Full transcript
0:00every one Sam ovens here and in today's
0:02video I want to decode the billionaires
0:05mind and what I want to do is take you
0:08inside the mind of a billionaire and
0:10really show you what it is how it works
0:13and how it is fundamentally different in
0:16pretty much every way shape and form
0:18from the average person's mind now Wyatt
0:23this has been a point of interest for me
0:25is because personally I've been trying
0:27to learn like how to become more
0:30successful and how to function at a
0:32higher level because you know behind
0:35success isn't really magic it's it's
0:38always cause and effect and there are
0:40actions that people have taken in their
0:42life that have had like profound impacts
0:45that have allowed them to become
0:47successful it didn't happen just by
0:49chance it it happened by taking specific
0:51actions now what causes somebody to take
0:54an action is thinking by its analysis
0:58its rationalizing and it's viewing
1:00things and making trade-offs every
1:03single day and the piece of you that is
1:06responsible for that is the mind and so
1:09if we reverse engineer this thing back
1:11you know actions create success thoughts
1:14create actions then the mind creates the
1:17thoughts then you know really what's
1:20lying at the base of success is your
1:23mind and your mental function and how
1:26your mind works and so that's why it's
1:28been a real point of obsession for me to
1:32study billionaires and not just
1:34billionaires but really successful
1:36people in every different field from you
1:38know athletes to musicians to military
1:43leaders to all sorts of different people
1:45from all different eras and to really
1:48pull apart their mind and really decode
1:50their mind and figure out how it worked
1:52and why it enabled them to see things
1:56more clear than the average person and
1:59make better decisions and take better
2:00actions which is how they came to get to
2:04where they are so that's why it's been a
2:06real point of a focus for me to really
2:09study the billionaires mind and really
2:11successful people
2:12so that I could then assemble one of
2:16those mines inside my own mind and so
2:19that's what I've been trying to do for
2:20the past six years and I'm not a
2:23billionaire yet but you know so far I've
2:25been able to go from living in my
2:28parents garage and with zero dollars at
2:31all I didn't even have a college degree
2:33or anything to start in consulting calm
2:37my company and growing it to the point
2:38now where it's making around thirty
2:40million dollars a year and all that
2:41happened in about five six years so you
2:44know I'm by no means billionaire but I
2:47have studied these people's minds a lot
2:50and I've been able to reverse-engineer
2:52it back to specific things that not only
2:55myself but you can do like starting
2:58today so that you can dramatically
3:00improve the decisions that you make the
3:03trade-offs that you make and the actions
3:05that you take every day and that's going
3:08to have an impact on your success in
3:10life and in business or you know
3:12whatever your field is now the reason
3:15why I really wanted to dig into this and
3:17study it is because this thing has
3:19always interested me you know why if you
3:23take one person and you put them into
3:26contact with some information and this
3:30information could be an online course it
3:32could be a university degree it could be
3:34a book it could be anything but let's
3:36say you have a person they come into
3:38contact with information and that
3:41results in like massive success let's
3:44say this person becomes a billionaire
3:45right but then they say we have another
3:48person and they come into contact with
3:52the exact same information so the
3:57information variable here is identical
4:01right so two different people but very
4:04similar come into contact with identical
4:06information one output is you know be
4:10linear the other output is you know
4:12complete failure right so why is that
4:16why can two people come into contact
4:20with the same information and get
4:22inverted dramatically like it
4:25streamit results why is that and why
4:30that is is because it's not about the
4:34information you know the information
4:36plays a role but it's not the main part
4:39the main part of this is actually the
4:44human's mind that is you know the main
4:49piece here and what's fascinating is the
4:51way we look at education and online
4:54courses and and everything is we just
4:57look purely at the information side we
4:59think ok let's just get these people to
5:01learn this information and they should
5:03get this result because someone came
5:05into contact with this information the
5:07output was this so therefore we should
5:09just force this upon everyone and that
5:12output should be the same or to varying
5:14degrees the same but what we see in the
5:16world and what we see you know every day
5:18is this we don't have the homogeneous
5:22output we have wildly varying outputs
