so recently I shot a video called ten
things to do before you become an
entrepreneur and one of the points was
learning how to research because in the
world of business there’s a lot of
research you’re going to have to be
here’s why because the better you are at
gaining the information to make a sound
decision minimizes risk increases return
which is exactly what you want as a
business owner because it gives you a
longer span to be in business so today
I’m gonna explain to you how I research
I’ve been researching for very long time
and eventually even get better at this
game but it’s very very important by the
way there’s three different reasons why
people typically will do research one of
them will be for pure fun and
entertainment for instance we’re at a
restaurant last night in Miami it’s
10:30 at night
all of a sudden conversation comes up
about the greatest basketball player of
all time think no one’s going to make
money off this that’s for entertainment
that’s just for talk the second research
we do is for self education I want to
know more because I want to be educated
for me this is not let me express my
point why I believe Tom Brady is the
greatest not Joe Montana or whatever
that debated self education I’m just
going to for myself number three reason
why you and I will do research is we
want to make a better decision marriage
business whatever it is finances we want
to make a better decision so know which
levels of research there is out there
having said that let me get into Hawaii
a process of my own way of research and
think number one choose the topic what’s
the topic marriage buy real estate or
rent a home uh you know politics sports
whatever it is move when we wanted to
move to Texas that’s our topic we want
to move to Texas why do we want to move
to Texas so that’s that’s the topic step
number two what are you solving for what
are you solving for for instance I’ll
give you an idea what I mean by this
let’s just say you are thinking about
real estate well what are you solving
for are you solving two for income you
want to have a long term income so you
want to buy properties you have a lot of
income for twenty thirty years from now
because you want all these you know
properties is it for flip because you
want to buy and sell and make shirts or
money is it equity is it partnership is
it to go into business with somebody
because you want to figure out a way to
do other
business with them long-term what are
you solving for so that’s the first
question you got to ask yourself on that
what are you solving for for sports this
is for kicks
let’s just say let’s figure out who’s
the greatest basketball player of all
time
what are we solving for it who has the
longest lifespan that I can bring him in
and he can be a face of my team for 20
years is it a person that I can count on
last minute to take the shot who’s got
the killer instinct is that the guy that
knows how to mess with the other guy’s
head to make them lose and this guy beat
them is it a guy that can go out there
and dominate a game and win it no matter
what it is and have a great season or
stats what are we solving for right so
and then becomes relationships are you
solving because you want to marry this
girl you saw them because you want to
date this girl you’re solving because
what do you want to do so you’re
figuring out what you’re solving for
number three number three years go get
as much data and stats as you can
possibly get I had a guy that was afraid
of getting married I said why are you
afraid of getting married says everybody
gets a divorce around me go get the data
what causes it why does this happen get
the stats get some data last night the
whole thing about the greatest of all
time so you step number one what are we
what’s the topic NBA’s greatest player
of all time number two what are we
solving for what player had the
longevity that performed won
championships etc etc here’s stats last
night typically people talk about
Michael Jordan and LeBron James right
now the debates coming up and used to be
Kobe it’s no longer Kobe but last night
I pulled up criminal go Jabbar this guy
was on 19th season all-star he shot free
throws 72 percent as a guy that big 72%
free throw his last nine seasons
listen to the stat his last nine seasons
not one season that he played less than
70 games which means he never got hurt
this guy averaged 16 17 rebounds in his
first five six years career I think the
11.9 teen point average he was 26 27
career six MVP six championships I mean
all these stats that comes up with that
so I’m gaining the stats right real
estate if I’m wanting to buy let me get
the stats on I want to buy a house in
Austin I want to buy commercial real
estate in Austin what is my returns
between Houston and Austin
what is the stats here what does the
trends look like what is the projectory
look like who’s moving to the city which
cities attracting more companies which
cities attract them or headquarters
which city has the middle America
families just earlier today a grant and
I were talking grant has nearly grant
cardone and I were talking I’m in Miami
visiting him he’s got a half a million
dollars of real estate holdings and he
