How to go from $0 to MILLIONAIRE [33 min training]

Summary

Laila Hormozy, co-CEO of Acquisition.com, shares her journey and strategies to scale a business from zero to a million dollars in revenue. She outlines the four stages of entrepreneurial competence, from 'unconscious incompetence' to 'unconscious competence,' emphasizing the importance of learning, consistent selling, and overcoming fears. Hormozy provides insights on mastering sales, leveraging marketing, and focusing on one product, one channel, and one customer avatar to achieve business growth and success.

Takeaways

• 🚀 The speaker, Laila Hormozy, is the co-CEO of Acquisition.com, a portfolio of companies with about 100 million per year in revenue, and aims to help businesses scale from 3 to 10 million in revenue for free.
• 🎯 Laila emphasizes the importance of focusing on the journey to reach a million dollars in revenue, which is a milestone many businesses struggle to achieve.
• 🤔 She addresses the common question of how to make a million dollars and shares her experience in helping businesses reach this revenue mark, including her own journey.
• 🏋️‍♂️ Laila's entrepreneurial journey began with a personal fitness transformation, which led her to want to help others achieve similar results, eventually leading to her business ventures.
• 🔧 The concept of the 'hierarchy of competence' is introduced, outlining the stages of learning for any new skill, which applies to the process of scaling a business to a million dollars.
• 🌱 The four stages of entrepreneurship to reach a million dollars are defined as Entrepreneur, Starter, Producer, and Master, each with its own characteristics and challenges.
• 🔄 Laila discusses the common reasons why people get stuck at different stages, such as fear, a safety net, and lack of support, and how to overcome these obstacles.
• 🛠️ The importance of mentorship, resourcefulness, and ruthless execution is highlighted as crucial for moving from being a Starter to a Producer.
• 📈 The transition from a Producer to a Master involves mastering sales and leveraging marketing, as well as managing a team to create a more consistent and reliable business.
• 🎯 The key to reaching a million dollars is consistency and mastering the fundamentals of sales and marketing, rather than constantly seeking new opportunities or distractions.
• 💡 The final message is the power of focus and the need to say no to distractions in order to achieve the goal of making a million dollars and beyond.

Q & A

What is the primary goal of Laila Hormozy's channel?

The primary goal of Laila Hormozy's channel is to help businesses grow from $3 to $10 million in revenue for free.

What is the focus of the video that Laila Hormozy discusses in the script?

The focus of the video is to provide a framework for individuals to understand how to get their business to a million dollars in revenue.

What is Laila Hormozy's background in terms of business experience?

Laila Hormozy has personally sold over 3,000 fitness programs, serviced over 6,200 high ticket B2B customers, and built and sold three businesses in different sectors, each for multiple eight figures.

What is the significance of the 'Eating [__]' stage in Laila Hormozy's entrepreneurial journey?

The 'Eating [__]' stage refers to a challenging period in her career where she and her business partner lived in extended stays, worked tirelessly, and traveled extensively to turn around gyms, which eventually led to the success of their business, Gym Launch.

What does Laila Hormozy attribute her success to, apart from hard work?

Laila Hormozy attributes her success to being smart enough to achieve it and dumb enough to believe it's possible, emphasizing the importance of self-belief.

What is the 'Hierarchy of Competence' and how does it relate to making a million dollars?

The 'Hierarchy of Competence' consists of four stages: unconscious incompetence, conscious incompetence, conscious competence, and unconscious competence. It relates to making a million dollars by illustrating the learning process one must go through to consistently sell something people want, achieving product-market fit.

What are the four stages of entrepreneurship to reach a million dollars as outlined by Laila Hormozy?

The four stages are Entrepreneur, Starter, Producer, and Master. Each stage represents different levels of competence and understanding in the business growth process.

What is the main challenge for someone in the 'Producer' phase according to the script?

The main challenge for someone in the 'Producer' phase is achieving consistency in their business. They may have some sales and marketing skills but struggle with reliability and stability in their revenue.

What advice does Laila Hormozy give for overcoming the fear of the unknown when starting a business?

Laila Hormozy suggests creating more safety in the unknown than the known, or 'burning your boats' by eliminating the safety net, to force oneself to commit fully to the new venture.

What does Laila Hormozy suggest as a method to gain clarity and move forward as a 'Starter'?

Laila Hormozy suggests investing in a mentor, course, or coach to gain clarity. She emphasizes the importance of ruthless blind execution and being resourceful during this phase.

What is the role of 'focus' in achieving a million dollars in revenue, as discussed by Laila Hormozy?

Focus is crucial in achieving a million dollars in revenue because it allows an entrepreneur to concentrate on one product, one channel, and one avatar, blocking out distractions and maintaining consistency in their efforts.

Outlines

00:00

📈 Introduction to the Million-Dollar Business Journey

Laila Hormozy introduces herself as the co-CEO of Acquisition.com, a portfolio of companies generating around 100 million per year. Her channel aims to help businesses scale from 3 to 10 million in revenue for free. She addresses a common question about reaching the first million in revenue and shares her experience in helping businesses achieve this milestone. Laila outlines a framework for reaching a million in revenue and invites feedback from viewers. She also discusses her personal journey, from having no management experience to selling fitness programs and building successful businesses.

05:01

🚀 From Zero to One Million: The Entrepreneurial Struggle

This paragraph delves into Laila's personal struggles and her path to becoming a successful entrepreneur. She talks about her transformation from a troubled past to a driven individual focused on fitness and personal development. Laila shares her early attempts at entrepreneurship, including moving to California, working at 24 Hour Fitness, and venturing into online training. She emphasizes the importance of persistence and the willingness to learn from failures, highlighting her journey from the 'eating [__] stage' to the establishment of Gym Launch and Prestige Labs, which eventually scaled to 50 million in 20 months.

