How to Learn Business | Side Hustle Ideas 073

0:03hello everybody hello and welcome to

0:06side hustle ideas I am Bill the

0:08company's expert thank you for joining

0:09me today um my setup looks

0:13weird there we go awesome this is the

0:15weekly live stream where we talk about

0:17entrepreneurship so side hustles running

0:20your own business business in general

0:22that kind of thing if you have any kind

0:23of aspirations to learn business to

0:26understand money understand how to make

0:27money directly uh this is the live

0:31stream to watch um special shout out as

0:34always to my super thanks donors to my

0:36YouTube channel

0:39members membership has the Privileges uh

0:42to my patreons and to my participants

0:44that's you thank you for being here uh

0:47this is interactive so that means that

0:50uh if you're seeing my face you should

0:51see a chat box somewhere nearby get in

0:53the chat and ask me questions let me

0:56know what you're wondering about let me

0:57know what you're struggling with and I

0:59will do my best to help you out I see it

1:01says Brian Borman uh has joined so thank

1:05you to Brian Borman you are awesome

1:07Brian thank you for uh being here also

1:10and uh the topic today the title of

1:14today's stream is how to learn business

1:18this is episode number 73 of side hustle

1:21ideas uh thank you for joining me and I

1:24see that there's already 12 people here

1:26so thank you um yeah I'm going to talk

1:29about this top topic and uh then I'm

1:32going to take questions I may take

1:35questions amongst talking about the

1:37topic if there's any relevant questions

1:39at the time uh but yeah this is a topic

1:43that's very near and dear to my heart I

1:46believe that uh everybody will benefit

1:50from learning at least the basics of

1:52business I look around and I see a lot

1:55of people in this world either people

1:57that are kind of close to me that I know

1:59as you know in the real world or further

2:01away from me that I see in the virtual

2:05world um that are at a disadvantage

2:09because clearly they don't understand a

2:11few

2:12basic principles of business including

2:15things like economics and stuff like

2:16that and that leads to you know things

2:19not go in your way um if you believe

2:23something that is false uh I think that

2:26sooner or later you will see uh what do

2:30they call it cognitive dissonance where

2:31it's like you know your opinions and

2:34your thoughts and what you accept to be

2:37true doesn't jive with what you see

2:40actually occurring out in the real world

2:42whether it's stuff happening to you or

2:44uh stuff happening to other people uh

2:47eventually you will notice this and if

2:50it gets really severe it causes you to

2:52question your assumptions of what you

2:55think is true um so I see this all the

2:58time with business I see people

3:00um whether they're making decisions

3:02about their career or they're trying to

3:05understand how the economy works or how

3:08they fit into the economy and you know

3:10stuff like this or it could be you know

3:13how to manage your money and how to

3:16manage debt and assets and savings and

3:19all that kind of stuff uh whatever

3:22context it's in I see people that just

3:23don't understand these basic principles

3:25and it's hurting them and it's holding

3:27them back so um

3:30if I could sort of influence anyone I

3:32would I would uh basically get people to

3:37try and

3:38re-evaluate uh how much you know about

3:40business and even if you have no

3:42interest in it directly learn some of

3:44the basic principles and they will help

3:46you in your life just by living in the

3:48world okay so let's get into this um our

3:52topic today is how to learn business so

3:54I put together a couple of uh basic

3:56principles on this um how do we learn

4:00business well business is kind of

4:03interesting there's a theoretical

4:04component obviously you learn the

4:07principles and then there's a practical

4:09component you go out and you see how it

4:11actually works in a certain context so

4:14that could be a certain industry right

4:17or it could be a certain um area in

4:20which you're interested okay so you've

4:22got the theory you've got the Practical

4:24and a lot of people would agree that

4:26there's a certain component of continual

4:28Improvement now that's a distant third

4:31as far as I'm concerned uh the bottom

4:33line is that you need the theory and you

4:36need the practice and both will be very

4:38very insightful both will be very

4:40revealing and they will benefit you okay

4:45um now like a lot of people um many

4:50years ago I was exposed to some of the

4:52more popular business books you know the

4:56sort of bestseller type books and uh it

5:01seems to me that a lot of people either

5:05they get re they get referred to these

5:08books or they independently arrive at

5:11the conclusion that the way to learn

5:13business is to go buy some coffee table

5:16books or some bestseller books and read

5:18them and that will teach me business now

5:23in order to address this I'm going to

5:25pick an example that a lot of people

5:28seem to be talking about these days and

5:30that is the Rich Dad Poor Dad book or

5:34book series um what was the guy who did

5:37it

5:38Robert uh kosaki is that if that's how

5:41you say his name um I did read this book

5:45like back in the day like I don't know

5:4715 years ago or something and um because

5:52everybody at the time was talking about

5:53it and I'm not sure why I guess it was

5:56very popular but um a lot of people who

6:00didn't know anything about business

6:02motivated by perhaps like the whole

6:05getrich quick thing were going out and

6:08buying these type of books including

6:10this one Rich Dad Poor Dad and reading

6:13it and coming away with the lessons in

6:16that book now I read the book and what I

6:22could say at the time was that uh some

6:25of the stuff the content in that book to

6:28me seemed very very fishy very

6:32suspicious

6:34because as I recall and this is like I'm

6:36trying to remember something that I read

6:3715 years ago I walked away thinking this

6:41guy is ignoring a lot of the fundamental

6:45principles of Finance the book was about

6:48like real estate investment and stuff

6:50like that you know go and uh go to real

6:53estate auctions and buy a property cheap

6:55and then you know turn around and sell

6:57it or you know whatever and uh leverage

7:00yourself right up like you know borrow

