Dan Martell - Millionaire Investor Explains How to Make $1,000,000 If You’re Broke

00:00:00.000 You're starting from scratch at zero. How do you make your first million?

00:00:03.980 If I was today going to make my first million bucks, a lot of people would say I'd go build

00:00:08.640 my own social media. I wouldn't do that from scratch. If you guys saw the ad revenue on

00:00:12.260 YouTube, you'd be like, no, you wouldn't. Yes, I could go start from zero, get my first couple

00:00:17.240 thousand dollars and work my way up, or I could leverage. So the best thing that you can do is

00:00:22.000 get in proximity. Most people have read like Tim Ferriss's four hour work week. And I feel like

00:00:27.040 this is that book now on steroids when you went and wrote this what was the one piece of this

00:00:31.760 book that you thought why doesn't anybody do it this way it's not what everybody would want to

00:00:36.960 learn it's kind of the chocolate broccoli like people i wrote that book that way because i knew

00:00:41.120 it would get people to start the book but the broccoli is actually like towards the back part

00:00:45.360 of it and it's transformational leadership so like most people that run companies don't realize that

00:00:51.600 they are actually a little insane. Right, Cody? No, not at all. Not over here. We are nutty. And

00:00:58.980 I mean, we have to be because we're deciding to do stuff that very few people do, right? Which

00:01:02.640 is start companies, buy companies, which is if everybody did it, it wouldn't be abnormal or

00:01:06.980 extra. So transformational leadership is a simple concept that when you have people that report to

00:01:12.980 you, okay, there's two ways to do it. You can do transactional leadership or transformational.

00:01:16.820 Most people, if you've never been taught any different, it sounds super logical

00:01:20.400 that you do transactional leadership,

00:01:22.480 which is you hire somebody, you tell them what to do,

00:01:25.080 you check that they got done,

00:01:26.260 and you tell them what to do next.

00:01:28.080 Most of us have experienced this in our work capacity.

00:01:30.540 This is how we've always done it,

00:01:32.660 and it sounds super normal.

00:01:33.800 The problem with that is that as you hire more people,

00:01:37.280 and it usually happens around a dozen folks on your team,

00:01:40.360 direct reports, where you'll wake up in the morning

00:01:42.500 with all the motivation to get a bunch of stuff done,

00:01:45.500 and then you check your inbox,

00:01:47.100 and then you realize this person's working on the wrong thing,

00:01:49.200 And then, oh, what about this new person we just hired?

00:01:50.980 Are they being trained?

00:01:51.820 And you literally spend the whole day doing a tell, check, next loop

00:01:56.040 to only find out that after you had dinner and you put the kids to bed

00:01:59.420 that none of the projects you touched ever got done.

00:02:01.720 So then you work from 7 o'clock to 11 o'clock at night

00:02:04.620 trying to actually get your own work done.

00:02:06.100 And that's where you hit essentially what I call the pain line,

00:02:09.040 where anything more that you want to do in your life becomes really painful.

00:02:13.220 So you might be sitting with an opportunity, sitting there,

00:02:15.240 like I could go do this, but I can't do anything more

00:02:17.380 because I'm stuck in this transactional leadership.

00:02:19.200 style versus transformational which is number one it's outcome focus so I don't tell anybody on my

00:02:26.920 team what to do I tell them what it looks like when it is done at the highest level and my team's

00:02:32.680 here you can talk to them this is just how I am and sometimes they'll pull me into that like what

00:02:37.040 do you think I should do and I literally act like a six-year-old I go I don't know

00:02:42.720 Anne's laughing because I do it a lot but literally it's like I was like what do you

00:02:48.180 want to do and they're like but I I'm asking you I know but I don't know of course you know

00:02:54.760 pretend like I don't if I wasn't here what would you do well I'd probably hit the internet or I'd

00:03:00.640 probably call this person I said that sounds like a great idea so I focus on outcome then I go to

00:03:06.400 measure which is what's the what is the numbers that we're going to agree upon means you're making

00:03:12.420 progress so if I said we're going to take that mountain I might say well let's measure the daily

00:03:16.740 elevation gain per per day right and every day if you text me how many feet of elevation you made

00:03:22.020 then as long as you're moving upwards we're good but if all of a sudden you report back a negative

00:03:26.660 i'd be like did you fall off a cliff you know or did you take a wrong turn and then they'd be like

00:03:32.580 yeah i got lost it's like cool what could you do not to be lost i don't know you tell me i don't

00:03:38.240 know what you know what i mean get it outcome so we're going to the mountaintop that's the outcome

00:03:42.180 measure every day and they might come back with ideas like I should probably get a map that sounds

00:03:47.480 like a great idea where could you get a map I don't know map store maybe somebody else has you

00:03:51.340 know been up this mountain okay good good go find that out and then what I do the third part is coach

00:03:56.320 right and coach is what's funny for a lot of us to have communities like we do we actually do this

00:04:01.680 naturally or maybe you've been a coach like a real like you know athletic coach you use those

00:04:06.780 same principle. So I don't tell people what to do. I talk about principles, right? Sorry, guys.

00:04:12.000 I talk about the principle that is missing. So if I see somebody do something they shouldn't have

00:04:16.380 done, I'll just write it down. And then in our one-on-ones, I'll be like, they'll be like,

00:04:21.520 what's on your list? Because that's one of the prompts. And then I go to my list and I say,

00:04:24.440 ooh, last Tuesday, I saw you post this in Slack. And I just want to ask you, like, did you feel

00:04:29.640 that was clear or a little unclear? Well, it's clearly unclear because 17 people were very

00:04:33.520 confused and i caused this whole thread of you know people going left right and all over the

00:04:38.360 place okay cool i would agree let me tell you about this principle about clear communication

00:04:42.940 that's probably my wife calling me back because i did this to her earlier it is

00:04:47.000 and she'll call me again she's in my vip list it always rings through it's a smart happy wife happy

00:04:54.340 i know but she i did it to her earlier and she kept hanging out like i'm doing and then i kept

00:04:58.980 calling her. So she might, she might do it again. I know. And she was probably recording a podcast

00:05:04.440 and she was loving me at the time. That's amazing. So, so then we do, um, the coaching. So it's

00:05:11.340 always principle, not activity. So I never attacked the activity. I talked about the principle. So the

00:05:16.220 principle is into clear communication. Here's the way I learned this. One time I remember I jumped

00:05:20.300 into a meeting, I didn't have context and I said something, I wasn't clear. Next thing I turned

00:05:23.860 around and it was a $26,000 mistake. So I've learned in the future, sometimes it's better

00:05:28.540 to slow down to measure twice cut once see and then at the end this is the third part of the

00:05:33.260 coaching is you ask them based on the story i just shared with you what did you take away from that

00:05:36.740 so notice i didn't i didn't tell them anything i i created a methodology for evolving my people

00:05:44.420 and my whole philosophy and big thing in the book and that's why it's a productivity book but it's

00:05:48.080 also a leadership book is you build the people the people build the business define clear

00:05:53.780 communication. I think everybody thinks they're clear and then everyone else does not. Very

00:05:59.140 simple. These three words, D-O-D, definition of done. Definition of done, right? You buy a piece

00:06:06.600 of real estate, you have a vision for what that looks like to the degree that you can describe

00:06:11.280 exactly what that looks like completed, done, like really go there. See, most people, we never taught

00:06:16.340 how to do this. What is the definition of done? If I buy an old house and I hire somebody to

00:06:20.340 manage renovating it. What does that look like? Well, one, there's a date. There's an experience.

