10 Years of Business Lessons in 46 Minutes ($0 to Millionaire)

Charlie Chang
27 Jun 202446:53

Summary

TLDRIn this motivational video, 32-year-old entrepreneur Charlie shares his journey to becoming a millionaire by his late twenties and the lessons he learned along the way. He emphasizes the importance of defining personal success, embracing risk and failure, and the value of learning and speed in achieving wealth and happiness. Charlie also discusses the significance of setting real goals, delegating money wisely, and the power of an efficient and growth-oriented mindset. His insights aim to inspire viewers to pursue a fulfilling life, unbound by traditional expectations.

Takeaways

  • πŸ˜€ **Define Your Own Success**: Everyone has a unique vision of a fulfilled life, and it's essential to determine what success looks like to you personally.
  • πŸ’° **Money Isn't Everything**: While financial success is important, it shouldn't be the sole measure of your life's value; true fulfillment comes from a combination of factors.
  • πŸ›‘ **Avoid the 'Money Above All' Trap**: Focusing solely on wealth can lead to dissatisfaction; it's crucial to find balance and not to define life's worth by income alone.
  • πŸ€” **Risk and Reward**: Embrace risk as a pathway to great outcomes; understanding and preparing for risks can lead to asymmetrical benefits.
  • πŸ“ˆ **Learn Continuously**: Make learning a daily habit; the more knowledge you acquire, the better equipped you are to seize opportunities and grow.
  • πŸš€ **Act with Speed**: Success often favors those who act quickly; procrastination can hinder progress, so cultivate the ability to make swift decisions and take action.
  • 🎯 **Set Actionable Goals**: Instead of just setting monetary goals, break them down into specific actions you can control and measure daily.
  • πŸ’Ό **Delegate Wisely**: Once you start earning, learn to delegate tasks effectively. This includes investing money wisely to work for you and not just spending it on necessities.
  • πŸ”„ **Embrace Failure**: View failure as a learning opportunity; it's a necessary part of growth and ultimately leads to better decision-making.
  • πŸ‘Ž **Ignore the Haters**: Don't let negativity or judgment from others deter you from your path. Focus on your actions and growth, and avoid engaging in hate yourself.
  • 🌐 **Influence of Environment**: Your surroundings significantly impact your mindset and success. Seek an environment that encourages and supports your goals.
  • πŸ› οΈ **Pursue Efficiency**: Strive for efficiency in all aspects of life to maximize productivity and minimize wasted time and energy.
  • πŸ“š **Utilize Social Media for Learning**: Instead of aimlessly scrolling, use social media as a tool for learning and self-improvement by following content that adds value.
  • πŸ“ˆ **Marketing Matters**: For business success, prioritize marketing efforts as they are crucial for attracting customers and generating sales.
  • 🏦 **Master Tax Strategies**: Understanding and implementing tax strategies can significantly impact your wealth accumulation and financial freedom.
  • 🏠 **Leverage Real Estate**: Real estate can be a powerful tool for reducing taxes and increasing wealth through strategic investment and understanding depreciation.
  • πŸš€ **Be Untraditional**: Don't be afraid to forge your own path. Success often lies in taking the road less traveled and embracing opportunities that align with your passions and goals.

Q & A

  • What is the primary focus of Charlie's video?

    -Charlie's video focuses on sharing life lessons and advice on how to achieve wealth, happiness, and success, emphasizing the importance of defining one's own version of freedom and success.

  • What does Charlie consider as a successful and fulfilled life?

    -Charlie defines a successful and fulfilled life as enjoying life while doing things he enjoys, making good money, and having complete freedom, rather than just focusing on financial wealth.

  • Why does Charlie emphasize the importance of risk-taking?

    -Charlie emphasizes risk-taking because he believes that every good thing in his life has come from taking risks, and without risks, one is likely to live an average life.

  • What is asymmetric risk according to Charlie?

    -Asymmetric risk, as described by Charlie, refers to the concept where calculated risks, informed decisions, and preparation can tip the odds of success in one's favor, making the potential for positive outcomes greater than the negative ones.

  • How does Charlie view failure?

    -Charlie views failure as an essential part of success. He believes that failure should be embraced as it provides learning experiences and knowledge that can prevent the same mistakes in the future.

  • What does Charlie suggest for someone who wants to be wealthy?

    -Charlie suggests that wanting to be a billionaire might not be the best move for most people due to the sacrifices involved. Instead, he advises focusing on achieving the top 0.1% of wealth and understanding that happiness and fulfillment come from more than just money.

  • How does Charlie define 'speed' in the context of success?

    -In the context of success, Charlie defines 'speed' as the rapid pace at which one takes action and makes decisions. He believes that successful people move quickly and are efficient in their actions, which leads to exponential growth in their personal and professional lives.

  • What is Charlie's advice on setting goals?

    -Charlie advises against setting monetary goals alone. Instead, he recommends setting real, actionable goals that are based on the specific actions one can take daily to work towards those monetary targets.

  • Why is delegating money important according to Charlie?

    -Charlie believes that delegating money is important because money can work for you, making more money. He suggests investing in oneself, education, hiring team members, and running a business to achieve higher returns than traditional investments like index funds.

  • What role does learning play in Charlie's journey to success?

    -Learning plays a crucial role in Charlie's journey to success. He emphasizes the importance of continuous learning through various mediums like books, podcasts, and online content, stating that learning is a free and accessible way to grow and improve one's life.

  • How does Charlie address the issue of 'haters'?

    -Charlie addresses the issue of 'haters' by advising not to be affected by negative comments or judgments. He suggests understanding that hate often stems from other people's insecurities and that one should focus on self-improvement rather than engaging in hate.

  • What impact did changing Charlie's environment have on his life?

    -Changing his environment from Los Angeles to Orange County had a profound impact on Charlie's life. It allowed him to be around like-minded entrepreneurial individuals, which inspired and motivated him to pursue his business ventures more aggressively.

  • Why is efficiency important in personal and professional life according to Charlie?

    -According to Charlie, efficiency is important because it allows individuals to make better use of their time, which is a limited resource. By being efficient, one can focus on activities that contribute to personal growth and business success, rather than spending time on less productive tasks.

  • How does Charlie approach marketing for his businesses?

    -Charlie approaches marketing by prioritizing the creation of educational content related to staffing and business ownership. He believes in the power of storytelling over statistics and allocates a significant portion of his resources to marketing efforts to attract leads.

  • What is Charlie's perspective on taxes and wealth accumulation?

    -Charlie views taxes as a significant expense that can hinder wealth accumulation. He believes in the importance of learning and implementing tax strategies to legally reduce one's tax bill, thus keeping more of the money earned.

  • Why does Charlie encourage going against traditional paths?

    -Charlie encourages going against traditional paths because he believes that societal norms and expectations may not align with an individual's desires and goals. He advocates for pursuing one's own path to achieve personal fulfillment and happiness.

  • What is the main message Charlie wants to convey through his content?

    -The main message Charlie wants to convey is the importance of taking action, embracing a growth mindset, and doing things that make one happy. He aims to inspire his audience to live life without regrets by implementing the lessons and strategies he shares.

Outlines

00:00

πŸš€ Entrepreneurial Journey and the Pursuit of Wealth

Charlie, a 32-year-old entrepreneur from Southern California, introduces himself as a self-made millionaire by his late 20s. He aims to share valuable life lessons to help viewers achieve wealth and happiness. Emphasizing the importance of defining personal success, he encourages viewers to consider what true freedom means to them, highlighting the pitfalls of focusing solely on financial success.

05:01

πŸ›‘ Embracing Risk for a Fulfilling Life

In this section, Charlie discusses the importance of taking risks to achieve a fulfilling life. He explains that risk involves uncertainty with potential for both success and failure, and he encourages viewers to see the positive in both outcomes. Charlie introduces the concept of asymmetric risk, where informed decisions can tip the odds in one's favor, and stresses the value of learning from failures as a path to success.

10:02

πŸ’‘ The Power of Speed in Achieving Goals

Charlie emphasizes the significance of speed in accomplishing goals. He shares that successful individuals he has met are characterized by their swift actions, from making immediate introductions to responding quickly to communications. He contrasts this with the common issue of procrastination and encourages viewers to act with urgency to achieve exponential growth in their personal and professional lives.

15:03

🎯 Setting Effective Goals for Success

The speaker discusses the common mistake of setting monetary goals without considering the actions needed to achieve them. He suggests that goals should be based on tangible actions that can be measured and managed on a daily basis. Charlie provides examples of how to set actionable goals in different fields and stresses the importance of focusing on the steps that lead to the desired outcomes rather than just the financial results.

