Lesson 11 - 20 | Hustlers University

Outsource cheaply Right, hustlers. University straight into a .11 outsource cheaply. If there's something you cannot do and you need someone to do it, you need to outsource cheaply. You can either find a student, as I've discussed earlier, finding a niece, nephew, blah blah blah, or find students. Students are fantastic because students need work to do for their fucking projects or whatever. Let's say you need a video Find a find a film student. They'll do it cheaper than a film company find. Speaker 2 Students or use. Speaker 1 Fiber outsource cheaply and never. The .11 is never. Speaker 2 Hire. Speaker 1 If you can avoid it, please do. Don't hire another company to do your work. So as a company. As a company, you want to be here at the top Let me remove my beautiful diagram. Speaker 1 As a hustler, so I'm not trying to teach you how to be ACEO. I'm teaching you how to make 5 or $6 million a year so you can buy super cars and enjoy your life. As a hustler, you want to be here at the top, That's. Speaker 2 Me. Wait. Maybe there's some muscles. There we go. Speaker 1 That's me with. Speaker 2 The big arms with G. Speaker 1 That's me. I'm the hustler. I'm the CEO underneath me. You might have to have one company. Let's say I develop an app. I need an app development company, but if I can help it, I'll hire a student to make my app. Ideally you want individuals below you. You want this person who's your assistant, This person is your sales, this person does your app development or whatever and. Speaker 2 It's all people. Speaker 1 Maybe you will need a. Speaker 2 Company below you to do something. Speaker 1 So let's let's let's make this specific. Let's say I have a app company and then let's say this person is. These are all people that do different things. Sales, sales, assistant sales. My relationship with the people is always going to be better and cheaper than my relationship with the company, because a company is not interested in making new rich, and I know you think the people aren't either. Speaker 2 But bear with me. Speaker 1 A company is interested in making it self rich. They're very different things. So if I have a must take on examples of website, if I need a new website and I tell a person who works for me to make that website, me and the person have a personal vested interest in such website, I can discuss with him personally, we can get it done. If I hire a company to make my website, it gets added to the list of work and then this company thinks, how can we get more websites? Do you understand where I'm coming from? The person who's tasked with the website has one job make my website. The company who's tasked with the website has two jobs. Make the website and find more people who need websites. They need to do 2 things, and if they're smart, and some of them are, if they had to choose between delivering your website on time or taking on more work and taking more money, they'll take the money. Their primary focus is not your site. Their primary focus is generating money. Do you understand these? There's a huge difference. This person's primary focus is completing his job for his boss. This person's primary focus is not completing the job for the boss, it's getting more money from somewhere else. Has nothing to do with you. Fair enough. They may have more people in different departments, blah blah, blah, but that's still the primary goals of the individual, the primary goal of the individual and the primary goal of the company, Plus the company's more expensive. So you want to try and outsource cheaply. You want to have individuals you work with. Now, if an individual has a company, fine, that's still an individual. When someone goes, I'm me and I have my company. I see that as an individual. I don't see big companies as as people I want to work with. If I want a website, I don't want to go into some office full of people making websites. I don't like that. I've. I've never had a positive. Speaker 2 Experience of that it's always expensive. Speaker 1 They always have other jobs and other things to do. Their primary goal is making money. They they don't really give a shit about you. Now if you need something very specific and personalized and you need a really big company, OK, do it. But in most cases you don't try and work with people and try and outsource cheaply and try new students. This is number 11. #11 - Find students Nearly anything you need done, a student can do. You can find students and students are drum roll. Speaker 2 Broke. Speaker 1 Which means they work cheap, fine students. If you don't know how to do something, find a student who know, doesn't know how to do it. Try and avoid going to companies. Companies have a different objective than keeping you happy. If you have good staff under you, you become like a team, You become like family. Everyone wants to work together, Everyone wants everything to work. If you're a good leader, your staff genuinely want everything to work and you're and you genuinely want your staff to be happy. It's a happy medium. Everyone wants success. This company, it doesn't really give a fuck if your company fails. If you've paid the invoice, they don't give a shit. You've paid the invoice. They have to deliver a website, whatever. They've got ten other people to make websites for. Oh, your company fucked up. Big whoop. Work with people with vested interests. Students, young people. Try and outsource cheap. Try and avoid hiring another company to do anything as as a hustler you want to have you at the top, individuals you can trust below you, and that is the happiest company structure. You don't want to be working with lots of companies. I know guys are trying to start businesses, They hire a website company, they hire an accountancy firm, they hire this and I was like all it is, is you at the top, company below you, company below you, company below you, all trying to send you invoices and suck you dry. It's bullshit. Don't do that. You won't get rich very quickly doing that, Trust me. Speaker 2 .12. Spend Money I've said this already. I'm going to say it again. I've been over this. Speaker 2 But I'm going to stress it. Speaker 1 Like I said, some of these points are going to overlap a little bit because of the way I explain things off the top of my head. Because I'm a fucking. Speaker 2 Genius. I don't need to. Speaker 1 Sit there and script this out. Speaker 2 You. Speaker 1 Can't fuck up if you don't spend money. This is key. It's very hard to fuck up if you don't spend money now if you have a very. Speaker 2 Successful business and you're sitting on lots of money and you don't upgrade your business and then you go out of business. That's a fuck up. You should have spent money. Yes, if you're a Blockbuster and you are sitting waiting for you to rent videos and you didn't invest in a streaming service like Netflix and you go out of business, yeah, you fucked up. You should have spent money but at the beginning of a company as a. Speaker 1 Hustler if you don't spend money it's very hard to fuck up. 99% of business fuck ups are I spent cash and I can't get it back. I spent cash and I lost it. I spent cash and now I don't have