00:06:26.420 See, I'm not talking about the colors of the wall. I'm talking about like on this date,

00:06:30.680 I will drive into this yard and I will open the door and all my stuff's going to be here. And I'm

00:06:36.620 moving into this house with my family and we're going to have a party the day after and everything's

00:06:40.620 going to be catered. And like I'm describing the outcome and the experience. And I think that most

00:06:45.500 people never ask themselves, like, what is the definition of done? I'm a software guy. So it

00:06:49.360 actually comes from agile programming. It's a software concept. And I think every time I'm

00:06:56.020 trying to ask somebody to support me in anything, I always go to a definition of done, which is the

00:06:59.540 outcome concept. Right. But I think DOD is, is kind of what I would tell people to think about.

00:07:04.620 I really, really like it. We use the Braun method. So basically just who, what, when, where, how,

00:07:08.820 and why, and we leave the how to them. And I think a lot of the reason that that helps is,

00:07:13.260 you know, the other day we were talking about it and we're like, well, if you don't know who this

00:07:17.140 is for, then a financial projection sheet that is for you or I, who run a bunch of holding

00:07:23.180 companies, is going to look a lot different than financial projection that my admin needs

00:07:28.780 to see a budget for an event.

00:07:30.400 Those are two very different things.

00:07:33.060 And so I think I stole it from journalism because the Braun method is what you use in

00:07:37.700 journalism.

00:07:38.120 You can't really write a story unless you have who, what, how, when, where, and why.

00:07:40.980 And it's really the same thing when you define communication and scope projects.

00:07:44.120 So I really, I liked that from your book.

00:07:46.100 The other thing that I really liked from your book

00:07:47.880 is you talk about focus versus ADHD a little bit

00:07:52.760 in your content and in your book.

00:07:54.400 Can you talk a little bit about,

00:07:55.960 like, do we really have this ADHD epidemic

00:07:58.860 or is a lot of this just our focus?

00:08:01.920 You're gonna get me in trouble.

00:08:05.280 So a few things.

00:08:06.320 I think I have a problem with labels

00:08:09.940 of anybody up for anything.

00:08:11.420 I think we're all beautiful expressions

00:08:12.880 of our unique experienced souls, all that stuff.

00:08:15.620 I have, I'm zero label for, if, if doctors need it to like describe a person to each other,

00:08:22.800 then keep it for yourselves. Like, like anytime anybody's tried to label me or my kids or my

00:08:28.080 friends anyway, I'm like, Hey, it's a weird thing. Cause there's nothing wrong with you.

00:08:33.260 Right. You have a default. So like a lot of people that have ADD or ADHD, I was diagnosed

00:08:38.140 when I was 11 diagnosed, right. Put on Ritalin, told I was special and broken, all this turns

00:08:44.080 Turns out they just didn't know where to point me, right?

00:08:47.320 If this was 300 years ago,

00:08:49.720 we'd call me an evolutionary hunter.

00:08:52.920 That's what I am.

00:08:54.060 Like, if this was 300 years ago,

00:08:56.520 you'd want one of me in your tribe.

00:08:58.900 Cause I'm the guy that's gonna go out in the woods

00:09:00.800 and I'm gonna bring back the food

00:09:02.360 and then you guys can all eat.

00:09:03.540 See, we went to this like agricultural farming society

00:09:06.440 where now we all have to sit in these chairs

00:09:08.540 and learn and study and show up

00:09:10.200 and everybody do the same thing in the right order.

00:09:13.180 or you're an issue.

00:09:15.580 So anyways, I think it regards,

00:09:19.140 is this in regards to the chaos side of things,

00:09:20.940 of just like how you show up at your work?

00:09:23.160 So what happens is because a lot of us,

00:09:25.380 I can only speak from my experience,

00:09:27.960 because I grew up in like chaos and ADHD

00:09:31.160 and just like that's where I thrive,

00:09:33.400 unfortunately when things go good in your business,

00:09:37.520 if you have this problem, you will throw hand grenades

00:09:40.180 and create problems in your business.

00:09:42.900 When things are actually starting and you're creating durable revenue and it's predictable

00:09:46.400 and it's like, okay, yay, you'll be like, we're changing the website, adding a new product.

00:09:51.560 I just hired, I bought a new company.

00:09:53.540 There's 14 other people there.

00:09:54.780 They're going to, and the team's like, what are you doing?

00:09:57.700 Why?

00:09:58.160 Because that chaos is actually incredibly normal for us.

00:10:01.480 And what we've learned to do, and it's our superpower, is deal with a large amounts of

00:10:06.420 uncertainty and still move forward.

00:10:08.120 So when things are certain, it feels awkward.

00:10:10.740 and we all have an emotional home that we want to get back to even if it doesn't look positive

00:10:16.200 it's still familiar so for me i always think about like is this strategically the right decision or

00:10:23.300 am i throwing a massive hand grenade in my business to give me ground cover to then go

00:10:28.140 have a problem to solve because that feels good i'm sure nobody in here can relate to any of us

00:10:33.720 one thing that i like about you too we talk a lot about power of place

00:10:38.980 and how, you know, it really can be beneficial or can be detrimental what you surround your

00:10:44.420 work environment with. You're very particular about your work environment. Very intentional.

00:10:48.120 Can you talk a little bit about what's on the walls, how you structure things and why? And I

00:10:52.480 like also how you do it in a way that it's not that it's expensive or fancy, although you can

00:10:56.520 afford that. It's just very intentional. Yeah, I think it's evolved and I continue to evolve it.

00:11:02.320 Like we just got a new studio, started a company called Martell Media, very inspired by Cody and

00:11:08.880 our friends like at the end of the day it occurred to me that everything that I want to achieve in

00:11:14.640 life accelerates on the other side of reach and reputation so we got this new studio space and I

00:11:20.680 started building the team and I would say because that's probably the most recent company that I've

00:11:24.440 kind of like like kind of built out first off it's the people like I have a zero space for anybody

00:11:33.240 that I don't vibe with it doesn't mean that we have to share the same preferences and watch the

00:11:38.260 same shows or any of that or even look the same none of that if you don't hold a high standard

00:11:42.560 if you don't have a desire to create something magical if you don't want to go on a journey of

00:11:46.240 building something that may have never been built before this is not the room for you and i'm not

00:11:50.580 upset about it i get mad at myself when they accidentally get in we had one recently this is

00:11:55.380 so funny i feel bad for ann was ann's assistant and she resigned and we're like whoa that's weird

00:12:01.160 because if you read my book six chapter test first hiring method very structured i mean to get on the

00:12:05.700 team is a gauntlet and she resigned and i was like that's weird so i reached out to her and i did a

00:12:10.740 clearing conversation with her and she she goes i'll be honest with you dan she was from south

00:12:16.260 africa she goes i've never been on a team where somebody swore oh and i'm like oh how did this

00:12:28.820 how did this happen like where did we mess up when we were recruiting where you were not aware i

00:12:33.940 I thought you didn't, did you watch my content?

00:12:35.820 Like, did you think of Googling me or something?

00:12:38.440 I think that to the degree that you can be just really honest with yourself,

00:12:42.440 and this is the thing, it comes down to you giving yourself permission

00:12:45.640 to deciding what is a 10 out of 10

00:12:48.540 and not coming down to a six or a seven.

00:12:52.080 Because that's what happens.

