you have to go out and find people who
are successful financially and reverse
engineer what they did reverse engineer
REI keep that little acronym in my head
it’s one of the most powerful acronyms
that you can remember are e reverse
engineer so for example when I was
starting out I was like what would it
take to become a millionaire and I go
alright
win the lottery a lot of people play the
lottery and then some people one or two
become millionaires but if you reverse
engineer I asked myself this one day I
started study what makes the most
millionaires what’s made the most
millionaires and the United States
self-made not people who inherited their
money and the answer is tada real estate
now you don’t even have to be trying to
make a million dollars every time a
millionaire but just think about that
reverse engineer that and put it into
your life it’s not just about a career
but it’s about also passive income
because your careers active income you
work on your career you go to your job
even if you’re an entrepreneur right but
what about when you’re asleep here’s a
crazy statistic if you just listen to
this person if you make what’s minimum
wage let’s say let’s just say 15 bucks
an hour that’s $30,000 a year right but
what happens if you make $15 an hour
24/7 okay now that’s $90,000 a year
triple it but you can’t work 24 hours a
day so that means you’d have to have
this thing called passive income and
passive income means I locked myself in
my own living room here well god this
way I was filming over here so what I
started doing is going I gotta have my
active income job career
entrepreneurship but I want to reverse
engineer the passive income that the
most millionaires have ever the most
what has created the most millionaires
this test called the dark triad test
which again anything important like this
nobody ever learned it in school because
schools are too stupid to take real
powerful science and apply it to life
but the dark triad is a worldview
barometer for everybody watching you can
take it there’s a different free dark
triad tests online it tests for three
main traits negative qualities
narcissism Machiavellianism and being
psychotic and I personally tested
thousands and thousands of people it’s
the most accurate test and what happens
narcissism okay one of the symptoms of a
narcissist it’s not just like oh I like
to look in the mirror right that’s what
we think of Narcy one of the classic
symptoms is very thin-skinned they’re
always offended if you have a friend
that anything you say constructively
they fall apart it’s almost always
narcissism even if they’re introverted
there’s multiple forms there’s
introverted narcissism extroverted
exploitative all these different sub
facets of narcissism but we live in a
society that’s very narcissistic you’re
told like uh everybody is a winner
no not everybody’s a winner that’s like
saying everybody’s blonde there’s a
definition of what blonde is blonde is
like this yellowish hair so you lose
meaning when you start going and
everybody’s blonde
well everybody doesn’t win and the
sooner you wake up to that that biology
is ruthless man then you get a little
fear in you and when you get a little
fear in you you start listening because
if you’re truly afraid you listen let a
little fear come in and drive you and
motivate you when I was 19 I was walking
through a field with Joel Salatin
daydreaming cuz I was from the city and
people in the city are told that
daydreaming is such a wonderful thing
yeah once in a while if you’re Albert
Einstein it is but even Albert Einstein
paid attention to what it was doing in
the
he came up with a theory of relativity
equals mc-squared while he was working
at the post office tenant at ten hours a
day sorting mail paying attention
he wasn’t people have this thing like a
Stephen Hawking now but I thought they
just lay there and just daydream and let
their mind wander yeah sometimes but not
all the time so I’m walking through this
field with Joel and I didn’t notice
there was a gate open and all the cattle
were getting out I’ll never forget this
he turned to me he came out jolted me I
throw him he raised his voice I thought
I was like what he’s like there’s a time
to stop and smell the roses and it’s
right not right now time to stop his
Paula Rosen he was saying this is a time
to be aware of where we are when you’re
at home and you’re laying in bed or
you’re eating then you can daydream or
you’re writing a book you know but he’s
like now pay attention now and that one
thing that I learned from him I would
say is responsible for more of the all
the money I’ve ever been able to
generate with my businesses and in life
it’s responsible for 60% of it that one
lesson right there
pay attention and Warren Buffett second
or third richest man in the world he
says put all your eggs in one basket and
watch the basket watch the basket and
the basket is your life it’s your
business it’s your career
it’s your friendships watch it
you know how many people are just like
life will work out on its own no there’s
a universal law you remember this from
physics you have thermal law of
thermodynamics all this entropy that
means over time if you have a house and
you don’t maintain it and you don’t
paint it and you don’t fix the roof it’s
if you come back in 20 years it’s worse
not better there’s never a house in
history that’s been standing there
someone abandoned it and came back 20
years and like you’re gonna believe this
there’s a deck on here new cabinets no
new furniture no entropy means that you
have to inject energy your own energy
your own energy to improve things or
Warren Buffett one of the richest
billionaires in the world he bought this
house in 1958 one of the reasons most
people call financial matrix is they
don’t teach you in school you should
invest in things that don’t appreciate
you know so he does have a house and
houses real estate so it’s somewhat good
investment but most of he makes 200
billion dollars a year cash flow not all
net but he makes that investing in
businesses he does some real estate
that’s what you got to do or else like I
said people trapped in the financial
matrix the financial matrix is basically
where you work for somebody and you
never break free so you’re like this
slave and so you have to have create
excess cash you got to create
investments that work for you while you
sleep while he’s sleeping in this house
that he bought in 1958 for probably I
don’t know a hundred grand
he’s his businesses are generating you
know 20 billion dollars a year for them
for them and you can replicate that on a
small scale you don’t have to do twenty
billion but you have to learn how to
self educate yourself don’t get stuck in
there’s this myth of the solo
entrepreneur I’m not one good idea I’m
gonna go out or I’m gonna come up with
his one invention I was just reading a
book i think i was by craig Venter or
one of these big biotech guys and he
said you know there’s this huge myth
that they’re great breakthroughs happen
from one person having an individual
moment of genius the Steven Johnson
talks about this a lot in his book where
good ideas come from almost all great
ideas come from some collaborative
effect and so the best way to create a
collaborative effect is for you to take
what you know and clone it out to three
or four people or five people or at
least one person even if you let’s say
for example hypothetically you could get
two people to know 50% of what you know
to be 50% as effective as you well guess
what two people at 50% is another one of
you and you look out at the world and
you go man all the things that can be
accomplished if I just could didn’t have
to sleep and I could work 24 hours a day
or I could go out there Joel Salatin
told me that when he was here that I I
don’t have people sleep with all the
opportunities and so Joel my first
mentor he created his protege was his
son Daniel who now runs the operations
and frees Joel up to be in the big
picture and the company their farm is
more successful Polyface farm and Joel’s
able to do other things you have to be
sicut mentor allen nation he told me
before you can fix where you are you
have to understand how you got to where
you were so if you’re broke when I was
broke I had to start out before I asked
how I could get unbroke or make money I
had to figure out why I was in that
scenario to start with and I think the
