Brutally Honest Truth On How To Get Rich (In 17 Minutes)
Summary
TLDRThe 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
🥊 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.
🦄 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.
💸 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.
😟 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.
Mindmap
Keywords
💡Unicorn complex
💡Boring business
💡Freedom
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
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