20:03

πŸ’° Delegating Money for Growth and Investment

Charlie talks about the importance of putting money to work through delegation and strategic investment. He advises against leaving money idle in traditional accounts and instead suggests investing in ventures that can generate more resources. The speaker shares his personal approach to money delegation, which includes standard investments, crypto, and primarily reinvesting in his business for higher returns.

25:05

πŸ“š Commitment to Continuous Learning

The speaker stresses the importance of continuous learning as a critical action for self-improvement. He encourages daily learning through various mediums and emphasizes the need to go beyond just receiving information to truly understanding and incorporating it into one's life. Charlie shares his personal learning habits, such as writing down insights from podcasts and books, and the profound impact that books have had on his entrepreneurial journey.

30:06

πŸ‘Ž Dealing with Hate and Negativity

Charlie addresses the issue of hate and negativity, particularly online, and advises viewers not to be deterred by others' judgments or comments. He explains that haters often project their own insecurities and that their negativity is not always personal. The speaker encourages developing the ability to ignore hate and to focus on self-improvement rather than engaging in negative behavior.

35:08

🌳 The Impact of Environment on Personal Growth

In this section, Charlie discusses how his environment influenced his entrepreneurial journey, both positively and negatively. He shares his experience moving from Los Angeles to Orange County and how being around like-minded entrepreneurs helped him thrive. The speaker encourages seeking out environments and people that inspire and align with one's goals, as they can significantly impact personal and professional growth.

40:09

πŸ“± Avoiding the Trap of Social Media and Promoting Active Learning

Charlie talks about the potential pitfalls of social media and the importance of using it as a tool for learning rather than mindless entertainment. He shares his approach to curating content that contributes to his personal development and encourages others to do the same. The speaker also emphasizes the value of efficiency in daily life and work, suggesting the use of tools and services to save time for more productive activities.

45:09

πŸ›  The Importance of Efficiency and Leverage in Business

The speaker discusses the concept of efficiency and leverage as key to maximizing output while minimizing input. He shares examples from his own businesses, where the use of AI tools and an international workforce has significantly increased productivity. Charlie encourages viewers to seek out tools and strategies that can streamline their work and improve their efficiency in all aspects of life.

πŸ“ˆ Prioritizing Marketing for Business Success

Charlie highlights the critical role of marketing in business success, sharing his experience with a failed clothing brand due to lack of marketing efforts. He emphasizes the importance of allocating resources to marketing and testing different strategies to attract more customers. The speaker also stresses the power of storytelling in marketing and encourages business owners to prioritize this aspect to ensure profitability.

πŸ’Ό Understanding Tax Strategy for Wealth Preservation

In this section, Charlie discusses the importance of tax strategy for wealth accumulation, especially for those with significant income. He encourages learning about legal ways to reduce tax liabilities and the benefits of investing in real estate for tax advantages. The speaker shares his own focus on tax efficiency as a key component of financial planning and wealth building.

🚧 The Path Less Traveled: Embracing Non-Traditional Life Choices

The speaker shares his personal journey of rejecting traditional expectations and pursuing a non-traditional path in life. He encourages viewers to question societal norms and toε‹‡δΊŽθΏ½ζ±‚θ‡ͺε·±ζƒ³θ¦ηš„η”Ÿζ΄»γ€‚Charlie reflects on his own decisions and the impact they've had on his happiness and success, urging others to consider what truly makes them fulfilled and to pursue that path with passion.

🌟 Inspiring Action Through Life Lessons

In the concluding paragraph, Charlie summarizes his message, encouraging viewers to apply the lessons shared to live a life filled with happiness, growth, and fulfillment. He acknowledges his own ongoing learning journey and invites viewers to share their own life lessons in the comments. The speaker expresses gratitude for the viewers' time and interest in his content, hoping to inspire them to take action towards achieving their goals.

Mindmap

Keywords

πŸ’‘Entrepreneur

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. In the video, the speaker, Charlie, identifies himself as an entrepreneur and discusses his journey to becoming a millionaire, emphasizing the importance of risk-taking and learning in entrepreneurship.

πŸ’‘Freedom

Freedom, in the context of the video, refers to having autonomy over one's life and time, and the ability to pursue activities that bring joy without the constraints of a traditional job. Charlie talks about his definition of freedom and how it differs from the traditional 9-to-5 lifestyle.

πŸ’‘Wealth

Wealth in the video is not just about accumulating money but also about the quality of life and happiness. Charlie shares his insights on achieving wealth beyond just financial success, including the importance of personal fulfillment and well-being.

πŸ’‘Risk

Risk is a central theme in the video, where Charlie discusses the necessity of embracing risk to achieve significant life outcomes. He differentiates between blind risk and calculated risk, advocating for the latter as a means to create opportunities for success.

πŸ’‘Asymmetric Risk

Asymmetric risk is a concept where the potential upside outweighs the potential downside. Charlie explains that by making informed decisions, one can create situations where the risks are skewed in favor of success, which is crucial for achieving extraordinary life outcomes.

πŸ’‘Fulfillment

Fulfillment in the video is described as the state of being satisfied and happy with one's life, often derived from doing what one loves. Charlie emphasizes that fulfillment comes from daily activities that bring joy and should not be solely tied to financial success.

πŸ’‘Procrastination

Procrastination is portrayed as a barrier to success in the video. Charlie argues that successful people are characterized by their ability to act quickly and avoid delaying tasks, which is essential for achieving goals efficiently.

πŸ’‘Delegating

Delegating, in the context of the video, refers to the act of entrusting tasks to others, which is a key skill for scaling a business or achieving personal goals. Charlie talks about the importance of delegating tasks to focus on high-impact activities.

πŸ’‘Learning

Learning is highlighted as a continuous and essential process for personal growth and success. Charlie stresses the importance of daily learning through various mediums like books, podcasts, and conversations to acquire new knowledge and skills.

πŸ’‘Haters

Haters, as mentioned in the video, are individuals who express negativity or criticism, often stemming from their own insecurities. Charlie advises the audience to ignore haters and not let their judgments affect one's pursuit of success.

πŸ’‘Environment

Environment, in the video, refers to the external surroundings and the people that influence one's mindset and actions. Charlie shares his personal experience of how moving to a new environment positively impacted his entrepreneurial journey by providing a supportive network.

πŸ’‘Efficiency

Efficiency is the ability to perform without wasting resources, particularly time and effort. Charlie discusses the importance of being efficient in all aspects of life, from work to daily chores, to maximize productivity and achieve more with less.

πŸ’‘Marketing

Marketing is the process of promoting and selling products or services, which Charlie identifies as a critical component for business success. He shares his own experiences with marketing failures and successes, emphasizing the need for a strong marketing strategy.

πŸ’‘Taxes

Taxes, as discussed in the video, are a significant financial consideration for individuals and businesses. Charlie talks about the importance of understanding and strategically managing taxes to retain more of one's earnings and accelerate wealth accumulation.

πŸ’‘Non-traditional

Non-traditional refers to approaches or paths that deviate from what is commonly expected or accepted by society. Charlie encourages viewers to pursue their own unique paths and not be limited by traditional societal expectations.

Highlights

Charlie, a 32-year-old entrepreneur, shares life lessons on wealth, happiness, and success.

Early success as a millionaire by 27/28, emphasizing the importance of learning and growth.

The value of defining personal freedom and success, unique to each individual.

The misconception that money equates to happiness and fulfillment.

The importance of embracing risk and the concept of asymmetric risk for success.

Charlie's perspective on why aiming to be a billionaire may not equate to happiness.

The necessity of taking risks early in life for greater opportunities.

The role of failure as a teacher and a stepping stone to success.

The significance of speed in achieving goals and the dangers of procrastination.

Setting real, actionable goals instead of just monetary targets.

The power of delegating money wisely to generate more wealth.

The importance of continuous learning and the impact of books on personal development.

Charlie's approach to dealing with haters and the negative influence of social media.

The impact of environment on personal growth and the benefits of surrounding oneself with like-minded individuals.

The necessity to stop aimless scrolling on social media and focus on educational content.

Striving for efficiency in all aspects of life to maximize productivity and success.

The critical role of marketing in business success and the importance of strategic content creation.

Understanding tax strategies as a key component of wealth accumulation.

Charlie's personal journey from a traditional path to an entrepreneurial one and the passion behind his content creation.

The call to action for viewers to implement the discussed lessons and share their own life lessons in the comments.