most basic reason is that in school they
don’t teach us even the basic definition
of money like I’ve asked tens of
thousands of people when I do public
speaking what is the definition of money
define money in like three words or less
and people give me all these different
answers and long paragraphs but it took
me years to really find the answer which
I’m putting in the book but I guess I’ll
tell you now it’s scarce in-demand
resources and until you really
understand what that means it’s hard to
make real money in life so you ask
yourself why does the schoolteacher make
less money than a pro basketball player
isn’t education or being a teacher more
relevant more helpful to society than
being able to throw a ball you know in a
hoop but that’s not how our system works
if you understand the capitalistic
system it rewards people who have scarce
in-demand resources so let’s think about
it
what’s more rare and I’m not saying by
the way this is right and this is how
the world should be I’m just explaining
how it is if you can if you’re six foot
six can throw a ball in a hole or kick a
ball like soccer player you may fit the
million bucks a year by the way speaking
of that I’ve got my new kicks wearing my
New York Sox since I’m here in New York
but it’s more rare to be able to play
pro athletics than it is to be able to
teach school or you know serve coffee at
Starbucks and therefore less money flows
in that direction money is like a flow
like a river and it flows in the
directions of scarce but it can’t just
be scarce it has to be in demand for
example if you know how to do underwater
basket-weaving
that’s scarce very few people could
teach that but no one cares
so going back to the sports analogy
World Cup 700 million people watched it
so if you can play pro soccer like Messi
like Ronaldo you know you all of a
sudden you have a scarce skill to be
that good and it’s in demand and that
adds up to 50 million bucks so what you
have to do in life and it’s what I’m
going to talk about in this book it
should be released here soon is how you
can make money move your direction not
with a get-rich-quick scheme not just
thinking about it but actually making it
happen and the first place to start is
building more scarce in-demand skills
it’s too bad they didn’t do that while
we’re in school spend two or three hours
every day instead of just memorizing
stuff and you know doing spelling bees
and stuff like that which I guess is
somewhat relevant but not really in the
modern world where you have spellcheck
what’s really important is to really
have a deep understanding and a deep
skill set that’s scarcity and demand and
that will make you twice the money three
times the money a hundred times the
money that you’re making now and this is
a big one it’s called perfectionism that
means do you double and triple check
your work you know this world is full of
people that just go say dudes you give
them an assignment they do it and then
you’re like do you think it’s done right
they’re like yeah probably know probably
check the damn thing if you need if
you’re kind of stupid and no common
sense check it 30 times because you
don’t have good common sense you better
double check more triple check when you
get on a airplane you know how there’s
basically no airplane crashes in the
world as a ratio of how many flights
there are there’s millions of flights
and like zero crashes simple there’s a
system called Six Sigma that was
developed big companies used to use it
engineers used to use it and Six Sigma
MIT says you only make one person three
mistakes per million actions and so how
do you do that that seems outrageous how
can out of every million flights there
only be three
problems with engines not even crashes
just problems easy they create double
triple quadruple checklists when you get
on an airplane there’s an airplane
co-pilot reading off the list double
checking they don’t just take off they
go all right check the ailerons check
the landing gear check the electric
check everything and in double checking
then people can’t figure out why they go
broke all the time I can’t you’re not a
perfectionist and also though just to be
clear prudence which we talked about
earlier which is making wise decisions
there’s a time when you shouldn’t be a
perfectionist in fact most people I know
with low prudence they’re perfectionist
about idiotic things they’ll have their
nails done perfectly perfect they have
their eyebrows done perfect male or
female by the way I’m not picking on one
or another they’ll have their shoes
shined perfect but then their life is in
shambles I’m like bro why don’t you just
have your shoes a little dirtier but an
awesome life and it’s like what do you
mean oh it’s supposed to be a perfection
as you said I know perfectionist and
important stuff like being perfectionist
with making money double and triple
triple check I knew a guy at a nightclub
and he couldn’t figure out why I never
made money I was like bro people
stealing from you your employees well
I’m like do you double and triple-check
do you compare the little clicker from
your bouncer how many people walked in
the club how much money you took home
and if you’re charged and we used to
charge cover target if you’re charging
20 bucks and a hundred people came
through the door did you ever go oh I
should have $2,000 no he was just
randomly like well it’ll all work out no
it doesn’t doesn’t all work out people
still from you and you end up making
$1400
because 600 ours goes out the door to
something so perfectionism
well procrastinate because they don’t
feel confident that the what they’re
doing really motivates them for really
motivate motivated you it what you
wouldn’t procrastinate it’s like a
fourteen-year-old kid that the mom and
dad can’t get the kid to do anything but
the kids motivated play video games
Kittel ride his bike across town to buy
a video game and come back like so
there’s motivation there the parents
just don’t know how to find it and as
you grow you have to know how to find
deep within yourself that motivation and
once you have motivation you have no
problem with procrastination
thought that people argue with me on
this reading thing and people argue with
me about mentors no just use your own
gut feeling is that how you learn
English when you were 2 years old you
use your gut feeling to start
conjugating verbs no you learn from
other people you learn manners you learn
language you learn all things valuable
you learn to drive from another person
so it doesn’t make sense you learn life
so books are just the mentors who maybe
are dead now you wanna learn about Steve
Jobs you ain’t alive to teach you but
you can learn through accumulated wisdom
and that’s what trust me
I’ve meet I very few powerful
businessman I’ve ever met
don’t read a lot Warren Buffett who I
think’s the best businessman by far in
the world because done see has 75
companies that he pretty much runs 200
billion in revenue he reads eight hours
a day
he reads 600 he said he slowed down in
his old age he only reads 500 pages a
day Bill Gates goes on reading vacations
Mark Zuckerberg just start started a
reading once a week book club on
Facebook and already got a couple
million far and now with audiobooks
there’s no excuse you got YouTube videos
let this thing run in the background
like you want to become like a
supercomputer you just download smart
crap from smart people and you pick and
choose like some people are like Thai I
don’t agree with everything you say I’m
like good I don’t agree with everything
I said like a year later I’m like wait I
was wrong I see people making fun of the
Kardashians I’m like you gonna make fun
of the Kardashians look Kylie Jenner the
youngest Kardashian in the last 18
months has done four hundred million
dollars in revenue on lipstick kits and
various make up things with Kylie
cosmetics put that in perspective
Lauria maybelline massive brands it took
them fifty years as an organization with
thousands of employees to do a Kylie
Jenner did by herself at 20 at 18 you’re
gonna laugh at the Kardashians do you
have to agree with everything the
Kardashians know but like Abraham
Lincoln said I learned from everybody
even if sometimes it’s what not to do so
you can just go into the Kardashians
reverse-engineer their success go I like
this I like this I like this I don’t
like
branding whatever trying to brand
