Brutally Honest Truth On How To Get Rich (In 17 Minutes)

Summary

The video offers insights into achieving financial success and freedom by avoiding the 'Unicorn complex'—the obsession with creating revolutionary ideas. It emphasizes the value of pursuing 'boring' yet proven business models over flashy, high-risk ventures. The speaker shares personal experiences, including anxiety and burnout, illustrating how chasing money without purpose can trap individuals. He highlights the importance of balancing wealth with freedom, noting that true success can be achieved with as little as $10,000 a month by focusing on lifestyle and business efficiency, rather than just accumulating wealth.

Takeaways

• 💪 Success comes from focusing on consistent, proven business models, rather than chasing 'unicorn' ideas.
• 🛠 Boring industries like zippers, waste management, and staffing agencies can generate massive wealth and have been tried and tested.
• 🚫 The 'Unicorn Complex' is a trap where people waste time searching for revolutionary ideas instead of embracing proven, practical ones.
• 🔑 Simple, scalable business models, like running an agency, offer a high chance of success with low risk.
• 💼 Chasing money alone can lead to misery if it comes at the cost of freedom, as experienced by the speaker.
• 🧠 Financial success doesn't necessarily equate to happiness; freedom and control over one's life are more important.
• ⏳ Making $10,000 a month with freedom offers a more fulfilling lifestyle than working for millions without time or autonomy.
• 📉 Investment bankers may make more money, but their time is heavily constrained compared to someone running a streamlined small business.
• 🌍 Location independence and lower cost of living are key benefits of running an online business, providing a better quality of life.
• 💡 The real secret to success is achieving freedom and a fulfilling lifestyle early, rather than endlessly pursuing more money at the expense of happiness.

Q & A

What are the three most important pillars mentioned in the transcript that have contributed to the speaker's success?

The speaker doesn't explicitly state all three pillars upfront, but emphasizes the importance of avoiding the 'Unicorn complex,' starting with simple, proven business models, and seeking freedom over chasing money.

What is the 'Unicorn complex' as described by the speaker?

The 'Unicorn complex' refers to the belief that one must come up with a revolutionary, billion-dollar idea in order to be successful, rather than pursuing simple, established business models that are proven to work.

Why does the speaker highlight the YKK zipper company as an example?

The speaker uses YKK, a global zipper manufacturer, to demonstrate that simple, 'boring' products and industries can generate immense success and wealth, without needing to create a groundbreaking or flashy new product.

What advice does the speaker give regarding choosing a business model?

The speaker advises choosing simple, proven business models that are often considered boring but are effective, rather than chasing revolutionary ideas that may never materialize.

How does the speaker describe their personal experience with anxiety and burnout?

The speaker describes a period of extreme anxiety and burnout where they would wake up with a racing heart and anxiety attacks, despite having achieved financial success. This experience led them to reevaluate their goals and focus on freedom instead of money.

What did the speaker realize during their period of isolation and self-reflection?

During this period, the speaker realized that they had been chasing money instead of freedom, and that money alone did not bring happiness but rather created a 'prison' when it came without freedom.

Why does the speaker consider freedom more important than money?

The speaker believes that money is meaningless if it does not provide freedom. They argue that true happiness comes from controlling one's own life, rather than being a slave to money or a demanding career.

What example does the speaker use to contrast the value of time and freedom over a higher income?

The speaker contrasts an investment banker making $500,000 a year but working 80 hours a week with a small business owner making $100,000 a year and working only 10 hours a week. The small business owner has more time freedom, which the speaker values higher than simply earning more money.

According to the speaker, what is the misconception most people have about achieving freedom?

The misconception is that people believe they need to be millionaires to be free and live a comfortable lifestyle, when in reality, they can achieve freedom with as little as $10,000 a month if they choose the right business model and lifestyle.

What final advice does the speaker give to listeners regarding success and freedom?

