This is life and Enterprise management and so as a result we want to make sure
we work on both we want to create a system that allows you to succeed in
both areas life and your enterprise by the way which one would you say is more
valuable which one that's not how most people live the game most people make it
the enterprise and as they make it the enterprise they wake up and they have
tremendous amount of economic success if they're successful and what's ironic is
what makes you successful may not make you fulfilled and so there's a big pull
in our culture to go for what's most successful what will reward you
culturally with respect or acknowledgement for stars on your chart
or economic rewards thinking that will give us freedom but how many of you have
been very successful in business and not been free ie your business as I got more
successful demanded even more from you how many have this experience say I so
what I want to really make sure that comes out of this is an evaluation of
what your real gifts are that are going to fulfill you because many of you are
living a script around your life that involves having an enterprise one really
that may not be your true nature that's not to say you can't do it
it just means you can do it you'll be stressed out of your life stressed out
of your mind and so one of the things we want to find out is how much of that is
natural as a problem come up to that it may be unnatural unnatural meaning
you're creating having problems right now that you shouldn't be having at this
stage of development think about if a child is brand-new and they have a
problem with controlling their bladder that's a natural problem isn't it but if
you're 50 and you have this problem you got a challenge if a brand-new business
has a cash flow challenge it's a problem but it's a natural problem if it's a
business has been around five or ten years and it's got a cash flow problem
you got a real abnormal problem maybe you got a problem that's even
life-threatening to the business how many follow what I'm talking about here
sometimes those problems have to do with the fact that you don't understand the
stage of development you're in the most important element is for you to be able
to do this to be able to establish most importantly where you really are in your
life today where are you and where do you really
want to go what's gonna create this extraordinary life and to look at it
brand new because some of you right now if you continue the direction you're
going are gonna be successful and unfulfilled unhappy and stressed because
once we get you know into a dream then that dream starts to take on a life of
its own it gives us juice it gives us energy but how many forgot the dream
achieved your goal and then thought is this all there is how many got this
experience they I that's more painful than not even achieving it because now
you've done everything you've worked through that and you're successful and
you're not happy so for some of you you're gonna need to take a look at that
Michael Gerber the guy that wrote the e-myth you know talks about why so many
businesses young businesses fail and one of these things he says is most people
are not really entrepreneurs but they think that's what they should be they
think that's the sexy thing that's the most attractive thing that's the best
answer and when I say to you is you got to separate the vehicle from the outcome
what is it that's gonna truly fulfill you what is it that's gonna give you
that extraordinary life what's gonna make things magnificent on your terms
not somebody else's terms not your father your mother your background what
is that really separate the vehicle there's many ways to get to that vehicle
I was here in town just the other day and I met a gentleman over here Steve
Wynn's a good friend of mine you started well who basically built most of Las
Vegas and he built it just recently you know the wind casino not only few years
back 2.7 billion dollar hotel the most expensive individual building ever
personally financed individually financed give you an idea the first
estimates on the rebuilding of the World Trade Centers were 1.2 1.7 billion 2.6
billion for a hotel all right this man has the ability to
take large risks and he has the ability to really succeed in a major way but I
bring that up because I was in town and for our new home we were getting some we
have these hot springs we are getting some really large crystals and there's a
guy in town I was his crystal shop right but you got to make an appointment to
see the guy it's unbelievable so I get to know him and talk to him and find out
he's great friends with Steve he's been skiing with ski for 20 years this guy
used to have this business he sold the business didn't actually make that much
money but he was tired stress of the business he said I'm just
gonna do what I love and what I love to do is ski everyday so what he did was he
started vote crystal business made plenty of money and you know his little
business had set aside some money from his previous business and he gets up
every day and skis has a blast that he has his unbelievable life stuff because
you know he's speed wins guests everywhere he flies on a Gulfstream
doesn't have to pay for it it doesn't pay the insurance that's not to pay for
the fuel doesn't worry about me it's managing it or anything
he's talking about all these things he does in his life he has a billion dollar
lifestyle billionaires lifestyle but he structured his life in a way that's
fulfilling we ask time for his grandkids where he has time for his wife we have
time for his passions he just does in a different way he had this big dreamy