10:02

🎯 The Four Stages of Entrepreneurship to Reach a Million Dollars

Laila outlines the four stages of entrepreneurship necessary to reach a million dollars in revenue: Entrepreneur, Starter, Producer, and Master. She explains that each stage represents a different level of competence and understanding of one's own skills and business. Laila emphasizes the importance of learning and growing through each stage, from being unaware of one's deficiencies to mastering the skills needed to consistently sell a product or service that customers want.

15:04

🤔 Identifying and Overcoming Obstacles to Reach a Million

In this paragraph, Laila discusses the obstacles that prevent many entrepreneurs from reaching the million-dollar mark. She identifies three main reasons: negative influences from one's inner circle, the security of a safety net that prevents taking risks, and fear of the unknown. Laila suggests strategies to overcome these obstacles, such as seeking mentorship, breaking perfectionist tendencies, and surrounding oneself with successful individuals who can provide valuable guidance.

20:05

🛠 The Producer Phase: From Inconsistency to Predictable Growth

Laila describes the transition from a Starter to a Producer, where an entrepreneur begins to see some success but still faces inconsistency. She explains that at this stage, an entrepreneur starts to wear multiple hats, handling sales, billing, and other aspects of the business. The key to moving past this phase is to find mentors, understand the importance of adaptability, and focus on sales and marketing skills. Laila also discusses the common pitfalls at this stage, such as the fear of hiring and the struggle to let go of control.

25:06

🏆 Achieving Mastery and Consistent Revenue Streams

In the final paragraph, Laila discusses the Master phase, where an entrepreneur has achieved consistent sales and predictable growth. She emphasizes that reaching this stage requires hard work, focus, and the ability to leverage systems and people effectively. Laila also addresses the challenges of maintaining this level of success, such as avoiding shiny object syndrome, the fear of hiring, and the overcomplication of systems. She concludes by stressing the importance of focus and strategic choices in order to continue growing a business beyond the million-dollar mark.

Keywords

💡Entrepreneurship

Entrepreneurship refers to the process of designing, launching, and running a new business, which typically involves taking on financial, psychological, and societal risks. In the video, the concept is central to the narrative as it discusses the journey from startup to achieving a million dollars in revenue. The script outlines the four levels of entrepreneurship, illustrating the progression from 'unconscious incompetence' to 'unconscious competence'.

💡Revenue

Revenue is the total income generated by a business from its business activities before any expenses are deducted. The video's theme revolves around growing a business to achieve a specific revenue milestone of one million dollars. It discusses strategies and mindset shifts necessary to increase revenue and reach this financial goal.

💡Mentorship

Mentorship is a relationship in which a more experienced or knowledgeable person guides a less experienced or knowledgeable one. In the script, mentorship is highlighted as a key component for personal and business growth, with the speaker discussing the importance of seeking guidance from those who have achieved the level of success one aspires to reach.

💡Product Market Fit

Product market fit occurs when a product satisfies a significant need in the market and is able to attract and retain a stable customer base. The video emphasizes the importance of achieving product market fit as a critical step in growing a business to a million dollars in revenue, suggesting that understanding and meeting customer needs is fundamental to business success.

💡Sales

Sales refer to the process of persuading someone to buy a product or service. The script discusses sales as a vital skill for entrepreneurs, especially in the early stages of business growth. It suggests that mastering sales is crucial for generating the revenue needed to reach the million-dollar milestone.

💡Marketing

Marketing is the action or business of promoting and selling products or services. In the video, marketing is presented as a key technical skill that entrepreneurs need to acquire and refine to effectively promote their offerings, attract customers, and ultimately increase revenue.

💡Leverage

Leverage, in a business context, refers to the use of various means to increase the potential return of an investment or to gain an advantage. The script discusses leveraging as a means to scale a business beyond the initial stages, including hiring additional help and investing in marketing to increase sales and revenue.

💡Consistency

Consistency in business refers to the reliable and steady provision of products or services and the regularity of sales or operations. The video emphasizes the importance of consistency over intensity, suggesting that maintaining a steady effort over time is more effective in reaching the million-dollar revenue target than sporadic bursts of intense work.

💡Fear of the Unknown

Fear of the unknown is the anxiety or reluctance that arises from facing new or unfamiliar situations. In the script, this fear is identified as a common obstacle for entrepreneurs, preventing them from taking risks necessary for business growth. The speaker encourages overcoming this fear to progress towards the financial goal.

💡Shiny Object Syndrome

Shiny Object Syndrome is a term used to describe the tendency to become easily distracted by new, exciting opportunities at the expense of focusing on current goals. The video warns against this syndrome, suggesting that entrepreneurs who reach a million dollars in revenue should avoid spreading themselves too thin by diversifying into too many new ventures.

💡Focus

Focus refers to the state of concentrating attention on a particular subject or task. The script concludes with a strong emphasis on the importance of focus in achieving business success. It suggests that the ability to concentrate on one product, one channel, and one customer avatar is key to moving from one million to ten million in revenue.

Highlights

Laila Hormozy introduces herself as co-SEO of Acquisition.com, a portfolio of companies with around 100 million per year in revenue.

The channel's goal is to help businesses grow from 3 to 10 million in revenue for free.

Laila addresses the common question of how to reach a million dollars in revenue, sharing her experience from helping businesses achieve this milestone.

She outlines a simple framework for reaching a million in revenue, based on her own journey and insights.

