so last week we announced a new segment
on value attainment called PBT real talk
and we’re starting you today we got
hundreds of questions and I have my
co-hosts with me
Mario Aguilar you guys to find them in
few videos before but today you’ll be
reading some of the questions that
they’ve chosen in this episode so these
are some questions we got on Twitter so
lead the way with 25 so the first stop
we got loser to lambo and he asked
Patrick how did you keep working hard on
Bayes you felt lazy loser to Lambos the
name was just a Lambo so you okay maybe
you got to change your name but I get a
loser to lament so you give me the
question one more time how did you keep
working hard on Daisy felt lazy how did
you work hard on the days you felt lazy
you know I think sometimes people get
into business thinking every they’re
going to feel like going to work I think
sometimes people get married thinking
you’re going to feel like being married
every day there are days I don’t feel
like being a parent there are days I
don’t feel like being a CEO it’s very
easy to be a CEO when you make a million
dollars in a day that’s easy to be a CEO
it’s very easy to be a parent when your
kid says from stage my daddy’s mighty
that’s very easy it’s very easy to you
know go to the gym when you’ve eaten
perfect nutrition eight eight hours of
sleep seven hours of sleep and you feel
like you had great breakfast and you’re
lit up you feel good on that when you
get your pump the people that win in
every aspect of their lives they show up
on the days that they don’t feel like in
and by the way that’s to test you that
we’re going to find out about you loser
to Lambeau what are you going to show up
on the date you feel like it or not
that’s truly your try out to the big
leagues
if you can make it on those days you’re
going to make in the big leagues good
question next one yeah we have Nico
Vargas we got a video from Nico PPD Real
Talk if I am a start-up and I’m looking
to promote a service to a large
corporation like a car dealership how
can I approach them with a small resume
compared to you know a larger
corporation type of resume like I’m
looking to do a car video for them a
marketing type of promotional 60-second
video so what’s the best way to approach
them I think that’s a very good question
Nico I would tell you one of the
first things I would do if I’m new were
competing with the bigger guys right so
no one knows who I’ll tell you how I’m
sold
a lot of times how I’m sold where people
want to get my business I’ll have a
person come up to me and they’ll say let
me try to see how I can help your social
media let me try to see how I can help
you out with the marketing side let me
try to see how I can help you with a
video we had a guy here that they that
says I want to be your twenty-four-seven
vlogger I want to follow you everywhere
for the rest of your life and want to do
this and he’s what he is from Jersey or
New York right and I said no problem
here’s what I told him I said tell me
what you can do and show me we can
produce for free so he came back within
24 hours he shot me something for free
to see exactly what his worth was then I
said I’m impressed
I had Mario get on a call with them
they’re talking now he’s flying in and
we’re gonna have him do a couple videos
for us then he’s going to fly in to do a
day of vlog with us to see how he is and
then we’ll make a decision where the
world wonnum or not but the point is
you’ve got to give your service up for
three to five to ten so if I’m doing
video and I’m you I’ll make a list of
all the dealerships locally to me you’re
out of saw whole wide so let you say
you’re in Hawaii on the Big Island
there’s not that many dealership but
there’s still four million people living
on that Island I think it’s three to
four million people so there’s got to be
dealerships I would make a list of all
the dealerships and I would go to them
and ask them if I make you this video
promo video I want to earn your business
but before I do would you be open to me
if you like my quality of business that
I create would you be open to me
continuing for we’re doing video
marketing for whatever it is yes great
what would you like to see in the video
Papapa Papapa phenomenal one would you
like to see it I’ll get at you by the
end of the week I’ll get at you by next
week excellent are you the decision
maker yes then I’ll get it to them then
once I get it to them I’d make an
incredible product because one is
communication and sales two is delivery
on product once you do that out of your
ten dealerships you go with W now we’re
going to pick you up at the number 10:31
they’re going to pick you up and then
from there
based on the work you do with the three
then you go to the other ones and see
wealth likes you then if you get two
clients three clients that are willing
to pay you three four five thousand
dollars money making 10 grand a month
and it’s literally not that hard to do
nowadays because so many dealerships
would love to get somebody who knows how
to do this
that de- retooling something
we’re going to get a lot of videos
coming in from a lot of people well I’m
sure people going to be asking questions
about that
next question Michael Karthi asks what’s
the benefit of bootstrapping versus
venture capital that’s a great question
bootstrapping versus enter account let
me give you the answer on that one okay
so for me I started the company with
100% my own financing PHP is 100% model
financing when I started a company I
state liquid for a long time when I say
liquid I was a saver obsessed with money
Adam buy a house I was living in a
community you probably came to my
apartment one time drive-bys there’s
cameras everywhere because there was you
know not the best safest community being
it was a bad part of Granada Hills and
you came one time you ran into some
interesting pictures of mine from the
past this was which was a specially one
help you move yeah yeah yeah he saw some
interest on the stuff in the closet
right I realized I did not want to start
my business by raising money and here’s
what I didn’t want to raise money at
that time one I didn’t fully need it
upfront – I was very crystal clear on
what I wanted to do with the industry
myself and three for me a lot of people
came in – Pat I’ll give you a hundred
thousand I’ll give you two hundred
thousand I give you half a million
dollars I did not need it at that time I
didn’t want to go into debt at all
whatsoever I wanted my back to be
against the wall so I would make it work
no matter what and this isn’t for
everybody a lot of people would rather
take risk with other people’s money I
wanted to go all-in for one reason let
me tell you why everybody that I asked
to go with me and work with me I gave
him I’ll never forget you a part of that
meeting with December 23rd was a
Wednesday night the night before we had
a meeting for 4 o’clock in the morning
at Lulu’s from Lou’s we came to the
office you know and I told him at the
meeting there I said there’s a 90%
chance we will be out of business within
six months yeah 90% in the back we had
just gotten married three months prior
to that and she’s looking at me like
she’s going like what are you doing I
said there’s a 90% chance we’ll be out
of business within 90 days three to six
months but I said I want you to know
what you’re getting with me okay
I’m going all in with my savings with my
credit score with
everything that I’ve sacrificed my
entire life if this doesn’t work I’m
losing everything
so I’m all-in Mike ships are all in so