5:25and it's because you know we've never
5:27really looked inside these people's
5:30minds and how that works and what I've
5:34really tried to do is dig into this
5:36I've studied other people's minds my own
5:38and I've even you know been my business
5:42consulting com what we do is we help
5:44people start their own businesses from
5:47scratch so we take people who have no
5:49experience with business or anything and
5:51we have to teach them everything and
5:53help them make that dramatic
5:54transformation into starting a business
5:56and being successful with it and that's
5:58a huge shift and so I've observed twenty
6:03thousand people over five years go
6:05through this and I've observed what
6:07happens and the people who have trouble
6:10with it the people who do okay with it
6:12and the people who get extremely good
6:14results with it and it's fascinated me
6:17and I've really dug into this and looked
6:19at it and what I've found is that there
6:24are layers to like every humans mind
6:27every humans brain there are layers and
6:30what's fascinating is that when we go to
6:34learn a specific skill like let's say
6:37the specific skill is
6:39is going to be you know how to run
6:41Facebook ads right so that specific
6:44skill is going to be up here on this
6:47processors layer or this process layer
6:50and beneath this we have like a business
6:54discipline layer and so this layer here
6:58is so I'll write this on so you guys can
7:01see it so here we have like processors
7:06and then on this layer here we have
7:12business disciplines and then on the
7:20light on the layer beneath it
7:22we have business principles and then on
7:31the layer beneath this one we have this
7:36one here is mental cognition and then
7:44the layer beneath it we have mental
7:49awareness
7:54now you're probably thinking what are
7:56these things why are we talking about
7:58these things well let me explain all of
8:00them so if somebody and I see this
8:02happen every single day you know
8:04somebody will come in and they want to
8:06start a business or be an entrepreneur
8:08and they think okay well what do I need
8:10to learn all right the hot topic is like
8:12Facebook Ads and so I'm gonna come right
8:15in and just learn all about Facebook Ads
8:17and so they go in and they do that and
8:19what they're doing is they're they're
8:21acquiring a specific process skill like
8:25this one little block here and they're
8:27acquiring the skill but it's operating
8:31on top of all of these layers and the
8:35best way to think about this is you know
8:37you've got like an operating system on
8:39your computer like Windows or Mac
8:41operating system and then on top of that
8:43you can install applications like
8:46Microsoft Word or keynote or different
8:49things and then within those you know
8:51you can create different files and
8:53create different things like that
8:55now if you install like a specific
8:58software application on a bad operating
9:02system like let's say you try to install
9:04a Microsoft Windows application on Mac
9:08OS it's not even going to install all
9:11let's say you install like a real memory
9:14hungry application like some sort of
9:16graphics heavy graphical interface sort
9:19of application on top of an operating
9:22system that's outdated with not much RAM
9:24and not much available memory and hard
9:26drive space
9:27well that application is going to be
9:29running very poorly it's going to be
9:31extremely inefficient and it's not even
9:34going to really function and this is
9:36what I see happen in business every
9:38single day is people are just trying to
9:40learn these processes in these specific
9:43things but their foundations of their
9:47mind are like in serious like in
9:52seriously poor condition and basically
9:55what they're doing is trying to install
9:56like how to run Facebook ads on top of
10:00really no knowledge of business
10:03disciplines no knowledge of business
10:05principles and
10:07poor mental cognition and poor mental
10:09awareness and when this happens it's
10:12just like building a house on top of
10:14sand you know it doesn't matter if you
10:16get like a multi-million dollar house
10:19with the fanciest design and everything
10:21if you lay that thing on top of sand
10:23it's going to fall over and it's going
10:25to be completely useless and people
10:27don't look at these layers beneath and
10:30they don't work on these layers beneath
10:32and then they wonder why these things up
10:35here don't work for them and they wonder
10:37why things are glitching up here and
10:40this is why two people can come into
10:42contact with the same information and
10:44get different results because it depends
10:47on the layers of the person's mind
10:50somebody who's more aware with bitter
10:53sharper cognition and with better
10:55business principles and a wider array of
10:59business disciplines is going to learn
11:03information and perceive information in
11:05an entirely different way and let me
11:08give you a perfect example of this let's
11:11say that somebody you know is much more