said he’s going to Houston to go out
there and invest in some properties I
said what are you solving for middle
America says yes my clientele is $1200
month rent he’s very specific on who
he’s looking for he’s solving for $1,200
so he’s averaging out in this area
middle America makes $55,000 I want to
go into that market because these guys
don’t buy they’re going to rent passive
income for me etc etc right so you’re
going to get as much stats as possible
then next once you get the stats is I
like to go and hear opposing views and
let me tell what I mean by opposing
views what’s opposing views let’s go
through the entertainment part somebody
who’s an absolute MJ fan and cannot
stand LeBron somebody was an absolute
LeBron fan can’t that MJ and someone as
a Korean fan magic Bank Kobe fan I want
to hear their different views on what
they’re saying these are opinions
opinions I want to hear a guy that
absolutely doesn’t believe in real
estate investments doesn’t believe
anything’s you should rent I want to
hear is views why I want to hear this
guy that says you’re the biggest dummy
if you don’t go out there invest into
property tell me why if it’s politics I
don’t like some people only watch CNN
some people only watch Fox some people
only watch MSNBC some people don’t watch
anything
some people don’t follow any of politics
but let’s just say I want to figure out
a better way to see an issue I’ll turn
on one channel we’ll say Donald Trump
just made a historic you know move when
you went on his tour and he met no
president in history and then I’ll go on
the other channel CNN will say this is
by far the first time a president has
made such a terrible decision to put the
country at risk
I want to hear both right so I want to
hear opposing views marriage I want to
talk to somebody who believes in
marriage I want to talk to somebody that
doesn’t believe in marriage faith I want
to talk to somebody that’s a Christian
and atheist of science that’s what I did
in back in 2002 2003 I would
every single religion and I went to
Scientology all day I’m there for 12
hours asking questions I went to Jehovah
I went to LDS Mormonism I went to
Judaism Muslim Christianity I went to
everything because I wanted to know so I
wanted opposing views on what this
person thinks about this person what
that person thinks about this and I
wanted to the experts and keep in mind
back in the days one thing about getting
stats I want to add up on add on that I
didn’t talk about back in the days you
know nobody could come and say an
unknown source told us that President
Obama was the person who leaked you
couldn’t say unknown you had to have a
confirmed person that said something
nowadays the media can use unknown for
every single thing so I can literally do
a video right now and tell you an
unknown source told me that Magic
Johnson is running for president in 2020
I can say that and I cannot get in
trouble for it and no one’s going to say
hey it’s alright and under who who must
be the unknown source I don’t have to
give that to you back in the days you
have to when you are doing research in
your hearing views I don’t pay attention
to the unknown I want to know who knows
I want to know it’s a credible source I
want to know who the name is of the
person that believes them what is their
credibility in a marketplace what do
they think about this I want to know
that and by the way on both sides I
remember being in California was invited
to this very very very wealthy three
point nine billion dollar man’s house it
was in Malibu and I went there there was
a fascinating night because here was the
Democratic presidential campaign manager
for Clinton Bill Clinton and here was
the Republican a presidential campaign
manager for Bush both of them won Bush
jr. you know GW and Bill Clinton and
they were going at it right I mean that
hour and a half for me was I’m just
listening to these guys going at it
because both of them have credibility
both of them helped somebody become a
president both of them going to talk a
lot of to each other both of them
I’m going to say what’s wrong with this
person what’s wrong with that person he
just kind of watch this battle got it
right you learn more
then you do just somebody without any
credibility because this guy’s holding
the other guy accountable number five
number five once I do my research on
whatever it is we want to move to Texas
I’ll go through it with you right now
topic moving to Texas instead of
California number two what are we
solving for a good place for
headquarters Texas has the most fortune
500 headquarters in America tied with
New York California’s number three but
it’s dropping off because more
headquarters are leaving okay so better
headquarters state taxes Texas has no
taxes California has got thirteen point
three nine point three – thirteen point
three Texas zero state taxes what else
are we solving for lifestyle for my
employees that are working there will be
better because they can save more money
I can pay them more what else I’ll be
solving for my family good community I’m
a capitalist I’m an entrepreneur this is
a good area why don’t we do this that
was number two right then I’ll go and
get the facts let’s get the facts
