so it’s no secret that the number one reason why people don’t get in the entrepreneurship I don’t really do anything that they ever care about this beer and that’s logical it makes no sense to go and pursue something if the downside to you is greater than the upside that’s never going to change you’re never going to get past this as long as you think like that and I’ve thought about this a whole lot and the reason why most entrepreneurs get started is something happens that makes the upside greatly outweigh a downside so then they get started and if you’re afraid right now if you don’t have confidence in yourself you don’t have the ability to move forward just because your mind is screaming at you know you need to understand how to flip those barbells you need to understand how to flip those weights that you have attached to things or it’s never going to work this is how you do it [Music] so if you’re worried about failure or confidence in yourself are you just overall afraid there’s good news that that’s pretty normal and if you want to get past this the solution is actually really obvious it sits right in front of you it’s just sitting right there and it’s gonna take me about five minutes to explain but once you understand how it works it’s gonna be very easy to remove if you want to remove it that being said if you have this problem and you can’t focus on this for five minutes and you must go watch the latest political video on YouTube that’s bonkers to me that’s like walking into a room when you have a really really bad disease and in being like now I want to go see what Donald Trump is doing I’ll fix this later but by all means anyways so people always asked me on streams people always ask me how I got over my fear and I had a really unfair advantage I’m going to talk about here in a second and to be honest my answer this question for the longest time is the same answer that most entrepreneurs and most people you see on YouTube or anywhere give it’s just to dismiss it or if I was watching a Dan pania video and his solution is to just call someone the c-word which I suppose works because people seem to like him but I don’t I don’t feel that’s the truth I don’t feel that’s the right answer and I feel that’s a comp out because the reason why people don’t get started is because logically in their head the upside to become an entrepreneur doesn’t outweigh the downside and it’s because if you really think about it people’s views on the downside are warped and I want to show you how to get past this beyond just screaming at you or insulting you because that’s dumb if it was as easy as just Manning up there’s lots of people that work really hard jobs work crazy hours do insane things just to get by people are capable of Manning up and doing the work I don’t believe that 99% of the population has no work ethic or won’t won’t take a risk okay people go in gamble all the time have you seen Vegas people obviously are capable of taking risk and mass mass amounts so I don’t believe that’s the answer and I think this is the answer right here and I’m going to show you how this works and first thing I want to do is explain to you how I got started in the unfair advantage I had and then how fear and lack of confidence actually crippled me all over again you’re not immune to it once you become successful and I want to point that out first and foremost then the next thing I want to point out is the main reason why you’re probably afraid to get started while you probably have fear to take any risk and you’re not going all in on this if you’re already on start and that’s probably why you’re feeling cuz you’re not going on that’s the whole reason why everybody gets sucked they don’t go all in and then finally I want to point out that the big one the big solution that you have to take in once you get past number one and then it’s just becomes easy it doesn’t make sense not to do it at that point and it becomes very very easy to get past this and you don’t need to be called the c-word to get started you just do it so let me explain so what’s going on when people are thinking about becoming entrepreneurs is this little equation right here alright so if I can pull up my chalkboard what’s happening is this so here’s the upside of being an entrepreneur and here’s the downside imagine it being like a barbell okay we got weight right here and we got weight right here so when you’re getting started the downside has to weigh significantly less than the upside that is just it all right look if this right here is a hundred pounds and you have ten pounds right here in your head if that’s how you view it it’s not going to work like that you’re not gonna do something where you basically view it as playing Russian roulette and no amount of yelling no amount of haikus no amount of giving yourself positive reinforcement in the mirror is going to change this it’s just not no amount of negative reinforcement no amount of positive reinforcement is going to make you make an illogical decision if you think it’s an illogical decision that’s just how it is and it’s the only way to push yourself forward this is a play with the inputs but unless you understand this you’re going to get stuck again and I’ll explain to you how I got starts so when I was in the military I didn’t go into the military want to be an entrepreneur when I was in high school I don’t want to be an entrepreneur or I didn’t want to be a millionaire I didn’t believe I could be a millionaire I never thought in a thousand years about starting a business I never thought in a thousand years about any of that and when I was in the military what happened is the job I had the people I work for there’s nothing wrong with the military I suggest actually every young person who doesn’t know exactly what they want to do just go join military but the people I worked for it was a very rough place to work and there was