals."

I just want to do deals." >> And I was like, "Tell me more." And I

>> And I was like, "Tell me more." And I lent in. I'm like, "What do you mean

lent in. I'm like, "What do you mean deals?" Cuz I'm like, "I'm not sleeping

deals?" Cuz I'm like, "I'm not sleeping here." And this guy looks like he's

here." And this guy looks like he's sleeping like tremendous amounts of

sleeping like tremendous amounts of hours. And he was like, "I just want to

hours. And he was like, "I just want to play money games.

play money games. >> I want to be in the middle of the

>> I want to be in the middle of the transaction of the deal and taking

transaction of the deal and taking some." But then he's also when he says

some." But then he's also when he says money games is like leverage and

money games is like leverage and arbitrage

arbitrage >> raising money against an asset,

>> raising money against an asset, overvaluing that asset and buying lots

overvaluing that asset and buying lots of cheaper assets with the value of the

of cheaper assets with the value of the expensive asset.

expensive asset. >> And he made a lot of money doing exactly

>> And he made a lot of money doing exactly that and almost never working cuz he

that and almost never working cuz he understood exactly what you're saying is

understood exactly what you're saying is that really really rich people

that really really rich people understand money games.

understand money games. >> Just how to use money leverage to make

>> Just how to use money leverage to make more money.

more money. >> Look at the Forbes 100 list. It's all

>> Look at the Forbes 100 list. It's all comprised of people who do financial

comprised of people who do financial arbitrage in one way or another.

arbitrage in one way or another. >> How do I go learn that skill? Do I have

>> How do I go learn that skill? Do I have to go work in finance?

to go work in finance? >> No, you don't have to work in finance.

>> No, you don't have to work in finance. But I mean, the best business school is

But I mean, the best business school is always be in business. So, get into

always be in business. So, get into business and then obsess on one like I

business and then obsess on one like I think it's like tiered. Bottom level is

think it's like tiered. Bottom level is like understand a P&L. Most

like understand a P&L. Most entrepreneurs don't have a profit and

entrepreneurs don't have a profit and loss statement. They don't actually

loss statement. They don't actually track their profit and loss statement. I

track their profit and loss statement. I mean, we invested at a $60 million a

mean, we invested at a $60 million a year year business. The guy didn't have

year year business. The guy didn't have an up-to-date profit and loss statement.

an up-to-date profit and loss statement. It's incredibly common. I'm sure you see

It's incredibly common. I'm sure you see it. you look at a bunch of businesses

it. you look at a bunch of businesses too. Second level after a profit and

too. Second level after a profit and loss statement is do I understand where

loss statement is do I understand where my financing is coming from? All you

my financing is coming from? All you need to do to understand that is talk to

need to do to understand that is talk to your bankers like do you have a bank

your bankers like do you have a bank that will lend you money? Understand

that will lend you money? Understand why. Uh explain to them what you do and

why. Uh explain to them what you do and see if they understand it and how much

see if they understand it and how much money they'll give you. And then the

money they'll give you. And then the third level of the game is go and talk.

third level of the game is go and talk. Every like learning that needs to be

Every like learning that needs to be done is just getting in the room with

done is just getting in the room with other people who have their Tuesdays are

other people who have their Tuesdays are like your dream days. So I think you

like your dream days. So I think you know you want to get in a room with a

know you want to get in a room with a bunch of people who are doing deals.

bunch of people who are doing deals. That's how you do more deals.

That's how you do more deals. >> When I um I told you earlier we were

>> When I um I told you earlier we were talking about psychedelics before we

talking about psychedelics before we started recording.

started recording. >> Yeah.

>> Yeah. >> Um when I left my last company I had

>> Um when I left my last company I had that year and a half where I invested in

that year and a half where I invested in this massive psychedelics company and it

this massive psychedelics company and it was the pandemic. So we're working from

was the pandemic. So we're working from everyone was working from home. I was

everyone was working from home. I was working from the billionaire's apartment

working from the billionaire's apartment in London. And I got to see in the

in London. And I got to see in the leadup to the IPO he did 10 IPOs a year.

leadup to the IPO he did 10 IPOs a year. So I got to sit in his kitchen and he we

So I got to sit in his kitchen and he we used to work over there and I just got

used to work over there and I just got to see what was going on. And all he was

to see what was going on. And all he was doing was making phone calls to people

doing was making phone calls to people with lots and lots of money and he was

with lots and lots of money and he was giving them access to the IPO before it

giving them access to the IPO before it IPOed at a valuation which we all knew

IPOed at a valuation which we all knew was going to 10x. And I just thought, oh

was going to 10x. And I just thought, oh my god, like this is how rich people

my god, like this is how rich people make money. They have some kind of

make money. They have some kind of access or arbitrage and they move money

access or arbitrage and they move money around to capitalize on on these

around to capitalize on on these multiples. And I thought, [ __ ] hell,

multiples. And I thought, [ __ ] hell, like that's

like that's >> that's the game.

