Millionaire Investor Explains How to Make $1,000,000 If You’re Broke

Summary

In this insightful transcript, the speaker shares strategies for achieving financial success and productivity. They emphasize the importance of transformational leadership, focusing on outcomes and measuring progress. The concept of 'definition of done' is introduced as a key to clear communication and project management. The speaker also discusses the impact of environment on work, the value of managing energy over time, and the significance of prioritizing tasks. They stress the importance of learning from failures and adopting a growth mindset. Additionally, the speaker provides practical tips on how to delegate tasks effectively to reclaim personal time and increase productivity.

Takeaways

• 🚀 Start by adding value to others without expecting anything in return; this can lead to unexpected opportunities and partnerships.
• 🧠 Embrace failure as a learning opportunity rather than a setback; it's a crucial part of the growth and success process.
• ⏰ Prioritize managing your energy over time, focusing on tasks that give you energy and outsourcing those that drain it.
• 🛣️ Use the 'Buy Back Your Time' concept to audit your calendar and eliminate activities that don't align with your goals or values.
• 🤔 Be intentional with your time by setting clear boundaries and being selective about where and how you spend your energy.
• 💡 Recognize that everyone has unique genius and by leveraging that, you can create more value and opportunities for yourself and others.
• 🔄 Continuously reassess commitments and activities to ensure they still bring value and align with your current priorities.
• 📈 Productize your services to create a scalable business model that can be replicated and doesn't solely rely on your time.
• 🛍️ Avoid the 'time assassins' such as over-managing, procrastination, and micromanagement to optimize your productivity.
• 🎯 Set clear expectations and definitions of 'done' for projects and tasks to ensure everyone is aligned and working towards the same outcomes.

Q & A

What is the main concept behind the strategy of making the first million?

The main concept is to get in proximity to the most valuable person you can find and deliver the most valuable thing that you know to them, leveraging their existing resources and power to accelerate your own success.

Why is it important to focus on transformational leadership rather than transactional leadership?

Transformational leadership is important because it focuses on outcomes and empowers team members to come up with their own solutions, leading to more innovation and motivation within the team, as opposed to transactional leadership which is more about directing and controlling.

What is the significance of the 'Definition of Done' (DOD) in achieving clear communication and project management?

The 'Definition of Done' is significant because it provides a clear and detailed vision of what the end result should look like, allowing everyone involved to have a shared understanding of the goal and what success means, leading to better planning and execution.

How does the speaker approach decision-making in terms of managing his time and energy?

The speaker approaches decision-making by evaluating whether an activity adds or takes away energy, and prioritizing tasks that align with his goals and values. He also regularly reassesses commitments to ensure they still align with his current priorities.

What is the speaker's perspective on handling failure in the context of personal growth and business?

The speaker views failure as a learning opportunity rather than a setback. He believes that every failure provides valuable insights that can be used to improve and refine strategies, ultimately leading to success.

How does the speaker manage requests for his time and expertise from people he doesn't know?

The speaker uses a filter system, directing people to resources like books and articles first, and only engaging in deeper conversations with those who have done their homework and can demonstrate a clear understanding of their needs and how he might be able to help.

What are the 'Time Assassins' that the speaker advises against doing personally?

The 'Time Assassins' include activities like being a staller (delaying decisions), a speed demon (moving too fast without proper planning), a supervisor (micromanaging), a saver (focusing on saving small amounts of money at the expense of larger opportunities), and a self-medicator (using vices to cope with stress or failure).

How does the speaker define 'wealthy' and what is the mindset associated with it?

The speaker defines 'wealthy' as the realization that one has already arrived, meaning that the person has become the best version of themselves. The associated mindset is one of abundance and self-worth, rather than scarcity and lack.

What is the speaker's approach to delegating tasks and managing his responsibilities?

The speaker delegates tasks that do not require his unique genius or personal touch, such as packing bags for travel or shopping. He focuses on creating and connecting with loved ones, and outsources the rest to reclaim his time for higher-value activities.

How does the speaker suggest leveraging other people's resources to make the first million?

The speaker suggests finding someone who already has resources and offering them something of value that you possess. By doing this, you can accelerate their success and in turn, they can help you grow your wealth faster than starting from scratch on your own.

Outlines

00:00

🚀 Starting from Scratch: Strategies for Earning the First Million

The paragraph discusses strategies for making the first million dollars from scratch. The speaker suggests not building a social media platform from the ground up, but instead leveraging existing platforms to gain initial revenue. The importance of reading 'The 4-Hour Work Week' by Tim Ferris is mentioned, and the concept of transformational leadership is introduced. The speaker emphasizes the need to focus on outcomes rather than transactional leadership, which involves micromanagement. The speaker also talks about the challenges of managing a growing team and the transition from transactional to transformational leadership, which involves setting clear goals and allowing team members to find their own ways to achieve them.

05:00

📈 Transformational Leadership and the Importance of Clear Communication

This paragraph delves deeper into the concept of transformational leadership, contrasting it with transactional leadership. The speaker explains that transformational leadership involves setting clear outcomes and allowing team members to determine their own path to achieving those outcomes. The speaker also discusses the importance of measuring progress towards those outcomes and providing coaching based on principles rather than specific activities. The concept of 'definition of done' (DOD) is introduced as a tool for clear communication and setting expectations for projects.

10:03

🧠 ADHD, Focus, and the Power of Embracing Chaos

The speaker addresses the topic of ADHD and the misconceptions surrounding it. They argue against labeling and emphasize the uniqueness of individual experiences. The speaker shares personal experiences with ADHD and how it has shaped their approach to work and problem-solving. They discuss the ability to handle uncertainty and chaos, and how this can be both a strength and a challenge. The speaker also talks about the importance of being strategic in decision-making, especially when it comes to making changes in business that can create new problems to solve.

15:06

🌟 Creating an Intentional Work Environment for Optimal Performance

The speaker talks about the importance of creating a work environment that is conducive to productivity and energy management. They share their approach to designing their workspace, including the placement of gyms and recreational areas. The speaker emphasizes the significance of intentionality in every aspect of the work environment, from the flow of the space to the words displayed on the walls. They also discuss the concept of managing energy rather than time and how this can lead to more efficient and enjoyable work experiences.

