[Music]
there’s a lot of opinions that message
me in st. Pat one day I’m running a
billion dollar company and I’ll send a
message back and say how and they say
that’s why I need your help to build a
billion dollar company see saying that
statement it’s it’s it’s exciting
because you know it’s very similar we’re
excited we’re inspired we watch a video
we watch a movie maybe a documentary
saying I’m going to be the next Steve
I’m going to be the next is I want to be
the next Elon I’m going to build a
billion dollar company
then comes the how to the logic later
then we’re stuck and if we give up it’s
like it’s important you need the emotion
it’s like when you fall in love with a
girl and these I love you so much I
think this is great and that emotional
leads to sex and then you have a baby
then he said how do I raise this kid
well that’s the real work same exact
principle mo be a billion dollar company
how am I going to build this company up
so that’s one thing to keep in mind
there’s nothing wrong with that we need
more inspiration more motivation but
today I’m going to give you a little bit
logic to be thinking about first of all
before I build a billion dollar company
I got to build a million dollar business
and how do I get to a million dollar
business how do I get to ten million and
how many companies are there that are
really doing this and how do they think
I can tell you for myself
I went from starting the company and
from scratch nothing 100% my savings
didn’t get along from anybody didn’t go
raise capital nothing 100% all my
savings was put into it every single
penny I had was put into the business
and we took that from there now too you
know we’re getting offers of 100 million
dollars for the company and I went from
0 to 100 million in seven years and so
I’m going to talk about some of those
principles for you to be thinking about
then at the same time I want you to be
seeing this here on how many billion
dollar companies are out there so here’s
what it is there are 30 million
companies in America that are registered
in America 30 million dollar 30 million
companies 96% of them gross less than a
millionaire
keep that in mind 96 percent of them do
less than a million dollars per year
only four percent do more than a million
dollars per year that’s 1.2 million
companies do a million dollar a year or
more in revenues 0.4 percent which is
120,000 companies do more than 10
million
at a thirty million only 120,000 do over
ten million dollar in revenues let me
explain to what that means out of all
the people in America to make six
figures you’re under 20 percentile 20%
of Americans household make a six-figure
income now the 1% number I want to be a
one percenter one percenter is shy of
$400,000 a year income we’re talking
about 0.4% of companies do ten million
dollars or more per year then point zero
zero zero six zero zero zero six that’s
eighteen thousand companies do more than
50 million this is like a prime you’re
here you’re good you get over 10 million
you have respect now from peers 50
million there’s only eighteen thousand
if you want to get to point zero zero
zero nine percent twenty five hundred
companies do more than five hundred
million dollars of revenue per year and
then you have the ultimate fortune 500
companies that’s point zero zero zero
two percent you’re doing more than 5
billion per year and this is a top 10
currently right now of Fortune 500
companies number 10 is AT&T then it’s
Ford then GM then CBS held the
UnitedHealthcare grouped and then
McKesson then Berkshire Hathaway then
it’s Apple then it’s Exxon then Walmart
number one in America 2.2 million
employees in the world
I think 1.6 million in America is what
they have so now what is it what is the
biggest difference between these guys
and these guys the majority is under a
million how do I even get to a million
dollar business what’s the difference
what’s the difference between these guys
because that’s four percent that’s point
four percent what is that that’s what
we’re going to talk about so first
things first when I had a group of these
entrepreneurs that flew in a couple
weeks ago from all over the world they
came from all over the world they won
the contest for us getting to a hundred
thousand subs and I’m you know most
likely when we get to quarter million
subs we’ll put the same contest again
for people to flying and we’ll do the
same structure maybe at a different
place but we went for hours after hours
dissecting businesses and the first
question I asked all the entrepreneurs
what’s the one thing that most people
don’t have a mind the first question I
asked I said I need you to tell me
clearly what your vision is with your
business what is your vision with your
business
because in reality most of them 96%
don’t have any idea what they’re doing
they don’t even know why they started a
business it’s generally just pure
excitement enthusiasm I hate my boss I
hate my job I don’t ever want to work
for anybody else I want to start a
business that’s pretty much how it
starts right but if you want to get to
the higher level and build a
billion-dollar company or something that
maybe one day will be valued at a
billion dollar company you need to be
very clear about what you want what is
your vision what is your long-term
vision what are we doing what are we
doing five years from now what are we
doing ten years from now what do you
want to be who do you want to be what do
you want to be is it clear to you do you
know exactly where you’re going do you
know exactly what you want to do I did a
video last week and it was called the
biggest mistake marketers make and in
this video the biggest mistake marketers
make I explained how everybody wants
everybody to be their customers they
want to appeal to every single person if
you haven’t watched you got to watch
this video but the ones that do very
well they understand exactly what clear
vision they have who’s their customer
and they stay in that lane the entire
time so the first thing I will tell you
to build a big company is you got to
have a vision I remember the night when
we had a meeting September 23rd
everybody talks about it all the time
and I pulled in the agents and I told
them we are starting a new company this
is the first thing I told everybody that
night till today everyone talks if I got
up and I said there’s a 90% chance we’re
going out of business within six months
that was my opening line there this is
recorded there’s a 90% chance we’re
going out of business my wife is
standing in the back we’ve just been
married for three months my father’s
telling me don’t do it I said I’m
putting every single dime I’ve ever
worked for in safe into this deal 100%
of it because I’m crystal clear of the
vision of what we’re going to be doing I
don’t know what it is but this is very
crystal clear here’s what we got to do
this is what the industry needs this is
what we’re going to be doing and I cast
the division and you can cast the vision
and try to motivate but if it ain’t
clear everyone knows that this was a
very clear vision and we had some that
they don’t want to take up and I told
him I said if you don’t want to do
anything like this I fully understand it
because we’re going to have a lot of
problems the first year two years and if
you can’t handle that go with a bigger
company if you do want to go with us you
mark my word every day every night we’re
going to bust our till till this thing
becomes a reality
