Episode 401: Think Like A Grand Master Entrepreneur
Episode Stats
Words per Minute
202.63986
Summary
In this episode of Actim, I give a keynote on how to become a Grand Master Entrepreneur. I talk about how to figure out what you want to do next and why it's important to know your next move.
Transcript
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30 seconds, one time for the underdog, ignition sequence start.
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Let me see you put them up, reach the sky, turn the stars up above, cause it's one time
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I'm Patrick Bedevi, your host of Actim, and today you're going to hear a keynote I give
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on Long Beach titled, Thinking Like a Grand Master Entrepreneur.
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Let's just say this keynote on YouTube got a lot of positive feedback from people around
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So if you're an entrepreneur, C-suite executive, salesperson wanting to find out what you want
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to do next, your big next move, this is the episode for you.
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In the game of chess, the average chess player knows their next one, two, three moves, amateur.
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The average chess player knows their next one, two, three moves.
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A pro knows four to five, a master knows six to 10, a grandmaster knows their next 11
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By the way, the same thing you see here with chess is the same thing with the game of life.
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Most people live life, they have no clue what their next 10 moves are going to be.
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They just know their next one, two, three moves.
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A lot of people in life want to do move number 14 and move number two, wrong timing.
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A lot of people want to do move number 14 at move number two, and it doesn't work out
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So this whole game about business is about you knowing your next 15 moves.
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Because it's all about your positioning in a marketplace.
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By the way, almost every single time I talk to somebody and I'll ask them, who do you want
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I want to be these guys that, you know, perfect butt, and I just take a picture and I get
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I just want to walk in places and people take pictures of me.
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I want everyone to know me when I go into the mall or the airport.
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I don't want to go to sleep at night knowing everything's on me.
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I want to go to sleep at night knowing everything's on a guy who's got three people.
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I want to go be part of a company and within it grow up to be a C, I, O, C, T, O, C,
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And I want to own a piece of the company, but I don't want to be number one.
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And within a company, I want to think like an entrepreneur.
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Well, most people are like, well, I like this guy on Instagram.
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It'd be kind of cool if I knew how to take good selfies like her.
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I want to build a company, run it for five years, sell it, get my 20 million, go enjoy myself.
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Somebody wants to buy this domain, $300,000 check.
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Long-term planning, the typical get a job, 401k, all that stuff.
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If I become an influencer and every time people want me to do a certain shout out, $5,000, $3,000, $8,000.
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If I sue the right person, make a couple million dollars.
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There's a lot of people that become millionaires suing people.
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Anybody knows anybody that's made money suing people?
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He says, do you know why kids in America are obese?
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Why are we experiencing so many kids being heavy?
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One guy said, he says, let me show you a statistic.
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Then he shows lawyers go sit at parks all day waiting for a kid to drop off.
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You own land and Walmart says, hey, some of you guys have never been to Palmdale.
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If you have a land, Walmart comes and says, I want this land.
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How many guys have a last name with your family so rich that you know that money's coming
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It's probably more El Chapos than Escobars here.
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By the way, just so you know, it is the easiest time ever in the history of mankind to be
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It's the easiest time ever to be a millionaire.
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You know how celebrities used to be like a person was on TV?
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Because people follow YouTubers more than they follow weather guys.
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Instagram influencers have more following than a weather guy does.
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Just so you know, social media, here's what it did.
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Yeah, PewDiePie is known as much as some of the biggest ace celebrity Hollywood stars in America, in the world.
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Earlier, a guy comes to me and he starts talking to me and he says,
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Hey, you know, Patrick, we were at the, how many guys were at the CEO at the luncheon that they had?
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Who was at this luncheon when this one kid was talking to me?
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He says, Patrick, I can't even tell you've changed my life.
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No one's doing that so far because they just want to come and ask a question because it's another one.
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So I'm thinking like this is getting somewhere.
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If you ever want to buy any real estate in Nevada, Vegas, just call me.
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I said, what you just did to me is like a guy at a bar going to a girl and saying the following thing.
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Your lens here is you're just looking at everybody as a customer.
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Right before me, another guy came up to me and he said, Pat.
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I was 21 years old when I met Eli at an event by LAX airport.
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I'm selling gym memberships at Valley Total Fitness.