if you follow me and you believe in me
know that I’m all-in I don’t have a plan
B or Plan C so that was a choice that I
had to make at that time now there are
some businesses that I’ll give you
completed for an answer and the other
business for me would be where it makes
sense to go raise money and go with a VC
and the reason for that is because of
who’s coming in and partnering up with
me so what are they going to bring in
bring to the table with me with what I’m
doing with that business somebody may
come in and say I’ll give you a half a
million dollars and I want 30% of this
company but I’m going to introduce you
to X Y Z and we can create a strategic
partnership that benefits this I’ll
entertain that so I’ve done both and I’m
here to tell you both work it just
depends on your positioning and where
you’re at good question what was the
name Mike you know Michael get our
Michael Karthi I like this so far that’s
one of the top questions I like that
Joe underscore Ethier says what’s your
opinion on the next crash when is the
perfect time to buy a property to rent
it
when is it went into someone who’s
perfect time to buy a property or when
is the perfect time to buy properties so
to rent it to rent it so he’s talking I
want to rent it for it so look anybody
who you talk to
even Buffett he’ll tell you he loves
crisis but he prepares for crisis so
they have money set aside for crisis
because when crisis happens everything’s
on sale that’s when you have an
opportunity to become wealthy I remember
one time I bought this baseball card
$100,000 baseball card from a guy that
only paid $13,000 for because he needed
money to make his two mortgage payment
so I paid him 13 grand cash he didn’t
have it it was a mortgage crisis time I
ended up flipping the card I made a lot
of money on this card but I wasn’t
desperate because I was liquid but
renting is a different story if you’re
buying a house to rent you don’t care
about a crisis you do but you don’t
necessarily care about a crisis you just
want to make sure you’re in a middle
America community that’s always going to
need renting property there’s always a
demand to rent a property and even if
they
bad thing happens like a mortgage crisis
that happen rent may need to drop off
20% that you’ll need to work with your
tenants for three four five six months
but it’s not a permanent thing so if
you’re renting if you’re renting
properties Algie buying properties or
rent them out and it’s a 10 20 30 year
play I wouldn’t be too concerned about
it about the next crash it is going to
happen we’re going to have another crash
in the next five to ten years and I hope
all of the guests are prepared for it
the last level portunity every time
there’s a major crash next question
Jesper riot Bergen I hope I said that
right says what is the most opportune
country for start-up entrepreneurs what
is the most opportune country for
start-up entrepreneurs I mean look
everybody keeps asking me to do video on
capitalism pad can you do a video on
capitalism the way you break down some
of these other things and they’ll come
out soon but it’s not going to be a ten
minute video it’s probably gonna be
another hour video that will do the way
I judge a great country is by the
product that produces what is the
product so if we for instance if we want
to judge a country based on um great
fighter pilots if you want to judge
you’re going to based on who produce the
best fighter pilots Israel is known as
having the best fighter pilots in the
world by far israel is known for that
right a lot of soldiers from us go there
to be trained there and then they come
back to America because Israel is known
for that okay now if if you want to be
known for hey what part of America
produces the best boxers for instance
what has the best training camps some
may say Vegas because fights are there
so now they’re creating camps in Vegas
what about MMA some may say Orange
County or some parts of LA what if you
say basketball some people may say you
know New York or then I say LA how about
football maybe Texas the way you judge a
great country is by white but by what
type of entrepreneurs they produce and
there’s only one country that’s
dominating the world in entrepreneurship
and that’s us so if your country you’re
listening right now is communistic and
you can’t see it to change into
capitalism anytime soon you need to find
a way to capitalist the country ASAP if
you’re socialistic
three and it’s 60 70 percent I’m talking
like France and Spain in some of those
countries that taxes are way way to I
where the motivation and the incentive
to go make money is so low you got to
find a country to go to the believes in
capitalism Germany right now is one of
the top countries in the world in
capitalism obviously u.s. u.s. is at the
top you got to study this because this
changes but you know I’ll give you a
complete different way of looking at it
Arthur Laffer once did a study at what
point does motivation go away for people
based on what amounted their money they
pay to taxes so here me up
I make $100 at what point do I lose my
motivation to work harder on the hundred
dollars that I’m paying to taxes is it
10 percent 20 percent 30 percent 4056
what is it right because some will argue
and say oh people will pay as much taxes
as possible and some would say it’s got
to be zero obviously it can’t be zero
why can’t it not be zero
we need roads we need a lot of different
programs so we need cops we need we have
to have that we need taxes to collect
with that and he came up with roughly 33
34 % meaning the moment Mario makes 100
grand a year and he pays a penny over
$34,000 per year
his motivation to work hard to get to
two hundred thousand dollars officially
starts going down so Mario makes a
hundred thousand dollars a year and he
only pays 20 percent in taxes there’s
twenty thousand dollars guess what his
motivation to produce goes higher now
Mario’s got a wife and kids and he’s got
to make sure they’re safe and all this
other stuff so the country he’s living
he’s got to make sure the countries got
security safety military cop cops
firefighters all those things solid
roads so there’s a balance but 33
percent so you got to study your country
and find out what tax rate you’re at and
then from there make a decision if you
want to be there long term or not but
good question
unexpected tuck says do you have any
good advice unexpected what unexpected
tuck but I think his name is Tucker so
don’t don’t get dirty minds unexpected
tough because that’s like a porn name
right there go ahead though he says do
you have any good advice on buying a new
car followed by what defeating the one
defeating the salesman I think that
salesmen in the room
case so do you have any good advice on
buying a new car yes I do now when when
you have money or when you don’t have
money when you have money it doesn’t
matter but you want to stay as tight as
possible when I was first coming up when
I was first coming up I told myself I am
NOT going to buy a new car until I had a
quarter million dollars in a bank
account that’s me so I drove a Ford
Focus for four years okay while I had a
quarter million in the bank once I reach
my goal I bought myself a net six
hundred and s600 I bought was the oldest
bat with the newest body oldest year for
instance if an S 500 s550 has been the
same body for five years I would buy a
2012 as 500 with low miles but it’s the
same body as today no one knows the
difference so most recent body all this
year you save yourself 50% of the car
sometimes 60% the car okay as long as