there’s a certain sense of vision and
clarity the bigger the businesses being
build there’s something that’s deeper
than just let’s build a business
together number two its patience you got
to have patience but not not patience
because there’s two different types of
patients that are sold to people there’s
one patients like listen be patient
everything’s going to be okay
be patient everything’s going to be okay
be patient you’re young just be patient
just be patient I don’t believe in that
here’s why my father who raised me and I
would give him credit into helping me
become a leader there’s a lot of great
men in my life that I’ve impacted me
many of them and one day I’ll do video
not tell list them
my father’s at the top of this but I’ll
list these men not in any order how they
impacted me but my father was always the
opposite
my father wasn’t saying be patient be
patient my father was you’re gonna be 65
years old tomorrow what are you doing
how many times you need to go to the
nightclub let’s go already and I kind of
leave me alone man I’m 22 years old I’m
21 years old I’ve got to live it up how
many more girls you want Pat how many
how many more girls do you need I mean
what do you need to feed your appetite
already Dan what is wrong with you right
there is that part where people into
just be patient my dad wasn’t that my
dad would say let’s go what are we
waiting for let’s go let’s go and by the
way he was like that since I was a kid
he’d wake me up in the morning with
water spray on my face let’s go wake up
and he was never in the military wake up
I’m like that I want to sleep five more
minutes oh really no problem I know what
that meant he would go bring the spray
no hesitation perps it would wake me
myself that’s abusive he taught me to be
aggressively patient there’s a big
difference between patience and
aggressively patient what’s patient then
it’s gonna be okay just relax oh it’s
gonna be I’m just gonna go home had a
bad day today because I’m going to be
patient
that’s all good man tomorrow’s another
day it’s another day it’s another day
you know how many times can you say it’s
another day till you’re 80 years old
that’s about 18,000 times I don’t know
how many days it isn’t you know however
many times eventually or 68 years of
what another day it’s another day it’s
another day another day no no it’s
another day once I come home I’m so
tired
I don’t even make it to my bed I sleep
on the floor yes you can be patient
that’s aggressively patient so now just
be patient be aggressively patient
number three
adapting and adjusting here’s why on
this list I wanted to put product I
didn’t put product under here’s why I
didn’t put product there’s a lot of
companies that don’t have the best
products in the world that are
multi-billion dollar companies that we
use regularly they don’t have the best
product how do they do it
it’s adapting it’s adjusting its seeing
what the market demands today it’s
seeing what’s needed five years from now
it’s no one as a quarterback you’re
playing all of a sudden you notice it’s
third down and three and you know they
know what they’re calling they’re going
to call a blitz and you notice the two
linebackers step up maybe corners came
in a little bit
safety backed up you look at one your
guys and you say hey I’m calling an
audible you change it up fullback comes
to the back you go to the back you go
boom this way next thing you know this
guy opens up boom he runs you throw it
you got a touch and you have to call an
audible because you caught something you
read something right you’re looking at
everything that’s moving same exact
energy you got to have if you want to
build a bigger billion dollar company or
even a hundred million dollar company
you got to have that ice set to know you
got to adapt and you got to just point
number four stick into your philosophy
stick into your philosophy listen
everyone says the greatest college
basketball coach of all time is John
Wooden it took him 29 years to win a
championship after coaching for 29 years
without winning a single thing then he
won what is it 11 he won 29 years he was
just an average coach let me say that
one more time
29 years he’s just an average coach 29
years then he’s John Wooden I was there
the night he passed away at Ronald
Reagan Hospital his pastor is a good
friend of mine Dudley brother we were
there when he passed away at the Ronald
Reagan 99 years old everybody’s coming
in to visit this guy he was he was
everyone’s father figure man people love
this guy
29 years he was just a regular coach
until he became a champion at 29 30
years of coaching then he’s considered
the greatest but for 29 years he was a
nobody why what happened he stuck to his
philosophy by the way his philosophy is
completely different than others no
cursing no he was just there is no
cursing with them he is not about the
best player type of guy he’s about the
team and give me your best I want you to
try your hustle rebound all this stuff
he had very basic principles improve
beat your progress focus on hiking and
probe I need you to play defense I need
you to hustle back I need you to do
the best screen I need you to be a good
teammate I don’t you be a good man I
need you to focus on your character
Nugent fall that was his philosophy not
the course of what do you talk man then
he got a coach like Jimmie Johnson
Dallas Cowboys and before Dallas Cowboys
he was coaching it was in Miami
Hurricanes and so he was you know what
kind of players he liked here’s who
Jimmie Johnson like he like tough guys
give me Michael Irvin troublemakers give
me crazy cursing ladies and Jimmy had a
reputation as well all they give me
those guys that’s why I want give me a
Leone let give me a Michael Irvin give
me Emmet’s me give me some crazy players
and let’s go to war against the enemy
anyone championships and it hasn’t
happened since him even though people
say well spit Serrano a champion yeah
it’s really not him it was really heaven
special was a good coach as well in
college when he had different people he
was doing what is the point
stick to your philosophy you got a
philosophy you stick to it the more you
change your philosophy in your business
and your company you’re not giving it
enough timeline to create momentum
philosophies need time to create
momentum constant change of philosophies
then you’re ruining your long-term
possibilities of having high returns on
your business number five leadership you
know you know what’s crazy you know
what’s crazy
I want you to think about this I want on
YouTube about a year ago year and a half
ago and I typed in the word leader and a
Mario and I did it again just recently
so guys look how insane this is look how
I’m saying this is go on YouTube and
type in a word leader or leadership
there is no one even cares to want to
study leadership online we did videos
and we put title leaders or how to be a
great leader on all this stuff it would
always be ah it’s just people wouldn’t
click on it because the titles not
attractive like I have whatever I don’t
know I know what it is to be a leader to
set an example no all this other stuff
listen let me tell you I did a meeting
at Oheka castle this past week we rented
the entire place it’s 150 million dollar
property gary owns it very classy man we
rented out the entire place 32 rooms and
I brought 60 people to know with their
spouses total 60 people we had dinner
food all this stuff we did and one of
the nights while we’re there I said look