setup making this gigantic business and all it did was stress him out now I'm
not saying that's the answer for you but I'm saying sometimes you got to
reevaluate what's gonna really make you fulfill what is your gift are you an
artist are you the talent can produce something no one else produces as a
skill or a product or a service or some impact are you incredibly good at
management you really know how to manage or lead people are you an extraordinary
entrepreneur that has can take that gigantic gut load of risk and can create
the vision and attract the talent that you need and the managers and leaders
you may have all three abilities but which one really fulfills you the most
is gonna be the critical question because we tend to want to do them all
especially room like this because you're all overachievers right me too
and you say well I can do all these yes you can but what will it do to your
quality of life see again the secrets gonna be this what is an extraordinary
life on your terms today getting clear about that at this stage of life where
you are where you want to go and I'll give you an example I have the privilege
of spending some time this last Easter it happened to be that weekend I got
invited by the Dalai Lama for a really intimate group of people we had they had
a large conference but initial meeting the day before was with about 45 maybe
50 people and who was invited we're a group of leaders from around the world
in different areas but primarily the people that were invited that were
leaders in the Muslim world leaders from the Christian world and leaders in the
Jewish world call together by Dalai Lama in San Francisco and so I got to sit in
this room and really mostly witness because I wasn't one of those leaders in
one of those great traditions obviously but the interesting thing was watching
these people and we're together on the weekend of Easter the birth of Mohammed
and Passover I mean it was it was fascinating being there just happened to
pay em it's all happening at the same time you have all these people together
and the Dalai Lama is a really magnificent man regardless of one's
religious beliefs you know anyone who can be an experience where everything in
his life was taken from him and yet still find a way to have a sense of
meaning and be fulfilled and not be angry and rageful and he imagined your
family being murdered Majan your country being taken from you and for almost what
30 40 50 years you're living in this way you can't go home
you know most people would not have a real great quality of life because what
would be going on in their head and their heart would make them insane
because clearly his life conditions don't match the blueprint of what he
thought it was going to be like and for most people that makes them crazy and
yet this man has been through all this truly is one of the most loving human
beings you ever gonna meet he's one of the most generous human beings yet one
of the most compassionate I he prays for the Chinese soldiers that you know have
taken over his country and he doesn't do it like I'm better than you
he just praises the brothers that though the hearts will open that things will
shift your time he's an amazing man so he brings all these people together as
only the Dalai Lama can do and he's very self-effacing and he's very humorous and
you have all these people in the room in the beginning everything is really
wonderful because you know everyone's getting together to discuss how do we
get our great traditions to work together and and sure enough people get
up and they talk about who they're representing and what they're you know
sect of that particular religion is and the impact how many people are there and
it becomes kind of a significance fight like a group of business people getting
together fighting for position sometimes and at one point it got a little bit
heated and the Dalai Lama is sitting the chair people go back and forth back and
forth back and forth and I'm thinking wow how's he gonna handle this and he
did this he's what he raised his hand like a school child
and everybody's talking talking he's kept his head up like this little smile
right and then finding room kind of got quiet and then somebody called him and
he said your holiness and he said we all represent such magnificent traditions we
represent millions hundreds of millions of people around the world and he said
we'd all have to agree but at the core all these people regardless of the
tradition of following they have certain things in common as human beings as
brothers and sisters of humanity and he said I would say and suggest that what
they all want regardless of their tradition is one thing to be happy isn't
that why they're doing all this they want to be happy they want to have their
children be happy they want to have a sense of fulfillment they just want to
feel like their life has that experience of joy or pleasure or fulfillment isn't
that what everybody wants he said so maybe we should focus on the common
elements that will bring happiness to all people we can find them in all our
traditions maybe that's the direction we should go
with this conference and you could just see like all these heads very proud
heads in some cases nodding their heads like praise and I thought God how
beautiful on how simple that's why you really gain here my friends that's why
you're participating this program at some level you have a blueprint a
mindset a belief system a philosophy a set of values that says if I master this
thing called my life or my enterprise then I'll have this great feeling but
what's really interesting about life I believe that extraordinary life however