00:12:52.820 You know, if I asked you, like, what would it look like

00:12:55.280 to enjoy going to work, to own a business, to really appreciate it,

00:12:59.400 you would say, well, I want to surround myself with these kind of people.

00:13:01.720 So it's always people first.

00:13:02.800 So I start with the people, that's first and foremost.

00:13:05.400 Then I look at like the flow and the structure.

00:13:09.300 So I don't believe we manage time,

00:13:10.560 I believe we manage energy.

00:13:12.560 That's a big concept in my book, okay?

00:13:14.700 Because I don't know about you,

00:13:15.520 but when I went to math class, it felt like three hours.

00:13:17.960 When I went to art class, it felt like seven minutes.

00:13:20.960 See what I'm saying?

00:13:21.840 So we manage the energy that we experience

00:13:25.020 in that space, that time.

00:13:27.080 So everything I do, and it's very intentional

00:13:29.660 in regards to just even transition points,

00:13:31.560 when i travel here i've got the team and it's just like we're very intentional about like

00:13:35.380 what's dan's energy level going to be at different parts of the day so some people are like how do

00:13:40.540 you do so much and keep the energy going it's like oh well i i do this kind of work in the

00:13:44.800 morning this kind of work after lunch this kind of work towards the end of the day and i and i

00:13:48.280 save these things for these and they're like oh oh that makes sense and i'm like yeah even the

00:13:54.140 space of like how the studio is designed and you come in and there's like these literally where we

00:13:59.700 put we have a gym in the studio we have like a play area has anybody played the new spider-man

00:14:04.860 on a ps5 anybody am i the only one with kids okay good it is like it's like playing a movie

00:14:15.120 you're like playing this thing so anyways even the where we put that and then had the studio set up

00:14:20.620 in my in my office it's just you know the words we put on the wall everything is you know it says

00:14:26.320 prioritize the pump it says sweat every day so like i'm very intentional about the words like if

00:14:31.900 you talk with me and i hear you say a word that is disempowering i will invite you to consider a

00:14:38.400 different one right how would that conversation go oh you like let's talk about let's say like i go

00:14:44.220 well it's just like we didn't have enough time to do it the way that i wanted to do it really

00:14:48.420 Cody you decided not to make enough time maybe there we go yeah so playful fun Sam will say that

00:14:58.540 that would be cool when that happens it will be cool if there's no yeah so it's just words mean

00:15:05.340 things to you words mean things matter set intention at the end of the day we don't get

00:15:09.840 what we want we get what we expect think about that you will never get a penny more than you

00:15:15.980 expect to earn you think you deserve never i don't care fucking b hags and big hair like

00:15:22.540 10 million dollars i don't care do you believe that that's you because the problem is is you'll

00:15:28.500 just act differently if you expect it here's how i know like just check this out tomorrow morning

00:15:33.260 you go into your bank accounts whatever banks you use i'm canadian so like you know chase or

00:15:37.560 whatever it is in the u.s and you log in and the number you thought to see is half do you change

00:15:44.860 the rest of your day?

00:15:45.700 Do you, the energy you bring

00:15:47.440 to the rest of your day, yes?

00:15:50.520 Why don't you act like that today?

00:15:53.660 Think about that.

00:15:54.920 Why don't you act like that today

00:15:56.780 when you stand on the scale

00:15:58.380 and you look down and it's like,

00:15:59.480 no, that's cool.

00:16:00.460 No, no, no.

00:16:01.160 Are you really in the best,

00:16:02.480 like, are you where you want to be?

00:16:04.100 What would that number should be?

00:16:05.540 Act as if you put on 20 pounds.

00:16:07.260 Act as if the bank account dropped 50%.

00:16:09.240 Because like, I think that

00:16:10.640 that expectation is actually

00:16:13.640 what drives the right behavior because too often that identity of what we think we're worth is

00:16:19.560 actually the issue. It's really good. So you run Ironmans and marathons and I think you were

00:16:27.540 skiing this weekend with a bunch of people. Yeah, hello skiing. Yeah, exactly. So obviously you're

00:16:34.360 playing a lot while you're working too. Yeah. Talk about how you started to prioritize

00:16:41.400 correctly because for a lot of people who are new at this what i hear most often is i don't have time

00:16:47.060 for x i feel overwhelmed by why yeah i never hear those words from you why and how do you

00:16:54.120 prioritize properly yeah i mean it's easy to look at my life and look at cody and i and go yeah but

00:16:59.200 you guys are rich like i'm not an idiot i i was at one point in a room just like this listening

00:17:04.820 and the two rich people on stage talk about their fucking life,

00:17:07.520 and you're like, shut up.

00:17:08.800 Like, I'm very self-aware.

00:17:14.100 But I think that, you know, there's two parts to your question.

00:17:17.980 The one is when I do this, I feel overwhelmed.

00:17:20.740 I totally agree, and it's your experience.

00:17:22.680 The cool part is you decide.

00:17:26.420 So guess what?

00:17:27.840 You can be overwhelmed, and you may be overwhelmed.

00:17:30.320 And I don't discredit, and I'm not going to take away

00:17:32.620 that that's exactly how you feel.

00:17:33.900 but if you actually stayed in that feeling and you were willing to explore it a little bit you

00:17:39.240 could if you were open to it get to a place where in that same activity you're no longer overwhelmed

00:17:44.540 overwhelm this country it's a funny thing because it's all about the meaning that we associate to

00:17:50.100 the activity so here's a cool idea i'm gonna really you guys are like who is this guy

00:17:55.660 you don't control your first thought

00:17:58.480 you don't control it it's given to you from wherever call it the universal mind god

00:18:05.140 consciousness it's just there but you do control your second thought and the second thought in

00:18:11.100 that space between the first one that is a gift and the second one how you respond that's the

00:18:15.340 feeling so if you're overwhelmed yes you are do you have to be no you don't and if you just even

00:18:21.200 think of the frame alex hermosi taught me this this like thousand expert frame so like whatever's

00:18:26.380 overwhelming you imagine you did this thing a thousand times honestly by the hundredth time

00:18:32.000 500th time the thousandth it's just you just do it don't even think about it so when people see

00:18:36.700 my life today and they go how do you do all that i go oh but this is capacity expanded at the

00:18:42.280 extremities and the first time i might have felt overwhelmed but then i got easier and easier and

00:18:47.240 now it's just i don't even think about it so that's on the feeling side in regards to the time

00:18:52.200 side what I do and I teach in the book preloaded year the perfect week these two frameworks is

00:18:58.280 I'm very intentional about reflecting so every like quarter and then you know every year I look

00:19:06.340 back at what I did because everything's in my calendar right and it's kind of color-coded but

00:19:10.100 not really but we can just evaluate it and I just ask myself simple questions like was that a

00:19:14.520 was that the right use of my my quarter right use of my year when I look at the stuff I said yes to

00:19:20.360 Was that like Charleston?

00:19:22.160 For me, that was a hell yeah.

00:19:23.440 That was a great time.

00:19:24.900 So yes, maybe I do that again.

00:19:27.200 Or the ski trip.

00:19:28.460 Do I want to do that again?

00:19:29.620 And then when I look at it, and I look at it over a year,

00:19:31.880 I have this one-page template because, and my wife and I do this,

00:19:36.020 we each individually look at work-wise and then our family,

00:19:39.420 and we just go like, was that too much or too little?

00:19:41.540 Okay, I'll give you a simple example.

00:19:43.300 I used to go on vacation before my events.

00:19:46.420 Now, as I say this out loud, all of you probably go, that's dumb.