there are a lot of great speakers from
stage there are a lot of people that do
very good job speaking from stage but
you don’t build big companies because of
how great
you speak from stage you build big
companies because how great you are
behind closed doors that’s how you build
a big company when you say you know what
John in my office let’s talk what’s your
problem what’s going on what’s bothering
you you’re not the same what is going on
did I do something we need to talk about
it what’s up I don’t like your behavior
man this is affecting other people I
heard you’re talking negatively about
somebody you okay I don’t remember you
being on like this path you just that’s
leadership and if you think this is just
being on a cover of a magazine and I’m
going to be cool and I’m going to be a
celebrity and my cousins and my guys
that we went to school and I’m going to
be mr. cool you forbid than a big
established company because it has
nothing to do with you it has all to do
with the team you’re building and if you
don’t know how to lead a team you’re not
going to recruit the right talent you’re
not gonna keep the right talent you’re
not gonna you know drive the right
talent you’re not going to know how to
push the people competition overcoming
enemies lawsuits champions as our
leadership negotiates our leadership
it’s all leadership so whoever you
better believe Steve Jobs was a great
leader eventually maybe solve first time
he was I still think even though he was
at that time because he was chippy he
just wanted it so bad and nobody
understood him you know it’s like a
younger Tony LaRussa for some of you
guys I follow sports
right next number six marketing and
positioning I’m going to do a video on
positioning to explain positioning
little bit more because I don’t want to
take that’s a whole episode by itself
marketing and positioning it’s a little
bit on what I talked about in the last
episode when I said biggest mistake
marketers make well who do you want to
be market yourself in position yourself
and stay there how are you going to
market yourself you know Apple was very
big on how to market themselves think
different this is who we are we are not
like everybody else but man your
computer keeps giving prompts it doesn’t
matter we’re different I’m telling you
computer gives prompts we’re different
it sucks we’re different eventually
guess what we bought we’re different and
now they’re the third I think biggest
company in America because we finally
bought the fact that Apple is simply
different they market different they
launch different they position different
their computers were three thousand
dollars you can buy thousand dollar
computer guess what they said I don’t
care don’t buy our computer
what do we do we bought their computer I
don’t care I’m not going to put
Microsoft Word and all this stuff on
here don’t buy our computer we still
about it I don’t care I’m not putting
flash in our computer we still about it
we still bought it because it’s
positioning your marketing next is
discipline 7 discipline so what’s
discipline discipline is personal
discipline personal life discipline your
financial discipline how you handle your
money discipline when you buy the bigger
items for your self discipline I
remember first thing I told my wife when
we started a company I said for five
years we’re not buying a house babe what
are you talking about said five years I
don’t even want to talk about buying a
house zero nothing
we have money we’re not buying a house
100 percent of business that took
discipline it wasn’t easy because we
could afford to buy a house but it’s
disciplined five years we said all money
into the business discipline discipline
is coming in working after big victory
you had something great happen you want
to see all man I am King Kong you got to
come in and be disciplined that’s what
this one is every day coming to work I
can’t say how many people just say well
you know I don’t come to work you my
work from home really you you you think
babe if you want to be a 4-hour workweek
all good that’s your mo all good but I
don’t know who you want to be I’m
talking to people I want to build some
companies and by the way have you ran a
bill I’ve never ran a billion-dollar
company you know I was part of a billion
dollar company but I started a company
and we took it to a hundred million and
that’s what we’ve done
valuation at around a hundred million
dollars but hey what’s the go I’m
talking to people that want to be on
this conversation here some of you guys
could be a 15 year old guy watching the
studies you know religiously all these
value came in videos seven years from
now you could build a next
billion-dollar company you you I’m
talking to you not the other guy to you
to UM who I’m talking about
that’s why I’m talking to I’m not
talking to the 4-hour workweek audience
before our work with audience there’s
plenty of YouTube guys for you I’m not
the guy for 4-hour workweek audience
when I say entrepreneurs to me
entrepreneur somebody that starts a
business with employees and there’s a
product involved that we’re selling the
product is not a book or video on
YouTube for me to make money with no
there’s a real legitimate business that
we’re running real legitimate business
that we’re running is what I’m talking
about okay alright so that was
discipline eight opportunistic you got
to be opportunistic
you know certain things will come up
what is opportunistic
look at industries that have problems
don’t be like everybody else and follow
the curve you know I got involved in an
industry that nobody wanted to touch you
know when I would tell my friends I said
hey what are you gonna be doing my
friend would say I’m starting a startup
that’s for online dating like that’s
sexy what are you doing I’m starting
gate you know online app is for
nightclub that was a very cool idea how
about that was sexy what are you doing
I’m starting an app an online app for
people’s like uber for dentist and it’s
only $99 you don’t need any health or
some company that’s like that’s a cool
idea there okay Pat so what are you
doing I’m selling the life insurance and
I’m sorry come again what are you doing
I’m selling life insurance and then all
of sudden everybody disappears see but I
love it drives people crazy doesn’t it
like even writing something Pat what do
you sell I chose to be part of the life
insurance industry here’s why the
industry needed help
nobody was wanting to revolutionize this
industry that’s been doing business as
usual for the last 40 50 years and we
have disrupted the industry and we’re
okay with that we were opportunistic we
saw an opportunity and we said we’re
going to make a difference in this
industry its benefit a lot of people you
got to figure out a way to be
opportunistic next point number 9 you
need luck there is luck involved
fully luck involved a lot of people are
you know whatever we are you know luck
all the sudden there’s luck you got to
be at the right place right time you
meet the right people you bring them on
board you recruit them they become an
executive they do well they bring an
investor that comes in introduce you to
a technology guy another guy that’s a
great coder
who build the software for eBay that
they bring on board and next you know
you create this app it speeds up
everything boom it takes you from a 50
million dollar company to a 3 billion
dollar company need some luck now all
that stuff still needs aggressively