Transcripts

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so chances are if you clicked on this

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video you are looking for advice you

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want to get better you want to grow and

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in the next half or so many minutes I'm

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basically going to teach you guys as

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much as I can a little bit about me my

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name is Charlie and I am a 32-year-old

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entrepreneur living in Southern

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California turned 32 just a few weeks

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ago and yeah I became a millionaire by

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the age of I think 27 28 it's been about

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4 years since then and I've just yeah

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learned a lot of things so this videoos

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can be completely unscripted I just have

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a bunch of bullet points I want to talk

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about on this notebook hopefully there's

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not going to be too many cuts and yeah

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I'm just basically going to share with

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you guys a ton of lessons that will help

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you be more Rich more wealthy and more

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happy and who does this apply to I'd say

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anyone in their teens in their 20s 30s

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even 40s or 50s right I really do

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believe that we can learn from anyone

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doesn't matter where you are in life

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everyone has wisdom and I'm basically

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going to share whatever wisdom I have

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with you today I don't do paid

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Consulting anymore but if I did this is

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basically what I would teach you guys so

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it's going to be completely free it's

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everything that I've spent you know so

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many years learning read so many books

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podcasts you know done a good amount of

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things in my life so far hopefully this

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video can inspire you because what they

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say is true nothing happens without

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first being inspired so hopefully this

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can be one of the things that inspires

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you okay the first thing I want to talk

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about is I want to ask you a question

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what is your your version of Freedom

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what do you consider a successful and

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you know ultimately fulfilled life

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because this is going to be different

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for everyone let me get out my iPad

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right here and I want to draw something

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just to you know sort of illustrate it

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but yeah this is you right you are on

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this world that's my drawing of a world

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and this is a really important question

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I think you know a lot of people they

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think about it but they don't actually

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think about it it's definitely something

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that you should sit down for at least 10

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20 minutes minutes and write down your

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thoughts yeah everyone's definition of

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success fulfillment you know a

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successful life is going to be different

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so I want you guys to think what that

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definition is for you and I'll tell you

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guys what that is for me for me I want

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to enjoy life doing a bunch of things

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that I enjoy doing while making good

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money and having complete Freedom so

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yeah there's definitely a few components

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but know the financial success that it

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definitely is important that's one of

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the most easy things that we can use to

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sort of you know rank how we are doing

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in life while that is good it can also

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be bad because a lot of people they only

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rank their life based on how much money

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they make that is a huge huge L and if

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you fall into that category I highly

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encourage you to uh sort of get out of

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it right I start off my entrepreneurial

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Journey you know really thinking that

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money was going to make everything

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better certainly it does up to a point

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but after that it doesn't really matter

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that much you're going to buy the nice

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things you're going to get the nice

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Apartments you're going to be able to

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enjoy uh nicer vacations and eat out and

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that all is great but it's not going to

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bring you the ultimate joy and

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fulfillment in your life you will find

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that out once you get to that stage of

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your life so in terms of money right I

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think a lot of people they want to be

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billionaires I think that is actually

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the wrong move you probably do not want

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to be a billionaire for me I definitely

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do not I have seen billionaires and

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while they do have you know pretty

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extraordinary lives most of them they

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aren't that happy what I will say is if

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you get to that top

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.1% or whatever it is of wealth there

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have to be sacrifices along the way

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there's no way you can do this without

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having a ton of sacrifices that

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ultimately I think most people don't

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want to have in their lives yes maybe

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some select few people are going to be

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happy becoming billionaires but for most

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of you I don't think that is going to

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make you have a good life besides the

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money aspects of life there are so many

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other things that you need to be looking

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at so fulfillment is basically going to

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be what things are you doing on a

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day-to-day basis that actually bring you

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Joy now for me working for someone was

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pretty much always out of the question I

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always knew that I didn't want to have a

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boss I didn't want to have a set

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schedule that I followed every single

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day because for me that was sort of

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mundane I wanted to be able to go out

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have lunch whenever I wanted to hit the

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gym at 2:00 p.m. at 7:00 a.m. at 5:00

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p.m. 10: p.m. whatever time it is I

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don't want to have things on my calendar

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right I don't want to have scheduled

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meetings I want to just be fully in

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control of my time and if there is

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something on my calendar it better be

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something that I get some fulfillment

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doing so yeah I don't want to spend too

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much more time on this topic but think

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about what your definition of freedom is

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write it down and that should give you

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some more clarity on what you actually

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want in life so you can actually reach

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those goals okay the next thing I want

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to talk about is going to be risk you

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need to want risk because risk is in my

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opinion the greatest Concept in life

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it's something that you know a lot of

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people are scared about but without risk

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there's never good things and I'll

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basically talk about why I think this is

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the case basically in my life every good

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thing that's happened to me has been

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because I took some type of risk a risk

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basically means that there is a good

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outcome and there is a failed outcome

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and a lot of people they immediately

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think failure and they think bad and

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they sign all these horrible names or

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labels uh to the bad bad side of risk

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right what I want you guys to realize is

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that both of these can be good bad can

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be good and good can be good too what's

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important though is that there is this

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sort of fork in the road of uncertainty

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and a lot of people they also hear

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uncertainty and that scares the crap out

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of them for some reason I've always been

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okay with uncertainty because I think

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I've really taken on this definition

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that risk is what has created everything

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that's good in my life it's what has

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created everything good in most people's

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lives and without risk without you know

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fully taking risk on on you will likely

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live a pretty just normal average life

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if you're watching this video I don't

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think that's what you want I think you

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want to live an exceptional life if you

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want to make a ton of money you will I

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guarantee you 100% always need to take

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risk if you want to make good

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Investments with your money always going

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to take risk if you want to build the

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dream business of your life it's going

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to require risk if you want to meet your

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dream partner it's going to take you

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going out there risking things being

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vulnerable to find that partner but the

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great thing about risk is that there's

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something called asymmetric risk the

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great thing about the human brain is

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that we can calculate things and we can

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make informed decisions that actually

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result in asymmetric risk right so

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basically what I'm trying to say here is

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yes you can take risks if you take blind

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risks then let's say there is a 50%

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chance of the bad which is still fine

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and a 50% chance of good that's a pretty

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optimistic view of the ratios it might

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actually be like you know 80% bad and

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20% good whatever it is but if you

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introduce calculated risk if you

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introduce knowledge if you introduce

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being prepared then it's really going to

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skew our chances in favor of us we'll

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talk more about knowledge all that stuff

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all these things that you can do to

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prepare to take on risk later on this

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video but essentially we are in control

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of tipping the Seesaw the more of these

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great things we introduce like knowledge

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and whatever into our lives the more

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likely we are to take on risks that

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actually are not risks we are more

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likely to win right and so please guys

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look this up embrace it write on your

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phone write on your wall whatever it is

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and always look at this word because the

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most wealthy the happiest people the

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people with the best experiences in life

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they are basically practicing what's

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called asymmetric risk and I know a lot

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of people are in situations where it

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might not be possible to take as much

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risk I can fully understand that but if

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you do not have the money to bet you can

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also bet with your time with your

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efforts and if you don't have that then

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yeah it is definitely harder but if you

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need it to happen in your life you can

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make it happen this is also why it's so

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important to start as early as you can

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the most important risks you take in

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life are going to be when you are in

play08:13

your teens or your 20s after that that's

play08:15

when you likely will start you know

play08:17

building a family you have a kid you'll

play08:20

have bigger bills and things to worry

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about and it's going to make taking

play08:24

risks quite a bit more challenging so

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the earlier you can do it the better and

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while we're talking about risk I want to