20:06

🎯 Prioritizing and Expectations: The Path to Fulfillment and Success

The speaker explores the idea of prioritizing different aspects of life and setting expectations for oneself. They discuss the importance of reflecting on past experiences and evaluating whether they were worthwhile. The speaker shares personal examples of how they have restructured their life to better align with their expectations and desires. They also talk about the power of acting 'as if' and the impact of this mindset on behavior and results. The speaker encourages embracing both play and work as essential components of a fulfilling life.

25:06

🤝 Building Relationships and Adding Value Through Genuine Curiosity and Help

The speaker emphasizes the importance of building relationships based on genuine curiosity and the willingness to help. They share their approach to meeting new people, which involves asking questions and seeking to learn from others. The speaker also discusses the value of offering help and sharing knowledge without expecting anything in return. They highlight the benefits of being open and transparent, especially when seeking advice from mentors. The speaker shares personal examples of how this approach has led to valuable connections and learning opportunities.

30:07

💼 Leveraging Existing Power and Influence for Accelerated Success

The speaker shares a strategy for making the first million dollars from scratch, which involves leveraging existing power and influence rather than starting from zero. They suggest finding a valuable person in any industry and delivering something of inherent knowledge that is extremely valuable to them. The speaker also talks about the concept of 'bartending' or doing something on the side while delivering value to others. They emphasize the importance of proximity to people who already have power and becoming more valuable to them than anyone else.

35:08

🛡️ Defending Your Time and Energy from Unwanted Requests

The speaker discusses strategies for managing time and energy, particularly in response to requests for advice or insights that may detract from their own goals. They share personal experiences and tactics for setting boundaries, such as hosting a regular hike that is open to anyone but requires a high level of commitment. The speaker also talks about the importance of valuing one's own time and being discerning about where to invest it. They suggest offering resources or directing people to books instead of giving unsolicited advice, and setting rules around how people can reach them.

40:09

🌱 Embracing Failure as a Learning Opportunity

The speaker talks about the mindset of embracing failure as a learning opportunity. They reference a book by John Maxwell and discuss the concept of viewing failure not as a setback, but as a step towards success. The speaker shares their own approach to business, assuming they are wrong until proven right, and using failure as a chance to learn and improve. They also touch on the importance of not blaming oneself for failures, unless it is a pattern of deliberate mistakes.

45:12

🔋 Managing Energy and Time for Maximum Productivity

The speaker discusses the concept of managing energy rather than time, emphasizing the importance of focusing on tasks that give energy rather than those that take it away. They share personal strategies for evaluating activities based on their energy impact and making adjustments accordingly. The speaker also talks about the 'Buy Back Loop,' a method they use to continuously improve their life and business by evaluating and adjusting their commitments and tasks. They highlight the need to reassess tasks that may have initially been energizing but have since become draining.

50:14

🚫 Identifying and Avoiding Time Assassins

The speaker identifies and explains the 'five time assassins,' behaviors that waste valuable time and energy. These include being a staller, who delays decision-making; a speed demon, who acts too quickly without proper consideration; a supervisor, who micromanages; a saver, who fritters away time on unimportant savings; and a self-medicator, who uses substances or activities to cope with stress or failure. The speaker emphasizes the importance of recognizing and avoiding these behaviors to effectively 'buy back' one's time and focus on high-value activities.

💼 The Art of Delegating and Living a Wealthy Lifestyle

The speaker shares personal practices for delegating tasks and living a wealthy lifestyle, which involves focusing on high-level tasks and delegating lower-level tasks to others. They discuss the importance of not doing certain tasks oneself, such as packing bags or washing cars, and instead allowing others to handle these tasks. The speaker argues that this approach is not pretentious but rather a strategic use of time and resources. They also mention the potential for shame and judgment from others but emphasize the importance of these practices for personal and financial growth.

Keywords

💡Transformational Leadership

Transformational leadership is a style of leadership that focuses on inspiring and motivating team members to exceed their own expectations and achieve their full potential. In the video, the speaker emphasizes the importance of this leadership style over transactional leadership, where leaders define the outcome and measure progress without micromanaging the process.

💡Proximity to Power

The concept of proximity to power refers to the idea that being close to influential or successful individuals can increase one's own opportunities for success. In the video, the speaker suggests that getting in proximity to people who already have power or success is a strategic way to learn from them and potentially leverage their resources or connections to one's own advantage.

💡Outcome Focus

Outcome focus is a goal-oriented approach where attention is given to the end result or achievement rather than the specific tasks or actions taken to get there. In the video, the speaker highlights the importance of focusing on the desired outcome to empower team members to find their own ways to reach the goal.

💡Coaching

Coaching in the context of the video refers to a method of leadership where a leader guides their team by providing feedback and insights based on principles rather than direct instructions. This approach aims to develop the team members' problem-solving skills and personal growth.

💡Definition of Done (DOD)

The Definition of Done (DOD) is a concept from agile programming that emphasizes the importance of clearly defining what 'done' means for a task or project. It goes beyond just completing the task to ensuring that the end result meets certain criteria or standards.

💡Brun Method

The Brun method is a journalistic technique that involves answering five key questions: who, what, when, where, and why. It is used to ensure that all necessary information is covered in a clear and concise manner. In the video, the speaker applies this method to define communication and scope projects, leaving the 'how' to the team members.

💡ADHD and Focus

In the video, ADHD and focus are discussed in the context of how individuals with ADHD can thrive in chaotic environments and handle large amounts of uncertainty. The speaker challenges the negative stigma associated with ADHD and instead sees it as a unique strength that can be leveraged in the right circumstances.

💡Work Environment

The work environment refers to the physical and psychological setting in which people work. In the video, the speaker emphasizes the importance of creating an intentional and beneficial work environment that aligns with one's values and goals, including the people one works with and the physical space where work is done.

💡Prioritizing

Prioritizing involves determining the importance of tasks or activities and focusing on those that are most critical or valuable. In the video, the speaker discusses the need to prioritize effectively to avoid feeling overwhelmed and to ensure that time and energy are spent on the right activities.

💡Time Assassins

Time Assassins, as described in the video, are activities or habits that consume time without adding significant value. The speaker emphasizes identifying and eliminating these time assassins to effectively buy back time and focus on more important tasks.

Highlights

Starting from scratch and making the first million by leveraging existing resources and people rather than building from the ground up.

The importance of transformational leadership, focusing on outcomes and principles rather than transactional leadership methods.

Utilizing a coach approach in leadership to emphasize principles and empower team members to come up with their own solutions.