thirteen point three taxes that does all
these stats how many people are for
every two for every one person from
Texas that moves to California two
people from California are moving to
Texas according to Time magazine so why
is this happening according to these
stats you know Texas offers more this
California offers more this then I got
the stat once you get the stats then I
hear opposing views I want to hear what
people from Texas are saying about
California I want to know what people
from California are saying about Texas
specifically with Governor Perry who was
the governor of Texas and I want to hear
what Governor Brown is Governor of
California is saying about Texas I want
to know both views then from there step
number five is you go to somebody to
people close to you that you value their
opinion and you present them your
research and you let them come back and
say well I don’t know about this Pat
because the one thing you’re not looking
at it’s not that that’s at that she’s
right that makes sense oh I think I
agree with you Pat because look John
what you’re saying over this because one
of the things that I don’t agree with
you that I agree with Pat is the fact
that this but Pat the one thing I don’t
think you’re looking at is the long-term
effects of this decision that you’re
making because if the money can be put
in another place then once you have that
that’s step number five number six is
come up with your own conclusion on what
you believe
best decision is going to be made and
what you believe your best opinion will
be on a move to Texas on marriage or
staying single on buying or renting on
being a capitalist a socialist or
communist or Republican or Democrat on
being an atheist or a Christian or you
know whatever it is that you want to be
there on LeBron on Jordan on Kobe or
Kareem then you make that decision and
face the worst-case best-case what’s the
worst-case best-case best-case I believe
this is the decision that I need to
start buying properties because I’m
going to have some income going
long-term worst case it completely flops
because the market tanked and I lose my
income and I didn’t make the best
decision for myself ok can you handle
the word case worst case yes then go
best case I think MJ is the greatest
basketball player of all time worst case
LeBron wins three more championships
then people say he’s got six and he’s
been in the championship two different
teams four times no one’s ever done that
before he’s got all these stats he’s
daddy maybe this is the way Jordan got
kicked out of you know a first round
three times LeBrons never gone kicked
out of first round that’s a pretty
strong argument right there right I’m an
MJ guy I’m a Kobe guy so this is what I
believe in
I’m comfortable with this and then you
go take a stand for whatever you believe
in whatever you don’t based on your
research knowing that you’re still going
to have opposition based on what every
decision you’re making but it makes
sense to you and by the way what I just
told you some of you guys may say Pat
this makes no sense with career or
business I mean you talk to sports and
all this other stuff go career in 1999
I’m working at Bally Total Fitness I
knew that the way to go was to learn
sales then I knew I had to learn how to
manage salespeople then I knew I had to
be an entrepreneur and an and knew had
to learn how to treat my business as a
CEO because if I don’t I’m gonna flop I
knew that so once I knew I was going to
be in sales then I had to ask myself
what industry so if I wanted to find out
the industry what am i solving for I
wanted an industry I talked about a
couple last night Paul and I we were at
st. Regis here in Bal Harbour Miami
we’re staying at a 12 million dollar
penthouse here view of the Miami Beach
arriving a good time
and we’re here for a couple different
business meetings but last night I’m
telling this guy were talking and one of
the things I was telling him what was I
just talking about right now Paul I was
talking about I was talking to a couple
but the point I was making is what point
was I making yeah industry so I was
talking to the guy and I said for me
what am i solving for within industry so
99 I wanted an industry where I could
have a life and I can go do whatever I
wanted my life and have my kids here and
my kids can come to the business and I
want to have a good family I want to be
able to do those things I want to be
very wealthy I want to have money I want
an income that’s going to pay me for the
rest of my life I want freedom I want
control I don’t want to constantly be
selling a house on Sunday so I
eliminated real estate and then I went
through a process of elimination I got a
ton of research I did on the stock
market why people were getting serious
7th in 1990s why people were getting
serious 6 and 63 and 80s why people were
getting insurance licenses in the 70s
why people got the real estate license
in 2000 why people look I wanted to find
out all these stats I wanted to find out
what the real estate trajectory look
like every decade and why is it that for
every two decades real estate does bad
then we have one great decade then – you
go back in the last ten decades you’ll