7:02money to do this and then buy stuff with

7:04it and then you know you could turn it

7:05around and sell it and uh you know stuff

7:09of that nature and I remember thinking

7:11like this is very dangerous

7:14because this person is talking about

7:17getting returns but they're ignoring the

7:19concept of risk which is like a

7:21fundamental thing in finance and if you

7:23know the basics of Finance you know that

7:26risk and return are kind of inseparable

7:29they go hand in hand whenever you talk

7:31about what you're going to do in the

7:33future with money what you could do and

7:35how it might turn out you have these two

7:39these two things that are inseparable

7:41return like like what could happen and

7:44risk the likelihood that it could happen

7:47because uh you know things things can

7:50happen right you know when you plan what

7:53you're going to do in the future uh

7:55there's not 100% chance that it's going

7:58to occur the way you imagine it is right

8:01uh that's a concept of risk and in

8:03finance they they abstract this concept

8:07and say look you can't predict what's

8:09going to happen it's going to be random

8:12um and then they analyze the real world

8:15with this assumption it's almost like

8:17the principal statistics you have what

8:20you're expected to get and then you have

8:22a a VAR a variance like a standard

8:24deviation from you know the the

8:27likelihood of it happening so anyway

8:29this book it ignored the concept of risk

8:31so it was very dangerous this person was

8:33recommending that people go out and do

8:35these very very risky things that could

8:38easily turn South for them but the

8:43impression I got was that they

8:45completely ignored the concept of risk

8:48and the likelihood that things may not

8:51turn out like that and if they you know

8:54if something happens that you're not

8:55predicting this could be a major major

8:58mistake that you're advising people

8:59people to

9:00do so but everyone in the world was

9:03talking about this I I had people come

9:04up to me that didn't know much about

9:06business they weren't managers but they

9:08were entrepreneur types they were coming

9:10up to me and they were saying have you

9:11read this book and I was saying yeah you

9:14know and they were just high on the on

9:17on the concepts that were um that were

9:21put forward in this book and uh I did

9:25not like that and I felt that that

9:26that's not a good way to learn business

9:29and when you look into this stuff at

9:31least if you're me you form the opinion

9:34that uh it's always been like this

9:36there's always a flavor of the month you

9:38know

9:39trendy business person that has a

9:42seemingly new business

9:44idea the idea is half-baked it does not

9:49fully embrace the fundamental principles

9:51of

9:52business but yet it's super popular and

9:55a lot

9:56of people who don't know any better

9:59follow them and they follow them right

10:01off the edge of a cliff sometimes so I

10:04would not recommend that's how anyone

10:06learns business I've always been an

10:08advocate of like go to the source go to

10:11the legitimate

10:13knowledge uh that has been around

10:16forever it's peer

10:19reviewed you know it's accepted the

10:21world over it's taught in universities

10:23the world over it's not controversial in

10:26any

10:26way it's established it's establishes

10:31knowledge so that's what I recommend

10:33that's where people should go to get

10:35their knowledge of business theory in my

10:39opinion um what are some other ways you

10:42could learn business uh there's a lot of

10:43courses out there now I looked this up

10:45there's stuff on corsera Udi edex if

10:49that's what you call it and a whole ton

10:50of others LinkedIn now I'm sure that

10:53some stuff out there is good and some

10:56some stuff out there is bad I've seen a

10:58few things that are bad

11:00or being kind very incomplete let's put

11:03it that way um but same thing again I

11:06think that a lot of people write their

11:08own sort of flavor of the month kind of

11:10theories that are just somebody you know

11:13it's almost like writing fiction someone

11:15just creates something and then packages

11:17it makes all these promises and then

11:19sells

11:20it

11:22um

11:24now this is going to sound terrible but

11:28uh as you can see you guys know that I

11:30have a course for that so I'm going to

11:31put that forward in my

11:33opinion this is the best thing you would

11:35do uh I created this for the express

11:38purpose of teaching people business for

11:41$100 you're getting access to the same

11:44knowledge that people teach universities

11:47because this course is basically a

11:49reading list where you read several

11:51textbooks that are used in universities

11:54where they teach business all over the

11:56world including Harvard Business School

11:57so you're not getting my sort of take on

12:00business you're getting the definitive

12:02material you're ordering the books from

12:04Amazon you're reading them it's the same

12:06material you get when people study the

12:08stuff properly in University programs

12:11and not and not Mickey Mouse University

12:13programs either the gold standard

12:15university programs now I provide videos

12:18that guide you through it that give you

12:19my take on it but but you're getting the

12:22legitimate material okay that's what I

12:24feel is the way to do this and I've

12:26tried to make this accessible to people

12:28and I've had a lot of people buy that

12:29course and take that course and I've

12:30heard some great uh feedback from it so

12:33that's what I'd recommend so check that

12:34out there's a link in the description if

12:36you're

12:37interested now

12:40um the other aspect of learning business

12:43is the Practical side because you might

12:46have heard this debated on the internet

12:48right should I get uh formal business

12:51training like getting like an MBA or

12:53something like that right or should I

12:57just you know get the School of Hard

12:59docs should I just start companies

13:02should I engage in business myself and

13:05that will teach me how it's

13:07done and this is like a debate that's

13:09been going on online it's always online

13:12right this is a debate that's been going

13:14online for many many years because just

13:17when you think oh yeah the right thing

13:19to do would be to go to school and learn

13:21something

13:22properly occasionally you see celebrity