patient you’re working but there’s luck
involved in there there’s nothing wrong
with getting lucky
and I’m going to say something here that
that may sound crazy you know when this
year ok this year this is going to be
crazy comment to make look at 2016 how
strange it is Chicago Cubs won the World
Series I mean that’s like you know ones
allow some Chicago Cubs on the world
series the last time Chicago Cubs on the
world series Alexander the Great was
alive I mean you know I mean it’s been
1,500 years I’m being sarcastic
but you get the idea you know who else
want the championship this year
Cleveland Cavaliers do you know what’s
the last time the city of Cleveland won
anything a long time ago do you know
what else happened this year a guy named
Donald Trump
it is a president what the hell is going
on in 2016
very simple you know what’s going on in
2016 this is the year of the underdog I
don’t know what’s going on up there the
gods of success or the God the man
upstairs is watching saying I’m going to
shock everybody in America this year
everyone in America is going to be kind
of shocked this year if I told you
beginning of year January 1st guess what
this year
cops are winning the World Series Cavs
are winning the championship Donald
Trump’s going to win the presidency I’d
say I’m at a million dollars I bet a
million if I win you give me a million
if I win you give me a hundred dollars
if you win I give you a million dollars
would you take that but you would take
that I would take that bet we got Trump
Cubs and caps what happened sometimes
sometimes when the gods of success want
somebody to win and there’s some magic
destiny stuff I believe that 100% I
really believe there’s people watching
down and they’re saying this person’s
been busting his or her tail without
anybody seeing it guess what he’s a
spring here’s a sprinkle of miracles
happening put the right people around
them and look what happens in all of
them everything you touch gold gold gold
gold gold gold gold man this thing is so
easy no no you have favors what you have
there’s something that’s going on in
2016 there was a strange energy in the
world so you need a little bit of luck
in business number 10 long-term thinking
you can’t just be thinking right now a
long-term billion dollar company
long-term billion dollar company million
dollar company long-term you wanna build
a 10 million dollar company long-term
you won’t make a million year long-term
you can’t just say I’m B million in six
months no you can’t imma be not saying
you cannot it does happen how about this
guy path that guy on the magazine said
he made a million dollars at six years
old because he came out with the stuff I
get it there’s exceptions Michael Jordan
jumps 49 inches I can go do calves and
quads for the rest of my life I’ll be
lucky if I can jump 24 inches I’m not
jumping 49 inches okay
but the point I’m trying to make to you
is this if you
long-term and you constantly improving
and adjusting you eventually are going
to have a shot at the big timers big
times if you do your part but number 11
lots of battle scars so you got a handle
now here’s the difference between battle
scars some will heal some are healing
some may never heal okay you need to
know that about battle scars when you go
in the ring and you decide to go at it
with some fighters they’re also pros
you’re going to have somebody’s going to
punch you boom you got a scar in that
one Hills right then you got one you get
a hit boom that one still takes a couple
weeks to heal and then sometimes you’re
going to get hit and you may broke break
a bone that forever that stays a little
bit you can heal but it’s got a little
bit of thing that changes in a world of
business you’re going to have to slay a
lot of dragons in the world of business
you’re going to have to face with some
heavyweight battles may be your only
middleweight going to a guy twice your
size you got to be good hang with them
that’s the big boy club the big girl
club this is not the friendly word did
the negotiation rooms up there or not
how are you how you doing how’s your
family how’s your wife has your husband
how’s your kids know how much money is
this going to make us
that’s the negotiation things change a
little bit you got to be able to hang in
those rooms and last but not least last
but not least and this is the confusing
one for most people here’s last but not
least it cannot be about the money crazy
huh it cannot be about the money if it’s
about the money you’ll stop at some
point if it’s about the money
if it’s simply about I’m going to build
a billion-dollar companies gonna put it
in their face you’ll stop at some point
then what then there’s emptiness what is
it about but it can’t be about the money
I mean I can’t wait to be a millionaire
and then what it’s got to be about
improving something it’s got to be about
a vision it’s gotta be about changing
something it’s got to be about
correcting an injustice it’s gotta be
wrought finding the way that’s gonna
fill a need that another person is not
doing as good as you are it can’t just
be about the money and I got two books
to recommend you right now when I saw
Dennis riding on the sand that pen was
the marker for me I got two books to
recommend you that I want you to read
one of them one of them is called as via
Andy Grove
he was the forum he was
the founder of Intel but this guy he
just passed away and I’ve recommended
this book in a couple videos in the past
before you got to read this book if you
haven’t read it’s an older book some of
the concept stories are older but you
got to read it’s called only the
paranoid survive only the paranoid the
higher you go you go higher you go you
got to be a little bit more paranoid
only the paranoid survive because when
you have success sometimes you’re so
confident then you believe in yourself
then all of a sudden you’re Mike Tyson
facing Buster Douglas and oh my gosh I
just got knocked out okay because
everybody at that level is a pro for
reason right when these you see these
best teams in the NBA they typically
lose to who you know who they lose to
the worst teams you know why because it
came in like we’re going to kill them
the Analects score 50 points a night
those guys that are the worst team
they’re still better than everybody else
who is not you know amateurs they’re the
worst professionals but there’s still
professionals you’re facing
professionals you need to be ready for
it so one is only the paranoid survive
the other one is called competition by
Michael Porter it’s about strategy and I
think it’s called strategy execution
something like that by Michael Porter
that you got to read he’s a Harvard
professor good content that he has
because you need strategy you need to be
paranoid and all them will pretty much
give you some concepts on what to do for
you to build a company that maybe one
day could be evaluated at a billion
dollar company which is kind of cool to
be a part of that but it can be about
the money then it’s let’s get our pillow
here this pillow I think that’s the last
year for this pillow right this pillow
is going to retire this year all right
here we go this pillow is going to
retire here in 2016 and will bring a new
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calm Bom haven’t done this it still
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for a while apparently still does works
anyways thanks for watching everybody take care bye bye
there’s a lot of opinions that message