Defining clear communication through the concept of DOD (Definition of Done) to ensure everyone understands the end goal and expectations.

The discussion on ADHD and focus, and how embracing one's unique abilities and dealing with uncertainty can be turned into strengths.

Creating an intentional work environment that is conducive to productivity, focusing on energy management over time management.

The power of setting expectations and acting 'as if' to drive the right behaviors and achieve desired outcomes.

Prioritizing tasks and activities by reflecting on their value and impact on one's overall goals and life satisfaction.

The importance of surrounding oneself with high-standard individuals who are committed to creating something exceptional.

Strategies for dealing with feeling overwhelmed, reframing thoughts and expectations, and using past experiences to simplify current tasks.

The concept of the 'Buy Back Loop' and regularly auditing one's schedule to ensure activities align with energy levels and goals.

Addressing the five time assassins (The Staller, The Speed Demon, The Supervisor, The Saver, and The Self-Medicater) to optimize time and energy.

The significance of recognizing and eliminating low-level tasks from one's daily routine to focus on high-value activities and personal growth.

The impact of societal shaming on wealth accumulation and the importance of sharing practical strategies for time and energy management.

Transcripts

you're starting from scratch at zero how

do you make your first million if I was

today going to make my first million

bucks a lot of people would say I'd go

build my own social media I wouldn't do

that from scratch if you guys saw the ad

revenue on YouTube you'd be like no you

wouldn't yes I could go start from zero

get my first couple thousand dollar and

work my way up or I could leverage so

the best thing that you can do is get in

proximity to most people have read like

Tim Ferris is 4-Hour Work week and I

feel like this is that book now on

steroids when you went and wrote this

what was the one piece of this book that

you thought why doesn't anybody do it

this way is not what everybody would

want to learn it's kind of the chocolate

broccoli like people I wrote that book

that way because I knew it would get

people to start the book but the

broccoli is actually like towards the

back part of it and it's

transformational leadership so like most

people that run companies don't realize

that they are actually a little

insane right Cody no not at all not over

here we are nutty and I mean we have to

be cuz we're deciding to do stuff that

very few people do right which is start

companies buy companies which is if

everybody did it it wouldn't be abnormal

or extra so transformational leadership

is a simple concept that when you have

people that report to you okay there's

two ways to do it you can do

transactional leadership or

transformational most people if you've

never been taught any different it

sounds super logical that you do

transaction leadership which is you hire

somebody you tell them what to do you

check that they got done and you tell

them what to do next most of us have

experienced this in our work capacity

this is how we've always done it and it

sounds super normal the problem with

that is that as you hire more people and

it usually happens around a dozen folks

on your team direct reports where you'll

wake up in the morning with all the

motivation to get a bunch of stuff done

and then you like check your inbox and

then you realize this person's working

on the wrong thing and then oh what

about this new person we just hired are

they being trained and and you literally

spend the whole day doing a tell check

next Loop to only find out that after

you had dinner and you put the kids to

bed that none of projects you touched

ever got done so then you work from 7:00

to 11:00 at night try and actually get

your own work done and that's where you

hit essentially what I call the pain

line where anything more that you want

to do in your life becomes really

painful so you might be sitting with an

opportunity sitting there like I could

go do this but I can't do anything more

because I'm stuck in this transaction

leadership style versus transformational

which

is number one it's outcome Focus so I

don't tell anybody on my team what to do

I tell them what it looks like when it

is done at the highest level and my

team's here you can talk to them this is

just how I am and sometimes they'll pull

me into that like what do you think I

should do and I literally act like a

six-year-old I go I don't

know and's laughing because I do it a

lot but literally it's like I was like

what do you want to do and they're like

but I I'm asking you I know but I don't

know of course you

know pretend like I don't if I wasn't

here what Would You Do Well I probably

hit the internet or I'd probably call

this person I said that sounds like a

great idea so I focus on outcome then I

go to measure which is what's the what

is the numbers that we're going to agree

upon means you're making progress so if

I said we're going to take that mountain

I might say well let's measure the daily

elevation gain per per day right and

every day if you text me how many feet

of elevation you made then as long as

you're moving upwards we're good but if

all of a sudden you report back a

negative I'd be like did you fall off a

cliff you know did you take a wrong turn

and then they'd be like yeah I got lost

it's like cool what could you do not to

be lost I don't know you tell me I don't

know what you know what I mean get it

outcome so we're going to the mountain

top that's the outcome measure every day

and they might come back with ideas like

I should probably get a map that sounds

like a great idea where could you get a

map I don't know map store maybe

somebody else has you know been up this

mountain okay good good go find that out

and then what I do the third part is

coach right and Coach is what's funny

for a lot of us to have communities like

we do we actually do this naturally or

maybe you've been a coach like a real

like you know athletic coach you use

those same principles so I don't tell

people what to do I talk about

principles right sorry guys I talk about

the principle that is missing so if I

see somebody do something they shouldn't

have done I'll just write it down and

then in our one-on ones I'll be like

they'll be like what's on your list

because that's one of the prompts and

then I go to my list and I said oo last

Tuesday I saw you post this in slack and

I just want to ask you like did you feel

that was clear a little unclear well

it's was clearly unclear cuz 17 people

were very confused and I caused this

whole thread of you know people going

left right and all over the place okay

cool I would agree let me tell you about

this principle about clear communication

that's probably my wife calling me back

cuz I did this to her earlier it

is and she'll call me again she's in my

VIP list it always Rings through it's a

smart happy wife happy life I know but

she I did it to her earlier and and she

kept hanging out like I'm doing and then

I kept calling her

so she might she might do it again I

know and she was probably recording a

podcast and she was loving me at the

time that's amazing so so then we do um

the coaching so it's always principal

not activity so I never attack the

activity I talk about the principle so

the principal is clear communication

here's the way I learned this one time I

remember I jumped into a meeting I

didn't have context and I said something

I wasn't clear next thing I turned

around and it was a $26,000 mistake so

I've learned in the future sometimes

it's better to slow down to measure

twice to cut once see and then at the

end this is the third part of the

coaching is you ask them based on the

story I just shared with you what did

you take away from that so notice I

didn't I didn't tell them anything I I I

created a methodology for evolving my

people and my whole philosophy and big

thing in the book and that's why it's a

productivity book but it's also a

leadership book is you build the people

the people build the

business Define clear communication

because I think everybody thinks they're

clear and then everyone else does not

very simple these these three words DOD

definition of done definition of done

right you buy a piece of real estate you

have a vision for what that looks like

to the degree that you can describe

