TRUTHS you need to hear to be Rich [10 Years of Lessons]

Summary

The video script delivers a candid and inspiring message on achieving success in business and life. It emphasizes the importance of resilience, prioritizing problems, and building a business that provides cash flow and happiness. The speaker shares personal experiences and offers practical advice on overcoming challenges, the value of hard work, and the art of negotiation. The narrative also touches on the impact of social media on focus, the power of reading, and the significance of taking calculated risks. It concludes with a call to action for viewers to improve their lives by adopting a growth mindset and not conforming to societal norms.

Takeaways

• 🚀 To become a leader, first be the best employee.
• 💡 Success in business doesn't require a Silicon Valley startup; boring businesses can lead to fulfilling lives.
• 📈 Running a company involves continuous problem-solving and developing a high tolerance for pain.
• 🎯 Focus on what you love, what you're good at, and what the market will pay for to architect your ideal life.
• 🔥 Embrace the 'suck' of your first job; it's temporary and leads to growth and better opportunities.
• 🗣️ Words have power; follow through on your commitments and change your mindset to 'how could that work?'
• 📚 Reading is crucial for growth; it shapes your thinking and helps you become an earner, not just a wage earner.
• 🤝 Be generous with your time and resources; helping others can lead to unexpected benefits and opportunities.
• 🙊 Learn to suffer in silence; most problems are either not going to happen or are out of your control.
• 🗣️ Master negotiation; it's an underrated skill that can lead to better salaries, investments, and business deals.
• 🌟 Don't obsess over short-term gains; focus on long-term growth and learning from those far ahead of you.

Q & A

What is the key lesson for transitioning from a worker to a leader?

The key lesson is to first be the best employee, as most people forget this crucial step in their journey to leadership.

What does the speaker suggest is a real unicorn CEO definition?

A real unicorn CEO, according to the speaker, is someone who runs a business that generates cash flow, allows them to be with their family, has great customers, and provides a happy life.

How does the speaker describe the process of scaling up a business?

The speaker describes it as a process of accumulating pain tolerance, where initially small problems seem overwhelming, but as one scales, they become accustomed to handling larger issues without stress.

What is the speaker's advice for dealing with the stress and dissatisfaction of a first job?

The speaker advises that the first job will feel terrible, but it's temporary. Over time, it gets more enjoyable as you discover what you're good at, what you like, and what the market will pay for.

How does the speaker suggest one should approach their first couple of jobs?

The speaker suggests that one should expect their first jobs to be difficult and boring, but these experiences are necessary for growth and eventual success.

What is the speaker's perspective on the importance of reading books?

The speaker emphasizes that reading books is crucial for success, as it improves focus and intellectual capacity. They argue that non-readers are more likely to be wage earners rather than business owners.

What is the speaker's advice on maintaining friendships while pursuing success?

The speaker advises not to expect friends to perform tasks like airport pickups if they are busy building their own success. Instead, focus on creating value and memorable experiences for friends.

How does the speaker view the role of social media in focus and productivity?

The speaker believes that short-form video content on social media is destroying focus and productivity, and suggests that it's important to decrease the ability to be distracted to become a force in business.

What is the speaker's stance on taking risks in business?

The speaker encourages taking calculated risks and not being afraid to start a business as a side project while keeping a steady job to fund it. They advise against going all in without a secure cash flow.

What is the speaker's advice on handling criticism and trolls on the internet?

The speaker suggests not engaging with trolls and not letting criticism affect you. They argue that responding to trolls is a low-level activity that doesn't contribute to long-term success.

What is the speaker's opinion on the importance of having a strong opinion?

The speaker believes that having a strong opinion is a mark of critical thinking, but the ability to change one's mind when presented with new information is a mark of intelligence.

Outlines

00:00

🚀 Becoming a Leader and Embracing Challenges

This paragraph emphasizes the transition from being an employee to a leader, highlighting the importance of being the best employee first. It discusses the misconception that success only comes from high-profile startups and emphasizes that a profitable, stable business can lead to a fulfilling life. The speaker shares personal experiences of growing a pain tolerance for business challenges, drawing on Stoic philosophy to advocate for resilience over an easier life. The paragraph also addresses common internet complaints about work and stress, suggesting that initial jobs are universally challenging but can lead to discovering one's passion and market value. It ends with advice on setting goals and the importance of action over excuses.

05:01

🤝 Building Success and Letting Go of Small Concerns

The second paragraph focuses on the mindset required for success, including the willingness to prioritize problems and the ability to handle setbacks. It discusses the evolution of the speaker's perspective on business issues, from being overwhelmed to developing a high tolerance for pain. The paragraph also touches on the importance of resilience, the reality of first jobs, and the power of words and actions. It provides life hacks, such as not checking out of a hotel room and supporting friends in 'build mode.' The speaker encourages readers to avoid the trap of internet negativity and to focus on building something significant rather than conforming to societal expectations.