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talk about you know failure right like I

play08:31

said earlier there's bad and there's

play08:33

good the bad's actually good because you

play08:35

are learning you're gaining experiences

play08:37

you're getting knowledge and you likely

play08:38

won't make those mistakes in the future

play08:40

failure plays along with this because

play08:42

you need to embrace failure you need to

play08:45

sort of Chase failure because I truly

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believe that anyone that has done great

play08:49

in their lives has gone through a ton of

play08:51

failure for me I've built so many

play08:53

businesses I've tried so many different

play08:55

things tried to learn so many different

play08:57

skills and I have technically failed at

play08:59

a lot of them but those failures have

play09:02

gotten me to where I am today those

play09:03

failures have allowed me to take on this

play09:06

asymmetrical risk and basically be a lot

play09:07

more calculated with the types of risks

play09:10

and things I choose to do and that's

play09:11

helped me a lot so I'm going to write

play09:13

this failure is amazing it's needed so

play09:16

if you haven't failed that much yet

play09:17

you're not doing enough things you're

play09:19

not putting yourself in enough

play09:21

situations where you can fail so I'd say

play09:23

try more things be okay with this and I

play09:25

guarantee you your life is going to

play09:27

really get so much better personally for

play09:29

me when I started making YouTube videos

play09:31

I was not good on camera I can say this

play09:34

extremely directly I I think I privated

play09:37

most of the videos I did but I'm not a

play09:40

natural public speaker I'm not a natural

play09:43

on camera speaker like this doing even

play09:45

this video right I'm pretty scared

play09:46

because it's very raw video it's just me

play09:48

talking to the camera no big edits I

play09:51

could fail and I'm okay with that

play09:54

because I know that I tried I know that

play09:56

I learned the process I know that some

play09:58

of these things I tried that could fail

play10:00

could do really really well the next

play10:02

thing I want to talk about is the fact

play10:03

that you need speed you need to be as

play10:06

fast as you can I think a lot of people

play10:09

they they procrastinate right I think

play10:11

procrastination has you know become this

play10:13

word that you can easily just say to

play10:17

give yourself an excuse right oh I

play10:18

procrastinated on this assignment I

play10:20

procrastinated on starting that business

play10:22

that I want to do I procrastinated on

play10:25

learning piano whatever it is what I

play10:26

will say is that the most successful

play10:28

people that I've met met personally in

play10:30

my life all take on speed as one of

play10:32

their most important attributes what I

play10:35

mean by this is they just move at

play10:37

lightning fast speed for example you are

play10:40

you know networking with some people and

play10:42

you're like oh I know this person that

play10:44

you should meet they have this type of

play10:46

business that could you know relate to

play10:49

yours you guys can talk maybe work out

play10:51

deal together whatever it is the people

play10:52

that are really successful they will

play10:54

take out their phones they will make

play10:56

that introduction literally on the spot

play10:58

Within seconds so they'll send a group a

play11:01

text with both people in it introduce

play11:03

them and that literally happens on the

play11:06

spot right so that's just a very clear

play11:08

but you know small example of what speed

play11:11

actually looks like in real life they're

play11:12

also extremely fast at responding to

play11:15

texts at emails this is definitely

play11:16

something that I need to get better at

play11:18

and if you think about it it makes sense

play11:20

why speed is such an important thing can

play11:23

you imagine how much more stuff you can

play11:26

do in life that can help you get to your

play11:28

goals faster if you actually do things

play11:31

at the speed of light like if you could

play11:32

do 2,000 things today that ultimately

play11:35

get you to your goals think about how

play11:37

fast that is going to take you obviously

play11:39

2,000 things in one day is not possible

play11:41

but you sort of get the point right if

play11:42

you can do let's say five things or 10

play11:45

things versus what most people might do

play11:47

which is let's say two or three things

play11:49

then the speed basically compounds on

play11:51

each other it results in exponential

play11:53

growth for you and your life and so I

play11:55

want you to sort of look at the speed in

play11:57

which you do things is it fast is it

play11:58

slow always make it faster if you can I

play12:01

remember when I was a real estate agent

play12:03

back in the day one day I remember

play12:04

thinking hey I want to be my own broker

play12:06

I want to open up my own real estate

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brokerage have agents under me and sort

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of sell homes that way and literally