00:19:49.980 why why would you go on vacation the week before you have a major event i don't know if you guys

00:19:56.960 have ever run an event uh the seven days prior there's zero on your brain other than did this

00:20:02.960 like like so i would go on vacation with the family and they'd be talking to me and it's like

00:20:08.220 i'm not there and i'm like checking my phone did you guys remember to get the badges change

00:20:13.200 the color you know what i mean so now all we did when we looked at the year i said okay instead

00:20:18.720 of doing the vacation here right after oh wow what a change all of a sudden now i deliver for

00:20:25.480 my clients and then i go on vacation everybody's cups full and i can disconnect without guilt etc

00:20:31.580 so it's just i'm really good at that retro and being intentional about my time and then also

00:20:38.220 just evaluating the different aspects of my life that i feel i need to feel like fulfilled i don't

00:20:43.540 even believe in the word happiness per se i think it's a moment it fleets but fulfilled have i

00:20:47.260 design my life in a way where I've had like all aspects of like my relationship and my my

00:20:52.500 friendships and like the ski trip you mentioned I've been doing that for 10 years and it is three

00:20:57.240 days it's a magical three days 48 of like some of my favorite entrepreneurial friends in the back

00:21:02.480 country going down steep and deep powder we'll probably do it until till we don't we're just

00:21:08.880 it's just the best thing so like again every year we just we're very intentional so the way I think

00:21:13.840 about it is anytime I have a conversation with somebody, I'm trying to do two things. One,

00:21:18.580 I'm genuinely curious about their situation. See, some people that are nervous about talking to

00:21:23.140 other people, the problem is, is they think they got to talk. Shut the f*** out. Don't say anything.

00:21:31.480 It's so funny. They're like so nervous that they say nothing. When I'm like, you don't have to talk,

00:21:35.920 you just have to ask a question. They're like, this literally, this guy came to my house one

00:21:39.460 day and he was nervous. And I was like, dude, I can feel your, he's like, well, I've been following

00:21:43.120 you for five years and I don't know what to say. I go, you don't have to say anything, just ask me

00:21:46.740 a question. He's like, what? Anything. So here's the deal. When you meet somebody new, and you can

00:21:53.580 just write them down, have some canned questions. Like, I'm just curious, how did you get into that

00:21:57.080 business? How long have you been doing it? What do you like best? Cody, what do you like best about

00:22:00.480 running this incredible empire building? And let them talk. And then so what happens is, I look for

00:22:07.720 two things. I look for one, something that they're doing that could be helpful to me.

00:22:12.680 And two, something that they're, they're, they're going to do or struggling with that is actually

00:22:17.860 my genius. So, and I didn't even know I was doing this until somebody asked me about three weeks

00:22:23.020 ago, this exact same question. And I was like, Oh, actually I'd probably do this. So here's what

00:22:27.940 I do. I ask the questions, but I'm generally curious. Like I do, I do love people. So I'm

00:22:32.600 like, how do you do this? You know? Well, how did you solve that problem? Oh, we're doing this.

00:22:36.440 like the media stuff, the YouTube,

00:22:38.120 do you guys monetize that?

00:22:39.720 Oh geez, we don't do that.

00:22:41.740 Okay, so there's my thing, how do you guys monetize?

00:22:43.760 I need to know that, oh we gotta turn that thing on,

00:22:45.320 I don't know how to do that, okay.

00:22:46.960 So I got the thing I need, then I try to figure out,

00:22:49.420 okay, what are they building into the future?

00:22:51.200 See, most people discount their value.

00:22:55.800 They literally go, why would this person want to talk to me?

00:22:58.220 I have nothing to add to their life.

00:23:00.340 That is the silliest thing ever.

00:23:02.480 Every person has something, and guess what,

00:23:05.620 your thing could be that you listen with a kind heart and that is awesome because I will tell you

00:23:12.580 as Cody knows in this world of business sometimes that person ain't a kind person so if you all you

00:23:17.400 do is listen with kind heart that is actually valuable and you can offer that so then but let's

00:23:21.920 say it's a real thing like you know you're good at marketing or whatever and you're like oh you

00:23:26.500 know how are you guys marketing your business and they're like well we're thinking of starting

00:23:28.980 Facebook ads and you're like I'm a Facebook ad expert then then I go to the next part which is

00:23:33.100 I offer to be helpful and I might say something like well that's cool the thing you're doing with

00:23:39.040 your sales motion there we've been thinking of doing we haven't done it and you know like the

00:23:43.080 Facebook ads or the SaaS stuff like I think I'd probably do I was like you know anytime you need

00:23:47.200 me love to do that but if you want let's schedule a 30 minute call and on that call we can do the

00:23:51.480 first 15 minutes where I help you and I'll show you and this is the kicker again I don't remember

00:23:56.140 I do this but like this is how it's a 10 out of 10 show them everything show them like literally

00:24:02.520 show them here's our p&l here's our dashboard here's my ad sets here's my thing like whatever

00:24:08.160 you can help them show them here's why because if you do that for them guess what happens when

00:24:13.860 it's now your turn to receive the information from them they're going to be like well let me

00:24:18.220 just show you our crm it's so funny when i'm lit people like i could help you and then i get on

00:24:22.940 call and they're like what are you dealing with and i tell them they're like oh you could do this

00:24:25.660 this and this i go no what are you doing show me or they ask for advice from a mentor and then

00:24:32.500 they get on a call with the mentor and they don't even tell them what their business is doing how

00:24:36.560 much profit they have their team size I literally tell friends of mine that want a mentor when they

00:24:40.880 get on that call you have to disclose everything because in that moment you separated yourself from

00:24:46.240 everybody else because you're honest and truthful and they can feel that that I'm just here to like

00:24:51.480 try to win and it doesn't matter I'm not ashamed of where I'm at I'm starting here but I have an

00:24:56.500 aspiration to go more and those 30 minute phone calls I probably and knows we'd probably do two

00:25:00.900 or three a week. And that's just my way as I meet people that I want to be helpful to and learn from

00:25:05.780 that it's really cool. They're short meetings, super valuable, and then we can figure out what's

00:25:10.100 next. It's huge. The other thing that I've found too on the same vein is I really think that

00:25:16.100 there's some sort of magical, there's some sort of magical action you can take when you meet

00:25:21.020 somebody who you might have a slight different power differential with. So let's say, for instance,

00:25:25.540 um you know i met the one of the presidential candidates vivek ramaswamy and he's a presidential

00:25:31.980 candidate plus i think he's worth a couple billion bucks i'm neither of those things yet and so when

00:25:37.220 i met him what's the normal thing that you do you kind of ask some questions you ask if they're

00:25:41.780 curious you know you pretend to be curious or you are curious with the person and then you know you

00:25:46.420 maybe say well if i can ever help you i'd love to that's actually really annoying to somebody who's

00:25:51.200 really successful because i don't know it's not my homework to help you help me in some way

00:25:55.280 annoying what's not annoying is you doing a little bit of research which we did in the moment we

00:26:00.620 didn't even know the guy was going to be there and realized oh this guy's social media is really

00:26:04.140 terrible and because his social media is really terrible I bet in 30 seconds we could tell him a

00:26:09.000 few things to change in fact we'll tell his number two because he doesn't even have time to listen to

00:26:12.240 that and because we told his number two that we said just give me your give me your email or your

00:26:16.320 assistance email so you play it down right because they might not want to give me their contact

00:26:19.980 information give me your assistance email I'm going to send you a social media breakdown of

00:26:23.440 what we would do for years. And oh, by the way, I don't even sell this. This isn't what I do for

00:26:27.260 a living. I just think you're amazing. I want to see you be successful. This is some small way I

00:26:31.200 could potentially help. And if it's not, just throw it in the trash. And of course, we sent

00:26:34.880 that out. We did this breakdown, sent it to them. And then we became consultants on their social

00:26:40.520 media strategy. Again, not paid. But now if I want to call Vivek, I can. If I want to make a phone

00:26:45.000 call, I can. And so I think anytime there might be some sort of power differential between you

00:26:50.140 and somebody else that you want something from in the future, the best way to fill that gap

00:26:54.360 is meet an unexpected need with your zone of genius. And you have it in some way, shape,

00:26:59.440 or form, but so few people will actually deliver you something that you would find valuable.