me in st. Pat one day I’m running a
billion dollar company and I’ll send a
message back and say how and they say
that’s why I need your help to build a
billion dollar company see saying that
statement it’s it’s it’s exciting
because you know it’s very similar we’re
excited we’re inspired we watch a video
we watch a movie maybe a documentary
saying I’m going to be the next Steve
I’m going to be the next is I want to be
the next Elon I’m going to build a
billion dollar company
then comes the how to the logic later
then we’re stuck and if we give up it’s
like it’s important you need the emotion
it’s like when you fall in love with a
girl and these I love you so much I
think this is great and that emotional
leads to sex and then you have a baby
then he said how do I raise this kid
well that’s the real work same exact
principle mo be a billion dollar company
how am I going to build this company up
so that’s one thing to keep in mind
there’s nothing wrong with that we need
more inspiration more motivation but
today I’m going to give you a little bit
logic to be thinking about first of all
before I build a billion dollar company
I got to build a million dollar business
and how do I get to a million dollar
business how do I get to ten million and
how many companies are there that are
really doing this and how do they think
I can tell you for myself
I went from starting the company and
from scratch nothing 100% my savings
didn’t get along from anybody didn’t go
raise capital nothing 100% all my
savings was put into it every single
penny I had was put into the business
and we took that from there now too you
know we’re getting offers of 100 million
dollars for the company and I went from
0 to 100 million in seven years and so
I’m going to talk about some of those
principles for you to be thinking about
then at the same time I want you to be
seeing this here on how many billion
dollar companies are out there so here’s
what it is there are 30 million
companies in America that are registered
in America 30 million dollar 30 million
companies 96% of them gross less than a
millionaire
keep that in mind 96 percent of them do
less than a million dollars per year
only four percent do more than a million
dollars per year that’s 1.2 million
companies do a million dollar a year or
more in revenues 0.4 percent which is
120,000 companies do more than 10
million
at a thirty million only 120,000 do over
ten million dollar in revenues let me
explain to what that means out of all
the people in America to make six
figures you’re under 20 percentile 20%
of Americans household make a six-figure
income now the 1% number I want to be a
one percenter one percenter is shy of
$400,000 a year income we’re talking
about 0.4% of companies do ten million
dollars or more per year then point zero
zero zero six zero zero zero six that’s
eighteen thousand companies do more than
50 million this is like a prime you’re
here you’re good you get over 10 million
you have respect now from peers 50
million there’s only eighteen thousand
if you want to get to point zero zero
zero nine percent twenty five hundred
companies do more than five hundred
million dollars of revenue per year and
then you have the ultimate fortune 500
companies that’s point zero zero zero
two percent you’re doing more than 5
billion per year and this is a top 10
currently right now of Fortune 500
companies number 10 is AT&T then it’s
Ford then GM then CBS held the
UnitedHealthcare grouped and then
McKesson then Berkshire Hathaway then
it’s Apple then it’s Exxon then Walmart
number one in America 2.2 million
employees in the world
I think 1.6 million in America is what
they have so now what is it what is the
biggest difference between these guys
and these guys the majority is under a
million how do I even get to a million
dollar business what’s the difference
what’s the difference between these guys
because that’s four percent that’s point
four percent what is that that’s what
we’re going to talk about so first
things first when I had a group of these
entrepreneurs that flew in a couple
weeks ago from all over the world they
came from all over the world they won
the contest for us getting to a hundred
thousand subs and I’m you know most
likely when we get to quarter million
subs we’ll put the same contest again
for people to flying and we’ll do the
same structure maybe at a different
place but we went for hours after hours
dissecting businesses and the first
question I asked all the entrepreneurs
what’s the one thing that most people
don’t have a mind the first question I
asked I said I need you to tell me
clearly what your vision is with your
business what is your vision with your
business
because in reality most of them 96%
don’t have any idea what they’re doing
they don’t even know why they started a
business it’s generally just pure
excitement enthusiasm I hate my boss I
hate my job I don’t ever want to work
for anybody else I want to start a
business that’s pretty much how it
starts right but if you want to get to
the higher level and build a
billion-dollar company or something that
maybe one day will be valued at a
billion dollar company you need to be
very clear about what you want what is
your vision what is your long-term
vision what are we doing what are we
doing five years from now what are we
doing ten years from now what do you
want to be who do you want to be what do
you want to be is it clear to you do you
know exactly where you’re going do you
know exactly what you want to do I did a
video last week and it was called the
biggest mistake marketers make and in
this video the biggest mistake marketers
make I explained how everybody wants
everybody to be their customers they
want to appeal to every single person if
you haven’t watched you got to watch
this video but the ones that do very
well they understand exactly what clear
vision they have who’s their customer
and they stay in that lane the entire
time so the first thing I will tell you
to build a big company is you got to
have a vision I remember the night when
we had a meeting September 23rd
everybody talks about it all the time
and I pulled in the agents and I told
them we are starting a new company this
is the first thing I told everybody that
night till today everyone talks if I got
up and I said there’s a 90% chance we’re
going out of business within six months
that was my opening line there this is
recorded there’s a 90% chance we’re
going out of business my wife is
standing in the back we’ve just been
married for three months my father’s
telling me don’t do it I said I’m
putting every single dime I’ve ever
worked for in safe into this deal 100%
of it because I’m crystal clear of the
vision of what we’re going to be doing I
don’t know what it is but this is very
crystal clear here’s what we got to do
this is what the industry needs this is
what we’re going to be doing and I cast
the division and you can cast the vision
and try to motivate but if it ain’t
clear everyone knows that this was a
very clear vision and we had some that
they don’t want to take up and I told
him I said if you don’t want to do
anything like this I fully understand it
because we’re going to have a lot of
problems the first year two years and if
you can’t handle that go with a bigger
company if you do want to go with us you
mark my word every day every night we’re
going to bust our till till this thing
becomes a reality
there’s a certain sense of vision and
clarity the bigger the businesses being