yourself or any even company if you
change your brand from what it used to
be at a rib right away you can get
resistant so most people when they get a
little resistance but mostly what optic
skin when they stop but over time if you
keep branding yourself in the new brand
then eventually it catches on like I
used to not have much fitness stuff so
when I fire to start putting Fitness
stuff people are like what is hold is
Fitness now eventually people just
associate that with you and they forget
there was a time when you didn’t do it
so that’s a good tip on branding you
have to have thick enough skin because
it’s kind of like when Facebook changed
every time they changed their interface
people go nuts oh I hate this but in
three months later they can’t remember
those 20 and then when you change to a
new one they say no we like the one
before but that one before is the one
they hated it because it was a change
from the version of you know one before
but Mark Zuckerberg smarter than people
that’s why it just keeps changing it
whatever is better and then people
eventually like it same when Instagram
changed their logo snapchat changed
their you know people always a lot of
people have low OH meaning low openness
to new experience
you have to know how to double check
your work it’s that simple only it
doesn’t mean you’re always a
perfectionist but it means when it’s
important when you’re a pilot of an
airplane double check before you go they
if you get on a plane you hear the
pilots double checking the copilot going
you know hydraulics and the guy goes
hydraulics that and that’s why planes
don’t crash and it’s called Six Sigma
it’s three defects per million your goal
in business and in life on the important
things is to make three mistakes per
million transactions in the only way you
do that is by being a perfectionist in
terms of double-check knees not be a
450-pound person making fun of other
people for being overweight just focus
on yourself and learn from the world
don’t take that attitude of uh oh really
nobody great is gonna prove their point
to you for the most part they’re gonna
say what they have to say this guy’s
dead he does not care what you think
about his book if you’re able to go
through this and glean three things that
change your life forever then that’s
great for you so have that attitude of
ah look for aha moments at every moment
in your day I started keeping a
billboard with my staff and I’m like
guys it’s getting lopsided look at all
the and I put a little mark every time I
had a good idea for the business and I’m
like I want your side to have more than
mine there’s no rule that I have to have
all the good ideas be innovative be
innovative read books like this find
little innovations for your own life I
can’t tell you how much better my life
is and anybody watching this will be if
you wake up every single day and you
take ten minutes I have yellow notepad
sitting all around my house I got that
from Bill Gates Bill Gates bill and
Microsoft at 17 by locking himself in a
hotel room was six yellow notepads and
he wrote out the whole basic code for
Gauss and things that built Microsoft
okay
he became the richest man in the world
18 years straight because he was
organized enough to lock himself in a
room and think through his day and so
what I try to do and whenever I do this
I have a great day whenever I don’t I
notice it be organized a lid
ten minutes I actually have this little
couch thing outside of my shower and I
put a note pad by it I take a shower
when I wake up I walk over to that I
kind of sit there and I just write out I
mean it can be as little as three main
projects you want to get done that day
change your mind change your life
everybody wants to change life but you
have to change your mind humans are
different because we have powerful minds
and sometimes I gets us in trouble but
if you pull it off right it can bring
you those things that you need in life
those things that you’re missing you
know everybody wants the good life like
I say my TEDx talk
everybody wants the good life but not
everybody gets the good life because
most people aren’t willing to do this
stuff that it takes they’re not willing
to put in the time put in the grind be
around people who make you uncomfortable
at the ego level when you feel
uncomfortable in settings that is when
they learn it’s not just who’s smarter
because sometimes smarter people don’t
help you there’s many forms of IQ
there’s emotional you know but get
around someone where you’re like I kinda
don’t fit in and because we’re all
narcissists because of society and
Instagram and all this and I’m guilty of
that too we don’t like to be
uncomfortable because a narcissist story
to themselves is you’re the best and so
you don’t you you your worldview is
messed up that’s a wiring issue let me
put it this way I meet people who think
they’re smart okay what it really tells
me is they’ve never been around actually
smart people if you’re really smart
watching this let’s say you have 155 IQ
that’s what Bill Gates has in Albert
Einstein we’re up there my step
grandfather had 155 IQ he speaks 14
language fluently he can write Chinese
he’s a chess master he can play three
other chess masters without looking at
the board while they looked at the board
and beat all them if you’re smart you
can do that if you’re not I got good
news for you Warren Buffett says you
only need about a 125 IQ to be very
successful but it’s better to stay in
your lane and just go I’m not that smart
but you can hire 155 IQs but that’s an
example of what I’m talking about of the
rewiring and right so these practical
things will change your life you can
only pick one thing that you want out of
life and if you pick the wrong thing you
will never really be successful then let
me back up
my mentor Joe South had said the worst
thing in life is to get older and
realize you got good at the wrong thing
and I see people that are very wealthy
but I don’t admire I live here in
Beverly Hills as billionaires all up and
down the street doesn’t mean I would
trade lies for in fact the best test is
I called the exchange test would you
trade lives and the reason that almost
anybody I meet I wouldn’t trade life for
them it’s not because they’re not smart
on because they’re not good people it’s
because one simple thing they are
optimizing for the wrong thing so let’s
say you say I want to be an entrepreneur
that’s not something you should optimize
for that’s ridiculous here’s why you
haven’t one life maybe will go to heaven
or hell after maybe doesn’t act like
maybe they’re a pack maybe there isn’t
I’ve never been there so I can’t speak
on but I can tell you you get one chance
on this planet and if you optimize for
an entrepreneur what about your health
what about love what about happiness I’m
a miserable entrepreneurs that are fat
out of shape I don’t want to be them I
know a dude that not a close friend of
mine but a friend of an entrepreneur
friend this guy’s a billionaire but he’s
so fat II can’t
I bet his two billion dollars as a
private 747 jet so what I want to be him
no he optimized for the wrong thing
he optimized to make two billion dollars
but he forgot why would you want to have
two billion hours of video on how health
I always remember when Joel Salatin said
nothing worse than life then realizing
you’ve got good at the wrong thing that
guy got good at the wrong thing it’s
irrefutable you cannot argue with that
why would you give your health up to
gain money there’s a saying that when
people are young they lose their health
to get wealth and when they’re old they
use their wealth to get back their
health it’s a circular logic and
circular in this case is illogical it’s
stupid
you are stupid mostly if I could go back
in time I realize most people are lost
literally most people are lost I don’t
I’m talking about the people who write
you know I got the biggest book club in
the world
I know top authors and all these people
they might be smart in one specific
domain but if you look at their life I
wouldn’t exchange for it there’s a few
people that I’ve met that when I look
back online
you know one of them Arnold
Schwarzenegger not everything but he was
healthy he was strong he changed the
world and he made gyms hot gyms come
from unfortunately he made it hot all
the gyms all over America just from
Arnold Schwarzenegger now other people
worked on it but not like him he