11:14aware and has much better
11:16problem-solving abilities and much
11:19better critical thinking abilities and
11:21lots of different mental models to run
11:23things through and then on the business
11:25principles layer this person has a
11:27really solid kind of paradigm and
11:29ideology of how they how they like to
11:32run their business and they've got some
11:34values and some principles they like to
11:35follow and then up here on the business
11:38disciplines layer they say this person
11:40understands accounting they understand
11:42tax and they understand sales and they
11:46understand marketing and product
11:48development and they understand
11:50management as well and looking after
11:52teams and all of that well now if that
11:55person if they learn how to run Facebook
11:57Ads
11:57when they're going through that
11:59information they're going to see all of
12:00these connections all over the place
12:04that the other person can't see because
12:07they don't have this base foundation so
12:10the person who's got all that and
12:12they're learning Facebook Ads they're
12:14gonna think oh this is how Facebook Ads
12:16would affect the P&L this is how
12:18Facebook Ads would affect the balance
12:20sheet
12:20or this is how Facebook Ads would make
12:23that thing work or this is how sales
12:25kind of comes in and interrelate with
12:28Facebook ads and this is how product
12:31development comes in and connects with
12:33Facebook ads they're starting to connect
12:35all of these different dots between all
12:38of these different layers and then their
12:40style and their method in their way of
12:43running Facebook Ads
12:44is going to be massively influenced by
12:47these lower layers because every single
12:50layer of your mind
12:51you the layer above it inherits
12:54everything from the layers below so if
12:56you have really poor awareness and
12:58self-discipline you know if you're at
13:00this awareness layer if you are not able
13:04to catch things if you're like attention
13:07span is really short and you know if
13:10you've got really destructive behaviors
13:12and habits and if you also have a poor
13:16sense of identity and you've got a lot
13:18of delusions and false beliefs and
13:20things like this then if you if this
13:23person tries to learn anything it's game
13:25over you know this person has problems
13:27just sitting in front of the computer
13:29for an hour and watching a video that's
13:32longer than two minutes let alone
13:34starting a damn business you know so
13:37this person here it doesn't matter what
13:40they learn they're screwed and the
13:43person with bad mental cognition it
13:45doesn't matter what they learn this
13:46group so these layers down here of
13:49extreme importance and so this is how we
13:52can get these massively differing
13:55results you know the person who becomes
13:57a billionaire from this information
13:58they're able to see all of the different
14:01interconnections and they have really
14:03solid foundations that they're able to
14:05just like take this information apply it
14:08between all these different things and
14:10then execute it as a functioning
14:12business or executing it as you know are
14:15functioning anything and making a
14:17massive difference whereas the other
14:18person just sees words because all that
14:21is to them is words and an a classic
14:24example of the other person is when they
14:26learn Facebook Ads they're thinking
14:28we'll like how do how does this work
14:32financially like how does this
14:34if I spend money on ads how does this
14:36come back does that is that like going
14:38to be a profit or a loss they they
14:40they're already breaking down mentally
14:42and then you know they're because their
14:45awareness and everything is so bad
14:46they're not even going to be able to sit
14:49down in front of the screen and write
14:51Facebook ads for an extended period of
14:53time because their attention span is so
14:56horrible and then they're going to have
14:58no mental cognition skills they're not
15:00going to be able to problem-solve things
15:02when problems arise and problems always
15:05arise you know one thing we can
15:07guarantee is that problems are coming
15:08they come every day all the time
15:10it's non-stop and so if you're not good
15:13at solving problems and thinking
15:15critically then you know none of this is
15:18really going to work and this is what
15:20nobody is really teaching anyone
15:22anywhere ever
15:24like people are just teaching skills
15:27these days now when I look outside and I
15:29look at by entrepreneurs and in these
15:31different things they're learning
15:32they're learning specific skills
15:34processes or tools and they're
15:37installing it on top of you know of
15:40nothing and that they're just results in
15:43nothing and they don't want to look at
15:45these layers beneath because they think
15:47oh that's just some like we will crap or
15:49something that doesn't really matter I
15:50just want to learn the technical like
