Author: Young and Profiting (YAP) with Hala Taha

  • YAPClassic: Lewis Howes, 6 Mindset Hacks to Conquer Doubt and Build Confidence

    AI transcript
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    0:01:19 [MUSIC]
    0:01:21 What’s up, young and profitors?
    0:01:23 It’s time to talk about greatness.
    0:01:27 And who better to talk about that with than the host of the School of
    0:01:29 Greatness podcast, Lewis House.
    0:01:33 In this 2023 interview from episode 232,
    0:01:37 Lewis gave us a masterclass on how to develop a greatness mindset and
    0:01:39 the work it takes to get there.
    0:01:43 Once upon a time as a senior in college and an all-American athlete,
    0:01:44 Lewis had it all.
    0:01:47 Then he received some life-changing news.
    0:01:49 The night before a big football game,
    0:01:52 Lewis’s father got into a car accident that left him in a coma.
    0:01:56 When his dad could no longer guide him, Lewis started seeking new mentors.
    0:01:58 And he began reaching out to highly accomplished people,
    0:02:01 asking them about their stories of success.
    0:02:05 In this conversation, we’ll explore some of the key lessons Lewis has learned
    0:02:10 from his quest on covering how we can all embrace our own paths to greatness.
    0:02:13 Whether you’re seeking inspiration for your personal journey or
    0:02:16 looking to elevate your professional life, you are going to want to hear this.
    0:02:24 I’d love to talk to you about your story and your own journey towards greatness
    0:02:26 and what you’ve learned along the way.
    0:02:28 And from my understanding when I was doing my research,
    0:02:31 a major piece of your story occurred when you were sleeping on your sister’s
    0:02:35 couch in Columbus, Ohio at the age of 23.
    0:02:40 You had an injury that abruptly ended your professional football career.
    0:02:43 And your dad was recently in a car accident and was put in a coma.
    0:02:47 You were also pretty broke and it seemed like the walls of your world were
    0:02:49 basically caving in on you.
    0:02:52 So I’d love to understand what were the aha moments or
    0:02:56 the series of moments that got you off of your sister’s couch?
    0:03:00 >> I think I had something inside of me calling me for something more.
    0:03:05 In a moment of, or many moments, many months of breakdown and sadness.
    0:03:09 And kind of grieving, grieving the loss of my dream of playing football,
    0:03:13 grieving my father who was in a hospital for many months in a coma.
    0:03:19 And just kind of grieving loss in general, emotional, mental, physical loss.
    0:03:21 And having a lack of certainty.
    0:03:22 I didn’t have certainty.
    0:03:24 I didn’t have clarity about my future.
    0:03:26 I didn’t know what the point of all this was.
    0:03:28 And so it was just very confusing time.
    0:03:30 And I didn’t have any resources.
    0:03:31 I didn’t have any money.
    0:03:35 I was in debt from my college loans.
    0:03:39 This was in 2008, 2009 when the economy in the US was essentially tanking.
    0:03:42 The housing crisis was tanking and everything.
    0:03:47 And I didn’t have my father who was kind of my backup bank account.
    0:03:50 If I needed money, he would give me like 50 bucks here and there.
    0:03:52 It was like a security blanket almost.
    0:03:54 Like, okay, go chase your dream.
    0:03:57 When you’re done, you can come and I’ll hire you for my company type of thing.
    0:03:59 So I didn’t have that anymore.
    0:04:02 So I had to learn how to be resourceful.
    0:04:06 I had to learn how to kind of fend for my own, really.
    0:04:09 And how to tap into a network of people that I didn’t know.
    0:04:11 But I felt like I needed to know.
    0:04:14 So that’s when I started reaching out to mentors, coaches, guides.
    0:04:19 I started consuming as much as I could in terms of resources and books,
    0:04:23 going to conferences, and just trying to meet people, learn from people,
    0:04:24 and take action.
    0:04:26 So that was kind of that journey then.
    0:04:30 >> So something that me and you both have in common is that we leveraged
    0:04:35 LinkedIn as a launchpad of our careers and our podcasts.
    0:04:37 So I did the same thing five years ago.
    0:04:39 You did it ten years ago, right?
    0:04:42 And so I’d love to understand how you leveraged LinkedIn to get your foot in
    0:04:45 the door and start in the world of online business.
    0:04:48 >> Yeah, I started on LinkedIn at end of 2007, actually.
    0:04:52 I think there was only about 12 million people on the platform at the time.
    0:04:55 I wrote a book about LinkedIn in 2009.
    0:04:57 There was one other book about it, but
    0:04:59 I think there’s probably hundreds of books about it now.
    0:05:01 But I was one of the first that wrote a book about LinkedIn.
    0:05:04 And I became obsessed with it early on because a mentor said,
    0:05:05 why don’t you check it out?
    0:05:07 Maybe you can find a job there.
    0:05:10 And I was just trying to network on there originally.
    0:05:13 LinkedIn was not as robust as it is now.
    0:05:17 And so after about five years, I kind of gave up on LinkedIn because it was so
    0:05:19 powerful in the beginning for me.
    0:05:22 But then they weren’t innovating like other social media platforms were.
    0:05:26 And they did not connect with creators, influencers.
    0:05:30 They didn’t have any support for someone like me back then.
    0:05:34 So I really felt like they neglected the community, in my opinion.
    0:05:40 And then I guess about five, six years ago they started to innovate their platform.
    0:05:44 And add more tools and resources for creators.
    0:05:48 I slowly got back on because I kind of got burnt out from LinkedIn because it
    0:05:51 just was, it was so challenging to work with the platform.
    0:05:56 And the team at LinkedIn wasn’t responsive as they are now.
    0:06:01 It was a launching pad in sense of building powerful connections early on for me.
    0:06:06 And I met some incredible people that I networked with on the platform,
    0:06:09 that I’m still friends with today back in 2007.
    0:06:15 There’s a friend of mine who is a mega billionaire now that I met in 2007 by
    0:06:19 just sending him a direct message on LinkedIn and us building a friendship
    0:06:23 over the years and going to events together and watching each other grow.
    0:06:27 And I just saw him a couple months ago and it’s like all because of LinkedIn,
    0:06:29 the power of connection.
    0:06:31 So it’s been an amazing platform in general.
    0:06:35 I wish I would have used it when I had my podcast launched because I actually
    0:06:38 didn’t use LinkedIn that much when I launched the show.
    0:06:39 Wow, interesting.
    0:06:43 And so I’d love to understand what gave you the genesis and the idea for
    0:06:48 starting your podcast because you were pretty early on 2013 at that time,
    0:06:50 was still really early.
    0:06:51 Yeah.
    0:06:55 In 2012, I was going through a transition in my business at the time.
    0:06:57 I had an online marketing company.
    0:07:00 I was kind of getting burnt out by what I was doing.
    0:07:04 And I just didn’t feel like it was meaningful to me anymore.
    0:07:09 It was still powerful, it was making money, but it wasn’t a deeper meaning,
    0:07:10 sense of purpose.
    0:07:14 And what I was doing, though, is I was using LinkedIn before then to connect
    0:07:17 with coaches and mentors and leaders.
    0:07:19 And I would meet with a lot of them in person.
    0:07:22 And I was getting so much wisdom and knowledge from them when I would ask
    0:07:26 them questions that I was just like, I should probably record these.
    0:07:29 And I’ve heard of this thing called podcasting.
    0:07:32 No one knows what it is at the time, 2012.
    0:07:34 But I was like, I feel like it might be big one day.
    0:07:37 I said, all right, I called two friends that had a podcast.
    0:07:40 There was probably only 50 people at the time that had podcasts.
    0:07:42 I called two of them.
    0:07:43 They told me they loved it.
    0:07:44 They loved the experience.
    0:07:46 They loved the connection with the community.
    0:07:51 They felt like it was the most engaged type of content they were able to create
    0:07:53 with people in the community.
    0:07:54 So I said, I think I could do this.
    0:07:55 I have no clue what I’m doing.
    0:07:57 I’ve never done this before.
    0:07:59 I didn’t go to school for this, but I feel like I can figure it out.
    0:08:01 Let me try it for one year.
    0:08:04 I’ll do it once a week for a year as an experiment.
    0:08:05 And if it doesn’t work out, then I’ll stop.
    0:08:07 But I fell in love right away.
    0:08:13 And now 10 years later, 1400 plus episodes later, almost a billion downloads later,
    0:08:14 it’s still going.
    0:08:16 That is absolutely amazing.
    0:08:18 You’ve been crushing it on your podcast.
    0:08:23 And after I’ve looked at your story and learned more about how you came up,
    0:08:26 I realized that you were an early adopter in so many things.
    0:08:30 So you were an early adopter in LinkedIn, then you were an early adopter in podcasting.
    0:08:34 And now on YouTube, you’re crushing everybody in the podcast game
    0:08:39 because you were one of the first ones to take the full step in and becoming a video podcast.
    0:08:45 Yeah, it was almost eight years ago after maybe it was two or three years into the podcast.
    0:08:48 I started to see probably the third year in.
    0:08:51 I was like, oh, OK, this is a thing.
    0:08:53 And there are lots of other people starting to jump in.
    0:08:57 I would say I was like the second wave of people that jumped into podcasting.
    0:09:00 If Joe Rogan was like two years before me.
    0:09:04 And then there was just like some underground tech podcast that was essentially it.
    0:09:06 There were no bigger shows.
    0:09:10 There were some big shows at that time in the small ecosystem, but it wasn’t mainstream.
    0:09:18 Then there was guys like me and Pat Flynn and Rich Roll kind of all came in around the same time,
    0:09:23 maybe within a six month window in 2012, 2013.
    0:09:29 And so we were kind of like the second wave of people jumping in and trying to figure it out.
    0:09:34 And then probably 2015, I think that was probably around the time when Serial came out
    0:09:38 and it became more mainstream podcasting.
    0:09:40 And then there was that’s kind of the third wave.
    0:09:42 And now it just keeps the waves keep coming.
    0:09:44 I remember around that time, I was just like, I don’t know.
    0:09:47 I feel like this is just going to keep getting bigger.
    0:09:51 And it’s hard to innovate audio, at least it was at the time.
    0:09:54 And I still think it is kind of hard to innovate audio at this time.
    0:09:55 It’s not viral.
    0:09:56 It’s not really shareable that well.
    0:09:59 It’s you can only do so much with the editing.
    0:10:00 There’s only so many things you can do.
    0:10:05 So I was like, I feel like I need to film these and just put them up on YouTube
    0:10:09 and use it as a promotional tool to promote the audio.
    0:10:11 And so for five years, that’s what I did.
    0:10:15 I put them on YouTube, I would cut up clips, put it on social media.
    0:10:20 But I never monetized the YouTube or the video until two years ago, two and a half years ago.
    0:10:23 And then I turned monetization on because I didn’t want guys who were running ads
    0:10:27 to be in front of my content selling their Ferrari courses or whatever it was.
    0:10:31 So for me, I just wanted to add value and serve and just give for free.
    0:10:38 So I invested for five years, a videographer and editor to do it without monetizing it at all.
    0:10:43 And it was probably one of the best decisions I did because now we have over a thousand videos
    0:10:48 on YouTube that are constantly searchable and shareable and adding value to people.
    0:10:49 Yeah, that’s amazing.
    0:10:51 You’re doing amazing things on YouTube.
    0:10:54 And you may not know this, but I have a podcast network.
    0:10:57 So I represent like 20 different self-improvement and business shows.
    0:11:00 And I just presented at the IAB up front.
    0:11:05 And my whole presentation was about the fact that podcasts are not audio only.
    0:11:07 They’re multi-channel now.
    0:11:09 You shouldn’t focus audio first even for your ads.
    0:11:14 You should be promoting across YouTube, podcast, live streams, even paid live events,
    0:11:16 which I know that you also do as well.
    0:11:21 So really cool to see you pioneering once again in the podcast space.
    0:11:25 So I’d love to understand, when did you first start getting traction with your podcast?
    0:11:29 Like how long did it take you to get traction with your podcast?
    0:11:35 My first year going all in, promoting every single week on every channel
    0:11:43 of marketing efforts that I had, I got only 750,000 downloads total in my first year.
    0:11:46 And that was every day promoting everywhere.
    0:11:49 The second year, I had a million and a half downloads.
    0:11:53 Third year, I think it was like three and a half or four million or something like that.
    0:11:58 And so I feel like it took like years, really, for me to get certain types of scale.
    0:12:03 Two years ago, I think we had a few hundred million downloads in one year.
    0:12:06 But it took many years for that to scale up.
    0:12:07 It takes time.
    0:12:10 And I think that’s why I tell a lot of people, don’t do a podcast unless you’re committed
    0:12:14 to doing it without getting any downloads and any results for years.
    0:12:17 If you think you’re going to make money and get millions of downloads right away,
    0:12:18 it’s just not going to happen.
    0:12:21 So you got to do it because you really enjoy it.
    0:12:22 You really love it.
    0:12:27 You feel like you’re called to share something in the world in your unique perspective.
    0:12:29 Yeah, it was a struggle.
    0:12:34 But at the same time, there was traction in the sense that the community loved it
    0:12:38 and they were talking about it and they were raving about it.
    0:12:41 So there was a small community that was really growing.
    0:12:44 It just wasn’t this mass scale for years.
    0:12:46 Yeah.
    0:12:52 I mean, 750,000 in the first year is still in today’s standards now is really good.
    0:12:54 So it sounds like you were doing good from the start.
    0:12:56 But now we get that in like a couple of days, you know.
    0:13:00 So yeah, it’s totally different now, but 10 years later, right?
    0:13:01 Yeah, exactly.
    0:13:01 Okay.
    0:13:06 So like you said, your podcast reaches hundreds of millions of people now every single month.
    0:13:09 And you’ve had a lot of inspiring individuals.
    0:13:10 We’ve had a lot of crossover and guests.
    0:13:12 Your guests are even bigger than mine.
    0:13:16 And you launched a third book recently where you included some of the learnings
    0:13:17 that you got from these guests.
    0:13:19 It’s called The Greatness Mindset.
    0:13:24 And so now that you’re 10 years into your journey or more, you know,
    0:13:27 in terms of being an entrepreneur and a podcaster,
    0:13:29 what is your working definition of greatness?
    0:13:33 It’s really discovering the unique gifts and talents that are within you
    0:13:37 and in that discovery pursuing your dreams and goals,
    0:13:41 in that pursuit making an impact on the people around you.
    0:13:43 That’s for me what it is.
    0:13:46 It’s like, what’s the unique talents and gifts we have?
    0:13:48 Figure those out over our journey.
    0:13:52 Try to help as many people as possible on the pursuit of our dreams and goals.
    0:13:57 And I know a big key point in your book is finding a meaningful mission.
    0:14:00 And so I’d love to understand what your meaningful mission is
    0:14:01 and how you went about developing it.
    0:14:04 It’s to serve 100 million lives every single week
    0:14:06 to help them improve the quality of their life.
    0:14:11 And how I came about that was probably three years into the podcast
    0:14:13 as I was building and growing it.
    0:14:15 I didn’t know what it was for me.
    0:14:17 I was like, why am I doing this?
    0:14:18 What’s the purpose?
    0:14:19 What’s the reason?
    0:14:23 What’s the, why am I getting up every morning and working hard on this thing?
    0:14:24 And then I got clear on it.
    0:14:26 I was like, well, what do I want to accomplish?
    0:14:28 What do I want to, how do I want to serve people?
    0:14:29 And how many people do I want to serve?
    0:14:31 I would ask other people this question.
    0:14:32 I would say, what do you want?
    0:14:33 I want to change the world.
    0:14:36 I want to make billions of dollars and all these different things.
    0:14:38 And I was like, okay, changing the world.
    0:14:40 Everyone says I want to impact the world.
    0:14:43 And I was just like, all right, that’s hard to quantify.
    0:14:47 And so for me, I was like, what is something that I could quantify?
    0:14:50 And then I would hear people say, I want to impact billions of people.
    0:14:53 I’m like, okay, yes, and you’re just getting started.
    0:14:55 So it just seems too far away.
    0:14:57 And so I said, I want to reach 100 million lives.
    0:14:59 And then we did that in one year.
    0:15:02 And I said, okay, I want to do it every week.
    0:15:03 I want to reach 100 million lives a week.
    0:15:07 And so I was like, all right, that’s, that seems like a big stretch,
    0:15:09 but it’s a quantifiable number.
    0:15:14 And it will force me to get creative, get resourceful.
    0:15:18 It’ll force me to overcome my fears and insecurities that hold me back.
    0:15:21 It’ll force me to develop new skills and talents
    0:15:24 to think beyond where I’m currently at,
    0:15:28 so that I could potentially achieve that goal one day.
    0:15:29 And so it just excited me.
    0:15:31 And it seemed far away.
    0:15:33 It gives me something to measure,
    0:15:36 and it gets me something to be excited about every day.
    0:15:39 Yeah, so it’s not too unrealistic,
    0:15:42 but it’s still pushing you and pushing your boundaries.
    0:15:43 Absolutely.
    0:15:46 So in terms of this mission, I noticed that you didn’t say,
    0:15:50 I’m a podcaster who does this, or I’m an author who does this,
    0:15:52 or any other label that I could stick on you.
    0:15:52 Why is that?
    0:15:56 When I focus on the mission, which is service,
    0:16:01 there can be different mechanisms that can do it.
    0:16:05 If podcasting dies tomorrow, then I don’t want to be,
    0:16:06 well, I’m only a podcaster.
    0:16:12 Now I can’t service the mission anymore with this mechanism
    0:16:13 because the mechanism is gone.
    0:16:19 And there’s always a message within the mechanism to serve the mission.
    0:16:23 And so the message will continue to evolve and expand,
    0:16:27 whether it’s packaging content and storytelling in a book
    0:16:30 and giving tools and resources so people can consume it this way,
    0:16:33 whether it’s audio, whether it’s video, whether it’s AI,
    0:16:35 it’s always going to evolve and expand.
    0:16:38 But there’s a mission, and then you got to figure out
    0:16:39 what are the mechanisms that will serve you
    0:16:42 in accomplishing the mission’s goal,
    0:16:44 which is 100 million lives weekly.
    0:16:47 And then there’s a message, what is the message
    0:16:49 that you’re going to use and share?
    0:16:50 Am I sharing the message?
    0:16:52 Is it audio, is it video message?
    0:16:54 Is it a written message?
    0:16:56 Is it other people’s messages?
    0:17:00 How can I distribute that message
    0:17:02 through the mechanisms to serve the mission?
    0:17:05 And so I’m just trying to think of what are the things
    0:17:08 that excite me that I’m good at, that I’m talented at,
    0:17:12 that I enjoy doing those mechanisms,
    0:17:14 sharing the message through those mechanisms
    0:17:16 to get to the mission faster.
    0:17:17 That’s what I think about.
    0:17:19 I haven’t mastered it.
    0:17:22 I don’t feel like I’m close to figuring it out,
    0:17:25 but we have something we can measure every single week
    0:17:27 to support us in getting there faster.
    0:17:29 I think that that makes a lot of sense.
    0:17:31 I know when I think about myself and my mission,
    0:17:34 I always say I want to be a positive voice for my generation,
    0:17:37 and my voice can be on podcasts, on live streams, in a book,
    0:17:38 wherever it is.
    0:17:42 That way, I don’t have to pigeon-hold myself to one thing
    0:17:42 as things evolve.
    0:17:44 Because like you know, podcasting,
    0:17:46 mine is already evolving so much.
    0:17:47 It’s not really what it was,
    0:17:49 even like we were talking about 10 years ago.
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    0:21:05 Yeah, fam, when I first started this podcast,
    0:21:08 my amazing volunteer team helped me out.
    0:21:11 But as my business grew, we needed to hire real talent
    0:21:13 with real experience.
    0:21:14 And it became overwhelming
    0:21:16 because I’d had to sort through piles
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    0:21:44 23 hires were made, according to Indeed Data Worldwide.
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    0:22:34 So let’s talk about something you speak about
    0:22:36 in your book called Sweet Spots.
    0:22:37 And you say this can help you figure out
    0:22:39 what your meaningful mission is.
    0:22:41 What is a sweet spot exactly, and how do we discover it?
    0:22:46 Yeah, it’s really figuring out the talents that you have,
    0:22:47 the skill sets you have.
    0:22:50 It’s figuring out what makes you unique.
    0:22:54 And then how can I go profit from these talents?
    0:22:56 How can I go monetize these talents?
    0:22:58 What are the tools and the things available
    0:23:00 for me to do these things?
    0:23:02 When we figure out those two areas,
    0:23:04 I feel like there’s a sweet spot there
    0:23:06 in between that that we could take action on.
    0:23:07 And for me, again, it was,
    0:23:09 I didn’t think I had a lot of talent.
    0:23:11 I didn’t think I had a lot of skill, but I was curious.
    0:23:15 And I go, how can I use this talent of curiosity?
    0:23:15 Is this a talent?
    0:23:17 I didn’t think it was, but I was like,
    0:23:19 there’s a hidden talent of curiosity there.
    0:23:23 So how can I use this to make money and to make an impact?
    0:23:25 Okay, I don’t have to be the voice.
    0:23:26 I can interview people.
    0:23:30 I didn’t know how to use video or how to use audio at the time,
    0:23:32 but I was like, these are tools available out there.
    0:23:36 How can I use these tools and ask questions?
    0:23:37 Can I make money around this?
    0:23:39 I have no idea.
    0:23:41 But the more I did it, the more I showed up
    0:23:42 and was of service to people,
    0:23:44 I was able to monetize these things.
    0:23:48 And so for me, I didn’t know the path,
    0:23:50 but I started to ask myself, what are my talents?
    0:23:52 What are the things I’m really good at?
    0:23:53 What are some mechanisms out there
    0:23:55 that I could start tapping into?
    0:23:58 And then how can I just take action consistently around this
    0:24:00 so that I can figure out how to make a living
    0:24:01 doing the things I enjoy doing?
    0:24:02 I love that.
    0:24:04 I think that is really great advice.
    0:24:06 And another piece of advice that I really liked in your book
    0:24:09 is this idea of the perfect day itinerary.
    0:24:11 And this will really help us get
    0:24:14 into what you call a greatness mindset.
    0:24:16 So first of all, what is a greatness mindset?
    0:24:17 And then can you go over this exercise
    0:24:19 of a perfect day itinerary?
    0:24:22 Well, on page 204, I have a graph.
    0:24:23 I have a chart.
    0:24:26 And I don’t know if we got you a book or not,
    0:24:28 but there’s a graph here for people.
    0:24:29 Sorry, 201.
    0:24:32 And I show the difference between a greatness mindset
    0:24:34 and a powerless mindset.
    0:24:37 So a lot of people live in a powerless state.
    0:24:39 And it doesn’t mean they’re in a powerless state all the time,
    0:24:41 but they might have one or two areas
    0:24:45 that make them feel more powerless than powerful.
    0:24:48 And so I’ll just share these six categories
    0:24:52 of a powerless mindset versus a greatness mindset.
    0:24:54 And use this as an assessment.
    0:24:56 So if you’re listening or watching, just ask yourself,
    0:24:58 okay, am I doing any of these things?
    0:25:01 If so, it may feel like you are powerless
    0:25:04 in your day-to-day or your decision-making,
    0:25:06 or you feel like there’s a weight on your shoulders.
    0:25:08 It’s probably because of one of these six things
    0:25:09 that are happening.
    0:25:12 So a powerless mindset occurs
    0:25:13 when you lack a meaningful mission.
    0:25:17 So when I was living on my sister’s couch for a year and a half,
    0:25:20 and I was in a cast and had a surgery
    0:25:23 and didn’t know what I was going to do in my life,
    0:25:26 I lacked a meaningful mission.
    0:25:27 And I felt powerless.
    0:25:28 I was like, who am I?
    0:25:29 What’s the point?
    0:25:30 What am I doing here?
    0:25:32 I felt very powerless.
    0:25:34 People think they need to get it all figured out
    0:25:35 like for the rest of their life.
    0:25:37 And it’s really season by season.
    0:25:39 Like what is the mission of this season?
    0:25:42 This season can be for the next six months,
    0:25:44 the next six years, the next whatever.
    0:25:45 We don’t have to define,
    0:25:47 I need to know what I’m going to do for the rest of my life.
    0:25:49 It’s what is this season’s calling?
    0:25:52 And getting clear on the meaningful mission
    0:25:55 will make you step into a greatness mindset
    0:25:57 versus a powerless mindset.
    0:25:59 So when you lack a meaningful mission,
    0:26:00 you’re going to feel powerless.
    0:26:03 You’re not going to feel as courageous, as strong.
    0:26:06 You’re not going to have belief in yourself
    0:26:07 when you’re in this state.
    0:26:10 The second thing is you’re controlled by fear.
    0:26:12 A lot of people are consumed by fear,
    0:26:15 and there’s three types of fear that cause us to doubt ourselves.
    0:26:18 The first one being the fear of failure.
    0:26:19 The second one being the fear of success,
    0:26:22 believe it or not, almost 50% of people
    0:26:24 are just as afraid of their own success
    0:26:27 as they are their own failure.
    0:26:30 And the third main fear that causes us to doubt ourselves
    0:26:33 is the fear of judgment, people’s opinions.
    0:26:38 And this causes us to be crippled by making decisions
    0:26:40 by acting courageously on our dreams.
    0:26:42 I don’t know how if you’ve ever asked someone,
    0:26:45 “What is your goal and what’s your dream?”
    0:26:47 And they say, “I want to launch my own podcast.
    0:26:48 I want to write a book.
    0:26:50 I want to do a start a business.
    0:26:53 I want to get into a relationship,” whatever it is.
    0:26:56 And you ask them, “How long have you been thinking about this?”
    0:26:59 And people say, “Five years, seven years, 20 years,
    0:27:01 I’ve been wanting to write that book.”
    0:27:05 And one of those three fears holds them back,
    0:27:06 the fear of failure, the fear of success,
    0:27:08 and the fear of judgment.
    0:27:13 And so these are factors that cause people to hesitate,
    0:27:15 to not take that step forward.
    0:27:17 And so we got to understand what’s the root
    0:27:19 of one of these three fears
    0:27:21 that we all have faced at different times.
    0:27:24 There’s a root underneath those fears.
    0:27:27 And typically the root is, “I am not enough.”
    0:27:30 And when we believe I am not enough,
    0:27:32 we are going to allow one of these three fears to
    0:27:36 run our lives as opposed to us running through them
    0:27:37 and beyond them.
    0:27:41 So when we are controlled by fear, we are powerless.
    0:27:42 We are in a powerless state.
    0:27:44 We’re saying, “This has power over me,
    0:27:46 so I’m not taking action.”
    0:27:49 The third thing is crippled by self-doubt.
    0:27:52 Fear and self-doubt play hand in hand.
    0:27:56 When we are controlled by fear, we usually have an insecurity.
    0:28:00 I’m not going to be enough, so my self-doubt is holding me back.
    0:28:05 I am therefore powerless to these opinions, these beliefs.
    0:28:08 The fourth thing, I don’t think a lot of people talk about this
    0:28:13 in the different habit, mindset, success books of the world.
    0:28:17 The fourth thing is that they conceal past pains.
    0:28:22 So for 25 years, I held on to a pain and secrets
    0:28:23 that no one knew about me.
    0:28:25 I was sexually abused when I was a kid and no one knew it.
    0:28:27 And I was terrified.
    0:28:28 I concealed this past pain.
    0:28:31 It was like a poison running through my psyche,
    0:28:36 my body, my heart, my energy, everything because I was ashamed.
    0:28:38 And I thought, “If people knew this about me,
    0:28:42 no one would accept me or love me and I’ll die
    0:28:43 if they actually knew this about me.”
    0:28:48 That was the story running through my mind constantly.
    0:28:51 And I was afraid of the opinions and judgments of others.
    0:28:52 That was my biggest fear.
    0:28:54 I was not afraid of failure or success,
    0:28:57 but people’s opinions crippled me
    0:29:01 because I had this shame and guilt inside of my soul.
    0:29:03 And when we conceal past pains,
    0:29:06 I’m not saying you need to say everything publicly to the world,
    0:29:08 but when you’re holding on to something
    0:29:12 that is a poison inside of you, it will make you feel powerless.
    0:29:16 You will not be stepping into the greatness mindset
    0:29:17 with this inside of you.
    0:29:19 So we’ve got to learn to heal.
    0:29:21 Most of my book is about healing.
    0:29:24 It’s a trojan horse for processing, healing,
    0:29:26 and getting out the poison inside of us
    0:29:29 so that we can thrive at the highest levels.
    0:29:32 Most of these books don’t talk about revealing past pain,
    0:29:36 but from all the research and the 10 years of doing this,
    0:29:38 this is the path.
    0:29:41 It is the path to achieving greatness
    0:29:44 is by setting yourself free emotionally and psychologically.
    0:29:47 The fifth thing is being defined by the opinions of others.
    0:29:50 This is something I mentioned already a couple of times.
    0:29:54 When we are defined by people, they have control over us.
    0:29:57 They control our decisions and our actions
    0:30:00 because we’re so concerned about their opinions.
    0:30:04 So therefore, you are powerless if someone else is controlling you.
    0:30:07 And the sixth thing is you drift towards complacency.
    0:30:11 I’m not saying you need to be striving to be making more
    0:30:13 and doing more all the time,
    0:30:16 but I just feel like when we are drifting,
    0:30:19 when we are wanderers and we aren’t improving
    0:30:23 or growing in some area of our life, we feel powerless.
    0:30:26 These six areas of your life,
    0:30:29 I would ask everyone to do an assessment, a self-assessment,
    0:30:31 and say, “Is there any one of these things
    0:30:33 that’s happening for me right now
    0:30:36 or maybe causing me to doubt myself more?”
    0:30:38 If so, there’s a way to break through them.
    0:30:40 You have the awareness now.
    0:30:43 Then we’ve got to make a decision and a commitment
    0:30:46 to break through to get into the greatness mindset.
    0:30:49 And the greatness mindset is the sixth opposite.
    0:30:50 It’s driven by a meaningful mission.
    0:30:52 You heard mine.
    0:30:54 Impact 100 million lives every single week.
    0:30:57 I’m driven by that and it’s meaningful for me.
    0:30:58 It gives me a direction.
    0:31:01 It gives me a place to go towards that I can measure
    0:31:02 that excites me.
    0:31:04 It doesn’t mean it’s not challenging at times.
    0:31:06 It doesn’t mean I don’t go through pain and hardships
    0:31:10 and certain agony at moments,
    0:31:11 but at least I know where I’m heading.
    0:31:14 Second thing is you turn the fears into confidence.
    0:31:17 And fears are going to come at different stages and seasons.
    0:31:19 As we unlock new potential,
    0:31:21 there’s going to be a new fear and uncertainty.
    0:31:24 So we have to keep driving into the fear,
    0:31:25 turning into confidence.
    0:31:27 You overcome self-doubt as number three.
    0:31:28 I’m supposed to let it cripple you.
    0:31:33 Number four, healing past pains, not concealing them.
    0:31:38 When we heal, we become greater than our past powerless self.
    0:31:41 The fifth thing is creating a healthy identity.
    0:31:45 Most of us, Hala, say a lot of negative things to ourselves
    0:31:48 unconsciously and outwardly.
    0:31:51 When someone compliments us at times,
    0:31:52 we diminish it.
    0:31:54 We say, “No, it’s not me.”
    0:31:58 We put ourselves down and our body remembers
    0:32:00 and our body listens to the words and the thoughts that we have.
    0:32:03 So we must shift that into a healthy identity.
    0:32:05 And the sixth thing is taking action with a game plan.
    0:32:07 I’m not saying you’re going to accomplish
    0:32:08 all your dreams and goals if you do these things,
    0:32:10 but you’re going to feel a lot greater when you do.
    0:32:14 And you’re going to have a deeper sense of peace,
    0:32:17 harmony, and alignment inside of your soul
    0:32:19 when you step into these things,
    0:32:21 as opposed to being in the powerless mindset.
    0:32:24 That was an amazing recap.
    0:32:26 So I want to dig into some of those ideas.
    0:32:28 We can put a pin in the perfect day of itinerary
    0:32:30 where you can get back to it.
    0:32:32 So let’s talk about overcoming fear.
    0:32:34 So I know you’re an athlete.
    0:32:36 And so the fear of failure was something
    0:32:38 that you have to deal with all the time.
    0:32:40 When you play a sport, you either win or lose.
    0:32:42 And it’s basically a 50/50 chance every time.
    0:32:46 So how did being an athlete help prepare you in business
    0:32:47 when it came to fear of failure?
    0:32:52 I never was afraid of failure because in sports,
    0:32:55 I was taught that failure is the pathway to success.
    0:33:00 So for me, I knew that missing a shot didn’t make me a failure.
    0:33:04 It just means I needed to practice better technique.
    0:33:06 I need to learn better.
    0:33:07 I need to become bigger, faster, stronger.
    0:33:10 So all information was all feedback.
    0:33:11 Failure was always feedback.
    0:33:15 Information telling me what’s not working yet
    0:33:17 and how to get better at the thing.
    0:33:19 So for me, it wasn’t about failure
    0:33:22 because I understood through coaching and through sports
    0:33:26 that you have to fail in order to succeed.
    0:33:29 There’s no way to not fail in order to succeed.
    0:33:32 So if you want success, this is the pathway.
    0:33:35 It’s about reshaping what it means to you.
    0:33:37 A lot of people have a deeper meaning.
    0:33:41 If I lose or if I miss the shot or if I failed,
    0:33:42 then I am a failure.
    0:33:46 And I never identified with that as me being the failure.
    0:33:48 I was just like, oh, I wasn’t prepared enough.
    0:33:51 Oh, I need to get faster.
    0:33:52 Oh, I need to get stronger.
    0:33:54 I need to have better technique.
    0:33:55 I need more reps.
    0:33:59 I didn’t like the feeling of failing or losing.
    0:34:03 I hated it, but it also drove me to get better.
    0:34:05 Success was not something that I was afraid of either,
    0:34:08 but most people are afraid of success.
    0:34:10 And I didn’t understand this.
    0:34:13 When I started doing the research 10 years ago
    0:34:14 and asking people in large rooms,
    0:34:16 I’d say, how many people are afraid to fail?
    0:34:18 Most people would raise their hand.
    0:34:21 And I’d say, how many people in the room are afraid of success?
    0:34:25 And over 50% of the room would still raise their hand.
    0:34:27 And I was always like, what?
    0:34:30 Because you want to be successful, but you’re afraid of it.
    0:34:34 So why would success come to you when you’re afraid of it?
    0:34:35 You’re resistant to it.
    0:34:37 You are scared of it.
    0:34:39 And yet you want it.
    0:34:43 You sound like a clingy girlfriend who wants to be in a relationship,
    0:34:47 but is anxious and scared to be open and emotional and vulnerable,
    0:34:50 but is needing your attention all the time or whatever it might be.
    0:34:54 If you want to be successful, you cannot be afraid of it.
    0:34:56 And I didn’t understand it.
    0:34:57 It didn’t make sense to me.
    0:35:00 But then it started to make sense the more I asked people questions
    0:35:02 over the last 10 years.
    0:35:07 And really, when people become more successful, unfortunately,
    0:35:10 there’s usually a couple people in their family
    0:35:12 or their close friend circle that is not accepting.
    0:35:14 Some people are like, you’re amazing.
    0:35:15 Keep going high five.
    0:35:16 You’ve got this.
    0:35:20 But there are some people close to us that start to pull away,
    0:35:21 that think, huh, what are you doing?
    0:35:22 Are you better than us?
    0:35:23 Come back here.
    0:35:25 Come be comfortable, safe.
    0:35:29 Don’t keep learning and growing and expanding beyond your reach.
    0:35:30 That makes me feel uncomfortable.
    0:35:34 When you leave the tribe to go for success,
    0:35:38 not always the tribe is supporting of that journey you’re going on.
    0:35:42 And that is a big factor for a lot of people who are married
    0:35:45 or their parents don’t want them to do that or whatever it might be.
    0:35:48 When you want to grow and go beyond something,
    0:35:49 it can be scary for others.
    0:35:52 And you want community and love.
    0:35:55 And if you’re leaving to go after something,
    0:35:57 or if that’s what it looks like,
    0:36:00 then you may not get that love and attention and affection anymore.
    0:36:01 So it made sense to me.
    0:36:04 And over my journey, I lost a lot of friends.
    0:36:07 A lot of friends that I thought we were going to be friends forever,
    0:36:09 just stopped returning my calls.
    0:36:16 Just weren’t as supportive or jealous of my success or whatever it might be.
    0:36:20 And it was sad and it hurt for a long time, these different stages.
    0:36:22 But I learned that’s part of the process.
    0:36:27 If you’re going to grow and others aren’t in alignment with your journey,
    0:36:31 it’s important to find people in your friend circle who support your success
    0:36:34 so they can grow with you as well.
    0:36:37 Another fear that success has with a lot of people is the weight.
    0:36:41 There’s an amazing documentary called The Weight of Gold,
    0:36:47 which is about Olympic gold medalists who commit suicide,
    0:36:51 go through extreme depression, become addicted to drugs
    0:36:53 after they win the gold medal.
    0:36:59 And about all of the suffering that gold medalists have afterwards.
    0:37:02 They were happier before they won the gold medal.
    0:37:06 And it documents the lives of all these people that have committed suicide
    0:37:09 within a year or two after winning gold.
    0:37:13 Going after the gold they had their entire life, they win it.
    0:37:16 And then they die, they commit suicide, become drug addicts,
    0:37:18 they suffer and they lose it all.
    0:37:23 In the documentation, there’s this immense pressure
    0:37:28 that if you are not prepared to handle the fame
    0:37:32 everyone talking about you, the success being at the top of the mountain.
    0:37:38 And now needing to maintain that level of success is an extreme pressure.
    0:37:41 And that’s why you see a lot of people go bankrupt
    0:37:42 after they make a lot of money.
    0:37:45 That’s why you see a lot of lottery winners who make a lot of money
    0:37:49 go through death or go bankrupt as well within a couple of years.
    0:37:54 And you see people that exit big companies sometimes losing it all quickly.
    0:37:59 Because if you’re not emotionally and mentally prepared for the success,
    0:38:00 you will sabotage it.
    0:38:05 That’s why healing past pain is so important.
    0:38:09 Because you can win and succeed and make money,
    0:38:15 but if you have pain in your chest, guilt, shame, insecurity, all these things,
    0:38:18 that doesn’t go away until you heal it.
    0:38:20 And if you heal it on the journey,
    0:38:24 you’re going to be able to sustain the success in a different way and maintain it.
    0:38:27 I wasn’t afraid of those things because I wanted to be successful.
    0:38:28 I wanted the weight.
    0:38:29 I wanted the pressure.
    0:38:31 It was challenging at times, but I wanted it.
    0:38:35 For me, it was the fear of judgment.
    0:38:37 That was the thing that crippled me.
    0:38:40 So when I was successful or growing or whatever,
    0:38:43 and I would get nasty comments online about stuff,
    0:38:47 it was almost as if I had to defend my life with these comments
    0:38:48 and had to reply to everyone.
    0:38:50 And I was so worried about what they would think about me.
    0:38:53 That’s the thing that got me in trouble or crippled me
    0:38:59 until I learned to heal past pains, until I learned to realize I am enough.
    0:39:01 It’s okay.
    0:39:02 People are going to have opinions about me.
    0:39:04 I can’t please everyone.
    0:39:06 I’m not going to conform to everyone’s opinion.
    0:39:08 That was part of the process for me.
    0:39:10 Yeah, I love that.
    0:39:12 This is really, really interesting stuff.
    0:39:16 I feel like I haven’t really heard any material about this fear of success,
    0:39:18 the way that you described it.
    0:39:22 So I know you mentioned that judgment was something that really got to you.
    0:39:26 And I know personally, for me, when people doubt me or say anything bad about me,
    0:39:30 I tend to take like, “I’ll show them, right?
    0:39:30 I’ll do this.
    0:39:32 I’ll become a famous podcaster.
    0:39:36 I’ll start a million-dollar business and prove them wrong.”
    0:39:42 And I kind of used this underdog chip on my shoulder as a way of motivation.
    0:39:46 But I understand from you that that can be pretty unsustainable.
    0:39:48 It can be an amazing driver.
    0:39:50 And it’s what I did my whole life.
    0:39:53 It’s because I was picked last on sports teams.
    0:39:54 And so I said, “I’ll never be picked last again.
    0:39:57 I’m always going to be the most valuable person on every sports team.”
    0:40:03 And it drove me to train six hours a day as a kid and not play video games,
    0:40:06 but go outside and play sports all night until I had to come home
    0:40:09 because I was like, “I’m never going to experience this pain again.
    0:40:11 And I’m going to prove everyone wrong.”
    0:40:13 And I did it.
    0:40:15 I’d proved people wrong.
    0:40:18 And I felt empty, unfulfilled.
    0:40:24 And I felt like exhausted, drained, emotionally frustrated, resentful.
    0:40:28 And all these anger emotions inside of me that continue to drive me
    0:40:32 until 10 years ago, I realized this is not sustainable.
    0:40:34 It got me external results,
    0:40:37 but left me feeling completely emotionally bankrupt.
    0:40:41 And it can only last so long until things fall apart,
    0:40:44 your relationships, your business, something,
    0:40:48 which everything fell apart for me 10 years ago.
    0:40:50 That’s one of the reasons why I got into this show,
    0:40:54 starting this because I was like, “I need to learn how to heal.
    0:40:57 I need to learn how to not be driven by my ego.”
    0:40:59 It’s one of the reasons why I called it the School of Greatness.
    0:41:01 I didn’t call it the Lewis House Show.
    0:41:03 I was like, “My ego needs to die.
    0:41:08 I’m so worried about other people’s opinions and proving people wrong.
    0:41:10 And that’s what’s causing me pain.”
    0:41:14 Sure, that chip got me results and got me credibility
    0:41:16 and got me on stages and helped me make money,
    0:41:21 but why am I emotionally exhausted?
    0:41:23 The ego must die.
    0:41:27 And 10 years ago, I started to kill my ego and not make it about me.
    0:41:29 And I started to put the light on everyone else,
    0:41:32 shine the light on everyone, make it less about me,
    0:41:34 be of service, not about me being successful.
    0:41:37 And it started to shift.
    0:41:39 And by no means did I do it perfectly,
    0:41:41 and I still made mistakes and stumbled along the way,
    0:41:48 but that intention of letting go of my ego allowed me to thrive.
    0:41:51 Now, it’s a dance because in a world of personal branding
    0:41:55 and being a host and being an author and writing books
    0:41:58 and you’re being on the cover of magazines and stuff like this,
    0:42:00 you’ve got to learn to build a brand,
    0:42:05 but not believe that you’re the best thing in the world
    0:42:07 and how to continue to be of service.
    0:42:11 And that’s why I try to focus constantly to remind myself,
    0:42:13 this is not about me and my success.
    0:42:17 This is about us and the service we have on the world.
    0:42:20 And when I do that, I feel a lot more harmony and peace
    0:42:23 than when I say it’s all about me.
    0:42:25 So there’s a dance because in marketing,
    0:42:26 you’ve got to promote things.
    0:42:28 You’ve got to promote yourself.
    0:42:29 You’ve got to promote your name.
    0:42:31 You’ve got to promote your brand.
    0:42:34 But I think internally, you’ve got to remind yourself,
    0:42:35 this is about service.
    0:42:37 Yeah, I totally agree.
    0:42:39 I always say, especially for anybody who wants again
    0:42:42 to the podcast world or develop a personal brand,
    0:42:45 you’ve really got to be of service and have pure intentions.
    0:42:46 It shouldn’t be about making money.
    0:42:48 It shouldn’t be about being famous.
    0:42:51 If you have these pure intentions of helping other people,
    0:42:54 everything falls into place as long as you take the actions.
    0:42:58 We’ll be right back after a quick break from our sponsors.
    0:43:01 Hello, young end-profiters.
    0:43:04 Running a small business means you’re wearing a lot of hats.
    0:43:06 Your personal phone becomes your business phone.
    0:43:09 And before you know it, your juggling calls day and night.
    0:43:10 When I first started YAP,
    0:43:13 I made the mistake of using my personal cell phone
    0:43:15 to handle all of my business inquiries.
    0:43:17 It worked fine at first,
    0:43:19 but as soon as my team and business scaled,
    0:43:22 it became impossible to manage things.
    0:43:24 And that’s where Open Phone comes in.
    0:43:26 Open Phone is the number one business phone system.
    0:43:28 They’ll help you separate your personal life
    0:43:30 from your growing business.
    0:43:33 And for just 15 bucks a month, the cost of a few coffees,
    0:43:35 you get complete visibility
    0:43:38 into everything happening with your business phone number.
    0:43:41 Open Phone works through an app on your phone or your computer,
    0:43:44 and it integrates with HubSpot and hundreds of other systems.
    0:43:47 They use AI-powered call transcripts and summaries.
    0:43:50 So what that means is that you get a summary of your phone call
    0:43:52 and action items as soon as you hang up.
    0:43:54 And if you miss a call,
    0:43:57 automated messages are sent directly to your customer.
    0:43:59 Open Phone is affordable, it’s easy to use,
    0:44:01 and whether you’re one person operation
    0:44:04 and you just need help managing your own calls,
    0:44:05 or you’ve got a large team
    0:44:08 and you’re looking for more efficient collaboration,
    0:44:11 Open Phone is the solution for you.
    0:44:14 Right now, Open Phone is offering 20% off your first six months
    0:44:17 when you go to openphone.com/profiting.
    0:44:20 That’s O-P-E-N-P-H-O-N-E.com/profiting
    0:44:23 for 20% off the first six months.
    0:44:25 That’s openphone.com/profiting.
    0:44:28 And by the way, if you have an existing number with another service,
    0:44:32 Open Phone will port them over at no extra charge.
    0:44:34 That’s openphone.com/profiting.
    0:44:42 So I want to talk about identity for a minute.
    0:44:46 So you talk about this idea of establishing an identity.
    0:44:48 I think we’ve both interviewed Benjamin Hardy,
    0:44:50 and he talks about this idea of future self.
    0:44:52 And that was one of my favorite conversations
    0:44:54 that I’ve had all year.
    0:44:56 You’re not your past self, you’re not your future self.
    0:44:59 You just have this current moment to take action
    0:45:01 and close that gap between who you are now
    0:45:04 to who you want to be, your future self.
    0:45:06 So talk to us about this idea of identity
    0:45:07 that you bring up in your book
    0:45:09 and what your thoughts are around that.
    0:45:12 Yeah, just last night I was doing a session with my therapist.
    0:45:18 And the conversation was, what do I want my 50 and 60-year-old self,
    0:45:24 90 and 100-year-old self to say to me right now
    0:45:27 about the decisions I’ve been making on a daily basis?
    0:45:30 Because I’ve been very focused on my health
    0:45:33 and almost making it a full-time job.
    0:45:36 Not in the sense of I’m spending 10 hours a day on my health,
    0:45:41 but I’m thinking and intending it to be optimized
    0:45:45 in the level that I’ve never fully done in the last 10 years.
    0:45:47 Now, I’ve also been a professional athlete
    0:45:48 and I’ve trained hard and all these things,
    0:45:51 but just being very intentional about nutrition,
    0:45:54 sleep, recovery, working out,
    0:45:58 and tracking and measuring it in a different way than I have before.
    0:46:03 And I was having a conversation with my, I’m 40 now,
    0:46:07 and I was having a conversation with myself as my 50-year-old.
    0:46:10 So I don’t know if you can go stay with me for a moment,
    0:46:13 but I was in the future having a conversation
    0:46:15 with my current self at 50 today.
    0:46:18 Then I went in the future at 60
    0:46:20 and I had a conversation with myself today.
    0:46:24 Then I went to 90 and 100 and I told myself
    0:46:30 and I imagined the feeling that I had as 50, 60, 90, and 100
    0:46:34 and the appreciation I was telling myself today
    0:46:37 for how I was taking care of my health.
    0:46:42 Because at 50, at 60, I’m still able to work out
    0:46:46 like a 30-year-old and I’m flexible and I’m strong
    0:46:49 and I’m running marathons and I’m lifting heavy weights
    0:46:52 and I’ve got muscle and I’m flexible and all these things.
    0:46:56 I’ve got all the capacities as a 30-year-old at 50 and 60.
    0:47:01 At 90 and 100, I was saying thank you for taking care of me
    0:47:06 at 90 and 100 today at 40 by making these decisions.
    0:47:09 Because look at us, there’s sadness all around us,
    0:47:13 unfortunately, because your friends are dying.
    0:47:16 Your friends are getting hip replacements.
    0:47:19 But you took care of us when it was uncomfortable,
    0:47:22 when it was challenging, when it was hard, when it wasn’t easy.
    0:47:29 You said you were thinking about me and us at 90 and 100.
    0:47:31 So I was having these conversations with myself
    0:47:36 last night doing these exercises which allows me to be intentional
    0:47:40 about my decisions today, to not be so strict and hard on myself,
    0:47:43 but to be really intentional and deliberate
    0:47:46 about how I want to feel in the future.
    0:47:50 And I was having this multi-time dimensional conversation
    0:47:54 with self from the future and now all last night.
    0:47:58 And I just think that’s an important strategy or exercise
    0:48:01 that we should be thinking about our futures
    0:48:05 and making decisions today based on what will make our future self proud.
    0:48:10 Yeah. Okay. One more last question about your new book.
    0:48:15 And that’s how you recommend to get over trauma and heal yourself.
    0:48:17 So I know that you went through a lot of personal trauma.
    0:48:20 You were bullied a little bit when you were younger.
    0:48:24 You had some sexual abuse that you mentioned.
    0:48:26 Your dad was gone to a bad car accident.
    0:48:28 Probably things we don’t even know about.
    0:48:31 Everybody has had traumas in their life.
    0:48:34 So how did you actually rewrite the script of your life?
    0:48:37 What are the things that you did to heal your past trauma?
    0:48:42 I feel like I keep doing lots of different exercises,
    0:48:45 events, workshops, therapies.
    0:48:47 I’m willing to try lots of stuff.
    0:48:49 And what I originally did was 10 years ago,
    0:48:51 I just started opening up about it.
    0:48:53 I started talking about these things.
    0:48:58 I think the first step is finding a safe environment and space to be able to share.
    0:49:01 And I’m not saying you need to post about things on social media.
    0:49:04 I don’t think that’s wise until you feel like,
    0:49:06 “Oh, I feel like I really want to do this for whatever reason.”
    0:49:12 But finding spaces and people that you trust to talk to about your shames.
    0:49:16 And that’s the first step is allowing it to get out of you,
    0:49:19 allowing the poison to get out of you.
    0:49:24 And then there’s lots of different somatic physical healing therapies
    0:49:28 and things like that and emotional therapies and retreats and workshops.
    0:49:29 And they’re all great, I think.
    0:49:35 Like anything you do, if you go all in on it, I think you’ll get some results.
    0:49:38 If you’ve seen other people do it that recommend it and they’ve got results,
    0:49:42 as long as you go all in on the therapeutic experience,
    0:49:44 I think it will be serving to you.
    0:49:47 I’ve never personally done drugs or psychedelics.
    0:49:49 I’ve never been drunk or high in my life.
    0:49:52 So I don’t prescribe just something that I haven’t done,
    0:49:56 but I have friends that swear by psychedelics.
    0:50:00 I’m more afraid of the side effects that the brain chemistry has
    0:50:03 based on the people I’ve interviewed who are experts in the brain
    0:50:06 that I get worried about that stuff for long term.
    0:50:09 But I think if you have tried everything
    0:50:11 and you feel like you’re not getting any results,
    0:50:16 then that might be your last resort to allow your mind to relax and open up.
    0:50:17 But I think there’s a lot of things you could do.
    0:50:19 And it’s worth exploring different things.
    0:50:23 Okay. So just circling back on the perfect day itinerary,
    0:50:27 you say this is a great way to ensure that you have a greatness mindset throughout the day.
    0:50:28 Can you tell us about it?
    0:50:30 Yeah, there’s really two parts to it.
    0:50:36 It’s one, imagining and visualizing what you would like to experience on a perfect day.
    0:50:39 If you could close your eyes and think about it at some point in your life,
    0:50:41 what would this look like?
    0:50:45 What would this feel like a day in a life that you feel like, wow,
    0:50:51 when you shut your eyes to go to bed, you said that was a perfect day.
    0:50:54 From every moment to moment, from the moment you wake up,
    0:50:56 where are you waking up?
    0:50:58 What do you see first thing when you wake up?
    0:51:02 What area of the world are you living when you wake up?
    0:51:04 Is there someone next to you?
    0:51:05 If so, what does that feel like?
    0:51:11 So putting yourself in an emotional state of all five senses,
    0:51:14 imagining that perfect day scenario.
    0:51:16 And obviously, if you did the same thing every day,
    0:51:18 it wouldn’t be perfect anymore.
    0:51:21 But just imagine what that experience that feeling would be like.
    0:51:24 And then writing it down.
    0:51:31 Writing it down what that dream is like, that experiential feeling is like.
    0:51:35 Writing it down in detail and description is part one.
    0:51:38 Part two is flipping the page over and scheduling it.
    0:51:45 Something I learned early on when I was 15, I joined the football team for the first time.
    0:51:49 Day one in my locker was a piece of paper hanging up on my locker
    0:51:53 and every kid’s locker that was the itinerary for practice.
    0:51:56 And I’m thinking, I’m just going to go out there and kind of run around
    0:51:58 and just we got drills.
    0:52:04 But every five minutes was scheduled from putting on our pads to water breaks,
    0:52:11 to coaches giving us talking and giving us speeches, to stretch breaks,
    0:52:16 to offense, defense, special teams, to individual practice time.
    0:52:18 Every minute was detailed.
    0:52:22 It made sense because it allowed us to prepare and put attention
    0:52:28 on all the things to become great as a team and have the perfect game
    0:52:34 to excel in the perfect way when game time happened at the end of the weeks.
    0:52:39 And so I think when we get intentional about our schedule and our time
    0:52:44 and we marry it with the vision and the experience of the senses,
    0:52:48 we can take action on the perfect day almost every day.
    0:52:51 And it’s just figuring out how to work into that,
    0:52:53 how to work into that experience and that feeling.
    0:52:57 And there’s, again, different seasons and stages of my life that didn’t feel perfect.
    0:53:00 I was a truck driver for three months, driving eight hours a day.
    0:53:03 I did a lot of different odd end jobs at different times.
    0:53:06 It’s figuring out, okay, how can I build into it?
    0:53:09 How can I use my gifts and my talents at this time to enjoy this,
    0:53:11 to experience something beautiful?
    0:53:15 And then if this is not for me right now, what can I step into next?
    0:53:18 What’s the next season to get closer to that perfect day?
    0:53:19 And that’s what it’s about.
    0:53:22 Yeah. Well, thank you so much, Lewis.
    0:53:24 This was such a great interview.
    0:53:26 I end my show with two questions.
    0:53:30 The first one is, what is one actionable thing our young and
    0:53:33 profiteers can do today to become more profitable tomorrow?
    0:53:35 Focus on gratitude.
    0:53:44 I just think that gratitude is a universal energetic law that allows you to open the
    0:53:46 doorway for abundance.
    0:53:53 When we are grateful and we experience gratitude continuously, our energy shifts around us.
    0:53:57 Our attitude, our perspective, our way of being shows up differently.
    0:54:03 And people are attracted to others who are positive, who are kind, who are generous,
    0:54:04 and who are grateful.
    0:54:09 We aren’t attracted to people who are ungrateful and frustrated and negative.
    0:54:10 That’s not an attractive quality.
    0:54:16 When you express gratitude from the inside out, people gravitate towards you.
    0:54:23 And you will create more opportunities, whether it’s in your career, you’ll advance further.
    0:54:26 Or if you’re starting a business, it will be more effortless feeling.
    0:54:31 And you’ll attract more abundance in the journey.
    0:54:34 I completely, completely agree with that.
    0:54:38 And the last question is, what is your secret to profiting in life?
    0:54:41 And this could be beyond financial, beyond anything we talked about today.
    0:54:44 It just goes back to healing.
    0:54:49 I know a lot of wealthy people who are miserable internally, or who are sick,
    0:54:55 or who are physically overweight and struggling, because they have yet to heal.
    0:54:59 And you could build the business and make all the money and have all the,
    0:55:06 the, and know all the celebrities and get in all the press and have the biggest following.
    0:55:13 But if you are sick emotionally, or unwell, and you have yet to heal the things that cause
    0:55:16 you the most pain, then you’re really living in a powerless state.
    0:55:22 And having it all, but feeling powerless internally, is one of the greatest prisons
    0:55:26 we can be in psychologically, because you don’t know what else to do.
    0:55:32 You’ve done everything to become more successful and make more money and accomplish,
    0:55:33 but you still don’t feel enough.
    0:55:38 And for me, that’s a, that’s a prison sentence psychologically.
    0:55:42 And until we heal, we will never feel enough.
    0:55:44 And anybody who’s feeling that way,
    0:55:48 Lewis basically wrote the playbook of how to get out of it with this new book,
    0:55:48 The Greatness Minds On.
    0:55:50 So make sure you guys go get that.
    0:55:52 And where can our listeners go learn about everything that you do?
    0:55:57 Lewis Howes, anywhere on social media, and the School of Greatness podcast.
    0:56:00 Awesome. Well, thank you so much for your time today, Lewis.
    0:56:01 It was a pleasure.
    0:56:09 Thanks, Hala.
    0:56:13 You.
    0:56:15 (upbeat music)
    0:56:24 [BLANK_AUDIO]

    As a senior in college and an All-American athlete, Lewis Howes had it all, until he received some life-changing news. The night before a big football game, Lewis’s father got into a car accident that left him in a traumatic coma. When his dad could no longer guide him, Lewis started seeking new mentors. He began reaching out to highly accomplished people asking for the stories of their success. The people he met gave him a new direction, new inspiration, and new hope. In this episode, Lewis will talk about his book The Greatness Mindset and what he’s learned from hundreds of conversations with some of the most inspiring and successful individuals on the planet. 

    In this episode, Hala and Lewis will discuss: 

    (00:00) Introduction  

    (01:35) How to Heal From Past Trauma  

    (04:29) How Lewis Leveraged LinkedIn to Get His Foot in the Door  

    (06:22) Defining Your Meaningful Mission  

    (08:24) How to Promote Multi-Channel Podcasts  

    (11:14) Finding Your Sweet Spot for Success  

    (17:52) What Sports Taught Lewis About Failure  

    (19:29) Overcoming Fear of Failure and Judgment  

    (27:32) Building a Future Self That Inspires You  

    (34:19) Developing a Greatness Mindset  

    (38:43) Why Gratitude Unlocks Abundance  

    Lewis Howes is a New York Times bestselling author of the hit book, The School of Greatness. He is a lifestyle entrepreneur, high-performance business coach, and keynote speaker. A former professional football player and two-sport All-American, Lewis hosts a top 100 iTunes-ranked podcast, The School of Greatness. He was recognized by The White House and President Obama as one of the top 100 entrepreneurs in the country under 30. Lewis is a contributing writer for Entrepreneur and has been featured on Ellen, The Today Show, The New York Times, People, Forbes, Inc, Fast Company, ESPN, Sports Illustrated, Men’s Health, and other major media outlets.

    Connect with Lewis:

    Website: lewishowes.com/about

    LinkedIn: linkedin.com/in/lewishowes 

    Twitter: twitter.com/LewisHowes 

    Instagram: instagram.com/lewishowes

    Tiktok: tiktok.com/@lewis 

    Sponsored By: 

    OpenPhone – Get 20% off 6 months at https://www.openphone.com/PROFITING 

    Airbnb – Your home might be worth more than you think. Find out how much at airbnb.com/host

    Resources Mentioned:

    Lewis’s Podcast, The School of Greatness: https://apple.co/4iUL4jB 

    Lewis’s Book, The Greatness Mindset: Unlock the Power of Your Mind and Live Your Best Life Today: https://amzn.to/41HLPGj 

    Top Tools and Products of the Month: https://youngandprofiting.com/deals/ 

    More About Young and Profiting

    Download Transcripts – youngandprofiting.com

    Get Sponsorship Deals – youngandprofiting.com/sponsorships

    Leave a Review – ratethispodcast.com/yap

    Watch Videos – youtube.com/c/YoungandProfiting

     

    Follow Hala Taha

    LinkedIn – linkedin.com/in/htaha/

    Instagram – instagram.com/yapwithhala/

    TikTok – tiktok.com/@yapwithhala

    Twitter – twitter.com/yapwithhala

     

    Learn more about YAP Media’s Services – yapmedia.io/

  • YAPCreator: How to Stay Motivated and Avoid Burnout as a Content Creator | Presented by OpusClip