enough cash. If you don't spend it's very difficult to fuck up and This is why being broke is so liberating. I was happier starting businesses when I was broke. If you're watching this and you're broke and you're living at home with your mum, you are lucky if everything goes wrong. You still have somewhere to sleep. You're still going to eat. You don't worry about mortgage payment, you don't worry about car payment. If everything fucks up, you're still OK. If you're in a position where you're semi successful, you have BMW in an apartment now you can't afford to fuck up. You're going to lose everything. This is the point. So if you're not successful, things are even better. But spending money is the easiest way to go wrong. If you don't blow money, it's very hard to fuck up. And that's why we go back to the way I teach you to start businesses for nearly for free. Don't spend money. If you're going to spend money, spend on what you spend it on here. Knowledge, information. I'm going to save you thousands, hundreds of thousands for what you got this course for. But in general, I see people, and they're so happy to spend money. Don't spend your money because it's very hard to fuck up if you're not spending money. If you've got a hustle, doesn't matter what it is, and it's bringing money in. Yeah, and you're not spending money all the time. You'll be OK. No, I'm not saying be tight. I'm not saying don't invest. I'm not saying be stingy. I'm not saying any of that. I'm saying be careful and think, do I need to spend this money right now? And when you were to decide if you're going to spend money or not, the question is, is it going to make me more money? So let's take our makeup brand. You have your makeup brand. I chose makeup because I don't know anything about makeup. Speaker 2 Because I'm a man, so it's just a general thing. Speaker 1 You have your makeup brand. You have your website, you're doing some advertising, you've got a few Youtubers make up Youtubers using your products, and you're doing some advertising. You're bringing in money, right? You're bringing in money right now. You're all working from home, You're from home. You got boxes around your bedroom, You're working on a laptop, You're making money. Now you have some money you can spend. How do you spend that money? I'm asking you. I already know the answer. The answer is you spend the money in a way that will bring more money in. So let's say you're semi successful. Now you may sit and think, well I want, I want an office now I need to get an office. No, you want an office. You don't need an office. You're making money without an office. Setting up an office, is that going to bring in more orders? How will you be in, how is you being in an office when the websites exactly the same going to bring in more orders? It's not, it's not going to change anything. If you spend that money on more Youtubers talking about your products, you'll bring in more money. Only spend money if it's going to directly if you can see the clear path to how it's going to lead to more money in or don't spend it. Too many people fuck up because they just go, Oh yeah, let me invest in oh I need an office or we need AI. Have this all the time with people all the time. I get approached through this all the time. You need a back end. Speaker 2 Fucking back end. Speaker 1 All the time you need to spend. I go. It's only two days ago, €15,000. He wanted to build me this super back end because I have the war Room which is all run on Telegram and all this bots. So when someone buys a product, automatically links to their telegram ID, automatically adds them in and out the war room, checks what other products they have, links them into the right rooms in the war room, blah blah blah blah blah. And I'm sitting there going, OK, I see how that would be useful A. Speaker 2 Huge. Speaker 1 Very complicated technical back end, but I don't see how that's going to bring more people in the front. I'm a millionaire. Do you want 15 grand? Which is nothing. I don't see how me having all this fancy shit behind my website at this current stage. Maybe at later date is going to make more people buy from my website. So why do I need it? All I need is people to buy. I don't need this back end fucking back end, This big huge back end for money that may speed up things once they've already purchased. But right now I'm doing everything manually with staff and the staff are competent and it's getting done. It's fine. So why do I need to spend this money? It goes against my business principles. When someone explains to me how this back end will convince more people at the front end to buy, then I'll be interested. But until then, if I'm going to spend 15 grand, I'm going to spend it on bringing more people in the front door. Now if I get overloaded and there's no possible way I can deliver on my products, I'll buy a back end. But until that happens, I am only interested in one thing. Money in what's the other. Lesson 3: What's a Business? Lessons I taught you in the first two, the 1st 10 lessons. One of the lessons was what? What's a business? A business is this. This is a business. This is a website. Ain't a business. Money in the bank ain't a business. A back end ain't a business. The only thing that's a business is this orders coming in. That is a business. The rest of it is bullshit fulfillment. This is your focus. As long as you have this, you will be OK T2 succeeded for a year and it would have been for many years because of this. As long as you have this, nothing will go wrong. If this goes, you're fucked. You can have the best website, the best cash reserves, and the best back end in the world. If no one's ordering, you're going to go out of business. If you have lots of orders, no cash reserves, and no back end, but people are buying and buying and buying, you've got a business. This is it. This is your focus. If you're going to spend money, it has to directly lead to this. Don't fall for the geek shit, especially with the war room. I've had some people come at me and go, oh, and it's going to be a programming, it's going to be a geek shit programming, blah blah blah, and you're able to see everything very interesting. I understand why that sounds like something I need, but I don't see how it's going to convince more people to join the war room. People join the war room because I'm me and I give value. That's why they join the war room. And manually, I make sure everyone ends up where they need to be and it's fine. You could argue that this might speed things up, and that's going to go back to #1 speed. There's going to speed things up, give my staff more time, but I already do my staff time equation member staff time saving. I'm very happy with the amount of time that's being saved, the amount of money each number of staff making me. I have a good equation right now for my staff that doesn't need adjusting. My staff were all fantastic. Everyone I work with is G, so I don't need to invest a bunch of money. Plus, there's probably a bunch of teething problems and not work properly anyway. So the point is, if you're going to spend money, be careful. If you're going to spend money, you need to see a clear link to how