00:00:00
And that's how I get from zero to
00:00:01
$100,000.
00:00:02
What skill would get you back to being a
00:00:04
$100 million entrepreneur?
00:00:06
I think it's actually stacking skills.
00:00:08
The assumption is that you have to stay
00:00:09
in the same vehicle. The fastest way to
00:00:10
make $100,000 is not the fastest way to
00:00:12
make $10 million. If I have zero, then
00:00:15
I'm going to do something that costs
00:00:16
zero capital and is pure skill. I might
00:00:18
drive Uber for a,000 bucks, get my
00:00:19
thousand, then spend the,000 on ads to
00:00:21
make my 30,000. And during that process,
00:00:24
I can reinvest that to get the hundred.
00:00:25
Now with the hundred I can flip that
00:00:27
into and the key of each of those is
00:00:28
that none of those are really businesses
00:00:30
per se and that like I can just walk
00:00:31
away from them whenever I don't have
00:00:33
ongoing delivery or ongoing commitments
00:00:35
that gives you a lot of flexibility. A
00:00:36
lot of entrepreneurs at least the ones
00:00:38
that I know have had these moments where
00:00:39
they needed to generate a lot of capital
00:00:41
in a short period of time and have a few
00:00:42
kind of like fast money skills that they
00:00:45
don't flex normally because there's
00:00:47
there's caps to them because it's not
00:00:48
the fastest way to 100 million but it
00:00:50
might be the fastest way to 100. Being
00:00:52
flexible with how you're generating
00:00:54
capital at different levels can speed
00:00:55
you through that process a little
00:00:56
faster.
00:00:57
You have to find your unfair advantage.
00:00:58
One of your unfair advantages is you're
00:01:00
very good at paid promotion and getting
00:01:02
to the masses, right? That was never
00:01:03
really my unfair advantage. So my
00:01:06
background when I didn't have any cash,
00:01:07
I didn't know how to go to people
00:01:09
directly. Didn't know how to do paid
00:01:11
ads. I wasn't sure how to do promotion,
00:01:13
which is a volume game that you have to
00:01:14
be good at. So I went towards
00:01:16
partnerships. I said I can get to fewer,
00:01:18
bigger, faster. There's like two paths
00:01:20
to making money quickly if you don't
00:01:22
have any. And and the first path has
00:01:24
less risk, but perhaps midsize returns.
00:01:26
And that is go find the best
00:01:28
entrepreneur, founder, business builder
00:01:30
you can find who you can still get to on
00:01:33
a daily basis in some way and go work
00:01:34
for them. Learn as much as you can, earn
00:01:36
as much as you can. As you learn more,
00:01:38
ask for more continuously over time. And
00:01:40
then the second way is to go do it
00:01:42
yourself, right? Which is high risk but
00:01:44
probably highest reward. I had no
00:01:46
brilliant idea. I didn't have a business
00:01:47
idea. I had no idea what to do next and
00:01:49
I'm pretty riskaverse actually. I was
00:01:51
like way too scared to go do do what you
00:01:53
guys all did, which is start businesses
00:01:55
from scratch. Instead, I partnered up. I
00:01:56
went to another company that needed to
00:01:58
raise capital and get a few investments.
00:02:01
And I went to them and said, "I can
00:02:02
raise money from a few of these people
00:02:03
that I know. If I do that, can I
00:02:05
negotiate a little bit of equity in the
00:02:07
company? Can I negotiate upside return
00:02:10
for the money and dollars that I bring
00:02:12
in? And I want to I want to be a partner
00:02:13
in the company." So, you don't always
00:02:15
have to start your own thing. If you can
00:02:17
negotiate with partnerships, I think
00:02:18
sometimes you can skip to the front of
00:02:20
the line if you're not a great natural
00:02:22
salesperson. And neither of them are
00:02:24
better than any others. There's just
00:02:25
better for you.