motivated people became self-made
millionaire before 30 if he wanted to
actively acting’s in art he was an
artist he can’t you know maybe it wasn’t
the best actor in the world he’s not bad
I was actually in his kitchen a couple
months ago just like this mean him
talking smoking cigars he’s good
accurate like I said he might not be you
know tad an award but he got the good
life his son was there his kids were
there
house he’s happy he’s friends he got
social life you gotta have health love
love happiness if you at any point
optimize it for anything that doesn’t
involve all four of them you’re making
the biggest mistake in the world if you
think about life you can be nihilistic
about life like what’s the purpose at
the end of the day you can dissect
anything and go what’s the purpose some
people go you know I want to make a
billion dollars and you can say to them
what’s the purpose we all die we all end
up in the same small grave at the end of
the day and you can say I want to become
super intelligent or I want to have them
get married and have kids at the end of
the day all flesh is grass and you
disappear just like the grass eventually
so for me the best guess I had and maybe
other people have spiritual things and
all that and the best guess I’ve ever
come up with is like if every day you
wake up and you go I don’t have it all
figured out let’s jump into something
crazy and see what happened that’s how I
got started on social media I started
really be dabbling with it in 2012-2013
then in 2014 if someone was like you
should do YouTube it’s gonna be big so I
was like let’s try a new adventure and I
just started shooting my first videos
and January 25th 2016 2015 sorry I put
out this video and it it’s ended up to
me literally different versions had like
600 million views it’s gotten a lot of
use pins to my garage here in my garage
and some other similar garage themed
ones everybody should try to be rich and
famous
at least once and should get it just to
realize it’s not as good as you think
but the adventure part school and also
when I say adventure I also mean gaining
insight into life the biggest thing I’ve
learned if I could be 18 again I wish
somebody had told me basically nobody
knows what they’re doing even the adults
you think you know everybody’s lost in
the world is the blind leading the blind
so the ultimate adventure to me is not
just like bungee jumping or something
like that are going to the Amish it’s
trying to get insight and see life as a
puzzle and your goal in life
is to seek the adventures that piece the
puzzle together so that at the end of
your life you like kind of get get it
you kind of get it I feel like most
people don’t get what life is one of the
best pieces of advice that nobody
follows right here say thank you I can’t
tell you how many people come as a towel
on a network
I don’t be able to meet influencers
powerful people and blah blah blah get
investors I’m like you don’t even say
thank you I’m experimenting here with
some crazy diets I had some Swedish
bitters got some probiotics you know
everything you eat can’t be sweet if you
want to be healthy just like every piece
of advice you get can’t be healthy most
people need to wake up say thank you if
I do a conference I mean a party at my
house I invite two three four five
hundred people mark my words
every single time at most ten people
right thank you at most people are
entitled in this world but never get mad
they’ll get their own reward
their own punishment they’ll be broke
because like attracts like you know who
the ten people are that always write me
thank you if I do a big party open bar
open up my house without a doubt it’ll
be the billionaires the millionaires the
a-list celebrities those are the ones
who say say thank you that’s why they’re
a-list that’s why they’re billionaires
and millionaires you got a reverse
engineer their success they did the
stuff that most entitled people won’t do
I know some people gonna get mad said
Todd you seem angry in this I’m not
angry I already know the secret huh I
always I caught the one for one
principle some does one thing for you
you do one thing for them always you
never let that ratio get out of whack
what you got to do to build a team first
of all number one you got to realize no
one ever did anything big without an
elite team around them Bill Gates said
he never did anything alone except to
take tests he said he had Steve Ballmer
he had Paul Allen he had a hundred
thousand employees behind him to build
Microsoft in the biggest company in the
world same with Facebook the same with
all same with Elon Musk that realization
will help you put in the time and
motivate you to have an effort to want
to put in the effort number two thing is
you have to train formally everybody
knows they need to train their employees
but they do it in a very informal
haphazard way which doesn’t work
what does formal training look like well
maybe a little bit like a classroom a
dedicated room that your employees go
into a dedicated time pen and paper
drills exercises quizzes
then number three you’ve got to look
over their shoulder because once you do
the formal training
you can’t expect memory retention to be
perfect so it must be continued over the
shoulder style training my main hope is
that you’ll take away the concept of a
formal training program most
entrepreneurs train very haphazard
leaving train only in crisises well
that’s not good prudence is the ability
to make the right decision and I can’t
tell you how many entrepreneurs and non
entrepreneurs even me at times – I’m not
special I’m lumping all of us in this
because of our upbringing in society our
goal is let’s say our goal is like that
camera right there so let’s assume
that’s north so I have this compass in
my brain and my goal is to go right
there let’s say it’s a mile away so
north
what happens if society my upbringing in
school wired my compass exactly
backwards so I think let’s say I can’t
see that camera but I know I want to go
north so I pull out like my compass and
it points that way so I just take off
walking and I do it in an organized
fashion I do it in a perfectionist
manner I’m perfecting my steps in my
posture I’m also working on you know
hard work and hustle keep walking
towards your goal well the truth is if
you go south when you should go north
you could have gone one mile but the
earth is about twenty-four thousand
miles in circumference so you get to
walk twenty four thousand miles and
you’ll come up on the backside and you
will get your goal that’s most
entrepreneurs the average person takes
twenty years to become a millionaire 90%
of businesses fail within the first five
years 80 to 90 depend on what statistic
most people I did the math once the
average American has $60,000 saved by
the time they’re about 60 years old so
my answer I did the math you can do this
with this simple financial calculator
everybody in America your parents
everybody you know will be a millionaire
if they live to 160 at 160 years old you
take 60 grand at age 60 and you give it
a
return-on-investment 8% 2% you’ll be a
millionaire at 160 but the problem is
the great philosopher I think was
Aristotle Socrates said the problem is
art is long but life is short the art of
living and getting to your objective is
long but it doesn’t have to be it’s long
if your compass is backwards so the
whole point of what I’m saying about
adventure at the beginning is I’m trying
to take myself and point it to the true
north and you have to learn that from
books and mentors and a life experience
and listening and finding in-person
mentors and all those things they help
adjust your compass and most people are
gonna get what they want just about 40
years longer are there like key
principles though that you can use to
turn that compass of north actually
points north yes
first one is just like Alcoholics
Anonymous admit you’re lost and that
one’s hard for people you tell people
even for me sometimes I want to think
I’m smart and I got it all figured out
and sometimes I’m like wait a sec I’m
still lost and not that the acquiescence
the the admittance of the fact that
you’re still lost it gets you on track a
lot faster so if you’re watching this
and you feel lost it’s better to just
sit down and be like I’m lost because
the day you admit you’re lost is the day
you allow yourself to be found by people who can give you a tip