it's going to bring more money in. Nothing else. This is your business. Nothing else is your business. The rest is bullshit .13. The biggest mistake I made with T2 And this is fucking important. And this is the biggest mistake I made with T2. Businesses won't last forever. I know you think your business will last forever, but it won't. And if a business won't last forever, you need to get rich quick and put yourself before your business. The biggest mistake I made with T2 is I was so desperate trying to keep it afloat that I wasn't taking any of my own money. I bought a new car and I gave myself a little bit of money, but if I could go back in time I would have milked that cow. I had money in the bank, but to keep it surviving, I didn't want to take so much money. I had to keep Dan's coke habit down. So I reduced the amount of wages we were taking, kept it low. So when it all blew up I wasn't sitting on any money. I kept the company alive at the expense of me if I can go back in time. By the time it all blew up, I'd be sitting on half a mill clean. Look after yourself 1st and this is very very important because no business lasts forever, Doesn't matter what the business is. Even my TV advertising business that worked 13 years ago would never work today. Calling people on the phone trying to convince them out of money when they can just get a YouTube for £500. Speaker 2 With more viewership. Speaker 1 And they can track the clicks and directly see how much money they're getting back. But you can't do with TVI could never sell TV to someone today. Never. This is before Instagram, before social media, before YouTube. All this came along and killed TV. Now. Now there's a few big brands left. Netflix. Who even watches TV? That business wouldn't last anymore. I bet if you told blacksmiths 200 years ago that being a blacksmith ain't going to ever work again, they'll be like what? People always need metal. What you talking about? Blacksmiths don't aren't around anymore. Every single business is going to fail sooner or later. The point of a business is to make you rich So if it's going to fail, make sure you get that money before it blows up. I have no problem with any one of my businesses going boom if it's already paid me. If all my Cam girls quit. But I have 3 mil. Good. If I've taken all that three mil and invested it in a big studio and reinvested all the money and made everything nice and then they all quit, then what was the fucking point? The goal of a business is to make you rich. This is the point of your business, to make you rich. The point of a business is not to have a business for vanity. The point of the business is to make you rich. Look after yourself first. Now obviously this is an equation. I'm not saying only look after yourself to look after your business. I'm saying take this in mind, keep it as a happy equation and make sure you're getting that money. With T2, I made a mistake and I kept funneling all the money back into keeping the ship afloat. It's my ship, the T2 ship on the waves, and I didn't take enough of the money for myself. Kept investing in new staff, new computers. Dumb shit. I was 20. All the lessons I'm telling you now are lessons I've learned. If I would have just taken the money. You know what? Get deal in. All right. Yeah, well, keep it going. Yeah. Just take the money. Take the money. Take the money, Take the money. By the time it blew up, I would have been sitting on 500 fucking grand and I didn't. You have to look after yourself. A business won't last forever. So you have to take the money and get rich. Look after yourself. If you're thinking about all maybe I need a new camera. Maybe I need a new car, maybe I need new vans. Whatever your business is doesn't matter. Think about it. But also think long and heavy. Is that going to bring new money in? Let's look at video production business. Just come to my head. You a video production business. You're filming in 4K. You want this new camera? It's still 4K, but it does all these extra features. Does the layman understand it? Not really. If you can go to a meeting and tell him you're going to film in 4K, it's the same. That camera is 20 grand. I don't know. I don't know. Speaker 2 I'm just off the top, man. I don't know about. Speaker 1 Cameras. Do you spend the money on that camera or do you just pocket the 20 grand? Tell you what you do, You pocket the 20 grand because it's not going to get you any more clients. It's still 4K. You can just lie in the meetings and pretend your camera can do what that camera can do. You're not going to lose or make any more business. Get the fuck it. Take the 20 grand. It ain't going to add money in directly, so you don't need it. You need to be getting rich from your company. Look after yourself first because when your company fucks up you need to be able to say, OK, abandoned ship, abandoned ship with fucking suitcases don't abandoned. When I abandoned T2 I had nothing and that was a mistake. I worked my ass off sleepless nights. Millions of dollars to the bank for nothing. Don't do that. Look after yourself first. This is .13. A business won't last forever. You need to get rich quick and you need to take the money. Take the money for yourself. Don't run a business for vanity. Look after yourself. Get that money and keep it. If you have to choose between you and the company most of the time you should be choosing you. It's a obviously it's a balance. You need to make sure companies looked after. You need to reinvest in your company. Blah blah of. Speaker 2 Course, but still. Speaker 1 You are the primary focus of your universe. Everything serves you, including your company. That's .13. Don't make the mistake I made with T2, putting it all back in and not look after yourself. There's a reason why you can actually put this in the course. Look him up. Sir Philip Green with BHS Billionaire bought BHS, which is a big clothing store in England. Saw it was failing, took billions and billions for himself. Let it fail, let everyone's pensions go under, let it sink once he realised, you know what? What do I do here? Do I? Do I just make millions and billions? Speaker 2 For myself? Or do I save this company? Nah. For me, he actually lost his Lordship for it because they thought it was such an evil thing to do because like 1000, like 10,000 old ladies lost their pensions who'd worked there for like 40 years. Pretty evil. Speaker 1 But the point is the same. As a billionaire, he understood me first, company 2nd, so he milked it. I was another company, was a toy store and they ran up until Christmas Day and they took all the money for Christmas. No, it was a catalogue. Remember the catalogue? There was this Chris. No, there was this Christmas catalogues. I can't remember. There's this Christmas catalogues and you pay every month and you build up this balance and then before Christmas you can order all your presents and all your food from the catalogue. And they ran up until Christmas Day and then they closed, took millions and didn't deliver anything. Ruined everyone's Christmases. I remember it was big in the news in England. They ruined some like 10,000 families, Christmases because they couldn't afforded Christmas