you define it has to master skills to it the first skill is the science of
achievement most of you this room have achieved enormous ly at various levels
of business or as an individual artist or talent or as an entrepreneur or as a
manager or leader as an investor I mean everyone in this room most of you this
room have really hit the jackpot by most of the world standards even though most
of you think it's still not enough but the science of achievement is a
skill it is a science there are laws so achievement
even this course to me that achievement is you know business is a spiritual game
that's why I believe it's a spiritual practice I feel like as business all
that's money that's this horrible thing over there that's what the reasons that
they never get really passionate about it I'm a very spiritually driven Purpose
Driven man but the reason I love business is I see business as the
ability to take the invisible and make it visible I think that is what
spirituality and creation is it's about how can I find the gift I have to give
the world and how can I give it in a way that truly adds value not I think adds
value but the people receiving it they vote with their feet and say this truly
makes a difference in my life this is something I value and they you know
because they become a customer again you know because they're thrilled with it
you know becomes they come a raving fan not just a satisfied customer satisfied
customers will leave you raving fans will stick with you
you know how many of you here are when I say the word let's say Microsoft give me
the emotion with sound that you associate Microsoft quit go God if I say
Apple but give me the feedback it did you Apple do it again I didn't lead you
in any way Apple made every mistake they could possibly make to go out of
business I remember you know when Apple started not making any software and they
changed the business and everybody at my company came to me and said you know
we've gotta go because early in our company's history we've got to go to
Windows like Windows is a piece of crap I mean it's a poor copy of this that's
absurd but there's no software and so everyone my company went there but I
hung on to my Apple cuz people that had association to Apple are raving fans
they stuck by it and now they got their iPods and now they've got you know there
are magnificent computers and they know they have the best computers in the
world they just smile and laugh but to notice when most people associate to
Microsoft even though it's the biggest player in the world you can just here by
the emotion you know just yeah something we got pissy about very few people
you'll ever meet that are pissy about Apple except people from Microsoft the
point is one is a satisfied customer at best the others are raving fan if you're
gonna play the spiritual game of business the spiritual practice think
about how fast can I take when I envision and
make it real how can I find my form of service my gift and give it in a way
that is most impactful that's really what this is really all about now the
second and that member I said this is a science to achieve and we're gonna go
through that science how do we create a sustainable system that makes that
happen but the second skill of life is less focused on and if you're gonna have
not only management but create and grow an extraordinary life you've got to
master the second and that second master skill is the art of fulfillment the art
of fulfillment and the art of fulfillment I call it an art because art
is like what one person thinks is beautiful somebody else may think is
ugly but what you have to be able to do is find out what is it for you that's
gonna fulfill you and I'll tell you there's two primary elements to that
you've got to figure out what is your gift that's gonna give you a sense of
meaning cuz you can't be fulfilled without a sense of contribution you can
feel happy happiness for most people is temporary like pleasure you know eat a
chocolate cake make love you know score a point in the game you know get the
trophy you'll take your business to the highest level make the money there's a
moment in which or maybe a day or an hour I don't know how long it lasts for
you but when you achieve those results will you feel happy how many know what
I'm talking about here say I and how long does it last I can remember a day
when I was on stage I was in New York City I was doing what I loved I was you
know giving an event there were 18,000 people and I was in the mode of doing
what I love Phil going forth Full Tilt and during one of those stretch breaks
somebody ran up to me and told me we our company went public that day and I need
four hundred million dollars that day and I remember why I thought that is so
cool and I just went right back to the I was doing which is what I love most
which is serving people my passion you know lighting people up feeling it
and then I went home and I said oh yeah it's unbeliev only 40 million dollars
you know what's for lunch and I'm not saying that you know in a
cutesy way or an arrogant way it's just like what what you would have thought
would be like the most unbelievable thing
that wasn't as fulfilling as my art you know my core gift being given is
wonderful and this good thing because later on it was an inner company and I
saw her quite a bit drop of that company like about 90 percent you know 85
percent and so I wasn't completely attached I wasn't happy about losing
that by any stretch but my identity wasn't tied to it so it was a hit
it wasn't thrilling but I knew if I've done this I can do it again what I
learned from this process but my gift was still there I bring that up because