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He says, I'm an attorney for, you know, for Hollywood.
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I'm the weekend assistant manager at Valley Total Fitness, right?
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At the end, I'm washing the dishes for this lady.
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He says, Patrick, you can't really help me in any way but one way.
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He says, he did something he shouldn't have done.
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Anybody knows Men's Colony near San Luis Obispo?
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So he says, none of my friends and relatives want to go visit this guy.
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He said, I can't believe you just did that for me.
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I said, buddy, you know, what do you mean I did that for you?
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He says, here's the 600 most influentials name I know.
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You can use my name to call them to help you out with it, whatever you want.
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One of the contacts introduced me to another person who introduced me to another person
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who introduced me to another person who introduced me to another person.
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Because I didn't say, hey, you want to go to bed?
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So, almost everybody in this room, almost everybody in this room, all you have to do
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is just take the lens off you have, put a different lens on.
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Because when you put a lens on, you just look at the world in a whole different way.
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You're not looking at everybody here that I'm just trying to figure out a way what I can
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A lot of people, I listen to their language and I'm like, oh my gosh, this language is
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So, while I'm speaking to the same group, a guy comes up to me.
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If you were in the loan game, what would you do to get customers?
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He says, somebody who is currently a homeowner, has high interest rate, and would like to
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I said, okay, let's go a completely different direction.
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He had a nice watch on, but he didn't have a ring.
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I said, so tell me, you ever want to be in a relationship?
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I said, listen, who remembers when he said top-notch?
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I said, you got to be very careful when you say a word like that, because it's very general.
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Because top-notch has a different meaning for a lot of different people.
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I said, you're just not going to find your girl.
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I said, you have no clue what kind of a girl you're looking for.
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I said, if, by the way, how many of you here know a girl that's 5'7", 5'8"?
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But you know what kind of a lead you can give them?
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One day, you know how guys and girls, we all complain, where are all these great women at?
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I'm telling you, there's no more good women nowadays.
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And we complain, it is not the men or the women.
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I could care less about nationality because I'm okay there.
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But for me, whatever you are, you got to learn to make my dad's cooking.
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I don't care what it is because I want the house to be good smelling food.
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If the house smells like food, kids come to the house.
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I want you to learn how to make these five, six dishes my dad makes and my mom makes.
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Are you just here to listen to David Goggins or me speak?
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What's the language you got to speak to get what you want?
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He said, do you remember when you made your first million?
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You know how they do the speed round stuff in the interview?
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Tell me the first thing that comes to your mind when you say this.
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It was like, if it was million, I would have slowed down.
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Most people, this is how they compare themselves.
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See, in every single level in life, there is an 80% in that group.
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In this room, raise your hand if you've made less than six figures in 2019 so far.
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And if you come to my meetings, I'm disciplined.
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I can't help you if you're not going to be real with me.
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How many guys have made so far this year between a quarter million to half a million net?
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How many guys have made between a half a million to a million dollars net so far this year?
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Who has already made more than a million dollars this year?
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In the room, the people that raise their hand that are between a half a million to a million,
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The guys that raise their hands between 250 to a half a million, they're in the 10th percentile.
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100,000 below, you are all in the 80th percentile.
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Say I take those six people that made a million dollars this year, net.
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In this room, the minimum earner out of 2,000 people, minimum, net, so far, has made $10 million.
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Most of us say, I'm making more money than my sister.
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I'm doing better than the guys I went to high school with.
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But in the real league, the next league, the reason we're afraid to make this leap, because
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I said, I don't understand what question you're asking.
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When is it a good point for you to say, I'm slowing down?
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I said, didn't you just ask me a question about passion?
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Man, a game is like, who has a favorite board game?
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The best human beings in the world play Backgammon.
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Anybody ever plays a game that you love or you want to keep playing it?
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When you make it a game, it's not about the money.
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It's like, oh my gosh, let me see if I can figure it out so we can do $600,000 this month.
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What if I can figure it out on what we can tweak to make $2 million this year, this month?
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And then you get to a point where now you have the formulas.
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Because you know, if you go to the same formula that I got you from $5,000 a month to $50,000 to $500,000 to $5 million,
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By the way, it's a controversial thing to say with half to 80% of them being Latinos.
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Guys, if a fight broke out, all the Latinos are whooping everyone's ass in the room here.