>> that's the game. >> Get around billionaires. I know it's a

>> Get around billionaires. I know it's a crazy thing, but you started a podcast.

crazy thing, but you started a podcast. >> I've done a podcast. Well,

>> I've done a podcast. Well, >> I'm slightly older than you guys. Like,

>> I'm slightly older than you guys. Like, I remember before the internet, before

I remember before the internet, before YouTube, before all of this sort of

YouTube, before all of this sort of stuff. There was no access to the this

stuff. There was no access to the this information. You couldn't get this

information. You couldn't get this information. And now you can you can

information. And now you can you can listen to podcasts. You can chat to chat

listen to podcasts. You can chat to chat GBT. You don't even have to get in the

GBT. You don't even have to get in the room and like it's it's all on the

room and like it's it's all on the internet. And it blows my mind because I

internet. And it blows my mind because I remember a time before that. I I love

remember a time before that. I I love what you said. I totally agree with what

what you said. I totally agree with what you said. I'm going to go with um the

you said. I'm going to go with um the one game that most people don't

one game that most people don't understand is bananas.

understand is bananas. That's the end of the podcast.

That's the end of the podcast. >> In lesson one of every economics class,

>> In lesson one of every economics class, they say if you've got 10 bananas and a

they say if you've got 10 bananas and a 100 people want a banana, you're going

100 people want a banana, you're going to have high prices and profit. Demand

to have high prices and profit. Demand outstrips supply. If you've got 10

outstrips supply. If you've got 10 bananas and only one person wants

bananas and only one person wants banana, you're going to drop the price

banana, you're going to drop the price of those bananas and you're going to

of those bananas and you're going to make a loss and your business is going

make a loss and your business is going to go badly. And what most people do not

to go badly. And what most people do not understand is that the whole game

understand is that the whole game relates to constrained supply and excess

relates to constrained supply and excess demand. And if you can't constrain the

demand. And if you can't constrain the supply and create excess demand, you

supply and create excess demand, you won't get a profit. You can take

won't get a profit. You can take something like Google Maps, which

something like Google Maps, which probably costs 500 million to set up and

probably costs 500 million to set up and and launch satellites and everything,

and launch satellites and everything, they have to give it away for free

they have to give it away for free because they have infinite supply. They

because they have infinite supply. They have they can supply everyone on the

have they can supply everyone on the planet with Google Maps. So, because

planet with Google Maps. So, because there's infinite supply, they just give

there's infinite supply, they just give it away for free. But Google Ads,

it away for free. But Google Ads, there's a limited number of people who

there's a limited number of people who can advertise on every search. So

can advertise on every search. So because that's limited, the the price

because that's limited, the the price goes up. So I have a client who saves

goes up. So I have a client who saves lives and they do first aid training and

lives and they do first aid training and they're an amazing person and they

they're an amazing person and they literally save children's lives and all

literally save children's lives and all this sort of stuff. And she's telling

this sort of stuff. And she's telling me, you know, why aren't I able to

me, you know, why aren't I able to trade, you know, charge more money? I'm

trade, you know, charge more money? I'm literally saving lives. I'm a really

literally saving lives. I'm a really good person and I'm very valuable. I say

good person and I'm very valuable. I say because the whole game, no one that

because the whole game, no one that that's not the game. The game is demand

that's not the game. The game is demand outstrip supply. So you need to

outstrip supply. So you need to constrain the supply of something and

constrain the supply of something and you need to manufacture excess demand

you need to manufacture excess demand and unfortunately as as much as you

and unfortunately as as much as you might be the most amazing human being if

might be the most amazing human being if you can't manufacture demand and supply

you can't manufacture demand and supply tension you can't make a profit.

tension you can't make a profit. >> I was hoping and thinking someone might

>> I was hoping and thinking someone might say hiring

say hiring >> because for me my answer is hiring.