exactly what that looks like completed

done like really go there see most

people we never taught how to do this

what is the definition of that if I buy

an old house and I hire somebody to

manage renovating it what does that look

like well one there's a date there's an

experience see I'm not talking about the

the colors of the wall I'm talking about

like on this date I will drive into this

yard and I will open the door and all my

stuff's going to be here and I'm moving

into this house with my family and we're

going to have a party the day after and

everything's going to be catered and

like I'm describing the outcome and the

experience and I think that most people

never ask themselves like what is the

definition of done I'm a software guy so

it actually comes from agile programming

it's a software

concept and I think I every time I'm

trying to ask somebody to support me in

anything I always go to a definition of

done which is the outcome concept right

but I think DOD is is kind of what I

would tell people to think about I

really really like it we use the Braun

method so basically just who what when

where how and why and we leave the how

to them and I think a lot of the reason

that that helps is you know the other

day we were talking about it and we're

like well if you don't know who this is

for then a financial projection sheet

that is for you or I who run a bunch of

holding companies is going to look a lot

different than financial projection that

uh you know my admin needs to see a

budget for an event those are two very

different things and so um I think I

stole it from journalism because the

Brun method is what use in journalism

you can't really write a story unless

you have who what how when where and why

and it's really the same thing when you

Define communication and scope projects

so I really I liked that from your book

um the other thing that I really liked

from your book is you talk about uh

Focus versus ADHD a little bit in your

content and in your book can you talk a

little bit about like do we really have

this ADHD epidemic or is a lot of this

just our Focus you're going to get me in

trouble I I so a few things I think I I

have a problem with labels of anybody

for anything I think we're all beautiful

expressions of our unique experience

Souls all that stuff I have I'm zero

label for if if doctors need it to like

describe a person to each other then

keep it for yourselves like like anytime

anybody's tried to label me or my kids

or my friends any way

I'm like hey it's a weird thing because

there's nothing wrong with you right you

have a default so like a lot of people

that have ad DDD or ADH I was diagnosed

when I was 11 diagnosed right put on

riddlin told I was special and broken

all this turns out they just didn't know

where to point me right if this was 300

years ago we'd call me an evolutionary

Hunter that's what I am like I'm the I

if this was 300 years ago you'd want one

of me in your tribe cuz I'm the guy

that's it's going to go out in the woods

and I'm going to bring back the food and

then you guys can all eat see we went to

this like agricultural farming Society

where now we all have to sit in these

chairs and learn and study and show up

and everybody do the same thing in the

right order or you or you're an issue so

anyways um I think in regards this in

regards to the chaos side of things of

just like how you show up at your work

so what happens is because a lot of us I

can only speak for my

experience because I I grew up in like

chaos and ADHD and just like that's

where I thrive unfortunately when things

go good in your business if you have

this problem you will throw hand

grenades and create problems in your

business when things are actually

starting you create durable revenue and

it's predictable and it's like okay yay

you'll be like we're changing the

website adding a new product I just

hired I bought a new company there's 14

other people there they're going to and

the team's like what are you doing why

because that chaos is is actually

incredibly normal for us and what we've

learned to do and it's our superpower is

deal with a large amounts of uncertainty

and still move forward so when things

are certain it feels awkward and we all

have an emotional home that we want to

get back to even if it doesn't look

positive it's still familiar so for me I

always think about like is this

strategically the right decision or am I

throwing a massive hand grenade in my

business to give me ground cover to then

go have a problem to solve because that

feels good I'm sure nobody in here can

relate to any

of one thing that I like about you too

we talk a lot about power of place and

how you know it really can be beneficial

or can be detrimental what you surround

your work environment with you're very

particular about your work environment

very intentional can you talk a little

bit about what's on the walls how you

structure things and why and and I like

also how you do it in a way that's it's

not that it's expensive or fancy

although you can afford that it's just

very intentional yeah I think it's

evolved and I continue to evolve it like

we just got a a new um Studio started a

compy called Martel media very inspired

by Cody and our friends like at the end

of the day it occurred to me that

everything that I want to achieve in

life accelerates on the other side of

reach and reputation so we got this new

studio space and I started building a

team and I would say because that's

probably the most recent company that

I've kind of like like kind of built out

first off it's the people like I have a

zero space for anybody that I don't Vibe

with it doesn't mean that we have to

share the same preferences and watch the

same shows or any of that or even look

the same none of that if you don't hold

a high standard if you don't have a

desire to create something magical if

you don't want to go on a journey of

building something that may have never

been built before this is not the room

for you and I'm not upset about it I get

mad at myself when they accidentally get

in we had one recently it is so funny I

feel bad for an it was Ann's assistant

and she resigned and we're like whoa

that's weird cuz if you read my book

sixth chapter test verse hire method

very structured I mean to get on the

team is a gauntlet and she resigned and

I was like that's weird so I reached out

to her and I did a clearing conversation

with her and she she goes I'll be honest

with you Dan she was from South Africa

she goes I've never been on a team where

somebody

swore oh that's I

told and she's like and I'm like oh how

did this how did did this happen like

where did we mess up when we were

recruiting where you were not aware I

thought you didn't did you watch my

content like did you you think of

Googling me or something I think that to

the degree that you can be just really

honest with yourself and this is the

thing it comes down to you giving

yourself permission to deciding what is

a 10 out of 10 and not coming down to a

six or a seven because that's what

happens you know if I asked you like

what would it look like to have to enjoy

going to work to own a business to

really appreciate it you would say well

I want to surround myself with these

kind of people so it's always people

first so I start with the people that's

first and foremost then I look at like

the the the flow in the structure so I

don't believe we manage time I believe

we manage energy that's a big Concept in

my book okay because I don't know about

you but when I went to math class it

felt like three hours when I went to art

class it felt like seven minutes you see

what I'm saying so we managed the energy

that we experience in that space that

time so everything I do and it's very

intentional in regards to just even

transition points when I travel here

I've got the team and it's just like

we're very intentional about like what's

Dan's energy level going to be at

different parts of the day so some

people are like how do you do so much

and keep the energy going it's like oh

well I I do this kind of work in the

morning this kind of work after lunch

this kind of work towards the end of the

day and I and I save these things for

these they're like

oh oh that makes sense and I'm like yeah

even the space of like how the studio is

designed and you come in and there's

like these the literally where we put we

have a gym in the studio we have like a