a lot of weird stuff going on there and I’m not gonna get into it I was just I was in hell the last two years of the military and a lot of it was self induced and I’m not gonna go on pointing fingers and throw some rant right here I’m gonna say I was just in a really bad spot and I desired I craved the ability to have freedom and make my own choices and I craved the ability not to live like this for the next four years of my life I could not do it I simply could not do it working as a Starbucks barista for the next 40 years of my life was a great alternative to this so what happened is because of the mass amount of pain I was in and the frustration this downside right here leaving the military and taking a risk taking out all my savings and trying to start a business it was like 10 pounds okay and what I did when I was in the military is I built up enough income by freelancing and like writing blogs and started my business a little bit then they got down to like five pants like I had a little bit of money coming in when I left the military but even when I got started what happened right here originally is there wasn’t much downside because I had money coming in there was no real risk for me trying to start a business while I was in the money military cuz I had money coming in so the first thing I did is I eliminated the downside and then my anger and frustration and just an ability to cope with the situation I was in I was not gonna do this for the next 40 years of my life my reenlistment was coming up and I had to make a decision am I gonna stay in and give up and this isn’t like the motivational like am I gonna give up I’m dreams I’m like am I gonna give up on life am I gonna die inside for the next four years of my life next 20 that’s usually the usual military enlistment but you get the point and my answer was no so this wait right here was very very low and in the upside if I fail I get I’ll just get a job as the Starbucks barista I’ll do that that’s no problem I had extremely cheap rent lined up when I got out it was like 500 bucks a month for me to live maybe not that a little bit extremely low within like $200 of that and the upside of having freedom after being in such a restrictive position for so long the upside was like a hundred pounds and so there wasn’t some magical a haiku I told myself someone that come in my airforce dorm room and call me the c-word to motivate me I didn’t read a Tony Robbins book simply the logical decision the only no-brainer decision will start a business start a business and even if the business fails you have to cheap rent and it’s way better than where you’re at right now there’s no downside just do it and even when I was in the military the downside of doing it was very low you have to view it you have to set up in your brain you have to go and determine the things that are making the downside so high and so that’s what happened but I want it I want to point one thing out out there and that’s what happened and the thing I want to point out though is that this doesn’t stop until you become aware of this it’s going to catch you again and what you must realize is that rich people are ten times more afraid than poor people they’re terrified all the time because what happens as soon as you go out there and let’s put this barbel situation back up all right we got the downside over here you got the upside again let me make sure my screen isn’t covering that I’d do that all the time is this will reset because let’s imagine you going you get the $300,000 per year but what then happens you go and get a house you’re going get a car you’re going to probably start eating at nice restaurants and living a little bit going to the bar and spending a lot of money and once I got some traction I got to a point about 1.5 million a year I would say about a year and a half after I left a military granted I had been working in my business for a long time in the military soldiers by no means that I get to 1.5 million in a year and a half it’s probably close to two and a half years that being said as soon as I got there you know what my number-one fear was it was losing it it was losing this and so suddenly I became a slave to the money I was making and the things I was buying and now granted I lived very frugally I lived in a one-bedroom apartment for years when I was making multiple millions of dollars a year for a year I didn’t get my first Lamborghini until I had multiple consecutive 600 6-figure a month what am I saying $100,000 per month months but why did I do that why first off why did I hesitate because I was afraid of losing it I was afraid of losing it but more importantly what did I do with every single dollar I made I kept it I kept it and I put it in the things and material things and I also saved it up in stockpile that like Scrooge McDuck and the result of that is I never really took big shots and if I’d start market here on the companies I’m working on right now back then I’d probably be worth a hundred to two hundred million dollars right now I’m not I’m not according to Google I have a net worth of close to 17 to 20 million dollars if you ask me my net worth is six Arby’s melts that’s not something you should be concerned of and net worth is such a silly thing to go off of really anyways the point I’m trying to make right here is that as soon as I made the money this whole entire thing happened again okay but except the downside of going and taking risk and betting on myself more grew to a hundred pounds and the upside got to like ten pounds this is what happened four years I plateaued and I couldn’t move forward and what happens when you operate like this you actually start heading backwards even though you have to complete opposite intention and so suddenly what happens as soon as you make a little bit of money this shit catches up with you right up again so how do you escape fear how do you