The speaker advises listeners to focus on building a business that provides freedom and to realize that achieving a dream lifestyle is closer than they might think. Chasing after massive wealth without considering freedom can lead to misery.

Outlines

00:00

🥊 Keys to Success and Boxing Motivation

The speaker begins by sharing their routine on a Monday morning, heading to a boxing workout before a packed schedule. They mention the goal of achieving $10,000 to $20,000 a month and tease discussing the three pillars that have driven their success. The speaker emphasizes the importance of getting through the workout first and hints at the lessons to come. Later, they reflect on the importance of controlling opportunities, using boxing as a metaphor for life, where positioning and decision-making determine success.

05:01

🦄 The Unicorn Complex: Why Simple Businesses Succeed

The speaker introduces the idea of the 'Unicorn Complex,' a mindset where people believe they need to create a groundbreaking, billion-dollar business to succeed. They use the example of YKK, a zipper company that generates billions from a simple, everyday product. The speaker argues that while many chase revolutionary ideas, proven and 'boring' business models like staffing agencies or waste management make millions. They emphasize that chasing unrealistic goals often leaves people stuck, while simpler, time-tested businesses offer a path to financial success.

10:02

💸 Boring Businesses Bring Success

The speaker discusses the importance of choosing practical and proven business models over chasing revolutionary ideas. They share their personal experience, explaining how their first business—an agency, which they describe as boring—helped them build wealth. The message is clear: starting a business in a boring but proven industry increases the likelihood of success. The speaker advises against trying to be a trailblazer with high-risk ideas and instead advocates for choosing a reliable business model with lower risks.

15:04

😟 The Trap of Success: Anxiety and Isolation

The speaker shares a vulnerable story about reaching financial success, only to experience crippling anxiety and a personal crisis. Despite growing their business and achieving goals, they found themselves overwhelmed by stress, waking up with anxiety for weeks. Reflecting on their past, they realize that their drive to support their family led to a workaholic lifestyle. This obsessive focus on success created a trap where they lost control and happiness. The speaker explains that many entrepreneurs fall into this same cycle, unable to step back and prioritize mental health and freedom.

🔒 Freedom vs. Money: Breaking the Chains

In this segment, the speaker reflects on how their pursuit of wealth had, in fact, imprisoned them. They confess that although they reached a high level of financial success, it didn’t bring happiness but rather a sense of confinement. They learned the hard way that financial freedom without personal freedom is worthless. This realization led them to understand that many entrepreneurs end up becoming slaves to their businesses, constantly chasing the next big paycheck, only to feel trapped by their success. The speaker underscores the importance of balancing money with freedom.

💼 Time is Wealth: How Small Business Can Bring Freedom

The speaker compares two people: an investment banker earning $500,000 a year and a small business owner earning $100,000 a year. While the banker seems wealthier, the small business owner, working fewer hours, enjoys more freedom and a better quality of life. The speaker explains that true wealth is not only measured by money but also by time and freedom. The small business owner can live a lifestyle that most people work their entire lives for—right now. This is a critical mindset shift: success is not just about the amount of money but how it's earned and used to enhance life.

🏖 Freedom is Closer Than You Think

The final message emphasizes that you don't need to be a millionaire to live a life of freedom. The speaker advocates for creating a lifestyle that allows for freedom now, instead of grinding for decades to reach a traditional definition of success. They explain that a business generating $10,000 a month is enough to live comfortably and enjoy life. The speaker stresses that choosing a simple, proven business model allows for financial freedom without the burden of stress and overwhelming responsibility. This message encourages viewers to rethink their approach to wealth and focus on freedom and balance.

Keywords

💡Unicorn complex

The 'Unicorn complex' refers to the mistaken belief that success only comes from creating a revolutionary, billion-dollar business idea. In the video, this mindset is criticized because it causes people to waste time chasing rare and risky opportunities, ignoring proven and profitable 'boring' businesses. The speaker highlights how this obsession can blind people to simpler, viable paths to success.