Laila shares her personal story of transformation from a troubled past to becoming a successful entrepreneur.

She emphasizes the importance of starting with a clear idea and the willingness to learn and improve.

The concept of the 'hierarchy of competence' is introduced, detailing the stages of learning for any new skill.

Laila discusses the four levels of entrepreneurship to reach a million dollars: Entrepreneur, Starter, Producer, and Master.

She explains why most people get stuck and how to level up past the 'Eat [__]', a stage characterized by hard work and little financial gain.

The importance of mentorship and finding the right guidance to navigate through the stages of business growth.

Laila talks about the transition from doing everything oneself to delegating tasks and managing a team.

The video emphasizes the need to overcome fear, resist shiny object syndrome, and maintain focus on one's business.

She discusses the challenges of scaling a business from one million to ten million dollars and the importance of consistency.

Laila shares insights on how to identify and overcome the barriers that prevent businesses from reaching a million dollars in revenue.

The video concludes with a call to action for viewers to reflect on their current stage and identify the next steps for growth.

Laila invites feedback and encourages viewers to share their thoughts on the video's content and style.

Transcripts

what is up welcome to my channel my name

is laila hormozy co-seo of

acquisition.com which is a portfolio of

companies that is about 100 million per

year in revenue and my goal with this

channel is to get you from wherever

you're at in your business between 3 to

10 million in revenue for free that

being said video that i have made for

you today is actually um i try to really

break down because i get this question a

lot i get this question leela how do i

get to a million dollars in revenue and

i talk a lot on this channel about how

to get to you know 5 million or 6

million or 10 million i think honestly

guys like that's because i don't know

that's where i live and that's where i

spend most of my time is just helping

people who are already at you know

between three and six but for a really

long time in my career in fact the six

years prior to starting acquisition.com

all we did was help people get to really

that one million revenue mark and so i

kind of put my head down and worked a

couple weeks on this presentation really

outlined like a simple framework for how

to get to a million in revenue so uh let

me know what you think in the comments i

hope this is valuable and useful for you

if it's not let me know if it is let me

know i would just like feedback so enjoy

the video and uh hope that i've earned

my whatever 40 45 minutes that this is

all right like i said in the

introduction today we're going to talk

about how to make a million dollars so

this is definitely a different kind of

piece of content because i usually talk

about

you know making eight figures or like

you know being the ceo etc but a lot of

people ask me like how do i make a

million dollars and i kind of want to

put together like a generic

how-to for those people that are asking

and so this is gonna be a little bit

different than my normal content but i

think it's really important so if you're

starting out and you're at zero or

you're at you know i don't know 10 grand

a month 20 30 40 50. whatever if you're

not making a million dollars yet this

video is for you that being said what i

want to share today is really a couple

things the four levels of

entrepreneurship to get to a million

dollars because i can talk about and i

have talked about you know levels of

entrepreneurship to get to 100 million

plus but i haven't talked about how to

get to a million and it's really a

journey of its own i also want to

include in there why most people stay

stuck and don't make a million dollars

and then how do you level up past this

that being said who the heck am i and

i'm reintroducing myself to those who

don't know who i am because i think that

you know hopefully this video uh helps a

lot more people than typically watch my

channel and i think that it would do you

disservice not to explain why i'm

qualified to talk about this at all so

for the last half decade i've taken home

an average of a hundred and a hundred

one million and two hundred

i don't even know how to say the name uh

over a million dollars 1.2 million

dollars a month as a 29 year old from

portage michigan so i have personally

sold over 3 000 fitness programs

serviced over 6 200 high ticket b2b

customers provided supplements to over

200 000 people in the united states and

personally built skilled and sold three

businesses one service one sas and one

e-commerce four multiple eight figures

for each one so i say this not to sound

uh like i'm pumping myself up but to

motivate you because crazy enough is i

started where all of you guys are right

now so if you're watching this you

haven't made a million dollars i had no

[ __ ] experience before i made a

million dollars in fact no management

experience i had no formal training i

didn't barely had taken any courses and

somehow i still managed to make a

million dollars so if you have zero

experience you can still do it too that

being said you know it really started

with um and many of you can relate to

this because there's something in your

journey that probably got you started

wanting to be an entrepreneur or make a

million dollars for me it was my fitness

journey so as you can see over here on

the side i was a fat and you know

basically drinking all the time i got

arrested six times you know i just

didn't know what i was doing with my

life and i felt honestly terrible about

myself and it wasn't until you know one

day i kind of woke up to realizing that

if i kept going down that path i was

just going to become this person that i

really really really [ __ ] didn't want

to be and so it's really driven from a

place of insecurity and fear that you

know drove me to you know lose weight

and really go into my fitness journey

stop drinking stop doing drugs stop you

know being a [ __ ] ass and turn my life

around and it really changed me as as a

person entirely so naturally what i want

to do is help other people do the same

and i see this a lot in people that are

you know starting their first business

is it kind of is derived from something

you did for yourself you know like

you've achieved something for yourself

you figured out something for yourself

and now you want to help other people do

it too and so for me that was in fitness

and so i actually end up moving from

michigan to california i didn't know

anybody i took my prius packed it up two

days after i graduated college i drove

out there and i was like i'm just gonna

go apply to uh every gym that i can

think of and try to get a job some more

and that being said i ended up getting a

job at a big box gym called 24 hour

fitness in california and then i kind of

started dabbling in online training you

know i'm doing fitness i'm learning that

i'm realizing that it's all sales and

marketing and you know the fact that i

know how to move your elbow the right

way nobody gives a [ __ ] about and so i

started dabbling in online training

because that was actually really hot

back then and then at that point that

was really the peak of my fitness career

right so i was drinking monster all day

i was doing fitness exercises i was

doing competitions i was doing races

training people all day and i kind of

knew that i wanted to do something in

fitness but i felt like this is just too

much like this is not efficient i'm

trading time for money and i wanted to

figure out a way to leverage myself and

so then i met this stranger on the

internet um actually i met him on bumble

uh you might know who he is his name is

alex romosi he also has a youtube

channel that is really great and i met

alex and he was basically like uh

you know quit everything you're doing

and you'll make way more money if we do

this gym launch thing together and i was

like dude i've got an opportunity to

have an online business i have an

opportunity to or not to be in a gym and

like i don't understand and he was like

i swear to god you'll make way more

money if we do something together and i

was you know 23 at the point at that

point and really young and so i was like

[ __ ] it you know like worst case

scenario i live on my parents couch and

like that's not even bad at all like

i've done that before

it's like high school all over again so

we launched essentially a gym turn

around business together and that's when

we entered the eight [ __ ] stage and this

was when we had essentially no money we

were living out of extended stays

basically what we would do is we would

do the marketing and sales for jim and

we would fly out to that gym uh so i'd

be like in hawaii he'd be in virginia

we'd fly out to the gym and we'd do the

marketing and we'd sell people into

their facility and then try and you know

semi help them keep those people at that

point you know we had no money we were

you know working all the hours of the

day plus more living out of motels

extended stays and uh flying around all

the time so i think we did like 33

cities or some crap like that in 18

months i mean it was just it was bananas

and so that's why i called the eat [ __ ]