anymore. But the managing director, because managing director ended up going to court, but he still got away because it was legal. He took 7 million. He looked at his business and goes, you know what? I don't think this is sustainable anymore. I'm not going to put any more money into this. I'm going to take 7,000,000 lbs. I'm going to fuck it off. I'm going to deal with the big PR disaster, I'm going to go hiding and whatever. I've got 7 million. You looked after himself first. If you would have put that sudden mill back in, the company would have gone bust. A year and a half later and you have no money. Look after yourself first. Be ruthless with it. Take the money for you. There's no point in going through this stress for any other reason. So Sir Philip Green, look him up, he did it with BHS. And you can also Google Christmas catalogue bankruptcy and you'll see both of these people. Both times managing directors took their money. Same thing with the big banks. When the big banks went bust, all the banking directors, you think they didn't take big money. When the big banks all fucked up, you think they didn't take their big bonuses. First, the smart people know look after yourself. First, look after the business. Second, the smart people know that because as long as you're financially OK, as long as your bills are paid, your mortgage is paid, and you have money. Speaker 2 Everything's going to be all right. Tate has. Speaker 3 Just launched his private mentorship program TRW, where he mentors ambitious people who want to become rich and powerful. If you want to be a part of the program, DM the real world elites on Instagram and type TRW as your opening message and we will get back to you in under 5 minutes. Speaker 1 Right #14. #14 Reputation control Reputation control. I get lots of questions of people and say, well, what about, you know, my reputation? People are saying bad things. Etcetera, etcetera. To control your reputation is very, very simple. You need to do more good than bad. You're never going to have people 100% happy, but as long as in general you do more good than bad, you'll be OK. Also, you'll find that people don't often really go out of their way to slander you unless you've really, really pissed them off. And one of the easiest ways to piss people off is to ignore them. So. Speaker 1 In business, no matter. Speaker 2 How bad things are going? You never ignore them, even if they're blowing up your e-mail and messaging you. Don't stop. I'm unhappy. I'm unhappy. I'm unhappy. Try and find a solution. People only get worse and they only get better if they're ignored. Because if they're emailing you. Speaker 1 Then they're not. Speaker 2 Writing all over blogs and forums and making their complaints public. They're complaining directly to you, which means you can manage it. Speaker 1 So this is. Speaker 2 Another very important thing about business, everything I've taught you so far. You you obviously see there was some struggles along the way and I learnt the most important thing you can do to manage your reputation is to take all the criticism personally so they can't spend the criticism anywhere else. Take criticism personally So someone has any kind of problem, contact them, said hey you got a problem, let's talk about it, see if we can work something out, blah blah blah. Even if they're a complete, unreasonable idiot, if you completely, if you continue to e-mail them back and forth and let them vent a little, they're very unlikely to continue to just spread crap all over the Internet. That's the one we live in now. It's easy to find customers with the Internet. It's easy to lose customers with the Internet. So for reputation control, make sure you're prepared to speak to people even when they're being Dicks. That's point 14.15. And this is very, very important. This is going to be a major way you should change your thinking in regards to business. Change the way you think about money So you've learnt a lot of things so far and you're about to learn something else. So I think I've mentioned this before on Twitter, but if you missed it, this is very, very, very important. You have to change the way you think about money, and you're going to change the way you think about money by only thinking about money all of the time. So I'll give you an example, 99.9% of people who go in a coffee shop, go in a coffee shop and buy coffee and sit down. If I go in a coffee shop, I go in, I look at the prices of the coffee. I look at how busy the place is. I buy my coffee and I sit down And then I think if I had to run this business, would I make money? Could is there a way I could run this business and make more money? How much do I think the rent is in this establishment? How much are these coffees? How busy is it here? Do they sell cakes and sandwiches to make extra revenue? Who are the main customers? Was mainly businessmen. I can see there must be a business district across the road. Why are the waitresses? Or why the people who work here not hot young girls to attract more men to come and invest the main customer? Think outside the box and look. If I were to open a coffee shop right next door, could I beat them? Are these coffees expensive? Are they cheap? Are they good? You have to start looking at every single business you interact with, every single one, and see how you would compete with them or if you had to run their business, if you believe you'd make a profit. Because what you'll often find is you'll see there's a lot of people making mistakes and you think you could probably do better and you might be able to beat them. So you need to sit, and when you're going through your normal life, you're having your coffee, you're sitting in fucking * Cox. Whatever. Obviously competing with a multinational like that it's very difficult. But any business you interact with, just start training your mind to view their business, how you believe it works. Everything from rent overheads, the product, the profit margin, whether you think you could sell more, any tips or tricks, or missing everything from start to finish. Just have a look and see if you can work it out. You'll be surprised how much you learn about business self-taught. I do it with every bar I'm in, every restaurant I'm in, every coffee shop I go in, everything. Even simple things like even things I know nothing about, like a mechanics. I don't know anything about fixing cars. Still, I look at the amount of cars they have around. I look at how much they charge me for my time, how much the labour is, how much I think they're charging the low level workers. Where's the big boss? How much is he making? You need to start thinking about money and thinking about businesses like this. Every time you interact with one you need to analyse it and your analysis will get better and it'll get more precise. Obviously there's some information you don't know. You don't know exactly what the rent is, you can estimate it. You should be able to estimate it. So this is one of the really important mind hack I teach anyone who wants to get serious about hustle and making money. You need to start approaching and looking at all businesses this way. Because what's going to happen is