💡Boring business

'Boring business' refers to simple, traditional business models that may not seem exciting but have proven to be highly successful. Examples from the video include staffing agencies, waste management, and zippers (like YKK). The message is that these business models are often more reliable and profitable than trying to create groundbreaking ideas.

💡Freedom

Freedom in the video is defined as having control over your own time and life.

Highlights

The speaker introduces the importance of practical business models, focusing on reaching $10,000 to $20,000 a month as a key milestone.

Mentions the concept of the 'Unicorn Complex,' where people fail because they think they need to come up with a revolutionary idea to be successful.

Introduces the YKK zipper company as an example of a boring but highly successful business, showing how everyday products can generate massive profits.

Highlights that many simple and unglamorous industries, such as waste management, staffing agencies, and roofing, are proven to work and generate significant income.

Emphasizes that chasing a billion-dollar idea can lead to failure and suggests that pursuing boring, tried-and-tested businesses is a safer and more successful path.

The speaker shares a personal story of crippling anxiety and burnout, even after achieving financial success, warning that money without freedom is a trap.

Discusses the importance of freedom over money, stating that money alone does not bring happiness if it leads to a lack of personal freedom.

Warns that many entrepreneurs mistakenly believe that the next paycheck or client will bring them happiness, leading to a cycle of dissatisfaction and overwork.

The second secret: 'There is nothing more miserable than being rich but not free,' highlighting the danger of becoming a slave to a business or income source.

Recounts how the speaker's happiest time was when they were making $10,000 a month, not because of the money, but because of the freedom that income provided.

Contrasts the lifestyle of an investment banker making $500,000 a year with that of a small business owner making $100,000 but working fewer hours and having more freedom.

Reinforces that time and freedom are more valuable than high income, using the example of how relative hourly income can be higher for a small business owner.

Explains that the third secret is understanding that you don't need to be a millionaire to live an epic lifestyle or be truly free; $10,000 a month can achieve that.

Encourages viewers to focus on how they make their money, not just how much they make, as this is key to long-term happiness and freedom.

Closes by reminding viewers that their dream life is closer than they think and that they don’t need to chase unrealistic unicorn ideas to achieve success.

Mentions that many people mistakenly build their own 'prisons' by focusing on high income instead of designing a lifestyle that maximizes freedom and fulfillment.