13:26type business people out in the world

13:28who famously

13:29don't have a business degree they don't

13:32have an MBA anything like that but yet

13:34they're seemingly widely wildly

13:38successful right um You got people like

13:41Elon Musk shooting their mouth off about

13:43like this kind of stuff uh you know I'm

13:46not saying that everything he said is

13:48wrong I'm not saying everything he said

13:50is right either but

13:52um my understanding he doesn't have an

13:54MBA but he is uh full of opinions about

13:58people who do have mbas that's great um

14:02you know what I would say is that uh in

14:05order to learn business you have to do

14:07both you have to know the theory and you

14:10also have to know the Practical side you

14:13can't escape knowing either one of those

14:16so anyone who says you don't need to go

14:18to school to learn business to do

14:19business is wrong you can do business to

14:23a degree if you don't know any of the

14:25theory but you are an exception and

14:29you're very very lucky because you're

14:31doing it in a very particular

14:34area where that is allowed okay put it

14:38that way the thing that worked in the

14:40past also works now you learned what

14:43people did in the past by watching them

14:45you do it yourself it still works now

14:48great the moment they take you and they

14:50put you in a situation where what has

14:52worked no longer works then you're

14:55screwed that's where you need the theory

14:59conversely anybody who says like you

15:01know I've been in school all my life

15:04I've never been out in the real world

15:06but yet I know it all they're equally

15:10wrong you know there's the theory and

15:13then there's how it's applied and

15:15there's many many principles that you

15:17learn but they can be applied in many

15:19many different ways and some principles

15:22will take precedence over others in

15:23different situations and that's where

15:26the Practical stuff comes in as well as

15:29like just knowing who can help you and

15:31how things are done like all the little

15:33details of that of that industry right

15:36so there's no escaping the fact that you

15:39need both so if you think you need both

15:42or or you don't need both um I think

15:45you're wrong and uh and hopefully you

15:49realize the the truth of this for your

15:51own sake for for the want of not making

15:55terrible

15:56mistakes Hamza says what

15:59yeah I just did a video called what up

16:01and it's awesome it's not even a minute

16:03long but it's uh it's it's really really

16:07good you need to check that out as soon

16:09as you possibly can um yeah so okay now

16:15this this live stream is called side

16:18hustle ideas so we talk about side

16:19hustles we talk about like how to get

16:21into business the reason why a lot of

16:24people want to get into business is

16:25obviously to make money business is the

16:27scientific study of how to make money

16:30that's what it is right and the smallest

16:35bite-size thing you can do uh to get

16:38into the world of business is doing a

16:42side hustle where you uh you keep your

16:45day job you don't do anything that

16:46affects your primary income Source but

16:49just on the side you attempt to create a

16:54business unit that makes money right and

16:57that's why I think side house are

16:59awesome I think that uh most people

17:01should try them and even if you fail

17:04even if it doesn't go anywhere you learn

17:06so much so much that will help you in

17:09your life you will be able to see the

17:13real world the way it really is um or at

17:15least closer to the way it really is and

17:18you will develop skills that really help

17:21you whether or not they directly relate

17:23to your current day job is the material

17:26they will help you in life

17:30um you know so I highly encourage people

17:32to start side hustles and the beautiful

17:34thing about a side hustle is that

17:36depending on your situation and

17:37depending what you choose it doesn't

17:40have to cost you a penny right that's

17:43the great

17:44thing as an extreme example think of

17:47doing like something like a YouTube

17:48channel like I've got here you know I

17:50mean does it cost you anything to get

17:53onto YouTube no no it doesn't now I'm

17:55assuming you have a computer and maybe a

17:58smartphone phone or one of the two it

18:00would cost you nothing you could just

18:02take your existing stuff and and do it

18:04right you know if you need to get a

18:07camera or digital camera okay you might

18:09have very minimal cost to get to start

18:12doing it or something but uh my point is

18:15that something like that is something

18:17anyone can really do you have the

18:19capability of doing it whether you want

18:22to do it or whether you're

18:24psychologically ready to do it is

18:25another

18:26matter okay but something like that as

18:29an extreme example you don't have to

18:32spend any money it might take up your

18:34time you might not have as much time to

18:37spend on your hobbies or your family but

18:41it's something you can do it doesn't

18:42jeopardize your day job and it doesn't

18:44cost you really anything so I highly

18:46recommend that people uh you know

18:48investigate potentially doing a side

18:50hustle maybe something connected to a

18:52hobby you have so it almost kills two

18:55birds with one stone you can do your

18:57hobby but you could also learn this

18:59stuff right um learning by doing is an

19:02incredible thing and this is a really

19:06long journey that will take you from

19:09essentially being ignorant and Powerless

19:12in a sense to understanding how to

19:16create money wealth yourself directly

19:21without needing an employer to be the

19:25intermediary that turns your value into

19:28into wealth or money right most people

19:32they have skills they have value but

19:33they can't turn that value into money

19:36directly they need to go through an

19:39employer they have an arrangement with

19:40an employer and the employer turns your

19:43value into income and they take a huge

19:48chunk of it and they give you a portion

19:52right so uh that's what that's what a

19:54lot of people end up doing and that's

19:56fine that's absolutely fine but if you

19:57want to step beyond that

20:00uh i' encourage you to step into this

20:03world um another thing you can do uh to

20:07learn business and this is this is often

20:11overlooked is for you to get a job in an

20:15industry and while you are working in