play area has anybody played the new

Spider-Man on a PS5 anybody am I the

only one with kids okay good dud it's so

good it is so good it is like it's like

playing a movie you're like playing this

thing so anyways even where we put that

and then had the studio set up and my in

my office it's just you know the words

we put on the wall everything is you

know it says prioritize the pump it says

sweat every day so like I'm very

intentional about the words like if you

talk with me and I hear you say a word

that is disempowering I will invite you

to consider a different one right how

would that conversation go oh you like

let's talk about so let's say like I go

well it's just like we didn't have

enough time to do it the way that I

wanted to do it really

Cody you decided not to make enough time

maybe there we go yeah so playful fun um

Sam say that that would be be cool when

that happens it will be cool if there's

no yeah so it's just words mean things

to you words mean things matter set

intention at the end of the day we don't

get what we want we get what we

expect think about that you will never

get a penny more than you expect to earn

you think you

deserve never I don't care [ __ ] beeh

haags and big hair like man $10 million

I don't care do you believe that that's

you cu the problem is you'll just act ly

if you expect it here's how I know like

just check this out tomorrow morning you

go into your bank accounts whatever

Banks you use I'm Canadian so like you

know Chase or whatever it is in the US

and you log in and the number you

thought to see is half do you change the

rest of your day do you the energy you

bring to the rest of your day

yes why don't you act like that

today think about that why don't you act

like that today when you s stand on the

scale and you look down and it's like no

that's cool no no are you really in the

best like are you where you want to be

what would that number should be act as

if you put on 20 lounds act as if the

bank account dropped 50% cuz like I

think that that expectation is actually

what drives the right Behavior because

too often that identity of what we think

we're worth is actually the

issue it's really good so you run Iron

Man's and marathons and I think you were

skiing this weekend with a bun of people

yeah entrepreneurs yeah exactly so so

obviously you're you're playing a lot

while you're working too yeah um talk

about how you started to prioritize

correctly because for a lot of people

who are new at this what I hear most

often is I don't have time for X I feel

overwhelmed by why yeah I never hear

those words from you why and how do you

prioritize properly yeah I mean it's

easy to look at my life and look at Cody

and I and go but you guys are rich like

I'm not an idiot I I was at one point in

a room just like this listening to two

rich people on stage talk about they're

[ __ ] you're like shut up

like like I'm very

self-aware but I think that you know

there's two parts to your question the

one is when I do this I feel overwhelmed

I totally agree and it's your experience

the cool part is you

decide so guess what you can be

overwhelmed then you may be overwhelmed

and I don't I don't discredit I'm not

going to take away that that's exactly

how you feel but if you actually stayed

in that feeling and you were willing to

explore it a little bit you could if you

were open to it get to a place where in

that same activity you're no longer

overwhelmed overwhelmed is kind of it's

a funny thing because it's all about the

meaning that we associate to the

activity so here's a cool idea I'm GNA

really you guys are like who is this guy

you don't control your first thought

you don't control it it's given to you

from wherever call it the Universal Mind

God Consciousness it's just there but

you do control your second

thought and the second thought in that

space between the first one that is a

gift and the second one how you respond

that's the feeling so if you're

overwhelmed yes you are do you have to

be no you don't and if you just even

think of the frame Alex Heros taught me

this this like thousand expert frame so

like whatever is overwhelming you

imagine you did this thing a thousand

times Honestly by the 100th time 500th

time the thousandth time it's just you

just do it you don't even think about it

so when people see my life today and

they go how do you do all that I go oh

but this is capacity expanded at the

extremities and the first time I might

have felt overwhelmed but then I got

easier and easier and easier and now

it's just I don't even think about it so

that's on the feeling side in regards to

the time side what I do and I teach in

the book pre-loaded year the perfect

week these two Frameworks is I'm very

intentional about reflecting so every

like quarter and then you know every

year I look back at what I did because

everything's in my calendar right and

it's kind of colorcoded but not really

but we can just evaluate it and I just

ask myself simple questions like was

that a was that the right use of my my

quarter right use of my year when I look

at the stuff I said yes to was that like

Charleston for me that was a hell yeah

that was a great time so yes maybe I do

that again or the ski trip do I want to

do that again did and then when I look

at it and I look at it over a year I

have this onepage template because and

my wife and I do this we each

individually look at like what work-wise

and then our family and we just go like

was that too much or too little okay

I'll give you a simple example I used to

go on vacation before my events now as I

say this out loud all of you probably go

that's dumb why why would you go on

vacation the week before you have a

major event I don't know if you guys

have ever run an event uh

the seven days prior there's zero on

your brain other than did this like like

so I would go on vacation with the

family and they be talking to me and

it's like I'm not there and I'm like

checking my phone did do you guys

remember to get the badges change the

color you know what I mean so now all we

did when we looked at the year I said oh

okay instead of doing the vacation here

right after oh wow what a change all of

a sudden now I deliver for my clients

and then I go on vacation everybody's

full and I can disconnect without guilt

Etc so it's just I'm really good at that

retro and being intentional about my

time and then also just evaluating the

different aspects of my life that I feel

I need to feel like fulfilled I don't

even believe in the word happiness per

se I think it's a moment in fleets but

fulfilled have I designed my life in a

way where I've have like all aspects of

like my relationship and my my

friendships and like the the ski trip

you mentioned I've been doing that for

10 years and it is three days it's a

magical 3 days 48 of like some of my

favorite entrepreneural friends in the

back country going down Steep and deep

powder we'll probably do it

until till we don't we're just it's just

the best thing so like again every year

we just we're very intentional so the

way I think about it is anytime I have a

conversation with somebody I'm trying to

do two things one I'm genuinely curious

about their situation see some people

that are nervous about talking to other

people the problem is is they think they

got to

talk shut

don't say anything it's so funny they're

like so nervous that they say nothing

when I'm like you don't have to talk you

just have to ask a question they're like

this literally this guy came to my house

one day and he was nervous and I was

like dude I can feel your he's like well

I've been following you for five years

and I'm really don't know what to say I

go you don't have to say anything just

ask me a question he's like what I

anything so so here's the deal when you

meet somebody new just and you can just

write them down have some canned

questions like I'm just curious how did

you get into that business how long have

you been doing it what do you like best

Cody what do you like best about running

this this incredible Empire

building and let them talk and then so

what happens is I look for two things I

look for one something that they're

doing that could be helpful to me and

two something that they're they're

they're going to do or struggling with

that is actually my

genius so and and I didn't even know I

was doing this until somebody asked me

about three weeks ago this exact same

question and I was like oh actually i'