10:01

💼 Mastering Business and Personal Growth

The final paragraph offers advice for entrepreneurs, including starting a business as a side project, the importance of reading, and the dangers of short attention spans due to social media. It emphasizes the need for focus and the value of reading books to improve earning potential. The speaker also discusses the importance of reaching out to others, the art of negotiation, and the ability to suffer in silence. The paragraph concludes with tips on raising prices, the benefits of positivity, and the importance of not taking oneself too seriously. It ends with a call to action and a reminder that most actions will not matter in the long run, encouraging readers to take calculated risks and maintain a growth mindset.

Keywords

💡Business School

The term 'Business School' typically refers to an institution or a part of a university that provides education in business and management. In the context of the video, it's used metaphorically to suggest that real-world experience is the best form of education in business, as opposed to formal academic training.

💡Ruthless Truths

Ruthless truths refer to harsh, but necessary, realities or facts that one must face in order to succeed. In the video, these truths are presented as unvarnished insights about the challenges and mindset required to be a successful leader or entrepreneur.

💡Leadership

Leadership is the ability to guide and influence a group of people towards achieving a common goal. The video emphasizes the significant shift in perspective and responsibilities when transitioning from a worker to a leader.

💡Resilience

Resilience is the capacity to recover quickly from difficulties or to be able to endure tough conditions. In the context of the video, it's portrayed as a crucial trait for entrepreneurs and leaders to handle the inevitable challenges of running a business.

💡Prioritizing Problems

Prioritizing problems means identifying and dealing with the most important or urgent issues first. This concept is central to effective management and is emphasized as a continuous process in running a company.

💡Stoicism

Stoicism is a philosophy that emphasizes the development of self-control and fortitude as a means of overcoming destructive emotions. It's mentioned in the video to illustrate the importance of mental strength in the face of adversity.

💡Entrepreneurship

Entrepreneurship is the process of designing, launching, and running a new business, often involving innovation, risk-taking, and the ability to create value. The video addresses the misconceptions about entrepreneurship and the reality of starting and growing a business.

💡Work-Life Balance

Work-life balance refers to the equilibrium between an individual's work responsibilities and personal life. The video emphasizes the importance of a business that allows for a fulfilling personal life, which is described as a 'real unicorn' in the context of business success.

💡Mental Fortitude

Mental fortitude is the ability to remain calm and composed under pressure or in the face of adversity. The video suggests that building this quality is essential for dealing with the challenges of entrepreneurship.

💡Negotiation

Negotiation is the process of discussion and compromise aimed at reaching an agreement between parties. The video highlights negotiation as a critical skill for achieving success in various aspects of business, such as salary raises, investment deals, and other business transactions.

💡Networking

Networking refers to the cultivation of professional relationships for mutual benefit. The video emphasizes the value of reaching out to others, even when you don't immediately need something, as a way to build a supportive network that can contribute to long-term success.

Highlights

To become a leader, first be the best employee.

Boring businesses can lead to fulfilling lives with great customers and cash flow.

Running a company involves continuous problem prioritization.

Develop a pain tolerance to handle the stress of business challenges.

Your first job will be tough, but it's a stepping stone to better opportunities.

Success comes from doing what you love and what the market will pay for.

Words have power; follow through on your commitments.

Start your success journey on Sundays, like Warren Buffett.

To market effectively, learn from successful companies like HubSpot.

Don't check out of a hotel room; just leave, as they already have your credit card.

Save time by using Uber from the airport instead of expecting friends to pick you up.

Speak less but command more attention to show intelligence.

Start your business as a side project and keep your job until it's financially stable.

Curate your information intake as it shapes your thinking.

Reading books is crucial for personal growth and success.

Be proactive in reaching out to others, even when you don't need something.

Master negotiation to succeed in salary raises, investments, and business deals.

Learn to suffer in silence; most problems never happen.

Don't troll others; build bridges instead for long-term success.

Focus on those who are 10 years ahead of you, not just one step.

Have strong opinions weakly held; be open to changing your mind.

Raise your prices; they're probably too low.