>> because for me my answer is hiring. That's the first thing I go to. I

That's the first thing I go to. I remember Richard Branson sitting me down

remember Richard Branson sitting me down when we spoke in New York and saying

when we spoke in New York and saying listen I built one of the biggest groups

listen I built one of the biggest groups in Europe and my CFO had pulled me out

in Europe and my CFO had pulled me out of the room and said I don't know what

of the room and said I don't know what net profit is and he says my CFO got

net profit is and he says my CFO got crayons and a piece of paper and drew

crayons and a piece of paper and drew fishes in a net in an ocean and said

fishes in a net in an ocean and said Richard that's your net profit and then

Richard that's your net profit and then they walked back in the room and he was

they walked back in the room and he was at the time running one of the biggest

at the time running one of the biggest groups in Europe.

groups in Europe. When he said that to me, I was like,

When he said that to me, I was like, "Wow." He was like, "You don't really

"Wow." He was like, "You don't really need to know much if you're a really

need to know much if you're a really masterful delegator."

masterful delegator." >> And he said I was a dyslexic thinker.

>> And he said I was a dyslexic thinker. So, I was always forced from the very

So, I was always forced from the very beginning to just find someone to do it.

beginning to just find someone to do it. That was exceptional. And actually, the

That was exceptional. And actually, the further I've gone in my career, the more

further I've gone in my career, the more just like you figure out like

just like you figure out like >> the game, this game, that it's actually

>> the game, this game, that it's actually just a couple of fundamental things that

just a couple of fundamental things that sway the outcomes. Like most of the

sway the outcomes. Like most of the returns come from like a couple of

returns come from like a couple of things. In business, I've just come to

things. In business, I've just come to learn the further I've got that my

learn the further I've got that my returns come from truly exceptional

returns come from truly exceptional people, binding them with a culture and

people, binding them with a culture and then setting them the sort of strategy

then setting them the sort of strategy or more technical things that

or more technical things that >> I would agree with that. And the reason

>> I would agree with that. And the reason you can find such amazing talented

you can find such amazing talented people and so could Richard Branson is

people and so could Richard Branson is because first he could create excess

because first he could create excess demand for that role and then you could

demand for that role and then you could choose from that list.

choose from that list. >> So I go back to when I was 18. I was 18,

>> So I go back to when I was 18. I was 18, broke, drop out of university, parents

broke, drop out of university, parents aren't speaking to me, shoplifting food.

aren't speaking to me, shoplifting food. I managed to get a guy called Chris who

I managed to get a guy called Chris who was running a business to

was running a business to um stop his business. He was he was

um stop his business. He was he was double my age and successful to stop his

double my age and successful to stop his business and to decide to come and build

business and to decide to come and build a social network with a kid who was

a social network with a kid who was stealing Chicago town pizzas in

stealing Chicago town pizzas in Manchester who had never built a

Manchester who had never built a technology company before in exch I

technology company before in exch I didn't pay him in exchange for 30% of

didn't pay him in exchange for 30% of the company. And this goes back to this

the company. And this goes back to this whole thing about offers. My pitch, my

whole thing about offers. My pitch, my offer at that time, I was trading in

offer at that time, I was trading in future money, equity, and he believed in

future money, equity, and he believed in the value of the future money. So I say

the value of the future money. So I say to kids all the time, actually, you

to kids all the time, actually, you don't need to be in my position now.

don't need to be in my position now. You've all got future money. And the

You've all got future money. And the future money is determined by how good

future money is determined by how good your pitch is. Yeah.

your pitch is. Yeah. >> Your sell is.

>> Your sell is. >> But I think that goes back to that like

>> But I think that goes back to that like how I talk about pitching for money.

how I talk about pitching for money. That's your mightest touch. You didn't

That's your mightest touch. You didn't have profit.

have profit. >> You didn't have growth. You didn't have

>> You didn't have growth. You didn't have a track record. What did you have? An

a track record. What did you have? An incredible [ __ ] story. Yeah. So if

incredible [ __ ] story. Yeah. So if you got nothing else but a story, then

you got nothing else but a story, then you can hire people much smarter.

you can hire people much smarter. >> Exactly.

