I spent $1,500,000 on Business Gurus So You Don’t Have To...
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Summary
In this episode, I talk about how I built my business from the ground up with my first investment of $20, a book, a course, and a crash course in marketing. I also talk about the value of being a good person in business and why you should never stop learning.
Transcript
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And I'm gonna share with you everything I learned
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and we'll work our way up to the most expensive.
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My first investment was $20 and it was actually a book.
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And it allowed my business to go from barely breaking even
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to grossing over a million dollars in my business,
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So I was 23 and I'd never read a business book ever.
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I was actually working as a contractor for the government.
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and I saw this book called Love is a Killer App
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And for whatever reason, on that day, in that moment,
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it's not like I hadn't walked into a bookstore before,
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and just figured maybe he knows something I should learn.
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The first one was to acquire knowledge for your customers,
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to actually read books so that you become more valuable
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to the people that you want to help, which is a crazy idea.
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Like I always thought I'll read books for myself,
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but to read a book for somebody else, that was a big idea.
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The second idea was that your network equals your net worth.
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You know, the people, the relationships, who you know,
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the size of problems you can solve through conversations,
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And if you're a person that has a great reputation
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And it's a Harry S. Truman quote that leaders are readers.
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I wake up every day and I read 10 pages of a book,
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All the top billionaires, Charlie Munger, Elon Musk,
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Oprah, Zuck, Gates, they've all attributed their success
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Because if you already knew everything you needed to know
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The fact that somebody spent 25 years of their life
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I think is one of the coolest trades in the world.
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and it was a marketing course by Perry Marshall.
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This course for $100 taught me how to bid on keywords,
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that at the time, I was just trying to get leads.
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I don't know if you have ever struggled with this, but you're just trying to get attention
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and I didn't know what I was doing. I was in my 20s. I had two failed companies and I was trying
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to give it another shot. I was just going out of my way to make sure I didn't fail.
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This course taught me three main things. Number one is how to dominate in my niche,
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to go narrow and then be known for something, but not be bland like everybody else.
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Understanding how people searched for solutions really taught me the psychology of marketing.
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The second thing I learned was the power of using language
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Each one of those kind of talk about the same problem,
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And the third thing is how to stand out as an expert.
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describe their problems better than they can this course allowed me to scale my business from a
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million in revenue to two million plus by narrowing down and focusing on those three things see i
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learned a long time ago that learning doesn't stop in the classroom online education is literally a
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passport to the world anything you want to do with anybody it's available to you see albert
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einstein has a great quote that says education is what remains after you've forgotten what you
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actually learned in school, which I think is a great example of like real world education.
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And Benjamin Franklin has one of my favorite quotes on this, which is an investment in
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knowledge pays the best interest. You will always get an ROI investing in yourself. In buying an
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online course, it could teach you a new skill, a new behavior, a new belief that will let you
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move your dreams and goals forward. Which brings us to the next investment, which was around $5,000
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so I figured going to New York City is pretty close.
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These are the three things that I took away from that event
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Before I go to bed, I dump everything into my journal.
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So you wanna take everything that's going on in your life,
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just make the decision move it on get it out of the follow-up the third thing is the power of the
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mind see david made us do this exercise at the end of the event where we held a string with a
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paper clip at the bottom and we actually practice with our mind focusing on that paper clip to move
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it to the left to move it to the right to have it move in circles and even though hearing this you
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might think that's really woo dan like i don't believe that maybe or it for me it opened me up
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to the ideas. Maybe my mind was a lot more powerful. Maybe my thoughts and my focus had the
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ability to create energy around me. And that was a big unlock for me at an impressionable time in
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my life. I was in my mid twenties. So those three things of dumping my mind, two minute hack, and
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the power of my mind really unlocked another level of productivity and effectiveness in my life that
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I wouldn't otherwise got if I didn't invest in events. What brings us to the next investment,
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which is around $36,000 for a three-year seminar
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which I go over in my top 10 most important books
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And what's cool about that book is that at the time
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And at that event, they talked about education and mindset
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from achieving more and they presented an opportunity to invest in a three-year education
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and what was special about this event and why i decided to do this is they had the ability that
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if you invested in one person you could bring a family member for free so i decided to do this
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three-year seminar event with my brother and it ended up being one of the most coolest experiences
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to invest in personal development not only myself but to do it with a family member and to do it
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with one of my best friends in the world, my brother, Pierre.
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we traveled around going all these different seminars
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to learn from arguably some of the best in the world
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at different topics, on mindset, on investments,
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And it was a masterclass in so many different things,
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and having a process for reevaluating it every year
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that if I didn't go bankrupt, I wasn't successful.
