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