you got to find out what your gift is and many of you know what it is and many
of you think you know what it is remember what makes you successful what
makes you fulfilled maybe two different things so success without fulfillment
that's called failure you know somebody who's got everything they thought they
wanted and they're not fulfilled they got a real problem so what's gonna make
you fulfilled finding your gift contribution life's not about me it's
about we if we feel like we're contributing to someone else then we
don't just get something we become something and what you get never makes
you happy long-term who you become makes you very happy or very sad so part of
that article filming is what's my contribution the second part of it is
appreciation some of you are contributing but you're not taking the
time to really appreciate you're not noticing so the artifice filament comes
from contribution and appreciation
tell us what's been going on where are you now what started my career by
producing products 25 years ago and I've always sold them yeah and I thought that
I needed to sell them in order to make the money yes so that's been the pattern
yeah and for the last ten years I've been selling software that I created
sexcellent software excellent software but I thought that I had to be the
entrepreneur and and while I'm producing software time just goes you know so that
Monday morning comes and suddenly as the weekend and I've got to stop running a
clearly a unique being here but he said but disease certainly has his art right
he knows his art because he's totally fulfilled time disappears
okay and I thought the only way to provide for my family and those that we
provide for was to to sell to sell and to manage a company for the last 12
months well I've lost half a million dollars this year running a company with
a good product okay so it's pretty obvious I can't gonna company it's not
my center so many times I get up on Monday morning I feel like vomiting
because I don't feel competent I don't feel like I'm doing good job
it seems decision after decision I make is the wrong decision yes I know I'm not
an idiot I know I know I'm a reasonably smart guy then as I saying to my wife
just a couple of weeks ago I said I've actually lost my confidence because for
a year now every major decision I've made has turned out to be the wrong
decision and I I don't know whether I'm able to
make the right decision but that's because I was doing something that's not
my nature that's great that's great so I came here and the the future looked very
bleak because I'd lost my confidence and now that I've been reminded that that's
not my nature and I'm focusing back on what I can do I'm feeling good about
myself good well you're gonna lose giving him
this multi faceted if you do you also attach to knowing what your nature is
and knowing its value meaning that it's not less valuable than running a company
per second have you gotten that piece as well yes
yes now I can spoke to you when we're in platinum here and you told me get out
yes I didn't know how because if I didn't run the company I had no income
because I've been struggling with that now what I know is I go back to what I'm
passionate about and what I find so easy and that is creating yes and it's like
an incredible load has been lifted off my shoulders I no longer feel guilty for
my failure my so-called failure it's I'm just relieved
it may be failure maybe even one of the most important lessons that you've ever
had in your life and it may be a lesson you can pass on to your children and
save them an unbelievable amount of pain in their life so that they don't do the
same thing because they think they should be like dad or like mom or like a
brother or sister or a friend or what the society has told them I mean I think
it's one of the most important lessons and the challenge is we don't tend to
remember a lesson that is easy because it it true I mean when we succeed what
do we do we party when we fail we tell them to ponder and that pondering takes
it from the cognitive down into the emotional and eventually down directly
into the gut in your body and now the lesson becomes one you don't forget for
a lifetime so I don't know that it was a failure and I'm not just using it to be
positive or you know be playful or blow some up with your language but I think
it's really important you give it the effective and true meaning if you got
the lessons so the most valuable lessons your life wasn't a failure at all and
will give you freedom and fulfillment for a lifetime absolute freedom and this
is 25 25 years down the track yes and for a decade I've been doing that which
I I hate I'm passionately hating what I do I talk about live with passion I have
passionately detested what I what I've been doing but I didn't see why I felt
trapped so how are you gonna do now what are you gonna do definitely
gonna go back and you're gonna become you're gonna grace your gift and are you
going to sell the company are you going to partner with somebody are you going
to work for a company and just take the income and have the freedom what are you
gonna do what's the route that you're going to take do you know yeah that's a
very good question I haven't figured that out
what could I do know the outcome and that it be spending my time in creation
perfect so the future is bright whereas I came here I was a mess I was stressed
out and then never I've never been so stressed in my life as I have been in
the last six months well now you're not going to be so thinking about what life
will be for the next ten years plus give a big hand yeah whether you're the