probably do this so here's what I do I

ask the questions to but I'm generally

curious Like I Do I Do Love people so

I'm like how do let you do this you know

well how did you solve that problem oh

we're doing this like the media stuff

the YouTube like do you guys monetize

that oh gez we don't do that uh okay so

there's my thing how do you guys

monetize I need to know that oh we got

to turn that thing on I don't know how

to do that I'm okay so I got the thing I

need then I try to figure out okay what

what are they building into the future

see most people discount their value yep

they literally go why would this person

want to talk to me at to add to their

life that is the silliest thing ever

every person has something it could and

guess what your thing could be that you

listen with a kind

heart and that is awesome because I will

tell you as Cody knows in this world of

business sometimes that person ain't a

kind person so if you all you do is

listen with kind heart that is actually

valuable and you can offer that so then

but let's say it's a real thing like you

know you're good at marketing or

whatever and you're like oh you know how

are you guys marketing your business and

they're like well thinking of starting

Facebook ads and you're like I'm a

Facebook ad expert then then I go to the

next part which is I offer to be helpful

and I might say something like well

that's cool the thing you're doing with

your sales motion there we've been

thinking of doing we haven't done it and

you know like the Facebook ads or the

SAS stuff like I think I probably did I

was like you know anytime you need me

love to do that but if you want let's

schedule a 30- minute call and on that

call we can do the first 15 minutes

where I help you and I'll show you and

this is the kicker again I don't

remember I do this but like this is how

it's a 10 out of 10 10 show them

everything show them like literally show

them here's our p&l here's our dashboard

here's my ad sets here's my thing like

whatever you can help them show them

here's why because if you do that for

them guess what happens when it's now

your turn to receive the information

from them they're going to be like well

let me just show you our CRM it's so

funny when I'm people like I could help

you and then I get on a call and they're

like what are you dealing with and I

tell them they're like oh you could do

this this and this I go no what are you

doing sh show me or they ask for advice

from a mentor and then they get on a

call with the mentor and they don't even

tell them what their business is doing

how much profit they have their team

size I literally tell friends of mine

that want a mentor when they get on that

call you have to disclose everything CU

in that moment you separated yourself

from everybody else cuz you're honest

and truthful and they can feel that that

I'm just here to like try to win and it

doesn't matter I'm not ashamed of where

I'm at I'm starting here but I have an

aspiration to go more and those 30

minute phone calls I probably and knows

we probably do two or three a week and

that's just my way as I meet people that

I want to be helpful to and learn from

that it's really cool they're short

meetings super valuable and then we can

figure out what's next it's huge the

other thing that I've found too on the

same vein is um I really think that

there's some sort of magical uh there's

some sort of magical action you can take

when you meet somebody who you might

have a slight different Power

differential with so let's say for

instance um you know I met the one of

the presidential candidates VC ramaswami

and he's a presidential candidate plus I

think he's worth a couple billion bucks

I'm neither of those things yet and so

when I met him what's the normal thing

that you do you kind of ask them

questions you ask if they're curious you

know you pretend to be curious or you

are curious with a person and then you

know you maybe say well if I can ever

help you I'd love to that's actually

really annoying to somebody who's really

successful because I don't know it's not

my homework to help you help me in some

way annoying uh what's not annoying is

doing a little bit of research which we

did in the moment we didn't even know

the guy was going to be there and

realized oh this guy's social media is

really terrible and because his social

media is really terrible I bet in 30

seconds we could tell him a few things

to change in fact we'll tell his number

two because he doesn't even have time to

listen to that and because we told his

number two that we said just give me

your give me your email or your

assistant email so you play it down

right because they might not want to

give me their contact information give

me your assistant email I'm going to

send you a social media breakdown of

what we would do for years and oh by the

way I don't even sell this I don't this

isn't what I do for a living I just

think you're amazing I want to see you

be successful this is some small way I

could potentially help and if it's not

just own and trash and of course you

know we sent that out we did this

breakdown um sent it to them and then

you know we became Consultants on their

social media strategy again not paid but

now if I want to call Vivic I can if I

want to make a phone call I can and so I

think you know anytime there might be

some sort of power differential between

you and somebody else that you want

something from in the future the best

way to fill that Gap is an meet an

unexpected need with your zone of Genius

and you have it in some way shape or

form but so few people will actually

deliver you something that you would

find valuable and that is not that hard

to do in fact you could probably pay

somebody on upwork to do a social media

strategy for somebody that you met

that's better than what they're doing

and so it always surprises me if you

want to buy back your time the best way

to buy back your time sometimes is to

give your time upfront to the right

people doing the right things and so I

really like how you do that okay I want

to open it up um but before that is

there anything else you want to end with

I want to ask I want to ask you a

question uh oh so Cody here is my

question you're starting from scratch at

zero how do you make your first

million here's the problem you have a

recency bias and a confirmation bias

right so what I did did in the past

would I do it again um if I was today

going to make my first million bucks and

let's remove the relationship and the

social and all the distribution yeah I

would go and come really valuable to the

most valuable person I could find I

wouldn't a lot of people would say I'd

go build my old social media I wouldn't

do that from scratch actually I would go

and immediately probably try to glom on

to somebody I could find in any sort of

industry and I would deliver that thing

I just told you I'd deliver the most

valuable thing that I because I have

inherent knowledge know and I deliver

that to probably 10 people because nine

of them are going to say no and one of

them is going to think that that's

really useful and I'm probably not going

to ask for much money so I'm probably

going to like bartend do something

something on the side and say like pay

me whatever you think this is worth or

let me take a cut of whatever you think

this is worth and then I would go and

work for somebody else who already has X

because there's a weird thing about

money which is when somebody has money

already and you can accelerate their

money you can make money faster if I had

to go start from zero do again yes I

could go start from zero get my first

couple thousand dollars and work my way

up or I could leverage Dan's money uh

much more intelligently and as long as I

took zero from him and said I only want

side only pay me if this wins and

succeeds and it's just net you know to

you and then some net to me on top um

that's what I would do and I also think

it's ridiculous somebody else asked me

this question the other day and their

answer was like I would go become a

YouTube Star

like you know I don't know if you guys

saw the ad revenue on YouTube you'd be

like no you wouldn't and so and also