miles are low I bought my Chevy 0-6
Corvette yellow one I bought I bought an
O six with 13,000 miles on it okay and
it was a brand new Espada but I bought
it in O nine away oh nine June of June
26 is when I bought it because I thought
it was delivered on my wedding day but
about an O six it saved me a ton of
money I sold the car and once I sold the
Corvette zo6 my car payment ended up
being only $200 and when you do the math
so I kept the car for two and a half
years I put a ton of miles on it
my zero six payment Nov in two hundred
dollars a month okay now car salesman I
don’t like dealing with car salesmen
although I got to give some love to
volume and this last guy wall you we got
to give him some love while you at
mercedes-benz dealership I was very
impressed with them we bought the car
from him just because of him I was not
planning on buying a car from a car
salesman but I liked him because of him
most of the time I don’t like going to
dealership some people do I don’t like
going to dealerships my guy Barrett
delivers all my car for me Barrett I
bought cars from Barrett’s I’m probably
about ten cars from this guy he delivers
all my cars for me there’s car brokers
nowadays Dubna go she ate on your behalf
they’ll give you better rates than the
dealership and they’ll deliver it for
you and typically have two or three
brokers and price them out so one can’t
just hustle you for an additional $500
they’ll get the best deal for you but
that would be my advice to you
next question Claude Massey Massey or L
Massey says can you please get real and
go over how I should handle my fear of
cold calling to promote my business cold
call like afraid of making cold calls
yeah
cold calls well you know the thing with
cold calls is a break in the ice if you
know how to break the ice and you don’t
sound like a Salesman it’ll work but
that also works with Facebook messaging
some people try to sell by sending
messages this sounds scripted people can
tell if it’s email marketing people can
tell if it’s Twitter if it’s snapchat if
it’s so many different people can tell
nowadays the less your scripted and you
have a way to break the ice you open up
my mind to wanting to hear you out I
gotta like you and I got to be open to
wanting to hear what you have to pitch
but no matter how incredibly you’re at
breaking the ice you’ve got to know your
percentage you’re dealing with it’s very
small let me break it to you in a way
that’s simple if I want to sell a
product
Mario is my best man a my wedding okay
if I go to Mario say hey Mario
I’m new real estate let me sell your
house for you oh no prob where you’re my
boy great easy sale
ok so percentage – Mario is going to be
higher it’s not a hundred percent but
it’s higher Mario I said Mario who do
you know that wants to sell a house
Mario’s best friend in the world is Paul
the chance of me selling Paul is high
but not a ties his now I run into
Salvatore at the market and I say
Salvatore I’m a real estate agent I’d
like to sell this he sees my face I have
an opportunity to make eye contact and
see if you trust me or not enough firms
great chances a little lower than Paul
even lower than Mario cold it’s as if
you’re shooting half-court shots so this
is a basic layup that’s a free throw
he’s a 3-pointer cold as a half-court
shot so if you go to a half-court shot
and you’re just getting started you kind
of have to do that you got to do it but
just know the ratios are much lower but
what it will do to you the two years
that I did call them my skin got so
thick that I couldn’t feel anything when
people rejected me it just got so much
easier so it’s the best training you can
do a bootcamp to do to get your
to get your skin Snickers you’re not
worried about rejection next question is
from sushi annette MRD or sushi 755 1 is
it wise to share our next move or
visions with others if not why sure but
with people you trust not with everybody
and then if you’ve gone with somebody
who is strange and they know the right
people maybe keep it brief but don’t go
too deep into it nowadays everybody
wants to sign an NDA but nowadays NDS
mean nothing like they used to NCAA’s
NBA’s all that stuff is not what it used
to be but I will tell you with people
you trust and if it’s people you don’t
know start very slowly not all of a
sudden into it start like if there’s
five things you want to share where I
know everything about your vision only
give me one of them then go to second
meeting 3 4 5 once you see that you can
trust this person because they need to
know the whole thing to be able to go
and run with the idea right now we’re
dealing with an idea we’re working on
that we met with multiple mobile app
developers these are guys that develop
Skype and all these other companies when
we speak with them we start slow second
conversation little bit more third we
had one that I just didn’t feel
comfortable after the first meeting
there’s not a second meeting and by the
way that’s the part of the video that we
did what eight things you can learn from
reading books intuition intuition is
experience that takes a while to get
it’s not overnight
Kamala laughs did you deal with any
racial attacks trusting issues in
business because you’re Middle Eastern
in the USA of course I did I dealt with
that in the military when I was the only
guy from Iran and they would call me
terrorists all the time honestly it was
a joke all of it all that you’re from
Iran are you a spy look at him you know
he’s this it’s so many of those things
had to deal with in the in the military
and when I got out I dealt with that in
Germany when I lived at the refugee camp
lots of discrimination at Germany at the
refugee camp and when I got out I
experienced it in high school I
experienced it in business when I got
into the insurance and a financial
industry when 9/11 happened okay and I’m
in the financial industry and I’m going
to people something asked me where are
you from up from Iran I’m sorry we don’t
want to do business with you
and I noticed at first it was hurting me
because I believed it was the case but
eventually I real
blood is red no matter where you go this
is red I don’t give you a white black
Hispanic Asian Middle East and whatever
you want if I cut me open and cut him
open
Reds going to come up this is the color
blood unifies us and so the more real I
can be and the more I can not allow to
get to me the easier it is to do
business and I will give you one story
here I think this is a story that’s
relevant to say I had a very big big big
insurance company couple hundred billion
dollars that once questioned doing
business with me because they found that
I’m half Armenian half Assyrian and the
rumor came back to me saying they want
to drop our contract because I’m
Armenian there was some things that
happen within our minion insurance
company and they said this could happen
with Patrick wait David as well I call
the meeting immediately and I brought
the main guy I’m not going to say the
name or the position because some people
will know I brought the main guys in the
room who’s a boardroom 20 people very
uncomfortable for everybody and
everybody knows was going to bring this
up my wife did not want me to bring this
up we had a meeting i sat them down I
said let me start the meeting off by
talking about the big elephant in the
room if you’re going to judge me and do
business with me based on me being an
Armenian or me being from Iran and you
judge me based on some other bad
experiences you had from the past with
another customer I’m not going to have a