play12:13

within one day I had signed up for my

play12:15

broker's education and I had already

play12:17

committed to you know starting up my

play12:19

Brokers I probably bought the domain all

play12:21

these different things once I started to

play12:23

see the speed in which I moved that's

play12:25

when I was pretty confident in myself

play12:26

and I basically knew that whatever I

play12:28

want to do in life I could do it because

play12:30

of that speed okay next thing I want to

play12:32

talk about is setting real goals most

play12:35

people they just set money goals they

play12:36

say I want to make $10,000 per month I

play12:38

want to make $50,000 per month whatever

play12:40

that number is let's say I want to start

play12:42

with say $10,000 per month in Revenue

play12:45

right this is our goal now this type of

play12:47

goal doesn't actually really work

play12:50

because the only thing you're measuring

play12:52

is the money coming in and money coming

play12:54

in depends on so many other different

play12:56

factors those are the factors that we

play12:58

want to focus on so when I say I want to

play13:00

make $10,000 per month I need to think

play13:02

about what actions and things I need to

play13:03

do to make those $10,000 per month and

play13:06

these are things I can actually measure

play13:08

and hold myself accountable on so let's

play13:10

say you're in social media right let's

play13:11

say you want to make 20 videos per month

play13:15

this is something an action that you can

play13:17

actually do if you do 20 videos per

play13:19

month that is directly going to

play13:21

correlate with you potentially making

play13:23

more money let's say you're in

play13:24

Consulting and you want to work with

play13:27

let's say three different clients you

play13:29

want to onboard three clients in one

play13:31

month and that gets you to that $10,000

play13:33

per month goal this is something that

play13:35

you are in control of this is something

play13:36

that you can actually measure on a

play13:38

day-to-day basis and so these are just

play13:40

two different little examples of what I

play13:42

mean by this but yeah the whole point of

play13:44

this is the types of goals that you set

play13:46

should not just be monetary goals they

play13:49

should be broken down into the actual

play13:51

actions you can do on a day-to-day basis

play13:53

that will get you to those goals and

play13:54

this applies to everything in life I

play13:56

just want to do this example with money

play13:58

because the seem to be the most common

play14:00

goal that people have I just encourage

play14:01

you guys to break it down and actually

play14:04

focus on the actions that will get you

play14:06

there okay the next thing I want to talk

play14:07

about is delegating your money once you

play14:09

start making some money it's going to be

play14:11

extremely important that you put that

play14:13

money to use and if you're not at this

play14:16

level yet where you have a ton of

play14:18

disposable income that's totally okay I

play14:20

still want you guys to know this concept

play14:22

because it's very important now let's

play14:24

think about what money is actually good

play14:26

for money can help us buy necessities it

play14:29

can uh house us it can buy us food it

play14:31

can buy us clothes it can buy us

play14:33

experiences all that stuff but one thing

play14:34

that a lot of people don't realize is

play14:36

that money is really good at making more

play14:39

money if you have spare money and you

play14:41

delegate correctly and strategically

play14:44

with asymmetric risk that is going to

play14:46

make you way more money than probably

play14:49

your job or your business or whatever it

play14:51

is and so the reason why this is so

play14:52

important is because you want to

play14:55

understand money you want to understand

play14:56

personal finance you want to understand

play14:59

of course like I said earlier asymmetric

play15:01

risk with your money and you need to

play15:02

just take that action and put your money

play15:05

to use it should not sit in your

play15:07

checkings account it should not sit in

play15:08

your savings account it should be out

play15:10

there doing actual work because work is

play15:13

basically like having an employee it's

play15:15

like having a resource that can

play15:17

self-generate into more resources and so

play15:19

learn the importance of investing your

play15:21

money into things like stocks if you

play15:23

don't have that much money to start with

play15:24

i' actually say that investing in stock

play15:26

and things like that it's not that

play15:28

important yes you do want to get started

play15:30

invest a little bit of money just to get

play15:32

the ball rolling and to get in the habit

play15:34

of allocating money aside into index

play15:37

funds and things like that but the

play15:38

majority of your money should not be put

play15:40

into those types of things because if

play15:42

you don't have that much money that's

play15:43

not going to grow that much it's not

play15:44

going to create lifechanging wealth it's

play15:46

not going to create Freedom instead you

play15:47

want to delegate money into yourself

play15:50

into your self-education into hiring

play15:52

team members into running your own

play15:53

business things like that things where

play15:55

you are way more in control because I

play15:58

guarantee you let's say you get 10% per

play16:00

year in the S&P 500 right that's great

play16:02

that's something that everyone should be

play16:04

invested into that's something that I'm

play16:05

definitely invested into but I will say

play16:08

if you do delegating money correctly and

play16:10

you put into things like yourself your

play16:11

business whatever it is that 10% is

play16:14

going to look like pennies you should

play16:16

easily be able to get 30% 50% 2,000%

play16:20

these astronomical returns when you

play16:23

delegate money in those more risky ways

play16:25

right so we're we're talking about risk

play16:27

again but like I said on the other side

play16:29

of risk is always these astronomical

play16:31

gains these great things that you

play16:34

probably want if you're watching this

play16:35

video if you take the safe road invest

play16:37

in index funds it is great right you

play16:39

will get rich doing that but you're not

play16:41

going to get Ultra Rich you're not going

play16:43

to build your dream business you'll have

play16:44

an above average life I will say that

play16:46

because most people they don't invest in

play16:48

the S&P 500 but all the millionaires all

play16:50

the multi-millionaires they get really

play16:52

good at delegating their money into

play16:54

other things so I really want you to

play16:56

spend some resources and time figuring

play16:58

out how you want to delegate your money

play17:00

learn personal finance learn investing

play17:02

and start taking more asymmetrical risk

play17:04

with your money and by the way gambling

play17:06

is not an asymmetrical risk because the

play17:08

house always has an advantage and

play17:10

there's basically no way to tip that in

play17:12

your favor you might be wondering what

play17:14

does Charlie do with his money how does

play17:16

he delegate his money personally I will

play17:17

say that a chunk of it goes into very

play17:20

standard Investments chunk of it goes

play17:22

into crypto these are things that I

play17:24

believe in but the majority of it

play17:25

actually goes into running the business

play17:27

hiring team members buying software

play17:30

developing tools all these things that

play17:32

help me make more money in my business

play17:34

all right the next thing I want to talk

play17:35

about is learning this is so so

play17:40

important yeah everything we're talking

play17:41

about today is very important but

play17:43

learning is something that everyone can

play17:45

do it's something that doesn't take that

play17:47

much risk it's something that you can do

play17:49

for free with the internet these days

play17:51

and so the point of this little section

play17:53

is to say that learning is perhaps one

play17:55

of the greatest actions you can do to

play17:58

propel follow yourself to the life that

play17:59

you want I want you to be learning every

play18:02

single day I really mean it every single

play18:04

moment you are awake you can be learning

play18:07

and of course you don't need to learn

play18:08

24/7 but think about how many hours you

play18:11

have in a day think about how much you

play18:12

can learn in the span of let's just say

play18:15

5 minutes right if you have a

play18:16

conversation with someone you can

play18:17

absolutely learn so much in 5 minutes

play18:20

and if we multiply this if we scale this

play18:22

then the amount of new knowledge that

play18:23

you can introduce into your brain every

play18:25

single day is just insane and I want to

play18:28

uh write this a little proverb that I

play18:30

like it's by confucious I don't even

play18:32

know how to write confuscious okay so

play18:34

here it is I hear I forget I see I

play18:37

remember I do I understand learning is

play18:41

not just taking on new information right

play18:44

learning is way more complex than that

play18:46

and there are multiple layers that you

play18:48

really need to get through in order to

play18:49

fully learn so by watching this video

play18:52

you guys are hearing the words that I

play18:54

speak and hearing it is good it can sort

play18:56

of change your mindset a bit but it's

play18:59

probably not going to change your

play19:00

actions that much I guess you're also

play19:02

technically sort of seeing me talk to

play19:04

you so that definitely does help a

play19:06

little bit and sort of takes you into

play19:07

that second layer of learning but until

play19:09

you actually do something then your

play19:12

understanding of what I'm saying it's

play19:14

not going to be that in-depth it's not

play19:16

going to really hit and with learning

play19:19

the whole concept is you want to do

play19:21

things until they hit you want to hear

play19:23

enough times you want to see enough

play19:25

times and you actually want to do it

play19:26

enough times so that it sticks into your

play19:28

head and you actually incorporate it

play19:30

into your daily life whenever I am

play19:32

actively learning I am always going to

play19:35

try to write things down because that is

play19:37

some type of action and it makes it so

play19:39

that I can sort of review what I'm

play19:41

learning about later on and that

play19:42

definitely does help right that's why I

play19:44

say whenever you're learning write it

play19:45

down have some type of notebook like

play19:48

this where you write things down maybe

play19:49

even have the notes app on your phone

play19:52

write things down and the daily practice

play19:53

I do for this is when I listen to

play19:55

podcasts when I watch certain videos

play19:57

online and I'm trying to learn I'll

play19:59

actually write these things down in my

play20:01

phone I basically have a note in my

play20:03

iPhone that contains pages and pages of

play20:06

little things and tidbits I get from

play20:08

listening to these podcasts so whenever

play20:10

I hear something that really resonates

play20:11

with me that I think oh this is good I

play20:14

will type it into my phone and then

play20:15

every single week I'm going to go

play20:17

through that list actually reread it and

play20:19

analyze whether or not those things are

play20:20

actually taking place in my life right

play20:22

now with the internet there are so many

play20:24

ways you can learn it's just really

play20:26

incredible because these types of

play20:28

conversations all this information used

play20:30

to not be that accessible right but now

play20:32

it is literally anyone with a computer

play20:34

or a phone whatever it is with an

play20:36

internet connection can go online and

play20:38

have access to pretty much the same

play20:40

information as anyone else in the world

play20:43

can you imagine being able to sit down

play20:45

with for example the CEO of Nvidia and

play20:48

listen in on him having a conversation

play20:50

with someone else about everything

play20:52

that's going on well that is completely

play20:53

possible now and the amount of

play20:55

information that I've learned from

play20:57

podcasts and these convers Sation on

play20:59

YouTube it's just incredible if you're

play21:01

not taking advantage of this I think it

play21:03

puts you at a huge disadvantage because

play21:05

the people that are looking to get

play21:06

really ahead in life the people that are

play21:08

looking to constantly learn they are

play21:10

actually watching this type of

play21:12

information on a day-to-day basis and

play21:14

let's also talk about books because I

play21:15

think that is something that really

play21:17

catapulted my entrepreneurial Journey

play21:19

some of the first few books I read had

play21:21

such a massive impact on my life you

play21:23

might be thinking Charlie yeah a book

play21:25

can be good but can it actually change

play21:27

your life and I will say this yes it can

play21:31

absolutely change your life if you get

play21:32

