Valuetainment - Episode 204： 14 Strategies to Beat Your Competition as an Entrepreneur

00:00:00.000 30 seconds, one time for the underdog, ignition sequence start, let me see you put em up, reach

00:00:09.240 the sky, touch the stars up above, cause it's one time for the underdog, one time for the

00:00:16.220 underdog.

00:00:17.280 I'm Patrick Bedevi, your host of Value Team, and today we're going to talk about 14 strategies

00:00:20.920 to beat your competition as an entrepreneur.

00:00:23.720 First of all, in 2005, let me tell you where I was at.

00:00:26.380 I was already making six figures, I didn't have a lot of money, I had just paid off my

00:00:30.380 $49,000 of debt, and I'm coming up, and I get invited into this meeting.

00:00:35.140 It's 100 people in this room, okay, and all these 100 people that are in the room, 80%

00:00:40.920 of them are ahead of me, and I'm trying to come up, I'm really trying to compete with these

00:00:44.760 guys, and I'm in the financial industry.

00:00:46.640 At this point of my life, I had already made a decision, I'm going to be in the sales business,

00:00:51.820 period, and I'm going to be in the insurance and the financial services, period, which

00:00:55.700 means I'm no longer looking, I'm not partying, I'm done chasing squirrels, it doesn't excite

00:01:01.000 me anymore, another new girl, I don't get excited about it, I want to figure out a way

00:01:05.780 to get the best out of this guy, and I would stay up at night, and I would be thinking to

00:01:10.580 myself, I don't know why, but I can't go to sleep, because I think I'm put on this

00:01:13.840 planet to do something very special in my life, there's no way in the world I was just

00:01:17.720 put here to be an average guy.

00:01:19.060 I was thinking those thoughts.

00:01:20.460 So, if you're that person that's also having those thoughts, this is going to make a lot

00:01:24.340 of sense to you, and it'll give you some clarity.

00:01:26.300 So, I walk into this meeting, and the speaker gets up, and the speaker says, today, I'm only

00:01:32.880 speaking to one person.

00:01:34.340 I said, okay, see what he's going to be saying.

00:01:37.080 And he says, today's message is not for everybody.

00:01:39.560 Today's message is for the person that wants to be the best.

00:01:42.600 I said, okay, I like that opening line already.

00:01:44.420 Then he takes out this magazine, okay, and this magazine is called Newsweek, Tiger Rules,

00:01:53.740 Five Secrets of His Dominance.

00:01:56.740 I'm already excited, because Tiger's killing it at that time, and he says, and by the way,

00:02:01.280 I've never opened up this magazine, ever.

00:02:03.440 I've never opened up this magazine.

00:02:05.400 It's crisp.

00:02:06.160 Let me show you.

00:02:07.320 It is crisp.

00:02:08.380 This has never been opened up, okay, and you'll know why in a minute, why it's never been

00:02:12.040 opened up.

00:02:12.540 And he tells the stories about Tiger Woods.

00:02:15.180 He says, listen, for the one person in this room that wants to be the best, that wants

00:02:20.200 to be the best, here's what the best is wired like, Tiger.

00:02:25.200 Point number one, in a magazine, it says, genius is 99% perspiration.

00:02:30.800 This was a message about hard work, and he goes off 10 minutes, Tom, if you don't work

00:02:34.520 hard, if you don't do this, if you don't do that, there's no way in the world you stand

00:02:37.480 a chance, and he talks about Tiger's work ethic.

00:02:40.500 Then he says, point number two, let the other guy get nervous.

00:02:44.700 I'm sitting there saying, let the other guy get nervous.

00:02:47.020 Tiger used to scare people.

00:02:48.620 He used to intimidate people.

00:02:50.060 By the way, he looked at people.

00:02:51.160 By the way, he did this.

00:02:51.840 By the way, he did that.

00:02:52.720 And I'm a big guy when it comes down to looking at eyes and studying eyes, and I had a reputation

00:02:57.480 a little bit of going and telling a guy that was much bigger than me at that time.

00:03:00.440 I was making $20,000 a month.

00:03:02.220 This guy's making $200,000 a month.

00:03:04.440 And we're in Phoenix, and I pull him aside when he's done giving his keynote.

00:03:07.320 And he knew who I was, I was coming up, and I pulled him aside, I said, let me say something

00:03:11.140 to you.

00:03:11.680 I have to say this for me more than I have to say it for you.

00:03:14.500 He said, what's that?

00:03:15.620 I said, you won't even get close to the size of a business I'm going to be building.

00:03:20.020 And he says, what did you say?

00:03:20.980 I said, there's no way in the world you will even get close to the size of a business I'm

00:03:24.460 going to be building.

00:03:25.380 Now, some may call it cocky, arrogant, whatever you want to call it.

00:03:29.560 That was more for me than it was for him.

00:03:31.500 Now, he cursed me out.

00:03:32.360 We went at it.

00:03:32.980 It was in the hotel lobby.

00:03:34.700 Everybody's looking.

00:03:35.240 What is going on with these guys?

00:03:36.100 We're both about the same height, but I had to say that to him.