    AI transcript
    0:00:03 Today’s episode is sponsored in part by Airbnb,
    0:00:05 OpenPhone, Shopify, and Rocket Money.
    0:00:08 Hosting on Airbnb has never been easier
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    0:00:14 Find yourself a co-host at Airbnb.com/host.
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    0:00:18 Build stronger customer relationships
    0:00:22 and respond faster with shared numbers, AI, and automations.
    0:00:24 Get 20% off of your first six months
    0:00:27 when you go to openphone.com/profiting.
    0:00:30 Shopify is the global commerce platform
    0:00:31 that helps you grow your business.
    0:00:34 Sign up for a $1 per month trial period
    0:00:36 at Shopify.com/profiting.
    0:00:38 Rocket Money is a personal finance app
    0:00:41 that helps find and cancel your unwanted subscriptions,
    0:00:44 monitors your spending, and helps lower your bills
    0:00:45 so you can grow your savings.
    0:00:49 Sign up for free at RocketMoney.com/profiting.
    0:00:51 As always, you can find all of our incredible deals
    0:00:55 in the show notes or at youngandprofiting.com/deals.
    0:00:58 (upbeat music)
    0:01:08 – Hello, young and profitors.
    0:01:11 Welcome to episode three of the Yap Creator series
    0:01:13 presented by Opus Clip.
    0:01:14 In this series, we’re diving deep
    0:01:17 into the art and science of content creation,
    0:01:20 how to create, connect, and thrive as a modern day creator.
    0:01:21 It’s the start of the year
    0:01:23 and it’s time for goal setting for everyone.
    0:01:26 And in order to achieve our goals in 2025,
    0:01:29 we need to stay motivated and consistent
    0:01:30 while not burning ourselves out.
    0:01:34 And that’s exactly what today’s episode is all about.
    0:01:36 While this episode is tailored toward content creators,
    0:01:39 it’s actually relevant for all entrepreneurs
    0:01:42 because it’s really just about mindset, motivation,
    0:01:43 and building up momentum,
    0:01:47 whether you’re building an online platform or your company.
    0:01:48 We’ll feature past Yap guests,
    0:01:51 Jenna Kutcher, Jeff Hayden, James Clear,
    0:01:54 Dr. Editi Norokar, Jasmine Star, Benjamin Hardy,
    0:01:56 and Case Kenny.
    0:01:58 Guys, this one is gonna get pretty deep.
    0:02:00 We’re gonna cover everything from motivation loops
    0:02:03 to habit building and gap and gain thinking.
    0:02:05 There’s so much content to get to,
    0:02:06 so let’s jump right into it.
    0:02:13 Starting out as a content creator is no small feat.
    0:02:15 You’re juggling everything, coming up with ideas,
    0:02:17 filming, editing, and promoting,
    0:02:20 all while trying to grow an audience.
    0:02:21 In the beginning, it can feel like you’re shouting
    0:02:25 into a void, and that can be incredibly discouraging.
    0:02:28 The truth is, consistency builds credibility.
    0:02:31 Every post, video, or podcast you put out
    0:02:34 is another brick in the foundation of your personal brand.
    0:02:36 But in order to be consistent,
    0:02:38 you first need to get started.
    0:02:40 Here’s Jenna Kutcher, one of the most successful podcasters
    0:02:44 in the world, who is also in my Yap Media podcast network
    0:02:46 on letting go of perfection and taking action
    0:02:49 when it comes to getting started as a content creator.
    0:02:55 At the beginning, my show was interview only,
    0:02:57 which did not work out well for me.
    0:02:59 I recorded it from the front seat of my parked car
    0:03:02 in my garage, ’cause I was afraid my dogs were gonna bark.
    0:03:03 I didn’t even own a microphone.
    0:03:05 I had iPhone headphones, and I was like,
    0:03:06 “All right, let’s just do this.”
    0:03:09 And so I committed to doing it for 90 days,
    0:03:11 and I was like, “Let’s just see how it feels.
    0:03:13 “I can always quit it if it doesn’t work,
    0:03:15 “if I run out of things to say.”
    0:03:17 And here we are years and years and years later,
    0:03:20 and it’s evolved, and I think one lesson from this
    0:03:22 is that so often when we start a new project,
    0:03:25 we overthink all the things that don’t really matter.
    0:03:29 I remember worrying about like the cover art, the title,
    0:03:31 how am I gonna sign in and sign off of every episode?
    0:03:32 How long is it gonna be?
    0:03:33 What is the format?
    0:03:35 When is it gonna be published?
    0:03:37 All of those things have changed and evolved
    0:03:38 over the last seven years,
    0:03:41 and my show has stayed consistent, right?
    0:03:43 And so one thing that you brought up
    0:03:46 is like so many people don’t actually dive in
    0:03:47 and do the thing.
    0:03:49 We think about all the things around the thing,
    0:03:51 whether you’re writing a book or starting a podcast
    0:03:52 or starting a business,
    0:03:55 you fixate on all the decisions you have to make
    0:03:57 instead of doing the actual thing,
    0:04:00 which in my case was sitting down and hitting record.
    0:04:02 Once I did that, the rest is history,
    0:04:05 but it was so easy for us to overthink all those things.
    0:04:07 So my podcast started as an experiment,
    0:04:10 and we’re still going strong 100 million downloads later.
    0:04:14 (whooshing)
    0:04:15 Like Jenna said,
    0:04:17 when it comes to getting started as a content creator,
    0:04:20 whether it’s on social media or podcasts,
    0:04:23 you really need to just get started and experiment.
    0:04:27 It’s okay to evolve over time and get better as you go.
    0:04:28 To be a content creator,
    0:04:30 you must create content consistently.
    0:04:33 I find that if I’m having trouble getting started
    0:04:34 on something, I just tell myself,
    0:04:36 I’ll do it for 10 minutes.
    0:04:37 Before I know it,
    0:04:40 that initial ick and anxiety of getting started
    0:04:43 just melts away and the task seems more manageable
    0:04:46 once I actually dig into it for 10 minutes.
    0:04:47 It’s not as scary anymore,
    0:04:51 and I end up working on it for longer and getting it done.
    0:04:53 So just start for 10 minutes,
    0:04:57 tell yourself I’ll just do it for 10 minutes.
    0:04:59 Now, getting started is easier said than done
    0:05:00 for a lot of people.
    0:05:03 So many people feel that they can’t get the motivation
    0:05:04 to get started.
    0:05:06 They need to find the motivation
    0:05:08 to kick themselves into high gear,
    0:05:10 but this is the wrong way to go about it.
    0:05:12 I learned from Jeff Hayden,
    0:05:14 one of the world’s top ghost writers,
    0:05:16 that getting started is the thing
    0:05:19 that will actually give you the motivation to keep going.
    0:05:21 Contrary to popular belief,
    0:05:24 motivation doesn’t come first, effort does.
    0:05:27 Let’s hear Jeff’s perspective on creating motivation.
    0:05:34 So talk to us about how you can actually create motivation
    0:05:38 by starting and being consistent at something.
    0:05:40 Probably the biggest gap,
    0:05:42 or the biggest hurdle that people have to cross
    0:05:44 when you wanna start something new
    0:05:49 is you are starting at a place of no experience,
    0:05:50 no expertise.
    0:05:53 You’re kind of at the zero spot in most cases.
    0:05:55 And so if you look ahead to where you want to go,
    0:05:58 that bridge that you have to cross is incredibly daunting
    0:06:01 because it’s like, okay, I’m just this.
    0:06:02 How am I going to get all the way over there?
    0:06:07 And so if you’re constantly focused on that end place,
    0:06:10 then even little successes that you make early on,
    0:06:11 which you tend to do because you’re new,
    0:06:15 so you learn quickly and you gain some skill fairly fast,
    0:06:17 they’re meaningless to you
    0:06:20 because compared to what you think you wanna be someday,
    0:06:21 well, it’s nothing.
    0:06:25 And so the biggest thing for me is,
    0:06:27 ’cause I struggled with the first few things I wrote,
    0:06:30 but then I thought, and I would think to myself,
    0:06:32 how am I ever going to be able to do this?
    0:06:34 Because it takes me way too long.
    0:06:37 I’m creating decent things, but gosh, it takes forever.
    0:06:39 And there’s no way for me to make this work.
    0:06:42 And I thought, well, okay, but I can’t sit down
    0:06:44 and think, okay, I’m going to be Malcolm Gladwell tomorrow
    0:06:46 or something like that.
    0:06:48 But what I can do is just work really hard
    0:06:50 on whatever is in front of me.
    0:06:53 And so I switched over and just said,
    0:06:56 my goal, every time I do something is,
    0:06:57 all right, I have this to do.
    0:06:59 I need to do it as well as I can.
    0:07:01 I need to finish it.
    0:07:02 I need to get good feedback from it,
    0:07:04 which means I did a good job.
    0:07:07 ‘Cause whether I thought I did a good job didn’t really matter.
    0:07:09 It’s what the client thought.
    0:07:12 And that’s all I can do right now, but that’s enough.
    0:07:16 And so if I stack enough of those experiences up,
    0:07:18 then the experience kind of comes.
    0:07:21 And so by keeping a short time horizon
    0:07:24 in terms of my inner feedback loop,
    0:07:26 then if I worked on a project one night
    0:07:29 and it was a short one and I got it done,
    0:07:31 that felt really good because I set out to do
    0:07:32 what I wanted to do.
    0:07:34 I completed a task.
    0:07:35 It went well.
    0:07:38 That was enough to get me to the next one.
    0:07:40 And so I just fell into this place
    0:07:43 of all I need is enough motivation to get to the next one.
    0:07:46 And if I get to the next one and I get to the next one,
    0:07:49 then suddenly you can look back and go,
    0:07:51 wow, I’m starting to come a long way.
    0:07:54 ‘Cause you pop your head up every once in a while
    0:07:56 and sort of look at where you are and go, wow,
    0:07:57 that is really cool.
    0:07:59 And then you need to put your head right back down again
    0:08:02 and just focused on next and next and next.
    0:08:06 And so, and then the other part of it is that
    0:08:08 I’m not particularly smart.
    0:08:11 I have a college degree, but I’m not particularly educated.
    0:08:12 It’ll have anything.
    0:08:14 There’s nothing, I’m decidedly average.
    0:08:15 Let’s just say that.
    0:08:16 So I don’t have anything.
    0:08:17 – I don’t think that’s true, but okay.
    0:08:19 – Well, I don’t have anything special going for me
    0:08:22 except for the fact that I realize that
    0:08:24 if I put in enough effort,
    0:08:25 there are a lot of things I can do.
    0:08:29 And so I’m very much an effort kind of a person.
    0:08:32 And so that actually works really well
    0:08:36 because I don’t think you get motivation from like this.
    0:08:37 I’m sitting around one day
    0:08:39 and suddenly I have the lightning bolt that says,
    0:08:42 I want to be a famous writer or something,
    0:08:43 whatever it is you want to be.
    0:08:45 I don’t, that doesn’t work.
    0:08:47 I don’t think that kind of motivation.
    0:08:49 I don’t know anybody that has that.
    0:08:52 All you really need is to say, I’m interested in writing.
    0:08:55 Let me get started in some fashion
    0:08:58 and through effort, if you work hard at it,
    0:09:01 you improve because we always get better
    0:09:02 at things we work hard at.
    0:09:04 It is a natural thing.
    0:09:05 It’s just like taxes.
    0:09:07 It’s a law of the universe.
    0:09:10 And whenever you get a little better, that feels good.
    0:09:14 And so effort equals a little bit of achievement,
    0:09:18 which feels good, which creates motivation
    0:09:20 for you to take a little more effort,
    0:09:22 which means you’ll improve a little more,
    0:09:23 which feels good.
    0:09:26 And so there’s this really cool virtuous cycle
    0:09:29 of effort, achievement, fulfillment, happiness,
    0:09:33 motivation that you can spend forever and ever and ever
    0:09:35 if you focus on doing it that way.
    0:09:39 All you care about is this big end result.
    0:09:40 It’s demoralizing and defeating
    0:09:43 and you have to rely on willpower alone.
    0:09:46 And none of us have enough willpower to do that.
    0:09:49 But if you just get that cycle started, there it is.
    0:09:52 So to be a motivation, does it come first?
    0:09:53 Effort comes first.
    0:09:54 – I love that.
    0:09:56 So let me pause you right there because I wanna make sure
    0:09:57 that my listeners really understand this.
    0:10:01 So what Jeff is saying is that you don’t wanna focus
    0:10:05 on some big goal because you’ll keep comparing yourself
    0:10:06 to that goal.
    0:10:07 You’re gonna think about where you are now,
    0:10:10 how far away that goal is, you’re gonna feel bad.
    0:10:12 And you don’t wanna feel bad if you wanna be motivated.
    0:10:13 You wanna feel good.
    0:10:16 So you wanna focus on these small wins.
    0:10:19 So how can we better focus on these small wins?
    0:10:21 Is there a trick that we need to do?
    0:10:23 Is it something we need to reflect on every day?
    0:10:26 How do we make sure that we’re constantly looking
    0:10:27 at these small goals and making sure
    0:10:30 that we’re making progress toward our bigger goal?
    0:10:33 – So process really is everything
    0:10:35 with anything that you want to do.
    0:10:38 So you do need a big goal, I think.
    0:10:41 But your goal, your big goal is just there
    0:10:45 to help you design the process that you would use
    0:10:46 in order to get there.
    0:10:49 So if I, this is a terrible,
    0:10:52 it’s not a terrible example, but it’s an easy example.
    0:10:55 Say you wanna run a marathon and you’ve never run before.
    0:10:58 So running the marathon is your big goal.
    0:11:00 But as you said, if that’s all you focus on
    0:11:03 is being able to run 26 miles and you can only run one,
    0:11:05 you’re gonna quit because it’s too far.
    0:11:07 And you feel bad after that one mile,
    0:11:08 you’re never gonna get there.
    0:11:12 So running a marathon, though, you can back it up
    0:11:15 and say, okay, what are the steps and stages
    0:11:17 that I’m going to have to go through
    0:11:20 in order to build up the endurance and stamina
    0:11:21 and speed and all that other stuff
    0:11:22 that will allow me to get there.
    0:11:25 And there are plenty of people in the world
    0:11:27 who can lay that program out for you.
    0:11:29 So you know what to do.
    0:11:33 So the goal informs the process.
    0:11:35 Then you just say, okay, I’ve got a whatever it is,
    0:11:38 six month plan, what’s tomorrow?
    0:11:42 Tomorrow is I’m gonna go run a mile and a half.
    0:11:44 Cool, when you run the mile and a half,
    0:11:46 you can check it off, you get to feel good about yourself
    0:11:49 because you did what you set out to do that day,
    0:11:51 which if you think about it at the end of the day,
    0:11:52 the days you feel best about yourself
    0:11:55 or when you got done the things that you said you wanted to do,
    0:11:57 where you feel bad is when you didn’t.
    0:12:01 So you get to feel good about it, you checked it off,
    0:12:02 you had a successful day,
    0:12:05 that will give you enough motivation to tomorrow go,
    0:12:07 okay, what’s tomorrow?
    0:12:10 Whatever it is, that’s all you have to do.
    0:12:12 You just have to do whatever it is
    0:12:13 that you have to do today.
    0:12:17 And if you focus on that, you get to be successful every day,
    0:12:19 you get to feel good about yourself every day,
    0:12:22 and you will stack up enough of those days
    0:12:24 that every once in a while, you will pop your head up
    0:12:27 and say, wow, I just did a 10 mile run.
    0:12:29 Who thought I could do that?
    0:12:31 But before you get too excited and go,
    0:12:34 oh, what about the 26, you gotta put your head back down.
    0:12:36 ‘Cause you’re not there yet.
    0:12:39 And then you say, cool, I can run 10 miles, that’s awesome.
    0:12:40 What’s tomorrow?
    0:12:41 Tomorrow may only be a three mile run
    0:12:43 because that’s part of your process of recovery
    0:12:45 and whatever else it may be.
    0:12:48 Whatever it is, if you’re doing what you set out
    0:12:50 to do that day, and if that goal is,
    0:12:52 or if that process is designed
    0:12:55 so that it will basically guarantee
    0:12:58 that if you put in the effort, you will succeed,
    0:12:59 you’re good to go.
    0:13:01 So the goal informs the process,
    0:13:03 and then all you worry about is am I doing
    0:13:05 what I need to do each step of the way?
    0:13:07 You didn’t start a side hustle
    0:13:10 and end up with 35 people working for you
    0:13:13 by one day just saying, you know, that’s what I wanna do.
    0:13:15 You knew you wanted to create a marketing agency
    0:13:18 and you knew what you wanted to do,
    0:13:20 but you broke it down into, okay,
    0:13:21 but what can I do right now?
    0:13:24 What am I doing each day to get there?
    0:13:28 And then all of those wins stacked up on themselves
    0:13:29 and probably made it a little bit easier
    0:13:31 for you to keep working that hard
    0:13:34 because you saw a path to where you were going to go.
    0:13:40 – What Jeff told me that day about motivation,
    0:13:41 really stuck with me.
    0:13:43 The conventional view of motivation
    0:13:45 is if you fire somebody up enough,
    0:13:46 they’re gonna go out and achieve
    0:13:48 whatever their target is.
    0:13:50 Traditionally, they say achieving success
    0:13:53 is all about generating the right mindset
    0:13:57 and that motivation will trigger you to succeed basically.
    0:13:58 But Jeff overturns this idea
    0:14:01 that motivation leads to success.
    0:14:03 Instead, he tells us that small successes
    0:14:05 lead to constant motivation.
    0:14:08 Jeff believes that motivation is a result.
    0:14:10 It’s not the spark or trigger
    0:14:12 that gets you started on your next project.
    0:14:15 Real motivation comes after you start.
    0:14:17 Motivation is the pride you take
    0:14:18 in the work you’ve already done,
    0:14:20 which fuels you to do even more.
    0:14:24 Motivation stems from success and fuels more success.
    0:14:26 So the only thing you need to do to succeed
    0:14:29 is to have one small victory to get ahead start.
    0:14:31 Then you just follow that loop.
    0:14:33 Jeff calls this the motivation cycle
    0:14:35 or the motivation feedback loop.
    0:14:37 The cycle goes something like this.
    0:14:39 A small success leads to some motivation,
    0:14:42 which leads to another success and even more motivation,
    0:14:45 which leads to another success and even more motivation
    0:14:47 and you get the idea.
    0:14:50 That’s why motivation isn’t something you have.
    0:14:52 Motivation is something you get from yourself
    0:14:54 after you take action.
    0:14:57 Okay, so to be a successful content creator,
    0:14:59 you need to create content consistently.
    0:15:01 You need to take action.
    0:15:03 And that means you need to get into the habit
    0:15:05 of creating content.
    0:15:07 The keyword here is habit.
    0:15:10 And many of you know that I’m one of the top LinkedIn creators
    0:15:12 and I’ve been an influencer on that platform
    0:15:14 for over five years now.
    0:15:16 And I remember when I first started
    0:15:18 my content creator journey on LinkedIn,
    0:15:20 I was working a full-time job
    0:15:23 and I also started this podcast as a side hustle.
    0:15:25 So I basically had two jobs,
    0:15:27 a full-time job and a part-time job with this side hustle.
    0:15:31 And now I was taking on LinkedIn as a third part-time job.
    0:15:34 So I really didn’t have a lot of free time.
    0:15:36 And I decided that I would make it a habit
    0:15:38 to create my LinkedIn post on the train
    0:15:40 on my commute to work.
    0:15:42 So I had a 45-minute commute to work
    0:15:44 and that was my only job on the train.
    0:15:46 I didn’t do anything else.
    0:15:48 My job was to post on LinkedIn,
    0:15:50 to decide what I was gonna post,
    0:15:52 to write up the caption, to pick out my image,
    0:15:55 to post the content up before I stepped into the office.
    0:15:59 Sometimes it also required me to film a video
    0:16:01 while I was waiting for the train.
    0:16:03 And then during lunch and on my commute home,
    0:16:06 I would do all my comment and DM engagement.
    0:16:10 And then I did the same routine five times a week
    0:16:13 as a habit every single weekday.
    0:16:16 And within a year, I acquired 60,000 followers on LinkedIn
    0:16:18 and I became an influencer.
    0:16:20 And fast forward to today, I still post daily
    0:16:22 while my habits are different.
    0:16:26 I have over 260,000 followers on LinkedIn
    0:16:29 and I’m recognized as a top voice on that platform.
    0:16:32 So small habits can make a big difference.
    0:16:34 And nobody aligns to this more than James Clear,
    0:16:37 author of the bestselling book, Atomic Habits.
    0:16:43 So the heart of your book, Atomic Habits,
    0:16:48 is that the idea that small habits can make a big difference.
    0:16:49 Why don’t we start there?
    0:16:50 Why do you believe that’s true?
    0:16:53 – Time will magnify whatever you feed it.
    0:16:55 So if you have good habits,
    0:16:58 even if they’re little and seem relatively minor
    0:16:59 on any given day,
    0:17:01 you’ll continue to put yourself
    0:17:03 in a stronger position day after day.
    0:17:04 In many ways, if you have good habits,
    0:17:05 you’re on the right trajectory.
    0:17:08 And so all you need is time, you just need some patience.
    0:17:11 But if you have bad habits, time becomes your enemy.
    0:17:12 And every day that goes by,
    0:17:14 you kind of dig the hole a little bit deeper.
    0:17:17 And so this idea that small habits
    0:17:18 can make an enormous difference,
    0:17:20 what it really is about,
    0:17:25 is about emphasizing trajectory rather than position.
    0:17:28 There’s a lot of discussion about position in life,
    0:17:30 how much money’s in your bank account?
    0:17:32 What’s the current number on the scale?
    0:17:33 What’s the stock price?
    0:17:34 What are the quarterly earnings?
    0:17:35 We have like all these ways
    0:17:38 of measuring your current position.
    0:17:41 And then if the measurement isn’t what you wanted it to be,
    0:17:43 or you haven’t achieved what you set out to achieve,
    0:17:45 you kind of start judging yourself
    0:17:48 or feeling guilty for it, or you feel bad about it.
    0:17:50 And what I’m encouraging is to say,
    0:17:51 listen, just for a minute,
    0:17:55 let’s stop worrying so much about our current position,
    0:17:56 and instead focus a little bit more
    0:17:58 on our current trajectory.
    0:18:00 And this is why one of the key things I talk about
    0:18:02 in atomic habits is getting 1% better each day.
    0:18:05 Are you getting 1% better or 1% worse?
    0:18:07 Is the arrow pointed up and to the right,
    0:18:08 or have you flatlined?
    0:18:10 ‘Cause if you’re on a good trajectory,
    0:18:13 even if it’s a very modest gain on any given day,
    0:18:15 all you need is time.
    0:18:16 And if you’re on a bad trajectory,
    0:18:18 even if you’re in a pretty strong position right now,
    0:18:20 it’s not gonna end well.
    0:18:23 And so building better habits,
    0:18:24 making these small improvements,
    0:18:27 it’s really about getting you on a path
    0:18:29 that can lead to where you wanna go.
    0:18:30 I really like that question of,
    0:18:34 can my current habits carry me to my desired future?
    0:18:36 You know, and if they can, then great,
    0:18:37 maybe you just need to be patient
    0:18:38 and let the days work for you.
    0:18:41 But if they can’t, then something needs to change
    0:18:42 about your trajectory.
    0:18:44 And so your habits are one of the things
    0:18:46 that kind of set you on that path
    0:18:49 and determine how far you’re gonna go
    0:18:51 and whether you’re improving day in and day out.
    0:18:53 And so for all of those reasons,
    0:18:54 I like to refer to habits
    0:18:56 as the compound interest of self-improvement.
    0:18:58 You know, the same way that money multiplies
    0:18:59 with compound interest,
    0:19:01 the effects of your habits multiply
    0:19:03 as you repeat them across time.
    0:19:05 Many of your outcomes in life,
    0:19:07 many of the results that we also badly want to have,
    0:19:10 they’re kind of like a lagging measure
    0:19:12 of the habits that precede them.
    0:19:14 So your bank account is a lagging measure
    0:19:16 of your financial habits.
    0:19:18 Your knowledge is a lagging measure
    0:19:19 of your reading and learning habits.
    0:19:22 Even little stuff like the amount of clutter
    0:19:23 in your living room is a lagging measure
    0:19:25 of your cleaning habits.
    0:19:29 And so we also badly want better results in life,
    0:19:31 but the somewhat ironic thing
    0:19:33 is that the results are not actually
    0:19:35 the thing that needs to change.
    0:19:36 You know, it’s like fix the inputs
    0:19:38 and the outputs will fix themselves.
    0:19:41 Adjust the habits and you’ll be set on a different path
    0:19:44 and carried to a different destination naturally.
    0:19:47 So this concept of getting 1% better each day,
    0:19:50 it’s really a philosophy and attitude and approach
    0:19:53 of showing up, trying to make some small improvement
    0:19:55 and trusting that that little improvement
    0:19:57 can compound something much greater
    0:19:59 over a broad span of time.
    0:20:04 – Well, you heard it from James.
    0:20:07 Just like exercising, showing up regularly
    0:20:09 and putting in the effort in your content creation,
    0:20:13 even on tough days, builds long-term results.
    0:20:15 So think about it, yeah, fam.
    0:20:17 What habits are you gonna do to build in your daily,
    0:20:20 weekly or monthly routine to accomplish your goals
    0:20:21 as a content creator?
    0:20:23 Okay, so we spoke about getting started
    0:20:26 and staying motivated and building habits.
    0:20:28 Now let’s talk a little bit more
    0:20:30 about the flip side of content creation,
    0:20:33 the dark side, I should say, which is burnout.
    0:20:35 It’s easy to feel overwhelmed
    0:20:38 when you’re consistently in creation mode.
    0:20:40 And that’s why it’s so important to set boundaries
    0:20:42 and find ways to recharge.
    0:20:46 As entrepreneurs, we tend to be proud of our energy levels
    0:20:49 and we often even boast about our own resilience
    0:20:50 and hustle culture.
    0:20:53 But Dr. Aditi Neurocar, a stress expert
    0:20:56 at Harvard Medical School, told me
    0:20:59 that you can be resilient and still be much more burned out
    0:21:00 than you think you are.
    0:21:07 – Resilience and stress go hand in hand.
    0:21:10 When you think about what is resilience,
    0:21:13 the scientific definition is that it’s your innate
    0:21:16 biological ability, so we all have it.
    0:21:19 And it’s that ability that you have to adapt, recover
    0:21:22 and grow when life throws you a curve ball
    0:21:24 or you have a challenge.
    0:21:27 Now, resilience doesn’t function in a vacuum.
    0:21:28 You need a little bit of stress,
    0:21:32 that healthy positive stress for resilience to show itself.
    0:21:35 What happens though, is that that word resilience,
    0:21:37 you and I hear it and others who are listening
    0:21:39 to this conversation may hear the word
    0:21:41 and have a visceral response
    0:21:43 because it’s gotten a really bad rap
    0:21:44 over the past several years.
    0:21:47 The word resilience is a positive connotation,
    0:21:49 but it feels very negative when you hear it.
    0:21:51 And the reason it feels negative now,
    0:21:53 you’re like, “Oh, don’t tell me to be resilient.”
    0:21:57 It’s because that definition has changed and morphed.
    0:22:01 Societally, we’ve moved away from true resilience
    0:22:02 towards toxic resilience.
    0:22:04 And so what is true resilience?
    0:22:05 True resilience, it’s like, like I said,
    0:22:07 it’s your innate biology.
    0:22:10 We all have that ability to be resilient.
    0:22:12 It honors boundaries.
    0:22:15 It honors your human limitations for rest and recovery.
    0:22:17 And it really focuses on self-compassion
    0:22:21 and leaning into that versus toxic resilience.
    0:22:24 Toxic resilience is when you and I hear the word resilience,
    0:22:27 immediately you cringe, that’s toxic resilience.
    0:22:29 It’s a mind over a matter mindset.
    0:22:31 It’s productivity at all costs.
    0:22:34 It’s like all systems go all the time.
    0:22:36 It’s the energizer bunny here in the US.
    0:22:40 Just keep going in the UK, keep calm and carry on.
    0:22:46 Every single society has some concept of toxic resilience
    0:22:48 because it’s a manifestation of hustle culture.
    0:22:51 And so I hope that the entrepreneurs listening,
    0:22:54 what they take away from our conversation
    0:22:57 is that you can be resilient and you can still get burnt out.
    0:23:00 That’s called the resilience myth that people think,
    0:23:02 “Oh, I can’t be burned out, I’m so resilient.”
    0:23:06 Those two things, because what you’re likely living through
    0:23:08 is this idea of toxic resilience,
    0:23:11 because we’ve been taught from a really young age
    0:23:14 that resilience is about tolerating a lot of discomfort,
    0:23:16 but that’s not actually true resilience.
    0:23:20 And so I want to dismantle that idea of resilience
    0:23:23 as being toxic and rather lean into your true resilience,
    0:23:27 which really honors your need for rest and recovery.
    0:23:29 Because then that is how your brain,
    0:23:32 newsflash that your brain really needs rest and recovery
    0:23:35 to be productive and to really be functioning
    0:23:36 at its optimal level.
    0:23:40 (air whooshing)
    0:23:43 Recovery is essential to avoiding burnout,
    0:23:45 but you can also do a lot for yourself by planning ahead.
    0:23:48 That’s why one of the best techniques to avoid burnout
    0:23:50 is batching your content.
    0:23:53 By setting aside dedicated time to plan and create in bulk,
    0:23:55 you reduce the stress of having to come up
    0:23:57 with content on the fly.
    0:23:59 Jasmine Starr, a business strategist
    0:24:02 who helps entrepreneurs build their businesses,
    0:24:04 shared with me a powerful system she uses
    0:24:07 to batch her reels and TikToks efficiently.
    0:24:10 (air whooshing)
    0:24:14 So what are your top tips for batching content?
    0:24:19 – So I am producing three to four reels a week,
    0:24:22 and I’m posting also on TikTok in the same frequency.
    0:24:25 And what I tried to do is batch all of the content
    0:24:26 two days out of the month.
    0:24:30 And so I’ll set aside five hours every other Friday.
    0:24:34 And what is so important is to have a plan going in.
    0:24:37 I know the reels that I want to create.
    0:24:40 I also write down the copy for the reel.
    0:24:42 So it’s like, instead of is wasting time like,
    0:24:44 “Oh, what are my three tips for this reel?”
    0:24:45 So everything’s laid out,
    0:24:48 including am I gonna do an outfit change?
    0:24:49 ‘Cause if I need to do an outfit change,
    0:24:51 I need to have a total count for the outfits
    0:24:53 that I need for that specific time.
    0:24:56 And so I go in and I have a document,
    0:24:57 the reel I wanna create,
    0:24:59 how long I think it’s gonna take me to create it,
    0:25:02 what props that I need, and the copy for that reel.
    0:25:04 Sit down, create them in real time,
    0:25:06 save them as drafts or just save to the video,
    0:25:08 and then upload when I’m ready.
    0:25:14 – Jasmine’s approach shows how a solid plan and process
    0:25:16 can save you time and energy.
    0:25:19 If you prepare ahead and you prepare your scripts
    0:25:22 and your outfits, you can then streamline your workflow
    0:25:25 and focus on your creativity during your batch sessions.
    0:25:27 Batching also helps you stay in the zone
    0:25:29 because you’re not task switching,
    0:25:31 which can actually really disrupt your flow.
    0:25:33 When you’re focusing all your energy
    0:25:35 on content creation for a set period,
    0:25:38 that will maximize your productivity.
    0:25:41 So in short, try establishing a production routine
    0:25:43 that you follow for each video, podcast,
    0:25:46 blog posts, or social media posts.
    0:25:48 When you follow the same exact process
    0:25:50 for every piece of content that you do,
    0:25:53 it becomes second nature and gets easier over time.
    0:25:56 The routine not only helps you produce content faster,
    0:25:59 but also reduces the mental load of constantly
    0:26:01 having to start from scratch.
    0:26:03 If you’re feeling a bit of creator’s block,
    0:26:05 give OpusClip a try.
    0:26:07 You can use their all-in-one editor
    0:26:09 to jumpstart your ideas for your videos.
    0:26:12 It’s especially useful if you have long-form videos
    0:26:14 that you wanna chop up into viral content.
    0:26:18 Their AI identifies the most compelling hooks,
    0:26:20 extracts highlights from different parts of your video
    0:26:22 to create short viral reels.
    0:26:25 They also have a social post scheduler
    0:26:27 to auto-post your clips to YouTube, TikTok,
    0:26:29 Instagram, LinkedIn, and X,
    0:26:32 so you don’t have any excuse not to be consistent
    0:26:33 in the new year.
    0:26:36 You can try it out at opus.pro/clipanything,
    0:26:39 that’s opus.pro/clipanything.
    0:26:41 And yeah, bam, every good thing takes time,
    0:26:43 sacrifice, and consistency.
    0:26:46 You are not going to become a top content creator
    0:26:49 without putting in the time and effort.
    0:26:51 However, it does get easier.
    0:26:52 And once you put in the reps,
    0:26:54 and once you achieve some success,
    0:26:56 it’s okay to then slow down.
    0:26:58 It’s okay to start saying no to opportunities
    0:27:00 and not burn yourself out.
    0:27:04 So for myself, I hustled so hard for four years straight.
    0:27:07 I worked every weekend, I worked till past midnight,
    0:27:09 I hustled, I hustled, I hustled,
    0:27:12 and I built up my platforms and my companies.
    0:27:14 But then I realized at a certain point
    0:27:16 that in order to become my best self,
    0:27:18 I needed more rest and more balance.
    0:27:19 I needed to work on my relationships.
    0:27:21 I needed to work on my own health.
    0:27:24 And I put in so much work that my business
    0:27:26 and my platforms were compounding
    0:27:29 where I didn’t really need to hustle as hard anymore
    0:27:30 and everything would still grow
    0:27:32 without me working so hard.
    0:27:33 I basically hustled enough
    0:27:35 where I grew everything to a point
    0:27:37 where I earned the right to slow down.
    0:27:39 Here’s Jenna Kutcher again for a second time
    0:27:41 to drill this point home.
    0:27:42 Jenna is in my podcast network,
    0:27:45 and I’ve seen firsthand her turn down huge opportunities,
    0:27:47 thousands and thousands of dollars
    0:27:49 for the sake of her mental health and joy.
    0:27:52 She takes it very seriously.
    0:27:57 – So something else to know about Jenna
    0:28:00 is that she only does stuff that brings her joy.
    0:28:02 You only do things that you wanna do.
    0:28:04 I bring Jenna opportunities all the time.
    0:28:05 She’s in my podcast network
    0:28:07 where I’ll be giving her like,
    0:28:09 I booked sponsorships for her
    0:28:11 and she’ll be like, I don’t wanna do that.
    0:28:12 I’m burnt out.
    0:28:13 I’m burnt out on IG Reels.
    0:28:15 And I’m like, but it’s thousands of dollars.
    0:28:16 Are you sure?
    0:28:17 And she’s like, yeah, I don’t care.
    0:28:18 I’m burnt out.
    0:28:19 I’m not doing that.
    0:28:20 You can do it.
    0:28:22 You can book it in two months or whatever.
    0:28:23 So talk to me about that.
    0:28:25 Like, how are you able to sort of just put your foot down?
    0:28:29 A lot of people couldn’t just turn down money like that.
    0:28:30 – Yeah.
    0:28:32 I mean, first off, it is such a privilege
    0:28:33 to be in a position.
    0:28:34 – Yeah, it wasn’t always like that.
    0:28:35 – No.
    0:28:36 – You’ve got to sacrifice.
    0:28:39 – But I’ve realized, and here’s what I’ve really realized,
    0:28:41 is if you have listened to this whole episode,
    0:28:43 you recognize the power of trust.
    0:28:46 And I want my community to trust me.
    0:28:48 And if something isn’t in alignment,
    0:28:50 not only do I feel it, but they feel it.
    0:28:53 And so I have had to get so good at discerning,
    0:28:54 what are the right partners?
    0:28:56 What are the right opportunities?
    0:28:59 What are the right like sponsorships to take on?
    0:29:01 Like, is this in alignment?
    0:29:03 And I feel that way with every opportunity,
    0:29:05 whether it is getting asked to speak on stages
    0:29:07 that I would have once dreamt of being on,
    0:29:09 but now I’m saying no to,
    0:29:11 or whether it is, you know, hosting a mastermind
    0:29:12 or all these things.
    0:29:13 I could do a million things.
    0:29:14 I don’t want to.
    0:29:17 And I think that I’m just at this place in my life
    0:29:21 where I just recognize that like peace is,
    0:29:22 needs to be protected.
    0:29:25 And right now in this stage of my life,
    0:29:27 like my priority is my family.
    0:29:30 And anything that I’m saying yes to is a no to them.
    0:29:32 And what is the most important thing to me?
    0:29:35 And so, you know, turning down things like,
    0:29:37 recording another social media reel,
    0:29:39 it’s, to me, it’s like,
    0:29:40 but this is more time with my kids
    0:29:42 or this is protecting and preserving
    0:29:45 the integrity of my followers.
    0:29:47 – She’ll even turn down things that are a good fit.
    0:29:48 – Totally, totally.
    0:29:51 – She’ll turn down things that are a great fit for her
    0:29:52 because she’s like, no,
    0:29:54 my time with my family is more important.
    0:29:57 – Yeah, and I think that like boundaries
    0:29:59 protect what’s sacred to you.
    0:30:02 And I’ve just had to relearn this lesson
    0:30:05 over and over and over again of like boundaries aren’t bad
    0:30:09 and boundaries like keep what I say most important to me
    0:30:11 and they exemplify that.
    0:30:12 Like what I am saying is most important to me
    0:30:14 is reflected in my calendar.
    0:30:16 It is reflected in my bank account,
    0:30:18 is reflected in the way I show up every single day.
    0:30:22 And so it’s, it’s a muscle that you have to learn to flex
    0:30:25 and it takes time because I think that, you know,
    0:30:27 there was a time in my life where I got paid $50,
    0:30:29 take pictures of a cat and I couldn’t believe it.
    0:30:31 Like somebody is paying me to do something.
    0:30:33 I love, this is amazing.
    0:30:35 And what a blessing that is.
    0:30:37 And the better that you get out listening to your gut
    0:30:40 and discerning like, well, this is a great opportunity
    0:30:42 but is it the right opportunity for me?
    0:30:45 It keeps you in alignment so that you are not passing up
    0:30:47 things that you should be saying yes to
    0:30:48 and that you are not saying yes to things
    0:30:50 that you should be saying no to.
    0:30:54 And so I feel like I just have like a really strong intuition
    0:30:57 and a gut game and I don’t apologize for saying no any longer
    0:31:00 because my no is literally just a reflection
    0:31:02 of like what is mattering the most to me right now.
    0:31:04 – Yeah, but let’s stick on this mindset
    0:31:06 because yesterday I was talking to Jenna,
    0:31:08 I had been working on this crazy presentation
    0:31:10 for like three months and I was like,
    0:31:12 guys, I killed myself on this.
    0:31:16 I worked so hard and we were with our other friend,
    0:31:19 Amy Porterfield and she was saying, you know,
    0:31:20 I’m the same way.
    0:31:23 Like I work really hard sometimes and burn myself out.
    0:31:25 And Jenna was like, I don’t know how you guys do that.
    0:31:27 Like I would never do that.
    0:31:31 I would never choose to kill myself on anything.
    0:31:35 And I always, a lot of the times take the hard route.
    0:31:37 I don’t know why it’s my personality.
    0:31:39 Why are you like this?
    0:31:40 Like how did this come about?
    0:31:41 Were you always like this?
    0:31:42 Where you’re just like, no,
    0:31:45 I’d rather just have my joy than the money.
    0:31:48 – I feel like I’ve realized that like our piece
    0:31:51 is so expensive and life is so short.
    0:31:54 And I definitely am not anti-hustle culture
    0:31:56 because I do believe hustle is required
    0:31:57 to get the dream off the ground.
    0:31:59 No matter what the dream is,
    0:32:00 there have been so many points in my career
    0:32:03 where I get an idea or I have a project or something like,
    0:32:05 yeah, I can hustle.
    0:32:07 But if hustle is the only way that you can operate
    0:32:09 and sustain what you’re building,
    0:32:10 that is not a business.
    0:32:13 Like you are building a prison for yourself.
    0:32:15 And I’ve watched so many people
    0:32:19 who have really successful businesses and really lousy lives.
    0:32:21 Like they are rich in their bank accounts
    0:32:22 and empty in relationships.
    0:32:25 And like to me, that’s just not worth it.
    0:32:27 That is such a high cost.
    0:32:30 And I feel like I have had to learn how to discern
    0:32:34 like what are my best yeses and like what can I say no to
    0:32:37 without having FOMO, without having guilt.
    0:32:40 And it’s interesting because I think becoming a mom
    0:32:43 really shifted that for me of like,
    0:32:47 anytime I’m away from my kids, I want it to be worth it.
    0:32:50 And the only way for me to alleviate mom guilt
    0:32:54 was to know that like I was doing work that I love,
    0:32:56 work that I enjoy, work that gives me peace,
    0:33:00 that excites me, so that whenever I’m working,
    0:33:02 I’m not there thinking I should be with my kids.
    0:33:04 And whenever I’m with my kids, I’m thinking I should be working.
    0:33:06 It’s like the only way to get past that
    0:33:09 was to just be in total alignment of like,
    0:33:10 what do I want for my life?
    0:33:14 And I think we focus so much on like leaving a legacy,
    0:33:18 but I think in reality, we have to focus on living a legacy.
    0:33:21 And I’m like, I want my kids to see the joy.
    0:33:22 I want them to see the peace.
    0:33:26 And you know, I’ve had so many turning points in my business
    0:33:29 where like I’ve just realized that like money isn’t the answer.
    0:33:33 Like at times in my business where I’ve earned the most money,
    0:33:35 I’ve been the most miserable.
    0:33:38 And I just feel like there’s this threshold of like,
    0:33:39 where do I get more joy?
    0:33:40 How do I derive joy?
    0:33:42 Like what does peace look like?
    0:33:43 Like when I go to bed at the end of the night,
    0:33:45 how do I truly rest?
    0:33:48 And it’s just been a huge shift.
    0:33:49 And it’s not easy.
    0:33:52 And it doesn’t come naturally because I am an achiever
    0:33:55 and I am a hard worker and I am driven,
    0:33:58 but I’m just at a place in my life where I’m like,
    0:34:00 I just want to enjoy it.
    0:34:00 – Yeah.
    0:34:02 I love the way that you and your team handle it.
    0:34:04 You guys take Fridays off.
    0:34:05 – Yeah.
    0:34:06 – You don’t work on Fridays,
    0:34:09 but you’re still crushing it and getting so much done.
    0:34:12 Like you don’t have to overwork yourself to be successful
    0:34:14 and you were such a great example of that.
    0:34:15 – Yeah.
    0:34:16 There’s this quote that I heard
    0:34:19 that totally changed my mentality.
    0:34:21 And it was instead of asking yourself,
    0:34:24 if you’ve worked hard enough to earn your rest,
    0:34:26 ask yourself if you’ve rested well enough
    0:34:27 to do your best work.
    0:34:30 It was by a girl, Nikola Hobbs, I think is her name,
    0:34:31 or Nikola Dobbs.
    0:34:34 And I heard that and I was like, whoa,
    0:34:36 like I have been wired of like,
    0:34:38 I just need to get this done and then I can rest.
    0:34:40 And I was like, what if we like flip this on its head?
    0:34:42 And it’s just been so transformative for me
    0:34:45 because I’m like, no, I need to like come into this
    0:34:48 feeling rested and well to do my best work.
    0:34:49 And that is like totally shifted things.
    0:34:50 – I love that.
    0:34:56 – I really love that mantra that Jenna mentioned.
    0:34:59 Have you rested well enough to do your best work?
    0:35:02 Remember, you’re running a marathon, not a sprint.
    0:35:04 And that marathon is long.
    0:35:08 You will most likely not become an overnight success.
    0:35:10 It will take you years before you make money
    0:35:13 because being a content creator is not easy.
    0:35:16 And it’s easy to be down on yourself and give up
    0:35:18 when you feel like you didn’t become an influencer
    0:35:20 or you haven’t gone viral yet
    0:35:22 or reached a point to monetize your content.
    0:35:25 Benjamin Hardy, an organizational psychologist,
    0:35:27 taught me that when you think that way,
    0:35:28 you are in the gap.
    0:35:30 You are practicing gap thinking,
    0:35:33 which is a really unhealthy place to be.
    0:35:37 Instead, you really wanna practice gain thinking.
    0:35:39 Now here’s Ben to explain gap and gain thinking.
    0:35:46 – I heard you say on another podcast
    0:35:48 that when you released that book in 2018
    0:35:49 that you came on my podcast to talk about
    0:35:51 willpower doesn’t work.
    0:35:54 You actually considered it a failure
    0:35:57 because it didn’t reach New York Times bestsellers list.
    0:35:59 And that’s like every author’s dream.
    0:36:01 But nonetheless, when you came on my podcast,
    0:36:03 I remember thinking it was such a big deal.
    0:36:04 You were such a big blogger.
    0:36:08 And we had scored Benjamin Hardy episode number seven.
    0:36:13 And so you were a big deal to us and to the outside world,
    0:36:14 but inside you felt like a failure.
    0:36:16 So I wanna talk about that.
    0:36:19 I think it will give us some color on your journey
    0:36:22 and help us understand the gap in the gain concept as well.
    0:36:27 – So I served a church mission from 2008 to 2010.
    0:36:29 And like going on that experience
    0:36:30 was very transformational for me.
    0:36:32 I grew up in a really intense environment.
    0:36:35 But ever since I came home from that experience in 2010,
    0:36:37 I wanted to be a professional author.
    0:36:41 Over the from 2015 to 2017, I grew enormously
    0:36:44 as a blogger and was able to get a book deal
    0:36:45 and be able to start providing for my family.
    0:36:48 So essentially I got a multi six figure book deal
    0:36:49 to write a book.
    0:36:50 I’m living my dreams.
    0:36:53 It all happens way faster than I thought in early 2018.
    0:36:56 Honestly, it was March of 2018, the book comes out.
    0:36:58 And I did have way in my head.
    0:37:00 Like I had built everything up in my head
    0:37:02 that it needed to be a certain level.
    0:37:03 It needed to be a New York Times best seller.
    0:37:07 And I admittedly as well, threw so much money at it.
    0:37:10 And so yeah, it didn’t hit the goal.
    0:37:12 And for probably four or five months,
    0:37:14 I was in a very deep depression, very deep slump.
    0:37:19 And kind of back to the idea of the gap in the gain now.
    0:37:22 I guess I’ve learned to measure my own self differently.
    0:37:24 So the gap in the gain is something I learned
    0:37:25 from Dan Sullivan.
    0:37:27 I read his little book on the subject.
    0:37:29 Maybe actually it was in 2018.
    0:37:32 I read his little book and I was still blogging back then.
    0:37:34 And it was just an idea I loved.
    0:37:38 And I thought if I ever get a chance to write books
    0:37:40 with Dan Sullivan, I’m going to make this a major book.
    0:37:42 And the idea is very simple.
    0:37:45 I mean, it’s basically the idea that as a person,
    0:37:49 we all feel happy or sad based on how we measure ourselves
    0:37:51 and how we measure our experiences.
    0:37:53 The reason I went into a deep depression
    0:37:56 after I had made a monumental achievement.
    0:37:58 I mean, I’d never done that before.
    0:37:59 It was totally new.
    0:38:01 And yet I felt like a loser ’cause I was in the gap.
    0:38:04 I was measuring what was against what I thought it should be,
    0:38:05 which is an ideal.
    0:38:06 When you’re in the gap,
    0:38:07 you’re measuring yourself against your ideals,
    0:38:09 which you’re always changing, always moving.
    0:38:11 Whereas the gain is the opposite.
    0:38:12 You measure yourself backward
    0:38:14 against where you were before.
    0:38:16 Truth was is I was way further than I’d ever been.
    0:38:18 And if I was just measuring myself backward
    0:38:22 against my past self, competing only against my past self,
    0:38:24 I was radically further than I ever was
    0:38:26 and I just did something huge.
    0:38:29 And so I’m learning and I’ve learned over the years
    0:38:30 to be more in the game.
    0:38:35 And it’s a far more enjoyable, far happier experience.
    0:38:37 – Yeah.
    0:38:39 And I’d love to kind of dig deeper on this.
    0:38:41 If you can help us understand the difference
    0:38:43 between ideals and goals
    0:38:45 and why that matters with all this.
    0:38:50 – So ideals are very, they’re very ephemeral.
    0:38:53 Like they’re not actually tangible.
    0:38:55 And so like how I learned it from Dan
    0:38:58 is ideals are like the horizon in the desert.
    0:39:01 Like you can see them out there and like,
    0:39:04 but every time you take a few steps forward,
    0:39:05 the horizon keeps going.
    0:39:07 And in America,
    0:39:10 we’re actually trained to always be pursuing happiness.
    0:39:11 That’s even in the Declaration of Independence,
    0:39:13 life, liberty and the pursuit of happiness.
    0:39:16 And so we’re very big on ideals in America,
    0:39:16 which is good.
    0:39:17 Like it’s good to have ideals.
    0:39:18 It’s good to be idealistic.
    0:39:20 There’s nothing wrong with ideals.
    0:39:23 The problem is, is that they’re immaterial.
    0:39:24 Like I think a definition of ideal
    0:39:27 is whatever you believe is perfection.
    0:39:28 So when you’re in the gap,
    0:39:30 you’re literally measuring yourself
    0:39:32 against your view of perfection.
    0:39:34 But back to the idea of the horizon,
    0:39:36 that view is never endingly changing.
    0:39:39 Like my former self would have felt
    0:39:42 like it was perfection just to get a book deal.
    0:39:44 But then once I got there, the ideal changed.
    0:39:45 The horizon moved.
    0:39:47 And now, and so if you’re always measuring yourself
    0:39:49 against a moving target,
    0:39:53 and also a moving target that by definition is unreachable,
    0:39:55 you can’t actually reach an ideal.
    0:39:56 It’s an ideal.
    0:39:58 But if you’re always measuring yourself against it,
    0:40:00 then you never feel like you’ve moved anywhere.
    0:40:02 And that’s actually why we wrote the book,
    0:40:05 is because high achievers by nature have huge ideals,
    0:40:08 but they also usually measure themselves against them.
    0:40:10 And our culture is trained that way.
    0:40:12 Social media trains us to have ideals
    0:40:14 and to always be comparing ourselves externally.
    0:40:15 And sometimes ideals are other people.
    0:40:18 But if you’re always measuring yourself
    0:40:19 against something that’s way up ahead
    0:40:22 and also something that you can never actually reach,
    0:40:24 then what that does for you internally
    0:40:26 is it feels like you’ve never made any progress at all.
    0:40:30 It also devalues everything you’ve done to that point.
    0:40:32 And so whenever you’re in the gap,
    0:40:34 it does not matter how much you’ve achieved.
    0:40:36 It doesn’t matter if you’re living way, way, way
    0:40:39 beyond the dreams of anything you ever thought you would do,
    0:40:41 you actually feel like you’ve made no progress at all.
    0:40:43 And you feel like a loser
    0:40:45 and you’ve devalued not only your current self,
    0:40:47 you’ve devalued everything that got you here.
    0:40:48 And so ideals are beautiful.
    0:40:51 They’re just not useful as a measurement tool.
    0:40:54 They’re useful as a direction tool.
    0:40:56 Goals are far more concrete.
    0:40:59 Obviously, you can have goals that you set
    0:41:01 that move you toward your ideals.
    0:41:04 And so goals are specific.
    0:41:08 They’re concrete, they’re mile markers on a journey.
    0:41:11 And then the useful thing to do with your goals
    0:41:14 is to obviously become increasingly
    0:41:16 intrinsically motivated towards the goals you set
    0:41:18 and even the standards you set for yourself
    0:41:21 that they’re less about what anyone else thinks,
    0:41:23 what anyone else wants.
    0:41:24 And you actually get better at doing that
    0:41:26 when you just start measuring your progress backwards.
    0:41:28 So like I’ll set a goal for myself.
    0:41:31 I’ve got huge goals for 2023.
    0:41:33 But in terms of where I’m measuring myself
    0:41:35 and in terms of my benchmark,
    0:41:36 like my benchmark for 2023
    0:41:38 is what I accomplished in 2022.
    0:41:40 Like I accomplished some cool things,
    0:41:43 but I’m using that since it’s tangible.
    0:41:44 Ideals are not tangible.
    0:41:47 Like I have concrete evidence of what I did in 2022.
    0:41:50 And I can use that not only to propel me forward,
    0:41:51 but I can also use that to say,
    0:41:53 what do I wanna do that’s even gonna be bigger
    0:41:54 and more exciting?
    0:41:56 So you can just measure yourself backwards
    0:41:59 and use that as the baseline for what you can do.
    0:42:02 – Yeah, so I hear you saying a couple big ideas here.
    0:42:06 The first one is ideals are a moving target.
    0:42:07 You’re never gonna get there.
    0:42:09 So you’re never gonna be happy
    0:42:12 trying to go towards those ideals
    0:42:13 because you’re never gonna actually achieve that.
    0:42:15 You can’t actually achieve your ideal.
    0:42:16 And it’s always moving further and further
    0:42:19 as you become more successful, right?
    0:42:21 Second is comparing yourselves to other people
    0:42:25 that never helps in terms of our mindset or happiness.
    0:42:28 And then I hear you saying that goals can be tangible
    0:42:30 and you can have mile markers.
    0:42:32 And it’s okay to have goals,
    0:42:35 but you need to make sure that you’re judging
    0:42:38 your progress on those goals based on your past,
    0:42:43 not necessarily how far you are from your ideal place, right?
    0:42:44 I know I probably didn’t say it as good as you,
    0:42:46 but that’s basically what I’m getting at.
    0:42:48 – You actually broke it down beautifully.
    0:42:50 I think that this is one of the main problems
    0:42:51 with the narratives.
    0:42:52 Like there’s a lot of narratives
    0:42:54 about how you shouldn’t have goals.
    0:42:57 Obviously, I think it’s impossible to not have goals.
    0:43:01 I think human beings are, we can’t not have a goal.
    0:43:05 That’s part of being intentional,
    0:43:08 but the problem is the measurement.
    0:43:10 I mean, even if I had hit my goal,
    0:43:12 I would have gone into the gap.
    0:43:13 I would have moved the target.
    0:43:17 So even if I had hit the New York Times bestseller list
    0:43:18 from a gap perspective,
    0:43:20 I still would have felt terrible about myself
    0:43:22 because I would have moved the target.
    0:43:23 The target would have been,
    0:43:25 well, why wasn’t I on it for four weeks?
    0:43:26 – Or why wasn’t I number one
    0:43:27 like New York Times bestseller yet?
    0:43:29 – Yeah, or why didn’t I hit number one?
    0:43:30 So it doesn’t even,
    0:43:32 whether you hit the goal or not doesn’t even matter.
    0:43:34 If you’re in the gap, it will never have been enough
    0:43:36 because the target will keep changing
    0:43:37 and you’re measuring yourself
    0:43:39 against something that’s immeasurable
    0:43:42 and something that’s external and always changing.
    0:43:44 And so, yeah, whether it’s other people
    0:43:45 that you’re measuring yourself against
    0:43:48 or whether it’s just your inflated ideals,
    0:43:52 that’s the point is that you won’t be happy
    0:43:55 hitting or not hitting your goals if you stay in the gap.
    0:43:57 And that’s just the key.
    0:43:59 – Yeah, so then on the flip side,
    0:44:00 let’s talk about gain thinking.
    0:44:03 What does it look like to have gain thinking
    0:44:05 or to practice gain thinking?
    0:44:08 – So I look at gain thinking two ways.
    0:44:10 One is, it’s a way of measuring your progress
    0:44:11 and measuring your experiences.
    0:44:13 So for me, for example,
    0:44:17 like I’ve had a number of experiences already today,
    0:44:18 like even just to this point.
    0:44:20 And some of them went to plans
    0:44:22 and some of them didn’t go to plans.
    0:44:23 But if I’m in the game,
    0:44:24 I’m measuring what actually did happen.
    0:44:26 And I’m measuring myself backwards.
    0:44:28 I’m only measuring myself against where I was before.
    0:44:31 And the truth is I’m always ahead of my past self.
    0:44:34 Even if things go backwards seemingly,
    0:44:37 like even if I lose my leg in a car accident, right?
    0:44:40 Like a lot of bad things can seemingly happen.
    0:44:42 But if you’re in the game,
    0:44:45 you’re finding the gains and you’re creating gains
    0:44:46 from your experiences.
    0:44:48 And so I consider it your squeezing
    0:44:51 as much juice out of your experiences as possible.
    0:44:54 You’re also always choosing to become better as a result.
    0:44:58 No matter what happens to you, you’re in the game.
    0:45:00 So everything ultimately happens for you.
    0:45:01 So I guess it’s really two big ideas.
    0:45:03 One is is it’s measuring yourself backward
    0:45:04 against where you were before
    0:45:08 and always realizing that you’re further than you were before.
    0:45:10 And that the only thing I’m actually measuring myself
    0:45:13 against is myself, which is where I was before.
    0:45:15 So that’s number one is just measuring yourself backwards.
    0:45:17 The second one is literally turning everything
    0:45:20 that happens to you into something that happens for you.
    0:45:23 So anything, no matter what it was,
    0:45:25 you can actually gain and grow from it.
    0:45:27 And if you do, then you’re always getting better.
    0:45:30 You’re always learning from every experience.
    0:45:32 Whereas if you’re in the gap,
    0:45:34 then your past becomes a problem.
    0:45:37 Like that’s from like a psychology standpoint,
    0:45:38 what you need to be happy in the present
    0:45:41 is you need a happy past and an exciting future.
    0:45:44 And the past is literally a meaning.
    0:45:48 And so the gain is just a lens of using your,
    0:45:51 or of transforming your past into more gains, more learning,
    0:45:53 even from your most extreme traumas,
    0:45:55 you can learn to turn those into gains
    0:45:56 so that you’re constantly better
    0:45:58 and even grateful for them,
    0:46:01 which is what psychologists would call post-traumatic growth.
    0:46:02 So it’s really just those two things.
    0:46:04 I’m only measuring myself against myself backward
    0:46:07 and I’m literally turning every experience into my gain.
    0:46:13 – Yeah, BAM, I have to say, for some reason,
    0:46:16 this second interview that I had with Benjamin Hardy
    0:46:19 a couple of years ago just really hit different from me.
    0:46:21 I’ve thought about this conversation so much
    0:46:23 since we had it that I honestly can’t believe
    0:46:25 this conversation was two years ago
    0:46:27 because it feels so fresh in my mind.
    0:46:30 The first time Ben was on my show was episode seven,
    0:46:32 which is six years ago now.
    0:46:35 And I was literally just starting out as a podcaster.
    0:46:38 Now, if I look at the progress from then until now,
    0:46:41 it is beyond anything I could have ever imagined.
    0:46:44 Cover of podcast magazine, Webby Award honorary,
    0:46:45 dubbed as a podcast princess,
    0:46:48 now running the number one business podcast network
    0:46:51 with $6.5 million in revenue last year,
    0:46:54 representing huge legends that I used to look up to
    0:46:57 and thought I’d never even meet Jenna Kutcher,
    0:46:59 Amy Porterfield, Neil Patel, Russell Brunson.
    0:47:02 I mean, my past self six years ago
    0:47:05 would have never imagined my future self.
    0:47:07 But even with all this progress,
    0:47:09 I don’t always feel accomplished.
    0:47:11 Sometimes I’ve fallen to the trap
    0:47:13 of comparing myself with others,
    0:47:15 with other podcasters who were early adopters
    0:47:18 and captured more market share on Apple,
    0:47:20 with podcasters who seem to get more traffic than me
    0:47:22 but don’t try nearly as hard
    0:47:24 or don’t have as good as content.
    0:47:26 People who feel like overnight successes
    0:47:30 like Steven Barlett or Alex Ramosy who came out of nowhere.
    0:47:33 And even though I’m a top podcaster,
    0:47:36 a top 100 podcaster, I wanna be a top 10 podcaster.
    0:47:40 I want everybody in the world to know my name.
    0:47:41 And that was always my goal
    0:47:43 when I set out on starting the podcast.
    0:47:47 And I fall into what Ben calls the gap.
    0:47:50 But really, I shouldn’t measure myself this way.
    0:47:53 I should be measuring my progress, the game.
    0:47:56 I should be measuring my current self against my past self
    0:47:58 and not my future self.
    0:48:00 And although it’s healthy to measure progress
    0:48:01 looking backwards,
    0:48:03 it’s actually not healthy to always stay there.
    0:48:07 It’s better to think about who you want to be in the future.
    0:48:09 And Ben told me the best thing to do
    0:48:13 is to get really clear and connected with your future self.
    0:48:14 You’ve gotta hear this.
    0:48:21 – This is a really interesting concept in psychology.
    0:48:22 Typically the way we look at time
    0:48:25 is we look at it as past, present and future.
    0:48:27 And we kind of look at it sequentially.
    0:48:29 So, and we also look at it chronologically.
    0:48:31 Like my past is behind me.
    0:48:33 There’s no way I can get back there.
    0:48:35 My present is now and the future’s up ahead of me.
    0:48:37 I’ll never actually be able to go into the future.
    0:48:39 All there is is really now.
    0:48:40 From a psychology standpoint,
    0:48:42 that’s not how psychologists view time.
    0:48:44 Psychologists don’t view time sequentially.
    0:48:45 We actually view it holistically.
    0:48:48 So what I mean by that is that the past
    0:48:50 is currently existing in my life.
    0:48:54 Like who I’m being right now is a complete amalgamation
    0:48:57 of my views of my past, my experiences of my past.
    0:48:59 We even today were talking about
    0:49:02 us having a conversation four years ago, right?
    0:49:05 And so like my past is of course influencing me right now.
    0:49:08 And my narration of the past, my story of the past,
    0:49:09 the feelings I have toward my past,
    0:49:11 the anchors I may have in my past
    0:49:15 that are unresolved, call it trauma or whatever.
    0:49:17 But also my goals are heavily influencing me.
    0:49:20 I mean, anyone who’s listening to this
    0:49:21 is listening to it for a reason.
    0:49:22 They’re listening to it because they feel like
    0:49:24 this is gonna help them contribute to their goals
    0:49:25 or help them move forward in their lives.
    0:49:28 And so everything about my life right now
    0:49:31 is a combination of my feelings and my perspectives
    0:49:33 of my past and also my excitements
    0:49:35 or my feelings towards the future.
    0:49:40 And so they’re certainly not mutually exclusive
    0:49:41 in terms of being in the game,
    0:49:43 but also having a future oriented mindset.
    0:49:46 Most people who read the gap in the game
    0:49:48 are very future oriented people.
    0:49:52 The game doesn’t stop you I guess from having a future.
    0:49:55 Actually in my perspective, whenever I’m living in the game,
    0:49:58 it actually helps me to be more,
    0:50:00 it helps me to have a future that’s more genuinely
    0:50:02 coming from my own self,
    0:50:04 rather than something that’s coming from the outside.
    0:50:07 Usually people’s goals and they’re called,
    0:50:08 their standards or their ideals,
    0:50:11 actually were fed to them by culture, by society.
    0:50:13 They don’t even, you know, the future that they want
    0:50:17 actually isn’t genuinely intrinsically motivated.
    0:50:19 And so for me, tapping into the game
    0:50:20 just helps me to stop worrying
    0:50:22 about the outside world as much,
    0:50:24 stop competing with other people.
    0:50:27 And so in terms of future self,
    0:50:31 I guess I would say in simple terms,
    0:50:33 we all have a future self.
    0:50:36 What the research shows is that most people,
    0:50:37 especially the older they get,
    0:50:41 they stop thinking about their future self very much.
    0:50:44 Most people probably 30 and above
    0:50:47 assume that even their future self,
    0:50:48 10, 20 or 30 years from now
    0:50:51 is mostly gonna be the same person they are today.
    0:50:53 So most people don’t have huge imagination
    0:50:54 towards their future self.
    0:50:57 What the research does show is that your future self
    0:50:59 is gonna be a wildly different person than you think.
    0:51:01 Even in five or 10 years from now,
    0:51:03 it’s gonna be hard to fully predict
    0:51:04 who your future self will be.
    0:51:06 But if you start imagining it, start thinking about it,
    0:51:08 and importantly getting really connected
    0:51:11 to your future self, who you want to be in the future.
    0:51:13 You can then start using, obviously,
    0:51:15 your vision of your future self
    0:51:16 to guide and direct who you’re gonna be today,
    0:51:18 and you can be extremely intentional about it.
    0:51:22 And so from my standpoint, the best thing to do
    0:51:25 is get really clear and connected to your future self,
    0:51:27 who you wanna be, get very specific about that,
    0:51:30 and then use that as, I guess you could say,
    0:51:32 the North Star for directing everything
    0:51:33 you’re doing here and now,
    0:51:35 and each and every day as you’re moving forward,
    0:51:38 you’re measuring yourself against where you were before.
    0:51:39 You’re measuring yourself backwards,
    0:51:42 and you’re always seeing that by increasingly living
    0:51:44 intentionally as your future self,
    0:51:47 you’re always outgrowing your past self.
    0:51:48 And I do this daily.
    0:51:53 I mean, if I even look at where I was a week ago,
    0:51:58 I am not the same person I was last week.
    0:51:58 I’ve changed a lot.
    0:51:59 I’ve grown a lot.
    0:52:03 I know a ton of things my past self didn’t know.
    0:52:05 And so I’m never my past self,
    0:52:07 and I’m always growing into my future self.
    0:52:09 And that’s kind of how I see it.
    0:52:14 – So yeah, bam, who is your future self
    0:52:16 as a content creator?
    0:52:18 What goals will your future self achieve?
    0:52:20 And how can you make these concrete goals
    0:52:23 rather than chasing an ideal that has a goalpost
    0:52:26 that is ever moving and leaving you feeling unfulfilled
    0:52:28 in a gap mindset?
    0:52:29 Write these goals down.
    0:52:31 What is your future self as a content creator look like
    0:52:34 in one year, in five years, in 10 years?
    0:52:38 Imagine with limitless boundaries and write these goals down.
    0:52:41 Then use these goals to prioritize and plan your actions.
    0:52:43 Understand who you want to be
    0:52:45 and then make your decisions from that lens.
    0:52:46 It’s your North Star for directing
    0:52:49 what you do day in and day out.
    0:52:50 It’s the start of the new year
    0:52:53 and there’s no better timing to set out on new goals.
    0:52:55 Finally, I wanted to touch on a concept
    0:52:57 that might seem a little abstract,
    0:52:59 but which is actually deeply connected
    0:53:01 to staying motivated as a creator.
    0:53:04 Luck, have you ever felt like certain people
    0:53:05 seem to get all the lucky breaks
    0:53:07 while you’re stuck spinning your wheels?
    0:53:10 Well, what if I told you that luck isn’t just random?
    0:53:13 It’s something that you can actively cultivate.
    0:53:15 Case Kenny, a writer and mindfulness expert,
    0:53:17 broke down this idea beautifully for me
    0:53:19 when he shared how luck is intertwined
    0:53:22 with patience, action and authenticity.
    0:53:28 I was listening to an interview with you
    0:53:31 and James Altichur a couple of days ago
    0:53:35 and you guys were talking about how luck is similar to faith,
    0:53:38 which I thought was just a really cool way to think about it,
    0:53:41 that luck is very similar to how you would think of faith.
    0:53:43 How can we make ourselves more lucky?
    0:53:47 What are some ways that we can break the rut that we’re in,
    0:53:48 the routine that we’re in
    0:53:51 to try to bring more luck into our lives?
    0:53:53 I like the idea of luck as faith
    0:53:56 and I like the idea of luck and faith and patience
    0:53:58 being intertwined.
    0:54:01 When you give yourself patience,
    0:54:03 that is saying I have faith in myself.
    0:54:05 When you’re saying I don’t need to rush to do this,
    0:54:07 I don’t need to conform to someone else’s timeline,
    0:54:08 I just need to keep doing what I’m doing.
    0:54:11 That is faith in yourself and that is what creates luck.
    0:54:13 There’s a book that I referenced quite a bit
    0:54:15 that has been passed around a little bit
    0:54:17 about the talks about luck.
    0:54:18 I’m blanking on the author of it,
    0:54:20 but it’s called “Chase Chance and Creativity,
    0:54:22 the Lucky Art of Novelty”
    0:54:25 and it’s basically written by this scientist professor
    0:54:28 who was talking about the role that luck has played
    0:54:31 in some great scientific breakthroughs, right?
    0:54:32 Specifically luck in the lab,
    0:54:35 like the invention of pasteurization and Louis Pasteur
    0:54:36 and the invention of penicillin.
    0:54:39 These were technically mistakes that were made in the lab
    0:54:41 when they just randomly did things,
    0:54:43 not scientists that don’t know the exacts,
    0:54:45 but they randomly mixed things together
    0:54:46 and something great happened, right?
    0:54:46 It was luck.
    0:54:48 It wasn’t part of the plan, it was luck.
    0:54:52 And basically the scientist looked over the years,
    0:54:55 over the many decades and centuries of luck in the lab
    0:54:59 and he said luck is actually categorizable.
    0:55:00 It’s something we could break down
    0:55:01 and it’s something we can’t control.
    0:55:03 And he said there’s four kinds of luck.
    0:55:05 And one luck is the kind of luck
    0:55:08 that I think we’re all so apt to identify by.
    0:55:10 And for me, I used to think,
    0:55:11 well, I’m an unlucky person, right?
    0:55:12 I’m number one in the lottery.
    0:55:13 I always hit red lights.
    0:55:15 Like if something bad can happen,
    0:55:16 it tends to happen to me.
    0:55:18 That’s the kind of luck that we need to ignore.
    0:55:19 That’s random luck.
    0:55:21 Like we don’t really care about random luck.
    0:55:23 We can’t control it, it is what it is.
    0:55:24 But there’s three other kinds of luck
    0:55:26 that he identified in the lab
    0:55:29 that I think is very immediately transferable to life.
    0:55:32 The first was luck that comes from experience
    0:55:33 and association.
    0:55:35 Basically the more you do something,
    0:55:37 the wiser you get about it,
    0:55:40 such that in the future you make better decisions.
    0:55:43 You’re able to quickly form more mental associations
    0:55:46 of if this, then that, and you just have better results.
    0:55:48 It’s luck that comes from wisdom, right?
    0:55:50 So for me, it’s like with writing quotes.
    0:55:53 I’ve written, I don’t know, a thousand on Instagram.
    0:55:56 I kind of know what people want.
    0:55:59 I know what makes people feel seen.
    0:56:01 So people are like, I posted something yesterday.
    0:56:02 Today it’s got like 90,000 likes.
    0:56:04 That’s a lot of likes.
    0:56:04 That’s a little bit lucky.
    0:56:07 The algorithm lucked me today.
    0:56:08 Well, kind of.
    0:56:10 It was just a little bit of association.
    0:56:11 So that was luck one.
    0:56:13 The other luck was luck that comes from motion.
    0:56:14 Can’t deny that, right?
    0:56:16 The more you do, the luckier you get.
    0:56:17 Objects in motion, stay in motion.
    0:56:20 Objects in motion, bump into other objects in motion.
    0:56:22 The more you do, the more podcasts you release,
    0:56:23 the more music you release,
    0:56:25 the more cold calls you make.
    0:56:27 Literally the luckier you get.
    0:56:29 People, for some reason, we conflate luck
    0:56:32 with being irregardless of effort,
    0:56:34 but luck is truly effort.
    0:56:35 And then the last luck that he broke down
    0:56:38 was luck that comes from uniqueness, originality,
    0:56:41 authenticity, just the fact that the more real you are,
    0:56:45 the luckier you get in the sense that people can detect that.
    0:56:47 Like some of the examples would like,
    0:56:48 if you have blue hair, right?
    0:56:51 And that’s like authentic to you and your expression.
    0:56:52 It strikes up a conversation with someone.
    0:56:54 Oh, and they’re an editor for Vogue
    0:56:55 and you want to be a fashion model.
    0:56:58 Things like that, luck that comes from originality
    0:57:01 and authenticity, that in very practical ways,
    0:57:02 whether it’s a conversation in an elevator
    0:57:04 or something you post that shines through
    0:57:06 to attract the right people and you get lucky.
    0:57:08 But it comes from that level of realness.
    0:57:11 So yeah, I like thinking about luck in that sense
    0:57:14 because I used to really victimize myself
    0:57:16 as an unlucky person.
    0:57:17 And of course that’s not true.
    0:57:18 And that’s unfair.
    0:57:20 Back to the idea of that’s bold of you and vulnerability.
    0:57:23 It’s an unfair thing to say I’m an unlucky person.
    0:57:25 You could break yourself free of being unlucky
    0:57:28 by being real, by leaning on your past
    0:57:29 for those associations.
    0:57:31 And then for doing more, of course.
    0:57:38 – Cases breakdown of luck is such a powerful reminder
    0:57:40 that you don’t have to sit around
    0:57:42 waiting for opportunities to come to you.
    0:57:45 Instead, take action, stay true to yourself
    0:57:47 and trust that your consistent efforts
    0:57:48 will eventually pay off.
    0:57:50 And that’s a wrap for episode three
    0:57:52 of the app creator series.
    0:57:54 Today we explore the journey of staying motivated
    0:57:56 as a content creator from starting small
    0:57:59 and staying consistent to avoiding burnout
    0:58:01 and gap thinking while practicing game thinking
    0:58:05 and focusing on transforming into your future self.
    0:58:08 And remember, content creation is a marathon, not a sprint.
    0:58:10 The keys to find systems and tools
    0:58:12 that support your creativity
    0:58:14 and make the process sustainable.
    0:58:15 Whether that’s batching content,
    0:58:16 automating your workflows
    0:58:19 or using tools like OpusClip to save time
    0:58:21 while making awesome content.
    0:58:24 I wanna thank OpusClip for sponsoring this series.
    0:58:26 OpusClip’s AI-powered clip anything
    0:58:28 can transform how you create.
    0:58:30 Effortlessly discover hidden moments
    0:58:33 in your long form videos and turn videos
    0:58:34 into shareable viral content
    0:58:36 that resonates with your audience.
    0:58:38 They also have a social post scheduler
    0:58:40 to auto post your clips to YouTube,
    0:58:42 TikTok, Instagram, LinkedIn and X
    0:58:44 so you can save your precious time
    0:58:47 and stay consistent with your posting in 2025.
    0:58:50 If you’re ready to take your content to the next level,
    0:58:52 try OpusClip today for free
    0:58:54 at opus.pro/clipanything
    0:58:57 that’s opus.pro/clipanything.
    0:58:58 Thanks for tuning in
    0:59:00 and I can’t wait to see you in episode four
    0:59:03 of the Yap Creator series presented by OpusClip.
    0:59:05 This is Hala Taha signing off.
    0:59:08 (upbeat music)
    0:59:11 (upbeat music)
    0:59:14 (upbeat music)
    0:59:17 (upbeat music)
    0:59:25 [BLANK_AUDIO]

    Staying motivated as a content creator is no easy feat. Despite balancing a corporate job and a podcast, Hala Taha made the most of her limited free time to grow a LinkedIn following of 60,000 in just one year. Today, she’s a top LinkedIn voice with over 260,000 followers. In the third episode of the YAP Creator Series, Hala unpacks powerful strategies for consistently creating content without burning out. Featuring insights from top minds like Jenna Kutcher, Jeff Haden, and James Clear, you’ll learn how to build habits, celebrate small wins, and embrace sustainable growth. You’ll also discover how tools like OpusClip can fuel your creativity and streamline your workflow.

    In this episode, Hala will discuss: 

    (00:00) Introduction

    (01:15) Getting Started as a Content Creator

    (04:01) Creating Motivation Through Effort

    (14:00) Building Habits for Long-Term Success

    (19:31) Avoiding Burnout and Setting Boundaries

    (29:37) Trusting Your Gut and Intuition

    (30:50) Balancing Hustle and Peace

    (33:05) The Importance of Rest

    (34:41) Understanding Gap and Gain Thinking

    (37:44) Measuring Progress and Setting Goals

    (51:58) Cultivating Luck and Authenticity

    Try OpusClip for FREE:

    Visit https://www.opus.pro/clipanything 

    Resources Mentioned:

    YAP E242 with Jenna Kutcher: https://youngandprofiting.co/40oy6TK  

    YAP E148 with Jeff Haden: https://youngandprofiting.co/4fMo2sm   

    YAP E265 with James Clear: https://youngandprofiting.co/4j4khkC 

    YAP E301 with Dr. Aditi Nerurkar: https://youngandprofiting.co/3PopqGy 

    YAP E130 with Jasmine Star: https://youngandprofiting.co/4h50Qq5 

    YAP E206 with Benjamin Hardy: https://youngandprofiting.co/4j5nbpm 

    YAP E311 with Case Kenny: https://youngandprofiting.co/4a6KXNz 

    Top Tools and Products of the Month: https://youngandprofiting.com/deals/ 

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  • Tom Bilyeu: The Billion-Dollar Entrepreneur Mindset That Turns Failures into Success | E327

    AI transcript
    0:00:03 – Meaning and purpose is ultimately all that matters.
    0:00:04 If you have all the money in the world,
    0:00:06 but you don’t believe in what you’re doing,
    0:00:08 then it will be a very empty pursuit.
    0:00:11 Progress is a foundational pillar to human happiness.
    0:00:14 The average human is designed to get better.
    0:00:15 So if you put time and attention
    0:00:17 into getting good at something,
    0:00:19 you will actually get good at that thing.
    0:00:22 – How do we push through our emotions to achieve our goals?
    0:00:23 – I think people should…
    0:00:26 Don’t let anybody tell you something is impossible
    0:00:29 unless it legitimately violates the laws of physics.
    0:00:31 You’ve built a billion dollar companies
    0:00:32 across different industries,
    0:00:36 and right now money is really not a concern for you.
    0:00:37 – Money only monetizes once.
    0:00:38 You can only spend it one time,
    0:00:41 but knowledge and connections monetize forever.
    0:00:42 As long as you’re here,
    0:00:44 then you can’t have everything you want.
    0:00:51 (gentle music)
    0:00:54 (gentle music)
    0:01:02 Yap gang, hold onto your screens
    0:01:05 and get ready for an inspiring and insightful episode
    0:01:07 as we welcome Tom Billu,
    0:01:09 the co-founder of Quest Nutrition
    0:01:11 and the visionary behind Impact Theory.
    0:01:13 Tom’s not just a successful entrepreneur.
    0:01:16 He’s a master at transforming challenges into opportunities.
    0:01:17 And in this episode,
    0:01:20 he’ll share his journey from building a billion dollar business
    0:01:24 to pivoting into the world of media and personal empowerment.
    0:01:25 He’ll also share his thoughts on how AI
    0:01:27 could transform the creator economy.
    0:01:29 Tom is somebody that I’ve looked up to
    0:01:30 for such a long time.
    0:01:33 I’m so excited to have this conversation.
    0:01:35 He’s been such an inspiration to me.
    0:01:39 Impact Theory is a legendary platform.
    0:01:42 And honestly, like he’s just inspired so much of my journey.
    0:01:43 I can’t wait for this conversation.
    0:01:45 So without further delay,
    0:01:48 here’s my discussion with Tom Billu.
    0:01:51 Tom, welcome to Young and Profiting Podcast.
    0:01:52 – Thanks for having me.
    0:01:55 – I’m so excited for this conversation.
    0:01:56 You are somebody that I look up to
    0:01:59 both as a podcaster and an entrepreneur.
    0:02:01 You’ve built a multi-million dollar
    0:02:04 and billion dollar companies across different industries.
    0:02:08 And right now money is really not a concern for you.
    0:02:10 And so I’m curious to understand
    0:02:12 when you think about starting a new project
    0:02:15 and a new company, which are always starting new things,
    0:02:18 what are the considerations that you have?
    0:02:22 – Impact, meaning and purpose is ultimately all that matters.
    0:02:23 If you have all the money in the world,
    0:02:25 but you don’t feel engaged,
    0:02:27 you don’t believe in what you’re doing,
    0:02:29 then it will be a very empty pursuit.
    0:02:32 And I thankfully learned that lesson when I was quite young.
    0:02:36 So yeah, when I had all the financial success at Quest,
    0:02:38 I knew that whatever I do next
    0:02:40 has to be grounded in meaning and purpose
    0:02:41 just like Quest was.
    0:02:43 So my last day at Quest was Monday
    0:02:46 and my first day at Impact Theory was Tuesday
    0:02:48 and just got right back to it.
    0:02:50 ‘Cause that’s ultimately what feeds me
    0:02:51 is that sense of, okay,
    0:02:53 I’m doing something with my time that matters.
    0:02:55 Obviously I’m very thoughtful to make sure
    0:02:56 that I enjoy what I’m doing,
    0:02:58 even when I’m failing that it’s a thing
    0:03:01 that I not only care about the potential outcomes,
    0:03:03 but that I enjoy the process.
    0:03:06 So you got to fill your time somehow
    0:03:08 and I’m not a retired to the beach kind of guy.
    0:03:11 So Impact is to say it in a word.
    0:03:13 – Yeah, and something that I love for you
    0:03:16 is that you’ve got so many different like philosophies
    0:03:18 and ways that you live your life.
    0:03:19 And one of the things that you’ve said
    0:03:22 is that the most crucial aspect of life
    0:03:26 is what you think about yourself when you’re not alone.
    0:03:28 – Now what you think about yourself when you’re by yourself.
    0:03:30 So there’s no one there to hype you up.
    0:03:31 No one there to tear you down.
    0:03:34 What do you think about you?
    0:03:36 And it’s normally in that quiet space
    0:03:38 that people start beating themselves up
    0:03:41 and they don’t feel they’re living up to their own ideals.
    0:03:42 That matters.
    0:03:45 I think ultimately we just were hardwired for it.
    0:03:47 And so how do you feel self-respect
    0:03:50 and having self-respect for yourself
    0:03:52 is impacted by the work that we do
    0:03:54 and the jobs that we have?
    0:03:56 – Well, so we are a hungry species.
    0:03:58 We are designed to pursue.
    0:04:01 We’re designed to grow, to keep getting after things.
    0:04:04 When you think about it from an evolutionary perspective,
    0:04:07 you would be hardwired to do the things
    0:04:09 that are gonna keep you alive long enough
    0:04:10 to have kids that have kids.
    0:04:13 And so hard work contributing to the group,
    0:04:16 facing difficult tasks, making progress.
    0:04:18 Like all of those things are hardwired.
    0:04:22 So the things that you do either make good
    0:04:23 on those evolutionary algorithms
    0:04:26 that you have running in your brain that say like,
    0:04:27 hey, you’ve just been lazy.
    0:04:28 I don’t feel good about that.
    0:04:30 Or whoa, like you really did something
    0:04:32 and it helped a lot of people.
    0:04:33 You’re gonna feel great about that.
    0:04:38 So in that sense, what you do becomes a critical component.
    0:04:40 So the way I like to explain it is
    0:04:42 we are both the shout and the echo.
    0:04:45 So we’re the things that we do, that’s the shout.
    0:04:48 And then we’re what the world tells us they feel
    0:04:49 about the thing that we did.
    0:04:51 And anybody that thinks that they can escape,
    0:04:55 that sense of like that feedback impacts me in some way
    0:04:56 is delusional.
    0:04:57 You are going to be impacted.
    0:04:58 Now you wanna keep it in balance.
    0:04:59 You don’t wanna let that get out of hand
    0:05:02 where you only live for the validation of others.
    0:05:03 But we are a social animal.
    0:05:08 And so you will be impacted by what other people think.
    0:05:10 – And so something that I know about your journey
    0:05:12 is that at certain points in your journey,
    0:05:17 you worked really hard, like 120 hours a week at some point.
    0:05:19 And you didn’t really have so much work-life balance.
    0:05:23 So how has your mindset changed regarding the way
    0:05:26 that you prioritize work and life?
    0:05:29 – To be honest, it hasn’t changed in a very long time.
    0:05:31 And so when I was working the 120 hours a week,
    0:05:33 which was a couple of years ago,
    0:05:36 I knew that I was making a short-term error
    0:05:38 for a long-term gain.
    0:05:40 And it really did though get to the point
    0:05:42 where I was beginning to damage my marriage.
    0:05:44 And that’s always my barometer of, okay,
    0:05:46 if my marriage is really the most important thing
    0:05:48 in my life, simply because it is yielded,
    0:05:50 the most return on my investment,
    0:05:51 then I needed to make a change.
    0:05:53 And so at the height of all that,
    0:05:55 I pulled my wife aside and said,
    0:05:57 “Look, I will find my way back to you.”
    0:05:59 And it just became about putting business processes
    0:06:01 in place that I could hand things off
    0:06:02 that I wasn’t trying to do everything myself.
    0:06:04 And so it’s like, look, at the same time,
    0:06:06 it was, it’s the period in my life
    0:06:09 that I’m probably the most proud because it,
    0:06:11 if the world was ever going to break me,
    0:06:13 that was going to be the moment.
    0:06:15 And so it didn’t, and I kept pushing forward
    0:06:17 and I got the business to where it needed to be.
    0:06:21 And I got back into the rhythm of prioritizing my marriage.
    0:06:24 And so look, it was not a period without its consequences.
    0:06:27 But if you’re very cognizant of that,
    0:06:29 if you engage in my case with both the business
    0:06:33 and the marriage to communicate, okay, business,
    0:06:34 this is what we’re gonna have to do.
    0:06:35 We’re gonna have to get people in
    0:06:37 that replace these different elements.
    0:06:38 We’re gonna have to create new processes
    0:06:40 so that this isn’t so manual.
    0:06:42 And then dear wife,
    0:06:44 we’re gonna need to start setting aside some time.
    0:06:46 I need a couple more months
    0:06:48 to like really put these processes in place.
    0:06:50 But if you can just bear with me until this time,
    0:06:52 I won’t be working these stupid hours anymore.
    0:06:55 And so because I was able to make a promise,
    0:06:57 make good on that promise,
    0:06:59 and then she could see the results
    0:07:00 that I was yielding in the business.
    0:07:02 So it’s like through communication,
    0:07:03 all things are possible.
    0:07:06 So I don’t believe in balance.
    0:07:09 The cheesiest way to say it is I believe in harmony.
    0:07:13 The more accurate way to say it is goals make demands.
    0:07:16 And as long as you’re executing in priority order,
    0:07:18 then you can have everything you want,
    0:07:23 but you can be very efficient in what you get done
    0:07:25 by just saying, okay, this is the most important thing
    0:07:26 that I can do based on my goals
    0:07:27 and where I wanna end up.
    0:07:29 This is the second most important,
    0:07:31 so on and so forth down the list.
    0:07:34 And if it’s integrated with a marriage and friendship
    0:07:36 and things like that, you’ll be fine.
    0:07:38 But most people, and this is really like,
    0:07:40 hey, dear everybody listening,
    0:07:42 if you wanna know one problem I see over and over and over
    0:07:45 is people allow themselves to get overwhelmed.
    0:07:50 There is not an amount of things barring a hot war
    0:07:51 where people are literally getting shot
    0:07:52 and dying around you.
    0:07:56 There’s nothing that should be able to overwhelm you.
    0:07:59 And so overwhelm is about an expectation
    0:08:00 that you are putting on yourself
    0:08:02 that you can carry an infinite load
    0:08:06 that triggers a psychological revving up
    0:08:08 of you trying to track every variable.
    0:08:12 And the reality is that I don’t ever get overwhelmed
    0:08:14 even when I was working 120 hours a week
    0:08:16 and it was a massive physical toll.
    0:08:18 There was never the additional layer
    0:08:21 of I’m mentally breaking because I just,
    0:08:22 it’s all about priorities.
    0:08:25 I have them in priority order, I draw a dotted line
    0:08:26 and say the things below the dotted line
    0:08:29 just are not going to be addressed right now.
    0:08:31 And I’m able to just shut that door.
    0:08:33 And what I find is people are not able to shut the door
    0:08:36 on the things that exceed the number of hours
    0:08:37 that they’re willing to work.
    0:08:39 And so they’re trying to track everything,
    0:08:42 even the things that are what I call dormant priorities.
    0:08:43 And that’s the thing that drives them crazy.
    0:08:46 And you literally just have to do what’s known
    0:08:47 in behavioral cognitive therapy
    0:08:50 as cognitive behavioral therapy, excuse me,
    0:08:52 as a pattern interrupt.
    0:08:55 And so like anybody, I get that initial impulse of like,
    0:08:58 oh my God, like I can feel my brain speeding up.
    0:09:00 And that’s when I say to myself, I don’t do overwhelm.
    0:09:03 And then I do diaphragm breathing
    0:09:06 and I slow down ironically and then slowing down
    0:09:09 rather than trying to speed up to do everything.
    0:09:10 It just dissipates.
    0:09:13 And I thought this would be something
    0:09:15 I could just tell people about, they would adopt it
    0:09:16 and it would be great.
    0:09:18 And I see people get overwhelmed all the time.
    0:09:21 – I feel like so many entrepreneurs get overwhelmed
    0:09:22 and it’s so true what you’re saying,
    0:09:27 overwhelm is a feeling that is maybe not necessarily real.
    0:09:29 We can only do so many things.
    0:09:32 And so if we just prioritize what we’re doing
    0:09:33 and set some boundaries,
    0:09:36 then we shouldn’t necessarily get overwhelmed.
    0:09:38 It also helps that you have a wife
    0:09:42 where you guys are very communicative about your goals.
    0:09:44 You both set out to be entrepreneurs.
    0:09:47 You’ve decided to do things like not have children
    0:09:49 so you can be successful entrepreneurs.
    0:09:53 So do you feel like the relationship that you chose
    0:09:57 with your wife also helps you be a better entrepreneur?
    0:09:58 – No doubt about that.
    0:10:01 My marriage has given me more of everything
    0:10:03 that you could want than anything else.
    0:10:05 So my wife has certainly made me a better person.
    0:10:07 I do not know who I would be if I had not met her.
    0:10:10 I met her in my early 20s.
    0:10:13 And we’ve been together for 24 years, married for over 22.
    0:10:15 It’s crazy.
    0:10:16 Yeah, it’s extraordinary.
    0:10:17 Absolutely.
    0:10:18 And having somebody that supports you
    0:10:19 and having somebody that sees things
    0:10:21 that you would otherwise be blind to,
    0:10:23 somebody that instead of getting on their knees
    0:10:25 and crying with you when things are going rough,
    0:10:26 they’re like picking you back up
    0:10:29 and reminding you who you are and brushing your shoulders up.
    0:10:33 My wife has given me the Jerry Maguire speech many times
    0:10:36 to get me back in the game when you’re starting to flag.
    0:10:39 So that’s really been incredible.
    0:10:42 Being self-aware and having a partner
    0:10:45 that is also self-aware and that can talk with you
    0:10:48 and lay options out and help you problem solve,
    0:10:52 that’s really the thing that I would give the credit to.
    0:10:55 And so you don’t necessarily need a significant other.
    0:10:58 It helps, it’s wonderful and I encourage it for everybody.
    0:11:01 But I don’t want people to feel like that’s out of reach
    0:11:03 simply because you don’t have a partner
    0:11:04 ’cause it ultimately comes down to
    0:11:07 what are the beliefs that you hold that are choices?
    0:11:09 What are the values that you hold?
    0:11:10 Those are choices.
    0:11:13 And if you live by your beliefs and your values
    0:11:16 and your beliefs and values are positive
    0:11:17 and they move you in the right direction,
    0:11:18 you’re gonna be fine.
    0:11:20 Now, if you have a significant other
    0:11:22 to reinforce it all even better,
    0:11:24 that’s certainly not necessary.
    0:11:27 So we were just talking about how entrepreneurship
    0:11:29 can be a little bit overwhelming.
    0:11:33 I mean, you were building a new virtual world, right?
    0:11:34 That’s a very complex thing
    0:11:36 that I’m sure took a lot of dedication.
    0:11:39 There was a lot of experimentation, a lot of challenges.
    0:11:42 And I’m sure a failure along the way.
    0:11:44 So as a seasoned entrepreneur
    0:11:46 who has built many different successful companies,
    0:11:49 how are you approaching failure now?
    0:11:52 – Well, so failure, the only right way to approach it
    0:11:54 is to approach it like AI.
    0:11:56 So when AI is trying to learn a pattern,
    0:11:59 which is essentially what all of us are trying to do,
    0:12:01 it tries a thing and it gets a result.
    0:12:03 And it’s not like, I mean, you can’t imagine the AI
    0:12:05 having like an emotional breakdown.
    0:12:07 Oh my God, like I tried to play this video game
    0:12:08 and it didn’t work.
    0:12:09 It’s like the AI just goes,
    0:12:11 okay, I’m trying to learn the rules of the game
    0:12:12 and I move the paddle this way
    0:12:14 and I don’t make contact with the ball.
    0:12:15 I don’t get any points.
    0:12:16 So what if I move over here
    0:12:17 and then eventually it makes contact with the ball
    0:12:19 and the ball bounces and scores a point.
    0:12:20 It’s like, oh, okay, I see now.
    0:12:23 I have to make contact with the paddle and the ball
    0:12:24 and the ball will then hit this.
    0:12:28 And so you’re just getting what are known in AI as samples.
    0:12:30 So you try a thing, it gives you a piece of data.
    0:12:32 This is a sample.
    0:12:34 Now you know a little bit more about the world.
    0:12:37 And if people understood that you’re running trial and error
    0:12:39 as a way of building up a prediction engine
    0:12:42 so that you know, oh, when I do this, I get this outcome.
    0:12:43 And that really is all life is.
    0:12:45 It’s what I call the physics of progress.
    0:12:47 You’re trying to build a prediction engine
    0:12:49 so that you know when I do this, I get this result.
    0:12:52 And I wanna go to XYZ goal
    0:12:54 and I see what I have to do in order to get there.
    0:12:56 And I’ve got such an accurate prediction engine.
    0:12:59 I can now do all the things that are gonna take me there.
    0:13:02 Now, you can never be guaranteed to arrive at your goal
    0:13:05 because the world is just changing so rapidly.
    0:13:08 But at least if you’re running this exercise
    0:13:10 of the physics of progress,
    0:13:12 you always know what to try next.
    0:13:13 Whether it will work or not
    0:13:15 depends on a whole host of factors.
    0:13:17 But that is really, really useful.
    0:13:21 And failure is a necessary part of that sequence.
    0:13:23 And there’s an amazing guy,
    0:13:26 is the largest hedge fund manager in the world
    0:13:27 named Ray Dalio.
    0:13:28 He’s got a great quote,
    0:13:32 which is pain plus reflection equals progress.
    0:13:34 And so when you fail, it hurts,
    0:13:37 but that sting causes you to reflect and say,
    0:13:39 okay, I wanna feel this way again.
    0:13:40 What did I do last time?
    0:13:41 What was the outcome that I got?
    0:13:44 Let me change my behavior so I can get where I wanna go.
    0:13:46 And as long as you don’t let that emotionally break you,
    0:13:49 then you can hit escape velocity.
    0:13:51 – So something that I’m hearing you say
    0:13:54 is that we need to kind of push past our emotions.
    0:13:55 Like we might feel overwhelmed.
    0:13:56 We might feel stressed.
    0:14:00 We might feel like just everything is out of control.
    0:14:04 How do we push through our emotions to achieve our goals?
    0:14:05 – I would say it slightly differently.
    0:14:08 So I think people should distrust their emotions.
    0:14:09 So this is where you wanna ground
    0:14:12 in the fact that you’re having a biological experience.
    0:14:15 And so I’m gonna ask myself, okay, I feel some kind of way.
    0:14:17 Why do I feel the way that I feel?
    0:14:19 If you’re really gonna go macro,
    0:14:21 this is evolution only has two levers.
    0:14:22 Pleasure and pain.
    0:14:23 Evolution has one goal.
    0:14:25 To make sure that you survive long enough
    0:14:26 to have kids and to have kids.
    0:14:29 Okay, so I’m doing something right now that hurts.
    0:14:30 That means I’m doing a thing
    0:14:33 that evolution does not want me to keep doing.
    0:14:34 Or I’m doing something pleasurable.
    0:14:36 This is something that evolution wants me to keep doing.
    0:14:39 Okay, now if my goal is not focused
    0:14:41 on having kids that live long enough to have kids,
    0:14:42 I have some different goal,
    0:14:44 then those emotions might not be what I need
    0:14:45 to reach my goal.
    0:14:47 And this is what I see all the time.
    0:14:51 People confuse feeling with thinking.
    0:14:53 Don’t make that mistake, boys and girls.
    0:14:54 Feeling is not thinking.
    0:14:59 So feelings are literally a very high bandwidth communication
    0:15:03 from the part of your body and your subconscious mind
    0:15:07 that can read a lot of points of data very, very quickly.
    0:15:10 But it’s hard to translate that into conscious thought,
    0:15:14 into words, even more narrow of a data pipe.
    0:15:16 And so you just get a feeling, right?
    0:15:17 Tiger and bush run.
    0:15:18 You don’t have to like think through it.
    0:15:19 In fact, you may not even get to tiger.
    0:15:20 You just have a sense.
    0:15:22 I need to get out of here right now.
    0:15:23 You don’t know why you don’t know what it is.
    0:15:26 Maybe you picked up on a rustling in the bush,
    0:15:28 certain way, you know, a stick cracked.
    0:15:31 And the same is true in relationships, in business.
    0:15:33 You just get this overwhelming feeling.
    0:15:34 Now, if in that moment,
    0:15:36 you realize my life isn’t actually in danger.
    0:15:38 So the fact that I’m having this really strong emotion
    0:15:42 should lead me to pause and go, why am I feeling this?
    0:15:47 And if you can pull that very high bandwidth emotion
    0:15:50 through that low bandwidth pipe into your conscious mind
    0:15:53 and say, oh, this is what all of that is boiled down
    0:15:54 to something very simple,
    0:15:55 which is almost always,
    0:15:57 if you’re having a negative emotion anyway,
    0:15:58 it’s almost always an insecurity.
    0:16:01 So I’m worried if I don’t get this right,
    0:16:03 my business is gonna fail and then I’m gonna lose her.
    0:16:06 I’m a loser and my parents are gonna disown me
    0:16:08 or my girlfriend is gonna break up with me, whatever.
    0:16:11 And it’s all happening again, based on that level of emotion.
    0:16:14 If you can slow down and say, hold on, that’s overwrought,
    0:16:15 that’s ridiculous.
    0:16:18 This is one of many things that I need to think through.
    0:16:20 I can make a lot of mistakes and still be fine.
    0:16:21 I do need to be thoughtful.
    0:16:24 I need to learn my lessons, but people don’t do that.
    0:16:26 They get mad and they react mad
    0:16:28 and then that makes things worse.
    0:16:30 And they never take the time to say, why am I mad?
    0:16:32 Oh, wow, this is an insecurity,
    0:16:35 not anything positive or empowering.
    0:16:39 This is an emotion designed to mask the underlying thing.
    0:16:40 – I know a lot of entrepreneurs
    0:16:41 that are tuning into the show.
    0:16:46 Like we’re talking right now about challenges, failure,
    0:16:50 trying to not trust our emotions, like you said.
    0:16:52 And I know that you talk,
    0:16:54 or at least in the past you’ve mentioned before,
    0:16:57 you might have changed your approach to this,
    0:17:00 but you take a first principles approach to thinking.
    0:17:02 Can you talk to us about what that is?
    0:17:05 – Yeah, and if I ever change my first principles approach,
    0:17:07 you should be the first to come punch me in the mouth.
    0:17:10 So first principles is quite literally
    0:17:11 the only way to think.
    0:17:13 It is at its simplest.
    0:17:16 It is trying to get to the fundamental base reality
    0:17:19 that we all live in, which we are shockingly bad at.
    0:17:20 And I can explain why later,
    0:17:23 but the idea is don’t reason from analogy,
    0:17:25 reason up from physics.
    0:17:29 So the great example of this is Elon Musk saying,
    0:17:32 hey, for us to make a electric car
    0:17:35 that is priced to a place
    0:17:37 where the average person can afford it,
    0:17:38 we have to completely reinvent
    0:17:40 the way the batteries are made.
    0:17:41 Now, when they went around to everybody,
    0:17:43 everyone’s just like, but this is the cost of batteries.
    0:17:44 And he was like, well,
    0:17:46 does it violate the laws of physics
    0:17:47 to lower the cost of batteries?
    0:17:49 It might, if you go and look at what it costs
    0:17:50 to get it out of the ground and all that stuff
    0:17:53 and to mine it and you may be like, yeah,
    0:17:55 this is just it and there’s no way to get any cheaper.
    0:17:57 But when he looked at it, he realized, whoa,
    0:17:58 there’s like all these markups along the way
    0:18:00 we could actually get closer to the source.
    0:18:01 We can do them for a lot cheaper.
    0:18:03 Cool, same thing happened to me at Quest.
    0:18:06 We took our formulation for a protein bar
    0:18:09 to the manufacturers and they said, this bar can’t be made.
    0:18:12 And we’re like, hold on, does manufacturing this bar
    0:18:13 actually violate the laws of physics?
    0:18:15 Like that doesn’t seem true.
    0:18:18 And so we went and looked at it and long story short,
    0:18:20 we realized what was happening is
    0:18:23 because the government subsidized corn.
    0:18:26 Everybody used high fructose corn syrup
    0:18:27 in their products as a sweetener.
    0:18:29 It’s cheap, it’s delicious.
    0:18:32 So all the equipment that had been manufactured
    0:18:35 over like the last 70 years could be made
    0:18:37 with the assumption that all the products
    0:18:39 that would run on it would have high fructose corn syrup.
    0:18:41 So this government intervention
    0:18:44 had all these downstream effects that nobody thought of.
    0:18:45 So when we said, well, wait,
    0:18:47 it’s not that the bar can’t be made,
    0:18:49 it’s that we would have to engineer our own equipment.
    0:18:52 And so by being willing to engineer our own equipment
    0:18:53 and becoming our own manufacturer,
    0:18:54 suddenly it wasn’t impossible,
    0:18:57 it was just impossible with that equipment.
    0:19:01 And so by thinking from first principles of, okay,
    0:19:03 this bar only takes a certain amount of pressure
    0:19:05 to put down, the bar has a certain viscosity,
    0:19:08 the bar has a certain level of stickiness.
    0:19:10 So what could we re-engineer on the equipment
    0:19:14 to deal with the deviations from a standard product
    0:19:15 to our product?
    0:19:17 And once you engineer equipment
    0:19:18 with those different tolerances,
    0:19:19 now it produces just fine.
    0:19:21 And that ends up being one of the reasons
    0:19:22 that we are very successful.
    0:19:24 So that’s thinking from first principles.
    0:19:26 You’re not allowing anybody
    0:19:28 to hand you a frame of reference.
    0:19:30 When people say, think outside the box,
    0:19:33 what they mean is you’ve been handed a frame of reference.
    0:19:36 You see the entire world through that frame of reference.
    0:19:39 And you don’t realize it’s artificially limited
    0:19:42 because it’s all shorthand, it’s all analogy,
    0:19:45 instead of saying, well, hold on,
    0:19:46 this is just how we view the world.
    0:19:50 It’s not necessarily how the world actually is.
    0:19:53 And so let me, again, go back down to base physics
    0:19:54 and build up from that.
    0:19:57 And if you sell an info product or something like that,
    0:20:00 start with human psychology and build up from that.
    0:20:03 But don’t let anybody tell you something is impossible
    0:20:06 unless it legitimately violates the laws of physics.
    0:20:08 – What do you mean start with human psychology
    0:20:09 for info products?
    0:20:10 ‘Cause I think I have a lot
    0:20:12 of like online entrepreneurs listening.
    0:20:14 – So I don’t want people to feel like
    0:20:16 this is an exercise where it’s like, oh my God,
    0:20:20 do I really have to go back to quarks and bosons
    0:20:21 and all that stuff,
    0:20:23 which we don’t even fully understand anyway.
    0:20:27 So most of the time when I’m running this experiment,
    0:20:29 it’s for something for sales and marketing.
    0:20:31 And so forget all the early stuff.
    0:20:34 Just get to how does a human mind operate?
    0:20:36 What do people look for in products?
    0:20:37 Like what is the truth?
    0:20:39 The inescapable truth of the human mind.
    0:20:41 So like, for instance,
    0:20:43 people don’t make decisions rationally,
    0:20:44 they make them emotionally.
    0:20:46 I mean, I can just tell you that from the architecture
    0:20:49 of the human mind standpoint, that is true.
    0:20:51 And so once you get to that, it’s like,
    0:20:53 oh, well you may want to sell this product
    0:20:54 on features and benefits,
    0:20:56 but it won’t work because that’s not the architecture
    0:20:57 of the human mind.
    0:20:59 So now instead of like,
    0:21:02 if you’re looking at somebody else in your field
    0:21:03 and you think, well,
    0:21:05 they’re doing it as good as it can be done.
    0:21:06 Well, not necessarily.
    0:21:09 What are they missing in terms of their approach?
    0:21:12 That would allow you to get more bang for your buck.
    0:21:15 If you go back to instead of the frame of reference
    0:21:16 that they’re handing you and go,
    0:21:17 what do I know to be true
    0:21:19 about the way the human mind works?
    0:21:22 Now you can do something better.
    0:21:25 You can do something different and when,
    0:21:28 because you’re building up from universal truths
    0:21:29 about how people think.
    0:21:31 – Let’s hold that thought
    0:21:33 and take a quick break with our sponsors.
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    0:26:12 So I want to move on to your personal journey.
    0:26:14 I feel like a lot of your philosophies
    0:26:17 about life came from your own struggles
    0:26:19 and learning from them and things like that.
    0:26:21 So when I did research about what you were like
    0:26:24 as a child and a teen, it turns out
    0:26:27 that you self-describe yourself as somebody
    0:26:29 who is naturally lazy.
    0:26:33 And I’d love to learn about what you were like
    0:26:36 as a child and a teen and what kind of self-respect
    0:26:40 or lack of self-respect that you had for yourself back then.
    0:26:42 Okay, so that went in interesting waves.
    0:26:46 So when I was young, I felt very confident in myself,
    0:26:50 but I absolutely lacked self-awareness of any kind.
    0:26:52 And then as I began to develop self-awareness,
    0:26:56 I became incredibly self-conscious and very insecure
    0:26:58 and then was afraid that I wasn’t gonna be able
    0:27:01 to achieve the goals that I wanted to achieve
    0:27:04 because I wasn’t good at the things I needed to be good at.
    0:27:08 And I, at the time, just by default had a fixed mindset.
    0:27:10 So I believe that my talent and intelligence
    0:27:12 were fixed traits and life was just about
    0:27:14 making the most of what I had.
    0:27:17 Now, the honest answer is we are 50% hardwired.
    0:27:20 Like half of what you’re gonna be able to achieve
    0:27:24 is grounded by just the hand that you’ve been dealt,
    0:27:25 but 50% is malleable.
    0:27:29 And so I started really focusing on the part
    0:27:31 that I could change and not worrying
    0:27:34 about whatever was hardwired, it is what it is.
    0:27:37 And so what can I do with that part that I could change?
    0:27:39 And once I started leaning into that,
    0:27:41 then it was like, okay, I didn’t need to believe
    0:27:45 I was special, I just needed to believe that I was average
    0:27:47 and that the average human is actually designed,
    0:27:49 it’s what I call the only belief that matters.
    0:27:51 The average human is designed to get better.
    0:27:53 So if you put time and attention
    0:27:55 into getting good at something,
    0:27:57 you will actually get good at that thing.
    0:27:59 You just have to put the time and attention in.
    0:28:01 So then it’s like, okay, well, my goal makes a demand
    0:28:03 that I be good at XYZ thing.
    0:28:05 Am I willing to go get good at it?
    0:28:07 Because I could certainly just assume
    0:28:10 you can get a hundred times better at anything.
    0:28:11 Am I willing to put the time and energy
    0:28:13 to get a hundred times better
    0:28:15 and is a hundred times better gonna be good enough?
    0:28:17 And if it is and you’re willing,
    0:28:18 then you go down that path.
    0:28:20 And if it’s not, you either stop pursuing that thing
    0:28:23 or you find a partner that can be good at the thing
    0:28:25 that you’ve decided you’re not going to invest in.
    0:28:28 But really getting the lay of the land
    0:28:30 of how the human animal actually works
    0:28:33 was freakishly liberating for me
    0:28:35 because I didn’t have to believe I was born special,
    0:28:38 but it was incredibly encouraging to know
    0:28:42 that I could get better in any aspect of my life.
    0:28:43 – I wanna dig on this a little bit
    0:28:46 because I thought this was one of the most interesting things
    0:28:49 that I learned about you is that you feel
    0:28:52 that free will is an illusion
    0:28:55 or you’ve at least said that before, right?
    0:28:58 – Yes, free will is an illusion though.
    0:29:00 And I mean, is an illusion.
    0:29:03 And if you don’t believe me, read the book Determined,
    0:29:05 it’s an unrefutable take.
    0:29:07 People will try to refute it, but if you read the whole book,
    0:29:09 I mean, he really does attack every answer.
    0:29:10 – Is that Robert Sapolsky?
    0:29:11 – It is.
    0:29:14 – Yes, I had him on the show and we talked about it, yeah.
    0:29:16 – So good, man, so good.
    0:29:17 You’ve got good guests, I like it.
    0:29:19 I’m in good company here.
    0:29:21 So yeah, Robert Sapolsky, absolutely brilliant.
    0:29:23 It’s just a horrifying truth
    0:29:26 that we all think we have free will, but we really don’t.
    0:29:28 But I don’t think it matters.
    0:29:29 And I think if you let it influence your life,
    0:29:30 it will drive you crazy.
    0:29:33 You need to act as if you have free will.
    0:29:34 It’s the only logical way
    0:29:37 because here’s why that matters.
    0:29:39 Even though we are a automata
    0:29:41 that are just responding to things,
    0:29:44 we do respond to ideas and we are changeable
    0:29:45 and we are changed by our surroundings.
    0:29:47 This is why culture just keeps getting
    0:29:49 better and better and better
    0:29:52 because as we learn more, we’re able to do more,
    0:29:56 but there is no ability to escape your biology.
    0:29:57 It’s just not possible.
    0:29:59 Like even the most monk of monks
    0:30:01 has not escaped their biology.
    0:30:04 They’ve leveraged their biology in a pretty fascinating way,
    0:30:06 but they have not escaped their biology.
    0:30:08 And so just as nobody can will themselves to fly,
    0:30:10 they cannot will themselves to think a thought
    0:30:12 that they’ve never thought, if they could,
    0:30:14 then I would say, please solve quantum physics
    0:30:17 because that’s in need of a solve.
    0:30:19 And if they then say, well, but I’m not smart enough,
    0:30:20 it doesn’t have to do a free will.
    0:30:21 Yes, it does.
    0:30:24 You’re just telling me that you’re limited by your biology,
    0:30:25 which we already agree on.
    0:30:27 So I wouldn’t spend a lot of time there,
    0:30:29 but it is true.
    0:30:30 – Yeah.
    0:30:31 So basically what you’re saying is that
    0:30:34 even though there might be biological factors,
    0:30:38 environmental factors are like our own personal history
    0:30:39 that impacts all of our decisions,
    0:30:42 we have the ability to change.
    0:30:44 We have the ability to improve and things like that.
    0:30:45 Yeah.
    0:30:47 I was just gonna say, when I talked to Robert Sapolsky,
    0:30:51 he was really adamant that like nothing is in our control.
    0:30:53 And he basically was saying that,
    0:30:56 if somebody’s poor and poor 20 years later,
    0:30:57 it’s not their fault.
    0:30:59 If somebody is obese and cannot lose weight,
    0:31:00 it’s not their fault.
    0:31:01 If somebody has a drug addiction, it’s not their fault.
    0:31:02 It is their biology.
    0:31:05 It is like out of their control.
    0:31:07 Basically saying that anybody who’s successful
    0:31:08 is basically lucky.
    0:31:09 And to me, I was like,
    0:31:11 I don’t know if I necessarily believe that.
    0:31:14 I feel like everybody has the ability to change.
    0:31:16 – You do have the ability to change.
    0:31:16 The question is,
    0:31:19 do you have the ability to direct that change?
    0:31:22 And I think he is correct.
    0:31:24 I know he is correct that we don’t.
    0:31:26 But here’s the catch.
    0:31:31 That idea is a worse idea for knowing
    0:31:35 that people will respond and change based on ideas.
    0:31:37 So it’s one of those, it is true
    0:31:40 and I never fight against anything that’s true.
    0:31:42 But part of the reason I don’t bang that drum a lot
    0:31:44 is that it’s just not a super helpful idea.
    0:31:47 So I have a goal and that’s human flourishing.
    0:31:50 To get to human flourishing, you have to pursue fulfillment.
    0:31:53 To pursue fulfillment, you need to act as if
    0:31:57 you can change your circumstances and make your life better
    0:31:59 and make the lives of others around you better.
    0:32:03 And if you go down that path,
    0:32:04 you will feel better about your life.
    0:32:06 And if you don’t, you won’t.
    0:32:07 Now, it is just true.
    0:32:09 I can’t stop myself from saying that.
    0:32:11 I am hardwired, I’ve encountered these other ideas
    0:32:13 that make me want to say this.
    0:32:16 But great, I’m still gonna act as if I’m in control
    0:32:18 and it makes my life better.
    0:32:20 And so I have a rule.
    0:32:24 I only do and believe that which moves me towards my goals.
    0:32:27 I’m not trying to create a false picture of the world.
    0:32:30 In fact, I’m trying to get to ground truth.
    0:32:32 However, I know that humans are ridiculously bad
    0:32:35 at identifying what is actually true.
    0:32:38 Therefore, I have to steer by something that I can tell
    0:32:39 and that’s effectiveness.
    0:32:44 So how useful is an idea in getting me where I wanna go?
    0:32:46 And if I, going back to one of your earliest questions,
    0:32:49 if I wanna feel good about myself when I’m by myself,
    0:32:53 what do I need to believe in order to do that?
    0:32:56 And so even though I know I’m just responding
    0:32:58 to my environment and my biology,
    0:33:00 that’s not a good overarching narrative
    0:33:02 because it demotivates me.
    0:33:05 And so it’s true, I just don’t think about it.
    0:33:07 I think about things that motivate me.
    0:33:09 And that has led me to where I wanna go.
    0:33:11 – So free will is an illusion,
    0:33:14 but we need to act as if we’re in control
    0:33:15 and operate from there.
    0:33:18 – As long as you understand need as it relates to,
    0:33:22 it is a more efficient way to get to the goal I have stated,
    0:33:24 which is human flourishing.
    0:33:25 But if somebody has a different goal,
    0:33:27 then it may not be as necessary.
    0:33:30 Like obviously for Robert Sapolsky,
    0:33:32 he’s got a goal that’s more in line with being,
    0:33:37 he would probably sum it up as a moral compassionate being.
    0:33:41 And so he to him, it is a moral violation
    0:33:44 to hold people responsible for their lot in life.
    0:33:47 Whereas for me, it is a moral violation
    0:33:51 to let people roam around the streets, attack people.
    0:33:54 Even though I’m like, sure, it’s not your fault,
    0:33:57 but I don’t care, you can’t roam the streets hitting people.
    0:34:01 So everything is an echo of somebody’s goal,
    0:34:03 whether they realize it or not.
    0:34:04 – Makes sense.
    0:34:08 Okay, so you were saying that you’re naturally lazy
    0:34:11 and you’ve been able to create a billion dollar company
    0:34:14 with quests, you’ve built impact theory.
    0:34:16 How can other people who might feel like
    0:34:18 they’re naturally lazy,
    0:34:21 that they don’t really feel like getting out of bed,
    0:34:23 but they still feel ambitious?
    0:34:26 What are some tips for them?
    0:34:28 – All right, I was just talking about this
    0:34:31 on my Twitch gaming stream this morning.
    0:34:33 So, okay, it goes like this.
    0:34:36 First, you need to know exactly what your goal is.
    0:34:40 You need to care deeply about your goal.
    0:34:42 Like you have to really want it.
    0:34:44 And you can run something I call the loop of desire
    0:34:47 to reinforce that, but you have to know what your goal is,
    0:34:48 you have to really want your goal.
    0:34:51 Then you have to make sure that you’re doing the things
    0:34:54 that are causing you to actually progress towards that goal.
    0:34:56 Tony Robbins talks about how progress
    0:34:58 is a foundational pillar to human happiness.
    0:35:00 Anytime you see something like that,
    0:35:02 you know you’re tapping into those evolutionary algorithms
    0:35:04 that are running in your brain.
    0:35:05 So it just feels good.
    0:35:07 And then on top of that,
    0:35:09 this needs to be something that you have
    0:35:12 a really strong why that you’re doing this.
    0:35:14 So I’m doing this to help these people
    0:35:16 is gonna be the most universal why.
    0:35:18 There’s a group of people you care about
    0:35:19 for whatever reason you care about them.
    0:35:22 And you’re pursuing this thing to help them.
    0:35:25 And now that taps into the evolutionary demand
    0:35:27 that we have that we contribute to the group.
    0:35:30 And so if you want to stop being lazy,
    0:35:32 ironically, that’s the sequence.
    0:35:35 And then one thing I’ll add is you need rules in your life
    0:35:38 just so that you can demarcate whether you’re doing the thing
    0:35:39 that you should be or not.
    0:35:42 So the most important rule I ever put in my life
    0:35:44 was that once I realized I’m awake,
    0:35:46 I get out of bed in 10 minutes or less.
    0:35:48 And I did that because I would lay in bed
    0:35:51 four and five hours a day every day.
    0:35:53 It was, I mean, looking back now, it’s really crazy.
    0:35:57 The heartbreak I feel over how much time I lost.
    0:35:59 So finally, I was just like, this is absurd.
    0:36:01 I’m now ashamed of myself.
    0:36:03 Shame actually ended up being helpful,
    0:36:05 but it was not fun to go through.
    0:36:07 And so once I finally built up enough shame,
    0:36:10 I was like, okay, the only way I can think to break this
    0:36:12 is to set a timer and be like, okay,
    0:36:14 you have to get out of bed no matter what.
    0:36:19 And that one simple rule has been one of the most
    0:36:22 impactful things in my life.
    0:36:23 Such good advice.
    0:36:25 And I know Mel Robbins has that like rule
    0:36:26 where it’s kind of like one, two, three,
    0:36:29 jump out of bed, talking to her soon.
    0:36:30 I’m looking forward to it.
    0:36:31 – Oh, she’s amazing.
    0:36:32 You’re gonna love her.
    0:36:36 – So let’s talk about you joining film school.
    0:36:40 So it’s no wonder that you’ve built this incredible video
    0:36:43 podcast that has been pioneering the industry.
    0:36:46 And film school was really a turning point in your life
    0:36:50 where you started to really turn things around
    0:36:53 and you got really motivated by being in film school.
    0:36:56 But I did learn that you had sort of a catastrophe
    0:37:00 in your senior year that really made you rethink
    0:37:02 the way that you approach yourself and the world.
    0:37:05 Can you share that story with us?
    0:37:07 – Yeah, well, so the catastrophe was just realizing
    0:37:08 that I didn’t have talent.
    0:37:11 So that was gut wrenching.
    0:37:13 So I had a fixed mindset.
    0:37:14 So I believed however good I am now
    0:37:16 is how good I will be forever.
    0:37:18 And that was the mystique of film school was like,
    0:37:21 hey, you’re finding the best of the best.
    0:37:23 And it was like a whittling down process.
    0:37:24 Like, could you get into film school?
    0:37:26 That was the first thing.
    0:37:29 ‘Cause when I went to USC film school,
    0:37:32 it was easier statistically to get into Harvard Law
    0:37:34 than it was to get into USC film school.
    0:37:36 There were just that many people applying.
    0:37:37 And so I got in and I was like,
    0:37:40 oh, maybe I really am this brilliant filmmaker.
    0:37:42 And then you go through these series of classes,
    0:37:44 basically auditioning to see if you can be
    0:37:47 one of the four people chosen to do a senior thesis.
    0:37:49 And I ended up being one of the four.
    0:37:50 And I was like, oh my God, I knew it.
    0:37:51 Like this is my chance.
    0:37:53 Like I’m just everything I’ve ever wanted
    0:37:54 is gonna come true.
    0:37:55 I’m gonna graduate.
    0:37:56 I’m gonna get the three-picture deal.
    0:37:58 I’m the next Steven Spielberg.
    0:37:59 It’s gonna be incredible.
    0:38:00 And I mean, I could taste it.
    0:38:02 And then I made my senior thesis film
    0:38:05 and it was terrible, just objectively terrible.
    0:38:07 On every metric that a film can be terrible,
    0:38:08 it was terrible.
    0:38:10 And I didn’t think, oh, cool, let me break this down
    0:38:12 to what are the things that I’m not good at yet
    0:38:13 that I need to get better at?
    0:38:15 Why was it that the earlier films
    0:38:18 that got me to be one of the four chosen,
    0:38:21 what did I understand about that style of filmmaking
    0:38:22 that I didn’t understand?
    0:38:23 ‘Cause this is actually a pretty big leap
    0:38:25 in style of storytelling.
    0:38:27 I would say naturally I had an intuition
    0:38:30 for silent storytelling that I did not have
    0:38:32 once you bring in dialogue and all of that.
    0:38:34 But at the time I couldn’t understand that.
    0:38:35 I was just like, oh my God,
    0:38:36 like I’m actually not good at this.
    0:38:38 I thought I was, but apparently I’m not.
    0:38:42 And so that was as close to an existential crisis
    0:38:45 as I have ever been.
    0:38:47 Because I thought that was gonna be my whole life.
    0:38:49 That was the death of a dream that I had.
    0:38:51 I mean, when you’re, you know, whatever 22,
    0:38:52 you feel like, wait,
    0:38:55 my whole life has been pointed towards this.
    0:38:57 I thought this was gonna be the next 60 years of my life
    0:38:59 and it’s just dead.
    0:39:02 And then you find yourself selling insurance door to door.
    0:39:04 So I was like, whoa,
    0:39:07 it was one of those my how the mighty have fallen
    0:39:10 because I went from being celebrated at film school.
    0:39:12 I graduated second in my class.
    0:39:15 It was like, yo, this guy’s really gonna do something
    0:39:19 to actually hold on, no embarrassing.
    0:39:20 Everybody knew my film was bad.
    0:39:22 It was not like, oh, this is me being hard on myself.
    0:39:25 Everyone was like, oh God, that was like a train wreck.
    0:39:28 So it was emotionally devastating
    0:39:30 and I had no idea what to do.
    0:39:33 And then thankfully between Tony Robbins
    0:39:36 and some stuff about brain plasticity
    0:39:39 and which now of course we would call a growth mindset
    0:39:41 but Carol Dweck had not written that book yet.
    0:39:43 Unfortunately for me.
    0:39:46 So start reading about brain plasticity.
    0:39:47 Realize, wait a second,
    0:39:49 maybe it is possible to change and get better.
    0:39:51 I start teaching film and I realized, wait,
    0:39:54 I’m helping these students make their films better.
    0:39:57 Why couldn’t I help myself make my own films better?
    0:39:58 And so then I was like, oh my God,
    0:40:01 this is a game of skill acquisition.
    0:40:03 And so then the things we’ve been talking about now
    0:40:06 start coming together as my belief system.
    0:40:07 And I realized, okay, wait a second,
    0:40:09 if I can get better then this is about
    0:40:11 putting time and energy into getting better.
    0:40:13 And so I just poured myself into that,
    0:40:15 poured myself into it from a film perspective,
    0:40:18 poured myself in from a business perspective
    0:40:19 and the rest is history.
    0:40:23 My life is what happens when you answer the question,
    0:40:26 how far am I willing and able to go
    0:40:28 if I get a hundred times better
    0:40:31 at a small number of things that really matter to my goals.
    0:40:32 – This is really interesting
    0:40:36 because you basically got the motivation
    0:40:37 to get better at film.
    0:40:39 And earlier you were mentioning that
    0:40:41 this is called the loop of desire.
    0:40:43 Could you break down what that is exactly?
    0:40:45 – Yeah, the loop of desire is really basic.
    0:40:48 So you are having a biological experience.
    0:40:52 Your brain responds to certain things in a certain way.
    0:40:55 One very key thing to understand about your brain
    0:40:57 is you become whatever you repeat
    0:40:59 because of a process called myelination.
    0:41:02 So myelination is the wrapping of fatty tissue
    0:41:06 around the connections of the neurons in your brain.
    0:41:09 So any emotions you feel, any thoughts you think,
    0:41:11 they will become easier for you to think
    0:41:14 and therefore will be the things you keep repeating.
    0:41:16 So the more you repeat something,
    0:41:17 the more you repeat something.
    0:41:19 So be careful what you repeat.
    0:41:21 So understanding that,
    0:41:24 that whatever I repeat is going to solidify in my mind.
    0:41:27 So what if I intentionally repeat something positive?
    0:41:28 Cool, so let’s try that.
    0:41:32 Then there is your brain will justify
    0:41:36 whatever amplitude of emotion you display.
    0:41:39 So if you freak out, your brain goes,
    0:41:41 whoa, I guess this really matters.
    0:41:44 So I was like, okay, well, then if I repeat
    0:41:46 a really high emotional state,
    0:41:48 every time I talk about my goal,
    0:41:50 would it begin to myelinate?
    0:41:54 Such that now whenever I talk about it,
    0:41:55 I get that big emotional response.
    0:41:58 So at first it felt like I was faking it.
    0:41:59 And then six months later,
    0:42:00 whenever I would talk about it,
    0:42:03 I would feel that sense of like passion and excitement.
    0:42:05 I was like, I can’t believe this works.
    0:42:10 So be careful ’cause you can align yourself to dumb things.
    0:42:12 So if you pick a goal that’s honorable,
    0:42:14 that is legitimately exciting to you
    0:42:17 and then talk to yourself about it,
    0:42:19 what you’re gonna achieve, what you’re gonna do,
    0:42:21 and like with that feeling of passion and excitement
    0:42:24 that you hope one day you will feel naturally.
    0:42:25 And then when you talk to other people,
    0:42:27 which is even easier than talking to yourself,
    0:42:31 same thing, you embody, embody the emotion you wanna feel
    0:42:33 and do that over and over and over.
    0:42:35 And then at least in my experience,
    0:42:37 I would call it four to six months later.
    0:42:38 Now you can just be talking about it normally
    0:42:40 and you get that sense of like,
    0:42:41 oh man, this is really important to me.
    0:42:42 This is really exciting.
    0:42:45 You’re like, wow, it’s so crazy because six months ago,
    0:42:47 I was interested, like it was legitimate.
    0:42:50 I didn’t try to tie it to like, I really love grass.
    0:42:54 Like it’s something you already have an interest in.
    0:42:55 But by doing that,
    0:42:57 now you’ve got the impetus to gain the skills.
    0:42:59 And by having that initial burst of energy
    0:43:02 married with getting the actual skill set,
    0:43:03 now you can make progress.
    0:43:06 When you’re making progress, then passion kicks in.
    0:43:07 But you’re not gonna get to passion
    0:43:10 until you’re actually able to use that skill
    0:43:12 in the real world to get feedback from other people.
    0:43:14 You were the shout in the echo.
    0:43:16 People are telling you, hey, you’re improving my life
    0:43:17 by that thing you do.
    0:43:19 That thing you do could be podcasting.
    0:43:21 That thing you could do could be building a video game
    0:43:22 like I’m doing now.
    0:43:23 It could be accounting, whatever,
    0:43:25 but people give you positive feedback.
    0:43:29 This is why so often adults are pursuing something
    0:43:32 that they first got that positive feedback on as a kid.
    0:43:35 We’ll be right back after a quick break from our sponsors.
    0:43:41 Okay, let’s talk about storytelling
    0:43:44 because you went to film school,
    0:43:46 now you are running Impact Theory,
    0:43:48 which is a huge platform.
    0:43:50 And I know a lot of what you do with Impact Theory
    0:43:55 is really storytelling to bring about impact.
    0:43:56 So talk to us about what you’ve learned
    0:43:58 about storytelling both at school
    0:43:59 and then of course in the real world,
    0:44:01 building impact theory
    0:44:03 and how we can use storytelling in our businesses
    0:44:05 to attract customers.
    0:44:10 – Okay, so at Quest, we had 3,000 employees
    0:44:13 and 1,000 of them that grew up in the inner cities.
    0:44:15 And I thought, hmm, these guys are smart.
    0:44:17 Some of them smarter than me,
    0:44:19 but they’re not doing anything with their lives.
    0:44:20 And when I started asking them like,
    0:44:22 hey, why aren’t you doing this out of the other?
    0:44:24 The answers that came back were just ridiculous.
    0:44:28 And so I was like, this is not a intelligence problem.
    0:44:29 This is an idea problem.
    0:44:33 So I started what I then called Quest University.
    0:44:34 And I was like, let me teach you everything
    0:44:36 I know about entrepreneurship.
    0:44:37 One, it will just be good for your life.
    0:44:39 You can go on to work for any company at that.
    0:44:42 Like if you can master the skills that I’m teaching you guys,
    0:44:43 you’ll be able to work anywhere.
    0:44:45 Now, my hope of course is that you stay here
    0:44:47 because you realize I care about your future
    0:44:49 more than your own mother,
    0:44:52 but you’ll be empowered, you can go anywhere that you want.
    0:44:53 And I poured my heart and soul into it.
    0:44:55 I came early, I stayed late.
    0:44:58 And we’ve had people start other companies
    0:45:02 that are still running to this day almost a decade later.
    0:45:04 Absolutely incredible, I love it the most.
    0:45:07 The only catch is it was only 2% of the people
    0:45:12 that I brought those ideas to, 98% did nothing.
    0:45:14 And so I really started to get obsessed with,
    0:45:17 okay, what would we have to do to reach the 98%?
    0:45:20 And I very quickly realized you have to bypass
    0:45:21 the logical centers of their brain.
    0:45:24 You can’t just say, think like this, act like this.
    0:45:27 You’ve got to really get into the storytelling of it all.
    0:45:29 And I mean, look, when you see political campaigns
    0:45:31 and stuff like that, that’s exactly what they’re doing.
    0:45:32 They’re telling a story.
    0:45:35 Stories simplify things and they focus attention.
    0:45:38 And that is the magic of storytelling.
    0:45:42 This is exactly how humans are able to come together
    0:45:44 in these gigantic, flexible groups
    0:45:46 with people they’ve never even met and cooperate.
    0:45:47 You have shared stories.
    0:45:49 It could be shared story of a nation state.
    0:45:52 Could be shared story of a religion,
    0:45:55 but you need some sort of shared story to pass on values,
    0:45:59 to pass on identity, to give people a unified narrative.
    0:46:03 So for better or worse, humans are a meaning making machine
    0:46:07 and stories allow you to transmit meaning.
    0:46:10 So they’re just a mechanism by which you simplify things
    0:46:12 enough to extract meaning from.
    0:46:13 So we do it all the time.
    0:46:18 When we stub our toe on the coffee table, we tell a story.
    0:46:20 We’re an idiot because we don’t pay attention enough
    0:46:23 to our surroundings and that’s what stubbing our toe means.
    0:46:25 Or you could tell yourself the story of,
    0:46:27 man, I’m so hardcore.
    0:46:29 I probably broke my toe just now, but I don’t stop.
    0:46:30 I don’t quit.
    0:46:32 I’m the kind of guy that keeps pushing forward.
    0:46:34 So it all comes down to what’s the story
    0:46:36 that you tell yourself about that thing.
    0:46:39 So it isn’t what happens, it’s what it means.
    0:46:41 And once people understand what it means,
    0:46:43 you’re telling yourself that story.
    0:46:44 Someone may have said it from the outside,
    0:46:46 but you decided that that’s what you were gonna repeat.
    0:46:48 That’s where you were going to adopt.
    0:46:49 So whether you’re a marketer,
    0:46:51 whether you’re just trying to lead your own team,
    0:46:52 you’ve got to tell them a story.
    0:46:54 This is why every company needs a mission.
    0:46:57 Your mission statement is about galvanizing your team.
    0:46:59 It’s about telling the consumer what it means
    0:47:03 to buy your product, what they’re sort of becoming a part of.
    0:47:05 And then in your marketing, you wanna tell something
    0:47:07 that’s simple enough that people can remember it
    0:47:08 like it’s a story.
    0:47:11 And oftentimes just literally telling a story
    0:47:15 inside of your marketing is one of the most
    0:47:16 useful things that you could do.
    0:47:18 A couple of times in this interview,
    0:47:20 you’ve asked me to tell stories for my childhood or whatever.
    0:47:23 And so we all just resonate to story.
    0:47:26 So in the same way that when humans look at an image,
    0:47:28 we look for eyes.
    0:47:31 When people are hearing, okay, this thing happened,
    0:47:32 they’re looking for the story in it.
    0:47:34 And so if you reveal character through it,
    0:47:35 if you reveal a moral through it,
    0:47:37 people are gonna remember it way more
    0:47:39 than if it’s just a list of facts.
    0:47:42 This is why humans get so bored in high school history,
    0:47:44 only to later discover through, you know,
    0:47:46 like a hardcore history episode.
    0:47:48 Actually, history is amazing,
    0:47:51 but history is only amazing when you tell it like a story.
    0:47:52 If you tell it like a story, it’s fascinating.
    0:47:55 You tell it like disembodied facts and figures,
    0:47:57 not interesting at all and hard to remember
    0:48:00 because that’s not the architecture of the human mind.
    0:48:02 – Storytelling is so powerful in business
    0:48:03 and personal relationships.
    0:48:06 I feel like storytelling is a skill that everybody
    0:48:08 could improve and continually improve.
    0:48:11 So speaking of stories, I wanna hear the story
    0:48:13 of you becoming an entrepreneur.
    0:48:14 Was it not being an entrepreneur something
    0:48:18 that you always imagined or did it kind of just happen?
    0:48:19 – Well, didn’t just happen,
    0:48:21 but it was not something I ever thought I would do.
    0:48:25 So you heard the story of me graduating film school
    0:48:28 and things not going well.
    0:48:32 I met these two entrepreneurs and they were bang on the money
    0:48:33 and they said, look, you’re coming to the world
    0:48:34 with your hand out.
    0:48:36 And if you wanna control the art,
    0:48:38 you have to control the resources.
    0:48:40 So if you wanna build a studio,
    0:48:41 you wanna tell your own stories,
    0:48:44 you should get into business and get rich.
    0:48:46 And I was like, oh man, that’s so smart.
    0:48:49 I can’t believe I didn’t think about that before, brilliant.
    0:48:53 And this is like right before the tech bubble burst.
    0:48:56 So I was like, oh word, man, I’m gonna get into tech,
    0:48:59 take 18 months, build a company, sell it, all’s good,
    0:49:01 be able to make my own movies.
    0:49:03 And that didn’t work.
    0:49:07 So 18 months turned into 15 years, but it did work.
    0:49:10 And so that obviously ends up being incredible.
    0:49:14 And during that journey, I end up finding stroke,
    0:49:18 constructing the reason that I was gonna make films.
    0:49:20 So instead of just doing it ’cause I like stories,
    0:49:24 it became who am I gonna help impact theory arises.
    0:49:25 It’s literally called impact theory
    0:49:27 because my theory on how to impact people
    0:49:29 at scale is through story.
    0:49:31 So putting empowerment at the center of it
    0:49:33 becomes the whole jam.
    0:49:35 So I got into business strictly
    0:49:37 so that I could control my own destiny.
    0:49:39 But I learned a very powerful lesson,
    0:49:42 which is I can guarantee you’re gonna struggle,
    0:49:44 but I cannot guarantee you’ll be successful.
    0:49:46 And so you better struggle well.
    0:49:48 And so I stopped asking myself
    0:49:51 what I think is the worst question people could ask,
    0:49:54 which is what would I do if I knew I couldn’t fail?
    0:49:57 Because failure is the most likely outcome.
    0:49:59 So I started asking myself,
    0:50:03 what would I do and love every day, even if I were failing?
    0:50:07 And so that’s why impact theory is literally architected
    0:50:09 from the ground up to be the things that, man,
    0:50:12 if I’m gonna fail at something, I wanna fail at this thing.
    0:50:16 So that has improved my life immeasurably,
    0:50:18 but do keep in mind I’m saying that
    0:50:22 after having the gigantic financial success.
    0:50:24 So if I had to do it all over again,
    0:50:27 I would very much go straight into storytelling.
    0:50:30 I would not go into business first, for sure,
    0:50:34 because it really is true that your network is your net worth.
    0:50:36 These are gonna be the people that open doors for you and stuff.
    0:50:39 And so I’m having to completely reinvent myself,
    0:50:41 meet all the new people, all that.
    0:50:44 And it’s added a decade to my journey.
    0:50:46 So I could have gotten it done a lot faster.
    0:50:49 Now the problem is going into business
    0:50:51 allowed me to learn all these principles.
    0:50:54 So I don’t waste time lamenting that I didn’t do it,
    0:50:57 but I am not somebody who’s like, I have no regrets.
    0:51:00 Yeah, I would do it differently, but such is life.
    0:51:03 – So you would have started impact theory first
    0:51:05 before the software company, before Quest.
    0:51:07 You would have just went straight to impact theory if you could.
    0:51:09 – No, I would have gone to somebody
    0:51:11 who was living the life I wanted to live,
    0:51:14 which would have been at the time in filmmaking,
    0:51:17 and said, I will work harder and smarter than anyone you know.
    0:51:21 And all I ask in exchange is knowledge and connections.
    0:51:25 So I would literally live in a hovel with five other guys,
    0:51:27 eat the world’s cheapest food,
    0:51:29 do whatever I had to do to get by,
    0:51:32 but so that I could be as close to that person
    0:51:34 as humanly possible.
    0:51:36 I don’t want to work for somebody who works for them.
    0:51:38 I want to be next to them all the time,
    0:51:39 watching how they deal with the world.
    0:51:42 That is insanely useful.
    0:51:44 It’s all the in-between stuff that you would never even know.
    0:51:46 It’s how a deal is structured.
    0:51:48 It’s how to talk to somebody who’s being a dick
    0:51:51 in a meeting, but doing it in a way where it’s like,
    0:51:53 they’re not quite crossing the threshold
    0:51:54 where you can just call it out.
    0:51:56 Like how do you handle things like that?
    0:51:58 Or somebody comes to you and asks for something
    0:52:02 that is clearly they’re reaching beyond
    0:52:04 what they have any right to ask for,
    0:52:06 but they’re kind of in a tough spot.
    0:52:07 And like, do you help them out?
    0:52:08 Do you not?
    0:52:09 Like all of those things,
    0:52:11 when you’re in your early 20s, man,
    0:52:13 you have no idea how to handle all that stuff.
    0:52:14 You might be shooting from the hip,
    0:52:16 but you really don’t have a sense
    0:52:17 of how it’s all gonna play out.
    0:52:19 And when you can watch somebody go through
    0:52:21 all of that soft stuff that’s next to impossible
    0:52:22 to teach in a business school,
    0:52:25 then it’s like, if you can ask the occasional question,
    0:52:27 like, hey, I was really surprised the way you handled that,
    0:52:28 that you’re normally so hard on people,
    0:52:30 but you were really nice just then.
    0:52:32 Like, how do you know when to be hard
    0:52:33 and how do you know when to be soft?
    0:52:35 And if they’re a thoughtful person and can be like,
    0:52:38 okay, well, let me explain why I was doing this here,
    0:52:41 why I did something completely different here
    0:52:43 and how I typically will make those decisions.
    0:52:45 And then to some extent it’s just seeing the patterns
    0:52:47 over and over and over and over and over.
    0:52:48 But you’re not gonna get that when you start
    0:52:51 as a junior, junior, junior, something in a corporation
    0:52:53 where everybody’s afraid of losing their job
    0:52:55 and they’re lying to each other and playing politics.
    0:52:57 It’s all just stupidly nightmarish.
    0:53:00 So what I always tell young people is, look,
    0:53:01 money only monetizes once.
    0:53:03 You can only spend it one time,
    0:53:06 but knowledge and connections monetize forever.
    0:53:09 – So good, I love that advice.
    0:53:11 So Quest Nutrition is a company
    0:53:13 that you started as a side hustle
    0:53:16 and you ended up selling it for a billion dollars.
    0:53:19 So I’m also growing a company called Yap Media
    0:53:20 that’s doing really well.
    0:53:21 We’re the number one business
    0:53:23 and self-improvement podcast network.
    0:53:26 We also have a social agency and it’s doing really well.
    0:53:27 – Let’s go.
    0:53:30 – Yeah, I represent a lot of top podcasters,
    0:53:32 Jenna Kutcher, Amy Porterfield, John Lee Dumas,
    0:53:33 Russell Brunson.
    0:53:34 – That’s amazing.
    0:53:36 That’s a stack of really cool people.
    0:53:37 I love it.
    0:53:39 – I couldn’t imagine selling my company,
    0:53:42 but that’s because I think my company’s making impact
    0:53:45 and it’s really aligned with my values and my future.
    0:53:47 And it feels like everything just feels so aligned
    0:53:49 and fun for me right now.
    0:53:51 But you ended up selling a company.
    0:53:52 That also had a great mission.
    0:53:55 So I’m just curious from your standpoint,
    0:53:56 what made you decide like, okay,
    0:53:57 I’m just gonna sell the company
    0:53:59 and work on something now?
    0:54:02 – Well, the big thing was I only got into business
    0:54:03 so that I could build impact theory.
    0:54:05 So that was always self-evident,
    0:54:08 but we had had so much success
    0:54:10 and my partners and I no longer shared a vision
    0:54:12 on how to grow the company.
    0:54:14 And so I was like, well, we’ve been this successful.
    0:54:17 So I had been building what’s now impact theory
    0:54:18 inside of Quest.
    0:54:19 It was literally called Inside Quest.
    0:54:22 And I said, let me spin out this studio
    0:54:24 into a standalone company.
    0:54:26 They agreed, spun that out.
    0:54:28 And like I said, left Quest on Monday
    0:54:30 and on Tuesday was that impact theory.
    0:54:32 But yeah, that was the whole thing from the beginning.
    0:54:34 The guys that I was partners with back then
    0:54:36 were the ones that had said,
    0:54:37 hey, you’re coming to the world with your hand out.
    0:54:38 You should get into business.
    0:54:41 So it was not a surprise to them.
    0:54:44 So it was a very simple transition.
    0:54:47 And we’ve been at this now for almost a decade.
    0:54:49 It’s crazy.
    0:54:51 – So one of the things that I read
    0:54:53 is that you say that content creation
    0:54:55 is going to completely change.
    0:54:56 You say the world, as you know it,
    0:54:59 as a content creator will end in two years.
    0:55:02 Now, as a content creator, that’s very scary.
    0:55:04 Why do you believe that?
    0:55:08 – So AI tools will make it such that all of the things
    0:55:11 that we use as a moat are gonna go away.
    0:55:14 So it takes a while to master all the tools.
    0:55:16 It takes a while to get all the different people
    0:55:18 on your podcast, all that stuff.
    0:55:20 What’s going to end up happening
    0:55:23 is all of this information is gonna fracture,
    0:55:24 like hyper fracture.
    0:55:26 And somebody will be able to have an idea for a video
    0:55:28 with or without a guest.
    0:55:30 I mean, you could post videos of like,
    0:55:31 here’s my conversation,
    0:55:34 my imagined conversation with Elon Musk, stuff like that.
    0:55:36 And instead of actually needing to get that person
    0:55:39 on your podcast, you just have the AI spin up
    0:55:41 his personality, you ask a bunch of questions.
    0:55:43 And if you do it in a way that the audience
    0:55:45 finds more interesting than the next person,
    0:55:47 then that’s gonna be what it’s gonna be.
    0:55:49 So what’s gonna end up happening is right now,
    0:55:52 it’s already changed so much, you’re so young,
    0:55:53 you probably don’t have a sense
    0:55:55 of just how much it’s already changed.
    0:55:57 But like when I was growing up,
    0:56:00 there was whatever five channels and that was it.
    0:56:01 And they controlled the narrative.
    0:56:04 And we didn’t even realize the narrative was being controlled.
    0:56:07 And then as things have gone to social,
    0:56:10 now you start seeing things break apart.
    0:56:12 Now, when I started podcasting,
    0:56:14 people literally like, Tom, why are you doing this?
    0:56:15 It’s already played out.
    0:56:17 All the players that are there, that are gonna be there,
    0:56:20 it’s already decided, man, it’s too late.
    0:56:22 When I started, there were 400 podcasts.
    0:56:25 There’s now six million podcasts.
    0:56:30 So it is just insane how many more podcasts,
    0:56:32 I may have said 400,000 podcasts.
    0:56:36 So the world has just changed absolutely dramatically.
    0:56:37 And that’s gonna keep happening
    0:56:40 where the format of a podcast itself
    0:56:44 is gonna get disrupted by somebody alone with an AI
    0:56:46 doing things that nobody’s ever thought of before.
    0:56:49 And the difficulty of production,
    0:56:52 the friction of going from idea to execution
    0:56:53 is the current mode.
    0:56:55 That’s gonna go away,
    0:56:56 which means this will be more like TikTok.
    0:57:01 So instead of there being a person that has a podcast,
    0:57:03 take a Rogan or something like that,
    0:57:06 instead of that person dominating the landscape,
    0:57:07 you’re gonna have like,
    0:57:09 oh, one of his episodes might pop off,
    0:57:11 but somebody else is gonna release something else
    0:57:14 that’s a totally unique format that nobody saw coming.
    0:57:15 And it’ll just be like that.
    0:57:17 And people will just be scrolling onto the next,
    0:57:18 onto the next, onto the next.
    0:57:20 And that’s gonna happen across everything.
    0:57:22 It’s gonna happen across video game production,
    0:57:24 which I trust me, I have just as much anxiety as you.
    0:57:29 But the key is to adopt AI faster than the competition.
    0:57:32 And then just remember that one,
    0:57:35 we’re moving towards an abundance reality
    0:57:39 where if AI does all of the wildly disruptive stuff
    0:57:42 that people think it’s gonna do over the next, say, 10 years,
    0:57:46 it’s also gonna be dropping the cost of virtually everything.
    0:57:47 So everything is just getting cheaper.
    0:57:50 Now this takes you into a post-capitalistic society
    0:57:53 and there are big questions around what that looks like,
    0:57:55 but people will have access to the things
    0:57:57 that they want for far, far, far cheaper.
    0:57:59 Now that doesn’t mean people won’t find a way to peacock
    0:58:01 through other means, because we will.
    0:58:04 But especially when you throw in the mix,
    0:58:05 brain-computer interfaces,
    0:58:08 this is all gonna get real weird.
    0:58:10 There are already people that can play video games,
    0:58:12 like proper video games,
    0:58:15 using just their brain-computer interface.
    0:58:16 It’s nuts.
    0:58:18 – And you were just saying, when you first started,
    0:58:21 400,000 podcasts and everyone was telling you,
    0:58:23 there’s no chance, it’s already saturated.
    0:58:26 AI is gonna make things even more saturated.
    0:58:30 So what is your perspective about the increased competition
    0:58:33 and if there’s even a point to participate
    0:58:36 if there’s gonna be that much competition?
    0:58:38 – So I think people make a mistake
    0:58:41 when they do preemptive quitting or preemptive strikes.
    0:58:43 The reality is you wanna pay attention,
    0:58:44 you wanna be at the cutting edge,
    0:58:46 you wanna be integrating AI right now.
    0:58:49 AI is a phenomenal tool and it is a terrible master.
    0:58:51 So it’s not gonna be able to do things
    0:58:52 without humans yet.
    0:58:54 So people should be excited right now for this phase.
    0:58:57 It’s going to allow you to do more with less.
    0:58:59 And so if you’re somebody like you that’s paying attention,
    0:59:00 you’ve got a whole thesis,
    0:59:02 you know what you’re moving towards.
    0:59:04 AI is gonna help you keep costs down,
    0:59:06 it help you stay really nimble.
    0:59:09 Now, if AI starts changing the landscape,
    0:59:10 then just pay attention.
    0:59:12 Like, okay, what do we need to do to stand out?
    0:59:14 How do we add value?
    0:59:16 And yes, it’s going to change things and yes,
    0:59:19 some people are going to get smashed into little pieces.
    0:59:21 But if you’re really paying attention
    0:59:24 and if you continue to look at
    0:59:26 where’s the puck going to go,
    0:59:27 then you’ll be in better shape.
    0:59:30 Now, I’ve often made the quip that yes,
    0:59:32 you should always skate to where the puck is going to go,
    0:59:33 but it’s getting a little hard now
    0:59:35 ’cause the puck is teleporting,
    0:59:36 but it’s the right idea.
    0:59:40 You wanna pay attention to, okay, predictive engine.
    0:59:41 Where is this going?
    0:59:43 What does this mean for content creation?
    0:59:45 I think there is gonna be that hyper fragmentation.
    0:59:48 I think this is really gonna be about deep communities.
    0:59:50 So part of the reason that I’m on Twitch now
    0:59:53 doing my video game streaming is that yes,
    0:59:53 I’m building a video game,
    0:59:56 so I need to build community around that.
    0:59:59 But also historically, I built audiences, not communities.
    1:00:02 And so this is a chance for me to really build
    1:00:05 a deep community where the interactions are very different.
    1:00:06 And that’s gonna be something that AI will have
    1:00:08 a hard time with just because people know
    1:00:11 on the other side of this is not a person, it’s AI.
    1:00:13 And so I think there will be some things
    1:00:16 that people just have a weird resonance
    1:00:19 when it’s AI versus when it’s a real person.
    1:00:21 So I’ll be looking for opportunities like that.
    1:00:23 I’ll be looking for places where I wanna lean in
    1:00:25 to the humanity of it all.
    1:00:26 And I’ll be looking for places
    1:00:28 where I wanna lean into the AI of it all.
    1:00:29 But because I don’t push back
    1:00:31 on the way the world actually is,
    1:00:34 AI is here, AI will keep getting better.
    1:00:37 AI may slow down, but I don’t think it’s gonna stop.
    1:00:40 So I’m just paying attention to where it’s at
    1:00:42 and how I can leverage it for now.
    1:00:45 – And can you tell us more about Project Kaizen
    1:00:47 and how it fits into your vision of impact theory
    1:00:49 and the future of content creation?
    1:00:53 – Yeah, so it is impact theory in the sense
    1:00:55 that my theory on how to impact people at scale
    1:00:56 is through entertainment.
    1:00:58 The most dominant form of entertainment right now
    1:00:59 is video games.
    1:01:01 Also a core part of my thesis is that
    1:01:04 who I’m focused on is 11 to 15 year olds.
    1:01:07 So Project Kaizen is a game,
    1:01:10 if anybody’s ever heard of Extraction Royale,
    1:01:11 it’s an Extraction Royale game
    1:01:14 that’s aimed at 11 to 15 year old demographic,
    1:01:17 technically 13 and up because of SOPA laws.
    1:01:19 But that’s that core demographic
    1:01:21 that’s in what’s known as the age of imprinting.
    1:01:23 And so trying to reach them
    1:01:25 so that we can introduce empowering ideas.
    1:01:27 So one of the characters in the game right now,
    1:01:28 which is out right now by the way,
    1:01:29 if anybody wants to play it,
    1:01:33 it’s a free to play game at projectkaizen.io.
    1:01:36 And Bruce Lee is one of the characters in the game.
    1:01:38 And it’s an official collaboration
    1:01:39 with the Bruce Lee family.
    1:01:42 And the reason I wanted Bruce to be our launch partner
    1:01:45 was he had a tremendous impact on my life,
    1:01:47 even though he had passed away before I was born,
    1:01:50 but he wrote a book called The Dow of Jeet Kune Do,
    1:01:52 which was about his style of martial arts.
    1:01:53 And some of the ideas in there,
    1:01:55 even though I didn’t train in the martial art,
    1:01:58 the ideas were profoundly shaping
    1:02:00 for the way that I think now about mindset
    1:02:02 and getting better and all of that stuff.
    1:02:06 So we wanted him to be a character in the game
    1:02:09 who’s like our Morpheus or our Obi-Wan Kenobi,
    1:02:13 is the mentor character that’s giving the players advice.
    1:02:16 So yeah, really excited for people to get into it.
    1:02:18 And then the other part is the UGC aspect.
    1:02:21 So players can come in and build their own maps.
    1:02:24 And this is the very beginning of a much deeper set of tools
    1:02:28 that we’ll build for players to build their own content.
    1:02:31 – And you say that projectkaizen is the blueprint
    1:02:32 of the creator economy.
    1:02:35 Can you help explain what you mean by that
    1:02:36 and how it could help build communities
    1:02:38 and things like that?
    1:02:40 – Yeah, so I think the way that creators need to think
    1:02:43 is your job is to create a container
    1:02:45 for your community to come in and create.
    1:02:48 So because I think in IP, the way that we look at it is
    1:02:52 we’ve created projectkaizen, it’s this gigantic sci-fi world
    1:02:55 and inside that world, there’s characters and stories
    1:02:58 and physics, if you will, rules of the game,
    1:03:01 the way that it all works, the conceit of our story
    1:03:05 is that everything you’ve ever known is a simulation.
    1:03:07 So imagine the matrix, but there’s no real world.
    1:03:09 The matrix is the real world.
    1:03:10 There’s nothing else.
    1:03:14 And in that story, that means that we’re connected
    1:03:16 to other dimensions and all that kind of stuff.
    1:03:20 And that way, as players spin up their own story lines,
    1:03:23 they can be like, oh, we’re from this,
    1:03:25 what we call instance, a server instance
    1:03:27 or a universe, if you wanna think of it in those terms.
    1:03:30 So we’re from this universe, these are our people.
    1:03:32 This is what our world looks like
    1:03:34 and they can literally build that up as much as they want.
    1:03:37 It could be as simple as one little floating island.
    1:03:40 It could be all the way to a planet, not yet, but one day.
    1:03:43 And them being able to tell their own stories
    1:03:46 and then giving the community the ability to say,
    1:03:50 hey, this person’s storyline follows all
    1:03:52 of your guidelines impact theory.
    1:03:56 We love it and want this to be canon in your world.
    1:03:59 And so when a story meets certain criteria,
    1:04:01 players can vote for it.
    1:04:03 And then if we approve it,
    1:04:05 then it becomes official canon within our world.
    1:04:08 And so our goal is for them, if you know UEFN,
    1:04:11 this is what Fortnite’s doing is absolutely brilliant,
    1:04:14 giving the players the tools from the game
    1:04:17 to build their own sort of mini games inside of it.
    1:04:19 And so we’re doing a very similar thing,
    1:04:21 much smaller scale compared to Epic,
    1:04:23 which is absolutely gigantic.
    1:04:24 But I think this is just the future.
    1:04:26 I think everybody’s gonna be doing this.
    1:04:29 So it’s not like, oh, we’re trying to be some pale shadow
    1:04:30 of what Epic is doing.
    1:04:33 I just think this is the future in the same way
    1:04:35 that if you were gonna launch a video site,
    1:04:37 of course you’re gonna let people upload to it.
    1:04:38 There would be no other way.
    1:04:41 That is our plan now is to give players the ability
    1:04:45 to create unique experiences within our container.
    1:04:46 – Amazing.
    1:04:49 Well, it sounds super fascinating and very exciting.
    1:04:51 And I can hear the passion in your voice about it.
    1:04:54 Tom, thank you so much for joining us on the podcast.
    1:04:56 I was very nervous to time.
    1:04:57 I never get nervous.
    1:05:00 And I was so nervous in the beginning for some reason.
    1:05:03 Like, so I just have looked up to you for a long time.
    1:05:04 So I just appreciate your time.
    1:05:06 I end the show with two questions
    1:05:08 that I ask all of my guests.
    1:05:09 And this can just come from your heart.
    1:05:12 It doesn’t have to be anything that we talked about today.
    1:05:14 What is one actionable thing our young and profitors
    1:05:19 can do today to become more profitable tomorrow?
    1:05:20 – Always be learning.
    1:05:22 Always be learning.
    1:05:24 So it should cue off of your goal.
    1:05:25 So again, your goals make demands.
    1:05:28 But I spend on average two hours a day,
    1:05:32 365 days a year every day for the last 15 years,
    1:05:34 maybe more, learning.
    1:05:37 Be a relentless learning machine.
    1:05:38 – Amazing.
    1:05:41 And what is your secret to profiting in life?
    1:05:44 – So for me, I know that nothing matters more
    1:05:46 than reciprocated love.
    1:05:49 So I make sure that I put a ton of time
    1:05:50 and attention into that.
    1:05:52 And then also I manage my biology.
    1:05:56 So I get sleep, I eat healthy, I exercise, I work out.
    1:05:59 I maintain loving relationships beyond just my wife.
    1:06:01 The things are incredibly important.
    1:06:03 And then if I can really ground this for people,
    1:06:05 guys, you have to learn how business works.
    1:06:07 Like business has physics.
    1:06:08 And if you really want to get good,
    1:06:10 you need to learn those physics.
    1:06:13 And they are available for anybody to learn,
    1:06:14 anyone to master.
    1:06:16 The game is really relatively simple.
    1:06:17 Learn it, learn the game.
    1:06:19 Do not let yourself get overwhelmed.
    1:06:21 Just one piece at a time.
    1:06:23 Pick apart the skill set, learn it.
    1:06:24 – And when you say physics,
    1:06:26 do you mean like sales, marketing, finance,
    1:06:28 those kinds of things?
    1:06:30 – Yes, and where it interfaces with leadership
    1:06:32 and human psychology?
    1:06:33 – Yes.
    1:06:35 – And where can everybody learn more about you
    1:06:37 and everything that you do?
    1:06:38 – At Tom Dillew, Across the Socials,
    1:06:40 Best Places, Probably YouTube.
    1:06:41 – Amazing.
    1:06:43 Thank you so much for all of your time.
    1:06:44 Really appreciate it.
    1:06:46 – Absolutely, thank you.
    1:06:48 (upbeat music)
    1:06:53 – Well, guys, this was such an important interview for me.
    1:06:56 And I was kind of nervous as I think you could tell.
    1:07:00 I’ve admired Tom as a leader, as an entrepreneur,
    1:07:02 as a podcaster.
    1:07:05 I love his brain and the way he approaches the world.
    1:07:08 And I’ve just been a fan for so long.
    1:07:11 And I consider him to be a podcast king.
    1:07:14 And now, even though I’m a podcast princess,
    1:07:16 I still have to bow down to the king, you know?
    1:07:18 Like I was nervous.
    1:07:21 And one of the things that I found most inspiring from today
    1:07:23 was his approach to failure.
    1:07:26 Tom says he tries to approach failure
    1:07:28 in the way that AI might do it
    1:07:30 as a pure learning experience.
    1:07:32 In other words, you try something new,
    1:07:34 you experiment, it works, it doesn’t.
    1:07:36 And you go back to the drawing board
    1:07:38 with that new knowledge in hand.
    1:07:41 There’s no energy wasted on being frustrated
    1:07:42 or getting emotional.
    1:07:46 And the key ingredient in that process is failure.
    1:07:48 Along these lines, Tom also advises us
    1:07:51 to distrust our emotions.
    1:07:53 Evolution developed emotions to push us
    1:07:55 in certain directions that improve our chances
    1:07:58 for survival, for having kids.
    1:08:01 But those same emotions can be extremely counterproductive
    1:08:03 when it comes to achieving our goals.
    1:08:05 So if you’re feeling a strong emotion,
    1:08:07 then step back and ask yourself
    1:08:09 why you are feeling that strong emotion
    1:08:13 and whether it’s pushing you in the right direction or not.
    1:08:16 Tom also believes that we should work on what we can change.
    1:08:19 We all come hardwired to be a certain way,
    1:08:20 but there’s still plenty of room
    1:08:21 for us to play the cards we’re dealt with
    1:08:24 and focus on the things we can change about ourselves
    1:08:26 and our circumstances.
    1:08:27 For example, one of the things
    1:08:30 that we’re most hardwired to be is lazy,
    1:08:31 but we can address that.
    1:08:33 And one of the best ways to do that
    1:08:36 is by tapping into another evolutionary demand
    1:08:38 like helping your tribe or your group.
    1:08:41 Nothing seems to energize us more
    1:08:44 than pursuing a goal that is in service of others.
    1:08:47 Thanks for listening to this episode of Young and Profiting.
    1:08:50 Are you ready to do something in service of others
    1:08:52 that will make you feel good and full of energy?
    1:08:54 Do you know somebody who would love to hear
    1:08:57 what Tom Billu has to say about failure
    1:08:59 or the future of content?
    1:09:02 Then why not share this episode with somebody right now?
    1:09:04 And if you did enjoy this show and you learned something,
    1:09:08 then why not drop us a five-star review on Apple Podcast?
    1:09:10 Nothing helps us reach more people
    1:09:12 than a good review from you.
    1:09:14 And if you prefer to watch your podcast as videos,
    1:09:16 you can find us on YouTube,
    1:09:17 just look up Young and Profiting
    1:09:19 and you’ll find all of our episodes there.
    1:09:22 You can also find me on Instagram @yappwithhalla
    1:09:24 or LinkedIn by searching my name.
    1:09:26 It’s Hala Taha.
    1:09:28 And thanks to my incredible YAP team
    1:09:29 for helping me put this episode together,
    1:09:32 you guys are the absolute best.
    1:09:33 This is your host, Hala Taha,
    1:09:36 AKA The Podcast Princess, signing off.
    1:09:39 (upbeat music)
    1:09:41 (upbeat music)
    1:09:44 (upbeat music)
    1:09:47 (upbeat music)
    1:09:57 [BLANK_AUDIO]

