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The Tai Lopez Show

How To Start Your $100 Million Dollar Business

The Tai Lopez Show

Tai Lopez

Business

4.86.9K Ratings

🗓️ 29 September 2018

⏱️ 46 minutes

🧾️ Download transcript

Summary

Marketing is storytelling. And there is no greater venue for storytelling than the Internet. Today, the opportunity to market your business is unprecedented with an online presence. With no barrier to entry on social platforms, you can launch your business or brand to the top.Learn more about your ad choices. Visit megaphone.fm/adchoices

See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

These companies are going to go bankrupt, man, but mark my words.

0:03.4

Huge companies are going to disappear.

0:05.5

And I hope they're going to be replaced by people like you.

0:13.8

I'm going to give you a one, two, three formula here.

0:17.7

So the first formula is around product and product selection.

0:26.0

Remember this. You can't polish a turd. A lot of people's business ideas are turds.

0:37.0

They're crap. And people go, Ty, can you help me grow this business?

0:40.8

And I'm like, no, I can't because your product selection was wrong.

0:44.8

So some of the things that you guys are posting here, I don't think have potential.

0:50.6

But other ones do. And it's okay if you come up with an idea, that's like not good.

0:57.6

Who cares? Then you just come up with another one.

1:00.3

So I would say the best one I think I saw,

1:05.1

someone said a blow up doll. I heard those are big in Japan. These blow up

1:09.2

sex dolls, but that's not a business I'm going to get in. A little bit limited of a market,

1:15.2

although maybe it's not. I don't know. Carpet cleaner. So here's what I'm looking for in

1:21.6

product selection. You don't want a turd. The things that I'm looking for is potential to scale

1:27.7

and grow. So I want something that if I pick the right idea, there's not only like 30 people in

1:34.4

the world who want it. I want stuff that if I get the right idea, there's a lot of potential

1:40.5

customers because you got to understand this. At best, you're going to get 1% of the market.

1:47.0

I mean, people always go, oh, Ty, I'm going to get 10% of the market. No, you're not.

1:51.5

Even McDonald's hardly has 10% of the entire fast food market. And that's a company has been around

1:59.1

for 70 years and spent billions of dollars in advertising. So if you go into a business,

...

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