stage after nearly two years of being in

the eating [ __ ] stage we finally found

some success after tons of having money

stolen and losing everything and having

only a thousand dollars left and getting

our processors shut down just tons of

crazy [ __ ] we finally got some success

and that's when our company jim launch

was born really from there it just

continued to go up uh you know we had a

lot of success stories we had if you see

everyone on the swords over there it's

all those people making a million

dollars that's the first team picture we

ever took and then we had some more

success alex wrote a book called jim

launch secrets we were able to donate

actually we donate over two million

dollars to after school all-stars we

started prestige labs which is an

e-commerce uh supplement line and really

we actually were able to scale from

nothing to 50 million in 20 months and

so i say this to impress upon you that

anybody can do it because listen i'm not

the smartest person in the world i in

fact don't think there's anything

uniquely special about me i just am

smart enough to do it and dumb enough to

believe it's possible that's what i like

to say and then that chapter ended right

we actually end up selling gym launch

and prestige labs to apg which is an

investment group and promoting uh maggie

and kale owen to become a ceo and ceo of

those businesses and they're actually

doing really well they're continuing to

grow without us and um you know we moved

on to kind of our next chapter which we

really took 18 months to think about

what we would dedicate our rest of our

lives to and we decide on

acquisition.com and acquisition.com is

really our mission is to document and

share the best practices that build

world-class businesses and we do that

guys by we talk to 30 businesses a week

we work with all the portfolio companies

that we are invested in and we take

those practices and we share them here

on youtube for free and the reason for

that is because alex and i had to ask

ourselves like what is something that we

would do if we were never paid for it

and i [ __ ] wish that i had had

somebody telling me and sharing with me

like unapologetically and without any

scarcity all the stuff that i i needed

to know when i was building my business

and i wish i'd had that information and

so you know that's what we do and as for

the portfolio companies like i wish i

had had some on that i could just bounce

everything off of who'd already been

there who'd already done it and they

were there honestly whenever i needed

them and that's what we are to them and

so that is when we decided to start

acquisition.com to kind of uh you know

bring it back around what i have

realized in in doing this is that many

of the people in fact we get about you

know almost a thousand inquiries a month

for acquisition.com only three percent

of businesses actually ever make only a

million dollars in total revenue so we

often more than often than not you know

i would say 60 of those people haven't

even made a million dollars yet so

they're doing you know 200 grand a year

400 grand a year maybe 500 grand a year

and they're stuck they can't figure out

how to get to a million dollars and so

that is why

i'm making this video today because i

want you to understand that this is what

i see the most of is people that are not

able to get that million a month mark

and i want to kind of provide some

clarity into the patterns that i have

seen over talking to hundreds and

hundreds and hundreds of people

as to why they're not able to get there

and what this means just so you know is

that out of every 100 people only three

are going to hit a million dollars which

is crazy right because there's a lot of

ways that you can make a million dollars

right you could sell a thousand people

into a thousand dollar product you could

sell 500 people into a 2000 product you

could sell 200 people a 5 000 product

you could sell 100 people a 10 000

product there's a lot of ways to make a

million dollars but

despite that you know only three out of

100 businesses ever get there and so

what that means is too is like if you're

watching this video and you haven't had

a million dollars are you one of those

three i think that if you watch this

video you have a higher likelihood of

increasing your success in doing so and

that being said our goal is really to

create free training materials to make

this simple for you guys and that's why

i've created this video today because

what else would i do with my life before

i die and so that's why what i want to

share with you today uh is really what

i've done personally four times which is

i'm not saying i've only made a million

dollars four times but i have gotten

over the million dollar mark four times

personally and i've helped over 200

businesses directly do so indirectly i

would hope it's a lot more from the

content we put out there and such but i

can you know recognize 200 that have uh

been because of our direct teaching that

being said i hope in sharing this with

you and sharing my own story you

understand that i deeply understand

where you are i care because i've been

there that was our bank account when we

had only a thousand dollars and this

wasn't that [ __ ] long ago guys this

is like look at that that's 2016. i

didn't start with any resources in order

to act like we didn't have any more

information than you do today and if

anything i want to give you more

information than i had so you understand

how to get there faster and with less

headache and hopefully people don't rob

you and you lose all your money because

that sucks and so what i want to dive

into is really the repeatable process

that i have learned from how to get from

zero to one million dollars so let's go

in who here has heard of the hierarchy

of competence there's no crowd so raise

your hand at the computer right okay

somebody probably has somebody has

probably not essentially what it is it's

the stages of learning for any new skill

and it looks like this you've got

unconscious incompetence conscious

incompetence conscious competence and

unconscious competence okay so what does

that look like right well unconscious

incompetence is really you're dabbling

in something and you don't know that you

suck yet you're so new to it that you

have no idea how [ __ ] bad you are

and i think everyone starts there and

the only reason you get started is

because of this because if you knew who

bad you were you wouldn't even start the

second stage is conscious incompetence

which means that you're aware that you

suck and you're getting better at not

sucking so you're like i [ __ ] blow

but because i know how bad i blow i know

how much i need to improve in order to

get where i need to go conscious

incompetence is you suck less with

practice and effort so you're like i am

now putting the work in i have a

consistent routine i know what i'm doing