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you know how crazy that is how much pain that would have created that got wiped out through
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this process number two is just financial education in general being around other people
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that were invested in their education in betterment in self-improvement it made me realize
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that there was this huge gap around financial education that i just didn't have i didn't
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understand how profit and loss statements were created or cash flow statements or all this other
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business stuff that i needed to learn to build the muscle so that i could actually get really
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good at long-term planning understanding how to make a budget figuring out what are the expenses
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that are normal what are things that are variable versus fixed expenses being able to create a
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forecast so that i can understand when i was going to run out of money and what level of income do i
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need to generate to be able to go after growth because growth costs money to invest in a business
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that financial education was invaluable because allowed me to avoid oftentimes what's expensive
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is not the loss of money it's not executing or implementing opportunities where you can make a
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lot of money so it's ignorance taxed by not knowing what you could have done with the resources you
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had that's the biggest part of financial education i didn't understand and then the third thing is the
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law of attraction the idea of focusing on what you want to achieve see most people go through life
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looking for stuff they don't want and then they get surprised why they keep attracting the stuff
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that they don't want whereas if you can stay in an abundance mindset to create more to become more
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to get your radar focus on opportunities that are all around you to become more resourceful the law
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of attraction isn't about doing nothing and just pretending like you know beautiful pictures are
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going to bring great things into your life the law of attraction is the law of goya get off your ass
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it's not about sitting around hoping that things are just going to magically turn around but it's
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the belief that it's available to you if you do the work these three things allowed me to change
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my mindset specifically around money and honestly eventually exit my first software company at 28
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making me a cash millionaire which brings us to my next investment which was around 30 000 a year
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and it was a group coaching program by a guy named taki more see taki is one of the coolest dudes
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around he literally measures his life by the amount of days he doesn't have to wear shoes and
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Then I first heard about him at an event called MMT,
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but there was just something about the business model
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There was just so many things where I almost decided
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to look at coaching and building a coaching company.
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The first thing I learned was the business of coaching.
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It's a lot of fun being paid to ask for your advice
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and giving advice and seeing people get results.
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but the answers and the strategies are all the same.
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If anybody's ever tried to sit down and create a course or write a book or teach anything,
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give a talk, what most people make the mistake is they try to put everything into it, right?
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Their talk that's supposed to be 30 minutes ends up being an hour and a half.
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Their book, which should have been, you know, 30,000 words ends up being over 100,000 words.
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What Taki taught me was how to take the content, break it up into its individual value pieces,
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create a model, a framework around it, teach it and make it digestible
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because I knew every time I created a new building block,
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The third thing was how to run world-class events.
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I mean everything from webinars to online events
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He is the master at orchestrations, choreography,
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understanding how to open an event and set the frame
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to how to finish it off to lock in the learnings.
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Understanding how to deliver transformative content
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These three things helped me scale SaaS Academy,
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to over 10 million in annual revenue within five years.
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is like distilling 25 years of experience into one year.
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and it was a mastermind with other incredible entrepreneurs,
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And it's where I met 90% of my current friends.
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It's a big reason that I live in the city I live in.
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Just a few things that actually shifted everything for me
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people that had McLarens who told me how incredible they are,
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to buy a supercar, to enjoy driving, which I love.
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Would not have happened if I didn't meet these people
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The second one is I became a better dad to my kids.
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When I think of the incredible fathers and parents
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that I met at Mastermind Talk, guys like Jim Shields,
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Philip McKernan, who transformed everything for me.
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so that I could be a better husband to my wife,
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so that my kids could learn how to fish themselves.
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Because I mean, anybody's created wealth in their life,
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the last thing they wanna do is raise entitled kids.
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Being around people like that, Jim and Phillip,
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taught me just a better way to live and to be a better dad.
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if I didn't meet the people I met at Mastermind Talks.
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Guys like Joey Coleman, who's an incredible author,
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and I was going through evaluating different agents
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of some of the value I got out of Mastermind Talks.
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Masterminds provide you with accountability, with insights.
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They surround you with people that are gonna go further
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The biggest thing is you have diversity of thought, right?
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but because they're all working on different things
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at different times, when you come back together
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To even be considered to be part of this group,
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you have to be somebody who's obviously accomplished
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and it's all designed to support the charitable work
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Here's why this investment was so important to me.
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I actually invested in the program more recently
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And I had learned so much by just being around him
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that when I heard there was this thing called legacy,
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I didn't want to impose, but I did ask about it.