    After his senior thesis film at USC flopped, Tom Bilyeu abandoned his dream of becoming a filmmaker. As he worked low-paying jobs and relied on his fiancée for financial support, he found himself spiraling into depression and struggling with a lack of purpose. But then, he immersed himself in personal development and brain plasticity research, discovering that effort and learning were the keys to unlocking his potential. As a result, he adopted a growth mindset, leaned into deliberate practice, and overcame self-doubt to become a highly successful entrepreneur. In this episode, Tom shares his journey from building a billion-dollar business to pivoting into the world of media and personal empowerment. He also shares insights into how AI could transform the creator economy.

    In this episode, Hala and Tom will discuss: 

    00:00 Introduction to Tom Bilyeu

    02:18 Tom’s Philosophy on Impact and Purpose

    05:08 Balancing Work and Personal Life

    07:36 Handling Overwhelm and Prioritization

    11:49 Approaching Failure and Learning from AI

    16:50 First Principles Thinking

    21:37 Tom’s Personal Journey and Overcoming Laziness

    32:04 Film School and Realizing Limitations

    33:28 A Terrible Senior Thesis Film

    34:58 Discovering Brain Plasticity and Growth Mindset

    36:11 The Loop of Desire Explained

    39:08 The Power of Storytelling

    43:41 Journey to Entrepreneurship

    50:17 The Future of Content Creation with AI

    56:10 Project Kaizen and the Creator Economy

    01:00:19 Final Thoughts and Advice

    Tom Bilyeu co-founded Quest Nutrition, a billion-dollar company that revolutionized the health and wellness industry. After exiting Quest, he founded Impact Theory, a media company focused on empowering people through mindset education and storytelling. He hosts Impact Theory Podcast, one of the leading business and personal development podcasts. With experience building multi-million-dollar businesses across nutrition, software, and media, Tom is a recognized leader in entrepreneurship and innovation. He is also the creator of Project Kyzen, an immersive virtual platform blending personal development and technology.

    Connect with Tom:

    Website: tombilyeu.com

    LinkedIn: linkedin.com/in/tombilyeu 

    TikTok: tiktok.com/@tombilyeu 

    Facebook: facebook.com/tombilyeu

    Instagram: instagram.com/tombilyeu

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  • YAPClassic: Tori Dunlap, How to Fix Your Money Mindset and Unlock Financial Freedom

    AI transcript
    0:00:03 Today’s episode of YAP is sponsored in part by Shopify,
    0:00:05 Found, and Airbnb.
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    0:00:09 that helps you grow your business.
    0:00:12 Sign up for a $1 per month trial period
    0:00:14 at Shopify.com/profitink.
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    0:00:21 all in one place and was created for busy entrepreneurs.
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    0:00:28 Hosting on Airbnb has never been easier
    0:00:30 with Airbnb’s new co-host network.
    0:00:34 Find yourself a co-host at Airbnb.com/host.
    0:00:36 As always, you can find all of our incredible deals
    0:00:40 in the show notes or at youngandprofiting.com/deals.
    0:00:53 Welcome back, Young and Profiters.
    0:00:56 Today on YAP Classic, we’re showcasing an interview
    0:01:00 I did about a year ago with the remarkable Tori Dunlap.
    0:01:04 After graduating college in 2016, 22-year-old Tori
    0:01:06 started an entry-level job in corporate marketing,
    0:01:09 but she set herself a goal on the side
    0:01:13 to figure out a way to make $100,000 by the age of 25.
    0:01:14 And sure enough, three years later,
    0:01:16 she met her goal and quit her job.
    0:01:20 In doing so, she realized how money and personal finance
    0:01:22 are tools you can use to shape your life
    0:01:24 into something that you love.
    0:01:27 Today, Tori is an internationally-recognized
    0:01:30 money and career expert, seven-figure entrepreneur,
    0:01:33 TikTok and Instagram mega influencer,
    0:01:35 best-selling author, and top podcast host
    0:01:38 of the Financial Feminist podcast.
    0:01:40 Which, by the way, is in my podcast network,
    0:01:42 the number one business and self-improvement
    0:01:45 podcast network, YAP Media.
    0:01:48 And in this conversation from episode 245,
    0:01:49 Tori does not disappoint.
    0:01:52 She tells us how we can all get better at navigating
    0:01:55 the emotional and psychological sides of money.
    0:01:57 She also shared some awesome wealth-building tips,
    0:01:59 including why you need to open up
    0:02:02 your own high-yield savings account right now.
    0:02:04 So I think it’s about time for you to reconsider
    0:02:07 your relationship with money and what it means to your life.
    0:02:09 It’s time for Tori Dunlap.
    0:02:16 So Tori, you’re a Forbes 30 under 30 honoree
    0:02:18 and recognized as a top financial expert,
    0:02:20 especially for women and millennials.
    0:02:23 And after doing some research on your background,
    0:02:24 I discovered that you’ve always been really good
    0:02:25 with your money.
    0:02:28 So curious to understand what were your influences
    0:02:31 growing up around money, and how did that shape
    0:02:34 your mindset and attitude towards the topic?
    0:02:37 – I grew up with parents who educated me about money,
    0:02:39 and I thought that was the case for everybody.
    0:02:40 I thought, okay, everybody knows
    0:02:41 not to overspend on credit cards.
    0:02:42 Everybody knows how to save.
    0:02:46 Everybody knows how to manage money responsibly.
    0:02:49 And as I got older, graduated high school,
    0:02:51 went into college and started having
    0:02:52 more conversations with people,
    0:02:54 I realized, of course, that wasn’t the case,
    0:02:58 and especially not the case for most people
    0:03:00 that I was talking to in my generation,
    0:03:01 and specifically women.
    0:03:03 So I was the friend all of my friends
    0:03:06 were coming to for advice and guidance around money.
    0:03:07 It shocks a lot of people to hear
    0:03:08 and may shock your audience to hear.
    0:03:09 I did not study finance.
    0:03:11 I technically didn’t even study business.
    0:03:14 I studied marketing and theater in college,
    0:03:15 but Donald Trump got elected.
    0:03:18 So I graduated college in May of 2016,
    0:03:20 was trying to figure out the kind of person
    0:03:22 and the woman I wanted to be in this world.
    0:03:25 And five months later, the election happens,
    0:03:29 and I’m coming into adulthood and really into womanhood
    0:03:30 in a very different country than I think
    0:03:31 a lot of us expected.
    0:03:34 So I’m trying to figure out, how do I want to show up?
    0:03:34 What do I care about?
    0:03:36 What do I want my life to look like?
    0:03:39 And when you’re the friend,
    0:03:40 all of your friends were coming to for advice,
    0:03:42 and when you’re also starting to see
    0:03:45 that your own financial background
    0:03:48 is the reason you’re able to have flexibility
    0:03:51 you’re able to quit the job that feels toxic
    0:03:54 and find a better option for you.
    0:03:55 You’re able to travel,
    0:03:57 you’re able to donate to causes you believe in.
    0:03:58 You start to realize,
    0:04:01 “Oh, maybe money is my form of protest in this world.
    0:04:04 Maybe money is the tool and the resource I need
    0:04:06 to not only build the life that I love,
    0:04:10 but also to start shaping a world that I want to see.”
    0:04:15 And so I really became just so on fire
    0:04:16 about personal finance,
    0:04:19 but specifically again, using money as a tool
    0:04:22 to shape your life into something that you love
    0:04:25 and to start shaping communities around you.
    0:04:29 So my work started as a side hustle, her first 100K,
    0:04:32 this now global multi-million dollar business
    0:04:34 with employees and a podcast and a book
    0:04:35 was the thing I was doing
    0:04:37 on the side of my nine to five in marketing.
    0:04:40 And as I was growing my own confidence as a leader
    0:04:43 and as someone who was learning how to connect with people
    0:04:46 and educate them step by step about how to build wealth,
    0:04:48 I was also seeing in my own life,
    0:04:50 “Oh, when I have money, I have options.”
    0:04:52 And so the rest is just crazy now.
    0:04:56 I took it full time after saving $100,000 at age 25,
    0:04:58 which was the origin story of her first 100K.
    0:05:01 I was on Good Morning America, quit my job three weeks later,
    0:05:04 and now we have three million people who were shaping
    0:05:06 and teaching them how to pay off debt
    0:05:08 and save money and start investing.
    0:05:09 – I love your story.
    0:05:11 And we have so many similarities.
    0:05:15 I also started Yap and Yap Media as a side hustle.
    0:05:16 And so from my understanding,
    0:05:20 the first thing you started was a blog, is that right?
    0:05:23 – Yeah, so it was a blog in late 2016.
    0:05:26 That kind of era, like mid-2010s,
    0:05:28 was like the Tumblr blog era,
    0:05:30 if you can think back that far, right?
    0:05:31 – Yeah, I had a blog too.
    0:05:33 – Yeah, so that was what I thought.
    0:05:35 It was like, “Okay, I wanna share my life
    0:05:38 “as a 20-something woman, like how to navigate career,
    0:05:41 “how to travel, and how to do all these things.”
    0:05:44 And I started to realize, probably about a year or two in,
    0:05:47 that I was like, “Oh, all of my topics
    0:05:48 “have something to do with money.”
    0:05:50 Yeah, I would talk about traveling to Costa Rica,
    0:05:54 but I’d talk about negotiating our car rental,
    0:05:56 or I’d talk about finding a cheap flight,
    0:05:58 obviously with a career, right?
    0:05:59 I’m working to make money
    0:06:04 and to hopefully have this sense of purpose or passion.
    0:06:07 And again, I was becoming more political,
    0:06:10 becoming more educated about systemic oppression
    0:06:13 and the various aspects of personal finance
    0:06:15 that I was not seeing covered, right?
    0:06:17 You think about Dave Ramsey, Susie Orman,
    0:06:19 these very well-known personal finance experts,
    0:06:22 and very rarely do they talk about how racism, sexism,
    0:06:25 ableism, homophobia have anything to do with money.
    0:06:28 And I talk about this in my book, Financial Feminist,
    0:06:30 but 80% of the personal finance equation
    0:06:33 is the systemic factors that you have no control of.
    0:06:36 Only 20% of the personal finance equation
    0:06:38 is how to get a budget together
    0:06:41 and making sure you’re optimized in your Roth IRA.
    0:06:42 So I wanted to have conversations
    0:06:45 that were more nuanced, and during that time,
    0:06:47 I think a lot of the financial experts
    0:06:48 were starting to have those conversations,
    0:06:52 post 2016 with Black Lives Matter in 2020,
    0:06:54 the research into that movement.
    0:06:55 So I think it was really important for me
    0:07:00 to have those conversations be something that was not just,
    0:07:02 you can’t buy a house because you buy lattes.
    0:07:04 And it’s like, no, what is the real reason?
    0:07:05 So yeah, all of that started as a blog
    0:07:08 as I was trying to figure out my own voice too.
    0:07:09 – I love that.
    0:07:11 And we’re gonna talk about how to fight the patriarchy
    0:07:13 through finances in a bit.
    0:07:14 Let’s put a pin on that.
    0:07:16 And I just want to understand your story
    0:07:17 a little bit better.
    0:07:18 – Sure.
    0:07:22 – So you had this goal of saving $100,000.
    0:07:24 And once you hit that goal,
    0:07:26 you decided to quit your full-time job
    0:07:29 and go all in on, you know, first 100K brand
    0:07:32 and everything that you’ve built so far.
    0:07:34 What made you first think of that idea
    0:07:35 of saving $100,000?
    0:07:38 Was that really intentional that you did that?
    0:07:40 And you knew that that was the plan?
    0:07:41 I would love to hear that story.
    0:07:45 – I’m just that person that set goals for myself
    0:07:45 from a very young age.
    0:07:48 I literally have joked in like the promotion of my book.
    0:07:49 I sat down when I was seven or eight
    0:07:51 and said, I want to write a book someday.
    0:07:53 Now, did I think it was gonna be like a personal finance book?
    0:07:55 No, hell no, that was not the plan.
    0:07:57 But for me, 100K was,
    0:07:59 I was reading another personal finance blog
    0:08:04 and I saw someone write about their 100K net worth at 25.
    0:08:06 And I was probably 23.
    0:08:08 And I started doing the math and I was like,
    0:08:12 if I can increase my income by X percentage
    0:08:14 and if I can continue to save X percentage
    0:08:17 and if my investments perform like they’re performing,
    0:08:19 I think I can hit this.
    0:08:21 The joke was as long as I do it the day before I turned 26,
    0:08:22 it still counts.
    0:08:24 It was 100K at 25.
    0:08:27 And that 100K happened,
    0:08:29 I think three months after my 25th birthday.
    0:08:31 So it was a combination of a lot of things.
    0:08:34 It was the privilege of being able to graduate
    0:08:35 college debt free.
    0:08:38 I was working three jobs on campus, getting scholarships.
    0:08:40 I also had parents who were financially minded
    0:08:42 and who were able to contribute to my college.
    0:08:44 I like to acknowledge that right off the bat
    0:08:45 because it’s not something that everybody
    0:08:47 has the privilege of doing.
    0:08:49 I was also saving a huge percentage of my income.
    0:08:54 My take home pay, 27% at the peak was going towards savings.
    0:08:56 And then everything I made in my side hustle,
    0:08:59 I was able to contribute to the 100K goal as well.
    0:09:02 I was focused on value-based spending.
    0:09:03 I was still traveling internationally.
    0:09:04 I was still going out to eat.
    0:09:05 That’s the other question.
    0:09:07 People are like, oh, you ate oatmeal and ramen.
    0:09:10 I’m like, no, actually, I still did all of the things
    0:09:14 in a huge US city that I wanted to do as somebody in their 20s.
    0:09:17 But yeah, that 100K, and this is the thing
    0:09:20 that’s so important as a lot of people,
    0:09:22 and I find especially women, they’re not necessarily
    0:09:24 motivated by the numbers.
    0:09:26 For me, there was something about seeing 100K
    0:09:30 in the bank account that was like that burst of serotonin.
    0:09:32 But it’s very difficult sometimes
    0:09:35 to get somebody to care about money
    0:09:37 when they think it’s just numbers.
    0:09:38 We know that money is psychological.
    0:09:41 We know that money is emotional.
    0:09:43 And so when I thought about that 100K
    0:09:46 and when shit started getting hard, where I couldn’t save,
    0:09:48 or there was a period of time that I spent unemployed,
    0:09:50 so I was not only not saving money,
    0:09:53 I was spending the money I had already saved,
    0:09:56 I was trying to figure out, OK, I set this arbitrary goal
    0:09:56 for myself.
    0:09:58 What’s the point?
    0:10:01 The 100K meant that I got to quit my job.
    0:10:03 That was the promise I had made to myself
    0:10:08 is I attached the number to a goal and to a feeling.
    0:10:11 I literally imagined like, what would my life look like
    0:10:14 if I didn’t have to make somebody I didn’t respect rich?
    0:10:18 What would my life look like if I didn’t have to ask
    0:10:20 to take PTO and get it denied?
    0:10:23 What would my life look like if I didn’t have to commute
    0:10:28 into a job that I didn’t feel aligned with my passions
    0:10:31 or aligned with the mission and values of my life?
    0:10:33 What did that feel like?
    0:10:35 And it felt amazing.
    0:10:38 And so that 100K goal, yes, part of it
    0:10:42 was seeing the 100K, being able to see the headline, which
    0:10:44 I’m grateful that there are many.
    0:10:46 How this 25-year-old saved 100K.
    0:10:50 But really, it was about, how does my life change?
    0:10:52 So if you’re out there and you’re trying to get yourself
    0:10:54 motivated, how do I become debt-free?
    0:10:57 Or how do I invest enough for retirement?
    0:11:01 Or how do I make ends meet so that I don’t feel panicked
    0:11:05 all of the time, associate that with a feeling, right?
    0:11:09 What does it feel like to not have somebody demanding
    0:11:12 that you send them money every month for your student loans?
    0:11:14 What does it feel like to know?
    0:11:17 Oh, yeah, I can buy this thing without guilt or shame
    0:11:19 because I’ve budgeted for it.
    0:11:21 What does it feel like to know that you’re
    0:11:23 going to be set for retirement?
    0:11:26 That 65-year-old you is taken care of.
    0:11:27 What does that feel like?
    0:11:30 That, for me, was really the driving force
    0:11:32 of how does my life change and what
    0:11:36 does it feel like to use money as a tool to get me there?
    0:11:37 I loved it.
    0:11:38 I think that’s really good advice.
    0:11:44 And I remember I saved my first 100K at 28, I want to say.
    0:11:47 And the amount of freedom I felt and just agency
    0:11:49 over my own life, I didn’t need a man.
    0:11:50 I didn’t need my parents.
    0:11:52 I didn’t need– all of a sudden, I felt like, well,
    0:11:54 if I don’t like this job, I could leave
    0:11:57 because I have 100 grand and that’s at least going
    0:11:59 to keep me afloat for four to six months and whatever.
    0:12:03 So it really did unlock a lot of limiting mindsets
    0:12:04 for myself.
    0:12:06 So I would encourage everybody to have some sort
    0:12:08 of a financial goal like that.
    0:12:10 Well, and that’s the feeling I want
    0:12:11 for every single person listening.
    0:12:16 That is the feeling I want is I am in situations I want to be in
    0:12:18 rather than situations I’m forced to be in.
    0:12:21 Or I don’t have to tolerate bullshit from a partner,
    0:12:23 from a company.
    0:12:26 I can do what I want because I have the financial means
    0:12:26 to do so.
    0:12:29 That is so incredibly liberating.
    0:12:33 And it reflects in every aspect of your life.
    0:12:35 I show up differently in my relationships
    0:12:38 because I know that I’m not dependent on somebody financially.
    0:12:40 I show up different in my career.
    0:12:42 I show up different in my business.
    0:12:46 I show up different to myself in how I talk to myself.
    0:12:48 And I think, again, that’s the feeling
    0:12:49 I want for every single person listening
    0:12:53 is when you start becoming financially confident,
    0:12:55 when you start having that financial foundation,
    0:12:58 not just your financial life, but all of the rest
    0:12:58 of your life changes.
    0:13:01 The rest of your life changes.
    0:13:02 Yeah, and that kind of confidence
    0:13:04 is actually very attractive, right?
    0:13:07 Because it’s like you’re not coming out
    0:13:09 in an insecure way to anyone.
    0:13:12 And people gravitate to that kind of confidence.
    0:13:17 So speaking of confidence, you have a theater background.
    0:13:20 And I’ve had traditional financial experts on the show,
    0:13:23 like Suzy Orman, like you mentioned, Peter Maluk,
    0:13:26 and lots of great financial experts.
    0:13:28 But what’s the advantage of learning from somebody
    0:13:31 outside of our traditional background?
    0:13:32 So many advantages.
    0:13:34 Thank you for asking this question.
    0:13:37 I spoke at Morningstar at one of their big splashy conferences
    0:13:41 probably about a month ago, and I was keynoting.
    0:13:43 And it was really interesting to see people’s responses,
    0:13:45 because I did say on stage, I studied theater.
    0:13:48 And I was joking, the girls that get it get it,
    0:13:50 and the girls that don’t don’t.
    0:13:52 It was very interesting to see what kind of people were like,
    0:13:53 oh, you’re a theater major.
    0:13:54 How are you qualified?
    0:13:57 And I’m like, all of these other qualifications.
    0:13:58 OK, a couple of things.
    0:14:01 One, I think there’s something actually so refreshing
    0:14:07 about hearing this complicated, inaccessible topic explained
    0:14:10 by somebody who’s not in it.
    0:14:13 I know that there’s a certain level of jargon
    0:14:17 in any industry, but specifically personal finance.
    0:14:19 And this is no fault of any financial professional.
    0:14:21 But when you’ve been in it for a while,
    0:14:23 that’s just the language you use.
    0:14:26 And I was on a panel at the beginning of her first 100K.
    0:14:28 It was probably 2019.
    0:14:30 I was still working as a marketer,
    0:14:31 and this was my side hustle.
    0:14:34 And I had all of these people on this panel who were venture
    0:14:36 capitalists and financial advisors
    0:14:38 and who had been doing this for years.
    0:14:41 And it was so interesting to them.
    0:14:44 They were speaking to this room of 20 and 30-something women
    0:14:46 who are my primary demographic.
    0:14:49 And using the words that they thought
    0:14:53 were investing 101 terms like asset allocation or portfolio
    0:14:56 rebalancing, you and I know what that means.
    0:14:57 Right?
    0:15:00 But I literally saw the rest, like the entire audience’s
    0:15:02 eyes glaze over, because they’re like,
    0:15:03 I don’t know what that means.
    0:15:07 And also, this industry is so veiled and so gate-kept
    0:15:09 that I’m afraid of looking stupid if I ask.
    0:15:11 But there’s something so refreshing about seeing me,
    0:15:15 not in a pencil skirt, but in a leather jacket and adidas,
    0:15:17 being like, hey, I’m going to explain everything to you
    0:15:19 like you’re five, and not because you’re dumb
    0:15:21 and not to condescend you, but because nobody
    0:15:22 taught you this.
    0:15:26 So coming outside of that industry, I think, is so helpful.
    0:15:28 In terms of running a business, there
    0:15:31 are so many people that I have met who
    0:15:33 have arts or theater backgrounds who
    0:15:35 are incredibly successful entrepreneurs,
    0:15:37 even in the personal finance space.
    0:15:40 I don’t know if you know, Steph O’Connell, theater person.
    0:15:43 Erin Lowry broke Millennial, theater person.
    0:15:46 There are so many of us who studied theater or did theater,
    0:15:48 because when you’re an entrepreneur,
    0:15:50 that is what you do all day.
    0:15:52 This right here, I’m staring at a camera.
    0:15:54 This is my theater degree.
    0:15:58 Am I comfortable speaking in front of 5,000 people?
    0:16:02 Am I comfortable going live on CNBC yesterday?
    0:16:04 Am I comfortable doing that?
    0:16:07 And am I comfortable being able to story
    0:16:11 tell what I am doing and why this brand matters, which
    0:16:13 is your entire job as a CEO or entrepreneur.
    0:16:16 It’s just like jazz handing your company, right?
    0:16:18 Just like jazz hands the entire time of like,
    0:16:20 this is what we’re doing, this is why it matters.
    0:16:23 Storytelling is what theater gave me the opportunity to do,
    0:16:26 as well as be comfortable on stage in front of people
    0:16:28 being able to adapt.
    0:16:31 We run a financial media company, much like you.
    0:16:34 Yes, I have tons of knowledge about personal finance,
    0:16:36 but really, I run a media company that
    0:16:37 just happens to talk about money.
    0:16:40 I run a feminist company that talks about money.
    0:16:42 And I think that my theater background and my communications
    0:16:45 background is absolutely huge for that.
    0:16:50 Let’s hold that thought and take a quick break with our sponsors.
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    0:19:58 (bell dings)
    0:20:03 I’m like vigorously nodding
    0:20:06 because I 100% agree with you.
    0:20:09 As an entrepreneur, there’s so much creativity
    0:20:12 that’s involved in being an inventor that’s involved.
    0:20:14 And by the way, entrepreneurship is not something
    0:20:15 that you tackle alone.
    0:20:17 So if for some reason you have a gap in business
    0:20:20 or financial knowledge, you can fill that gap
    0:20:22 with other people that you can hire on your team.
    0:20:25 And by the way, you’re also allowed to be a dynamic person
    0:20:28 that can be good at business and finance and the arts, right?
    0:20:31 So I’m totally aligned with everything that you’re saying.
    0:20:34 So something that you touched on that I wanna dig deeper on
    0:20:36 is this fact that you were speaking to all this women
    0:20:38 and you felt like these words were sort of just glazing
    0:20:40 over their heads.
    0:20:41 And I know you’ve talked about in the past
    0:20:44 about how women and men are sort of taught different things
    0:20:46 when it comes to finance.
    0:20:49 From when we’re young children to adulthood,
    0:20:52 the way that we’re taught this financial information
    0:20:53 tends to be different.
    0:20:55 Can you talk to us about that?
    0:20:58 – Yes, the entire thesis of my book really is that,
    0:21:01 is just the lack of financial education
    0:21:04 and specifically how money affects women
    0:21:06 or any marginalized group differently.
    0:21:08 And if you’re a man listening, I need you to not like
    0:21:11 check out because this is not like I hate all men.
    0:21:12 The patriarchy does not mean we hate men.
    0:21:16 The patriarchy hurts men just as much as it hurts women.
    0:21:21 So when we’re talking about the way we speak about money,
    0:21:24 first of all, nobody’s taught about money unless you were.
    0:21:26 And that sounds kind of like no dub,
    0:21:27 but like unless you had parents like mine
    0:21:29 who sat down to teach you about money,
    0:21:31 you were not taught about money.
    0:21:33 Regardless of your gender identity, that’s the reality.
    0:21:36 It’s like there are very few places
    0:21:37 to actually learn about money.
    0:21:40 And even when it’s taught to you,
    0:21:42 it is emotionally charged typically.
    0:21:47 And it depends on your parents or your teacher’s background.
    0:21:50 I can’t tell you the amount of first gen
    0:21:52 or people of color who have come to me and been like,
    0:21:53 I learned about money.
    0:21:55 I learned that credit cards were evil
    0:21:57 and that I shouldn’t trust banks
    0:21:59 and that money was the thing we didn’t have enough of
    0:22:02 so that when we got money, we had to just hoard it.
    0:22:06 And that’s not exactly the perspective we want, right?
    0:22:08 So first of all, nobody’s taught about money.
    0:22:11 Second, I could spend an hour talking to you just about this,
    0:22:13 but I’ll give you a very specific example.
    0:22:15 Look at the toys that we give boys
    0:22:18 versus what we give girls stereotypically.
    0:22:21 We give boys Legos, trucks, things to build, right?
    0:22:26 Things that build their sense of self-reliance
    0:22:29 and of creativity and of their own ingenuity.
    0:22:31 What do we give girls?
    0:22:34 Dolls, easy bake ovens, things to take care of.
    0:22:38 We give a literal child another child to take care of.
    0:22:42 So what we’re telling kids is we’re telling boys
    0:22:44 your inherent worth and value
    0:22:47 is in your own creativity and your own thinking, right?
    0:22:49 Your own initiative.
    0:22:53 We’re telling girls your value to society
    0:22:56 and your identity is in caregiving and altruism.
    0:22:58 Now that altruism is beautiful and lovely
    0:23:01 and it’s one of the things I love most about being a woman.
    0:23:03 But what happens then
    0:23:06 when we do start becoming financially confident as women?
    0:23:07 When I do go on social media
    0:23:10 and talk about the fact that I’m a millionaire.
    0:23:14 When I do talk about me negotiating my salary
    0:23:16 or me negotiating my rate,
    0:23:20 suddenly it’s why aren’t you grateful for your opportunities?
    0:23:23 She’s greedy, she’s bossy, she’s bragging.
    0:23:26 The weaponization of the altruism starts happening.
    0:23:29 So when we are conditioned to be altruistic,
    0:23:32 we’re conditioned to be givers, which is again beautiful
    0:23:35 and we should donate and we should give.
    0:23:37 When we don’t conform to that roller identity,
    0:23:39 when we’re no longer controllable,
    0:23:41 ’cause really that’s what it is.
    0:23:43 When I have money, I’m no longer controllable,
    0:23:47 the perspective shifts to we need to remind her
    0:23:48 that she needs to tax herself
    0:23:50 and just be grateful for where she’s at
    0:23:52 and not go above her station.
    0:23:54 We don’t do that for men.
    0:23:57 A man can post a photo on Instagram or on Twitter
    0:24:02 with him at the golf course in a Rolex.
    0:24:03 And the comments are cool Rolex, bro,
    0:24:06 you’re doing well for yourself, right?
    0:24:09 The comments for women, if I show up in a designer dress
    0:24:11 or if I have the audacity and I’m putting this in quotes
    0:24:13 to flaunt my wealth,
    0:24:15 suddenly it’s why aren’t you donating more?
    0:24:18 It’s not aspirational the way it is for men.
    0:24:22 Also, it’s more socially acceptable for men
    0:24:25 to not only pursue wealth, but to talk about wealth.
    0:24:26 Nobody’s educated about it,
    0:24:30 but there is the shift that happens with teenagers,
    0:24:32 literally teenage boys, like going on Reddit,
    0:24:35 talking with their friends about crypto or the hot stock.
    0:24:39 Women are just not allowed into those conversations
    0:24:43 and not socially conditioned to have them.
    0:24:44 And my final point I’ll make,
    0:24:46 in heteronarbative relationships
    0:24:48 when a man is with a woman,
    0:24:50 the men are handling the wealth building,
    0:24:53 the women are handling the day-to-day finances still.
    0:24:55 So in 2023, women are handling the budgeting
    0:24:58 and the coupon clipping and like the household management.
    0:25:01 And that’s important, that’s how households run,
    0:25:02 but that’s not the wealth building.
    0:25:05 Men are handling the real estate and the investing
    0:25:10 and these like $30,000, $50,000, $100,000 decisions.
    0:25:14 Women are handling the like which cottage cheese is cheaper.
    0:25:19 And so if we really want to see the wealth gap
    0:25:23 start to lessen, we have to have conversations about money
    0:25:26 and we as a society have to be comfortable
    0:25:28 with women’s pursuit of wealth
    0:25:31 in a way that we just aren’t right now.
    0:25:32 We are okay with men pursuing wealth,
    0:25:36 we are okay with men managing these huge decisions
    0:25:38 in a way we just aren’t with women.
    0:25:40 – It’s so interesting to hear you talk about this
    0:25:43 and then thinking back to my own experiences.
    0:25:45 I feel like my fans and my listeners,
    0:25:48 very positive about me speaking about money
    0:25:52 and how to make money and being really supportive.
    0:25:53 But then at the same time,
    0:25:54 like I’ll have people like my mom
    0:25:56 who will constantly be like,
    0:25:58 “Hala, stop saying how much money you make.”
    0:25:59 And I’m like, why?
    0:26:02 – My own parents who taught me about money
    0:26:04 are the ones who will call me
    0:26:06 and be like, “I’m really worried about you.
    0:26:07 “I’m really worried about you talking
    0:26:09 “about how much money you make.”
    0:26:10 And they’re not wrong though.
    0:26:12 That ’cause that’s the thing.
    0:26:13 That’s another example.
    0:26:14 Men can talk about how much money they make
    0:26:16 and they’re lauded.
    0:26:19 Women, it’s a risk, a career risk,
    0:26:22 a like literally safety risk.
    0:26:26 It becomes a risk when you are transparent about money
    0:26:28 in a way that just it isn’t for men.
    0:26:30 And so I am doing the same thing where like,
    0:26:32 I will show you my pay steps.
    0:26:33 I will show you how much I make.
    0:26:36 I also now know that there is a certain inherent risk
    0:26:38 to that just because of my gender identity
    0:26:41 in a way that there isn’t for a straight white man.
    0:26:42 There just isn’t.
    0:26:43 It’s so crazy.
    0:26:46 And again, we have this own internalized stuff
    0:26:47 going on ourselves, right?
    0:26:50 This is not like men necessarily like putting this on us.
    0:26:53 This is so many women coming to me being like,
    0:26:54 “Yeah, but I should just be grateful
    0:26:55 “that I have a job at all.”
    0:26:56 And I’m like, “Yes.”
    0:26:59 And you’re not being compensated fairly.
    0:27:00 So let’s get you a raise.
    0:27:06 – So let’s talk about how women are shamed for spending
    0:27:08 and the double standards around that.
    0:27:10 – I have a whole section of my book.
    0:27:12 We have a whole chapter about spending.
    0:27:15 And one of the just such interesting things
    0:27:17 ties back to what I was saying before
    0:27:20 of like the Rolex problem, right?
    0:27:21 Men can purchase Rolexes
    0:27:23 and it’s like you’re doing well for yourself.
    0:27:25 Women have the audacity to spend money
    0:27:26 on anything remotely nice.
    0:27:28 And it’s like, why aren’t you donating more?
    0:27:29 That was a waste of money.
    0:27:33 Specifically, let’s talk about how we think
    0:27:35 of spending in general.
    0:27:38 The words frivolous spending
    0:27:40 almost are only attached to women.
    0:27:42 And what are the things that are deemed frivolous?
    0:27:44 Things that are innately feminine,
    0:27:49 lattes, pedicures, manicures, again, designer bags.
    0:27:51 The things that we deem frivolous
    0:27:54 are the things that are innately feminine.
    0:27:57 They’re not NFL season tickets or golf clubs.
    0:27:59 So when you Google like how to save money 2023,
    0:28:02 the advice is still minimize.
    0:28:04 The advice for men is maximize.
    0:28:06 Maximize your earning, right?
    0:28:09 Maximize your investments.
    0:28:10 How can you make more money?
    0:28:12 How can you expand?
    0:28:14 The advice for women is how can you spend less?
    0:28:16 How can you shrink?
    0:28:18 The advice for men getting rich is make more money,
    0:28:19 which is good advice.
    0:28:22 But the advice for women is spend less money.
    0:28:25 There’s only so much less money you can spend.
    0:28:27 In theory, you can make as much money as you want.
    0:28:29 Again, that’s like a huge asterisk.
    0:28:33 But in theory, you can only not spend
    0:28:34 up to a certain point.
    0:28:36 You still have to pay your rent.
    0:28:38 You still have to buy food for yourself.
    0:28:42 So it’s really interesting the difference there
    0:28:44 in how, again, we educate people about money
    0:28:47 and specifically like what is deemed frivolous.
    0:28:50 The frivolous spending is stuff that’s innately feminine.
    0:28:52 – Yeah, super, super interesting stuff.
    0:28:56 I want to move on to talk about the psychology of money
    0:28:57 and mindsets behind money.
    0:29:01 So you say that we have to understand our emotions
    0:29:04 behind money and that money is not inherently bad.
    0:29:08 So how should we start reframing our mindset around money?
    0:29:11 – Yeah, when I was embarking on writing my book
    0:29:14 and really educating people about money in general,
    0:29:18 I was like, okay, we got to get to the actionable advice
    0:29:18 ’cause that’s what I’m really good at.
    0:29:20 I’m really good at like, you do this
    0:29:21 and then you do this and you do this
    0:29:23 and here’s what a Roth IRA is
    0:29:25 and here’s how to take advantage of one.
    0:29:27 And what happened in my early days,
    0:29:29 I used to do one-on-one coaching with people
    0:29:30 and what would happen is they would be successful
    0:29:32 for a period of time,
    0:29:33 but then they would fall off the bandwagon
    0:29:35 for whatever reason.
    0:29:37 And when I would ask them or like dig into that deeper,
    0:29:38 I started to realize,
    0:29:41 oh, there’s so many emotional hangups.
    0:29:44 There are so many psychological trauma,
    0:29:46 quite honestly, about money.
    0:29:49 Money is emotional, it’s psychological.
    0:29:51 When it’s good, when it’s bad,
    0:29:54 we feel a certain way about every financial choice we make,
    0:29:56 whether that’s how we spend our money,
    0:29:59 how we’re saving our money, what we’re saving it for,
    0:30:01 everything is psychological.
    0:30:04 So I very intentionally spent the first chapter
    0:30:06 before we go into the rest of it,
    0:30:08 before we go into the how to pay off debt
    0:30:09 and how to budget,
    0:30:11 about how to navigate the emotional,
    0:30:13 psychological sides of money.
    0:30:16 Even we were talking about before these kind of like narratives,
    0:30:17 you’re told about money.
    0:30:19 The biggest one is you shouldn’t talk about money.
    0:30:20 That’s impolite, right?
    0:30:22 You shouldn’t talk about money.
    0:30:23 That is a psychological narrative
    0:30:26 meant to keep you underpaid and overworked.
    0:30:27 Because if you don’t talk about money,
    0:30:29 you don’t know that Chad,
    0:30:30 who was hired two years after you
    0:30:32 is making 20% more than you.
    0:30:36 You don’t know that the debt shame you feel
    0:30:37 your friend group feels too.
    0:30:39 You don’t know.
    0:30:41 That’s one of those that is so steeped in us.
    0:30:45 The other one is that money can’t buy you happiness.
    0:30:47 That is complete and utter bullshit.
    0:30:50 Money can 100% buy you safety and stability
    0:30:53 and that for most people is happiness.
    0:30:55 Now, it’s true in theory, right?
    0:30:58 You shouldn’t buy a Ferrari to make you happy.
    0:31:02 But it buys me the freedom to purchase something
    0:31:04 that feels like a small luxury
    0:31:09 or to hire a house cleaner if I need to do that
    0:31:11 and to be able to tip them 30%.
    0:31:14 There’s so much flexibility that that offers
    0:31:15 and I would argue that that is happiness.
    0:31:18 But again, that’s a narrative told to you
    0:31:20 that you have internalized
    0:31:23 in order to not have you pursue money.
    0:31:25 And one of the other ones is this misconception
    0:31:27 that like if you work hard,
    0:31:29 you will be financially successful.
    0:31:31 Plenty of people, I would argue most people
    0:31:33 work their fucking asses off
    0:31:35 and yet have nothing to show it for financially
    0:31:37 because of again, of this system
    0:31:39 that constantly keeps them in poverty.
    0:31:42 So there’s so many things that we have ingrained
    0:31:45 or narratives we’ve started to believe.
    0:31:46 And these start from our parents,
    0:31:47 these start from society,
    0:31:50 these start from again, how we’re raised around money.
    0:31:53 And so the first step to start unpacking that
    0:31:55 is to figure out what sort of again,
    0:31:59 misconceptions or narratives have I been believing?
    0:32:02 And do I want to carry those with me?
    0:32:05 Do I believe that talking about money is taboo?
    0:32:09 Do I believe that actually it’s okay to talk about sex
    0:32:11 and death and politics and religion
    0:32:13 and anything else controversial
    0:32:14 before I’ll talk about money
    0:32:15 ’cause that’s what the stats say right now.
    0:32:18 We’re more likely to have any other uncomfortable conversation
    0:32:20 before we’ll have a financial conversation.
    0:32:25 Do I want to see people who have money as inherently evil?
    0:32:28 Is that something that I want to carry with me?
    0:32:30 You have to decide that for yourself.
    0:32:31 And the other practice I do in my book
    0:32:33 and we can even do this live if you’d like
    0:32:36 is thinking about your first money memory.
    0:32:39 – I was gonna bring that up next, so let’s do it.
    0:32:41 – What is the first time you remember thinking about money
    0:32:44 because that will have a huge impact
    0:32:46 on the way you’re viewing money in general
    0:32:48 because it’s again, it’s how your parents
    0:32:51 or how your caregivers were using money.
    0:32:54 So my first money memory is saving any penny
    0:32:58 or change I had in that Altoids tin to go see a musical.
    0:33:01 The theater major runs deep.
    0:33:02 But like that was what I wanted to do
    0:33:04 ’cause my mom told me if you want a ticket to this
    0:33:05 you need to save your money.
    0:33:08 So I internalized, okay, if I want something
    0:33:09 I have to save my money.
    0:33:11 I have plenty of other people I’ve talked to
    0:33:14 my first money memory is my parents screaming at each other
    0:33:16 and arguing about how they didn’t have enough money.
    0:33:21 My money memory is having to get its separate line
    0:33:23 and a separate ticket to get like my school funded lunch
    0:33:27 because my parents couldn’t afford my school lunch.
    0:33:28 There’s plenty of money memories
    0:33:29 that have everything to do
    0:33:31 with how you’re managing money now.
    0:33:33 So if you’re willing to share
    0:33:34 what your first money memory is.
    0:33:36 – So I remember I have two cousins
    0:33:38 that lived down the street that are my age
    0:33:41 and we had a master plan that we were gonna save money
    0:33:42 to go to Disneyland.
    0:33:47 And so we had a big plastic crayon piggy bank
    0:33:51 that we’d fill with quarters and I would put them to work.
    0:33:54 I would make them create little paintings and pictures
    0:33:56 and then sell it at Sunday school.
    0:33:59 And we’d have like slushy stands in the summer.
    0:34:00 – Hustling.
    0:34:03 – I’d be like massaging my parents’ feet for $20.
    0:34:05 Like I was always hustling
    0:34:08 to try to make this money for Disneyland.
    0:34:10 And then I think we did it for like two years
    0:34:12 and then we, I think we just like blew the money
    0:34:14 at the mall or something and like switched gears.
    0:34:17 But it was actually making money
    0:34:21 as a little entrepreneur, putting my cousins to work
    0:34:23 so that we could fund this Disneyland trip.
    0:34:25 And so I always felt like I guess anything was possible
    0:34:29 in terms of money and just making it happen.
    0:34:32 So pretty interesting.
    0:34:36 – Yeah, it’s so crazy to think about how it connects, right?
    0:34:40 And how it ends up manifesting in our lives now.
    0:34:42 So if anybody at home can do that
    0:34:43 and can start digging into that.
    0:34:45 And then the follow up question is not just
    0:34:49 what is my money memory, but how does my first money memory
    0:34:51 again shape the way I’m managing money now?
    0:34:53 What through lines are there?
    0:34:54 And sometimes it’s the exact opposite.
    0:34:56 Like we were talking about before of,
    0:35:00 I see again a lot of first gen or people of color,
    0:35:02 they saw their parents not grow up with a lot.
    0:35:06 And so then their thought is any dollar I get I have to save.
    0:35:08 And I have no flexibility with myself at all
    0:35:11 because I’m not sure when my next paycheck’s coming, right?
    0:35:15 So even money memories that could be deemed positive of,
    0:35:19 okay, it’s encouraging me to save, but at what cost, right?
    0:35:22 Are you completely depriving yourself of all joy?
    0:35:23 Well, that’s not great either.
    0:35:25 I had a client that I mentioned in the book
    0:35:27 who was saving 90% of her income.
    0:35:29 And she wasn’t, you know, making a million dollars.
    0:35:31 It was like 90% of 75K.
    0:35:35 And I was like, you don’t need to save that much.
    0:35:37 But when we dug into it, she didn’t grow up with a lot.
    0:35:39 And she was like, I need to save every single penny
    0:35:42 because I don’t know what the future holds for me.
    0:35:44 And I’m like, you can ease off the gas.
    0:35:45 It’s okay.
    0:35:47 It’s okay to not to save all of this money.
    0:35:49 – Yeah, this reminds me of,
    0:35:52 I had a remit Seiti on the show
    0:35:54 and he talks about this concept of a rich life.
    0:35:55 And basically- – Rich life, baby.
    0:35:57 – Yeah. – He came on our show
    0:35:58 as well and talked about it.
    0:36:00 And then he’s also featured in my book Financial Feminists.
    0:36:04 But yeah, perfect, perfect example of what is your rich life?
    0:36:07 What is the life you dream for yourself
    0:36:09 that money can afford you, totally?
    0:36:10 – Yeah, totally.
    0:36:12 So just for context for my listeners,
    0:36:13 basically what he says is like,
    0:36:16 you should have these different categories or money dials,
    0:36:19 figure out what you like to spend money on
    0:36:21 and go ahead and splurge in those areas
    0:36:23 and then really pull back on the areas
    0:36:25 that you don’t care about
    0:36:27 and don’t worry about feeling judged.
    0:36:31 So for example, I like to spend a lot of money on clothes
    0:36:32 and shoes and bags.
    0:36:34 Certain people are like, you shouldn’t do that.
    0:36:38 That’s bad, but I’ve released myself from any of that guilt
    0:36:40 and I’ve set up my money dial.
    0:36:44 So for you, what does your rich life look like?
    0:36:46 – Yeah, Remit has a huge impact
    0:36:48 on the way I manage money and the way I teach it.
    0:36:51 We call them value categories at her first center K.
    0:36:53 So it’s like three areas in your life
    0:36:54 that bring you the most joy
    0:36:55 that you want to see your money going to.
    0:36:57 And then very similar to him,
    0:36:59 you spend most of your money there
    0:37:01 and then you don’t spend a lot of your discretionary
    0:37:02 you spend elsewhere.
    0:37:06 So my three value categories are travel, food out.
    0:37:08 I am a huge foodie.
    0:37:10 I love going to restaurants and plants.
    0:37:14 There’s like probably 15 in this room.
    0:37:16 There’s like one in the corner.
    0:37:16 I love them.
    0:37:18 They’re my babies.
    0:37:19 I love spending money on them.
    0:37:21 I will buy their cute little pots.
    0:37:22 I will buy hangers for them.
    0:37:24 Like I love my plants.
    0:37:25 Do I buy the occasional Starbucks?
    0:37:29 Yeah, do I, you know, just water sale at TJ Maxx?
    0:37:30 Yeah, I’m in there like swimwear.
    0:37:34 However, I am not spending all of my money on those things
    0:37:36 because those are the things that are less important to me.
    0:37:38 Yeah, and I think the big message here
    0:37:42 is don’t feel guilt about what you love to spend money on.
    0:37:43 Because it’s your happiness.
    0:37:44 It’s your life.
    0:37:47 Society tells you that you can spend money on travel,
    0:37:48 but you can’t spend it on luxury
    0:37:52 and whatever society wants to kind of dictate.
    0:37:53 But don’t worry about that
    0:37:55 and live your own happy rich life.
    0:37:59 So speaking of another sort of tool that you talk about,
    0:38:01 you’ve got this concept of a money diary.
    0:38:03 Can you explain to us what that is
    0:38:05 and the framework around that?
    0:38:07 Yeah, it was a practice that I started doing
    0:38:09 when I would coach clients one-on-one.
    0:38:12 And it was this realization of, you know,
    0:38:15 I would ask people, okay, what money’s coming in?
    0:38:18 And they could total that up for me, usually, right?
    0:38:20 Like, okay, I’m getting paid this amount during this time.
    0:38:22 And, you know, maybe I have this side hustle
    0:38:23 or if you’re a business owner, right?
    0:38:25 I have, you know, these four clients
    0:38:27 and these are my revenue streams.
    0:38:30 And then I would say, okay, where is that money going?
    0:38:32 And they would kind of be like, well,
    0:38:33 I think it’s going to this.
    0:38:35 And then we would look at their credit card statements
    0:38:36 and they’re like, just kidding.
    0:38:38 I have no idea where the hell my money went.
    0:38:38 I don’t know.
    0:38:41 And if that feeling is your feeling
    0:38:42 of I look at my bank account and I’m like,
    0:38:43 I don’t know where my money went,
    0:38:45 then this is the practice for you.
    0:38:49 It’s literally writing down every purchase you make,
    0:38:51 especially discretionary purchases for a period of time.
    0:38:53 And it’s not to shame you.
    0:38:56 It’s more just to watch what behavior
    0:38:57 and what sort of mindset you have.
    0:39:00 So again, talk about this more in my book,
    0:39:01 but you do four things.
    0:39:03 You write down where you spent the money
    0:39:05 or what you spent it on, how much.
    0:39:08 So I went to Starbucks, about a $5 mocha, right?
    0:39:10 And then why you made the purchase
    0:39:11 and how it made you feel.
    0:39:12 I was meeting up with a friend
    0:39:13 and it made me feel great
    0:39:15 ’cause I haven’t seen her in a while.
    0:39:17 The why and how it made you feel
    0:39:18 is the transformational part.
    0:39:21 Because again, money’s psychological.
    0:39:22 It’s emotional.
    0:39:26 I need you to understand why you’re making this purchase.
    0:39:28 Is it, I went out with my friends
    0:39:29 and I had a little too much to drink
    0:39:32 and I suddenly was buying shots for the entire bar.
    0:39:35 Cool, probably wasn’t a great use of your money.
    0:39:37 Maybe it was, I don’t know.
    0:39:38 For me, probably not a great use of my money.
    0:39:40 Now, am I shaming and judging myself?
    0:39:41 No, 100% not.
    0:39:43 I’m just like, interesting.
    0:39:47 Okay, I did that because I maybe wanted this feeling
    0:39:50 of belonging or I wanted this feeling of I am ballin’ out
    0:39:53 and I can show people that I can buy an entire round.
    0:39:54 Maybe it’s, okay, I bought this pair of shoes
    0:39:56 I didn’t need and didn’t want
    0:39:58 because my boss made me feel like shit today, right?
    0:40:01 And I was spending to emotionally cope.
    0:40:04 I think we can all find a place in our life
    0:40:07 where we did that, especially like pandemic, right?
    0:40:10 I bought a $75 pregnancy pillow.
    0:40:10 Am I pregnant?
    0:40:12 Am I planning on becoming pregnant?
    0:40:14 No, did I need to feel something?
    0:40:15 Yes, yes.
    0:40:16 Was it a great purchase?
    0:40:18 Actually, yes, 100%.
    0:40:19 I still use it all the time.
    0:40:22 But that’s the thing is you have to start understanding
    0:40:24 my purchases, even the ones that are minor,
    0:40:26 are psychological and emotional.
    0:40:28 And what’ll start happening is before you lay down
    0:40:30 that credit card or before you hit add to cart,
    0:40:32 you’ll start going, okay, do I need this thing?
    0:40:33 Do I actually want this thing?
    0:40:35 Because I want your hard earned money
    0:40:37 going to things that you actually love.
    0:40:38 It’s your hard earned money.
    0:40:39 It doesn’t mean don’t spend it,
    0:40:40 like we were talking about before.
    0:40:42 It doesn’t mean don’t spend money.
    0:40:44 It just means spend your hard earned money
    0:40:46 on things that light you on fire.
    0:40:47 And if it doesn’t light you on fire,
    0:40:49 we don’t do lukewarm in 2023.
    0:40:52 We don’t do lukewarm with spending, with men.
    0:40:53 We don’t do lukewarm.
    0:40:56 Like we don’t do lukewarm in 2023.
    0:40:58 We do things that light us on fire.
    0:41:00 So if that’s something that you’re like,
    0:41:01 I don’t care, then don’t worry about it.
    0:41:03 – Yeah, I really like that advice
    0:41:06 because what it does is it uncovers all these things
    0:41:08 that you may have not realized
    0:41:11 in terms of what was actually driving your actions.
    0:41:14 And then it will also uncover, this is genuine.
    0:41:15 I genuinely like doing this.
    0:41:16 This made me feel good.
    0:41:20 There was no like ulterior reason for why I did it.
    0:41:22 That’s like in my subconscious mind.
    0:41:25 So I really like this advice.
    0:41:28 Another piece of advice from your book Financial Feminist
    0:41:30 is this idea of a financial priority list.
    0:41:35 And you give like a one time, I think four step outline
    0:41:36 of what you should tackle first.
    0:41:38 And I thought I could bring this up
    0:41:40 and kind of ask some follow up questions,
    0:41:42 make it more relevant to my audience.
    0:41:45 So number one in this financial priority list
    0:41:47 is to start an emergency fund.
    0:41:51 So what are the details or recommendations around this fund
    0:41:53 and why do you think that’s step number one?
    0:41:55 – Yeah, one of the misconceptions I hear a lot
    0:41:59 is I need to pay off my debt first before I save.
    0:42:03 I just so strongly disagree with that for a couple of reasons.
    0:42:06 One, I don’t want you going into more debt
    0:42:07 trying to pay for an emergency
    0:42:09 because one will come up, right?
    0:42:12 And the second is that we prioritize mental health
    0:42:13 at her first under K.
    0:42:15 And like we were talking about this before
    0:42:18 of this feeling of stability or this feeling of choice,
    0:42:20 there is something so soothing
    0:42:22 about your head hitting the pillow at night
    0:42:23 and knowing that you’re covered.
    0:42:26 You lose your job tomorrow, you get laid off,
    0:42:27 you’re gonna be fine.
    0:42:30 A medical unexpected medical cost comes up,
    0:42:31 you’re gonna be fine.
    0:42:33 Or at least fine for a period of time, right?
    0:42:35 The emergency funds there to tide you over.
    0:42:37 So there’s something so freeing about that
    0:42:40 but also so comforting about that mentally.
    0:42:42 Just knowing like, okay, I’m good.
    0:42:44 Your emergency funds should be at least three months
    0:42:46 of living expenses in a high yield savings account.
    0:42:48 It’s a good starter emergency fund.
    0:42:51 That is our first step before we pay off any kind of debt
    0:42:52 and that includes credit cards.
    0:42:53 So that’s priority number one,
    0:42:56 is that emergency fund in a high yield savings account.
    0:42:57 Everybody listening,
    0:42:59 if you do not have a high yield savings account,
    0:43:02 you are losing amounts of money on interest.
    0:43:04 It’s the easiest thing you can do
    0:43:05 to immediately better your life
    0:43:07 because it’s just like a savings account
    0:43:08 except a higher yield.
    0:43:11 It’s just going to boost your savings.
    0:43:12 If your savings is just gonna sit there,
    0:43:14 which is what we want,
    0:43:16 we may as well have it work hard or feel.
    0:43:17 So that’s priority number one.
    0:43:20 Priority number two is paying down debt
    0:43:22 that is over 7% in interest.
    0:43:23 Why 7%?
    0:43:25 Well, that’s the average amount we can expect
    0:43:26 in the stock market, right?
    0:43:27 Seven to 8%.
    0:43:30 So if your debt is costing you more money
    0:43:31 than you could be earning somewhere else,
    0:43:33 that needs to be paid off first.
    0:43:34 Credit cards, every credit card
    0:43:36 is over 7% in interest, right?
    0:43:39 So we want to start paying down our credit card debt next.
    0:43:41 Some student loans are, all credit cards are.
    0:43:43 So anything above 7% start paying that down
    0:43:47 and making sure you’re staying out of debt in the meantime.
    0:43:50 The third priority is kind of like a two-parter
    0:43:51 where you’re saving for your retirement,
    0:43:54 you’re starting to prioritize your retirement savings,
    0:43:56 while also paying down your lower interest debt,
    0:43:58 anything under that 7% to 8%.
    0:44:01 So most student loans, car loans, mortgages.
    0:44:03 And then finally, as you’re starting to save for retirement
    0:44:05 and as you’re paying down your lower interest debt,
    0:44:07 start saving for what I call like the big life stuff,
    0:44:10 the new car, the house, the getting married,
    0:44:12 the having children, the starting a business,
    0:44:14 the retiring early, right?
    0:44:16 The big things that you need to save for.
    0:44:18 The only thing that trumps this list
    0:44:19 or that adjusts it a little bit
    0:44:22 is if you get a 401(k) match at work.
    0:44:26 A match is, if it’s 3%, that means if you contribute 3%
    0:44:28 that your employer will match you at 3%, right?
    0:44:32 So we do a lying king one and a half kind of situation
    0:44:33 and it slides in right between one and two.
    0:44:35 So one is that emergency fund,
    0:44:37 one and a half is getting that 401(k) match
    0:44:39 because it’s free money.
    0:44:39 And we’re actually gonna do that
    0:44:42 before we start paying off our credit card debt.
    0:44:45 – We’ll be right back after a quick break from our sponsors.
    0:44:50 (whooshing)
    0:44:52 Okay, couple of follow-up questions here.
    0:44:55 A lot of my listeners are freelancers,
    0:44:57 entrepreneurs, solopreneurs.
    0:45:00 If there’s no 401(k),
    0:45:03 is there another alternative that you suggest?
    0:45:03 – 100%.
    0:45:05 So we have a section in the book
    0:45:06 that breaks down retirement accounts
    0:45:09 for various different kinds of income sources.
    0:45:12 So W2, right, if you’re a nine to fiveer,
    0:45:13 if you get that 401(k), great.
    0:45:17 An IRA, either a Roth or traditional IRA are great options.
    0:45:19 That is an individual retirement account.
    0:45:20 That’s what IRA stands for.
    0:45:23 You can also open up an IRA if you’re a self-employed person.
    0:45:25 I have a Roth IRA.
    0:45:26 It’s actually a great option for you
    0:45:27 because it’s not tied to an employer,
    0:45:29 even your business.
    0:45:30 It is something that is yours.
    0:45:34 I believe the maximum this year is 6,500 unless you’re over 55.
    0:45:35 So that’s a great option.
    0:45:38 There’s also a various different self-employed options.
    0:45:41 There’s actually a solo 401(k) that you can open
    0:45:42 that works just like a 401(k)
    0:45:44 except you’re your own sponsor
    0:45:46 because you’re your own business owner.
    0:45:48 The other thing that’s really cool
    0:45:50 that I took advantage of when I was side hustling
    0:45:51 is what’s called a SEP IRA.
    0:45:55 A SEP IRA can be for full-time business owners
    0:45:58 or for people who are making some sort of money
    0:45:59 in a side business.
    0:46:01 So when I was at my nine to five,
    0:46:02 I had my 401(k) through work.
    0:46:04 I had my Roth IRA.
    0:46:07 And then I actually had my SEP IRA through my business.
    0:46:09 So when you’re a full-time business owner,
    0:46:11 a full-time freelancer, you got to pick one or the other,
    0:46:13 either a solo 401(k) or a SEP IRA.
    0:46:15 But the SEP IRA contribution limits
    0:46:18 are something in the $60,000 range this year.
    0:46:20 So it’s a really, really great opportunity for you
    0:46:22 to start saving for retirement.
    0:46:23 Very similar to your question,
    0:46:25 I think a lot of people who are self-employed
    0:46:27 or freelancers are like, there’s no options for me.
    0:46:30 There’s actually, I would argue, better options for you.
    0:46:32 I know that when I was working my nine to five,
    0:46:35 sometimes my nine to five didn’t offer a 401(k) at all.
    0:46:37 And so I didn’t have that option.
    0:46:38 When you are your own employer,
    0:46:42 you can open up whatever retirement plan makes sense for you
    0:46:44 and for your business.
    0:46:46 – This is all really, really great advice.
    0:46:47 They’re so knowledgeable.
    0:46:50 I mean, screw everyone who says,
    0:46:52 you only have a theater background.
    0:46:54 – Oh, I mean, I can show you bank statements.
    0:46:56 It’s always men who are user.
    0:46:58 It’s anonymous users in there.
    0:46:59 Literally, I got one last night that’s like,
    0:47:01 how are you qualified?
    0:47:03 And I was like, does the New York Times best-selling author
    0:47:06 and millionaire business owner work?
    0:47:07 And he was like, no.
    0:47:09 And I was like, okay, we can compare bank statements.
    0:47:11 I’m doing fine.
    0:47:14 Bless and block wish you the best.
    0:47:16 – Okay, so another question,
    0:47:17 and this is related to debt.
    0:47:20 And I really want you to try to dig deep
    0:47:21 in explaining this,
    0:47:23 ’cause I think this is really important.
    0:47:25 Sometimes it makes sense to pay off debt.
    0:47:26 You did allude to this a bit.
    0:47:29 Sometimes it makes sense to pay off debt as soon as you can.
    0:47:32 Sometimes it makes sense to actually let that debt linger
    0:47:35 and leverage your cash differently
    0:47:37 and make more money on your money.
    0:47:38 Talk to us about that
    0:47:40 because I think a lot of people get this wrong.
    0:47:42 – This word you just used, leverage.
    0:47:47 So the word debt is associated in our society with shame.
    0:47:50 And even the very people we have sought out
    0:47:52 to teach us how to manage money,
    0:47:54 my nemesis Dave Ramsey, right?
    0:47:56 As he has told you that debt is wrong and bad
    0:47:58 and needs to be eradicated immediately.
    0:48:01 Debt is for poor people.
    0:48:04 But when you get to a certain level of financial standing,
    0:48:06 debt has a new name.
    0:48:09 It gets like fancy Gucci shoes
    0:48:11 and suddenly it’s called leverage.
    0:48:13 It’s the same thing.
    0:48:15 But leverage is this idea of,
    0:48:19 you’ll see like Adele buy this $30 million house
    0:48:20 and take out a mortgage.
    0:48:23 We know Adele has $30 million, right?
    0:48:25 She could buy that house cash.
    0:48:26 Why doesn’t she?
    0:48:31 She doesn’t because she could be using the money
    0:48:35 that she would put towards buying that in cash,
    0:48:36 towards a different investment
    0:48:38 that’s going to make her more money.
    0:48:40 So she’s willing to take on the mortgage,
    0:48:41 which at the time I think when she bought the house
    0:48:43 was like 4% interest
    0:48:45 because she’s gonna make more money somewhere else.
    0:48:47 So the question that I was alluding to before
    0:48:50 of like, do I pay off debt or do I invest?
    0:48:51 Depends on your interest rate.
    0:48:54 So if it’s less than you could be making in the stock market,
    0:48:57 it actually makes sense to prioritize investing.
    0:48:58 Now, if you’re in credit card debt
    0:49:00 and that’s 25% interest,
    0:49:03 nothing’s offering you 25% interest, right?
    0:49:06 So you need to start paying that off first.
    0:49:09 I will also say one of the biggest things that I believe
    0:49:11 is personal finance is personal.
    0:49:13 And that’s the math on this.
    0:49:15 But if you are the kind of person where you’re like,
    0:49:20 I know there would be a significant boost in my life
    0:49:22 if I didn’t have to worry about this anymore,
    0:49:23 cool, pay it off.
    0:49:26 But don’t neglect your retirement.
    0:49:27 This is again, Dave Ramsey is like,
    0:49:29 all of your debt needs to be gone.
    0:49:31 But most people have mortgages
    0:49:33 that they will be paying off for decades.
    0:49:34 So, okay, cool.
    0:49:36 You buy a house hypothetically at 30,
    0:49:39 you pay it off when you’re 50,
    0:49:40 then you start saving for retirement.
    0:49:42 Like that doesn’t work.
    0:49:43 That financially doesn’t work.
    0:49:45 You’re not gonna have enough time
    0:49:47 to be able to contribute for retirement.
    0:49:50 So don’t ever feel like debt is this thing
    0:49:52 that needs to be eradicated at all costs.
    0:49:54 There are variations of debt, right?
    0:49:56 Some is debt is quote unquote like worse than others
    0:49:58 because of that interest rate.
    0:49:59 It’s okay to have student loans.
    0:50:01 It’s okay to have a mortgage.
    0:50:03 I had a car loan for a long time
    0:50:05 because it was like 2% interest.
    0:50:07 I can make a lot of money investing
    0:50:10 that cash I would have put down
    0:50:11 towards paying that off faster
    0:50:15 or towards just not having a loan at all.
    0:50:16 And I can put that towards investing
    0:50:19 and make that 100K that I did.
    0:50:21 – To me, this is such a great strategy
    0:50:24 that so many people are not thinking about.
    0:50:25 Look at all your debt.
    0:50:27 See what your interest rates are.
    0:50:30 See where you can put that money differently
    0:50:32 and make more money and really plan it out.
    0:50:34 So I have another question for you, Tori.
    0:50:38 So I’m an entrepreneur and I’ve got this mentality
    0:50:40 in terms of like, I don’t care about retirement.
    0:50:41 I’m like a hustler.
    0:50:44 I always figure out how to make money.
    0:50:47 I’m not inspired to save money for retirement.
    0:50:49 What inspires me is I’ll buy whatever I want
    0:50:51 and then I’m like, all right, I’ll just make more money.
    0:50:53 You know what I’m figuring out how to make more money.
    0:50:57 And I invest a lot in my own business, right?
    0:51:00 And take a lot of risks because it’s served me well.
    0:51:03 I take risks and then I make higher rewards typically, right?
    0:51:06 And I’m investing myself continually.
    0:51:08 Whether that’s my own company, starting new companies,
    0:51:11 investing in teammates, whatever it is.
    0:51:13 And so I guess my question is this whole idea
    0:51:16 of saving for retirement feels so passive to me
    0:51:19 and feels like very uninspiring.
    0:51:21 And I just love to hear your thoughts about that.
    0:51:23 – It’s really interesting.
    0:51:24 Thank you for sharing.
    0:51:26 Two things, the average person,
    0:51:29 like you will not be able to retire if you don’t invest.
    0:51:31 So to get the average person investing
    0:51:33 and maybe this will connect with you,
    0:51:38 I try to have them picture what 65 year old you looks like
    0:51:40 because there is this arbitrary thing
    0:51:41 where you’re just like, I’m saving for this thing
    0:51:43 that’s so far away, especially if you’re like 20s or 30s.
    0:51:46 You’re like, what’s the point?
    0:51:49 65 year old Tori, Nana Tori
    0:51:51 is going to be drinking Savion Blanc with lunch.
    0:51:53 She’s going to be flirting with her
    0:51:55 a much younger Pilates instructor named Luca.
    0:51:58 She has a Tuscan villa where she adopts dogs.
    0:52:01 She is somehow more badass than I am right now.
    0:52:03 And I can’t wait to meet her.
    0:52:05 But she doesn’t get all of that
    0:52:08 unless I do some heavy lifting right now.
    0:52:09 So again, we were talking about this
    0:52:10 as a perfect roundabout.
    0:52:12 We were talking about before at the very beginning
    0:52:16 of the interview about how do I attach something emotional
    0:52:18 so that I am motivated to do it.
    0:52:20 I literally can picture 65 year old Nana Tori
    0:52:23 with her cute little handbag and her little wrinkles,
    0:52:25 but she’s just so excited to be alive.
    0:52:29 I have to save money in order to get her to that place.
    0:52:31 On the flip side, I’m 28.
    0:52:34 I will never have to work another day if I don’t want to
    0:52:36 because I have saved enough.
    0:52:41 I have the option to burn all of HFK to the ground tomorrow
    0:52:44 if I wanted to and never work again and still be fine
    0:52:48 because I have saved and invested enough money
    0:52:49 from all of the money I’ve made.
    0:52:51 Now I won’t do that for many reasons.
    0:52:52 I love what I do.
    0:52:55 It continues to make a huge impact, right?
    0:52:56 Like I won’t do that.
    0:52:58 I will continue to make a lot of money.
    0:53:00 The business will continue to make a lot of money.
    0:53:04 But I have the option as someone who isn’t even 30 yet
    0:53:07 to stop working, work is now optional.
    0:53:09 There is something so freeing about that.
    0:53:11 So in the same way that it sounds like it is freeing
    0:53:13 for you to be like, I can just make more money.
    0:53:16 I feel that way in some aspects
    0:53:17 where it’s kind of cool to just be like,
    0:53:20 yeah, I could put something on sale and make 20K in a day.
    0:53:21 That’s great.
    0:53:25 But I also get so much stability and happiness
    0:53:28 and excitement out of the baller ass move
    0:53:30 that is like, yeah, I don’t have to work.
    0:53:34 So in terms of that mindset shift for me,
    0:53:37 I started reading about financial independence
    0:53:39 when I was in my early 20s.
    0:53:41 And it was less like, especially in the early days
    0:53:44 that 100K it was less about how much money can I make
    0:53:45 or how much money can I earn?
    0:53:48 And more like, what can I put away so that I have options
    0:53:51 and I can save as much as possible
    0:53:53 and invest as much as possible
    0:53:57 while still traveling and going out to restaurants
    0:53:59 and having the experience that I want
    0:54:00 as somebody in their 20s.
    0:54:03 So I think that that for me was the kind of shift,
    0:54:07 the ability to have this money saved
    0:54:09 that work is optional.
    0:54:11 – Yeah, and I think that we should all take this,
    0:54:12 what do you call it, Nana vision?
    0:54:14 – Nana, yeah, I literally call it in the book
    0:54:17 like grandparent you or like Nana you like,
    0:54:18 what does that look like?
    0:54:21 And again, like we were talking about remit,
    0:54:23 your rich life, like your Nana version of you
    0:54:25 is gonna look different, right?
    0:54:27 I’ve asked people in workshops before,
    0:54:28 like what does Nana you look like?
    0:54:30 And for some people, yeah, it’s very similar to mine.
    0:54:32 It’s like adopting dogs and like not giving a fuck.
    0:54:35 And for other people, it’s just like, I feel content.
    0:54:37 I have enough money, I feel content, I’m not stressed.
    0:54:40 And I’m like, great, that’s amazing, that’s amazing.
    0:54:41 – I think mine is living in Miami
    0:54:44 with like a pink Lamborghini or something.
    0:54:45 – Perfect, perfect.
    0:54:47 And it doesn’t mean I sacrifice everything now,
    0:54:49 it just means that I am balancing that
    0:54:52 to make sure that she’s not living in poverty,
    0:54:54 but she’s not having a good time
    0:54:57 because I didn’t do a little bit of the heavy lifting now.
    0:54:59 – Okay, so let’s close out this interview
    0:55:02 talking about earning potential since we just brought that up
    0:55:05 and how it’s not just about saving investing.
    0:55:07 We talk a lot about that on the podcast.
    0:55:10 You started your business as a side hustle.
    0:55:12 So I’d love to close out the interview
    0:55:14 getting your best side hustle advice.
    0:55:16 Why do you think side hustles are something smart
    0:55:18 that people should consider?
    0:55:19 And what are your suggestions
    0:55:22 in terms of getting started with a side hustle?
    0:55:25 – Yeah, wanna acknowledge that sometimes a side hustle
    0:55:27 is just a fancy word for a second job
    0:55:29 and it’s not a choice, it’s a necessity.
    0:55:31 And if you are the person who’s working a second job
    0:55:33 because you cannot afford life,
    0:55:36 it might feel a little cringey to hear me talk about
    0:55:37 side hustles, this nice fancy thing
    0:55:39 where you can diversify your income
    0:55:40 or you’re just like, no, I need a second job.
    0:55:43 So wanna acknowledge if that’s you, I see you
    0:55:44 and I’m here to support you
    0:55:46 and I know that fucking sucks.
    0:55:47 In terms of actual side hustle,
    0:55:49 if you’re like, I wanna diversify my income
    0:55:51 or maybe I wanna be an entrepreneur someday
    0:55:54 or maybe I just wanna explore what this looks like.
    0:55:55 I’ll walk you through the exercise
    0:55:57 that I walk people through in my book.
    0:55:59 I call it the three T’s, time, talent, treasure.
    0:56:02 Time, how much time do you realistically have
    0:56:02 for this thing?
    0:56:03 A lot of people are like,
    0:56:05 oh, I’ll start a side hustle and I’ll be a business owner.
    0:56:06 And then they look at their calendar
    0:56:09 and they’re like, I have no time to do that.
    0:56:12 How much time are you realistically able to give?
    0:56:15 For talent, do you have something
    0:56:17 that you have already cultivated,
    0:56:19 a skill or talent that you’ve already cultivated
    0:56:20 that you wanna continue doing
    0:56:23 or do you wanna cultivate something else, right?
    0:56:25 For me, I was a social media marketer.
    0:56:28 I was good at that, I was good at storytelling
    0:56:31 that lent itself very well to be an entrepreneur.
    0:56:34 I had already had experience as well being an entrepreneur.
    0:56:35 For some people, they’re like,
    0:56:37 I wanna do something completely different
    0:56:38 or I wanna do something that’s more creative
    0:56:40 ’cause my job isn’t.
    0:56:42 It’s gonna take longer to get off the ground,
    0:56:45 most likely because you will have to cultivate that skill.
    0:56:47 And then finally, treasure is exactly what it sounds like
    0:56:50 of is this the thing you want to make money doing?
    0:56:52 I wish somebody had told me when I was 22
    0:56:55 that not every hobby needs to be monetized.
    0:56:57 Not everything you do that brings you joy
    0:56:59 needs to make you money.
    0:57:01 And in fact, there should be things in your life
    0:57:02 that don’t make you money.
    0:57:05 If this is a I wanna make money off of this
    0:57:07 or I need to make money off of this,
    0:57:09 becoming an entrepreneur is not immediately
    0:57:11 going to make you money.
    0:57:15 So if you want to be someone who is running their own business
    0:57:17 but you need money right now,
    0:57:19 probably not the best option.
    0:57:22 I didn’t see money from her first 100K for a couple years
    0:57:24 and I didn’t see substantial money from it
    0:57:26 until like year four.
    0:57:29 It did not pay my bills until year four.
    0:57:31 So that’s kind of what you have to balance.
    0:57:34 If you’re like, I need money tomorrow,
    0:57:35 catering a couple of days, right?
    0:57:38 Or becoming a part-time barista at Starbucks.
    0:57:41 There’s things that you can do more immediately
    0:57:42 to start making you money
    0:57:45 versus these things that are like the longterm plays
    0:57:47 that you hope eventually will make you a ton of money.
    0:57:49 You just won’t see it on the front end.
    0:57:52 So that’s the kind of questions to ask yourself
    0:57:55 to figure out what side hustle is right for you.
    0:57:56 Time, how much time do I have
    0:57:58 and how much time am I willing to spend?
    0:58:00 What kind of talents do I need
    0:58:02 in order to do the thing that I wanna do?
    0:58:04 Can I just do freelance social media?
    0:58:05 If I’m a graphic designer, okay,
    0:58:08 I’ll just become a freelance graphic designer on the side.
    0:58:10 And then finally, do you want this thing to make you money?
    0:58:13 And if so, how quickly does it have to make you money?
    0:58:15 Because that’s gonna shift what you choose.
    0:58:17 – And I think for me, when it comes to side hustle,
    0:58:19 something that I want my listeners to remember
    0:58:22 is that getting skills and experiences is so key
    0:58:24 before you go out and branch
    0:58:26 and start your own business and company.
    0:58:29 And so don’t underestimate working in corporate
    0:58:31 or working for another person
    0:58:32 or getting an internship
    0:58:35 and just really trying to get real life experience
    0:58:36 that you can then monetize.
    0:58:38 But you have to be good at something first,
    0:58:41 typically when you’re starting a side hustle.
    0:58:43 So I definitely wanna call that out.
    0:58:44 The other thing I wanna call out
    0:58:46 is that not all side hustles are sexy
    0:58:49 and not all side hustles need to be something
    0:58:51 that you’re passionate about.
    0:58:52 Can you talk to us about that?
    0:58:55 – Yeah, I don’t know if it’s a lie that’s fed to us
    0:58:58 that your work has to be your calling.
    0:58:59 No, there are many things
    0:59:02 that you can do outside of work that give you happiness.
    0:59:05 And as long as you feel like you’re compensated fairly
    0:59:08 and you have a general like of a thing,
    0:59:11 that doesn’t have to be your life’s work.
    0:59:14 That is really like America.
    0:59:15 You go anywhere in Europe and they’re like,
    0:59:17 yeah, I work and it’s fine,
    0:59:20 but I work so I can live, right?
    0:59:22 A lot of us here are just living to work.
    0:59:24 So your identity does not have to be your job
    0:59:26 and I would argue shouldn’t.
    0:59:27 I can take that advice for myself
    0:59:29 because my identity has become my job
    0:59:30 and become what I do.
    0:59:32 So when you’re thinking about making money,
    0:59:34 yeah, it definitely doesn’t have to be sexy.
    0:59:35 It doesn’t have to be the thing
    0:59:37 that looks good on Instagram.
    0:59:39 It can be something that’s making you money
    0:59:41 and giving you more financial security
    0:59:44 and it doesn’t have to be your life’s work
    0:59:46 or your like capital P passion.
    0:59:48 It could just be something that makes you money.
    0:59:49 And again, as long as you feel like
    0:59:52 I am like motivated somewhat, right?
    0:59:55 And it aligns with my values
    0:59:56 or it’s something that I feel
    0:59:58 like I’m getting compensated fairly at.
    0:59:59 Cool, go for it.
    1:00:04 – Tori, I end my show with two questions.
    1:00:07 The first one is what is one actionable thing
    1:00:09 our young and profitors can do today
    1:00:11 to become more profitable tomorrow?
    1:00:13 – Automate everything you possibly can.
    1:00:16 Automate your savings, automate your investments,
    1:00:17 automate your bills.
    1:00:21 If something has the ability to be automated, do it.
    1:00:24 I think we believe we get this gold star
    1:00:26 if we make things harder than they have to be.
    1:00:27 No, that’s not true.
    1:00:28 Especially when it comes to personal finance,
    1:00:31 if the option is available to you, automate it.
    1:00:31 – I love that.
    1:00:34 And what is your secret to profiting in life
    1:00:36 and this can go beyond financial?
    1:00:38 – I have realized over the past couple of years
    1:00:40 that confidence is a self-worth issue
    1:00:42 but no one’s talking about it like that.
    1:00:45 The biggest question, which is very flattering
    1:00:47 that I get asked other than a financial question
    1:00:49 is like, how are you so confident?
    1:00:51 Or like, how do you build your own confidence?
    1:00:54 I believe myself worthy of every opportunity
    1:00:57 of every piece of love and belonging.
    1:01:00 When I walk into a date, it is not,
    1:01:02 oh my God, is this person gonna like me?
    1:01:05 It is, how does this person fit in with my life?
    1:01:07 I’m not worried about how I’m presenting myself.
    1:01:09 I’m just trying to figure out,
    1:01:11 is this person worthy of me?
    1:01:13 Is this relationship worthy of my time?
    1:01:16 When I walk into a meeting with a client,
    1:01:18 I am wondering how is this person going to seem
    1:01:20 the value and the worth that I offer?
    1:01:22 And if they’re not, it’s not of interest to me.
    1:01:24 So in terms of building confidence,
    1:01:26 financial confidence, career confidence,
    1:01:30 relationship confidence, it is a self-worthiness issue.
    1:01:33 If you believe yourself worthy of love and opportunity
    1:01:36 and belonging and of every good thing,
    1:01:38 you will not be shocked when all of that starts happening
    1:01:40 in your life.
    1:01:43 I have never once questioned if I’m worthy of those things.
    1:01:46 I joke when I walk into a new therapist’s office,
    1:01:47 there are many other things we’re gonna have to talk about,
    1:01:49 but worthiness is not one of them.
    1:01:52 So when you believe yourself worthy of those opportunities,
    1:01:55 you will show up differently in every aspect of your life.
    1:01:57 – That’s a very beautiful attitude to have, Tori.
    1:02:00 Where can our listeners learn more about you,
    1:02:03 your new book, your podcast?
    1:02:04 – Thank you so much for having me.
    1:02:07 I am @herfirsthunderk on all the socials,
    1:02:09 H-E-R-F-I-R-S-T-1-0-0-K,
    1:02:11 you can also go to herfirsthunderk.com,
    1:02:13 and I host the Financial Feminist podcast,
    1:02:16 and I wrote the book Financial Feminist.
    1:02:18 – Amazing, we’ll stick all those links in the show notes.
    1:02:21 Thank you so much, Tori, I really enjoyed this conversation.
    1:02:22 – Thank you.
    1:02:26 (upbeat music)
    1:02:28 (upbeat music)
    1:02:31 (upbeat music)
    1:02:33 (upbeat music)
    1:02:43 [BLANK_AUDIO]

