4.7 β’ 2K Ratings
ποΈ 1 January 2021
β±οΈ 54 minutes
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0:00.0 | If you had to teach one class entrepreneur, what class would that be? |
0:03.5 | Well, I think I'd go actually back into the high schools and I teach the most basic |
0:10.2 | accounting and finance course and talk about the difference between a job and creating wealth. |
0:16.6 | What are the differences? I think for most elites for me, when I was growing up, I didn't |
0:21.9 | appreciate that wealth could be created. I thought the mission was to get through high school and |
0:27.8 | go to university, get a job, earn a salary and try to improve that salary over time and never |
0:34.8 | understood the difference between what is commonly talked about in school, which is that path versus |
0:40.9 | being self-employed and creating wealth or even generational wealth for yourself and your family. |
0:46.4 | And I think there's a huge difference between the two and I really didn't become aware of that |
0:50.6 | until I was about 35. Is there like a light bulb moment when that happened? |
0:55.2 | Yeah, I'd done the former program decently well during the Navy when I was 18 and gone, got an |
1:04.2 | engineering degree and served a dozen years in the Navy and then started a small business when |
1:10.8 | I left the Navy and it wasn't until five years into that business that I realized I created a |
1:16.4 | decent company, but a kind of a crappy job. And in fact, I went to a program at that time called |
1:21.5 | Perthing of Giants. It was a Vern Harnesh Inc. Magazine, Entrepreneur, you know, YEO program and |
1:28.9 | they talked about this very thing and it was epiphany for me at house older than many of the guys |
1:34.2 | in the room and it suddenly dawned on me that the guys who had made a lot of money in their lives |
1:39.8 | weren't doing it by earning a wage they had created wealth in their organizations and I went back to |
1:45.2 | my company ultimately shut it down. This is a very simple task. We have to blast me if I go |
1:54.2 | public again. I say this. Build a great company that has high competitive advantages, raise money |
2:02.1 | when you can recognize you're going to get to looted a little bit and hopefully into the day |
2:06.9 | still on a piece of the company. Probably another lesson from an entrepreneurial perspective which is |
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