Valuetainment - March 16, 2021


Income Gap Between The 1% and The Rest Explained


Episode Stats


Length

6 minutes

Words per minute

216.64363

Word count

1,306

Sentence count

117

Harmful content

Hate speech

3

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

The gap between the 1%ers and the 10%ers is the most important thing you need to know in order to beat your biggest competitor. The gap is the difference between the top 1% and the bottom 10%.

Transcript

Transcript generated with Whisper (turbo).
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 So I want you to think about your biggest competitor, where to you, that person's like,
00:00:03.120 oh my gosh, I can never beat him because I feel they have a special gift that I don't have.
00:00:08.220 Pat, you don't understand, there's no way I can beat this person. Today I'm going to share with
00:00:12.000 you why you can beat that person and how they beat you by one simple thing called the gap.
00:00:18.420 I'm going to explain this thing called the gap. And by the end, when you see this,
00:00:24.100 a Picasso painting isn't going to make you as much money as this one principle that I'm going
00:00:29.100 to explain to you in a second. And at the end, I'm going to give you the PDF for you to get access
00:00:32.800 to as well. So let's get right into it. So Mario, if you come a little closer, I want you to look at
00:00:36.480 this here. Okay. Here, I have four different charts at the bottom. You're looking at first quarter Q2,
00:00:42.420 Q3, Q4 of 2021. And it goes Q1, Q2, Q3, Q4 of 2022, et cetera. The dark red is the top one percenters 0.86
00:00:51.620 of your industry. Maybe that's the person you compete up against that intimidates you the most
00:00:55.820 where you say, there's no way I can compete with this person. Then you got the top 10 percenters.
00:01:00.380 These are people that are making quarter million to half a million dollar income. Maybe there are
00:01:03.860 guys that are maybe ahead in the small business, but they're not getting the one percent. And you
00:01:07.760 got the 20 percenters and you got the 80 percenters, which is the ones at the bottom of your industry.
00:01:11.600 They're not really your competitors. Maybe you're a part of it and you want to kind of work your way
00:01:15.340 up. Now let's get right into it. So what makes the one percenter, the one percenter? If you come
00:01:20.640 over here on this side, I have a ranking from zero to 10. What the zero to 10 shows is the level of
00:01:27.140 focus of people at different levels. Eight means that's their level of focus, meaning they are very
00:01:34.200 focused. And then you have 10 being at the highest level. If you look at the one percenter, no matter 0.89
00:01:39.180 how much crisis happens in their life, they don't go below eight. They go up, crisis happens, setback,
00:01:46.280 they go up, setback, they go up, setback. No matter what happens, their worst they ever do
00:01:53.480 is an eight. The worst they ever do is an eight. The best they get to is what? A nine and a half,
00:01:59.420 not 10. No one gets to perfection, but it's eight to a nine and a half. Now watch this.
00:02:03.760 The top 10 percent of your field, whatever field you're a part of, they start off the year at a seven.
00:02:10.200 So they go from seven and they tie the top one percent at focus at the same exact level. You see,
00:02:15.960 it's not where you beat them there because you work your one day, your two weeks, your one month
00:02:20.820 at the same level as the person in your industry. That's the best at what they do.
00:02:25.020 But when one crisis happens, a breakup, look what the 10 percenters react. Boom, they drop off. 1.00
00:02:31.240 And then boom, they go to success. Boom, they drop off. Look how bad the drop off is.
00:02:35.160 And they go all the way down to a six. So maybe their high is a nine and a half
00:02:39.280 tied with the top one percent, but their drop off is a six, way below what the top one percent does.
00:02:46.340 Now let's look at the 20 percent. The 20 percent, they kick off the year. When the year starts off,
00:02:50.560 they're barely waking up. Oh, you know what? Let me get to work while the top one percent's already
00:02:54.300 have a strategy they're executing. They go up, they go up, they go up, they get close to who?
00:02:59.060 Everybody else. But a crisis, a breakup, heartbreak, something happens. Boom,
00:03:04.440 they drop all the way down. It's catastrophic. They emotionally cannot handle it. They mentally
00:03:09.720 cannot handle it. They do all, they do all, they do all, they do all, they do all. They feel bad
00:03:13.900 for themselves. And they go all the way down to four. Look how long it takes to recover, to come back
00:03:19.920 up. It takes a long time. They come back and tie up again. Boom. Now the crisis, they take place.
00:03:26.860 The top one percent, just a small bit dip. The top 10 percent, a slight dip. But look at the 20 percent.
00:03:31.880 Boom. They drop all the way down to four and a half. And then they go at it again. Now obviously
00:03:35.840 you've got the 80 percent, which is the majority. They start off the year with a two. Well, I think
00:03:40.280 I got a plan. I don't know. Okay, I finally, I got to, guys, I got to make some money. Quarter two,
00:03:44.700 they start getting to work. And their best is eight and a half. But they're down is one. They have no
00:03:49.940 idea how to handle prices. They stay in it. They complain about it. They talk about it. They post it on
00:03:53.900 Facebook. They share it with everybody. Everybody keeps complaining about their lives. And then they say,
00:03:58.680 well, this kind of working doesn't work. I can't think like this. I got to change my life. And
00:04:02.400 then boom, they come back up and they're like, yeah, I'm going to get it. I'm going to go. And
00:04:05.760 then all of a sudden, yeah, this is going to work for, oh my gosh. Another setback. Market crash.
00:04:09.860 This happened. That happened. Boom. They crash again. This is why these guys can never compete at
00:04:14.980 the top. They'll make money, but they will never compete at the top. These guys all have what it
00:04:21.060 takes to compete with them, but they lose on how they react to challenges, not on how they perform
00:04:28.240 when everything's going right in life, but when everything's going wrong in life. You see,
00:04:34.520 in life, you don't win when everything is good. When your marriage is good, relationships is good,
00:04:39.420 kids are good, health is good, family is good, market's good. Everything's going good. Everybody
00:04:43.600 can do good with everything. Everything is good. Heartbreak, health issue, setback, loss of a loved
00:04:49.160 one, challenges, emotional loss, embarrassment, kids get caught with something. When all of that stuff
00:04:56.120 is hitting you, the people at the top just know how to manage all that emotional pain better than
00:05:02.040 everybody else because they don't turn it into the end of the world. They address it. They mourn.
00:05:07.300 They go out there. They lean on a higher power to back them up and then boom, they get back to work
00:05:11.560 while everybody else loses three, six, 12 months of the momentum that they took years creating.
00:05:17.020 They lose it. So the gap is your biggest enemy. My challenge to you is if you're here,
00:05:23.600 let's increase this. Ask yourself, are you a 80%, 20%, 10%, 1% comment below? I'm actually curious
00:05:29.340 where you fall under. And if you want the PDF of what I just showed you right now, I want you to text
00:05:32.900 the word GAP to 310-340-1132. One more time, text the word GAP to 310-340-1132. And if you're not in
00:05:44.300 America, you're international, somewhere else, but you still want to get the access to the PDF,
00:05:48.700 the GAP, the PDF, the PDF, go to the link below, click on the description that you'll see below,
00:05:54.400 go there and subscribe to the newsletter and you will also get access to the same PDF.
00:06:00.260 Have a great week, everybody. Bye-bye.