build there’s something that’s deeper
than just let’s build a business
together number two its patience you got
to have patience but not not patience
because there’s two different types of
patients that are sold to people there’s
one patients like listen be patient
everything’s going to be okay
be patient everything’s going to be okay
be patient you’re young just be patient
just be patient I don’t believe in that
here’s why my father who raised me and I
would give him credit into helping me
become a leader there’s a lot of great
men in my life that I’ve impacted me
many of them and one day I’ll do video
not tell list them
my father’s at the top of this but I’ll
list these men not in any order how they
impacted me but my father was always the
opposite
my father wasn’t saying be patient be
patient my father was you’re gonna be 65
years old tomorrow what are you doing
how many times you need to go to the
nightclub let’s go already and I kind of
leave me alone man I’m 22 years old I’m
21 years old I’ve got to live it up how
many more girls you want Pat how many
how many more girls do you need I mean
what do you need to feed your appetite
already Dan what is wrong with you right
there is that part where people into
just be patient my dad wasn’t that my
dad would say let’s go what are we
waiting for let’s go let’s go and by the
way he was like that since I was a kid
he’d wake me up in the morning with
water spray on my face let’s go wake up
and he was never in the military wake up
I’m like that I want to sleep five more
minutes oh really no problem I know what
that meant he would go bring the spray
no hesitation perps it would wake me
myself that’s abusive he taught me to be
aggressively patient there’s a big
difference between patience and
aggressively patient what’s patient then
it’s gonna be okay just relax oh it’s
gonna be I’m just gonna go home had a
bad day today because I’m going to be
patient
that’s all good man tomorrow’s another
day it’s another day it’s another day
you know how many times can you say it’s
another day till you’re 80 years old
that’s about 18,000 times I don’t know
how many days it isn’t you know however
many times eventually or 68 years of
what another day it’s another day it’s
another day another day no no it’s
another day once I come home I’m so
tired
I don’t even make it to my bed I sleep
on the floor yes you can be patient
that’s aggressively patient so now just
be patient be aggressively patient
number three
adapting and adjusting here’s why on
this list I wanted to put product I
didn’t put product under here’s why I
didn’t put product there’s a lot of
companies that don’t have the best
products in the world that are
multi-billion dollar companies that we
use regularly they don’t have the best
product how do they do it
it’s adapting it’s adjusting its seeing
what the market demands today it’s
seeing what’s needed five years from now
it’s no one as a quarterback you’re
playing all of a sudden you notice it’s
third down and three and you know they
know what they’re calling they’re going
to call a blitz and you notice the two
linebackers step up maybe corners came
in a little bit
safety backed up you look at one your
guys and you say hey I’m calling an
audible you change it up fullback comes
to the back you go to the back you go
boom this way next thing you know this
guy opens up boom he runs you throw it
you got a touch and you have to call an
audible because you caught something you
read something right you’re looking at
everything that’s moving same exact
energy you got to have if you want to
build a bigger billion dollar company or
even a hundred million dollar company
you got to have that ice set to know you
got to adapt and you got to just point
number four stick into your philosophy
stick into your philosophy listen
everyone says the greatest college
basketball coach of all time is John
Wooden it took him 29 years to win a
championship after coaching for 29 years
without winning a single thing then he
won what is it 11 he won 29 years he was
just an average coach let me say that
one more time
29 years he’s just an average coach 29
years then he’s John Wooden I was there
the night he passed away at Ronald
Reagan Hospital his pastor is a good
friend of mine Dudley brother we were
there when he passed away at the Ronald
Reagan 99 years old everybody’s coming
in to visit this guy he was he was
everyone’s father figure man people love
this guy
29 years he was just a regular coach
until he became a champion at 29 30
years of coaching then he’s considered
the greatest but for 29 years he was a
nobody why what happened he stuck to his
philosophy by the way his philosophy is
completely different than others no
cursing no he was just there is no
cursing with them he is not about the
best player type of guy he’s about the
team and give me your best I want you to
try your hustle rebound all this stuff
he had very basic principles improve
beat your progress focus on hiking and
probe I need you to play defense I need
you to hustle back I need you to do
the best screen I need you to be a good
teammate I don’t you be a good man I
need you to focus on your character
Nugent fall that was his philosophy not
the course of what do you talk man then
he got a coach like Jimmie Johnson
Dallas Cowboys and before Dallas Cowboys
he was coaching it was in Miami
Hurricanes and so he was you know what
kind of players he liked here’s who
Jimmie Johnson like he like tough guys
give me Michael Irvin troublemakers give
me crazy cursing ladies and Jimmy had a
reputation as well all they give me
those guys that’s why I want give me a
Leone let give me a Michael Irvin give
me Emmet’s me give me some crazy players
and let’s go to war against the enemy
anyone championships and it hasn’t
happened since him even though people
say well spit Serrano a champion yeah
it’s really not him it was really heaven
special was a good coach as well in
college when he had different people he
was doing what is the point
stick to your philosophy you got a
philosophy you stick to it the more you
change your philosophy in your business
and your company you’re not giving it
enough timeline to create momentum
philosophies need time to create
momentum constant change of philosophies
then you’re ruining your long-term
possibilities of having high returns on
your business number five leadership you
know you know what’s crazy you know
what’s crazy
I want you to think about this I want on
YouTube about a year ago year and a half
ago and I typed in the word leader and a
Mario and I did it again just recently
so guys look how insane this is look how
I’m saying this is go on YouTube and
type in a word leader or leadership
there is no one even cares to want to
study leadership online we did videos
and we put title leaders or how to be a
great leader on all this stuff it would
always be ah it’s just people wouldn’t
click on it because the titles not
attractive like I have whatever I don’t
know I know what it is to be a leader to
set an example no all this other stuff
listen let me tell you I did a meeting
at Oheka castle this past week we rented
the entire place it’s 150 million dollar
property gary owns it very classy man we
rented out the entire place 32 rooms and
I brought 60 people to know with their
spouses total 60 people we had dinner
food all this stuff we did and one of
the nights while we’re there I said look
there are a lot of great speakers from