get this confidence in yourself I didn’t have the confidence in myself I couldn’t get past the fear of doubling down and going all-in that I have right now I couldn’t go in focus and I kept struggling I kept trying to go out there and make myself more famous and make more businesses and stuff like that without really taking any real risk and that plateaued me it’s it kept me stuck and so if you have a business right now this is what’s keeping you stuck probably and I just want to let you know that rich people are terrified people that make ten million dollars a year terrified most of them terrified they can’t go back every ounce of their being is spent trying to keep it there they don’t they’re so terrified of going back that they can’t move forward and that’s exact spot you were in right now if you’re considering starting a business or entrepreneurship so let’s address why people feel these things and there’s two main reasons and if you can eliminate these I think it’s very easy to get past your fears in any circumstance so the number one reason right here is whether you’re super rich or you’re trying to go from poor to successful your number one thing that you’re scared of every single person is what other people think of you seriously if you didn’t have any friends and no one knew you and you had no family and you had really cheap living expenses that you could easily afford working as a Starbucks barista what is the downside to failing truly think about it what changes as long as you’re renting everything’s covered and just as a quick note if you cannot generate $10 an hour and you’re above the age of 21 you’re making some really poor life decisions and so before you even think about becoming entrepreneur you need to address the life decisions that got you to the point where you have absolutely no money to cover anything if you if you failed I want to point out that I’m no superstar I’m no Warren Buffett of savings and responsibility but since the age of 18 I’ve never been broke ever I’ve never not had money I’ve there’s been there’s been times where I spent my paycheck and then have any money my bank account but more money kept coming in there was never a point where there wasn’t any money coming in and I was a raging drunk and so if an 18 year old raging actually I started drinking a whole lot when I was 21 if an 18 year old though who’s a drunk and undisciplined can’t manage to keep himself afloat you can too so address why you can’t do that quite yet because those poor decisions and poor discipline are going to chase you in the business I don’t have a metaphor for life I was trying to cover the clever metaphor it’s just gonna chase you it’s gonna find you so here’s the thing though the main reason why people then don’t get started and there’s another reason if you have like a family you have the current financial obligations and stuff like that but the main reason is what will people think of me what will my mom and dad think of me what will my friends think of me what will people on the internet think of me and the whole solution right here is that what people think you are is not what you are and how a movie starts is not how it ends if you fail 10 times over 10 years people ago I laugh at you and stuff like that but you this start is not the finish people that go and try something and try to build something for 10 years usually end off a lot better off than people that go to school and take the safe route safe route they end up doing something they love they end up building something they love and they usually end up a lot more successful so if you go and fail a bunch of times all you are is a person that took a shot at your dreams and didn’t get it the first time that’s that’s literally what you are and you are a person who is experimenting with building your future and your vision that’s what you are now other people you might be a failure you might be a whack job you might be that crazy uncle who’s always coming up with the new inventions but that’s not what you are and if you define yourself by what you think other people think you are hears you hears other people and if you define yourself by what these people think you are versus what you are you’re a fool because what other people think you are is the complete opposite of it’s not you it’s not you in the truest sense they don’t have anywhere near the amount of information needed to create an accurate picture of what you really are and then to what you view yourself is is what you are and the truest sense of the word if you are making a thousand bucks a month but all your needs are covered and you feel rich you are rich you were rich other people can tell you you’re poor compared to so-and-so and so-and-so but you don’t need to compare yourself to so-and-so and so what you are is what you are and so it’s incredibly imperative that you just stop giving any fucks what people think because it’s the definition of irrelevant and it’s a symptom you can see this it’s plugging our society it’s an epidemic you go on Instagram and you don’t have to look very far with people standing next to Ferraris and Lamborghinis I’ve done this shit this isn’t me talking from don’t do as I say and I’m whole now I’ve been there I know where it comes from it comes from you trying to define yourself by what you think other people think you are so at this point in time when you’re going out there whether you’re rich or poor if you’re operating from that you can’t see the truth you can’t move forward I’m going out there and trying to build a big-ass following of people because I want other people to think that I am successful because in order for me to feel successful other people must think I’m successful that’s so dumb that’s so dumb my life is defined by building cool things that’s what gives me the most happiness in my definition of life and I think most other people’s is building things