are successful financially and reverse
engineer what they did reverse engineer
REI keep that little acronym in my head
it’s one of the most powerful acronyms
that you can remember are e reverse
engineer so for example when I was
starting out I was like what would it
take to become a millionaire and I go
alright
win the lottery a lot of people play the
lottery and then some people one or two
become millionaires but if you reverse
engineer I asked myself this one day I
started study what makes the most
millionaires what’s made the most
millionaires and the United States
self-made not people who inherited their
money and the answer is tada real estate
now you don’t even have to be trying to
make a million dollars every time a
millionaire but just think about that
reverse engineer that and put it into
your life it’s not just about a career
but it’s about also passive income
because your careers active income you
work on your career you go to your job
even if you’re an entrepreneur right but
what about when you’re asleep here’s a
crazy statistic if you just listen to
this person if you make what’s minimum
wage let’s say let’s just say 15 bucks
an hour that’s $30,000 a year right but
what happens if you make $15 an hour
24/7 okay now that’s $90,000 a year
triple it but you can’t work 24 hours a
day so that means you’d have to have
this thing called passive income and
passive income means I locked myself in
my own living room here well god this
way I was filming over here so what I
started doing is going I gotta have my
active income job career
entrepreneurship but I want to reverse
engineer the passive income that the
most millionaires have ever the most
what has created the most millionaires
this test called the dark triad test
which again anything important like this
nobody ever learned it in school because
schools are too stupid to take real
powerful science and apply it to life
but the dark triad is a worldview
barometer for everybody watching you can
take it there’s a different free dark
triad tests online it tests for three
main traits negative qualities
narcissism Machiavellianism and being
psychotic and I personally tested
thousands and thousands of people it’s
the most accurate test and what happens
narcissism okay one of the symptoms of a
narcissist it’s not just like oh I like
to look in the mirror right that’s what
we think of Narcy one of the classic
symptoms is very thin-skinned they’re
always offended if you have a friend
that anything you say constructively
they fall apart it’s almost always
narcissism even if they’re introverted
there’s multiple forms there’s
introverted narcissism extroverted
exploitative all these different sub
facets of narcissism but we live in a
society that’s very narcissistic you’re
told like uh everybody is a winner
no not everybody’s a winner that’s like
saying everybody’s blonde there’s a
definition of what blonde is blonde is
like this yellowish hair so you lose
meaning when you start going and
everybody’s blonde
well everybody doesn’t win and the
sooner you wake up to that that biology
is ruthless man then you get a little
fear in you and when you get a little
fear in you you start listening because
if you’re truly afraid you listen let a
little fear come in and drive you and
motivate you when I was 19 I was walking
through a field with Joel Salatin
daydreaming cuz I was from the city and
people in the city are told that
daydreaming is such a wonderful thing
yeah once in a while if you’re Albert
Einstein it is but even Albert Einstein
paid attention to what it was doing in
the
he came up with a theory of relativity
equals mc-squared while he was working
at the post office tenant at ten hours a
day sorting mail paying attention
he wasn’t people have this thing like a
Stephen Hawking now but I thought they
just lay there and just daydream and let
their mind wander yeah sometimes but not
all the time so I’m walking through this
field with Joel and I didn’t notice
there was a gate open and all the cattle
were getting out I’ll never forget this
he turned to me he came out jolted me I
throw him he raised his voice I thought
I was like what he’s like there’s a time
to stop and smell the roses and it’s
right not right now time to stop his
Paula Rosen he was saying this is a time
to be aware of where we are when you’re
at home and you’re laying in bed or
you’re eating then you can daydream or
you’re writing a book you know but he’s
like now pay attention now and that one
thing that I learned from him I would
say is responsible for more of the all
the money I’ve ever been able to
generate with my businesses and in life
it’s responsible for 60% of it that one
lesson right there
pay attention and Warren Buffett second
or third richest man in the world he
says put all your eggs in one basket and
watch the basket watch the basket and
the basket is your life it’s your
business it’s your career
it’s your friendships watch it
you know how many people are just like
life will work out on its own no there’s
a universal law you remember this from
physics you have thermal law of
thermodynamics all this entropy that
means over time if you have a house and
you don’t maintain it and you don’t
paint it and you don’t fix the roof it’s
if you come back in 20 years it’s worse
not better there’s never a house in
history that’s been standing there
someone abandoned it and came back 20
years and like you’re gonna believe this
there’s a deck on here new cabinets no
new furniture no entropy means that you
have to inject energy your own energy
your own energy to improve things or
Warren Buffett one of the richest
billionaires in the world he bought this
house in 1958 one of the reasons most
people call financial matrix is they
don’t teach you in school you should
invest in things that don’t appreciate
you know so he does have a house and
houses real estate so it’s somewhat good
investment but most of he makes 200
billion dollars a year cash flow not all
net but he makes that investing in
businesses he does some real estate
that’s what you got to do or else like I
said people trapped in the financial
matrix the financial matrix is basically
where you work for somebody and you
never break free so you’re like this
slave and so you have to have create
excess cash you got to create
investments that work for you while you
sleep while he’s sleeping in this house
that he bought in 1958 for probably I
don’t know a hundred grand
he’s his businesses are generating you
know 20 billion dollars a year for them
for them and you can replicate that on a
small scale you don’t have to do twenty
billion but you have to learn how to
self educate yourself don’t get stuck in
there’s this myth of the solo
entrepreneur I’m not one good idea I’m
gonna go out or I’m gonna come up with
his one invention I was just reading a
book i think i was by craig Venter or
one of these big biotech guys and he
said you know there’s this huge myth
that they’re great breakthroughs happen
from one person having an individual
moment of genius the Steven Johnson
talks about this a lot in his book where
good ideas come from almost all great
ideas come from some collaborative
effect and so the best way to create a
collaborative effect is for you to take
what you know and clone it out to three
or four people or five people or at
least one person even if you let’s say
for example hypothetically you could get
two people to know 50% of what you know
to be 50% as effective as you well guess
what two people at 50% is another one of
you and you look out at the world and
you go man all the things that can be
accomplished if I just could didn’t have
to sleep and I could work 24 hours a day
or I could go out there Joel Salatin
told me that when he was here that I I
don’t have people sleep with all the
opportunities and so Joel my first
mentor he created his protege was his
son Daniel who now runs the operations
and frees Joel up to be in the big
picture and the company their farm is
more successful Polyface farm and Joel’s
able to do other things you have to be
sicut mentor allen nation he told me
before you can fix where you are you
have to understand how you got to where
you were so if you’re broke when I was
broke I had to start out before I asked
how I could get unbroke or make money I
had to figure out why I was in that
scenario to start with and I think the
most basic reason is that in school they