inspired Enough by a book it will

play21:34

absolutely turn into actions and an

play21:37

example of this was the miracle morning

play21:40

it's one of the first self-help books

play21:42

that I read back in maybe

play21:45

2018 2019 when I read that book I was

play21:49

like I need to start waking up early I

play21:51

need to switch up my whole schedule and

play21:53

I need to do this morning routine that

play21:55

gave me so much momentum that helped me

play21:57

you know read more helped me to take on

play21:59

this different mindset in life and I

play22:02

will say that completely changed my life

play22:04

another book was who not how right this

play22:06

book is about hiring and delegating

play22:08

something that I personally am not the

play22:10

most strong at and so when I read that

play22:12

book it really clicked that if I wanted

play22:15

to build a real business I would have to

play22:17

have other people help me I could not do

play22:19

it myself alone because I think a lot of

play22:22

people they want to do everything

play22:23

themselves which can be good at the

play22:24

start but if you want to get really good

play22:27

you need to hire you need to delegate

play22:29

you need to manage people and so these

play22:31

are two examples of books that had real

play22:34

life consequences I guess not

play22:35

consequences but positives on my life

play22:38

and they just change the trajectory of

play22:40

how I go about everything so please if

play22:42

you have spare time which I guarantee

play22:44

you do spend it learning at the gym

play22:46

listen to podcast instead of music when

play22:48

you wake up maybe read 10 to 20 minutes

play22:51

something that's very doable and

play22:52

something that allows you to be

play22:53

consistent if you're out on a long drive

play22:55

instead of just blasting music and you

play22:57

know not really doing anything put on a

play22:59

great podcast or an Audi book there's

play23:01

actually so much downtime we have in

play23:03

life that we can spend learning and if

play23:05

you do that yeah I don't know what else

play23:07

to say your life will just get a lot

play23:09

better you're going to grow faster and

play23:11

you're going to be better prepared for

play23:12

finding opportunities when you see them

play23:14

and you're going to be better at you

play23:16

know latching on to Opportunities when

play23:18

they float by we'll talk more about that

play23:20

later on this video okay right let's

play23:21

talk about haters you might be wondering

play23:23

what does Charlie actually mean by that

play23:25

there are too many haters in this world

play23:27

that just go on online and they say

play23:30

things to make themselves Feller they

play23:32

are basically projecting their own

play23:34

insecurities I know you guys have heard

play23:35

this and it's not always always true but

play23:38

I think there are just too many people

play23:40

out there that get fulfillment from

play23:42

saying negative things one thing I'll

play23:44

say is you will never find a single

play23:47

hateful or negative comment from me on

play23:49

social media I refuse to do it I will

play23:51

never do it and if you see something

play23:53

from me that is hateful or whatever it's

play23:55

because I've been hacked so it wasn't

play23:57

actually me hating also Al relates to

play23:59

fear because I think a lot of people

play24:01

they want to do things but they are also

play24:04

afraid of how other people are going to

play24:06

perceive them they're thinking oh if I

play24:08

start making uh YouTube videos people in

play24:10

my life my friends they're going to

play24:12

judge me they're going to be like hey

play24:14

why is Charlie in his bedroom making

play24:16

these dumb videos it's not going to work

play24:17

out they're afraid of that type of

play24:19

judgment they're afraid of that type of

play24:21

hating hating doesn't have to come from

play24:22

strangers by the way it can actually

play24:23

come from people that you are super

play24:26

super close with and the point of this

play24:27

whole section is is to just sort of

play24:29

emphasize that hate is always going to

play24:30

be out there you're always going to get

play24:32

judgments from people but that is normal

play24:35

and if you can't ignore that if you

play24:37

can't sweep it under the rug and if

play24:39

you're always affected by it that's

play24:40

going to severely detract from your

play24:43

potential if it makes you feel better I

play24:44

will say that people hate because it

play24:47

gives them some power the people that

play24:49

hate the most are people that aren't

play24:50

really doing things in their lives they

play24:52

are insecure about things and really the

play24:55

easiest way that they can make

play24:57

themselves have some type of power or

play25:00

you know fulfillment or whatever is by

play25:02

going online and saying mean things

play25:04

instant dope mean rush and I will say

play25:06

it's not always personal a lot of people

play25:09

they'll say something hurtful let's say

play25:10

on a comment on a YouTube video but they

play25:13

don't actually mean it to you personally

play25:15

they're only saying that for their own

play25:17

personal gain right it doesn't really

play25:19

have anything to do with you so the

play25:20

earlier you understand that the easier

play25:22

it's going to be for you to sort of wave

play25:24

off hate online or wherever it is

play25:26

judgment and the other thing with this

play25:28

is is yourself do not want to be a hater

play25:30

because it puts you in a certain mindset

play25:32

that you can get fulfillment that you

play25:34

can feel better about yourself by just

play25:36

putting down other people once you get

play25:38

to that area it's very very dangerous

play25:41

because that is so much easier than self

play25:44

improvement working on yourself working

play25:46

on your business and actually chasing

play25:47

your own goals that's a lot harder than

play25:49

just logging on to Instagram and saying

play25:52

some mean thing they're just saying that

play25:53

want to chase uh is not the hate type of

play25:56

dopamine it's the dopamine you actually

play25:58

get from your actions in your own life

play26:00

so the next thing I want to talk about

play26:01

is your environment this is something

play26:03

that had a profound impact on my life

play26:06

for the worse and also for the better so

play26:08

basically before 2019 I was living in LA

play26:11

Los Angeles and I had basically stayed

play26:14

there after college and I had great

play26:16

friends but most of these friends were

play26:18

not entrepreneurs and I've always been

play26:20

pretty entrepreneurial I've always been

play26:22

doing my own businesses doing my own

play26:23

side hustles and so this type of

play26:25

environment was just really challenging

play26:27

for me because there was almost no one

play26:30

that I could talk to and be inspired by

play26:33

and bounce ideas off of and learn with I

play26:35

had know friends that were building

play26:36

their own businesses everyone had a

play26:38

great 9 to-5 job I guess along with that

play26:40

made me feel like am I doing good enough

play26:42

like why am I trying to hustle and do

play26:44

these things when I could just go out

play26:46

there and get a job especially with my

play26:48

you know college degree it wasn't until

play26:50

I moved to Orange County so I went from

play26:53

LA to Orange County it's only about a

play26:56

50- m drive down south but for me it was

play26:59

a completely different environment and

play27:01

this is basically where I started to

play27:03

thrive this is where I really pursued my

play27:05

real estate Journey got my mortgage

play27:06

license started doing more risky things

play27:10

a huge reason for that is because of the

play27:11

people that I met most of my friends in

play27:13

Orange County they are entrepreneurs and

play27:16

so building businesses talking about

play27:18

business talking about say marketing

play27:20

investing all these things is extremely

play27:22

common right with most of my friends

play27:23

these days in Orange County we spend a

play27:26

lot of time discussing business helping

play27:28

each other out motivating each other all

play27:30

those things that have really helped me

play27:31

and so what I will say with this is if

play27:33

you are not in the correct environment

play27:36

you are at a huge disadvantage if you

play27:38

graduate college you have a ton of

play27:40

friends that are you know doing well

play27:42

with their 9 to-5 jobs but that's not

play27:43

something you want yourself one piece of

play27:46

advice I want to give you is try and

play27:48

leave move somewhere new move to a new

play27:49

city move to a new state this is

play27:51

uncomfortable it's risky right but like

play27:54

I said earlier on the other side of risk

play27:56

is always the best things in life and so

play27:58

yeah this move changed my life it has

play28:00

helped me so much being in environment

play28:02

where I'm around like-minded people and

play28:06

if you yourself are not in that type of

play28:07

environment you need to go out there and

play28:10

Chase it you need to go out there and

play28:11

find those people if you want to become

play28:14

an entrepreneur let's say join

play28:15

entrepreneurship groups these types of

play28:17

groups are literally everywhere in

play28:19

college there's for sure an

play28:20

entrepreneurial group student group talk

play28:22

to more people ask them what they do for

play28:24

a living right this is something that I

play28:25

do a lot now these days and this quote

play28:27

has been absolutely beaten to the ground

play28:29

said probably every .5 milliseconds but

play28:32

that is you're the average of the five

play28:35

people that you spend the most time with

play28:36

I hate saying it because it's just overs

play28:38

said but it is true and I'm not saying

play28:41

only find friends that can help you in

play28:43

business I'm saying find friends that

play28:45

can make you a better person find

play28:48

friends that are on a similar Journey as

play28:50

yourself and find friends where the

play28:52

average topic of conversation isn't

play28:54

about going out drinking all that stuff

play28:57

it should be about the things that you

play28:58

want to get good at in your life so for

play29:00

example if you want to build a business

play29:02

find other people that are also building

play29:05

a business a lot of the breakthroughs

play29:06

I've had in my own entrepreneurial

play29:08

Journey have come from my friends and

play29:10

the input that I've received from them

play29:12

the next thing I want to say is you need

play29:14

to stop scrolling and start learning

play29:16

social media is something that I think

play29:18

is great but can also be extremely

play29:20

detrimental for most of the population

play29:23

most of the population is going to get

play29:25

caught in death scrolling that's what I

play29:27

call it where you just sit down scroll

play29:29

on Tik Tok Instagram reals whatever it

play29:31

is watch entertaining content that

play29:33

doesn't actually help you live a better

play29:35

life yes it is entertaining it's funny

play29:38

it can be relatable but most of this

play29:39

content doesn't really do you any good

play29:42

and you're going to completely forget

play29:44

about it within let's say 30 seconds you

play29:46

can absolutely use social media to your

play29:48

advantage and it just really comes down

play29:50

to your intent and the types of content

play29:52

that you are yourself watching I even

play29:54

still watch the entertainment stuff like

play29:56

I scroll Tik Tok sometimes I scroll

play29:59

Instagram reals it is entertaining for

play30:01

me it's a good de-stresser but the

play30:03

majority of the time I'm on social media

play30:06

it's not listening to that type of

play30:07

content it's actually looking at content

play30:09

that I learn from so I'd say that if I

play30:11

were to break down my time spent in a

play30:13

day maybe at least 30 to 60 or 90

play30:17

minutes is going to be spent on YouTube

play30:19

watching videos that I learn from

play30:21

sometimes I'll watch you know

play30:22

entertaining car videos or whatever but

play30:25

most of the videos I watch I'm actually

play30:26

learning for example I just started

play30:28

swimming and my entire homepage is now

play30:31

just Swim videos like swim lessons

play30:34

techniques and so I essentially have use

play30:36

social media to my advantage right so

play30:37

many people out there extremely talented

play30:39

creating great educational videos about

play30:41

swimming and I am here watching these

play30:43

videos for free learning how to swim for

play30:46

free this applies to any topic you want

play30:48

to learn I probably should have talked

play30:49

about this in the learning section yeah

play30:51

social media it does somewhat have a bad

play30:53

reputation sometimes and that's just

play30:55

because it's the wrong type of content

play30:57

right there's a lot of really bad

play30:59

content that actually is you know making

play31:01

you probably a worse person but if you

play31:03

go out there and selectively find the