stage there are a lot of people that do
very good job speaking from stage but
you don’t build big companies because of
how great
you speak from stage you build big
companies because how great you are
behind closed doors that’s how you build
a big company when you say you know what
John in my office let’s talk what’s your
problem what’s going on what’s bothering
you you’re not the same what is going on
did I do something we need to talk about
it what’s up I don’t like your behavior
man this is affecting other people I
heard you’re talking negatively about
somebody you okay I don’t remember you
being on like this path you just that’s
leadership and if you think this is just
being on a cover of a magazine and I’m
going to be cool and I’m going to be a
celebrity and my cousins and my guys
that we went to school and I’m going to
be mr. cool you forbid than a big
established company because it has
nothing to do with you it has all to do
with the team you’re building and if you
don’t know how to lead a team you’re not
going to recruit the right talent you’re
not gonna keep the right talent you’re
not gonna you know drive the right
talent you’re not going to know how to
push the people competition overcoming
enemies lawsuits champions as our
leadership negotiates our leadership
it’s all leadership so whoever you
better believe Steve Jobs was a great
leader eventually maybe solve first time
he was I still think even though he was
at that time because he was chippy he
just wanted it so bad and nobody
understood him you know it’s like a
younger Tony LaRussa for some of you
guys I follow sports
right next number six marketing and
positioning I’m going to do a video on
positioning to explain positioning
little bit more because I don’t want to
take that’s a whole episode by itself
marketing and positioning it’s a little
bit on what I talked about in the last
episode when I said biggest mistake
marketers make well who do you want to
be market yourself in position yourself
and stay there how are you going to
market yourself you know Apple was very
big on how to market themselves think
different this is who we are we are not
like everybody else but man your
computer keeps giving prompts it doesn’t
matter we’re different I’m telling you
computer gives prompts we’re different
it sucks we’re different eventually
guess what we bought we’re different and
now they’re the third I think biggest
company in America because we finally
bought the fact that Apple is simply
different they market different they
launch different they position different
their computers were three thousand
dollars you can buy thousand dollar
computer guess what they said I don’t
care don’t buy our computer
what do we do we bought their computer I
don’t care I’m not going to put
Microsoft Word and all this stuff on
here don’t buy our computer we still
about it I don’t care I’m not putting
flash in our computer we still about it
we still bought it because it’s
positioning your marketing next is
discipline 7 discipline so what’s
discipline discipline is personal
discipline personal life discipline your
financial discipline how you handle your
money discipline when you buy the bigger
items for your self discipline I
remember first thing I told my wife when
we started a company I said for five
years we’re not buying a house babe what
are you talking about said five years I
don’t even want to talk about buying a
house zero nothing
we have money we’re not buying a house
100 percent of business that took
discipline it wasn’t easy because we
could afford to buy a house but it’s
disciplined five years we said all money
into the business discipline discipline
is coming in working after big victory
you had something great happen you want
to see all man I am King Kong you got to
come in and be disciplined that’s what
this one is every day coming to work I
can’t say how many people just say well
you know I don’t come to work you my
work from home really you you you think
babe if you want to be a 4-hour workweek
all good that’s your mo all good but I
don’t know who you want to be I’m
talking to people I want to build some
companies and by the way have you ran a
bill I’ve never ran a billion-dollar
company you know I was part of a billion
dollar company but I started a company
and we took it to a hundred million and
that’s what we’ve done
valuation at around a hundred million
dollars but hey what’s the go I’m
talking to people that want to be on
this conversation here some of you guys
could be a 15 year old guy watching the
studies you know religiously all these
value came in videos seven years from
now you could build a next
billion-dollar company you you I’m
talking to you not the other guy to you
to UM who I’m talking about
that’s why I’m talking to I’m not
talking to the 4-hour workweek audience
before our work with audience there’s
plenty of YouTube guys for you I’m not
the guy for 4-hour workweek audience
when I say entrepreneurs to me
entrepreneur somebody that starts a
business with employees and there’s a
product involved that we’re selling the
product is not a book or video on
YouTube for me to make money with no
there’s a real legitimate business that
we’re running real legitimate business
that we’re running is what I’m talking
about okay alright so that was
discipline eight opportunistic you got
to be opportunistic
you know certain things will come up
what is opportunistic
look at industries that have problems
don’t be like everybody else and follow
the curve you know I got involved in an
industry that nobody wanted to touch you
know when I would tell my friends I said
hey what are you gonna be doing my
friend would say I’m starting a startup
that’s for online dating like that’s
sexy what are you doing I’m starting
gate you know online app is for
nightclub that was a very cool idea how
about that was sexy what are you doing
I’m starting an app an online app for
people’s like uber for dentist and it’s
only $99 you don’t need any health or
some company that’s like that’s a cool
idea there okay Pat so what are you
doing I’m selling the life insurance and
I’m sorry come again what are you doing
I’m selling life insurance and then all
of sudden everybody disappears see but I
love it drives people crazy doesn’t it
like even writing something Pat what do
you sell I chose to be part of the life
insurance industry here’s why the
industry needed help
nobody was wanting to revolutionize this
industry that’s been doing business as
usual for the last 40 50 years and we
have disrupted the industry and we’re
okay with that we were opportunistic we
saw an opportunity and we said we’re
going to make a difference in this
industry its benefit a lot of people you
got to figure out a way to be
opportunistic next point number 9 you
need luck there is luck involved
fully luck involved a lot of people are
you know whatever we are you know luck
all the sudden there’s luck you got to
be at the right place right time you
meet the right people you bring them on
board you recruit them they become an
executive they do well they bring an
investor that comes in introduce you to
a technology guy another guy that’s a
great coder
who build the software for eBay that
they bring on board and next you know
you create this app it speeds up
everything boom it takes you from a 50
million dollar company to a 3 billion
dollar company need some luck now all
that stuff still needs aggressively
patient you’re working but there’s luck
involved in there there’s nothing wrong