00:03:38.880 Because I had to know that I could go face somebody much bigger than me, and if I'm going

00:03:43.120 to back down and get scared, or my spirit's going to get bigger and say, I'm coming after

00:03:46.700 you.

00:03:46.880 I had to figure that part out about myself.

00:03:49.260 Then he says, point number three, don't just dominate, intimidate.

00:03:53.660 Tiger was famous for intimidating his competition.

00:03:55.860 I said, okay, that's exciting to me right now.

00:03:57.960 He says, point number four, have a sense of the historic.

00:04:01.040 What do you mean a sense of the historic?

00:04:02.600 Study history.

00:04:03.440 Tiger knows his history.

00:04:04.420 Tiger does this.

00:04:05.100 Tiger knows what it is to break the road.

00:04:06.900 Tiger knows Jack Nichols got the most, you know, Tiger knows all, and he's going, and

00:04:11.020 I'm like, oh my gosh, this is me, because all I do is I study history.

00:04:14.560 I love studying history.

00:04:15.760 I love studying every single thing about everybody in the insurance space.

00:04:19.380 I want to know everything.

00:04:20.760 I want to know the mistakes.

00:04:21.980 Who's done it best?

00:04:23.060 Who's best at this?

00:04:23.960 Who's the greatest at this?

00:04:25.300 Who made a big fall of this?

00:04:26.500 Who did the over here?

00:04:27.340 I wanted to know every single thing.

00:04:29.260 So the books I would read weren't just highlighted.

00:04:32.300 They had things written in them.

00:04:33.440 They were crumbled.

00:04:34.660 I had things typed out, pages and pages and pages of notes typed out, because I wanted

00:04:39.140 to know history.

00:04:40.220 And the last but not least, never, ever be satisfied.

00:04:44.280 That's the thing about Tiger Woods.

00:04:45.380 He says, never, ever be satisfied.

00:04:47.480 You know what happened with number five?

00:04:48.820 I was stuck.

00:04:49.680 You know why?

00:04:50.860 Here's what I was stuck.

00:04:52.140 It's very easy to say, but you don't understand, I'll never be satisfied.

00:04:55.400 I will never, ever be satisfied.

00:04:57.380 You have no clue if you'll never, ever be satisfied.

00:04:59.680 You know why?

00:05:00.460 Here's why.

00:05:01.380 What are you going to do if somebody puts $100 million in your checking account right

00:05:04.120 now?

00:05:04.300 Wake up.

00:05:04.740 Go ahead and wake up in the morning.

00:05:06.360 Say you've got $100 million in your checking account.

00:05:08.160 Wake up in the morning with the same fire in your belly.

00:05:10.780 So that's the only thing that I said, oh man, this one's going to take me decades to

00:05:15.700 figure out whether I'm going to get to the point where I'm never going to be satisfied.

00:05:19.500 So he says this and I step out and I said, you know what?

00:05:25.020 I don't know what it is.

00:05:26.420 I don't know what I'm feeling in my stomach.

00:05:28.220 I can't even stop thinking about this.

00:05:29.980 I went home.

00:05:30.980 I went on eBay.

00:05:32.200 I went on every single magazine store.

00:05:34.200 I bought every available copy of this magazine, every available copy of this magazine.

00:05:40.780 I bought, I kept the best quality one.

00:05:44.380 I gave the rest away to the people that I was mentoring at that time, but I kept the best

00:05:48.940 copy.

00:05:49.720 And it's the first one when I opened up, I have tens and tens of these folders here

00:05:54.240 that I keep my notes and I type up.

00:05:56.740 And then I came back and said, hey Patrick, are you really that serious or are you just

00:06:00.540 BSing yourself that you want to go out there and go face off with Goliath?

00:06:03.860 I said, no, I'm pretty serious, Pat.

00:06:05.700 I made a vision board.

00:06:07.020 And these are all the quotes, philosophies, people that I admire on things that they say

00:06:10.460 their belief system.

00:06:11.800 And I looked at it every single day, multiple times every day when I went to work.

00:06:15.600 I created another one.

00:06:17.180 This other one here has the greatest performers.

00:06:19.280 Obviously, you see me in the middle there with 14 years old, 18 years old, 19 years old.

00:06:23.640 Me in the military, I'm big on eyes, so you'll see a lot of eyes on there.

00:06:27.200 And then I made another one, the future of PBD.

00:06:30.100 Why?

00:06:31.020 Because I wanted to really test this guy.

00:06:33.360 You know why?

00:06:34.300 This has nothing to do with your Goliath.

00:06:36.540 This has to do with you.

00:06:38.540 I'm talking to you.

00:06:39.600 This only has to do with you.

00:06:40.980 And remember, I told you this message is not for everybody.

00:06:43.260 Some of you guys are watching and going on newsfeed, on your Facebook, and you're listening

00:06:47.820 to this.

00:06:48.420 You're not the person.

00:06:50.080 The person who wants to go off against Goliath, go face off Goliath, you can't even move your

00:06:54.900 head off the camera right now.