00:27:05.000 And that is not that hard to do. In fact, you could probably pay somebody on Upwork to do a

00:27:09.900 social media strategy for somebody that you met that's better than what they're doing. And so it

00:27:13.680 always surprises me. If you want to buy back your time, the best way to buy back your time sometimes

00:27:17.500 is to give your time up front

00:27:18.860 to the right people doing the right things.

00:27:20.420 And so I really like how you do that.

00:27:22.640 Okay, I want to open it up.

00:27:24.480 But before that,

00:27:25.420 is there anything else you want to end with?

00:27:26.600 I want to ask you a question.

00:27:28.880 So Cody, here's my question.

00:27:31.600 You're starting from scratch at zero.

00:27:34.520 How do you make your first million?

00:27:39.680 Here's the problem.

00:27:40.560 You have a recency bias

00:27:41.820 and a confirmation bias, right?

00:27:43.720 So what I did in the past,

00:27:45.200 would I do it again?

00:27:46.700 If I was today going to make my first million bucks.

00:27:50.960 And let's remove the relationships and the social and all the distribution.

00:27:56.260 Yeah.

00:27:56.740 I would go and become really valuable to the most valuable person I could find.

00:28:02.700 I wouldn't.

00:28:03.260 A lot of people would say I'd go build my own social media.

00:28:05.200 I wouldn't do that from scratch, actually.

00:28:07.160 I would go and immediately probably try to glom on to somebody I could find in any sort of industry.

00:28:12.240 And I would deliver that thing I just told you.

00:28:13.640 I'd deliver the most valuable thing that I, because I have inherent knowledge, know, and I'd deliver that to probably 10 people, because nine of them are going to say no, and one of them is going to think that that's really useful.

00:28:24.420 And I'm probably not going to ask for much money, so I'm probably going to like bartend, do something on the side, and say like, pay me whatever you think this is worth, or let me take a cut of whatever you think this is worth, and then I would go and work for somebody else who already has X.

00:28:36.820 because there's a weird thing about money,

00:28:38.660 which is when somebody has money already

00:28:40.940 and you can accelerate their money,

00:28:42.860 you can make money faster.

00:28:44.220 If I had to go start from $0 again,

00:28:46.500 yes, I could go start from $0,

00:28:48.720 get my first couple thousand dollars

00:28:50.220 and work my way up,

00:28:51.260 or I could leverage Dan's money

00:28:52.960 much more intelligently.

00:28:54.880 And as long as I took $0 from him

00:28:57.100 and said, I only want upside,

00:28:58.880 only pay me if this wins and succeeds

00:29:01.240 and it's just net to you

00:29:03.720 and then some net to me on top,

00:29:06.220 That's what I would do.

00:29:07.600 And I also think it's ridiculous.

00:29:08.760 Somebody else asked me this question the other day

00:29:10.500 and their answer was like,

00:29:11.420 I would go become a YouTube star.

00:29:13.420 Like, you know, I don't know.

00:29:17.980 If you guys saw the ad revenue on YouTube,

00:29:20.280 you'd be like, no, you wouldn't.

00:29:22.440 And so, and also everything's really expensive.

00:29:24.560 These cameras are like 70, $80,000.

00:29:26.540 So the best thing that you can do

00:29:27.820 is get in proximity to people who already have power

00:29:29.900 and figure out a way to become more valuable

00:29:31.420 to them than anybody else.

00:29:33.000 It is such a great answer.

00:29:34.660 You have no idea how freaking awesome that answer is.

00:29:37.780 And honestly, I've asked that question a lot of people and nobody's given me that answer.

00:29:42.300 Yeah, but in hindsight, when I think about it, all the people in my life that are my business partners is because they did what Cody just said.

00:29:48.600 When you can come to somebody and say, hey, I'm going to take nothing.

00:29:52.200 I'll do all this work.

00:29:53.180 I'm going to bet on me.

00:29:54.600 And I just I'll take 10% of the upside.

00:29:57.740 Then they have unlimited leverage because I have whatever amount of capital.

00:30:01.840 it's like how many times would you know you give me a dollar or like you know you trade a dollar

00:30:06.280 for 10 it's like how many times you want to do that trade so that's actually a brilliant idea

00:30:11.080 yeah it's true i mean lloyd basically was hugely valuable in our membership and did it for nothing

00:30:17.560 um and was incredible at it for like three years basically and then finally when we had this new

00:30:23.160 position i was like wait a second i feel like lloyd is the perfect guy for this position and

00:30:26.820 we want to do some deals together and so that's happened sort of again and again and again so i

00:30:31.100 totally agree. Okay, let's open it up to you guys. Who has the first question for Dan? Athena.

00:30:37.620 So you talked about, you know, getting time with people that would be, you know,

00:30:42.220 derive some value from that conversation. But a place I find myself in very often is people

00:30:48.340 asking to pick my brains, right? And also like asking for things that's actually proprietary

00:30:54.800 to my business. So you mentioned opening a Komodo and taking time. I'm curious because I know

00:31:00.880 both of you probably get these pick my brain requests all the time and asking to see how your

00:31:07.720 business runs so how do you how do you respond to those in a way that's still warm-hearted

00:31:13.200 and or you know some of these people potentially could be clients so what's the pivot there

00:31:18.180 yeah i mean there's there's a lot of filters let me i'll give you some tactical stuff

00:31:23.320 so first off i love everybody and if i had all the time and unlimited resources i would spend

00:31:28.960 one-on-one time with each and every one of you. But I can't because I have kids. And anytime I

00:31:33.140 say yes to something, this is a big idea. Every time you say yes to somebody else, you're saying

00:31:38.440 no to your dreams and goals. And every time you say no to something, you're saying yes to what

00:31:43.500 you've already decided you want to go achieve. So understand a no is yes and a yes is a no.

00:31:48.180 So knowing that, what I do, because I do want to make myself available for anybody, and I'm one of

00:31:54.460 a few people that probably do this kind of nutty anybody can fly to where i live and on tuesday

00:31:59.620 morning there is a hike it's called the founder's hike it's at 6 30 in the morning and you're

00:32:04.340 invited and people fly in from all over the freaking world there's a guy from new zeal two

00:32:09.460 guys from new zealand dubai we almost killed a guy from louisiana it's a it's a real hike

00:32:16.680 all right people i live in canada like this guy we had to put his apple watch on his heart rate

00:32:25.500 because i was like if it stays above 165 for too long i'm gonna stop the hike and you'll wait for

00:32:30.500 us on the way down it's not that crazy like it's it's a 45 minute hike but in that time uh there's

00:32:36.980 a bunch of us that do it and and i made that and i'll tell you why i do that is i had a mentor once

00:32:41.480 and I reached out to him and I mean cold email but you know local person knew my name I had a

00:32:47.380 small business and I asked him for time and he said meet me at in Canada you guys know Tim Hortons

00:32:53.120 anybody Canadian all right cool he said meet me at Tim Hortons right it's like the Dunkin Donuts of

00:32:57.600 Canada and uh but it was 7 a.m on Sunday morning and I was like why does this guy want to meet at

00:33:04.280 7 a.m back then i was 23 24 right 7 a.m was early i was like this is weird so anyways i went there

00:33:11.840 suit and tie all dressed for success you know and he shows up in like normal t-shirt and stuff and

00:33:16.700 but this guy was the owner of the number one software company in our town and at the end of

00:33:21.800 it i said uh steve his name is steve palmer i said steve i'm just curious man why did you want

00:33:27.140 to meet at 7 a.m at tim hortons on a sunday morning don't you have like your family and stuff

00:33:32.420 If you go, it's a filter.