    After graduating from college in 2016, 22-year-old Tori Dunlap started an entry-level job in corporate marketing. But she set herself a goal: figure out a way to make $100,000 by the age of 25. She reached that goal three years later and quit her job. In doing so, she realized how money and personal finance are tools you can use to shape your life into something that you love. In this episode, Tori will offer some wealth-building tips and share how to set financial goals and invest mindfully to create a strong financial future.

    In this episode, Hala and Tori will discuss: 

    (00:00) Introduction  

    (01:35) Money as a Form of Protest  

    (03:59) How Tori Made $100K by 25  

    (06:41) Growing a Side Hustle Into Millions  

    (08:29) The Weaponization of Altruism  

    (12:58) The Freedom of a $100K Safety Net  

    (14:52) Why Financial Education Is Broken  

    (19:07) The Psychology of Money  

    (23:50) Why Women Are Shamed for Spending  

    (27:21) Reframing Your Money Mindset  

    (34:56) Spending Without Guilt or Shame  

    (40:06) How Much to Save for Retirement  

    (45:53) Side Hustles That Aren’t Sexy but Work  

    (49:34) Investing for Financial Independence  

    (53:35) Automate Your Way to Wealth  

    Tori Dunlap is an internationally recognized money and career expert, seven-figure entrepreneur, bestselling author, and top podcast host. CNBC called Tori “the voice of financial confidence for women,” and TIME said, “Tori Dunlap is on top of the personal finance world.” She is a Forbes 30 Under 30 honoree and the author of the New York Times bestselling book, Financial Feminist. Her First $100K is a feminist-first platform, using money as its medium and committed to fighting the patriarchy by making women rich.

    Connect with Tori:

    Tori’s Website: herfirst100k.com

    Tori’s LinkedIn:.linkedin.com/company/herfirst100k

    Tori’s Twitter: twitter.com/herfirst100k

    Tori’s Instagram: instagram.com/herfirst100k

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  • Dave Meyer: Build Your Real Estate Empire with Smart Investing | E326

    AI transcript
    0:00:03 Today’s episode of YAP is sponsored in part by Shopify,
    0:00:05 Found and Airbnb.
    0:00:07 Shopify is the global commerce platform
    0:00:09 that helps you grow your business.
    0:00:12 Sign up for a $1 per month trial period
    0:00:14 at Shopify.com/profiting.
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    0:00:21 all in one place and was created for busy entrepreneurs.
    0:00:25 Try Found for free at found.com/profiting.
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    0:00:30 with Airbnb’s new co-host network.
    0:00:34 Find yourself a co-host at Airbnb.com/host.
    0:00:36 As always, you can find all of our incredible deals
    0:00:40 in the show notes or at youngandprofiting.com/deals.
    0:00:44 – Real estate is not that complicated.
    0:00:47 90% of the rental properties in the United States
    0:00:50 are owned by people with one to 10 properties.
    0:00:53 These are just normal people who are doing this.
    0:00:55 And the amazing thing about real estate investing
    0:00:56 is that–
    0:00:58 – Why would you say that real estate investing
    0:01:00 is actually entrepreneurship?
    0:01:04 – Because even if you buy a relatively simple type
    0:01:06 of real estate investment, you gotta do something.
    0:01:07 You have to find tenants.
    0:01:09 You have to run the books.
    0:01:10 You need to be a good property manager,
    0:01:12 provide a quality place to live.
    0:01:15 To me, that’s running a small business.
    0:01:16 – What are some of the tax benefits
    0:01:18 that people can get from real estate?
    0:01:20 – The most common one is just known as–
    0:01:27 (gentle music)
    0:01:37 Yap, gang.
    0:01:40 I was today years old when I learned
    0:01:43 that real estate investing was really just entrepreneurship.
    0:01:45 I learned this from Dave Mayer,
    0:01:47 the guest of today’s episode.
    0:01:50 Dave is a VP of data and analytics at Bigger Pockets,
    0:01:53 the host of the popular On the Market podcast
    0:01:56 and the author of the new book, Start with Strategy.
    0:01:58 Whether you’re a seasoned investor
    0:02:00 or wanna start real estate as a side hustle,
    0:02:03 Dave is going to give us a masterclass
    0:02:06 in real estate investment, economic considerations,
    0:02:07 and an overview of deal types
    0:02:10 so that you can figure out the investment strategy
    0:02:12 that’s right for you.
    0:02:15 Let’s jump right into this amazing conversation
    0:02:18 with Dave Mayer on real estate.
    0:02:20 Dave, welcome to Young and Profiting Podcast.
    0:02:22 – Hola, thanks so much for having me.
    0:02:24 I’m really excited to be here.
    0:02:25 – Yeah, likewise.
    0:02:28 I can’t wait to learn everything about real estate.
    0:02:30 You’re so knowledgeable about the topic.
    0:02:33 And so I wanna start with a big picture question.
    0:02:36 I wanna understand why you feel like real estate
    0:02:40 is a good option to invest in over other assets
    0:02:42 because I’ve heard you say in the past
    0:02:45 that you should get as many real estate assets
    0:02:47 as you can, as young as you can.
    0:02:49 So why do you believe that?
    0:02:51 – Real estate is such a unique asset class
    0:02:54 and I do believe that acquiring assets,
    0:02:56 particularly hard assets like real estate
    0:02:58 when you’re young is super beneficial.
    0:03:00 I’ll just name a couple of the reasons I like.
    0:03:03 First and foremost, I am very entrepreneurship,
    0:03:05 as I know you, entrepreneurial, excuse me,
    0:03:08 as I know you are and a lot of your audiences.
    0:03:09 And I just love the ability
    0:03:12 to control the performance of your investments.
    0:03:14 It’s not something that you’re able to do
    0:03:18 in the stock market or with cryptocurrency or with bonds.
    0:03:20 And to me, that makes it both fun
    0:03:22 and more profitable.
    0:03:25 And then there’s other more sort of technical reasons
    0:03:27 where real estate and hard assets
    0:03:29 tend to keep pace with inflation.
    0:03:31 They appreciate over time.
    0:03:34 And if you know a little bit about the market,
    0:03:36 you know that supply is really constrained
    0:03:37 in the housing market.
    0:03:38 And so there are a lot of tailwinds
    0:03:42 that I think will help increase the value of real estate
    0:03:44 for the foreseeable future.
    0:03:46 – And if you were to pay attention to the headlines,
    0:03:49 you might think that real estate is really like volatile
    0:03:50 and very risky.
    0:03:55 Why is it actually a pretty low risk asset to invest in?
    0:03:57 – I think a lot of millennials, I am one,
    0:04:01 have this sort of housing market trauma
    0:04:03 from the great financial crisis
    0:04:07 because that was a very significant crash.
    0:04:09 But if you look backwards in time,
    0:04:13 it’s really the only crash of that magnitude
    0:04:15 as far back as we have reliable data.
    0:04:18 And so that’s nearly a hundred years.
    0:04:21 We’ve never really seen a market crash like that.
    0:04:23 And if you look at other times
    0:04:27 where housing prices went down like in the early ’90s
    0:04:29 or there were some times in the ’80s,
    0:04:30 it was basically a flattening
    0:04:32 or prices went down by one or 2%.
    0:04:36 And usually prices were covered within six quarters,
    0:04:38 eight quarters, so it’s really quite quick.
    0:04:41 And we can get into why that is.
    0:04:43 But if you often, when people ask me that question,
    0:04:45 I say just Google the median home price
    0:04:47 over time in the United States
    0:04:49 and you’ll see that it’s largely just gone up
    0:04:52 into the right for the last century.
    0:04:53 – That reminds me of stocks.
    0:04:56 It’s kind of like stocks just always go up, right?
    0:04:59 So you’re saying housing prices just always go up,
    0:05:02 so it’s a good long-term investment.
    0:05:04 So talk to us about why real estate is a good way
    0:05:07 to achieve financial independence.
    0:05:09 – Real estate is, in my opinion,
    0:05:14 the best way to earn cash flow from an investment.
    0:05:17 And for that reason, it’s a great way
    0:05:20 and a lot of people use it to replace their income.
    0:05:22 It’s not the only reason to invest in real estate.
    0:05:24 It’s not the only benefit.
    0:05:26 But I think rather stock market,
    0:05:28 if you even get great dividend stocks,
    0:05:31 you’re talking about 2%, 3% bond yields
    0:05:33 or 3% or 4% in terms of cash flow.
    0:05:36 Whereas real estate, even when you buy something
    0:05:38 on the market, you can get something
    0:05:41 at 6%, 8% cash on cash return
    0:05:43 in addition to many of the other benefits
    0:05:47 like tax advantages and appreciation and loan paydown.
    0:05:48 So you get better cash flow.
    0:05:51 And the amazing thing about real estate investing
    0:05:54 is that for the most part, your biggest expense,
    0:05:57 which is your mortgage, will get fixed in place
    0:05:58 ’cause you lock in that price.
    0:06:01 And then your rent, the income that you’re generating
    0:06:02 goes up over time.
    0:06:06 And so if you buy something that has a 6% or 8% cash
    0:06:08 on cash return today, by the time you want to retire,
    0:06:10 say that’s 15 or 20 years from now,
    0:06:14 that could be a 30 or 40 or 50% cash on cash return,
    0:06:16 depending on a lot of decisions you make
    0:06:17 with your business over that time.
    0:06:19 But that’s why it’s so valuable
    0:06:22 as those rents tend to keep pace with inflation
    0:06:25 or at least exceed inflation or sometimes exceed inflation.
    0:06:28 But your expenses are relatively fixed
    0:06:31 and that creates a growing margin over time.
    0:06:32 – So for all the newbies out there,
    0:06:35 what is cash on cash return?
    0:06:37 – So cash on cash return is a simple metric
    0:06:40 that we real estate investors love.
    0:06:42 And you basically just calculate it
    0:06:45 by how much cash flow you generate in a year
    0:06:47 and you divide that by the total amount
    0:06:49 that you have invested in a property.
    0:06:52 So if, for example, you had a rental property
    0:06:55 that made 10 grand in a year after all of your expenses
    0:06:58 and you invested 100 grand into that property,
    0:07:01 you would have a 10% cash on cash return.
    0:07:03 And we just basically use this metric
    0:07:06 to measure one part of the benefits of real estate,
    0:07:08 which is just getting that monthly income
    0:07:10 each and every month.
    0:07:11 – So I know before you mentioned
    0:07:13 that real estate is entrepreneurial.
    0:07:15 And that’s something that I never really thought about.
    0:07:18 When I think of real estate, I think about investing.
    0:07:20 But why would you say that real estate investing
    0:07:22 is actually entrepreneurship?
    0:07:26 – The term real estate investing is somewhat of a misnomer
    0:07:30 because although you are typically taking some
    0:07:33 of your own capital and putting it into this business,
    0:07:35 you really are operating a business,
    0:07:38 even if you buy a relatively simple type
    0:07:41 of real estate investment, like a long-term,
    0:07:42 you just say you buy a single family home
    0:07:44 and rent it out to people.
    0:07:47 It’s not a ton of work, but you got to do something.
    0:07:49 You have to find tenants, you have to run the books,
    0:07:52 you need to be a good property manager,
    0:07:54 provide a quality place to live.
    0:07:57 And so to me, that’s running a small business
    0:08:01 in a way that buying an index fund
    0:08:02 or buying cryptocurrency,
    0:08:04 which are both worthwhile investments
    0:08:07 or worthy of consideration, just aren’t.
    0:08:08 That’s kind of set it and forget it.
    0:08:10 Where real estate, you need to be paying attention
    0:08:15 to your portfolio and decisions and performance,
    0:08:19 not every day, but on a weekly or monthly basis.
    0:08:20 – And you actually started real estate
    0:08:21 sort of as a side hustle.
    0:08:23 You did it on the side of your career.
    0:08:25 So talk to us about how you first got interested
    0:08:27 in real estate and how you got started.
    0:08:31 – I graduated college in 2009.
    0:08:35 And if you remember that, it was a very bad job market.
    0:08:40 And I moved from New York to Denver and was waiting tables.
    0:08:43 And I had a lot of free time on my hands.
    0:08:45 And so I would ski a lot.
    0:08:47 And that’s partially why I moved to Colorado.
    0:08:50 And I had a friend who wound up buying
    0:08:53 a single family home with his girlfriend at the time.
    0:08:55 And they were just killing it.
    0:08:59 And honestly, my friend was not super sophisticated.
    0:09:00 He wasn’t some great investor.
    0:09:03 And I thought if he could do it, I could do it.
    0:09:08 And I used the resource that I had at the time,
    0:09:10 which was time to find a good deal.
    0:09:13 I would drive around Denver and bike around Denver
    0:09:15 and just look for properties.
    0:09:17 I went and looked at a ton of them.
    0:09:20 I sort of taught myself a little bit of financial modeling,
    0:09:22 which I had a little bit of a background in.
    0:09:25 And the numbers just made so much sense to me
    0:09:29 that it felt like I was probably just so naive.
    0:09:31 I didn’t really understand the risk
    0:09:33 or what I was getting myself into.
    0:09:37 But luckily, back then in 2010, which–
    0:09:39 their deals were relatively abundant.
    0:09:43 And so I was able to find something in my spare time
    0:09:45 while I was still working 30 or 40 hours a week.
    0:09:48 And that’s a really common way for people
    0:09:50 to get into real estate.
    0:09:54 And honestly, despite what a lot of social media talks about,
    0:09:56 that is the most common way for people to continue
    0:09:56 in real estate.
    0:09:58 You don’t need to be a full-time investor.
    0:10:02 It is very commonly used to augment your income,
    0:10:05 either from a W-2 job, from another small business,
    0:10:08 or just other investment classes.
    0:10:09 And so talk to us about this first deal.
    0:10:11 You were 23.
    0:10:13 And then you ended up buying, I think,
    0:10:15 was a multi-family home.
    0:10:17 And you raised money to do this.
    0:10:18 You didn’t use your own money.
    0:10:20 So talk to us about this deal.
    0:10:23 I was– I made decent money as a waiter.
    0:10:25 But literally, they paid me in cash.
    0:10:27 And all the money I had at the time
    0:10:29 was in my bedside dresser.
    0:10:31 So I could not qualify for a loan.
    0:10:37 And people look back on 2010 sort of nostalgically right now.
    0:10:39 And real estate’s saying, oh, my god, there was amazing deals.
    0:10:39 And there was.
    0:10:43 But getting loans was really difficult in the aftermath
    0:10:44 of the financial crisis.
    0:10:49 And so I, as a waiter, was not able to qualify for a loan.
    0:10:54 So I brought in three partners, two people I knew,
    0:10:55 and a family member.
    0:10:59 And we each split the down payment on this property
    0:11:00 four ways, equally.
    0:11:04 And the property was a four unit in Denver
    0:11:05 in a great neighborhood.
    0:11:07 And people will be jealous of this.
    0:11:11 But it was $457,000 for four units in Denver,
    0:11:14 which is not possible anymore.
    0:11:16 So that was the basic structure.
    0:11:20 The problem was I did not have my 25% of the down payment.
    0:11:23 And so I wound up taking a secondary loan
    0:11:26 from another one of the partners at a 6% interest rate.
    0:11:29 So I was basically borrowing twice on this.
    0:11:31 And then I self-managed the property.
    0:11:34 And normally, in real estate, the property manager
    0:11:36 gets 8% to 10% of revenue.
    0:11:39 And so I basically took that 8% to 10%
    0:11:40 that I earned as the property manager
    0:11:43 to pay off my secondary loan.
    0:11:46 And did that for seven or eight years
    0:11:49 until I built up enough equity and then we sold the property.
    0:11:52 So it just goes to show you this really is entrepreneurship.
    0:11:54 You’re raising money.
    0:11:56 You’re trying to manage stuff.
    0:11:59 You have a business model going for it.
    0:12:02 So how did your portfolio grow from there?
    0:12:05 And how much time did you spend in real estate?
    0:12:07 For the first couple of years, I didn’t have money.
    0:12:09 So I think for the first four years,
    0:12:12 I just operated that one deal.
    0:12:14 I was actually– I started a different business,
    0:12:15 not in real estate.
    0:12:18 And so I was very involved in a startup
    0:12:21 that I had created in technology and was really
    0:12:22 into that for quite a few years.
    0:12:24 And so it sort of went on the side.
    0:12:28 And I didn’t have money to pay people to do anything.
    0:12:31 So I was still self-managing the property, probably, I don’t know,
    0:12:32 20 or 30 hours a month.
    0:12:35 So it’s still a significant amount of time.
    0:12:39 That’s what I did for a while until 2014.
    0:12:44 I bought a similar type of deal, another multi-unit in Denver,
    0:12:45 and was continuing to self-manage.
    0:12:47 And I lived in that one.
    0:12:49 And this is sort of one of the things
    0:12:54 I love about real estate is it’s so customizable to any circumstance.
    0:12:57 And what I chose to do, because I was looking at a bunch of deals,
    0:13:01 is I chose to buy a property on the same block as my first one,
    0:13:02 because I was running a startup.
    0:13:03 I didn’t have that much time.
    0:13:06 And I thought, hey, if I’m going to manage this business,
    0:13:09 I want to just be able to walk down the street and mow the lawn
    0:13:11 instead of driving all the way across town.
    0:13:14 So then for, I guess, two more years,
    0:13:17 I was just managing these two properties.
    0:13:19 It was seven units it’s time consuming.
    0:13:23 Until 2016, the company had started failed.
    0:13:26 And I was trying to figure out what I wanted to do.
    0:13:29 And I was like, I really kind of like this real estate thing.
    0:13:30 It’s fun.
    0:13:32 And I was getting a master’s degree in data science.
    0:13:36 And so I was just googling real estate data jobs.
    0:13:38 And BiggerPockets, I had never heard of it,
    0:13:40 was about a mile from where I was living.
    0:13:42 And so I went and worked there.
    0:13:47 And from that point, my real estate career sort of took off.
    0:13:48 It had been a hobby.
    0:13:50 And then I got really into it and learned a lot
    0:13:54 from all the other podcast hosts and content creators
    0:13:56 at BiggerPockets and people who have been around that community.
    0:13:59 And so from there, I can talk about it more.
    0:14:01 But my portfolio’s gotten much more sophisticated
    0:14:04 to span many different asset classes, different markets
    0:14:06 across the country.
    0:14:07 That’s such an amazing story.
    0:14:11 And so when it comes to your real estate endeavors,
    0:14:15 did you feel like just getting started with no experience
    0:14:17 was the best route for you?
    0:14:20 Or do you have any regrets in terms of how you got started?
    0:14:23 I think it’s one of those things that is just true of entrepreneurship,
    0:14:27 where you just need to jump in and learn from mistakes.
    0:14:30 And real estate, although it is capital intensive, which
    0:14:34 can be intimidating, it’s a pretty forgiving business.
    0:14:37 It’s not like a tech company where you have to have
    0:14:39 some super amazing go-to-market strategy
    0:14:41 and you need to be unique.
    0:14:43 It’s like you’re just renting out a property.
    0:14:46 In most markets, people want to rent that property.
    0:14:48 And so you can figure that out.
    0:14:50 There is a learning curve.
    0:14:52 I always refer to it as short and steep.
    0:14:54 You need to learn a lot, but it doesn’t take that long.
    0:14:57 And so if you can put yourself in a position
    0:15:00 to spend a couple dozen hours learning about a property
    0:15:01 and then go out and buy something, you’re
    0:15:04 going to be fine, the vast majority of the time
    0:15:05 are going to be just fine.
    0:15:07 And you’ll learn so much in that first deal.
    0:15:09 And there will be hard parts.
    0:15:12 But once you get the first one, the second one, I would say,
    0:15:14 is maybe 20% of the effort.
    0:15:16 And from there, it just keeps diminishing
    0:15:19 in terms of how difficult it is, even as you get more
    0:15:22 sophisticated and take on more difficult projects.
    0:15:24 That makes total sense.
    0:15:26 It makes total sense to kind of just get your feet wet,
    0:15:27 learn as you go.
    0:15:30 I feel like people learn so much better that way.
    0:15:32 So you actually transitioned your career.
    0:15:34 You were really doing real estate.
    0:15:37 And then now you’re educating people on real estate.
    0:15:38 You’re hosting bigger pockets.
    0:15:41 You have books, which will get into your new book
    0:15:42 in a little bit.
    0:15:43 Talk to us about that transition.
    0:15:46 Was that difficult for you as a data guy
    0:15:48 to now be like a public figure?
    0:15:49 Yeah, it’s so weird.
    0:15:51 I never planned for this.
    0:15:53 It just was one of these COVID things
    0:15:56 where I started writing for the Bigger Pockets
    0:15:58 audience about economics, which I’ve always just
    0:16:01 been super interested in, and data,
    0:16:03 and what was going on in the market.
    0:16:05 And it just caught on.
    0:16:07 And I was having a lot of fun.
    0:16:10 And it was hard because just to be perfectly candid,
    0:16:15 I’ve never really felt like I fit in in the real estate
    0:16:16 education space.
    0:16:19 There’s a lot of people in this industry,
    0:16:23 good people who want to scale to hundreds of units
    0:16:27 or thousands of units or to start funds and buy multifamily
    0:16:29 and build a big business and team.
    0:16:31 And that’s never been me.
    0:16:33 Real estate, I find super interesting.
    0:16:35 And I like doing it.
    0:16:37 But I have other professional interests.
    0:16:40 And I like my job at Bigger Pockets.
    0:16:42 Not just because it’s real estate because I just
    0:16:45 like being part of a tech company and a media company.
    0:16:46 And that’s fun for me.
    0:16:48 And so at first, I was trying to figure out
    0:16:50 if I fit in here.
    0:16:53 And I think over time, what I’ve found
    0:16:55 is that the vast majority of the Bigger Pockets audience
    0:16:57 and the people who want to be in real estate
    0:17:02 are like me, have another career or have a family
    0:17:03 and don’t want to do this full time.
    0:17:07 And that’s been really fun and rewarding
    0:17:11 to be amongst people who have a similar perspective
    0:17:14 about this branch of entrepreneurship
    0:17:16 and this part of real estate.
    0:17:18 Because it’s so adaptable as I’ve
    0:17:20 been saying that I’ve made it work for me
    0:17:22 and to support my career.
    0:17:24 And I think that’s what most people want to do.
    0:17:29 And I’m really glad that the way I think about real estate
    0:17:32 and talk about real estate has been resonating with people.
    0:17:34 And so even till this day, you only
    0:17:39 work 20 to 30 hours a month on your real estate portfolio.
    0:17:40 Is that right?
    0:17:44 Yeah, I have a rule for myself to only spend 20 hours a month
    0:17:48 on my real estate portfolio, which sounds really low.
    0:17:52 But I rarely even come close to 20 hours, to be honest.
    0:17:52 Wow.
    0:17:53 That’s amazing.
    0:17:55 I mean, that gives me a lot of confidence.
    0:17:56 Like, hey, I could do this.
    0:18:01 I could start my Airbnb empire or whatever I’m interested in.
    0:18:02 I’ll be honest.
    0:18:05 It takes time to get to that level of passivity.
    0:18:09 At first, like I said, my first deal when
    0:18:12 I was self-managing that, it was taking me probably 10 hours
    0:18:13 a week.
    0:18:15 And then it was five hours a week on that property
    0:18:16 as I got better on it.
    0:18:20 Then over time, I’ve just designed my portfolio
    0:18:22 to suit my lifestyle.
    0:18:27 And I choose deals that are going to be relatively passive.
    0:18:29 And that means that I make trade-offs.
    0:18:30 I don’t flip houses.
    0:18:32 It’s a super profitable, great way to make money.
    0:18:36 I don’t do it because I don’t have the time to do that.
    0:18:39 There are people who buy rental properties
    0:18:41 that do heavy renovations.
    0:18:43 I choose not to do that.
    0:18:45 That means that I make trade-offs.
    0:18:48 And oftentimes, I’m giving up some of my profit
    0:18:52 to property managers or general partners who manage
    0:18:53 my investments for me.
    0:18:54 But that’s my choice.
    0:18:59 And I’ve been able to evolve my real estate portfolio
    0:19:02 with my lifestyle preferences.
    0:19:05 Let’s hold that thought and take a quick break with our sponsors.
    0:19:12 So property management is really interesting.
    0:19:14 So I have a really big company.
    0:19:16 I have money to invest.
    0:19:18 I’m about to get some big distributions and stuff.
    0:19:20 And so in my head, I’m like, well, I’ll just
    0:19:23 get a property manager to help me with these investments
    0:19:27 because I don’t have time to be so hands-on.
    0:19:28 Is that a bad idea?
    0:19:30 Like, should I learn how to do it myself first?
    0:19:33 Or what should I look for in a property manager
    0:19:35 or management company?
    0:19:39 Well, for an average person, I would say all things being equal,
    0:19:42 you should at least manage a property for a couple months
    0:19:46 and just learn what to look for.
    0:19:48 I will say that for you specifically, Hala,
    0:19:50 you are an entrepreneur.
    0:19:54 I’m sure you interviewed many people.
    0:19:56 You understand operations.
    0:19:57 You could hire a property manager.
    0:19:58 It would not be that hard.
    0:20:01 So I think if you have no experience
    0:20:05 in sort of managerial positions or entrepreneurship,
    0:20:07 get your hands dirty a little bit and learn.
    0:20:10 But I think compared to running a large business,
    0:20:13 selecting and overseeing a property manager
    0:20:15 is really quite easy.
    0:20:18 I’ll just say that for most people,
    0:20:19 I have great property managers.
    0:20:22 But not all property managers are great.
    0:20:25 So it’s really worth meeting with a few.
    0:20:28 On BiggerPockets, we have tons of free resources
    0:20:30 to know what questions to ask.
    0:20:31 Go meet them in person.
    0:20:33 It’s worth a trip, even if you’re
    0:20:35 going to invest outside of your local area.
    0:20:37 Those types of things are worthwhile,
    0:20:39 but it’s really not that hard.
    0:20:40 What are they doing?
    0:20:44 Are they taking care of the landscaping, the garbage?
    0:20:46 That’s the type of stuff they’re doing?
    0:20:49 Yeah, so it depends on the type of property
    0:20:50 and the level of service.
    0:20:52 I do full service property management.
    0:20:53 I don’t want to do anything.
    0:20:57 So what they do is they do everything
    0:21:00 from identifying tenants and screening them,
    0:21:04 getting the lease assigned, get handling the turnover.
    0:21:06 So basically, having one tenant move out,
    0:21:08 having a new tenant move in, they also
    0:21:11 serve as the communication for tenants
    0:21:12 when something comes up.
    0:21:15 There’s maintenance requests, repair requests,
    0:21:17 and they also are responsible for maintaining
    0:21:18 the physical structure.
    0:21:23 So that’s a full service person, and that’s great.
    0:21:26 The one thing that I think is very difficult with property
    0:21:30 managers is I always split up the operational part
    0:21:34 of the real estate entrepreneurship game business
    0:21:38 into property management and then asset management.
    0:21:40 The difference to me is property management
    0:21:43 is very day-to-day, all the things I just described.
    0:21:45 The investor, I believe, their job
    0:21:50 is to figure out how to make best use of this asset over time.
    0:21:53 So when do you refinance it?
    0:21:54 At what point do you sell?
    0:21:56 Should you add a new bathroom?
    0:22:00 The property managers, they can advise you on that,
    0:22:05 but they don’t have a view into your entire portfolio,
    0:22:09 into your entire net worth, into your overarching financial plan.
    0:22:12 I still recommend to people that they
    0:22:15 are active in that asset management part of their portfolio,
    0:22:18 whether or not they hire a property manager.
    0:22:20 What do you think about as an investor?
    0:22:23 So for example, I have some friends,
    0:22:28 and maybe I want to give somebody a portion of the deal
    0:22:29 for property management.
    0:22:31 Is that something that happens?
    0:22:33 Yeah, I mean, that’s basically what I did when I was–
    0:22:36 its mind was more complicated, but totally.
    0:22:38 That’s a great way to–
    0:22:40 for both parties, this is another thing–
    0:22:41 sorry, I love real estate.
    0:22:43 So it’s like another thing I love about it.
    0:22:44 I love it too.
    0:22:47 Is that this is a perfect scenario for both people.
    0:22:50 You’re in a position where you have capital to invest,
    0:22:52 but you don’t have time.
    0:22:53 And so you can hire someone.
    0:22:57 You can basically trade your capital for someone else’s time.
    0:23:00 And there are so many people who want to get into real estate,
    0:23:04 who don’t have capital, but have time to manage a business.
    0:23:06 And so that’s why partnerships are extremely
    0:23:08 common in real estate.
    0:23:11 Even the most experienced real estate investors I know,
    0:23:14 I would say partner on the majority of their deals.
    0:23:17 It’s why it’s such a networking relationship business.
    0:23:20 It’s why I think it’s fun, because you make a lot of friends
    0:23:23 and you build a great community around it as well.
    0:23:26 But that is an extremely common way to do it for you.
    0:23:29 And you’re also giving someone else another opportunity
    0:23:31 to sort of cut their teeth in the industry
    0:23:34 and to learn the property management part, which
    0:23:39 does take some practice, but is business most people can learn.
    0:23:41 So let me ask you this, like real life scenario.
    0:23:43 I want to buy a place in Miami.
    0:23:46 I’ve got a friend in Miami who’s got a lot of time
    0:23:49 and who has done Airbnb hosting before.
    0:23:51 So she’s got some experience.
    0:23:53 She doesn’t have money to invest in a place.
    0:23:55 I’ve got money to invest in a place.
    0:23:56 How would you structure that deal?
    0:23:58 Would it be me just paying her?
    0:23:59 Or would you give equity?
    0:24:02 Like, what are the ways that we could structure that?
    0:24:03 It depends on what you want to do.
    0:24:08 So the most common investor property manager relationship
    0:24:12 is about 10% of revenue goes to the property manager.
    0:24:13 That’s kind of a standard rate.
    0:24:15 Of the cash flow from the rent?
    0:24:16 The cash flow.
    0:24:17 So you could do that.
    0:24:20 But if you wanted to do it in terms of equity,
    0:24:22 I would sort of try and approximate
    0:24:24 what that value would be each and every month
    0:24:29 and sort of have the equity essentially vest over time.
    0:24:31 So let’s just use easy numbers.
    0:24:33 Let’s say it would be 10 grand in property management fees.
    0:24:37 And perhaps she can earn a certain amount of equity
    0:24:39 up to a certain point because obviously you
    0:24:43 don’t want to have it eat into your equity over the time.
    0:24:46 A rev share on the cash flow sounds like just a great easy
    0:24:48 plan where everyone’s happy.
    0:24:50 I love that.
    0:24:51 That’s a great thing to do.
    0:24:53 And depending on what your friend wants to do,
    0:24:55 it’s a scalable business.
    0:24:56 For people who are property managers,
    0:24:58 it could be a really good business.
    0:25:01 And speaking as an investor, we need more great property
    0:25:02 managers.
    0:25:04 So people are looking for a business
    0:25:08 to start both in long-term rentals and short-term rentals.
    0:25:10 It can be a really profitable business.
    0:25:11 Yeah.
    0:25:14 So you’ve got this new book, Start with Strategy.
    0:25:15 Why did you put this book out?
    0:25:16 Who is it for?
    0:25:20 I wrote this book because I get a lot of the same questions
    0:25:22 about real estate, things like that
    0:25:26 are make the decisions about real estate investing
    0:25:29 in your portfolio seem somewhat objective.
    0:25:32 Where the reality is that real estate decisions are entirely
    0:25:33 subjective.
    0:25:35 What’s right for one investor is going
    0:25:37 to be totally different from what’s
    0:25:39 right for another investor.
    0:25:42 And I wanted to create a framework
    0:25:46 to help people think through all of those many questions,
    0:25:48 like some of the questions you’ve asked me today,
    0:25:51 Hala, like how much time should I put into this?
    0:25:53 Should I– another common one I get
    0:25:56 is should I flip houses or should I buy long-term rentals?
    0:25:58 Should I get into multifamily?
    0:25:59 Should I be passive?
    0:26:00 Should I be active?
    0:26:01 All great questions.
    0:26:04 And without a framework, I think for people,
    0:26:07 it can be overwhelming, the amount of decisions
    0:26:08 that you need to make.
    0:26:10 When in reality, it’s like 10 decisions.
    0:26:12 I tried to create a framework that
    0:26:15 explains each of those decision points
    0:26:18 and help people essentially create a business plan
    0:26:19 for real estate investing.
    0:26:23 And it starts like a lot of business plans with a vision,
    0:26:26 what you want to accomplish, then goes into the right types
    0:26:29 of real estate deals that you can match to your vision
    0:26:32 and then goes into explaining the optimization
    0:26:34 of your portfolio over time.
    0:26:36 I loved reading this book.
    0:26:38 I can’t wait to pick your brain, especially
    0:26:39 on these deal types.
    0:26:41 But before we get into that, I want
    0:26:45 to talk about the economics and the economic factors related
    0:26:46 to buying a house.
    0:26:48 So whenever I want to buy a property,
    0:26:52 I’ve been toying with buying a property for years now.
    0:26:55 I always get advice from people that are like, don’t buy.
    0:26:56 Market’s about to crash.
    0:26:57 Don’t buy.
    0:26:58 Interest rates are too high.
    0:27:00 Don’t buy here, buy there.
    0:27:02 I always get told, don’t buy, don’t buy.
    0:27:03 It’s not the time to buy.
    0:27:05 And it’s frustrating to me.
    0:27:08 How many years have they been asked telling you not to buy?
    0:27:10 Like five years, at least.
    0:27:12 Yeah, you should have bought.
    0:27:13 I know.
    0:27:16 So talk to us about are there actually
    0:27:19 economic considerations to make or indicators
    0:27:20 that we should be looking at?
    0:27:23 Or is it just always the right time to buy?
    0:27:24 I’m biased.
    0:27:26 I don’t think I could say that it’s always
    0:27:27 the right time to buy.
    0:27:31 But I do think the old adage is true,
    0:27:35 that time in the market is more important than timing
    0:27:35 the market.
    0:27:38 It’s extremely difficult to time the market.
    0:27:42 And my advice to people is think about your time horizon.
    0:27:45 If you are trying to make an investment for a year or two
    0:27:48 or even three, real estate’s probably not right for you.
    0:27:49 It’s a long-term game.
    0:27:51 But if you give real estate time,
    0:27:56 it is extremely low risk relative to other asset classes.
    0:27:59 And I want to be clear, real estate is not risk-free.
    0:28:01 There is no such thing as a risk-free investment.
    0:28:04 But when you think, and again, going back to your early question,
    0:28:06 like there’s just not a lot of volatility.
    0:28:10 And so if you own property for five, six, seven years,
    0:28:13 the chance of losing money on it is extremely low.
    0:28:16 I think that’s a major variable.
    0:28:20 There are markets right now that are experiencing what I would
    0:28:24 say is like a correction, like a 1% or 2% decline in prices.
    0:28:27 As an experienced investor, I view that as an opportunity,
    0:28:30 not as a risk, because it means you can buy assets for lower
    0:28:31 than what they will be in the future.
    0:28:33 But I understand that people who are new to this,
    0:28:35 that seems a little bit daunting.
    0:28:39 But again, I would first advise people
    0:28:43 to think about the ways that you generate income from real estate
    0:28:47 because the value of the home is not the only.
    0:28:49 And it’s not even necessarily the main way you make money.
    0:28:52 So you get cash flow, which is one of them.
    0:28:56 You do get the appreciation from property value going up.
    0:28:58 But there’s two different types of appreciation.
    0:29:00 One is what the market does.
    0:29:02 The other is we call it forcing appreciation
    0:29:05 by renovating or improving the value of the property.
    0:29:08 When you take out a loan, you pay that back with your tenants’
    0:29:09 income over time.
    0:29:11 And so that provides you a really nice floor
    0:29:14 for your investment that usually outpaces inflation
    0:29:15 all by itself.
    0:29:17 And then you have wonderful tax advantages
    0:29:18 as a real estate investor.
    0:29:21 And so when you combine all those things,
    0:29:23 even when the housing market is flat,
    0:29:27 you usually do at least as well as an index fund, if not better.
    0:29:30 That’s sort of how I help people understand it.
    0:29:31 Of course, if you are worried that there’s
    0:29:33 going to be a market crash, I understand
    0:29:35 why you wouldn’t want to buy.
    0:29:37 I have not bought–
    0:29:38 I study economics.
    0:29:40 And for the last– in this cycle,
    0:29:43 I have not seen a point where it looks like the market is
    0:29:44 going to crash.
    0:29:46 And I still think that.
    0:29:48 Of course, there are a lot of opportunities
    0:29:50 for black swan events, things that you can’t see.
    0:29:53 But if you look at your real estate market and data
    0:29:55 right now, and I’m happy to explain this more,
    0:29:58 it just doesn’t look like prices are
    0:30:01 going to decline significantly on a national level.
    0:30:04 And even in the markets where they do decline a little bit,
    0:30:06 it will probably be pretty modest.
    0:30:10 So you were just mentioning these tax benefits.
    0:30:11 What are some of the tax benefits
    0:30:13 that people can get from real estate?
    0:30:16 The most common one is just known as depreciation,
    0:30:20 which is basically the value of your property goes down
    0:30:22 in the eyes of the government every year
    0:30:24 because it wear and tear, basically.
    0:30:29 And you can use that as a tax deduction in year.
    0:30:31 It’s this whole silly formula.
    0:30:34 It’s basically you take the value of your property,
    0:30:38 you divide it by the useful life, which is 27 and 1/2 years,
    0:30:41 and you can offset your income by that amount.
    0:30:43 And so what winds up happening for a lot of real estate
    0:30:46 investors is all of the cash flow
    0:30:49 that you generate in a given year is tax-free.
    0:30:51 I think true every single year for me
    0:30:55 is that you get this cash flow and you don’t pay taxes on it.
    0:30:58 So that’s really beneficial.
    0:31:01 What about when you’re renovating or paying
    0:31:03 for a property manager is all of that kind of stuff
    0:31:06 expensed because it’s a business expense?
    0:31:08 Yeah, so all of that is expensed.
    0:31:11 And what I’m saying is the cash flow, your profit,
    0:31:15 after all of your expenses is also typically tax-free.
    0:31:18 Now, you do have to, quote unquote, recapture that money
    0:31:20 when you go and sell the property,
    0:31:24 but it is really beneficial if you are using real estate
    0:31:28 to live off of or you just want to generate some capital
    0:31:30 to reinvest elsewhere.
    0:31:32 Some of the other benefits– and there
    0:31:34 are a lot of real estate tax benefits,
    0:31:36 but some of the more popular ones are something
    0:31:39 called a 1031 exchange, which is basically
    0:31:43 if you own a property and you want to sell it
    0:31:45 and reinvest it in a like property.
    0:31:47 So basically, say you buy a duplex,
    0:31:49 you want to sell it and buy a new duplex.
    0:31:51 If you meet these criteria is basically
    0:31:53 buying within a certain amount of time,
    0:31:57 the gains on your first property are deferred.
    0:32:00 And so this is super beneficial and very different
    0:32:02 from other asset classes.
    0:32:05 If you, for example, wanted to sell stocks
    0:32:07 and then reinvest it into the housing market,
    0:32:09 you would pay capital gains on the stock
    0:32:10 and then reinvest it.
    0:32:12 In real estate, you can make that trade
    0:32:14 without paying taxes, which allows
    0:32:17 you to keep more principal in your portfolio
    0:32:18 that generates more income.
    0:32:20 I’ll just mention another one for people
    0:32:24 who are looking to just buy their primary residence.
    0:32:28 If you live in a property for two out of the last five years
    0:32:31 when you sell that property, those gains are also tax-free.
    0:32:35 And then the most popular one, which is mortgage interest,
    0:32:36 is tax deductible.
    0:32:38 So there’s a ton of different ways
    0:32:42 that real estate is advantaged in the tax code.
    0:32:45 All perfectly legal, encouraged by the government.
    0:32:48 And so it’s just one of those additional benefits.
    0:32:51 Wow, it makes me feel really stupid for not investing
    0:32:53 in real estate yet.
    0:32:55 It can be really–
    0:32:58 especially, I think, for a lot of high-net-worth individuals,
    0:33:00 as you sort of grow your wealth,
    0:33:04 real estate becomes not just an investment vehicle for growth,
    0:33:08 which it is, but it’s also just a very tax-efficient asset
    0:33:12 class and a good way to balance your overall portfolio.
    0:33:15 So you mentioned that your first property was in Denver,
    0:33:18 and you doubled the amount.
    0:33:21 You sold it for double what you paid for.
    0:33:24 What other hot cities should we be looking at in America
    0:33:25 right now?
    0:33:29 So a lot of this comes down to what your strategy is.
    0:33:33 If you’re looking for appreciation and building equity
    0:33:35 and the value of your property going up,
    0:33:38 it will be different than if you’re targeting cash flow.
    0:33:41 This is a big debate in the real estate investing world.
    0:33:46 But I would say that trying to find properties that appreciate
    0:33:48 is a little bit riskier, because no one knows.
    0:33:52 This is macroeconomic conditions that you don’t really control,
    0:33:55 but it is a really powerful way to build wealth.
    0:33:58 And so these are markets where, in short, you’re just
    0:34:01 looking for markets where demand outpaces supply.
    0:34:02 And so these are places–
    0:34:06 Miami has been a really hot one over the last few years,
    0:34:09 and generally, the Southeast has been very, very popular.
    0:34:13 So places like Texas, Tennessee, North Carolina,
    0:34:16 even parts of Alabama, South Carolina, Virginia–
    0:34:19 those have been really popular over the last few years.
    0:34:22 In 2024, it’s actually slowed down in the Southeast.
    0:34:25 And we’re seeing a very unusual pattern where, actually,
    0:34:27 the Midwest and the Northeast are
    0:34:29 seeing the hottest appreciation.
    0:34:32 And I think that offers a real unique opportunity,
    0:34:34 because the Midwest, in particular,
    0:34:36 is where you find good cash flow.
    0:34:40 And so this is a great time, in my opinion,
    0:34:41 to buy in the Midwest, because there’s
    0:34:44 this great opportunity to get cash flow,
    0:34:46 to make money every month, but also
    0:34:48 see the value of your property go up,
    0:34:50 in addition to those other benefits.
    0:34:54 And so I think the Midwest is quite popular right now.
    0:34:57 So when it comes to investing in real estate,
    0:34:59 I feel like it’s a little bit more overwhelming.
    0:35:01 So for example, I’ve been investing in stocks
    0:35:03 since I was 20 years old.
    0:35:08 And I’ll not even bat an eyelash, transfer $20,000, $50,000
    0:35:10 to my account, and not care.
    0:35:12 But then when it comes to real estate,
    0:35:14 it feels like overwhelming.
    0:35:16 It feels like there’s so much to learn.
    0:35:20 So for other people out there that are feeling like I am,
    0:35:22 where should they start learning?
    0:35:24 What’s the best place to start?
    0:35:27 So of course, at Bigger Pockets is basically what we do.
    0:35:30 Our whole goal is to help people learn how
    0:35:31 to invest in real estate.
    0:35:33 And a lot of our–
    0:35:35 almost all of our education is entirely free.
    0:35:38 So if you want to learn just the basics,
    0:35:40 I highly recommend you do that.
    0:35:42 And I’ll take the opportunity to pitch my book,
    0:35:46 because I basically wrote it to help people understand
    0:35:49 where they fit in the real estate investing ecosystem.
    0:35:52 Because there are so many different options out there.
    0:35:55 And picking short-term rentals, multi-families,
    0:35:58 self-storage units, there’s all these different things.
    0:36:01 But once you identify what you’re going for,
    0:36:03 and why you’re investing in real estate,
    0:36:05 you can really narrow it down to a couple.
    0:36:07 So I’d recommend reading a couple books.
    0:36:10 We have many on Bigger Pockets.
    0:36:11 And then listening to our podcast,
    0:36:13 we have two that I would recommend.
    0:36:16 One is the Bigger Pockets Real Estate Podcast, which I host.
    0:36:20 We talk about relatable stories to help people identify, learn.
    0:36:23 Also one called Real Estate Rookie,
    0:36:24 which is specifically for new people
    0:36:27 to help them get up and running.
    0:36:29 And I know in real estate,
    0:36:33 it’s sort of become like a pretty spammy place
    0:36:35 and scammy place.
    0:36:38 And I just feel like there’s a lot of get-rich-quick schemes
    0:36:42 and a lot of conferences that seem really shady.
    0:36:44 And I just want to get your opinion on that.
    0:36:46 Should people engage in that type of stuff
    0:36:48 or run away from it?
    0:36:49 – Run away from it.
    0:36:51 I’ll just be honest.
    0:36:54 Real estate is not that complicated.
    0:36:59 And I think a lot of people who want to profit off new investors
    0:37:01 try to make it seem really complicated
    0:37:02 so that they can sell you some course
    0:37:05 or some system or some strategy.
    0:37:07 This is not rocket science.
    0:37:10 This is a business that tens of thousands,
    0:37:12 literally millions of people have done before you
    0:37:15 and it’s normal mom and pop investors.
    0:37:19 90% of the rental properties in the United States
    0:37:22 are owned by people with one to 10 properties.
    0:37:24 So these are just normal people who are doing this
    0:37:25 every single day.
    0:37:29 And honestly, I’m not special if I could do this.
    0:37:30 Anyone can do it.
    0:37:34 And I really encourage people to just try and learn for free.
    0:37:36 We do this all in bigger pockets.
    0:37:38 The other thing I highly recommend
    0:37:40 is in almost every big city in the US,
    0:37:41 there’s something called RIAs,
    0:37:44 the Real Estate Investing Groups.
    0:37:45 And they have meetups.
    0:37:47 They’re just like at a bar or at a coffee shop
    0:37:49 once or twice a month.
    0:37:50 Go and just talk to local investors.
    0:37:54 It’s totally free and you will find the answers
    0:37:57 that you need for free rather than paying someone.
    0:38:00 Honestly, it’s exorbitant amount of money.
    0:38:03 Sometimes like a cheap course could be five grand,
    0:38:04 some of them are 20 grand.
    0:38:07 And I’ve never really met someone who said it’s worth it.
    0:38:11 We’ll be right back after a quick break from our sponsors.
    0:38:18 So let’s talk about these deal types.
    0:38:21 You’ve alluded to them throughout the whole interview.
    0:38:25 I thought we could do a fun, quick, fire style segment
    0:38:28 where I’ll read a deal type out to you
    0:38:30 and then you tell me the pros and the cons,
    0:38:34 the time commitment, the considerations for each deal type.
    0:38:35 Does that sound good?
    0:38:36 Let’s do it.
    0:38:39 Okay, rental properties.
    0:38:40 Rental properties, bread and butter.
    0:38:43 It’s like an index fund for real estate investing.
    0:38:47 It’s very low risk but has a good upside to it.
    0:38:50 The amount of time required is not a lot
    0:38:55 and I think it’s accessible to almost any type of investor.
    0:38:57 Short-term rental.
    0:39:01 Short-term rentals are sort of like a growth stock.
    0:39:04 They’re kind of a little bit exciting
    0:39:06 and they have better cash flow potential
    0:39:08 than long-term rentals.
    0:39:11 But they can be a little bit risky in today’s market.
    0:39:14 There’s a lot of supply of short-term rentals right now
    0:39:17 and so you have to be really good at operating your business
    0:39:19 and standing out from the crowd.
    0:39:22 But if you’re good at it, it’s more lucrative
    0:39:26 than long-term rentals and honestly, I only own one
    0:39:29 but I kind of think it’s fun to own short-term rentals
    0:39:32 and sort of be in the hospitality business.
    0:39:33 But I will say one other thing I’ll say
    0:39:35 is it’s a little bit more capital intensive
    0:39:37 because I learned this the hard way.
    0:39:40 Furnishing them can be very expensive
    0:39:43 so you need to make sure that you have a proper amount
    0:39:47 of money set aside to make the place really nice
    0:39:48 and stand out because again,
    0:39:50 there’s so many competitors right now
    0:39:54 that if you just do the Facebook marketplace kind of thing
    0:39:55 where you’re just getting cheap furniture,
    0:39:58 it’s probably not gonna work.
    0:39:58 That’s so interesting.
    0:40:00 So long-term rentals, you don’t have to worry
    0:40:03 about furniture, people just renting them out
    0:40:04 for like a year at a time.
    0:40:08 Short-term rentals is like your Airbnb, your Verbo.
    0:40:11 Is that subletting too or no, that’s different?
    0:40:12 I don’t recommend people do that.
    0:40:15 It’s kind of legally questionable in a lot of places
    0:40:18 and can be, some places it’s perfectly legal,
    0:40:21 but I don’t think that’s investing in my mind.
    0:40:23 I think it’s like an arbitrage game.
    0:40:25 Yeah, it’s kind of like a job
    0:40:27 and there’s nothing wrong with that if that’s what you want.
    0:40:29 But if you wanna like build a business,
    0:40:32 I think you need to actually put some capital in.
    0:40:34 – Okay, fix and flip.
    0:40:37 – Fix and flip is a great way to make money
    0:40:39 but it’s basically a job.
    0:40:40 I think people need to think
    0:40:43 about how much time they want to commit to it
    0:40:46 because it can be 20 hours a week,
    0:40:47 it can be 30 hours a week.
    0:40:49 It’s a steep learning curve.
    0:40:51 Renovating properties can be very difficult.
    0:40:53 You don’t really know what you’re going to get
    0:40:55 with any particular property.
    0:40:58 Working with contractors is much harder
    0:41:00 than working with property managers.
    0:41:01 I said earlier that if you have
    0:41:03 some basic managerial experience,
    0:41:05 you can manage a property manager.
    0:41:07 Working with contractors kind of its own business,
    0:41:08 its own game.
    0:41:10 And so I sort of recommend
    0:41:12 to people sort of progressing to that.
    0:41:13 Maybe buy a rental property
    0:41:16 and do a small renovation and learn that way
    0:41:19 and sort of build up to doing an entire house flip.
    0:41:22 I just signed up to do my first one ever.
    0:41:24 I’m 15 years into it and I’m not managing it.
    0:41:26 I’m just investing in it.
    0:41:28 But if you really love real estate
    0:41:31 and like you find it fun like I and a lot of people do,
    0:41:36 it could be a great avenue to building active income
    0:41:38 in addition to sort of building long-term rentals
    0:41:41 to sort of set you up over the long term.
    0:41:44 – That also sounds like a great like partnership idea, right?
    0:41:45 One person being the investor,
    0:41:47 one person being the designer,
    0:41:49 somebody who has contract or experience
    0:41:51 or something like that.
    0:41:52 – Yeah, so I’ll just tell you,
    0:41:54 I basically, with this deal,
    0:41:57 my friend, a partner, found the deal.
    0:41:59 He’s got a construction company, a designer.
    0:42:00 He’s also an agent.
    0:42:01 So he can do all of it.
    0:42:04 I put in 100% of the capital
    0:42:06 and we’re gonna split the profit 50/50.
    0:42:08 So basically, I’m taking the risk,
    0:42:09 but he’s doing all the work
    0:42:11 and hopefully it’s gonna work out
    0:42:13 and we’ll both make some good money off of it.
    0:42:16 – It’s a business, it’s entrepreneurship like he said.
    0:42:17 – Exactly.
    0:42:20 And trying can be structured however you want.
    0:42:22 – Commercial real estate.
    0:42:23 – I’m a big fan of commercial real estate
    0:42:26 because it’s a lot more dollars and cents
    0:42:28 for someone like me who’s very analytical.
    0:42:31 It’s a more efficient market.
    0:42:34 And what I mean by that is real estate,
    0:42:38 80% roughly of residential properties that get sold
    0:42:39 are bought by home buyers.
    0:42:41 There’s nothing wrong with this,
    0:42:43 but they buy largely based off emotion.
    0:42:44 And so as an investor,
    0:42:48 you’re kind of contending with these less known quantities.
    0:42:51 And it’s a little bit confusing sometimes.
    0:42:52 Commercial real estate is just dollars and cents.
    0:42:53 And it’s a little, you know,
    0:42:55 it’s more sophisticated players.
    0:42:57 And I think that that can be great.
    0:42:59 I will say, just so everyone knows,
    0:43:01 commercial real estate’s in a bit of a,
    0:43:03 you know, when I said the market’s not crashing,
    0:43:04 I was talking about residential.
    0:43:06 Commercial real estate has crashed.
    0:43:08 Like it’s not as in the media,
    0:43:12 but prices are down 10, 15, 20% over the last couple of years.
    0:43:13 I don’t know if it’s bottomed yet,
    0:43:15 but I feel like we’re kind of getting close.
    0:43:17 And so I actually think there’s going to be great
    0:43:18 buying opportunities,
    0:43:20 but commercial real estate is like I said,
    0:43:22 it’s more sophisticated.
    0:43:23 The loans are more complicated.
    0:43:27 Do not just jump into that without really educating yourself.
    0:43:30 Highly recommend finding a partner if you want to do that
    0:43:33 or starting super small with like six unit or an eight unit.
    0:43:37 Do not just like jump to 20 units, 30 units.
    0:43:41 That’s where I actually see people take on too much risk
    0:43:42 and potentially fail in real estate
    0:43:45 is trying to get really big really quickly.
    0:43:47 – Yeah. And it makes sense because right now
    0:43:49 everybody’s working from home
    0:43:51 and everyone’s buying stuff online.
    0:43:54 So the need for commercial real estate
    0:43:55 is becoming less and less.
    0:43:58 So is that another reason why it’s so risky?
    0:43:59 – Commercial real estate,
    0:44:00 I think there’s actually like something
    0:44:03 like 16 different subcategories
    0:44:07 and it depends what office real estate is getting hammered.
    0:44:10 And it’s even a lot of cities you’re seeing it down 50%.
    0:44:14 So there’s massive crash in terms of valuation.
    0:44:17 Retail is doing great.
    0:44:20 So it’s like kind of depends where you are
    0:44:21 and the market you’re in,
    0:44:24 which is why another reason it sort of just makes it
    0:44:27 more challenging is that there’s a lot of nuances
    0:44:30 to understand with single family homes.
    0:44:31 It’s kind of easy to understand like,
    0:44:34 Hey, this is a growing city, properties are going to go up.
    0:44:37 Whereas there’s a lot of nuance
    0:44:39 to the macroeconomic conditions
    0:44:42 that influence commercial real estate.
    0:44:44 So it’s a little more challenging.
    0:44:46 – Okay, last one, development lending.
    0:44:47 And what is this?
    0:44:49 Cause I feel like this is one that I never heard of.
    0:44:50 – So there are actually two.
    0:44:53 So development is building stuff ground up.
    0:44:55 I actually think it’s great.
    0:44:57 It’s super risky, but it’s how you make a ton of money,
    0:44:59 especially if you can find great land.
    0:45:03 I’ve bought a few properties where I hope to tear it down.
    0:45:05 And, you know, these are literally 100 year old houses
    0:45:06 that are in fine shape,
    0:45:08 but like one day I’m hoping to redevelop
    0:45:11 and you can make great money there.
    0:45:12 I want to talk about lending
    0:45:14 cause I actually think it’s a great business.
    0:45:17 So we talk about real estate and entrepreneurship
    0:45:19 as buying properties,
    0:45:21 but there’s a whole other side of real estate,
    0:45:24 which is creating mortgages and hard money loans,
    0:45:26 which is rent bridge loans,
    0:45:29 which are loans to either fix and flippers or developers
    0:45:32 that are at pretty high interest rates, you know, 10, 12, 15%.
    0:45:35 And so if you learn the business
    0:45:37 and you want to generate cash flow,
    0:45:39 it is quite easy to not easy,
    0:45:44 but it is very common to generate 10, 12% cash on cash return
    0:45:47 for doing almost no work.
    0:45:48 It’s extremely passive.
    0:45:50 And so if you can imagine,
    0:45:52 this is common for people sort of later
    0:45:53 in their investing career.
    0:45:54 So if you have a high net worth
    0:45:57 and say you want to invest $500,000,
    0:45:58 you’re getting a 12% return.
    0:46:02 That’s 60 grand a year in passive income
    0:46:03 for doing very little.
    0:46:05 I don’t know another industry where you can do that
    0:46:07 with as low risk.
    0:46:08 I’m saying low risk,
    0:46:11 presuming that you learn how to do it properly.
    0:46:12 But if you do lending properly,
    0:46:15 it is relatively low risk.
    0:46:16 – So in terms of lending,
    0:46:19 is that basically real estate investors
    0:46:22 are like pitching you to lend them money?
    0:46:25 Or are you saying to like open up like a mortgage firm?
    0:46:27 Like, sorry, this is a dumb question.
    0:46:28 – That’s a great question.
    0:46:30 There’s different ways to do it.
    0:46:33 So the easiest, the least intensive way
    0:46:34 is something called buying notes.
    0:46:37 So people issue mortgages
    0:46:39 and you can actually just buy those mortgages
    0:46:40 from other people.
    0:46:42 Those are just traded.
    0:46:43 So that’s an easy way to do it.
    0:46:44 I think the most profitable
    0:46:47 and most common way that people like myself get into it
    0:46:50 is something called hard money lending,
    0:46:51 which is a lot of house flippers.
    0:46:52 They’ll buy a property,
    0:46:54 but they don’t have the money for the rehab
    0:46:57 or they may even have money for the acquisition.
    0:47:01 And they are willing to usually pay 10 or 12 or 15%.
    0:47:03 ‘Cause their whole business is to renovate that thing
    0:47:05 as quickly as possible and then sell it off.
    0:47:07 And so unlike a mortgage,
    0:47:09 no one in their right mind at this day and age
    0:47:12 would pay 12 to 15% on a 30-year mortgage.
    0:47:13 But if you’re holding it for six months,
    0:47:15 you’re willing to pay that interest.
    0:47:19 And so people like myself will lend money to those people.
    0:47:22 And the interesting thing about it
    0:47:24 is it’s a collateralized loan.
    0:47:28 And so if the borrower defaults, you get the house.
    0:47:31 And usually they put 20% down.
    0:47:33 And so even if they default,
    0:47:36 you’re getting the property at 20% off.
    0:47:39 You keep the equity and you get the house.
    0:47:41 That happens very, very rarely if you do it well,
    0:47:44 but it does limit your risk
    0:47:46 because it is backed by a hard asset.
    0:47:48 That is a common way people do it.
    0:47:51 Or you could really get sophisticated and like set up,
    0:47:52 but you know, bank essentially.
    0:47:55 But I think most people do it sort of in that middle tier
    0:47:57 that I was describing.
    0:48:00 – And the reason is because banks wouldn’t give a loan
    0:48:02 to somebody to do that.
    0:48:02 – That’s right.
    0:48:06 And so banks, like the way banks issue mortgages is
    0:48:09 for them, they wanna do what’s commonly called
    0:48:12 a conforming loan, which is basically they want it
    0:48:14 as cookie cutter as possible
    0:48:16 because the government has set these rules
    0:48:19 that if you meet these XYZ criteria,
    0:48:23 you can sell the loan to Fannie Mae or Freddie Mac
    0:48:25 and offload that on your books, right?
    0:48:28 ‘Cause banks, they wanna give out money
    0:48:30 and then they wanna take their origination fees,
    0:48:31 collect a little bit of interest and then sell it
    0:48:32 and then make another loan.
    0:48:34 And so that’s sort of their business.
    0:48:37 And to fit in that box of conforming loans,
    0:48:39 they can’t be fixing up properties.
    0:48:41 They have to be in pretty good condition
    0:48:43 and relatively low risk for the government.
    0:48:45 And so these types of fix and flip properties
    0:48:49 that need a new roof, that need a gut rehab,
    0:48:50 that need a new foundation.
    0:48:52 Banks, unless they’re a specialized bank,
    0:48:53 are not gonna do that.
    0:48:56 Like you can’t go to Chase or to Wells Fargo
    0:48:57 and get that loan.
    0:49:00 And so they usually go to private money.
    0:49:02 The other reason they do it is for speed
    0:49:06 because a lot of times when you’re a fix and flip,
    0:49:08 you’re dealing with off market properties
    0:49:10 for sale by owner and you don’t have time
    0:49:12 to spend 30 to 60 days closing a loan.
    0:49:14 And usually a hard money lender
    0:49:16 will be able to deliver you cash in two weeks.
    0:49:20 And so it’s just a little bit more efficient.
    0:49:24 – Wow, this was like seriously a masterclass on real estate.
    0:49:29 My last question to you is these new trends like Fundrise
    0:49:32 where you can basically invest online
    0:49:34 in a really passive way.
    0:49:35 What are your thoughts about that?
    0:49:37 Is that a good way to get started?
    0:49:38 Or how do you feel about it?
    0:49:41 – I haven’t invested in Fundrise myself
    0:49:43 but I was actually looking at it like three days ago.
    0:49:44 No joke.
    0:49:46 ‘Cause I know their CEO, Ben Miller is a great guy.
    0:49:47 Super smart.
    0:49:49 So I would trust him pretty well.
    0:49:50 Do your due diligence.
    0:49:52 That’s just my read on it.
    0:49:56 I think it’s a great idea because you can buy REITs
    0:49:59 which are just publicly traded real estate investment trusts
    0:50:02 which are great and they can be really efficient
    0:50:04 but private real estate, the money is a lot better.
    0:50:08 And so what people in the industry do
    0:50:10 is they invest in funds and syndications.
    0:50:13 These are basically ways of pooling your money together
    0:50:15 to buy large commercial assets.
    0:50:18 But you have to be an accredited investor to do that.
    0:50:20 And it’s kind of an insider’s game.
    0:50:22 Like there’s no public place
    0:50:23 where you can go look up these people.
    0:50:25 You kind of just have to know people.
    0:50:27 What Fundrise and their competitors are doing
    0:50:30 is trying to give you that benefit
    0:50:32 without being accredited
    0:50:34 and without being an industry insider.
    0:50:36 So I don’t want to endorse any specific one
    0:50:38 because I don’t know their investment criteria.
    0:50:40 I will say everything I’ve heard about Fundrise
    0:50:42 is extremely positive.
    0:50:44 I think the concept is a really good idea
    0:50:48 and will bring just people who are new to real estate
    0:50:51 access to a type of asset within real estate
    0:50:53 that was previously not available.
    0:50:56 Yeah, so basically like the law changed
    0:50:57 because of these apps
    0:50:59 where now anybody can invest in this one before
    0:51:03 it was only a certain type of investor that could.
    0:51:05 And they’re typically really like lucrative deals, right?
    0:51:08 Yeah, so you can basically get access
    0:51:09 to all sorts of stuff.
    0:51:11 I know Fundrise does built to rent,
    0:51:13 which is a really interesting asset.
    0:51:15 Multifamily, they do lending funds.
    0:51:17 So if you’re interested in the type of lending
    0:51:19 I was just talking about and don’t know how to do it,
    0:51:21 you can invest with them.
    0:51:22 They do the due diligence for you.
    0:51:24 You’re not going to make 12%.
    0:51:26 I’m sure they charge a fee for that,
    0:51:28 but you still get a really good return
    0:51:28 on that sort of thing.
    0:51:31 So I think it’s great that they’re doing that
    0:51:34 because otherwise it’s almost, it takes years.
    0:51:36 Like it took me probably 10 years into investing
    0:51:38 to like get into that world.
    0:51:41 And I think that’s probably a pretty common timeline.
    0:51:43 So if you’re interested in that
    0:51:46 and don’t have the industry knowledge,
    0:51:48 it’s a great way to think about
    0:51:50 or it’s something to think about.
    0:51:51 Well, I love that.
    0:51:55 And before we go, I asked two questions to all my guests.
    0:51:58 Now you can answer these however you’d like.
    0:52:00 It doesn’t have to be about today’s topic.
    0:52:01 You can let it come from the heart.
    0:52:03 You’re speaking to entrepreneurs out there.
    0:52:06 So what is one actionable thing
    0:52:08 our young and profitors can do today
    0:52:10 to become more profitable tomorrow?
    0:52:15 – My biggest advice to people is to just understand
    0:52:18 why you want to get into entrepreneurship
    0:52:21 and to think really hard about the things that motivate you.
    0:52:23 When I first started in entrepreneurship,
    0:52:27 I just kind of wanted the vague notion of success.
    0:52:31 And it led me astray and that business ultimately failed.
    0:52:32 And I think with real estate, I’ve been successful
    0:52:34 because I figured out the exact sort of lifestyle
    0:52:37 that I wanted, the exact amount and type of money
    0:52:41 that I wanted to make, the kind of leader I wanted to be.
    0:52:43 And that made becoming successful
    0:52:46 actually quite easy when you actually have specific goals
    0:52:47 that you’re shooting for,
    0:52:50 not just some like vague notion of growth.
    0:52:51 – Really, really good.
    0:52:53 And what would you say your secret
    0:52:56 to profiting in life is?
    0:53:00 – I honestly, I think that it’s hard to,
    0:53:02 people in entrepreneurship,
    0:53:05 it’s really easy to buy into your own business
    0:53:06 and your own ideas.
    0:53:09 And just recognizing that things can go wrong
    0:53:12 and they will go wrong and to be prepared for that.
    0:53:14 And when you prepare, I find that, you know,
    0:53:16 if you prepare for those things
    0:53:18 and you’re humble about your own skill set
    0:53:19 and your own business,
    0:53:21 that you wind up avoiding a lot of the pitfalls
    0:53:25 because you’re thinking about them well ahead of time.
    0:53:26 – That’s really smart.
    0:53:28 Dave, thank you so much for everything
    0:53:28 that you shared today.
    0:53:31 I feel like we got such great learnings,
    0:53:34 knowledge bombs from you on real estate.
    0:53:35 Where can everybody learn more about you
    0:53:37 and everything that you do?
    0:53:40 – Yeah, come find me at BiggerPockets on the website
    0:53:43 and on the podcast where you can find me on Instagram
    0:53:45 where I’m at the data deli.
    0:53:46 – Awesome.
    0:53:48 And I’ll stick your links in the show notes.
    0:53:50 Thank you so much for coming on YAP.
    0:53:51 – Thank you, Holly, I appreciate it.
    0:53:57 – Well, there you have it,
    0:53:59 another epic episode in the books.
    0:54:01 And I learned so much from Dave Mayer
    0:54:03 about investing in real estate.
    0:54:05 And although they call it investing,
    0:54:06 like Dave said,
    0:54:09 it actually has more in common with entrepreneurship.
    0:54:11 You’re really operating a business
    0:54:13 when it comes to real estate.
    0:54:15 And you can’t just buy a property and forget about it
    0:54:18 if you want to maximize your return.
    0:54:19 And as investments go,
    0:54:22 real estate is a pretty unique asset class.
    0:54:24 It almost always appreciates over time.
    0:54:28 Plus you can earn easy cash flow from your investment.
    0:54:30 Rents tend to keep pace with inflation.
    0:54:32 And then you can use some of that cash flow
    0:54:36 to invest in more properties and grow your portfolio.
    0:54:37 It’s really not a bad deal.
    0:54:39 And how many investment vehicles give you
    0:54:43 that kind of tax break that real estate does.
    0:54:44 Still, the one thing to keep in mind
    0:54:47 is that you’ve got to play on a long-term horizon.
    0:54:50 It’s really hard to time the market in real estate,
    0:54:52 but at the same time,
    0:54:53 there’s really not that much volatility.
    0:54:57 So over time, you should see a decent return.
    0:54:59 And speaking of markets, when it comes to location,
    0:55:01 Dave says you should look for markets
    0:55:05 where demand consistently outpaces supply.
    0:55:07 Recently, that included the Sun Belt States,
    0:55:10 like Texas, Tennessee, and North Carolina.
    0:55:12 And Dave thinks there’s gonna be some great opportunities
    0:55:15 in the Midwest soon as well.
    0:55:17 Finally, just like entrepreneurship,
    0:55:19 when it comes to real estate investing,
    0:55:21 you really just have to jump in and get started.
    0:55:24 Don’t wait on the sidelines for too long like I did.
    0:55:26 I had money to buy a place years ago,
    0:55:28 and I wish I did.
    0:55:30 And it’s just like starting a business.
    0:55:32 You need to be willing to work at real estate,
    0:55:35 take some risks, make some mistakes, learn as you go,
    0:55:37 but it’s not rocket science,
    0:55:39 and it’s a pretty forgiving business like Dave said.
    0:55:41 You don’t have to come up with a unique offering
    0:55:44 or a brilliant come-to-market strategy,
    0:55:49 just learn the ropes and do the work step by step.
    0:55:51 All right, guys, I’ll catch you next time.
    0:55:52 Thanks so much for tuning in
    0:55:54 to this episode of Young and Profiting Podcast.
    0:55:56 If you enjoyed this conversation with Dave Mayer,
    0:55:57 then spread the word.
    0:56:00 Help us spread this podcast by word of mouth
    0:56:03 by sharing this episode with somebody else.
    0:56:06 And if you did enjoy this show and you wanna thank us,
    0:56:07 the best way to do that
    0:56:10 is by dropping us a five-star review on Apple Podcast.
    0:56:13 If you guys like to watch your podcasts as videos,
    0:56:16 all of my interviews are on video uploaded to YouTube.
    0:56:19 Just look up Young and Profiting, you can’t miss us.
    0:56:22 You can also find me on Instagram @yappwithhalla
    0:56:25 or LinkedIn by searching my name, it’s Hala Taha.
    0:56:27 And of course, I’ve gotta thank my YAP team.
    0:56:29 You guys are all living legends.
    0:56:32 Thank you for all your effort on the show.
    0:56:34 This is your host, Hala Taha,
    0:56:36 aka the podcast princess, signing off.
    0:56:39 (upbeat music)
    0:56:42 (upbeat music)
    0:56:44 (upbeat music)
    0:56:47 (upbeat music)
    0:56:50 [MUSIC PLAYING]
    0:57:00 [BLANK_AUDIO]

    When Dave Meyer graduated in 2009, the job market was bleak. Inspired by a friend who found success buying a single-family home, he decided to give real estate a shot. Although Dave was unable to qualify for a loan on his waiter’s salary, he managed to secure his first property using creative financing. He continued to spend his spare time managing his properties until his tech startup failed in 2016. At that point, he decided to focus on real estate, combining his experience with his data science skills to build a thriving career at real estate platform, BiggerPockets. In this episode, Dave explains how anyone can start and scale a real estate portfolio. He also shares tips and strategies to navigate today’s housing market.

    In this episode, Hala and Dave will discuss: 

    (00:00) Introduction to Real Estate Investing

    (01:52) Why Real Estate is a Smart Investment

    (05:50 Understanding Cash on Cash Return

    (06:29) Real Estate as Entrepreneurship

    (07:40) Dave’s Real Estate Journey

    (18:29) Managing Real Estate Investments

    (25:59) Economic Considerations in Real Estate

    (29:32) Understanding Depreciation and Tax Benefits

    (32:31) Exploring Hot Real Estate Markets

    (34:14) Overcoming Real Estate Investment Fears

    (37:35) Quick Fire: Pros and Cons of Different Deal Types

    (41:39) The Appeal of Commercial Real Estate

    (44:03) Development and Lending in Real Estate

    (48:43) Final Thoughts and Advice for Aspiring Investors

    Dave Meyer is a seasoned real estate investor and the Vice President of Data and Analytics at BiggerPockets. With more than 14 years of experience, he has grown a thriving real estate portfolio, starting with a fourplex he bought at age 23. Dave has authored notable books like Real Estate by the Numbers and Start with Strategy, where he combines his analytical expertise with actionable advice for investors. As the host of two popular podcasts, On the Market and the BiggerPockets Real Estate Podcast, Dave educates listeners on smart investing strategies. Known for developing tools like the Market Finder, he has made data-driven decision-making more accessible for investors.