20:18that job uh as your day job okay you are

20:22on the inside of an industry that you're

20:25maybe interested in and you learn the

20:28inner workings of that

20:30industry while you're an employee for

20:32someone else so you have this inside

20:36view this access to being on the inside

20:39of this industry you see how things are

20:41done you see all the who are the players

20:43in it and how do you uh you know contact

20:46them and build relationships with them

20:48and and what's their role and what what

20:50are all the other players and what are

20:51their roles and how does it all fit

20:53together you learn all that stuff from

20:54the inside you're making money in a day

20:57job doing it but you take advantage of

20:58that to learn this stuff now if you

21:01wanted to work in that industry yourself

21:06independently this would be a real Boon

21:09you you get all the answers you could

21:11see how everything's done so for you if

21:15you wanted to uh start up your own

21:18entrepreneurial venture in that industry

21:21you would have had a lot of experience

21:23and knowledge to draw from so that's a

21:25great thing somebody says to me I want

21:27to you know start own company in this

21:30field and they're young and they they've

21:32never worked in that field and I would

21:34say to them well have you considered

21:37getting a job in that field you know get

21:41on the inside of it learn how it's done

21:43and it's great because you're making

21:45money while you're doing this it's uh

21:48it's a real it's a real uh easy way to

21:51do things rather than not getting a job

21:55founding a startup or something and then

21:58uh learning everything the hard way

22:00trying to break into that business but

22:02you don't know anybody you don't know

22:04how things are

22:06done right uh getting a job working on

22:08the inside of an industry is a really

22:10valid way in you don't do it forever

22:12obviously you do it for maybe maybe six

22:13months maybe a year whatever you need a

22:15couple years even maybe you move around

22:18and then you're ready to uh start your

22:21own kind of

22:24venture I'm just going to finish this

22:26point we'll get right to questions I see

22:28ham is in there is in the chat um okay

22:31another aspect of learning business is

22:33the soft skills side

22:36now this has been talked about in the

22:40context of if you go to business school

22:43right you've heard about people that go

22:44to fancy Business Schools like Harvard

22:47right Yale you know whatever and they

22:50come out not just learning you know the

22:53theory of business or business

22:55principles right but they also come out

22:58with connections to other potentially

23:02useful powerful people that can open

23:05doors for you right we've heard that

23:08cliche now sometimes that's the case

23:12sometimes it it isn't um but what

23:17business school can afford you is that

23:19if you have certain soft skills like you

23:21understand how to network and how to

23:23build relationships with people and all

23:24this then you can take advantage of

23:27being in close proximity to some of

23:29these people they're the son of people

23:31or the daughter of people that own you

23:33know companies and business Empires and

23:35this kind of

23:36stuff you know if you have the ability

23:40to take advantage of that situation then

23:43it can open doors for you right um it's

23:46not necessarily this nefarious thing

23:49that some people think it is some people

23:51who are on the outside of it that have

23:53never done it so they don't know uh it's

23:55not this oh I'm going to do you favors

23:57cuz I know you think it's it's the fact

24:00that well if I have to choose between

24:03working with or hiring a stranger or

24:06working with or hiring somebody I know

24:10all things being equal I'm going to pick

24:12somebody I know because they are a known

24:15quantity I know they're not crazy I know

24:17they're not a criminal I know they're

24:18not falsifying everything they say or

24:21lying right to my face about who they

24:23are um you know whereas a

24:26stranger those could still be

24:28possibilities right if you know someone

24:31if you've been to school together you

24:33also presumably have interacted with

24:36them you know that they uh have a good

24:39work ethic they know their stuff they

24:41have the same business knowledge that

24:43maybe you do uh you know you know things

24:45about them so for that reason they are

24:47less of a risk

24:50okay um but for people who don't

24:52understand networking they don't

24:53understand about building relationships

24:55they don't care about that

24:56stuff you squander that opportunity so

25:00having soft skills communication skills

25:03leadership skills things like this those

25:05do

25:06matter um if you walk into a room and

25:08somebody starts talking to you and

25:10within 10 seconds of talking to you they

25:12conclude that uh you don't know what

25:15you're doing you're not very bright

25:17you're not very capable and I don't

25:19enjoy dealing with you if that's the

25:21impression you give people that's going

25:23to be a

25:24handicap conversely if you have the

25:26opposite effect that really opens doors

25:28so that's another aspect of it that's

25:30not something you learn in business

25:32school that's something you learn by

25:35getting out in the world and practicing

25:37for the most

25:38part like a lot of things you learn the

25:41theory but then you go out and practice

25:43you do the Practical side of it um

25:45formal education some people do the

25:48formal education thing uh which I

25:50advocate the gold standard is a masters

25:52of Business Administration that's the

25:53gold standard if you want to learn

25:55medicine you go and get a medical uh

25:57doctor you medical degree that's the

25:59deao standard you don't buy a you know a

26:02coffee table book on acupuncture and

26:04then claim you can cure everything you

26:05go out and you take the formal education

26:08and then you are best

26:10equipped uh to deliver on the Promises

26:13you make about understanding how to be a

26:16doctor and how to help people uh right

26:19business is the same way you know

26:21instead of kind of going out and just

26:23tinkering around you know go and get the

26:26official

26:28full degree which is an MBA now there

26:31are other what I would call subsidiary

26:33degrees not that they're necessarily