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But I want to share with you the three big things
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that I took away by spending two days with him in Orlando
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that made me realize the value of being around somebody
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in my thought leadership, in my content creation,
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my speaking that is the value of just paying to be in a group of people that are literally
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executing at the top of their game so this is what i learned watching john and being around
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his team number one is he's got a rainmaker this is literally somebody that takes all requests
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for john's time opportunities etc that they just look at what's going on what the person wants what
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the opportunity looks like and they just they monetize john's personal brand it's the easiest
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way to think about it is everybody wants john's time somebody else is responsible for analyzing
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or viewing opportunities and deciding what makes sense and then letting the person know what the
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investment is going to look like that idea of a rainmaker which i do not have in my life yet is
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going to change everything because right now i'm playing the gatekeeper it'd be a lot easier for
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somebody else to be accountable for it for follow-up for understanding working with my assistant
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on my calendar. So that was a huge lesson learned. The second one is tying every business initiative
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to a charitable cause like this legacy program. It was once I saw it, it made me realize how
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silly I've been playing. Like I get groups of people together. I have massive groups. I have
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tons of clients that I've worked with, have people that have invested to learn from me.
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And nowhere's in that process. Have I ever tied that work with the charities I'm involved in?
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and it is a meaningful part of my life working with troubled youth and i always kept them separate
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and i realized i was doing a disservice to everybody involved the people that believed in
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me wanted to learn from me and invest in my programs and coaching and then the organizations
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that needed my support when i had access to so many more people that would support those projects
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if i just brought them together so watching john do that was incredible then the third thing was
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how to buy back my time when it comes to written content i watched john travel with somebody
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dedicated to listening what he says pulling the nuggets out of his content and writing it down
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to then go work with his writing team to produce the books he's written 90 books he's at a pace
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right now where if he wanted to he could easily publish a book pretty much every six months
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and it is all enabled by a key person that is a creative writer that travels with john
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listens to john and pulls out all the golden nuggets the way he says it is there's writers
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that speak and there's speakers that write and he says i am a speaker that writes he says dan
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watching your content i think you're a speaker that writes and he's not wrong so being able to
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have somebody dedicated to listening to everything i do which i already have but pulling out and
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extracting those insights putting them into paper or in a digital format and then working with a
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writing team to produce more books i think is just a no-brainer which brings us to the next
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investment which is around 350 000 a year and is for my private coaches you know i've had multiple
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people that i've invested multi-six figures to work with privately to get access to their brains
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their experience their strategies right and many some of them their networks at the end of the day
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So it was around this time last year that I asked myself,
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what does going pro mean for me over the next 10 years?
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but it occurred to me that everything I wanted to achieve
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was on the other side of my personal reputation
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So I hired somebody that had the experience in the history.
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He's literally one of the best of the best in media, in communication, in energy, honestly,
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And I just wanted somebody that could teach me the strategy and the sequencing of executing
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So working with this coach taught me three really important strategies that I think could
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Now you've heard me talk about this, vision boards, all that fun stuff.
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he shared with me that when you're visualizing most people just look through first person as if
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you're driving in a car or walking into this beautiful home or you know stepping on stage in
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front of 10 000 people but the real power comes from changing angles listening to it in reverse
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going forward looking at the nuance behind it going from color to black and white asking yourself
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what are the smells what do you hear how do you feel in those moments to really make it 4d see
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See, most people are looking at it in 2D, 3D is better,
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And that visualization allows you to anchor that feeling
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See, most people, the outcomes they wanna achieve,
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it feels so foreign that it doesn't feel normal
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So the idea of visualization at that level was huge.
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It could be hiring somebody, it could be negotiating an exit, it could be speaking on stage.
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The most important skill is to pull your vocabulary, being able to connect the story to the message,
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being able to find the right word to communicate a lesson.
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And working with my coach, he taught me different brain training exercises,
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different states, different breathing patterns, how to get my heart coherence in place
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so that when I was creating content, when I was looking for the right vocabulary,
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Larry, I was anchored in the state I needed to be
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to be able to share and communicate in real time,
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just like I'm doing right now, which is crazy to me.
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And the third thing is belief to go to the top.
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There's nothing more powerful than having somebody else
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believe in you way bigger than you believe in yourself and when you're sharing your goals and
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your dreams and your aspirations with somebody and they go oh you should just call this person
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oh you should just talk to this person oh you should be on this person's podcast oh you should
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speak at this guy's event and these are literally the world's top stages top people top podcast and
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they say it in such nonchalant matter of fact type language it makes you really wonder like
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but more importantly, a coach who's been there,
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by having a coach who'd already seen it happen,
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did it themselves and could introduce me to the right people to make it happen in my life
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that's what i learned from spending over 1.5 million dollars on business gurus now if you
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want to learn how to build a million dollar business over the next 60 days click the link