15:52nuggets oh I'm gonna get those gold
15:53nuggets well these are we the gold
15:55nuggets sir and you can have a lot of
15:57these but if you don't have these base
15:59foundations you ain't gonna make
16:01anything happen
16:02or if you do make something happen it's
16:04gonna be short-lived it's going you're
16:06going to self-sabotage it and it's going
16:08to crumble and the moment you face a
16:10problem because you don't have this
16:12stuff down the bottom you're going to
16:13you're just going to fold you know
16:15you're just going to completely crumble
16:17in the heat of the moment and that's why
16:19billionaires you know the billionaire
16:22mind is really well built it has these
16:26layers really dialed in now what I'm
16:29going to do is just walk through each
16:31one of these layers and describe it to
16:33you so that you can understand what it
16:35is and how you can start like working on
16:38your mind to make it full stack like
16:42this and that's the kind of term I've
16:44I've I've come up with to describe the
16:48this billionaire mind it's like a
16:50full-stack mind and it's when you work
16:52on every single layer in the stack and
16:55every single different interconnection
16:57on the stack and you master the whole
16:59thing instead of just the part because
17:02if you just have a good part installed
17:04on a rotten foundation the part will rot
17:07right so it mental awareness what is
17:11that and I'll write these things down
17:13fear so mental awareness is really the
17:24first layer and what it's all about is
17:34basically how am I going to fit this in
17:37I'll just fit it in here what it's all
17:40about is your self-awareness so how will
17:49where you are of yourself and your own
17:52thoughts and your own actions and your
17:54behaviors and your habits and your
17:56tendencies and the patterns that seem to
17:58you know repeat in your life and your
18:01existence you know so someone might be
18:04like will self-awareness I I know I'm
18:06myself is here and I'm aware of that so
18:08I'm self-aware yep like it this is
18:10different this is being incredibly aware
18:13of yourself and your thoughts basically
18:16you know when you have got a higher
18:18level of self-awareness is when you
18:20focus on your the patterns of your
18:23thoughts instead of the thoughts
18:25themselves so you're kind of taking a
18:27third a third what's it called it's
18:32called a third person view of yourself
18:34you're really looking from a bird's eye
18:36view on yourself and how you're
18:38interacting instead of being kind of
18:40stuck in it yourself
18:42now just close then something's popped
18:45up on my phone so you've got self
18:48awareness you've also got your identity
18:51and your identity massively shaped zebra
18:55thing in the stack and what I mean by
18:57this is it's your self image of of who
19:00you are so you know
19:01this who you are physically and
19:03everything but then there's who you
19:04think you are and who how you see
19:06yourself and what your self-image is and
19:09this massively shapes everything because
19:12if you think I'm not good at math and
19:14I'm not outgoing and I'm not able to do
19:16that or I don't have much energy or work
19:18ethic then you're going to carry that
19:21into everything you do and so as soon as
19:24you come across some math anywhere in
19:26this stack or anywhere in your business
19:28journey they're going to be like open oh
19:30that's not me I'm not a math person and
19:32I see this happen all the time I see it
19:34with people often say math or technology
19:37I see it a lot especially with the older
19:40generation they say oh no technology
19:42that's not me That's not me and honestly
19:46guys it's 2018 if you think technology
19:49isn't you then you are right
19:52because so you need to stop saying that
19:55because it's not true like you can't
19:58show me this like this imprint in your
20:00DNA that proves that technology isn't
20:02you you made it up it's a delusion you
20:06cooked it and you're believing it and
20:08you have to be the one that pops it
20:10because it's not true you can learn
20:13technology if you think you're not good
20:14at math you can learn math right and
20:17it's also like your ability to to belief
20:24systems so what you believe is true and
20:29not true about the world a lot of people
20:31have a lot of these like making money as
20:33evil or making money as bad or you know
20:35all of these different things you have
20:36to fix all of these before you can
20:39really have any success anywhere else in
20:42the stack everything you learn on top of
20:45the space here will get these things
20:48inherited into it right it's like having
20:51a virus in the operating system of your
20:54machine and then installing applications
20:56on top of it the virus is just going to
20:59just string its way right through
21:01everything and so that's you know mental
21:05awareness and I'll put out here well
21:10I'll just rub out that one here so I've
21:12got some space