relationship with you there let me tell
you what it’s like it’s as if I’m dating
a girl and she keeps comparing me to her
ex I have no time for that if you
compare me to your ex one more time
we’re done here today in business I’m
not your ex let me cheat on you first
then call me your ex till then trust me
trust me silence
ten seconds our mores in the rules in
the 10 second silence and I’m looking at
the person and then all of a sudden they
say fair enough
I said can we make sure this doesn’t
come up again yes awesome well listen
let me tell what I’m excited about then
we went to our meeting and by the way
that person ended to become a very close
friend of mine a very big advocate of
what we do now well because I address
that upfront so I’ve had both of those
stories
99% of time it doesn’t do nothing to me
the 1% you gotta bring it up every once
in a while
Charlie Hughes asks what question should
an entrepreneur ask himself every day
did I grow my business today it’s pretty
simple I improve and did I grow my
business today that’s pretty simple
Daniel sima asks how often do you get
sued in business and what’s the best way
to deal with this getting sued is
predicated based on the industry you’re
part of real estate is big on lawsuits
pretty little industry with some
industry they’re not about lawsuits it
doesn’t happen but lawsuits are part of
the game I mean you got to understand
that it’s not a big deal to get sued any
I can sue Mario right now because I can
tell them he didn’t I don’t like the way
he looked at me I’m offended
Mario can look at me right now and go
and file a lawsuit against me because he
said I got too close to him he’s
offended lawsuits are nothing nowadays
what it does in the courtroom and how
much weight it has that’s really what
matters it’s like starting rumors
anybody can start a rumor but you have
to validate the rumor and so lawsuits
are the same way depends on the industry
a lot of people are afraid of that I
wouldn’t be to phrase like saying is
there a possibility that I will get
knocked out if I fight somebody yeah it
could happen is there a possibility of
me get into a car accident if I go in
the freeway yes but it’s you know it
depends and Jelena asks when is it
necessary or okay to turn down a client
when is it necessary to turn down a
client I’ve turned out many clients at a
client once before that wasted hundreds
of hours of my life in three months and
one night I flew back from Cancun and
he’s outside of my house smoking
cigarettes I told my wife to go in we
just landed where I got the wife kids my
wife’s pregnant I sat him down in my car
use language I probably shouldn’t have
used and the only reason I use it
because I was done with that
relationship and I said listen I don’t
need to do this ever again I live in a
gated community you found yourself in
here in a gated community or in front of
my house smoking cigarettes neighbors
you I’ve got a wife and kids not only am
i offended I am extremely annoyed with
you and upset with you right now and all
the money in the world is not as
important as you doing this to me
without being invited I’m not okay with
this that was a last day
of our relationship three weeks later
the entire relationship was terminated
and you know probably cost us a couple
hundred thousand dollars but it’s made
us tens of millions of dollars of not
wasted time invested with certain
clients now having said that there are
20 clients that don’t require that type
of an issue
it just needs better communication from
you and I this is not the case this is
so it’s not you get off it sighs that’s
what I’m going to do right now no no is
it somebody that slight you cheated
stolen from you then maybe that
conversations needed if not just just
you know better at communication dealing
with those issues last question from
hunter what keeps you awake at night and
when did you consider yourself
successful uh just improving getting
better that’s what keeps me up at night
getting better and what what I can do to
improve and increase the speed of growth
that’s what’s on my mind regularly and
when did you consider yourself a success
um I don’t I don’t know if I even think
about that a lot like I don’t know if I
sit and think about hey I’m successful
look at me I don’t I don’t have that
mindset because to me the vision is so
big on what I want to do with my life
and I’ve written it out what I want to
do the first 20 years and the second 20
years and the third 20 years what
industries and what the message and what
the cause is going to be I’m pretty
crystal if the man upstairs wants to
kick me off for that time great I’m
gonna do my best to be an incredible
representative a to to the people around
the world and a representative up his
but for me success is a game and the
time you’re really going to sit there
and says I was successful when I’m on my
deathbed well my kids are doing good
they have healthy marriages they’ve
lived good lives and I’ve done a good
job contributing and I’m ready to be
done with my life then I’m going to say
you’ve got a successful life pills Dan I
mean the moment you get your ego too big
you got a fall and you’re nobody and
that happens like this so I would much
rather not put myself in a pedestal and
just be ready for anything to happen and
then when my deathbed comes and people
want to call me successful they can till
then I got a lot of work to do
so Mari this was this was pretty good
for four steps that’s it you killed it
by the way I just prepared for it yeah
so hey a couple things for those two
guys that now you have some questions
you want to ask initially I said this is
going to be on Twitter and snapchat
we’re not going to do snapchat moving
forward let me tell you why I probably
got a thousand snaps and so I can catch
up with all the snaps and we want the
team to publicly see all the comments
and questions that you’re posting so if
you have any questions that you’re
publicly comfortable to be on the show
the Peabody Real Talk Show ask it on
twitter my handle on twitter is ask
patrick where david ask it on twitter
but everybody that send a message on
snap i will get back to you it may take
me a week to get back to you but I’ll
get back to all the people that asked a
question based on me launching this
video with the PVD we’ll talk so stay
tuned for my respond back to you and now
let’s announce who the winner was
because we’re going to now say winner
let’s see who the winner is going to be
a Salvatore we got a I am an
entrepreneur shirt that goes to the best
question asked in every episode and I
think my favorite was the guy who asked
the question about bootstrapping and
venture capital which is Michael
McCarthy Michael McCarthy good question
you get the question of the week make
sure you reach out to Mario Mario what’s
your handle put up your handle Aguilar’s
social aguilar social on Twitter Paul
let’s put his picture up Paul loves
Mario so PO try to choose a good picture
for Mario instead of some of the
pictures that you would put up you
should see some of the words Mario Paul
called Mario before shooting the video
which we will only keep it private
celebrity relations is a love and hate
relationship so again hey my car – great
question everybody else you got any
questions go on Twitter hashtag pbd Real
Talk post any question preferably and
video you’ll be featured in this episode
and if your questions are good questions
we will share them for the next episode
that’ll go out next Sunday of the PVD
real talk thank you everybody
bye bye
you [Music]