see that trend which too bad one grade
too bad one grade too bad one grade and
we just had a great decade in the 2000s
that means we may have two more bad
decades in 2010 in 2020 and 2030 becomes
an explosive decade and really I just
started doing these research to get the
numbers and I made a decision to go into
this so the system I’m covering with you
the six steps choose a topic number two
what are you solving for number three
get stats from credible sources get
stats from credible sources number four
here opposing opinions on what people
are saying number five go to two other
people that you respect that have
credibility with you and present them
your research and number six come up
with your own conclusion on what you
believe in and be prepared to know the
worst case and the best case of you
moving
with the decision that you have made and
see how that works out for you that is
the process I’ve used all these years
for research some people may say what
sources do you use Internet Google all
this other stuff I mean again that’s the
credible sources when I hire people I
look at their social media I look at
their LinkedIn I look at their Facebook
the higher the level is the more
research I’m trying to do we’re calling
references we do a background check
because I want my odds in my favor I
have two other people that interview
with them before we make a decision to
bring them on board we ask specific
questions that I may bring another
person may bring we may give them a
challenge before we hire them because
that process has worked for us if you
got also learned how to research on
people but every single thing you do if
the the importance of the decision is
high requires more research
if the importance of the decision is low
requires less research to make that
decision so I hope today you kind of got
a chance to get into my mind and see how
I process issues when we researching the
topic and hopefully these six steps can
help you as well when it comes down to
doing research on anything in your life
business or personal life and so if you
have any questions about today’s episode
make sure to comment on the bottom if
you haven’t watched a video that I did
called 10 things you need to do before
you become an entrepreneur Paul why
don’t we put the thumbnail of it so do
you know what it looks like the link
will be on the bottom as well I highly
recommend you going and watching that
video so you understand what gave birth
to today’s videos so if you have any
questions thoughts comment on the bottom
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one the first to receive the videos once
the videos are uploaded on Val you can
take everybody’s go bike you
things to do before you become an
entrepreneur and one of the points was
learning how to research because in the
world of business there’s a lot of
research you’re going to have to be
here’s why because the better you are at
gaining the information to make a sound
decision minimizes risk increases return
which is exactly what you want as a
business owner because it gives you a
longer span to be in business so today
I’m gonna explain to you how I research
I’ve been researching for very long time
and eventually even get better at this
game but it’s very very important by the
way there’s three different reasons why
people typically will do research one of
them will be for pure fun and
entertainment for instance we’re at a
restaurant last night in Miami it’s
10:30 at night
all of a sudden conversation comes up
about the greatest basketball player of
all time think no one’s going to make
money off this that’s for entertainment
that’s just for talk the second research
we do is for self education I want to
know more because I want to be educated
for me this is not let me express my
point why I believe Tom Brady is the
greatest not Joe Montana or whatever
that debated self education I’m just
going to for myself number three reason
why you and I will do research is we
want to make a better decision marriage
business whatever it is finances we want
to make a better decision so know which
levels of research there is out there
having said that let me get into Hawaii
a process of my own way of research and
think number one choose the topic what’s
the topic marriage buy real estate or
rent a home uh you know politics sports
whatever it is move when we wanted to
move to Texas that’s our topic we want
to move to Texas why do we want to move
to Texas so that’s that’s the topic step
number two what are you solving for what
are you solving for for instance I’ll
give you an idea what I mean by this
let’s just say you are thinking about
real estate well what are you solving
for are you solving two for income you
want to have a long term income so you
want to buy properties you have a lot of
income for twenty thirty years from now
because you want all these you know
properties is it for flip because you
want to buy and sell and make shirts or
money is it equity is it partnership is
it to go into business with somebody
because you want to figure out a way to
do other
business with them long-term what are
you solving for so that’s the first
question you got to ask yourself on that
what are you solving for for sports this