00:33:35.320 And if you would have barked at that, it would have been a no.

00:33:38.360 And the fact that you showed up dressed like that, by the way, crazy.

00:33:42.600 I was like, okay, I don't know.

00:33:45.860 It shows me you're serious.

00:33:47.820 So that's how I do it.

00:33:48.800 So for 99% of the people that I do not know, that cold email, that want to pick my brain, buy me coffee, buy me a meal, I don't need coffee or meals, you can come to the Founders site.

00:33:59.360 And literally, Ann has an auto-reply.

00:34:02.420 But for everybody else, the way I decide is, A, here's where I want to go.

00:34:08.080 Because, again, every yes to somebody else is no to my kids.

00:34:11.580 If you guys put that in the context of your family members or your health, then you would be a lot more discriminant with your time.

00:34:20.140 See, I just think a lot of people, step one of buying back your time is value your time.

00:34:24.840 Some of you do not value your time.

00:34:26.540 And it's probably because of a self-worth thing.

00:34:28.580 So I definitely, I will do 15-minute meetings if it's one-on-one.

00:34:34.320 I like doing dinners.

00:34:36.540 So I like to, I mean, we did a dinner with eight people.

00:34:38.620 And the cool part about that is oftentimes, you know, I can help them, but really maybe they need to meet somebody else.

00:34:44.560 There's eight people there.

00:34:46.100 I can deepen a relationship with other folks.

00:34:48.000 So it's a really high leverage activity.

00:34:49.840 So I do those all the time.

00:34:50.980 I've got one tonight.

00:34:51.740 I've done one almost every night I've been here.

00:34:53.960 And then I'm just really good at saying no.

00:34:56.980 I'm okay with saying no and sometimes you'll have you know a false positive or whatever's called

00:35:02.400 false negative where you said no to somebody you shouldn't have and that's a feedback loop and

00:35:06.260 that's okay and I live in abundance and if that hurts their feelings that's on them it's not on

00:35:10.020 me it's really good yeah the only thing I'd add to you know what do you do when somebody's trying

00:35:14.640 to steal your time and you know the the numerous pick your brain requests I use a filter for even

00:35:21.280 responding to emails

00:35:23.400 because of just the amount of stuff

00:35:25.460 that comes at you

00:35:26.100 and I always ask them to do,

00:35:27.580 they're asking me for work,

00:35:28.520 I ask them for work first.

00:35:29.560 Yeah, so good.

00:35:30.380 So immediate response

00:35:31.380 would be something like,

00:35:33.040 hey, you know what I think

00:35:34.120 is helpful to most everybody

00:35:35.240 because all the questions

00:35:35.880 are the same thing.

00:35:36.500 How do you buy a business?

00:35:37.300 How do you run a business like you do?

00:35:39.220 How do you become successful?

00:35:40.640 Whatever the case may be

00:35:41.380 and I always give them a book.

00:35:42.940 So I just say and think,

00:35:44.240 hey, this is a link to a book

00:35:45.160 that I think is really useful to you.

00:35:46.220 Go ahead and read this

00:35:46.880 and if you have any questions afterwards,

00:35:48.120 let me know.

00:35:48.700 Do you know how many people

00:35:49.340 follow up with me on that?

00:35:50.320 negative 12 and so the you know i think if people want you to do the work for them

00:35:57.060 kind of immediate red flag and this is like normalized but you could say you know be a

00:36:01.580 perfect example you'd go hey you want to learn about how to buy businesses go read contrarian

00:36:05.480 go read like these five articles on contrarian thinking's free business buying newsletter

00:36:08.620 come back to me with your specific questions then you know they're a player they're willing

00:36:11.920 to do some of the work first um and if if you feel weird deferring them to something like that

00:36:16.920 I always go, oh man, I hate giving any version of a shortened, non-contextualized response.

00:36:24.580 There's nothing worse than offhand advice that somebody gives you without really understanding

00:36:29.280 your situation. So before I give you any advice, I want you to go do this thing over here because

00:36:34.500 then we at least have context. We have set definitional understanding. And so that's one

00:36:39.160 thing that's been helpful to me. And then I set a lot of rules around how people can get to me.

00:36:44.200 And so you used something before that was like what I would term like strategically incompetent.

00:36:50.920 Oh, yeah, strategically.

00:36:51.720 You know, like, oh, I don't know.

00:36:54.400 Strategically incompetent.

00:36:55.520 That's a good way.

00:36:56.020 How would I do that?

00:36:56.820 I don't know.

00:36:57.340 How would you do that?

00:36:58.200 Which is, I need to do that more.

00:36:59.380 You're really good at that.

00:37:00.520 Yeah, really good at playing stupid.

00:37:02.240 I should.

00:37:03.320 I got to save your complex like you wouldn't believe.

00:37:06.280 But the second thing that I've found is just being strategically, what do we say?

00:37:11.800 We say we're easy to find, hard to reach.

00:37:14.760 I'm easy to find.

00:37:15.540 I'm all over the internet.

00:37:16.420 Anybody can find me.

00:37:17.300 I'm impossible to reach.

00:37:18.380 I never respond to text messages.

00:37:19.900 I barely do emails.

00:37:21.400 I have rules around voice notes.

00:37:22.720 I don't fucking do them.

00:37:23.600 No, I'm like, I do not want to have you whisper in my ear.

00:37:27.280 Yes.

00:37:27.620 Like, it's so creepy.

00:37:28.900 A stranger.

00:37:29.800 Right.

00:37:30.080 Hey, I just saw your video.

00:37:33.340 I'm like, no, no, no.

00:37:35.980 Opt out.

00:37:37.120 I want that Apple update.

00:37:38.200 You are creepy.

00:37:39.080 What about when this person could be a potential client and maybe they don't understand?

00:37:42.760 And ask them what they're looking for.

00:37:44.680 I mean, to Cody's point, you know, like I just, I'm always like, my response is always

00:37:49.260 positive and exciting.

00:37:50.220 Again, I don't do it, Ann does it or team does it, but it's like, oh, thanks for reaching

00:37:53.380 out.

00:37:53.600 Super appreciate it.

00:37:54.380 Would love to meet up.

00:37:55.600 But before I do that, could you give me a bit more context?

00:37:58.000 What do you, what specifically do you need?

00:37:59.640 Because I mean, again, strategically incompetent, I actually might be the wrong person to chat

00:38:03.620 with.

00:38:04.420 And then you put homework on them.

00:38:05.980 Again, half of those people will never reply.

00:38:08.420 Yeah.

00:38:08.540 So that just told you, they, they probably sent that email to 14 people, right?