00:06:56.000 Your body's got the chills all over your body because you thought about this last time.

00:06:59.400 You thought about it this morning.

00:07:00.480 Every movie you watch, tears comes down your eyes when you're watching a warrior or you're

00:07:05.100 watching a, you know, gladiator or braveheart because this stuff matters to you, okay?

00:07:09.360 So now here's a few things we need to know before we face off a Goliath.

00:07:13.240 Number one, it's not for everyone.

00:07:14.620 Very simple.

00:07:15.900 Everybody claims they want to do it, but it's not for everyone.

00:07:18.800 Number two, it is scary as hell.

00:07:21.240 It is so scary, it's not even funny because can you imagine you going and telling a guy

00:07:25.760 way ahead of you, I'm coming after you.

00:07:28.140 You're putting yourself out there.

00:07:30.140 LeBron says, I'm chasing the ghost.

00:07:32.900 He shouldn't have never said it, but he put himself out there.

00:07:35.800 Do you realize I've never been a LeBron James fan until he said that?

00:07:40.320 Because, and I'm still not a fan, but when he said that, I said, you put yourself out

00:07:44.140 there.

00:07:44.520 Now you got pressure and he wants to show that this matters to me.

00:07:48.800 Kobe said, my number's not 23, I'm 24 because I'm one better than MJ.

00:07:52.980 Even though it never happened, it's putting yourself out there.

00:07:56.080 That's how you gain the respect from the people that are saying, well, every time they ask

00:08:00.040 Michael Jordan, who's the person closest thing to you?

00:08:01.880 He says, man, I've never seen nothing like Kobe before.

00:08:03.920 You earn respect from Goliaths when you do that, but it's scary as hell.

00:08:08.660 Let me tell you.

00:08:09.480 Number three, you'll have anxiety attacks and panic attacks.

00:08:11.980 I can't tell you how many anxiety attacks and panic attacks I had when I put myself out

00:08:15.860 there.

00:08:16.200 I couldn't sleep.

00:08:17.100 I was up.

00:08:17.720 I was restless.

00:08:18.960 I'd be waking up in the middle of the night, my body's sweating.

00:08:22.140 My bed is wet, not because I peed in my pants, but because I'm sweating all night long

00:08:27.280 thinking about this.

00:08:28.660 I would dream about it.

00:08:30.100 I would have anxieties about it.

00:08:31.440 By the way, again, someone's going to say, Pat, this is not healthy.

00:08:34.280 I understand if you say this is not healthy, because this is not directed to you.

00:08:38.920 The person who knows exactly what I'm talking about, you're thinking about this stuff.

00:08:42.880 Point number four, you'll be bullied and laughed at for even thinking that it's possible for

00:08:47.160 you to face off the Goliath.

00:08:48.080 People are going to say, you're out of your mind.

00:08:49.120 You're going to be Joey.

00:08:49.840 You're never going to be Joey.

00:08:51.180 No one's beaten Joey for 13 years.

00:08:53.060 No one's beaten Jennifer for 28 years.

00:08:55.740 You think you're going to break his record?

00:08:57.380 You're crazy.

00:08:58.780 You are absolutely crazy.

00:09:00.160 They'll make fun of you.

00:09:00.960 They'll create rumors.

00:09:02.000 Look at him.

00:09:02.480 He thinks he's this.

00:09:03.160 He thinks he's going to do this.

00:09:04.240 That stuff's going to happen.

00:09:05.080 Number five, you have to be a bit off to even think this is possible.

00:09:09.340 You're not normal if you think this is possible.

00:09:11.220 I want to tell you this.

00:09:12.540 You have to be a little bit off.

00:09:14.240 You have to be a little bit crazy.

00:09:15.960 Some people may even call you a psycho.

00:09:17.520 There's no way in the world this guy thinks this is possible.

00:09:20.100 You have to be off.

00:09:21.080 You cannot be normal to think you can face off a Goliath and beat him.

00:09:24.500 Next one, as much hard work and dedication as you think it takes, it's 10 times more.

00:09:29.060 You think you're working hard, it's 10 times more.

00:09:31.600 You think you're really putting into the effort, it's 10 times more.

00:09:34.280 Again, I'm reminding you this is not for everybody.

00:09:36.760 Point number seven, your family won't be too happy because they won't see you too much.

00:09:40.560 Point number eight, you will be hospitalized for burnout or hard work multiple times.

00:09:45.480 Mario knows this watching this from behind the camera.

00:09:48.100 This has happened to me multiple times.

00:09:49.940 One time we're in Jacksonville and I'm giving this talk in Jacksonville.

00:09:52.940 And while I'm speaking, my legs are wobbly.

00:09:55.220 It looks like I'm about to pass out.

00:09:56.560 The room is full.

00:09:57.700 It is hot.

00:09:58.440 It's summertime.

00:09:59.560 We finish.

00:10:00.360 I walk out.

00:10:01.080 I'm walking in the parking lot with Paul.

00:10:03.300 All of a sudden, I collapse.

00:10:04.540 I tell Paul, take me to the emergency room.

00:10:06.000 We get in the RV.