don’t teach us even the basic definition
of money like I’ve asked tens of
thousands of people when I do public
speaking what is the definition of money
define money in like three words or less
and people give me all these different
answers and long paragraphs but it took
me years to really find the answer which
I’m putting in the book but I guess I’ll
tell you now it’s scarce in-demand
resources and until you really
understand what that means it’s hard to
make real money in life so you ask
yourself why does the schoolteacher make
less money than a pro basketball player
isn’t education or being a teacher more
relevant more helpful to society than
being able to throw a ball you know in a
hoop but that’s not how our system works
if you understand the capitalistic
system it rewards people who have scarce
in-demand resources so let’s think about
it
what’s more rare and I’m not saying by
the way this is right and this is how
the world should be I’m just explaining
how it is if you can if you’re six foot
six can throw a ball in a hole or kick a
ball like soccer player you may fit the
million bucks a year by the way speaking
of that I’ve got my new kicks wearing my
New York Sox since I’m here in New York
but it’s more rare to be able to play
pro athletics than it is to be able to
teach school or you know serve coffee at
Starbucks and therefore less money flows
in that direction money is like a flow
like a river and it flows in the
directions of scarce but it can’t just
be scarce it has to be in demand for
example if you know how to do underwater
basket-weaving
that’s scarce very few people could
teach that but no one cares
so going back to the sports analogy
World Cup 700 million people watched it
so if you can play pro soccer like Messi
like Ronaldo you know you all of a
sudden you have a scarce skill to be
that good and it’s in demand and that
adds up to 50 million bucks so what you
have to do in life and it’s what I’m
going to talk about in this book it
should be released here soon is how you
can make money move your direction not
with a get-rich-quick scheme not just
thinking about it but actually making it
happen and the first place to start is
building more scarce in-demand skills
it’s too bad they didn’t do that while
we’re in school spend two or three hours
every day instead of just memorizing
stuff and you know doing spelling bees
and stuff like that which I guess is
somewhat relevant but not really in the
modern world where you have spellcheck
what’s really important is to really
have a deep understanding and a deep
skill set that’s scarcity and demand and
that will make you twice the money three
times the money a hundred times the
money that you’re making now and this is
a big one it’s called perfectionism that
means do you double and triple check
your work you know this world is full of
people that just go say dudes you give
them an assignment they do it and then
you’re like do you think it’s done right
they’re like yeah probably know probably
check the damn thing if you need if
you’re kind of stupid and no common
sense check it 30 times because you
don’t have good common sense you better
double check more triple check when you
get on a airplane you know how there’s
basically no airplane crashes in the
world as a ratio of how many flights
there are there’s millions of flights
and like zero crashes simple there’s a
system called Six Sigma that was
developed big companies used to use it
engineers used to use it and Six Sigma
MIT says you only make one person three
mistakes per million actions and so how
do you do that that seems outrageous how
can out of every million flights there
only be three
problems with engines not even crashes
just problems easy they create double
triple quadruple checklists when you get
on an airplane there’s an airplane
co-pilot reading off the list double
checking they don’t just take off they
go all right check the ailerons check
the landing gear check the electric
check everything and in double checking
then people can’t figure out why they go
broke all the time I can’t you’re not a
perfectionist and also though just to be
clear prudence which we talked about
earlier which is making wise decisions
there’s a time when you shouldn’t be a
perfectionist in fact most people I know
with low prudence they’re perfectionist
about idiotic things they’ll have their
nails done perfectly perfect they have
their eyebrows done perfect male or
female by the way I’m not picking on one
or another they’ll have their shoes
shined perfect but then their life is in
shambles I’m like bro why don’t you just
have your shoes a little dirtier but an
awesome life and it’s like what do you
mean oh it’s supposed to be a perfection
as you said I know perfectionist and
important stuff like being perfectionist
with making money double and triple
triple check I knew a guy at a nightclub
and he couldn’t figure out why I never
made money I was like bro people
stealing from you your employees well
I’m like do you double and triple-check
do you compare the little clicker from
your bouncer how many people walked in
the club how much money you took home
and if you’re charged and we used to
charge cover target if you’re charging
20 bucks and a hundred people came
through the door did you ever go oh I
should have $2,000 no he was just
randomly like well it’ll all work out no
it doesn’t doesn’t all work out people
still from you and you end up making
$1400
because 600 ours goes out the door to
something so perfectionism
well procrastinate because they don’t
feel confident that the what they’re
doing really motivates them for really
motivate motivated you it what you
wouldn’t procrastinate it’s like a
fourteen-year-old kid that the mom and
dad can’t get the kid to do anything but
the kids motivated play video games
Kittel ride his bike across town to buy
a video game and come back like so
there’s motivation there the parents
just don’t know how to find it and as
you grow you have to know how to find
deep within yourself that motivation and
once you have motivation you have no
problem with procrastination
thought that people argue with me on
this reading thing and people argue with
me about mentors no just use your own
gut feeling is that how you learn
English when you were 2 years old you
use your gut feeling to start
conjugating verbs no you learn from
other people you learn manners you learn
language you learn all things valuable
you learn to drive from another person
so it doesn’t make sense you learn life
so books are just the mentors who maybe
are dead now you wanna learn about Steve
Jobs you ain’t alive to teach you but
you can learn through accumulated wisdom
and that’s what trust me
I’ve meet I very few powerful
businessman I’ve ever met
don’t read a lot Warren Buffett who I
think’s the best businessman by far in
the world because done see has 75
companies that he pretty much runs 200
billion in revenue he reads eight hours
a day
he reads 600 he said he slowed down in
his old age he only reads 500 pages a
day Bill Gates goes on reading vacations
Mark Zuckerberg just start started a
reading once a week book club on
Facebook and already got a couple
million far and now with audiobooks
there’s no excuse you got YouTube videos
let this thing run in the background
like you want to become like a
supercomputer you just download smart
crap from smart people and you pick and
choose like some people are like Thai I
don’t agree with everything you say I’m
like good I don’t agree with everything
I said like a year later I’m like wait I
was wrong I see people making fun of the
Kardashians I’m like you gonna make fun
of the Kardashians look Kylie Jenner the
youngest Kardashian in the last 18
months has done four hundred million
dollars in revenue on lipstick kits and
various make up things with Kylie
cosmetics put that in perspective
Lauria maybelline massive brands it took
them fifty years as an organization with
thousands of employees to do a Kylie
Jenner did by herself at 20 at 18 you’re
gonna laugh at the Kardashians do you
have to agree with everything the
Kardashians know but like Abraham
Lincoln said I learned from everybody
even if sometimes it’s what not to do so
you can just go into the Kardashians
reverse-engineer their success go I like
this I like this I like this I don’t
like
branding whatever trying to brand
yourself or any even company if you
change your brand from what it used to
