Your Ego Is Keeping You Poor | Bill Perkins

BigDeal

Codie Sanchez

Business, Investing, Entrepreneurship, Marketing

4.8 • 681 Ratings

🗓️ 29 January 2025

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, Codie Sanchez and Bill Perkins explore the intricate relationship between ego and wealth LIVE, emphasizing how our ego can hinder financial success. They discuss the importance of speed in decision-making and how taking risks is often more about managing ego than financial loss. They delve into team dynamics, highlighting the roles of visionaries and executors in business. Perkins shares insights on maximizing time and money, the necessity of aligning family goals with business ambitions, and the challenges of delegation and the importance of finding the right operators in business ventures. Chapters 00:00: Ego and Wealth: The Hidden Connection 02:50: The Importance of Speed in Decision Making 06:11: Risk: Ego vs. Financial Reality 09:04: Building Teams: The Role of Visionaries and Executors 11:52: Peak Utility of Time and Money 15:08: Aligning Family and Business Goals 17:54: Navigating Business Opportunities 23:57: The Depth of Personal Investment 24:57: Defining Personal Success and Fulfillment 25:56: Balancing Wealth and Life Experiences 27:46: The Importance of Shared Experiences 29:59: The Role of Wealth in Enjoying Life 31:11: Evolving Philosophies on Wealth and Fulfillment 32:10: The Power of Subtraction in Life 34:02: Finding and Managing Operators 36:10: Balancing Ego and Delegation 38:20: Taking Risks and Going Big 41:12: Memorable Investments and Experiences 44:01: Identifying Key Ingredients in People MORE FROM BIGDEAL: 🎥 Youtube: / @podcastbigdeal 📸 Instagram: / bigdeal.podcast 📽️ TikTok: / big.deal.pod MORE FROM CODIE SANCHEZ: 🎥 Youtube: / @codiesanchezct 📸 Instagram: / codiesanchez 📽️ TikTok: / realcodiesanchez OTHER THINGS WE DO: Free newsletter: https://contrarianthinking.biz/3XWLlZp Biz buying course: https://contrarianthinking.biz/3NhjGgN Resibrands: https://resibrands.com/ CT Capital: https://contrarianthinking.biz/4eRyGOk Main St Hold Co: https://contrarianthinking.biz/3YfGa8u Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I stole one of my richest friends for us this episode. I wanted him to tell us how our ego is keeping us poor,
0:06.0	and what are the secrets that rich people use to make more money? During that time, he also is going to tell us things like how he had a $54 million tax bill one year. No big deal.
0:18.1	He's also going to talk about decision making in general. So if you have ever
0:21.4	wanted to make cleaner, clearer decisions, if you feel like there are these problems in front of you
0:25.4	and you can't find your blind spots and thus can't get the problem out of the way, you're going to
0:30.2	like this episode. And if you want to figure out how to get really rich people or really impressive
0:34.1	people to bet on you and become a person of consequences, you're going to like this episode.
0:39.9	So without further ado, I want to introduce my friend Bill Perkins,
0:43.0	multibillion-dollar hedge fund manager, best-selling author of Die with Zero,
0:48.1	also amateur poker player, and one of the most asymmetric thinkers that I've ever heard.
0:53.8	He encourages me to think bigger and probably made me millions and millions of dollars through
0:58.2	just two conversations with him.
1:00.4	So I think you can do the same for you today.
1:03.9	I don't think I've told the story to this group here before, but do you remember when
1:07.2	we were walking at your house, it would have been the first time on the grass,
1:12.5	and we're walking along, and I was telling Bill an idea I had about how to help all of you,
1:19.7	how to help business buyers and builders buy more businesses. And I had like what I thought
1:24.8	was a really good idea, right? I was like, this is a really big idea.
1:27.9	It's going to be big.
1:29.3	And I'm telling Bill, and if you guys ever, like, told an idea to your spouse that you were
1:34.9	like, I'm so excited, this idea is going to be so big.
1:37.4	And your spouse just goes, bat, bat, bat, bat.
	...

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