when you eventually open your own business, there's going to be some lessons that you identified, some mistakes you identified in the previous businesses that you're going to make sure you don't make. Whether you're opening a coffee shop or an online company, it doesn't matter what it is, You're going to identify the mistakes and you're going to change them. So even next time you buy something online, you buy something online. Most websites nowadays are extremely streamlined. But still, if you identify a problem with the website, if you identify a problem with the e-mail, that comes afterwards, if you're unhappy with a particular aspect of customer support, if you don't like the packaging, it comes in, whatever, Analyse everything and remember everything, because you're going to use this stuff for your new company. Mind Hack #16: Identify the mistakes So this is a very important mind hack. This is something you need to do permanently as a matter of habit. So what rich people do when they're sitting around money being made or they're sitting around money being exchanged. Because money is never made. Money is only exchanged. When they're sitting around and they see money being exchanged. They work out exactly how and why and who's benefiting. So this is something you need to start doing as a matter of habit. It's extremely important, right? #16. If you're working a job, you need to identify all the ways in which you can do your job better. A lot of people work their jobs, and they don't try very hard. We've discussed this already about how lazy employees are. If you're an employee right now, you're probably lazy. So you're working your job. You're not trying your best. Make a list of all the ways you could improve how you do your job. You can work faster, You can make more phone calls. You could care more XYZ. You could do the entire 9 hours without super long bathroom breaks where you disappear to sit on your phone, whatever. Whatever. Make a list of all the ways you can improve the way you do your job. Then ask yourself why you don't do it. Why don't you work at 100% of your capacity? And the main reason is probably going to be because you're not incentivised to do so. I don't know about your job, obviously this is the Hustlers University. We're going to teach you how to make money outside of your job. But if you're in a job right now and the fastest way you can do to get pay, rise or increase your money is literally to sit there and think, I need XYZ to be incentivised to do this job properly. I think you'll be surprised how often you can go into your managing director or your, especially for smaller companies, your boss's office and say look, here's the deal I want to do XYZXYZXYZI, think it's going to make us a lot of money. I just want to say if I'm right and it pulls off, let me prove myself first, let me make the money first. But if the money starts rolling in, I just want to be rewarded for it. They'll say, oh okay, they'll call your bluff because you're promised some money. When you go in there and you say that all you've done is saying, look, I want to make you some money, you say that to them, let the money start coming in and they'll often reward you for it. If you're not doing your job to the best of your ability, then you need to be doing something else. And if you're not doing the job to the best of your ability, you need to be using that time to start something on the side. So my work history, as you tell, is very varied. For a long period of time I worked, when I say long, about a year, I worked for a company called N2N2, sold, sold web advertising. It's sold. Advertising, websites, SEO, Google Adwords, all that kind of thing. So we would call up companies convincing they need a new website or they need SEO or Google Adwords or hosting, blah blah blah. So very. It was like an online advertising agency. This is a few years ago, at the same time I was working there. This is the this is the company. When I read Wikipedia 3 three days a week at the same time I was working there, I was pissed off that I wasn't a business owner anymore. I kept remembering T2 and all the mistakes I made at T2, and I wanted to start a television advertising agency again. But I couldn't afford to quit this job. And I also knew that it was going to be very, very hard to sell television advertising like I did a few years before, because this was when I was selling it. Before it was just before the big credit crunch. Remember that? Now we're in the height of the credit crunch, so it's going to be very difficult to get money out of people. So I decided to start a company anyway. I started a television advertising company called Vixels. I I looked at the word pixels, I changed AP to AV. Doesn't make any sense. Pixels, television advertising. And what I would do is my brother would pitch television from home and I would still work my normal job. And in between not doing any work at my normal job I'd provide leads and fulfill leads etcetera, etcetera. So not only am I working with normal job, I'm also have I had another company on the side at the same time. And what was good about this is if I went to a company to give them a website, and it's a particularly big company and a company I think could afford TV, then I pitched them for Vixels on the side. I'll call, I'll tell Tristan to call them and pitch them. So simultaneously is doing my job. I was running another company. Now Vixels never really took off. I landed three or four deals. I maybe did 2300 grand, which isn't a lot of money to me now, but two or 300 grand is a lot of money to most people in a year of a company. So instead of just sitting at my job doing absolutely nothing, I was doing a lot of nothing. I was, what, reading Wikipedia. But I was also doing as much as I could for my own company on the side. So if you have a if you have a job right now, don't quit your job. People say to me all the time, oh, I need to quit my job. No, you don't. You don't need to quit your job. I guarantee there's enough time in the day for you to work your job and work your side hustle. Guaranteed because you're lazy and you don't do shit at your job anyway. You have all the time you need to continue with your job. Get your side hustle rolling. When your Ross Hustle's rolling and you know the money's coming in, then quit. You don't need to quit your job at the same time. So people say it to me all the time. Well, should I quit my job? And the answer is often no. You don't need to quit your job until you've been through and you've sorted out all the things you've already been over so far in this university. Is money coming in? Why would you quit your job? Is money coming in Yes or no? No. Well then why would you quit your job? I showed you already how easy it is to get money flowing in. Get the site online. Bang, Bang, bang. Get the money in even if none of the fulfilment is ready. So if money is not coming in, you don't need to quit your job. No, you need to do everything at the same time. You can get money rolling in first before you consider ducking out of a job, sitting around at home and being broke. So that's a very important key thing about jobs. Got to get asked that all the time. Next