with getting lucky
and I’m going to say something here that
that may sound crazy you know when this
year ok this year this is going to be
crazy comment to make look at 2016 how
strange it is Chicago Cubs won the World
Series I mean that’s like you know ones
allow some Chicago Cubs on the world
series the last time Chicago Cubs on the
world series Alexander the Great was
alive I mean you know I mean it’s been
1,500 years I’m being sarcastic
but you get the idea you know who else
want the championship this year
Cleveland Cavaliers do you know what’s
the last time the city of Cleveland won
anything a long time ago do you know
what else happened this year a guy named
Donald Trump
it is a president what the hell is going
on in 2016
very simple you know what’s going on in
2016 this is the year of the underdog I
don’t know what’s going on up there the
gods of success or the God the man
upstairs is watching saying I’m going to
shock everybody in America this year
everyone in America is going to be kind
of shocked this year if I told you
beginning of year January 1st guess what
this year
cops are winning the World Series Cavs
are winning the championship Donald
Trump’s going to win the presidency I’d
say I’m at a million dollars I bet a
million if I win you give me a million
if I win you give me a hundred dollars
if you win I give you a million dollars
would you take that but you would take
that I would take that bet we got Trump
Cubs and caps what happened sometimes
sometimes when the gods of success want
somebody to win and there’s some magic
destiny stuff I believe that 100% I
really believe there’s people watching
down and they’re saying this person’s
been busting his or her tail without
anybody seeing it guess what he’s a
spring here’s a sprinkle of miracles
happening put the right people around
them and look what happens in all of
them everything you touch gold gold gold
gold gold gold gold man this thing is so
easy no no you have favors what you have
there’s something that’s going on in
2016 there was a strange energy in the
world so you need a little bit of luck
in business number 10 long-term thinking
you can’t just be thinking right now a
long-term billion dollar company
long-term billion dollar company million
dollar company long-term you wanna build
a 10 million dollar company long-term
you won’t make a million year long-term
you can’t just say I’m B million in six
months no you can’t imma be not saying
you cannot it does happen how about this
guy path that guy on the magazine said
he made a million dollars at six years
old because he came out with the stuff I
get it there’s exceptions Michael Jordan
jumps 49 inches I can go do calves and
quads for the rest of my life I’ll be
lucky if I can jump 24 inches I’m not
jumping 49 inches okay
but the point I’m trying to make to you
is this if you
long-term and you constantly improving
and adjusting you eventually are going
to have a shot at the big timers big
times if you do your part but number 11
lots of battle scars so you got a handle
now here’s the difference between battle
scars some will heal some are healing
some may never heal okay you need to
know that about battle scars when you go
in the ring and you decide to go at it
with some fighters they’re also pros
you’re going to have somebody’s going to
punch you boom you got a scar in that
one Hills right then you got one you get
a hit boom that one still takes a couple
weeks to heal and then sometimes you’re
going to get hit and you may broke break
a bone that forever that stays a little
bit you can heal but it’s got a little
bit of thing that changes in a world of
business you’re going to have to slay a
lot of dragons in the world of business
you’re going to have to face with some
heavyweight battles may be your only
middleweight going to a guy twice your
size you got to be good hang with them
that’s the big boy club the big girl
club this is not the friendly word did
the negotiation rooms up there or not
how are you how you doing how’s your
family how’s your wife has your husband
how’s your kids know how much money is
this going to make us
that’s the negotiation things change a
little bit you got to be able to hang in
those rooms and last but not least last
but not least and this is the confusing
one for most people here’s last but not
least it cannot be about the money crazy
huh it cannot be about the money if it’s
about the money you’ll stop at some
point if it’s about the money
if it’s simply about I’m going to build
a billion-dollar companies gonna put it
in their face you’ll stop at some point
then what then there’s emptiness what is
it about but it can’t be about the money
I mean I can’t wait to be a millionaire
and then what it’s got to be about
improving something it’s got to be about
a vision it’s gotta be about changing
something it’s got to be about
correcting an injustice it’s gotta be
wrought finding the way that’s gonna
fill a need that another person is not
doing as good as you are it can’t just
be about the money and I got two books
to recommend you right now when I saw
Dennis riding on the sand that pen was
the marker for me I got two books to
recommend you that I want you to read
one of them one of them is called as via
Andy Grove
he was the forum he was
the founder of Intel but this guy he
just passed away and I’ve recommended
this book in a couple videos in the past
before you got to read this book if you
haven’t read it’s an older book some of
the concept stories are older but you
got to read it’s called only the
paranoid survive only the paranoid the
higher you go you go higher you go you
got to be a little bit more paranoid
only the paranoid survive because when
you have success sometimes you’re so
confident then you believe in yourself
then all of a sudden you’re Mike Tyson
facing Buster Douglas and oh my gosh I
just got knocked out okay because
everybody at that level is a pro for
reason right when these you see these
best teams in the NBA they typically
lose to who you know who they lose to
the worst teams you know why because it
came in like we’re going to kill them
the Analects score 50 points a night
those guys that are the worst team
they’re still better than everybody else
who is not you know amateurs they’re the
worst professionals but there’s still
professionals you’re facing
professionals you need to be ready for
it so one is only the paranoid survive
the other one is called competition by
Michael Porter it’s about strategy and I
think it’s called strategy execution
something like that by Michael Porter
that you got to read he’s a Harvard
professor good content that he has
because you need strategy you need to be
paranoid and all them will pretty much
give you some concepts on what to do for
you to build a company that maybe one
day could be evaluated at a billion
dollar company which is kind of cool to
be a part of that but it can be about
the money then it’s let’s get our pillow
here this pillow I think that’s the last
year for this pillow right this pillow
is going to retire this year all right
here we go this pillow is going to
retire here in 2016 and will bring a new
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calm Bom haven’t done this it still
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works it’s I thought it was broken for
for a while apparently still does works
anyways thanks for watching everybody take care bye bye
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