How to Start Building Wealth When Young: Advice for Success from Brad Sugars

The $100M Entrepreneur Podcast

In this episode of The Big Success Podcast, Harvey sits down with world-renowned entrepreneur and business coach Brad Sugars to discuss the secrets to building wealth, mastering sales and marketing, and creating a scalable business. Brad shares his proven strategies for identifying the right career path, making smart investments, and leveraging skills for long-term success. They dive into the power of knowledge before investing, the importance of team-building, and how young entrepreneurs can navigate the business world.

About Harvey:
Harvey is a driven entrepreneur and podcast host passionate about business, personal development, and financial success. As the host of this Big Success episode, he interviews some of the world's top business minds to uncover the principles of success, smart investing, and effective leadership. With a deep interest in wealth-building and entrepreneurship, Harvey brings insightful questions and engaging conversations to help his audience learn, grow, and achieve their own big success.

About Brad Sugars
Internationally known as one of the most influential entrepreneurs, Brad Sugars is a bestselling author, keynote speaker, and the #1 business coach in the world. Over the course of his 30-year career as an entrepreneur, Brad has become the CEO of 9+ companies and is the owner of the multimillion-dollar franchise ActionCOACH®. As a husband and father of five, Brad is equally as passionate about his family as he is about business. That’s why, Brad is a strong advocate for building a business that works without you – so you can spend more time doing what really matters to you. Over the years of starting, scaling and selling many businesses, Brad has earned his fair share of scars. Being an entrepreneur is not an easy road. But if you can learn from those who have gone before you, it becomes a lot easier than going at it alone.

Please click here to learn more about Brad Sugars: https://bradsugars.com/

Build a Business That Gives You More Time, Money & Life:
Get The $100M Playbook: https://go.bradsugars.com/100m-playbook-ebook


2025-01-29 37 min Transcript 6 chapters

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WEBVTT

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<v Speaker 1>The dumbest thing that's ever asked of a young person is what do you want to do with your life?

00:00:04.490 --> 00:00:06.445
<v Speaker 1>You don't have to play what you want to do in your life.

00:00:06.445 --> 00:00:06.907
<v Speaker 1>You have to play.

00:00:06.907 --> 00:00:07.790
<v Speaker 1>What do you want to do first?

00:00:08.320 --> 00:00:13.553
<v Speaker 2>Brent Trigg is going to be asking him all sorts of questions on success, teams, businesses, passions.

00:00:13.980 --> 00:00:18.871
<v Speaker 1>The sooner you can get over the need to impress others, the sooner you'll be successful.

00:00:18.871 --> 00:00:28.068
<v Speaker 1>I mean the old saying of if you solve a rich person's problem problem, you pay rich people money is still true today welcome to the big success podcast.

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<v Speaker 2>Today I've got the privilege of interviewing brandt triggers himself, so enjoy all right.

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<v Speaker 2>So thank you very much, brad.

00:00:33.707 --> 00:00:37.624
<v Speaker 2>So I can assure you that I think we can educate a lot of your people.

00:00:37.624 --> 00:00:48.088
<v Speaker 2>So the first question I wanted to start with was as a young person, we can get a lot of ideas and more different things, shiny objects which one do we go down?

00:00:48.088 --> 00:01:00.368
<v Speaker 2>So my question is as a young person, should you focus on one thing that would then allow you to go and do more things, or should you try and test things, and can you do multiple things to create success?

00:01:03.322 --> 00:01:11.230
<v Speaker 1>I believe that each person is different, but the majority of the time you should be trying a whole bunch of different things and then, once you find the thing, stick to it.

00:01:11.230 --> 00:01:12.192
<v Speaker 1>And how do you know?

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<v Speaker 1>It's the thing?

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<v Speaker 1>Uh, usually three parts to it.

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<v Speaker 1>Number one you love it.

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<v Speaker 1>Okay, so you enjoy doing it.

00:01:19.433 --> 00:01:20.242
<v Speaker 1>You enjoy it.

00:01:20.242 --> 00:01:29.424
<v Speaker 1>You wake up wanting to do it, you enjoy breeding about it, you join clubs about it mental, whatever it is but you love doing.

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<v Speaker 1>Second thing is um that it it pays well to do that thing, though you know you can make your passion taking care of people and you can do that for absolutely no money.

00:01:41.519 --> 00:01:44.066
<v Speaker 1>You can find ways to do it where it's paid well.

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<v Speaker 1>I mean the old saying of if you solve the rich person's problem, you pay rich people money is still true today.

00:01:50.769 --> 00:01:54.242
<v Speaker 1>So, do you love it does?

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<v Speaker 1>Does the market pay well for it?

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<v Speaker 1>And third, are you good at it?

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<v Speaker 1>You know if you're good at it, you love it and market pays well for it.

00:02:01.103 --> 00:02:06.013
<v Speaker 1>That's something you should stay with, um just because you love it.

00:02:06.013 --> 00:02:11.634
<v Speaker 1>If you're no good at it, you know like uh, you know I want to be an actor.

00:02:11.634 --> 00:02:13.882
<v Speaker 1>Well, sorry, dude, you love doing it.

00:02:13.882 --> 00:02:17.096
<v Speaker 1>But the market is telling you you're not very good at type thing.

00:02:17.096 --> 00:02:20.265
<v Speaker 1>You know the market will give you feedback pretty day, straight away.

00:02:20.265 --> 00:02:22.169
<v Speaker 1>But yeah, those three things.

00:02:22.230 --> 00:02:27.185
<v Speaker 1>And then, once you're focused on it, become great at preferably working for someone else.

00:02:27.185 --> 00:02:39.705
<v Speaker 1>So if you can work for someone else and become great at something, uh, on their night they're paying you to train, they're paying you to learn, they're paying you to get better at, paying you to make mistakes, etc.

00:02:39.705 --> 00:02:42.692
<v Speaker 1>Uh, then start your own business.

00:02:42.692 --> 00:02:44.808
<v Speaker 1>Once you're great at something, start your own business doing it.

00:02:44.808 --> 00:02:45.855
<v Speaker 1>And if great at something, start your own business doing it.

00:02:45.855 --> 00:02:54.307
<v Speaker 1>And if you're sitting there wondering, am I ready to start my own business, the fact that you asked the question means yes, you're generally ready to start your own business.

00:02:54.307 --> 00:03:00.193
<v Speaker 1>And if you have to start it as a sideline thing, then do that.

00:03:00.193 --> 00:03:03.367
<v Speaker 1>I found that for me when I was young.

00:03:03.367 --> 00:03:13.483
<v Speaker 1>I tried a whole bunch of things on the side and even though they didn't pan out, I learned sales in that one, and then in that one I learned marketing and then in that one you know what I mean.

00:03:13.483 --> 00:03:17.131
<v Speaker 1>You learn from all of those early businesses.

00:03:17.211 --> 00:03:26.639
<v Speaker 2>I guess you call let's say, for example, I'm good at social media, I mastered it, I've got proven results and I can turn it into a business.

00:03:26.639 --> 00:03:30.008
<v Speaker 2>But let's say I also have a passion for podcasting.

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<v Speaker 2>I want to do a podcast as well.

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<v Speaker 2>As In this moment where I should maybe go all in on social media and build a business from it, can I have that little thing on the side which is my passion to go alongside it, or is the moment where you should go all in?

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<v Speaker 2>Is that where it's got to be 100% focused?

00:03:45.759 --> 00:03:46.622
<v Speaker 1>Well, what if?