is for kicks
let’s just say let’s figure out who’s
the greatest basketball player of all
time
what are we solving for it who has the
longest lifespan that I can bring him in
and he can be a face of my team for 20
years is it a person that I can count on
last minute to take the shot who’s got
the killer instinct is that the guy that
knows how to mess with the other guy’s
head to make them lose and this guy beat
them is it a guy that can go out there
and dominate a game and win it no matter
what it is and have a great season or
stats what are we solving for right so
and then becomes relationships are you
solving because you want to marry this
girl you saw them because you want to
date this girl you’re solving because
what do you want to do so you’re
figuring out what you’re solving for
number three number three years go get
as much data and stats as you can
possibly get I had a guy that was afraid
of getting married I said why are you
afraid of getting married says everybody
gets a divorce around me go get the data
what causes it why does this happen get
the stats get some data last night the
whole thing about the greatest of all
time so you step number one what are we
what’s the topic NBA’s greatest player
of all time number two what are we
solving for what player had the
longevity that performed won
championships etc etc here’s stats last
night typically people talk about
Michael Jordan and LeBron James right
now the debates coming up and used to be
Kobe it’s no longer Kobe but last night
I pulled up criminal go Jabbar this guy
was on 19th season all-star he shot free
throws 72 percent as a guy that big 72%
free throw his last nine seasons
listen to the stat his last nine seasons
not one season that he played less than
70 games which means he never got hurt
this guy averaged 16 17 rebounds in his
first five six years career I think the
11.9 teen point average he was 26 27
career six MVP six championships I mean
all these stats that comes up with that
so I’m gaining the stats right real
estate if I’m wanting to buy let me get
the stats on I want to buy a house in
Austin I want to buy commercial real
estate in Austin what is my returns
between Houston and Austin
what is the stats here what does the
trends look like what is the projectory
look like who’s moving to the city which
cities attracting more companies which
cities attract them or headquarters
which city has the middle America
families just earlier today a grant and
I were talking grant has nearly grant
cardone and I were talking I’m in Miami
visiting him he’s got a half a million
dollars of real estate holdings and he
said he’s going to Houston to go out
there and invest in some properties I
said what are you solving for middle
America says yes my clientele is $1200
month rent he’s very specific on who
he’s looking for he’s solving for $1,200
so he’s averaging out in this area
middle America makes $55,000 I want to
go into that market because these guys
don’t buy they’re going to rent passive
income for me etc etc right so you’re
going to get as much stats as possible
then next once you get the stats is I
like to go and hear opposing views and
let me tell what I mean by opposing
views what’s opposing views let’s go
through the entertainment part somebody
who’s an absolute MJ fan and cannot
stand LeBron somebody was an absolute
LeBron fan can’t that MJ and someone as
a Korean fan magic Bank Kobe fan I want
to hear their different views on what
they’re saying these are opinions
opinions I want to hear a guy that
absolutely doesn’t believe in real
estate investments doesn’t believe
anything’s you should rent I want to
hear is views why I want to hear this
guy that says you’re the biggest dummy
if you don’t go out there invest into
property tell me why if it’s politics I
don’t like some people only watch CNN
some people only watch Fox some people
only watch MSNBC some people don’t watch
anything
some people don’t follow any of politics
but let’s just say I want to figure out
a better way to see an issue I’ll turn
on one channel we’ll say Donald Trump
just made a historic you know move when
you went on his tour and he met no
president in history and then I’ll go on
the other channel CNN will say this is
by far the first time a president has
made such a terrible decision to put the
country at risk
I want to hear both right so I want to
hear opposing views marriage I want to
talk to somebody who believes in
marriage I want to talk to somebody that
doesn’t believe in marriage faith I want
to talk to somebody that’s a Christian
and atheist of science that’s what I did
in back in 2002 2003 I would
every single religion and I went to
Scientology all day I’m there for 12
hours asking questions I went to Jehovah
I went to LDS Mormonism I went to
Judaism Muslim Christianity I went to
everything because I wanted to know so I
wanted opposing views on what this
person thinks about this person what
that person thinks about this and I
wanted to the experts and keep in mind
back in the days one thing about getting
stats I want to add up on add on that I
didn’t talk about back in the days you
know nobody could come and say an
unknown source told us that President