that make you happy so in those terms I’m extremely successful whether some sixteen year old thinks I’m cool on Instagram makes no sense and it’s so illogical if you’re getting started to be considering your parents input your family’s input or your friends input and the same exact thing is going to happen to you whether you’re rich or successful right now the reason why you can’t double down on your business and build that big great thing is because you’re restricted by your fear of what other people think oh man I’m making a million dollars a year now you can’t go backwards or people will think you’re a loser they’ll think you’re a wash-up but that fear of going backwards is stopping you from building something great do you think Warren Buffett if you look at Warren Buffett for example the guy didn’t care what people think Zuckerberg doesn’t care what people think if you look at john d rockefeller didn’t really didn’t care what people thought and because of that they didn’t spend anything on their lifestyles are creating an image they weren’t restricted by fear of what other people thought because of that they could do insane things because their competitors are trying to split themselves 50/50 50/50 is controlling what people think of them and trying to create the image of success and another 50% is focus on being success where if you look at Warren Buffett or you look at Steve Jobs are you looking pill Gates you look at anyone who’s really a billionaire for the most part besides Donald Trump okay that’s just that’s just the paradox of a person right there and don’t get political on me we all know that’s true whether you’re conservative or a liberal and but you got to look at those people like Warren Buffett he has 0% on creating the image of success 100% just amazing success who do you thinks gonna win here is this guy this is why you see people like this become billionaires that’s why you see people like this become wash-ups but have a lot of followers on Instagram man they’re fucking cool huh get in bottles at the club everybody wants to be these guys nobody wants to be these guys wonder why alright so anyways wherever you are in life whether you’re rich or poor or starting out you’re going to run into this nasty little creature and you must be able to spot it because that nasty little creature is gonna catch you eventually and stop you so you might as well just stop just define yourself by what you think you are that’s it nothing what your girlfriend thinks about it doesn’t matter what your parents think about it doesn’t matter if you think you’re awesome congratulations you’re awesome because the only person that is ever going to feel your feelings or experience the world is you think about the only person is gonna experience what you’re experiencing right now is you no one’s ever gonna experience what you’re experiencing god man is experience the better Micron’s you will never experience what other people are experienced the only shit experience the only experience that matters is your experience so if your experience is that you’re awesome and you are building your dreams that’s actually pretty cool you can just say oh man I filled again but I’m building my dreams and I’m doing what my life’s purpose is about and then suddenly there’s nothing can’t really fail because that’s what life’s about in the first fucking place you know building your dreams and doing stuff that makes you happy you can’t fail because you’re doing your life’s purpose now if you go out there and you’re trying to influence other people’s decisions and that’s how that influences how you feel about yourself there’s all sorts of ways you can fail there’s all sorts of ways you can fail and the crazy thing is you’re gonna start working towards your appearance and what other people think of you versus your life’s purpose it’s a real catch-22 now once you’ve addressed that what’s gonna happen with the barbells is if your fear is what other people think well guess what it’s really gonna start the upside is gonna start really appearing right there the upside is your life’s purpose the downside is the relevant opinion opinions of irrelevant people even if the people are very important to you their opinion view still doesn’t really matter doesn’t really matter you can want them to like you and they will like you because you’re doing what makes you happy and so they should understand what makes you happy and if they don’t understand you why are you really worried about what they think about you kind of crazy now the next thing is a little bit more logical what if I fail and I lose all my financial well-being okay so there’s a little bit of fear here if you have kids I get that but let’s back up here the easiest way to move forward for me right now I’ve I’ve weighed the options of moving into a one-bedroom apartment and living off a thousand dollars a month just for the sake of having zero attachment to money because when that happens you can get really reckless an aggressive with your business because if you fail there’s there’s no you don’t lose anything there’s only upside like for example if you only need a thousand dollars a month to live and you have let’s say it’s two million dollars to screw around with if you lose that two million dollars it doesn’t change anything there’s nothing but upside so it’s a really good book on this called anti fragile where if you want to go and remove that logical dance on your head just get rid of all your downside that’s it so if you’re starting a business right now what you should do is you should remove the downside you should remove any chance of losing your current well-being if your business fails and it’s not too hard to do so for example in the Air Force I did this very easily by maintaining a job okay and I’ll try actually draw out the weights so I had the weights right here and of course my logical second thing after