00:10:06.620 I go to the emergency room.

00:10:07.920 They set me up with IVs.

00:10:09.500 I say, Doc, what's going on with me?

00:10:11.360 He says, you're just exhausted.

00:10:12.460 They gave me two IVs.

00:10:13.380 I was fired up.

00:10:14.520 We got in the RV, drove down to Miami, stayed up till 3, 4, 5 o'clock in the morning.

00:10:18.220 Did it again the next day.

00:10:19.420 Why?

00:10:20.340 Because that's the stuff you're going to do a few times when you push the envelope.

00:10:23.340 It's just going to be happening.

00:10:24.480 Now, by the way, some parents will watch this and say, I can't believe you.

00:10:27.840 My kids are watching.

00:10:28.740 You're telling me.

00:10:29.220 My kid admires you.

00:10:30.580 How dare you say this kind of stuff to my kids?

00:10:32.760 Ma'am, sir, let me simplify something for you.

00:10:35.940 The chances of your kid even doing this is less than 1% because the person who's going

00:10:41.060 to do this is already thinking about this stuff.

00:10:42.960 They just want some direction and want to know when they face off a glide.

00:10:47.140 So don't worry about your kid.

00:10:48.300 There's 1% chance that your kid's even going to want to step up to something like this.

00:10:51.520 Having said that, a few things you need to know about glide.

00:10:54.040 Here's a few things.

00:10:55.180 Number one, glide is much bigger than you.

00:10:57.780 Number two, glide has more capital than you.

00:11:00.760 Number three, glide has a more experienced team than you.

00:11:04.300 Number four, glide has a well-known reputation.

00:11:07.460 Number five, glide has better attorneys than you. 0.85

00:11:10.780 And number six, glide is more comfortable than you.

00:11:13.900 Why do I finish off with Goliath as more comfortable than you?

00:11:16.960 There is nothing like being number one because when you become number one, here's a few things

00:11:20.900 that happen.

00:11:21.340 Everybody starts telling you, oh my gosh, you're so amazing.

00:11:23.620 You're so powerful.

00:11:24.340 I love you.

00:11:25.260 I've never met anybody like you before.

00:11:26.960 You're so this.

00:11:27.860 I feel like you're better than everybody else in the business.

00:11:30.420 And this stuff is the worst thing you need to hear.

00:11:33.100 Because if you start hearing this stuff and you believe it, you are in deep trouble.

00:11:36.680 You see, you don't hear when you're coming up because you want to hear it.

00:11:39.500 Once you hear it, then your stomach's full.

00:11:41.480 So how do you make sure your stomach doesn't stay full?

00:11:43.680 Very few Goliaths stay hungry for a long time.

00:11:47.780 You need to know that.

00:11:48.680 That is a known.

00:11:49.980 Very few.

00:11:51.000 Some stay number one for a few years.

00:11:53.740 Some stay number one for maybe a decade.

00:11:55.940 Not a lot of people stay number one for multiple decades.

00:11:58.600 It just doesn't happen because eventually you make some cool friends.

00:12:02.000 You hang out with celebrities.

00:12:03.600 You have some celebrities on speed dial with your phone.

00:12:06.100 They text you back.

00:12:06.920 You show your friends, look who just texted me.

00:12:08.480 I'm so cool.

00:12:09.680 And people are like, oh my gosh, he's connected to this guy.

00:12:12.380 And you know, did you see I was at this party yesterday.

00:12:14.540 Let me tell you who I was playing poker with.

00:12:16.180 That's just small talk.

00:12:17.780 No one, you know, a guy that wants to go and be the real giant Goliath, he doesn't give

00:12:21.800 a crap about celebrities and all this stuff.

00:12:24.300 It's just friends, relationships.

00:12:25.720 I don't need to brag about it to you.

00:12:27.320 I'm trying to do something big with my life.

00:12:29.260 Of course I'm going to be friends with these guys.

00:12:31.220 What do you think they want to do?

00:12:32.400 Do you think they want to be friends with schmucks? 1.00

00:12:34.240 No, they want to be friends with people that are also performing.

00:12:36.820 Yes, that's inevitable.

00:12:37.800 That's a given.

00:12:39.060 That's a different level of Goliath, right?

00:12:41.200 Which leads me to you knowing these things about Goliath.

00:12:43.820 Goliath has everybody telling him he's amazing.

00:12:46.600 Goliath hasn't worked as hard as he once did.

00:12:49.700 Goliath isn't in touch with the current market like he once was.

00:12:53.580 Goliath doesn't speak to his customers directly.

00:12:56.100 He's very difficult to get a hold of.

00:12:58.420 They have so many different assistants and people you got to go through before you get to them.

00:13:02.940 They don't respond to messages on social media.

00:13:05.840 Goliath is Goliath.

00:13:07.340 I am the greatest.

00:13:08.320 You are so lucky to be in contact with me.

00:13:10.480 That's a Goliath.

00:13:11.480 That's how they think.

00:13:12.540 That's why David beats Goliath, right?

00:13:14.560 Next.

00:13:15.220 Goliath isn't as nimble as you.