be at a rib right away you can get
resistant so most people when they get a
little resistance but mostly what optic
skin when they stop but over time if you
keep branding yourself in the new brand
then eventually it catches on like I
used to not have much fitness stuff so
when I fire to start putting Fitness
stuff people are like what is hold is
Fitness now eventually people just
associate that with you and they forget
there was a time when you didn’t do it
so that’s a good tip on branding you
have to have thick enough skin because
it’s kind of like when Facebook changed
every time they changed their interface
people go nuts oh I hate this but in
three months later they can’t remember
those 20 and then when you change to a
new one they say no we like the one
before but that one before is the one
they hated it because it was a change
from the version of you know one before
but Mark Zuckerberg smarter than people
that’s why it just keeps changing it
whatever is better and then people
eventually like it same when Instagram
changed their logo snapchat changed
their you know people always a lot of
people have low OH meaning low openness
to new experience
you have to know how to double check
your work it’s that simple only it
doesn’t mean you’re always a
perfectionist but it means when it’s
important when you’re a pilot of an
airplane double check before you go they
if you get on a plane you hear the
pilots double checking the copilot going
you know hydraulics and the guy goes
hydraulics that and that’s why planes
don’t crash and it’s called Six Sigma
it’s three defects per million your goal
in business and in life on the important
things is to make three mistakes per
million transactions in the only way you
do that is by being a perfectionist in
terms of double-check knees not be a
450-pound person making fun of other
people for being overweight just focus
on yourself and learn from the world
don’t take that attitude of uh oh really
nobody great is gonna prove their point
to you for the most part they’re gonna
say what they have to say this guy’s
dead he does not care what you think
about his book if you’re able to go
through this and glean three things that
change your life forever then that’s
great for you so have that attitude of
ah look for aha moments at every moment
in your day I started keeping a
billboard with my staff and I’m like
guys it’s getting lopsided look at all
the and I put a little mark every time I
had a good idea for the business and I’m
like I want your side to have more than
mine there’s no rule that I have to have
all the good ideas be innovative be
innovative read books like this find
little innovations for your own life I
can’t tell you how much better my life
is and anybody watching this will be if
you wake up every single day and you
take ten minutes I have yellow notepad
sitting all around my house I got that
from Bill Gates Bill Gates bill and
Microsoft at 17 by locking himself in a
hotel room was six yellow notepads and
he wrote out the whole basic code for
Gauss and things that built Microsoft
okay
he became the richest man in the world
18 years straight because he was
organized enough to lock himself in a
room and think through his day and so
what I try to do and whenever I do this
I have a great day whenever I don’t I
notice it be organized a lid
ten minutes I actually have this little
couch thing outside of my shower and I
put a note pad by it I take a shower
when I wake up I walk over to that I
kind of sit there and I just write out I
mean it can be as little as three main
projects you want to get done that day
change your mind change your life
everybody wants to change life but you
have to change your mind humans are
different because we have powerful minds
and sometimes I gets us in trouble but
if you pull it off right it can bring
you those things that you need in life
those things that you’re missing you
know everybody wants the good life like
I say my TEDx talk
everybody wants the good life but not
everybody gets the good life because
most people aren’t willing to do this
stuff that it takes they’re not willing
to put in the time put in the grind be
around people who make you uncomfortable
at the ego level when you feel
uncomfortable in settings that is when
they learn it’s not just who’s smarter
because sometimes smarter people don’t
help you there’s many forms of IQ
there’s emotional you know but get
around someone where you’re like I kinda
don’t fit in and because we’re all
narcissists because of society and
Instagram and all this and I’m guilty of
that too we don’t like to be
uncomfortable because a narcissist story
to themselves is you’re the best and so
you don’t you you your worldview is
messed up that’s a wiring issue let me
put it this way I meet people who think
they’re smart okay what it really tells
me is they’ve never been around actually
smart people if you’re really smart
watching this let’s say you have 155 IQ
that’s what Bill Gates has in Albert
Einstein we’re up there my step
grandfather had 155 IQ he speaks 14
language fluently he can write Chinese
he’s a chess master he can play three
other chess masters without looking at
the board while they looked at the board
and beat all them if you’re smart you
can do that if you’re not I got good
news for you Warren Buffett says you
only need about a 125 IQ to be very
successful but it’s better to stay in
your lane and just go I’m not that smart
but you can hire 155 IQs but that’s an
example of what I’m talking about of the
rewiring and right so these practical
things will change your life you can
only pick one thing that you want out of
life and if you pick the wrong thing you
will never really be successful then let
me back up
my mentor Joe South had said the worst
thing in life is to get older and
realize you got good at the wrong thing
and I see people that are very wealthy
but I don’t admire I live here in
Beverly Hills as billionaires all up and
down the street doesn’t mean I would
trade lies for in fact the best test is
I called the exchange test would you
trade lives and the reason that almost
anybody I meet I wouldn’t trade life for
them it’s not because they’re not smart
on because they’re not good people it’s
because one simple thing they are
optimizing for the wrong thing so let’s
say you say I want to be an entrepreneur
that’s not something you should optimize
for that’s ridiculous here’s why you
haven’t one life maybe will go to heaven
or hell after maybe doesn’t act like
maybe they’re a pack maybe there isn’t
I’ve never been there so I can’t speak
on but I can tell you you get one chance
on this planet and if you optimize for
an entrepreneur what about your health
what about love what about happiness I’m
a miserable entrepreneurs that are fat
out of shape I don’t want to be them I
know a dude that not a close friend of
mine but a friend of an entrepreneur
friend this guy’s a billionaire but he’s
so fat II can’t
I bet his two billion dollars as a
private 747 jet so what I want to be him
no he optimized for the wrong thing
he optimized to make two billion dollars
but he forgot why would you want to have
two billion hours of video on how health
I always remember when Joel Salatin said
nothing worse than life then realizing
you’ve got good at the wrong thing that
guy got good at the wrong thing it’s
irrefutable you cannot argue with that
why would you give your health up to
gain money there’s a saying that when
people are young they lose their health
to get wealth and when they’re old they
use their wealth to get back their
health it’s a circular logic and
circular in this case is illogical it’s
stupid
you are stupid mostly if I could go back
in time I realize most people are lost
literally most people are lost I don’t
I’m talking about the people who write
you know I got the biggest book club in
the world
I know top authors and all these people
they might be smart in one specific
domain but if you look at their life I
wouldn’t exchange for it there’s a few
people that I’ve met that when I look
back online
you know one of them Arnold
Schwarzenegger not everything but he was
healthy he was strong he changed the
world and he made gyms hot gyms come
from unfortunately he made it hot all
the gyms all over America just from
Arnold Schwarzenegger now other people
worked on it but not like him he
motivated people became self-made