26:35less work or less valuable it's just

26:37that they don't focus on business in

26:39general they focus on one aspect of it

26:41things like uh PMP for project

26:44management if you want to be a project

26:46management professional you can get a

26:47certification for that if you want to be

26:49an accountant you focus on accounting

26:51only you don't focus on sales and

26:54marketing and you know quality and

26:56safety and operations and HR you you

26:58focus only on accounting and you get you

27:00know an accounting

27:02certification I'm not saying these are

27:05lesser in any way uh they are just as

27:08valuable if not more but the point is is

27:10that you're not learning all of business

27:12you're learning a subset of it

27:15okay um so these are also possibilities

27:18but be aware that if you a big m a big

27:22flaw I've seen many people make a

27:23mistake they make is that they learn one

27:26element of business whether project

27:28management or sales or accounting or

27:30Finance or whatever quality management

27:33whatever but they then believe that they

27:37understand it

27:38all and they're

27:40wrong and that can be

27:42dangerous so don't fall into that

27:46trap um and the last thing I want to say

27:50about learning business last element is

27:52that this for some people this I believe

27:57should be a lifelong goal

27:59or at least as long as your career is uh

28:02you start when you're young you learn

28:04more and if you play your cards right

28:07you can get to the point where you

28:10understand money you understand wealth

28:12you understand how to create wealth

28:13directly you don't need an employer you

28:15don't have to worry about being laid off

28:17that's a thing of the past um and you

28:21and the goal is to be a wealthy person

28:23someone who understands money if you

28:25understand value and wealth then that

28:27will serve you well you'll end up being

28:29someone

28:30who uh owns assets instead of

28:34liabilities so your money and wealth

28:36Grows by default rather than being in

28:39debt all the time and having it diminish

28:41by default wouldn't that be great this

28:44can teach you how to do that you know um

28:47it's a it's if you want to understand

28:49money and wealth study the science of

28:51making money and that will help you so I

28:54encourage everyone to do this

28:58uh and I'm here to facilitate people who

29:00want to jump into that world so that's

29:03what I have to say about that thank you

29:04now let's go over to questions I see

29:06Hamza is here and Hamza has been very

29:08patient they wrote me a question right

29:10at the beginning Hamza says I live in

29:13Norway and I got back from my vacation

29:15in Qatar I come to realize that it would

29:17be easier to start a business in the

29:19Middle East due to the cheap labor and

29:21low tax and massive consumer

29:23Market

29:26um okay well that that's a possibility

29:31um the thing is though okay let

29:35okay okay Hamza let's do a thought

29:38experiment here okay now let's pretend

29:41that that's true okay like it could be

29:42true and I I would not be surprised if

29:45it was

29:46however if that were

29:48true why would people start businesses

29:51in Norway would it be entirely due to

29:53ignorance or to their inability to start

29:57them in guitar is that the only reason

30:00why someone would start a business in

30:02Norway I'm sure you would realize the

30:04answer is no right so there are certain

30:06advantages in starting in Norway right

30:08because a lot of people are deciding to

30:11do that right uh it's not a sort of

30:14thing a principle that applies across

30:15the board now in certain industries

30:18there might be some opportunities

30:19definitely where you can you know you're

30:23you're from Norway or you live in Norway

30:25and you decide okay I'm going to open a

30:27business and guitar I'm going to take

30:29advantage of some business opportunities

30:31in guitar or I'm going to take advantage

30:34of certain business

30:36opportunities that are available to

30:38someone who's based in Norway but

30:42operating in Qatar okay which there

30:45definitely there well could

30:47be right and yes maybe there's like you

30:50know cheap labor low tax that kind of

30:53stuff but I would argue that the most

30:57important

30:58aspect of a business opportunity is

31:02not to do with slightly lower

31:06costs it's to do with Revenue

31:10opportunities okay like you can make a

31:12lot of money with a model right now

31:15obviously you want your cost to be lower

31:18but that's not the most important aspect

31:20the most important aspect is are you

31:21going to be successful can you sell your

31:24offering at a profit and um

31:28you know can you can you sell it at all

31:30like that's those are the three big

31:33questions so uh so yeah that's

31:37interesting um Hamza says drop the link

31:40on the WhatsApp video please well just

31:42okay you see this uh you can see where

31:45my fat finger is pointing right here

31:48I've got two other uh subsidiary YouTube

31:50channels here the company's expert 2 the

31:52company's expert 3 go and subscribe to

31:54those by the way the company's expert 3

31:56the latest video on that channel is this

31:59was up video so you can easily go and

32:01see that I think there's links to those

32:03under in the description box of this

32:05live stream or you could just type in

32:07the company's expert 3 and go right to

32:10it uh Gabriel says just saw you are

32:13online hopefully I'm not too late no

32:15you're never too late Gabriel and with

32:17all the Talking I do you're probably

32:19bored waiting for me to shut up so we

32:21can so I can respond to your question um

32:24thank you for being here Hamza says

32:27would you say that job Seekers are like

32:29entrepreneurs and service providers

32:31they're it's similar it's similar like

32:34you can look at a job

32:36Seeker as someone who's like a

32:39contractor uh because that's what

32:40they're looking for they're looking for

32:42a contract a business arrangement with

32:45an employer where they provide services

32:47to the employer in exchange for

32:50compensation right that's what

32:52employment is so it's just a subset of

32:55being a contractor which is one entity

32:59that you could be in the business world

33:01right so being

33:05um I don't know if you would qualified

33:07as entrepreneur but just being in

33:09business technically it's