00:13:17.400 Goliath can't screw up.

00:13:18.680 Let me explain what happens when you're number one.

00:13:20.180 You know what happens when you're number one?

00:13:22.120 All the cameras on you.

00:13:24.620 Every single one of them.

00:13:26.160 Everyone's watching you to make a mistake.

00:13:27.780 So you know what happens to Goliath when all the cameras on them?

00:13:30.580 They live in a bigger box now.

00:13:32.920 Now they really start living in a box because whatever I say is held against me.

00:13:36.980 I can no longer be irresponsible.

00:13:38.660 I can no longer be a little chippy.

00:13:40.360 They're going to watch everything I say.

00:13:42.120 People write about me and they have to be so proper.

00:13:44.820 And they forget that when they were coming up, they were not proper.

00:13:47.620 They were crazy.

00:13:48.840 They were weird.

00:13:49.480 They were nimble.

00:13:50.400 They were off.

00:13:51.620 They were a little bit irresponsible.

00:13:53.340 And people said, man, this guy could go way off all of a sudden if I say something wrong to him.

00:13:57.040 But they lost that sizzle.

00:13:59.160 They lost that sizzle.

00:14:00.460 By the way, even the Goliaths watching right now, they say, that's right.

00:14:04.360 I used to be like that.

00:14:05.480 And you know what?

00:14:05.980 I'm going to get back to being like that.

00:14:07.300 You can't.

00:14:08.760 You cannot.

00:14:10.340 You're afraid.

00:14:11.480 They can't do it.

00:14:12.340 Goliaths cannot do it.

00:14:13.600 They say they can do it.

00:14:14.560 They won't be able to do it.

00:14:15.420 You don't know why they won't be able to do it.

00:14:16.680 I won't get deep into that topic here.

00:14:18.400 Why they won't be able to do it.

00:14:19.580 But they got a lot to lose.

00:14:21.240 Goliaths can't recruit the crazy ones.

00:14:23.980 Let me explain to you why Goliaths cannot recruit the crazy ones.

00:14:27.140 Zlatan recently signed with the LA Galaxy for $3 million.

00:14:30.380 You know what China offered him the same time?

00:14:32.640 A two-year contract for $100 million.

00:14:34.920 He left $97 million on the table.

00:14:38.380 Do you know why?

00:14:39.120 Because Zlatan's not trying to go play for Goliath.

00:14:42.520 Zlatan's not just doing it for money.

00:14:44.660 Zlatan wants to do something that's never been done before.

00:14:47.380 And that's bringing football to America.

00:14:49.620 That calls it soccer.

00:14:50.780 Zlatan's on Jimmy Kimmel.

00:14:52.000 And Jimmy Kimmel says, Zlatan says, you know when I play football, Jimmy Kimmel says, we call it soccer.

00:14:58.160 He says, you can call it whatever you want.

00:14:59.540 It's called football.

00:15:00.480 And it's the most popular sport in the world.

00:15:02.040 Jimmy says, you're right.

00:15:03.820 Zlatan's bringing swagger to LA.

00:15:05.440 Zlatan wants people to, he's got bigger plans on what he's doing.

00:15:09.080 Goliaths can't recruit regular crazy ones.

00:15:12.360 You can't recruit crazy ones.

00:15:13.820 Because to them it's not just money.

00:15:15.280 See, Goliaths try to recruit based on money.

00:15:17.080 We'll give you this.

00:15:17.640 We'll give you that.

00:15:18.460 You know, the guy that wants to face off Goliath is like, what are you talking about?

00:15:22.180 I don't care about that.

00:15:23.400 I want to do something that's never been done before.

00:15:25.220 I've recruited many, many different people.

00:15:27.240 And when it comes down to the conversation, that it comes down to them wanting to run with somebody like us,

00:15:31.560 that we're coming up.

00:15:32.080 We're not the biggest.

00:15:32.860 Far from it.

00:15:33.460 There's a lot of people bigger than us.

00:15:35.440 But we're the fastest growing one.

00:15:36.900 And when I sit down and I tell them, I say, look, in order for you to come with us, you have to have courage.

00:15:42.380 If you don't have courage and you'd rather work with the biggest guys in a marketplace, we're not it.

00:15:47.340 But if you're somebody that deep down inside, you want to work with the smaller guys that's coming up faster than everybody else

00:15:53.260 and putting fear into everybody else, and you want to be a hero on that kind of an organization, we're it.

00:15:58.420 Who do you want to be?

00:15:59.260 And you see them in front of me, they talk like, yeah, you know, this is behind me.

00:16:03.320 They're trembling, so scared.

00:16:05.200 Because what if all of a sudden this thing gets scary and they have to call their mommy and say, mommy, I'm scared.

00:16:10.480 It's not for you.

00:16:11.480 That is not for you.

00:16:12.620 But the ones that are crazy is like, that's exactly what I want.

00:16:16.480 I want to run with somebody like this.

00:16:18.300 It's a different mindset.

00:16:19.300 I can't describe to you unless if you've been in a position like that, then you know exactly what I'm talking about.