on value attainment called PBT real talk
and we’re starting you today we got
hundreds of questions and I have my
co-hosts with me
Mario Aguilar you guys to find them in
few videos before but today you’ll be
reading some of the questions that
they’ve chosen in this episode so these
are some questions we got on Twitter so
lead the way with 25 so the first stop
we got loser to lambo and he asked
Patrick how did you keep working hard on
Bayes you felt lazy loser to Lambos the
name was just a Lambo so you okay maybe
you got to change your name but I get a
loser to lament so you give me the
question one more time how did you keep
working hard on Daisy felt lazy how did
you work hard on the days you felt lazy
you know I think sometimes people get
into business thinking every they’re
going to feel like going to work I think
sometimes people get married thinking
you’re going to feel like being married
every day there are days I don’t feel
like being a parent there are days I
don’t feel like being a CEO it’s very
easy to be a CEO when you make a million
dollars in a day that’s easy to be a CEO
it’s very easy to be a parent when your
kid says from stage my daddy’s mighty
that’s very easy it’s very easy to you
know go to the gym when you’ve eaten
perfect nutrition eight eight hours of
sleep seven hours of sleep and you feel
like you had great breakfast and you’re
lit up you feel good on that when you
get your pump the people that win in
every aspect of their lives they show up
on the days that they don’t feel like in
and by the way that’s to test you that
we’re going to find out about you loser
to Lambeau what are you going to show up
on the date you feel like it or not
that’s truly your try out to the big
leagues
if you can make it on those days you’re
going to make in the big leagues good
question next one yeah we have Nico
Vargas we got a video from Nico PPD Real
Talk if I am a start-up and I’m looking
to promote a service to a large
corporation like a car dealership how
can I approach them with a small resume
compared to you know a larger
corporation type of resume like I’m
looking to do a car video for them a
marketing type of promotional 60-second
video so what’s the best way to approach
them I think that’s a very good question
Nico I would tell you one of the
first things I would do if I’m new were
competing with the bigger guys right so
no one knows who I’ll tell you how I’m
sold
a lot of times how I’m sold where people
want to get my business I’ll have a
person come up to me and they’ll say let
me try to see how I can help your social
media let me try to see how I can help
you out with the marketing side let me
try to see how I can help you with a
video we had a guy here that they that
says I want to be your twenty-four-seven
vlogger I want to follow you everywhere
for the rest of your life and want to do
this and he’s what he is from Jersey or
New York right and I said no problem
here’s what I told him I said tell me
what you can do and show me we can
produce for free so he came back within
24 hours he shot me something for free
to see exactly what his worth was then I
said I’m impressed
I had Mario get on a call with them
they’re talking now he’s flying in and
we’re gonna have him do a couple videos
for us then he’s going to fly in to do a
day of vlog with us to see how he is and
then we’ll make a decision where the
world wonnum or not but the point is
you’ve got to give your service up for
three to five to ten so if I’m doing
video and I’m you I’ll make a list of
all the dealerships locally to me you’re
out of saw whole wide so let you say
you’re in Hawaii on the Big Island
there’s not that many dealership but
there’s still four million people living
on that Island I think it’s three to
four million people so there’s got to be
dealerships I would make a list of all
the dealerships and I would go to them
and ask them if I make you this video
promo video I want to earn your business
but before I do would you be open to me
if you like my quality of business that
I create would you be open to me
continuing for we’re doing video
marketing for whatever it is yes great
what would you like to see in the video
Papapa Papapa phenomenal one would you
like to see it I’ll get at you by the
end of the week I’ll get at you by next
week excellent are you the decision
maker yes then I’ll get it to them then
once I get it to them I’d make an
incredible product because one is
communication and sales two is delivery
on product once you do that out of your
ten dealerships you go with W now we’re
going to pick you up at the number 10:31
they’re going to pick you up and then
from there
based on the work you do with the three
then you go to the other ones and see
wealth likes you then if you get two
clients three clients that are willing
to pay you three four five thousand
dollars money making 10 grand a month
and it’s literally not that hard to do
nowadays because so many dealerships
would love to get somebody who knows how
to do this
that de- retooling something
we’re going to get a lot of videos
coming in from a lot of people well I’m
sure people going to be asking questions
about that
next question Michael Karthi asks what’s
the benefit of bootstrapping versus
venture capital that’s a great question
bootstrapping versus enter account let
me give you the answer on that one okay
so for me I started the company with
100% my own financing PHP is 100% model
financing when I started a company I
state liquid for a long time when I say
liquid I was a saver obsessed with money
Adam buy a house I was living in a
community you probably came to my
apartment one time drive-bys there’s
cameras everywhere because there was you
know not the best safest community being
it was a bad part of Granada Hills and
you came one time you ran into some
interesting pictures of mine from the
past this was which was a specially one
help you move yeah yeah yeah he saw some
interest on the stuff in the closet
right I realized I did not want to start
my business by raising money and here’s
what I didn’t want to raise money at
that time one I didn’t fully need it
upfront – I was very crystal clear on
what I wanted to do with the industry
myself and three for me a lot of people
came in – Pat I’ll give you a hundred
thousand I’ll give you two hundred
thousand I give you half a million
dollars I did not need it at that time I
didn’t want to go into debt at all
whatsoever I wanted my back to be
against the wall so I would make it work
no matter what and this isn’t for
everybody a lot of people would rather
take risk with other people’s money I
wanted to go all-in for one reason let
me tell you why everybody that I asked
to go with me and work with me I gave
him I’ll never forget you a part of that
meeting with December 23rd was a
Wednesday night the night before we had
a meeting for 4 o’clock in the morning
at Lulu’s from Lou’s we came to the
office you know and I told him at the
meeting there I said there’s a 90%
chance we will be out of business within
six months yeah 90% in the back we had
just gotten married three months prior
to that and she’s looking at me like
she’s going like what are you doing I
said there’s a 90% chance we’ll be out
of business within 90 days three to six
months but I said I want you to know
what you’re getting with me okay
I’m going all in with my savings with my
credit score with
everything that I’ve sacrificed my
entire life if this doesn’t work I’m
losing everything
so I’m all-in Mike ships are all in so
if you follow me and you believe in me