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<v Speaker 1>And then I want you to think about this right what you've learned is the skill of marketing.

00:03:50.469 --> 00:03:56.567
<v Speaker 1>Now, if you go into a business doing that for people, all you're doing is selling time for money.

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<v Speaker 1>What if you went into a business selling a product that you could have someone manufacture over here, someone ship it over here?

00:04:04.344 --> 00:04:07.383
<v Speaker 1>You build a website selling that product.

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<v Speaker 1>Use your social media skills, your podcasting skills, use all of those skills for that product.

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<v Speaker 1>Then you can scale it to whatever size, wherever in the world, based on whatever the product is.

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<v Speaker 1>You know, find a product that has a niche, or find product that you can go and build and sell and and make it massive.

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<v Speaker 1>You know, I was just out of the blue the other day.

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<v Speaker 1>I loved wine and so I was trying to buy a port wine opener, which is like a big metal thing that sits and and you heat it up and it cracks the ball.

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<v Speaker 1>Well, in in the United States I'm looking around for one and there's one company that sells this and they go holy shoot.

00:04:48.732 --> 00:05:02.122
<v Speaker 1>I should start a business just selling these things, import them from somewhere or get a guy in Mexico to make them for me and ship them up here by the thousands and then I just have a warehouse that they go to and they auto ship it for me.

00:05:02.122 --> 00:05:03.403
<v Speaker 1>So it's no business.

00:05:03.403 --> 00:05:08.531
<v Speaker 1>All I do is build a website, build some social hey presto, off we go type thing.

00:05:09.733 --> 00:05:11.574
<v Speaker 1>One of my buddies just went out and built a.

00:05:11.574 --> 00:05:17.392
<v Speaker 1>See, if you're going to use your skills, use it for something that is easy to make money from.

00:05:17.392 --> 00:05:26.350
<v Speaker 1>He went and built himself into the second most they are probably not the first most influential person on tequila in the world.

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<v Speaker 1>Now it took him a year and a half, two years Now.

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<v Speaker 1>He's great at marketing and great at all those things, but all of a sudden now he's got every tequila company in the world wanting to pay him to promote their product type thing.

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<v Speaker 1>So don't just think that that skill is the business.

00:05:43.730 --> 00:05:53.112
<v Speaker 1>See what if you went and bought a restaurant down the way and said I found a restaurant that is not run well by management uh, it needs fixing up.

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<v Speaker 1>I can get in there, run it better, hire a better chef, but the bones of it are great, the site is great, all those sorts of things, and I just turned my marketing head on and my filming and all the stuff I do.

00:06:06.278 --> 00:06:14.125
<v Speaker 1>And hey, breast, my restaurant is amazing because the way I film the food production is so different and grabs people and it gets them all in.

00:06:14.125 --> 00:06:17.875
<v Speaker 1>I create two cocktails that are insta cocktails, you know.

00:06:17.875 --> 00:06:18.944
<v Speaker 1>You know what I mean by that.

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<v Speaker 1>Uh, the older generation watching that.

00:06:21.175 --> 00:06:25.045
<v Speaker 1>That means a cocktail that looks really cool when you film it or when you photograph it.

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<v Speaker 1>Okay, so that.

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<v Speaker 1>But that's the sort of thing I I don't say take your skills and just be a consultant with it, because it's just trading time for money, trading on a thing that you can scale to the nth degree and be that amazing.

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<v Speaker 2>so, as a young person, if you find yourself getting a little bit of money you've had a few successful endeavors should you invest that money or should you invest it into yourself and use that money to make more money?

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<v Speaker 1>Because I know a lot of people, Knowledge is the first thing you have to invest in, and unfortunately, a lot of people start investing their money before they have any knowledge and therefore they don't have any money.

00:07:06.805 --> 00:07:13.050
<v Speaker 1>If you've been investing in real estate, go study real estate for a year or two and learn it.

00:07:13.050 --> 00:07:21.971
<v Speaker 1>If you're going to invest in businesses, go study businesses for a year or two and learn it, so that when you do put your entire savings into something, it's not gone.

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<v Speaker 1>You know, return of investment is more important than return on investment.

00:07:27.244 --> 00:07:37.754
<v Speaker 1>That's why the old thing of you know if it seems too good to be true, it probably is Well in investing, that's almost always the case, and so you know I would look at it.

00:07:39.120 --> 00:07:40.904
<v Speaker 1>I would suggest two things for investing.

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<v Speaker 1>Number one you got to have a written set of rules.

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<v Speaker 1>Okay, and if you don't know enough to write a set of rules meaning I'll buy it if it meets these criteria I won't buy it if these are, if any of these things are present, I think if you can write a set of rules, then you have enough knowledge to invest.

00:07:58.084 --> 00:08:03.565
<v Speaker 1>If you can't write yourself a set of rules, you don't have enough knowledge do you get a set of rules?

00:08:04.108 --> 00:08:05.630
<v Speaker 2>Do you learn that from investors?

00:08:05.651 --> 00:08:06.572
<v Speaker 1>So should you be making.

00:08:06.572 --> 00:08:08.427
<v Speaker 1>No, you should learn that from investors.

00:08:08.427 --> 00:08:14.968
<v Speaker 1>So people like me have written books on the subject, other podcasts out there, all that sort of thing.

00:08:14.968 --> 00:08:16.567
<v Speaker 1>You should be getting enough knowledge.

00:08:16.567 --> 00:08:25.132
<v Speaker 1>But for real estate, when I was young, I would just go to a city and I would pay the top realtor in that town 200 bucks to drive me around and teach me everything about the city.

00:08:25.132 --> 00:08:30.644
<v Speaker 1>And most of the time, if they're worth their salt and said don't give me 200 dollars, I'm just going to take around, show you everything.

00:08:30.644 --> 00:08:32.409
<v Speaker 1>And and do that now.

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<v Speaker 1>If any of them were too arrogant because oh, you're a young man, I'm not going to waste my time showing you great, where's a young person in this office that can drive me around and show me, type thing, uh, but I would always go for knowledge first, and if you still have to ask the question, what should I invest in, then you don't have enough knowledge to be invested.

00:08:53.340 --> 00:08:58.188
<v Speaker 1>Knowledge comes first so you don't lose everything it's.

00:08:58.769 --> 00:09:00.634
<v Speaker 2>What's your opinion on failing to learn?

00:09:00.634 --> 00:09:02.403
<v Speaker 2>Or because I know a lot of young people there.

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<v Speaker 2>It can be black and white for them learning from successful people like so, but still go and do it themselves off their own.

00:09:09.836 --> 00:09:14.009
<v Speaker 1>Well, they're just bad it's hot, yeah it, that's gonna happen.

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<v Speaker 1>Um, unfortunately, there's an emotion to learning, and that's why a lot of courses are better than books and stuff, because when you're in the course, you get the emotion behind it and you can emotionally learn that next thing.

00:09:29.326 --> 00:09:38.792
<v Speaker 1>Uh, when I you know, when you work for someone else and you're investing in marketing, it's not your money, so there's no emotion attached to it.

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<v Speaker 1>Once you start your own business, it's your money.

00:09:42.046 --> 00:09:44.971
<v Speaker 1>There's a ton of emotion attached to that.

00:09:44.971 --> 00:09:51.596
<v Speaker 1>When you go and cut a check for 500 quid to run amped up, you're like, oh, oh, I don't know, let's see.

