Episode 205： 7 Steps To Make Millions In Any Industry
Episode Stats
Words per Minute
189.58269
Summary
If I had Jeff Bezos' money, life would be amazing. If I had Warren Buffet's money, I would be a millionaire. But what if I had Elon Musk's money? What if I could figure out how they think and how they process issues? If I could be Warren Buffett's processor, I could make $60B in an industry.
Transcript
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30 seconds, one time for the underdog, ignition sequence start, let me see you put em up, reach
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the sky, turn the stars up above, cause it's one time for the underdog, one time for the
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I'm Patrick Bede, your host of Value Team, and today we're going to talk about 7 steps
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I often hear people say, man, if I had Jeff Bezos money, life would be amazing.
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Man, I wish I was wealthy like Warren Buffett or Bill Gates or Zuck or any of these guys,
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Elon Musk, I would love to have their kind of money.
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If there's anything you would want, the right answer is the following, I wish I could figure
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out how they think and how they process issues.
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If you had Elon Musk's processor, Warren Buffett's processor, you're going to make money, and
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by the way, you're actually going to enjoy life even more, cause your processor is what
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you're going to have for the rest of your life.
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Look, last week I was doing a podcast, and on the podcast I was asking a very good question.
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I said, we're going to turn it into an episode.
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Pat, if you had to do it all over again, and you had to get involved in an industry, and
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it cannot be insurance or financial services because that's what I'm a part of, what industry
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I think we put way too much emphasis into industry.
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Can you imagine if you would have said, imagine I'm doing a video 10 years ago.
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I think the industry where you can make $60 billion is go try to beat cab drivers.
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You would laugh at me if I, honestly, would you have not laughed at me if I said that?
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It is not about, oh my gosh, it's got to be technology or it's got to be a social media.
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Any industry, clothes, shoes, Al Bundy, shoes, Zappos, a billion dollar sales, a shoe salesperson
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What can I do in any industry, pick any one of them, where the delivery of the product
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So for instance, we like Uber because if I want a cab, I got to call an 800 number.
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Then the cab driver either shows up or doesn't.
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Because maybe he doesn't show up because no one's going to give him a two star or a one
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But in Uber, boom, condensed time frames, I use Uber.
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You got Netflix, condensed time frames, I don't need to go to Blockbuster, I don't want
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to get out of my house, change my clothes, go into public, rent something, decide, Netflix,
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Everything is about condensing time frames, right?
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Matter of fact, the industry you're a part of right now.
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Say you've already chosen the industry to be a part of and let's work with you first.
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First, everybody else, you can apply the same exact thing to someone that hasn't yet chosen
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And you can apply this to the industries you choose to be a part of.
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Next, the person is going to find the cab driver.
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See if you can eliminate which one of these steps on the list.
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You have no idea how many companies, at one point when they got big, they started hiring
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And they hired a guy that came from Harvard or Yale or Princeton to make himself seem very
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They had all these laws and regulations and rules and all this other stuff.
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And they added this new paperwork that you got to do that's taking so much time that if
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you eliminate it, you save a bunch of time for your guys or whoever that's doing the
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Number four, number four, is minimize one of the steps.
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What can you do to shorten the timeline on one of the steps?
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Number three, which step on the process can be eliminated?
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Number four, which of the steps can be shortened?
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Number six, after beta testing, come back and revisit and see what adjustments and pivots
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And number seven, go implement the new process that you've put together.
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This is one of those videos where you watch this, and I would say 5% of people that are
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watching this, they're going to say, oh my gosh, I just figured this thing out.
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I'm not reading a book and telling you, oh, this is it, I'm doing this.
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I run a business and I had a hard time selling five life insurance policies.
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Life insurance business is the company, that's what I do without a degree.
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Because we constantly, in our company, over and over and over and over again, we go through
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these processes and meetings, and we say, identify the process.
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Six, let's revisit and see how it went and make some pivots and adjustments.
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This is what's made me tens of millions of dollars, because this works.
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This can make you so much money if you use this either into whatever business or industry
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you choose to be a part of, or the current industry you're a part of.
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And by the way, for some of you that are saying, Pat, I want to kind of go a little bit deeper
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I'll give you a couple book recommendations, or maybe one at least, that you can read that
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And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.
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And if you have any questions for me that you may have, you can always find me on Snapchat,
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And I actually do respond back when you snap me or send me a message on Instagram.