Transcripts

the best business school is being ining

business ruthless truths to win at

anything and notes to my younger much

poor self when you move from being a

worker to a leader everything changes if

you want to be the boss first be the

best employee most people forget this

latter one ruthless truth you don't need

to do an AI startup a Silicon Valley

backed company a VC funded company in

order to win boring businesses do not

equal boring lives let me tell you this

a business that cash flows lets you be

with your family is simple has great

customers gives you a happy life that is

actually a real unicorn CEO definition

salesperson never let anybody talk you

out of this truth running a company is

simply prioritizing problems

continuously non-stop except your

ability to handle and withstand the pain

from the problems becomes increased

because you get used to small ones when

I started out in business I would have

problems that would be like I didn't

close this big customer that I wanted to

close I'm really upset about it I didn't

hit my sales number numbers this person

left the company today man uh this

product launch didn't go as good as I

wanted it to those seemed like big

overarching can barely breathe because

they're SE my face problems then as you

scale up you start to realize I'm

getting sued okay again so what somebody

stole money not that big of a deal we'll

figure it out this entire business isn't

working we need to bring in a CEO okay

we can do that there's no difference

really between Cody that was upset about

hitting a sales goal and Cody today that

doesn't even blink an eye if an entire

business is failing except that I'm so

used to it I've accumulated this pain

tolerance that means that those big

scary things don't seem that big anymore

and it goes back to what the stoics say

which is don't ask for an easier life

ask for the resiliency to be able to

handle a difficult one in order to do

what you love expect many years of doing

the things that you hate number one

issue for people on the internet today

is this I literally get off it's pitch

black like I don't have energy I don't

have time for anything and I'm like so

stressed out we got chicks on the

internet crying and every 5 seconds for

having to go to a job because it sucks

here's the truth it does suck your first

job is going to feel like a pencil

boring into your eyeball and you're

going to sit there and wait for the

clock to tick all the way to zero while

you're making minimum wage or barely

just above it and wondering why you

don't have enough money to buy those

fancy Whole Foods groceries or that

bottle of wine that you want at the end

of the day to forget the day you

just had two

shots thing is though it doesn't stay

like that your first couple jobs suck

that's the truth but after a certain

period of time it gets fun and you get

to start figuring out what you're good

at with what you like to do and what the

market will pay and when you connect

those three things likes good at what

the market will pay for is when you get

to architect your life and then somebody

else who works for you can slowly bore

out their eye with the pencil it's just

part of the game words mean things when

you say you'll do a thing actually do

the thing 90% of people will not even do

this and this includes promises to

yourself instead of saying that won't

work change it to how could that work so

small so impactful the world is run by

failed employees behind every successful

entrepreneur is an insufferable boss do

you want to set yourself up for Success

start on Sundays most people complain

about early Mondays you're already going

to beat them Warren Buffett doesn't

optimize ready to work wake up at 5:00

a.m. meditate work out drink 72 ounces

of chloride water and stand upside down

or find something you enjoy doing and

get to work on it every single day for

as long as humanly possible there's no

substitute for just putting in the fuing

hours you have anxiety because deep down

you know you could be doing better these

pissed the entire internet off so I

thought i' tell you to them Picasso said

all great art is imitation so let's

steal homework from a multi-billion

dollar business huh you need more

customers to buy your thing or more

attention but the question is how where

do you get the info that's databack to

act on not just some dude behind a

computer who reads a Reddit thread once

so I stole from HubSpot sorry not sorry

how the heck to Market AKA sell more

stuff in 2024 and this thing is gold

like the best social platform to use

based on Roi or how much money it's

going to make you which marketing Trends

actually work how top companies are

using Ai and chat Bots and a ton more my

favorite section is HubSpot breaking

down how to launch an email campaign

email is where the real money is made no

cap isn't that what the kids say these

days every point is backed by data from

1,400 Global B2B and b2c marketers now

just because I love you you can steal

from me too and download the report

linked below thanks HubSpot for

sponsoring this video and giving me all

your secrets life hack number one you

never actually have to check out of a

hotel room just walk out the door they

already got your credit card they don't

clean and go rush to your room the

second that you leave they do it on a

schedule per floor so everybody take it

easy the internet is full of humans who

get triggered off of something as dumb

as somebody leaving a hotel room without

checking out but guess what if you want

to be successful every single one of

those seconds counts so what do you want

to do you want to be liked by nameless

faces on the Internet or do you want to

win and if you want to win you got to do

things that other people won't like

tweet number two the people ha it

immensely save a friendship get an Uber

from the airport internet hated this one

in fact there were articles about how

much they hated this one here's my point

don't hate on your friends if they're

busy in build mode and can't come to the

airport and pick you up don't be a

lowlevel loser who needs another person

to do a job that somebody else could get

paid for and is trying to build

something bigger and I think this is

what's wrong with the Internet in a lot

of places it's like well you should do

that because you're friends I take that

word should and I throw it out the

window you know what I'd rather should

with my friends I'd rather take my

friends to an incredible vacation that

they've never been able to go on before

because I've worked so hard that I can

provide a life experience unlike any

other I'd rather build a business that

employs a bunch of people who get to