00:09:51.596 --> 00:10:03.573
<v Speaker 1>Whereas if you're working for me and I go, yeah, don't spend a thousand quid on testing those ads, you're like, yes, god, and you spend a thousand quid in the heartbeat because it's not your money, you know.

00:10:03.573 --> 00:10:10.460
<v Speaker 1>So that emotional level has to be attached to learning as well, and so that's where they always say knowledge is power.

00:10:10.460 --> 00:10:11.743
<v Speaker 1>It's not really true.

00:10:11.743 --> 00:10:13.065
<v Speaker 1>Wisdom is power.

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<v Speaker 1>Wisdom comes from acting on the knowledge.

00:10:15.910 --> 00:10:20.664
<v Speaker 1>So can you save yourself a ton of mistakes by learning from other people?

00:10:20.664 --> 00:10:26.902
<v Speaker 1>Yes, so save as many mistakes as you can, but you're still going to make mistakes, you know.

00:10:26.902 --> 00:10:29.850
<v Speaker 1>There's I, I failing.

00:10:29.850 --> 00:10:30.412
<v Speaker 1>Is.

00:10:30.412 --> 00:10:33.100
<v Speaker 1>I like it with failing because it's not failure.

00:10:33.100 --> 00:10:36.245
<v Speaker 1>Uh, you're only a failure if you stop.

00:10:36.245 --> 00:10:39.191
<v Speaker 1>You've only failed if you stop.

00:10:39.191 --> 00:10:44.270
<v Speaker 1>If you keep going, it's just a mistake, it's just a lesson.

00:10:44.270 --> 00:10:49.206
<v Speaker 1>And but the thing is, if you don't take the lesson from your stupidity, then you're double.

00:10:49.206 --> 00:10:51.471
<v Speaker 1>You're double dumb, as they sort of call it.

00:10:51.471 --> 00:10:54.090
<v Speaker 1>You know it's like yeah, I just did the same dumb thing again.

00:10:54.090 --> 00:10:56.099
<v Speaker 1>Excellent work, congratulations.

00:10:56.099 --> 00:10:57.602
<v Speaker 1>How about we don't do that face sign?

00:10:58.565 --> 00:11:03.924
<v Speaker 2>how would you rank the importance of skills to learn when you're young between marketing and sales.

00:11:03.924 --> 00:11:09.249
<v Speaker 2>I know that they eventually probably do compound and ham it, but if you had to pick, which one would you learn first?

00:11:09.780 --> 00:11:15.888
<v Speaker 1>Oh, if I was to learn first, I'd learn sales, because you can hunt for sales In the beginning.

00:11:15.888 --> 00:11:24.830
<v Speaker 1>You don't really need marketing because you can go out and just knock on doors, make phone calls, you can get in front of people sort of thing, you can network.

00:11:24.830 --> 00:11:27.682
<v Speaker 1>And if you can get in front of people sort of thing, you can network, you can.

00:11:27.682 --> 00:11:29.988
<v Speaker 1>And if you can sell, you can make those early sales.

00:11:29.988 --> 00:11:40.812
<v Speaker 1>So, having the skill of sales probably where I go first now, that being said, it takes less time to learn sales than it does market.

00:11:40.812 --> 00:11:44.126
<v Speaker 1>You can learn what area of marketing fairly quickly.

00:11:44.126 --> 00:11:52.261
<v Speaker 1>You can't learn marketing quickly, like there's the whole branding side, there's digital, there's relationship marketing, there's direct marketing.

00:11:52.261 --> 00:11:55.668
<v Speaker 1>There's so many things like just learning.

00:11:55.688 --> 00:11:57.572
<v Speaker 1>I don't know youtube.

00:11:57.572 --> 00:12:12.410
<v Speaker 1>I've spent the last 12 months and I've got to say over 100 brand in consultants, coaches, teachers studying youtube and I reckon I've learned about 10 of what I need to know.

00:12:12.410 --> 00:12:18.427
<v Speaker 1>You know, if I want to be amazing at youtube, then that's going to take a lifetime of learning, sort of thing.

00:12:18.427 --> 00:12:19.107
<v Speaker 1>That's uh.

00:12:19.107 --> 00:12:25.190
<v Speaker 1>But what marketing does so with sales is a one at a time process.

00:12:25.190 --> 00:12:28.099
<v Speaker 1>Marketing is a multiple at a time process.

00:12:28.099 --> 00:12:42.934
<v Speaker 1>So sales is like knock on a door, get one deal, go to the next one, whereas marketing is had 100 people knock on my door and do deals with X, number off the 100.

00:12:42.934 --> 00:12:43.981
<v Speaker 1>So if you want to get started in 100.

00:12:43.981 --> 00:12:53.842
<v Speaker 1>So if you want to go, if you want to get started in sales, but when you want to scale, it's marketing, and usually paid for marketing, because only paid for marketing really scales well.

00:12:55.124 --> 00:12:55.884
<v Speaker 2>As a young person.

00:12:55.884 --> 00:13:00.297
<v Speaker 2>There's a lot of shiny objects intro with things like tick-tock Instagram.

00:13:00.297 --> 00:13:05.375
<v Speaker 2>You can get caught up in seeing other head teenagers in Dubai and the Lamborghinis.

00:13:05.375 --> 00:13:07.946
<v Speaker 2>How do you Set?

00:13:07.966 --> 00:13:08.346
<v Speaker 1>that song.

00:13:08.346 --> 00:13:09.369
<v Speaker 1>Let me be realistic.

00:13:09.369 --> 00:13:13.158
<v Speaker 1>Teenager in Dubai in their dad or mom's labor yeah, let's start.

00:13:13.158 --> 00:13:15.448
<v Speaker 1>Successful Rizal, go shit on bullshit.

00:13:15.489 --> 00:13:23.576
<v Speaker 2>All right, they've rented it or they we go, you know, but I see for a lot of people they don't understand the whole aspect of it.

00:13:23.576 --> 00:13:24.649
<v Speaker 2>They see it for how it is.

00:13:24.649 --> 00:13:32.096
<v Speaker 2>What would you say to that person that's maybe questioning their own ability or thinking that they have to keep switching different lanes?

00:13:32.096 --> 00:13:33.147
<v Speaker 2>Holy shit.

00:13:33.167 --> 00:13:41.658
<v Speaker 1>You got a long time to worry about that sort of stuff, you know, I think when you're really young, it's your parents' opinions that matter most.

00:13:41.658 --> 00:13:57.416
<v Speaker 1>Somewhere in between 12 and 21, you start worrying about everyone else's opinion, your friends' opinions, other people's and, first and foremost, what size ego must you have to think that other people are thinking of you?

00:13:57.416 --> 00:13:58.558
<v Speaker 1>They aren't thinking of you.

00:13:58.558 --> 00:14:00.330
<v Speaker 1>They're worrying about what you're thinking of them, you know.

00:14:00.330 --> 00:14:01.933
<v Speaker 1>So get rid of the thought that other people are thinking of you.

00:14:01.933 --> 00:14:02.535
<v Speaker 1>They aren't thinking of you.

00:14:02.535 --> 00:14:03.879
<v Speaker 1>They're worrying about what you're thinking of them, you know.

00:14:03.879 --> 00:14:05.504
<v Speaker 1>So get rid of the thought that other people are thinking of you.

00:14:05.504 --> 00:14:10.775
<v Speaker 1>And and the sooner you can get over the need to impress others, the sooner you'll be successful.

00:14:10.775 --> 00:14:18.217
<v Speaker 1>If you try to impress others, 99.9% of the time it takes you away from success rather than towards success.