21:14now let's talk about the second layer
21:19and there's more things to mental
21:21awareness than just this right there's a
21:23lot more to it but for the sake of
21:25keeping things you know brief I'm just
21:27going to mention a few things from each
21:29stack and then the second one is mental
21:33cognition and what this is is this is
21:40your ability to problem-solve think
21:43critically and prioritize different
21:47things it's basically the layer in your
21:50mind that receives all of these
21:52different requests well there's all this
21:54different information flying into your
21:56mind all the time like oh maybe I should
21:59do that maybe I should do this thing or
22:00do that and this this layer here is
22:04responsible for scheduling things it's
22:06like okay how important is this and it
22:08weighs it it weighs it's upside and it
22:11weighs its potential downside and it
22:13weighs it's like its effect horizon and
22:16it also looks at all of the other pieces
22:19in the system and then it assigns kind
22:22of like a priority witness things should
22:24be executed is it critically important
22:27for survival if so then it should run
22:29now execute now take the front of the
22:31cube go or if it's not so crucial it
22:34should just take you know a back
22:36position in the queue and get scheduled
22:39later on because it's not that important
22:41but also if something is not important
22:43at all this this layer here will just
22:45discard a bit and just ignore it so this
22:48piece is huge and I see a lot of
22:50entrepreneurs who have some good
22:52self-awareness and they've got some good
22:54top-level kind of skills and principles
22:56and disciplines but the cognition layer
22:59is seriously missing it's like lacking
23:03and prioritization is a key one because
23:11I see people all the time they delay
23:14working on the thing that's most
23:16important and they prioritize and obsess
23:18about and spend a huge amount of time on
23:20the thing that is useless so when I see
23:23this kind of behavior happening again
23:25and again and again it tells me that
23:27this purse
23:27has a really backwards like cognition
23:30layer in their mind and they're not able
23:32to weigh things correctly and prioritize
23:34things correctly the Slayer of the mind
23:37is also responsible for like planning
23:40thinking out into the future breaking
23:42things down into chunks scheduling them
23:45delegating them to other people and
23:47planning and contingencies like what
23:50happens if we if this happens then we
23:52should do that or if there happens then
23:54we should do this it's like a really
23:56powerful layer of the mind and it's also
24:00good at problem-solving so you know
24:05problems come up all the time and this
24:07layer of the mind will help you solve it
24:10how do you troubleshoot a problem like
24:12what are the different mental models
24:13that you view the problem through one of
24:17the different perspectives that you flip
24:18between and one of the different
24:20problem-solving methodologies and
24:22frameworks and things that you deploy
24:24when you come into contact with a
24:26problem all right this is mental
24:28cognition we've also got pattern
24:30recognition so how easily you're able to
24:37spot patterns in your own behavior in
24:40your life in your business in the data
24:42that you see for ads and your accounts
24:45in the way your industry is evolving
24:48it's like pattern recognition is very
24:50very important and you know when you
24:53study billionaires you'll notice that
24:55they're hyper aware they are extremely
24:58aware they catch things they catch
24:59details and they can see things that
25:02other people can't even see about
25:03themselves all right it's almost like
25:05they have x-ray vision they've got like
25:08a clear winds right this hyper awareness
25:11is that you're not born with it it's
25:13made you can teach it to yourself it
25:15just takes practice and then the
25:18cognition layer billionaires are amazing
25:20at this their problem-solving abilities
25:22they can just go boom BAM find it done
25:24before like you know before anyone else
25:27has even processed the information and
25:29they're also able to prioritize things
25:33properly like they're able to put things
25:35back in queue say no to things you can
25:37do lots of things and focus on the key
25:40important things and that's why this
25:42layer is of exceptional importance in
25:46your business principles so where am I
25:50going to write this one I think we'll
25:54put it we'll just put it here if you can
26:00still see it here business principles
26:08what are these so these are your like
26:11your values and your beliefs about how
26:15to run a business and these things are
26:18crucial and so you know at these base
26:21layers we're not even getting into
26:22business so I down here we're not even
26:25learning business skills we're learning
26:27mental awareness and problem-solving and
26:29mental models and cognition all of this
26:30and then we're only getting into