point, this is very important one people. People do not buy on price I'm going to make this very, very clear. People do not buy on price. You do not want to compete on price for whatever company you're going to run. You do not want to compete on price. T2 competed on price and OK, it lasted a while because of speed, but even nowadays that would be much harder to do. And I'll tell you why. The people who compete on price are going to be you. So if you go to Amazon.com and look at the phone cases for $0.89 for the case and delivery and it's coming all the way from fucking China, how, How do they make money on that? Do you? I don't have a clue. But they managed to pull it off. There's too much Southeast Asian and Asian production now. Everyone's producing everything so cheap. There's no way you're going to win on price. You need to sell on brand here in the West, living where we live, that's our advantage. We have the whole idea of branding and quality and reputation that these are the things you need to sell on. You do not want to sell on price. You don't want to price people out the market. But when you're sitting there looking at your prices, you don't want to sit there and go, well, you know, I want to make it really affordable. I really have never, never experienced that. So you joined my university. This is, I don't know if you joined at half price for 999 or you joined at the full price, whatever. I could have done this cheaper, but why would I do it cheaper? This is the value. The value here is everything. I'm saying this is how much it should cost. So you can't just be looking to sell things as cheap as possible. I see a lot of guys, especially the Twitter gurus, loads of them are selling ebooks for like $17.00 or $13. How are the fuck are you going to get rich off $17.00 ebooks? You're not. So if that's the only price people will buy from you at then that shows your brand has no strength, no reputation, because you had genuine strength and reputation you can sell at real price. So where your price point lies says a lot about who you are as a person. Do you want to be fucking Lambo? I'll write Lambo down, so I like that word. Or do you want to be bullshit? This is where all the ebooks, the little ebooks are. This is where I am. Why can I sell more than them? Why can I sell for a much higher margin, a much higher price? Because I have a reputation and I provide a better quality product. So when you're looking for whatever you're going to do, whatever you're going to launch, when you start putting prices out there, if you put it up high and you're not selling and you find yourself really reducing the price to try and get sales, that says a lot about who your reputation is. You need to do some reputation management. You need to build your reputation. Build your credibility builds on the point that you're an expert in your field and as you do that, your price will increase. That's the easiest way to make more money because there's only certain amount of customers in the world. Let's say there's only there's only 100 in cells who are going to buy a book about how to fuck. Today. There's only 100 of them. That's the only people on Twitter are going to buy a book about how to fuck today. So the. Speaker 1 Easiest way to make more money? Speaker 2 Is to charge this 100 people more money instead of trying to find more people. Especially with Twitter, because if you're selling on Twitter, Twitter following doesn't grow that fast. Your Twitter followers may not be that big and if it even it is, let's say amount of 30,000, they don't grow very quickly. You get shadow man takes a long long time so you only have certain amount of potential customers, so you want each one to spend as much money as possible. This is the reality of the game. So if you're selling shit cheap like a lot of these Twitter guys do, that's because they're cheap and they're lame. They're lame. Never sell on price. Also, you'll have more problems and more complaints from people who buy cheap things and people who buy expensive things. And the reason is because the people who buy expensive things are getting Lambo quality like you're getting here. All the information I'm giving you. The people who buy the cheap things, they're just buying it because it's so cheap. They don't believe in the person. They're just like, oh what's the worst I can do? I'm only losing 13 bucks, but then they'll still feel pissed off when they realise it's garbage. So your number one goal, your number one aim in whatever business you do is to constantly be increasing prices. You need to be looking to constantly increase the price. And the way you do that is by constantly building on your reputation. That is how it goes. Even if you have to start off with a lower price, you need to always increase the price. You should never get to a point where you've priced yourself out. People don't buy on price. People buy what they want. If people want something, they're going to buy it. There's a whole bunch of expensive shit that people buy, trust me, because they want it. So you have to make sure that people want your product. Do not be one of those. Well, I'm the cheapest on the market, guys, because that never works well. It gives you a bunch of Dick head customers and it stops you making any kind of serious money. It's bullshit. Don't do it. Speaker 3 Tate has just launched his private mentorship program TRW, where he mentors ambitious people who want to become rich and powerful. If you want to be a part of the program, DM the real world elites on Instagram and type TRW as your opening message and we will get back to you in under 5 minutes. Speaker 2 Next, you need to learn to shut up and listen. Learn to Shut Up and Listen This is a really important point for business. Super important because it's something I see a lot of people make mistakes with. I'm going to destroy my beautiful diagram here, right? Most people, once they start a business, won't shut the fuck up about their business. I know so many people who are making money, and yeah, they're making money, but as soon as you start talking about money, all they talk about is how they make money, their business, how smart they are, ego, investment, how great they are. That is not going to teach you anything. You only learn by listening. So whenever I'm around people who are making money, I don't talk about money. I mean, it's different if they're friends of mine. I've known them for a long time. We're interacting. But I mean, if I'm meeting people and their businessmen and everyone's talking about how they're making money, I shut the fuck up and I listen. Because anyone who's making money one way or another knows something you don't know. There's a lesson everywhere. So when you interact with someone who's rich, you have to say enough to convince him to talk, but don't talk too much yourself. The more you talk about your own business and how you do things, the more time you've wasted. You already know your own business. You already know how you do things. Maybe if you're asking him directly for feedback, yeah, I do this. What do you think of this? But if you're bragging, I blah blah and I'm this and I turn over this da da, You're just