The Biggest Reason Most Businesses Fail
Valuetainment
Valuetainment Episodes
4.8 • 1.7K Ratings
🗓️ 3 October 2022
⏱️ 16 minutes
🧾️ Download transcript
Summary
In this video, Patrick Bet-David reveals the biggest reason why most businesses fail, and what you can do to prevent it. Get the limited edition hats here: https://vtmerch.com/collections/future-looks-bright-signature-collection
Download the free PDF from Valuetainment here: https://valuetainment.com/how-to-stop-wasting-money/
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20 Rules of A Great Founder: https://youtu.be/8ekapSLmjFM
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Transcript
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| 0:00.0 | Listen, this is not a motivational video, but this is probably the most important video |
| 0:03.1 | you can watch during the time like this while the market tanked the way that it has |
| 0:06.3 | and everybody else was talking about, you know, the dreams, the lambs, the fruars, |
| 0:09.3 | the watches, the houses. This is the message you need to hear. I can show you my house, |
| 0:13.8 | I can show you my savings, I can show you all that stuff, but I'm telling you, my life changed |
| 0:18.2 | when I 27, 28 years old at a quarter million dollars in the bank and I was driving a Ford focus |
| 0:24.3 | and everybody thought I was crazy and I want to share this mindset with you. |
| 0:28.3 | Odds are, you're going to click off this video because you want to go get entertained, |
| 0:32.0 | but those few of you that watch this, when 10 years from now the next market crash comes, |
| 0:36.8 | you're going to sit there and say, thank God I paid attention to this video |
| 0:40.0 | about how Pat had a Ford Focus at 28 years old. |
| 0:51.3 | So stick around to Leverian to get the PDF of today's notes, but let me get right into it on |
| 0:54.8 | why today's message is very important. I'm 26, 27 years old. |
| 0:58.4 | When I first started making money at 21, 22, I started buying nice cars, I'd go to Vegas, |
| 1:03.6 | all this other stuff and in all of a sudden I lost everything. I'm 49,000 dollars in debt. |
| 1:08.6 | I'm about to go back into the military. You've heard the story before. |
| 1:11.7 | Then I get into insurance. I meet a man that all he talked about is Pat, just trust me, |
| 1:19.6 | have cash in place. If you do anything with me, go set aside cash. Now my |
| 1:24.6 | dad for the longest time always told me to follow and said always have savings that nobody else knows |
| 1:30.4 | about. He said it's healthy for marriage, it's healthy for a man, it's healthy for a business, |
| 1:35.1 | it's healthy for you period, have cash set aside somewhere that I don't even know about. |
| 1:40.5 | That your wife doesn't even know about that. Nobody knows about because it gives you a certain |
... |
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