33:11entrepreneurship but being in business

33:13involves many different things one of

33:15which I suppose could be straight

33:18employment right not a very interesting

33:20or challenging aspect of being in

33:23business but it is a subset of what you

33:26could do

33:28like for example let's say you're an

33:30employee and that's what you've been

33:32your whole life and let's say you're

33:34still young there's plenty of time to

33:36switch up what you do you know you could

33:38shift from being a straight employee to

33:43being a contractor instead of uh working

33:47full-time exclusively for an employer

33:50you provide your

33:52services uh in contract form to many

33:56employers right right

33:59simultaneously and you're not committed

34:02long term to any one of them right so

34:05like you you morph what you do slightly

34:08you're still doing the same actual thing

34:09but the arrangement and how you provide

34:12your services to an employer changes

34:14right now if you can change what you're

34:17doing to apply to to supply your

34:20services directly to a customer or a

34:25client now it feels more like

34:28a business right because you are uh not

34:31going through an intermediary right an

34:34employer is an intermediary they stand

34:36between you and the customer who's

34:39paying for your value like directly or

34:43indirectly they pay the employer and

34:45then the employer pays you in terms of

34:47like a you know salary or a wage or

34:51something like that

34:52right okay so some people are in are in

34:56a position where they could Supply their

35:00services directly to an employer or they

35:03could Supply the exact same Services

35:05directly to a customer or client lawyers

35:09would be an example of that right you

35:12can work as a lawyer inside a large

35:15corporation where you do your job

35:18dealing with legal issues uh and they

35:21pay you a salary right you could do it

35:23that way or you could do exactly the

35:25same services but provide those directly

35:28to clients if you have like your

35:31independent law practice

35:33right you know ex and and the

35:35independent law practice is is is a

35:37business you're now an

35:39entrepreneur

35:40okay you know so that's that would be

35:43one form of

35:44it so yes your statement is correct

35:47Hamza technically it is correct I don't

35:49think a lot of

35:51employees regard themselves like that

35:53like that but but that is technically

35:56the truth

35:58uh up up down down my buddy there says

36:00back in the job market oh does that mean

36:04uh something didn't work out there up up

36:06down

36:07down uh I'm sorry to hear that uh let's

36:10see if we can fix

36:12that Gabriel says speaking about taxes I

36:15really do not want to start any kind of

36:17business in Italy because once I go over

36:20885,000 I would have to change taxation

36:23policy which would pretty much destroy

36:24the business okay uh going from this to

36:2840% once you pass 85 okay yeah there's

36:31different tax brackets and stuff well

36:33the thing is uh what you do as I'm sure

36:36you know Gabriel is what you do is you

36:39do some Financial projections and these

36:41are going to be similar to what they do

36:42in like term sheets and stuff like that

36:44for investors uh and what you do is you

36:48basically

36:49project you know how you can structure

36:53your business so if you want to stay

36:54below you want to stay within a certain

36:56tax bracket

36:58you know you sort of project that and

37:00and this is how much tax you're going to

37:01be paying and this is how much revenue

37:03you have coming in and this is how much

37:04you'll be able to retain right and then

37:07you'll have another scenario where

37:09you're saying okay let's see if we can

37:10grow the business 10% or something it

37:12pushes us into this higher tax bracket

37:14so we're paying more taxes but our

37:17revenue is also going up now at a

37:18certain point it will make sense to be

37:21in that tax bracket even if you're less

37:23efficient shall we say uh you're paying

37:26a higher percent

37:28it still makes sense to be in that tax

37:30bracket because your absolute uh profit

37:33or something will be will be greater

37:35right so you figure out what those

37:36limits are right and it could be

37:38something saying like Okay if I can make

37:42I don't know 100,000 Revenue a year I'd

37:45be in the lower bracket and that would

37:47make sense but if I make between 100

37:52and0 that would I would end up the loser

37:55I would make actual less uh retainer

37:57ears but if I make more than 110 even

38:01though I'm in the higher tax bracket I

38:02would still make more retained earnings

38:04than I would making less than a 100,000

38:07something like that so you have so you

38:09know this and then you plan your

38:10business accordingly

38:12right you've got to think One Step

38:15Beyond this thinking where you say I

38:18need to be less than

38:20this you need to work some more

38:22projections out and then you understand

38:24maybe the reality so if I can only make

38:28110 I'd be better off just making 100

38:31but if I can make

38:33120 then that's where I need to be and

38:35not just cap what I'm doing at

38:41100 uh ham says any business ideas uh

38:45this is in what context

38:46[Music]

38:48um this was the Middle East thing um

38:52would you say the job Seeker

38:53entrepreneurs and service providers

38:57yeah like like whatever Services you

38:58provide like when you work as an

38:59employee you're providing a service

39:01you're providing your labor you know um

39:03that could be knowledge work like you

39:05know you sit behind a computer in a

39:07phone at a desk uh communicating with

39:10people delivering things to people um or

39:14you work with your hands you know you

39:16create something you do manual labor um

39:20you you have skilled uh abilities to use

39:23tools and to create something right you

39:26know I mean any or all of those you know

39:29would be would be

39:31possible um Gabriel says the difference

39:34is massive I will get the same amount of

39:35money from 85 okay great yeah I mean

39:39like that stuff isn't particularly

39:41interesting uh you know to me you just

39:44figure out what these are you do some

39:46basic projections for you and you figure

39:47out what you need to do and then based

39:49on whether you think you can achieve the

39:52revenue targets that would that would

39:54inform your strategy right

39:59[Music]