    Connect with Dave:

    LinkedIn: linkedin.com/in/dave-meyer-5660846

    Instagram: instagram.com/thedatadeli

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    Resources Mentioned:

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    Start with Strategy: Craft Your Personal Real Estate Portfolio for Lasting Financial Freedom: amzn.to/3ZLMG6e 

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  • YAPClassic: Nick Loper, Master the Art of Side Hustles to Create Lasting Freedom

    AI transcript
    0:00:03 Today’s episode of YAP is sponsored in part by Shopify,
    0:00:05 Found, and Airbnb.
    0:00:07 Shopify is the global commerce platform
    0:00:09 that helps you grow your business.
    0:00:12 Sign up for a $1 per month trial period
    0:00:14 at Shopify.com/profitink.
    0:00:17 Found gives you banking, invoicing, and bookkeeping
    0:00:21 all in one place and was created for busy entrepreneurs.
    0:00:25 Try Found for free at found.com/profitink.
    0:00:28 Hosting on Airbnb has never been easier
    0:00:30 with Airbnb’s new co-host network.
    0:00:34 Find yourself a co-host at Airbnb.com/host.
    0:00:36 As always, you can find all of our incredible deals
    0:00:40 in the show notes or at youngandprofiting.com/deals.
    0:00:54 YAP, gang, gang, gang.
    0:00:56 Earlier this week, we aired my latest interview
    0:01:00 with Mr. Side Hustle himself, Nick Loper.
    0:01:03 In that episode, we talked about his very first appearance
    0:01:05 on the show that was episode 10
    0:01:07 when he was one of my first ever guests.
    0:01:10 I was a baby podcaster in this episode.
    0:01:12 Well, now’s your chance to experience that conversation
    0:01:15 as well in this YAP Classic episode.
    0:01:17 Now, this was recorded back in 2018,
    0:01:21 so it may sound a bit different than the podcast does today,
    0:01:23 but this is so much more than just
    0:01:26 an interesting archive exercise.
    0:01:28 And that’s because Nick shares some solid gold nuggets
    0:01:31 of wisdom that are still useful today.
    0:01:34 You’re going to hear Nick talk about his very first Side Hustle,
    0:01:37 what he calls the three laws of Side Hustle physics,
    0:01:40 as well as which personality types do especially well
    0:01:42 when it comes to Side Hustles.
    0:01:44 So if you’re considering a new Side Hustle
    0:01:46 or looking to expand an existing one,
    0:01:48 then why not prime yourself
    0:01:50 with a double dose of Nick Loper this week?
    0:01:52 You won’t regret it.
    0:01:55 Without further ado, I bring you Nick Loper.
    0:01:58 (whoosh)
    0:02:00 – So I thought that we could get started
    0:02:03 with getting acquainted, so an icebreaker, if you will.
    0:02:07 I was on your website and I saw this list
    0:02:09 of 25 facts about yourself,
    0:02:11 one of which I found really interesting.
    0:02:14 You took a cold shower for 500 days in a row.
    0:02:16 Can you tell me about that?
    0:02:18 Why on earth did you do that?
    0:02:19 – I know, it sounds awful now.
    0:02:23 So this was kind of in the 2014 to 2015 timeframe,
    0:02:26 started actually with a guest of mine on the Side Hustle show
    0:02:29 who was talking about taking cold showers,
    0:02:34 starting out as a fat burning hack
    0:02:36 to boost your metabolism for the rest of the day
    0:02:37 ’cause you’re gonna expend calories
    0:02:41 like heating your body up long after the shower is over.
    0:02:43 But then what he found was it was effective for that,
    0:02:45 but what he also found it was effective
    0:02:48 for just like motivation and he’s like,
    0:02:50 if this is the hardest thing that I have to do today,
    0:02:52 and some days it’s really hard ’cause it sucks,
    0:02:55 you feel like you’re ready to tackle anything.
    0:02:56 And I kind of found the same thing.
    0:02:58 And I said on air is like, you know what,
    0:03:01 that sounds awful, but let me give it a shot.
    0:03:02 And some good things started happening.
    0:03:04 It might’ve been totally placebo,
    0:03:08 but at that time started to get more coaching clients,
    0:03:09 like traffic started to pick up.
    0:03:12 I don’t know, for what a reason I was into it.
    0:03:14 And so I did it for over a year.
    0:03:15 I guess it was effective.
    0:03:18 Maybe it was what I needed at that time.
    0:03:19 – Would you recommend it to others?
    0:03:22 – Absolutely, get out of your comfort zone a little bit,
    0:03:26 do it for 30 days, or even maybe the baby steps way to do it
    0:03:28 would be to end your showers cold,
    0:03:30 which is kind of what I tend to do today,
    0:03:32 ’cause that’s less, for some reason less jarring
    0:03:35 than just like jumping straight into the cold water.
    0:03:37 – That’s funny, that sounds horrible.
    0:03:41 So how did you become the chief side hustler
    0:03:43 at Side Hustle Nation?
    0:03:45 Tell us about yourself, your journey,
    0:03:47 you know, how you got started with it all.
    0:03:51 – My original side hustle was when I was working corporate
    0:03:54 was a footwear comparison shopping site.
    0:03:56 It was called Shoesniper.com.
    0:04:00 And it would aggregate the product catalogs
    0:04:01 from Zappos and Amazon
    0:04:04 and all these other online footwear retailers
    0:04:05 and tell you where you could find the best price
    0:04:07 on your next pair of shoes.
    0:04:09 And it earned money as an affiliate.
    0:04:12 So, you know, if somebody went and bought that pair of shoes
    0:04:14 through Amazon, the site would get a commission.
    0:04:17 And while I was running that,
    0:04:20 and the site had a almost a 10 year run,
    0:04:22 we was always looking for stuff on the side.
    0:04:25 And it was kind of like during one of these lower points
    0:04:27 of that business, doing some soul search and be like,
    0:04:28 well, what do you want to be known for
    0:04:29 when people Google you?
    0:04:31 What do you get excited about talking about?
    0:04:36 And it was that prospect of lower risk entrepreneurship.
    0:04:38 You know, how do I build a business on the side?
    0:04:40 How do I make extra money that, you know,
    0:04:42 really never gets old and still doesn’t get old
    0:04:45 because there’s a million and one creative ways
    0:04:46 that people are doing it.
    0:04:49 And that’s kind of where the Side Hustle show
    0:04:52 and the Side Hustle Nation blog kind of were born from.
    0:04:55 So right now, are you a side hustler?
    0:04:57 Like how many side hustles do you have?
    0:04:59 A lot of them overlap.
    0:05:02 And so my days of experimenting
    0:05:04 with a lot of this stuff are kind of limited.
    0:05:06 So I used to do some freelancing,
    0:05:08 used to do some e-commerce experiments
    0:05:10 with like Amazon and eBay.
    0:05:11 And I still do a little bit of that,
    0:05:13 but that’s kind of taken the back burner.
    0:05:18 The Side Hustle blog has kind of become in the podcast,
    0:05:20 kind of become the main focus,
    0:05:24 but there still are a dozen income streams related to that
    0:05:26 and not related to that through self publishing,
    0:05:28 through affiliate marketing on the site
    0:05:30 and on a couple other sites that I still run.
    0:05:32 Sadly, the shoe site no longer exists,
    0:05:35 but some other sites that were started during that time
    0:05:38 are still around, starting some experiments
    0:05:39 in the investing world.
    0:05:42 And it all, you know, it all adds up
    0:05:45 versus trying to rely on one source of income,
    0:05:47 having like a single point of failure.
    0:05:48 – Yeah, so to that point,
    0:05:52 why do you prefer or recommend having Side Hustles
    0:05:54 over a nine to five job?
    0:05:56 – Well, not necessarily a preference one over the other,
    0:05:57 but the ultimate freedom, right,
    0:05:59 is control over your calendar.
    0:06:00 How do you spend your time?
    0:06:01 How do you spend your days?
    0:06:04 And if you can piece together an income on your own terms,
    0:06:06 rather than on somebody else’s terms,
    0:06:09 you’re more likely to have that freedom.
    0:06:11 So that’s kind of where it came from for me.
    0:06:14 And I would definitely advocate focus first,
    0:06:16 simplify first, and then diversify second.
    0:06:18 So, you know, try and get one thing,
    0:06:20 one business, one income stream off the ground
    0:06:22 before going crazy and trying six things,
    0:06:24 you know, with an unfocused effort,
    0:06:28 ’cause I think that’s harder to see results from.
    0:06:30 – Why don’t you give some context to our listeners
    0:06:31 about Side Hustle Nation?
    0:06:33 So like, what is Side Hustle Nation?
    0:06:35 – Basically just a blog and podcast
    0:06:37 for people trying to make extra money
    0:06:39 outside of traditional employment.
    0:06:41 At the very low end of that,
    0:06:43 it could be like babysitting, walking dogs,
    0:06:43 delivering pizzas.
    0:06:46 Like, I think all of those count as Side Hustles.
    0:06:49 There is a connotation that a Side Hustle
    0:06:53 has a little bit more of an entrepreneurial upside,
    0:06:56 where maybe you’re not directly trading hours for dollars,
    0:06:58 or maybe there’s this vision, this hope,
    0:07:01 this dream that it could become something bigger,
    0:07:04 as it definitely did for me with the shoe business.
    0:07:07 – I have a little trouble distinguishing a Side Hustle
    0:07:10 from a part-time job or a second job.
    0:07:12 How do you personally define what a Side Hustle is?
    0:07:13 – Probably the textbook definition
    0:07:15 would be that upside potential,
    0:07:18 like that, it’s something that you have ownership over.
    0:07:20 Maybe it’s an asset that you own
    0:07:24 versus, okay, I drive for Uber,
    0:07:26 or I’m delivering pizzas,
    0:07:28 or I’m doing Instacart deliveries,
    0:07:29 or something like that, right?
    0:07:33 Like, that absolutely counts as a Side Hustle in my mind,
    0:07:35 but at the same time, you’re limited
    0:07:39 on how much you can do by your hours in the day,
    0:07:42 versus with you starting the podcast,
    0:07:46 it’s all of a sudden from a single mic
    0:07:47 and two people having a conversation,
    0:07:49 you could reach thousands and thousands of people,
    0:07:51 and that is really powerful.
    0:07:52 It becomes a little bit more leveraged,
    0:07:54 and I think there’s a lot more upside,
    0:07:56 even just like starting a freelancing business.
    0:07:57 Like, I’m gonna do freelance writing,
    0:07:59 I’m gonna do freelance podcast editing, whatever it is.
    0:08:01 – So I was doing a bit of research on the show,
    0:08:04 and I found out that more Americans
    0:08:06 are working a Side Hustle than ever before,
    0:08:09 and to be exact, there are 44 million Americans
    0:08:11 with a Side Hustle today.
    0:08:14 Why do you think the motivations to start a Side Hustle
    0:08:17 are so much stronger than they were in the past?
    0:08:19 – That’s a weird, it’s a weird time, right?
    0:08:22 It’s a weird statistic, because on the surface,
    0:08:26 the economy is great, unemployment is at record lows,
    0:08:30 yet why are 44 million people feeling the need,
    0:08:32 or the desire to go out and make extra money?
    0:08:35 So I think part of it is reactive, right?
    0:08:38 Housing, education, insurance, or healthcare,
    0:08:40 like all of those costs have grown way faster
    0:08:42 than real wages.
    0:08:43 So that’s a driving factor,
    0:08:46 like just the straight up cost of living,
    0:08:49 and people feeling the crunch to make ends meet
    0:08:50 and pay down student debt.
    0:08:53 That’s maybe the negative way to look at it,
    0:08:56 and the more positive way to look at it is,
    0:09:01 I have the ability and the desire to start something
    0:09:04 that scratches a creative itch,
    0:09:06 that is something that I have control over,
    0:09:10 that I’m interested in, that I’m passionate about.
    0:09:12 That’s probably driving some of that as well,
    0:09:13 and those are kind of the people
    0:09:16 that are more interesting to talk to
    0:09:19 than the people like, “Well, I need to make rent next month.”
    0:09:20 That’s, you’re approaching it
    0:09:22 from a completely different standpoint.
    0:09:23 – Yeah, and from my perspective,
    0:09:26 I really think it’s all about the digital innovation
    0:09:28 that’s going on, like there’s so many different
    0:09:32 digital platforms where people can do freelance work,
    0:09:35 whether it’s Fiverr or Upwork, and mobility, you know?
    0:09:38 Like you can just make money off your phone now
    0:09:39 while you’re on the train, you know?
    0:09:41 I used to do that years ago,
    0:09:43 but I just feel like it’s easier.
    0:09:45 There’s so much more space to play
    0:09:47 because we’ve got the internet now,
    0:09:49 and there’s just so much more that you can do
    0:09:51 with your free time to monetize it.
    0:09:54 So I think it’s also like digital impact too.
    0:09:58 – Yeah, that word play that you just used is really key.
    0:10:00 And approaching it that way, saying,
    0:10:02 “Look, this is going to be a fun experiment.
    0:10:04 I’m going to see what happens.
    0:10:06 I’m going to put some content out there.”
    0:10:08 And approaching it that way,
    0:10:09 you know, lessens the sting of failure
    0:10:11 and kind of puts you more into a scientist role
    0:10:13 where it’s like, “Okay, this is my hypothesis.
    0:10:15 I’m going to test something out.
    0:10:16 If it works, great. If it doesn’t,
    0:10:18 okay, on to the next thing.”
    0:10:20 – I also read that half of millennials
    0:10:22 report having a side hustle.
    0:10:26 So this is really big for the younger millennial generation.
    0:10:27 Why do you think it’s so attractive
    0:10:29 to younger millennials specifically?
    0:10:32 Most of my listeners are younger millennials.
    0:10:34 – Yeah, I think it’s that, you know,
    0:10:35 cash strapped nature.
    0:10:37 You know, look, we’re dealing with a debt load.
    0:10:41 We’re dealing with a higher cost of living in most cases.
    0:10:44 And it’s just, okay, how do I make ends meet?
    0:10:46 And the way I approached it was like,
    0:10:47 I was just looking for a way
    0:10:50 to use my free time more productively.
    0:10:51 When I was first starting the shoe business,
    0:10:53 like I moved across the country for my day job.
    0:10:56 Didn’t have any friends, like outside of the office really.
    0:10:57 And so I had a lot of free times, nights and weekends.
    0:11:01 I was like, well, I could play Xbox with my buddies back home
    0:11:02 or just sit there and watch TV.
    0:11:06 But so, you know, how can I be more intentional,
    0:11:09 be more effective with these hours that I’ve been given
    0:11:12 and try and make something worthwhile out of it.
    0:11:13 – Let’s hold that thought
    0:11:15 and take a quick break with our sponsors.
    0:11:22 – You mentioned that you have a blog.
    0:11:23 It’s a very cool blog.
    0:11:25 That’s actually how I found you.
    0:11:27 I was looking for ways to monetize my podcast
    0:11:29 and came across one of your blogs.
    0:11:29 – Oh, nice.
    0:11:32 – And one blog that I saw that I thought might be interesting
    0:11:34 to kind of recap for our listeners
    0:11:38 is this three laws of side hustle physics.
    0:11:41 Do you mind explaining what those three laws are?
    0:11:43 – Sure, well, these will parallel Newton.
    0:11:48 So somebody wants to get nerdy and talk about physics.
    0:11:52 So law number one is like this inertia and momentum law
    0:11:54 where you might remember from physics, right?
    0:11:57 An object at rest is gonna stay at rest
    0:11:59 and an object in motion is gonna stay in motion
    0:12:01 until acted upon by an external force.
    0:12:03 And we see this over and over again
    0:12:07 with people who are on the sidelines
    0:12:08 looking to get into the game.
    0:12:11 Like there has to be some motivating factor
    0:12:15 to get you to move, to take action,
    0:12:16 to register that domain name,
    0:12:18 to put up your profile on Upwork,
    0:12:21 to try and get that first client to put yourself out there.
    0:12:25 And maybe that’s a meeting with your boss
    0:12:26 that doesn’t go as well as you planned.
    0:12:29 Like one of my favorite moments on the show
    0:12:33 was a photographer, a journalist I had on the show.
    0:12:37 He just won international sports photographer of the year.
    0:12:39 Something like his highest award in his industry
    0:12:41 goes into his boss for his annual review.
    0:12:45 And his boss is like, man, I fought for 4%,
    0:12:47 but I could only get you a 3% raise.
    0:12:49 And he’s like, you gotta be kidding me.
    0:12:51 And he’s making like 30 grand a year doing this.
    0:12:54 And he’s like, this is not gonna work.
    0:12:57 And so that was the motivating factor
    0:12:59 to kind of get him off the sidelines
    0:13:04 and start thinking seriously about starting his side hustle.
    0:13:05 So that’s kind of the first law.
    0:13:06 And it goes both ways.
    0:13:07 Like once you’re in motion,
    0:13:08 and we see this over and over again,
    0:13:12 ideas start to pop up that you never would have had
    0:13:14 just based on conversations that you have
    0:13:17 or things that you come across during your research.
    0:13:19 And that it’s really powerful,
    0:13:21 like this inertia and momentum law.
    0:13:26 Law number two is this law of force and impact.
    0:13:28 And so this is Newton’s law of like acceleration,
    0:13:31 acceleration of an object occurs based on the force
    0:13:32 that was applied to it.
    0:13:35 So the smack of that 3% raise
    0:13:37 after winning the highest award in your industry,
    0:13:40 that was a pretty hard smack.
    0:13:43 And so it motivated Vincent to take off in a hurry.
    0:13:45 He told me he would have been happy with 10%.
    0:13:47 And so like that wouldn’t have been a big enough impact
    0:13:49 to really change his life.
    0:13:50 – I just wanna pause here for a second
    0:13:52 ’cause I love that.
    0:13:55 For me, rejection is such great motivation.
    0:13:59 You know, and it’s like every time I’ve ever been rejected,
    0:14:01 it’s been when I’ve like pivoted to something
    0:14:04 that is like a life achievement for myself.
    0:14:07 So I think that if you get rejected,
    0:14:09 if you feel like you’ve been let down,
    0:14:13 it’s the best time to put that negative energy
    0:14:15 into something positive and do something different
    0:14:17 and impactful for yourself.
    0:14:20 – Yeah, this was kind of like hit home.
    0:14:22 We were at this like beach vacation this summer
    0:14:24 and you’re at the pool all the time.
    0:14:26 And you’re like, man, I really should hit the gym more
    0:14:28 ’cause I see all these people who are super fit.
    0:14:29 And so like maybe that’s a motivating factor.
    0:14:31 You could see it in health, you could see it in business,
    0:14:33 you’d see it in relationships.
    0:14:35 It happens all over the place.
    0:14:38 And then the third law is this action and reaction.
    0:14:40 You know, so for every action,
    0:14:43 there’s an equal and opposite reaction.
    0:14:45 And so we’re recording this on election day
    0:14:48 and somebody just posted like whether you vote or not,
    0:14:49 that’s a vote.
    0:14:51 And so that made me think about this, you know,
    0:14:53 there’s an equal and opposite reaction.
    0:14:57 Even if nobody theoretically reacts to your stuff
    0:15:00 ’cause I wrote a personal blog for years and years and years
    0:15:03 that nobody really read outside of my friends and family.
    0:15:05 Well, that was a reaction.
    0:15:07 It was, you know, a reaction that told me
    0:15:10 that you better write about stuff that people care about.
    0:15:12 And it wasn’t all for waste
    0:15:15 because it was practicing skills of writing online
    0:15:18 and learning WordPress and learning all this other stuff.
    0:15:22 But it can be depressing when on the surface it’s like,
    0:15:24 yeah, there was no reaction.
    0:15:27 What kind of side hustles do you write about on your blog?
    0:15:31 The big three for the site right now are freelancing.
    0:15:33 Like we talked about e-commerce
    0:15:35 and kind of like a blogging
    0:15:38 and podcasting content marketing types of businesses
    0:15:41 where you’re like, okay, I’m gonna set up an online presence
    0:15:44 to talk about this subject matter that maybe I’m an expert in,
    0:15:47 maybe I’m not, maybe I’m learning this subject matter
    0:15:49 and, you know, monetizing through ads,
    0:15:51 through affiliate relationships, through digital products.
    0:15:54 And do you think that there are certain personality types
    0:15:58 that thrive in this side hustle role?
    0:15:59 I’ve seen it work across, you know,
    0:16:02 introverts, extroverts, young, old.
    0:16:04 It’s really a matter of figuring out,
    0:16:06 okay, what’s my offer gonna be
    0:16:09 and how can I get that in front of my target customers?
    0:16:11 Let’s say I’m a millennial
    0:16:14 and I have this idea for a side hustle.
    0:16:17 How can I test the idea and make sure it’s a good one
    0:16:20 before I either quit my day job
    0:16:22 or spend a vast amount of time on it?
    0:16:24 This is good, let’s dive into this a little bit more.
    0:16:27 So what’s the hypothetical business
    0:16:28 that you’re thinking about testing?
    0:16:31 Let’s say selling something on Etsy.
    0:16:31 Okay, perfect.
    0:16:33 So if we’re looking at Etsy,
    0:16:36 where I would start is the existing listings on Etsy
    0:16:40 and the existing listings on eBay, Amazon, Redbubble,
    0:16:43 you know, some of these other similar marketplaces
    0:16:45 where people buy me buying this stuff.
    0:16:47 If there are other people making sales,
    0:16:49 like that’s a fantastic sign, right?
    0:16:51 There’s money in that market.
    0:16:53 The second thing that I would probably do
    0:16:56 is Etsy costs like, I think 20 cents to put up a listing.
    0:16:57 It’s almost free.
    0:16:59 So you create your listing very affordably.
    0:17:01 And so if it’s a handmade product,
    0:17:03 I would just create one of those
    0:17:04 so you can take nice pictures
    0:17:06 and put up that listing for 20 cents.
    0:17:09 Etsy has on-platform advertising
    0:17:11 that you can use to drive traffic
    0:17:14 on top of their listing optimization tools
    0:17:16 and keyword tags and stuff like that.
    0:17:19 But one thing that you probably wanna do
    0:17:20 before paying for traffic
    0:17:24 is to land some social proof on your Etsy page,
    0:17:26 which is like, you know, the number of likes on this page,
    0:17:28 the number of sales that you’ve made.
    0:17:31 So you can see that with some initial reviews
    0:17:32 from friends and family.
    0:17:34 You might even just give these away
    0:17:37 and say, I’d really prefer if you ordered this through Etsy
    0:17:39 to help out my appearance on that platform.
    0:17:41 And you find that kind of a similar strategy,
    0:17:43 not just on Etsy, but on iTunes.
    0:17:45 Hey, can you review this podcast on you to me?
    0:17:47 Hey, could you review my course on Amazon?
    0:17:49 Hey, could you review my book?
    0:17:51 Like just to kind of seed the platform
    0:17:53 with a little bit of social proof.
    0:17:55 So the algorithms start to work in your favor.
    0:17:58 And so people, when they do land on that page,
    0:18:00 they say, okay, this isn’t a ghost town.
    0:18:03 There’s actually, you know, there’s something to this.
    0:18:06 – Isn’t that so funny how you could have thousands
    0:18:09 of listeners and the best personal feedback,
    0:18:12 but if you have no reviews, like you ain’t shit.
    0:18:14 – Yeah, and maybe that’s feedback too.
    0:18:15 Like if nobody wants your thing,
    0:18:17 like if you can’t get your friends and family to buy it,
    0:18:20 that’s probably a sign that it’s not the best business
    0:18:20 to go into.
    0:18:22 – And I know a lot of people are thinking
    0:18:25 about these days starting a podcast, starting a blog.
    0:18:27 Do you have any advice for those folks?
    0:18:31 – Yeah, I’m still really high on podcasting specifically
    0:18:33 because I forget the latest stats,
    0:18:36 but it’s probably something like 40% of the population
    0:18:38 even knows what a podcast is.
    0:18:40 And so that leaves a huge chunk of the pie
    0:18:44 like a left to go out and grow over the next 5, 10, 15 years.
    0:18:46 Like as people discover on demand audio
    0:18:49 and they’re probably gonna react like I did,
    0:18:50 like this is amazing.
    0:18:51 How did I waste so many years
    0:18:53 listening to nonsense on the radio?
    0:18:54 When I could listen to stuff
    0:18:57 that is gonna help me grow personally and professionally.
    0:18:59 Like really excited about that.
    0:19:04 The key then is, okay, how can I reach those people
    0:19:06 and the 40% that already do know about podcasts?
    0:19:08 How can I reach those people in a way
    0:19:11 that is either helpful or entertaining.
    0:19:12 A friend of mine kind of gave me,
    0:19:14 this was five or six years ago at a conference,
    0:19:15 he gave me the rule of the internet,
    0:19:17 which I quote all the time.
    0:19:19 It’s, you know, people are only ever online
    0:19:20 for one of two reasons.
    0:19:22 You know, number one, to be entertained.
    0:19:24 And number two, to solve a problem.
    0:19:26 And you can think of it, that’s Facebook and that’s Google.
    0:19:28 You know, to be entertained or solve a problem.
    0:19:32 And the podcast may bridge the gap there.
    0:19:34 Some friends have called it infotainment
    0:19:37 where you’re providing educational content,
    0:19:39 hopefully in an entertaining way.
    0:19:41 But you know, putting the listener first
    0:19:44 and it’s a practice, it’s a crap.
    0:19:47 Like the first 50 episodes of the side hustle show, awful.
    0:19:50 You know, I’m embarrassed to go back and listen to those,
    0:19:54 but it just took a while to hit my stride as a host.
    0:19:57 And I don’t know, you’re like a radio professional.
    0:19:59 So you’re doing great right out of the gate,
    0:20:00 but it’s a practice.
    0:20:01 Yeah, yeah.
    0:20:04 I read that the average side hustle
    0:20:06 only makes $200 a month
    0:20:08 and $600 a month
    0:20:10 if you’re really knocking it out of the park.
    0:20:11 But to me, that doesn’t really sound
    0:20:13 like a young and profiting type of stuff.
    0:20:15 That sounds like we could do better.
    0:20:16 Yeah, I definitely wouldn’t leave your job
    0:20:19 if you’re at that two to $600 a month level.
    0:20:23 What I would like to see is a track record
    0:20:26 of earnings history, you know, six to 12 months
    0:20:29 and other people will be more aggressive than this
    0:20:32 of replacing not necessarily your day job salary,
    0:20:34 but at least your monthly expenses.
    0:20:36 So you know, you’re not going to be dipping
    0:20:39 into your emergency fund, your savings
    0:20:41 to try and get to that ramp up period.
    0:20:45 The exception to that has been from folks
    0:20:47 where the day job really is the bottleneck.
    0:20:51 And you say, hey, if I had an extra 40, 50, 60 hours a week
    0:20:54 in some cases, I know I could get this thing
    0:20:56 to the next level where it could support me,
    0:20:57 where it could support my family.
    0:21:00 That’s when it might make sense to make the leap
    0:21:03 where it looks on paper prematurely.
    0:21:05 It has to align with your goals too, right?
    0:21:09 Some people have no intention of leaving their day jobs.
    0:21:12 Hey, I love my work, but I just, I do this stuff on the sign
    0:21:14 because it’s fun, because it’s interesting,
    0:21:17 because it provides play money, you know,
    0:21:19 for whatever reason, you know, it’s building my skills,
    0:21:22 it’s exercising it, you know, a different side of my brain.
    0:21:25 So not everybody is out to quit their day job.
    0:21:29 We’ll be right back after a quick break from our sponsors.
    0:21:32 (whooshing)
    0:21:37 I personally feel like side hustles have a negative appeal
    0:21:40 to some people, especially like the older generation
    0:21:42 that you should be more traditional,
    0:21:44 you should have a regular job.
    0:21:47 Have you faced any of that negative judgment?
    0:21:49 That’s an interesting one.
    0:21:52 So the negativity comes from a couple places.
    0:21:57 The first is that you kind of economic macro positioning
    0:21:59 that we talked about where it’s like,
    0:22:00 you know, what a sad state of affairs
    0:22:03 that 44 million people feel the need to side hustle,
    0:22:05 like why can’t it be like the old days, right?
    0:22:06 That’s maybe one angle.
    0:22:09 The other angle is just like maybe the word hustle,
    0:22:10 like as the connotation of like,
    0:22:12 I’m gonna scam people or something like that,
    0:22:15 not recognizing, it just means your effort,
    0:22:16 like control what you can control,
    0:22:18 work as hard as you can when you can,
    0:22:19 and be smart about it.
    0:22:22 So actually, side hustling nation comes from
    0:22:24 a quote from an old baseball coach of mine.
    0:22:26 He’s like, look, you’re gonna have bad days at the plate,
    0:22:28 you’re gonna have bad days in the field,
    0:22:29 but hustle never slumps.
    0:22:30 And I was like, okay, I really like that,
    0:22:31 that stuck with me.
    0:22:32 Yeah, it is catchy.
    0:22:34 And what side hustles today,
    0:22:36 like this very moment in time,
    0:22:38 would you recommend to our listeners?
    0:22:39 Oh my gosh.
    0:22:41 So we talked about the freelancing consulting stuff.
    0:22:43 If you have a skill that’s in demand,
    0:22:45 absolutely understand that your boss,
    0:22:49 your company is probably taking a large percentage
    0:22:50 of your value.
    0:22:53 A friend of mine was a tutor for Kaplan,
    0:22:55 or one of these big tutoring companies.
    0:22:56 He was making 18 bucks an hour,
    0:22:59 which was awesome for him, like in his early 20s.
    0:23:00 The company was turning around
    0:23:01 and charging the parents like a hundred bucks an hour.
    0:23:03 And so he was like, wait a minute,
    0:23:04 I have this skill, I could go out
    0:23:06 and sell that directly to my customers.
    0:23:08 So I like that freelancing marketplace.
    0:23:11 Perfect first side hustle is a way to get your feet wet,
    0:23:15 understand that you have value outside of your business card,
    0:23:16 outside of your paycheck.
    0:23:18 My wife and her business partner on the side
    0:23:21 from her job started a photography business,
    0:23:23 completely unrelated to her engineering job.
    0:23:25 So it doesn’t have to be, I’m an accountant by day.
    0:23:27 So I’ll do accounting at night.
    0:23:29 We talked about the podcasting stuff.
    0:23:33 We talked about kind of like the online authority business,
    0:23:36 blogging, content marketing businesses.
    0:23:39 I continue to see, and I continue to be impressed
    0:23:42 by some of the numbers that these guys are posting.
    0:23:45 I just talked to a guy this afternoon
    0:23:49 who was selling $45,000 a month worth of a online course
    0:23:53 that teaches you how to start a microgreens farming business
    0:23:55 and grow the stuff in your garage
    0:23:58 and sell it to the farmer’s market and to local restaurants.
    0:24:00 And it just blew my mind that there was that much demand
    0:24:03 in a niche I had never even heard of.
    0:24:05 And I’m really excited by stuff like that,
    0:24:08 people having this new ability to kind of monetize these
    0:24:12 little skills, hobbies, interests that they might
    0:24:14 be able to put out there.
    0:24:17 Yeah, I feel like courses are getting more and more popular
    0:24:20 and so in demand because people just want to learn.
    0:24:24 And if it’s unique content that they can’t find anywhere else,
    0:24:26 you can package that up and monetize it, you know?
    0:24:29 Yeah, make it easy for me, make it step by step, absolutely.
    0:24:30 And how about blogs?
    0:24:33 Like, is there a way to really monetize blogs these days
    0:24:36 ’cause it seems so oversaturated?
    0:24:38 Yeah, that was my initial reaction too,
    0:24:40 but I keep getting proven wrong, you know,
    0:24:43 people starting relatively new sites.
    0:24:45 Again, another guy I talked to today
    0:24:48 started a mattress review blog in the UK.
    0:24:51 So like just even a tiny little island
    0:24:54 where apparently 15,000 people are finding his site
    0:24:56 every month and clicking on his affiliate links
    0:24:58 to go buy these mattresses.
    0:25:00 But because the price point is high enough
    0:25:01 and the commission is high enough,
    0:25:04 he’s able to make a full-time living doing that.
    0:25:07 So, you know, on the blogging front,
    0:25:09 the trap I want people to avoid is like,
    0:25:12 okay, I’m gonna start a personal blog
    0:25:13 and expect that that makes money.
    0:25:16 You know, the ones that I see doing well
    0:25:18 are the blogs that have content
    0:25:20 that solve specific problems.
    0:25:21 As you’re creating every piece of content,
    0:25:24 think, okay, how is somebody going to discover this?
    0:25:27 Usually it’s gonna be Google.
    0:25:28 Usually it’s gonna be Pinterest.
    0:25:32 But like thinking of these user-to-content platforms,
    0:25:33 that’s a term from Rosemary Groner
    0:25:36 who runs thebusybudgeter.com.
    0:25:38 It’s like a personal finance budgeting site
    0:25:39 that’s gone crazy.
    0:25:42 You know, how are people gonna discover this?
    0:25:46 And if it has some nonsensical, clever title
    0:25:48 that only makes sense to you,
    0:25:49 you know, probably nobody’s gonna click on that.
    0:25:50 Probably nobody’s gonna come and read that.
    0:25:53 And it’s like, you’re gonna pour your heart out.
    0:25:55 You’re gonna pour hours into creating this stuff.
    0:25:58 Like make sure that you’re setting yourself up for success.
    0:25:59 It’s something that somebody is looking for
    0:26:02 and you know, you’re giving them the best chance to find it.
    0:26:06 – Okay, so we’re gonna close out with one last question.
    0:26:10 Tell us about the day that you quit your nine to five job
    0:26:13 and what made you officially decide
    0:26:16 to start your side hustle career?
    0:26:21 – The day that I quit, I was out to dinner with my boss
    0:26:26 and this has been kind of on my mind for months, really.
    0:26:27 ‘Cause you know, I was building the shoe business
    0:26:28 on the side from this corporate gig.
    0:26:30 So I was out to dinner with my boss
    0:26:32 and I’m like, okay, this is the day.
    0:26:34 I’m like, I’m gonna break him the news.
    0:26:34 Like I’m out of here.
    0:26:36 I’m gonna give my notice.
    0:26:37 It still took me like a couple of beers deep
    0:26:40 into this dinner to like build up the nerve to do it
    0:26:42 because it’s like, is that allowed?
    0:26:44 Can I cut my own paycheck?
    0:26:45 You know, I went to school.
    0:26:47 I have these obligations.
    0:26:49 Like is this actually gonna work?
    0:26:52 And I had, you know, several months of earning history
    0:26:53 at that point.
    0:26:57 So it wasn’t completely, you might have heard the definition
    0:26:59 of an entrepreneur or somebody who jumps off a cliff
    0:27:01 and it’s gonna figure out how to build their parachute
    0:27:02 on the way down.
    0:27:05 Like that was not me and it was still super scary.
    0:27:08 But after I told him, it was like this huge weight
    0:27:12 off my shoulders and I just like, okay, this is real.
    0:27:14 Like let’s go do this.
    0:27:17 – And for millennials who are working a side hustle,
    0:27:20 when should they, you know, decide to make that move?
    0:27:23 – I would say once you have at least six months
    0:27:26 of earnings history to cover your expenses
    0:27:27 from the side business.
    0:27:30 So, you know, you’re not jumping without a parachute.
    0:27:33 You know, you’ve got something that you know is working
    0:27:35 and you think you can get to the next level
    0:27:37 if you’re gonna free up some time.
    0:27:38 – Awesome.
    0:27:40 Well, I really enjoyed this.
    0:27:42 Before we go, can you let our listeners know
    0:27:44 where they can learn more about you
    0:27:45 and Side Hustle Nation?
    0:27:46 – Absolutely.
    0:27:49 Hit up sidehustlenation.com/ideas
    0:27:52 for a constantly updated laundry list
    0:27:55 of part-time business ideas that you can start today
    0:27:57 and no opt-in required.
    0:27:59 And of course, would love to have you tune into
    0:28:02 the Side Hustle Show available in iTunes
    0:28:05 and pretty much every other podcast player app as well.
    0:28:06 – Perfect.
    0:28:07 Thanks, Nick.
    0:28:08 – You bet.
    0:28:09 Thanks for having me.
    0:28:11 (upbeat music)
    0:28:14 (upbeat music)
    0:28:17 (upbeat music)
    0:28:19 (upbeat music)
    0:28:22 (upbeat music)
    0:28:32 [BLANK_AUDIO]

    Eager to use his spare time productively, Nick Loper started his first side hustle, ShoeSniper.com. Throughout the decade he spent running the footwear comparison site, he consistently experimented with other income streams, including freelancing, affiliate marketing, and self-publishing. But when his business hit one of its lowest points, Nick found himself asking, “What do I truly want to be known for?” While having dinner with his boss one night, he managed to beat the nerves and summon the courage to quit his job. Then, he poured his energy into building Side Hustle Nation, a community helping millions of people find freedom through side hustles. In this episode, Nick shares practical advice on how you can start and grow a profitable side hustle of your own.

    In this episode, Hala and Nick will discuss: 

    (00:00) Introduction  

    (02:35) Side Hustles That Stick  

    (03:16) Breaking Your Comfort Zone  

    (04:59) Nick’s First Side Hustle  

    (08:05) Side Hustle or Second Job?  

    (09:17) Why Millennials Love Side Hustles  

    (11:00) Digital Tools That Make Side Hustles Easy  

    (12:25) The Three Laws of Side Hustles  

    (16:49) Simple Ways to Test Your Business Idea  

    (20:28) Side Hustles You Can Start Right Now  

    (24:23) Turning Niche Skills Into Big Cash  

    (26:52) When Should You Quit Your Job?  

    Nick Loper is the founder of Side Hustle Nation and the host of The Side Hustle Show, one of the top podcasts for entrepreneurs. His journey started while juggling a corporate job and building a footwear comparison shopping site on the side, which eventually led him to full-time entrepreneurship. Nick is the author of bestselling books like Buy Buttons and $1,000 100 Ways, offering actionable insights into building sustainable income streams. His work has been featured in Forbes, CNBC, and Entrepreneur, and his Side Hustle Nation community is a hub for thousands of hustlers worldwide. 

    Connect with Nick:

    Website: sidehustlenation.com

    LinkedIn: linkedin.com/in/nickloper 

    Twitter: x.com/nickloper 

    Instagram: instagram.com/nloper

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    Resources Mentioned:

    Nick’s Podcast, The Side Hustle Show: https://apple.co/4fhvMCg 

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    More About Young and Profiting

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    Follow Hala Taha

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  • Nick Loper: Side Hustle Secrets Every Aspiring Entrepreneur Needs to Know | E323

    AI transcript
    0:00:03 Today’s episode of YAP is sponsored in part by Shopify,
    0:00:05 Found and Airbnb.
    0:00:07 Shopify is the global commerce platform
    0:00:09 that helps you grow your business.
    0:00:12 Sign up for a $1 per month trial period
    0:00:14 at Shopify.com/profiting.
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    0:00:21 all in one place and was created for busy entrepreneurs.
    0:00:25 Try Found for free at found.com/profiting.
    0:00:28 Hosting on Airbnb has never been easier
    0:00:30 with Airbnb’s new co-host network.
    0:00:34 Find yourself a co-host at Airbnb.com/host.
    0:00:36 As always, you can find all of our incredible deals
    0:00:41 in the show notes or at youngandprofiting.com/deals.
    0:00:44 You’re one layoff away or one bad meeting away
    0:00:45 from having your income go to zero.
    0:00:47 That’s a really stressful way to live.
    0:00:50 The realm of potential side hustles
    0:00:52 has expanded in the last 10 years.
    0:00:56 You are famous for having a lot of side hustles.
    0:00:58 What are some side hustles that do well
    0:00:59 in tough economic times?
    0:01:01 My very first side hustle was–
    0:01:05 How do you think AI is transforming the side hustle world?
    0:01:07 It has improved certain processes,
    0:01:08 has made things more efficient,
    0:01:10 but you don’t entrepreneur is somebody
    0:01:11 who jumps off the cliff and figures out
    0:01:13 how to build their parachute on the way down.
    0:01:15 What side hustles allow you to do
    0:01:16 is just reduce the height of the cliff.
    0:01:18 Even if you don’t have a side hustle,
    0:01:19 even if you don’t have a business,
    0:01:21 you are the CEO of your own life.
    0:01:23 Stop shipping a thing anymore.
    0:01:24 Whoa.
    0:01:26 (wind blowing)
    0:01:31 (gentle music)
    0:01:41 – Yep, and welcome back to the show.
    0:01:43 And today’s episode is especially
    0:01:47 for my entrepreneur newbies and wannabes
    0:01:51 because we are lasering in on the topic of side hustles.
    0:01:53 Side hustles are very popular nowadays.
    0:01:55 It seems like everybody has a side hustle.
    0:01:57 And of course they do,
    0:02:00 because side hustles enable security and freedom
    0:02:01 and allow you to follow your passion
    0:02:03 while making money.
    0:02:05 Who wouldn’t love having a side hustle?
    0:02:09 I actually started Yap Media as a side hustle six years ago.
    0:02:12 And I’m so happy that I dedicated the time and effort
    0:02:15 it took to get this side business off the ground
    0:02:16 because now it’s my main hustle
    0:02:20 and I make millions of dollars a year off of this business.
    0:02:22 And I have so much security and freedom
    0:02:23 and live in my dream.
    0:02:25 So side hustles are awesome.
    0:02:27 I’m an advocate of side hustles.
    0:02:29 Nick Loper is a side hustle expert.
    0:02:31 He is the side hustle king.
    0:02:33 He knows everything about side hustles.
    0:02:34 He’s had so many side hustles himself.
    0:02:36 He’s been blogging about side hustles
    0:02:40 for over a decade now at the side hustle nation.
    0:02:43 He’s also the host of the very popular podcast
    0:02:44 called the side hustle show.
    0:02:46 And he interviews people with really unique
    0:02:49 and cool side hustle ideas all the time.
    0:02:50 So he’s a wealth of information.
    0:02:53 He’s got so much to share on how we can create
    0:02:56 and execute a very successful side hustle.
    0:03:00 Let’s dive right into my conversation with Nick Loper.
    0:03:02 Nick, welcome to Young and Profiting Podcast.
    0:03:03 – Happy to be back.
    0:03:05 Thanks for having me.
    0:03:05 – Of course.
    0:03:09 So fun fact, I was looking back in the archives
    0:03:12 and I realized that you came on the podcast
    0:03:15 back in 2018, episode 10.
    0:03:18 You were one of the first podcasters and people in general
    0:03:20 that I’ve ever interviewed.
    0:03:22 And I think it’s just so awesome
    0:03:24 because you were somebody that I looked up to
    0:03:26 and now everything is so full circle
    0:03:30 because I’m not only interviewing you again on the podcast.
    0:03:32 You’re in my podcast network.
    0:03:33 We work together.
    0:03:37 And so I just feel like it’s just a beautiful moment right now.
    0:03:38 – Well, it was one of these things
    0:03:42 where I think you reached out, whatever that was, 2017, 2018.
    0:03:45 And it’s like, this girl’s a go getter.
    0:03:46 She’s going places.
    0:03:49 But I just want to watch this journey
    0:03:51 and it’s been really inspiring to see
    0:03:55 what you’ve built starting as a side project
    0:03:58 and into this media behemoth conglomerate
    0:04:00 that you got going on now.
    0:04:00 – Thank you.
    0:04:01 I really appreciate that.
    0:04:03 I appreciate you taking a chance on me.
    0:04:07 And so when we first spoke in 2018,
    0:04:09 side households was not necessarily new
    0:04:11 but it was becoming this trend.
    0:04:14 And we were talking about the gig economy.
    0:04:17 And we were talking about remote work
    0:04:19 and the future of remote work,
    0:04:22 not even realizing that two years later,
    0:04:25 everything would accelerate with COVID.
    0:04:27 And so my first question to you is,
    0:04:29 give us the evolution of side hustles.
    0:04:30 How did it start?
    0:04:32 When did it start to pick up steam
    0:04:33 and where are we at now?
    0:04:36 – Yeah, I don’t think it’s a new concept by any means.
    0:04:38 I think previous generations would have called it
    0:04:40 moonlighting or having a second job.
    0:04:43 And it might have looked like bartending on the weekends
    0:04:46 or delivering pizzas or having a rental property.
    0:04:49 But the realm of potential side hustle
    0:04:51 says absolutely expanded in the last 10 years
    0:04:55 with the rise of peer-to-peer gig economy type of apps,
    0:04:56 plug and play, side hustles.
    0:04:59 I would sign up for Uber and go drive around
    0:05:01 or do DoorDash and stuff like that.
    0:05:04 There’s a peer-to-peer platform for just about anything
    0:05:06 if you have an underutilized asset in your life,
    0:05:08 whether it’s your house or your car
    0:05:11 or you’re watching other people’s dogs,
    0:05:13 there’s all sorts of different things that you can do.
    0:05:16 And side hustle nation has been a beneficiary
    0:05:20 of that rising tide of interest inside hustles
    0:05:22 over the last 10 or 12 years.
    0:05:26 And it’s become much more mainstream.
    0:05:29 And I think that’s one part out of a necessity
    0:05:32 where like housing, healthcare, education,
    0:05:35 some big ticket expenses have not gotten any cheaper.
    0:05:37 Wages by and large have not kept pace
    0:05:40 with some of those big ticket increases and expenses.
    0:05:43 And so approaching it out of necessity on the one hand
    0:05:46 and then approaching it out of this proactive desire
    0:05:48 to spend your free time more effectively,
    0:05:50 more productively, like if your day job
    0:05:52 isn’t scratching that creative itch,
    0:05:55 maybe something outside of your nine to five can do it.
    0:05:58 And we see people really tackling it from both sides.
    0:06:00 – Side hustles have totally taken over.
    0:06:03 I feel like everybody I know has a side hustle.
    0:06:07 So you are famous for having a lot of side hustles.
    0:06:10 And I know in the past you used to like break down
    0:06:12 how much money you make on your side hustles.
    0:06:14 So talk to us about the side hustles
    0:06:16 that you did six years ago,
    0:06:19 10 years ago versus the ones that you’re doing today.
    0:06:21 – My very first side hustle,
    0:06:23 aside from painting houses in college,
    0:06:24 like I don’t know if that counts,
    0:06:27 but the first online side hustle
    0:06:29 was a comparison shopping site for shoes.
    0:06:31 Like in the early days of the internet,
    0:06:32 10 different stores have this pair of shoes
    0:06:33 that you’re looking at.
    0:06:35 We’ll tell you where to find the best price.
    0:06:37 It was an affiliate marketing type of business
    0:06:39 where those stores would pay a finder’s fee.
    0:06:43 They would pay a commission for driving sales to their sites.
    0:06:44 That was a good one.
    0:06:46 I started a virtual assistant directory in review platform
    0:06:48 called virtual assistant assistant.
    0:06:51 Started in 2011, sold in 2020.
    0:06:54 That was really born out of my own experience
    0:06:56 and anxiety around working with virtual team members
    0:06:59 and like of all of the different companies,
    0:07:00 which ones are legit?
    0:07:02 Are they gonna steal my idea?
    0:07:04 How does it work with paying them and taxes?
    0:07:06 You know, all of these rookie questions,
    0:07:07 but then putting the directory
    0:07:09 and kind of having a front row seat as that industry
    0:07:13 really grew and expanded over that time too.
    0:07:16 That was the hypothesis in the early days
    0:07:19 of side hustle nation where I’m gonna be the guinea pig,
    0:07:20 I’m gonna be the tester,
    0:07:21 but try out all these different things
    0:07:24 and report back on the results.
    0:07:29 And in the early days, that was freelance writing,
    0:07:32 a little bit of freelance book editing
    0:07:33 for nonfiction authors.
    0:07:35 Started with like a gig on Fiverr.
    0:07:36 Hey, I’ll proofread your book.
    0:07:41 And as most books are a lot more than 500 words,
    0:07:43 but ended up to be some pretty sizable gigs.
    0:07:47 I did a lot of like Amazon FBA clearance arbitrage
    0:07:49 in those early years,
    0:07:51 because somebody told me about it on the podcast.
    0:07:56 It’s like, there is no way in the era of big data
    0:07:57 that this is actually a thing.
    0:07:59 But sure enough, you go to Walmart,
    0:08:00 you scan the products and you’re like,
    0:08:02 oh, okay, it says there’s profit here,
    0:08:05 then you ship it in and it sells immediately.
    0:08:08 And you’re like, okay, I guess this is a thing.
    0:08:12 It was doing that kind of thing, selling digital products,
    0:08:14 creating online courses on Udemy,
    0:08:15 doing the self publishing thing,
    0:08:19 trying my hand in a bunch of different areas.
    0:08:20 And I think it was a ton of fun
    0:08:22 to play around and do those experiments.
    0:08:26 – Now today, one of your biggest side hustles is podcasting.
    0:08:30 So talk to us about how you monetize your podcast.
    0:08:32 – Well, this is the dream job.
    0:08:34 If I can show up and get paid
    0:08:37 to do my hour, hour and a half of radio every week,
    0:08:38 I don’t know why I would ever give that up.
    0:08:43 I did such a kick out of scooping side hustle stories,
    0:08:44 connecting with people
    0:08:47 with really inspiring businesses that they built.
    0:08:49 I mean, the show is primarily monetized
    0:08:51 through sponsorships.
    0:08:54 Most of them are coming through YAT media these days.
    0:08:58 And it took years to be truthful before that
    0:09:03 could meaningfully be called a full-time income from the show.
    0:09:05 What was more helpful early on was recognizing,
    0:09:08 podcast advertising is amplitude and frequency.
    0:09:11 How big is the audience and frequency?
    0:09:12 How often can you reach them?
    0:09:14 And so if you have an entrepreneur’s on fire,
    0:09:16 daily show with a big audience,
    0:09:19 yeah, absolutely, you’re gonna kill it on advertising.
    0:09:21 But if you’re doing, at that time,
    0:09:23 a weekly show with a modest audience,
    0:09:25 does this really pencil out?
    0:09:28 But using it as a content marketing channel
    0:09:30 to build up an audience, build up an email list,
    0:09:32 build relationships and trust,
    0:09:36 it still was absolutely worthwhile to do in the early days.
    0:09:37 And you still get all those benefits,
    0:09:39 even though the show is now monetized primarily
    0:09:42 with pre-roll or mid-roll ads,
    0:09:44 rather through sponsorships.
    0:09:47 And to your point, podcasting is no easy route.
    0:09:49 It’s not like you’re gonna start a podcast,
    0:09:50 get really rich.
    0:09:52 However, if you can build an audience,
    0:09:53 it is very lucrative
    0:09:56 and there’s really not that many podcasts out there
    0:09:57 that get a lot of downloads.
    0:10:01 And so filling up your sponsorships is a lot easier
    0:10:03 than one might think.
    0:10:04 The key is just growing that audience,
    0:10:05 which is the hard part.
    0:10:06 – That’s the hard part.
    0:10:10 I think of it in terms of what I call the listener pyramid.
    0:10:11 You know, pyramid with four levels.
    0:10:13 You have strangers, unfortunately,
    0:10:15 that’s the biggest section of the base of the pyramid.
    0:10:17 Strangers, people who don’t know you exist.
    0:10:20 You’ve convinced some of them to become listeners.
    0:10:22 You’ve convinced some of them to become subscribers.
    0:10:23 And then ultimately what you’re shooting for
    0:10:25 at the top of the pyramid is fans.
    0:10:27 These are the people who listen to everything
    0:10:28 that you put out.
    0:10:30 They’re the people evangelizing for you.
    0:10:31 They’re spreading the word.
    0:10:34 They’re taking your recommendations.
    0:10:36 And with every piece of content that you create,
    0:10:39 it’s like trying to ascend people on that pyramid,
    0:10:43 you know, from really compelling titles and topics
    0:10:45 to hopefully get a stranger to give you a chance
    0:10:47 and listen to you for that first time.
    0:10:49 And then hopefully they do and they’re compelled
    0:10:52 to click that subscribe button to that follow button.
    0:10:53 And hopefully they spend enough time with you
    0:10:54 in their earbuds.
    0:10:57 They become fans of yours and help spread the word.
    0:11:01 – Now, Nick, I sell your ads and you’re sold out.
    0:11:03 And I’m always like, Hey Nick,
    0:11:05 can we do a newsletter series?
    0:11:08 Or can you drop another episode per month?
    0:11:10 Or I’m always like trying to convince you,
    0:11:11 what else can we monetize?
    0:11:13 We need more inventory, right?
    0:11:14 Cause that’s how my brain works.
    0:11:17 And you’re very much chill.
    0:11:18 You’re like, you know what?
    0:11:20 I’m happy with the number of ads.
    0:11:22 And I just, I’m curious.
    0:11:24 How do you decide whether or not?
    0:11:25 Because it’s basically like another side hustle.
    0:11:26 I’m saying like, Hey Nick,
    0:11:27 are you willing to do webinars?
    0:11:28 I can sell you webinars, you know?
    0:11:32 And you’re like, well, let’s just slow down here.
    0:11:34 What are you sure it’s all process?
    0:11:36 – Yeah, a friend of mine in a mastermind group
    0:11:39 posed decision framework and it’s stuck with me ever since.
    0:11:40 With every decision you make,
    0:11:43 does it add complexity or reduce complexity?
    0:11:44 And if it adds complexity,
    0:11:47 okay, is it permanent or is it short-term?
    0:11:50 And is that trade-off gonna be worthwhile?
    0:11:53 Obviously, like making money, it’s fun.
    0:11:54 But at a certain point you’re like,
    0:11:57 well, you still have to do right by the audience.
    0:11:58 – 100%.
    0:12:00 And I feel like some of our best creators in the network,
    0:12:03 like you and Jenna Kutcher, for example,
    0:12:04 your mindset is always there.
    0:12:07 How can I make sure that A, it’s worth my time.
    0:12:08 It brings me joy.
    0:12:10 It’s something that I want to spend my time doing.
    0:12:13 And B, how do I make sure that I’m, you know,
    0:12:14 have integrity with my audience?
    0:12:16 So I feel like that’s why you guys are sold out
    0:12:18 and do such a great job.
    0:12:21 – So aside from loving what you do,
    0:12:24 being passionate about side hustles,
    0:12:27 what are some of the other benefits of doing one?
    0:12:28 – My boss might disagree,
    0:12:30 but I think it made me a better employee
    0:12:33 where at my day job, my old day job,
    0:12:36 I was at the bottom rung of this Fortune 500 company.
    0:12:38 But by nights and weekends,
    0:12:41 I was the CEO of my own little project.
    0:12:45 And there’s some entrepreneurial upside to it
    0:12:48 that maybe it doesn’t scale to quit your job,
    0:12:51 but there’s still some benefit of doing that.
    0:12:54 And you can think of it in terms of the side hustle snowball
    0:12:55 is a framework that we talk about
    0:12:57 where you’ve itemized out your expenses
    0:12:59 from smallest to largest.
    0:13:00 It’s like everybody wants the side hustle
    0:13:02 that erases their mortgage or their rent.
    0:13:04 And that’s a great goal to have.
    0:13:06 But like, could you pay for your car insurance?
    0:13:07 Could you pay for your cell phone bill?
    0:13:09 Could you erase your gym membership
    0:13:11 or whatever to celebrating those small wins?
    0:13:13 ‘Cause I think there’s some value in that too.
    0:13:16 Like erasing those expenses with new income.
    0:13:17 – And I have to say,
    0:13:21 I think side hustles also add a layer of security.
    0:13:23 I have been talking to some of my girlfriends
    0:13:25 who have recently lost their job.
    0:13:29 And I feel like so many of my friends that had a nine to five
    0:13:32 are finding themselves jobless right now.
    0:13:34 And these are women that are so talented.
    0:13:36 They’ve always been employed.
    0:13:39 They have no reason to not be employed.
    0:13:42 And then I think back to young Hala
    0:13:45 starting Yap Media side hustle
    0:13:48 and the podcast for three years while working corporate
    0:13:51 and all the hard work I did to get it off the ground.
    0:13:53 And it makes me realize, wow,
    0:13:56 I’m so blessed because I’m so secure
    0:14:00 because I took that risk and I put in that work.
    0:14:04 What are your thoughts around the security piece around it?
    0:14:07 – Yeah, there’s some element of that
    0:14:09 whole digging your well before you’re thirsty thing.
    0:14:11 There’s a lot of stress.
    0:14:14 You’re one layoff away or one bad meeting away
    0:14:16 in some cases from having your income go to zero
    0:14:18 as a really stressful position
    0:14:21 to be like a really fragile way to live.
    0:14:25 So I think there’s definitely some of that security benefit.
    0:14:27 It’s not gonna be immediate probably
    0:14:29 but it’s something you can stack up over time.
    0:14:32 I think Reed Hoffman has the quote about,
    0:14:35 you know, an entrepreneur is somebody who jumps off the cliff
    0:14:37 and figures out how to build their airplane
    0:14:38 or their parachute on the way down.
    0:14:40 What side hustles allow you to do
    0:14:42 is just reduce the height of the cliff.
    0:14:43 That sounds terrifying.
    0:14:45 It’s like, well, if we can make it just a step off
    0:14:48 instead of this huge leap of faith.
    0:14:48 – Let’s hold that thought
    0:14:51 and take a quick break with our sponsors.
    0:14:54 Hey, AppBam, launching my LinkedIn secrets masterclass
    0:14:56 was one of the best decisions
    0:14:59 that I’ve ever made for my business.
    0:15:01 And I didn’t have to figure out all the nuts and bolts
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    0:15:07 I needed a monthly subscription option.
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    0:15:15 But here’s the thing.
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    0:15:35 And Shopify is not so secret secret as Shoppay
    0:15:38 which boosts conversions up to 50%.
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    0:16:26 YAP Fam, if you’re anything like me,
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    0:16:30 to spend all your time managing finances.
    0:16:33 Budgeting, invoicing and tax prep,
    0:16:36 not exactly the fun part of entrepreneurship.
    0:16:40 My COO Jason is great at the finance stuff,
    0:16:42 but even he doesn’t wanna switch between
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    0:16:49 We wanted a tool that could just do it all
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    0:19:35 So let’s talk about some side hustle ideas.
    0:19:38 And since we were just talking about tough times,
    0:19:40 what are some side hustles that do well
    0:19:44 in tough economic times or are just pretty stable
    0:19:47 type of side hustles to go after?
    0:19:48 – Yeah, we came across one
    0:19:50 that we would probably not check this box.
    0:19:52 It was called porch pumpkins.
    0:19:54 And, you know, you can check her out on Instagram
    0:19:57 at porch pumpkins, $7 million a year worth
    0:20:00 of decorative piling up pumpkins on people’s porches
    0:20:02 for Halloween and Thanksgiving.
    0:20:04 I don’t know if I would call that a recession-proof business,
    0:20:06 but fantastic.
    0:20:08 Good on you for tapping into this demand
    0:20:12 where you kind of go down Maslow’s hierarchy, right?
    0:20:13 Where, you know, food and shelter
    0:20:15 all the way up to self-actualization.
    0:20:17 And so the harder times get,
    0:20:20 the more people are focused on basic needs.
    0:20:23 And so if you’re providing something in that realm,
    0:20:25 even if it’s a food delivery service
    0:20:28 or maybe the food delivery budget gets cut back,
    0:20:30 but like you’re lowering,
    0:20:32 going lower down on that hierarchy of needs,
    0:20:35 it really comes down to solving people’s problems.
    0:20:39 I think about what I spend money on in my own day-to-day.
    0:20:42 It’s like, make this pain go away, right?
    0:20:43 You know, it’s so much easier to sell pain pills
    0:20:44 than it is to sell vitamins,
    0:20:47 even if the vitamins might be better for you long run.
    0:20:50 But if you can figure out what people’s pains and problems are,
    0:20:54 and especially solving those for a business customer,
    0:20:56 generally has more money to spend,
    0:20:59 that’s probably where I would play.
    0:21:01 Everybody knows at least one entrepreneur
    0:21:02 and you could start that conversation
    0:21:04 of what’s really bothering these days
    0:21:05 or what are the biggest bottlenecks
    0:21:06 or what are the biggest pain points?
    0:21:09 And even if you got nothing to sell right now,
    0:21:11 but it’s just you’re trying to probe
    0:21:14 for potential issues and pain points
    0:21:16 and get that conversation going.
    0:21:19 I love what you said in terms of start with the basic needs.
    0:21:22 When things are going bad, people still need to eat.
    0:21:24 People still need shelter, all those kinds of things.
    0:21:28 So the pumpkin thing was really a good one
    0:21:30 because it also lines up with some advice you give
    0:21:34 around having the shovel for the gold rush.
    0:21:35 Can you tell us about that tactic
    0:21:37 when thinking about side hustles?
    0:21:40 – Yeah, so maybe the gold rush here is a Pinterest trend
    0:21:44 around nice looking porches or holiday decor.
    0:21:48 She’s like, well, I can get pumpkins by the dozen.
    0:21:49 I’ll pile them up, I’ll make them look nice.
    0:21:51 I don’t know if she has a background in interior,
    0:21:54 exterior design or landscaper or anything.
    0:21:56 But you’re like, I get it, they look nice.
    0:21:58 But is that something that’s,
    0:22:01 I mean, she found, looked out a million dollars
    0:22:03 worth of business sold out by August.
    0:22:07 And it was like, there’s a niche for everything.
    0:22:08 – Yeah.
    0:22:10 – Those are the ones that always are super fun to share.
    0:22:13 It’s like, nope, never knew you could make money doing that.
    0:22:16 What other examples of getting the shovel
    0:22:18 for the gold rush can you give?
    0:22:21 – Maybe another example is the world of podcasting,
    0:22:23 especially during the pandemic.
    0:22:25 It’s everybody and their brother is starting a podcast.
    0:22:27 And so what shovels could you sell into that gold rush?
    0:22:29 Maybe it’s editing services.
    0:22:31 Maybe it’s the ad broker sales.
    0:22:34 Maybe it’s the recording platform software.
    0:22:37 If you have more technical development side of things,
    0:22:40 microphones, thinking of what are those trends
    0:22:43 in gold rushes that you could go and provide
    0:22:46 some type of service for.
    0:22:48 – AI might be a good one now.
    0:22:49 – Sure.
    0:22:50 Maybe you’re an early adopter.
    0:22:54 How can you use AI tools to provide some sort of service
    0:22:55 to somebody who either doesn’t know how to do it,
    0:22:58 doesn’t want to learn and they can improve
    0:23:00 some process flow in that way.
    0:23:03 We’ve seen people piggybacking on the popularity
    0:23:06 of other software tools.
    0:23:11 What if you are a Notion expert or a Pipedrive expert or?
    0:23:13 – HubSpotter.
    0:23:13 – Yeah HubSpotter.
    0:23:16 HoneyBook was one that we had on the show recently.
    0:23:19 You can help other companies implement this.
    0:23:22 You’ve already got the proven templates.
    0:23:25 And the advantage is there’s already some level
    0:23:27 of awareness and search demand.
    0:23:29 People are typing in questions into YouTube
    0:23:31 about these different software tools.
    0:23:34 Well, how do I do such and such in this thing?
    0:23:36 You create that video content and you know,
    0:23:37 hey, I’m an Asana consultant.
    0:23:39 And today we’re gonna learn how to do blah, blah, blah
    0:23:43 in Asana or HubSpot or QuickBooks or whatever it is.
    0:23:45 – Also Airbnb is a great example.
    0:23:47 When Airbnb got popular,
    0:23:51 then you have the Airbnb management, the Airbnb cleaners.
    0:23:52 – Totally, totally.
    0:23:54 – Yeah, the furnishings, everything.
    0:23:59 – Okay, so what about the most profitable side hustles
    0:24:01 or maybe some of the hottest new side hustles
    0:24:03 that you can talk about?
    0:24:05 – Oh my gosh, the most profitable one
    0:24:06 that comes to mind from recent memory.
    0:24:09 This guy must have just been printing money.
    0:24:14 This is a web design service called 180sites.com.
    0:24:17 I think ’cause he started initially charging 180 bucks.
    0:24:19 I think the pricing has changed.
    0:24:22 But focusing almost exclusively on building websites
    0:24:24 for pressure washing companies.
    0:24:27 So take this and run with this in any niche imaginable.
    0:24:29 If he’s doing this, just focus on building sites
    0:24:30 for pressure washers.
    0:24:34 Like typical web design might be sold as $5,000 upfront cost
    0:24:35 will be able to do this website.
    0:24:36 Flips that on its head.
    0:24:38 I’m just gonna charge you 180 bucks a month,
    0:24:41 200 bucks a month for a two year contract
    0:24:43 and then ongoing maintenance after that.
    0:24:44 We’re gonna host the site.
    0:24:46 If you need any updates, we’ll get those done.
    0:24:48 We’ll make sure it’s secure
    0:24:50 and represents your business well.
    0:24:53 And because his customers will only takes one extra job
    0:24:56 or half of an extra job to pay for this fee every month,
    0:24:59 it was a pretty easy sell.
    0:25:04 And when we recorded, he just had his first $100,000 month
    0:25:08 and it was this recurring revenue business model
    0:25:10 and it gets easier with every client you do.
    0:25:12 You add that to the existing template.
    0:25:14 You’re not starting from scratch every single time.
    0:25:17 It was like, it probably doesn’t take you very long
    0:25:18 to recoup your costs.
    0:25:20 He’s like, no, after month two or whatever,
    0:25:23 we’re broken even and the rest is gravy.
    0:25:25 It’s like insane profit margins run
    0:25:27 by a primarily overseas team.
    0:25:29 – Is he just targeting those businesses
    0:25:32 or he’s targeting multiple industries?
    0:25:34 – I think if somebody outside
    0:25:36 of a pressure washing company came to him
    0:25:38 and asked him to build a site, he’d absolutely do it.
    0:25:39 But that was the bread and butter.
    0:25:41 And because he had, at this point,
    0:25:43 several different templates.
    0:25:45 We’ll pick a choose which one you like
    0:25:46 and we’ll build that out for you.
    0:25:48 And so that added to the economies of scale
    0:25:50 and efficiencies of it.
    0:25:51 – It’s so random.
    0:25:54 How many pressure washing companies really are out there?
    0:25:55 Let’s talk about AI.
    0:25:59 How do you think AI is transforming the side hustle world?
    0:26:02 Are you worried about a lot of the typical freelance jobs
    0:26:05 going away or do you think it’s gonna augment
    0:26:07 and create more jobs?
    0:26:11 – It’s a really interesting place to be right now
    0:26:15 because on the one hand as a content creator, as a user,
    0:26:16 it has improved certain processes,
    0:26:18 has made things more efficient.
    0:26:21 At the same time, the AI snippets in Google
    0:26:22 are taking some of our traffic.
    0:26:25 It is a challenging place to play.
    0:26:26 Like a year and a half ago,
    0:26:30 we recorded this episode on doing faceless YouTube content.
    0:26:32 Try and win the viral lottery.
    0:26:35 Create a video around some topic that’s already trending.
    0:26:37 And it was hire a script writer.
    0:26:39 It was hire a voiceover artist.
    0:26:41 It was hire a video editor.
    0:26:43 And then hire a thumbnail designer.
    0:26:46 And we talked to the guy a year later.
    0:26:48 It was like, well, now we got chat GPT right in the scripts.
    0:26:51 Now we’ve got AI narration.
    0:26:52 And we’ve got, I think he still had
    0:26:54 a human video editor compiling stuff.
    0:26:56 It was like several of these different roles
    0:27:01 had been replaced by AI or 80% of it replaced by AI.
    0:27:02 He’s like, I’ll still go in and edit that script
    0:27:04 to make sure it is correct.
    0:27:06 But it was really interesting to see
    0:27:10 how some of the previous freelance talent at the low end
    0:27:12 got evaporated within a year.
    0:27:15 – Yeah, I know AI, it’s really helpful,
    0:27:17 but it’s also really scary.
    0:27:20 ‘Cause I do feel like a lot of people need to figure out
    0:27:23 how they can level up and differentiate outside
    0:27:27 of what AI can do, especially if you’re a graphic designer
    0:27:27 or a copywriter.
    0:27:30 I also feel like it’s gonna create a lot of competition.
    0:27:33 ‘Cause now anybody can be a graphic designer
    0:27:36 because you can use all these different tools
    0:27:39 and suddenly offer graphic design services.
    0:27:41 Are you worried about that at all?
    0:27:43 – More worried about deep fake stuff.
    0:27:45 Is somebody with hours and hours of their voice
    0:27:45 on the internet?
    0:27:48 Have you played around with 11 Labs at all
    0:27:49 and the voice cloning?
    0:27:51 – Yes, I have my AI voice.
    0:27:54 We use it when I’m sick and if I like miss my commercials
    0:27:55 or something, we’ll use it.
    0:27:57 – Yeah, it’s crazy.
    0:27:59 And maybe it’s just me, ’cause like I know
    0:28:03 that I didn’t speak it, but it sounds pretty good.
    0:28:03 – I know.
    0:28:05 – Yeah, that sounds like me, I’ll give it to you.
    0:28:07 – They’re not getting the tonality right though.
    0:28:10 I feel like we still got that over the machines
    0:28:11 for a little while.
    0:28:12 (laughs)
    0:28:14 – Yeah, that was an episode concept
    0:28:15 we were thinking of throwing out for Halloween.
    0:28:19 Like could we do 100% Zombie Nick episode?
    0:28:21 Just through 11 Labs and we ended up going
    0:28:23 with a different concept for that episode,
    0:28:26 but you could do little segments and absolutely,
    0:28:28 if you need to tweak something in that commercial
    0:28:30 and you don’t have your recording equipment handy,
    0:28:33 it’s like, okay, we’ll swap out that word for that word
    0:28:35 and it sounds just fine.
    0:28:37 – Maybe one day I’ll never have to record commercials again.
    0:28:41 – One cool one that we’re using on the video front,
    0:28:42 the bottleneck is still in scripting.
    0:28:44 And so we’re still working on chat GPT,
    0:28:47 like how to turn this blog post
    0:28:51 into a compelling video script and priming it
    0:28:53 in such a way as like you wouldn’t just read off
    0:28:55 the blog post like that wouldn’t play very well,
    0:28:56 but there’s this tool called Pictori,
    0:28:58 which you’ve been using for the last several months
    0:29:00 where you upload the script,
    0:29:02 you upload your voiceover narration
    0:29:07 and it pulls in hundreds of stock video clips
    0:29:10 that would have taken me or a human editor
    0:29:13 hours and hours and hours of tedious manual labor
    0:29:14 to do that and splice that together.
    0:29:16 It does it in just a few minutes.
    0:29:19 And I think it creates a pretty visually compelling video
    0:29:21 without you having to be on camera.
    0:29:24 I’ll introduce the topic, you know, talking head
    0:29:26 so that you like know that it’s an actual person
    0:29:29 for the first five or 10 seconds.
    0:29:31 And then it’s just rolled this tape
    0:29:33 and it’s pretty visually compelling
    0:29:35 and some of those videos have done pretty well.
    0:29:36 – Oh wow, I can’t wait to use that Pictori.
    0:29:37 It’s called, cool.
    0:29:39 – Yeah, Pictori, I gotta do a whole,
    0:29:41 I need to do a whole video kind of demo
    0:29:43 on our use case for it.
    0:29:46 – Okay, so let’s talk about how we can get started
    0:29:47 with some side hustles.
    0:29:50 So I know that service-based side hustles
    0:29:51 are the easiest to get started.
    0:29:54 So I started that way, I was good at social media
    0:29:56 and then I started a social agency
    0:29:59 and I started to just do that for other people.
    0:30:03 But talk to us about some of the disadvantages.
    0:30:05 I know they’re easy, but sometimes easy
    0:30:07 doesn’t necessarily mean better.
    0:30:08 What are some of the disadvantages
    0:30:12 of starting a service-based side hustle?
    0:30:15 – The most common pushback that I get is, well yeah,
    0:30:16 but you’re still trading time for money.
    0:30:17 I’m doing that on my day job.
    0:30:19 Why would I want to do that as a side hustle?
    0:30:22 That’s the most common pushback that I get.
    0:30:24 Nathan Berry has what he calls his ladders
    0:30:25 of wealth creation and it starts
    0:30:28 with trading time for money.
    0:30:30 Either at a job or as a freelancer,
    0:30:32 consultant, service provider of some sort,
    0:30:34 you almost have to start there to build up
    0:30:39 some entrepreneurial skillset and you can skip to the end.
    0:30:41 Like his top ladder is products and software
    0:30:43 and all the recurring revenue types
    0:30:46 of passive income businesses that everybody wants.
    0:30:47 You can skip some steps,
    0:30:48 but you can’t skip learning the skills
    0:30:50 as you got to work your way.
    0:30:52 And I was a little bit surprised to find
    0:30:55 that more guests started with a service business
    0:30:57 than any other business model.
    0:30:59 ‘Cause it’s like, it doesn’t have that allure
    0:31:02 of passive income, but it’s not necessarily
    0:31:03 where they end up.
    0:31:04 It’s like, okay, that’s where I started.
    0:31:06 And then it sparks some other idea.
    0:31:08 It sparks this conversation
    0:31:09 or you meet somebody through that
    0:31:11 and the businesses start to evolve.
    0:31:13 The opportunities become visible once you’re already
    0:31:17 in motion, but most people do start in that.
    0:31:19 I mean, there was me painting houses in college
    0:31:22 trying to figure out how to sell something
    0:31:25 and go through all the steps in that process.
    0:31:26 – Yeah, totally.
    0:31:28 And I can even think about it from my perspective
    0:31:31 when I first started social media and my agency,
    0:31:32 I was pretty hands-on.
    0:31:35 I’d be involved with the accounts, leading the strategy,
    0:31:38 even writing the posts, I think, when I first started.
    0:31:41 And then you build an agency, you build a team under you.
    0:31:43 Now there’s pods that manage my accounts
    0:31:45 and you can scale it.
    0:31:47 So any other ideas in terms of,
    0:31:49 aside from the agency model
    0:31:52 of how you can scale a service-based business?
    0:31:55 – Now you see, you can scale it with team members
    0:31:57 by having other people do the work.
    0:31:59 You can scale it by raising rates.
    0:32:02 You can scale by productizing to a certain extent
    0:32:06 where instead of hourly, now it’s just a fixed monthly cost
    0:32:08 and you have a sense of what your deliverables are gonna be.
    0:32:12 So you can sell it maybe without even talking
    0:32:13 on the phone with a customer.
    0:32:14 Like they just click the buy button
    0:32:16 and there’s a level of trust that’s built up.
    0:32:20 You could scale through referral partnerships
    0:32:22 where this one was like white labeling.
    0:32:24 Like this isn’t a service that we provide,
    0:32:27 but we can partner with this other agency
    0:32:28 or this other service provider.
    0:32:29 We’ve seen people do that.
    0:32:32 A friend of mine did, he was running like this SEO business
    0:32:36 and eventually got fully booked up, sold out.
    0:32:38 And he started making money, not doing the work.
    0:32:40 Like, oh, but I’ll introduce you to this other guy
    0:32:42 a friend of mine or this other business owner
    0:32:43 and like would get a finder’s fee
    0:32:45 for sending work to somebody else.
    0:32:47 I was like, well, that’s pretty interesting.
    0:32:50 And that evolved into a matchmaking directory
    0:32:53 or lead gen type of directory for that type of business.
    0:32:56 Like, oh, well, answer a few different questions
    0:32:57 about your goals and your type of business
    0:32:58 and we’ll match you or, you know,
    0:33:01 we’ll introduce you to the company that’s the best fit.
    0:33:03 I was like, oh, dang, you could probably do that
    0:33:04 in just about any niche.
    0:33:08 – Yeah, and also I guess you could turn your expertise
    0:33:10 whatever you were doing into a course
    0:33:13 or an info product and sell that.
    0:33:15 – Yeah, very common path to go.
    0:33:17 You know, have, do the thing, get the results
    0:33:20 and naturally you’re gonna have people asking,
    0:33:21 well, how did you do that?
    0:33:23 How did you build your podcast
    0:33:26 or how did you get somebody social followers?
    0:33:27 You get tired of answering the same question over and over
    0:33:29 again, you’re like, well, let me just record the answer
    0:33:32 as we’ll package this up into a digital product.
    0:33:33 – And speaking of products,
    0:33:36 there’s lots of different products, side hustles.
    0:33:39 Can you talk to us about product licensing
    0:33:40 and how that works?
    0:33:41 – Have you connected with Stephen Key
    0:33:43 from Invent Right at all?
    0:33:44 – No.
    0:33:44 – Fascinating guy.
    0:33:46 So he’s been doing this for decades,
    0:33:51 helping aspiring inventors license their products.
    0:33:54 And the way we kind of framed it was rather than
    0:33:56 at this time, like Amazon FBA private label
    0:34:00 was the hot thing, like tap into this huge market
    0:34:03 on the world’s largest store, Amazon, you know,
    0:34:06 build it and they’ll come almost was how you shoot
    0:34:07 and fish in a barrel.
    0:34:09 That’s at least how it seemed from the outside.
    0:34:10 His argument is like, look,
    0:34:13 look at all this upfront risk that you have.
    0:34:17 You gotta buy 500, 1,000 units of whatever this product is.
    0:34:19 You gotta spend additional money on marketing,
    0:34:22 advertising, collecting reviews.
    0:34:24 And then even if it hits,
    0:34:26 you’re gonna be reinvesting capital into inventory,
    0:34:28 sometimes for years before you could take those chips
    0:34:29 off the table.
    0:34:33 He’s like, what if instead you just pitch the idea
    0:34:37 to some company that already had the marketing manufacturing
    0:34:39 and the marketing firepower to make this thing a hit?
    0:34:43 And we talked to a guy whose business was,
    0:34:45 it was like a Pictionary inspired card game.
    0:34:47 It’s like, here’s something that already exists.
    0:34:49 Here’s my creative spin on it.
    0:34:52 Sold it to Mattel, maybe 5% licensing fee,
    0:34:55 which they netted like $300,000 in royalties.
    0:34:57 This guy was like a dentist in Georgia,
    0:35:00 it’s like a little side project for him.
    0:35:03 Another guest, she was like a softball player,
    0:35:05 a softball coach and she was playing third base
    0:35:08 and her hand kept getting hurt with hard ground balls.
    0:35:12 So she had a little padded inner glove thing.
    0:35:13 She was sticking inside her mitt
    0:35:16 and that was her little licensing invention
    0:35:21 or somebody else had like a koozie, like a can holder.
    0:35:23 The little bottom would freeze and it would fit
    0:35:26 into the dimple of your Coke can or your beer can.
    0:35:29 And it was like these little pivots on products
    0:35:32 that already exist is just such a creative way
    0:35:33 to go about it.
    0:35:34 – I love those ideas.
    0:35:35 And I love the fact that you don’t necessarily
    0:35:37 need to be a business person.
    0:35:40 You could just be an inventor
    0:35:42 and then pitch it to other businesses.
    0:35:43 So that’s cool.
    0:35:46 Dropshipping used to be really hot.
    0:35:48 Is dropshipping a thing anymore?
    0:35:51 – It is less popular than it once was,
    0:35:53 but still can work.
    0:35:56 Dropshipping is where you don’t hold any inventory
    0:35:57 but you partner with people who do.
    0:36:00 And usually it’s going to be big ticket
    0:36:02 or bigger ticket purchases
    0:36:04 that aren’t readily available nearby.
    0:36:06 Like we’ve seen people doing golf simulators
    0:36:10 or giant commercial inflatable bounce houses
    0:36:14 or maybe treadmills or treadmill desks,
    0:36:17 maybe barbecue smokers type of thing,
    0:36:18 but like typically bigger items
    0:36:20 where you don’t have to hold the inventory.
    0:36:22 You strike up partnerships with the distributors
    0:36:24 or manufacturers and you collect orders,
    0:36:26 you do the marketing and then you ship it out
    0:36:28 or the distributor ships it out on your behalf
    0:36:31 or the manufacturer ships it out on your behalf.
    0:36:32 And so the appeal is,
    0:36:34 well, I don’t have to buy this thing until it’s sold, right?
    0:36:37 And then I just make my maybe 10%, maybe 15%.
    0:36:38 You might have pretty thin margins,
    0:36:41 which you got to pay your entire marketing budget out of that.
    0:36:43 You figure out, how am I going to drive traffic?
    0:36:45 And then the other downside is I don’t really have any
    0:36:48 control over that customer experience.
    0:36:50 If there’s shipping delays, if something breaks,
    0:36:51 all of a sudden you’re a middleman.
    0:36:54 The customer thought they were doing business
    0:36:56 with you, but now you’re almost powerless.
    0:36:58 You just have to forward messages or calls.
    0:37:00 Like, hey, where’s my customer’s order?
    0:37:02 So definitely trade-offs.
    0:37:04 It could be kind of a competitive place to play.
    0:37:06 But if you can drive your own traffic
    0:37:09 and you’ve got a partner that you really trust,
    0:37:10 absolutely can work.
    0:37:12 – And I could imagine nowadays,
    0:37:16 it’s so easy to find and compare prices
    0:37:18 that that game could just be like a race
    0:37:21 to the bottom price-wise.
    0:37:24 – Yeah, as you think about, what’s my value add layer?
    0:37:26 Is it going to be customer support?
    0:37:29 Is it going to be some sort of consultation?
    0:37:33 Oh, on your golf simulator, are you an insider in that space?
    0:37:35 Like, do you know which ones are actually better
    0:37:36 and help customers drive their decision
    0:37:39 rather than just purely competing on price?
    0:37:43 – We’ll be right back after a quick break from our sponsors.
    0:37:48 – Okay, let’s do something fun.
    0:37:50 Let’s do some scenarios.
    0:37:52 – Okay. – Okay.
    0:37:53 – You ready for this?
    0:37:55 – I’m going to try.
    0:37:58 – You are the side hustler in this case, okay?
    0:38:00 You’re not Nick Loper in these scenarios.
    0:38:02 You are a side hustler with no experience.
    0:38:03 Are you ready?
    0:38:04 – Okay.
    0:38:07 – Number one, you just quit your job.
    0:38:09 You only have $2,500 to play with
    0:38:12 and you want to replace your income as quickly as possible.
    0:38:14 What do you do?
    0:38:16 – I would go that service route.
    0:38:19 And if I’m thinking longer term, that agency route
    0:38:22 where trying to figure out pain points and problems,
    0:38:23 what can I solve?
    0:38:24 And if it’s me personally, like, okay,
    0:38:27 I’ll go pressure wash people’s driveways or something.
    0:38:29 The machine is going to cost me 300, 400 bucks.
    0:38:31 Pressure wash somebody’s house, 300, 400 bucks.
    0:38:33 Like, you know, break even after one job
    0:38:35 and, you know, that’s kind of off to the races.
    0:38:39 And you could even go sell the job before buying the machine.
    0:38:40 You know, hey, can I come back next week
    0:38:42 to do pressure washing for you?
    0:38:45 And you don’t even need to spend the $2,500 upfront.
    0:38:49 Like if you prebook it, but longer term,
    0:38:50 I’m still trading time for money.
    0:38:52 I don’t have a lot of leverage in this.
    0:38:55 And so we talked to some really inspiring
    0:38:58 younger entrepreneurs recently who were doing
    0:39:01 a window washing business or, you know,
    0:39:03 car detailing business where it’s like,
    0:39:05 I can find other people who know how to do this
    0:39:07 where probably as good or better than me,
    0:39:10 I just need to be the marketing arm.
    0:39:12 I need to be the administrative arm, the scheduler,
    0:39:16 kind of being a better administrator, better operator,
    0:39:18 and then just finding trustworthy people to go out
    0:39:19 and do the work.
    0:39:21 And so similar to your agency,
    0:39:22 your social agency model,
    0:39:26 where that has got some scalability and some legs to it.
    0:39:27 – I love that idea.
    0:39:29 That seems so realistic.
    0:39:32 Like anyone could just go out there and do that.
    0:39:33 Okay, number two.
    0:39:35 And maybe you are Nick Loper.
    0:39:36 I don’t know how we should think about this.
    0:39:37 This is your Nick Loper,
    0:39:39 but you don’t have all this current side hustles
    0:39:41 that you have right now, okay?
    0:39:43 Okay, you have no background in e-commerce
    0:39:48 and you decide you wanna sell handmade products online.
    0:39:49 How do you get started on the right foot
    0:39:52 and avoid the typical obstacles?
    0:39:53 – I think for handmade products,
    0:39:56 you gotta figure out where the demand is.
    0:39:58 And it’s probably gonna be on Etsy
    0:39:59 and maybe Amazon handmade,
    0:40:01 if you can get accepted into that program.
    0:40:03 The challenge is,
    0:40:05 and there’s some keyword research tools
    0:40:09 that can help you with evaluating Etsy demand.
    0:40:11 And to their credit, Etsy has a lot of public data
    0:40:13 where they’ll show you the number of sales
    0:40:15 that each shop has made.
    0:40:17 They don’t tell you on the individual product level
    0:40:18 as far as I’m aware,
    0:40:21 but rather than trying to create demand from scratch,
    0:40:23 it’s so much easier to fill demand.
    0:40:25 So we’re trying to figure out what is already selling
    0:40:28 and how can you put your own unique spin on it?
    0:40:29 So that’s where I would go,
    0:40:31 especially if I don’t have an existing audience.
    0:40:34 I’m gonna be relying on Etsy’s audience in this case
    0:40:37 to say, “Hey, these products are popular.
    0:40:39 “How can I throw my hat in the ring
    0:40:41 “and try and capture some of that demand?”
    0:40:42 – I think that is so smart.
    0:40:44 I think that is one of the biggest mistakes
    0:40:46 that I see people do that are trying to launch,
    0:40:48 especially products.
    0:40:53 I had a friend once who wanted to start a sweatshirt company,
    0:40:56 and that’s just such a hard thing to compete with, right?
    0:40:59 How is your sweatshirt company gonna be different
    0:41:00 from everybody else’s?
    0:41:03 And to your point, if you can find something more niche
    0:41:06 that people are actually looking for and buying already,
    0:41:09 and you could just be the second or the third girl or guy
    0:41:12 who’s offering that one specific thing that everybody wants,
    0:41:15 you’ve just got such a better rate of success.
    0:41:18 Is there any insight in terms of testing products
    0:41:20 or anything that you wanna share?
    0:41:21 – Well, Etsy is nice from that standpoint
    0:41:24 ’cause it’ll cost you 20 cents to put the listing up,
    0:41:28 but we had a guy who was doing
    0:41:31 these Renaissance-style pet portraits,
    0:41:35 and I think he had actual Photoshop experts on his thing.
    0:41:36 You probably do this with AI now
    0:41:39 where customers would upload a picture of their dog
    0:41:44 and he would put them in this frilly Henry VIII type of outfit,
    0:41:46 and it was all print-on-demand,
    0:41:48 and he’d ship these guys the products.
    0:41:50 Something like that would be really interesting,
    0:41:52 some AI-powered type of thing,
    0:41:56 where it gets, like if you’re doing the print-on-demand thing,
    0:41:57 very much a volume game,
    0:41:58 where the people I see having the most success
    0:42:01 have thousands of products out there,
    0:42:04 and you’re just dealing with copycats all day long,
    0:42:07 if something sells the bots
    0:42:09 or the other people who are watching that say,
    0:42:11 “Oh, we better make a copy of this shirt
    0:42:12 ’cause somebody bought it,”
    0:42:15 and it can be really challenging,
    0:42:16 but it’s super rewarding.
    0:42:19 When we get those red-bubble sales notifications
    0:42:22 or those Amazon merch sales notifications,
    0:42:23 it’s passive income once it’s up there.
    0:42:25 – Yeah, and to your point,
    0:42:29 channeling demand on a platform like Etsy is just so smart
    0:42:31 because they’re already bringing the customers in,
    0:42:35 and these customers are looking for handmade items,
    0:42:38 and it’s just so much easier than creating your own website
    0:42:40 and trying to generate your own traffic.
    0:42:42 I feel like a lot of people take the uphill route,
    0:42:43 would you agree?
    0:42:47 – Yes, now the advantage to building your own audience,
    0:42:50 obviously, like you have much more control
    0:42:51 because Etsy’s customer, it’s not yours,
    0:42:54 it’s Amazon’s customer, it’s not yours.
    0:42:56 I had a woman on last year,
    0:42:58 the site is called Strapsicle.
    0:43:00 Strapsicle is this little silicone strap
    0:43:02 that goes on the back of your Kindle
    0:43:03 so you can read with one hand,
    0:43:06 and the origin story was fantastic.
    0:43:07 I was breastfeeding my son,
    0:43:10 and the Kindle dropped on his head,
    0:43:11 and everybody was really upset,
    0:43:12 like there’s gotta be a better way.
    0:43:14 None of the existing Straps were great,
    0:43:17 so we went out and invented this thing,
    0:43:20 and what she did, which was, I thought, really smart,
    0:43:22 lots of influencer marketing,
    0:43:24 partnering with TikTok or Book Talk
    0:43:27 was the sub community that she found.
    0:43:29 People who were really into Kindle and tapping in,
    0:43:31 “Hey, let me send you a free thing, no obligation,
    0:43:34 “no strings attached, and here’s an offer code
    0:43:35 “if you like it.”
    0:43:38 And was selling the crap out of these things with,
    0:43:41 you can imagine, like, it didn’t weigh anything,
    0:43:44 almost no cost to ship, almost no cost to manufacture,
    0:43:47 and then when it was time to launch on Amazon,
    0:43:49 they had this existing audience
    0:43:51 that they could push over there to leave reviews
    0:43:52 to go and buy the product,
    0:43:55 where I think most people start Amazon first
    0:43:56 and then try and wean themselves off,
    0:43:59 wean back onto their own Shopify-powered platform,
    0:44:02 and it’s so much harder to go that other direction.
    0:44:03 – I totally agree with that,
    0:44:05 and something that I read of yours
    0:44:06 that I thought was really interesting
    0:44:09 is that you actually consider a side hustle
    0:44:11 being growing an audience, right?
    0:44:13 You call it an audience business,
    0:44:16 so talk to us about why having an audience in itself
    0:44:19 can be a side hustle with multiple avenues.
    0:44:21 – Yeah, this is probably tier three,
    0:44:24 you know, tier one services, tier two products,
    0:44:28 tier three is this really flexible, hybrid,
    0:44:30 content-based business, audience-based business,
    0:44:32 where it could be a social following,
    0:44:34 it could be a blog following,
    0:44:36 a podcast following, a YouTube following,
    0:44:39 and once you have people paying attention,
    0:44:40 the entire playbook opens up.
    0:44:43 Yeah, sure, you could sell services, you could sell products,
    0:44:45 you could sell attention in the form of advertising
    0:44:47 or affiliate partnerships,
    0:44:49 but it really is a powerful place to play,
    0:44:52 and that’s really where I spent the bulk of my side hustle
    0:44:55 and entrepreneurial time over the last 10 years
    0:44:57 to try and figure out how to get more traffic,
    0:44:58 how to get more listeners,
    0:45:00 how to get more email subscribers,
    0:45:01 and playing in that space,
    0:45:04 because the scale is almost infinite, right?
    0:45:09 It takes, as you know, the same effort and energy
    0:45:11 and investment to create an episode,
    0:45:13 a podcast episode that 10 people listen to,
    0:45:17 or 10,000 people listen to, or 100,000 people.
    0:45:19 And so it’s a really unique platform in that way,
    0:45:23 and the same thing with social content or video content.
    0:45:25 Okay, so scenario number three.
    0:45:26 And this is something I didn’t realize
    0:45:28 you would have so much experience with,
    0:45:29 but apparently you do.
    0:45:32 So you want to be a virtual assistant,
    0:45:34 but you find there’s too much competition.
    0:45:36 How would you stand out?
    0:45:38 Yeah, you gotta niche down.
    0:45:41 And so to say I’m a general virtual assistant,
    0:45:43 it’s kind of a race to the bottom,
    0:45:48 but if you say I am your QuickBooks bookkeeping assistant,
    0:45:51 okay, now I’ve got a lane that I can play in,
    0:45:54 or I am your Funnel Optimization Assistant,
    0:45:57 I am your Community Manager,
    0:46:00 I am your Podcast Editing Provider,
    0:46:02 lots of different sub-niches.
    0:46:04 You can even ask ChatGPT,
    0:46:06 what are a hundred different services I could offer
    0:46:07 as a virtual assistant?
    0:46:09 And there’s gonna be a few on that list,
    0:46:10 where you’re like, I know how to do that.
    0:46:13 And even if you’re not completely,
    0:46:16 you know, the world’s foremost expert on that,
    0:46:18 I guarantee you will be after you get a couple of clients
    0:46:21 to do the thing, and then you can start to agency-fy that,
    0:46:23 you can start to productize that,
    0:46:25 and you might have some fun doing it,
    0:46:27 or you might find, I really didn’t like doing that,
    0:46:30 I’m gonna try Option B, go try something else.
    0:46:31 I love that one.
    0:46:32 Okay, last one.
    0:46:33 You love photography,
    0:46:36 and you’ve been doing it just as a hobby for years.
    0:46:38 You wanna start charging for your services,
    0:46:40 but you feel nobody will take you seriously.
    0:46:44 How would you transition from hobbyist to paid photographer?
    0:46:45 Oh, I like this one.
    0:46:48 This is actually my wife’s side hustle.
    0:46:49 So she does wedding photography,
    0:46:52 she does family photos for holiday cards,
    0:46:53 and stuff like that.
    0:46:55 What it was for them, from hobbyist to professional,
    0:46:57 was getting up the nerve,
    0:47:00 and this was 10 plus years ago,
    0:47:02 but add on Craigslist, we’ll shoot your wedding.
    0:47:05 Her and her partner, we’ll shoot your wedding for 200 bucks.
    0:47:08 I think it was like starting super, super low,
    0:47:10 ’cause in this business, portfolio sells.
    0:47:13 If I am a bride and you don’t have any wedding pictures,
    0:47:15 you’re gonna have to cut me a real good deal
    0:47:18 for me to take a chance with you on our wedding day.
    0:47:20 But that’s what they did, and they booked up,
    0:47:22 and I was like, who is looking
    0:47:24 for wedding photography on Craigslist?
    0:47:26 And maybe today, it would be Facebook groups
    0:47:29 or Facebook marketplace, different places to play.
    0:47:32 But in that era, that site had some eyeballs.
    0:47:35 And sure enough, they booked up 10 or 12 weddings.
    0:47:37 They raised their prices with each one,
    0:47:42 and now they charge $4,000 or $5,000 for this wedding package.
    0:47:45 But they had to have that portfolio to build up
    0:47:48 the experience of doing it live under the pressure.
    0:47:50 Like a family photography, like, okay, it didn’t work.
    0:47:52 We’ll just do it again next weekend.
    0:47:53 We’re not gonna restage this whole weddings.
    0:47:54 We gotta get it right the first time,
    0:47:56 to building up the confidence to do that
    0:47:59 and building up the confidence to charge more and more
    0:48:03 in land hire, paying clients, better venues, and all of that.
    0:48:04 And lots of cool stuff.
    0:48:06 So they found a strategic partnership
    0:48:09 with one of the wedding venues in California,
    0:48:11 where it’s like, and the conversation might be as simple
    0:48:14 as what does it take to get on your preferred vendor list?
    0:48:16 Who are the companies that you work with over and over again?
    0:48:19 And they’re like, fill out this application
    0:48:20 or make sure you have this insurance.
    0:48:21 And we’ll add you.
    0:48:23 Like it was not a difficult process.
    0:48:25 And now all of a sudden kind of a steady stream
    0:48:27 of weddings come through there.
    0:48:30 It could be one cool one,
    0:48:32 partnering with the local school PTA,
    0:48:34 like if they have a silent auction, okay,
    0:48:36 we’ll auction off a photo session.
    0:48:39 So we get in front of all the parents at that school.
    0:48:41 You just kind of start the word of mouth.
    0:48:44 It’s like micro-local influencer marketing almost.
    0:48:45 Yeah.
    0:48:47 It only takes one person who knows a lot of other families
    0:48:49 to start to figure you out.
    0:48:51 Such good tips there.
    0:48:53 Okay, so a lot of the stuff that we were talking about
    0:48:57 so far has been about skills, scaling out our skills.
    0:48:59 Even some of the e-commerce stuff takes a bit of skills.
    0:49:01 What if somebody’s like, listen, like,
    0:49:03 Nick, I don’t have any skills.
    0:49:07 What are some no-skill side hustles that I can tackle?
    0:49:10 This is where probably pause
    0:49:12 and first give yourself some credit.
    0:49:14 You probably have some skills by definition,
    0:49:15 like any job you’ve had,
    0:49:18 like that was a skill somebody thought was worth paying for.
    0:49:21 At the very low end of this,
    0:49:24 it could be those gig economy type of jobs.
    0:49:28 It could be the Instacars, the door dashes of the world.
    0:49:31 The downside is obviously time for money.
    0:49:35 It could be limited upside on that sort of thing.
    0:49:38 But it could also be something like other,
    0:49:41 what we call like plug and play side hustles.
    0:49:43 Like we’ve covered becoming a mobile
    0:49:45 notary loan signing agent.
    0:49:47 If you have an attention to detail
    0:49:48 and you can get a notary license,
    0:49:50 you’re qualified to do this work.
    0:49:53 And it’s not rocket science and not particularly exciting,
    0:49:55 like watching people sign papers,
    0:49:57 but it’s not the end of the world either.
    0:50:01 It could be taking surveys or doing online market research,
    0:50:03 focus group type of stuff.
    0:50:04 I think these are fun.
    0:50:06 I probably do three, four, 500 bucks a year worth of this stuff.
    0:50:08 It’s like, oh yeah, come to our online panel
    0:50:09 about credit card rewards
    0:50:13 or talk to us about your favorite video editing software.
    0:50:16 Like, all right, sure, that’s totally fine.
    0:50:19 It could be a bunch of apps will pay you to play mobile games
    0:50:21 if you’re into that kind of thing.
    0:50:24 Like another popular one in the past year or two
    0:50:26 has been this company called ShareTown,
    0:50:29 which is similar like plug and play
    0:50:33 where the ShareTown specializes in product returns
    0:50:34 for direct to consumer brands.
    0:50:36 It’s all like bulky stuff,
    0:50:39 like furniture, exercise equipment, mattresses.
    0:50:41 I think they do pizza ovens as well.
    0:50:43 But like, you know how all the mattress companies
    0:50:46 have like a hundred night better sleepers free guarantee?
    0:50:48 And so a certain percentage of people like, you know,
    0:50:50 either on night one or night 99, they’re like,
    0:50:52 eh, it wasn’t for us.
    0:50:53 So we want to return it.
    0:50:55 And so then as the local ShareTown rep,
    0:50:58 you get dispatched to go pick it up, you clean it up,
    0:51:01 you resell it ’cause Casper, whoever it is,
    0:51:02 they can’t take that mattress back.
    0:51:03 They don’t want it back.
    0:51:06 And so this is their way of helping the customer out
    0:51:09 and assume recouping a little bit of the cost
    0:51:10 at the same time.
    0:51:13 – Something else that bubbled up since we last talked
    0:51:16 was the advancements of all these sites
    0:51:20 that allow you to do these gig works other than Fiverr.
    0:51:22 There’s all these baby sitting sites
    0:51:24 and like cat sitting sites, dog sitting sites,
    0:51:27 just all these random sites for random services.
    0:51:29 Can you talk to us about some of the popular ones
    0:51:31 that are out there right now?
    0:51:35 – Yeah, so you mentioned Fiverr, obviously Upwork
    0:51:39 for the freelance marketplaces, Rover for pet sitting.
    0:51:42 There’s a peer-to-peer site for just about anything.
    0:51:45 The challenge is to find one that is up and coming
    0:51:48 and less saturated or maybe more niche.
    0:51:51 What I would probably Google is the service or skill
    0:51:55 that you have in mind plus marketplace or plus platform
    0:52:00 and see what comes up and maybe page two of Google.
    0:52:02 Maybe lower on page one and then you could plug
    0:52:04 that brand name into Google Trends and see like,
    0:52:07 is it increasing, is it decreasing?
    0:52:10 Just to try and catch something that’s on the upswing
    0:52:12 rather than one that is already just loaded
    0:52:15 to the gills with service providers.
    0:52:17 – So my last question to you, Nick.
    0:52:20 Somebody who’s tuning in, they work a full-time job.
    0:52:23 They feel like they don’t have a lot of time
    0:52:26 to start a side hustle, but they want to start working
    0:52:27 on getting some of that freedom
    0:52:29 and being less dependent on their job.
    0:52:33 What is your advice to them to just get started?
    0:52:34 – I love this question because everybody is here
    0:52:37 at one point or at some point,
    0:52:40 you find yourself in this exact position.
    0:52:44 So what you have to remember, and I’m still guilty of this,
    0:52:46 I want you to remove the phrase I didn’t have time
    0:52:47 from your vocabulary.
    0:52:48 Instead of I didn’t have time,
    0:52:50 the phrase that you need to get into your head
    0:52:52 is I prioritized something else.
    0:52:54 And it’s totally fine to prioritize something else,
    0:52:58 but that little mental shift of being honest with yourself,
    0:52:59 I prioritized watching Netflix,
    0:53:01 or I prioritized hanging out with my kids,
    0:53:02 that’s all totally fine.
    0:53:05 But you might find that you’re prioritizing
    0:53:06 some suboptimal things.
    0:53:07 So that’s the first step.
    0:53:10 Next step is getting consistent with carving out time,
    0:53:14 either daily or weekly, to make progress on the thing.
    0:53:15 And if you don’t block it off in the calendar,
    0:53:16 it’s not gonna happen.
    0:53:19 It could be a half hour first thing in the morning.
    0:53:21 It could be 15 minutes after the kids go to bed.
    0:53:24 It could be Saturday mornings on the weekend.
    0:53:26 You do it and do it consistently
    0:53:30 because it’s so hard to get that momentum spinning.
    0:53:33 It’s like trying to push that boulder down the hill.
    0:53:34 But once you get it rolling,
    0:53:36 the momentum can start to compound,
    0:53:37 the motivation can start to compound,
    0:53:39 especially if you start to see some results.
    0:53:43 And then you really feel the need to keep going at it,
    0:53:44 but carve out that time.
    0:53:46 Because otherwise, it’s like,
    0:53:48 I’ve been guilty of having,
    0:53:50 I’m a to-do list junkie and sometimes a to-do list
    0:53:52 will say things like, “Write book.”
    0:53:56 There is never, never gonna be an uninterrupted
    0:53:59 eight-week block of time to go and write this thing.
    0:54:01 So instead, trying to break it down
    0:54:03 into the smallest actionable steps
    0:54:06 that you might be able to accomplish
    0:54:07 or might be able to start on
    0:54:09 in that 15, 30 minute block of time.
    0:54:12 Like, okay, maybe I can outline chapter one
    0:54:17 or maybe I can start to chip away at this daunting project.
    0:54:19 People talk about eating an elephant,
    0:54:21 which is like the weirdest metaphor of all time.
    0:54:23 But, you know, it’s just one bite at a time,
    0:54:25 one step at a time.
    0:54:27 – Yeah, such, such good advice.
    0:54:28 I love that, Nick.
    0:54:31 Okay, so I end my show asking two questions to all my guests.
    0:54:34 You can forget about everything
    0:54:34 that we just talked about,
    0:54:36 answer these questions from your heart.
    0:54:39 It doesn’t have to do with the topic of today’s show.
    0:54:41 What is one actionable thing
    0:54:43 our young and profitors can do today
    0:54:46 to become more profitable tomorrow?
    0:54:47 – The first thing that comes to mind
    0:54:49 is actually keeping track
    0:54:51 of what I call your personal profitability.
    0:54:53 This is, even if you don’t have a side hustle,
    0:54:55 even if you don’t have a business,
    0:54:57 you are the CEO of your own life.
    0:55:00 And that means you’re in charge of how profitable am I
    0:55:01 as an individual, as a household?
    0:55:04 And this is simple equation, income minus expenses.
    0:55:07 And a lot of people have a sense of their salary
    0:55:08 or how much they’re making.
    0:55:10 But like, have you ever gotten really honest
    0:55:13 and granular about what are my actual outflows?
    0:55:15 ‘Cause every month, my wife and I,
    0:55:16 look at the credit card statement,
    0:55:19 and you’re like, ooh, a little bit higher than it normally.
    0:55:21 But it’s like, oh, we bought plane tickets
    0:55:23 or we had that garage repair.
    0:55:27 But it’s like, we have one thing in our mind
    0:55:28 of like, what the base level expenses is.
    0:55:30 And then another one that’s like the reality.
    0:55:32 And so trying to get honest, like, well,
    0:55:34 how profitable was it having that conversation
    0:55:37 and keeping track of that on a monthly basis,
    0:55:38 I think is really important.
    0:55:42 The IRS will ask you for your adjusted gross income
    0:55:44 and all these weird acronyms and measures,
    0:55:46 but they don’t care about,
    0:55:47 how much did you actually keep?
    0:55:49 What was the actual profitability of your household?
    0:55:51 I think it’s really important to get a pulse on that.
    0:55:52 – I love that.
    0:55:53 That’s one that I’ve never heard
    0:55:55 and it’s something that I certainly need to do
    0:55:58 because I feel like it’s so different every time.
    0:56:01 So it can help be really laser and in budget.
    0:56:03 And what would you say your secret is to profiting in life?
    0:56:05 And this can be outside of business profiting
    0:56:07 in all areas of life.
    0:56:10 What do you think is the secret to that?
    0:56:13 – The secret to a profitable life is (laughs)
    0:56:16 again, I was like the one word sound bite.
    0:56:20 What comes to mind is this willingness to experiment.
    0:56:23 And it comes down to like this house painting thing
    0:56:26 in college where they let you get several steps
    0:56:27 down the interview process
    0:56:29 before they even tell you it’s house painting.
    0:56:31 And then by that time, you’re kind of bought in
    0:56:34 and you’re like, well, do I really want to do that?
    0:56:37 And my girlfriend, you know, my future wife is just like,
    0:56:39 it’s three months of your life, who cares?
    0:56:41 Like if it sucks, it sucks, it’s not gonna kill you.
    0:56:45 And that kind of experimenter’s mentality
    0:56:46 has paid off over and over again.
    0:56:49 What’s the realistic worst case scenario?
    0:56:50 If it’s not life threatening
    0:56:52 and the upside is strong enough,
    0:56:54 it probably is worth a shot.
    0:56:56 And that’s something that we’ve seen over and over again,
    0:56:59 separating the side hustle show guests
    0:57:01 that are having success versus the people
    0:57:03 who are perpetually stuck on the sidelines,
    0:57:05 is willingness to take step one.
    0:57:08 Even if they don’t really know what steps two through 10 are,
    0:57:12 it’s kind of that unlock that really helps people
    0:57:15 work for profits and not wages, ultimately,
    0:57:19 and unlock that next level of personal freedom,
    0:57:20 financial freedom, for sure.
    0:57:21 – Amazing.
    0:57:23 I loved hearing your thoughts, Nick.
    0:57:25 Where can everybody learn more about you
    0:57:26 and everything that you do?
    0:57:28 – SidehustleNation.com is the home base.
    0:57:30 Would love to have you tune into the side hustle show.
    0:57:33 You find it in all your favorite podcast apps.
    0:57:35 I know we talked about a lot of different side hustles
    0:57:39 in this episode, but sidehustleNation.com/ideas,
    0:57:40 if you would like even more.
    0:57:43 This is kind of our annual updated list
    0:57:45 of the best that we found.
    0:57:47 – Awesome. Thank you, Nick.
    0:57:47 – You bet.
    0:57:53 – It was so fun to have Nick Loper,
    0:57:57 one of my first ever guests back on the show.
    0:58:00 And it just reminds me how far this podcast has come
    0:58:02 in the past six and a half years.
    0:58:05 And it’s crazy to even think that it’s been so long.
    0:58:07 I started this podcast as a side hustle.
    0:58:10 And for two years, I would work on it
    0:58:12 early in the morning before work,
    0:58:15 late at night when I got home.
    0:58:16 I was working in corporate,
    0:58:19 and I would do all of my interviews at lunch.
    0:58:22 And I’d find like closets to do these interviews in
    0:58:25 at the time I didn’t have video or phone booths
    0:58:27 or I’d even drive home
    0:58:29 if it was a really big interview and drive back.
    0:58:32 And I never missed an episode in seven years.
    0:58:36 And it’s the consistency that made me successful.
    0:58:37 I’m like tearing up.
    0:58:41 It’s crazy to think how far you can go
    0:58:43 if you’re just consistent.
    0:58:45 You really can go far.
    0:58:48 Here I am almost seven years later,
    0:58:52 and I’ve got this very large podcast.
    0:58:54 I have a lot of followers, not just on Apple,
    0:58:56 but on all the different apps.
    0:58:59 I’m like a really innovative type of podcaster
    0:59:02 where I didn’t just grow on one platform.
    0:59:05 So I’m making all this sponsorship money now,
    0:59:09 and I didn’t take a podcaster payout for years.
    0:59:14 And my podcast made $100,000 last month.
    0:59:15 And that’s besides my business.
    0:59:20 I have a social media agency and a podcast network.
    0:59:24 My podcast alone made $100,000 last month.
    0:59:27 And I finally am taking my own payouts.
    0:59:30 And it’s just crazy.
    0:59:32 Like it’s crazy to think that this idea
    0:59:37 that I had seven years ago is now making $100,000 a month.
    0:59:43 And it is the main lead gen for all of my businesses.
    0:59:46 The people that come on this show become my clients.
    0:59:49 They become my social clients, my podcast clients.
    0:59:52 So the podcast has also made me a ton of money
    0:59:56 indirectly outside of sponsorships.
    0:59:58 And it’s the consistency.
    1:00:01 It’s the fact that I never missed an episode.
    1:00:02 It’s the fact that I did it
    1:00:05 even though when it was really hard and I had another job.
    1:00:07 I did it when everybody told me
    1:00:10 I was too old to start a podcast.
    1:00:11 I just did it.
    1:00:14 And I think you all can do it too.
    1:00:18 If you wanna start a side hustle, you should do it.
    1:00:20 All right, let me get myself together.
    1:00:23 Side hustles, like Nick said,
    1:00:25 have been around for as long as people
    1:00:27 have had main hustles.
    1:00:29 But the landscape of side hustles today
    1:00:31 is more varied than ever,
    1:00:33 offering so many opportunities
    1:00:36 for anyone looking to diversify their income streams.
    1:00:38 And of course, it’s really not just about income.
    1:00:40 It’s about building a new skill set,
    1:00:42 experimenting with something new on the side
    1:00:44 until you’re ready to turn your side hustle
    1:00:47 into your full-time passion.
    1:00:49 And if you dig that well before you’re thirsty,
    1:00:52 then you can avoid a lot of headaches.
    1:00:54 Like Nick said, if an entrepreneur is somebody
    1:00:57 who jumps off a cliff and builds an airplane
    1:00:59 on the way down, a good side hustle
    1:01:01 can reduce the height of that cliff
    1:01:05 or the difficulty of building that airplane.
    1:01:07 You just need to find your niche.
    1:01:09 And you can find some quite profitable ones
    1:01:12 in unexpected places like designing websites
    1:01:14 for pressure washing businesses.
    1:01:16 Now, I wouldn’t go that niche.
    1:01:18 I think that you’ll have more success
    1:01:20 being a little bit more broader,
    1:01:24 just designing websites for businesses in general.
    1:01:26 Or perhaps your niche is selling shovels
    1:01:31 to gold seekers, like providing editing services for podcasts.
    1:01:33 It’s such a hot area right now.
    1:01:36 You got to just attach to what’s hot.
    1:01:39 Or maybe your side hustle is building an audience
    1:01:41 for your own content and business.
    1:01:44 And then you can sell that audience whatever you want
    1:01:46 as you evolve over time.
    1:01:48 And so many of these side hustles
    1:01:50 have little or no barriers to entry,
    1:01:54 but you do need to carve out the time to make it happen.
    1:01:56 Even if it’s just 30 minutes in the morning
    1:01:58 or before you go to bed,
    1:02:00 you need that consistency to build momentum
    1:02:02 and boost motivation.
    1:02:07 Obviously, you can’t spell side hustle without the hustle.
    1:02:08 Thanks for listening to this episode
    1:02:10 of Young and Profiting Podcast
    1:02:13 and making this podcast one of your side ventures.
    1:02:14 If you know somebody who’d like
    1:02:16 to improve their side hustle game,
    1:02:17 then share this episode with them,
    1:02:20 spread this podcast by word of mouth.
    1:02:21 And if you listened, learned and profited
    1:02:24 from this conversation with the hustling Nick Loper,
    1:02:27 then please take a couple minutes to drop us
    1:02:30 a five star review on Apple Podcasts, Spotify
    1:02:32 or wherever you listen to your podcast.
    1:02:36 Now I mean it when I say I’m literally obsessed
    1:02:38 with reading your reviews.
    1:02:41 This is a podcast where I’m talking to you,
    1:02:43 but I can’t hear what you’re saying back to me.
    1:02:47 And your reviews are the way that you give me that feedback.
    1:02:49 And plus, I love hearing from you guys.
    1:02:52 I work really hard on this show.
    1:02:53 I do the work.
    1:02:54 I’ve got a business that’s about
    1:02:57 to make eight figures next year.
    1:03:02 And I’m a busy girl, but I make sure that I read the book.
    1:03:05 I study, I have good questions
    1:03:08 and I’m prepared to make this hour as valuable as possible.
    1:03:10 It’s not normal to have as many five star reviews
    1:03:12 as we do on the podcast.
    1:03:15 And it really helps other people start listening
    1:03:17 and it just supports the show overall.
    1:03:21 We’ve got a big team and your reviews help support us.
    1:03:23 So please, if you enjoy the show,
    1:03:26 you listen and you listen every week.
    1:03:28 You listen every morning while you’re on the gym,
    1:03:29 while you’re on a walk.
    1:03:31 Take a couple of minutes right as a review.
    1:03:33 Let me know when you listen to it.
    1:03:35 How do you listen to this podcast?
    1:03:36 What does it make you feel?
    1:03:37 How does it motivate you?
    1:03:38 Tell me.
    1:03:40 I wanna hear it in the review.
    1:03:42 I get so motivated from these reviews
    1:03:44 to do a better job for everyone.
    1:03:47 So please make my day, write a review.
    1:03:50 And if you prefer to watch your podcasts as videos,
    1:03:53 all of our episodes are uploaded to YouTube.
    1:03:56 In fact, I just interviewed Mel Robbins.
    1:03:59 Yes, the Mel Robbins in person.
    1:04:01 And it’s gonna be on YouTube soon.
    1:04:03 So make sure you go to YouTube, subscribe.
    1:04:05 I’ve got an interview with Gary Vee on there in person.
    1:04:07 And I’m starting to do a lot more in person content.
    1:04:11 And it’s so funny because it seems like the bigger the guests
    1:04:13 are more likely now that I’ll be interviewing them
    1:04:16 in person, which is so awesome.
    1:04:19 But it’s been such a great learning experience
    1:04:21 because virtually I don’t think I get that nervous
    1:04:23 but meeting somebody in person,
    1:04:25 you get a lot more nervous, but it’s great.
    1:04:26 It’s a challenge for me.
    1:04:27 I love it.
    1:04:29 And I think I’m still doing a great job
    1:04:30 and I can’t wait to get better.
    1:04:34 So we’ve got in-person interviews on YouTube now.
    1:04:35 Check them out.
    1:04:38 And of course, if you wanna find me on social media,
    1:04:41 it’s Instagram @yappwithhala or LinkedIn
    1:04:44 by searching my name, it’s Halataha.
    1:04:48 And finally, I’ve gotta thank my fabulous YAP media team
    1:04:51 who make this production possible.
    1:04:54 Oh my gosh, guys, it takes a village to put on the show.
    1:04:56 We’ve got Paul, who’s our assistant producer now.
    1:04:58 He just got promoted from the YouTube team.
    1:04:59 He’s been with us for years.
    1:05:01 He is amazing.
    1:05:04 And I’m so proud of him and excited for him
    1:05:06 to take on this role.
    1:05:07 And he helps me so much.
    1:05:09 So shout out to Paul.
    1:05:12 Shout out to Sean for being like the best researcher
    1:05:15 in the world, Greta for supporting him.
    1:05:17 And Paul for again, supporting him.
    1:05:19 Shout out to Christina.
    1:05:21 Shout out to Furkan and Hisham
    1:05:24 for booking the most incredible guests all the time.
    1:05:27 I also wanna shout Maxi, Raven, Zoe.
    1:05:30 Thank you guys for all that you do.
    1:05:33 I couldn’t do this without you.
    1:05:36 It clearly takes an army to put on this show.
    1:05:38 Like I said before, it’s no joke.
    1:05:40 We work hard here at YAP.
    1:05:43 This is your host, Halataha, AKA the podcast princess,
    1:05:45 signing off.
    1:05:47 (upbeat music)
    1:05:50 (upbeat music)
    1:05:53 (upbeat music)
    1:05:55 (upbeat music)
    1:05:58 (door creaks)
    1:06:07 [BLANK_AUDIO]