wasting time. Let other people talk. Learn from other people who are making money, even if they're in an industry which is completely different to yours. It doesn't make a difference. Shut up and listen because somebody knows something. Even Dan, who I ran T2 with, Dan was a crackhead. Dan taught me shit loads about advertising and shit loads about sales. He taught me loads of things. This guy's got a fucking coke problem. He's out of his mind and he taught me things. There's nobody you cannot learn from. You can learn from anybody who understands anything about either sales or making money. So be prepared to shut the fuck up when you interact with these people and sit and listen and. Speaker 1 Adopt it. Be super. Speaker 2 Prepared next I'll tell you another little thing we did at T2 actually because something just came to my mind. We had T2 and we had another company called Angel. I was such I was 20, I was a Dick. I don't know why I called that Angel TV. So we had another company called Angel TV and what we do is we'd pitch TV companies as normal and if we ever had a company which was really close to doing it but for some reason just wouldn't go across over the edge, wouldn't buy, then we'd call them up and pitch them from Angel for a tiny bit of a discount. So let's say we're pitching someone at 19 grand. We're trying to get them, we're trying to get them trying to get them. They won't do it. Then we call them up from Angel and say hi, we have a one time special offer, 18,000 and try and close them that way even though there's no profit in it. But the point is that's another little thing you consider another little business tip. If you have a company like that, if you have a partner, a business partner or you have some members of staff that they perhaps wouldn't interact with if they're talking to you in the initial organization. If you're really trying to get this order and you just can't get it in, you can always try and pitch at some other company and take the business that way. I know a lot of people who are doing that. I won't say who, and lots of different industries who are coming along, trying to close the business, closing a lot. But those stubborn motherfuckers are coming along with another company scooping them up. Keep that in mind. Something else you can write down and think about. We'll come back to Angel later on in your university curriculum. Next attention is free advertising, so you need to get good at getting some attention. Attention is free advertising Somehow. I get attention because I'm the dawn. You need to find a way to get attention because all advertising is is buying attention, which is fine, but buying attention is more expensive than getting attention for free. And when I say for free, I mean free financially. To getting attention is still going to take time with your money. But you need to find a way to get attention. I think you already understand this. You already understand viral marketing. No such thing as bad press blah blah blah but. Speaker 1 Finding a way to get attention is a fantastic way. Speaker 2 To start generating money. Now what most people do is you see a lot of people, they find ways to get attention, but they don't monetize it. So for this, I'm going to put in an example of my Star Wars thread. I want you. We're going to start putting on the screen. Now. When you look at my Star Wars thread, I said something that pissed off the nerds. You can see I pissed off the nerds starting to go viral, starting to get traction. And for every single tweet afterwards, all I'm trying to do is promote my website. I'm doing it in a funny way. I'm doing it in a way that annoys them. I'm doing it in a way that's going to get some interaction, but I'm still trying to promote my website from start to finish. That is the end goal. Get attention and then do not be afraid to shamelessly sell, sell, sell. But you have to find a way to get some attention first. Now, that's not easy in the modern world, because everybody's vying for each other's attention. Especially on the Internet, everyone is competing for attention. But attention is key, so finding a way to do it is important. I know a guy. I had a guy who had a This is the most simple, stupid example, but it's true. He had a it's one of these guys in Romania and they wrap cars and they're in an industrial state. And he painted the entire side of his wall with a huge mural, like a spray paint mural of a car being wrapped. And I said to him that was bad ass. How much should it cost you? Because it cost me 3000. But it's increased my business big time. I've made all my money back big time. I was like, why it goes. People look at it when they drive past them and they want to. They see it's artistic, it's creative. And they want to work with us. You got attention. You fucking painted his wall. But anything it takes to get attention if you have a sign on your company is to sign big and bright and bold enough. Probably not. There's no such thing as bad attention. The world we live in now, we live in an attention economy. If you have lots of attention, you can turn that into money. If you have no attention, you're not going to have any money. We're in an attention economy. You don't even need good ideas now. YouTube has proved attention economy. You have fucking morons out there doing nothing on vlogs, talking shit and being complete losers, but because people watch it because they get attention, they're millionaires. Attention is the currency of the modern world, so if you're going to start any kind of business, one thing you need to consider is we talked earlier about money in all your money out. This is your only real business, the money in and how you don't want to be investing any of your money and anything that doesn't lead back to here. You can see that bottom one there. But you know what's going to lead to this. You know what's going to increase the number of sales coming in? Attention. Attention is key. Attention is going to accelerate everything. So you need to keep that in mind. Don't be afraid to do things that are a little bit crazy to get people to pay attention to you. Now obviously I'm not saying join ISIS or something stupid to get attention, keep it in mind. But attention is the currency. Attention is the magic formula that the the catalyst that's going to take any company and blow it up fast. So keep that in mind when you're looking to launch a company or you're already running your company. Does my company get enough attention? No. OK, so which which company in my industry does get attention? This one, How do they get it? Or will they pay for advertising or for example, or they did this viral campaign or they sponsored this. How is are the people taking the attention that you want? How can you get the attention? Find a way. If you have to go and run a marathon dressed as a fucking dinosaur with your company name on the back, then go do it. It's effectively free and it's good for you. Don't be lazy. You have to do something to get some attention. Attention is the key. That's going to be the difference between a failed business and a successful business. Even with the Cam girls, people say to me all the time, Cam girls, that's not