talent no that's the gift you've got whether
you're the manager leader whether you the entrepreneur find your gift and give
it every day with more intensity more Beauty more love and more unselfishness
and ironically you'll fill up even more you'll feel more love and joy and
happiness because you'll love yourself got sex regardless what other people do
and it won't be an eagle of yourself you're lying to yourself so you can make
other people think you're a certain way it'll be you connecting with you and
when you can actually you it's very easy to connect with the real part of other
people that's what I for the price management is I'll give it to you five
thousand about three thousand-year-old simple phrase know thyself but I had one
then be thyself you violate you know yourself but you don't be yourself
you just wasted all your time don't make yourself wrong engage yourself find the
gift I gave you a perfect example I have a friend John McCormick he owns a
company called visible changes Hair Salons I don't know how many the guy
that like seventy five whatever they are very very successful man he was ink
magazines you know entrepreneur of the Year many years ago and when I first met
him he had these great conversations and I asked him about what really changed
his life and this guy was you know from the Bronx or Brooklyn rather and all of
his family members his father and his father's father had all been police
officers so kind of picture that culture growing up what are you supposed to be
when you're born a cop right and everything associated
cops important so that you know you you like your mother or father you like your
family they're close and loving to you and he's a cop and grandpas a cop the
cultures being a cop you're gonna be a cop
so he became a cop and as a cop you know 19 20 years old he found out something
about himself that was different than his family his father relished running
into a building where somebody might have a gun to his head and figured how
to talk his way out of it like when he's working with a crook he did not have the
same gift he didn't have the gift of desiring to be in a place of such
massive uncertainty like his father did not at all not in this context anyway he
might want somewhere else but not here everybody wants variety that's not what
he wanted and one day was chasing the guy turn around the guy had a gun out to
his hat and he fired at him and barely missed and fortunate his partner got the
guy and the next day he said I'm not being a cop it ain't worth $20,000 a
year to have somebody shooting at me every day now when he did that nobody's
family was happy about but he said you know I mom I am NOT gonna do that come
on so interestingly enough you get a very creative mind and you like people
in a long story short some guy met him and said you know it's Christmas time
when he quit he had no money and he said how about you know you partner with me a
friend of his he said we'll buy a bunch of Christmas trees he said I got this
money and I'll give you 1/3 if I gotta pay for if you want to put money in
we'll split 50-50 and let's let's pick this little you know parking lot over
here it's not even ours let's stop Christmas trees there man we'll make
some money so he said well if there's no electricity the guy says come on man he
said there's a woman next door well borrow our electricity well get a cord
from her so sure enough he his buddy John MacArthur his buddy they go out and
they buy these Christmas trees they drive a million miles away to get him so
they get really cheap they bring him to New York City down in Brooklyn it's a
little parking lot old broken-down building they put him out there and they
sell all the Christmas trees and they go back and do it again they keep
reinvesting and over the period of like two or three weeks
he makes X amount of money I don't really remember the number of let's say
it's $10,000 more money almost as much as you'd make in a year
half as much he's making here he made it without somebody shooting enemy
three weeks he's like this is something I'm into so then he took that money and
he had a knack for just studying things like he you know he's a very popular
girl and he looked at a couple things he's you know I'm invest in some stocks
yeah I'm gonna invest this company any best in the company and one story short
he did so well than in a period of roughly a year he made a quarter-million
dollar okay he'd been a cop making 20 grand roughly right so now he is flying
high and he's doing so well that the guy who is his stockbroker says to a man
you're incredibly good you ought to do this for a living so he introduces him
to his boss and sure enough he gets a series 7 license and now he's a
stockbroker what a change how's the stockbroker he's picking these deals and
he does really really well and he makes almost a million dollars in the next 12
months he does most of them his own start picking he makes someone on the
salary but he's this more interest to the pickings like really good at pattern
recognition it's about a woman and so sure enough he does the steak and all of
a sudden his ego is out of control he buys a brand new limousine his own
personal limousine and hire as a person to drive him he goes out partying every
night and the woman who loves him he just blows her off and he starts chasing
every woman that exists there and all everything is wonderful in his life
until one day who knows what happens the market crashes and sure enough as the
market starts to crash specifically his stocks crash is the most important thing
and he loses everything hutch lose everything but now he's gonna pitties
again he's down like $5,000 and of course he throws all that down too and