>> Exactly. >> This actually brings me to a point that

>> This actually brings me to a point that I haven't told the world about yet. I've

I haven't told the world about yet. I've just built something called culture

just built something called culture test. You can find it at culture

test. You can find it at culture test.com. Essentially, the thinking is

test.com. Essentially, the thinking is that one bad hire, as I'm sure all of my

that one bad hire, as I'm sure all of my guests here will agree, can ruin your

guests here will agree, can ruin your business. It can ruin your idea. So,

business. It can ruin your idea. So, culture test helps you figure out and

culture test helps you figure out and spot red flags and people you're

spot red flags and people you're thinking of working with or currently do

thinking of working with or currently do work with by making a personalized

work with by making a personalized culture test survey and it scores that

culture test survey and it scores that person in terms of how aligned they are

person in terms of how aligned they are to you and your mission. It has been a

to you and your mission. It has been a gamecher for my business. We've culture

gamecher for my business. We've culture tested about 40,000 people. I just wish

tested about 40,000 people. I just wish I was doing this before. Check it out.

I was doing this before. Check it out. Cultureest.com. Make your own culture

Cultureest.com. Make your own culture test. Use it and thank me later. Alex,

test. Use it and thank me later. Alex, you you've got this book about to drop

you you've got this book about to drop called 100 million money models. What is

called 100 million money models. What is the one money model in this book that's

the one money model in this book that's added the most to your net worth?

added the most to your net worth? >> So, it's more the concept. So, like each

>> So, it's more the concept. So, like each of the the so offers had the value

of the the so offers had the value equation which is kind of the core

equation which is kind of the core concept that the book was built around.

concept that the book was built around. Uh the lead's book was about the core

Uh the lead's book was about the core four um the ways to promote anything.

four um the ways to promote anything. And so, $100 million money models is

And so, $100 million money models is about client finance acquisition which

about client finance acquisition which is fundamentally how you get customers

is fundamentally how you get customers to fund your own expansion. And so Cody

to fund your own expansion. And so Cody said this earlier, but depending on the

said this earlier, but depending on the source, it's roughly like 80% of

source, it's roughly like 80% of businesses fail because of uh poor cash

businesses fail because of uh poor cash flow or they they just don't have enough

flow or they they just don't have enough money, right? And the other 20 is

money, right? And the other 20 is probably just people just give up. And

probably just people just give up. And so as long as you don't give up, the

so as long as you don't give up, the reason you go to business is you just

reason you go to business is you just don't have cash flow. And so that book

don't have cash flow. And so that book solves cash flow, which is why the sub

solves cash flow, which is why the sub headline is how to make money, which is

headline is how to make money, which is pretty pretty on the nose. But

pretty pretty on the nose. But fundamentally like each of the examples

fundamentally like each of the examples that I had in my business um and I

that I had in my business um and I define that within client fun

define that within client fun acquisition as I define it when you have

acquisition as I define it when you have like a $100 million money model is that

like a $100 million money model is that you're able to get a customer to pay you

you're able to get a customer to pay you twice as much as you spend on them in

twice as much as you spend on them in the first 30 days. And by doing that the

the first 30 days. And by doing that the the more specific equation would be that

the more specific equation would be that your 30-day gross profit from a customer

your 30-day gross profit from a customer exceeds two times CAC plus COGS meaning

exceeds two times CAC plus COGS meaning CAC is in cost of car customer plus cost

CAC is in cost of car customer plus cost uh COGS which is cost of goods sold. So,

uh COGS which is cost of goods sold. So, how much does it cost me to get them?

how much does it cost me to get them? How much does it cost me to deliver

How much does it cost me to deliver them? Times two. If I can get that from

them? Times two. If I can get that from one person, then for the rest of my

one person, then for the rest of my expansion, all the customers finance the

expansion, all the customers finance the acquisition of the next customer and

acquisition of the next customer and then cash flow is no longer a constraint

then cash flow is no longer a constraint of the business. You'll still have

of the business. You'll still have constraints, you'll still have supply

constraints, you'll still have supply constraints, you still have hiring

constraints, you still have hiring constraints, you'll still have other

constraints, you'll still have other constraints, but cash won't be one of

constraints, but cash won't be one of them. And so, as a result, you can grow

them. And so, as a result, you can grow B pretty much as fast as you can handle.