40:00um Hamza says what I meant is that your

40:03video is titled signos yeah the series

40:06is title is is titled side hustle ideas

40:09um I mean well listen okay I'll tell you

40:12what here Hamza let's figure this out

40:14what industry are you in what industry

40:17are you interested in let's start with

40:19that are you interested in coal mining

40:21are you interested in uh you know video

40:25games are you interested in

40:28apparel manufacturer are you interested

40:31in um you know safety Consulting like

40:34like what are you interested in let's

40:36start with that and then we'll work some

40:40ideas from that and who am I and who is

40:44anyone else to tell you what would be

40:47the best idea for you you've got to

40:50decide that for yourself now what I can

40:51do is I can give you the formula of how

40:53you figure that out but every person in

40:56the world will have a different answer

40:58to that based on what's right for them

41:01and what talents and interests they have

41:04and what knowledge and experience and

41:07training they've had right you got to

41:09take all that into account to figure out

41:11what's the right thing for you to do and

41:14then you got to figure out what are the

41:16opportunities in that area and are they

41:19worth pursuing so that's a lot of

41:22thinking work to do some of it you can

41:25do just by going inside yourself and

41:27figuring out what you want to do some of

41:29it requires data from the from the

41:33outside you have to go to the into the

41:35real world and look at like what

41:36opportunities are there right so the

41:39answer is going to be a distillation of

41:41all those things right now I can help

41:43you with the process but I can't give

41:45you an answer that's going to be right

41:46for

41:47you and I don't agree with people that

41:49say oh yeah well you know Drop Shipping

41:51is good and uh you know you could always

41:54be a tutor and uh you could always teach

41:56courses on you know no yeah you could

41:59just open like the equivalent of the

42:01Yellow Pages and start going randomly

42:03through different occupations and say

42:05you could do this or you could do that

42:07it's like that's that's unhelpful you're

42:09not going to come up with something that

42:11makes sense for you by doing

42:15that that's my opinion that's my take on

42:17there's plenty of other people out there

42:19that will be able to Rattle off some you

42:22know things like YouTube channel you can

42:24do a YouTube channel but you know if

42:27it's easy there's a flip side to that

42:30and that is that if it's easy for you

42:32it's easy for everybody else and you got

42:34a lot of competition right if

42:37it's if it's less

42:41prominent and not as

42:44easy obviously that's a challenge for

42:46you but it's less prominent and less you

42:50know easy for everyone else so you have

42:52less competition maybe there's

42:54opportunities there it's it's not as

42:56simple as people make it out to

42:59be um Gabriel says the difference is

43:03okay we we did that Hamza says what I

43:05meant uh so I thought maybe you would

43:07have business ideas I have many business

43:08ideas but are they right for you no no

43:12they aren't and how would I know what's

43:13right for you or the hundreds of people

43:16that watch these

43:19streams I mean uh we can easily bang off

43:23some some ideas like I just said but

43:26it's stupid because most people will not

43:29be right for the they will not go off

43:31and succeed they will try it and fail

43:34that's that's the

43:37problem uh clay mining getting clay from

43:40the ground to sell it at the market how

43:41do I know if they are worth pursuing and

43:43if there are opportunities well okay I'm

43:46assuming you picked clay mining because

43:48you know something about clay mining you

43:50have some experience with Clay mining

43:52right okay so my first question is first

43:56of all I'm also assuming you're

43:57passionate about it right because

44:01whatever you pick you have to have some

44:03interest in it because if you find it

44:05totally boring and tedious you're not

44:08going to get very far you have to have

44:10some inherent interest in the thing

44:13you're doing because it's not going to

44:16be successful from day one and it's

44:18going to be it's going to look kind of

44:20depressing and pessimistic at times so

44:23you have to have enough natural interest

44:25in it that you would want to persist

44:28okay so I'm making the assumption that

44:31that's how you feel about clay

44:34mining okay now what have you done what

44:37experience do you have with Clay mind do

44:39you know nothing about it have you have

44:41you had a job where you work in a clay

44:43mine or do you know anyone in your

44:45family that has done it the first thing

44:47to do would be to learn that business

44:49okay so if you don't know anything about

44:52it you're this is a totally new thing

44:54for you what I'd recommend is you go out

44:57out and do an informational interview

44:59with someone who knows about clay mining

45:01maybe somebody who runs a clay mining

45:04operation and this is something that is

45:06very easy to do if you know how to get

45:08an informational interview uh you can do

45:11this if you're an introvert you don't

45:13like talking to people you can set this

45:15up by using Google Maps and Linkedin

45:19okay and if you want to know what that

45:21looks like I have a link to a video

45:23where I show you how to do this uh with

45:25screenshots and everything

45:27it's called how successful people get

45:29jobs it talks about how to reach out to

45:32organizations how to discover who the

45:34who who does clay mining you you

45:37wouldn't maybe you don't know that but

45:39it can help you find who are the clay

45:41mining people around you it can help you

45:44contact them and it and and set up like

45:48an informational interview with them

45:49where you learn about it and then you

45:51can ask these people anything you want

45:54you know where's this industry going

45:55what are the opportunities what how do

45:57you do clay mining how do you guys do

45:59clay mining

46:02right

46:03[Music]