to get better and the unconscious

competence is you don't suck much at all

with very little effort right and so you

might see people that you're like i

don't know how they do that that would

take me hours and days and can't even

imagine it's years and years of

competence built up so it takes very

little effort to have a high output

competence leads to confidence and so

right now if you haven't hit a million

dollars yet you might not be feeling

very confident the thing is that you're

not going to get there until you get

through the period of [ __ ] until you go

through the eat [ __ ] stage where you

feel like [ __ ] you're not confident you

don't believe in yourself you never get

to the other side where you do and so

how does this really relate to you zero

to one million dollars is all about the

learning process of consistently selling

something that someone wants okay what

does that look like alex and i have come

up with this framework for entrepreneurs

zero to one million you have one product

one avatar one channel the problem is

you have no [ __ ] clue what you're

doing that is the problem at zero to 1

million you don't know what to do you

don't know who to ask you don't know

where to go the objective is that you

consistently sell something people

actually want which is essentially

achieving product market fit that is

when you have found something that

customers actually want to buy for the

price that you were selling at or the

value you provide so that being said i

uh i put these into phases that i've

labeled and i'm not going to give you a

revenue level for what these each look

like but i am rather going to label them

because the revenue level is different

depending on the business you're in and

depending on the market that you're in

and so if you look at this when you are

unconsciously incompetent you're really

an entrepreneur you don't know how bad

you are and you're you know looking to

get started but you really just have no

clue how much you suck conscious

incompetence when you're aware that you

suck and you're getting better you're

typically a starter you've gotten

started you've got your feet in there so

you see what it should look like and you

realize that you're very far away then

when you're consciously competent you're

typically a producer which means you are

able to produce money you're making

money right and more consistently and

you suck less but you're not mastery and

then last level is really in unconscious

competence which means you don't suck

much at all and you put very little

effort into not sucking you have

mastered the skill and so in order to

get to one million dollars to

consistently sell something you have to

go through these four stages to get

there and that is why i've observed time

over time again

if you think about this in the context

of something easy like sales which many

people watching my channel might know

this is kind of what it looks like to

master sales it's like when you master

sales it doesn't take much effort at all

and you're very consistent that's when

your sales master so first i want to

define what each of these is so first i

want to start off at unconscious

incompetence which is when you're an

entrepreneur a entrepreneur is going to

be defined as someone who is dabbling

yet unaware of their skill deficits that

are needed to start a business they're

dabbling they have no idea how much they

don't actually know and so typically

what this looks like is you start with

an idea and three months later you have

an idea you have nothing else you have

no business right that is what i would

define as an entrepreneur you have no

tangible evidence to support that you

have a business then you have a starter

a starter is someone who at least gets

started they have actually started the

business they currently have an llc that

they own right consciously incompetent

so they're aware of their deficits and

they're attempting to create positive

business impact through acquiring new

technical skills specifically sales and

marketing that is typically where people

start am i saying that's a hundred

percent of the time no but typically

it's sales and marketing and so what

that might look like is you have an idea

and three months later you do have a

business you have an llc you know you

have something that you have actually

created and put together and then we go

to producer which is when you're

consciously competent right this is

someone who is aware of their deficits

and is inconsistently

creating positive business impact

through their technical skills again

specifically sales and marketing so you

are able to produce results it's just

not reliable so it feels very up and

down erratic there's no consistency in

the business right lumpy revenue etc so

what that looks like is you know you

started the business and then you make

inconsistent progress which is like some

weeks you feel like none someone feels

like there's a ton it's just up and down

and then you go to mastery which is

unconscious competence which is someone

who is aware of their deficits but can

consistently create positive business

impact through practice technical skills

influence and vision a master is

somebody who then once they master just

being consistent at the skill they make

a lot more progress so you can see that

between starting the business and

consistently adding in that positive

progress you add a lot more over time

once your competence breeds confidence

the growth is then exponential getting

to a million is the hardest part if you

can make it there it is much easier once

you get there and this is usually what

happens you hit a million dollars and

then literally it's like compounded and

you hit 10 million so much faster you

hit a million and i can tell you this

i've done it time and time and time

again it's like it takes so much

tweaking and working and skill

acquisition and like breaking of your

own beliefs to get to a million dollars

once you've gotten there you've done a

huge amount of work you just have to

kind of double what you're doing to get

to 10 million it's much more simple so

the question is what level do you fall

into and i would like you to really

think about this like in terms of those

levels of the entrepreneur the starter

the producer and the master where do you

fall and that's going to help you as

you're watching the rest of this

presentation on the youtubes

and so again what i would also say is

that if you're watching this we lose 40

percent of new information that we see

or hear within the first 24 hours so i

say atn always take notes that being

said first off let's go into

entrepreneur what is an entrepreneur

what does it look like and how do we

move on to the next level entrepreneur

you are dabbling you do not know how bad

you suck you are unaware of your suckage

for me what this looked like was uh you

know if i were to say what it looked