00:38:12.400 And they were just looking for anybody to go like, yeah, let's meet coffee because they want to sell you insurance.

00:38:16.200 But you know what you actually have there?

00:38:17.760 You don't have an outreach issue in this case if they're going to be a client.

00:38:20.740 You have a business model issue.

00:38:22.440 You have a business that is a service, not a productized service that you can standardize that people actually can fall into.

00:38:28.580 You have both of our least favorite types of businesses.

00:38:30.720 He's the SaaS king because he wants to build, wants, sell continuously.

00:38:34.260 And I bet his advice to you would be something like create a productized service that allows somebody to buy some component.

00:38:40.880 Yeah.

00:38:41.080 as opposed to RFP for their time,

00:38:43.700 which is what you're doing when they're like,

00:38:44.780 can we talk first?

00:38:46.100 You're having to apply for an RFP.

00:38:48.200 And that's not the type of business model

00:38:50.320 you actually want to run long-term.

00:38:52.760 You're pretty big on productized models, services.

00:38:56.300 Yeah, I don't do custom job shop, anything.

00:38:59.560 It's hard.

00:39:00.680 I mean, it's so funny though

00:39:02.480 because it's the easiest business to start

00:39:04.100 and it's where everybody goes to immediately.

00:39:06.260 Even, you know, like my husband,

00:39:07.620 we have a couple businesses and he'll be like,

00:39:08.960 We have this huge opportunity to do an RFP for them.

00:39:11.360 I'm like, nope.

00:39:12.700 Shut it down.

00:39:13.200 No.

00:39:13.820 You either press the button and buy or you don't.

00:39:15.660 Okay, let's do another question here.

00:39:17.000 Yes, Robert.

00:39:17.780 Can you talk about the value of failure

00:39:19.240 and how getting through that enables you to buy back your time?

00:39:22.320 Yeah.

00:39:23.160 I mean, John Maxwell wrote a great book.

00:39:26.920 Sometimes you win, sometimes you learn.

00:39:29.540 And that's just the way I think about it.

00:39:31.100 So I just start with the premise.

00:39:33.060 Anytime I start any company,

00:39:34.160 this might be a little weird for you guys,

00:39:35.460 I just assume I'm wrong.

00:39:36.560 what a crazy frame if I start a new business the first thing I believe is I'm wrong now I'm on a

00:39:43.220 journey to validate that I'm right so my conversations my approach are completely

00:39:48.560 different so when I fail I actually get excited because I'm like that doesn't work let's not do

00:39:54.000 that again perfect how fast can I move through an experiment to get to a place where I learn

00:39:58.660 and that I would say that's actually like when we think of like poor mindset rich mindset

00:40:03.340 that's the difference between the people that are wealthy is that they don't call it failure.

00:40:09.900 Like I can't remember last time I was like, I failed. Nope. I learned. I got to a place of

00:40:15.560 experience. Yeah. I think I have the same take on that. The only thing that I might add there

00:40:20.360 is the other thing that I've noticed really successful people don't do is there's not a lot

00:40:25.360 of blame. Like I've noticed on my team, sometimes somebody will go, Oh, that's my fault. Cause I did

00:40:29.640 X or Y or Z or like, I should take the blame for that. I'm like, why would we ever use that word

00:40:33.020 blame like the only reason that you should blame yourself for something or you should accept quote

00:40:37.400 unquote fault is if you did something on purpose repetitively otherwise it's not that it's oh wow

00:40:43.120 this happened we should have done this what did we learn differently about that I did take that

00:40:47.540 part next time I'd like actually to do this I hate that blame work and I think that like lines

00:40:52.120 up directly with failure and if you start blaming yourself for failures you really get into trouble

00:40:57.400 use the word rich earlier and then now you're using wealthy could you kind of provide some

00:41:01.820 context of the difference of the two? I'm just going to tell you what I think wealthy is. I

00:41:05.160 think wealthy is realizing you've already arrived the place you're trying to get to

00:41:08.060 to become the person that you can be today. I like that. I'll just like leave that little

00:41:15.060 nugget for you to think about what I just said. Okay. Who's got another question? Can you elaborate

00:41:20.160 a little bit on the manage energy, not time? Because some of the books that I read, usually

00:41:25.900 they say eat the frog first. Like, you know, you start with the most complex task when you have

00:41:30.660 the energy and then go down to a smaller task that you can digest later um is that something

00:41:37.860 that is 100 part of it um but it's also more like in the book i have this thing called the buyback

00:41:45.080 loop which is how i have done everything i've ever done in my life it's how i execute and grow and

00:41:50.600 scale and every year my life gets better and better and better bigger but better it just is

00:41:58.040 And if you look at the formula, like, well, of course it would have to, because one of the concepts is doing a two-week time and energy audit.

00:42:05.440 Depending on how big my life is growing this year, I might have to do it three times a year, once a year, twice a year.

00:42:12.040 But part of that is evaluating what things in my calendar give me energy versus take my energy.

00:42:18.880 Does that make sense?

00:42:20.400 So what's funny, though, is one of the big ideas that people have to remind themselves is something can start off as a bright green.

00:42:27.040 I love this and immediately turn into a yellow and then a red but you forget to reassess so for

00:42:33.220 example I was a board member on a in a company and at first it was awesome and then it was like

00:42:38.860 oh this is boring well I don't want to be on but I forgot to renegotiate with the people to resign

00:42:44.280 from the board to create the space and it sounds so subtle because it's like it's only a 90 minute

00:42:49.040 call maybe once every six weeks it's still 90 minutes I want my 90 minutes back right or the

00:42:55.180 other day I was doing, I do one-on-ones with my direct reports. I don't have a lot, but I still

00:42:58.940 have them. And I noticed they were 60 minutes in the calendar because they've always been 60 minutes

00:43:03.060 and we're always finishing early. So guess what I did? Shrink them down 45. So now all my one-on-ones

00:43:09.280 are 45 times five. That's, I get back a couple of, so like my whole thing is yes, start the morning.

00:43:15.520 So if you follow, I have a whole video on my morning routine. First thing I do in the morning

00:43:18.980 is work on the thing that needs to get done. The frog for sure. Cause that's where your mind's

00:43:24.020 freshness you're connected you know it's awesome but i also look at the work i do and that's why

00:43:30.540 i buy back your time is really about buying back the time from not doing the stuff to take your

00:43:34.920 energy that costs very little to have somebody else support you on and that's that's the thing

00:43:39.340 and it doesn't there's a whole chapter called the time assassins because it costs zero dollars to

00:43:43.340 buy back your time you just got to stop doing the five time assassins so people think i don't have

00:43:48.060 the money i've got a job i can't buy my time back no you can by not doing the five time assassins

00:43:53.520 what are the five-time assassins that's always good when you wrote are you writing your book

00:43:57.440 right little tip memorize the things you know people are going to ask i knew as soon as i said

00:44:05.500 that someone's going to ask me but it's i have them i know okay please if you don't mind reading

00:44:11.360 okay yeah that that part that part always stresses me out too there's five s's the staller yes okay

00:44:17.580 that yeah do you want to talk about i will i'll do it real quick the staller is the person that

00:44:20.960 takes more time to make a decision to make the decision and the potential downside, which is

00:44:24.300 probably not going to be there. And they just delay it. Just make a decision. That is what

00:44:28.680 Cody does beautifully. I do the top people. They, what information do I need? They know I'm going to

00:44:33.760 make an imperfect, I have imperfect data to make a decision. It's not about making the right