26:32business on this on this layer upwards
26:34right and business principles are
26:38different like beliefs you have about
26:40business so I'll give you some of mine
26:43for example like I run an online
26:46education company and so I need a
26:48central point of focus one thing that I
26:50always default on and there is like
26:54student position like the student is the
26:57most important person in the equation so
26:59whenever I'm whenever I have to make a
27:02trade off or anything I think what does
27:04the student want if the student was here
27:06and they were listening to this what
27:08would they choose what's best for them
27:10not what's best for me
27:12not what's best for different people in
27:14the company nor what's best for
27:15profitability or margin what's best for
27:18the student through their eyes
27:21so that's like a principal students
27:23obsession another one would be that we
27:26focus on on cash flow so you know we're
27:32not too concerned about profit margins
27:35or profits or quarterly profits or
27:38anything to do with profits or earnings
27:40what I'm most interested in is cash
27:43flows and specifically long term future
27:45cash flows that is what I'm focused on
27:48and so you know this is very different a
27:51lot of business people they've just got
27:53their eyes fixed
27:54on profits all right and all they want
27:55is profits but in my belief system may
27:57think profits people who do that a kind
27:59of silly because they're leaving
28:01themselves open to for somebody to come
28:03in and take their market away from them
28:05by just simply not making as much profit
28:08that's leaving yourself open to a very
28:11easy place to attack and also you have
28:13to pay a lot of taxes and it's highly
28:15inefficient and you're also not
28:17investing a lot back into the business
28:19into research and development and things
28:21like this so this is just one principle
28:23so you know I've got a student obsession
28:25I'm a cashflow focused or long term
28:28future cash flow focused and also I
28:31think about the long term so if
28:33something is gonna make my company less
28:35money this year but more money in three
28:38years five years ten years from now I'll
28:40take the long term one any time right so
28:43that's another one and also thinking
28:45from first principles so I like to have
28:49in my company like an idiosyncratic kind
28:53of method of thinking so I like to think
28:56differently and not just follow the
28:59crowd and so instead of just doing what
29:01everyone else is doing what we will do
29:03is we'll look at it and break it down to
29:06its first principles we'll break out
29:08this thing into its different
29:10constituent parts we'll analyze all of
29:13them weigh all of them and then find the
29:15best way to reassemble these constituent
29:18parts to achieve an optimal outcome
29:20instead of just doing what everyone else
29:23is doing and what this leads to is quite
29:25abnormal behavior to be honest you know
29:27a lot of the things that a lot of people
29:29have really obsessed about I completely
29:31ignore and people think I'm an idiot for
29:33doing it and then a lot of the things
29:35that people never touch I obsess about
29:37and they think that I'm stupid for doing
29:40that right this is idiosyncratic
29:41thinking and it's the byproduct of
29:44having like a first principles kind of
29:47worldview and a scientists worldview
29:50instead of just you know like a fashion
29:54point of view right fashion is it
29:56follows trends but a scientist looks at
29:59the constituent parts in the first
30:01principles of everything and so those
30:05are a few different business principle
30:07then up here we have business
30:10disciplines so what are these so right
30:12here
30:13cash flow focused and then student
30:21obsessed and then we also had those
30:26principles all right you know pretty
30:32sure you can see there but now what
30:36about business disciplines what are
30:38these things well how am I going to fit
30:43these ones on I should be able to fit it
30:46by right here what happens if I go like
30:49that good this will work so then we're
30:54up to number four
31:02business disciplines here's where the
31:06Slayer starts to have different parts so
31:09you can see these layers like this is
31:11all blue this is all red this is all
31:12green but up here we have different
31:15pieces so these are kind of the
31:17foundational layers but as soon as we
31:19get to the business discipline layer we
31:21can have different disciplines right so
31:24if we know accounting that could be one
31:26and then if we know like finance or law
31:30or tax there could be like another and
31:32then marketing could be a different one
31:34and then sales could be a different one
31:37product development could be a different
31:38one and then management could be another
31:41one right and what happens is our
31:44education systems like how universities
31:46and everything what they do is they
31:49don't teach anyone this parent teaching