    From launching a comparison shopping site for shoes to creating a directory of virtual assistants, Nick Loper is the king of side hustles. Although he started out during the early days of the internet, when there were fewer resources and less user-friendly tools, he figured it out and kept experimenting. Nick tried many different side hustles, earning lessons from each one and refining his approach. Eventually, he created Side Hustle Nation, his hugely successful platform for empowering aspiring entrepreneurs to build profitable side hustles. In this episode, Nick and Hala discuss how to create and execute a successful side hustle, no matter your skill set.

    In this episode, Hala and Nick will discuss: 

    (00:00) Introduction

    (02:04) The Rise of Side Hustles

    (04:20) Nick’s First Side Hustle Experiments

    (06:32) Making Money from Podcasting

    (10:38) Why Everyone Needs a Side Hustle

    (13:49) Thriving in a Recession with Side Hustles

    (20:11) Is AI the Future of Side Hustles?

    (24:04) Launching a Service Business

    (27:57) Turning Ideas into Products

    (30:05) Does Dropshipping Still Work?

    (32:01) Real-Life Side Hustle Scenarios

    (43:06) No-Skill Hustles That Actually Work

    (49:02) How to Track Your Profitability

    Nick Loper is the founder of Side Hustle Nation and the host of The Side Hustle Show, one of the top podcasts for entrepreneurs. His journey started while juggling a corporate job and building a footwear comparison shopping site on the side, which eventually led him to full-time entrepreneurship. Nick is the author of bestselling books like Buy Buttons and $1,000 100 Ways, offering actionable insights into building sustainable income streams. His work has been featured in Forbes, CNBC, and Entrepreneur, and his Side Hustle Nation community is a hub for thousands of hustlers worldwide. 

    Connect with Nick:

    Website: sidehustlenation.com

    LinkedIn: linkedin.com/in/nickloper 

    Twitter: x.com/nickloper 

    Instagram: instagram.com/nloper

    Sponsored By:

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    Resources Mentioned:

    Nick’s Podcast, The Side Hustle Show: https://podcasts.apple.com/us/podcast/the-side-hustle-show/id655135292 

    Top Tools and Products of the Month: youngandprofiting.com/deals

    More About Young and Profiting

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    Get Sponsorship Deals – youngandprofiting.com/sponsorships

    Leave a Review –  ratethispodcast.com/yap

    Watch Videos – youtube.com/c/YoungandProfiting

     

    Follow Hala Taha

    LinkedIn – linkedin.com/in/htaha/

    Instagram – instagram.com/yapwithhala/

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  • YAPClassic: Dr. Jeff Spencer, Ultimate Goal Setting to Win Big

    AI transcript
    0:00:02 Today’s episode is sponsored in part
    0:00:04 by Rakuten, Mint Mobile, Working Genius,
    0:00:07 Indeed, Found, Airbnb, and Shopify.
    0:00:10 Get cash back on every purchase with Rakuten,
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    0:00:18 or get the Rakuten app to start saving today.
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    0:00:23 Get your new three month premium wireless plan
    0:00:27 for just 15 bucks a month at mintmobile.com/profiting.
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    0:00:31 with Working Genius.
    0:00:35 Get 20% off the $25 Working Genius Assessment
    0:00:38 at workinggenius.com with code profiting@checkout.
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    0:00:46 Get a $75 sponsored job credit at indeed.com/profiting.
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    0:00:54 all in one place and was created for busy entrepreneurs.
    0:00:58 Try Found for free at found.com/profiting.
    0:01:00 Hosting on Airbnb has never been easier
    0:01:03 with Airbnb’s new co-host network.
    0:01:06 Find yourself a co-host at Airbnb.com/host.
    0:01:09 Shopify is the global commerce platform
    0:01:11 that helps you grow your business.
    0:01:13 Sign up for a $1 per month trial period
    0:01:16 at Shopify.com/profiting.
    0:01:18 As always, you can find all of our incredible deals
    0:01:22 in the show notes or at youngimprofiting.com/deals.
    0:01:26 (gentle music)
    0:01:35 – Hello, Yap Fam.
    0:01:38 We’ve got another fantastic Yap Classic episode
    0:01:40 about to come your way.
    0:01:43 Do you set goals and struggle to achieve them?
    0:01:45 Would you like to hear more about how big names
    0:01:48 like Tiger Woods, Oprah Winfrey, and Richard Branson
    0:01:49 achieve their goals?
    0:01:52 Well, lucky for you, I had an epic conversation
    0:01:57 about this back in episode 179 with Dr. Jeff Spencer,
    0:02:00 one of the world’s leading experts on elite performance.
    0:02:03 Jeff is a former Olympic cyclist and a life coach
    0:02:05 whose nickname is the Corner Man,
    0:02:08 because he’s well known for working with famous athletes,
    0:02:11 leaders, and CEOs to level up their performance.
    0:02:14 Jeff likes to say that success is not just about talent.
    0:02:16 It is both a path and a process.
    0:02:18 And there are patterns and steps
    0:02:20 that all successful people take.
    0:02:22 In this episode, Jeff and I talk about his framework
    0:02:24 of the champion’s blueprint
    0:02:26 and how you can learn to hyper focus on your goals
    0:02:30 and get better at identifying your blind spots
    0:02:32 and how elite preparation can help you win
    0:02:34 before you even start.
    0:02:36 So pull up a chair, hop on that treadmill,
    0:02:38 or just kick back and get ready
    0:02:41 to unlock your inner champion with Dr. Jeff Spencer.
    0:02:48 Hey, Jeff, welcome to Young and Profiting Podcast.
    0:02:49 – Well, thank you.
    0:02:50 What a pleasure to be here.
    0:02:53 I am so excited for this conversation.
    0:02:54 You are a former Olympian,
    0:02:56 and over the course of the last 40 years,
    0:02:59 you have coached, mentored, and been the Corner Man
    0:03:00 to some of the world’s highest achievers
    0:03:02 in business, sports, and athletics.
    0:03:04 You’ve coached many of the former guests
    0:03:05 that I’ve had on the show,
    0:03:07 like Dave Asprey, Chris Voss, Jim Quick,
    0:03:08 just to name a few.
    0:03:10 And I do want to get into the tools
    0:03:12 and the tricks of the trade that you use
    0:03:15 to help winners get to the top and stay on top.
    0:03:16 But before we do that,
    0:03:18 I did want to learn more about your personal journey.
    0:03:20 So let’s go back to when you were seven years old.
    0:03:23 You had a natural talent for riding a bike,
    0:03:25 and you knew you were gonna be an Olympian.
    0:03:28 And by age 11, you made a deal with yourself
    0:03:30 that you would work for the next 10 years
    0:03:33 to accomplish the goal of being an Olympic cyclist.
    0:03:35 You ended up achieving your goal at age 21
    0:03:38 when you competed in the 1972 Olympics,
    0:03:40 but it was totally against all the odds
    0:03:41 because you grew up pretty poor,
    0:03:44 and most Olympic athletes have financial support
    0:03:45 to fund their dreams.
    0:03:48 So take us back to your teenage years.
    0:03:48 What were you like?
    0:03:51 How did you stay on track with your lofty goal,
    0:03:53 and what inspiring stories can you share
    0:03:55 about accomplishing your Olympic goals?
    0:03:57 – Well, first and foremost, I got the self-start gene.
    0:03:59 I don’t need any motivation whatsoever.
    0:04:02 I just get up and I make things happen,
    0:04:04 and I show up every day and I faithfully execute
    0:04:05 the one or two things that have to go right
    0:04:07 to move me forward.
    0:04:09 And that’s the way that I’ve always done it,
    0:04:11 and it’s always served me really well.
    0:04:14 So that would be, first and foremost,
    0:04:16 the other side of this as well is that,
    0:04:19 I had three amazing angels in my life
    0:04:22 that made up for the lack of mentorship that I got at home
    0:04:25 because my father was virtually a non-entity.
    0:04:27 The S was my mother.
    0:04:29 They certainly didn’t get in my way,
    0:04:31 but they were not there to support me.
    0:04:34 So I was really lucky I had an amazing cycling coach
    0:04:37 that actually chose me to be able to train with his group
    0:04:41 of Olympic champions and world champions.
    0:04:43 And I was like 11, and they were like
    0:04:45 in their mid to late 20s.
    0:04:47 I mean, they were the top of the pile.
    0:04:50 And he said, you know, winning is a learned skill,
    0:04:51 and I want to teach you that skill.
    0:04:54 And I want you to be around the conversation
    0:04:55 you need to listen to now,
    0:04:57 so you know exactly what it’s like.
    0:05:00 And if you have it within you to be able to become this,
    0:05:02 then our conversation will awaken something
    0:05:05 that’s already within you to be able to make that happen.
    0:05:07 You know, which it did, you know, 10 years later,
    0:05:09 I just had amazing mentorship,
    0:05:11 and I had people say the right thing at the right time
    0:05:14 to naturally harness my abilities
    0:05:17 to be able to manifest that first and foremost goal of mine.
    0:05:18 – That’s super cool.
    0:05:20 Why do you think they saw so much potential on you?
    0:05:22 I mean, you were just 11 years old.
    0:05:24 Did you have great natural ability?
    0:05:26 Was it just your mindset?
    0:05:28 Why did they take a liking to you, you think?
    0:05:30 – I think it was everything actually,
    0:05:31 ’cause I was a self-starter.
    0:05:32 I’d show up on time.
    0:05:34 I didn’t need to be told anything.
    0:05:36 I would always show up, you know, well-prepared.
    0:05:38 I would work really hard.
    0:05:40 I would ask really good questions.
    0:05:42 I was always respectful of the opportunities
    0:05:44 in front of me.
    0:05:47 And also I did have the physical ability to do this.
    0:05:50 You know, there has to be a blend of mentality,
    0:05:53 being able to stand in front of leadership,
    0:05:56 to be able to take constructive criticism and advice,
    0:05:58 to be a student of the discipline.
    0:06:00 All of those things I naturally had,
    0:06:03 and that endeared them to me,
    0:06:06 to be able to share with me what the secrets that they used
    0:06:08 to become the standout performers that they were,
    0:06:11 and I deeply appreciate their acknowledgement
    0:06:13 of that within me.
    0:06:15 – Yeah, so something that I wanna touch on
    0:06:17 is the fact that you grew up pretty poor,
    0:06:19 and that must have been difficult
    0:06:20 when you were trying to accomplish this goal,
    0:06:24 because I could imagine that it costs money to fly places,
    0:06:27 it costs money to stay at hotels if you’re competing.
    0:06:29 So talk to us about how you kind of scrapped through,
    0:06:32 even though you didn’t have the financial means.
    0:06:33 – Well, I never saw that as a limitation.
    0:06:36 I actually saw that as an opportunity and a strength,
    0:06:39 because I saw the other people put way too much confidence
    0:06:42 in their equipment, staying in the best hotels.
    0:06:44 You don’t need a four season to become an Olympian.
    0:06:46 You can sleep anywhere.
    0:06:47 You just have to decide you’re gonna show up
    0:06:48 and get the job done.
    0:06:52 So I actually felt that I had a huge advantage
    0:06:55 in not having the financial means
    0:06:57 to do what other people did.
    0:06:58 I was able to find a way forward,
    0:07:03 and because of my natural verve and my natural enthusiasm,
    0:07:06 people were really willing to be able to support me
    0:07:08 in ways that I couldn’t support myself.
    0:07:11 – Yeah, so I read that you actually had two mentors
    0:07:12 when you were growing up.
    0:07:14 So the first one was your cycling mentor,
    0:07:16 and he helped you become an Olympian.
    0:07:18 And you also had a second mentor,
    0:07:20 which was sort of like a Renaissance man
    0:07:22 that you met when you were 18.
    0:07:25 So tell us about the later mentor that you met
    0:07:28 who was more of a Renaissance man and what he taught you.
    0:07:31 – Well, I met him through a very interesting series
    0:07:33 of coincidences, ha ha.
    0:07:34 I think it was very deliberate,
    0:07:35 and it was Providence actually.
    0:07:39 And he chose me, I was an athlete.
    0:07:41 First and foremost, I had Olympic ambitions.
    0:07:44 I was well on my way to becoming an Olympian.
    0:07:46 And he chose me to be his apprentice
    0:07:49 because he developed a whole new type of art glass sculptor,
    0:07:52 but he hadn’t found anybody that he felt
    0:07:55 that could be trusted with supporting him
    0:07:59 and creating his masterpieces, but he chose me.
    0:08:01 And it wasn’t because of my artistic ability,
    0:08:02 but I did have a lot of artistic ability
    0:08:05 because of my father and my mother
    0:08:06 who were both extraordinarily creative.
    0:08:10 But the most important thing that that mentor showed me,
    0:08:13 he was 76 and I was 18 at the time.
    0:08:16 So it was a very unlikely pairing,
    0:08:19 but during our lunches and during our breaks,
    0:08:22 what he would do, he would read poetry to me.
    0:08:25 He would read The Great Philosophers.
    0:08:29 He would share with me classical music.
    0:08:35 He said, “I need to fill you up on these other aspects of life.”
    0:08:38 And he was correct because I had the ability
    0:08:40 to be able to absorb that.
    0:08:43 And because he brought the heart and soul
    0:08:45 to my athletic prowess,
    0:08:48 I now had these two other assets
    0:08:53 that just made me a better performer in every way possible.
    0:08:58 So that was the incredible brilliance and opportunity
    0:09:01 that he brought to me, the finer points in life
    0:09:04 that I certainly did not have access to otherwise.
    0:09:07 – Yeah, well, that’s super inspiring.
    0:09:09 So today you are one of the most prominent mentors
    0:09:10 in the world.
    0:09:12 So you’ve coached greats like Tiger Woods,
    0:09:15 Richard Branson, and you’ve been lovingly dubbed
    0:09:16 the corner man.
    0:09:19 So I’d love to understand how you got that name
    0:09:20 and tell us a bit about the work
    0:09:22 that you do with your clients.
    0:09:23 – Well, I didn’t actually choose that word
    0:09:25 that kind of the word chose me
    0:09:27 through what other people said about me.
    0:09:31 And the genesis of that is, you know, the Rocky movie.
    0:09:34 And, you know, Rocky was someone that had talent
    0:09:38 and ambition, had capacity to be able
    0:09:39 to become the perennial champion of the world,
    0:09:41 but he couldn’t take himself there.
    0:09:44 And there’s all sorts of different advisors.
    0:09:46 You have coaches, like when they work with you too,
    0:09:48 Bono had his voice coach,
    0:09:50 but the voice coach didn’t know about the rest of his life.
    0:09:52 So it was like, well, I hope the rest of your life
    0:09:55 doesn’t get in the way of my voice coaching
    0:09:56 because I know I could do my part well,
    0:09:57 but I don’t know about the rest of it.
    0:10:00 And so it’s very similar also with mentors.
    0:10:02 You can have like a life mentor,
    0:10:04 you can have a business mentor,
    0:10:07 but they don’t know about a certain percentage of your life.
    0:10:12 And to me, what Rocky had was the old guy Mickey
    0:10:15 in his corner that had seen everything.
    0:10:17 And it helped people in many different areas
    0:10:19 become their own champions.
    0:10:23 And that’s what I and why people call me the corner man
    0:10:26 because of my experience, my age,
    0:10:27 where I’ve been, what I’ve accomplished.
    0:10:29 There’s nothing that I have not seen in life
    0:10:31 and there’s nothing that I haven’t participated in
    0:10:34 or guided people through at the highest level of performance.
    0:10:36 And so therefore,
    0:10:38 I have a basic competency in virtually everything.
    0:10:41 So I can meet people exactly where they are.
    0:10:43 And because of that totality,
    0:10:46 I can select what has to go right when
    0:10:48 to be able to get the most progress
    0:10:51 with the least of time and effort and expense
    0:10:52 to move as quickly as possible
    0:10:55 towards any and every ambition that a person has.
    0:10:58 And that’s why they call me the corner man
    0:11:01 because it’s the rarest of all advisory species.
    0:11:04 I love that, I love that nickname.
    0:11:08 And so you were really big at coaching sports people,
    0:11:09 I think, at first.
    0:11:11 And then you moved into business.
    0:11:13 I guess my question is what is the crossover
    0:11:17 between what you learned as an Olympian and business,
    0:11:19 which is what you focus on a lot now?
    0:11:21 Well, I mean, you have to be your own champion
    0:11:24 of both of those and becoming your own champion.
    0:11:27 It’s a presence of being, it’s not a technical difference.
    0:11:30 So whether it’s locker room or board room,
    0:11:32 there are technical differences,
    0:11:36 but yet the us, the champion that needs to show up
    0:11:38 and make really good decisions consistently
    0:11:42 to make sure that we get ourselves into the winter circle,
    0:11:43 that remains consistent.
    0:11:46 So I don’t see that there’s any distinction whatsoever.
    0:11:48 Like for example, I don’t know what pencil sharpener to use,
    0:11:50 but we can find an expert to tell us that.
    0:11:52 But I can tell you about you,
    0:11:55 the leader of your own life, CEO of you Inc.
    0:11:56 What it is that you need to do
    0:11:59 and how you need to show up to be able to manifest
    0:12:00 the things that have to go right
    0:12:04 for you to be able to evolve into and demonstrate
    0:12:05 and manifest your talents
    0:12:08 and create the legacy that you’re capable of creating.
    0:12:09 Yeah.
    0:12:12 So one of the questions that I have for you is,
    0:12:15 do you look for certain qualities in your clients?
    0:12:16 Like you were just mentioning
    0:12:18 how you were a self-starter since you were young.
    0:12:20 I am the same way.
    0:12:21 There’s different personality types.
    0:12:23 There’s people that need like accountability
    0:12:25 and there’s people who can self-start.
    0:12:27 So are there specific qualities that you look for
    0:12:29 in the people that you mentor?
    0:12:31 100%, you have to be coachable.
    0:12:34 You have to show up on time.
    0:12:36 That has to be your natural set point.
    0:12:40 You need to be able to do things that are unconventional.
    0:12:43 You have to learn to transcend your fear
    0:12:45 and the beliefs that you have
    0:12:47 that are no longer serving you well.
    0:12:49 You have to be a really great teammate.
    0:12:51 You have to be fearless about investing in yourself
    0:12:53 and your bigger future.
    0:12:57 And you have to have a certain amount of innate talent
    0:13:01 as well and you have to be able to hold reality
    0:13:03 as preeminent rather than trying to tell yourself
    0:13:05 the stories that you want to hear.
    0:13:07 You need to be able to look at what reality really is.
    0:13:09 And with all of those elements
    0:13:11 that I just described to you there,
    0:13:13 if a person has those,
    0:13:14 then it’s only a matter of time
    0:13:15 before they manifest whatever the goals
    0:13:17 that they have for themselves.
    0:13:18 Yeah, I totally agree.
    0:13:20 So I wanna switch gears a bit.
    0:13:23 I read that your dad was a genius
    0:13:25 that died homeless on the streets of New York City.
    0:13:27 And the last time you ever saw him
    0:13:28 was when you were 13 years old.
    0:13:33 So you guys obviously had a totally different type of life
    0:13:35 and made different decisions and choices.
    0:13:37 So talk to us about your father
    0:13:40 and what example that he, like,
    0:13:42 what did you learn from his story
    0:13:45 and how did you then apply that in your life?
    0:13:47 Well, at the time, it’s always a tragedy
    0:13:50 when you have a genius that can’t manifest their genius
    0:13:53 and lives the life of desperation
    0:13:56 and dies really being a statistic
    0:13:57 and an example of what you should never be
    0:13:59 and what you should never emulate.
    0:14:01 I mean, that’s tragic in and of itself.
    0:14:05 And it’s certainly a great loss to me as well.
    0:14:07 But the real take home from this
    0:14:10 is that he was missing two things.
    0:14:13 Number one, he did not have a roadmap
    0:14:15 that showed him where he was and what that meant
    0:14:20 and what to do to be able to move forward towards next.
    0:14:23 And if we don’t have that roadmap
    0:14:25 and we don’t have the second part of this,
    0:14:29 the sound counsel that can help us interpret the reality
    0:14:31 of what it is that we’re facing and considering
    0:14:34 because a lot of the things that we believe to be true aren’t
    0:14:38 and we can’t make them take us to where we want to get to
    0:14:41 by design, they can’t do that inherently anyhow.
    0:14:43 So therefore, two things.
    0:14:45 There has to be sound counsel in your life
    0:14:47 that can help shortcut your learning curve
    0:14:52 to eliminate the risk of succumbing to preventable problems
    0:14:54 but also having a state of readiness to recognize
    0:14:57 and seize opportunities that could exponentially catapult us
    0:14:59 towards our bigger future.
    0:15:03 And then there also, again, there needs to be a roadmap
    0:15:06 that can identify where we are in process
    0:15:09 so that we don’t misinterpret things
    0:15:10 as being something that they’re not.
    0:15:14 So for example, in any highly aspirational goal,
    0:15:17 there’s always a segment in the pursuit of that goal,
    0:15:19 I call the daily grind, it’s going to be hard.
    0:15:21 It’s going to be really hard.
    0:15:23 You may actually find yourself wanting to quit
    0:15:25 and you may actually unfortunately talk yourself
    0:15:27 into it one step before you have your breakthrough.
    0:15:31 But if we think that there’s not supposed to be hard
    0:15:33 because it means that there’s something wrong with us
    0:15:35 that we couldn’t make right decisions
    0:15:36 or we chose it on the other side,
    0:15:37 that’s complete mythology.
    0:15:41 But we wouldn’t know that unless we had someone
    0:15:44 that really knew what the process was
    0:15:47 because our human mindset,
    0:15:49 those things that naturally occur to us to be true,
    0:15:51 it is not always our best friend
    0:15:55 because it does oftentimes talk us into doing things
    0:15:57 based upon what we presume it to be
    0:16:00 when it’s actually not the discredits us
    0:16:04 that actually talks ourselves out of performing
    0:16:05 and playing the game that we’re capable of.
    0:16:07 He was just one of those two things.
    0:16:08 – Yeah, I love this.
    0:16:10 This is such a great transition
    0:16:11 into your champion’s blueprint.
    0:16:13 So I want to read a quote
    0:16:15 that really parlays well into what you just said.
    0:16:16 So you’ve said in the past
    0:16:19 that success doesn’t come from will, talent or tactics.
    0:16:21 The winners know something that everyone else doesn’t.
    0:16:25 They’ve discovered that success is both a path and a process.
    0:16:28 So I thought this would be a great place to start.
    0:16:32 Why is success both a path and a process?
    0:16:34 – Well, it’s actually it’s a learned behavior
    0:16:38 and all of the prolific achievers of history
    0:16:40 have always taught us what to do when
    0:16:43 if we’re a good observer of what that is.
    0:16:45 And many times what they’re suggesting
    0:16:48 is contrarian to pop culture.
    0:16:50 So for example, in pop culture,
    0:16:52 it’s like we’ll just get started, fail fast.
    0:16:54 Well, I’m not so sure you want to do that.
    0:16:57 I think there needs to be a basis of readiness
    0:17:00 that’s appropriate that reduces the risk
    0:17:01 of a premature stall.
    0:17:03 Because I mean, if you fail too fast too early,
    0:17:05 you may think you’re not capable of doing it.
    0:17:07 It’s just that you were too quick to make a judgment
    0:17:09 on something that wasn’t true.
    0:17:13 So I really feel like there’s so much mythology
    0:17:18 that surrounds the conversation of really how is it
    0:17:23 that we get from concept of greatness and manifestation
    0:17:27 to the actual three-dimension manifestation
    0:17:29 of what’s actually possible.
    0:17:32 And so the champion’s golden rule is
    0:17:34 do the homework and the test is easy.
    0:17:37 Meaning that first you prepare and then you perform.
    0:17:40 A lot of people think, most people are dismal
    0:17:41 about their preparation.
    0:17:44 They start way too fast, way too unprepared
    0:17:46 that sets themselves up for unnecessary failure
    0:17:48 or lack of confidence in self.
    0:17:50 So I feel first and foremost,
    0:17:53 we have to recognize the fact that
    0:17:56 anytime we have an ambition of any sort,
    0:17:57 the first thing you always want to make sure
    0:17:59 that you do is prepare well, don’t kid yourself.
    0:18:02 Make sure that the way that I see it
    0:18:04 and what history has revealed is that there’s five
    0:18:06 important steps that we should go through
    0:18:08 to make sure that we’re properly prepared
    0:18:10 before we even start pursuing the goal,
    0:18:12 which would be the second half of that.
    0:18:13 – Yeah, it’s funny.
    0:18:16 I’m smiling because what you said reminded me
    0:18:19 of what up-and-coming podcasters often tell me.
    0:18:21 I’ll talk to them and they’ll say,
    0:18:22 oh, well, I don’t study for interviews.
    0:18:23 I just wing it.
    0:18:26 And I’m always thinking like how do you think
    0:18:27 that that’s gonna go?
    0:18:29 Like you’re obviously not gonna be successful
    0:18:30 if you don’t prepare.
    0:18:31 – Yeah.
    0:18:34 I’m just like, well, no wonder you have 10 downloads.
    0:18:34 (laughs)
    0:18:36 – Well, you know, it’s, again,
    0:18:37 that’s part of the mythology of this.
    0:18:40 I mean, there’s so much mythology
    0:18:41 that’s around our decision-making
    0:18:42 in terms of achievement.
    0:18:45 I mean, I think it’s one of the most important
    0:18:48 disservices ever to listen to some of the advice
    0:18:50 out there because it can’t possibly take you
    0:18:53 from where you are to where you wanna get to.
    0:18:55 Just don’t say it. – Yeah, totally.
    0:18:58 Okay, so you, like I mentioned,
    0:18:59 you have this famous framework.
    0:19:01 It’s called Champions Blueprint.
    0:19:02 It has many steps.
    0:19:04 So we’re not gonna be able to cover all the steps
    0:19:06 in detail, but I am gonna highlight
    0:19:08 some of my key takeaways, some of your key principles.
    0:19:10 And it’s broken down into two parts,
    0:19:13 which you sort of alluded to, preparation and performance.
    0:19:15 You talked about the golden rule.
    0:19:17 First you prepare, then you perform.
    0:19:19 Is there anything you wanna mention at a high level
    0:19:21 before we talk about your takeaways
    0:19:24 in terms of performance versus,
    0:19:27 sorry, in terms of preparation versus performance?
    0:19:30 – No, I mean, first off, they both go hand in hand.
    0:19:33 They’re both two separate halves that can join.
    0:19:35 If you wanna be a prolific achiever
    0:19:37 and consistently achieve your highest goals,
    0:19:39 you absolutely have to follow that rule
    0:19:42 because if you cannot follow that rule,
    0:19:45 then just prepare yourself to take 10 times as long
    0:19:47 to get to where you wanna get to if you get there at all.
    0:19:49 It just isn’t gonna happen.
    0:19:53 – Yeah, okay, so in terms of the preparation section
    0:19:54 of your blueprint framework,
    0:19:56 the first step is to clarify goals
    0:19:58 that align with your body, mind and soul.
    0:20:01 So I thought this was super interesting and unique
    0:20:04 because I’ve never heard anyone bring in the soul
    0:20:06 and spirituality when it comes to goals.
    0:20:09 And I talk about goals all the time on the podcast.
    0:20:10 So let’s start there.
    0:20:14 Why do we need to make sure that our mind, body and soul
    0:20:15 is aligned with our goal?
    0:20:17 – When you have that alignment,
    0:20:21 then you have a unification self issue as an entity
    0:20:23 that has a level of belief and confidence
    0:20:27 that you absolutely must have to be able to be confident
    0:20:29 in pursuing the goals that are in front of you.
    0:20:32 And if you do not have that alignment,
    0:20:35 you’re always gonna be second guessing yourself.
    0:20:36 And if you’re second guessing yourself,
    0:20:38 you’re gonna be reluctant to make decisions
    0:20:41 promptly and accurately,
    0:20:43 you’re going to shy away from going all in
    0:20:46 when you need to go all in.
    0:20:48 You’re not gonna be conveying to other people
    0:20:50 a presence of being where they believe
    0:20:53 that you’re worthy of following or supporting
    0:20:55 to manifest your bigger future.
    0:20:56 None of that is gonna happen
    0:21:00 because that is the byproduct of making sure
    0:21:02 that we have the most important goal of all time.
    0:21:03 It’s not the smart goal.
    0:21:06 It’s not the big, hairy, audacious goal.
    0:21:08 It’s do we have the right goal?
    0:21:10 And when we do have the right goal,
    0:21:12 and there’s a very specific criteria
    0:21:15 that I use with my clients that’s very vigorous
    0:21:18 that allows us to look at number one,
    0:21:21 is this the right goal for me at this time?
    0:21:22 Yes or no?
    0:21:24 If it’s not, then you maybe don’t want to pursue it
    0:21:26 because the timing may not be correct.
    0:21:29 So I just cannot emphasize enough the importance
    0:21:32 of making sure that you select the right goal.
    0:21:34 Because when you select the right goal
    0:21:37 and you have that unification of mind, body and soul,
    0:21:41 it gives you what I call the trademark word, GOKIS.
    0:21:44 Kind of a funny word, but GOKIS means goal focus.
    0:21:47 Meaning that you have the ability to focus
    0:21:50 on the things that must go right to move your goal,
    0:21:53 ascension from where you are to where you want to get to.
    0:21:58 There must be daily progress through that level of focus.
    0:22:02 But then you must also have a peripheral awareness
    0:22:03 of what’s happening around you
    0:22:07 because you may be gifted with a better idea
    0:22:11 to adjust the trajectory of your goal to a bigger better
    0:22:13 that can be gifted to your consciousness.
    0:22:16 But if you’re too hyper focused on the action steps,
    0:22:18 you may miss that.
    0:22:19 And also in the periphery,
    0:22:22 this is where blindsides start to form.
    0:22:23 They could wipe us off the face of the earth
    0:22:26 or create an untimely stall that may end up
    0:22:29 in our inability to manifest the goal
    0:22:30 that we’re in pursuit of.
    0:22:34 So there has to be this continuous unique blend
    0:22:37 of goal focus to get stuff done
    0:22:39 with a simultaneous peripheral awareness
    0:22:42 of better options and risks that we should be avoiding.
    0:22:46 – Yeah, so you mentioned this very lightly,
    0:22:47 this concept of the right goal.
    0:22:51 So a lot of us have heard of these like smart goals, right?
    0:22:54 But you say you have a different framework for goals.
    0:22:55 It’s called the right goals.
    0:22:57 It actually stands for some things.
    0:23:02 Can you break it down what a right goal is?
    0:23:05 – Yeah, well, a right goal is a goal
    0:23:06 that aligns the mind, body and soul
    0:23:09 because it exposes itself to a variety of different questions
    0:23:12 that should be asked and answered in the affirmative
    0:23:15 if it’s the right goal to pursue.
    0:23:16 There’s all sorts of smart goals
    0:23:18 that you shouldn’t be pursuing actually.
    0:23:20 So the R in right stands for relevant.
    0:23:23 You really need to take the time to ask yourself,
    0:23:25 is this goal really relevant to me?
    0:23:27 And why is it relevant?
    0:23:29 Put the pen to the paper to be able to create
    0:23:32 a body of evidence as to why this is relevant
    0:23:36 because the relevancy creates a certain level
    0:23:39 of personal commitment and insistence
    0:23:41 that you do achieve the goal
    0:23:44 if you have confirmed it to be relevant.
    0:23:45 The next thing is indicators.
    0:23:47 The I in right is indicators.
    0:23:50 There must be adequate indicators there
    0:23:52 that assure you that the goal, again,
    0:23:54 is worth pursuing indicators.
    0:23:57 Like, do I get enough notoriety coming back from this?
    0:24:01 Does this give me enough credibility?
    0:24:04 Does this provide the income that I need
    0:24:05 for me to be able to pursue this?
    0:24:09 So there’s a number of indicators that we do need to name,
    0:24:12 that we do need to hold accountability for.
    0:24:14 Because again, when we have vetted this
    0:24:17 through a purposeful process,
    0:24:19 then it allows us to have a different type
    0:24:21 of relationship to our goal.
    0:24:23 I think people have way too casual
    0:24:25 a relationship with their goal.
    0:24:26 They’re not in love with it.
    0:24:29 They’re not gonna fight for it like they really should.
    0:24:32 The G in right stands for gravity.
    0:24:35 I mean, what is the emotional gravity and grit
    0:24:38 that the achievement of this goal avails you of?
    0:24:40 What are you gonna say about yourself
    0:24:41 once you’ve achieved this goal?
    0:24:43 Are you gonna have a greater trust in your ability
    0:24:46 to be a manifestor of what your talents are
    0:24:49 and your ability to contribute to humanity?
    0:24:51 Well, if it brings out level of gravity
    0:24:52 and it gives you that type of grit,
    0:24:55 well, I certainly think that it’s a goal worth pursuing.
    0:24:59 The H in right stands for humanity.
    0:25:02 I think personally that our goals need to have
    0:25:06 a big slice of humanity attached to it.
    0:25:10 Like, how is this actually impacting people, places
    0:25:13 and things on this planet like right now?
    0:25:16 Because if that isn’t answered in the affirmative,
    0:25:20 then we just kind of don’t have that level of commitment
    0:25:22 that’s necessary to stay in the game
    0:25:24 and keep pushing when the goal gets tough.
    0:25:26 And every goal is gonna get tough.
    0:25:28 And there have to be certain things that are there
    0:25:31 that allow us to stay in the game to move beyond that.
    0:25:36 And that’s why the idea of grit is extremely important.
    0:25:41 The H is and humanity, why humanity is really important.
    0:25:43 And then the T in right is time.
    0:25:45 Is this the right time to be pursuing the goal?
    0:25:46 Yes or no?
    0:25:48 Do you actually have the time to pursue the goal?
    0:25:49 Yes or no?
    0:25:51 Does the time from where you are to goal completion
    0:25:52 suit your sensibility?
    0:25:53 Yes or no?
    0:25:57 And if you’ve deliberately taken the time to scrutinize
    0:26:00 the goal that you’re proposing to pursue
    0:26:02 through that line of questioning,
    0:26:05 and you’ve answered this in the affirmative,
    0:26:08 then you have a level of commitment with itself
    0:26:11 that will absolutely 100% guarantee
    0:26:14 that you will find yourself in that winner circle.
    0:26:17 Yeah, I really like that framework
    0:26:19 because I feel like it really makes sure
    0:26:20 that you stay motivated.
    0:26:23 You kind of crossed off anything that could deter you
    0:26:26 or cause you to quit or something midway.
    0:26:29 So I think that is a great framework to follow.
    0:26:32 Let’s hold that thought
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    0:31:08 So let’s talk about the need to be super clear
    0:31:10 with our goals, because a lot of people
    0:31:13 have very wishy-washy goals, they’re vague,
    0:31:14 they’re more like dreams.
    0:31:16 So maybe you can walk us through examples
    0:31:20 of what a good goal is versus one that’s not so clear.
    0:31:23 Well, I think the goal clarity goes back
    0:31:25 going through the right goal criteria.
    0:31:28 Because if you’re answering in the affirmative,
    0:31:30 all of those, because you’re taking the time
    0:31:33 to really answer the questions,
    0:31:37 as they’re intentionally provocative to hold you accountable
    0:31:40 for being able to stand behind what you’re proposing to do.
    0:31:42 And as I said earlier, I think a lot of people
    0:31:43 are way too casual.
    0:31:46 They look at the goal as the giver of something
    0:31:48 to me later, like the home, the house, the security,
    0:31:49 or whatever.
    0:31:54 But it has to be more than that to be able to stay in the game
    0:31:58 and to be able to stay in belief and to stay in commitment
    0:32:02 when the inevitable challenges always surface within a goal.
    0:32:05 And if you do not have that, then you cannot have
    0:32:08 and do not have the conviction necessary to do it.
    0:32:10 It has to go right in critical moments
    0:32:11 where you may be doubting yourself
    0:32:13 or even questioning whether you should continue
    0:32:15 to pursue the goal itself.
    0:32:19 – Yeah, and previously, Jeff, you were mentioning
    0:32:21 how you need to have peripheral vision.
    0:32:22 You need to be aware of your surroundings.
    0:32:25 You need to be aware of the different risks
    0:32:25 that are going on.
    0:32:28 So talk to us about the importance of knowing the risks
    0:32:32 or potential blind spots associated with our goals.
    0:32:34 – Well, the blind spots are things that we cannot outrun
    0:32:35 and every one of us has got them.
    0:32:37 I can only tell you that.
    0:32:40 And that’s why I feel like there’s an important space
    0:32:45 to be held for some corner man type of accessibility
    0:32:49 to make sure that we’re seeing everything that we need
    0:32:52 to see without the presumption that we know everything
    0:32:54 because that’s a catastrophic perspective
    0:32:58 that unfortunately is taking a lot of people
    0:33:02 unfortunately out of the game that they could have won.
    0:33:06 Had they had the insight to see what their liabilities
    0:33:09 and their risks are, and a point I want to make here
    0:33:13 is that no prolific achiever in any discipline
    0:33:16 does not look at it through the eyes of what can go right,
    0:33:18 what can go wrong, what are the probabilities?
    0:33:21 And there’s a certain category of person that feels,
    0:33:24 well, you know, if I cast doubt on this,
    0:33:27 then I’m drawing doubt into reality.
    0:33:29 And therefore I’m shortcutting myself
    0:33:31 when I should not be thinking about anything
    0:33:34 that could be adversarial to me in this process.
    0:33:37 And I can tell you that is absolutely unadulterated garbage.
    0:33:40 I don’t know anybody that’s a prolific achiever
    0:33:45 that does not always take a full and thorough inventory
    0:33:49 of what the probability of risks are
    0:33:51 so that they leverage themselves against success.
    0:33:54 They don’t deleverage themselves in favor of failure.
    0:33:57 I’ve never seen that complete mythology.
    0:33:59 – Yeah, and it’s interesting that you say that
    0:34:00 because like you said,
    0:34:03 some people think that they can only think positive.
    0:34:03 – Correct.
    0:34:06 – And if they go and think about the different ways
    0:34:07 that things could go wrong,
    0:34:08 they think that that’s negative thinking,
    0:34:11 but that’s really just preparing.
    0:34:13 And it doesn’t mean that you are a negative thinker.
    0:34:15 It just means that you’re preparing ahead
    0:34:18 and you can be positive
    0:34:20 because you’re thinking of the solutions ahead of time
    0:34:23 so that if you hit that obstacle in the moment,
    0:34:24 you’ll know what to do.
    0:34:25 Can you talk to us more about that,
    0:34:27 about what kind of mindset you need to have
    0:34:30 through all of this and how, you know,
    0:34:34 thinking of potential risk is not actually negative thinking?
    0:34:37 – I would first, I would say let’s not use the word mindset
    0:34:40 because mindset makes it sound like there’s a rigid set
    0:34:43 of things that if applied guarantee an outcome,
    0:34:45 that’s not true.
    0:34:47 That’s like, oh, I’ll just think good thoughts
    0:34:49 and somehow everything will backfill and manifest.
    0:34:50 That’s not true.
    0:34:52 It’s all about actions and the things that are done.
    0:34:54 So I kind of look at this through the eyes
    0:34:56 of the champion’s mind,
    0:34:58 meaning the champions have a mind,
    0:35:01 meaning that the mind is like a three-dimensional entity
    0:35:05 that has the capacity to look at, think, evaluate,
    0:35:10 collate, transmit, share, and store information
    0:35:13 in a very thoughtful way that represents reality.
    0:35:16 And that’s the way that all the prolific achievers do it.
    0:35:19 They look at the way that I advance things forward
    0:35:21 is not a way of thinking.
    0:35:23 We’re taking action on the evidence
    0:35:27 that we see in front of us that history has informed us
    0:35:30 that if we execute this, then it will take us here.
    0:35:32 I think that’s the most important thing.
    0:35:35 We begin to forget that aspirational achievement,
    0:35:39 it’s actually a verb, it’s not a passive noun.
    0:35:42 It’s a presence of being, it’s the actions that are taken.
    0:35:45 Therefore, I just suggest that we take the time
    0:35:50 to really look at the relevance and the sources
    0:35:54 that we refer to to get our information
    0:35:56 about what it is that we should be doing.
    0:35:59 Because at many times, what we think it is
    0:36:00 is not what it is at all.
    0:36:02 But it sounds good to our human mindset.
    0:36:05 It’s touchy, feeling nice, but historically,
    0:36:09 it can’t necessarily deliver on what we hope it to be.
    0:36:12 And that again, why I feel it’s really important
    0:36:17 that we have the right level of corner man influence
    0:36:20 as we’re learning the process of achievement,
    0:36:22 which is actually, it’s a learned skill.
    0:36:24 It’s not something that we’re born with.
    0:36:26 – Yeah, so as we’re trying to determine
    0:36:28 all the different risks with our goals,
    0:36:31 what are the questions that we should ask ourselves
    0:36:33 or ask our mentors in order to find out
    0:36:35 what those risks could possibly be?
    0:36:38 – Well, I think there’s a set of things
    0:36:40 that we should be looking at.
    0:36:42 Number one, given an opportunity, you have to look at,
    0:36:45 well, how are you perceiving the opportunity?
    0:36:49 Are you looking at it based upon what you believe
    0:36:50 you stand to lose?
    0:36:53 Well, and if that’s the way you’re doing it, don’t do it.
    0:36:55 Because that’s not gonna take you
    0:36:57 to where you wanna get to.
    0:37:01 There has to be a vision of what the outcome
    0:37:03 of the manifest goal will represent
    0:37:07 to not only us, the individual, but our legacy.
    0:37:11 And also what this will say and mean to other people
    0:37:14 viewing it and what the impact on humanity
    0:37:16 in the planet at large will have.
    0:37:20 I do feel that we need to look at that in advance
    0:37:24 to measure the probability of how that might be answered
    0:37:25 with our achieved goal.
    0:37:26 I think that that’s really important.
    0:37:30 The other thing I would say is that don’t try to be perfect.
    0:37:32 Perfect doesn’t get you to where you wanna get to
    0:37:33 because then you’re obsessing
    0:37:35 on all the things that could go wrong,
    0:37:36 where it shouldn’t be that.
    0:37:37 You should be looking at the one or two things
    0:37:41 that have to go right to keep things moving forward.
    0:37:43 I mean, that’s what the champions do.
    0:37:45 They prepare, what do I need to do right now
    0:37:48 that has to go right that everything else is dependent upon?
    0:37:51 So it becomes much simpler.
    0:37:54 I think the idea of fear also is another side to this.
    0:37:56 I mean, people think, well, I have to be fear free
    0:37:57 before I get started.
    0:37:58 Well, no, you don’t.
    0:38:01 I mean, generally anybody that has high aspirations
    0:38:02 is gonna have a certain level of fear.
    0:38:04 Like, you know, when I work with you two,
    0:38:06 and you know, before they go on stage,
    0:38:08 I mean, yeah, they all had butterflies.
    0:38:09 It’s like, well, look, Bono,
    0:38:10 you don’t need to have butterflies
    0:38:10 ’cause you’re Bono.
    0:38:11 Well, he did have them.
    0:38:13 Okay, well, he just knew what to do with it.
    0:38:15 It was a sign of biologic readiness.
    0:38:17 So a lot of how we’re interpreting our experience
    0:38:21 in my experience is that it’s not done correctly.
    0:38:25 So yeah, we should be observant of the fear
    0:38:27 but recognize it’s our friend
    0:38:32 to be able to put in our highest level of physical output.
    0:38:35 There has to be a certain level of fear present.
    0:38:37 Otherwise we’re gonna be asleep at the wheel.
    0:38:40 But we should also realize that you can apply
    0:38:42 what has to go right despite your fear.
    0:38:45 So again, that’s another point of mythology
    0:38:47 that I think that is really important
    0:38:49 to be mindful of as well.
    0:38:52 Yeah, so we’re talking a lot about being prepared.
    0:38:55 And let’s say we do all the things that you mentioned.
    0:38:56 We have really clear goals.
    0:38:59 We take a look at the different risks and the blind spots
    0:39:01 and we feel very prepared.
    0:39:03 What are the ways that some people blow it
    0:39:06 in their big moment, in that moment of reality
    0:39:08 where they should have done what they prepared for
    0:39:11 but maybe they go with their gut instinct or something.
    0:39:12 Yeah, well, I think you said it right,
    0:39:13 they go with their gut,
    0:39:15 they let their emotions take over.
    0:39:16 So they go back and they do it,
    0:39:19 didn’t work the previous 10 times,
    0:39:21 because they get afraid about executing
    0:39:22 what has to go right.
    0:39:23 I see this all the time.
    0:39:26 As a matter of fact, I have a white paper that I did
    0:39:28 when people go to my website to opt in,
    0:39:30 it’s called how not to blow it just before you win.
    0:39:33 It’s a 27 page document that I put together
    0:39:36 because it’s that important to me.
    0:39:38 They start to change everything
    0:39:40 before they execute what has to go right.
    0:39:44 So again, I feel like this can be pruned back
    0:39:46 to the simplicity of,
    0:39:47 do you know exactly the one or two things
    0:39:50 that have to go right, like right now
    0:39:52 for everything else to be able to move forward.
    0:39:54 And if you can name those two things
    0:39:56 and you know what those things are,
    0:39:57 then as you execute those,
    0:39:59 then the next things that need to be addressed
    0:40:01 will then reveal themselves.
    0:40:05 So it’s really much simpler than we make it to be,
    0:40:07 but when the fear takes over,
    0:40:10 we start to believe in what didn’t work in the past
    0:40:12 and it’s certainly not gonna work now.
    0:40:14 But we have to actually prepare ourselves
    0:40:17 by preparing through simulation,
    0:40:19 the readiness to be able to execute correctly
    0:40:20 when you have to go correct.
    0:40:22 It would be the same thing like in a podcast.
    0:40:24 I mean, you just don’t show up
    0:40:25 and turn the microphone on.
    0:40:29 I mean, there’s a very deliberate readiness process
    0:40:32 that you go through that allows you
    0:40:34 to control the pacing and the outcome.
    0:40:38 You’re not leaving this blindly up to circumstances
    0:40:41 to deliver on the highest promise possible.
    0:40:43 Just really feel like your confidence
    0:40:45 is demonstrating to yourself that you can do it
    0:40:47 because you’ve rehearsed it
    0:40:49 and then you realize when I have to execute this
    0:40:51 in real time, I’m not gonna deviate
    0:40:53 from what I know needs to go right.
    0:40:55 – Yeah, and I have to say,
    0:40:57 every time I deviate from my plan,
    0:40:59 I screw up too, it’s normal.
    0:41:00 You know what I mean?
    0:41:02 I did it a few times already on this podcast
    0:41:05 where I’m like, why didn’t I just stick to what I wrote?
    0:41:08 That’s how it goes and you live and you learn.
    0:41:10 So let’s talk about legacy.
    0:41:12 Legacy is really important
    0:41:14 and a lot of people think that legacy
    0:41:16 is something that happens after you die.
    0:41:18 And it’s just like however your life turned out,
    0:41:19 that’s your legacy.
    0:41:21 But you say that you should think about your legacy
    0:41:22 from the start.
    0:41:24 Talk to us about why that’s important.
    0:41:28 – Whether we like it or not,
    0:41:31 every one of us is gonna leave a legacy
    0:41:35 that will be available to everybody on this planet
    0:41:38 to look at and study for all of eternity,
    0:41:39 what we deal with our time
    0:41:41 and what we deal with our talents.
    0:41:43 And there are no reviews on that.
    0:41:45 Once it’s over, it’s over.
    0:41:47 And I feel like we really need to think about
    0:41:49 this idea of immortality.
    0:41:51 I know that that doesn’t occur to people,
    0:41:54 but once you get into your late 40s,
    0:41:56 you start thinking about stuff like this.
    0:42:01 But there’s something that transcends us that lives on
    0:42:04 and it will impact people.
    0:42:07 And that is what we did.
    0:42:10 Because what we did, you can’t go back and erase that.
    0:42:13 You can’t modify it at a certain point.
    0:42:16 And I really feel like at the end of the day,
    0:42:21 we should walk off the field for the final time saying,
    0:42:24 there’s nothing more that I could have possibly done
    0:42:27 in this creation to make any further contribution
    0:42:30 because I had the courage to show up
    0:42:33 and do what I was called to do faithfully.
    0:42:37 And wherever that goes, I’m okay with that.
    0:42:40 But I certainly didn’t leave anything on the field.
    0:42:42 I gave it everything that I had.
    0:42:44 And I feel that that’s a really important statement
    0:42:49 that we all have to reconcile at some point in our life
    0:42:54 generally in the second or the end of the second half here.
    0:42:57 And here’s what I would say also,
    0:43:00 is that my greatest achievement is the adoption
    0:43:04 of our daughter at the age of 10 from Columbia.
    0:43:07 We adopted a 10 year old from Columbia at the age of 10.
    0:43:10 I was 58, I was at the height of my career at that time.
    0:43:13 And I was called to make the decision
    0:43:16 that I was gonna raise our daughter.
    0:43:19 And our daughter, number one, she didn’t speak English.
    0:43:20 We didn’t speak Spanish.
    0:43:22 We had no language.
    0:43:23 She had no school.
    0:43:25 She had PTSD and ADHD from getting beaten up
    0:43:28 and worse for the first 10 years of her life.
    0:43:29 It’s your frickin’ nightmare.
    0:43:32 Every second of her life was your worst nightmare.
    0:43:37 And I chose to raise my daughter at the height of my career.
    0:43:41 And it’s like, I don’t feel like I gave anything up.
    0:43:42 People say, well, look what you gave up.
    0:43:45 No, I didn’t give up anything.
    0:43:47 Our job was to manifest our human potential,
    0:43:48 not just like to save a life.
    0:43:53 And what I did give her and what I learned from this
    0:43:58 was more worth anything that I’ve ever previously done at all
    0:44:03 because I learned that you can love anybody.
    0:44:05 You don’t need a special reason.
    0:44:07 You just show up and you do it.
    0:44:08 It isn’t a two-way street.
    0:44:10 Make it a one-way street.
    0:44:13 You give without any reciprocation
    0:44:16 or reciprocal expectation whatsoever.
    0:44:19 I also learned to trust the process.
    0:44:22 That I’m basically fearless
    0:44:24 because when we adopted her,
    0:44:26 it took everything that we had
    0:44:29 to be able to provide for the extraordinary needs
    0:44:32 that she had to give her a chance
    0:44:34 to get herself back into the game of life.
    0:44:36 And I didn’t save anything from my retirement
    0:44:40 for 10 years between 58 and 68
    0:44:42 because my commitment was to raising our daughter
    0:44:44 and do whatever was necessary.
    0:44:48 And I also realized that you always have enough energy
    0:44:50 to do anything on behalf of others.
    0:44:51 Or if you’re called into service,
    0:44:53 there’s always going to be enough energy.
    0:44:54 You know, where the energy gets sparse
    0:44:57 is where we’re doing everything in our own self-interest
    0:45:00 or we’re in such fear of loss
    0:45:03 that we kind of worry our life and our energy away.
    0:45:05 And the other thing that I will say
    0:45:09 is that if you think anything you’re saying and do
    0:45:11 as relates to this topic, a legacy,
    0:45:13 when we adopted our daughter, man,
    0:45:15 she’d never been hugged, never been loved.
    0:45:16 She used to wrap her legs around me
    0:45:19 and bury her head into my chest and I just hold her, you know?
    0:45:22 And it’s like, she hung on my every word.
    0:45:24 So what I want to say to everybody is that
    0:45:26 if you think what you do and what you say
    0:45:28 and how you show up doesn’t matter, adopt a kid.
    0:45:30 Because everything that you do in life
    0:45:32 does have some level of impact
    0:45:34 that calls people to something.
    0:45:37 And when you take the high road
    0:45:39 and you’re manifestly committed to that,
    0:45:42 where there is no negotiation on that,
    0:45:44 your life takes on an entirely different level
    0:45:46 of purpose and meaning.
    0:45:49 And the last thing I’ll say about this is that
    0:45:52 you never withhold the possibility of a miracle
    0:45:56 because that’s what it took us to be able to help our daughter
    0:46:00 get to a point to get beyond what she did not ask for in life
    0:46:05 that was imposed upon her by other people.
    0:46:08 And so that’s why legacy is important to me
    0:46:10 because at the end of the day,
    0:46:14 we do have an immortality that will be there,
    0:46:18 that will say something of tremendous value to people.
    0:46:20 But please don’t make it like my dad.
    0:46:22 My dad was the genius that could have but didn’t.
    0:46:25 And he can’t go back and redeem himself, you know?
    0:46:30 His moniker, his tagline is don’t be like me.
    0:46:32 You know, it’s tragic for me to have to say that,
    0:46:34 but you know, we do make our own choices.
    0:46:36 And you know, if we can’t do it for ourselves,
    0:46:38 let’s just make sure that we do it for other people.
    0:46:41 So other people at least have a template
    0:46:44 they can look at that’s inspirational to them
    0:46:46 to be able to step into the unknown
    0:46:47 with confidence and certainty
    0:46:50 with a certain amount of reckless abandon
    0:46:52 to what we think that we probably need,
    0:46:54 which you probably need to get rid of
    0:46:56 if you’re gonna live the greatest life possible.
    0:46:59 So that’s kind of what I would have
    0:47:01 to answer the legacy question with.
    0:47:05 – Beautiful response and what a nice story.
    0:47:06 What is the name of your daughter?
    0:47:07 What’s her name?
    0:47:09 – Ken, K-I-N.
    0:47:11 – And how old is she now?
    0:47:14 – She’ll be 24 in October.
    0:47:15 – And how’s she doing now?
    0:47:17 Just curious, like what does she have to do?
    0:47:22 – Well, again, she’s a miracle because, you know,
    0:47:26 I knew that when she graduated from college,
    0:47:27 she didn’t speak any English.
    0:47:28 We didn’t speak Spanish.
    0:47:29 There’s no language.
    0:47:30 I mean, think about that.
    0:47:33 Come to America at 10 and you don’t have any language
    0:47:34 and you don’t have any school.
    0:47:35 What are you gonna do with that?
    0:47:38 And so because she has a beautiful brain, you know,
    0:47:42 God put a beautiful brain inside of her and we saw that
    0:47:44 and we knew that our job was again
    0:47:47 to manifest the potential not to save a life
    0:47:50 that we did, you know, what we had to do
    0:47:53 so that she could live her life with the normal crap
    0:47:55 that all of us have to deal with day in and day out
    0:47:59 but find your way beyond the stuff that you didn’t ask for.
    0:48:03 And so we couldn’t be more, you know, proud of her
    0:48:05 for what she has done,
    0:48:07 but have been gifted with the opportunity
    0:48:09 to play that role in her life.
    0:48:11 – We’ll be right back
    0:48:13 after a quick break from our sponsors.
    0:48:17 Yeah, fam, if you’re anything like me,
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    0:48:22 to spend all your time managing finances,
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    0:48:28 not exactly the fun part of entrepreneurship.
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    0:48:33 but even he doesn’t wanna switch
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    0:49:52 (whooshing)
    0:49:55 – So let’s move on to the last step in preparation,
    0:49:56 which is around resources.
    0:50:00 I think this is very important and often kind of neglected.
    0:50:03 So what should we consider when we think about resources?
    0:50:05 And aside from the obvious stuff like money.
    0:50:09 – Well, resources are extraordinarily important
    0:50:12 and an inventory should be taken other resources
    0:50:14 before you actively start pursuing your goal
    0:50:17 because an adequate resource inventory
    0:50:21 is directly tied to your level of confidence.
    0:50:25 And as you’re confident and you trust in your preparation,
    0:50:27 then your anxiety drops.
    0:50:28 And as your anxiety drops,
    0:50:29 you’re gonna be a much better performer.
    0:50:32 Your timing is gonna be superior,
    0:50:35 which is what we need to be able to get
    0:50:38 our goal aspiration launched correctly
    0:50:40 to gain initial momentum,
    0:50:42 to gradually pick up the steam
    0:50:44 where we get into belief that we can actually do it,
    0:50:47 that transforms to knowing that we can do it,
    0:50:49 to being able to complete the goal itself.
    0:50:53 When I look at the resources that we need,
    0:50:57 and it doesn’t need to be enough for the entire project,
    0:51:00 it needs to be enough to get started with responsibly.
    0:51:02 So we need, what do we need?
    0:51:05 Well, we need time and energy for sure.
    0:51:08 We need, what?
    0:51:12 We need materials and supplies, absolutely.
    0:51:14 We need skills and knowledge.
    0:51:16 Yep, we also need a team.
    0:51:17 We got the right team.
    0:51:20 Yep, do we have a plan?
    0:51:24 Yep, I mean, do we have the financial resources
    0:51:27 to at least initially get this started?
    0:51:31 All of those have to be answered in the affirmative
    0:51:33 to, again, be in trust.
    0:51:37 And when we’re in trust, again, anxiety drops,
    0:51:38 confidence is up,
    0:51:40 and that’s the way that you wanna
    0:51:42 always actively start pursuing your goal.
    0:51:43 I have observed, though,
    0:51:46 that many people are extraordinarily deficient
    0:51:49 and lax in their attention to resources.
    0:51:51 They feel like, well, if I don’t get going now
    0:51:54 as quickly as possible,
    0:51:55 then it means I don’t trust the universe
    0:51:56 to provide when it should.
    0:51:59 Therefore, the universe is gonna take away from me
    0:51:59 that privilege.
    0:52:00 It’s not gonna support me
    0:52:02 ’cause I don’t have enough faith in it.
    0:52:04 Or somebody’s gonna jump in line,
    0:52:05 so I gotta get going now
    0:52:07 because I’m afraid that I’ll get pushed
    0:52:08 to the back of the line.
    0:52:09 I mean, none of that is true.
    0:52:11 That’s all mythology.
    0:52:13 But yet, that’s the way the human mindset
    0:52:14 thinks about this type of stuff
    0:52:17 because it’s basically a catastrophizer.
    0:52:22 And that’s why when we do our homework, again,
    0:52:24 do the homework first and then the test is easy,
    0:52:26 why we always wanna do that
    0:52:28 so that we can check off in trust
    0:52:30 that we have adequate resources to get started,
    0:52:32 something most people don’t do.
    0:52:34 – Yeah, and I feel like most people,
    0:52:35 especially young people,
    0:52:39 they concentrate more on getting investment and money
    0:52:43 rather than focusing on building their skills and learning.
    0:52:48 I’ve noticed this a lot with people around my age and younger.
    0:52:49 So do you wanna talk about the importance
    0:52:53 of getting skills before you start your task?
    0:52:55 – I do, it’s like I’ve always said
    0:52:59 that you can never have enough skills
    0:53:03 and you also need a lot of space to be able to create
    0:53:06 in kind of my suggestion to people is
    0:53:11 that you’re only as strong as your toolkit
    0:53:14 is of skills to be able to be applied.
    0:53:18 And you must have a minimum amount of skills
    0:53:21 that should be vetted accurately
    0:53:23 before you start pursuing your goal.
    0:53:27 You must also have adequate space and flexibility
    0:53:32 to be able to absorb some of the unanticipated consequences
    0:53:33 that always shows up.
    0:53:35 Like it always takes us twice as long
    0:53:37 and maybe costs twice as much as you think
    0:53:38 that it’s going to.
    0:53:42 And I’m just gonna suggest that you don’t try to have a budget
    0:53:44 that where everything has to go perfectly
    0:53:47 for things to go right, I don’t like that.
    0:53:49 I like the idea of some elbow room
    0:53:53 for the unanticipated things that may be arising.
    0:53:55 And as long as we kind of hold that sacred,
    0:54:00 and I will also say that there are points in our life
    0:54:03 where things are moving right along
    0:54:05 that don’t require us.
    0:54:08 I mean, I guess there’s always the opportunity
    0:54:09 to jump in and screw it up.
    0:54:11 There’s no shortage of that.
    0:54:13 But when things are going too good,
    0:54:16 sometimes I feel that’s where you wanna ride the wave
    0:54:17 and don’t try to tinker with things
    0:54:19 or push things too fast.
    0:54:21 But when you’re in that situation,
    0:54:23 kind of clean things up as much as possible,
    0:54:25 clean out your garage, throw away stuff,
    0:54:27 create space for better stuff to land
    0:54:29 because it certainly will.
    0:54:31 And if you have opportunities
    0:54:34 that wanna find their way into your life,
    0:54:35 but there’s no place to land
    0:54:37 because your life is too cluttered with junk,
    0:54:38 then it’s gonna move on.
    0:54:39 And so I’m just suggesting
    0:54:42 that you continually kind of weed the garden.
    0:54:45 You prune all the stuff that’s extraneous to your life
    0:54:48 that you don’t need so that there’s space to land
    0:54:50 and that you always be thinking about
    0:54:53 what is the skill that I need next
    0:54:55 for this forever changing world
    0:54:58 that will be capitalized on by those
    0:55:00 that have the readiness of the other stone.
    0:55:03 – I love this conversation.
    0:55:05 We’re getting so many good tips
    0:55:08 around how we can prepare for our goals.
    0:55:09 But I wanna talk about what happens
    0:55:11 when we actually start taking action.
    0:55:14 You’ve got phases like the honeymoon phase
    0:55:16 and the daily grind phase, which you mentioned earlier.
    0:55:18 Can you talk to us about the different stages
    0:55:21 of performance and what we need to know?
    0:55:25 – Yes, I feel that we need to have a clear understanding
    0:55:30 of what the different stages of progress
    0:55:33 that we will be going through
    0:55:36 from starting to pursue our goal
    0:55:39 to the achievement of our goal.
    0:55:43 The very first phase of this is what I call start.
    0:55:46 And when we get to a point
    0:55:47 where we have the preparation readiness
    0:55:50 and we know it because it’s been vetted,
    0:55:53 it’s extremely important that you have a thoroughly vetted
    0:55:56 and rehearsed starting procedure
    0:55:59 to make sure that you get out of the gate cleanly
    0:56:03 and you hit an early objective
    0:56:06 that confirms that goal progress
    0:56:08 is now up and running and underway.
    0:56:11 Like let’s say you take a horse in the Kentucky derby
    0:56:13 that’s favored to win.
    0:56:15 Well, if it trips out of the gate
    0:56:18 because it hasn’t practiced its starting procedure,
    0:56:20 then the horse that should have won gets last.
    0:56:22 And it’s exactly the same thing for us.
    0:56:26 So please make sure that you have a well-organized
    0:56:29 and rehearsed starting process
    0:56:31 that ends in a certain achievement
    0:56:34 and objective that demonstrates that goal pursuit
    0:56:38 now is actually formally up and underway.
    0:56:40 – Can you give a concrete example of that
    0:56:42 just to be super clear, yeah?
    0:56:43 – I absolutely can.
    0:56:48 So let’s say that the initiative of a goal launch
    0:56:53 would be to have our first five figure month, $10,000, right?
    0:56:55 So that’s the target.
    0:56:56 I mean, that’s not the goal,
    0:56:58 but that’s the first target
    0:57:01 because we know that if we had 10,000 a month,
    0:57:02 this is for real.
    0:57:04 It’s like we’re no longer talking about this,
    0:57:06 like this is for real.
    0:57:08 And why having that target
    0:57:12 and declaring that target in advance is important
    0:57:15 is because when you hit it,
    0:57:17 it confirms that the preparation was correct.
    0:57:19 It also confirms that the leadership
    0:57:21 that created the preparation processes
    0:57:23 were correct and should be followed.
    0:57:26 It also gives the team confidence
    0:57:28 that we can actually do this.
    0:57:32 You always wanna start off on a positive when
    0:57:34 that doesn’t need to be big
    0:57:37 that confirms that we’re actually in process
    0:57:39 and moving forward.
    0:57:42 So once we’ve hit that lift off point,
    0:57:46 then we move into what I call the honeymoon phase
    0:57:48 and the honeymoon phase is where,
    0:57:50 okay, now we hit this lift off,
    0:57:51 we have this confirmation,
    0:57:54 we’re now at 10,000 a month.
    0:57:56 This means that it’s gonna be smooth sailing
    0:57:57 to the winter circle.
    0:57:58 Well, hold on a second.
    0:57:59 It doesn’t really mean that.
    0:58:02 It means that we’ve just gotten out of the gate smoothly.
    0:58:03 And so the honeymoon phase is that
    0:58:06 when everybody’s hyper excited,
    0:58:08 then they go out and they become very sloppy
    0:58:09 and relaxed about scheduling.
    0:58:12 They don’t look at their policies.
    0:58:14 They may start overspending certain things.
    0:58:15 You see this in startups all the time
    0:58:17 where they’re not even making any money.
    0:58:18 And then they’re going out
    0:58:19 and spending all this raised money
    0:58:21 on stuff that doesn’t matter
    0:58:22 because they already think
    0:58:23 that they’re in the winter circle.
    0:58:26 So it’s a complete abuse of the honeymoon,
    0:58:29 but we know that when we’re in a honeymoon,
    0:58:32 there’s always the opportunity for reckless choices
    0:58:34 that can really hurt us.
    0:58:37 And that’s why I suggest that you just be mindful
    0:58:41 that at some point the honeymoon is gonna wear off
    0:58:42 because they all do.
    0:58:44 And when the honeymoon wears off
    0:58:48 and you feel like there’s a loss in momentum or enthusiasm,
    0:58:49 that doesn’t mean that it’s the wrong planner.
    0:58:50 You can’t do it.
    0:58:51 That’s supposed to happen.
    0:58:53 That means you’re now living in reality.
    0:58:55 It’s actually something that you actually wanna see
    0:58:58 because that level of enthusiasm cannot cure you forever.
    0:59:00 It’s not possible.
    0:59:01 So we need to be aware of that
    0:59:03 because we’re not aware that the honeymoon
    0:59:06 is supposed to wear off when the motivation drops
    0:59:08 and we all think, oh, bad plan, bad management.
    0:59:09 Maybe I should get out
    0:59:11 while I have at least some resources left.
    0:59:13 Really bad idea, misinterpretation
    0:59:16 of the circumstances completely.
    0:59:21 What I will say also is that the next phase of this,
    0:59:24 once we get beyond the honeymoon phase
    0:59:26 and we have our reality check where we reconcile things,
    0:59:28 we get things back on track,
    0:59:30 then we may think, well, okay,
    0:59:31 now we’ve made this huge correction,
    0:59:33 now I know we can do it.
    0:59:34 Well, you kind of don’t
    0:59:38 because the next thing coming is gonna be the daily grind.
    0:59:43 And this is where your plan is now facing reality
    0:59:45 for the very first time.
    0:59:47 Prior to that, it’s been a conjecture,
    0:59:50 a hypothesis or a presumption,
    0:59:52 but it’s never been fully tested.
    0:59:55 And we know that whatever the weaknesses are
    0:59:58 in our preparation will surface during the honeymoon phase.
    1:00:01 That’s what it’s for.
    1:00:03 It’s supposed to reveal to us
    1:00:05 what we don’t know that we need to know
    1:00:06 so that we can get it.
    1:00:11 It’s not a sign that we were behind or it was a bad choice,
    1:00:14 even though people will oftentimes misinterpret it
    1:00:17 as that and quit prematurely.
    1:00:20 It’s something that we have to anticipate showing up.
    1:00:23 So for example, I would say, okay, everybody,
    1:00:25 now that we’re through the honeymoon phase,
    1:00:29 I just wanna say that the daily grind is now in front of us
    1:00:32 and just know that there will be difficult moments
    1:00:34 that show up, it’s supposed to be hard.
    1:00:37 This is gonna reveal to us what we need to learn.
    1:00:38 This is our friend.
    1:00:39 I’m glad it’s here.
    1:00:42 It helps us get prepared in a way that we cannot lose,
    1:00:44 but let’s not misinterpret this as something
    1:00:47 that we did wrong or incorrectly or we can’t do it.
    1:00:52 You can see how easily people misinterpret situations
    1:00:54 unless they’re informed that this is gonna happen.
    1:00:57 So here’s the promise in the daily grind phase,
    1:01:00 if you’re looking at the right metrics
    1:01:02 and you’ve got the right plan
    1:01:04 and you got the metrics to confirm
    1:01:06 that you’re making progress, you’re gonna get up one day
    1:01:09 and you’re gonna get up and believe that you can do it.
    1:01:11 Like, you know what, I really now believe I can do it.
    1:01:13 If he can do it, then I can do it.
    1:01:14 There’s no difference.
    1:01:17 But then we need to go from believing we can do it
    1:01:20 to knowing we can do it, it’s different.
    1:01:23 So when I was working with Dave Asbury at Bulletproof,
    1:01:24 helping him build Bulletproof, I said,
    1:01:28 “Look, Dave, we both believe that Bulletproof
    1:01:31 “can be really big, but we need to now know
    1:01:32 “that we can do it.
    1:01:36 “What do we need to do to go from believing to knowing?”
    1:01:37 He said, “Well, we need more inventory
    1:01:41 “and we need more people at the higher levels
    1:01:42 “in the marketing department.”
    1:01:44 He said, “Well, what is it gonna take to do that?”
    1:01:46 He said, “Probably a couple million dollars.”
    1:01:48 I said, “Well, you know all the guys in Silicon Valley,
    1:01:50 “you go up there and raise that, let’s get this done.”
    1:01:52 So he did it, got it done.
    1:01:54 And at that point, Dave and I both knew
    1:01:56 that Bulletproof is gonna be worth hundreds of millions
    1:01:59 of dollars, which approved itself to be.
    1:02:01 And we did kind of declare what it is
    1:02:04 that we needed to get to take us from belief to knowing.
    1:02:07 That’s a really essential step here.
    1:02:09 And then please everybody listen up.
    1:02:11 Then there’s the final step that puts us
    1:02:13 into the Winter Circle.
    1:02:14 Once you know you can do it,
    1:02:17 I can only say that there’s always time to screw it up.
    1:02:20 And this is how people screw it up.
    1:02:23 Until you get to the Winter Circle, you’re not there yet.
    1:02:25 And if you trip before you get there,
    1:02:27 don’t cross the line, then you don’t win.
    1:02:32 So when you see that it’s possible and probable
    1:02:35 that you’re gonna be able to achieve your goal,
    1:02:40 don’t try to speed up to try to get to the finish line faster
    1:02:43 to enjoy the chocolate cake and the champagne
    1:02:45 waiting at the finish line,
    1:02:47 because it’s never over until it’s over.
    1:02:49 And I’ve seen people trip at the last second
    1:02:50 and screw things up,
    1:02:53 never to eventually get past the finish line.
    1:02:55 Please do not do that.
    1:02:58 Or don’t try to control things so much
    1:02:59 thinking that you’re being safe.
    1:03:02 ‘Cause sometimes when you slow things down way too much,
    1:03:04 you start to daydream.
    1:03:07 You think the safety is in the speed, it’s not.
    1:03:09 If you’re going too slow and you start to daydream,
    1:03:10 then you’re at equal hazard
    1:03:12 as if you’re going way too fast.
    1:03:13 So don’t change your pace.
    1:03:16 Keep your pace, be vigilant, keep your eye on the ball,
    1:03:18 keep executing what has to go right
    1:03:20 until you’re way beyond the finish line.
    1:03:22 Once you’re beyond the finish line,
    1:03:24 then you can celebrate in Victory Circle.
    1:03:25 So as long as we’re aware
    1:03:28 that there are these five different steps and stages
    1:03:32 that we go through from act or pursue the goal
    1:03:34 to arrival in the Winter Circle,
    1:03:37 and we can name where we are and we know what that means,
    1:03:39 then that’s our safety net for sticking together
    1:03:43 and working together as a well-organized, coherent team
    1:03:45 that can get things done most efficiently
    1:03:46 and get us into the Winter Circle
    1:03:48 with least time and effort and expense.
    1:03:50 – This is great.
    1:03:51 I have a question for you.
    1:03:55 Do you think that every goal is possible
    1:03:57 or do you think that there are some signs
    1:04:00 that should be like abort mission,
    1:04:02 you should stop, you should quit?
    1:04:04 Or do you feel like anything is possible
    1:04:05 with the right preparation and plan?
    1:04:10 – Well, I think again, if we look at plans of preparation,
    1:04:12 that’s not really reality.
    1:04:14 What it is, it’s our best estimate
    1:04:16 about what we presume reality to be
    1:04:18 and what we presume the path to get from where we are
    1:04:20 to where we want to get to is.
    1:04:21 It’s not reality.
    1:04:27 Reality is when our plan meets real time
    1:04:31 and at that point, then we can make the adjustments necessary
    1:04:33 to carry momentum forward.
    1:04:35 So I think we have to be really mindful about that,
    1:04:39 that plans by their inherent nature designed to change
    1:04:43 and goals that we have are meant to be modified
    1:04:46 based upon the reality of the opportunities
    1:04:48 that present themselves in process.
    1:04:51 But the human mindset that I said,
    1:04:54 that human way of thinking that doesn’t serve us well,
    1:04:58 it will make us think, well, if you’ve declared a goal,
    1:05:01 you have to keep your word by maintaining
    1:05:03 the original goal as stated,
    1:05:05 otherwise you’re going back on your word.
    1:05:07 And that’s not true at all, never.
    1:05:10 Because all the greatest goals always happen,
    1:05:13 like by accident, or there are a bit of a deviation
    1:05:15 that comes off something that we presume to be true,
    1:05:18 but now we found out that it was slightly different.
    1:05:20 But we had the courage to recognize
    1:05:22 that we were being gifted with a different direction
    1:05:24 that could take us to a bigger, better, faster
    1:05:27 that we could not have conceived of in advance.
    1:05:31 So that’s how I would answer that question.
    1:05:35 And I do feel that if you find yourself being in blind faith,
    1:05:36 doing something with the hope
    1:05:39 that it will take you to the finish line, don’t do it.
    1:05:41 Because unless there’s a body of evidence
    1:05:45 that confirms to you the probability of moving forward
    1:05:48 will manifest the completion of the next step,
    1:05:50 then I would suggest that you don’t do it.
    1:05:55 Because I feel far too often people believe
    1:05:56 that I’m a person of my word,
    1:05:58 therefore I have to stick rigidly to something
    1:06:00 that I declared.
    1:06:02 And if I don’t do that, then my word can’t be trusted.
    1:06:03 That is absolutely not true,
    1:06:08 because the plan and what you proposed to be true
    1:06:11 was an estimate based on a presumed reality.
    1:06:15 And if the presumed reality is like, don’t do this like now,
    1:06:18 then I would suggest that you heed that.
    1:06:22 And I do feel that in our lifespan development,
    1:06:24 there is a natural period of our life
    1:06:26 where we are big dreamers.
    1:06:31 But my hope is is that we don’t invest too much
    1:06:35 in a dream that has too many reasons that are informing us
    1:06:38 it’s either not the right time to pursue it
    1:06:40 or we’re not properly prepared
    1:06:43 or maybe there’s not the right fit
    1:06:45 because we don’t have the assets actually to do
    1:06:48 this. So I’m a little bit kind of cautious
    1:06:49 on all of these absolutes.
    1:06:52 I feel that they need to be tempered
    1:06:54 with an interpretation of the reality
    1:06:56 as it currently exists at the moment of time
    1:06:59 while you’re making decisions.
    1:07:02 – That was exactly what I hoped you were gonna
    1:07:05 kind of go off on because I feel like people are so attached
    1:07:06 to like that one outcome.
    1:07:10 Like I want to be a famous NBA player.
    1:07:14 And so few people achieve that goal,
    1:07:16 but really maybe they just want to be somebody
    1:07:20 who inspires other people of their ethnicity or something.
    1:07:22 And it’s really not about playing basketball.
    1:07:24 It’s the impact that they’re making on the world.
    1:07:26 – Yeah, and I have something to say to that if I may,
    1:07:29 is that like, you know, my definition of a champion
    1:07:31 is a manifest or a gifts.
    1:07:33 Like if you’re manifesting your gifts
    1:07:34 then you’re a freaking champion in my opinion
    1:07:36 because, you know, here’s what I do know
    1:07:38 is that there’s only one of us in all the creation.
    1:07:41 There’s never gonna be another you.
    1:07:42 I mean, think about that.
    1:07:44 There’s seven and a half billion people
    1:07:46 on this planet right now and there’s only one of you.
    1:07:49 And what that means is that each and every one of us
    1:07:52 has a unique capacity to influence humanity
    1:07:54 in a way that nobody else can do it.
    1:07:56 You know, the question is that, you know,
    1:07:59 can we live within that and can be okay with that?
    1:08:00 Because here’s the reality.
    1:08:04 Some people are meant to have the aspiration
    1:08:06 of influencing a billion people.
    1:08:09 Yeah, there are some people that are not meant to do that.
    1:08:10 They can’t even think about that.
    1:08:12 They want to look through a microscope,
    1:08:16 an electron microscope, and they want to influence a nano.
    1:08:18 They can’t think in terms of billions.
    1:08:20 Does that make it any less significant?
    1:08:24 No, it does not because everything that happens
    1:08:26 is the product of every other thing that’s happening
    1:08:29 in the world like simultaneously.
    1:08:34 So I think we’re the problem because we assign the value
    1:08:36 to what we believe to be true
    1:08:39 that I don’t think represents what it really is.
    1:08:41 Like, you know, for example,
    1:08:46 a teammate may enable the team star to get the MVP,
    1:08:52 but was the MVP more valuable than the person
    1:08:55 that gave the MVP what they needed
    1:08:56 to do their job correctly?
    1:08:59 You can’t say that that’s true, it’s not.
    1:09:00 You know, every one of us,
    1:09:03 I think that we should look at team as like a linkage
    1:09:08 rather than a hub with spokes.
    1:09:13 It’s a linkage where each of the links in the chain,
    1:09:16 someone that possesses that spot,
    1:09:18 and their unique contribution contributes
    1:09:20 to the integrity of the whole.
    1:09:22 Therefore, the output capacity of the team
    1:09:25 is a sum total of all the parts,
    1:09:27 which you can’t really separate one being more important
    1:09:30 than the other because in a certain sense,
    1:09:31 it’s really not.
    1:09:35 And I feel that far too often the rule is
    1:09:38 people dramatically discount the value of what they do
    1:09:39 because they’re comparing themselves
    1:09:42 against everybody else’s yardstick.
    1:09:44 And I don’t think that we should be doing that.
    1:09:45 You know, there’s only one of us,
    1:09:48 and if we take ownership of what we’re best at,
    1:09:49 we’re passionate about what we’re doing,
    1:09:52 and we’re giving tremendous value to humanity,
    1:09:53 we’re honoring our gifts,
    1:09:55 we’re showing other people what’s possible,
    1:09:57 we’re saying thank you to those people that helped us
    1:09:59 while we’re creating those things that are unique to us.
    1:10:01 To me, man, to me, that’s the champion.
    1:10:03 The champion is not the hyperachiever
    1:10:06 that mows everybody down in the process to get what he wants.
    1:10:09 That’s a self-serving narcissist, in my opinion.
    1:10:12 So there’s this whole other definition
    1:10:14 that I think that we need to encourage each other to pursue,
    1:10:17 which is our uniqueness and our unique gifts.
    1:10:20 – That is super inspiring, Dr. Spencer.
    1:10:22 This whole conversation has been amazing.
    1:10:24 So I’m gonna wrap the interview up
    1:10:26 with a couple of questions that I ask all my guests,
    1:10:28 and then we do something fun at the end of the year with them.
    1:10:29 So the first one is,
    1:10:31 what is one actionable thing
    1:10:33 that my young and profitors can do today
    1:10:35 to be more profiting tomorrow?
    1:10:39 – I would say, what is the skill that you need to build
    1:10:41 that you don’t have, what you need?
    1:10:47 – Okay, and what is your secret to profiting in life?
    1:10:52 – I can be absolutely explicitly clear on this.
    1:10:56 Number one, the reason why I made an Olympic team,
    1:10:58 I showed my art in the best galleries in New York City,
    1:11:00 why I’ve worked with some of the greatest
    1:11:02 Olympic achievers of our time,
    1:11:05 is that I was fearless in showing up and answering the call
    1:11:09 when me, Jeff, gets the insight,
    1:11:11 and I get the calling to show up and do something.
    1:11:13 I’m fearless about doing that.
    1:11:16 And so I’m not particularly ambitious
    1:11:19 about creating something to grandstand and showcase myself
    1:11:21 ’cause I don’t care about that.
    1:11:23 I do, though, care deeply
    1:11:26 about being able to answer the call
    1:11:28 that if I have been called into service
    1:11:30 to do anything like adopting my daughter,
    1:11:32 I will show up faithfully and fearlessly
    1:11:34 to execute that to the nth degree.
    1:11:37 – Amazing.
    1:11:39 Well, where can everybody learn more about you
    1:11:41 and what you do?
    1:11:46 – Well, probably the best place is T-PeriodMe/ChampionsExperience.
    1:11:52 You know, that’s my, you know, telegram,
    1:11:54 and that’s where it kind of posts
    1:11:55 what I’m doing and what I’m up to.
    1:11:57 That would be, by far, the best place to go
    1:12:01 to see where I am and what I’m up to next.
    1:12:01 – Awesome.
    1:12:03 We’re gonna stick that link in the show notes.
    1:12:04 Thank you so much, Dr. Spencer.
    1:12:05 It was a pleasure.
    1:12:07 – Well, I can’t say enough for the opportunity.
    1:12:08 Be well.
    1:12:09 And remember, everybody,
    1:12:10 there’s always room to talk for the best.
    1:12:11 Be well.
    1:12:12 We’ll talk soon.
    1:12:15 (upbeat music)
    1:12:18 (upbeat music)
    1:12:20 (upbeat music)
    1:12:23 (upbeat music)
    1:12:29 [BLANK_AUDIO]

    At seven years old, Dr. Jeff Spencer made a promise to himself to become an Olympian. Despite struggling financially, he achieved that dream at 21, representing the USA in cycling at the 1972 Olympics. But that was just the beginning. Today, Jeff is one of the most sought-after performance coaches in the world, having mentored icons like Tiger Woods, Sir Richard Branson, and Bono. In this episode, Hala and Jeff chat about why success is both a path and a process, what a R.I.G.H.T goal is, the importance of knowing our blind spots, the stages of performance, and the Champion’s Blueprint.

