4.6 • 1.9K Ratings
🗓️ 21 November 2021
⏱️ 3 minutes
🔗️ Recording | iTunes | RSS
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0:00.0 | You're a genius when you're a billionaire. Who cares how long it took? It's enjoying that journey. |
0:06.5 | This is Entrepreneurs the Playbook. I always have a goal in executing a business that first, |
0:12.4 | I make the investment to break even break even to try to make three times what my investment was. |
0:17.7 | Building a business is an evolution, not a revolution. Staying in business is the key to business. |
0:23.0 | As long as you're in business tomorrow, you got your lottery ticket. It may take you eight months |
0:27.4 | to be a billion dollar company. It may take you 80 years. Whether it's eight months or 80 years, |
0:32.7 | you're a fucking genius. You're a genius when you're a billionaire. Who cares how long it took? |
0:38.9 | It's enjoying that journey. So here's the three steps. One, there's an investment phase. |
0:45.6 | The investment phase is understanding that I'm not going to make any money. |
0:50.0 | That means I might be sleeping on a couch. It might be, I'm a borrow money. It might be, |
0:53.8 | I might raise money, but I'm going to make that investment myself. |
0:57.9 | And then I'm going to start having to invest in other people as I scale. |
1:01.4 | So even today, after 10 years warm in our business together, I still break down a new employee |
1:08.0 | to scale my business, a new location to scale my business, a new business unit to scale my business. |
1:13.7 | What's the investment that's needed? How much money, time, resources is it going to take |
1:18.8 | until one thing happens, break it. Right? Scaling is not even about profit, right? |
1:26.4 | If I could have a million employees and break even on them, eventually I'll make a lot of money. |
1:32.0 | If you want to scale a business, you need most of the time more employees, maybe not. |
1:35.7 | Maybe it's more products. Maybe it's more trucks. So most of the time to scale a business, |
1:42.0 | we need people in knowledge. Here's how I scale a business. I take someone and let them shadow me. |
1:49.8 | Just watch me. Then I let them work with me. |
1:55.6 | Then I supervise them, right? Then I drop off and I break someone new in to shadow them. |
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