B pretty much as fast as you can handle. And so, that is how I've grown all the

And so, that is how I've grown all the companies that I've started without

companies that I've started without funding and been able to grow very fast

funding and been able to grow very fast in each of them um is with that core

in each of them um is with that core concept.

concept. Thank you. Thank you for uh choosing to

Thank you. Thank you for uh choosing to be here today. And I invited you here

be here today. And I invited you here because you're the three people that

because you're the three people that guide me, that I listen to, that I think

guide me, that I listen to, that I think have the most credible, important

have the most credible, important information that can guide my audience.

information that can guide my audience. And I know who they are. They're people

And I know who they are. They're people that want to improve their lives in some

that want to improve their lives in some subjective medium to that the northstar

subjective medium to that the northstar that they have. And you all represent

that they have. And you all represent different perspectives and also

different perspectives and also different strategies. But there's so

different strategies. But there's so much so many overlaps that I think

much so many overlaps that I think actually getting three people like you

actually getting three people like you around the table to understand where we

around the table to understand where we overlap and where you think the same is

overlap and where you think the same is incredibly powerful. Um, I highly

incredibly powerful. Um, I highly recommend everybody goes and reads Cody

recommend everybody goes and reads Cody Sanchez's book, Main Street Millionaire,

Sanchez's book, Main Street Millionaire, >> how to make extraordinary wealth buying

>> how to make extraordinary wealth buying ordinary businesses, which is really

ordinary businesses, which is really what, you know, one of the things Cody

what, you know, one of the things Cody has pioneered the idea of um, and made

has pioneered the idea of um, and made accessible to the masses because most

accessible to the masses because most people didn't think you could do that.

people didn't think you could do that. So many of my friends are now buying

So many of my friends are now buying boring businesses, as Cody says, because

boring businesses, as Cody says, because Cody has laid out a framework to do that

Cody has laid out a framework to do that and to create wealth in this book. And

and to create wealth in this book. And my favorite book of Daniel, if I was

my favorite book of Daniel, if I was over subscribed, how to get people

over subscribed, how to get people lining up to do business with you. And

lining up to do business with you. And there's so many that I could have chose

there's so many that I could have chose from, but also you all have YouTube

from, but also you all have YouTube channels and your YouTube channels are

channels and your YouTube channels are amazing. So, I'd ask my audience, I'm

amazing. So, I'd ask my audience, I'm going to link them all below, to go and

going to link them all below, to go and check out your YouTube channels. Um,

check out your YouTube channels. Um, Daniel, you're just starting out on

Daniel, you're just starting out on YouTube. You're getting you're getting

YouTube. You're getting you're getting your your feet wet in YouTube.

your your feet wet in YouTube. >> But, but Cody and Alex have been making

>> But, but Cody and Alex have been making so much incredible actionable content. I

so much incredible actionable content. I love one of your new your new formats

love one of your new your new formats where you sit with someone and you sort

where you sit with someone and you sort of redesign their business with them.

of redesign their business with them. and Cody's been making some of the most

and Cody's been making some of the most entertaining and informative content on

entertaining and informative content on on how to get going with with simple um

on how to get going with with simple um companies and businesses for the longest

companies and businesses for the longest time. So, please go check out their

time. So, please go check out their their work and go follow them on social

their work and go follow them on social media. These are the people that I

media. These are the people that I admire the most in this space. And if

admire the most in this space. And if you like what we do here on the

you like what we do here on the Darvisio, you're going to love what they

Darvisio, you're going to love what they do. So, thank you so much everybody for

do. So, thank you so much everybody for being here, for being so generous with

being here, for being so generous with your time and hopefully we'll do this

your time and hopefully we'll do this again sometime soon.

again sometime soon. >> This has always blown my mind a little

>> This has always blown my mind a little bit. 53% of you that listen to this show

bit. 53% of you that listen to this show regularly haven't yet subscribed to the

regularly haven't yet subscribed to the show. So, could I ask you for a favor

show. So, could I ask you for a favor before we start? If you like the show

before we start? If you like the show and you like what we do here and you

and you like what we do here and you want to support us, the free simple way

want to support us, the free simple way that you can do just that is by hitting

that you can do just that is by hitting the subscribe button. And my commitment

the subscribe button. And my commitment to you is if you do that, then I'll do

to you is if you do that, then I'll do everything in my power, me and my team,

everything in my power, me and my team, to make sure that this show is better

to make sure that this show is better for you every single week. We'll listen

for you every single week. We'll listen to your feedback. We'll find the guests

to your feedback. We'll find the guests that you want me to speak to and we'll

that you want me to speak to and we'll continue to do what we do. Thank you so

continue to do what we do. Thank you so much.

much. [Music]

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The Money Making Experts: This 3-step offer formula makes $20,000 per month!