Transcripts

said you belong to the streets but the

streets Belong To Me It's Like Home to

me all right guys it's a big day Monday

morning on the way to boxing I have a

super pack schedule so between the day

I'm just going to stop and I want to

share with you really just the three

most important pillars that have got me

to where I am today and most importantly

at that stage where you're trying to get

to 10 or $20,000 a month but first let

me get this workout in and we'll talk

after yeah I've just said to I to a few

things I can do

10 down here

again yes sit back a little bit more the

way there that's where you want then you

can pick your shots you can decide there

you go and then you set you up boom

exactly

two you see there's really one trait

that everyone who fails in life has in

common let me go ahead and light this up

now for those of you guys who don't know

I'm super into my candles this one right

here is one of my favorite tobacco

Toscano uh this store I was actually in

Rome for a few days so the Santa Maria

Nolla probably butcher that name I've

had these candles before but I never

went into their store stores all around

the world but the one in Rome was very

nice and for those of you guys who don't

know this right here is an electric

candle lighter so rechargeable so any of

you guys who are into your candles

definitely go ahead and pick one of

those up but anyways as I was saying

it's really not that they didn't try

hard enough or that they didn't have

talent or a high enough IQ instead they

all suffered from this one weird issue

something that I like to call the

Unicorn complex and really to explain

what that is I need to tell you a story

you see right now there is a billion

doll company between your legs and no

I'm not actually joking it's called YKK

like if you've actually looked at the

zippers of any of your pants I'm

actually wearing one right now it's

called YKK on it it's a little logo that

you're going to find on most zippers you

see YKK manufactures more than 50% of

the zippers in the world so half of

every single pant every single jacket

every single backpack in the world has a

YKK zipper and that is billions and

billions of dollars being made from

something as boring as a zipper but

here's the thing did you ever consider

did you ever think to start a zipper

company well if you're like most people

probably not that wasn't your childhood

aspirations or dreams but let's think

for a second about all the boring things

that we interact with on a daily basis

that people make fortunes off of you've

got boxes you've got hangers you've got

chairs and then if you want to think

about Services you've got Roofing you've

got cleaning you've got Waste Management

you have staffing agencies do you know

how many businesses out there need to

hire people all of them and you know how

most of them do it most businesses out

there do it through staffing agencies so

all of these boring Industries move

billions of dollars daily yet I bet

you've never thought about selling boxes

or hangers getting into waste management

or starting a staffing agency now why is

that because you suffer from what I call

the Unicorn complex you think you need

to come up with this billion dooll

unicorn idea that no one has ever heard

of before in order to be successful and

the problem is that idea never comes

weeks turn into months and you stay

stuck trying to chase this revolutionary

new idea and that stops you from seeing

the biggest secret that's hidden right

in front of your nose and that is you

don't need to invent the next Google or

the next Uber there is an ocean of

opportunity in these simple boring

business models that have been tried and

tested by thousands of people who became

successful with them but instead you're

too busy chasing the next big industry

to see that you know it's kind of like

trying to find the perfect diamond while

you're sitting in a gold mine listen

what you need to understand is this in

this world there are really two types of

people the ones who fail for their

entire lifetimes and the ones who become

successful and the individuals that fail

have this blind obsession with coming up

with the next billion dooll

revolutionary business and instead they

ignore the less sexy business models

that have been proven to work and by the

way a lot of times those less sexy

businesses end up making more money in

the long run the individuals who succeed

they do what is practical they choose

business models that are often extremely

boring but they are proven to work by

thousands of others who became

successful with that business model

before them so listen unless you want to

fail and fail a lot for years maybe even

decades in order to become successful

trust me you don't want to be a

Trailblazer and depend on coming up with

this revolutionary idea in order to

become successful instead you want to

have the highest likelihood of actually

becoming successful and do so while

you're still young so that way you can

actually enjoy your wealth and to be

honest the best way to do this is with a

boring business that's been proven to

work and that is how 90% of the

successful people in the world actually

became that way you can take me as an

example listen I only started venturing

into less boring businesses many years

after starting my first business and

making lots of money with it and what

was that first business an agency

literally one of the most boring

businesses to exist and by the way I

know that a lot of you guys glorify it

because you see the money and the

success that it brought me early in my

career and by the way that's very