like when i was on entrepreneur right i

was doing some online traveling training

with you know some clients online

dabbling in it training some people in

person dabbling with it you know

honestly just mentally masturbating all

day like spent all my time in my head

just like constantly overthinking and

then literally just consuming the shout

out of everything like masters of scale

you know entrepreneur on fire

entrepreneur podcast gary vee tai lopez

rich dad poor like anything i'd get my

hands on i was eating it up

but there was honestly no action right

like i was literally just in my head all

day whether it was consuming things or

was overthinking things and so typically

what it looks like is this right i got a

new idea i bought a domain did nothing

with it bought a new got a new idea i

bought a domain i never actually shipped

the project and i really liked this

little i saw this somewhere i think on

twitter i thought it was hilarious

because i feel like this embodies an

entrepreneur and so if you look at it

really the level you're at as an

entrepreneur you're dabbling without

awareness of your suckage your beliefs

are i'm not sure i could do this so i

will test it out until i am sure of

myself right it's like i can't go all in

because i'm not sure i can actually do

this the key trait of somebody like this

is you're highly cautious the key skill

is the skill is overthinking like you

are overthinking everything and your

time is constantly spent in your head

overthinking that's what it looks like

to be an entrepreneur here's the thing

startups have a 10 chance of success

ideas never executed on heavy zero

percent chance and so if right now

you're watching this video and you're

like i need some inspiration to get

started to tell me i'm going all you

have to do is [ __ ] get it started

like if you just get started you at

least have a 10 chance if you never

start you have zero think about it so

the question really is why do so many

people get stuck there's really three

reasons at this level one i see a lot of

this you've got a spouse a spouse who's

holding you back people around you that

are holding you back it's your spouse

it's your friends it's your inner circle

they don't believe it's possible they

don't root for you they don't support

you it is

much harder not impossible but much

harder to succeed when you're surrounded

by people who are [ __ ] the second is

you've often got some kind of safety net

which i say is the golden handcuffs

which it's probably a high paying job

maybe it's that your spouse has a high

paying job uh there's something there

that allows you to remain safe and so

you feel no need to jump because you're

like well i've got this thing and it's

really good but it's not much you want

it's not for you and then lastly is fear

it's just fear of the unknown and people

don't know how i'm scared of this i was

scared of that humans are scared of

unknown they're they're scared of

situations that they cannot predict and

that's [ __ ] okay you're never not

going to be scared of a new situation

you just have to understand that's just

your brain and how it works it's 2

billion years old or 2 million years old

what the [ __ ] ever

and it's not you this is not it's not

special to be scared you have no unique

situation it's just unpredictable that's

all

and that's why so many people say suck

the question is how does somebody

actually level up at this point a lot of

the time

you have two options which is

create more safety in the unknown than

the known right by basically mentally

tricking yourself or burn your boat so

you have no option for me it was burning

my boats that was what i had to do i had

to quit my job i had to get rid of my

clients i had to say i'm doing this and

if i fail i'm not going to die like if

you fail starting new business you will

not die so like

what's there to be scared of like you'll

be okay so that is how someone levels up

now starter okay

a starter is somebody who is aware they

suck and they are getting better right

consciously incompetent what did that

look like for me when i was a starter

well i'd quit my job i had decided i was

going to go fly around the country and

do this gym launch thing started taking

online courses honestly just testing

stuff you know like i was taking online

courses watching youtube videos reading

books you know all anything i get my

hand on at this point like online

learning was just kind of starting so

it's like not as popular as it is today

so you dig a little bit more i was

flying around the country you know

basically just testing out launching

these gems it was like i would say the

first three were just like complete

tests it was like i don't even know if

this is going to work and that's kind of

what it looked like now what does that

look like um in terms of the level well

i'm a starter i'm aware that i suck but

i am getting better and i'm trying to

get better my belief at this point had

changed my belief was if somebody else

has done it there is a chance i can do

it too and that's really all you need is

like if there's evidence that one person

on this earth who is made up of the same

[ __ ] as me can do something then there's

honestly no reason why i couldn't

my key trait is that i'm resourceful

right and in this in this phase that is

absolutely the number one trait that you

need is to be a person of

resourcefulness the key skill right here

is actually ruthless blind execution

because the thing is like i said when

you're going to a million you just don't

[ __ ] know and you have to be okay not

knowing and you have to be able to act

even when you're not knowing and where's

your time spent at this point you know

you've just started a business you're

just getting in you're 100 sales 50

coaching 50 admin 50 delivery 50 on

billing 50 learning 50 programming 50

marketing you are doing all of it you

are working overtime it is uncomfortable

that is okay you will not be here

forever it is a season and so the

question is why do so many people get

stuck well at this stage there's a few

things that i see that typically prevent

somebody from getting to the next stage

right when i'm talking about you want to

understand the one project one channel

on avatar all those things right in

order to get past the not knowingness

right what do i do next who can help me

who is my avatar what are my values

because at this point you've gotten

started but you have no idea who is my

avatar what is my product what is my

channel how should i market right the

first thing you probably want to do is

invest a mentor this could be a course

this could be a coach this could be you

know something it doesn't need to be

like a person one on one coaching you

but like some kind of program or

guidance because what you need right now

is clarity you have no clarity you don't

know what to do next you have no [ __ ]