00:14:18.217 --> 00:14:23.726
<v Speaker 1>Wanting to look a certain way, carry a certain handbag, do all of those sorts of things.

00:14:23.726 --> 00:14:30.346
<v Speaker 1>Listen, I fell for all those tracks, buddy, if you find pose of me from when I was young.

00:14:30.346 --> 00:14:31.750
<v Speaker 1>I had all the rings.

00:14:31.750 --> 00:14:33.475
<v Speaker 1>I had the watches.

00:14:33.475 --> 00:14:34.940
<v Speaker 1>I still have all the watches.

00:14:34.940 --> 00:14:36.705
<v Speaker 1>I had the, all the cars.

00:14:36.705 --> 00:14:37.988
<v Speaker 1>I still had beautiful cars.

00:14:37.988 --> 00:14:49.644
<v Speaker 1>I love beautiful cars, you know I all the jets all the whole day, right, I fell for all of that hook line and sinker and uh, didn't make me any happier.

00:14:49.644 --> 00:14:53.214
<v Speaker 1>You know I'm not saying money can't buy you happiness.

00:14:53.214 --> 00:15:02.918
<v Speaker 1>Money buys you the freedom of time, the freedom of relationships, the freedom to do the things that you enjoy, which is what happiness is right.

00:15:02.918 --> 00:15:24.508
<v Speaker 1>So you definitely want to build wealth and build success so that and you wouldn't be on my podcast Big Success if you weren't looking for that but if that becomes the reason for that is to buy another handbag or buy another pair of shoes to impress someone else, then that's just dumb.

00:15:24.508 --> 00:15:33.634
<v Speaker 1>Now, that being said, my second eldest daughter uh, she will be on the new and she does collect handbags, but she invests in them.

00:15:33.634 --> 00:15:41.559
<v Speaker 1>She looks at the way they go up in price, which ones are going up in price, which ones are increasing in value and which ones are going up in price, which ones are increasing in value and which ones go down.

00:15:41.559 --> 00:15:51.693
<v Speaker 1>Another buddy of mine he collects shoes because he knows which ones are going up or which ones are going down that way and to invest in a shoe company, and now he's made those sorts of things.

00:15:51.693 --> 00:16:17.008
<v Speaker 1>But you're learning that skill as to where to invest, and I would ask her okay, instead of investing in handbags, which handbag company should we buy shares it, you know, and and looking at from that side of it so um, but even turn it around and say how can you, if you do want to have great things, how can you turn it into a business where you can have the great thing?

00:16:17.008 --> 00:16:18.292
<v Speaker 1>So I'll give you two examples.

00:16:18.874 --> 00:16:22.264
<v Speaker 1>Yep guy in australia many years ago loved rally cars.

00:16:22.264 --> 00:16:28.089
<v Speaker 1>Right, he came to me and said brad, you know, I want to build all this wealth so I can have, I can be rally car driving every day.

00:16:28.089 --> 00:16:29.371
<v Speaker 1>And I said, well, that seems dumb.

00:16:29.371 --> 00:16:30.796
<v Speaker 1>I mean, what do you mean?

00:16:30.796 --> 00:16:31.437
<v Speaker 1>It seems dumb.

00:16:31.437 --> 00:16:36.806
<v Speaker 1>I said why don't you just build a business that does rally car driving every day, where people pay you a lot of money?

00:16:36.806 --> 00:16:39.971
<v Speaker 1>You sit in the rally car next to you and you drive them around the place.

00:16:39.971 --> 00:16:41.674
<v Speaker 1>You're driving cars all day, every day.

00:16:41.674 --> 00:16:49.136
<v Speaker 1>You have to keep buying more rally cars because you got more customers coming in and you're building wealth and doing the thing you love every day of the week.

00:16:49.136 --> 00:16:50.607
<v Speaker 1>I need to look at that.

00:16:50.607 --> 00:16:53.994
<v Speaker 1>Well, yeah, so that's where you're there.

00:16:53.994 --> 00:16:57.707
<v Speaker 1>You know he built an amazing car business doing that.

00:16:57.988 --> 00:17:02.376
<v Speaker 1>Another friend of mine uh, he's famous author or business author.

00:17:02.376 --> 00:17:12.759
<v Speaker 1>He loves fishing, loves fishing, and he had a swimming pool business with final blasts, and so, you know, final blasts said, yeah, okay, tell me when you start your fishing boat business.

00:17:12.759 --> 00:17:22.973
<v Speaker 1>He now has a large fishing boat business and all he has to do he's applied all of his marketing knowledge to his fishing boat business, his website, everything is is his fishing boat business.

00:17:22.973 --> 00:17:25.961
<v Speaker 1>His website, everything is his fishing boat business, all his social media videos, his fishing boat business.

00:17:25.961 --> 00:17:26.806
<v Speaker 1>What does he get to do?

00:17:26.806 --> 00:17:27.788
<v Speaker 1>All day, every night?

00:17:27.788 --> 00:17:29.833
<v Speaker 1>Fish, which is what he loves.

00:17:30.094 --> 00:17:30.976
<v Speaker 1>You can do that.

00:17:30.976 --> 00:17:43.898
<v Speaker 1>You can build it into something, but that's where you got to be great at something, though, to be able to build it into a business, and usually what that is is either operations or marketing, or finance and admin.

00:17:43.898 --> 00:17:47.171
<v Speaker 1>You find that those three still sets are what's needed for a business.

00:17:47.171 --> 00:17:50.232
<v Speaker 1>You need someone in the company who's great at finance, admin.

00:17:50.232 --> 00:17:54.692
<v Speaker 1>You need someone who's great at operations the product, delivery of product.

00:17:54.692 --> 00:17:57.673
<v Speaker 1>You need someone who's great at marketing and sales.

00:17:59.390 --> 00:18:01.186
<v Speaker 2>So I found my thing what do I want to do?

00:18:01.186 --> 00:18:02.905
<v Speaker 2>Do I want to turn it into a business?

00:18:02.905 --> 00:18:05.291
<v Speaker 2>How do you then build a team?

00:18:05.291 --> 00:18:09.934
<v Speaker 2>So, for example, a lot of people I think, when they're starting out is they face a lot of like catch-22.

00:18:09.934 --> 00:18:15.999
<v Speaker 2>So, yeah, they employ their friends, they employ people they know they don't employ, say, experts in different roles.

00:18:15.999 --> 00:18:19.628
<v Speaker 2>But the reason I say catch-22 is because can't afford.

00:18:19.628 --> 00:18:23.478
<v Speaker 2>You are, you need money, you need a team to make money and you need money to build a team.

00:18:23.478 --> 00:18:26.031
<v Speaker 2>So where do you move the chess?

00:18:26.071 --> 00:18:26.272
<v Speaker 1>piece.

00:18:26.272 --> 00:18:29.153
<v Speaker 1>Let's go backwards a couple of steps on that.

00:18:29.153 --> 00:18:31.250
<v Speaker 1>So you've got your idea.

00:18:31.250 --> 00:18:32.012
<v Speaker 1>You want to do it.

00:18:32.012 --> 00:18:34.092
<v Speaker 1>First of all, put together a business plan.

00:18:34.092 --> 00:18:42.534
<v Speaker 1>Now, it's not about the actual document, even though it is about the document, because what you're looking to do is can I raise for this business?

00:18:42.534 --> 00:18:48.208
<v Speaker 1>And I'll be very blunt with you if you cannot raise capital for the business, don't do this.