play31:05

right types of content choose to be

play31:07

inspired and learn from that type of

play31:08

content and actively seek it out social

play31:10

media can be one of the best things in

play31:12

the world okay the next thing I want to

play31:13

talk about is efficiency strive to be as

play31:16

efficient as you possibly can be

play31:19

everyone has 24 hours in a day which

play31:21

seems like a lot but actually for most

play31:23

people they don't seem to get that much

play31:24

done in those 24 hours and one big

play31:27

reason for that is because they are just

play31:29

extremely not efficient with their time

play31:31

there are probably so many things you

play31:33

are doing in your current day-to-day

play31:35

life that are not efficient and I'm not

play31:37

trying to sit here and say you know

play31:38

everything should be tracked by the

play31:40

second you need to know everything

play31:42

you're doing minute by minute and if

play31:44

you're not making money you're doing it

play31:45

wrong right that's not what I'm saying

play31:47

but there are certain things that you

play31:49

are probably doing that could be a lot

play31:51

more efficient you could be saving more

play31:52

time and spending that energy on things

play31:54

that actually help you move forward in

play31:56

life so a very easy example of this at

play31:58

least for me is going to be cleaning my

play32:00

house and also grocery shopping if you

play32:02

think about it the average person spends

play32:04

a huge amount of mental energy on these

play32:08

things and while I think energy is not

play32:10

really capped at a point I think that

play32:12

most people if they do all these other

play32:13

things they're going to have less energy

play32:15

spent on reading on learning on building

play32:19

their business learning about investing

play32:20

investing all that stuff and so for me

play32:22

I'm going to try whatever I can do to

play32:24

remove those things so that I don't need

play32:26

to focus on them I have a house keeper

play32:28

that comes twice a week it is probably

play32:30

some of the best money that I've ever

play32:31

spent in terms of food I'll cook for fun

play32:34

sometimes but a lot of the meals I have

play32:36

they're going to be from Postmates or if

play32:38

I do get groceries I'm basically going

play32:40

to use certain apps to get those

play32:42

groceries delivered to me I really like

play32:44

using instacart for Costco deliveries I

play32:46

really like Wii that's a great app for

play32:48

buying Asian groceries and then also

play32:50

really enjoy using Walmart plus that's

play32:52

probably the most affordable way to get

play32:54

groceries delivered to you because it's

play32:56

like one flat fee of let's say $100 per

play32:58

year and you get unlimited free

play33:00

deliveries there's also tons of

play33:02

efficiency you can do with your work

play33:05

life right I used to think that working

play33:06

hard was everything but you can work

play33:08

hard on the wrong things and not get

play33:11

that far personally I choose to work

play33:13

really hard on things that are very

play33:15

efficient that are leveraged that

play33:17

multiply my time and as a result I have

play33:19

really high output compared to most

play33:22

people if you're watching this video you

play33:23

probably have learned how to use chat

play33:25

gbt and if you haven't definitely learn

play33:27

that right now because that is a prime

play33:29

example of some skill or you know

play33:31

product or platform you can use to make

play33:33

your life more efficient with AI there

play33:35

are so many tools out there so I'm going

play33:38

to get into more business stuff right

play33:40

now but if you're running a business and

play33:41

you're not using AI tools like a lot of

play33:43

them you're not doing your job as CEO

play33:45

properly you should be trying to

play33:46

identify all the things all the things

play33:48

that are happening within your business

play33:50

that could be more streamlined and more

play33:52

efficient and I guarantee you there are

play33:53

going to be so many tools out there that

play33:55

do just that right like spending let's

play33:57

say $20 per month on a software that

play34:00

saves you and your team 30 hours per

play34:03

week that is huge and if you can keep

play34:05

embracing efficiency and leverage like

play34:07

that then your business output is going

play34:09

to drastically increase while your

play34:11

business input your time input all that

play34:13

stuff is going to get a lot smaller

play34:15

right now between my businesses I have

play34:17

about 45 people and the output of my

play34:20

businesses is probably more in line with

play34:22

having a 100 person team and the reason

play34:25

for that is not because I have only the

play34:27

most amazing people that are working you

play34:30

know 30 hours per day rather is because

play34:32

they are properly using tools to make

play34:35

their work more efficient and that also

play34:37

relates to utilizing an international

play34:39

Workforce if you are not using an

play34:41

international Workforce it's the same

play34:43

thing as not using AI Tools in your

play34:45

business it's the same thing as not

play34:47

investing your money properly whatever

play34:48

it is I started my overseas staffing

play34:50

company called paired because I was

play34:52

using international workers for my own

play34:54

business and I was thinking just doesn't

play34:57

make sense for anyone to hire in the US

play35:00

for a lot of these positions when it can

play35:02

be done overseas for about 80 90% less

play35:05

with the same results right like

play35:07

Humanity it's all about optimization in

play35:09

the last 100 years everything has been

play35:11

optimized everything has become more

play35:12

efficient and I think with the workforce

play35:15

people starting to realize that it just

play35:16

doesn't make sense to only hire in the

play35:18

US yes you can have your us team I still

play35:21

have a small team in the US but if

play35:23

you're not using workers from other

play35:24

countries but if you're not embracing

play35:26

this shift of utilizing overseas workers

play35:29

you're doing your business a huge

play35:30

disservice your profit margins are

play35:32

probably a lot less than they could be

play35:34

and yeah that's just one aspect of

play35:36

efficiency and leverage that a lot of

play35:38

people aren't doing but they should be

play35:40

doing it so if there's anything I can

play35:41

say about this point it is to find

play35:43

efficiency find leverage it is so fun

play35:46

for me to find these things because it

play35:48

is by far one of the best rois of my

play35:50

time me finding one tool that helps my

play35:53

team generate more output it's one fixed

play35:55

input of time that results in basically

play35:58

infinite output and efficiency relates

play36:00

to everything right you don't need to be

play36:01

an entrepreneur for efficiency to be

play36:03

important efficiency should be strive

play36:05

for in 100% of the population everyone

play36:09

watching this video can be more

play36:11

efficient and you're probably not doing

play36:12

as much as you can to reach that

play36:14

efficiency level so I would encourage

play36:16

you guys to you know start doing this

play36:17

okay let's talk about marketing because

play36:19

marketing is one of the most important

play36:21

aspects of any business most businesses

play36:23

that fail it's not due to their product

play36:25

or service or whatever their selling

play36:27

it's due to their low marketing efforts

play36:30

for me one of the biggest losses I've

play36:32

had in business was my clothing brand it

play36:34

was called charge that I started in 2016

play36:38

and essentially I spent all of my time

play36:40

on developing the product ordering

play36:42

building the website you know making

play36:44

sure the product was great all that

play36:45

stuff I spent $0 almost on marketing and

play36:49

that was the reason why that business

play36:50

did not work out after that lesson I

play36:53

essentially told myself whatever

play36:54

business I make in the future marketing

play36:57

is going to be what I'm in charge of

play36:59

it's the most important thing that is

play37:00

going to allow that business to be

play37:02

successful marketing results in having

play37:04

more eyeballs and more eyeballs gives

play37:07

you more potential to make more sales or

play37:09

whatever it is and the easiest way for

play37:11

most people to really Crush their

play37:14

marketing is just by doing social media

play37:16

right yes you can do paid ads yes you

play37:18

can do let's say radio ads you can do

play37:20

prints you can do Billboards stuff like

play37:22

that but for most companies I see them

play37:25

severely underutilizing social media the

play37:27

the cool thing about marketing is that

play37:28

it's fun and the reason it's fun is

play37:30

because you're always testing different

play37:32

marketing strategies to see which ones

play37:34

work the best for example for our

play37:37

staffing agency right now we're testing

play37:39

a bunch of different things we're

play37:41

testing email we are testing short form

play37:43

content we are making a ton of long form

play37:45

content we're basically setting aside a

play37:47

huge portion of the money that's coming

play37:49

in into marketing spend and I'd say that

play37:52

for me my natural thing is organic

play37:54

marketing I am better at that I don't

play37:56

have much experience with paid stuff and

play37:58

so we have a huge media team we have

play38:01

hosts we have a bunch of editors

play38:02

graphics people website people we spend

play38:04

a significant amount of money trying to

play38:07

create educational content related to

play38:09

Staffing and business owners and that in

play38:12

return drives a ton of our leads right

play38:14

now yeah the winning formula for

play38:16

marketing is basically first increasing

play38:18

your eyeballs this is going to be done

play38:19

by increasing the amount of content you

play38:22

do you know good content not bad content

play38:24

and one quick tip for this that I want

play38:25

to mention is stories always better than

play38:28

statistics you're always going to have

play38:29

more conversions more eyeballs and

play38:31

things when you you know prioritize

play38:33

stories rather than just statistics that

play38:35

anyone can find yeah going back to the

play38:37

whole strategy increase your eyeballs by

play38:39

increasing your content and the amount

play38:41

of content you're putting out on all

play38:43

these different platforms then optimize

play38:45

by turning those eyeballs into actual

play38:47

leads for your business or service there

play38:49

are so many different ways you can do

play38:51

that I'm not going to talk about that in

play38:52

this video cuz I can talk about that for

play38:54

hours and hours and yeah the whole point

play38:55

I'm trying to make is marketing is is so

play38:57

important for everything sales is so

play39:00

important for everything so if you

play39:02

yourself are trying to start a business

play39:03

or you currently already have a business

play39:05

I would really encourage you to develop

play39:07

more resources time and energy into your

play39:09

marketing approach into testing

play39:11

different marketing strategies uh taking

play39:13

risk with your marketing because if you

play39:15

want your business to make money then

play39:17

probably going to come down to your

play39:18

marketing okay next thing I want to talk

play39:19

about is taxes I know this is a bit

play39:22

different than the other things I've

play39:23

talked about this probably won't relate

play39:25

to most of you guys but if you're making

play39:27

a lot of money or you want to make a lot

play39:28

of money then you need to start learning

play39:30

about tax strategy you need to start

play39:32

learning about the ways in which the

play39:34

wealthy are you know putting their money

play39:37

into things that allow them to pay less

play39:38

in taxes and yeah tax strategy is

play39:41

probably one of the highest Roi things

play39:42

you guys can do uh I think way too many

play39:45

business owners Focus too much on like I

play39:47

said marketing uh building the business

play39:49

all that stuff that's all extremely

play39:51

important but what gets left behind is

play39:53

the taxes for most businesses for most

play39:56

wealthy people tax taxes are going to be

play39:58

probably their biggest expense here in

play40:00

California paying over 50% which when I

play40:02

say it is just crazy but the good thing

play40:04

is that there are a lot of strategies

play40:06

that the IRS the government give us in

play40:08

which we can actually reduce legally our

play40:11

taxes and so this sort of goes back to

play40:13

the whole learning thing right you need

play40:14

to spend time doing things and learning

play40:17

things and implementing things that have

play40:19

a big impact on how much money you make

play40:21

because or at least how much money you

play40:23

keep and take home at the end of the day

play40:25

I'd say that one of my biggest mistakes