00:16:23.400 Now, here's the thing.

00:16:24.040 Last but not least, no matter how much smack we talk about Goliaths, let me put something.

00:16:27.840 Let me simplify something here for you.

00:16:29.980 He's still Goliath for a reason.

00:16:32.060 Whoever you're facing in your office that you want to beat, there's a reason why he's the Goliath of the office.

00:16:36.080 There's a reason why he's the Goliath of the industry.

00:16:37.900 There's a reason why he's the biggest, the number one, the best at whoever it is, whatever marketplace you want to compete against.

00:16:43.180 He didn't get there by pure luck.

00:16:45.000 He knows what he's doing.

00:16:46.100 So if you get a little too comfortable thinking, oh my gosh, I can beat this guy, no problem, you're going to lose in no time.

00:16:53.120 Because Goliaths are very sharp, still, you know what you have, an edge over them, but you can't underestimate any one of them.

00:17:00.060 They still are there and have a lot of experience over you.

00:17:02.440 So now, having said all this stuff here, let me get into the 14 things you need to know if you want to face off your Goliath.

00:17:09.280 Number one, you need to know your weaknesses.

00:17:11.120 A lot of times we know our strengths, but you need to know your weaknesses.

00:17:13.760 Here's my weakness, here's my weakness, here's my weakness.

00:17:17.000 Here's your weaknesses, here's your strength.

00:17:18.720 You need to know your Goliath's weaknesses and strength.

00:17:21.840 Let me simplify it for you.

00:17:23.120 So again, number one, your weaknesses and strength, Goliath's weaknesses and strength.

00:17:28.260 You cannot face against his or her strength, because you will lose.

00:17:33.500 Let me explain, if you and I are going to fight, and I am known for my kick is the best kick in MMA.

00:17:40.020 Best kick.

00:17:40.720 I crush people's ribs, and I have the best kick.

00:17:43.980 You cannot say, I'm going to go get better than patting kicks.

00:17:46.940 No.

00:17:47.540 You got to get better in my, you know, maybe on the ground game.

00:17:51.180 You got to get better in the stand-up game.

00:17:53.420 You got to get better with your fight.

00:17:54.900 You got to get better with your, you got to have something that I'm weak in, and you become the best in.

00:17:59.520 Then you face off in that area.

00:18:01.300 So number three is, take three areas that you can master, that's their weaknesses, your strength, and take it to a whole different level where you're the best in the marketplace in that.

00:18:12.080 Okay?

00:18:12.560 Again, your weakness and strength, number one.

00:18:15.400 Your competitor's weakness and strength, number two.

00:18:18.200 Match your strengths and take it to a whole different level against their weakness.

00:18:22.420 You do that, and then battle in that area.

00:18:24.940 Number four.

00:18:25.960 Don't try to be galite. 0.98

00:18:27.440 I see a lot of people, I was in a training one time years ago, and the speaker said, model everybody.

00:18:33.240 Model everybody.

00:18:34.120 Model everybody.

00:18:34.780 And I'm like, you know what?

00:18:35.340 I don't want to model everybody, because if I model somebody, I can't beat the model.

00:18:38.760 What do you mean model everybody?

00:18:40.020 Kobe modeled Jordan. 0.79

00:18:41.020 He's not going to beat Jordan.

00:18:42.700 You model, model.

00:18:43.600 There's a few moves and stuff that I can learn from that person, but I want this.

00:18:49.480 However, I can't say, I'm going to walk like him, I'm going to talk like him, I'm going to think, I'm going to...

00:18:54.460 No, you can't do that.

00:18:55.780 It's got to be that you cannot be and look like galite and face off galite. 0.72

00:19:00.020 Number five.

00:19:01.040 As galites get bigger, they tend to generalize, and they specialize less.

00:19:06.200 Let me explain.

00:19:08.060 When companies get bigger, they all of a sudden want to be everything to everybody, right?

00:19:12.260 Well, we're going to sell this, and we're going to sell this, and we're going to sell this, and we're going to sell this.

00:19:18.600 No problem.

00:19:19.440 Let them do it.

00:19:20.240 That's when you catch up.

00:19:21.720 Because for you, you let galites generalize, you specialize.

00:19:26.480 You specialize.

00:19:27.860 You specialize in one area.

00:19:30.100 Let them generalize.

00:19:31.720 And then when they're generalizing, they're growing like this, but you're growing like this.

00:19:35.120 And then you catch up when you're specializing.

00:19:38.120 Then all of a sudden, boom.

00:19:39.880 You decide at that moment what things to pivot, but you've got to catch up.

00:19:44.180 In order to catch up to your guy or gal that you're competing against, you've got to specialize.

00:19:48.840 Don't get caught up trying to be everything to everybody and sell every single product.

00:19:52.540 Number six.

00:19:53.180 Be a niche player.

00:19:54.680 Have galite compete with you in areas their weekend.

00:19:58.900 Again, I talked about that briefly earlier.

00:20:00.740 Be a niche player.

00:20:01.340 Number seven.

00:20:02.340 When you're small, appear bigger.

00:20:04.560 Don't walk around being afraid.