he misses there and he's like if I could just get some money I can do it so he
convinces a bank based on the money's earning last year to loan him money and
the next thing you know and he's a quarter of a million dollars in the hole
owns nothing his car is repossessed all his friends disappear because they
weren't really his friends they were just people who were getting resources
from him and he's completely alone and now he
wants to kill himself because contrast you know I've been a millionaire in a
year I've had everything and I have no have no cars no all have no direction I
don't have it I don't have a college degree
I'm humiliated I'm destroyed so he goes to the to the beach right near the pier
and he's sitting on the beach and he's looking at that and he's planning how
he's gonna do it you know like do I tie it Rock to myself you know and jump off
the Bruno off the pier you can't live this way anymore he thinks he can't deal
with it he is what you would call stuck thank for the capital S and as he's
sitting there and he just looking out all this anger and intensity and
stuckness inside it's been an engaging he's just living in it and this old guy
probably 70 years old comes walking by he goes the ship the ship he looks up
neo sunny but to the boy the ship you ship it coming in there's a sandbar
there it can't come in you gotta go out to your ship he said won't you talk
about old man because your ship it ain't gonna come in for you you got to go out
to it obviously this old man saw what this young man 25 years old was doing in
his head it was obviously on his face and he said so tell me why the long face
he said you really want to know and so sure enough John dumped a whole load on
him you know his upbringing you know Brooklyn growing up people shooting at
him quitting the police force the Christmas tree story right making the
money in stock square million making a million dollars becoming a stockbroker
losing her all ball of money from the bank and now he's he's worth minus two
hundred fifty thousand bucks the frankly is not a reason to live my friends
weren't my friends the one woman I loved you know I went out with everybody else
she's around but I don't feel worthy of her anymore
he looked at me said can you ride he's what
can you run oh yeah of course I can run he said you think he could beat me in a
hundred yard dash hey luck there was a come on old man
you probably what three times my age yeah I could beat you on your dash she
said what a bet on it you sound like you're a betting man
he said well oh what's the bet 50 bucks 50 bucks I beat you in honey
yard - he said what's the catch there's no catch
he said in fact I'll give you odds ten to one if you beat me I paid $500
thousand five hundred hours a lot of money all right he said he said but I
want you to go you got the money goes well no he said meet me tomorrow morning
come back here at 8:30 we'll have our run bring the 50 bucks
you beat me in her yard - 500 bucks I beat you I get to 50 bucks deal okay old
man he shook his hand he told me that he's I thought I don't know I don't let
this deal isn't maybe the old man just feel sorry boys give me 500 bucks but
for the first time he had a compelling future
he said problem is eating at 50 bucks so he went on to his girlfriend the one
that stuck by him right ain't all of the story and she was like skeptical as hell
but she had 50 bucks so she gave it to I'm sure enough the next morning shows
that of 8:30 in the morning he's ready I'm gonna get my 500 bucks you know
that's compelling got something looked forward to now got a reason to live at
least for a day or two you know 500 bucks to be a lot of money again at
least I could you know maybe I could have done it gonna do something he said
so he get there and sure enough he's weight weight and got his you up sure
enough he ends up sitting the same place looking at the water and he goes already
sunny and he looks up he goes yeah I goes you got your 50 bucks he goes yeah
you remember the odds cuz yeah ten to one yeah great he's just now sunny are
you strong think you could beat me said oh yeah
he said now you ever been to the track he said what he means at the river and a
horse track he said yeah I said what happens when one horse shows up and it
looks a lot stronger than the other horses in the world they had together
he said that's right he said so I brought you something
he said how do they had a Kappa nice as well usually they put some extra weights
on him he said well he said I don't need that handicap I don't need to carry
those ways he said so I'm gonna give you something instead and he hands him a
knapsack he said get in he said what he said you marked that first you made mark
100 yards so he marks under yards he goes okay they says okay the handicap
story goes given me handsome a knapsack he's goes get in they said fine I'll
still beat you I'll pee I'll hop faster you down there old man you said you
think you're gonna beat me he said I know that's why I'm gonna give you a
second handicap did he turn him around backwards that's right he goes ready go
and the old man took off running and as you guys man beat him easily
so he comes behind he takes the 50 bucks from him he's gonna keep your work give
me it he takes it at D bucks um he said so what you learn is that I learned I
got gypped and ripped by an old man he said that's all you learned he said go
jump off that bridge he said that's all the smarter you are then you go jump off
that bridge if you're a little smarter I think you are you go home and you think
about this you meet me tomorrow morning at 8:30 and I'll have lesson two