play40:27

last last year was spending a very small

play40:29

percentage of my time and effort on tax

play40:32

strategy for sure under 5% where if you

play40:34

think about it it should be at least 10

play40:36

15% of your time most people they're not

play40:39

going to spend that much time or they're

play40:40

going to hire someone to do all that

play40:41

stuff for them but the whole point is

play40:43

spend effort and resources delegate time

play40:46

and money on things that have a huge

play40:49

impact on whatever you're trying to do

play40:51

right that also relates to efficiency

play40:53

and for me paying taxes it cuts hugely

play40:56

into my accumulation of wealth and it

play40:58

really is going to add on a ton of years

play41:01

for me to reach uh my net worth goal if

play41:04

I didn't have to pay taxes I'd probably

play41:05

get to my net worth goals at least two

play41:07

to three times faster for most people uh

play41:10

reducing your taxes is likely just going

play41:11

to be reinvesting into your own business

play41:14

reinvesting into your team buying

play41:16

supplies buying tools that help you make

play41:18

more money the next year and just keep

play41:20

doing that pay yourself enough salary to

play41:22

get by and have a good life but you

play41:24

don't need to take out all that money

play41:25

and pay taxes on it the other thing that

play41:27

most people should be doing if they can

play41:29

is to get into real estate somehow there

play41:31

are so many ways to utilize real estate

play41:34

to reduce your overall tax bill I don't

play41:36

talk too much about it on my channel but

play41:38

I spend a lot of time learning about

play41:40

this it's probably going to be something

play41:42

that has to do with real estate

play41:43

professional status with IRS where you

play41:45

can offset your active income through

play41:47

real estate losses and by real estate

play41:49

losses I just mean paper losses losses

play41:51

that occur on paper only and that's

play41:54

basically just going to be depreciation

play41:55

real estate really is such a great tool

play41:58

to reduce your taxes if you understand

play42:00

it properly and so yeah again it all

play42:02

comes down to knowledge and spending the

play42:04

effort to be prepared if you have a huge

play42:07

tax bill and you want to lower your tax

play42:08

bill there's so many things you can do

play42:10

the last thing I want to talk about is

play42:12

sort of just the whole spiel about why

play42:14

I'm so passionate about the content that

play42:16

I make I graduated college thinking that

play42:19

I was supposed to go into medicine my

play42:20

parents wanted me to go to medicine they

play42:22

wanted me to be the doctor I never

play42:24

enjoyed that I never envisioned myself

play42:27

being a successful doctor and really

play42:29

enjoying my life just wasn't something

play42:31

that you know I could Envision and

play42:33

that's because it's not something that I

play42:34

wanted to do after graduating college I

play42:36

ended up not getting into med school and

play42:38

I started to work for myself I did a

play42:41

bunch of side hustles and I decid I want

play42:43

to try and take a more non-traditional

play42:46

approach to making money to building

play42:49

business to building a life for myself I

play42:52

think most people it just makes sense

play42:53

because we're taught to get a normal job

play42:55

we're taught to get married by the of 30

play42:57

have kids blah blah blah all that stuff

play42:59

and that's a that's a good life you can

play43:01

have a great life doing that for me it's

play43:02

not something that I wanted and so the

play43:04

point of this section is to just be

play43:07

unafraid of going the non-traditional

play43:09

rep just because something is normal or

play43:13

expected in society doesn't mean that it

play43:15

is the correct thing for you to do

play43:17

everyone is going to be different right

play43:19

most people are going to want that type

play43:21

of life and if they don't then I really

play43:24

hope that they start doing things to

play43:26

actually have the life that they want

play43:27

because if they don't that's just for me

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sad I don't I don't like seeing that

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everything that I talk about on my

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channel it is about doing things a

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little bit differently about making

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money a little bit differently doing a

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side hustle investing something that a

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lot of people struggle with and just

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building the type of life that you want

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because at the end of the day you

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probably only have I don't know 70 to 90

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years of life I have the same 70 to 90

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years of life and I want to make sure

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that my life is as good as possible I

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want your life to be as good as possible

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too I want you to have fulfillment I

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want you to spend your days doing things

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that make you happy and so this I think

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all is a mindset right like if you are

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in the mindset that you need to do

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things a very traditional way a way

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that's already been paved for you then

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you'll probably do that but if you take

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on the mindset that all the great things

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in life that you want are probably from

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something that is a bit more

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untraditional a bit more risky where

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there's this whole time where you're

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probably going to feel lost then it's

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probably going to result in you just

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having a much better life life isn't

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just about money it's not about

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efficiency it's not about learning all

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the time all that stuff right for me

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it's about growth doing things you like

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learning skills you want to learn

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spending your days doing things that

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make you happy I think most people just

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aren't doing that makes me sad and so

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hopefully my type of content it can

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inspire you right it can allow you to

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start taking action and at the end of

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the day the thing I just don't want to

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you know die with is a lot of regrets I

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don't want to die knowing that I could

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have done a lot of other cool things in

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my life life and the way to combat that

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is basically by starting to implement

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everything we talked about in this video

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because that's going to change your

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mindset it's going to change the your

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actions you're doing it's going to

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change the speed in which you do your

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actions it's going to change how you

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choose to spend your time who you spend

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time with how you can work a bit more

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smart so that you don't need to work as

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hard yeah all this stuff it is just to

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help you live a better life and I really

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hope that you know sharing these lessons

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has at least somewhat inspired you I

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know that I have a lot more to learn in

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life I know that in one year my

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knowledge is going to be significantly

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higher than where it is right now in 10

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years it's going to be astronomically

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higher and the things I learned in the

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last 10 years that have helped me I'd

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say live a pretty special life the cars

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I've wanted the relationship I've wanted

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the friends I've wanted the time Freedom

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that I've wanted hopefully this can

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inspire you because the reason why I'm

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so passionate about it is because it

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worked for me and I think it can work

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for you so yeah that's I think all I

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want to talk about in this video

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hopefully you can click out of this

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video knowing that you are capable of

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doing things that you've always wanted

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to do and that the only thing that's

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stopping you is the mindset the action

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the speed and probably your environment

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as well I'm also really curious because

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I love learning from other people if you

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made it this far I want you to share a

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life lesson that has really helped you

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out in your own life because yeah we can

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always learn from each other and see I

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just want to hear what you have to say

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in the comments down below all right my

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voice is super tired I haven't talked

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this much in a while but again I really

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hope you got some value from it do a lot

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of content like this so if you want want

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to see more videos about investing

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entrepreneurship money side hustles all

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that stuff then make sure to give this

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video a like also subscribe and turn on

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that notification Bell sincerely thank

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you for spending so much time with me

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and hopefully I'll see you in the next

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video peace

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[Music]

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