real business girls just get naked and they just make money. No, that's not true. Girls used to say, oh, what? You just get naked and you get money? No, it's not like that. All making money is a Cam girl is difficult. It's a real business. How many girls are online right now? 100,000 maybe. You're trying to compete with all those titties and pussy. It all looks the same, effectively. Tits and pussy. It's all the same. How do you compete with that? How do you get the? Speaker 1 Attention of men when they have so many choices, they can. Speaker 2 Click, scroll, scroll, scroll through all the titties. So how do you get the attention? So as a Cam girl, with all my Cam girls I was training, we would have meetings. How do we get attention? That's why all these girls do like cosplay and dress up as video game characters that are differentiation, anything it takes to get attention. So the Cam girl industry is completely an attention industry. You have to find a way to get attention. You have to think about it. So with the Cam girls, we did lots and lots of different things. Very small things that made a big difference. Remembered customers names, remember the names of their pets, Paid attention to them, Said hello when they came in the room, called them by their first name so they all felt valued. So they kept coming back to try and build some loyal followers. Make sure that their thumbnail when they broadcasted, they had a little thumbnail. So their thumbnail when they broadcasted was a really hot 1. So they looked good. So people would oh that thumbnail is interesting, click on it, make sure their room was interesting. A few things in the background, basic advertising stuff, but it's all the business of getting attention. Don't forget that. Super, super important, right? Next coming on from the Cam girl thing. Play on people’s insecurities Play on people's insecurities. So I made lots of money with Cam girls and in three days from the filming of this, I'm opening my first casino. People have vices and people have insecurities and if you can find a way to twist them, you're going to make money. People can't help but lose their money in casinos. The house always wins. People like tits and ass and they're desperate to have a hot girl. That's why they talk to Cam girls. So even if you're running a business, which is very traditional, let's say you're running clothing, people like to feel good looking and attractive. You have to twist that angle. You have to put something on the angle so that people go, you know what, I want to be attractive. I want to be good looking. I want to look at this. I want to be seen as important. That's what all these brands do When Porsche and Mercedes, they advertise as a businessman. Mr. Businessman getting in his car has his briefcase. Mr. Business, he's important. You're not important. You're not on the Porsche. You're a nobody. You're a loser. You have to play the people's insecurities. The Cam business was the number one for this. Play the people's insecurities and promise with your product that everything is going to be better. So I'll give an example. So with the Cam girls, guys would come along, The guys were talking. The Cam girls can't really get girls obviously, because otherwise it wouldn't be there. So they can't really get girls. Well, our Cam girl would tell them that they could get girls or that they could get them. So let's say the guy would come along and say, oh, So what kind of what kind of guys do you like? The Cam girl would describe that. Speaker 1 Guy. And this is something I had to. Speaker 2 Train my girls to do because girls are so stupid. So like literally a fat old man would come along and say what kind of guys do you like? And she'd be like young fit Italian men or something dumb. And obviously he'd be like, well, that's not me. So there's not going to be a relationship there, is there. Whereas if a fat old man said what kind of guys do you like? She'd be like, oh, someone mature, someone who's done playing games. Someone who's ready to settle down, I know will value me. All the bullshit that he wants to hear. Sell people what they want, play on their insecurities. They sit there going, Yeah, well, I've, I've been trying to look for a girl like that my whole life. But I just can't find him. Oh, where are you based? If we keep talking, maybe one day we'll meet one year later, two years later. Taking his money, Taking his money, Taking his money. You have to play on people's insecurities and you have to find out exactly what people want. So I don't know what you're going to sell. And it doesn't matter what you're going to sell, what you're going to sell. Why do people want it? I'm right now we're in a university. You guys want it because you want to learn how to make money. That's why. So in all of my advertising and all everything I'm doing, I make it very, very clear to you. You need this to learn how to make money. I know more about business than you. I've run more businesses than you have. If you don't get what I have, if you don't get the Hustlers University, you're not going to know what I know. So you're not going to make money like I make money. I identified the it's the product. We have it here, I identified the reason you're buying it, and I'm pushing it, pushing it, pushing it. So I don't know what you're going to sell. So you're selling fucking protein shakes? I don't know. You don't sell. A lot of people will sell a protein shake, best flavour this much, carbs this much sugar, blah blah blah. Who cares? Speaker 1 It's. Speaker 2 Boring. You're going to sell your protein shake. I'm going to draw a protein shake. I'm going to draw one. It's going to be artistic and beautiful. You're selling protein shakes. You need to say to people you won't be strong without the protein shake. You won't be fit without my product. Why are you wasting your time in the gym when you're not going to get? You're not going to get in good shape anyway. Oh, you'll get in shape, but you'll be in better shape if you use my product. Fuck the product. Who cares what's in the product? Sell a result. You need this. You need this because of XYZ. Doesn't matter if we're selling protein shakes or the Hustles University or motherfucking raspberries. Doesn't matter what it is. You have to push that. Speaker 1 Point over and over and over. Speaker 2 Again, play on people's insecurities. That's what makes people buy, because they're not going to buy otherwise. Oh, I can go to the gym and I'll get in shape and oh do I need more carbs? I don't know. No. Who cares? It's all dork shit. They all geek will care, but most people don't care. You need protein shakes or your gym time is a waste of time. Why are you suffering in the gym for no reason. If you drink this one drink, you're not wasting your time anymore. Stop being a loser. Quickly buy how you have to be. Play on people's insecurities all the time. Speaker 3 Tate has just launched his private mentorship program TRW, where he mentors ambitious people who want to become rich and powerful. If you want to be a part of the program, DM the real world elites on Instagram and type TRW as your opening message and we will get back to you in under 5 minutes.