Obama was the person who leaked you
couldn’t say unknown you had to have a
confirmed person that said something
nowadays the media can use unknown for
every single thing so I can literally do
a video right now and tell you an
unknown source told me that Magic
Johnson is running for president in 2020
I can say that and I cannot get in
trouble for it and no one’s going to say
hey it’s alright and under who who must
be the unknown source I don’t have to
give that to you back in the days you
have to when you are doing research in
your hearing views I don’t pay attention
to the unknown I want to know who knows
I want to know it’s a credible source I
want to know who the name is of the
person that believes them what is their
credibility in a marketplace what do
they think about this I want to know
that and by the way on both sides I
remember being in California was invited
to this very very very wealthy three
point nine billion dollar man’s house it
was in Malibu and I went there there was
a fascinating night because here was the
Democratic presidential campaign manager
for Clinton Bill Clinton and here was
the Republican a presidential campaign
manager for Bush both of them won Bush
jr. you know GW and Bill Clinton and
they were going at it right I mean that
hour and a half for me was I’m just
listening to these guys going at it
because both of them have credibility
both of them helped somebody become a
president both of them going to talk a
lot of to each other both of them
I’m going to say what’s wrong with this
person what’s wrong with that person he
just kind of watch this battle got it
right you learn more
then you do just somebody without any
credibility because this guy’s holding
the other guy accountable number five
number five once I do my research on
whatever it is we want to move to Texas
I’ll go through it with you right now
topic moving to Texas instead of
California number two what are we
solving for a good place for
headquarters Texas has the most fortune
500 headquarters in America tied with
New York California’s number three but
it’s dropping off because more
headquarters are leaving okay so better
headquarters state taxes Texas has no
taxes California has got thirteen point
three nine point three – thirteen point
three Texas zero state taxes what else
are we solving for lifestyle for my
employees that are working there will be
better because they can save more money
I can pay them more what else I’ll be
solving for my family good community I’m
a capitalist I’m an entrepreneur this is
a good area why don’t we do this that
was number two right then I’ll go and
get the facts let’s get the facts
thirteen point three taxes that does all
these stats how many people are for
every two for every one person from
Texas that moves to California two
people from California are moving to
Texas according to Time magazine so why
is this happening according to these
stats you know Texas offers more this
California offers more this then I got
the stat once you get the stats then I
hear opposing views I want to hear what
people from Texas are saying about
California I want to know what people
from California are saying about Texas
specifically with Governor Perry who was
the governor of Texas and I want to hear
what Governor Brown is Governor of
California is saying about Texas I want
to know both views then from there step
number five is you go to somebody to
people close to you that you value their
opinion and you present them your
research and you let them come back and
say well I don’t know about this Pat
because the one thing you’re not looking
at it’s not that that’s at that she’s
right that makes sense oh I think I
agree with you Pat because look John
what you’re saying over this because one
of the things that I don’t agree with
you that I agree with Pat is the fact
that this but Pat the one thing I don’t
think you’re looking at is the long-term
effects of this decision that you’re
making because if the money can be put
in another place then once you have that
that’s step number five number six is
come up with your own conclusion on what
you believe
best decision is going to be made and
what you believe your best opinion will
be on a move to Texas on marriage or
staying single on buying or renting on
being a capitalist a socialist or
communist or Republican or Democrat on
being an atheist or a Christian or you
know whatever it is that you want to be
there on LeBron on Jordan on Kobe or
Kareem then you make that decision and
face the worst-case best-case what’s the
worst-case best-case best-case I believe
this is the decision that I need to
start buying properties because I’m
going to have some income going
long-term worst case it completely flops
because the market tanked and I lose my
income and I didn’t make the best
decision for myself ok can you handle
the word case worst case yes then go
best case I think MJ is the greatest
basketball player of all time worst case
LeBron wins three more championships
then people say he’s got six and he’s
been in the championship two different
teams four times no one’s ever done that
before he’s got all these stats he’s
daddy maybe this is the way Jordan got
kicked out of you know a first round