clue doing something is better than

nothing and doing something cookie

cutter that somebody else tells you do

is often also better than trying it on

your own because right now you have no

[ __ ] clue so that's the first thing

the second thing is that a lot of people

say suck because they don't break their

perfectionist mentality they get started

and they can't even figure out how to

grow because they won't let anything not

be perfect and so because of that they

actually paralyze themselves and then

they don't do anything they get started

they build the business they get like

one person in there and then they're

like i can't do anything because if i

can't do it to 100 i can't do anything

at all and here's the thing in the

beginning you suck at [ __ ] everything

because it's just you and that's okay if

you don't get past this you don't accept

that you will ever actually reach a

million dollars and then the last part

and this is a theme you'll notice is

that you typically are surrounded by

idiots you know people are just getting

started and you're taking advice from

people who aren't even where you want to

be and it's typically something that i

see in people that haven't reached a

million dollars and i'm like well who

told you that i was gonna do it they're

like well the contractor i got from

upwork said blah blah or like my friend

who is a mechanic said that and you're

like dude

if they're not where you want to be why

are you [ __ ] listening to them that's

not going to help you so you have to

stop listening to idiots you have to

only listen to the people who know where

you're trying to go and have been there

before and so the question on how does

one level up is really just utmost

clarity you need to get clarity of your

avatar and clarity of your product and

you only get that by finding people who

have been there before watching what

those people have done and using that as

like almost like a stilt to get yourself

off the ground because like at this

point it's usually better to replicate

before you innovate because you're just

trying to get started and like you want

to know that the method isn't wrong and

if you've never done it before how are

you going to know if the method is wrong

or not probably only if you find

somebody else who's done it now once

you've gotten started and you've leveled

up past that we move on to the producer

phase okay what's the producer phase

this is when you suck less with a good

amount of practice and effort so for me

what did this look like right well i was

actually making a good amount of sales

um it wasn't like highly consistent but

i was making a good amount of sales i

was wearing all the hats but still

mainly doing sales as a priority but

also doing billing i was also dming

people i was also doing contracts i was

also doing taxes i was literally doing

everything and all of the hours involved

the days and then i started working with

multiple mentors who knew what the next

step was i think that's a big piece of

success when you're under a million

dollars like finding somebody that you

can trust everything that they say is

not going to make sense

probably half of what they say is going

to be applicable to you but it is better

to follow somebody than nobody at this

point because you've no [ __ ] clue

what you're doing and so what this

really looks like broken down you're a

producer you suck less with practice and

effort the belief is that if i want to

be great i have to suck first anyways

that's the thing you don't become great

without sucking

kobe bryant whatever first time i picked

up basketball probably sucked if you've

never done something before of course

you suck nobody's there's rarely

somebody that's naturally talented at

something so to hold that belief and to

think that you must be good in order to

do something is just keeping you stuck

where you are the key trait of somebody

at this point is they're determined they

see a little success they see the light

at the end of the tunnel and they're

like i need to keep [ __ ] going now

the key skill here is you've got

adaptability and sales and light

marketing right at this point in most

businesses that i am speaking to on this

youtube channel you most likely need to

understand sales and some like marketing

in order to get to this point where's

your time spent again

[ __ ] everywhere

you are you are spending your time

everywhere at this point it is pretty

much the same as when you started it is

just getting harder and harder and

there's like it's building up to the

point where you're not going to be able

to do it on your own and so at this

point typically what it looks like when

you've moved in the stage where you can

produce is just inconsistent is you have

a really flexible infrastructure you

might have a digital agency that's

running your ads and you might have like

two vas or something to that extent that

are like helping you with dms or helping

you with something involving the

marketing or sales they're basically

assisting you and helping you leverage

yourself out of the marketing sales just

a little bit and so the question is why

do so many people get stuck right the

questions at this point are should i

spend more money i'm nervous that nobody

will do it like me if i get more people

in here to help me what is a priority

right now and am i stable enough to

invest more into this business at this

point many people stay stuck because you

have science working you have a little

bit of leverage but you're afraid you're

afraid of really committing to it and so

people typically resist trading money

for time you've been so used to trading

time for money that's what you've done

to get here

to trade money for time is very foreign

but the thing is that until you start

you know hiring people paying more money

to leverage yourself you're never going

to get out of the stage the going hand

in hand with this is the need for

control right which is you don't want to

let anybody else do anything because

you're afraid nobody will do it like you

the thing is you have been doing it that

long you probably still suck some

and the longer that you delay giving

this to somebody else the longer that uh

you get better and the person who should

be doing it in the future gets worse and

then lastly is the inability to manage

time effectively is often people are

still saying yes to what they said guess

to when they were a entrepreneur they're

still trying to maintain those

friendships they're still trying to

maintain that lifestyle they're thinking

there's something wrong with the fact

that they're working so much

and they're trying to maintain what they

were doing before rather than

sacrificing for the short term knowing

that you're in a season getting to 1

million is the hardest season

and it requires a lot of focus and

effort the more time you spend on a

daily basis to get there the faster you

will get there the more hours you

dedicate per week to figuring out how to

get to a million the easier it is when

you get to a million and the more time

you'll have back then so it's worth

investing the time letting go of the

control and starting to realize that you

also need to trade money for time and so

if you want to level up again like i

said you want to learn to trade money

for time and then usually take that

money trade it for talent and buy back

your time because at this point what

you've realized is that in order to even