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Trump, most hated guy in America because all of his peers that he was competing with in their 30s,
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in their 40s, in their 50s, a little bit in their 60s, they stopped and retired.
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This flipping guy is still going at 74 years old.
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You've been flying with a 747 for the last 20, 30, 40 years.
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Why the hell are you still going to be a president?
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So he's not stopping here or here or here or here or here or here.
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Everyone's going to try to stop you at some level.
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Everybody is going to say, by the way, this is what the language sounds like.
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Do you think it's healthy that you're working the way you're working?
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I mean, everybody knows how much money you have right now.
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We don't know exactly, but we know you have a lot of money.
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You know, I don't know if this is like some stuff like it's hypomanic ADHD issue stuff.
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Like, maybe it's like kind of settled down a little bit.
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So at some point, and by the way, you know what's the best thing?
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Guess who it matters the most to when you stop.
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Guess who has to have the right answer on when you stop?
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Who's the only person that matters on when you should stop?
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When my wife and I were dating, I told her, I said, hey, I just want to simplify something
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If you expected me to be home every night at six o'clock, I'm the wrong husband you married.
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You didn't marry that guy because this guy's not going to stop.
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So before we got married, that had to be very clear so she understood what we're doing
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How many guys remember when you went on a date with your wife?
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How many guys remember when you were at a point of making a decision to get married?
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So a couple of things I got to worry about about marrying you is your temper sucks.
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Like I've seen you break some shit before and that's like scary stuff.
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And your mom is going to be a pain in the ass, but I know how to control her.
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I know how to control her because we will probably move a state away from here so she
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And then your sister is a little bit annoying when she brags about her Louis and her USC
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I went in for, you know, Cal State type of stuff, but I can handle it.
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She's fine because she doesn't make more money than me, so I'm not worried about her.
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And you've kind of been with a lot of girls in the past, so hopefully that's out of your
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I probably a 30% chance you're never going to cheat on me.
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Well, you know, you told me you've been with seven men.
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I'm just hoping it wasn't like two at the same time, but who's ever going to find out?
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Oh, would you ever tell me if that ever comes up, kids are going to be embarrassed.
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Oh, but you're hot and you're good in bed, but you're terrible with finances and you have
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this one smell that sometimes like I can't stand.
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Who's ever broken up with somebody for the weirdest reason that you never ever told them?
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Odds are this is not somebody I want to do business with.
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Everything about decision-making process is about odds.
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You need a system that helps you make the best possible decisions with the best possible
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Once you have the system, everything can be flowed through you.
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Everybody wants to say the best skill or the key to success is hard work, marry the right
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If there's one thing I want to pass down to my kids, if there's one thing I want to pass
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down to my kids, it's for them to have a decision-making process that they learn from their dad.
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Whatever they do from there is completely up to them.
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They can figure out what God they want to believe in, what political side they want to believe
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in, what kind of money they want to make, what industry, who they want to marry, who
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But I need this system to be passed down to them.
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But systems is what helps you scale from employee to sales to sales leader to business
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Once you get to this point, I was a terrible CEO at first.
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First, because I didn't pay attention to systems.
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Because systems, what is exciting about systems?
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You know how sometimes you guys go to these conferences, and you're there for three days,
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I'm telling you, you were made to do something big.
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And I was like, oh my gosh, this is just so heartfelt.
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And then you leave, you're so motivated for a day, two days, a week later, like, yeah,
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And then you go to some meetings, we're kind of like, okay, these seven things I do,
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and then you do it, you're like, oh my gosh, I just went from 300,000 to 720.
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So now, effective systems to create momentum, to maintain momentum, then to advance momentum.
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By the way, this is the most annoying phase to be.
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The most annoying phase to be is creating momentum.
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These are the days you work in 18, 20-hour days, and it seems like nothing is going your
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How many of you guys have had a week of hard work and nothing in your business improved?
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And you're like, oh my gosh, what a waste of a month, right?
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But what you're not realizing, if you can't go for a month, your skin is getting thicker.
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And then when you get momentum, if you get cocky, you lose this.
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Do you know why most 50-year-olds don't want to start a business?
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Because at one point they did, and they knew how much it took to create momentum, and
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then they got momentum, and they lost momentum, and they didn't maintain momentum, and they
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went back here, and they don't want to do it again.