know that I’m all-in I don’t have a plan
B or Plan C so that was a choice that I
had to make at that time now there are
some businesses that I’ll give you
completed for an answer and the other
business for me would be where it makes
sense to go raise money and go with a VC
and the reason for that is because of
who’s coming in and partnering up with
me so what are they going to bring in
bring to the table with me with what I’m
doing with that business somebody may
come in and say I’ll give you a half a
million dollars and I want 30% of this
company but I’m going to introduce you
to X Y Z and we can create a strategic
partnership that benefits this I’ll
entertain that so I’ve done both and I’m
here to tell you both work it just
depends on your positioning and where
you’re at good question what was the
name Mike you know Michael get our
Michael Karthi I like this so far that’s
one of the top questions I like that
Joe underscore Ethier says what’s your
opinion on the next crash when is the
perfect time to buy a property to rent
it
when is it went into someone who’s
perfect time to buy a property or when
is the perfect time to buy properties so
to rent it to rent it so he’s talking I
want to rent it for it so look anybody
who you talk to
even Buffett he’ll tell you he loves
crisis but he prepares for crisis so
they have money set aside for crisis
because when crisis happens everything’s
on sale that’s when you have an
opportunity to become wealthy I remember
one time I bought this baseball card
$100,000 baseball card from a guy that
only paid $13,000 for because he needed
money to make his two mortgage payment
so I paid him 13 grand cash he didn’t
have it it was a mortgage crisis time I
ended up flipping the card I made a lot
of money on this card but I wasn’t
desperate because I was liquid but
renting is a different story if you’re
buying a house to rent you don’t care
about a crisis you do but you don’t
necessarily care about a crisis you just
want to make sure you’re in a middle
America community that’s always going to
need renting property there’s always a
demand to rent a property and even if
they
bad thing happens like a mortgage crisis
that happen rent may need to drop off
20% that you’ll need to work with your
tenants for three four five six months
but it’s not a permanent thing so if
you’re renting if you’re renting
properties Algie buying properties or
rent them out and it’s a 10 20 30 year
play I wouldn’t be too concerned about
it about the next crash it is going to
happen we’re going to have another crash
in the next five to ten years and I hope
all of the guests are prepared for it
the last level portunity every time
there’s a major crash next question
Jesper riot Bergen I hope I said that
right says what is the most opportune
country for start-up entrepreneurs what
is the most opportune country for
start-up entrepreneurs I mean look
everybody keeps asking me to do video on
capitalism pad can you do a video on
capitalism the way you break down some
of these other things and they’ll come
out soon but it’s not going to be a ten
minute video it’s probably gonna be
another hour video that will do the way
I judge a great country is by the
product that produces what is the
product so if we for instance if we want
to judge a country based on um great
fighter pilots if you want to judge
you’re going to based on who produce the
best fighter pilots Israel is known as
having the best fighter pilots in the
world by far israel is known for that
right a lot of soldiers from us go there
to be trained there and then they come
back to America because Israel is known
for that okay now if if you want to be
known for hey what part of America
produces the best boxers for instance
what has the best training camps some
may say Vegas because fights are there
so now they’re creating camps in Vegas
what about MMA some may say Orange
County or some parts of LA what if you
say basketball some people may say you
know New York or then I say LA how about
football maybe Texas the way you judge a
great country is by white but by what
type of entrepreneurs they produce and
there’s only one country that’s
dominating the world in entrepreneurship
and that’s us so if your country you’re
listening right now is communistic and
you can’t see it to change into
capitalism anytime soon you need to find
a way to capitalist the country ASAP if
you’re socialistic
three and it’s 60 70 percent I’m talking
like France and Spain in some of those
countries that taxes are way way to I
where the motivation and the incentive
to go make money is so low you got to
find a country to go to the believes in
capitalism Germany right now is one of
the top countries in the world in
capitalism obviously u.s. u.s. is at the
top you got to study this because this
changes but you know I’ll give you a
complete different way of looking at it
Arthur Laffer once did a study at what
point does motivation go away for people
based on what amounted their money they
pay to taxes so here me up
I make $100 at what point do I lose my
motivation to work harder on the hundred
dollars that I’m paying to taxes is it
10 percent 20 percent 30 percent 4056
what is it right because some will argue
and say oh people will pay as much taxes
as possible and some would say it’s got
to be zero obviously it can’t be zero
why can’t it not be zero
we need roads we need a lot of different
programs so we need cops we need we have
to have that we need taxes to collect
with that and he came up with roughly 33
34 % meaning the moment Mario makes 100
grand a year and he pays a penny over
$34,000 per year
his motivation to work hard to get to
two hundred thousand dollars officially
starts going down so Mario makes a
hundred thousand dollars a year and he
only pays 20 percent in taxes there’s
twenty thousand dollars guess what his
motivation to produce goes higher now
Mario’s got a wife and kids and he’s got
to make sure they’re safe and all this
other stuff so the country he’s living
he’s got to make sure the countries got
security safety military cop cops
firefighters all those things solid
roads so there’s a balance but 33
percent so you got to study your country
and find out what tax rate you’re at and
then from there make a decision if you
want to be there long term or not but
good question
unexpected tuck says do you have any
good advice unexpected what unexpected
tuck but I think his name is Tucker so
don’t don’t get dirty minds unexpected
tough because that’s like a porn name
right there go ahead though he says do
you have any good advice on buying a new
car followed by what defeating the one
defeating the salesman I think that
salesmen in the room
case so do you have any good advice on
buying a new car yes I do now when when
you have money or when you don’t have
money when you have money it doesn’t
matter but you want to stay as tight as
possible when I was first coming up when
I was first coming up I told myself I am
NOT going to buy a new car until I had a
quarter million dollars in a bank
account that’s me so I drove a Ford
Focus for four years okay while I had a
quarter million in the bank once I reach
my goal I bought myself a net six
hundred and s600 I bought was the oldest
bat with the newest body oldest year for
instance if an S 500 s550 has been the
same body for five years I would buy a
2012 as 500 with low miles but it’s the
same body as today no one knows the
difference so most recent body all this
year you save yourself 50% of the car
sometimes 60% the car okay as long as
miles are low I bought my Chevy 0-6