31:51on this or this and what they do is they
31:53teach people only one of these so you've
31:56just learned marketing or you just learn
31:59finance or you just learned this one
32:01thing and what this leads to is just
32:03single skilled workers right and this is
32:07a really fascinating argument it's like
32:09should you learn one thing and just
32:12focus on it or should you be a
32:14generalist and learn a few like a
32:16broader range of things and what you'll
32:18notice is if you study billionaires or
32:21really successful people they are pretty
32:25much in every single and every single
32:28case like full stack and what I mean by
32:31there it's not just through here but
32:33multi discipline so they know lots of
32:36different things and this has been the
32:38case for me too along my journey is you
32:42know I've thought all right I'll just
32:43learn this marketing piece and then I
32:45learn how to do that and then oh now I
32:47need to sell now the now the result of
32:50running this marketing thing generates
32:53appointments and now I've got to get on
32:55these appointments and sell but now I
32:56don't know how to sell so what I do I've
32:58got to learn sales now so then you learn
32:59the sales part and then you're like what
33:01what am i selling well now you've got to
33:04come up with a product or a service
33:06right and so how do you do that there's
33:08like product development that's like
33:10learning how to research and learning
33:13how to find problems that
33:16market has n craft solutions to them
33:18this is a whole other thing and then
33:20once you've done all of these so now
33:22you've learned marketing sales and
33:23product development and research and
33:26things now you're running but now what
33:28you need to learn accounting so that you
33:30can manage everything and know how it
33:34all works economically and how that all
33:36of this outputs on the balance sheet and
33:38the P&L and then you do that and then
33:41comes tax season and now you're like
33:42Noah now you've got this tax stuff and
33:44so it just keeps going like this and the
33:48the belief that a lot of people have is
33:50that oh you can just hire other people
33:51to do that or just get contractors to do
33:53all of that but what you'll end up
33:54finding is that they're just not good
33:57enough because this single skill workers
34:00like all they know is their little thing
34:02and so when they look at your part of
34:05your business all they can see is that
34:07and they can't see how it interconnects
34:09with all the other parts and so they
34:11give you stupid advice right and this
34:14this means that you can't really trust
34:17these people or fall back on these
34:18people and what I've found through my
34:21experience in business is that I pretty
34:23much had to learn how to do everything
34:25myself so I've learned accounting tax
34:27law corporate structures across
34:30different countries and internationally
34:32I've learned cash and accrual basis
34:34accounting I have had to learn marketing
34:37and then I've had to live in sales I've
34:39had to learn product development I've
34:41also had to learn statistics and like
34:45analytics and things like that and
34:48probabilities conversion rate
34:50optimisation I've had to learn all of
34:53this as well as management functions
34:54like you know how to hire people how to
34:57make sure the culture and everything is
34:59good and within the company how to you
35:03know create incentives and compensation
35:05plans you know all of the stuff I've had
35:07to learn all of it and what that that's
35:11happened by accident kind of just
35:13because I've had to along the way but
35:15what that resulted in after a while was
35:18really good knowledge across all sorts
35:21of things and an ability to go in at
35:23every different part of the business and
35:25see how that interconnects to everything
35:27else and troubleshoot things
35:29real quick and problem-solve things real
35:31quick and when you learn the full stack
35:35so multi disciplines and the stuff down
35:38here what you'll be able to do is do the
35:41work of 30 people yourself and move a
35:45hundred times faster than the thirty
35:46people would as a team right now you
35:50want to have that skill and billionaires
35:52have that skill billionaires
35:56multi-disciplined they are typically
35:58like t-shaped and what I mean by that is
36:01they have a broad knowledge of all these
36:03different things but they focus in an
36:07extreme obsessive way on a particular
36:09thing so someone might know law taxes
36:12accounting and all of this but they
36:14might focus incessantly on like just
36:17corporate structures right but they have
36:19to understand all this other stuff in
36:21order to do this and what I see today is
36:24a lot of entrepreneurs just learning one
36:26discipline and then they go out into the
36:28world and they they're not able to do
36:32anything they're not able to create
36:33value because businesses are the things