everything's really expensive these

cameras are like 770 $80,000 so the best

thing that you can do is get in

proximity to people who already have

power and figure out a way to become

more valuable to them than anybody else

it is such a great answer you have no

idea how freaking awesome that answer is

because and and honestly I've asked that

question a lot of people and nobody's

giving me that answer interesting yeah

but in hindsight when I think about it

all the people in my life that are my

business partners is because they did

what Cody just said when you can come to

somebody and say hey I'm going to take

nothing I'll do all this work I'm going

to bet on me and I just I'll take 10% of

The Upside they then they have unlimited

leverage cuz I have whatever amount of

capital it's like how many times would

you know you give me a dollar or like

you know you trade a dollar for 10 it's

like how many times you want to do that

trade so that's actually a brilliant

idea yeah it's true I mean Lloyd

basically was hugely valuable in our

membership and did it for nothing um and

was incredible at it for like three

years basically and then finally when we

had this new position I was like wait a

second I feel like Lloyd is the perfect

guy for this position and we want to do

some deals together and so that's

happened sort of again and again and

again so I totally agree okay let's open

it up to you guys who has the first

question for Dan

Athena um so you talked about you know

getting time with people that would be

you know you derive some value from that

conversation but a place I find myself

in very often is people asking to pick

my brains right and also like asking for

things that's actually proprietary to my

business so you mentioning opening the

kimono and taking time I'm curious

because I know both of you probably get

these pick my brain requests all the

time and asking to see how your business

runs so how do you how do you respond to

those in a way that's still warmhearted

and or you know some of these people

potentially could be clients so what's

the pivot there that's yeah I mean

there's there's a lot of filters let me

I'll give you some tactical stuff so

first off I love everybody and if I had

all the time and unlimited Reas

resources I would spend oneon-one time

with each and every one of you but I

can't CU I have kids and anytime I say

yes to something this is a big idea

every time you say yes to somebody else

you're saying no to your dreams and

goals and every time you say no to

something you're saying yes to what

you've already decided you want to go

achieve so understand a no is yes and a

yes is a no so knowing that what I do

because I do want to make myself

available for anybody and I'm I'm one of

the few people that probably do this

it's kind of naughty anybody can fly to

where I live and on Tuesday morning

there is a hike it's called the founders

hike it's at 6:30 in the morning and

you're invited and people fly in from

all over the freaking world there's a

guy from new two guys from New Zealand

Dubai we almost killed a guy from

Louisiana it's

a it's a real hike all right people I

live in

Canada like this guy we had to put his

Apple watch on his heart rate cuz I was

like if it stays above 165 too long I'm

going to stop the hike and you'll wait

for us on the way down it's not that

crazy like it's just a 45-minute hike

but in that time uh there's a bunch of

us that do it and and I that and I'll

tell you why I do that I had a mentor

once and I reached out to him and I mean

cold email but you know local person

knew my name I had a small business and

I asked him for time and he said meet me

at in Canada you guys know Tim Hortons

anybody Canadian all right cool so meet

me at Tim Hortons right it's like the

Dunkin' Donuts of Canada and uh but it

was 7 a.m. on Sunday morning and I was

like why does this guy want to meet at

7: a.m. back I was

203 24 right 7: a.m. was early I was

like this is weird so anyways I went

there suit and tie all dressed for

Success you know and he shows up in like

normal t-shirt and stuff and but this

guy was the owner of the number one

software company in our town and at the

end of it I said uh Steve his name is

Steve Palmer I said Steve I'm just

curious man why did you want to meet at

7 a.m. at Tim Horton's on a Sunday

morning don't you have like your family

and stuff you

go it's a filter and if you would have

barked at that it would have been a no

and the fact that you showed up dressed

like that by the way

crazy I was like okay I don't know you

know uh it shows me you're serious so

that's how I do it so for 99% of the

people that I do not know that cold

email that want to pick my brain buy me

coffee buy me meal I don't need coffee

or meals you can come to the founder

site and literally an has an auto

reply for everybody else the way I

decide

is a here's where I want to go because

again every yes to somebody else is no

to my kids if you guys put that into

context your family members or your

health then you would be a lot more um

discriminate with your time see I just

think a lot of people step one to buy

back your time is value your

time some of you do not value your time

and it's probably because of a self-

worth thing so I definitely um I will do

15minute meetings if it's one-on-one I

like doing uh dinners so I like to I

mean we did a dinner with eight people

and the cool part about that is is

oftentimes you know I can help them but

really maybe they need meet somebody

else there's eight people there I can

deepen relationship with other folks so

it's it's a really high leverage

activity so I do those all the time I've

got one tonight I done one almost every

night I've been here and then uh I'm

just really good at saying no I'm okay

with saying no and sometimes you'll have

you know a false positive or whatever

it's called false negative where that

you said no to somebody you shouldn't

have and that's a feedback loop and

that's okay and I live in abundance and

if that hurts their feelings that's on

them it's not on me it's really good

yeah the only thing I'd add to you know

what do you do when somebody's trying to

steal your time and you know the the

numerous picky brain requests um I use a

filter for even responding to emails um

because it's just the amount of stuff

that comes at you and I always ask them

to do asking me for work I asked them

for work first so good so immediate

response would be something like hey uh

you know what I think is helpful to most

everybody cuz all the questions are the

same thing how do you buy a business how

do you run a business like you do how do

you become successful whatever the case

may be and I always give them a book so

I just say and thing hey this is a link

to a book that I think is really useful

to you go ahead and read this and if you

have any questions afterwards let me

know do you know how many people follow

up with me on

that2 and so the you know I think if

people want you to do the work for them

kind of immediate red flag and this is

like normalized but you could say you

know it be a perfect example you'd go

hey you want to learn about how to buy

businesses go read contrarian go read

like these five articles on contrarian

thinking is free business buying

newsletter come back to me with your

specific questions then you know they're

a player they're willing to do some of

the work first um and if if you feel

weird deferring them to something like

that I always go oh man I I hate giving

any version of a shortened um

non-contextualized response there's

nothing worse than off-hand advice that

somebody gives you without really

understanding your situation so before I

give you any any advice I want you to go

do this thing over here because then we

at least have context we have set

definitional understanding and so um

that's one thing that's helpful to me

and then uh I set a lot of rules around

how people can get to me and so you used

something before that was like what I

would term like

strategically uh incompetent oh yeah

strategic you know like that's good you

know like oh strategically incompetent

how would I do that I don't know how