live out their dreams because I skipped

a few airport rides and guess

what this isn't that popular to say but

if you want to be one of the big and not

one of the many you got to make some

sacrifices and apparently airport

pickups major trigger point the most

telling sign of your intelligence the

ability to speak for the least time yet

command the most attention what if your

intellect is measured by how much truth

you can tolerate can you be told you're

wrong the dress makes you look fat

you're getting older he's smart harder

than you and take them all in stride

Fast Tax to never fail in business start

as a side project keep your job use your

salary to fund it don't use debt quit

and go all in only when you have enough

money to cash flow rocket science I know

except Nobody Does it most people

cherry-pick information to build up

their own preferred version of the world

they'd rather trade growth for Comfort

don't be most people reading is just a

diet be careful what information you

consume it becomes the way you think

words are heard internalized repeated

and habituated so curate you let into

your brain as you do your body scrolling

on social media is the equivalent of

wolfing down fries every day ruthless

truth short form video is destroying

your focus it's destroying all of our

focus a sad byproduct only 28% of

Americans read a book last year if you

guys say that you aren't a reader you're

not going to be an earner pick up aing

book read it from beginning to end if

it's a good one read it again and then

take action based on what's inside of it

don't call yourself not a reader anybody

who calls themselves not a reader means

you're going to be a wage earner not an

owner the only way to change that is to

have an attention span that goes longer

for the 8.25 seconds which is the

average attention span of a human youth

in America today get focused decrease

your ability to be distracted and you

become a Force maybe the most important

be the type of person who reaches out to

other people when you don't need

something in fact I was just talking to

a good friend of mine who is huge

business makes $130 million a year this

guy told me that he helped somebody

launch a product of his another name

you'd know on the internet and did it

out of the kindness of his heart and

ended up selling more for this guy than

anyone else did then he went and asked a

favor of this guy 6 months later the guy

left him on

unread do you think that he'll remember

that the truth is yes so just be a good

fcking human because it makes life

easier and also it's just better for all

of us if you want to get rich Master

negotiation salary raise an investment

business deals it doesn't matter the

only thing that matters is you actually

know how to ask for the thing that you

want underrated skill learn to suffer in

silence 99% of your problems will never

happen the other 5% you can't control

anyway you need two things to win find

friends who are willing to say that

you're wrong and realizing that no is a

full fing sentence the bigger you get

the more people are going to troll you

and the more you are going to want to

troll back here's the truth every time

you do that it's a low-level activity it

basically shows that you're not willing

to get big the only way you're going to

get big is by pulling somebody else down

you can do it in the short term and win

but longterm I can pretty much guarantee

you it's going to make you look worse

it's going to make you feel worse it's

going to make people think less about

you over time I think we've seen this

again and again with the people who have

fake beefs on the internet it might make

them a buck or two but what did it do in

the long term he's decided to make this

fight completely about my fiance and

Plastering her on his social media It's

s pretty they really got to do that to

rep a fight do we have to hate on

somebody in order to grow big and I

think the answer is no it's just a lot

harder to do it without a bunch of hate

so every time that you can be the person

building the bridge not the

troll throwing rocks from underne don't

give first row opinions to those with

nose bled seats you will never look back

and wish that you had made more nameless

faceless humans on the internet like you

ose your carefully people don't care

what you're doing unless you answer

their real question what's in it for me

fear makes fools of us all never make a

decision from Fear you got to reframe

who you're obsessed with the best don't

obsess on those just one step ahead of

them they use them for advice instead

obsess on those 10 years ahead and start

focusing on shortening the distance

what's one thing can do to shorten the

Gap right now take action you're the 1%

the richest people I know they never

conform they let ideas fight based on

Merit not emotion and they find the

courage to act in unconformity that

allows them to find Opportunities to

unlock the outsized returns others never

see or are likely too scared to even act

on the smart have strong opinions weakly

held having a strong opinion is the mark

of critical thinking but the ability to

change it is the mark of intelligence

only politicians hold one stance forever

and worry about changing their mind when

more inputs come in we Mortals do better

by constantly experimenting and when the

experiment changes so should your mind

young entrepreneurial Cody four things

you need to do find God go on more walks

get to the gym most importantly raise

your prices they're probably too low

right now can I tell you guys an

embarrassing one try listening to a

little Christian rap or rock music you

can have this

one there's something incredible that

happens when you listen to positivity as

opposed to all the negativity happening

in the news right now dear sweet Jesus

look at the name of some of the top

songs out there right

[Music]

now is that going to make you go work

harder only losers can't take a joke we

take ourselves way too seriously he who

has the deepest laugh lines wins

self-care isn't a bubble bath it's

actually multiple income streams one is

enjoyed and one you have to work for

most successful people operate with this

mindset entitled to nothing willing to

earn everything why is it worth taking

big huge calculated swings and risks on

yourself the worst thing that you could

do is end up at the end of your life

looking back on all the things you said

you were going to do nothing you do will

matter to anyone in 2 years even less

than 20 and your name will be forgotten

in a 100 there's freedom and a little

bit of nihilism this one's important

subscribe what you feed your brain even

more important than what you put into

your

mouth how's my

wake