36:37that create value for people the
36:39businesses have value and businesses are
36:42made up of lots of different
36:43interconnected parts and so if you want
36:46to start a business you need to know the
36:48different parts and how they
36:49interconnect you currently just know one
36:52piece that's how you get a job at a
36:55corporate not how you create a business
36:58and add value in the world and so this
37:00is a very important thing and then on
37:04this top layer here we've got like
37:05processes and tools and things like this
37:12and you have different processes and
37:15tools on top of every discipline so on
37:18top of just the discipline of marketing
37:21right I understand
37:23Facebook Ads I understand like click
37:25funnels for landing pages
37:27I understand analytics and I understand
37:30conversion rate optimisation and I
37:32understand a whole bunch of different
37:33processes like how to create ads
37:35different frameworks for ads just within
37:38one channel and then I know how to do
37:41copywriting and then
37:42how like what types of images and things
37:45would work well and I know the
37:47psychology of marketing and all that and
37:49so these are all different specific
37:52processes tools and skills that just sit
37:55on top of one discipline of marketing
37:57and then with sales you know you've got
37:59different sales skills and processes and
38:01tools and then on top of Finance or
38:04product development you've got different
38:06processes tools and skills and so up
38:09here we get into the actual what is the
38:11step by step process of how we do this
38:13thing here is the discipline the
38:16marketing the sales then we've got the
38:18principal's so it's your core beliefs
38:21about operating a business then your
38:23mental cognition your problem-solving
38:24abilities and your prioritization and
38:27planning and forecasting and mental
38:31models and all of this and then down
38:33here we've got your awareness and that
38:35is self-awareness identity belief
38:37systems things like that now like I said
38:40earlier in this video what I see today
38:42is people just learning tools how to use
38:45the power editor good god if you just
38:47learn how to do that you're useless and
38:49or just processes like how to just run
38:52this per specific process what are you
38:55doing the process breaks what the hell
38:57do you do now you're screwed because all
38:59you know how to do is execute a process
39:01you don't know the the discipline on
39:03which the process says and you certainly
39:05don't know the principles upon which
39:07this process was founded and created on
39:11and you don't know how to prioritize and
39:13problem-solve anyway and you're not even
39:16aware at the base level so even when it
39:19stops working you probably won't even
39:20notice that it stopped working and
39:22you'll just continue to execute it and
39:24it not work and you're not even aware
39:26that it's not working and I see this
39:29every single day so the purpose of this
39:32video is to really show you in decode
39:34the billionaires mind how it works what
39:37it is and how it's fundamentally
39:39different from the everyday normal
39:41person's mind and if you want to be
39:43successful in life and in this world and
39:45any endeavor then you honestly need to
39:48focus on becoming full-stack you need to
39:51work on your awareness your cognition
39:53you need to develop principle
39:55your philosophy of things and then you
39:58need to learn different disciplines by
40:01keeping Michael Jordan he could play
40:02offense and defense right here's one of
40:05the first players that could do that
40:06because players usually focused on just
40:09offense or just defense he played both
40:11and so we see this everywhere across all
40:14disciplines Michael Schumacher was one
40:16of the only Formula One drivers who was
40:20a mechanic and would get in the workshop
40:23with his mechanic for his Formula One
40:25car and know what's happening with
40:27everything you'd come off the track and
40:29say you need to turn this on this fuel
40:31mixture up here
40:32I want this fuel mapping to have more
40:34kick down here and it needs to not
40:36be a spiky back here or that back lift
40:39tire needs to go up 1 psi right he would
40:42he would know the detail he was full
40:45stack and so you know whatever the thing
40:48is that you want to achieve and succeed
40:50in in life then I can tell you that the
40:52way you're going to be exceptional at it
40:54is through becoming full stack so that's
40:58it for this video today now what I want
41:00you to do is if you enjoyed this just
41:02click that like button and let me know
41:04what you thought in the comments section
41:06below just give me some feedback also
41:09make sure you subscribe to my youtube
41:11channel I release a video like this once
41:14a week every week as well as customer
41:16interviews and other resources like that
41:18so thanks for watching and I look
41:19forward to seeing you in the next one
41:21soon