00:18:48.208 --> 00:18:57.215
<v Speaker 1>If no one's willing to invest in you building that business, now I, if they say I'm not going to invest, say well, what?

00:18:57.215 --> 00:18:59.045
<v Speaker 1>What do I need to change so someone will invest?

00:18:59.045 --> 00:19:06.479
<v Speaker 1>What else could I do so that someone will invest to keep adding to your business plan, or changing or adapting or doing a business plan?

00:19:07.006 --> 00:19:17.109
<v Speaker 1>You know, unfortunately, somewhere along the lines, we heard these terms of hustle and grind and thought, yeah, I gotta hustle and grind to be successful.

00:19:17.109 --> 00:19:20.134
<v Speaker 1>Hustle and grind's the new stupid.

00:19:20.134 --> 00:19:22.098
<v Speaker 1>I hustle and grind.

00:19:22.098 --> 00:19:24.027
<v Speaker 1>I did that Today.

00:19:24.027 --> 00:19:27.415
<v Speaker 1>I would never suggest to someone to go and do the hustle and grind thing.

00:19:27.415 --> 00:19:31.154
<v Speaker 1>Yes, I want you to work hard, but you don't need to bootstrap this thing.

00:19:31.154 --> 00:19:32.727
<v Speaker 1>You don't need to do it with no money.

00:19:32.727 --> 00:19:39.910
<v Speaker 1>There is more capital available today from angel investors, venture capital funds and banks.

00:19:39.910 --> 00:19:44.951
<v Speaker 1>There's more capital available today than there ever has been for great ideas, for great people.

00:19:44.951 --> 00:19:54.910
<v Speaker 1>So look at writing a plan to raise capital and that means put a pitch deck together and people I don't know how to do a pitch deck Good, go and study how to do a pitch deck.

00:19:54.910 --> 00:20:06.689
<v Speaker 1>Go and look it up, go and learn it, study it, read about it, type thing, make one, show it to some people and have them tell you how bad it is on the first one and get better at it until you got one that raises capital, sort of thing.

00:20:06.689 --> 00:20:10.021
<v Speaker 1>Your database is the most important thing when you're young.

00:20:10.021 --> 00:20:13.233
<v Speaker 1>All the people you've met you get to meet, et cetera, et cetera.

00:20:13.233 --> 00:20:17.628
<v Speaker 1>So put yourself in situations where you're meeting people who've got money to invest.

00:20:17.628 --> 00:20:23.388
<v Speaker 1>Go to a conference or an event where, when you sit there, those people are looking to do things.

00:20:23.449 --> 00:20:25.093
<v Speaker 1>I remember one of my buddies.

00:20:25.093 --> 00:20:29.882
<v Speaker 1>He had a business idea, all that sort of stuff, and he said I don't know where I'm going to get capital.

00:20:29.882 --> 00:20:32.510
<v Speaker 1>I said, dude, where are there people that have capital?

00:20:32.510 --> 00:20:33.994
<v Speaker 1>He said I don't know.

00:20:33.994 --> 00:20:47.961
<v Speaker 1>I said look, if there's any conferences coming to town called capital investing or investing for family offices or investing for seniors with lots of money, or go and look at it, right, you say great, found something.

00:20:47.961 --> 00:20:49.826
<v Speaker 1>I say, good, go and attend 10 of ours.

00:20:50.548 --> 00:20:53.275
<v Speaker 1>Sit next to people when you ask, oh, what are you here for?

00:20:53.275 --> 00:20:55.709
<v Speaker 1>I'm looking to invest my money in this, this and this.

00:20:55.709 --> 00:20:57.252
<v Speaker 1>I'm looking to learn how to invest it.

00:20:57.252 --> 00:21:00.108
<v Speaker 1>What are you here for I'm looking to invest it.

00:21:00.108 --> 00:21:01.751
<v Speaker 1>And then they ask you what are you here for?

00:21:01.751 --> 00:21:05.892
<v Speaker 1>I'm looking to chat with investors because I've got a business idea that I want to find some great people.

00:21:05.892 --> 00:21:10.932
<v Speaker 1>If you know anyone, or there's anyone here you think might be interested in sitting with me for lunch to do that.

00:21:10.932 --> 00:21:11.394
<v Speaker 1>And guess what?

00:21:11.394 --> 00:21:14.228
<v Speaker 1>They're both going to say oh, I'll be having a look at it for you.

00:21:14.228 --> 00:21:19.836
<v Speaker 1>You know, it's not that hard to do that, so don't think you've got a bootstrap.

00:21:19.836 --> 00:21:24.932
<v Speaker 1>Okay, you can raise capital, but you have to read a few books on raising capital.

00:21:24.932 --> 00:21:33.448
<v Speaker 1>You have to read a few books on business planning or podcasts or whatever methodology you invest with, and then go put it in front of some people with money.

00:21:34.430 --> 00:21:37.718
<v Speaker 1>Now, coming back to your question about how do you find a team.

00:21:37.718 --> 00:21:47.592
<v Speaker 1>Well, the dumbest mistake is to recruit family members unless or best friends unless there is a core skill set.

00:21:47.592 --> 00:21:59.968
<v Speaker 1>So you look at the three core skills Someone's got to be great at marketing and sales, someone's got to be great at the operations of business and someone's got to be great at running, doing the finance, the ad beam, all that sort of stuff.

00:21:59.968 --> 00:22:12.067
<v Speaker 1>So you've got two best buddies and one of them's amazing at marketing and you're really good at the product, and another one of your friends is an accountant who's run offices for different people.

00:22:12.067 --> 00:22:14.434
<v Speaker 1>Then, great, the three of you can come together and build a business.

00:22:14.434 --> 00:22:15.851
<v Speaker 1>Otherwise, pay those people.

00:22:15.851 --> 00:22:22.627
<v Speaker 1>Don't give up equity to someone who doesn't be there from the beginning and could end the work with you.

00:22:25.227 --> 00:22:30.234
<v Speaker 2>What advice would you give to a teenager that's hungry, passionate.

00:22:30.234 --> 00:22:33.059
<v Speaker 2>They haven't found their thing yet.

00:22:33.059 --> 00:22:35.210
<v Speaker 2>What would you say to that person?

00:22:35.210 --> 00:22:36.012
<v Speaker 2>Keep getting out there.

00:22:36.313 --> 00:22:40.229
<v Speaker 1>Get a job but work in small businesses rather than big businesses.

00:22:40.229 --> 00:22:47.079
<v Speaker 1>I think a lot of us, when we're young, want to work in big name companies and say I work for whatever.

00:22:47.079 --> 00:23:08.916
<v Speaker 1>Right, if you work for a small business, your chances of advancement are much faster, much greater that you working with job with uh, max and james, that the room for you to grow is so massive because you're in a small team and you know it's not.

00:23:08.916 --> 00:23:12.970
<v Speaker 1>They're not hiring a another assistant social media person or another.

00:23:12.970 --> 00:23:16.080
<v Speaker 1>It say, okay, we need a manager of social media.

00:23:16.080 --> 00:23:17.005
<v Speaker 1>Next, you know what I mean.

00:23:17.005 --> 00:23:22.910
<v Speaker 1>That's like you get promoted to manage a pretty damn quick when you're in a small business and you get to do that.

00:23:22.910 --> 00:23:25.352
<v Speaker 1>But try a lot of different things.

00:23:25.352 --> 00:23:27.671
<v Speaker 1>I was lucky in college.

