Dan Martell - August 28, 2023


How the Wealthy Grow Their Business


Episode Stats

Length

4 minutes

Words per Minute

190.7562

Word Count

930

Sentence Count

52

Misogynist Sentences

2

Hate Speech Sentences

1


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 Building a multi-million dollar company
00:00:01.880 doesn't mean you have to kill yourself
00:00:03.600 while you're doing it.
00:00:04.620 These are the three things that I teach people
00:00:06.540 that are struggling with scaling
00:00:08.160 that helps them overcome this and resets their frame.
00:00:11.380 The last one is probably the most important.
00:00:13.380 You know, I had a friend of mine, Rachel,
00:00:14.500 she read my book, Buy Back Your Time,
00:00:17.000 and she literally tripled her revenue,
00:00:19.260 doubled her profit, and that was exciting for her,
00:00:21.440 but she wanted to cap her success.
00:00:23.220 I don't want it to get too big.
00:00:25.240 I think I'm gonna get it to a place where it's manageable.
00:00:27.740 And what I wanna do is unpack
00:00:29.280 these specific strategies that I shared with her
00:00:32.120 that allowed her to see the flaw in her thinking.
00:00:35.220 Because some people get scared by the word empire.
00:00:37.460 The subtitle of my book is Get Unstuck,
00:00:39.780 Reclaim Your Freedom, and Build Your Empire.
00:00:42.380 Now, in my world, an empire is a life
00:00:45.040 of unlimited creation you never have to retire from.
00:00:47.940 That's what I wanna share with you.
00:00:49.600 The process, the thinking behind it
00:00:52.160 so that you can apply that and not cap yourself.
00:00:55.260 Don't self-impose yourself from success
00:00:57.300 because you have this belief about fear
00:00:59.020 of how hard it's gonna be,
00:01:01.240 unlock the chains that you're holding back in your mind
00:01:04.040 so that you can create even more.
00:01:05.840 Let's get into it.
00:01:08.260 Number one is the buyback loop.
00:01:10.100 When entrepreneurs experience pain,
00:01:12.240 they won't grow into it.
00:01:13.640 If I held a knife to your neck and I said, step forward,
00:01:16.020 your body wouldn't let you step forward into the knife.
00:01:18.480 So in those moments, I teach the buyback loop.
00:01:20.880 When you run into a problem,
00:01:22.440 say audit your time and energy,
00:01:24.360 transfer the things that are sucking your energy
00:01:26.300 that are low cost to somebody else.
00:01:28.000 So you can delegate or you can hire somebody
00:01:29.440 or you can go out-task it part-time
00:01:31.460 and then fill it with things that light you up.
00:01:35.120 See, my client, Rachel, got a bit of that
00:01:37.680 and then immediately had a huge win
00:01:39.740 and started to feel nervous that if it kept growing,
00:01:43.220 it would grow beyond her capacity.
00:01:45.280 But what she forgot is that if you keep doing
00:01:47.500 the audit transfer fill buyback loop,
00:01:50.280 that it'd be nearly impossible for that to happen
00:01:52.960 because the bigger you grow,
00:01:55.220 the more things get taken out of your calendar.
00:01:57.380 And that's why I think it's such a big idea.
00:01:59.520 The more you grow, the more time you get back
00:02:01.860 and not the other way around.
00:02:03.040 Number two is replacing yourself.
00:02:04.760 Think about this.
00:02:05.460 If you are the number one provider in your family
00:02:07.640 and something happens to you,
00:02:09.520 there's nobody else that's gonna show up.
00:02:11.700 And the lifestyle that you've provided
00:02:13.440 for the people around you, for the folks that you love,
00:02:16.060 that depend on you, goes away.
00:02:18.320 I even think about my team.
00:02:19.520 It's like, I don't want the company
00:02:20.980 to be dependent on me to grow.
00:02:22.960 I don't want my team to have to go find new jobs
00:02:25.160 because I didn't set it up right.
00:02:27.080 It's getting to a place where the business
00:02:29.300 will produce revenue, whether you're in it or not.
00:02:32.120 And if you're in it, that's fun.
00:02:34.420 It's additive, it's not required.
00:02:36.600 And that is a beautiful place to get
00:02:38.340 that I want for every entrepreneur
00:02:39.540 because that is a life of unlimited creation
00:02:42.440 that you never have to retire from.
00:02:44.200 Number three is building an empire.
00:02:46.160 Most people think like, I'm gonna work,
00:02:48.340 I'm gonna save money, I'm gonna invest,
00:02:50.300 and eventually I'm gonna retire.
00:02:51.480 Some people set goals, I wanna retire by 35.
00:02:53.780 Others, I wanna retire by 40.
00:02:55.440 Some of them, it's 55.
00:02:56.460 It doesn't matter what it is.
00:02:57.700 Let me share this.
00:02:58.840 Retirement was a concept to get old people
00:03:01.020 out of the workforce to make space
00:03:02.760 for younger people back in the 1920s.
00:03:05.060 I always ask myself this question.
00:03:06.460 What if retiring wasn't an option?
00:03:08.320 Think of that question.
00:03:09.640 If you had to work, what would you change?
00:03:12.540 I'm not saying you have to work nine to five,
00:03:14.560 but wouldn't you wanna wake up every day
00:03:16.280 and collaborate and create with people
00:03:18.220 that you enjoy working with, that you could pour into?
00:03:21.120 You know, recently I went on a vacation
00:03:22.860 with seven other family and 20 kids
00:03:24.860 on a super yacht in Croatia.
00:03:26.460 Every person on that boat are folks that I've either worked with, they're colleagues of mine,
00:03:30.460 or I coach. If that's considered work, sign me up every week of the year. And that's what I want
00:03:36.460 to invite you to consider is that if you had to work for the rest of your life and you wanted to
00:03:41.700 build your version of an empire and you had to never retire, what would you change? What are
00:03:47.560 the priorities? What are the meetings you would stop doing? What are the people you would stop
00:03:52.540 being in business with, where would you spend time? What city would you want to live in? I moved to a
00:03:57.560 place where most people retire to, because why would I have to wait? Why not live in the place
00:04:02.780 where most people retire from and figure out how to change your business life to make that happen?
00:04:06.680 That is my invitation for you. Build an empire. Don't be scared of the word. Tell people,
00:04:12.880 I want to build an empire, because an empire is a life of unlimited creation you never have to retire
00:04:22.540 Thank you.