three times LeBrons never gone kicked
out of first round that’s a pretty
strong argument right there right I’m an
MJ guy I’m a Kobe guy so this is what I
believe in
I’m comfortable with this and then you
go take a stand for whatever you believe
in whatever you don’t based on your
research knowing that you’re still going
to have opposition based on what every
decision you’re making but it makes
sense to you and by the way what I just
told you some of you guys may say Pat
this makes no sense with career or
business I mean you talk to sports and
all this other stuff go career in 1999
I’m working at Bally Total Fitness I
knew that the way to go was to learn
sales then I knew I had to learn how to
manage salespeople then I knew I had to
be an entrepreneur and an and knew had
to learn how to treat my business as a
CEO because if I don’t I’m gonna flop I
knew that so once I knew I was going to
be in sales then I had to ask myself
what industry so if I wanted to find out
the industry what am i solving for I
wanted an industry I talked about a
couple last night Paul and I we were at
st. Regis here in Bal Harbour Miami
we’re staying at a 12 million dollar
penthouse here view of the Miami Beach
arriving a good time
and we’re here for a couple different
business meetings but last night I’m
telling this guy were talking and one of
the things I was telling him what was I
just talking about right now Paul I was
talking about I was talking to a couple
but the point I was making is what point
was I making yeah industry so I was
talking to the guy and I said for me
what am i solving for within industry so
99 I wanted an industry where I could
have a life and I can go do whatever I
wanted my life and have my kids here and
my kids can come to the business and I
want to have a good family I want to be
able to do those things I want to be
very wealthy I want to have money I want
an income that’s going to pay me for the
rest of my life I want freedom I want
control I don’t want to constantly be
selling a house on Sunday so I
eliminated real estate and then I went
through a process of elimination I got a
ton of research I did on the stock
market why people were getting serious
7th in 1990s why people were getting
serious 6 and 63 and 80s why people were
getting insurance licenses in the 70s
why people got the real estate license
in 2000 why people look I wanted to find
out all these stats I wanted to find out
what the real estate trajectory look
like every decade and why is it that for
every two decades real estate does bad
then we have one great decade then – you
go back in the last ten decades you’ll
see that trend which too bad one grade
too bad one grade too bad one grade and
we just had a great decade in the 2000s
that means we may have two more bad
decades in 2010 in 2020 and 2030 becomes
an explosive decade and really I just
started doing these research to get the
numbers and I made a decision to go into
this so the system I’m covering with you
the six steps choose a topic number two
what are you solving for number three
get stats from credible sources get
stats from credible sources number four
here opposing opinions on what people
are saying number five go to two other
people that you respect that have
credibility with you and present them
your research and number six come up
with your own conclusion on what you
believe in and be prepared to know the
worst case and the best case of you
moving
with the decision that you have made and
see how that works out for you that is
the process I’ve used all these years
for research some people may say what
sources do you use Internet Google all
this other stuff I mean again that’s the
credible sources when I hire people I
look at their social media I look at
their LinkedIn I look at their Facebook
the higher the level is the more
research I’m trying to do we’re calling
references we do a background check
because I want my odds in my favor I
have two other people that interview
with them before we make a decision to
bring them on board we ask specific
questions that I may bring another
person may bring we may give them a
challenge before we hire them because
that process has worked for us if you
got also learned how to research on
people but every single thing you do if
the the importance of the decision is
high requires more research
if the importance of the decision is low
requires less research to make that
decision so I hope today you kind of got
a chance to get into my mind and see how
I process issues when we researching the
topic and hopefully these six steps can
help you as well when it comes down to
doing research on anything in your life
business or personal life and so if you
have any questions about today’s episode
make sure to comment on the bottom if
you haven’t watched a video that I did
called 10 things you need to do before
you become an entrepreneur Paul why
don’t we put the thumbnail of it so do
you know what it looks like the link
will be on the bottom as well I highly
recommend you going and watching that
video so you understand what gave birth
to today’s videos so if you have any
questions thoughts comment on the bottom
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