00:23:27.671 --> 00:23:33.528
<v Speaker 1>I just had all different jobs during college and I started to work out what I didn't like and what I did like.

00:23:33.528 --> 00:23:35.788
<v Speaker 1>You don't have to.

00:23:37.005 --> 00:23:40.846
<v Speaker 1>The dumbest thing that's ever asked of a young person is what do you want to do with your life?

00:23:40.846 --> 00:23:42.429
<v Speaker 1>You know what I'm doing my life.

00:23:42.429 --> 00:23:47.660
<v Speaker 1>Oh, I eat, drink, have fun, play, play golf, hang with my friends and have a good old time.

00:23:47.660 --> 00:23:49.190
<v Speaker 1>No, it's serious.

00:23:49.190 --> 00:23:50.875
<v Speaker 1>What do you want to do with your life.

00:23:50.875 --> 00:23:53.326
<v Speaker 1>Uh, you don't have to play.

00:23:53.326 --> 00:23:54.567
<v Speaker 1>What you want to do with your life, you have to play.

00:23:54.567 --> 00:23:55.487
<v Speaker 1>What do you want to do first?

00:23:55.487 --> 00:23:57.848
<v Speaker 1>What do I want to try first?

00:23:57.848 --> 00:24:00.330
<v Speaker 1>Okay, well, I enjoy hospitality.

00:24:00.330 --> 00:24:02.092
<v Speaker 1>Excellent, let's get that shot first.

00:24:02.092 --> 00:24:03.673
<v Speaker 1>You know what I mean?

00:24:03.673 --> 00:24:06.375
<v Speaker 1>Don't think you have to work out your whole life, dang.

00:24:06.375 --> 00:24:08.195
<v Speaker 1>If you're, what are you now?

00:24:08.195 --> 00:24:11.479
<v Speaker 1>You're not even 20, so you're going to live to 140.

00:24:11.479 --> 00:24:17.502
<v Speaker 1>All right, so start investing in real estate now and you're going to 100-year play in your real estate lifetime.

00:24:17.502 --> 00:24:22.385
<v Speaker 1>That's the fun thing.

00:24:22.385 --> 00:24:23.227
<v Speaker 1>But, um, yeah, just work out.

00:24:23.247 --> 00:24:28.096
<v Speaker 2>What do you want to do first, if you if you was so a lot of people, I think delay.

00:24:28.096 --> 00:24:29.719
<v Speaker 2>How do you delay gratification?

00:24:29.719 --> 00:24:41.897
<v Speaker 2>Uh, but you mentioned earlier how about working hard, working smart and then stuff like that, where the where's the line between the delayed gratification, but also working small?

00:24:45.967 --> 00:24:50.233
<v Speaker 1>So let's first of all look at money right, understanding what delayed gratification is.

00:24:50.233 --> 00:24:54.797
<v Speaker 1>Delayed gratification is investing and living off of the return of investments.

00:24:54.797 --> 00:25:04.750
<v Speaker 1>Most people think that, okay, if I make this money, I get to spend it, and as they increase their income, they increase their livelihood, their expenses.

00:25:04.750 --> 00:25:12.352
<v Speaker 1>If you can't increase your income but not increase your expenses, then you could put that money into investing.

00:25:12.352 --> 00:25:16.406
<v Speaker 1>And 10 years see, it takes 10 years to get good at money.

00:25:16.406 --> 00:25:19.310
<v Speaker 1>All right now, why does it take 10 years?

00:25:19.310 --> 00:25:24.519
<v Speaker 1>Two reasons One, to learn it and two, because you've got to participate in one economic cycle.

00:25:24.519 --> 00:25:28.314
<v Speaker 1>So a boop and bust cycle is a seven to 10 year cycle.

00:25:28.314 --> 00:25:30.191
<v Speaker 1>Always has been, always will be.

00:25:30.191 --> 00:25:33.535
<v Speaker 1>It might get faster, but really is it going to get faster?

00:25:33.535 --> 00:25:49.230
<v Speaker 1>We have to go through the higher interest rates, which then change things, and then it starts to drop and then people buy more real estate and then real estate booms and then, once the value booms, then the rents start booming and then we have to go through another period of down because the ranks are going up.

00:25:49.230 --> 00:25:50.528
<v Speaker 1>And you know what I mean.

00:25:50.528 --> 00:26:04.845
<v Speaker 1>Like that, my book, my training program, 30x Wealth I go into that a lot of detail, right, but what we find is that any age it not young people they try and live hand to mouth.

00:26:04.845 --> 00:26:17.936
<v Speaker 1>They don't put a percentage of their income away and and just even have a rainy day fund, like, if you don't have three months of expenses sitting in an account somewhere, not touch me.

00:26:17.936 --> 00:26:19.007
<v Speaker 1>Like, what are you saving for?

00:26:19.007 --> 00:26:19.749
<v Speaker 1>I'm not saving.

00:26:19.749 --> 00:26:24.978
<v Speaker 1>I'm saving for stupid shit, because you know what's going to happen in your life Stupid shit.

00:26:24.978 --> 00:26:28.229
<v Speaker 1>You're going to have a car accident and then you're going to have something else.

00:26:28.229 --> 00:26:30.836
<v Speaker 1>And all the stupid shit comes in one go.

00:26:30.836 --> 00:26:33.309
<v Speaker 1>Well, you've got three months money sitting there.

00:26:33.309 --> 00:26:34.634
<v Speaker 1>You can take care of it.

00:26:34.634 --> 00:26:46.388
<v Speaker 1>It doesn't kill you off financially Because what happens is, if you don't have the three months sitting there, you start using credit cards and you get into a negative cycle.

00:26:46.388 --> 00:26:47.371
<v Speaker 1>The interest kills you, everything fills you.

00:26:47.371 --> 00:26:49.757
<v Speaker 1>You just can't get out of that without a lump sum sort of thing.

00:26:49.757 --> 00:26:53.711
<v Speaker 1>So understand that the money you make is yours to invest, not yours to spend.

00:26:53.711 --> 00:26:57.106
<v Speaker 1>The returns off your investment are yours to have fun with.

00:26:57.106 --> 00:27:02.461
<v Speaker 1>Buy toys from, buy investments with what you make.

00:27:03.523 --> 00:27:10.519
<v Speaker 1>But when I was young, I worked from nine to five during the day to pay the bills.

00:27:10.519 --> 00:27:16.875
<v Speaker 1>I worked from five to nine, morning and evening to build wealth.

00:27:16.875 --> 00:27:25.790
<v Speaker 1>Now, one of those periods of five to nine was about working on myself learning, studying, exercising, meditating all of that the morning.

00:27:25.790 --> 00:27:28.094
<v Speaker 1>Five to nine was work on me.

00:27:28.094 --> 00:27:31.497
<v Speaker 1>Worked all day, paid the bills.

00:27:31.497 --> 00:27:39.703
<v Speaker 1>Five to nine at night worked on wealth, wrote books, did real estate, investing, did all the things that would make me money forever.

00:27:40.345 --> 00:27:44.596
<v Speaker 1>Because, let me teach you the one key principle to wealth it's called leverage.

00:27:44.596 --> 00:27:49.135
<v Speaker 1>Leverage, by my definition, is do the work once, get paid forever.

00:27:49.135 --> 00:28:04.576
<v Speaker 1>If you do work once and get paid once, you will remain poor for the rest of your life, no matter how much money you make from that hour, because when you start that hour to get another paycheck, you got to go and do another hour.