millionaire before 30 if he wanted to
actively acting’s in art he was an
artist he can’t you know maybe it wasn’t
the best actor in the world he’s not bad
I was actually in his kitchen a couple
months ago just like this mean him
talking smoking cigars he’s good
accurate like I said he might not be you
know tad an award but he got the good
life his son was there his kids were
there
house he’s happy he’s friends he got
social life you gotta have health love
love happiness if you at any point
optimize it for anything that doesn’t
involve all four of them you’re making
the biggest mistake in the world if you
think about life you can be nihilistic
about life like what’s the purpose at
the end of the day you can dissect
anything and go what’s the purpose some
people go you know I want to make a
billion dollars and you can say to them
what’s the purpose we all die we all end
up in the same small grave at the end of
the day and you can say I want to become
super intelligent or I want to have them
get married and have kids at the end of
the day all flesh is grass and you
disappear just like the grass eventually
so for me the best guess I had and maybe
other people have spiritual things and
all that and the best guess I’ve ever
come up with is like if every day you
wake up and you go I don’t have it all
figured out let’s jump into something
crazy and see what happened that’s how I
got started on social media I started
really be dabbling with it in 2012-2013
then in 2014 if someone was like you
should do YouTube it’s gonna be big so I
was like let’s try a new adventure and I
just started shooting my first videos
and January 25th 2016 2015 sorry I put
out this video and it it’s ended up to
me literally different versions had like
600 million views it’s gotten a lot of
use pins to my garage here in my garage
and some other similar garage themed
ones everybody should try to be rich and
famous
at least once and should get it just to
realize it’s not as good as you think
but the adventure part school and also
when I say adventure I also mean gaining
insight into life the biggest thing I’ve
learned if I could be 18 again I wish
somebody had told me basically nobody
knows what they’re doing even the adults
you think you know everybody’s lost in
the world is the blind leading the blind
so the ultimate adventure to me is not
just like bungee jumping or something
like that are going to the Amish it’s
trying to get insight and see life as a
puzzle and your goal in life
is to seek the adventures that piece the
puzzle together so that at the end of
your life you like kind of get get it
you kind of get it I feel like most
people don’t get what life is one of the
best pieces of advice that nobody
follows right here say thank you I can’t
tell you how many people come as a towel
on a network
I don’t be able to meet influencers
powerful people and blah blah blah get
investors I’m like you don’t even say
thank you I’m experimenting here with
some crazy diets I had some Swedish
bitters got some probiotics you know
everything you eat can’t be sweet if you
want to be healthy just like every piece
of advice you get can’t be healthy most
people need to wake up say thank you if
I do a conference I mean a party at my
house I invite two three four five
hundred people mark my words
every single time at most ten people
right thank you at most people are
entitled in this world but never get mad
they’ll get their own reward
their own punishment they’ll be broke
because like attracts like you know who
the ten people are that always write me
thank you if I do a big party open bar
open up my house without a doubt it’ll
be the billionaires the millionaires the
a-list celebrities those are the ones
who say say thank you that’s why they’re
a-list that’s why they’re billionaires
and millionaires you got a reverse
engineer their success they did the
stuff that most entitled people won’t do
I know some people gonna get mad said
Todd you seem angry in this I’m not
angry I already know the secret huh I
always I caught the one for one
principle some does one thing for you
you do one thing for them always you
never let that ratio get out of whack
what you got to do to build a team first
of all number one you got to realize no
one ever did anything big without an
elite team around them Bill Gates said
he never did anything alone except to
take tests he said he had Steve Ballmer
he had Paul Allen he had a hundred
thousand employees behind him to build
Microsoft in the biggest company in the
world same with Facebook the same with
all same with Elon Musk that realization
will help you put in the time and
motivate you to have an effort to want
to put in the effort number two thing is
you have to train formally everybody
knows they need to train their employees
but they do it in a very informal
haphazard way which doesn’t work
what does formal training look like well
maybe a little bit like a classroom a
dedicated room that your employees go
into a dedicated time pen and paper
drills exercises quizzes
then number three you’ve got to look
over their shoulder because once you do
the formal training
you can’t expect memory retention to be
perfect so it must be continued over the
shoulder style training my main hope is
that you’ll take away the concept of a
formal training program most
entrepreneurs train very haphazard
leaving train only in crisises well
that’s not good prudence is the ability
to make the right decision and I can’t
tell you how many entrepreneurs and non
entrepreneurs even me at times – I’m not
special I’m lumping all of us in this
because of our upbringing in society our
goal is let’s say our goal is like that
camera right there so let’s assume
that’s north so I have this compass in
my brain and my goal is to go right
there let’s say it’s a mile away so
north
what happens if society my upbringing in
school wired my compass exactly
backwards so I think let’s say I can’t
see that camera but I know I want to go
north so I pull out like my compass and
it points that way so I just take off
walking and I do it in an organized
fashion I do it in a perfectionist
manner I’m perfecting my steps in my
posture I’m also working on you know
hard work and hustle keep walking
towards your goal well the truth is if
you go south when you should go north
you could have gone one mile but the
earth is about twenty-four thousand
miles in circumference so you get to
walk twenty four thousand miles and
you’ll come up on the backside and you
will get your goal that’s most
entrepreneurs the average person takes
twenty years to become a millionaire 90%
of businesses fail within the first five
years 80 to 90 depend on what statistic
most people I did the math once the
average American has $60,000 saved by
the time they’re about 60 years old so
my answer I did the math you can do this
with this simple financial calculator
everybody in America your parents
everybody you know will be a millionaire
if they live to 160 at 160 years old you
take 60 grand at age 60 and you give it
a
return-on-investment 8% 2% you’ll be a
millionaire at 160 but the problem is
the great philosopher I think was
Aristotle Socrates said the problem is
art is long but life is short the art of
living and getting to your objective is
long but it doesn’t have to be it’s long
if your compass is backwards so the
whole point of what I’m saying about
adventure at the beginning is I’m trying
to take myself and point it to the true
north and you have to learn that from
books and mentors and a life experience
and listening and finding in-person
mentors and all those things they help
adjust your compass and most people are
gonna get what they want just about 40
years longer are there like key
principles though that you can use to
turn that compass of north actually
points north yes
first one is just like Alcoholics
Anonymous admit you’re lost and that
one’s hard for people you tell people
even for me sometimes I want to think
I’m smart and I got it all figured out
and sometimes I’m like wait a sec I’m
still lost and not that the acquiescence
the the admittance of the fact that
you’re still lost it gets you on track a
lot faster so if you’re watching this
and you feel lost it’s better to just
sit down and be like I’m lost because
the day you admit you’re lost is the day
you allow yourself to be found by people who can give you a tip
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