00:20:05.900 If you're afraid, they're going to kind of see that you're intimidated by them.

00:20:11.080 When you're small, walk tall.

00:20:13.220 You know what I'm saying?

00:20:13.800 It's okay.

00:20:14.700 Who does he think is?

00:20:15.620 Just walk tall.

00:20:16.340 You're okay.

00:20:17.320 Have some confidence.

00:20:18.720 I remember when we first started financial from PHP.

00:20:22.380 We didn't have a big headquarters.

00:20:23.800 We had a small headquarters.

00:20:24.720 I've got to make a statement.

00:20:26.360 I went and got a massive office space from a former billionaire in an area that was the financial capital of the community.

00:20:33.160 I was in a target marketplace that rubbed a lot of people the wrong way.

00:20:36.960 And they said, did you see the office Pat got?

00:20:39.240 Everybody talked about it.

00:20:40.400 When you're small, you've got to appear bigger.

00:20:41.560 And by the way, we had nobody working in that office.

00:20:44.400 If you were ever in the office, it was empty half the time.

00:20:46.900 It wasn't like a smart financial decision.

00:20:49.260 It was a statement.

00:20:50.340 By the way, I could have been wrong on that statement.

00:20:52.880 And people could have said, he never should have made that decision, etc, etc.

00:20:56.040 I could have been wrong in that statement.

00:20:58.100 But I had to make that statement for people to realize I'm trying to compete with everybody.

00:21:01.320 Next, keep a low profile initially.

00:21:04.020 This kind of contradicts what I just said.

00:21:05.840 You still want to keep a low profile.

00:21:07.300 Meaning what?

00:21:08.240 Don't be too rowdy and don't rub too many people the wrong way.

00:21:10.720 You just have to get better.

00:21:12.120 Your goal at that time is to get better, better, better, better, better, better.

00:21:14.600 Because you want a lot of people helping you out.

00:21:15.920 You're going to need a lot of help.

00:21:17.260 So you want to stay low.

00:21:18.360 Don't be too loud with calling everybody out.

00:21:20.660 Just get better, better.

00:21:21.500 Because you need some alliances until you get bigger.

00:21:24.200 Then people can say who you are.

00:21:25.420 Then you're going to be pretty noisy because you can't help it at that time.

00:21:28.320 Your number is going to be noisy for you.

00:21:29.540 Number nine, move quickly, move fast.

00:21:31.160 Let me simplify some for you.

00:21:33.580 If there's anything you need to know about the guys that are getting bigger, they can't

00:21:37.540 move as fast as you.

00:21:38.640 You can move much faster.

00:21:39.780 If there's one expectation I have here with the people I work with is the following.

00:21:43.300 I will not compromise speed.

00:21:45.340 I don't care how much bigger we get.

00:21:47.240 I'll sit in our executive meeting and I'll say, listen, faster, faster, faster.

00:21:52.480 I don't want us to be getting slower just because we're getting bigger.

00:21:55.980 I want speed.

00:21:56.960 I want execution.

00:21:57.920 I want efficiency.

00:21:58.720 But you can't have all of it.

00:21:59.660 I want all of it.

00:22:00.420 I am greedy in these three areas.

00:22:03.240 I want speed.

00:22:04.360 I want execution.

00:22:05.460 I want efficiency.

00:22:06.340 And I want it now.

00:22:07.340 You understand me?

00:22:08.000 I want the best things now.

00:22:09.660 Pat, it's too hard.

00:22:10.720 You're putting pressure.

00:22:11.660 I don't care.

00:22:13.100 You do whatever you want to do.

00:22:14.260 I don't care what time you do.

00:22:15.360 I don't care what things you do.

00:22:16.420 I don't micromanage you.

00:22:17.620 But these three things we're going to be doing.

00:22:19.940 Because those are the things that you're going to have an edge when you face off somebody

00:22:22.640 much bigger than you.

00:22:23.340 Next, if they come out with a new product, if Goliath comes out with a new product, you

00:22:27.940 don't need to jump the gun and mimic them with that same exact product.

00:22:31.720 Because then it becomes, me too, me too, me too, me too, me too, me too, me too.

00:22:34.920 Me too, me too doesn't beat Goliath.

00:22:36.620 Okay?

00:22:37.260 You got to be different to beat Goliath.

00:22:38.780 Next point.

00:22:39.720 Partner up with a competitor who shares a common enemy as you.

00:22:43.360 As Goliaths become Goliaths, they create a lot of enemies.

00:22:46.680 Go befriend their enemies.

00:22:47.940 It's very simple.

00:22:48.600 Because they also want to beat the same target here, right?

00:22:51.400 Go befriend their enemies.

00:22:52.600 Next, study history.

00:22:54.140 Similar to what Tiger Woods talked about earlier, have a sense of the historic study history.

00:22:58.440 You got to study history.

00:22:59.860 You can't just get cocky and arrogant and think you're going to beat them no matter what.

00:23:03.280 You got to study a lot of history.

00:23:04.920 Because this stuff is not easy.

00:23:06.520 This is a lot of work.