understandable but I guarantee you that

if I were making minimum wage with my

agency no one would think it's cool the

case is though that it does make money

and it simply works and it has been a

proven model for countless years now by

the way you don't need to pick that as

your first business you can pick

whatever you want as long as you

understand our first secret which is

chasing a billion dooll idea is just

going to leave you broke starting a

boring business will give you the

highest chances of success with the

lowest risk associated to it now with

that little rant over I need to get to

some work but I'll trat with you guys

later in the

day bro I heard you listen to in the

shower

clown going to Laura

Piana we're going to chiani first cuz

you know anytime you're in Mall of em so

you got to go chani

mandatory you're such a

white I think it looks good I think it

suits the brand that like

all right so we're about halfway through

the work day I have a quick 30 minute

break so I'm going to enjoy a nice

cigaro but before that I really wanted

to talk to you guys about the second

secret and this is something that I

personally experienced firsthand and to

be honest it was really one of the

hardest lessons that I learned when I

first started experiencing some level of

success and to be honest for this one

I'm actually going to have to be a

little bit vulnerable with you guys and

take you back to a time when to be

honest I thought I had it all figured

out you see this must have been around

what 4 4 or 5 years ago I was making you

know very good money my business was

growing and everything was going great

at least that's what it looked like from

the outside but to understand this we

need to take it even further back to my

roots now a lot of you guys may already

know my story list it's a very typical

story single mom dad wasn't around you

know watching her struggle and go to

work and basically do everything just

for me it was tough so I built my

businesses I dropped out of school to

support me and my mom and I didn't have

a traditional childhood I had to focus I

had to hustle I couldn't to make

mistakes and there was a point in my

life where if I lost a client if I

messed up on a project it could all come

crashing down so I worked like a madman

because I thought that was the only way

to make sure nothing would go wrong and

for a while it worked I was making more

money than I ever thought possible my

business was growing faster than I could

ever imagine but without even realizing

it I was actually creating a massive

trap for myself just like a tidal wave

that I was warned about but I didn't

make a big deal out of I took my eyes

off of the shore and before I realized

that the water was at my feet and had

already washed the beach it got so bad

that for 2 to 3 weeks in a row I started

waking up in the middle of the night

with this crippling anxiety hitting me

like a ton of bricks my heart pounding

my mind racing and that happened every

single night and I can't really put it

into words but I got into this very very

very dark mind space where I almost felt

like I didn't know who I was anymore I

just like over the past two 3 weeks I

just keep waking

up with a

I keep waking up with this crippling

crippling

anxiety and

um I just don't feel like myself and

then one night I just

snapped and I actually ended up buzzing

my hair for the first time in my life

and I had to walk myself away from any

contact with the outside world for

months on end to try to figure out what

was happening to be honest I didn't

really talk to anyone I didn't see

anyone I just stayed isolated trying to

figure out where I went wrong I mean how

could it be how could I accomplish

everything I wanted get me and my mom

out of the situation that we were in and

still be living through one of the worst

periods of my entire life well it was

during this long period of solitude and

self-reflection of forcing myself to

look in the mirror every single day and

really assess what was wrong that I came

to a realization all this time I thought

I was chasing freedom but really I was

chasing money the very thing that was

supposed to set me free is what ended up

imprisoning me to be honest money didn't

bring any happiness in my life what it

did instead was help me build a prison

for myself an expensive one yes but

still a prison and this experience

taught me that money was nothing if it

didn't come with freedom now luckily I

learned this lesson fast enough and at a

young age the problem was I wasn't an

isolated case living through this hell

this was something that most

entrepreneurs struggle with and most

never figure it out they keep chasing

more and more money thinking that the

next paycheck the next client the next

promotion will finally bring them the

happiness that they've been looking for

without realizing that all they're doing

is digging their own Graves and I've

seen it happen with so many of my

friends I've seen it happen with people

I look up to they end up trading their

freedom for money they become slaves to

their businesses slaves to their clients

slaves to the very thing that was

supposed to set them free and the worst

part just like an addict they think if

they can just make a little bit more if

they just push a little harder then

everything will get better well I'm

sorry to say spoiler alert it doesn't

the more they chase the more they trap

themselves and it's by acting like that

that you end up discovering our second

secret from firsthand experience and

that secret is there is nothing more

miserable than being rich but not free

[Music]