be consistent you have to have one to

two people helping you full time and so

lastly we reach the level of master

right master is when you are able to

make a million dollars what does that

look like it's usually unconscious

competence you have figured out how to

sell something consistently to somebody

that they actually want what this looks

like you are consistently making sales

you have predictable sales you know that

you're going to grow month over month if

you continue making these sales you have

happy customers you have a mentor who's

helping you and you have support so

delivery systems are solid you're not

just you know scrapping things together

you've got some people helping you so

that this isn't like a house of cards

and so here's the thing

if you don't interfere with this process

you will reap the benefit of time

and what happens is that most people

don't allow that to happen they

interrupt the natural process that will

occur to allow you to reach a million

dollars i'll explain what that means in

a second so you're at the level of

master you don't suck and it requires

much less effort so you're saving time

in terms of your expertise your belief

is often that consistency trumps

intensity you realize now that what guy

you started doesn't keep you going

consistency is going to be a more useful

tool right now than intensity key trait

is that you are industrious you're

working your freaking ass off and your

key skill is sales and leveraged

acquisition so you might still be making

all the sales but you have leveraged the

marketing so you are lightly involved

but not nearly as much as you were

where's your time again it's selling

overseeing marketing coaching calls

directing small vendors and contractors

and typically at this point you have

outsourced some of the small admin work

to those people that are on your team

right you've got someone else helping

with billing somebody helps helping with

contracts and you're managing those

people and so what that might look like

again is that you have a few more people

on your side you know you've got uh

three part-time or even full-time people

that are helping you with delivery

you've got outsourced accounting you've

got outsourced marketing and of course

these are not fully outsourced you're

heavily involved in the management and

then you have these people that are

helping you leverage or delivery systems

and that's typically what it looks like

so why do so many people get stuck why

is it that so many people can't level

out here once you've hit a million

dollars how do you level out of a

million dollars it's really actually one

of the hardest transitions for

entrepreneurs

is you ask yourself these questions

right

what if there's a better opportunity

now that you see that you can make a

million dollars you start to think where

else could i make a million dollars look

at all these other cool things i could

do

and then you think

uh this is not another business this is

a new product line i'm going to start

you start thinking i need new things now

i've reached i need something new we

need a new product i think maybe enough

people aren't buying it now and then you

wonder should i hire help how many sops

do i need like what do i need to do to

grow this business

so i would say the first threat to

getting past a million is shiny object

syndrome i can't tell you how many times

i've talked to people once they make a

million dollars they start like four

more businesses and guess what they just

have four businesses making a million

dollars their life is like so [ __ ]

complicated

it's shiny object syndrome

it's thinking that

that new opportunity is better than the

current opportunity but the reality is

you just don't know enough about it yet

to know that it has the same amount of

[ __ ] as the one you are currently in

the second is the lack of ability to

hire you are refusing to hire help

you're thinking i don't know if this is

consistent i don't know what this is

going to look like i don't know i don't

know and you're so uncertain that you

are refused to hire people out of fear

of loss

the thing is you will never win unless

you take some risk and risk at this

point is using is bringing other people

onto the team and knowing that if it

fails you have to fire people or if this

doesn't work out it's on you

but like you're never actually going to

have a business unless you get past that

point

and then lastly is overthinking systems

there's like a thing that happens at a

million where everyone's like i need

sops i need order and i need to have a

million systems in place

and you actually bog your your business

down if you're at a million dollars you

don't need that many [ __ ] systems

you're fine on excel sheets i know

people with 50 million dollar businesses

that run off excel sheets there's

nothing wrong with that it's working

it's working

so at this point you don't need to

reinvest in heavy infrastructure most of

the time and so the question on how do i

level up

is really in 90 of the cases focus

there's this thing that happens when we

hit a million dollars and we think we're

now the special unicorn we're the

special case scenario where's you know

we've got to do something else we need a

new product we need a new business we're

in the wrong opportunity vehicle

and we steal our future success from our

future selves

by quitting too early by giving up too

early by losing focus too early and not

reinvesting in the current thing we have

and so at this point that is when focus

is the utmost important thing that you

could do

you do the boring work

and so i end with this quote which is

strategy is choice strategy means saying

no to certain kinds of things

and in order to get to a million dollars

you have to have the utmost focus which

is often what doesn't get you started

what gets you started is like the

excitement of something new but what

gets you to a million dollars being able

to say no to everything else and focus

on one product one channel one avatar

one task at hand

and that being said guys if you do this

if you can do this the only thing that

compounds faster than interest is

learning once you spend all that time

learning how to make a million dollars

to get to 10 million is not as hard

i promise

is much less difficult but a lot of

people steal that from themselves

because they don't focus and they won't

allow themselves the opportunity to even

get there and so my question

is do you have a clear idea of what you

need to focus on to level up what i

would do after watching this

presentation is identify what level

you're at and then ask yourself what do

i need to do to get to the next level

what kind of person do i need to become

what skills do i need what kind of

people do i need around me and that will

answer the question of what you need to

do to get two million dollars so let me

know uh what you guys think in the

comments of this video this is

definitely a different style than i

normally do and honestly i've had a lot

of people ask me like how do i make a

million dollars and i was like i don't

feel

i don't feel like telling anyone and

putting it into a system and so this

took me a bit of refining and i'm sure

i'm gonna refine it to be better and

better each time but i hope this

provides like a broad picture of what it

takes to make a million dollars so let

me know what you think in the comments

if this was useful and if you like the

style of presentation