Kind: captions
Language: en
number one start small to win big if you
start a business and your first business
doesn't succeed the way your brain works
you have dopamine receptors they now
scientists have found that dopamine
receptors add or subtract so dopamine is
the hormone or the chemical in your
brain that is the reward chemical
there's multiple one neuro epinephrine
oxytocin all these but whais dopamine
works is like when you go shopping and
buy cool shoes and you feel good that's
the dope amorites and dopamine drives us
and what happens is when you fail your
body
they're like little hairs they're not
actually here's what we'll pretend they
are in your brain they fall off you get
less of them and the penalty for having
less dopamine receptors today you become
less ambitious when you succeed you
actually grow more it's a new science
showing us so the point being you should
I'm not a believer in having people fail
to in their first business forget that
build a small business that you're sure
you can pull off even dean smith may be
the greatest basketball coach college
coach him and John Wooden he said he was
never a believer in setting goal you
ever heard the thing shoot for the stars
cuz even if you only hit halfway you
would go to the moon he said he called
BS on that he said make a realistic goal
hit it and then make another one you
don't need so I meet entrepreneurs alike
ty I'm grinding away I'm like what are
you doing I'm building a billion dollar
business a guy wrote me an email
dude I'm building a billion darvis so I
wrote him back as an email on a city
well really have you ever made 100
million dollar business no have you ever
made 10 million orbit no this is our
email chain I should have the screenshot
is like no have you ever made a hundred
thousand no and I said so let me get
this straight you're kind of like that
dude there's a lot of stairs in front of
you there's like 20 stairs to the top
and you're gonna do the jump from 1 to
20 you know what happened with people
who jump too many steps you can skip
maybe two or three steps but one of my
school teachers Randy Thompson were
growing up he tried to jump up some
stairs and he was holding books and he
tripped on the third step
and hit his nose on the concrete and he
says the most painful surgery known to
mankind to basically unplugged your nose
from it cracked all the bone up in his
face and that's what most entrepreneurs
do right they go no ty I'm going from 0
to 1 billion oh man as Warren Buffett
said today's the World Series game 7 the
way to win a baseball game it's safer to
just hit base hits and if you hit a lot
of base hits next thing you know your
homework and once you've done that a few
times you'll have so many dopamine
receptors that you won't fail
number two leveraged fear to overcome
anything we live in a society that's
very narcissistic if you're told by them
everybody's a winner no not everybody's
a winner
that's like saying everybody's blonde
there's a definition of what blonde is
blonde is like this yellowish air so you
lose meaning when you start going and
everybody's blonde
well everybody doesn't win and the
sooner you wake up to that that biology
is ruthless man then you get a little
fear in and when you get a little fear
in you you start listening this is the
truly afraid you listen let a little
fear come in and Drive you and motivate
you now what when I was about Arnon
early 20s I was in Mississippi with
these five mentors guy Allen nation
Gary Townsend dr. Gordon Hazzard all
these guys I really looked up to there
were like 60 years old and there were
the people like the only millionaires
I'd ever met I didn't grow up I was born
in Long Beach Compton kind of area never
was around anybody who would make 100
grand so I meet these guys they're like
come we're going on a hunting trip in
Mississippi I go down there and you know
were these lodges and cabins and then
we're having hot dogs over the fire and
they start drinking a little bit they
were normally nice you know kind of
southerners and they kind of got me
they're like so what do you want to do
man and I was like I want to be an
entrepreneur and like oh really then
they go what is IRR mean and I was like
I have no idea it means a but I didn't
know that it meant internal rate of
return right so one of them just goes
you know you're never gonna amount to
anything there's zero chance you ever be
a successful entrepreneur they all act
and I was like I don't cry
I probably his last time I gotten close
to crime wasn't that I was just like
devastated but you know what I remember
laying in bed that night going no one
will ever make fun of me again for not
knowing about finance so I became a CFP
a certified financial planner to this
day I can hold my own around the most
powerful businessman in the world number
three admit you're lost the day you
admit you're lost is the day you allow
yourself to be found by people who can
give you a tip but what's what's the
equivalent of that because obviously if
you're an entrepreneur nobody's looking
for you so that's though they are though
who is they are dirt you go to Barnes &
Noble people sell in their books they're
looking for you as a customer so read
read the that people argue with me
on this reading thing and people argue
with me about Mentors no just use your
own gut feeling is that how you learn
English when you were 2 years old you
use your gut feeling to start
conjugating verbs no you learn from
other people you learn manners you learn
language you learn all things valuable
you learn to drive from another person
so it doesn't it make sense you learn
life so books are just the mentors who
you maybe are dead now you all are about
Steve Jobs and alive to teach you but
you can learn through accumulated wisdom
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