Corvette yellow one I bought I bought an
O six with 13,000 miles on it okay and
it was a brand new Espada but I bought
it in O nine away oh nine June of June
26 is when I bought it because I thought
it was delivered on my wedding day but
about an O six it saved me a ton of
money I sold the car and once I sold the
Corvette zo6 my car payment ended up
being only $200 and when you do the math
so I kept the car for two and a half
years I put a ton of miles on it
my zero six payment Nov in two hundred
dollars a month okay now car salesman I
don’t like dealing with car salesmen
although I got to give some love to
volume and this last guy wall you we got
to give him some love while you at
mercedes-benz dealership I was very
impressed with them we bought the car
from him just because of him I was not
planning on buying a car from a car
salesman but I liked him because of him
most of the time I don’t like going to
dealership some people do I don’t like
going to dealerships my guy Barrett
delivers all my car for me Barrett I
bought cars from Barrett’s I’m probably
about ten cars from this guy he delivers
all my cars for me there’s car brokers
nowadays Dubna go she ate on your behalf
they’ll give you better rates than the
dealership and they’ll deliver it for
you and typically have two or three
brokers and price them out so one can’t
just hustle you for an additional $500
they’ll get the best deal for you but
that would be my advice to you
next question Claude Massey Massey or L
Massey says can you please get real and
go over how I should handle my fear of
cold calling to promote my business cold
call like afraid of making cold calls
yeah
cold calls well you know the thing with
cold calls is a break in the ice if you
know how to break the ice and you don’t
sound like a Salesman it’ll work but
that also works with Facebook messaging
some people try to sell by sending
messages this sounds scripted people can
tell if it’s email marketing people can
tell if it’s Twitter if it’s snapchat if
it’s so many different people can tell
nowadays the less your scripted and you
have a way to break the ice you open up
my mind to wanting to hear you out I
gotta like you and I got to be open to
wanting to hear what you have to pitch
but no matter how incredibly you’re at
breaking the ice you’ve got to know your
percentage you’re dealing with it’s very
small let me break it to you in a way
that’s simple if I want to sell a
product
Mario is my best man a my wedding okay
if I go to Mario say hey Mario
I’m new real estate let me sell your
house for you oh no prob where you’re my
boy great easy sale
ok so percentage – Mario is going to be
higher it’s not a hundred percent but
it’s higher Mario I said Mario who do
you know that wants to sell a house
Mario’s best friend in the world is Paul
the chance of me selling Paul is high
but not a ties his now I run into
Salvatore at the market and I say
Salvatore I’m a real estate agent I’d
like to sell this he sees my face I have
an opportunity to make eye contact and
see if you trust me or not enough firms
great chances a little lower than Paul
even lower than Mario cold it’s as if
you’re shooting half-court shots so this
is a basic layup that’s a free throw
he’s a 3-pointer cold as a half-court
shot so if you go to a half-court shot
and you’re just getting started you kind
of have to do that you got to do it but
just know the ratios are much lower but
what it will do to you the two years
that I did call them my skin got so
thick that I couldn’t feel anything when
people rejected me it just got so much
easier so it’s the best training you can
do a bootcamp to do to get your
to get your skin Snickers you’re not
worried about rejection next question is
from sushi annette MRD or sushi 755 1 is
it wise to share our next move or
visions with others if not why sure but
with people you trust not with everybody
and then if you’ve gone with somebody
who is strange and they know the right
people maybe keep it brief but don’t go
too deep into it nowadays everybody
wants to sign an NDA but nowadays NDS
mean nothing like they used to NCAA’s
NBA’s all that stuff is not what it used
to be but I will tell you with people
you trust and if it’s people you don’t
know start very slowly not all of a
sudden into it start like if there’s
five things you want to share where I
know everything about your vision only
give me one of them then go to second
meeting 3 4 5 once you see that you can
trust this person because they need to
know the whole thing to be able to go
and run with the idea right now we’re
dealing with an idea we’re working on
that we met with multiple mobile app
developers these are guys that develop
Skype and all these other companies when
we speak with them we start slow second
conversation little bit more third we
had one that I just didn’t feel
comfortable after the first meeting
there’s not a second meeting and by the
way that’s the part of the video that we
did what eight things you can learn from
reading books intuition intuition is
experience that takes a while to get
it’s not overnight
Kamala laughs did you deal with any
racial attacks trusting issues in
business because you’re Middle Eastern
in the USA of course I did I dealt with
that in the military when I was the only
guy from Iran and they would call me
terrorists all the time honestly it was
a joke all of it all that you’re from
Iran are you a spy look at him you know
he’s this it’s so many of those things
had to deal with in the in the military
and when I got out I dealt with that in
Germany when I lived at the refugee camp
lots of discrimination at Germany at the
refugee camp and when I got out I
experienced it in high school I
experienced it in business when I got
into the insurance and a financial
industry when 9/11 happened okay and I’m
in the financial industry and I’m going
to people something asked me where are
you from up from Iran I’m sorry we don’t
want to do business with you
and I noticed at first it was hurting me
because I believed it was the case but
eventually I real
blood is red no matter where you go this
is red I don’t give you a white black
Hispanic Asian Middle East and whatever
you want if I cut me open and cut him
open
Reds going to come up this is the color
blood unifies us and so the more real I
can be and the more I can not allow to
get to me the easier it is to do
business and I will give you one story
here I think this is a story that’s
relevant to say I had a very big big big
insurance company couple hundred billion
dollars that once questioned doing
business with me because they found that
I’m half Armenian half Assyrian and the
rumor came back to me saying they want
to drop our contract because I’m
Armenian there was some things that
happen within our minion insurance
company and they said this could happen
with Patrick wait David as well I call
the meeting immediately and I brought
the main guy I’m not going to say the
name or the position because some people
will know I brought the main guys in the
room who’s a boardroom 20 people very
uncomfortable for everybody and
everybody knows was going to bring this
up my wife did not want me to bring this
up we had a meeting i sat them down I
said let me start the meeting off by
talking about the big elephant in the
room if you’re going to judge me and do
business with me based on me being an
Armenian or me being from Iran and you
judge me based on some other bad
experiences you had from the past with
another customer I’m not going to have a
relationship with you there let me tell