would you do that which is I need to do

that more you're really good at that

yeah really good at playing stupid I

should I I got to save your complex like

you wouldn't believe but the the the

second thing that I found is just being

strategically um what do we say we say

we're easy to find hard to reach I'm

easy to find I'm all over the Internet

anybody can find me I'm impossible to

reach I never respond to text messages I

barely do emails I have rules around

voice notes I don't [ __ ] do them d l

our friends I do not want to have you

whisper in my ear like it's so creepy a

stranger hey um just uh saw your video

like no no yeah out I want that Apple

update creepy what about when this

person could be a potential client maybe

they don't understand ask what they're

looking for I mean to Cody's point you

know like I like I just I'm always like

my response is always positive and

exciting again I don't do it an does IT

team does it but it's like oh thanks for

reaching out super appreciate would love

to meet up but before I do that could

you give me a bit more cont cont what do

you what specifically do you need CU I

again strategically incompetent I

actually might be the wrong person to CH

chat with and then you put homework on

them again half of those people will

never reply yeah so that just told you

they they probably sent that email to 14

people right and they were just looking

for anybody to go like yeah let's me

copy because they want to sell you

insurance but you know what you actually

have there you don't have an Outreach

issue in this case if they're going to

be a client you have a business model

issue you have a business that is a

service not a productized service that

you can standardize that people actually

can fall into you have both of our least

favorite types of businesses he's the

SAS King because he wants to build once

sell continuously and I bet his advice

you would be something like create a

product ised service that allows

somebody to buy some component yeah uh

as opposed to RFP for their time which

is what you're doing when they're like

can we talk first you're you're having

to apply for an RFB and that's not the

type of business model you actually want

to run long term you're pretty big on

productized models yeah I don't do

custom some Job Shop anything it always

it's hard I try I mean it's it's so

funny though because it's the easiest

business to start and it's where

everybody goes to immediately even you

know like my husband we have a couple

businesses and he'll be like we have

this huge opportunity to do an RFP for

them I'm like nope shut it down no you

either press the button and buy or you

don't okay let's do another question

here yes Robert you talk about the value

of failure and how getting through that

enables you to buy back your time yeah I

mean John Maxwell wrote a great book

sometimes win sometimes you

learn and that's just the way I think

about it so I just start with the

premise anytime I start any company this

might be a little weird for you guys I

just assume I'm wrong what a crazy frame

if I start a new business the first

thing I believe is I am wrong now I'm on

a journey to validate that I'm right so

my conversations my Approach are

completely different so when I fail I

actually get excited because I'm like

that doesn't work let's not do that

again perfect how fast can I move

through an experiment get to a place

where I learn and that I would say

that's actually like when we think of

like poor mindset Rich mindset that's

the difference between the people that

are wealthy is that they don't call it

failure like I can't remember last time

I was like I failed nope I learned I got

to a place of experience yeah I think I

have the same take on that the only

thing that I might add there is the

other thing that I've noticed really

successful people don't do is there's

not a lot of blame like I've noticed on

my team sometimes somebody go oh that's

my fault cuz I did X or Y or Z or like I

should take the blame for that I'm like

why would we ever use that word blame

like the only reason that you should

blame yourself for something or you

should accept quote unquote fault is if

you did something on purpose

repetitively otherwise it's not that

it's oh wow this happened hm we should

have done this what did we learn

differently about that I did take that

part next time I'd like actually to do

this I hate that blame work and I think

that like lines up directly with failure

and if you start blaming yourself for

failures you really get into trouble you

used the word Rich earlier and then now

you're using wealthy could you kind of

provide some context on the difference

of the two I'm just going to tell you

what I think wealthy is I think wealthy

is realizing you've already arrived the

place you're trying to get to to become

the person that you can be

today I like that I'll just like leave

that little nugget for you to think

about what I just said love that okay

who's got another question can you elate

a little bit on the manage energy not

time because some of the books that I

read usually they say eat the Frog first

like you know you start with the most

complex task then you have the energy

and then go down to a smaller task that

you can tiest later um is that something

that you sub it is 100% part of it um

but it's also more like in the book I

have this thing called the buyback Loop

which is how I have done everything I've

ever done in my life it's how I execute

and grow and scale and every year my

life gets better and better and better

bigger but better it just is and and if

you look at the formula like well of

course it would have to because one of

the concepts is is doing a twoe time and

energy audit depending on how my how how

big my life is growing this year I might

have to do it three times a year once a

year twice a year but part of that is

evaluating what things in my calendar

give me energy versus take my energy

does that make sense so what's funny

though is is one of the big ideas that

people have to remind themselves is

something can start off as a bright

green love this and immediately turn

into a yellow and then a red but you

forget to reassess so for example I was

a board member on a in a company and at

first it was awesome and then it was

like oh this is boring well I don't want

to be on but I forgot to renegotiate

with the people to resign from the board

to create the space and it sounds so

subtle because it's like it's only a

90minut call maybe once every six weeks

it's still 90 minutes I want my 90

minutes back right or the other day I

was doing I do one-on ones with my

direct reports I don't have a lot but I

still have them and I noticed they were

60 Minutes in the calendar because

they've always been 60 minutes and we're

always finishing early so guess what I

did shrink them down 45 so now all my

101s are 45 times 5 that's I get back a

couple so like my whole thing is yes

start the morning so if you follow I

have a whole video on my morning routine

first thing I do in the morning is work

on the thing that needs to get done the

Frog for sure because that's where your

mind's the fresh as you're connected you

know it's awesome but I also look at the

work I do and that's why I buy back your

time is really about buying back the

time from not doing the stuff to take

your energy that costs very little to

have somebody else support you on and

that's that's the thing and it doesn't

there's a whole chapter called the time

assassins because it costs zero doar to

buy back your time you just got to stop

doing the five time assassins so people

think I don't have the money I've got a

job I can't buy my time back no you can

by not doing the five time assassins

what are the five time assassins that's

always good when you wrote are you WR

your book right little tip memorize the

things you know people are going to ask

I I knew as soon as I said that

somebody's going to ask me but it's the

sa I know okay please if you don't mind

reading my book okay yeah that that part

that part always stresses me out too

there's five SES the staller yes okay

that yes do you want to talk about I

will I'll do it real quick the staller