yeah I communicate fire gly flows I

don't want to SK I'll get a bloody and a

so IIT the blades so the first secret

was a word of warning the second secret

was the one that changed my life and the

Third Secret is the one that's going to

change yours and in order for you to

understand we really need to go back to

that very same dark moment that I was

living through when I was going through

the darkest period in my life when I was

locked away it really just was trying to

figure out what went wrong and I asked

myself the question when was I truly

happy the happiest that I've ever been

you know if I were to be truly honest

with myself and doing this exercise I

realized that the happiest that I ever

was when I was making about $10,000 a

month and you see it wasn't because of

the money itself but rather because of

the freedom that that life and work

setting provided me with due to the

nature of my own business I could work

from anywhere and I had the money to do

pretty much whatever I wanted enough to

send my mom some money every month

enough to take my best friend to Paris

enough to take time off whenever I felt

like it and most importantly I never

again had to do as I was told I didn't

need to follow someone else's orders

because for the first time I was truly

in control of my own life and that's

what hitting that $10,000 a month figure

really represented to me and somewhere

along the way I lost that control I lost

that life setting that I created for

myself and the reason I'm telling you

this is not to discourage you from

becoming a millionaire or buying your

dream car you should aim to do all that

stuff by all means I want you to do that

but what I want you to understand is

this most people have a distorted

perception of reality they think that

you need millions of dollars in your

bank account to become truly free

reclaim control of your life and live an

epic lifestyle while the reality is you

don't need that today it's much more

about how you make your money then how

much money you make so let me give you

an example to try to illustrate this

point take an investment banker who's

making $500,000 a year and just so you

know that's on the higher end of a

director or vice president level roles

when you're first starting out in your

first few years it's much below that on

the other hand let's take a small

business owner with all of his

operations streamlined and outsourced

and he's making $100,000 a year and by

the way that's less than the $10,000

number that I mentioned previously so

it's a very realistic figure now if I

was to ask you who's richer what would

your answer be obviously the investment

banker if we're just looking financially

he's five times richer than the online

business owner now it's once time is

introduced in this equation that the

whole narrative starts to change let's

say the investment banker Works an

average 80 hours a week which is very

very typical for that role and let's say

our second guy works 10 hours a week on

his business again I was making way more

than $100,000 working only 4 hours a

week on my agency once I got it up and

running so if you calculate their

relative income you're going to see that

the relative income for an investment

banker is $120 an hour while for the guy

with a small online business it's $190

an hour but that's not even the most

important point cuz let's say the

investment banker manages to save up and

retire in his early 50s I mean why is he

even doing that in the first place so

that way he can move to some Paradise

City and live a Chill Lifestyle by the

beach well if that's the case the guy

who owns a small online business doesn't

need to wait until retirement he can

live that lifestyle right now he can run

his business from a paradise city and

live that same Chill Lifestyle by the

beach he doesn't have to wait until

retirement and most importantly he

doesn't need to live frugally and Penny

pinch along the way he can actually

enjoy the experiences his money can

provide him while he's still young and

that's so important plus another thing

to mention is the investment banker is

probably going to work in a place like

New York and be bound to that city

they're going to be stuck he's going to

have to pay rent there if he wants to go

out for a fancy dinner with his wife

he's going to pay hundreds of dollars

his life cost in general is going to be

very very expensive while at the same

time the guy with a small business can

choose any city in the world to live in

where his lifestyle is going to cost a

fraction of that his rent will probably

10% of the rent of the guy in New York

for the exact same quality of apartment

an incredible night out is going to cost

him $80 whereas the guy in New York is

going to cost him

$400 and this is how we get to the third

and final secret which is you don't need

to be a millionaire to be free to live a

lifestyle that most people work their

entire lives for you can do it with as

little as $10,000 a month you don't need

to grind away for decades to live the

life that you want as long as you choose

the right way to do it because what

matters is how you make your money not

how much that you make so ladies and

gentlemen hopefully that's kind of just

set your mindset straight as to the

journey ahead and understanding that

freedom in your dream life is a lot

closer than you could ever imagine and I

know for a lot of you guys you think

that you have to be multi-millionaires

and achieve all this and that and build

a unicorn billion dollar business in

order to be free and it saddens me that

so many people go down that route only

to realize that it makes them miserable

and they've literally built their own

prison so hopefully this video just kind

of sets your mind straight and giv gives

you a motivation to know that you're a

lot closer than you could ever imagine

so on that note I'm going to start to

turn up the temperature in here get a

little sweat on shower and then get some

good night's rest so as always I'm

watching from afar and I'm rooting for

you