00:23:07.680 And there's a lot of people that want to put you out.

00:23:09.300 Number 13, let other competitors wear them down.

00:23:14.160 Let me explain to you what this means.

00:23:15.780 Let other competitors wear them down.

00:23:17.800 So, LeBron James, everybody wants him to come to L.A. and play for the Lakers, including myself.

00:23:22.860 I'm a diehard Laker fan, and I know I want LeBron to come to the Lakers.

00:23:26.800 It would be great if we have him and Kawhi Leonard.

00:23:28.380 Now, if LeBron James sticks to his narrative and sticks to his philosophy, which has worked for him.

00:23:36.560 He's been to seven, eight, nine straight finals.

00:23:39.320 He's the greatest.

00:23:40.220 He's this, this, this.

00:23:41.320 No, LeBron's very strategic.

00:23:43.740 LeBron doesn't need to go to the West.

00:23:45.520 You know why?

00:23:46.440 Because LeBron says, oh my gosh, there's four teams in the West that could potentially beat me.

00:23:50.400 So, guess what?

00:23:51.180 I don't need to worry about ever going into the West.

00:23:53.660 Why would I put myself through that misery where I'm tired by the time I get to the finals?

00:23:57.880 I'm going to stay in the East.

00:23:59.420 First round's going to be easy because the Eastern Conference hasn't had real competitors since the 80s when it was the Knicks, you know, the Bulls and the Pistons.

00:24:09.960 They haven't had it for a while.

00:24:11.580 I'm just going to stay here.

00:24:12.840 Let them kill off each other and then I'll just have to face one of the best teams in the West.

00:24:17.320 That's LeBron.

00:24:17.960 So, as much as everybody would like for a LeBron to go to the West, you really think he's going to do that?

00:24:22.820 If he does it, respect from me to you.

00:24:24.800 I think he's going to stay somewhere in the East, maybe even go to the 76ers if he sticks to the same narrative of staying in the East.

00:24:31.580 So, let your competitors, let other competitors fight them off.

00:24:35.640 You just keep focused on improving yourself.

00:24:37.240 And last but not least, point number 14.

00:24:38.840 It's probably more important than all the other 13 points combined.

00:24:43.040 And by the way, when I tell you what number 14 is, you will say, my gosh, I cannot believe how much this makes sense.

00:24:48.800 You will see why Barack Obama, a one-term senator, beat John McCain with a resume the size of a Bible.

00:24:55.000 Why he beat Mitt Romney, a quarter-billion-dollar network.

00:24:57.780 Why Trump, never been in politics ever before, beat out Hillary Clinton, Jeb Bush and all these other candidates.

00:25:03.720 How is that even possible?

00:25:05.180 You will find out why a small player like Apple came out going up against a giant IBM.

00:25:10.580 You will find out why some of these guys are coming up and they beat the bigger guys.

00:25:13.760 Because number 14 is that powerful.

00:25:15.680 It is more important than the other 13 combined.

00:25:18.800 And number 14 is a point I will not be sharing in this for obvious reasons.

00:25:22.560 Because every single one of my competitors watches this video and they want to know exactly everything that we're doing.

00:25:27.500 And number 14, I will not give up.

00:25:28.720 However, I may share it with you in a very small group setting.

00:25:31.640 The point is this here.

00:25:33.200 If you are somebody that is listening to this and you're still here with us at the end.

00:25:37.900 And you're sitting there saying, oh my gosh, I got the chills all over my body.

00:25:41.160 This message was directed to me.

00:25:42.640 I actually wonder what you think number 14 is.

00:25:45.680 So I want you to send me a tweet, at Patrick by David, and tell me, Pat, I think number 14 is this.

00:25:50.040 I'm curious to know exactly what you think number 14 is.

00:25:52.660 For some of you that watches and say, Pat, I also want to go buy that Tiger Woods magazine.

00:25:57.380 Well, let me tell you what issue it is.

00:25:58.520 It's June 18, 2001, Newsweek magazine.

00:26:02.920 Let me validate that.

00:26:03.840 Yep, June 18, 2001, Newsweek magazine.

00:26:07.280 And I'm curious to know who's going to buy them.

00:26:09.520 And when you do buy them, I don't own this stuff on eBay or different places you buy it from.

00:26:12.740 When you do buy it, send me a tweet and say, Pat, I buy it or on Instagram.

00:26:15.840 Thanks, everybody, for listening.

00:26:17.560 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.

00:26:22.120 Give us a five-star.

00:26:23.520 Write a review if you haven't already.

00:26:25.020 And if you have any questions for me that you may have, you can always find me on Snapchat, Instagram, Facebook, or YouTube.

00:26:31.060 Just search my name, Patrick by David.

00:26:32.980 And I actually do respond back when you snap me or send me a message on Instagram.

00:26:37.960 With that being said, have a great day today.

00:26:39.700 Take care, everybody.

00:26:40.400 Bye-bye.

00:26:40.660 Bye-bye.

Valuetainment - November 06, 2018

Episode 204： 14 Strategies to Beat Your Competition as an Entrepreneur

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