00:44:38.080 decisions, but making a decision and making it right. So don't be a staller. Love it. The speed

00:44:43.000 demon. Speed demon is the opposite. It's a person that's moving fast. I'm like, I got to go and

00:44:47.180 da-da-da, watch this movie, da-da-da-da-da-da, and then all of a sudden they're cleaning up

00:44:50.880 because of the freaking wake of stupid hiring their cousins because they had a pulse, like just

00:44:57.500 dumb, moving too fast. Done it, literally. Sorry. The other part that I thought was really good

00:45:06.420 about the speed demon that you talk about is how to offset your speed demon nature by,

00:45:12.080 I forget what you used in the book, but basically what I took away from it is if I know I'm a speed

00:45:16.120 demon, which I am, that means that I need callers. I basically need a caller around me. So if I know

00:45:20.800 I want to hire fast, that means I need a great recruiter because I'm going to move and they have

00:45:25.260 the experience to move it fast. Yeah. Okay. The supervisor. Yeah. You over manage people. You're

00:45:31.800 a micromanager. This is funny. You hire people and then tell them what to do. Yep. Anybody

00:45:36.680 hire people and have them tell you what to do. Really actually hard to do. Super hard. Really

00:45:42.460 hard to do the saver yeah you literally walk over dollars to save pennies it's hilarious like i had

00:45:50.080 a buddy i talked about in the book he had uh i think it was like a three million a year mastermind

00:45:54.080 and he was hating it he was gonna shut it down but he saw what i was doing and he's like how did

00:45:58.500 you create all the systems i feel like there's a framework i said oh it's my buddy simon he's like

00:46:02.620 this is his genius he's like oh how much is he and i'm like i don't know like i honestly i maybe

00:46:09.220 you got a bro deal. I don't know what it is. Maybe five grand, maybe 10, but you're about to shut

00:46:13.920 down a 3 million mastermind. What do we tell you? He goes, does he have a book?

00:46:19.740 Dude, I don't know if he has a book. I'm going to introduce you to the guy that's going to solve

00:46:23.140 the problem. So you don't shut down your business. It's making you, you know, six,

00:46:27.000 700 grand a year. He's that guy. Oh, painful. And the self-medicator.

00:46:31.900 the vices the vices some people end of the year rolls around and depending honestly if it's a good

00:46:41.640 year they drink to celebrate and if it's a bad year they drink just to to numb it right i used

00:46:47.140 to be that person i quit drinking 12 years ago but i i've always had that issue and it's not even

00:46:52.140 about alcohol or drugs or video games or it's you know you just got to check in with yourself so

00:46:58.880 somebody asked me one time they're like how do I know what I need to stop doing right because it's

00:47:02.300 not what I'm doing that I'm winning it's what I don't do like that's the biggest idea we should

00:47:07.420 all consider when people stop me and they see me drive my fancy car and they go what do you do

00:47:11.380 I'm like it's what I don't do dude right I don't go to the buffet and try to get my money's worth

00:47:18.420 I don't go gambling I don't fucking vape I don't do a ton of stuff that I know you do

00:47:23.480 so figure that out. One other thing that both you and maybe the most successful people that I know

00:47:29.940 overall it's the name of your book but literally where to buy back your time so for instance every

00:47:35.500 time I go and meet with one of my mentors Bill Perkins he says to me uh he asked me if I if I

00:47:41.340 put my own gas in my own car which originally I thought god that's so pretentious I can't even

00:47:46.280 fill up my own car like what kind of asshole doesn't do that and then he explained to me

00:47:50.960 what my time is worth in order for me to go fill up my own car every single time and so each time

00:47:55.920 he'll come up with something new he'll be like did you schedule your own doctor's appointments

00:47:59.640 have you been doing landscaping and the mission is basically just you are basically a representation

00:48:05.020 of the tasks you do every single day and so if the tasks that you ever do every single day are

00:48:10.340 low level what are you you're actually kind of low level um and you you can't level up unless

00:48:15.820 you change your tasks. What odd things do you do? Like the weirder, the better to buy back your

00:48:21.480 time. I'll give you my new test. This is like, cause I have a lot of friends that are like,

00:48:25.460 I have an assistant. I'm like, my, and I've been playing this game of like, she's going to do a

00:48:32.360 video of all the assistants evaluation. Cause she deals with them all. And some of them are like,

00:48:37.600 they're like, do they really, do they talk to each other? It's like, cause she's trying to

00:48:41.380 coordinate stuff and some people are dialed in some people are not so uh what are the weird

00:48:46.340 things that i do to buy back my time here's one this is the test is do you pack your own bags for

00:48:52.020 your travel i know that that'll probably be that'll be like the the final boss in the levels

00:48:59.620 right like i know could you imagine how crazy that would be to just pick up a bag and go straight to

00:49:06.360 the airport and trust that your passport's there if you're going international that everything you

00:49:10.760 need and all your pills and everything it's like do you do that now i don't i don't pack my bags

00:49:14.800 and no and doesn't do it betty does it but she reports that's incredible yeah so i do a lot of

00:49:20.260 stuff so yeah i don't i don't wash my car put gas in my car um the weirder stuff i have this thing

00:49:25.860 about a certain type of gum and these uh toothpicks that i like uh to keep my teeth clean and they are

00:49:30.660 literally they're always in the right places in my car in my office everywhere we have this cool

00:49:36.060 thing like all the repurchasing in every home all the stuff there's like a little spot that we put

00:49:41.320 stuff if it's almost finished and you just put it there it's like a magic little square

00:49:45.260 i know man you guys are gonna love this magic little square guess what happens when you put

00:49:50.860 something back it gets reordered more shows up it is awesome so uh i do a lot of stuff i don't shop

00:49:57.740 right i have a shopper and she just sends me a bunch of stuff i put it on i create two piles i

00:50:02.600 walk away and all of a sudden I get the right stuff. It's kind of awesome. The way I think

00:50:06.180 about it for me, I only do two things. I create in my unique genius or I hug and I hang out with

00:50:12.040 people I love. Think about it. That's literally all I do. That's all I want to do. The part and

00:50:19.400 one of the reasons why I want to hit on this is because the world is crazy. And if you guys,

00:50:24.060 if we were to post this segment on either of our Instagrams, what would happen? Massive shame.

00:50:29.040 you know you rich tats the rich right like that's the world we live in and here's the problem with

00:50:35.660 that this is why we have to have rooms like this because guess how the wealthy get wealthier

00:50:40.460 it's the small things the things that they never share out loud because they would get lambasted

00:50:46.560 for it and so because of that more people stay poor and we don't actually give the hand up to

00:50:52.160 the next generation how did we all i started as an assistant back in high school i had a rich family

00:50:57.880 that I worked for.

00:50:58.760 I drove their car.

00:50:59.500 Sometimes I ran into things.

00:51:00.440 I didn't always tell them about it.

00:51:01.720 And I did a bunch of awful work

00:51:05.000 when I was young.

00:51:06.300 And I'm sure somebody could say

00:51:08.380 that woman couldn't have washed her car.

00:51:10.360 Well, those first 20 bucks

00:51:11.560 let me make my very first investments.

00:51:14.340 And so shame on every single one of us

00:51:15.940 if we think that it's pretentious

00:51:17.560 to allow somebody else

00:51:18.580 to do a lower level task for ourselves.

00:51:20.500 That is how we stay poor.

Dan Martell - March 22, 2024

Millionaire Investor Explains How to Make $1,000,000 If You’re Broke

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