I got I didn’t care what people thought I just got past them very easily because I couldn’t stand this it’s like I was on fire and that’d be the equivalent to worrying if if my parents would be mad if I put myself out at that point it was much more important to put myself out put the fire out so what’s going on right here is then the logical okay what happens if this business goes down and so a lot of you guys are scared of the downside what happens if I go broke well don’t go broke just just it the craziest thing about this is if your business if you cover your downside if you operate you if you hedge your bets you can constantly take these really high jabs and eventually one of those Hybris jabs is gonna pay off so for example if you hedge 90% of your risk okay which would be losing your apartment would be losing the ability to feed yourself and stuff like that you can take these really crazy 10% crazy risks that have a thousand percent upside and so you get the full opportunity to take advantage of these and the crazy thing about these little the 10% high return risk is you have a lot better chance of them paying off because you’re controlling and if you’re controlling the business and the work that’s going into it it’s not an equivalent outcome it’s not like you’re going to Vegas and you have a 90 percent chance to lose in a 10 percent chance to win this ten percent right here is just literally your risk to you but 90 percent of your risk is covered so you can just keep taking this shot over and over and over again and suddenly you’re exposed to all the upside with zero downside and so that’s really easy to get past fear wise and so an example of this in my business when I first got started is in the Air Force what I did is I just kept my job while I was learning how to build a business and I’d take extra two hundred three and bucks a month my rent was covered and I had about twelve hundred bucks a month I’d say just to kind of pay for food general expenses and invest in my business as long as I lived frugally wasn’t done with it I had money to throw in it so I just kept taking that ten percent risk right there it’s like being able to go to Vegas and when you lose you don’t lose you just keep you can just keep spinning the wheel till you win eventually you’re gonna win it’s that right there logically just makes a total sense and so right now when I was building my business the barbell right here the logical barbell my downside was very low and the up sight was huge I had a thousand percent upside and ten percent downside so why not keep taking the shots it became very easy for me to get past the fear of failure financially and logically and you can keep doing the same thing with your business as well so for example when I built market Hero this is about taking bigger shots once you get going when I’ve got in the market here and I suddenly realize how to kind of do this what I did is I use my first business the cash flow so I was making several hundred thousand dollars a month and then I go and take a lot of that money and then put it into market hero and building the team and stuff like that and I really lost my butt alot when I was building my main sass company that I own right now I lost my but a whole lot didn’t know what I was doing let the team the wrong way complete mess but that’s the point at first yeah if I’d taken all my money and didn’t have any protection I didn’t hedge my bets I would have lost big but I just kept taking that mega ROI risk over and over again cuz I kept covering it I kept covering yeah I kept losing money every single month but it was covered it was covered and so I could just go big it’s just like alright cool whatever and I just kept going and going going and now market hero is a pretty successful company we have amazing team of amazing staff and everything’s going really well and the crazy thing is we solved that cash flow coming in so I can just keep taking more risk and getting more aggressive with it the second I go out there and make some money at market here I can just reinvent I can just I can just bump up our hard cost to that next point and keep bumping up the hard cost and go all in and go all in because my bets are hedged this is how you get past this and that’s what you must do so if you’re just starting out you need to find a way to hedge your bets you need to go move into very someplace really cheap if you have a full-time job right now go find a place that’s 300 bucks a month to live are you or your friends gonna think you’re nearly successful no or your parents can approve probably not but you know fuck them and you need to start working on your life’s vision your life goal and so get some really cheap rent I lived it through for 300 bucks a month in College Station I lived off 300 bucks a month in College Station when I got the Air Force no problem I think I had about 200 bucks a month for food and yeah give or take it wasn’t expensive for me live and I was able to pay for all that just working as a barback and eventually I just quit my barback job because I was able to just cover the small cost just doing really small weird freelance stuff online I didn’t quit the barback job actually that’s a lie I got fired I was terrible terrible can you imagine I was a barback sauce bouncer can you imagine me bouncing not know I did wouldn’t work at all alright so that’s what it and then when I was growing my first SAS company when already my business going I hedged my bets again but let’s get to the bigger point of what’s going on here the way you can really succeed if you want to be very successful is you must just separate all F’s for money and appearance this is hard to do okay like I’ve really weighed this option when I had like moving into a one-bedroom apartment just so I don’t have to worry about money at all like there’s their money has no use to me at that point it’s just it’s