00:28:04.576 --> 00:28:09.770
<v Speaker 1>You start that hour to get another paycheck, you got to go and do another hour.

00:28:09.770 --> 00:28:12.037
<v Speaker 1>Building wealth is about being able to live without working.

00:28:12.037 --> 00:28:14.705
<v Speaker 1>It's not about having an asset base, although that's part of it.

00:28:14.705 --> 00:28:17.011
<v Speaker 1>It's not about having a cash flow, although that's part of it.

00:28:17.011 --> 00:28:19.786
<v Speaker 1>Wealth is about time freedom.

00:28:19.786 --> 00:28:23.534
<v Speaker 1>Can I live without work?

00:28:23.534 --> 00:28:25.818
<v Speaker 1>That's what it's all about.

00:28:25.818 --> 00:28:32.776
<v Speaker 1>That doesn't mean you don't work, because I tried that and it's boring as heck, you know.

00:28:32.776 --> 00:28:45.413
<v Speaker 1>You see what happens with young people musicians, movie stars when they get too much money and too much time, they start on too much alcohol, too much drugs and it blows them up sort of thing.

00:28:45.413 --> 00:28:50.393
<v Speaker 1>That leverage is do the work once, get paid forever.

00:28:50.473 --> 00:28:53.939
<v Speaker 1>So me writing a book, right, I write it one time.

00:28:53.939 --> 00:28:56.997
<v Speaker 1>Get paid for buying a piece of real estate I buy it one time.

00:28:56.997 --> 00:29:00.067
<v Speaker 1>I get capital gains and rental income forever.

00:29:00.067 --> 00:29:02.873
<v Speaker 1>It's all about one time, for it is I.

00:29:02.873 --> 00:29:03.755
<v Speaker 1>I build a business.

00:29:03.755 --> 00:29:06.059
<v Speaker 1>It works and makes you money forever.

00:29:06.059 --> 00:29:07.810
<v Speaker 1>I did the work one time.

00:29:07.810 --> 00:29:09.631
<v Speaker 1>Now here's the problem with that.

00:29:09.631 --> 00:29:12.531
<v Speaker 1>Guess what the hourly rate is for write a book?

00:29:12.531 --> 00:29:14.176
<v Speaker 1>Zero.

00:29:14.176 --> 00:29:17.252
<v Speaker 1>I only pay to dine to write the book.

00:29:17.252 --> 00:29:29.450
<v Speaker 1>But every single month now, for the rest of my life and for 75 years after I'm dead, I keep getting royalty checks from my publishers for that work that I did 20, 30 years ago.

00:29:29.450 --> 00:29:31.354
<v Speaker 1>That's worth.

00:29:32.154 --> 00:29:33.478
<v Speaker 4>Well, hey there and thanks for listening.

00:29:33.478 --> 00:29:38.616
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00:29:38.616 --> 00:29:45.914
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00:29:45.914 --> 00:29:48.012
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<v Speaker 4>It only takes a second.

00:29:49.191 --> 00:29:50.691
<v Speaker 4>It makes a huge difference.

00:29:50.691 --> 00:29:56.734
<v Speaker 4>If you support us, we're going to support your success and help you achieve big success together.

00:29:57.665 --> 00:30:00.575
<v Speaker 2>What's one difficult moment that you've never really spoke about.

00:30:00.575 --> 00:30:02.291
<v Speaker 2>That happened in your arty career.

00:30:02.291 --> 00:30:03.849
<v Speaker 2>How did you get over?

00:30:03.869 --> 00:30:05.217
<v Speaker 1>it.

00:30:05.217 --> 00:30:07.834
<v Speaker 1>I had spoken about it, but not a lot.

00:30:07.834 --> 00:30:23.015
<v Speaker 1>When people steal from you, and specifically people that you bought in as business partners, steal your money, and I do blame them, but I also blame myself.

00:30:23.015 --> 00:30:25.134
<v Speaker 1>I was too stupid to check the money.

00:30:25.134 --> 00:30:26.545
<v Speaker 1>I was too stupid to check the money.

00:30:26.545 --> 00:30:30.194
<v Speaker 1>I was too lazy to check the money.

00:30:30.194 --> 00:30:33.513
<v Speaker 1>I believe that they were taking care of the money and they were.

00:30:33.513 --> 00:30:40.578
<v Speaker 1>They were just taking care of me in Fiji for themselves, not in the business account for us paying the bills.

00:30:40.578 --> 00:30:47.036
<v Speaker 1>When one of my suppliers called me and said dude, we've not been paid for nine days.

00:30:47.036 --> 00:30:49.768
<v Speaker 1>Can you get this fixed?

00:30:49.768 --> 00:30:56.249
<v Speaker 1>And I went and started looking and found that all the money was gone, and so were they by the time I found it.

00:30:57.431 --> 00:31:00.837
<v Speaker 1>Um, you know, I had to take ownership and accountability.

00:31:00.837 --> 00:31:06.425
<v Speaker 1>I had to move back in with my parents, couldn, couldn't afford to live anywhere else, couldn't afford.

00:31:06.425 --> 00:31:14.311
<v Speaker 1>And I remember my dad sitting there and saying to me when he came into my room I was back in my childhood bedroom.

00:31:14.311 --> 00:31:16.058
<v Speaker 1>Dude, it was embarrassing as hell.

00:31:16.058 --> 00:31:21.700
<v Speaker 1>But it wasn't really embarrassing because my dad said to me he said what's going on?

00:31:21.700 --> 00:31:26.415
<v Speaker 1>I told him the story and he said well, you've made a million bucks already in your life, right?

00:31:26.415 --> 00:31:28.512
<v Speaker 1>So yeah, so do it again.

00:31:28.512 --> 00:31:35.269
<v Speaker 1>And when he said it that way, it was just like oh, oh yeah.

00:31:36.512 --> 00:31:37.375
<v Speaker 2>How old were you this time?

00:31:37.375 --> 00:31:38.964
<v Speaker 2>20 or 21.

00:31:39.346 --> 00:31:55.459
<v Speaker 1>I felt like a complete fraud, because I'd been out there teaching business and teaching people about success as a young man and all of a sudden, I deep in debt and I got creditors call me.

00:31:55.459 --> 00:31:55.919
<v Speaker 1>Well, I did.

00:31:55.919 --> 00:31:59.077
<v Speaker 1>He said my dad made me make a list what needs to be done.

00:31:59.077 --> 00:31:59.640
<v Speaker 1>I made a list.

00:31:59.640 --> 00:32:00.303
<v Speaker 1>He's a good start.

00:32:00.303 --> 00:32:01.186
<v Speaker 1>Number one get out.

00:32:01.828 --> 00:32:03.856
<v Speaker 1>So I called all the people we owed money to.

00:32:03.856 --> 00:32:06.045
<v Speaker 1>I said listen, this is what happened.

00:32:06.045 --> 00:32:11.738
<v Speaker 1>You can try and bankrupt me or you can let me pay off, and if you let me go, I will pay it to you.

00:32:11.738 --> 00:32:14.432
<v Speaker 1>I'm not sure how or when, but I will get you the money.

00:32:14.432 --> 00:32:17.020
<v Speaker 1>And I paid back every single one of them.

00:32:17.020 --> 00:32:25.538
<v Speaker 1>I called some of my best clients and I just said to them hey, you guys have got a good business right now.

00:32:25.538 --> 00:32:32.393
<v Speaker 1>How about you prepay me for the next year's worth of work and I get up to you at a slight discount?

00:32:32.393 --> 00:32:33.789
<v Speaker 1>And they said what's going on?