you what it’s like it’s as if I’m dating
a girl and she keeps comparing me to her
ex I have no time for that if you
compare me to your ex one more time
we’re done here today in business I’m
not your ex let me cheat on you first
then call me your ex till then trust me
trust me silence
ten seconds our mores in the rules in
the 10 second silence and I’m looking at
the person and then all of a sudden they
say fair enough
I said can we make sure this doesn’t
come up again yes awesome well listen
let me tell what I’m excited about then
we went to our meeting and by the way
that person ended to become a very close
friend of mine a very big advocate of
what we do now well because I address
that upfront so I’ve had both of those
stories
99% of time it doesn’t do nothing to me
the 1% you gotta bring it up every once
in a while
Charlie Hughes asks what question should
an entrepreneur ask himself every day
did I grow my business today it’s pretty
simple I improve and did I grow my
business today that’s pretty simple
Daniel sima asks how often do you get
sued in business and what’s the best way
to deal with this getting sued is
predicated based on the industry you’re
part of real estate is big on lawsuits
pretty little industry with some
industry they’re not about lawsuits it
doesn’t happen but lawsuits are part of
the game I mean you got to understand
that it’s not a big deal to get sued any
I can sue Mario right now because I can
tell them he didn’t I don’t like the way
he looked at me I’m offended
Mario can look at me right now and go
and file a lawsuit against me because he
said I got too close to him he’s
offended lawsuits are nothing nowadays
what it does in the courtroom and how
much weight it has that’s really what
matters it’s like starting rumors
anybody can start a rumor but you have
to validate the rumor and so lawsuits
are the same way depends on the industry
a lot of people are afraid of that I
wouldn’t be to phrase like saying is
there a possibility that I will get
knocked out if I fight somebody yeah it
could happen is there a possibility of
me get into a car accident if I go in
the freeway yes but it’s you know it
depends and Jelena asks when is it
necessary or okay to turn down a client
when is it necessary to turn down a
client I’ve turned out many clients at a
client once before that wasted hundreds
of hours of my life in three months and
one night I flew back from Cancun and
he’s outside of my house smoking
cigarettes I told my wife to go in we
just landed where I got the wife kids my
wife’s pregnant I sat him down in my car
use language I probably shouldn’t have
used and the only reason I use it
because I was done with that
relationship and I said listen I don’t
need to do this ever again I live in a
gated community you found yourself in
here in a gated community or in front of
my house smoking cigarettes neighbors
you I’ve got a wife and kids not only am
i offended I am extremely annoyed with
you and upset with you right now and all
the money in the world is not as
important as you doing this to me
without being invited I’m not okay with
this that was a last day
of our relationship three weeks later
the entire relationship was terminated
and you know probably cost us a couple
hundred thousand dollars but it’s made
us tens of millions of dollars of not
wasted time invested with certain
clients now having said that there are
20 clients that don’t require that type
of an issue
it just needs better communication from
you and I this is not the case this is
so it’s not you get off it sighs that’s
what I’m going to do right now no no is
it somebody that slight you cheated
stolen from you then maybe that
conversations needed if not just just
you know better at communication dealing
with those issues last question from
hunter what keeps you awake at night and
when did you consider yourself
successful uh just improving getting
better that’s what keeps me up at night
getting better and what what I can do to
improve and increase the speed of growth
that’s what’s on my mind regularly and
when did you consider yourself a success
um I don’t I don’t know if I even think
about that a lot like I don’t know if I
sit and think about hey I’m successful
look at me I don’t I don’t have that
mindset because to me the vision is so
big on what I want to do with my life
and I’ve written it out what I want to
do the first 20 years and the second 20
years and the third 20 years what
industries and what the message and what
the cause is going to be I’m pretty
crystal if the man upstairs wants to
kick me off for that time great I’m
gonna do my best to be an incredible
representative a to to the people around
the world and a representative up his
but for me success is a game and the
time you’re really going to sit there
and says I was successful when I’m on my
deathbed well my kids are doing good
they have healthy marriages they’ve
lived good lives and I’ve done a good
job contributing and I’m ready to be
done with my life then I’m going to say
you’ve got a successful life pills Dan I
mean the moment you get your ego too big
you got a fall and you’re nobody and
that happens like this so I would much
rather not put myself in a pedestal and
just be ready for anything to happen and
then when my deathbed comes and people
want to call me successful they can till
then I got a lot of work to do
so Mari this was this was pretty good
for four steps that’s it you killed it
by the way I just prepared for it yeah
so hey a couple things for those two
guys that now you have some questions
you want to ask initially I said this is
going to be on Twitter and snapchat
we’re not going to do snapchat moving
forward let me tell you why I probably
got a thousand snaps and so I can catch
up with all the snaps and we want the
team to publicly see all the comments
and questions that you’re posting so if
you have any questions that you’re
publicly comfortable to be on the show
the Peabody Real Talk Show ask it on
twitter my handle on twitter is ask
patrick where david ask it on twitter
but everybody that send a message on
snap i will get back to you it may take
me a week to get back to you but I’ll
get back to all the people that asked a
question based on me launching this
video with the PVD we’ll talk so stay
tuned for my respond back to you and now
let’s announce who the winner was
because we’re going to now say winner
let’s see who the winner is going to be
a Salvatore we got a I am an
entrepreneur shirt that goes to the best
question asked in every episode and I
think my favorite was the guy who asked
the question about bootstrapping and
venture capital which is Michael
McCarthy Michael McCarthy good question
you get the question of the week make
sure you reach out to Mario Mario what’s
your handle put up your handle Aguilar’s
social aguilar social on Twitter Paul
let’s put his picture up Paul loves
Mario so PO try to choose a good picture
for Mario instead of some of the
pictures that you would put up you
should see some of the words Mario Paul
called Mario before shooting the video
which we will only keep it private
celebrity relations is a love and hate
relationship so again hey my car – great
question everybody else you got any
questions go on Twitter hashtag pbd Real
Talk post any question preferably and
video you’ll be featured in this episode
and if your questions are good questions
we will share them for the next episode
that’ll go out next Sunday of the PVD
real talk thank you everybody
bye bye
you [Music]
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