    In this episode, Hala and Jeff will discuss: 

    (00:00) Introduction 

    (02:10) From Tragedy To Triumph

    (06:20) What Makes High Achievers Different

    (14:40) Aligning Mind, Body, and Soul with the Right Goals

    (18:30) Spotting Risks and Avoiding Failure

    (34:20) Why Your Impact Starts Now

    (40:10) How Adopting His Daughter Transformed His Life

    (51:40) Preparing With What You Have

    (58:15) Performance Stages of Success

    (01:02:10) Secrets to Profiting And Winning Big

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  • Sabrina Zohar: Thrive in Love and Business, A Masterclass on Dating and Relationships for Entrepreneurs

    AI transcript
    0:00:02 Today’s episode is sponsored in part by Rakuten,
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    0:01:11 that helps you grow your business.
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    0:01:16 at Shopify.com/profiting.
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    0:01:22 in the show notes or at youngimprofiting.com/deals.
    0:01:24 Burn your fucking checklist.
    0:01:26 It’s not getting you anywhere.
    0:01:29 Focus on how do I want to feel when I’m with this person?
    0:01:31 ‘Cause you could meet someone that doesn’t check those boxes
    0:01:33 and go, holy shit, I feel amazing with this person.
    0:01:35 Sabrina is huge on TikTok.
    0:01:37 She almost has a million followers.
    0:01:39 She’s an entrepreneur herself and an expert
    0:01:42 in the realm of dating and relationships.
    0:01:44 If physicality is important, don’t kid yourself.
    0:01:46 You don’t need to do charity work and date someone
    0:01:47 ’cause they’re nice to you,
    0:01:48 but you don’t even want them to touch you.
    0:01:51 Talk to me about Sparks and how we should think about them.
    0:01:54 The Spark is just your nervous system,
    0:01:56 giving blood to your hands and your feet
    0:01:57 so that you could run.
    0:01:59 The problem is we see someone attractive and go,
    0:02:01 oh my God, it’s a sign.
    0:02:03 What we want to look at is,
    0:02:05 what do you feel is important
    0:02:07 for a sustainable, long-lasting relationship?
    0:02:09 Number one, always and forever.
    0:02:10 You have to.
    0:02:13 (dramatic music)
    0:02:19 (soft music)
    0:02:22 (soft music)
    0:02:30 – Yeah, fam, as entrepreneurs,
    0:02:33 we pour our hearts and souls into our businesses,
    0:02:36 often leaving little time for love and connection.
    0:02:37 But what does it really take
    0:02:39 to balance the demands of a thriving business
    0:02:42 with the desire for a fulfilling relationship
    0:02:43 and personal life?
    0:02:45 My guest today, Sabrina Zohar,
    0:02:46 is both an entrepreneur herself
    0:02:50 and an expert in the realm of dating and relationships.
    0:02:52 In addition to her success as a relationship coach,
    0:02:55 Sabrina continues to expand her influence
    0:02:58 across the entrepreneurial space, fashion and media,
    0:03:01 including her hit podcast, The Sabrina Zohar Show.
    0:03:03 Today, we’re gonna discuss everything
    0:03:05 from her insights into online dating apps
    0:03:07 to attachment styles to the unique challenges
    0:03:09 of navigating the dating world
    0:03:12 while building a successful business.
    0:03:14 I’m especially looking forward to this conversation
    0:03:17 because I feel like dating in 2024 and beyond
    0:03:18 is just so difficult
    0:03:22 and we haven’t talked about it on the podcast in a long time.
    0:03:23 So without further delay,
    0:03:27 here’s my conversation with the incredible Sabrina Zohar.
    0:03:30 Sabrina, welcome to Young and Profiting Podcast.
    0:03:32 – Oh, Hala, thank you so much for having me.
    0:03:33 I’m so excited.
    0:03:36 – I love talking about dating.
    0:03:37 I’m dating right now.
    0:03:41 So this is the perfect episode for me, selfishly,
    0:03:42 just to kick us off.
    0:03:44 I’ve got a lot of listeners who are entrepreneurs
    0:03:46 in their 20s and their 30s right now.
    0:03:50 They’re dating, they’re trying to find their life partner,
    0:03:52 but they’re also trying to start a business
    0:03:55 or they’re already running a really successful business.
    0:03:58 So first off, what do you think are the main challenges
    0:04:01 for entrepreneurs when it comes to dating?
    0:04:04 – Oh God, as somebody who is an entrepreneur,
    0:04:07 I have like a clothing line outside of this business
    0:04:09 that I built, I can totally understand and commiserate.
    0:04:11 And I think the biggest challenge that we see
    0:04:14 with entrepreneurs, especially in the dating realm,
    0:04:16 is this all or nothing mentality.
    0:04:18 It’s like either I have to completely sacrifice my career
    0:04:22 to have this family, or I have to be completely alone.
    0:04:24 I can’t talk to anybody for 10, 15 years,
    0:04:27 and then maybe I can entertain a relationship.
    0:04:29 And really where I think that stems from
    0:04:31 is we have to really look at,
    0:04:32 what are your attachment styles?
    0:04:34 What were you taught growing up?
    0:04:36 Are we scared of losing our independence?
    0:04:38 Is it that we have this mindset that it’s like,
    0:04:40 I have to be making this much money
    0:04:43 in order for me to attract the right partner, right?
    0:04:45 And so I think what we start to see
    0:04:47 is it’s really the core beliefs and the narratives
    0:04:48 that start to push in its way,
    0:04:50 because for me personally,
    0:04:53 I met my partner when I was in between businesses.
    0:04:56 So my clothing line, I was supposed to do Shark Tank,
    0:04:59 got sent home, it was this whole debacle.
    0:05:01 And I had been hustling and growing it
    0:05:04 and doing everything I could and pouring my life in.
    0:05:05 And then I just realized at the end of it,
    0:05:07 what did I have to show, right?
    0:05:09 Okay, so I had money in the bank and I had this career,
    0:05:11 but I didn’t feel fulfilled.
    0:05:12 And so when I started this career,
    0:05:14 I also met my partner at the same time
    0:05:17 and navigating growing a business
    0:05:19 and like really scaling a business
    0:05:21 while trying to form a relationship.
    0:05:22 By no means is it easy,
    0:05:24 but it’s absolutely possible
    0:05:27 when we understand truly ourselves,
    0:05:28 we understand our want needs and desires,
    0:05:30 and we understand the boundaries
    0:05:31 that we’re willing to place
    0:05:33 and have some flexibility, right?
    0:05:35 If it’s, I have to get this work done tonight,
    0:05:36 I have a deadline,
    0:05:38 then it’s having a partner that understands,
    0:05:39 hey, I’m so sorry, I can’t make it to dinner,
    0:05:41 can I make it up to you?
    0:05:43 And it’s really about understanding ourselves,
    0:05:44 how we communicate with other people.
    0:05:47 It is possible, but I think more often than not,
    0:05:49 we think it’s one or the other
    0:05:51 and we don’t realize you can have both,
    0:05:52 it’s just about balance.
    0:05:54 – I know that it’s difficult for entrepreneurs
    0:05:58 because we’ve got this whole other relationship
    0:06:00 that we’re in, which is our business.
    0:06:03 And it’s really hard to just balance work life
    0:06:04 and relationships.
    0:06:06 I think for entrepreneurs in general,
    0:06:09 just finding time for relationships is really difficult.
    0:06:12 So for those of us who are in a relationship
    0:06:14 with a non-entrepreneur,
    0:06:17 how do we effectively communicate that gap
    0:06:20 in terms of all the demands that we have in our lives?
    0:06:21 – Totally, it’s a great question.
    0:06:22 I personally am in a relationship
    0:06:23 as I am the entrepreneur,
    0:06:25 my partner has always just had a job.
    0:06:28 He’s just worked in tech, he’s never owned his own company.
    0:06:31 And the one major aspect I think is,
    0:06:32 it’s really about the communication.
    0:06:34 And it’s important to be very clear
    0:06:35 with the person that you’re seeing,
    0:06:37 that you’re dating, like, hey,
    0:06:39 my priority right now is scaling this business,
    0:06:40 getting it to this level,
    0:06:42 doing what I need to do in order to get that,
    0:06:45 which is going to mean that there are going to be sacrifices
    0:06:46 that need to happen.
    0:06:48 I had to talk with my partner to explain,
    0:06:50 yes, when we wake up in the morning,
    0:06:51 I’m probably checking my emails.
    0:06:53 I’m making sure that people in other countries,
    0:06:55 that brands and things that I’m dealing with
    0:06:57 in Switzerland that are 15 hours ahead,
    0:07:00 not Switzerland being 15 hours ahead, you know my point,
    0:07:01 but these different places, right?
    0:07:03 You’re navigating different parts of the world.
    0:07:06 And it’s really about being communicative with your partner
    0:07:08 and saying like, hey, this is part of the gig, right?
    0:07:09 You want the entrepreneur,
    0:07:12 you want this person that’s so driven and motivated,
    0:07:14 but that’s also going to come with sacrifices
    0:07:17 that I’m going to need to make in this relationship.
    0:07:20 But I am still 100% committed to us growing together.
    0:07:21 And if you’re willing to sit by my side
    0:07:23 while we go through this,
    0:07:25 I promise to at least communicate along the way.
    0:07:28 – I wanna talk about your experience,
    0:07:30 because many entrepreneurs,
    0:07:32 you ended up in a career where you’re basically
    0:07:34 helping who you were in the past.
    0:07:37 You’re helping your younger self now,
    0:07:39 because you had a lot of issues with your own dating
    0:07:42 and a lot of experiences with your dating.
    0:07:45 So talk to us about your relationship past,
    0:07:47 your rock bottom moment
    0:07:50 and how you ended up becoming a relationship coach.
    0:07:51 – I was the epitome of a hot mess.
    0:07:54 I don’t know how else to say it in a polite way.
    0:07:56 For me personally, I grew up with a father
    0:07:58 who was an entrepreneur, all of my life, my father owned
    0:08:00 businesses, he never worked for anybody else.
    0:08:02 And then I had a mom that was a stay-at-home mom.
    0:08:05 So it was two very polarizing experiences,
    0:08:07 one sacrificing everything to have children
    0:08:09 and then the other one sacrificing everything
    0:08:10 to have a business.
    0:08:13 So I grew up with a lot of core wounds, right?
    0:08:14 I’m not good enough, I’m too much,
    0:08:16 there’s something wrong with me.
    0:08:19 And it doesn’t surprise anybody that I went into sales, right?
    0:08:21 I had to sell myself and convince people
    0:08:23 and I crushed it as being in sales
    0:08:25 and working in wholesale and in fashion.
    0:08:26 I lived in New York for 12 years
    0:08:29 and I just started to realize I am the epitome of trauma.
    0:08:31 I continue to repeat the same patterns,
    0:08:32 I continue to date the same people,
    0:08:35 I continue to have the same experiences.
    0:08:37 And for me, I leaned highly anxious.
    0:08:40 So really quick, just for anybody who’s not familiar,
    0:08:41 we’ve got the attachment styles.
    0:08:43 And the reason I bring up attachment styles
    0:08:46 isn’t because I want everyone to start diagnosing
    0:08:46 everyone they’re dating.
    0:08:49 And attachment styles are just important for us, right?
    0:08:53 So off the bat, we’ve got four main attachment styles
    0:08:54 depending on who you’re talking to.
    0:08:57 We’ve got secure, which means I can give and receive love,
    0:09:00 I understand independence and interdependence.
    0:09:01 People that are secure grew up in households
    0:09:04 where their parents were loving and compassionate
    0:09:05 and gave them the needs that they had.
    0:09:07 They attuned to their needs.
    0:09:09 They taught them how to give and receive, right?
    0:09:11 It’s more of a balance.
    0:09:12 Then we have the insecure attachments.
    0:09:14 We have anxious, which manifests in
    0:09:18 constantly needing validation, everything being external.
    0:09:21 You tell me I’m okay, I just need to know I’ll be all right.
    0:09:23 Then the pendulum swings
    0:09:25 and usually the anxious household is in consistency,
    0:09:28 abandonment issues, things of caregivers
    0:09:30 not being there consistently.
    0:09:31 Then we have the avoidant
    0:09:33 and the avoidant is the other end of the spectrum, right?
    0:09:35 The avoidant is not a bad person.
    0:09:36 That just means when triggered,
    0:09:38 this person learns to shut down.
    0:09:41 So the anxious goes outwards, I need the validation.
    0:09:44 The avoidant looks at this as I just need to protect myself.
    0:09:45 Feelings aren’t safe.
    0:09:46 I don’t want to deal with this.
    0:09:48 Too much overload shut down.
    0:09:50 So they go inward, right?
    0:09:51 And so we see that a lot,
    0:09:53 especially with like high powered CEOs, right?
    0:09:54 If you’re super avoidant,
    0:09:57 you might be just no emotion, everything is factual,
    0:09:59 but that doesn’t translate into our relationships
    0:10:02 because we do need to hold space for emotions, right?
    0:10:05 So oftentimes a lot of business owners
    0:10:07 can be more avoidant leaning because they learn,
    0:10:09 let me just dump everything into my business.
    0:10:11 I don’t need to worry about the rest.
    0:10:13 Then we have that disorganized attachment,
    0:10:15 which is the amalgamation, if you will,
    0:10:17 but it’s really that push pull I want love.
    0:10:19 So they have that anxiety of I need it, I need it.
    0:10:21 But then when they get it, it’s no, no, no,
    0:10:23 I’m scared of it and they run.
    0:10:24 So that’s where you’ll see that push pull
    0:10:26 where you almost feel like you’re going crazy.
    0:10:28 That’s this disorganized attachment.
    0:10:30 Those are really prevalent in homes of abuse, right?
    0:10:31 You love your caregiver,
    0:10:33 but you’re scared of them at the same time.
    0:10:35 So it creates that amalgamation.
    0:10:37 The reason I bring that up is just to say,
    0:10:39 I was the poster child for anxiety, right?
    0:10:42 I was constantly seeking external validation,
    0:10:43 inclusive of my business, right?
    0:10:45 Trying to present myself.
    0:10:48 And it was 10 years of doing the same shit,
    0:10:50 10 years of dating the same people,
    0:10:52 dating the emotionally unavailable,
    0:10:54 not understanding what was wrong with me,
    0:10:55 feeling so insecure in my business.
    0:10:56 When I started software,
    0:10:58 it didn’t matter how much money we made.
    0:11:02 Every day I was scared, fear, fear was driving the car.
    0:11:03 And that’s that anxiety.
    0:11:06 And for me, that manifested in my dating relationships,
    0:11:08 being shit, I married my father.
    0:11:10 I married an exact replica of the man
    0:11:12 I was trying to run away from my entire life.
    0:11:13 And after that, when I hit rock bottom,
    0:11:16 and I just said, I’m a shell of a human.
    0:11:17 I don’t have any money.
    0:11:18 This was 2018.
    0:11:19 And I said, I’m starting therapy.
    0:11:21 And that just started to understand,
    0:11:23 oh, where did I learn this behavior from?
    0:11:24 Oh, wait, what’s coming up for me?
    0:11:26 Oh, wow, wait, in my business,
    0:11:30 I’m also manifesting as this very anxious person.
    0:11:32 And it’s coming out in my relationships, right?
    0:11:35 Like used to start to understand how they’re correlating.
    0:11:36 Fast forward, 2022.
    0:11:37 I moved to LA.
    0:11:38 I left New York.
    0:11:39 I was running software.
    0:11:41 Software during COVID exploded.
    0:11:43 We hit a million dollars that year.
    0:11:44 And it was just me running everything.
    0:11:46 So I was super proud of the business that I’d built.
    0:11:50 And the next year, I’m ready to go on Shark Tank.
    0:11:52 This is July of 2022.
    0:11:54 None of what I have now existed.
    0:11:57 I wasn’t a dating coach or relationship coach or anything.
    0:12:00 But at the time, I was doing a ton of podcasts and panels
    0:12:01 and people were reaching out to me
    0:12:02 to coach them for business.
    0:12:04 Like, how do you start a business from nothing?
    0:12:06 Can you teach me about the mindset and things like that?
    0:12:09 So I was coaching people off the beaten path, if you will.
    0:12:11 And I was on Shark Tank and I was like, this is it.
    0:12:12 This is gonna be my life.
    0:12:13 I’m gonna fucking kill it.
    0:12:15 I’m gonna get this deal.
    0:12:17 This is gonna be it for me.
    0:12:19 And after 12 hours of on set, they said,
    0:12:20 sorry, we don’t have time for you today.
    0:12:21 You gotta go home.
    0:12:23 I crashed.
    0:12:26 That was the second big breakdown for me.
    0:12:28 The first being when my ex left me and my mom got sick
    0:12:30 and my life started to transition.
    0:12:32 I started my clothing company.
    0:12:34 Then this is fast forward five, six years later.
    0:12:36 You’re like, it feels like Groundhog’s Day.
    0:12:38 You’re like, wait a minute, how can I lose everything again?
    0:12:40 A month later, my dog passed away.
    0:12:42 I just couldn’t understand what to do.
    0:12:43 I had no money.
    0:12:45 My business was in shambles.
    0:12:47 I broke up with this guy that I was not happy with.
    0:12:48 My dog passed away.
    0:12:50 My dating life is shit.
    0:12:51 And all I kept thinking was,
    0:12:53 there’s gotta be other people that are hurting like I am.
    0:12:54 And there’s gotta be other people
    0:12:56 that are looking at the clickbait on the internet saying,
    0:12:57 but this doesn’t resonate with me.
    0:12:59 I don’t wanna play these games.
    0:13:01 So I started to create my own content.
    0:13:03 I just picked up a TikTok one day and said,
    0:13:05 let me see if there’s other people that resonate.
    0:13:08 And that just mushroomed into, okay, there are.
    0:13:10 And people were coming to me like, hey, can we talk?
    0:13:11 I want you to coach me.
    0:13:12 I wanna work with you.
    0:13:15 And I just started to organically build this business on,
    0:13:16 okay, supply and demand.
    0:13:17 You want me, I’m here.
    0:13:19 I’ll do what you need.
    0:13:21 But all of that was staying really fucking authentic
    0:13:23 to myself and not changing who I am
    0:13:25 and not trying to people please.
    0:13:26 And ooh, don’t talk as fast
    0:13:28 ’cause these people don’t like it.
    0:13:30 No, this is who I am and this is how I speak.
    0:13:32 And that just allowed me to grow that business
    0:13:34 all while I met my partner at the same time.
    0:13:37 And my life changed when internally I changed.
    0:13:38 As a business owner,
    0:13:39 I’ve never been a better business owner
    0:13:41 because of the work that I’ve done.
    0:13:43 – I love your story so much.
    0:13:46 And guys, Sabrina is huge on TikTok.
    0:13:49 She almost has a million followers, which is incredible.
    0:13:53 She has a podcast that literally came out of nowhere
    0:13:55 and has done so well.
    0:13:58 It’s called the Sabrina Zohar Show Now.
    0:14:01 And just an incredible hats off to you
    0:14:05 for following your gut, for sharing your knowledge.
    0:14:09 And I love the fact that you didn’t study relationships.
    0:14:11 This is not what you went to school for.
    0:14:12 This is not even what you thought
    0:14:14 you were going to be doing,
    0:14:15 but you just went for it.
    0:14:16 You saw a path and you’re like,
    0:14:17 “Hey, like I’m good at this.
    0:14:18 I can keep learning it
    0:14:21 and teaching other people in the process.”
    0:14:22 – 100%.
    0:14:23 For people that are listening,
    0:14:24 you’re entrepreneurs, right?
    0:14:26 We’re always waiting for the perfect moment.
    0:14:27 Oh, I need like, even I’m sure, Halla,
    0:14:29 you could have how many experiences where you’re like,
    0:14:30 I was waiting, waiting, waiting.
    0:14:33 And then you start something and you just, it works, right?
    0:14:35 Your podcast growing, expanding.
    0:14:36 I could imagine there was prep,
    0:14:38 but you just sometimes have to say,
    0:14:39 “Let me just go for it.”
    0:14:40 And it was the same.
    0:14:42 It was seeing a need in the market.
    0:14:44 And I think that’s really something that I highlight
    0:14:46 with any entrepreneurs that I work with.
    0:14:48 What problem are you actually solving, right?
    0:14:49 If you have a passion towards something
    0:14:52 and you say, “I am the prime demographic
    0:14:53 that needs this material.”
    0:14:55 Well, then it’s really understanding who my audience is
    0:14:58 so that I can resonate more with them.
    0:14:59 My mama has always taught me,
    0:15:00 you can please some of the people some of the time,
    0:15:03 but you can’t please all the people all the time.
    0:15:05 And understanding that as a business owner,
    0:15:08 I can’t make everybody happy and I’m not trying to.
    0:15:11 But by really staying true and just watching the market
    0:15:12 and being very aware of,
    0:15:13 “Okay, this is what people want.
    0:15:15 Great, let me give them more.”
    0:15:16 You know what, this isn’t what people want.
    0:15:18 I don’t need to put more of my energy into that.
    0:15:21 Allowed me to take control of my life,
    0:15:22 which is also very reminiscent
    0:15:24 of how we can experience our dating life.
    0:15:26 I can’t control the outcome.
    0:15:27 I can’t control if this is gonna work,
    0:15:29 but I can control how I show up
    0:15:31 and how I navigate the waters.
    0:15:32 – A lot of people don’t realize
    0:15:35 that when you start a popular social media account,
    0:15:38 you’re really in the business of audiences.
    0:15:40 It’s not really about what you sell,
    0:15:42 it’s about what your audience wants.
    0:15:45 And you can just evolve based on what your audience wants.
    0:15:47 And that’s really the future of everything
    0:15:49 when it comes to online entrepreneurship.
    0:15:52 Okay, so you talked about attachment styles.
    0:15:54 And I love the overview that you gave
    0:15:55 because I was gonna ask you for it.
    0:15:58 So I’m so happy that you did that.
    0:15:59 And I wanna dig deeper
    0:16:01 because this has become such a hot topic.
    0:16:03 I was just on a double date the other day.
    0:16:06 And the guy that was on the other date
    0:16:09 was basically like, “Oh, like why don’t we go round robin
    0:16:11 and everybody share their attachment style?”
    0:16:14 And we did it as an icebreaker,
    0:16:17 which I see rolling your eyes here
    0:16:19 for those who are just listening on audio.
    0:16:21 But I thought it was a cool,
    0:16:23 I didn’t really know what my attachment style was,
    0:16:25 but it was a cool thing to discuss and see.
    0:16:27 And even it’s relevant
    0:16:29 outside of just romantic relationships.
    0:16:31 So it was a cool way to kind of get to know each other
    0:16:33 as an icebreaker.
    0:16:35 So let me ask you,
    0:16:37 you didn’t feel that was appropriate, I guess.
    0:16:38 – No, because I’ll be honest,
    0:16:40 people are really shitty at self-assessment.
    0:16:43 So I hear this every day of like, “I’m secure and I’m this.”
    0:16:44 And you’re like, “Really?”
    0:16:46 But all of these actions that you’re stating
    0:16:48 don’t match secure.
    0:16:51 And the reality is that attachment styles are not fixed.
    0:16:54 Wait, wait, before I go on, what did he say he was?
    0:16:56 – I think he said he was avoidant.
    0:16:57 – Right.
    0:16:59 And the reality is because then if somebody’s saying,
    0:17:00 “Oh, I’m avoidant.”
    0:17:02 As the receiving end of that,
    0:17:04 as a woman who has leans more anxious, huge red flag.
    0:17:08 And the problem is it’s not that he’s a red flag.
    0:17:10 It’s not that he being avoidant is a red flag.
    0:17:12 It’s because of what we’ve been taught and conditioned.
    0:17:14 The minute I hear, “Oh, you’re more avoidant,
    0:17:15 “no thanks, I don’t wanna deal with this.”
    0:17:18 And what happens is he ends up shooting himself in the foot.
    0:17:21 Because he can change that, he can heal through it.
    0:17:23 He can say something that would be an interesting topic
    0:17:26 is instead of asking somebody what’s your attachment style,
    0:17:27 because some people would go,
    0:17:30 “I don’t know, I don’t wanna myself identify.”
    0:17:31 The response and the question could be,
    0:17:33 how do you handle conflict?
    0:17:34 Do you shut down
    0:17:36 or do you need to talk about something immediately?
    0:17:37 That would give me an understanding,
    0:17:39 oh, maybe you lean more avoidant.
    0:17:41 Okay, well, what’s uncomfortable
    0:17:42 about having the conversation?
    0:17:45 We can have more depth and understanding
    0:17:48 versus if he tells me he’s avoidant and my responsibility,
    0:17:49 oh, well, then what are we doing here?
    0:17:50 You’re probably not even getting, right?
    0:17:53 I’m starting all these preconceived notionally.
    0:17:55 I’m curious, how did you feel receive
    0:17:56 or how did your friend that was on the date
    0:17:57 feel receiving that?
    0:18:00 I know that the person that I was on the date with
    0:18:01 said that he was also avoided.
    0:18:02 And to your point in my head,
    0:18:04 I’m like, well, I’m just wasting my time here.
    0:18:05 Why the heck am I here?
    0:18:07 You know, like, so it wasn’t to your point.
    0:18:09 It really did shoot him in the foot.
    0:18:10 Right?
    0:18:12 Because he could be have more avoidant tendencies,
    0:18:14 but maybe that doesn’t come out with you, right?
    0:18:17 Maybe you’re significantly more secure for him
    0:18:18 and it doesn’t trigger him.
    0:18:20 The problem with setting the stages that
    0:18:22 is it doesn’t allow growth.
    0:18:24 It doesn’t allow you to change and evolve
    0:18:25 because the other reality is
    0:18:28 I might be super anxious with one person,
    0:18:29 but then I meet somebody else
    0:18:31 and I’m not as triggered by that person.
    0:18:34 So I’m less anxious with them ’cause it’s a spectrum.
    0:18:35 And I think that’s the misconception
    0:18:37 is we’ve villainized avoidance, right?
    0:18:39 I mean, you know, as well as I do,
    0:18:41 the content we see on the internet.
    0:18:42 And it’s not fair to people.
    0:18:44 So I’ll leave it back up.
    0:18:45 There is a book called “Attached.”
    0:18:46 That’s what started a lot of this.
    0:18:49 “Attached” was written by Amir Levine
    0:18:50 and this was written, I believe, 2007.
    0:18:52 So it’s a minute ago.
    0:18:54 And it’s like the number one book in this field.
    0:18:57 And Amir Levine has come out now recently saying
    0:18:59 I was way too hard on the avoidant in the book.
    0:19:01 I didn’t understand them enough
    0:19:03 and I really villainized them
    0:19:05 because he made them come off as these cold callists.
    0:19:06 We don’t care about anything.
    0:19:08 We just shut down and remove ourselves.
    0:19:11 But that’s not actually how avoidants work, right?
    0:19:13 There’s a difference between avoidant personality disorder,
    0:19:14 somebody who just avoids everything
    0:19:16 because everything makes them uncomfortable
    0:19:18 versus an attachment style.
    0:19:20 Here’s the thing, you have to be attached
    0:19:21 for that to come out.
    0:19:23 So I might not be anxious with someone
    0:19:24 if I’m not that into them
    0:19:28 because I’m not feeling that childhood core wound
    0:19:30 being activated.
    0:19:32 So it’s not fair for me to say I’m anxious.
    0:19:34 No, I have anxious tendencies
    0:19:37 and I run a little bit more anxious than the average person.
    0:19:38 That allows me space to grow
    0:19:40 into a different version of myself.
    0:19:41 So good.
    0:19:46 Okay, so is there like a good and bad attachment style
    0:19:50 because it seems like secure feels like the obvious best one
    0:19:51 that we should all try to achieve
    0:19:53 is the secure attachment style.
    0:19:55 But do anxious attachment styles
    0:19:58 or avoidant have any pros to them?
    0:20:01 Like, is it really like trying to just become secure?
    0:20:03 So when we look at attachment styles
    0:20:04 ’cause I think that’s a great question, right?
    0:20:06 It’s, we’ve seen, oh, if you’re anxious,
    0:20:08 at least you’re expressing yourself
    0:20:09 and it’s like, no, you’re not.
    0:20:10 You’re just talking.
    0:20:11 Talking doesn’t mean communicating, right?
    0:20:13 There’s two very different things.
    0:20:14 And same with the avoided.
    0:20:15 Well, he just pulls away.
    0:20:17 Maybe that person needs to process, right?
    0:20:19 There are pros and cons to the behavior
    0:20:21 depending how we look on it.
    0:20:23 The reality is our attachment styles
    0:20:25 are not something that we asked for.
    0:20:26 So attachment styles form
    0:20:28 in the zero to six age of our lives.
    0:20:32 So attachment styles are formed very early childhood
    0:20:35 dependent on how your caregivers attune to your needs.
    0:20:37 So for me, I have that high anxiety
    0:20:38 because I came in a household.
    0:20:41 I had a narcissistic father constantly dismissed us,
    0:20:43 no boundaries, we would get hit a lot.
    0:20:46 He was very abusive, very verbally abusive,
    0:20:47 leaving all the time.
    0:20:50 And then my mother, instead of attuning to our needs
    0:20:52 if my father hit us and we’re crying,
    0:20:53 she would walk out of the room.
    0:20:56 So as a child, I learned no one’s safe.
    0:20:57 I have no one I can rely on.
    0:20:59 There’s no object permanence.
    0:21:02 So that’s what bred this, give me the validation.
    0:21:04 Please, please, I need it, I need it.
    0:21:06 That doesn’t mean that I’m a bad person in my adult life.
    0:21:08 And on the flip side, my partner,
    0:21:10 his father was very abusive growing up
    0:21:11 and he learned emotions are not safe.
    0:21:13 So he learned to shut them down.
    0:21:16 Just shut up, don’t say anything and you won’t get hurt.
    0:21:19 So as an adult, he really struggles to express himself
    0:21:22 because he’d never had a safe space to do so.
    0:21:23 When we look at people that are secure,
    0:21:26 people that are secure still feel anxiety.
    0:21:27 They still have avoidant tendencies.
    0:21:30 They can still get overwhelmed and remove themselves.
    0:21:33 The difference is people that are secure understand
    0:21:35 that part of being in a relationship is co-creating.
    0:21:37 I need to be vulnerable and hold space for you
    0:21:39 and vice versa.
    0:21:42 So the reality is I have gotten to earn secure.
    0:21:44 We can get to an earned secure space
    0:21:46 and that just means being okay with myself,
    0:21:48 being comfortable in my body,
    0:21:51 knowing my emotions, understanding where they come from
    0:21:53 and being able to clearly express that with my partner
    0:21:56 and not take it personally if my partner needs space.
    0:21:58 We can all get to these levels,
    0:22:00 but let’s say for the anxious person,
    0:22:02 there’s a lot of beautiful qualities that they embody.
    0:22:04 They’re very empathetic, they’re very sensitive,
    0:22:07 they’re very in tune with other people’s emotions.
    0:22:08 Could be good or bad, right?
    0:22:11 And then same with the avoidant, they know how to process.
    0:22:13 Maybe they know how to take some space.
    0:22:14 They know how to be independent.
    0:22:16 It’s when the pendulum swings
    0:22:19 to where the codependency happens with the anxious person
    0:22:22 and the hyper independence can happen with the avoidant.
    0:22:24 And so we’re just trying to find a balance
    0:22:27 between these personalities and this attachment,
    0:22:29 but there’s nobody that’s good or bad.
    0:22:31 It’s really just a bad, how can I come home to myself
    0:22:32 and feel comfortable in my body
    0:22:34 so that I can allow someone else to be a human
    0:22:36 and show compassion to both of us.
    0:22:40 – And when you say that you have an earned secure style,
    0:22:42 does that mean that somebody has to earn that from you
    0:22:44 or what do you mean by that?
    0:22:46 – Meaning I earned it.
    0:22:47 I had that anxious attachment.
    0:22:51 Doing the work and becoming more secure is like earned secure,
    0:22:53 meaning that I wasn’t just born with it, right?
    0:22:54 I didn’t have great parents.
    0:22:55 I didn’t have that home.
    0:22:57 I didn’t have that family unit.
    0:22:59 But as an adult, I did the work
    0:23:02 to earn that secure title if you will.
    0:23:03 And it’s just another way of saying,
    0:23:05 you can change and evolve.
    0:23:06 You can get to that level,
    0:23:08 but I totally understand how that could be confusing.
    0:23:10 Yeah, it’s not about your partner earning it.
    0:23:13 It’s more just how we do the work for ourselves to show up.
    0:23:15 – I recently did a listener survey
    0:23:17 and I found out that a majority of my audience
    0:23:19 has young kids, which makes sense.
    0:23:23 We’ve got a lot of 30, 40 year olds listening to the show.
    0:23:27 So talk to me about what we should be doing as parents.
    0:23:29 – So when it comes to these attachment styles,
    0:23:30 when it comes to that,
    0:23:32 so there’s been a lot of studies done
    0:23:34 and here’s the good and the bad news.
    0:23:36 Where it really has formed is zero to one.
    0:23:38 So you have a lot of opportunity
    0:23:40 when you have a very young child
    0:23:42 because it actually shows in order
    0:23:44 to have a secure attachment,
    0:23:46 your parent needs to make eye contact with you
    0:23:47 30% of the time.
    0:23:49 It’s really not that much.
    0:23:50 But the way that this is learned,
    0:23:52 let’s say for instance, okay, as a kid,
    0:23:53 you have a kid, right?
    0:23:55 And when you put the kid to bed,
    0:23:57 he starts to scream and cry.
    0:23:59 You don’t go into the room,
    0:24:01 the child shuts down and learns,
    0:24:01 what’s the point of yelling?
    0:24:03 No one’s gonna come get me.
    0:24:05 So they might be more anxious as they get older
    0:24:08 because they have to scream to get anyone to look at them.
    0:24:09 So if we think about it,
    0:24:12 what that really means is understanding that as a parent,
    0:24:14 and this is probably not a very fun topic
    0:24:16 or a hot take here,
    0:24:20 as a parent, your child is meant to inconvenience you.
    0:24:21 That’s the point of having a child
    0:24:23 is that they need to learn the lay of the land.
    0:24:25 So for people that get upset,
    0:24:27 like my baby doesn’t stop crying.
    0:24:29 Yeah, that’s the point of having a child.
    0:24:30 They need to learn the lay of the land.
    0:24:32 They need to learn themselves.
    0:24:34 It’s called egocentric age from zero to six.
    0:24:36 Essentially what that means is from zero to six,
    0:24:38 children will internalize everything
    0:24:39 as it’s about themselves.
    0:24:41 They have to be narcissistic.
    0:24:43 That’s how they’re learning the world, right?
    0:24:45 I do this, this happens to me.
    0:24:48 So right now, if you have a child, wherever it is,
    0:24:51 if you start to notice, wow, my kid shuts down,
    0:24:54 then maybe that’s the time to create a safe space
    0:24:55 to go to your kid and say,
    0:24:57 hey, what feels uncomfortable
    0:24:59 about expressing yourself to me, are you okay?
    0:25:02 Just to be there for your kids so that they learn,
    0:25:04 oh, it’s safe for me to express myself.
    0:25:05 I’m not gonna get hurt.
    0:25:08 Oh, or if your kid feels they get anxious
    0:25:09 every time you leave the house,
    0:25:11 it’s about asking, hey, what are you scared of happening?
    0:25:13 Do you think I’m not gonna come home for you?
    0:25:15 I need to let you know I love you and I’m here for you
    0:25:16 and I’m not going to leave you.
    0:25:19 And anytime you need me to reassure you, I will.
    0:25:22 It’s those little things that, I’ll be honest,
    0:25:23 I didn’t have that as a kid.
    0:25:25 – It makes a lot of sense.
    0:25:27 And it makes sense that you can nudge them
    0:25:30 to go the other direction if you didn’t do a great job
    0:25:31 from zero to one, because let’s face it,
    0:25:34 a lot of people probably missed that and didn’t know.
    0:25:36 And there’s so much information out there.
    0:25:38 It’s hard to know what’s the right thing to do.
    0:25:43 So I feel like a lot of my past relationships
    0:25:46 have been repeats of my first relationship.
    0:25:50 In high school, I had this crazy boyfriend
    0:25:53 who was controlling and we’d fight a lot
    0:25:57 and it was this really energetic relationship.
    0:25:59 And then I found myself taking college
    0:26:01 repeating the same relationship.
    0:26:04 And then I had a really long 10 year relationship
    0:26:05 that was basically a repeat
    0:26:07 of that high school relationship, right?
    0:26:09 So what are your thoughts around that
    0:26:11 and having your first relationship
    0:26:14 having an impact on your other relationships?
    0:26:15 – Oh, it’s monumental, right?
    0:26:17 And because we have to remember
    0:26:19 that first relationship was just setting the stage
    0:26:21 for how you were already feeling, right?
    0:26:23 Because if you came from a household
    0:26:26 with two really loving parents that were incredibly secure
    0:26:28 that taught you that your self-esteem matters, right?
    0:26:31 That you are amazing and you are allowed to set boundaries.
    0:26:32 You’re allowed to say no.
    0:26:34 Then that behavior, you would have been turned off
    0:26:35 and gone, who the fuck are you?
    0:26:37 I don’t need to deal with this.
    0:26:40 So I look at that saying, okay, so we see a pattern, right?
    0:26:41 Okay, there’s volatility.
    0:26:43 Your nervous system feels safe
    0:26:46 during high highs and low lows.
    0:26:47 I have to earn the love and if I lose it,
    0:26:48 I have to earn it back.
    0:26:51 So what I would look at here is saying, okay,
    0:26:54 if we look at how did you feel in your body, right?
    0:26:56 Anxious and not uncertain and all that.
    0:26:57 My next question would be,
    0:26:59 who did that person remind you of from early childhood?
    0:27:03 When do you remember feeling that in your dynamics?
    0:27:05 So I always dated emotionally unavailable men
    0:27:08 because it was, I’m always too much, I’m too needy.
    0:27:10 Well, that’s because my father taught me that.
    0:27:12 My father was very unavailable.
    0:27:15 So I learned there’s something wrong with me, I’m too much.
    0:27:18 So it’s a term called repetition compulsion.
    0:27:19 It’s a Freudian term.
    0:27:23 And it pretty much means that we are going to remimic
    0:27:25 the same dynamics that we had growing up
    0:27:26 in our adult relationships
    0:27:29 because a part of our brain and our psyche believes,
    0:27:33 if I can get this guy, then all of the pain goes away.
    0:27:35 See, if I can prove to them that I’m not too much,
    0:27:38 then I was wrong, my dad was wrong, everyone was wrong.
    0:27:39 But what ends up happening?
    0:27:41 It just reaffirms your core belief, right?
    0:27:43 Because that person’s unavailable.
    0:27:45 That person’s not healthy, they’re toxic, right?
    0:27:46 They’re familiar.
    0:27:49 And so what we have to look at is it’s not conscious.
    0:27:51 This doesn’t mean that you’re doing this
    0:27:52 in your waking life, walking around.
    0:27:54 But what we have to look at is and say,
    0:27:55 what feels familiar?
    0:27:57 Like I’d be curious, Hala, if you care,
    0:27:58 if you want to be.
    0:27:59 Oh yeah, 100%.
    0:28:00 As you’re saying that, I’m like, oh,
    0:28:03 it’s because my parents were strict Arabic parents
    0:28:04 that controlled me when I was younger.
    0:28:05 You know what I’m saying?
    0:28:07 So they would always try to control me.
    0:28:08 You can’t do this, you can’t do that.
    0:28:10 You can’t go to camp, you can’t do this.
    0:28:12 And so then I was, okay, you’re telling me
    0:28:15 I can’t go to the gym or I can’t wear leggings?
    0:28:17 No problem, I’m used to being controlled, you know?
    0:28:20 So that’s it, exactly.
    0:28:21 And then we see that.
    0:28:23 And so what we hear there is, oh my God,
    0:28:24 I have so much compassion.
    0:28:27 I have so much empathy for that little Hala
    0:28:30 that sees this as, oh my God, but I’m scared, that’s dad.
    0:28:31 I don’t want to lose this.
    0:28:33 And then what the work starts to lie in
    0:28:36 is to re-parent that version of, no,
    0:28:38 you’re allowed to say no, you’re allowed to wear leggings,
    0:28:40 you’re allowed to be the version of yourself
    0:28:42 just because that wasn’t accepted as a kid
    0:28:45 doesn’t mean that now as an adult, it won’t be accepted.
    0:28:48 But that starts with us accepting that, right?
    0:28:50 How am I gonna not feel too much in my partner
    0:28:53 if I genuinely still believe I’m too much?
    0:28:55 – In terms of who’s attracted to who
    0:28:58 with these attachment styles, is it opposites attract?
    0:29:00 Can secure people only like secure people?
    0:29:01 How does it work?
    0:29:04 – Oftentimes what we see is, oh, secure people
    0:29:08 can date any attachment style and it depends on the severity.
    0:29:10 So we look at attachment styles like a spectrum, right?
    0:29:11 And so there’s that severe.
    0:29:15 There are people that are so emotionally unavailable
    0:29:17 and what that actually means and people misconstrue.
    0:29:20 They think only avoidant people are emotionally unavailable.
    0:29:22 Anxious folks are emotionally unavailable as well
    0:29:24 because the anxious person is only focused on
    0:29:25 why are you doing this?
    0:29:27 Why won’t you tell me what’s going on?
    0:29:28 Why don’t you like me?
    0:29:30 Everything is external.
    0:29:32 So what that means is you’re self-abandoning.
    0:29:33 You’re not actually in touch with,
    0:29:35 hey, this doesn’t make me feel good.
    0:29:37 I don’t like how I’m feeling.
    0:29:39 Then we see the avoidant person,
    0:29:40 they are emotionally unavailable.
    0:29:41 I don’t wanna deal with this.
    0:29:42 Nope, nope, emotions are too heavy.
    0:29:44 This is too much, I relieve.
    0:29:47 So somebody who’s secure could absolutely date somebody
    0:29:50 with a bit of an avoidant or anxious attachment style
    0:29:53 because they understand, hey, let me create a safe space.
    0:29:55 That person does the work privately
    0:29:57 and they’re able to have a beautiful relationship.
    0:29:59 Two anxious people don’t normally work
    0:30:02 because you have to remember going after someone anxious,
    0:30:03 if I come to you and say, oh my God,
    0:30:06 I really like you, my core belief is
    0:30:07 there’s something wrong with me, I’m not good enough.
    0:30:09 So I look at this going, no, this is too easy.
    0:30:11 This is boring, I don’t want this, you like me.
    0:30:13 There’s no chase.
    0:30:16 And then two avoidants, nobody contacts each other.
    0:30:19 They’re both so in their own world.
    0:30:22 So really where we see the number one draw
    0:30:24 is the anxious avoidant trap, right?
    0:30:25 When the anxious and avoidant meet,
    0:30:29 the anxious person is gregarious, big, outward, right?
    0:30:31 They held so much space,
    0:30:32 they’re in touch with their emotions on paper
    0:30:34 and the avoidant person looks and says, oh my God,
    0:30:37 that’s so hot, look how open and loving they are,
    0:30:38 look how warm they are.
    0:30:41 Then the anxious person sees the avoidant as,
    0:30:43 oh my God, they’re so chill, look, they don’t have me,
    0:30:46 oh, they’re so independent, that’s so sexy,
    0:30:48 I love that about them.
    0:30:50 But then as we start to see them, they get triggered,
    0:30:52 the anxious person wants more, no, no, come closer.
    0:30:54 The avoidant person starts to remove themselves
    0:30:56 and say, no, this is too much.
    0:30:58 And then we start to see this trap ensue.
    0:30:59 They both need each other.
    0:31:01 It’s a very codependent relationship
    0:31:02 because the anxious and the avoidant
    0:31:05 both need each other for this dynamic to play out.
    0:31:06 Whereas somebody secure,
    0:31:08 if you have someone that’s highly anxious
    0:31:09 and you set a boundary,
    0:31:11 they’re not gonna keep dating that person
    0:31:12 if they disrespect the boundary.
    0:31:14 So if I’m super secure
    0:31:16 and I’m dating somebody highly anxious
    0:31:17 that doesn’t respect my boundaries,
    0:31:20 text me 24/7, freaks out if I don’t text them
    0:31:23 back in two seconds, demands that I see them 24/7,
    0:31:25 the secure person’s gonna say, no, thank you.
    0:31:27 That doesn’t work for me and they’ll walk away.
    0:31:30 The anxious person, it’s continuing on this trap
    0:31:32 of you’re too much, you’re too needy.
    0:31:33 They get to remove themselves.
    0:31:35 But they know, wait, but I need you to come back.
    0:31:36 I want you.
    0:31:38 The anxious person removes themselves
    0:31:40 and then the avoidant comes closer.
    0:31:42 And it’s just this cycle that repeats itself
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    0:31:46 – Let’s hold that thought
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    0:36:17 (bell dings)
    0:36:24 – Let’s move on to the state of modern dating.
    0:36:26 I think the answer is obvious that it’s online,
    0:36:30 but how has the way that people meet changed over time?
    0:36:32 And what are your thoughts about that?
    0:36:33 – Great topic.
    0:36:36 So I just recently saw a study done for 2024
    0:36:39 that 71% of couples, I think it was 68 or 71,
    0:36:43 I can’t remember exact, but anywhere between 68 to 71,
    0:36:44 majority meet online.
    0:36:46 And it was like a poll and they showed over the years
    0:36:49 from the 50s to now how it changed, right?
    0:36:51 How everything drastically changed.
    0:36:55 So knowing 68 to 71% of people are meeting online,
    0:36:57 that’s a huge statistic to look at.
    0:36:59 But you know what also is on the rise,
    0:37:04 48% increase on event bright for singles events.
    0:37:07 So what we’re seeing is, yes, people are still meeting online,
    0:37:10 but now we’re getting into a time where people are looking
    0:37:11 for human interaction again.
    0:37:14 They’re searching for it, they’re hungry for it.
    0:37:16 Girl, I can’t tell you in LA how many events I’ve gone to,
    0:37:18 where it’s like, it’s a singles night,
    0:37:21 it’s a dating event of meeting in person.
    0:37:24 We have to look at this as with every pro, there comes a con.
    0:37:27 I am so tired of hearing online dating ruined everything.
    0:37:29 Well, that’s like saying the internet ruined everything.
    0:37:32 No, the internet brought a lot of beauty,
    0:37:35 but it also brought a lot of chaos with good comes bad.
    0:37:38 And I think what I see is our phones
    0:37:39 are little drug machines, right?
    0:37:41 It’s a dopamine reward system.
    0:37:42 And for anyone who’s not familiar,
    0:37:44 dopamine comes in anticipation of.
    0:37:47 So our cortisol will spike in stress,
    0:37:49 and then our dopamine gets depleted
    0:37:52 because the brain needs it for the cortisol that’s happening.
    0:37:55 So we’re constantly seeking more, more, more.
    0:37:56 It’s a slot machine.
    0:37:57 So it’s the same effects that happen
    0:37:59 when you walk into a casino.
    0:38:02 So what I look at is, I met my partner on hinge.
    0:38:04 So who am I to say that dating apps are the enemy?
    0:38:06 I’ve had great success on that aspect,
    0:38:10 but I’ve also met a ton of terrible people on there.
    0:38:11 I think what we have to look at is,
    0:38:13 what are the reasons that people don’t want
    0:38:14 to try dating online?
    0:38:16 What I hear normally, I’m curious what you hear
    0:38:18 in your community is, I hate this,
    0:38:20 it makes me uncomfortable, I don’t like it.
    0:38:23 And my response to them is, then do it.
    0:38:24 Because stop trying to avoid things
    0:38:25 that make us uncomfortable.
    0:38:28 It’s okay that you don’t like how you feel,
    0:38:29 but then we have to look and say,
    0:38:31 is that because I have expectations on this?
    0:38:34 Am I putting way too high of an expectation on a dating app?
    0:38:36 It is my life revolving around
    0:38:38 if someone chooses me off this app.
    0:38:41 It’s just another modality of meeting people
    0:38:42 because here’s the other side of the coin.
    0:38:45 Okay, fine, you want to meet someone in person, right?
    0:38:46 So are you cool with rejection?
    0:38:49 Are you cool with someone saying to your face, no thank you?
    0:38:50 Are you cool with a girl saying,
    0:38:52 I have a boyfriend and walking off?
    0:38:54 Are you going to go up and talk to people?
    0:38:56 And if your answer is no,
    0:38:58 well then the apps are there to help you.
    0:39:00 So that’s why I think there is a positive
    0:39:02 and negative with every regard.
    0:39:05 I see it as you need to be a better buyer.
    0:39:07 I’m not gonna blame the apps because they’re shitty people.
    0:39:09 That’s not the apps fault that I went on a date
    0:39:11 with someone that’s not great
    0:39:13 because I didn’t vet this person enough.
    0:39:14 So we can only blame the apps.
    0:39:17 Of course, listen, are they there to make money?
    0:39:20 The casino always wins, but that’s also me.
    0:39:21 I do have agency and control
    0:39:25 on how I interact with this piece of technology.
    0:39:27 – Okay, I want to go deep on this.
    0:39:29 I’m in this game right now, you know?
    0:39:30 I’m in the game.
    0:39:34 So I was with somebody for 10 years
    0:39:37 and I missed the whole online dating thing.
    0:39:40 And so when I got into online dating,
    0:39:42 I didn’t even know how to swipe right, left.
    0:39:44 I didn’t know what I was doing.
    0:39:47 And at first it was really exciting
    0:39:50 and now it’s become like I’m burnt out from it.
    0:39:52 So like my experience when I first started
    0:39:54 versus being on the apps for a while
    0:39:57 has changed very drastically.
    0:39:59 Right now, when I go on the apps,
    0:40:01 sometimes I feel like it’s so vain.
    0:40:03 I’m like, oh, this guy’s not smiling.
    0:40:05 His teeth are probably busted.
    0:40:08 Next, you know, oh, this guy is five nine.
    0:40:11 I can only do five 10 and higher next, you know?
    0:40:13 And so I’m just so ruthless.
    0:40:16 And I feel like in person, if somebody five nine
    0:40:19 came up to me and he was cute and great and successful,
    0:40:20 I’d give him a chance.
    0:40:21 But because it’s the app, I’m like,
    0:40:24 oh, you know, I’d rather have five 10, right?
    0:40:25 So talk to us about that.
    0:40:29 How can we get out of this vanity cycle
    0:40:33 that we’re in on the apps where it’s just a looks contest
    0:40:36 and checking all these criteria that really don’t matter?
    0:40:37 – Oh, okay.
    0:40:38 I’m five eight, so I’m a heightest.
    0:40:40 I’m the same, my partner’s six five.
    0:40:41 So to me, I’m like,
    0:40:44 I think we’re allowed to have some aspects of,
    0:40:45 like my partner, he says, he’s like,
    0:40:46 I can’t date a girl shorter than five eight
    0:40:48 because he’s like, and then it feels very uncomfortable.
    0:40:50 My back hurts, I feel like it’s my child.
    0:40:52 I don’t really like that.
    0:40:55 So I think there is a level of like an 80/20 rule.
    0:40:56 What’s the 80% that you need?
    0:40:58 So if you’re saying, hey, height is really important.
    0:40:59 I’m five eight, I wear heels all the time.
    0:41:02 I don’t like my partner being shorter.
    0:41:03 You’re allowed to have a need.
    0:41:04 You’re allowed to say that’s something
    0:41:06 that’s important to me.
    0:41:07 But that’s where we have to look and like you,
    0:41:10 to your point, am I being so rigid?
    0:41:12 And so everything’s giving me an ick
    0:41:14 that I’m almost pushing people away, right?
    0:41:17 And so what I would look at is,
    0:41:20 what I personally did was I needed to find
    0:41:22 whether I was gonna say no to someone
    0:41:24 or yes to someone, two to three reasons
    0:41:25 as to why I would say yes or no.
    0:41:28 So if I’m swiping left, if I’m looking and going,
    0:41:29 I don’t like their height.
    0:41:31 But if that’s it, I’ll go,
    0:41:32 okay, that’s not enough of a reason.
    0:41:34 Fine, I’ll give this person a try.
    0:41:36 But if I say, oh, vice versa.
    0:41:38 Ooh, I wanna match with this person.
    0:41:39 They’re six, four.
    0:41:41 Is there any other reason I wanna match with them?
    0:41:43 No, their prompts are stupid.
    0:41:44 Other photos look really lame.
    0:41:46 Okay, so then what am I matching with this person for?
    0:41:49 And I think what it comes to is that self-awareness
    0:41:52 of what is it that’s a non-negotiable for me, right?
    0:41:53 You’re allowed, fine, you wanna have height
    0:41:55 as a non-negotiable, I’ll give it to you.
    0:41:57 You wanna have hair color, right?
    0:41:58 You’re allowed to have things
    0:42:00 that make you feel turned on by somebody.
    0:42:03 But we wanna look at and say, am I super rigid?
    0:42:05 Is there no flexibility on this?
    0:42:08 I’ve dated guys that are five, eight, and they’re fantastic.
    0:42:10 There were other reasons it didn’t work out.
    0:42:12 And so I think when it comes to apps,
    0:42:14 it’s natural that it’s going to be.
    0:42:16 The average person makes their decision
    0:42:19 within four seconds of an app.
    0:42:20 You have all but seconds to decide
    0:42:21 if you wanna see somebody.
    0:42:24 But I’d argue to say similar in person, right?
    0:42:27 I’ve dated in New York where I’d go to a bar.
    0:42:29 If I look and go, oh, I’m not attracted.
    0:42:29 I walk off.
    0:42:31 If this guy tries to talk to me, no, thank you.
    0:42:33 I don’t want it.
    0:42:35 So I think there is an element of reality
    0:42:37 that yes, of course, are there vibe checks?
    0:42:38 Like my partner’s not my type.
    0:42:40 Not that he’s not attractive.
    0:42:42 He’s just not the same guy I always went for.
    0:42:44 That’s why I chose him because I said,
    0:42:45 oh, what am I saying no to?
    0:42:47 I said, oh, just because he’s not my type,
    0:42:48 that’s not enough of a reason for me
    0:42:49 to say no to this person.
    0:42:51 So I matched with him.
    0:42:51 And like, here’s the thing.
    0:42:54 If you’re unsure, do a FaceTime vibe check, right?
    0:42:56 If you’re like, oh, he’s a little short,
    0:42:58 but maybe he has a great personality.
    0:43:00 I’ll do a FaceTime with him before I go out with him.
    0:43:02 You can bucketize people into,
    0:43:04 I’ll do FaceTimes with these people,
    0:43:06 but I’ll go out with these people.
    0:43:07 What we want to look at is,
    0:43:09 am I saying no to people because I’m being rigid
    0:43:11 or am I saying no to people
    0:43:12 because they genuinely don’t align
    0:43:15 with what it is that I feel like I want or need?
    0:43:17 – I think that makes a lot of sense.
    0:43:19 But I think I’m in a different situation.
    0:43:21 I’m only five foot, right?
    0:43:22 And I…
    0:43:24 (laughing)
    0:43:26 But all the past guys that I’ve dated
    0:43:29 are six, three, six foot over six foot tall.
    0:43:32 And so I feel like it’s actually ridiculous
    0:43:35 for me to have some sort of height requirement.
    0:43:38 So in general, I guess, does that just mean I’m too picky?
    0:43:40 Like, what are your thoughts about that?
    0:43:42 – What I would say is we would also start
    0:43:43 with a little bit of compassion of,
    0:43:46 there’s nothing wrong with me that I like these tall men,
    0:43:48 but I would be curious then to ask you,
    0:43:50 what does their height represent to you?
    0:43:53 Is it that you feel safe and secure with somebody?
    0:43:54 This is creepy, but is your dad tall?
    0:43:56 Like my dad, six, three.
    0:43:58 So I always thought that a bigger man
    0:44:00 was something I felt more attracted to.
    0:44:02 What does the height represent, right?
    0:44:04 Is it security, safety?
    0:44:05 We have to look at that as,
    0:44:07 what am I putting on the height as,
    0:44:09 what does that mean to me?
    0:44:10 For me personally, it’s because I wear heels.
    0:44:13 I don’t wanna be shorter than my partner all the time.
    0:44:14 And it made me feel better knowing
    0:44:16 that I have a bigger person than me.
    0:44:19 That was more attractive to me personally.
    0:44:19 But that’s a me thing.
    0:44:22 So I’m curious, Hala, for you, when you hear that.
    0:44:24 – I mean, my dad wasn’t really tall.
    0:44:26 I think it has to do with my first boyfriends.
    0:44:27 We’re all very tall.
    0:44:29 I’m just used to it.
    0:44:31 And I sort of have like Napoleon syndrome
    0:44:34 where with heels I’m five, four, five, five,
    0:44:36 but I’m a very outgoing person.
    0:44:38 I feel five, nine, five, 10.
    0:44:39 And when I’m with somebody,
    0:44:41 even my girlfriends that are tall,
    0:44:43 I feel just as tall as them.
    0:44:44 Like I don’t feel shorter than them.
    0:44:46 So I think it’s just a little bit
    0:44:48 of Napoleon syndrome going on.
    0:44:49 – Here’s the thing.
    0:44:51 The beauty of the awareness that you have.
    0:44:52 Okay, that’s something that I do.
    0:44:54 That way, when you’re on the apps,
    0:44:55 if you’re gonna say, notice someone and you’re like,
    0:44:58 wait, Hala, you’re only doing this ’cause he’s short.
    0:44:59 He’s really attractive, he’s cool.
    0:45:01 I like a lot about him.
    0:45:03 That is how you can start to make different choices
    0:45:05 for yourself and say, okay,
    0:45:07 me chasing the guys that are above six feet
    0:45:08 hasn’t gone anywhere.
    0:45:09 Let me give this a try.
    0:45:11 If it works cool and if it doesn’t, it doesn’t.
    0:45:14 That’s that flexibility that we start to incorporate of,
    0:45:16 I’m allowed to say I want someone taller than me,
    0:45:19 but since I’m five feet, most people are going to be.
    0:45:21 That’s, I think, where we can start to look and say,
    0:45:22 great, let me try a new experience.
    0:45:24 Let’s try matching with someone that’s five, nine
    0:45:26 and see how you feel when you go out with them.
    0:45:27 Is it their height that bothers you
    0:45:29 or are there 40 other things about them you don’t like?
    0:45:31 – What do you think about writing a list
    0:45:33 about everything that you want in a person
    0:45:35 and ranking people based on that?
    0:45:38 ‘Cause that’s something that I’ve done as I’ve been dating.
    0:45:40 – Not a fan of lists because then that’s rigidity.
    0:45:43 What I would suggest, ’cause a lot of people,
    0:45:44 my brother’s whole thing has always been
    0:45:45 burn your fucking checklist.
    0:45:47 He’s like, it’s not getting you anywhere.
    0:45:50 What I would suggest is focus on how do I wanna feel
    0:45:51 when I’m with this person?
    0:45:54 For instance, I wanna feel seen, heard and understood.
    0:45:55 What’s that gonna mean, right?
    0:45:56 If I wanna feel that with someone,
    0:45:57 wow, that feels so secure.
    0:46:00 So what I’m looking for is someone that’s compassionate
    0:46:02 because for me to feel seen, heard and understood,
    0:46:03 I need compassionate empathy.
    0:46:06 I need someone that loves access service.
    0:46:07 So that’s what I would look at is how I wanna feel
    0:46:09 because you could meet someone and go,
    0:46:10 they check all my boxes, right?
    0:46:12 They’re tall, they’re successful, they’re fun.
    0:46:15 They do all of these things, but yet I’m not feeling it.
    0:46:16 Well, it could be I’m not feeling it
    0:46:18 ’cause I’m so used to dysfunction, right?
    0:46:21 I am that when I meet someone that’s secure,
    0:46:22 oh, it feels off.
    0:46:23 So they check all the boxes,
    0:46:26 but I wanna look at how do I wanna feel with this person?
    0:46:27 ‘Cause you could meet someone
    0:46:28 that doesn’t check those boxes and go,
    0:46:31 holy shit, I feel amazing with this person.
    0:46:33 That’s what I wanna look at and focus on is,
    0:46:35 I wanna feel reciprocated.
    0:46:36 I wanna feel consistency.
    0:46:40 I wanna feel that this person prioritizes me
    0:46:40 in their life, right?
    0:46:42 Or that dating is a priority.
    0:46:45 That I think is something more concrete
    0:46:47 versus I want all of these boxes
    0:46:49 that maybe somebody doesn’t have them,
    0:46:51 doesn’t mean they’re not still a great match for you.
    0:46:54 As I’ve been dating, I’ve got a big company,
    0:46:56 I have 60 employees.
    0:47:00 It’s so much time to like go through all these matches,
    0:47:02 to have all these conversations,
    0:47:05 to then go on a first date and maybe a second date.
    0:47:08 How do we prioritize our time better?
    0:47:10 How do you suggest that we manage
    0:47:11 going through our matches?
    0:47:15 How do you suggest that we spend time getting to know people
    0:47:17 and just making sure that we’re not wasting our time?
    0:47:18 Because sometimes I’m on a first date
    0:47:20 and in the first 20 minutes,
    0:47:21 I’m like, why the hell did I do this?
    0:47:23 Like I knew in my gut,
    0:47:25 I shouldn’t have come on this date and I regret it.
    0:47:27 So talk to us about that.
    0:47:27 – Well, that right there,
    0:47:29 what you just said is beautiful, my God, right?
    0:47:32 It’s listening to that softer voice.
    0:47:34 So for me, when I was running software,
    0:47:36 I was running a million dollar business alone.
    0:47:39 So as you can imagine, I was swamped, right?
    0:47:42 What I would do personally is I had
    0:47:44 very strict boundaries around my time.
    0:47:47 Okay, I allow myself once a week to go out on a date, right?
    0:47:49 Or once or twice a week, I have a couple of times
    0:47:51 because the point is dating is an addition to your life,
    0:47:52 it’s not instead of.
    0:47:54 So we do need to open up space.
    0:47:56 It can’t be every week where you’re like,
    0:47:57 well, I have my girlfriends on Monday,
    0:47:58 I have a work meeting Tuesday, Wednesdays,
    0:48:00 my bingo night, sorry, I don’t have time.
    0:48:02 It’s like, you don’t have time to date, right?
    0:48:04 We have to be open and receptive to that.
    0:48:06 But at that same token,
    0:48:09 we have to also be cognizant of just that.
    0:48:10 What is my gut telling me?
    0:48:12 What is my reasoning for going out with this person?
    0:48:14 If you’re saying, listen, I haven’t gone out on a date,
    0:48:17 I just want to get dressed up and go out and go have fun.
    0:48:19 But for you, I would say because you’re so swamped,
    0:48:22 coffee dates, coffee dates are huge for me.
    0:48:24 I love a coffee date because what you could say is,
    0:48:26 hey, I’m about to go run an errand.
    0:48:27 Why don’t you come meet me for 25 minutes?
    0:48:28 Let’s see if we have something here.
    0:48:30 If we do, then we could go to dinner, right?
    0:48:33 That’s you respecting your time and boundaries
    0:48:36 and saying, I just want to do a quick vibe check,
    0:48:37 FaceTime vibe check, right?
    0:48:38 Let’s have a conversation on FaceTime.
    0:48:40 Wow, you’re funny, okay, cool.
    0:48:43 I’d like to meet you versus, oh, no, thank you.
    0:48:46 I’m not into this because at the end of the day,
    0:48:47 you set the boundaries, right?
    0:48:50 You prioritize how often you spend on work.
    0:48:52 You prioritize how your friendships are.
    0:48:53 It’s just another priority.
    0:48:55 And if you’re telling me, well, I don’t prioritize that,
    0:48:56 it’s like, well, then there you go.
    0:48:59 You’re not ready for a relationship, it’s okay.
    0:49:02 – Now, I feel like coffee dates aren’t sexy.
    0:49:04 I feel like it’s just not sexy.
    0:49:06 And I just feel like I don’t think that’s a great way
    0:49:10 to kick off a romantic relationship.
    0:49:11 – Which is fine.
    0:49:12 Listen, you’re allowed to believe anything you want.
    0:49:14 I will never try to dissuade you.
    0:49:16 But what I would say is then you’re chasing a feeling.
    0:49:18 You want, I wanted to feel sexy.
    0:49:19 I wanted to feel this.
    0:49:21 But the reality is that is gonna fade.
    0:49:23 That’s not gonna last forever.
    0:49:25 So what we wanna see is if I just show up
    0:49:27 in a workout outfit, looking like this,
    0:49:30 and you and I have a great fucking conversation over coffee,
    0:49:33 that is more important than I got all dressed up.
    0:49:34 He took me to this amazing dinner,
    0:49:36 but then I never heard from him again
    0:49:38 because it’s performative, right?
    0:49:39 And so that’s why I would say,
    0:49:41 do what feels comfortable for you,
    0:49:43 but for me personally, that was me respecting my time.
    0:49:44 Hey, I’m gonna go walk the dog.
    0:49:45 Why don’t you join me?
    0:49:48 Because if I can’t just go on a walk with you
    0:49:49 and have a good conversation,
    0:49:51 then what relationship are you and I gonna build?
    0:49:54 Because if I’m focused on, well, I wanna feel the spark
    0:49:56 and I wanna feel this excitement,
    0:49:57 that’s the first thing that’s gonna go.
    0:49:59 And then all of a sudden, we wonder why people go,
    0:50:01 but in my relationship, I’m bored.
    0:50:03 Which, how I say this with love,
    0:50:05 but given what you shared about earlier,
    0:50:07 that high and low, that’s I think why,
    0:50:09 is ’cause you wanna feel that excitement
    0:50:10 so that it’ll keep going,
    0:50:12 but then you notice how eventually it’s gonna come down.
    0:50:14 And so we wanna find a baseline,
    0:50:17 something that feels just common secure.
    0:50:18 The reason I bring up coffee dates
    0:50:19 is because of the timing thing.
    0:50:21 If you were like, oh, I’m not running a business,
    0:50:23 I got plenty of time, I got all these nights,
    0:50:24 I could go out to dinner.
    0:50:25 Great, do what feels comfortable.
    0:50:28 But then we hear the, well, I got ready
    0:50:29 and I did my makeup and my hair
    0:50:31 and this person never called me back.
    0:50:33 It’s like because no one owes you anything.
    0:50:36 And so that’s me respecting my time and my boundaries,
    0:50:37 saying you don’t owe me anything
    0:50:38 and I don’t owe you anything.
    0:50:40 Let’s meet at Aero On for 30 minutes.
    0:50:41 Let’s have a quick jive.
    0:50:42 If we get it, great.
    0:50:44 I’d love to go to dinner with you and if not,
    0:50:46 that’s cool too, have a good day.
    0:50:49 So I made up a rule for myself because I’m really busy
    0:50:52 and I found myself going on like four dates in a week
    0:50:55 and it just felt really not great
    0:50:56 and I was getting burnt out.
    0:50:59 And so I was like, okay, I have a new rule.
    0:51:03 First dates, I’ll only do on Fridays or Saturdays,
    0:51:06 which means that they have to wanna go out on a Friday
    0:51:08 and Saturday and reserve those days for me
    0:51:09 and same with me.
    0:51:12 And it helps me process whether I actually really wanna go
    0:51:13 on this first date or not,
    0:51:15 that I’m willing to give up a Friday or a Saturday.
    0:51:17 And then second, third dates can be during the week
    0:51:19 and more casual and stuff like that.
    0:51:22 Do you feel like that’s a good idea?
    0:51:24 – I think if that helps you feel
    0:51:27 like you can manage your schedule, sure.
    0:51:28 I think there’s also an element of reality.
    0:51:30 I’m sure that you’re not so rigid
    0:51:31 that if you met someone that you really liked
    0:51:33 and they’re like, hey, I’m so sorry, I can’t do Friday,
    0:51:34 could you do Thursday?
    0:51:37 You’re like, okay, fine, I can make an exception, right?
    0:51:39 Like, especially if there’s somebody really great.
    0:51:42 That’s, I think it is really just about feeling
    0:51:43 in control of your dating life.
    0:51:44 And that’s okay.
    0:51:45 If you’re like, hey, I do my first dates
    0:51:46 on a Friday or Saturday that way,
    0:51:47 I don’t have to worry about work.
    0:51:50 Absolutely, that’s a boundary that you’re setting.
    0:51:51 The other alternative could be,
    0:51:55 I also leave a Tuesday at six o’clock just for me
    0:51:56 because I don’t do late nights.
    0:51:59 For me, like, I’m up at five a.m. every morning.
    0:52:01 I can’t be out, I don’t drink alcohol.
    0:52:03 I don’t wanna do that whole thing.
    0:52:05 So I am gonna do an earlier date,
    0:52:07 but it’s a really great way to see because here’s the beauty
    0:52:09 about what I like about what you’re doing
    0:52:11 is you’re setting a boundary saying,
    0:52:12 hey, I can only go out Friday.
    0:52:13 Somebody that respects you will say,
    0:52:14 cool, let me make it happen.
    0:52:17 Or, hey, Hala, I’m so sorry, can I do Thursday, right?
    0:52:18 You can have a conversation.
    0:52:21 Versus, if you say that and they’re like, wow,
    0:52:24 hi, maintenance, no, thank you, goodbye, right?
    0:52:27 You get to see when I scratch the surface a little bit
    0:52:30 and I say no to you, how does that person show up?
    0:52:32 So something else you alluded to
    0:52:35 was not really paying so much attention to the spark.
    0:52:37 A lot of people, they’re like, okay,
    0:52:41 I need to feel a spark or this is not really it.
    0:52:43 And I’m definitely one of those people.
    0:52:46 I feel like all my relationships, it’s either like we meet
    0:52:48 and then we’re like together for years,
    0:52:52 but after the first date, you know, or it’s like we meet,
    0:52:54 I don’t feel a spark and I’m out.
    0:52:56 So talk to me about sparks
    0:52:58 and how we should think about them.
    0:53:00 – Totally, okay, so my question back would be,
    0:53:01 and how has that worked?
    0:53:02 – Yeah, not great.
    0:53:06 – So scientifically, right?
    0:53:07 This isn’t me just making shit up.
    0:53:08 This is an actual study.
    0:53:10 If you Google anybody that wants to Google
    0:53:11 the spark by Harvard, that’s it.
    0:53:13 It had come up to the 2015.
    0:53:17 One friend, Scott, he is a doctor, like a psychologist,
    0:53:18 and he calls them the trauma tangles
    0:53:21 because scientifically what they’ve seen is the spark
    0:53:24 is just your nervous system giving blood to your,
    0:53:27 I call them the phalanges, but to your hands and your feet
    0:53:28 so that you could run.
    0:53:30 Because there’s something that your body is recognizing
    0:53:32 that feels familiar.
    0:53:34 So you felt the spark with these guys and you look back
    0:53:36 and you’re like, yeah, they were all abusive
    0:53:38 or whatever, not abusive but controlling
    0:53:41 or this or that, right, whatever, insert this word
    0:53:43 because what ends up happening is, let me ask you this,
    0:53:44 the spark, right, you feel that.
    0:53:46 If you weren’t attracted to that person,
    0:53:48 you’d probably be like, I need to get out of here.
    0:53:50 Something feels off, I feel this intensity,
    0:53:52 I’m dysregulated, I don’t feel safe here.
    0:53:55 The problem is we see someone attractive and go,
    0:53:57 oh my God, it’s a sign.
    0:53:59 What we wanna look at is we want your nervous system
    0:54:01 to feel regulated.
    0:54:03 We want your nervous system to feel safe with this person
    0:54:05 and that means that the spark isn’t gonna be present.
    0:54:07 That doesn’t mean you can’t have attraction.
    0:54:09 When I first met my partner, I felt nothing,
    0:54:11 no spark, nothing.
    0:54:12 And I just thought he’s a nice guy,
    0:54:14 I’ll keep getting to know him and we went on a hike.
    0:54:15 We went for like three hours
    0:54:16 and it was like this beautiful hike
    0:54:17 of this neighborhood, whatever, whatever.
    0:54:18 And then after he said, listen,
    0:54:20 I’d love to take you to dinner.
    0:54:22 If you’re open to it, if not totally understand,
    0:54:23 we could part ways.
    0:54:25 And I said, you know what, let me give him a try.
    0:54:27 He didn’t do anything wrong, he’s adorable.
    0:54:28 I’m just not feeling it.
    0:54:29 And sure enough, we went back to his house
    0:54:30 to drop off the dog.
    0:54:32 We both got changed and we walked out.
    0:54:35 I was like, oh, he’s way cuter than I thought he was.
    0:54:39 And he came and kissed me and all of a sudden I felt it.
    0:54:41 I was like, oh, I like this.
    0:54:45 And we ended up hooking up and fast forward, here we are.
    0:54:46 We went to dinner after,
    0:54:48 I never have felt the spark with him
    0:54:50 because my nervous system has always felt very safe with him
    0:54:52 because he’s not inconsistent.
    0:54:54 He’s not doing any of those things.
    0:54:58 He’s being very upfront, consistent, safe, reciprocal.
    0:55:00 He communicates and that’s different for me.
    0:55:03 And the thing is the spark often is familiarity.
    0:55:05 Notice how you went after all these men
    0:55:06 and what did you say earlier?
    0:55:07 They reminded me of my dad
    0:55:09 because that’s what the spark leads us to
    0:55:11 is that people that feel familiar
    0:55:14 that are often end up usually hurting us
    0:55:15 because we’re chasing a feeling
    0:55:18 and when that feeling fades, what do you have left?
    0:55:21 – We’ll be right back after a quick break from our sponsors.
    0:55:24 Yeah, fam, if you’re anything like me,
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    0:55:29 to spend all your time managing finances,
    0:55:32 budgeting, invoicing and tax prep,
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    0:55:38 My COO Jason is great at the finance stuff,
    0:55:40 but even he doesn’t wanna switch
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    0:57:01 I wanna talk about trends for a bit
    0:57:06 and ghosting is something that’s really interesting.
    0:57:07 Something that happens a lot.
    0:57:09 And I think it’s really the advent of online dating
    0:57:13 because when I first got into online dating,
    0:57:15 I didn’t understand the ghosting thing.
    0:57:16 You know, I’d message somebody,
    0:57:19 they wouldn’t message me back, not very often,
    0:57:20 but I’d be like, this is so weird.
    0:57:21 Why are people like this?
    0:57:24 And then now I do the same thing.
    0:57:25 I do it all the time.
    0:57:27 I’m ghosting everyone all the time.
    0:57:31 So talk to us about why you think ghosting is a thing
    0:57:34 and do you feel it is wrong to ghost people
    0:57:35 even in the early stages?
    0:57:37 I just did a video recently of like,
    0:57:39 instead of ghosting, say this, one mega viral,
    0:57:43 like 11 million, I got thousands of comments polarizing.
    0:57:46 One being like, yes, thank you, this is it, maturity.
    0:57:47 Yes, please be honest.
    0:57:49 And then the other side of the internet,
    0:57:51 I’d rather get ghosted, ghosting’s easier.
    0:57:53 I don’t owe anybody anything, right?
    0:57:55 So we look at the emotional maturity,
    0:57:58 but off the bat, let’s talk about what ghosting is.
    0:58:01 By definition, ghosting means an abrupt ending
    0:58:03 in a relationship.
    0:58:04 That’s the key word here.
    0:58:07 So that means we have to build some kind of rapport.
    0:58:09 To me, the, I haven’t answered on an app,
    0:58:10 that’s not ghosting to me.
    0:58:12 You don’t know who this person is.
    0:58:13 You have never met this person.
    0:58:15 You don’t owe these people anything.
    0:58:17 And that to me means expectations, right?
    0:58:19 If I say, well, what the hell?
    0:58:20 This person ghosted me on an app.
    0:58:22 It’s like, why are you expecting some stranger
    0:58:25 on the internet to owe you anything?
    0:58:27 They might not even be real, right?
    0:58:29 Catfishing is so huge.
    0:58:30 They’re bots, right?
    0:58:33 And also there’s a reality that I don’t know who you are.
    0:58:35 I’ve talked to you for a day.
    0:58:36 I don’t owe you anything.
    0:58:37 Maybe you said something that was a huge turnoff
    0:58:40 and I was just like, I’m good, I’m out, right?
    0:58:42 And so then what I see, the people that are like,
    0:58:44 I can’t believe they ghosted and they messaged 1,000 times.
    0:58:47 It’s like, that’s probably why this person said, no, thank you.
    0:58:48 I’m kind of the same.
    0:58:49 Listen, let’s say you have a first date.
    0:58:51 No one texts each other after.
    0:58:52 That’s not ghosting.
    0:58:53 No one said anything.
    0:58:55 You move on with your life.
    0:58:56 You don’t owe anyone anything.
    0:58:59 To me, where the ghosting starts to play in is,
    0:59:01 you’ve spent time with this person, right?
    0:59:02 You’ve spent time with this person
    0:59:05 and they’re texting you like, hey, I’d love to see you again.
    0:59:06 You just never hear back.
    0:59:09 You could have just said that you’re not interested, right?
    0:59:11 But I think you have to have a rapport that’s built
    0:59:14 before you can say this person ghosted me.
    0:59:16 Because we have to remember too, ghosting,
    0:59:18 what does it do to our psyche?
    0:59:19 If I’m saying everyone ghosts me,
    0:59:21 that means I’m not going to trust people.
    0:59:23 I’m going to start to feel, oh, I don’t believe, right?
    0:59:26 Then I have a different energy versus they didn’t answer.
    0:59:28 Oh, well, thanks for doing me the favor.
    0:59:30 I didn’t waste any more of my time.
    0:59:33 And so for those of us who have been dating
    0:59:35 and feel burnt out from it all,
    0:59:37 what advice do you have for us?
    0:59:39 What should we be doing in terms of our mindset
    0:59:43 or our thoughts to try to get out of being burnt out?
    0:59:44 Couple of things.
    0:59:46 One, take a break.
    0:59:47 You have every right to say,
    0:59:48 ugh, I don’t want to date right now.
    0:59:49 I need to take a minute.
    0:59:50 I’m exhausted, right?
    0:59:53 Take some time, but on top of that.
    0:59:54 So then we start to go in and say,
    0:59:57 let’s start to talk about what’s causing the burnout.
    0:59:59 Is it that I say I’m going on a thousand dates
    1:00:00 and I’m not getting second dates?
    1:00:02 Okay, I need to become a better buyer then
    1:00:04 because I’m going on way too many first dates
    1:00:07 and not really vetting these people well.
    1:00:09 We kind of have to understand where the burnout really lies.
    1:00:12 So if it’s that, if it’s I’m just tired of the apps
    1:00:14 and feeling disappointed, okay, you know what?
    1:00:15 Let me use them passively.
    1:00:17 Let me see who tries to match with me
    1:00:20 and then I will decide if I want to match with them.
    1:00:23 That way, I don’t feel like I’m being rejected as hard.
    1:00:25 That’s where I kind of go and say,
    1:00:28 start to get curious about what’s the narrative
    1:00:30 that’s being associated with the burnout?
    1:00:32 Is it that I don’t feel like anyone’s ever gonna like me?
    1:00:34 Nobody, oh God, everybody good is taken.
    1:00:36 Oh, okay, I have black and white thinking, right?
    1:00:39 There’s no facts to back up that every good person is taken.
    1:00:41 There’s a lot of good people getting divorced, right?
    1:00:43 There’s a lot of good people breaking up too.
    1:00:45 There’s an evolution, there’s a cycle.
    1:00:47 So we have to look and say, am I being rigid?
    1:00:49 Am I having black and white thinking
    1:00:51 that’s causing me to reaffirm my core beliefs?
    1:00:52 There’s something wrong with me?
    1:00:55 Oh, okay, maybe that’s why I’m feeling burnt out.
    1:00:56 I’m being so hard on myself.
    1:00:58 I’m not having any compassion.
    1:01:00 Or is it because, like I said, you’re not being a better buyer.
    1:01:02 You’re going out with anybody that gives you the time of day.
    1:01:03 Oh, you know what?
    1:01:04 I need to have better boundaries.
    1:01:05 This doesn’t work for me.
    1:01:07 Is it ’cause I’m overgiving, right?
    1:01:09 I meet somebody on one date and I’m ready on buying them gifts
    1:01:11 and I’m trying to do everything to get them to like me.
    1:01:12 I need to pull it back.
    1:01:13 That’s exhausting.
    1:01:15 I’m not having reciprocity.
    1:01:17 So I think it’s about just understanding
    1:01:19 where we fall on that, getting curious with ourselves
    1:01:21 and then understanding what are boundaries and parameters
    1:01:24 I can put so that I feel comfortable.
    1:01:26 Coffee dates or one date a week, right?
    1:01:29 Those are beautiful boundaries for yourself to say,
    1:01:30 I’m going to protect my mental health,
    1:01:33 but I’m also still going to remain open and receptive
    1:01:34 because I do want a relationship.
    1:01:38 I think a lot of people who are single listening to this show
    1:01:41 are in their 30s, in their 40s,
    1:01:44 and they have specific goals, family goals.
    1:01:45 When do you think is the right time
    1:01:48 to bring up those types of topics?
    1:01:51 First date, first date, because here’s the reality.
    1:01:53 I’m not saying first date, you have to start talking about,
    1:01:54 okay, I’m going to have six children.
    1:01:56 We’re going to have a house in the cottage, in the woods,
    1:01:57 and we’re going to, no, no, no, no.
    1:01:59 But if I’m going on a date with you,
    1:02:01 and I know, okay, I’m 34, right?
    1:02:02 Me personally, I’m 34.
    1:02:04 If I were dating right now, I don’t want children.
    1:02:05 So to me, it’s not an issue.
    1:02:07 But if I wanted children, I’d go, okay, Zohar,
    1:02:09 you got like two, three more years
    1:02:12 before this becomes geriatric, it already is,
    1:02:14 before it becomes more dangerous for your health.
    1:02:15 So that means on a first date,
    1:02:16 the first thing I’m going to say is,
    1:02:17 hey, I’m super intentional.
    1:02:20 I want marriage and family, does that align with you?
    1:02:21 Because if the guy goes, no, I’m good,
    1:02:22 I don’t want any more children, great,
    1:02:24 I don’t need to hang out with you again, no, thank you.
    1:02:27 Right, it’s not about having a checklist
    1:02:29 that you’re like, oh, perfect, you aligned with that.
    1:02:31 It’s about getting curious with somebody.
    1:02:33 I talked to my partner about how’d your last relationship
    1:02:35 ended when I did teach you about yourself.
    1:02:37 I wanted to see if he took accountability.
    1:02:38 I wanted to see if he was going to blame his ex.
    1:02:40 Oh, my ex was crazy.
    1:02:41 Was she?
    1:02:43 Or they, they were crazy, huh?
    1:02:44 Tell me more.
    1:02:45 That’s an interesting, I want to know,
    1:02:46 what are your political views?
    1:02:47 Are you super rigid on that?
    1:02:49 Because if I’m conservative, you’re a liberal,
    1:02:51 or vice versa, we’re only going to have fights,
    1:02:53 this is not going to work.
    1:02:55 That’s the type of shit because we want to understand
    1:02:57 that your time is valuable.
    1:02:58 Let me ask you a question.
    1:03:00 If you had a client come to you,
    1:03:02 you’re going to ask the hard questions off the bat,
    1:03:03 right, hey, what’s your budget?
    1:03:04 How much do you have, right?
    1:03:06 Or whatever, like all of the variables,
    1:03:07 because you don’t want to waste your time.
    1:03:08 It’s the same with dating.
    1:03:10 It makes total sense.
    1:03:11 And I love the questions that you brought up
    1:03:15 to just understand what their last relationships were like.
    1:03:17 And is there any other key questions
    1:03:20 that we should ask to check compatibility?
    1:03:22 The reason I like how did your last relationship
    1:03:24 ended and wanted to teach you about yourself?
    1:03:26 We’re not talking about your ex.
    1:03:28 So it’s not about saying, oh, well,
    1:03:29 my ex was all of these things.
    1:03:30 Okay, I didn’t ask you about them.
    1:03:31 I asked you how it ended,
    1:03:33 and what did you learn about yourself?
    1:03:35 So that right there is a great way to see,
    1:03:36 do they take accountability?
    1:03:36 Are they over their ex?
    1:03:37 Have they moved on?
    1:03:38 Do they process?
    1:03:39 How do they speak about them?
    1:03:41 Another question I love to ask is,
    1:03:44 how do you normally handle disagreements or arguments?
    1:03:45 Are you the type that likes to talk,
    1:03:46 or are you somebody that needs space, right?
    1:03:48 That’ll give me an understanding of
    1:03:51 how do they handle conflict and resolution?
    1:03:52 Where do you see yourself in five years?
    1:03:54 In a perfect world, how would you like this to play out?
    1:03:56 Right, just to understand if they’re like,
    1:03:58 oh, I’m living here and I’m doing this,
    1:03:59 and you’re like, oh, I don’t want to do that.
    1:04:01 I want to live in the country with 10 kids.
    1:04:03 Like this doesn’t align with me.
    1:04:06 Just asking things that are important to you.
    1:04:08 Like what matters to me
    1:04:11 is I want to see how emotionally available you are.
    1:04:13 I want to see how emotionally intelligent you are.
    1:04:14 I’m not going to talk about my family
    1:04:15 probably on the first date
    1:04:17 because I don’t think it’s appropriate to trauma dump.
    1:04:20 So I’m not going to ask you besides anything of like,
    1:04:21 so tell me about your relationship with your parents.
    1:04:23 Are you guys close?
    1:04:25 And if someone says, no, not really, okay, cool.
    1:04:26 Well, hey, I’d love to learn more about that
    1:04:28 as I get to know you further.
    1:04:31 Yeah, and I know that you have green flags
    1:04:33 and red flags that you look for in a partner.
    1:04:35 Could you break that down for us?
    1:04:36 When we look at red flags,
    1:04:39 all red flags are is a pattern of behavior
    1:04:42 that could indicate turmoil in a relationship.
    1:04:43 We hear this all the time.
    1:04:44 Oh, that’s a red flag.
    1:04:46 And you’re like, what’s a red flag about it?
    1:04:47 How is that an indication
    1:04:49 that there’s a problem in the relationship?
    1:04:50 What’s a red flag?
    1:04:51 Someone dismissing me.
    1:04:53 Someone discrediting me.
    1:04:55 A red flag, all my exes are crazy.
    1:04:56 Oh, you don’t take accountability.
    1:04:57 Got it, right?
    1:04:58 Those are red flags.
    1:05:00 They’re like somebody that their words and actions
    1:05:01 aren’t aligning.
    1:05:02 Look, those are true red flags.
    1:05:04 Then we go on to the green flags.
    1:05:06 Green flags could be something so minute
    1:05:08 as they said they were going to call and they called.
    1:05:10 They took me to their favorite restaurant
    1:05:11 and introduced me to the staff.
    1:05:12 That’s a great wow.
    1:05:14 They are trying to bring me part of their life.
    1:05:16 We have to look at green flags are what are things
    1:05:20 that make me say, hey, this feels safe, secure and good to me.
    1:05:20 They’re consistent.
    1:05:22 Consistency means their words and actions align.
    1:05:24 They’re reliable.
    1:05:25 When they say they’re going to do something, they do it.
    1:05:28 Or they communicate that they can’t do it.
    1:05:31 A green flag that often people is actually a red flag
    1:05:34 is like when people say, oh, well, they text me every day.
    1:05:35 That’s not actually good.
    1:05:38 I don’t want someone that’s constantly texting me.
    1:05:39 Good morning.
    1:05:40 How are you?
    1:05:42 I don’t know, you dude, I spent two hours with you.
    1:05:43 Why are you saying good morning to me?
    1:05:44 Who are you?
    1:05:46 That’s where we have to start to look and differentiate
    1:05:49 because green flags, I like to look at it
    1:05:51 as a glimmer to your nervous system.
    1:05:52 What that means is it’s, yay,
    1:05:54 this makes me feel good and safe
    1:05:57 versus a red flag is more of a trigger to your nervous system.
    1:05:58 Ooh, I don’t like that.
    1:05:59 That doesn’t make me feel safe.
    1:06:00 This isn’t a good look.
    1:06:02 That’s what we want to look at is
    1:06:03 when someone tells you something or acts,
    1:06:05 how does it make you feel?
    1:06:07 That’s how you’ll be able to differentiate between,
    1:06:09 is this a red flag for me or a green flag?
    1:06:11 How important do you think physical
    1:06:16 or sexual chemistry is related to green flags, red flags?
    1:06:18 I think it depends on how that fits into your life.
    1:06:20 I know people that are asexual.
    1:06:22 So to them, they’re like, that doesn’t bother me.
    1:06:24 And it’s like, okay, so sex is not a big deal.
    1:06:26 Whereas for me, I slept with my partner on the first date
    1:06:27 ’cause it is huge for me.
    1:06:30 I need that intimacy in my relationship.
    1:06:32 So I think, listen, we’ve all, not all of us,
    1:06:34 but a lot of us have seen love as blind.
    1:06:36 I think we know and acknowledge
    1:06:38 that it takes more than just a great personality
    1:06:40 for us to feel a connection.
    1:06:42 There is also, because for me,
    1:06:44 if I don’t have the physical intimacy,
    1:06:46 that means that this is my roommate, right?
    1:06:47 You’re just a friend of mine.
    1:06:48 That’s what differentiates.
    1:06:50 But to other people that work.
    1:06:53 So, hey, if that works for you, great, that’s fine.
    1:06:54 But we also have to look,
    1:06:56 ’cause now, I don’t know if you’ve heard this too, Hala,
    1:06:57 there’s all these different, like,
    1:07:00 demisexual, sapiosexual, all these new things.
    1:07:02 I get turned on by your mind.
    1:07:04 I get turned on by this.
    1:07:05 There’s gonna be something for everybody.
    1:07:07 So I think it’s about just being true to yourself.
    1:07:10 If physicality is important, don’t kid yourself.
    1:07:11 You don’t need to do charity work
    1:07:13 and date someone ’cause they’re nice to you,
    1:07:15 but you don’t even want them to touch you.
    1:07:15 – I love that.
    1:07:17 I think that’s really great advice.
    1:07:22 So a couple more terms that are, like, hot right now, negging.
    1:07:24 Everybody’s talking about negging.
    1:07:25 I don’t really understand what it means,
    1:07:26 so tell me what it means.
    1:07:28 – Did you remember the book, “The Game”?
    1:07:29 – No.
    1:07:32 – Okay, so, yeah, this was a while ago,
    1:07:34 but it was a guy, I’m a little fuzzy on it,
    1:07:35 but it was this guy, he wrote a book,
    1:07:38 and essentially it’s teaching men
    1:07:39 how to get a woman to be obsessed with you.
    1:07:42 And so he started hanging out with all these players
    1:07:43 and learning their tools.
    1:07:46 And then a lot of men now take that book as, like, gospel.
    1:07:48 Negging is another part.
    1:07:50 So negging is essentially putting you down.
    1:07:52 It’s like a backhanded compliment.
    1:07:55 So they’re putting you down to make you question yourself.
    1:07:56 Negging, for example, could be,
    1:07:59 oh, wow, yeah, you actually do look good in white.
    1:08:02 And you’re like, thank you, right?
    1:08:03 It’s like, it’s a bit of a,
    1:08:05 and then it makes you feel a little insecure
    1:08:07 ’cause you’re like, oh, they’re putting me down,
    1:08:09 but they’re complimenting me.
    1:08:12 What that is is it’s giving the other person the control, right?
    1:08:14 Then they start to break you down as a person.
    1:08:17 Then you’re like, oh, I want your validation.
    1:08:18 So do you not like white on me?
    1:08:21 Because you said, oh, wow, I actually look good in it.
    1:08:22 Do I not normally?
    1:08:24 It starts to make you question your own reality
    1:08:28 and your own, negging is very common in narcissists a lot,
    1:08:30 but it doesn’t have to be somebody who is a narcissist.
    1:08:32 Talk about an overused term.
    1:08:33 Negging could be someone who’s insecure.
    1:08:35 Who thinks if I put her down
    1:08:36 and give her a backhanded compliment,
    1:08:38 she’s gonna want me even more?
    1:08:39 And it’s just not fun.
    1:08:40 This is not good shit.
    1:08:42 Please don’t neg people,
    1:08:44 but it’s just a manipulation tactic
    1:08:47 so that you come out where somebody wants you even more.
    1:08:50 – I know, and I feel like as women,
    1:08:53 especially once we get a little bit older and wiser,
    1:08:55 I was in a situation like that
    1:08:56 where somebody was putting me down
    1:08:59 and I was like, I’m not gonna just stay in this.
    1:09:01 And I was out very quickly.
    1:09:04 So I think you start to realize it really quickly
    1:09:05 if you’re self-aware.
    1:09:08 – Exactly, if you are wildly insecure,
    1:09:10 oh, that’s just gonna feel probably like your parents, right?
    1:09:11 Like, oh, you’re putting me down again.
    1:09:13 Yeah, ’cause there’s something wrong with me.
    1:09:15 But like you said, when you’ve really done the work,
    1:09:16 you’ve come home to yourself and you’re like,
    1:09:18 no, I’m pretty awesome.
    1:09:19 I don’t know what you’re talking about.
    1:09:22 That’s the adult version letting that little you know,
    1:09:25 like I’m not gonna let anyone talk to you like this ever again.
    1:09:26 You don’t deserve this.
    1:09:29 It’s a beautiful act of self-love.
    1:09:31 – So another trend that I see bubbling up
    1:09:33 is this micro-flirting trend.
    1:09:35 What is micro-flirting?
    1:09:38 – It’s all those little like sending an emoji on a story,
    1:09:39 right?
    1:09:42 Like remember back on Facebook when you could poke people?
    1:09:45 Micro-flirting is not being as outward about it.
    1:09:46 And I think, listen, here’s my thing.
    1:09:49 I’m a very blunt, direct go for it type of person.
    1:09:51 So to me, I see micro-flirting as like,
    1:09:53 it’s a soft blow of rejection.
    1:09:55 Oh, I don’t wanna get rejected.
    1:09:56 So let me micro-flirt.
    1:09:57 And if they don’t give me a sign,
    1:09:59 then I don’t have to get rejected.
    1:10:00 If that works for you, fine.
    1:10:03 But to me, it’s like, I’m either gonna do it or I’m not.
    1:10:04 My mama always used to say, she’s like,
    1:10:07 “You’re not half pregnant, you either are or you’re not.”
    1:10:09 So they call it like tapping on the window on insta
    1:10:12 when someone likes all your story, all of your photos.
    1:10:14 And you’re like, okay, I’m pretty sure.
    1:10:16 They’re not being outward cause they don’t wanna be rejected.
    1:10:18 They’re giving just enough to see if you reciprocate
    1:10:20 before they go any further.
    1:10:23 – This reminds me of there was some guy from high school
    1:10:26 that literally likes every single one of my stories.
    1:10:26 And then one day I was like,
    1:10:29 well, are you gonna ask me out on a date or what?
    1:10:30 You know, you’re just gonna keep liking
    1:10:32 every story for two years.
    1:10:34 – And look at how you receiving that.
    1:10:37 You’re like, I’d love for you to just ask me out.
    1:10:39 Do it, but his fear of getting rejected
    1:10:40 is causing him to micro-flirt.
    1:10:41 And you’re like, I don’t want this.
    1:10:43 I want someone that’s gonna come and ask me out.
    1:10:44 – Exactly, exactly.
    1:10:46 Ended up being like a turnoff kind of.
    1:10:49 Have you heard of open-hearted masculinity?
    1:10:51 – Oh God, okay.
    1:10:53 Let’s talk about this.
    1:10:55 The feminine masculine.
    1:10:57 – Now, does it have a place?
    1:10:58 – Yeah, listen, there are feminine qualities.
    1:11:01 There’s masculine, that’s a polarity, right?
    1:11:03 But this open-hearted masculine, it’s like,
    1:11:04 oh, let me guess, you’re just saying,
    1:11:07 be vulnerable and open while still being manly.
    1:11:08 And it’s like, no, okay.
    1:11:10 So then what I would say is who is determining
    1:11:12 what’s masculine and feminine, right?
    1:11:15 To some people, they’d say masculine men don’t be vulnerable.
    1:11:17 But to me, I find that very sexy and masculine.
    1:11:18 I think that’s really beautiful
    1:11:20 that you’re in touch with yourself.
    1:11:23 So that’s my issue with these feminine masculine
    1:11:25 conversations, it’s the same with the high value stuff.
    1:11:27 It’s like, who are you to determine my value
    1:11:30 because I wanna take you to coffee and not dinner?
    1:11:32 I’m suddenly, I don’t have any worth.
    1:11:36 Masculinity and femininity, to me, come into safety.
    1:11:37 Let’s think about this.
    1:11:38 I can be feminine.
    1:11:40 And what is really feminine is the receiving, right?
    1:11:44 I can disarm, I can feel soft, I can be in my receiving.
    1:11:46 How am I gonna receive if I don’t feel safe?
    1:11:47 I have to feel safe.
    1:11:50 And then my partner, he will protect me
    1:11:53 and be that masculine figure when he feels safe
    1:11:54 in order to do so.
    1:11:56 Otherwise, he’s gonna be like, I don’t wanna,
    1:11:57 why would I protect you?
    1:11:58 You’re not somebody that’s for me.
    1:12:01 So I look at it less as I need to be masculine and feminine
    1:12:02 and more that I wanna feel safe
    1:12:04 so that I can receive and disarm,
    1:12:07 but then I can also step in and protect when I need to.
    1:12:08 That’s how I would look at it
    1:12:10 because open-hearted masculinity,
    1:12:12 I think is just trying to tell people.
    1:12:13 It’s like saying men wear pink, right?
    1:12:15 Like it’s okay to have an open heart
    1:12:18 and be vulnerable and transparent and honest and open.
    1:12:20 You’re still a man and masculine if you do that.
    1:12:22 – Yeah, and I think to your point,
    1:12:24 when you were talking about spectrums
    1:12:25 with attachment styles,
    1:12:28 I think masculine and feminine is a spectrum.
    1:12:31 So for example, I’m very masculine in my business,
    1:12:33 but I’m really feminine in my relationships
    1:12:36 and I don’t wanna be masculine at all
    1:12:39 if I feel like it’s the right person.
    1:12:41 – I’m the same, I’m very masculine.
    1:12:42 And what does that mean?
    1:12:44 It’s more outwards, right?
    1:12:45 I’m more go-getter.
    1:12:46 I’m gonna protect and I’m gonna serve
    1:12:49 and I’m gonna be the mama bear, right?
    1:12:51 It’s like, but that’s a balance, right?
    1:12:52 We do have feminine and masculine.
    1:12:55 Every person has that polarity and I’m the same.
    1:12:57 In my relationship, I just wanna disarm.
    1:13:02 I wanna feel soft and taken care of and loved.
    1:13:03 That’s because we find a balance.
    1:13:06 And then my partner works for my company.
    1:13:08 And so in careers, yeah, he’s a little more feminine.
    1:13:10 He has to back down and I’m the one that’s taking reins.
    1:13:12 I’m the owner, but in our relationship,
    1:13:14 he gets to come in and be the masculine.
    1:13:18 The funny thing is people always equate masculine to,
    1:13:19 oh, the woman cooks and cleans.
    1:13:21 My partner cooks, he cleans,
    1:13:23 he takes care of the household, he does all of that.
    1:13:25 But he’s protecting me, he’s taken care of me.
    1:13:27 And I am the breadwinner, right?
    1:13:30 I’m taking care of our salaries, I’m making sure.
    1:13:31 But it works for us.
    1:13:33 What we wanna look at is what works for you, right?
    1:13:36 If you want a more traditional life, great.
    1:13:37 That comes with a price.
    1:13:39 If I don’t, great, that comes with a price.
    1:13:41 What works for you?
    1:13:44 – I see more and more of this dynamic nowadays
    1:13:46 as women are making more money
    1:13:49 that these gender roles are switching.
    1:13:53 And I think that we’re in this transitional period
    1:13:57 where it’s still a little bit embarrassing in society
    1:14:00 or people feel like ashamed of it.
    1:14:02 What advice do you have for people?
    1:14:03 Because I think there’s a lot more single,
    1:14:06 successful women out there because of this.
    1:14:09 What is your advice to those women and men
    1:14:11 that are finding themselves dating women
    1:14:13 who make more money than them?
    1:14:17 How can we just be happier?
    1:14:18 – I think what we have to look at here
    1:14:20 is where does the insecurity lie, right?
    1:14:22 Because for me, I totally understand.
    1:14:25 It felt like I was this bad ass boss babe.
    1:14:27 And you’re like, but why can’t I find a partner
    1:14:28 that wants that?
    1:14:30 And it all just meant was I just needed to find someone
    1:14:32 that was secure with a strong woman, right?
    1:14:34 My partner was raised by very strong women.
    1:14:37 I’ve met them all and they are incredible powerhouses.
    1:14:39 So meeting me was like, oh my God,
    1:14:40 this is what I’ve been looking for.
    1:14:41 And so I think what it is,
    1:14:43 is about owning and acknowledging.
    1:14:45 Yeah, Hala, you’re a bad ass.
    1:14:47 You are not only gorgeous, not only smart,
    1:14:48 not only successful,
    1:14:51 you’re gonna be very intimidating to a lot of people.
    1:14:53 But that doesn’t mean that you need to water yourself down
    1:14:54 in order to have someone.
    1:14:56 That means that you stand in your confidence
    1:14:59 so that you can have a man that stands in his.
    1:15:00 I like to look at it as,
    1:15:03 my partner is the frame and I’m the picture, right?
    1:15:04 We both can’t be the center of attention.
    1:15:06 We both can’t be the painting.
    1:15:08 So I get to be this fun, bright, woo,
    1:15:11 and he’s the structure that keeps me in place.
    1:15:12 Well, I need that balance
    1:15:14 and I need as a strong business owner,
    1:15:15 I need the support system.
    1:15:18 That doesn’t mean I have to date a fellow business owner
    1:15:21 because they might be needing those same things.
    1:15:22 But I would say really,
    1:15:25 embrace the parts of yourself that make you who you are.
    1:15:27 That’s what makes you successful and cool
    1:15:29 is the fact that you are a go-getter
    1:15:30 and there are going to be people out there
    1:15:31 that are gonna love that.
    1:15:34 Don’t let someone else’s insecurities water you down.
    1:15:36 Last question to you.
    1:15:38 Let’s say we’re in a relationship.
    1:15:40 What do you feel is important
    1:15:43 for a sustainable, long-lasting relationship?
    1:15:45 What do you think people should be doing?
    1:15:48 Communication, number one, always and forever.
    1:15:51 A relationship is one giant conversation, right?
    1:15:53 You have to have those hard talks.
    1:15:55 Anytime you say, oh, I don’t wanna say something,
    1:15:56 it’s gonna push them away,
    1:15:57 we’ve already lost the relationship.
    1:15:59 That’s the number one.
    1:16:00 If you have my favorite therapist,
    1:16:02 she’s a marriage and family therapist,
    1:16:04 her name is Julie Menino
    1:16:06 and her stuff is called the Secure Relationship.
    1:16:08 And we were talking and she said the one thing
    1:16:10 to look at for outside of the communication
    1:16:13 is two participants, two people.
    1:16:15 I don’t care who they are in this relationship
    1:16:17 that say no matter what, we will make it work.
    1:16:18 Right, of course, within reason, obviously.
    1:16:20 But two people, if you have two people
    1:16:23 that are driven to become better versions of themselves,
    1:16:24 like when my partner and I have an issue,
    1:16:25 anytime there’s an issue,
    1:16:27 the first thing I’ll say is, hey, to avoid resentment,
    1:16:28 can I share something with you?
    1:16:30 He knows when I say that, that it’s time.
    1:16:32 Okay, I’m listening, what’s going on?
    1:16:33 And same with him.
    1:16:35 That way, if I say something and he’ll go, okay,
    1:16:36 thank you for letting me know,
    1:16:38 I had no idea I impacted you on that.
    1:16:40 I’m gonna talk to my therapist about steps that I can take
    1:16:42 so that I can make you feel more supported.
    1:16:43 That way, I communicate
    1:16:45 and then I let my partner do what they need to do.
    1:16:47 But you know what the common denominator is?
    1:16:50 Both of us are committed to making this work
    1:16:51 within our power.
    1:16:53 I can’t do the work for him and he can’t do it for me.
    1:16:56 But as long as you’re two people that have respect,
    1:16:58 that listen, that communicate,
    1:17:00 the sky is the fucking limit.
    1:17:02 You will go through all the hard times
    1:17:03 as long as you remember that you’re a team,
    1:17:05 work through your triggers.
    1:17:06 Your partner’s gonna trigger you, that’s okay.
    1:17:08 It doesn’t mean that everything has to be perfect.
    1:17:09 Conflict is part of it.
    1:17:12 The repair is what we wanna look at.
    1:17:14 Sabrina, this was such an insightful conversation,
    1:17:16 a very unique conversation for our show
    1:17:18 that I think our listeners are gonna really enjoy.
    1:17:20 So I end my show with two questions
    1:17:22 that I ask all my guests.
    1:17:23 Don’t worry about today’s topic.
    1:17:26 This is just answering from your heart.
    1:17:29 What is one actionable thing our young and profitors
    1:17:32 can do today to become more profitable tomorrow?
    1:17:35 Start noticing the sensations in your body.
    1:17:36 And the reason I say that is because
    1:17:38 when you start to understand yourself,
    1:17:40 you are a goddamn superpower.
    1:17:42 It is incredible that when you understand,
    1:17:44 wait a minute, oh, whoa, this is a sensation in my body.
    1:17:46 I can go regulate this.
    1:17:48 You will be more profitable the next day
    1:17:50 because you’ll make decisions from a clearer head.
    1:17:52 You’ll make decisions from a more empowered space
    1:17:53 and you’re making decisions for your highest good,
    1:17:55 not out of anxiety or fear.
    1:17:58 And what would you say is your secret to profiting in life?
    1:18:01 And this can go beyond business.
    1:18:04 My secret to profiting in life truly
    1:18:08 is the unapologetic aspect that I am myself
    1:18:09 and I’m not going to change
    1:18:10 because if I don’t stand for something,
    1:18:11 I fall for everything.
    1:18:13 And so authentically accepting myself,
    1:18:14 does she curse a lot?
    1:18:15 Yep, do I talk a lot?
    1:18:16 You bet your ass I do.
    1:18:18 Do I have all of these qualities?
    1:18:20 Absolutely, but that’s who I am.
    1:18:22 That’s what makes me so unique and special.
    1:18:25 And I think embracing those aspects of yourself
    1:18:27 and not being ashamed, not dismissing yourself,
    1:18:29 not discrediting yourself
    1:18:32 is truly what makes me feel the most authentic
    1:18:33 and powerful in my own life.
    1:18:35 And Sabrina, where can everybody learn more
    1:18:37 about you and everything you do?
    1:18:39 SabrinaZohar.com is my website
    1:18:41 or Sabrina.Zohar on TikTok or Instagram
    1:18:42 or the SabrinaZohar show.
    1:18:44 If you guys want to learn more about like dating,
    1:18:47 anxiety and doing the work to heal, I got you.
    1:18:49 Amazing, we’ll stick all those links in the show notes.
    1:18:51 Sabrina, what an awesome conversation.
    1:18:52 Thank you so much.
    1:18:53 Thanks for having me.
    1:19:00 – Young Improfiters, it can be so challenging
    1:19:01 to balance being an entrepreneur
    1:19:05 with having a healthy dating life or relationship.
    1:19:07 Like Sabrina said, so many of us have
    1:19:09 that all or nothing mentality.
    1:19:11 And so often our personal lives suffer
    1:19:14 as we pursue our work lives 24/7.
    1:19:17 Still, there’s plenty of hope for us yet.
    1:19:19 We can strive to find the right balance
    1:19:21 and to better understand ourselves, our needs,
    1:19:24 our attachment styles and the boundaries we need to set.
    1:19:26 And hopefully we will find a partner
    1:19:29 who can work within those same parameters.
    1:19:30 We just need to be as flexible
    1:19:33 and as understanding as we can.
    1:19:37 And most of all, make sure that we constantly communicate.
    1:19:38 Sabrina also helped me understand
    1:19:42 how I can better navigate the crazy world of online dating,
    1:19:45 which I’ve only recently been starting to experience.
    1:19:47 Online dating gets a bad rap today,
    1:19:49 but meeting people in person back in the day
    1:19:51 was no picnic either.
    1:19:54 Like Sabrina said, a dating app is just a tool.
    1:19:57 And like the internet or any piece of technology,
    1:20:00 it’s only as useful as you make it.
    1:20:02 We all have agency and control,
    1:20:04 and we can learn to be better buyers
    1:20:06 when it comes to the dating market.
    1:20:08 In fact, we entrepreneurs should be a lot better
    1:20:11 at vetting prospects, weighing pros and cons
    1:20:13 and making informed decisions
    1:20:15 than the average person on a dating app.
    1:20:17 So be smart about it, just like you would
    1:20:19 if you were hiring somebody for your company.
    1:20:21 Save yourself some time
    1:20:23 by doing some early compatibility checks,
    1:20:25 whether that’s a quick coffee date, a video call
    1:20:29 or a drug question, like how did your last relationship end
    1:20:32 and what did it teach you about yourself?
    1:20:34 Finally, be kind to yourself.
    1:20:36 Take a break from dating if you need to.
    1:20:39 Set boundaries that protect your own mental health.
    1:20:42 Don’t be afraid to pivot or change course.
    1:20:43 In dating, as in business,
    1:20:45 you can’t ultimately control the outcome
    1:20:47 or if something will work out,
    1:20:51 but you can control the process and how you show up for it.
    1:20:53 Thanks so much for showing up here today
    1:20:56 and listening to this episode of Young and Profiting.
    1:20:58 If you listened, learned and profited from this conversation
    1:21:00 and think you know somebody who could use
    1:21:03 a little dating advice or encouragement,
    1:21:04 then send them a link to the show.
    1:21:08 Who knows, maybe it will help them find a life partner.
    1:21:11 And if you did enjoy the show and you learned something new
    1:21:13 and you feel like we’re kind of in a relationship
    1:21:16 because you listen to me every single week,
    1:21:18 then take a couple of minutes to say thank you
    1:21:21 by dropping us a five-star review on Apple Podcasts,
    1:21:24 Spotify, or wherever you listen to your podcasts.
    1:21:27 I really love to read my reviews every day
    1:21:30 and honestly, nothing else makes me happier.
    1:21:33 I check my reviews every day.
    1:21:35 It’s like a dopamine hit when I get one.
    1:21:37 50,000 listens, we get one review.
    1:21:41 So be that person, be that person for me.
    1:21:43 And if you want to follow me on social media,
    1:21:47 you can do so on Instagram @YapwithHalla or LinkedIn
    1:21:50 by typing in my name, it’s Halla Taha.
    1:21:52 And if you prefer to watch your podcast as videos,
    1:21:55 you can find us on YouTube, all of our videos are up there.
    1:21:58 You can also find me on Instagram @YapwithHalla
    1:22:01 or LinkedIn by searching my name, it’s Halla Taha.
    1:22:04 And before we wrap, I of course have to say thank you
    1:22:07 to my rock star podcast team.
    1:22:10 I mean, guys, I’ve got like the number one podcast team
    1:22:12 in the freaking country, I really do.
    1:22:14 We have an amazing podcast team,
    1:22:17 production team podcast network.
    1:22:20 Oh my gosh, I got to just shout everybody out right now.
    1:22:22 First of all, I want to shout out Paul.
    1:22:25 Congratulations on taking a more advanced role
    1:22:26 on the production team.
    1:22:29 You’ve been rocking it for years and years now.
    1:22:31 I really appreciate you.
    1:22:34 I want to shout out Corday for her promotion.
    1:22:35 She’s moving off my podcast,
    1:22:37 but going to better places in the network.
    1:22:39 So shout out to you for doing incredible work.
    1:22:41 I want to shout out Sean
    1:22:44 for being an incredible researcher and copywriter.
    1:22:45 You make my life so much easier.
    1:22:50 You make me a better CEO because you give me back my time.
    1:22:52 I appreciate you so much.
    1:22:55 I want to shout out Greta for all her research support
    1:22:55 over the years.
    1:22:57 You’ve been doing an incredible job.
    1:22:59 I want to shout out Maxi for his audio production.
    1:23:02 I want to shout out Raven for her video support
    1:23:04 and everything that she’s doing.
    1:23:08 I want to shout out Jason, of course, Christina.
    1:23:10 Thank you guys so much.
    1:23:11 Love you guys.
    1:23:15 This is your host, Hala Taha, AKA the Podcast Princess,
    1:23:15 signing off.
    1:23:18 (upbeat music)
    1:23:21 (upbeat music)
    1:23:23 (upbeat music)
    1:23:27 (upbeat music)
    1:23:37 [BLANK_AUDIO]