just silly I can certain right a thousand bucks a month easy somebody would have absolutely no purpose if I lost money it doesn’t matter it’s absolutely worthless to me all can be used for is to make more money and that’s kind of a difficult thing to understand but here’s what you got to think about in terms of this it’s that money has deceived this generation especially of social media I think the kid the Kardashians have broken so many people’s brains that doesn’t even make sense anymore I don’t I don’t know if they do that intentionally or not but people’s brains are broken because people are obsessed with wealth and appearance right now but there’s no connection it is wealth very important no there’s no connection between being excessively wealthy and Happiness absolutely zero it actually gets a lot lower and as you get richer you get more paranoid of people you have to become more secluded you have to become in if you’re attached to that wealth you become extremely fearful your happiness actually goes substantially down the richer you get yeah sure you can go rent a yacht around but you also have to worry about people kidnapping your kids so there’s catch-22s to everything you have to have security guards like look at Justin Bieber the guy can’t leave the house without security guards can you imagine having some 300-pound man having to wait outside your bedroom door every night as you go to sleep can you imagine every single person you meet having to be so skeptical of them they have to sign papers before they even sit in the same room as you that sounds awesome wonderful anyways there’s no connection between wealth and happiness I am the greatest connection studied and just kumbaya Schiff you think about it it’s working on your life’s purpose in your vision and creating something you love and working on what you love every single day and building something that’s great no one wants to build something that’s crappy no one wants to work on stuff they don’t love and so think about it if you can go out there and really just hedge your bets against the core things the core things you need to be happy food shelter Lamborghinis but just just kidding but if you can go and get the essential things food shelter clothes that’s not very expensive it’s not very expensive AC Union in your house I mean if you look at people even people are on welfare live better than Kings did 200 or so years ago like the average well-being a person on welfare is a thousand times better than the Pharaohs in Egypt so it’s all relevant once you have these things covered right here there isn’t much downside and if you just view these things as essentials that’s the one thing you can’t lose it’s very easy to cover this downside and you can spend your entire life shooting at the upside and oh the thing is you can only gain here you can’t lose you can’t lose this thing right here alright is a Starbucks barista can get these things so the worst case scenario is if you lose you go back to being a Star Trek barista for a while and you ski you just keep betting on that one a 99 chance but the most important thing right here is you must think about it this stuff right here isn’t very important passed once it’s provided five there is no connection between my Lamborghini me being happier than you the reason I might be happier than you it’s because I wake up and do whatever the fuck I want every single day and work on things I love and enjoy that’s why I’m happier if I am there’s no guarantee that makes me a hundred percent happier than you two either there’s plenty of people who work make three thousand five thousand bucks a month and are way happier than me of course I don’t chase happiness I chase something else and I’ve talked about that in other videos that being said I chase my purpose and this isn’t me being like be like me I’m just saying like I don’t understand how a person is happy if they don’t chase their purpose whether it’s raising their kids whether it’s whether it’s surfing I don’t know I don’t understand how other people very well as you can tell but you have a purpose and you have the things that give you reason for being and the most important thing is chasing you those and the most important thing is chasing those and the crazy thing is the thing that stops you from chasing is something that has no connection to your happiness and can be covered with the mining the miners of hedges if you’re getting started the things that’s stopping you from getting started and really going all in if you’re beginning the thing that’s causing your lack of confidence is losing the things that don’t actually even matter to you you are not chasing the thing that’s most important to you because you’re afraid to lose what’s not important to you this is very Tyler Durden Fight Club if you have a business right now the thing that separates mega successful entrepreneurs and ho-hum entrepreneurs is mega successful entrepreneurs have zero attachment to material needs they just don’t care go read about Johnny Rockefeller go read about Warren Buffett go read about any of the huge titans of industry a lot of them when they get started the last thing they’re thinking about is how they can put their money into like silly stuff or make other people think they appear successful they’re just so in love with what they’re doing they build something insane and then some of them start going and spending money you crazy like and stuff like that but they’re so obsessed with their vision and purpose that there is no downside there is there is no downside between because to them not working on their vision and purpose is by far the biggest loss they could ever have and if you start viewing it like that it’s pretty easy to hedge against that and so once you have that hedged and you have that belief and view of it you’re no longer afraid so just do that and stop being afraid [Laughter] [Music]