The Biggest Barrier to Business Success
Wealthy Way
Ryan Pineda
4.9 • 2.2K Ratings
🗓️ 14 November 2024
⏱️ 13 minutes
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Summary
Starting a business is just the beginning; avoiding this common mistake is what keeps it going!
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generated over 1 billion views online. Starting as a minor league baseball player making less than $2,000 a month, Ryan is now worth over $100 million. He shares his experiences in building wealth and believes that anyone can change their life with real estate investing.
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Transcript
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| 0:00.0 | Let's talk about the secret to scaling your business in 2024. |
| 0:03.9 | No matter what the industry has been, we've been able to scale it. |
| 0:08.5 | It doesn't matter if it's media, if it's real estate, if it's buying businesses, if it's |
| 0:13.6 | education, it doesn't matter. |
| 0:16.0 | They all follow the same process that I'm about to share with you guys. |
| 0:19.5 | The formula is strategy, time skill, |
| 0:24.5 | times scale equals your production or your output. Okay? So here are some different examples of |
| 0:31.5 | businesses in this formula. Let's talk about the solopreneur. How many of you guys would say |
| 0:36.0 | you're solopreneurs right now? |
| 0:43.3 | Okay, about half the room. So that means you are on your own trying to start your own business. |
| 0:48.8 | Okay. How many of you right now are solopreneurs? It's a side hustle. You've got a full-time job. |
| 0:57.7 | You're trying to start this business side hustle. Not many. So the rest of you are all full time in your business. Okay? This is what your business looks like probably. Okay? If you're a beginner and you're making less than $100,000 |
| 1:04.2 | per year, this is probably where you're at. On a one to 10 rating, your strategy is probably a one, your skill level is probably a |
| 1:14.2 | one, and your scale is probably a one. So let me explain what strategy, skill, and scale mean. |
| 1:20.5 | Strategy is the industry that you are in, first and foremost, okay? So some of you guys, I mean, a lot of you are in real |
| 1:28.2 | estate. Real estate's a great industry, okay? There's a lot of upside in real estate. You can |
| 1:32.3 | become a millionaire, you know, you can make money forever. Real estate ain't going anywhere, right? |
| 1:38.0 | There's other industries that have much lower market caps. Okay? For example, when I was flipping |
| 1:43.9 | couches and doing all these little weird side hustles, the market caps. For example, when I was flipping couches and doing all these little weird |
| 1:45.7 | side hustles, the market caps low. You can't really make that much money doing it. You know, |
| 1:51.3 | you'll cap out. Then there's other industries where the richest people in the world are made, |
| 1:56.3 | right? Things like tech, things like, you know, franchising, you know, Louis Vuitton, those kinds of |
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