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How many of you guys have met some sharp 45, 50-year-old men and women who are not teeing
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Their biggest fear is they know what it takes to create momentum.
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Remember how we talked about marriage relationships?
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People don't tell everything to each other, but we make the decisions.
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No 50-year-old's going to tell you, dude, the reason why I don't want to do this is because
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And they'll find a different excuse to go on around.
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You'll find a way to manipulate yourself into sabotaging yourself on why you shouldn't
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Your language is preventing you from getting to the next level.
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And then advancing momentum, this is the fun part.
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This is when you make money that you know you're not worth.
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Like you're like, babe, did we just make $600,000 this month?
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We have no clue what the hell we're doing, babe.
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People are thinking, oh my God, this guy's a genius.
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You were willing to go through the pain of creating and maintaining momentum.
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Now you're getting rewarded at advancing momentum.
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Advancing momentum was like when you seem like you're godlike.
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You come from a planet called, you know, where they produce Zeus and Hercules.
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You know how people say things like, you got to be urgent.
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You got to go, you got to exponentially grow your business.
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I'm going to break speed down to four different things.
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How many in here have a Chevy Astro van that does zero to 60 in 8.1 seconds?
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By the way, Ford Focus does zero to 60 in 8.1 seconds.
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If we would have taken like Ford Focus back to 77,
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How many guys here say, no way in the world, 0.9 seconds?
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How many guys here, based on this, you're like, shit, we're going to 0.9 seconds.
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Most people think it's impossible to go to 0.9 seconds.
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But most people thought this was the fastest car in the world, 8.1.
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Everything about your business is you constantly figuring out ways to tweak your business to increase what?
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When you increase speed, exponential growth takes place.
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Sill is part of functioning speed, but they have a lot of support people that are helping put this event together.
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So the more support equals more functioning speed.
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Processing speed is how quickly you get something from A to Z.
00:35:46.340
Then you get pre-approval for a million dollar loan.
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After the offer, then appraisal, then loan, then this, then that.
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And then 45 days later or three months later, based on how customers thinking about buying their house, you sold the house.
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You try to find a way to increase your processing speed.
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So in every aspect of your business, you've got to measure your processing speed.
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Expansion speed is how quickly you can expand from Long Beach to San Diego to Arizona to San Francisco to Salinas to Bakersfield to Washington to Oregon.
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And sometimes, by the way, people expand way too early.
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There's a timing factor to, like right now, last month we sold 6,540 insurance policies in one month.
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We're the largest financial marketing organization in America that's not owned by anybody.
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Meaning we're not part of like a big New York life.
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India has the most life insurance policyholders in the world.
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20 countries today want us to go into their countries.
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Because I still have a bunch of markets in the U.S. I'm not in.
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If I all of a sudden stretch my leaders too thin and I move him to India and I move him.
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So expansion speed has also got to be calculating on how you do it.
00:37:24.980
They lose their savings that they have in place.
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Timing speed, the easiest way to tell you is this.
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If your wife is changing and you're in the bedroom and she's changing and you all of
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a sudden say, babe, do you think we need to go get some personal trainers?
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I'm just honestly, I was just thinking about we should get some personal trainers and work
00:38:07.800
When do I go and give the recognition for my staff?
00:38:12.500
When do I give the criticism to this one guy that's got to work in this area?
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And by the way, the last one, you can't learn it for a long time.
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You're going to make a lot of mistakes in this.
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You go back in every aspect of your business, right?
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That'll determine how fast you're growing and what else you need to grow even faster.
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Without systems, you have limited chances to sustain growth.
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What's the key word in this entire sentence here?
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Anybody ever heard somebody that made a million dollars and they never made it again?
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Anybody heard of anybody that made $100,000 in a month one time and they never did it again?
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Systems are like, oh my gosh, just don't drop that word systems to me.
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Anybody that builds big businesses, they spend hours with you.
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They'll spend hours and hours talking about systems to each other.
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These are people that build billion dollar businesses.
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All the other motivational conferences, they just want to motivate and motivate and motivate.
00:39:39.780
Real businesses, we're talking about this kind of stuff.
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It's kind of like, I don't really know what my role is as a CEO.