00:32:33.789 --> 00:32:36.372
<v Speaker 1>I told them what happened and they said we'll pay you.

00:32:36.372 --> 00:32:38.532
<v Speaker 1>We're not into discount, but we're going to pay you.

00:32:38.532 --> 00:32:40.305
<v Speaker 1>So I got myself out of it.

00:32:40.305 --> 00:32:47.537
<v Speaker 1>Six months later I was out of that and backed on again, stronger than ever, but now I have financial controls in place.

00:32:47.537 --> 00:32:57.876
<v Speaker 1>So yeah, when I'm an accountant by training, I was like, ah dang, how did you go to college and learn that and then mess that side of it up?

00:32:58.744 --> 00:33:02.236
<v Speaker 2>What's the key fundamentals that young people should live by older?

00:33:02.236 --> 00:33:04.894
<v Speaker 2>They find the heart themselves, but what advice would you give to them?

00:33:09.505 --> 00:33:12.030
<v Speaker 1>I think you find out who you are yourself.

00:33:12.030 --> 00:33:12.972
<v Speaker 1>You know that's.

00:33:12.972 --> 00:33:14.596
<v Speaker 1>That's the journey.

00:33:14.596 --> 00:33:15.538
<v Speaker 1>You don't find yourself.

00:33:15.538 --> 00:33:18.042
<v Speaker 1>You define yourself like you define who do I want?

00:33:18.042 --> 00:33:18.083
<v Speaker 1>P?

00:33:18.083 --> 00:33:18.243
<v Speaker 1>Um?

00:33:18.263 --> 00:33:20.328
<v Speaker 1>When I was, you know, 19.

00:33:20.328 --> 00:33:29.773
<v Speaker 1>I actually I was 16 when I first met jim ronald e james ron and I was in brisbane city town hall, like I think it was like 1200 people at a seminar.

00:33:29.773 --> 00:33:32.307
<v Speaker 1>But I said I met him, you know, like it.

00:33:32.307 --> 00:33:42.108
<v Speaker 1>I ran down here and I was gonna sign my notes, but one of the things that it came to me that he made us do an activity.

00:33:42.108 --> 00:33:43.332
<v Speaker 1>I didn't do it till until I was 19.

00:33:43.372 --> 00:33:46.178
<v Speaker 1>He said I want you to write your obituary.

00:33:46.178 --> 00:33:50.055
<v Speaker 1>I want you to write what is your life meant?

00:33:50.055 --> 00:33:52.814
<v Speaker 1>What did you achieve in your life?

00:33:52.814 --> 00:33:56.415
<v Speaker 1>What sort of person do you want to be?

00:33:56.415 --> 00:34:01.827
<v Speaker 1>And so I teach the formula of be times do equals have who you are times.

00:34:01.827 --> 00:34:03.473
<v Speaker 1>What you do determines what you have.

00:34:03.473 --> 00:34:07.534
<v Speaker 1>So once you know what you want to have, you can backwards and go what do I need to do?

00:34:07.534 --> 00:34:10.286
<v Speaker 1>And then you work backwards and work who do I need to become?

00:34:10.286 --> 00:34:12.451
<v Speaker 1>What are my beliefs and behaviors?

00:34:12.451 --> 00:34:14.135
<v Speaker 1>All the b words type thing.

00:34:14.135 --> 00:34:27.237
<v Speaker 1>So I sat down and just decided who I wanted to be, and it was interesting that, you know, at 16, when I met mr roan, I said I want to retire at 25, and people would tell me how that's not possible.

00:34:27.385 --> 00:34:29.512
<v Speaker 1>One person in particular would tell me it can't happen.

00:34:29.512 --> 00:34:30.175
<v Speaker 1>Why would it happen?

00:34:30.175 --> 00:34:31.409
<v Speaker 1>It can't happen for you.

00:34:31.409 --> 00:34:43.692
<v Speaker 1>And I do remember every time I bought a new car I'd go to his house and hop the horn and wave and just remind him that it could happen, but technically he was correct, harvey.

00:34:43.692 --> 00:34:49.626
<v Speaker 1>What he didn't know, though, was that I was willing to grow.

00:34:49.626 --> 00:34:53.333
<v Speaker 1>The 16-year-old version of me could not achieve that goal.

00:34:53.333 --> 00:34:57.360
<v Speaker 1>If I could have achieved the goal, I wouldn't have to have set it as a goal, because I would have done it.

00:34:57.360 --> 00:35:06.139
<v Speaker 1>When you set a goal, you're setting a goal to make you grow, to learn.

00:35:06.139 --> 00:35:08.913
<v Speaker 1>You have to grow into your achievements.

00:35:08.913 --> 00:35:20.773
<v Speaker 1>You can't achieve it as the person you are, but if you're willing to learn, read, grow, study, become that person, then you can have whatever it is you want in your life.

00:35:22.425 --> 00:35:26.474
<v Speaker 2>Yeah, brad, I would believe everyone can learn something from everyone.

00:35:26.474 --> 00:35:32.023
<v Speaker 2>I think everyone's got a story people who have failed, failed for a reason, people, uh, who have success.

00:35:32.023 --> 00:35:33.005
<v Speaker 2>I'm successful for a reason.

00:35:33.005 --> 00:35:36.813
<v Speaker 2>If you could ask me any question, what would you like to ask?

00:35:38.976 --> 00:35:52.436
<v Speaker 1>what do you think is the difference between your motivation and a young person who's the same age as you, same background as you, but just doesn't have the desire to do what you're going for?

00:35:53.405 --> 00:36:10.992
<v Speaker 2>I think the reason why I'm so motivated is because when I was younger this is one thing that sticks out to me is I reached a deep growth of any sort of wealth or much money, but my dad would always take me down the road to the nice hotel, to where the nice cars are parked.

00:36:10.992 --> 00:36:13.851
<v Speaker 2>So he would always say to me, son, if you want a car, this is what you can have.

00:36:13.851 --> 00:36:16.693
<v Speaker 2>So over my life I started to see my dad work hard.

00:36:16.693 --> 00:36:23.753
<v Speaker 2>He would build up and take me to Spain in a freestyle hotel which, again, is still privileged to some people, oh yeah.

00:36:23.753 --> 00:36:29.784
<v Speaker 2>But he would take me down the road to the Firestar Hotel and say if you work hard, this is what you're gonna have.

00:36:29.784 --> 00:36:36.471
<v Speaker 2>And then from that point I always thought that gave me a bit of hunger to achieve, to be able to stay here one day.

00:36:36.471 --> 00:36:37.809
<v Speaker 2>And I still to this day.

00:36:38.371 --> 00:36:43.213
<v Speaker 2>Wherever I am, I'll find a nice hotel and I'll sit in the lobby and I'll have a drink.

00:36:43.213 --> 00:36:44.614
<v Speaker 2>Love it.

00:36:44.614 --> 00:36:45.717
<v Speaker 2>Great stuff.

00:36:45.717 --> 00:36:46.518
<v Speaker 2>There you are.

00:36:46.518 --> 00:36:48.833
<v Speaker 2>Thank you so much, brad, really appreciate it.

00:36:51.086 --> 00:36:56.735
<v Speaker 3>You've been listening to the Big Success Podcast with the number one business coach in the world, Brad Sugars.

00:36:56.735 --> 00:37:06.273
<v Speaker 3>To learn more about how to achieve business and personal success, as well as how to level up or listen to past episodes, visit wwwbradsugarscom.