    Sabrina Zohar was on the set of Shark Tank, ready to land the deal of a lifetime. But after 12 long hours, she was sent home because they ran out of time. This crushing setback was one of several low points she experienced in life. Believing there were others also struggling, Sabrina turned to TikTok to share her struggles, from her chaotic dating life to the ups and downs of running her business. Her honest and relatable content struck a chord with so many people, and before long, it led her to a career as a top relationship coach. In this episode, Sabrina shares her insights into online dating apps, attachment styles, and the unique challenges of navigating the dating world while building a successful business.

    In this episode, Hala and Sabrina will discuss: 

    (00:00) Introduction

    (03:45) Sabrina’s Early Struggles

    (10:00) The Shark Tank Dream That Fell Apart

    (15:30) Finding Purpose on TikTok

    (22:00) Healing Attachment Wounds

    (29:40) Turning Struggles into Coaching Success

    (36:00) The 4 Attachment Styles

    (43:00) Balancing Business and Love

    (49:30) Setting Boundaries Like a Pro

    (56:20) Surviving and Thriving in Modern Dating

    (01:04:00) Signs You Can’t Ignore in Dating

    (01:11:00) Negging, Ghosting, and Breaking Free

    (01:16:06.8) Sabrina’s Formula for Lasting Love

    Sabrina Zohar is a relationship coach, entrepreneur, and the host of The Sabrina Zohar Show. Her journey started with growing her loungewear company, Softwear, but after a series of personal challenges, she turned to TikTok to share her struggles with dating and emotional growth. Today, she’s a sought-after coach and speaker, focusing on attachment styles, emotional intelligence, and building meaningful relationships. With a viral following on social media and a successful podcast, Sabrina’s influence is reshaping how people approach dating in today’s world.

    Connect with Sabrina:

    Website: sabrinazohar.com

    LinkedIn: linkedin.com/in/sabrina-zohar-0488a781 

    TikTok: tiktok.com/@sabrina.zohar 

    Instagram: instagram.com/sabrina.zohar 

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    Resources Mentioned:

    Sabrina’s Podcast, The Sabrina Zohar Show: apple.co/4iAuvcf 

    Attached: The New Science of Adult Attachment and How It Can Help You Find–and Keep–Love by Amir Levine and Rachel Heller: amzn.to/49Bffrr 

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    More About Young and Profiting

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  • Dave Liniger: Top Leadership Principles to Achieve Extraordinary Entrepreneurship Success

    AI transcript
    0:00:02 Today’s episode is sponsored in part by Mint Mobile,
    0:00:07 Working Genius, Indeed, Found Airbnb and Shopify.
    0:00:09 Save big on wireless with Mint Mobile.
    0:00:11 Get your new three month premium wireless plan
    0:00:16 for just 15 bucks a month at mintmobile.com/profiting.
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    0:00:20 and boost productivity with Working Genius.
    0:00:23 Get 20% off the $25 Working Genius assessment
    0:00:27 at workinggenius.com with code “profiting” at checkout.
    0:00:31 Attract interview and hire all in one place with Indeed.
    0:00:36 Get a $75 sponsored job credit at indeed.com/profiting.
    0:00:38 Terms and conditions apply.
    0:00:40 Found gives you banking, invoicing and bookkeeping
    0:00:44 all in one place and was created for busy entrepreneurs.
    0:00:48 Try Found for free at found.com/profiting.
    0:00:50 Hosting on Airbnb has never been easier
    0:00:53 with Airbnb’s new co-host network.
    0:00:56 Find yourself a co-host at Airbnb.com/host.
    0:00:59 Shopify is the global commerce platform
    0:01:01 that helps you grow your business.
    0:01:03 Sign up for a $1 per month trial period
    0:01:06 at Shopify.com/profiting.
    0:01:08 As always, you can find all of our incredible deals
    0:01:12 in the show notes or at youngimprofiting.com/deals.
    0:01:15 – How do you wanna change the world?
    0:01:18 Why are you so passionate about this business
    0:01:19 that you’re starting?
    0:01:21 – What’s your advice to leaders
    0:01:23 to get better at receiving feedback
    0:01:24 no matter who it’s from?
    0:01:27 Ignore it, everybody has an opinion.
    0:01:29 That doesn’t mean everybody is right.
    0:01:32 Loyalty is a two-way street
    0:01:35 and loyalty starts at the top going down,
    0:01:36 not the down going up.
    0:01:39 Your job is to create an environment
    0:01:41 where the people that work for you
    0:01:45 can achieve the level of success they want.
    0:01:48 The number one most important factor of a leader
    0:01:49 is the leader sells hope.
    0:01:50 – What does success mean to you?
    0:01:53 – The best definition I have ever heard of success
    0:01:54 is.
    0:02:02 (upbeat music)
    0:02:13 – Young and Profiters, welcome back to the show.
    0:02:16 And today we have a true real estate icon joining us,
    0:02:17 Dave Linniger.
    0:02:20 Dave Linniger is the co-founder of Remax,
    0:02:23 which he co-founded with his wife Gail in 1973.
    0:02:27 Remax is now one of the largest real estate franchises
    0:02:28 to have ever existed.
    0:02:33 And he’s got over 8,000 offices, 125,000 sales agents.
    0:02:36 He’s done an incredible job leading this organization
    0:02:39 over the past five decades.
    0:02:41 Dave is no longer the CEO at Remax,
    0:02:44 but he still holds a leadership position as chairman.
    0:02:47 And he was CEO for 45 years plus.
    0:02:50 Dave is gonna tell us all about his leadership principles.
    0:02:52 He’s got a new book called Perfect 10,
    0:02:54 which we’re gonna be discussing.
    0:02:55 So without further delay,
    0:02:58 here’s my conversation with the real estate mogul,
    0:02:59 Dave Linniger.
    0:03:03 Dave, welcome to Young and Profiting Podcast.
    0:03:04 – Hey, Howard, thank you very much.
    0:03:06 It’s nice to join you today.
    0:03:08 – I’m really looking forward to this interview
    0:03:12 because we are speaking right now to a real estate legend.
    0:03:13 You have built a remarkable legacy
    0:03:15 in the real estate industry.
    0:03:17 You’re the co-founder of Remax.
    0:03:20 It’s one of the largest real estate franchises in the world.
    0:03:24 And you led that company for 45 years plus a CEO.
    0:03:26 You’re still involved 50 years later.
    0:03:29 And that’s a long time in leadership.
    0:03:31 So my first question to you is,
    0:03:34 how your leadership style has evolved over the years?
    0:03:37 ‘Cause I could imagine with all that experience
    0:03:40 and so many years that it’s evolved several times.
    0:03:41 So that’s my warm-up question to you.
    0:03:44 How has your leadership style evolved?
    0:03:49 – How I was very young when I tried to go to college.
    0:03:52 I was just barely 17.
    0:03:54 I wasn’t disciplined.
    0:03:55 My mommy and daddy weren’t there
    0:03:58 to tell me to study every night.
    0:04:00 And I failed.
    0:04:03 Not failed because I was stupid.
    0:04:07 My ACT scores are out of the world.
    0:04:08 I was undisciplined.
    0:04:12 I didn’t have the maturity that I needed.
    0:04:15 I finally gave up on this college route
    0:04:18 and ended up joining the United States Air Force
    0:04:20 and went to Vietnam.
    0:04:22 I spent six years in the Air Force.
    0:04:27 It bought me six years to mature as a young man.
    0:04:30 So everybody knows young women,
    0:04:32 they’re pretty mature at 18.
    0:04:36 And young men, sometimes it takes them an extra 10 or 20
    0:04:38 or 30 years to get there.
    0:04:42 And that bought me the time to mature enough
    0:04:45 to where I knew where I wanted to go.
    0:04:47 – And so you actually started your career
    0:04:49 and you started as an entrepreneur
    0:04:51 before you even had a college degree.
    0:04:52 You didn’t have a college degree
    0:04:54 or a management degree.
    0:04:57 Did you have some level of imposter syndrome
    0:04:59 before you started Remax because of this?
    0:05:03 – No, I was so confident in my abilities
    0:05:06 being a combat vet that I just felt
    0:05:08 I could pull my way through the China closet
    0:05:09 and we’d be okay.
    0:05:13 So the thing that was the defining moment
    0:05:16 was I realized I was not sophisticated.
    0:05:20 I did not have management experience to speak of.
    0:05:23 And I looked for an administrative vice president.
    0:05:26 Either way, they were all women.
    0:05:28 I interviewed 27 people.
    0:05:33 I said no to 27 and the 28th was magic.
    0:05:35 It was a woman by the name of Gail Main.
    0:05:40 She was a new bride, trailing spouse,
    0:05:44 followed her husband to MayDNF stores from St. Louis
    0:05:49 where she had had her college and her management experience.
    0:05:52 And he brought her to Denver.
    0:05:54 She really wasn’t serious
    0:05:56 about being an administrative vice president,
    0:06:00 but I told her, I said, look, she was charismatic.
    0:06:02 She was confident.
    0:06:03 She was well poised.
    0:06:07 I said, I don’t know how to run a real estate business.
    0:06:08 I can be a sales manager.
    0:06:10 I can be a trainer,
    0:06:13 but I need somebody that could find office space,
    0:06:17 rent it, buy furniture, hire secretaries
    0:06:21 and bookkeepers and receptionists and run the company.
    0:06:23 And I got lucky.
    0:06:25 I was so lucky.
    0:06:26 She said yes.
    0:06:27 I told her I was gonna build
    0:06:29 the biggest real estate company in history
    0:06:33 and she very naively believed it.
    0:06:35 And so fast forward 10 years.
    0:06:38 She ran the business.
    0:06:42 I was on the road selling franchises, opening offices,
    0:06:46 expanding the company and we both grew together,
    0:06:49 but we complimented each other’s abilities
    0:06:50 and lack of abilities.
    0:06:53 And so I’m the super salesman.
    0:06:55 She was a super leader
    0:07:00 and she did end up becoming CEO of the company.
    0:07:05 We were not romantically involved for 10 years.
    0:07:08 And at the end of 10 years,
    0:07:11 every officer I had had become divorced.
    0:07:15 We fell in love with this crazy mistress called Remax
    0:07:18 said, hey, stand up in front of a thousand,
    0:07:22 10,000 people and it’s mesmerizing.
    0:07:24 And so it was just natural
    0:07:27 that we had no friends outside the company.
    0:07:28 And she and I became incredibly close.
    0:07:32 So I have to tell you, 51 years is my partner.
    0:07:38 41 years is my wife and she was awesome.
    0:07:42 And we made the perfect pair complimenting each other.
    0:07:44 – Oh, I love that story.
    0:07:46 And I love to hear how you were able
    0:07:49 to create a successful business with your partner.
    0:07:51 And I love to hear that it actually started
    0:07:53 as a business relationship and evolved
    0:07:56 into something more fulfilling and romantic.
    0:07:59 So I’m going to get to hiring later on in the interview,
    0:08:00 but first I want to focus
    0:08:03 on your leadership management style.
    0:08:05 When you first started at Remax,
    0:08:06 how were you as a leader compared
    0:08:09 to how you are as a leader now?
    0:08:14 – Unfortunately, I was stubborn, I was too aggressive
    0:08:18 and I thought I had all the answers in the world.
    0:08:20 And fast forward 50 years,
    0:08:27 growing up and maturing and figuring it out
    0:08:30 is I look back on those days and think,
    0:08:33 oh my God, how the hell did we succeed?
    0:08:38 And in essence, I am the direct result of people,
    0:08:45 mentors, managers, leaders, books, seminars,
    0:08:48 of trying to find my way to success.
    0:08:53 And I was blessed with the most amazing group
    0:08:56 of people around me that when I was failing
    0:08:59 the first two or three years, I sat down
    0:09:02 and I said, I’m screwing up.
    0:09:04 I know I’m not doing a good job.
    0:09:05 What am I doing right?
    0:09:07 What am I doing wrong?
    0:09:10 And realtors will tell you the truth.
    0:09:14 Our managers or our officers that Gail and I started
    0:09:16 were 20 years older than us.
    0:09:19 And they sat down and they took me to the wood shed.
    0:09:21 And I said, I’m coachable.
    0:09:24 I’m not smart, but I’m sure coachable.
    0:09:28 Tell me how to be the leader you want me to be.
    0:09:31 And those people and all the other things
    0:09:33 that happened in 50 years,
    0:09:38 changed me immensely as a leader and a human being.
    0:09:40 – Feedback is so important.
    0:09:42 And maybe we can start here when we’re thinking
    0:09:46 about leadership and principles and things like that.
    0:09:47 I’m an entrepreneur.
    0:09:51 I have 60 employees and I can easily take feedback
    0:09:54 from the closest people that work with me.
    0:09:56 But it’s really hard for me to hear feedback
    0:10:00 from other employees that don’t work directly with me
    0:10:02 because I feel like they don’t understand
    0:10:05 how hard I’m working and everything going on
    0:10:06 behind the scenes.
    0:10:08 What’s your advice to leaders
    0:10:10 to get better at receiving feedback
    0:10:12 no matter who it’s from?
    0:10:15 – Well, this isn’t the answer you want.
    0:10:17 It’s ignore it.
    0:10:21 Everybody has an opinion.
    0:10:23 That doesn’t mean everybody is right.
    0:10:26 If you’re succeeding at what you’re doing,
    0:10:29 criticism comes with a job title.
    0:10:31 And everybody’s gonna think,
    0:10:34 I could do her job better than she can.
    0:10:35 That’s nonsense.
    0:10:38 If you’re the entrepreneur and you built the business,
    0:10:42 some clerk in the mailroom is not got the ability
    0:10:45 to tell you how the hell to run your business.
    0:10:48 So I always tell everybody,
    0:10:50 you will get advice from many sources.
    0:10:53 Whatever you do, you’re the boss.
    0:10:57 You own it, you live with it and you die with it.
    0:11:01 Never let an attorney or an accountant
    0:11:04 or a consultant run your business.
    0:11:06 If they run into the ground,
    0:11:08 they walk away and you pay their fee.
    0:11:13 You are the person responsible for your corporation.
    0:11:17 Believe in yourself and charge forward,
    0:11:19 listen to your confidence
    0:11:22 and be willing to accept criticism.
    0:11:25 It’s okay because we all make mistakes,
    0:11:29 but you just can’t take the people
    0:11:32 that have no concept of what it’s like
    0:11:34 to be responsible for an enterprise.
    0:11:35 – I totally agree.
    0:11:36 I’m happy you gave me that advice
    0:11:39 ’cause that’s what I told my confidants.
    0:11:41 I had a situation where somebody gave me
    0:11:43 this book of feedback.
    0:11:45 And when I read it, my heart sunk ’cause I was like,
    0:11:49 man, she has no idea what she’s talking about.
    0:11:50 I can’t listen to this feedback.
    0:11:52 And I kind of just threw it away and moved on.
    0:11:55 So I’m glad you’re on the same page here.
    0:11:57 So Dave, you’ve got this new book.
    0:11:59 It’s called Perfect 10.
    0:12:00 10 Leadership Principles to Achieve
    0:12:04 True Independence, Extreme Wealth and Huge Success.
    0:12:06 Now I have a lot of people that come on the show
    0:12:08 and especially lately,
    0:12:11 a lot of people don’t define success with money
    0:12:15 and working harder and independence
    0:12:16 and things like that anymore.
    0:12:18 So I wanna understand your perspective
    0:12:20 of what success means.
    0:12:21 What does success mean to you?
    0:12:25 – Each individual has to determine success for themselves.
    0:12:29 The best definition I have ever heard of success
    0:12:34 is bannered about by three or four of the platform speakers.
    0:12:36 And it’s very simple.
    0:12:38 I wanna do what I wanna do,
    0:12:40 when I wanna do it, where I wanna do it,
    0:12:43 how I wanna do it and with who I wanna do it.
    0:12:46 And that is success.
    0:12:48 So I’m 79.
    0:12:53 I had a critical injury 12, 13 years ago.
    0:12:55 I have survived it.
    0:12:57 I can’t do the things that I did before.
    0:13:01 I drove NASCAR, I flew aerobatic jet planes,
    0:13:03 I scuba-dived all over the world,
    0:13:07 I sky-dived, I did all these things.
    0:13:12 And all of a sudden, you wake up and you’re paralyzed.
    0:13:15 I was a quad for almost a year.
    0:13:19 And so then you start thinking, what is success?
    0:13:24 And I realized doors open and doors close.
    0:13:29 And as much as I’d love to be at Daytona in February,
    0:13:33 leading the poll, ain’t never gonna happen
    0:13:36 at a man my age with my reflexes
    0:13:38 and my strength and my ability.
    0:13:42 So the doors closed, but other doors open up.
    0:13:45 So I was very fortunate one time.
    0:13:50 I had a dinner with a marvelous actress.
    0:13:53 She was 30 years older than me.
    0:13:57 And I asked her about, well, you were young
    0:13:58 and you were extraordinarily beautiful.
    0:14:01 You were a screen star.
    0:14:03 What’s it like now to be in your 60s?
    0:14:08 And that dinner was a lasting impression to me.
    0:14:11 She said, when I was young, I was like a vibrant,
    0:14:15 young, wild, tasty wine.
    0:14:19 And now 30, 40 years later,
    0:14:22 I’m a different taste of wine.
    0:14:25 I’ve mellowed, but I’m still strong.
    0:14:27 And I’m happy with who I am.
    0:14:29 I’ve never forgotten that conversation
    0:14:31 because that’s our world.
    0:14:34 We all will age.
    0:14:39 And the starting quarterback that was MVP after 35
    0:14:42 is never gonna be there again.
    0:14:47 And so you have to come to a feeling of that was then,
    0:14:50 this is now, who can I be now?
    0:14:51 – I love that.
    0:14:54 I love that concept of your goal posts always changing
    0:14:56 and that there’s different goals
    0:14:57 at different stages of life.
    0:14:59 I think that’s really beautiful.
    0:15:02 What was your goal in writing “The Perfect 10”?
    0:15:04 Why did you write this book?
    0:15:09 – A legacy, I was helped by dozens and dozens of people
    0:15:14 building a real estate company with major conventions.
    0:15:16 You hire the best speakers that are out there.
    0:15:19 You become bosom buddies with them
    0:15:23 and they accept their check and you get their advice.
    0:15:27 But you grow and I made so many mistakes
    0:15:32 because I was so immature and uneducated.
    0:15:36 The college of hard knocks is a hell of an education.
    0:15:38 Most people can’t afford the tuition.
    0:15:43 And so there’s not an original thought in the book.
    0:15:45 I try to put that in the forward of,
    0:15:50 hey, I have learned from the shoulders of giants
    0:15:53 of the very best in the world.
    0:15:55 None of this is original to me.
    0:16:00 It’s all been passed down over hundreds of years
    0:16:05 and the knowledge Aristotle, anybody back in the time
    0:16:09 is just as relevant today.
    0:16:13 It’s 2000 years later and we still think the same way
    0:16:17 they thought our abilities have changed because of education
    0:16:21 but in reality, common sense is common sense.
    0:16:24 And so every one of us should learn
    0:16:27 everything we can from anybody else.
    0:16:28 – Yeah, I totally agree.
    0:16:31 And I know you’re such a proponent of reading
    0:16:34 and I loved reading your book and hearing about the stories
    0:16:37 from other entrepreneurs and writers and things like that.
    0:16:40 So a lot of people who are tuning in, they are entrepreneurs
    0:16:43 and I know that you invest in businesses.
    0:16:45 And in your book, you say the most important question
    0:16:47 that you ask an entrepreneur
    0:16:49 when considering to invest in their business
    0:16:52 is why are you starting this business?
    0:16:54 And you say there’s just one right answer to this.
    0:16:58 You’re not looking for any answer except for one right answer.
    0:16:59 Can you tell us this answer
    0:17:02 and why responding in this way is so important to you?
    0:17:05 How do you wanna change the world?
    0:17:08 Are you starting this thing to get rich?
    0:17:11 Are you starting this thing to dump it in five years
    0:17:15 and walk with a big paycheck and retire in Tahiti?
    0:17:17 What’s your cause?
    0:17:18 What’s your why?
    0:17:23 Why are you so passionate about this business
    0:17:25 that you’re starting?
    0:17:27 – Why is passion so important to you?
    0:17:30 Because a lot of people say don’t follow your passion.
    0:17:31 Passion doesn’t make you money
    0:17:34 but why do you feel like passion makes a good entrepreneur?
    0:17:38 – If you’re dreaming, dream big.
    0:17:39 Shoe fill the moon.
    0:17:42 Don’t have little bitty goals.
    0:17:44 Have a giant goal.
    0:17:47 My goal was to build the largest, most successful
    0:17:50 real estate company in the history of the world.
    0:17:54 With big dreams come big obstacles.
    0:17:57 If you have a passion and you believe it
    0:17:59 and you go to sleep at night thinking about it
    0:18:02 and you get up in the morning thinking about
    0:18:03 I’ve gotta get to the office
    0:18:06 ’cause this is my world, this is my passion.
    0:18:11 You can get over the day-to-day mistakes
    0:18:14 and problems that you will face.
    0:18:15 You have to be a dreamer.
    0:18:17 You’re an entrepreneur, you know that.
    0:18:20 I can make the world a better place.
    0:18:22 I’m not here to make more money.
    0:18:25 I’m here to change people’s lives.
    0:18:27 – It’s so true when building my company,
    0:18:28 I pay attention to the numbers and stuff
    0:18:31 but that’s definitely not what motivates me.
    0:18:33 What motivates me is just keep building and innovating
    0:18:36 and growing a team and making an impact.
    0:18:38 So when it comes to entrepreneurship,
    0:18:40 you obviously are literally one
    0:18:43 of the most accomplished entrepreneurs in the world.
    0:18:45 Can you talk about the personality traits
    0:18:48 and the skills that you think are conducive
    0:18:49 to entrepreneurship?
    0:18:52 – I have a marketing background, sales background,
    0:18:55 selling franchises and so on.
    0:18:58 A lot of people say the marketing person
    0:19:02 is not going to be a good manager.
    0:19:04 Not gonna be a good leader.
    0:19:05 I totally disagree.
    0:19:09 If you’re an old state agent and you’re service oriented
    0:19:12 and you give a damn about your customer
    0:19:13 and you care more about them
    0:19:15 than you do about your commission,
    0:19:17 you couldn’t be a success.
    0:19:20 Zig Ziglar, motivational speaker from,
    0:19:23 God, 40 years ago.
    0:19:25 And he said one time,
    0:19:27 people don’t care how much you know
    0:19:30 until they know how much you care.
    0:19:34 And then even at age 20 as a real estate agent
    0:19:39 in the military with a crew cut haircut and 130 pounds,
    0:19:43 like I’m somebody’s teenage kid,
    0:19:48 I succeeded because I’ve managed to convince the customer,
    0:19:51 I will work my tail off for you
    0:19:54 and I will never sell you something that’s not right.
    0:19:56 And I don’t care if I make a commission or not,
    0:19:58 I’m gonna solve your problem.
    0:20:00 Once I had that reputation,
    0:20:03 it made no difference if I was 20 or 30.
    0:20:07 And so I think the most important aspect is,
    0:20:09 you do have to have a passion.
    0:20:12 You have to figure out what difference
    0:20:14 am I going to make in the world?
    0:20:18 Now, if I can say this very modestly,
    0:20:22 for 10 years, I was the youngest person in remex.
    0:20:26 Unfortunately, 50 years later,
    0:20:31 many of my people I sold to in the ’70s and ’80s
    0:20:33 have retired and passed away.
    0:20:36 The biggest joy I have in my life
    0:20:40 is having letters sent to me and my wife.
    0:20:42 You changed my life.
    0:20:44 I created wealth for my family.
    0:20:48 I never had the life I thought I would have.
    0:20:52 You have impacted me so immensely.
    0:20:54 I want you to know that before I die.
    0:20:56 That’s what leadership is.
    0:20:58 Leadership is not stock options.
    0:21:02 Leadership is not, I’m CEO, look at me.
    0:21:06 Leadership is, did you turn around and put your hand down
    0:21:08 to help the next person come up
    0:21:10 with a couple more steps up the mountain?
    0:21:14 And that is total gratification.
    0:21:16 – I completely agree.
    0:21:18 I feel like the impact you make on other people
    0:21:20 is such a big part of leadership
    0:21:23 and getting motivated as a leader.
    0:21:25 Another aspect that you call out in your book
    0:21:29 in terms of what makes a good leader is optimism.
    0:21:31 And you highlight the power of optimism in a story
    0:21:35 with Ernest Shackleton and his crew survival in Antarctica.
    0:21:37 Can you share that story with us?
    0:21:41 – Ernest Shackleton was a unique individual.
    0:21:44 He was born in a family and I can’t remember.
    0:21:48 Six daughters and him, the youngest.
    0:21:53 And the daughters have a unique impression on him.
    0:22:00 And in era 1907, 1910, where the general said jump
    0:22:06 and the private had to say how high on the way up,
    0:22:10 command and control, he was unique.
    0:22:12 Women are unique business people.
    0:22:16 And most of them are more compassionate.
    0:22:21 Most of them like to ask everybody’s opinion
    0:22:23 and how are we going to succeed at this
    0:22:26 instead of a command and control situation.
    0:22:30 So he was 100 years ahead of his time.
    0:22:35 They get stuck in the ice near the South Pole.
    0:22:37 They get frozen in.
    0:22:41 The ice gets stronger and stronger.
    0:22:43 They’re happy in their little boat.
    0:22:48 They had food, the warmth and the boat starts to crumble
    0:22:51 and they have to get out and live on the ice flow.
    0:22:56 And so he had 27 men, they got out on the ice
    0:23:00 and they had to live for over a year and a half.
    0:23:05 At the end of their journey, every man wrote in their diary.
    0:23:09 He was the single greatest leader
    0:23:10 they’d ever met in their life.
    0:23:15 He put people in tents, two and three people to a tent
    0:23:18 and every day he visited each tent
    0:23:21 and said, how are we doing?
    0:23:22 What’s your thoughts?
    0:23:24 What do you suggest we do?
    0:23:28 Do we pull our lifeboats and try to get to land?
    0:23:29 Do we do this?
    0:23:30 Do we do that?
    0:23:35 It was a very feminine management trait at that time,
    0:23:37 which is very unusual.
    0:23:40 And so he brought them all home alive.
    0:23:44 By the way, in his diary, he wanted to kill them.
    0:23:47 He literally had three or four people
    0:23:50 he just wanted to shoot, but he didn’t.
    0:23:52 He was one of the greatest leaders
    0:23:55 we’ve ever seen in our lifetime.
    0:23:59 And every man, and I’m sorry, it was all men,
    0:24:01 every man said, this is the greatest leader
    0:24:03 I’ve ever worked with.
    0:24:08 That’s an amazing story of survival in desperate means,
    0:24:11 with not enough food, not enough sunlight,
    0:24:14 not enough warmth, and he brought them all home.
    0:24:16 – And I know that one of the things that he did
    0:24:19 was actually lead by example.
    0:24:22 And he was helping them on the ground.
    0:24:24 He was very hands-on in making sure
    0:24:26 that everybody was gonna be okay
    0:24:28 and everything got done that needed to get done
    0:24:30 for survival, right?
    0:24:33 But I know that bringing it back to modern times,
    0:24:35 the more that you scale your business,
    0:24:37 when you first start as an entrepreneur,
    0:24:39 you’re more hands-on because you’re starting the business
    0:24:42 from scratch, you’re involved in everything.
    0:24:43 But then as you hire and scale
    0:24:45 and hire and scale and hire and scale,
    0:24:47 you naturally start to just get more strategic
    0:24:48 and less hands-on.
    0:24:51 So how can we actually lead by example
    0:24:52 as our company scales?
    0:24:57 – I have a concept I read about called,
    0:24:59 we all carry the boxes.
    0:25:04 I felt as a leader that I had to do everything
    0:25:08 that my employees did to prove that I’ll work
    0:25:09 just as hard as you will.
    0:25:15 Had an interesting situation with a black gentleman
    0:25:19 that became one of my best friends of my entire life.
    0:25:22 I was going on speaking tours five days a week.
    0:25:26 I always took some younger people with me
    0:25:27 to set up the meeting rooms
    0:25:30 and just help set up the autograph booths
    0:25:31 and all that stuff.
    0:25:35 Since this young gentleman, every place we stopped
    0:25:40 and we flew in would grab my briefcase, grab my suitcase.
    0:25:41 Let me get that for you, Mr. Linderger.
    0:25:44 He was like, I finally looked at him and I said,
    0:25:49 “Coron, I’m a man, I can carry my own damn briefcase.”
    0:25:55 The last stop of the week was Washington, DC, Dulles.
    0:26:00 We were at a Marriott and I had a whole bunch of stuff
    0:26:04 I was carrying, briefcase, suitcase, overhead projector
    0:26:07 and all this crap and I got to the door.
    0:26:09 I said, “Coron, would you get the door for me?”
    0:26:11 And he looked at me and he says,
    0:26:13 “You’re a man, get your own damn door.”
    0:26:19 I knew on that moment he was not scared of me.
    0:26:23 I knew at that moment he had a sense of humor
    0:26:25 and he just didn’t give a damn.
    0:26:29 And he became one of my top officers in my life
    0:26:34 and one of his friends because he showed the aptitude of,
    0:26:38 “I’m not kissing your butt, you’ll be temperamental with me,
    0:26:40 I’ll be temperamental back with you.”
    0:26:43 And I was 30 years older than him.
    0:26:47 And so when you look for leadership,
    0:26:49 you look for people that aren’t afraid.
    0:26:51 You look at people that are willing to just grab it
    0:26:54 and go for it and he was.
    0:26:56 – Let’s hold that thought and take a quick break
    0:26:58 with our sponsors.
    0:27:01 – Yeah, fam, when I first started this podcast,
    0:27:04 my amazing volunteer team helped me out.
    0:27:06 But as my business grew,
    0:27:09 we needed to hire real talent with real experience.
    0:27:12 And it became overwhelming because I’d had to sort through
    0:27:14 piles and piles of resumes and interviews.
    0:27:17 And then I discovered the easy way to hire quickly.
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    0:27:41 23 hires were made, according to Indeed data worldwide.
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    0:28:20 Indeed.com/profiting, terms and conditions apply.
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    0:28:26 Hey app bam, launching my LinkedIn secrets masterclass
    0:28:28 was one of the best decisions that I’ve ever made
    0:28:30 for my business.
    0:28:32 And I didn’t have to figure out all the nuts and bolts
    0:28:35 of creating a website for my course.
    0:28:38 I needed a monthly subscription option.
    0:28:40 I needed chat capabilities.
    0:28:42 I needed a laundry list of features
    0:28:46 to enable what I was envisioning with my course.
    0:28:47 But here’s the thing, all I had to do
    0:28:51 was literally lift a finger to get it all done.
    0:28:53 And that’s because I used Shopify.
    0:28:59 Shopify is the easiest way to sell anything,
    0:29:01 to sell online or in person.
    0:29:04 It’s the home of the number one checkout on the planet.
    0:29:07 And Shopify is not so secret secret as Shoppay,
    0:29:10 which boosts conversions up to 50%.
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    0:29:17 If you’re into growing your business,
    0:29:19 your commerce platform better be ready to sell
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    0:29:25 On the web, in your store, in the feed,
    0:29:27 and everywhere in between.
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    0:29:34 Upgrade your business and get the same checkout
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    0:29:55 (bell dings)
    0:29:57 – Yeah, fam, if you’re anything like me,
    0:29:59 you didn’t start your business
    0:30:02 to spend all your time managing finances.
    0:30:05 Budgeting, invoicing, and tax prep,
    0:30:08 not exactly the fun part of entrepreneurship.
    0:30:11 My COO Jason is great at the finance stuff,
    0:30:14 but even he doesn’t wanna switch between five different apps
    0:30:18 for banking, expense tracking, and contractor payments.
    0:30:20 We wanted a tool that could just do it all
    0:30:22 and save us our time.
    0:30:23 And guess what?
    0:30:27 We found that tool, and yes, it’s called Found.
    0:30:29 Found is an all-in-one financial tool
    0:30:30 made for entrepreneurs.
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    0:30:35 bookkeeping, invoicing, and vendor payments.
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    0:30:44 With smart features like automatic expense tracking,
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    0:31:29 They also offer an optional paid product, Found Plus.
    0:31:34 I know building trust and credibility
    0:31:37 is so important for team building
    0:31:39 and for people to follow you.
    0:31:41 What is your best advice for building trust
    0:31:43 and credibility with your team?
    0:31:45 – The first thing you have to understand is,
    0:31:48 loyalty is a two-way street
    0:31:52 and loyalty starts at the top going down,
    0:31:55 not the down going up.
    0:31:59 It is your responsibility to be totally 100% loyal
    0:32:01 to your employees.
    0:32:06 Herb Kellerher, founder of Southwest Airlines,
    0:32:10 gave a speech, I was sitting in the front row,
    0:32:14 and he said, “The customer is not always right.”
    0:32:17 I said, “If you have a drunk passenger
    0:32:20 who is harassing your flight attendants
    0:32:22 and being just a mess,
    0:32:25 throw him off your fucking airplane.”
    0:32:28 He took the side of his employees and said,
    0:32:32 “You’re valued to me more than that customer is.
    0:32:34 The customer is not always right.
    0:32:36 My employees are doing their job.
    0:32:39 If they’re right, we don’t want that customer.”
    0:32:42 Loyalty starts top down.
    0:32:46 If you’re loyal to your employees, your vendors,
    0:32:50 your customers, the loyalty will be replayed.
    0:32:52 – I know that in your book, you also say,
    0:32:54 you have to be fair and responsible
    0:32:56 to all your stakeholders, right?
    0:32:59 You can’t just only focus on your customers.
    0:33:01 You’ve got to think if you’ve got shareholders,
    0:33:04 board members, employees, vendors,
    0:33:06 there’s so many other people to care about.
    0:33:09 So I know there’s a lot of priority balancing.
    0:33:12 How do you suggest we handle that?
    0:33:15 – Oh, this is controversial.
    0:33:18 I think that everybody needs to be treated fair,
    0:33:20 but not equal.
    0:33:25 So if I have a good franchisee in Canyon City, Colorado,
    0:33:30 that has 15 agents,
    0:33:33 and that individual calls me and says,
    0:33:35 “Dave, will you come to my Christmas party?
    0:33:39 Will you come to my New Year’s grand opening?”
    0:33:41 And I have to say no.
    0:33:44 I have 9,000 offices and I can’t be there,
    0:33:49 but I can do a DVD or a hyperlink and say hi to everybody.
    0:33:56 If my biggest broker in California has 100 remax offices
    0:34:01 and he says, “Can you fly out to my meeting with my agents?”
    0:34:04 The answer is, “Hell yes.”
    0:34:09 I’m sorry, I can’t go to 15 agents.
    0:34:11 I can go to 2,000 agents.
    0:34:15 And so you have to start prioritizing the fact of
    0:34:18 everybody’s valuable,
    0:34:23 but you have such limited personal time
    0:34:25 to care for the network.
    0:34:27 You have to run the business.
    0:34:31 You have to do all the things you have as an entrepreneur,
    0:34:33 and you still have to try to have
    0:34:36 friendships and personal relationships.
    0:34:40 And so fair, but not necessarily equal.
    0:34:41 – Such good advice.
    0:34:45 You also highlight vulnerability as a leadership strength.
    0:34:48 So how do you suggest we be more vulnerable?
    0:34:53 – That’s easy, just be who you are.
    0:34:56 If you make a mistake, admit it immediately.
    0:34:58 Don’t be phony, don’t be false.
    0:35:01 Don’t be superhero, don’t be wonder woman.
    0:35:06 Just say, “Hey team, I screwed up, I made a mistake.
    0:35:11 I’m sincerely sorry I will not make the same mistake twice.”
    0:35:16 And it’s amazing, your employees will be very forgiving.
    0:35:17 They don’t want you to be God.
    0:35:20 They don’t want you to be different than them.
    0:35:23 They want to know that you’re a human being.
    0:35:25 – I learned something from Howard Behar.
    0:35:28 So I interviewed Howard Behar years ago.
    0:35:29 He’s the president of Starbucks,
    0:35:32 former president of Starbucks for many years.
    0:35:33 And he told me something
    0:35:34 that I’ll never forget about leadership.
    0:35:38 He said, “Only the truth sounds like the truth.”
    0:35:40 So he had a period of time
    0:35:43 where he had to lay off thousands of employees at once.
    0:35:47 And he was debating on what he should tell people.
    0:35:48 And his assistant told him,
    0:35:51 “Howard, only the truth sounds like the truth.”
    0:35:54 And he went into his team and he told them,
    0:35:57 “We’ve got to lay people off because of X, Y, Z.”
    0:35:58 He just told them the truth.
    0:36:01 And everybody was really understanding.
    0:36:02 And I never forgot that lesson
    0:36:04 because I feel like as a leader,
    0:36:06 sometimes you just got to tell the truth.
    0:36:08 And people usually will accept it
    0:36:12 and be kind about it and understand.
    0:36:14 – People are incredibly kind.
    0:36:16 They like transparency.
    0:36:17 They like honesty.
    0:36:20 And the hardest thing in the world is laying people off
    0:36:23 because of the economy or whatever it might be.
    0:36:25 You’re affecting their lives.
    0:36:26 You can’t sugarcoat it.
    0:36:32 And I had to do layoffs twice in Remax’s history.
    0:36:34 And I’m sorry.
    0:36:36 I’m a manly man.
    0:36:38 I cried both times.
    0:36:43 They knew that I hurt having to lay them off.
    0:36:44 – So speaking of Remax,
    0:36:46 let’s talk about Remax for a bit
    0:36:48 and some of the entrepreneurial things
    0:36:50 that you learned along the way.
    0:36:52 Can you tell us about how you first came up
    0:36:54 with the name of Remax?
    0:36:59 – Well, we sat around having shots of tequila,
    0:37:02 some salt and wine,
    0:37:05 and nobody wanted to call it Dave Leniger real estate.
    0:37:07 I thought that was pretty antistical.
    0:37:12 And at the time, ESO had just changed the name to Exxon.
    0:37:16 They had spent millions of dollars on this trademark,
    0:37:19 only to find out it was the foul language
    0:37:21 in a different country.
    0:37:25 But anyway, it was five letters and a couple slashes
    0:37:29 and we sat around, we said, well, Remax,
    0:37:31 that’s real estate maximums.
    0:37:33 Maximum commission to the agent,
    0:37:34 maximum service to the customer
    0:37:37 with no part timers or beginners,
    0:37:39 maximum profit for the broker owner.
    0:37:41 And we came up with RE Max.
    0:37:42 And we looked at that and said,
    0:37:47 “Yeah, somebody’s gonna think there’s a Mr. or Mrs. RE Max.”
    0:37:52 We took the periods out through a slash and five Vietnam vets.
    0:37:55 So we had a red, white and blue sign.
    0:37:58 Oh, a lot of market research went into this.
    0:38:03 – Your balloon logo is one of the most recognizable logos
    0:38:04 in the world.
    0:38:06 So you, as an entrepreneur,
    0:38:08 were really good at recognizing opportunity.
    0:38:12 Can you talk about how you disrupted the business model
    0:38:14 that was traditionally in real estate
    0:38:15 and how you disrupted it?
    0:38:19 – In 1973, the traditional commission split
    0:38:21 between the real estate agent
    0:38:24 and the owner of the office was 50/50.
    0:38:29 The owner of the office used their 50%
    0:38:32 to pay overhead, marketing, secretaries, rent, et cetera,
    0:38:34 and make a profit.
    0:38:36 The agent, they had their 50%,
    0:38:38 but they had to pay for their automobile.
    0:38:42 Nobody pays for retirement for real estate agents.
    0:38:46 Nobody pays for social security or insurance or whatever.
    0:38:51 And so in reality, real estate agent never did make 50/50.
    0:38:54 After paying their own personal expenses and stuff,
    0:38:59 they were more like, I don’t know, 80/20 or 75/25.
    0:39:02 And so we looked at it and said,
    0:39:05 “Why not have an office like a group of doctors,
    0:39:08 lawyers, architects, or dentists
    0:39:12 that shares office space, pays their own personal expenses,
    0:39:13 and they’re part of the office space
    0:39:16 and keeps the majority for themselves.
    0:39:18 Cheaper than going into business for yourself.”
    0:39:23 And the end result was, as we started the company,
    0:39:25 the split changed about 85/15.
    0:39:29 So very controversial.
    0:39:32 The industry hated it, they hated me.
    0:39:37 Today I’m an icon, but I outlived everybody
    0:39:40 because they were all in their 40s and 50s
    0:39:42 when they were trying to drive me out of business.
    0:39:44 And so as a model,
    0:39:46 we changed the entire real estate industry’s
    0:39:48 commission splits.
    0:39:50 – Yeah, and something else that you did differently
    0:39:54 is that your perspective of who the customer was changed.
    0:39:57 So originally the customer was the buyer, the seller,
    0:40:00 and now the customer was the agent.
    0:40:02 Can you tell us more about that?
    0:40:05 – I decided that I was not in the real estate business.
    0:40:07 I was in the real estate agent business.
    0:40:10 And my job was to create an environment
    0:40:13 where real estate agents could be more successful
    0:40:15 than any place else in the world.
    0:40:18 They were in the real estate business.
    0:40:21 They handled the buyers and sellers.
    0:40:24 We stuck with that for 50-some years.
    0:40:26 It is the backbone of our company.
    0:40:30 Our average agent has twice experience
    0:40:32 and three times the sales volume
    0:40:34 of other full-time realtors in the world.
    0:40:37 And it worked.
    0:40:40 – Now, how can people outside of the real estate industry
    0:40:44 took what you did and leverage it for their industry?
    0:40:48 – As we started to expand remax from Colorado
    0:40:52 with an amazing success story after five years,
    0:40:54 and we went into the various markets,
    0:40:57 and we went to Atlanta and they said,
    0:41:00 “Well, we don’t steal each other’s agents down here.
    0:41:02 “We’re kind of genteel.”
    0:41:05 And we went to Chicago and they said,
    0:41:06 “You guys are cowboys.
    0:41:09 “You were cowboy clothes and blue jeans.
    0:41:10 “We’re sophisticated.
    0:41:12 “We have coats and ties.”
    0:41:14 Went to Quebec.
    0:41:17 They said, “You don’t even speak French.”
    0:41:19 So everybody said, “We’re different.
    0:41:21 “We’re different. We’re different.”
    0:41:23 And as we went around the world,
    0:41:26 every country is different.
    0:41:27 We’re in socialist countries.
    0:41:29 We’re in communist countries.
    0:41:31 We’re in democracies.
    0:41:35 We’re in countries that 80% of the countries
    0:41:38 wherein don’t even have a multiple listening service
    0:41:43 or realtors, and everybody keeps saying, “We’re different.”
    0:41:45 And every country we went to,
    0:41:47 we became incredibly successful.
    0:41:50 And the thing that’s fascinating about the success was,
    0:41:53 I couldn’t figure out why, with all the differences.
    0:41:55 And it finally came down to,
    0:41:58 human beings have some common,
    0:42:02 commonalities, if you will, human beings want.
    0:42:06 We want to raise our children to our moral standards
    0:42:10 and our religious beliefs, not somebody else’s.
    0:42:12 We want to make more money so that we can provide
    0:42:17 elder care or childcare or provide for our children.
    0:42:21 We want to do our business our way.
    0:42:23 I want to do what I want to do,
    0:42:24 when I want to do it, where I want to do it,
    0:42:27 how I want to do it, and with who I want to do it.
    0:42:30 So I had nothing to do with the commission split,
    0:42:33 working in 110 countries.
    0:42:37 It had everything to do with a leadership concept of,
    0:42:40 I have one job in this real state office.
    0:42:44 I’m not here to motivate you to become more successful.
    0:42:46 I can put a gun to your head and say, stand up.
    0:42:48 If you don’t stand up, you’re an idiot.
    0:42:50 Minute the police take me away,
    0:42:51 you never had to think about me again.
    0:42:54 My job as a leader, for any person
    0:42:57 that’s listening to this podcast,
    0:43:00 your job is to create an environment
    0:43:03 where the people that work for you
    0:43:06 can achieve the level of success they want.
    0:43:10 We had 100% Club 73 make $100,000 a year,
    0:43:14 which is unreal figure at that time.
    0:43:17 And I couldn’t figure out, why in the world
    0:43:20 didn’t everybody want to work that hard?
    0:43:22 It took me about 10 years to figure it out.
    0:43:26 And there are people who are very happy at age 60
    0:43:29 are not going to work 18 hour days anymore.
    0:43:32 They’ve got good clients, they got referrals,
    0:43:34 and they want to have time to golf
    0:43:36 and be with the grandkids,
    0:43:39 and they’re happy making $60,000 a year.
    0:43:42 And so it finally dawned on me,
    0:43:44 that’s not my responsibility to say,
    0:43:47 everybody should make $100,000 or $200,000 a year.
    0:43:50 I’m supposed to create an environment
    0:43:54 where they can achieve the level of success they want.
    0:43:55 Period.
    0:43:57 – I love that you called that out.
    0:43:59 I literally had in quotes to say next,
    0:44:01 our job as a leader isn’t about getting everything
    0:44:03 we can from somebody.
    0:44:04 It’s about creating an environment
    0:44:07 in which people can achieve as much as they want.
    0:44:09 That is so powerful.
    0:44:11 So aside from payment structure,
    0:44:14 so I know that you really change the game
    0:44:17 in terms of the amount of commission that people make,
    0:44:19 where if they sell more, they make more.
    0:44:21 Aside from the payment structure,
    0:44:22 how are you creating an environment
    0:44:25 in which people can achieve as much as they want?
    0:44:29 – If he read the book, I talked about leadership.
    0:44:33 And the number one most important factor of a leader
    0:44:35 is the leader sells hope.
    0:44:38 I don’t care if it’s Martin Luther King,
    0:44:42 he’s talking to brown and white people
    0:44:45 of our children can do better, they can be equal.
    0:44:47 We can live in the same neighborhoods,
    0:44:49 we can have the same advantages.
    0:44:54 And he was nonviolent and he tried to preach,
    0:44:56 there’s hope in the future for us.
    0:44:58 If you go back to Reagan,
    0:45:02 Reagan said, make America great.
    0:45:04 The only thing Trump did was say,
    0:45:06 make America great again.
    0:45:09 Hillary said, stronger with Hillary.
    0:45:10 Nobody gave a damn.
    0:45:15 Obama had one word, hope, and he won.
    0:45:19 And so great leaders have to be optimistic,
    0:45:21 but they have to have a dream.
    0:45:25 And they have to sell to their followers
    0:45:30 that we together will have a better life together.
    0:45:33 And so as an entrepreneur,
    0:45:36 I had dozens of people who tried to hire
    0:45:40 my officers away from me in the ’70s and ’80s and ’90s,
    0:45:43 offering them twice what they could make.
    0:45:46 And they never left ’cause we had our dream together.
    0:45:52 And we had this optimism that we would change the world.
    0:45:53 And we did.
    0:45:56 – We’ll be right back after a quick break from our sponsors.
    0:46:00 (whooshing)
    0:46:06 So I know one of your mentors was Dave Stone.
    0:46:08 And you said that his mentorship
    0:46:10 was really instrumental in your early success.
    0:46:13 What were some of the key lessons and strategies
    0:46:14 that you learned from Dave
    0:46:17 that you then carried on throughout your career?
    0:46:19 – I had been licensed for six months.
    0:46:23 I had no intention of being a real estate agent.
    0:46:25 I was buying investment properties,
    0:46:29 but I got a license to maybe save the commission.
    0:46:32 And I looked around at these old people in my office.
    0:46:35 I was still in the military, and they were old.
    0:46:39 I mean, some of them, 40, 50, 60 years old,
    0:46:42 and they’d make a deal once every three or four months.
    0:46:44 And I thought, man, I could do this.
    0:46:48 And six months into it, crew cut haircut, 130 pounds,
    0:46:51 Volkswagen with a crack windshield
    0:46:55 and no air conditioning in Phoenix.
    0:46:59 And in the summer, and not one deal, I quit.
    0:47:02 I got my little cardboard box.
    0:47:03 My manager stood there and said,
    0:47:05 “I didn’t think you would ever make it.”
    0:47:08 And I said, “Well, why the hell did you hire me?”
    0:47:10 And he says, “We’re in the real estate business.
    0:47:11 “Everybody’s got a mother, a brother,
    0:47:13 “a next door neighbor, and a best friend.
    0:47:16 “You never know when you can get a deal.”
    0:47:21 I’d paid to go to Dave Stone’s seminar, $25.
    0:47:26 This is, God, 19, I don’t know, ’67, ’68, whatever it was,
    0:47:30 Mountain Shadows, Country Club in Scottsdale.
    0:47:34 I went, I sat in the front row, even though I’d quit.
    0:47:36 And he was mesmerizing.
    0:47:38 He was so smooth.
    0:47:39 He was so cool.
    0:47:42 He had a gift to gab for everything.
    0:47:44 And he was talking about how to handle objections,
    0:47:46 how to do this, how to do that.
    0:47:48 And I’m sitting there, every break,
    0:47:52 and I jumped up and grabbed his hand, like an idiot.
    0:47:53 Groupie.
    0:47:57 And I said, “Oh, oh my God, Mr. Stone, that’s fascinating.
    0:48:02 “Man, if I had your gift, I could be a success.”
    0:48:03 He says, “How long have you been trying?”
    0:48:04 And I said, “Six months.”
    0:48:06 And he says, “Well, how many deals have you got?”
    0:48:08 And I said, “None.”
    0:48:10 And he says, “If I were you, I’d quit.”
    0:48:11 (laughing)
    0:48:14 And I said, “I did, but I’m going back.
    0:48:15 “I’m going back to work today.
    0:48:18 “I can do this, strange world.
    0:48:20 “I’m going home that night.
    0:48:23 “My stupid Volkswagen with a cracked windshield
    0:48:25 “and no air conditioning.”
    0:48:29 Latino girl, probably about 20 or 21,
    0:48:32 is talking to her father, half English, half Spanish.
    0:48:35 I stopped in to get a gallon of milk for the kids.
    0:48:38 And I said, “Excuse me, are you talking about real estate?”
    0:48:41 She says, “My father’s moving to Albuquerque
    0:48:43 “and we need to sell his house,
    0:48:45 “but we don’t know how to do that.”
    0:48:47 And I looked at him and I said, “Senor,
    0:48:49 “do you know how much a real estate commission is?”
    0:48:51 And he said, “No, Lord, come friend to me,
    0:48:53 “or something, I don’t know what he said.”
    0:48:55 I said, “Do you know what title insurance is?
    0:48:57 “No, Lord, come friend to me.”
    0:48:59 I said, “He needs me.
    0:49:00 “I’m a realtor.”
    0:49:02 I followed him home.
    0:49:07 I listed the house on, this is terrible, $10,500.
    0:49:10 That house today would be $207,000.
    0:49:13 Two full price offers that night.
    0:49:16 The next morning, I’m laying in bed with my wife,
    0:49:19 slapped her on her bottom and say, “Wake up.”
    0:49:20 And she says, “What?
    0:49:23 “You’re sleeping with one hell of a fine realtor, man.
    0:49:26 “100% of my listings have sold for full price
    0:49:27 “in less than two hours.”
    0:49:34 That day, I took the girl and her fiance
    0:49:36 and sold them a house.
    0:49:38 That afternoon, I sold their best friends a house.
    0:49:42 And the next morning, I sold their friends a house.
    0:49:44 So in basically 48 hours,
    0:49:50 I had sold a single-angle person a house.
    0:49:52 The girls hugged me and kissed me and said,
    0:49:55 “Oh my God, my parents don’t even own a house
    0:49:58 “and we now own a house.”
    0:50:01 And the guys slapped me on the back and shook hands
    0:50:04 and said, “Hey, amigo, this is fabulous.
    0:50:06 “My parents don’t own a house.”
    0:50:07 It was a set.
    0:50:12 I did 365 transactions part-time,
    0:50:16 still in the military in the next 365 days.
    0:50:20 The only difference was those four customers
    0:50:23 gave me the confidence to be able to look at the next customer
    0:50:26 and say, “Well, I’ve made three deals this week.
    0:50:30 “The same Volkswagen with a crack windshield,
    0:50:34 “the same 135-pound combat soldier,
    0:50:38 “and overnight, stone changed my life.”
    0:50:40 He gave me the confidence.
    0:50:42 I followed him.
    0:50:44 He helped me design remax when I designed it.
    0:50:49 He gave me a 300-page manual on why it would never work
    0:50:51 and a 20-page attachment that said,
    0:50:54 “But if you do this and this and this, you will.”
    0:50:56 And I was very fortunate.
    0:50:59 I had this unbelievable, remarkable man
    0:51:01 that changed my life.
    0:51:04 – And how did you get him to be your mentor
    0:51:05 if you were struggling?
    0:51:07 Like, what were the ways that you actually got him
    0:51:08 to be your mentor?
    0:51:10 – I was so aggressive.
    0:51:13 I was just a groupie.
    0:51:17 He had to look at me and think, “You idiots.”
    0:51:21 But I pushed it, I pushed it, I pushed it,
    0:51:25 and ended up becoming one of the best friends of my life.
    0:51:27 – I have a similar story.
    0:51:29 When I was first starting out in podcasting,
    0:51:32 I went after literally the top podcaster in my field,
    0:51:35 Jordan Harbinger, and I would just send him stuff.
    0:51:36 Information that I had showed him
    0:51:37 that I was working hard, working hard.
    0:51:40 And finally, he started helping me.
    0:51:41 So that’s how you have to do it.
    0:51:44 You have to show that you’re really, really eager
    0:51:46 and you really, really want the help
    0:51:48 and you’re willing to work hard for it.
    0:51:51 – Lots of people will ask me to mentor them.
    0:51:54 And as you get older, you’re very young.
    0:51:59 But as you get older, you start measuring your hours
    0:52:01 and saying, “What’s important to me?”
    0:52:04 And what’s important to me is giving a hand down
    0:52:07 to help the next person get up the mountain.
    0:52:10 And so many people have been kind to me in my life.
    0:52:15 And so that becomes part of what do you want to do as a mentor?
    0:52:19 The problem with being a mentor is nine out of 10 people
    0:52:24 would nod and take notes and smile, but they won’t execute.
    0:52:28 They’ll ask you for advice and you tell them the advice
    0:52:30 and they say, “Oh, that’s wonderful.”
    0:52:32 And they won’t execute the next day.
    0:52:34 And so you get to the point
    0:52:36 where you don’t want to mentor people
    0:52:38 because you’re wasting my time.
    0:52:41 – I prefer for people to intern for me now
    0:52:43 if they want my mentorship
    0:52:45 because I feel like that’s the way that I can teach them
    0:52:47 and it’s mutually valuable.
    0:52:48 And then they can move on if they want to move on
    0:52:50 or get hired if they want to get hired.
    0:52:53 That’s my preference now.
    0:52:55 Let’s move on to strategy, hiring and firing.
    0:52:57 I know we don’t have that much time left,
    0:52:58 but I definitely want to understand
    0:53:02 what is your strategy around hiring and firing at Remax?
    0:53:05 – Firing is tough.
    0:53:09 I used to brag for 38 years,
    0:53:12 not one individual had left Remax
    0:53:15 as one of my officers on their own.
    0:53:18 I didn’t fire anybody.
    0:53:22 I took a seminar, can’t remember where,
    0:53:26 and it was the first time we think
    0:53:28 that you ought to fire somebody
    0:53:30 is the day you should fire them.
    0:53:32 And yet if you’re a rotor
    0:53:34 or you’re a salesperson or an entrepreneur,
    0:53:36 you want to be liked.
    0:53:40 And so you’ll tolerate nonsense from idiots.
    0:53:45 And the day you finally have the guts to fire somebody,
    0:53:47 the next morning you get up and say,
    0:53:50 “Why the hell didn’t I do that 10 years ago?”
    0:53:53 So the problem with me was my officers
    0:53:56 traveled with me constantly.
    0:53:59 We did 200 and some speaking days a year
    0:54:01 and officers went with me.
    0:54:03 We had breakfast together, lunch together,
    0:54:06 dinner and flights together and cocktails.
    0:54:09 And we went to each other’s marriages and divorces
    0:54:14 and cancer with their parents and our funerals and whatever.
    0:54:18 It’s hard when you’re close friends with everybody.
    0:54:22 So I took this course and I came home to Gale
    0:54:25 and I said, “We got four of these guys
    0:54:27 that I’ve worked with for years
    0:54:32 and they don’t have fire on the belly anymore.
    0:54:35 They feel entitled, they’ve been here 25 years.
    0:54:37 I don’t have to work that hard.”
    0:54:40 And I said, “You and I still work this hard.
    0:54:42 I’ve got to solve this problem.”
    0:54:46 She and I brainstormed and role played.
    0:54:49 And I called each one in individually and I said,
    0:54:52 “Hi, it’s time for a serious conversation.
    0:54:54 I’ve talked to you for two years
    0:54:56 about I don’t think you’ve got the fire on the belly
    0:54:59 and I don’t think you care about the network like we do.”
    0:55:04 And so I’ve made a decision and that decision is,
    0:55:08 I can fire you and give you a two week severance package
    0:55:12 or you can resign and I’ll give you
    0:55:15 a one year severance package, which do you want?
    0:55:19 And that starts the argument of, “No, no, no, no.
    0:55:20 You don’t understand me.
    0:55:21 I really work hard.”
    0:55:23 I said, “Nope, I’m sorry.
    0:55:25 My decision has been made.
    0:55:26 I’m done.”
    0:55:29 This is your decision.
    0:55:31 Two week severance and I fire you
    0:55:37 or you resign and I’ll give you a year severance.
    0:55:38 All four of them took it.
    0:55:42 The next day was a company-wide meeting
    0:55:45 for the employees at headquarters, 400 people.
    0:55:48 We do the meeting, we put out the awards
    0:55:50 and talk about the updates and the end.
    0:55:54 I always said, “Are there any questions for me?”
    0:55:56 So I’m fairly conservative.
    0:56:00 I have a very liberal left-wing Democrat
    0:56:05 in the editorial staff and he stood up and he says,
    0:56:09 “Dave, what the hell did he have on you
    0:56:11 that you didn’t fire him 10 years ago?”
    0:56:15 And now I’m in front of 400 people and I said,
    0:56:18 “I didn’t have the personal courage
    0:56:20 to be the leader that you deserved.”
    0:56:23 And that I finally realized
    0:56:27 that when I don’t fire somebody that’s incompetent,
    0:56:29 I hire three groups of people.
    0:56:31 I hired the individual ’cause they’re pigeonholed.
    0:56:32 I’m never gonna promote them
    0:56:34 or I give them another pay raise.
    0:56:36 I hired the people that worked for them
    0:56:39 ’cause they know that person’s an idiot.
    0:56:41 And I heard myself and my shareholders
    0:56:44 because I didn’t have the personal courage
    0:56:47 to face up to a friendship challenge
    0:56:50 of we were no longer a good fit together
    0:56:52 and the room applauded.
    0:56:54 I was vulnerable.
    0:56:55 I said it was my mistake.
    0:56:58 It’s my fault and they accepted it.
    0:57:02 So when you talk about leadership concepts,
    0:57:05 firing is the most important thing you can do.
    0:57:10 If you have somebody that’s abusing, nasty,
    0:57:15 just unkind to their employees, you’re tolerating that.
    0:57:19 The fact that you don’t make a decision
    0:57:20 is you made the decision.
    0:57:22 If you can’t make the decision, fire ’em.
    0:57:26 You’ve made the decision, I’ll put up with her crap.
    0:57:27 – It’s so true.
    0:57:29 – It’s a tough deal.
    0:57:32 That’s why we get paid the big paycheck, right?
    0:57:36 And so when you talk about leadership,
    0:57:38 that’s the hardest thing.
    0:57:43 Hiring, you should hire very, very slow
    0:57:45 and fire very, very fast.
    0:57:47 – Yeah, with hiring, I love something
    0:57:50 that you mentioned in the book about hiring salespeople
    0:57:52 that I just wanted to touch on before we go.
    0:57:56 You said to hire both hunters and farmers, which I love.
    0:57:58 So tell us about that.
    0:58:02 – In the sales field, there are hunters and farmers.
    0:58:04 The hunters live for the kill.
    0:58:06 They wanna go out, kill something,
    0:58:09 put it over their shoulder, bring it back to TP
    0:58:10 and put it on the ground and say,
    0:58:12 “Hey, let’s have some food.”
    0:58:14 And they wanna go out and hunt again.
    0:58:19 Farmers, they are slow, methodical.
    0:58:21 They wanna build relationships.
    0:58:24 They wanna a lifetime experience with this individual.
    0:58:27 You need both salespeople.
    0:58:31 You need farmers that will have the patience
    0:58:36 to build relationships over periods and periods of years.
    0:58:37 But you still gotta have the hunters
    0:58:40 that can go out and score the kill.
    0:58:42 – Dave, this was such an awesome conversation.
    0:58:43 I feel like we learned so much
    0:58:46 about your own personal entrepreneurship journey
    0:58:48 and as well as your leadership principles
    0:58:49 and everything like that.
    0:58:51 I always end my show with two questions
    0:58:52 that I ask all of my guests
    0:58:55 and this can be outside of everything
    0:58:55 that we talked about today.
    0:58:58 Just answer from your heart.
    0:59:01 The first one is what is one actionable thing
    0:59:03 our young and profitors can do today
    0:59:06 to become more profitable tomorrow?
    0:59:08 – I think the most actionable thing is
    0:59:11 you have to be a lifelong learner.
    0:59:13 One of the biggest deficiencies I’ve seen
    0:59:16 and many of the officers that I’ve hired
    0:59:18 is they got their college degree.
    0:59:19 They know it all.
    0:59:20 They don’t buy a book.
    0:59:22 If they buy a book, it’s fiction
    0:59:24 and they don’t continue to study
    0:59:27 and find out how do I build my business?
    0:59:30 How do I build my life?
    0:59:33 That’s the most important aspect of
    0:59:36 the most successful people I’ve mentored are sponges.
    0:59:39 They won’t learn from everybody, everything they can
    0:59:41 and they will execute.
    0:59:43 – And I know you’re a huge, huge reader.
    0:59:45 So what recommendations do you have
    0:59:48 in terms of books that us entrepreneurs read?
    0:59:51 The old classic is “Think and Grow Rich”
    0:59:53 – Yeah, I love it. – by Napoleon Hill.
    0:59:57 It is tried, it’s tired.
    0:59:59 Half the book is worthless.
    1:00:01 The first half is pretty darn good.
    1:00:05 I think the best book out there
    1:00:09 is “Success Principles” by Jack Canfield
    1:00:12 and it is a fabulous book.
    1:00:15 It’s big, it’s six, 700 pages,
    1:00:18 but it’s three to four page chapters
    1:00:21 that you can pick and choose what you wanna learn from.
    1:00:23 It’s very motivational.
    1:00:28 The other thing is “The Compound Effect” by Darren Hardy
    1:00:33 and it is little steps done repeatedly over years
    1:00:37 gives you amazing results.
    1:00:40 And the final one would be “Kaizen”
    1:00:44 and that’s the Japanese concept of 1% improvement
    1:00:47 of 100 things every day
    1:00:50 and not 100% improvement once a year.
    1:00:52 – I’m gonna make it my mission
    1:00:55 to read all four of those books by the end of the year.
    1:00:56 Thanks to you.
    1:00:57 And what would you say?
    1:01:00 This is the last and final question.
    1:01:03 What is your secret to profiting in life?
    1:01:08 – Profiting in life is what is your goal?
    1:01:13 And so if your goal was to reach 65 and retire
    1:01:17 and go fishing, then you’ve been successful.
    1:01:19 I have an interesting company right now.
    1:01:22 It’s called PortaSubs.
    1:01:25 It’s a sub sandwich company.
    1:01:29 The highest best quality sub sandwich in the world
    1:01:33 is based really in Nevada with a couple of joining states.
    1:01:36 And I bought it from the guy that retired
    1:01:40 but I’m developing it very rapidly.
    1:01:43 And regional developer model, we get 20-some regions sold,
    1:01:46 we’re gonna expand, we’ll be worldwide in no time at all.
    1:01:50 The thing that was fascinating to me about it
    1:01:54 was in the real estate business, I change,
    1:01:57 I should say Gail and I change the world
    1:01:58 because we hired women.
    1:02:02 And in ’73, that was not popular.
    1:02:04 The part-time housewife was like,
    1:02:06 “Well, they’re not serious about the business.
    1:02:08 “They’re taking jobs away from a white man.”
    1:02:09 All of the crap.
    1:02:13 It was an old white man’s white-haired deal.
    1:02:15 So we changed a lot of lives,
    1:02:17 but we changed it with women.
    1:02:20 Eventually, we changed it multicultural
    1:02:23 as we became big and successful.
    1:02:25 PortaSubs is amazing.
    1:02:30 It’s much less expensive to start a sub sandwich shop
    1:02:33 than it is to start a McDonald’s for $10 million.
    1:02:37 And it is a chance for multiculturals
    1:02:42 to get their foot into private ownership of an enterprise.
    1:02:47 And so 65% of our franchisees are multicultural.
    1:02:52 In most cases, the first person in the family
    1:02:56 to own a business, and it’s been around 50 years.
    1:03:00 And so we have multicultural people whose children
    1:03:03 are the first children in their family to go to college
    1:03:06 and are now taking over the business.
    1:03:10 And so to me, entrepreneurship is about
    1:03:12 getting a chance to get your foot in the door.
    1:03:17 And so a lot of times, the first generation are immigrants.
    1:03:20 They may be a teacher or a doctor in a foreign country
    1:03:22 that can’t do that here.
    1:03:27 And so they become a janitor or whatever or a carpenter.
    1:03:30 Second generation usually is one of the trades.
    1:03:34 And the third generation are small business owners
    1:03:35 that are hiring the trades.
    1:03:38 It is a wonderful evolution of people
    1:03:41 having a chance to build family wealth.
    1:03:43 – Well, Dave, thank you so much.
    1:03:46 I feel like you gave so much information,
    1:03:47 your wealth of knowledge.
    1:03:48 I’m so happy that you’re giving back
    1:03:50 and building this legacy.
    1:03:51 Your book was so wonderful.
    1:03:53 Where can everybody learn more about you
    1:03:54 and everything that you do?
    1:03:56 – DaveLenniger.com.
    1:03:58 You can follow me along there.
    1:04:01 There’s all kinds of things like God knows what,
    1:04:03 Facebook, Instagram, et cetera, et cetera.
    1:04:06 But it’s a pleasure to be able to give back
    1:04:10 and maybe help the next person one more step up.
    1:04:12 – Thank you so much, Dave.
    1:04:13 – You’re a delight.
    1:04:14 Thank you, FOMOX.
    1:04:17 (upbeat music)
    1:04:21 – Yeah, bam, I really am blessed to have this job.
    1:04:24 I love my job because it’s so amazing to speak
    1:04:28 with true business legends like Dave Lenniger.
    1:04:31 I got to hear the story behind a company like Remax,
    1:04:33 how it got its start, how it’s scaled,
    1:04:36 and how it’s turned itself into an iconic brand.
    1:04:38 Dave has lived and breathed
    1:04:40 being an entrepreneur for decades now
    1:04:44 and has experienced the highs and the lows that go with that.
    1:04:45 I loved hearing the question he likes
    1:04:47 to ask other entrepreneurs
    1:04:49 when he’s considering to invest in their company.
    1:04:52 Why are you starting this business?
    1:04:54 It’s a simple question, but it’s an answer
    1:04:56 that can tell you everything you need to know
    1:04:59 about somebody’s motivations, their drive,
    1:05:01 and whether they have a chance at succeeding.
    1:05:05 Like Simon Sinek always says, “What’s your why?”
    1:05:08 Dave also knows a few things about when and when not to
    1:05:10 take feedback as a leader.
    1:05:12 Be willing to accept criticism,
    1:05:14 but also be strong enough to believe in yourself
    1:05:17 and discard feedback that’s not helpful.
    1:05:19 Dave also learned the hard way
    1:05:22 why sometimes you have to fire a low-performing employee.
    1:05:25 If you don’t, you’re hurting three groups of people,
    1:05:27 that employee who you will never promote,
    1:05:29 the people who work with them
    1:05:31 and who know that that person can’t do their job
    1:05:33 and so it brings them down.
    1:05:35 And finally, yourself and your company,
    1:05:38 because their continued presence at your company
    1:05:40 shows you that you don’t have the courage
    1:05:42 to make a tough decision.
    1:05:46 And that will definitely impact your confidence.
    1:05:48 After all, leadership, as Dave put it,
    1:05:51 is really the impact that you have on others.
    1:05:53 It’s not about getting everything that you want,
    1:05:55 it’s about creating an environment
    1:05:58 in which others can achieve what they want.
    1:06:01 Thanks for listening to this episode of Young and Profiting.
    1:06:03 If you wanna have an impact on others
    1:06:05 by sharing some of these leadership lessons
    1:06:07 that you learned today on the podcast,
    1:06:09 then please share this episode with somebody
    1:06:14 who could use it, spread this podcast by word of mouth.
    1:06:16 And if you did enjoy this show and you learned something,
    1:06:18 then take a couple minutes and drop us a review
    1:06:22 on Apple Spotify or wherever you listen to your podcast.
    1:06:24 Guys, I’m not lying when I say
    1:06:26 that I check my reviews every day.
    1:06:30 This is a platform that does not have two-way communication.
    1:06:32 It’s not like social media where you guys can DM me
    1:06:33 or comment.
    1:06:35 The only way that I know that you guys are really listening
    1:06:39 and appreciating the show is by writing me a review.
    1:06:40 I check them out all the time.
    1:06:43 I wanna know the good, I wanna know the bad.
    1:06:45 Tell me what you think about the show.
    1:06:48 And if you prefer to watch your podcasts as videos,
    1:06:49 you can find me on YouTube.
    1:06:51 Just look up the show, Young and Profiting.
    1:06:53 You’ll find all of our episodes on there.
    1:06:54 If you wanna find me on Instagram,
    1:06:58 it’s Yap with Hala, Y-A-P with Hala.
    1:07:00 Or LinkedIn, search my name, it’s Hala Taha.
    1:07:02 And I, of course, wanna take a minute
    1:07:05 to shout out my amazing production team.
    1:07:07 Thank you guys so much for all your hard work,
    1:07:08 all your dedication.
    1:07:10 You make the show what it is.
    1:07:11 This is your host, Hala Taha,
    1:07:14 AKA The Podcast Princess, signing off.
    1:07:17 (upbeat music)
    1:07:20 (upbeat music)
    1:07:22 (upbeat music)
    1:07:26 (upbeat music)
    1:07:35 [BLANK_AUDIO]

    When Dave Liniger co-founded RE/MAX, the early days were rocky. Believing he had all the answers, he led with aggression and stubbornness. But Dave soon realized that if he wanted to succeed, he had to change. He embraced being coachable and became willing to ask for feedback. Decades later, he has transformed RE/MAX into a global powerhouse and earned his place as a true real estate icon, inspiring countless entrepreneurs along the way. In this episode, Dave shares the entrepreneurship lessons and leadership principles that have guided him over the last 50 years leading RE/MAX.

    In this episode, Hala and Dave will discuss: 

    (00:00) Introduction

    (02:45) From Farm Life to the Air Force

    (03:45) The RE/MAX Origin Story

    (06:57) Hard Lessons & Tough Feedback

    (10:55) What Success Really Means

    (15:44) How to Make an Impact

    (20:23) Leadership Traits That Build Trust

    (30:23) Why Honesty Wins in Leadership

    (32:31) Revolutionizing Real Estate

    (36:55) Leadership Secrets for True Success

    (47:08) Hiring Right, Firing Fast

    Dave Liniger is the co-founder of RE/MAX, one of the world’s most recognized real estate brands with over 9,000 offices in more than 110 countries. Starting in 1973, Dave and his wife Gail redefined the real estate game by creating the groundbreaking 100% commission model, empowering agents to keep what they earn while benefiting from top-tier support. He’s a multi-venture entrepreneur, having dabbled in industries like oil drilling, NASCAR racing, and Arabian horse breeding, among others. He is also a philanthropist, adventure enthusiast, author of The Perfect 10, and host of the Ambition & Grit podcast.

    Connect with Dave:

    Dave’s Website: daveliniger.com

    Dave’s LinkedIn: linkedin.com/in/dave-liniger

    Dave’s Instagram: instagram.com/davelinigerofficial

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    Resources Mentioned:

    Dave’s Book, The Perfect 10: 10 Leadership Principles to Achieve True Independence, Extreme Wealth, and Huge Success: https://www.amazon.com/Perfect-10-Leadership-Principles-Independence/dp/1637631839 

    Think and Grow Rich by Napoleon Hill: https://www.amazon.com/Think-Grow-Rich-Landmark-Bestseller/dp/1585424331 

    The Success Principles: How to Get from Where You Are to Where You Want to Be by Jack Canfield: https://www.amazon.com/Success-Principles-TM-Where-Want/dp/0060594896 

    The Compound Effect by Darren Hardy: https://www.amazon.com/Compound-Effect-Darren-Hardy/dp/159315724X 

    Kaizen: The Japanese Method for Transforming Habits, One Small Step at a Time by Sarah Harvey: https://www.amazon.com/Kaizen-Japanese-Method-Transforming-Habits/dp/1529005353 

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