00:39:53.040
Until finally, after a lot of research and time I spent with other CEOs, I came with a basic formula for myself.
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Whatever I do on the bottom here, helps my business grow like this.
00:40:13.780
Okay, what if we can figure out a way to collaborate and work together?
00:40:23.180
And all of a sudden, you meet somebody that introduces something.
00:40:29.400
David Finnamore comes back and we have a negotiation together.
00:40:34.720
I'm introducing you to the biggest insurance companies in the world.
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But I'm not cutting you a penny to do business with you on this.
00:41:01.480
So one of the biggest guys who has access to $2 billion of capital calls him saying,
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we're looking to invest into an insurance agency.
00:41:12.580
So the guy I negotiated strong with recommends me to this other guy.
00:41:19.940
Because at this point, I'm kind of like, why would he ever refer to me?
00:41:23.680
He said, well, he told me you're a pretty strong negotiator.
00:41:27.760
He says, well, if we want a CEO to invest in, we want somebody that's going to hold the fort down and we feel good about you.
00:41:34.700
And then they brought me Oscar De La Hoya, Gabrielle Brenner.
00:41:39.960
But BizDev, if I don't do the handshaking, tell me your story.
00:41:44.940
Both are necessary, but neither makes you explode as a company.
00:41:51.460
These two, this is where you explode your business.
00:41:59.100
The next thing you're launching in your office.
00:42:01.640
To motivate your salespeople, to motivate your sales leaders, to motivate your employees, to motivate your executives, to motivate everybody.
00:42:11.260
The next thing you're launching to drive your customers, what are you going to be driving there?
00:42:17.200
What do you do in the month of January to bring customers based on your season?
00:42:21.300
What do you do in February, March, April, for the longest time in our business, June through August seasons were weak.
00:42:31.480
I made a whole launch on June, July, August, and December, January, February, because those three months I kept everybody active.
00:42:39.600
It took up our revenues, I think we're at 17 quarters in a row of selling more insurance policies than the quarter before.
00:42:52.520
How many of you guys here like to keep your kids distracted?
00:42:58.320
How many of you guys think distractions are bad things?
00:43:03.520
I love distractions, but positive distractions.
00:43:08.960
Typically, parents will tell you what is the best distraction for kids.
00:43:16.280
Just put your kids there and it's a good distraction away from not doing drugs and joining gangs.
00:43:33.300
And they kind of make it to the next level, right?
00:43:35.880
Your employees, your salespeople, your customers, they all need positive distractions.
00:43:41.140
Most CEOs and founders and sales leaders don't have enough distractions for their leaders.
00:43:47.300
They keep losing employees because they're not positively distracting their people.
00:43:51.340
Believe me, this guy was the expert because I lost people regularly my first tenure in business.
00:43:58.680
You can go all the way up to being a president if you get good at this.
00:44:03.940
You can go all the way up to being a president if you're good at this.
00:44:06.400
If you become good at developing leaders, you're an asset to every industry.
00:44:13.100
Anybody that became a CEO of Uber and all this other guy, you think the CEO's expertise is rent, you know, getting a cab and all this other stuff?
00:44:21.700
Those people get hired because they mastered leadership development.
00:44:24.780
They know how to recruit people and build them.
00:44:28.460
People wanted to go work with Jobs because Jobs was building leaders.
00:44:32.400
Like, oh my gosh, I want to work with this guy.
00:44:35.520
They were working with Microsoft and they're going to Bezos.
00:44:38.620
Man, I just want to be able to work with Bezos because they're building leaders.
00:44:42.280
The moment you get good at that place, your business doesn't grow like this.
00:44:46.680
Your business grows, foom, foom, out of control.
00:44:49.580
Because now you've got 10, 20 generals that think, speak, negotiate like you.
00:45:00.160
Especially if you're teaching the right values and principles.
00:45:02.840
That's a very dangerous company to compete with.
00:45:05.700
People are frightened of going up against the company that the people at the top know how to develop leaders.
00:45:21.220
Am I good at shaking hands and going through people and meeting people?
00:45:24.440
Do we constantly think about our next innovative campaign seasonally, monthly, employee, sales?
00:45:34.300
Am I good at the small one-on-one conversations?
00:45:38.740
Do I pull the person aside and say, John, can I talk to you?
00:45:44.160
Look, one thing I noticed about you is you like respect, right?