you don't need to bring any money just bring the answer to what you just
learned if you give me the right answer I'll take you to the next level and John
spun-out walked out of there gone I got conned by an old man I lost 50 bucks
more have 250,000 and 50 bucks in debt it's my girlfriend I got the 50 bucks
he's like how am I gonna tell her that I lost it 50 bucks in a race to no man
all night long he's up trying to figure out what the hell you supposed to have
learned from this don't trust people don't listen to people right cuz every
moment of your life you gotta decide what are you gonna focus on and what
does it mean and what are you gonna do is it the end of the beginning
are you punishing rewarded meaning is where all life is shaped and you have
the power to change the meaning how fast do you better ask a better question
we'll come up with a better answer so sure enough he comes back the next
morning thought all night sure enough the guys there his name's
Abe Abe's there he's an okay young man what did you learn he said well I guess
what I really learned is I lost because I let you make up the rules
he said I got two sons both went to college took him 10 years to figure that
out after college he said you could be a very wealthy man and John's eyes lit up
he said what's the next lesson he said well if you get that lesson on that one
alone you could become wealthy his second lesson to him was he said now
tell me what you think your challenges he says I don't have any money
he said well have you ever done a balance sheet he said well of course I
have I don't want to do a balance sheet it's it great let's do the balance sheet
on your life here tell me what's on a balance sheet what do you think is he on
the balance sheet guys what do you see what do you see assets and liabilities
he said so you're telling me right now you can't succeed you don't reason to
live and he said my guess is it's because you haven't done your balance
sheet a long time so he said come on let's fill out the balance sheet of your
life tell me what you got and he said well I'll tell you what I got
he said I got I got - $250,000 is what I got actually - two hundred fifty
thousand and fifty thanks to you I owe a quarter of a million dollars I'll tell
you what else I don't have you know a college education I don't have a degree
I don't have many friends he went on and on and on and all of a
sudden the AP shook his head he should stop stop stop stop you clearly know
nothing about an asset see you don't know how to find out him you know what
your assets liabilities are I said think about this you got a balance sheet what
does that tell me when you start with a liability side any man that starts with
his liabilities before his assets is destined to have pain he should tell me
some assets because I don't have any assets nobody might he said come on he
has some assets he said clearly no one taught you how to build a balance sheet
he said the first asset you got is the Oh $250,000 he said any man and get by
it banks along $250,000 has assets he said so first we got to moving over here
asset Oh $250,000 which means the bank is invested in me
now to be able to borrow to $50,000 you must have some other assets oh I don't I
don't have any other assets he said you got high school education he goes well
yeah okay great turn 2000 own high school education okay what else
yes that's it I don't have anything else he said you speak English
so when University he said do you speak English he said yes he's to put it down
speaks English do you know how many people don't speak English to come to
this country and become multimillionaires and how hard it is
when you can't speak English speaks English he writes good alright what else
he goes I don't anything else he said do you know currency and you know he says
well do you mean like yen to the dollar he goes no do you know currency quarters
nickels you know how to put them together to get changed she had goes
knows currency and he just kept building this thing and building this thing until
there was so many assets and so few liabilities that John got it he said you
know you lay around town so I mean you do you know how to get around town you
have to get from one place the other young people don't know how to do that
when they come here you think that's why you have an asset and you probably not
to do it efficiently did you know many immigrants have come to this country the
don't speak English the don't know how to make currency that don't know how to
get around the city and became multimillionaires because they're more
focused on their assets than their liabilities your turn
make your balance sheet what's your goal in a balance sheet to have a lot more
luck then what brings a much higher net worth doesn't it how do you feel about
your business right now well what if you know that whole thing
what if you know I don't really have to resistance to haven't run the business
but it's my vehicle what's the answer to that question guys get a what team if
you want to stay in the business get a team be the primary talent find somebody
else to use the man if you later find somebody else is gonna be more than
entrepreneurial side of that share what could be built if you have something
that is a real talent or if you have a real management ability you can attract
the other two people you can find a talent that you can help promote manage
and lead and you certainly get somebody to help
to take the risk with you on it and help you innovate it that's what we're
talking about here make sense does it sound like something that you're
committed and really mastery for your life yes No
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