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The Playbook With David Meltzer

BYOQ Q&A | Road to Revenue #118

The Playbook With David Meltzer

David Meltzer, Entrepreneur.com

Entrepreneurship, Business, Careers

4.61.9K Ratings

🗓️ 27 June 2022

⏱️ 11 minutes

🧾️ Download transcript

Summary

For today's episode, I took some of my favorite questions from my #BYOQ Live Q&A session I hosted on during my weekly free training. I try to host one of these at least once a month, so if you want to come ask me some questions, just email me [email protected] or sign up for my free weekly training by clicking the link below. Tweet me your takeaway from today’s episode @davidmeltzer Email Me! [email protected] Sign up for my Free Weekly Training https://free.dmeltzer.com/friday-training-1 Text Me! (949) 298-2905 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

this is the flavor. I'm going to start with a really easy question online here and it says

0:08.7

David what is dummy tax? I think it's the basis of mentorship as dummy taxes the fastest way

0:16.8

to get to where you want to be is find someone that's already there and ask them for directions

0:21.5

because they've already paid the dummy tax. Do you know how much easier it is to build the second

0:28.4

nice stand you know you buy two nice stands and the first one takes about four to ten times

0:33.3

as much as amount of time as the second one and the second one looks so much better

0:39.9

that's the dummy tax right and you don't want to have to pay the dummy tax so many people

0:45.2

pay the dummy tax and I want everyone to know that the key to after you know what you want is

0:52.0

to find out who you can help with what you want and who can help you and so don't pay the dummy

0:57.2

tax. I've paid more dummy tax than most people and it allows me to go ahead and save that

1:03.3

expense and give that to other people by giving them directions on where we want to be.

1:09.2

All right the questions are loading up online Jake you got someone here that has a question

1:13.4

for us on Clubhouse. Let's actually start with a question on Instagram Dave that someone

1:19.3

named Mitchell asked you the question is what's the 520 rule can you go into detail on the 520 rule?

1:24.9

Sure so you know understanding how to be efficient effective and statistically successful with

1:32.1

your time is managing your own expectations of time and it was told to me by my mentor Bob

1:38.7

Proctor who passed away he said you know Dave after about five minutes on every phone call

1:44.1

you're just visiting and after 20 minutes on every meeting you're probably just visiting so

1:52.1

you're visiting time as more value than the activity you get paid for you probably want to visit

1:59.1

with the people more relative with you or to you and people you don't know or the people you

2:04.9

barely know and so I created a 520 rule that said look I'll give anyone five minutes I always give

2:11.7

anyone five minutes and it pushes me to get to the point and so I'll give five minutes to anyone

...

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