00:45:48.280
What was that all about in front of your employees?
00:45:53.640
You know that person will run through a wall for you.
00:45:57.020
You got to go take that person to have coffee with them right now.
00:46:00.540
And I'm going to walk the other way so the person doesn't think that I told you to do this.
00:46:04.740
And then that other person, you know that person's mom just passed away two weeks ago.
00:46:16.400
Dude, you keep telling me you want to get to the next level.
00:46:18.460
To get to the next level, you got to be better with people.
00:46:26.340
You know the department wouldn't be the same without you.
00:46:37.860
Those small eight-minute conversation, nine-minute walk, three-minute walk.
00:46:40.980
All of a sudden, everybody's doing that in your organization.
00:46:47.320
How many stuff is just kind of going like this to you?
00:47:06.100
You got to figure out a better way of telling your real story.
00:47:09.920
Most people don't know how to tell the real story.
00:47:14.720
If you want to, are you going to send your kids to college, Patrick?
00:47:19.580
How many of you guys think I'm going to send my kids to college?
00:47:25.260
How many of you guys say Pat's not going to send his kids to college?
00:47:30.000
If my kid absolutely doesn't want to go to college, you think I'm going to force him?
00:47:36.700
If my kid wants to go to college, you think I'm going to have him go?
00:47:41.480
But you know what I'm going to tell him up front?
00:47:45.800
In college, a 2.0 GPA is the same thing as a 4.0 GPA.
00:47:55.540
When you go to college, you have to befriend the richest parents' kids.
00:48:02.120
Whoever in your class, find out all their last name and find out who their parents are.
00:48:07.480
Number two, the person that's the smartest kid that's tech and is a nerd, very weird,
00:48:16.860
I'm going to tell them exactly who to befriend.
00:48:25.840
Befriend all these guys that are placing people in companies.
00:48:35.700
And then, after college, get your degree so put it on the wall.
00:48:42.140
But make sure you build the right team around you.
00:48:45.200
Because this, right here, is something very few people talk about.
00:48:53.280
Let me tell you, the right team, all day, the right team is game over.
00:48:59.500
Any industry, put the right team together, game over.
00:49:01.940
All I'm teaching people is build the right team.
00:49:05.680
So, right story, right team, right data you study, right strategies, then you predictably scale.
00:49:18.940
I think Albert's got a surprise to make to everybody here, which is going to be interesting.
00:49:24.220
I heard tomorrow you guys got some good speakers that he'll have back here to speak to you guys.
00:49:28.500
But this entire session of me speaking was for you to think about your next what?
00:49:43.420
I cannot tell you how much I respect people who are great students, who keep their word, who are disciplined, who want to commit to their family, who in every aspect of their life, they want to improve.
00:49:59.300
And everything I just explained to you, one time Albert and I were speaking, and I indirectly challenged him in front of an audience.
00:50:23.640
He says, when you said, and I think you even asked me about this a week ago.
00:50:27.100
I think we talked 30 minutes ago, like he asked me a week ago, right?
00:50:32.360
He says, Pat, remember that one thing you said six months ago or four months ago?
00:50:41.400
And he says, you know what I've done the last four months?
00:50:44.260
And he gave me what he did for the last four months.
00:50:51.500
I've never been this good at leading, building, all this.
00:51:05.240
I'm sharing this with you because so many of you can have that kind of a story the next 12, 24, 36 months.
00:51:16.060
Back in the days, only great fighters could kill people.
00:51:19.300
At the moment they came out with the gun, a 5-foot woman, 110 pounds, can go against a guy like me because it's the great equalizer.
00:51:26.160
Today, Facebook, YouTube, Instagram, Snap, all that stuff combined together made the great equalizer where you can go up against celebrities, where you can go up against people that are TV, where you can go up against companies that are 20, 30, 40, 50, 100 times bigger than you because it's the great equalizer.
00:51:43.320
And he and his wife work together very closely and look at what they're built here together.
00:51:46.760
So with that being said, thank you so much for your time, guys.
00:51:51.860
And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.
00:51:59.380
And if you have any questions for me that you may have, you can always find me on Snapchat, Instagram, Facebook, or YouTube.
00:52:07.460
And I actually do respond back when you snap me or send me a message on Instagram.