46:05um yes I do love it okay so this will be

46:08a labor of love so if you're passionate

46:10about it you start by talking to 20

46:12people that are in the clay mining

46:14business either they own the companies

46:16or they're like they're at the top or

46:18they're right at the bottom they're

46:19doing the clay mining right how do you

46:21do it can I uh can you show me how to do

46:24it or can you tell me about it people in

46:26the middle can you give me a tour of

46:28your clay mining uh operation if you're

46:31really passionate about this and you

46:33want it to be like a lifelong thing if

46:36if that's where you're thinking of

46:37taking this I would recommend you try

46:39and get a job in clay mining work a job

46:41for six months you'll be on the inside

46:43of it you'll learn everything there is

46:45to know about clay mining you'll see how

46:46it's done from the inside out and then

46:48you could use that knowledge to go in

46:50your own Direction after that talk to

46:53the people who uh are up and down the

46:56supply chain for clay for clay mining

46:58who are the people that buy the clay or

47:00whatever like you know after its mind

47:03who are the people that process it who

47:05are the people that uh fashion it into a

47:08product uh that is then sold and who are

47:11the customers or clients for that are

47:14they industrial customers or are they

47:16you know consumers like like I don't

47:18know anything about clay mining but this

47:20is what you would find out this is all

47:23the people you would talk to and in

47:25talking to them and asking questions

47:28like saying what are the opportunities

47:30that are coming down the pike for clay

47:32mining as an industry in your opinion by

47:36asking a question like that to all of

47:38these people you will get some insights

47:41into that right and then when the person

47:43is right there in front of you and they

47:45say something like well you know I mean

47:47I own a clay mining operation um but the

47:50problem is there's many different types

47:51of clay and we don't always have the

47:53clay that our customers want they they

47:56don't just want one type of clay they

47:57want many different types um you know

48:01while the person is right in front of

48:02you you say something like well that's

48:04really interesting because I might be in

48:06a position to start up a small clay

48:08mining operation now if I could Supply

48:10you that type of clay or whatever it is

48:13that they were talking about would that

48:16be worth anything to would that maybe be

48:18something that's that we should take the

48:20trouble to explore you know something

48:22like that so there that's how you can

48:24Surface opportunities right there when

48:27you're talking to these

48:28people okay I mean I could go on but

48:31like I don't know anything about clay

48:32mining but this is kind sort of like the

48:34general process of how you would get

48:37into it how you would learn about it how

48:39you would find opportunities in that and

48:42how you would get the skills to exploit

48:44the

48:46opportunities it's one way of doing

48:48there's other ways of doing it too but

48:49but this is this is one of the easier

48:52ways where you just speak to people you

48:55you ask some questions you talk them you

48:59learn

49:01um right so the the answers you're going

49:03to get to those questions are going to

49:06be far better quality than I could ever

49:09give you or any other like influencer

49:12you know type person could give you

49:14because they can give you very general

49:15recommendations but they don't they

49:17probably don't know anything about clay

49:18mining nor do they know about the

49:20aspects of it that you would really

49:23enjoy doing or you would have any talent

49:25in doing right right this is how you

49:28find out a custom Solution that's

49:30tailored to

49:31you

49:35right okay um Hamza says my father is a

49:39ceramic artist and we buy clay with our

49:40clay supplier and I'm a ceramic

49:42instructor okay uh there is no clay

49:44mining in Norway and there's there is in

49:47Germany and Spain and even China and USA

49:49but not my

49:52area Okay um yeah so like it's that kind

49:56of thinking hopefully you get the point

49:58right um it's just very amateur and

50:01basic to say like well you could start a

50:03YouTube channel you could you know you

50:05could do Drop Shipping you could you

50:07know know I mean like yeah you know

50:10chances are you will try those one will

50:13try those and it won't work because it's

50:15not something you're interested in it's

50:17not something you're have any abilities

50:20in or even want to do you know what I

50:24mean right and the simpler something

50:26thing is and the easier it is to get

50:28started what you can be sure of is the

50:30more competition you're going to have so

50:32it kind of neutralizes the fact that

50:35it's simple to start

50:40right okay so I would encourage you

50:43Hamza to to pursue this you know to try

50:47and go out there and get answers to

50:49these start connecting with people in

50:51that business that can help you that

50:54that have knowledge that you would like

50:56to have

50:58everything you need to know to be the

51:00clay mining King is in the heads of

51:04these various players in that business

51:08okay either people that do it do the

51:11mining themselves or they work upstream

51:14or Downstream of that in the value chain

51:17so they don't mine the clay but they buy

51:20the clay and then they use it to make a

51:23product like you were saying you know

51:25what you do um

51:27is it something you do with your dad

51:28where was that that was somewhere in

51:29here you know or like like you you

51:32mentioned being a ceramic instructor so

51:34it's like you're connected to it but but

51:38you're not doing the

51:39mining supplying manufacturing

51:42transporting or selling of it you're

51:45you're providing almost consulting

51:47services that are ancillary to that

51:50business you know something like that

51:51right um you know what I mean so you

51:54would talk to all these players at every

51:57um level in that in

52:01Industry if you wanted to really fully

52:04explore this and and find any

52:05opportunities

52:07right and as you connect to them they

52:11become your connection so you have

52:14access to those people right and it

52:19builds the perfect network engineer good

52:21evening sir subhajit from India well

52:24thank you subab thank you for being here

52:28yeah so learning business is uh really a

52:31useful skill like imagine if you

52:33could if you knew how to get any type of

52:36information uh and you could get it and

52:39you can it's just a question of are you

52:43first of all do you know what to do and

52:45then if you know what to do are you

52:47willing to put forth a little bit of

52:49effort to go and get it right you know

52:52maybe it's Saturday and normally you'd

52:54have the day off and you could sit on

52:55your butt you can watch TV or play video

52:58games or you whatever you do hang out

53:00with your friends but instead you say no

53:03I'm going to go I have a meeting booked

53:06with the owner of a clay mining

53:10operation nearby and I'm going to go and

53:13I'm going to get dressed up in my fancy

53:14clothes and I'm going to go and meet

53:16with them on the

53:18Saturday instead of hanging out with my

53:20friends and partying and doing my

53:23hobbies and you know just relaxing I'm

53:25going to do that

53:27right you know a lot of people are

53:29unwilling to do that and if you are

53:32willing to do it because you're

53:34passionate enough about it then you have

53:37a real opportunity before you you have a

53:39way to also beat people who might be

53:45smarter than you they might have better

53:47education than you they they might have

53:49had better employment experience than

53:51you but you can be the one that wins

53:54because you're willing to put in the

53:57time to do things like this to learn and

53:59if you keep doing that over the years

54:02you know or as time passes you will

54:04learn an incredible amount that will

54:07give you the

54:08edge and then you can decide you can go

54:11into business and Clay Mining and build

54:13your fortune that way or you could just

54:16have your dream job if that that's more

54:17of your goal like I want to work in clay

54:20mining but I you know I don't know where

54:22the jobs are I don't I'm sure these

54:24people are hiring but I never see any

54:25jobs posted how do I get in you know and

54:27you talk to

54:29them right so it could go in many

54:31different ways but this is just basic

54:33sort of networking skills and doing

54:35informational interviews that will open

54:38up a lot of doors for you and you gain

54:40knowledge and you gain

54:43connections every person you meet you

54:45end the meeting by saying if I have any

54:49other questions in the future would I be

54:50able to give you a call is is that okay

54:52and 99% of the time people say sure and

54:55they might they'll give your their card

54:58then here you go here's the CEO of a

54:59clay Mining Company you got their card

55:01and you can call them up

55:03anytime not that you want to abuse that

55:05but you know but you can you can call

55:07them up in the

55:08future I mean that would be worth

55:10something

55:11right so this is this is one way in

55:14another way is if you're more

55:15extroverted you go down to events

55:17industry Events maybe there's a clay

55:19mining Association trade show or

55:22something where all the players in the

55:25clay mining industry or maybe mining or

55:27something they all have like a trade

55:30show all the companies that sell mining

55:33equipment all the institutional

55:35customers for mining are there all the

55:39mines are there all the Ser mining

55:43services companies that service the

55:45mines are all there this is like the

55:47center of that industry and you go down

55:51and you bring a stack of business cards

55:53and you meet with all these people and

55:55you see the latest uh technology the

55:58latest trends you you know you listen to

56:01a couple of keynot keynote speeches or

56:03whatever uh and then you go around and

56:05you meet all these

56:06people you collect all their business

56:08cards you call them up and you can ask

56:10them questions um you know like like

56:14there's there's other opportunities

56:16there but that's more for more

56:17extroverted people you'd have to be the

56:20type of person that enjoys going to

56:22Industry Association events and things

56:25um

56:26you know there's there's things like

56:28that happening in your town right now

56:30for all different industries that you

56:32never considered so there's

56:35opportunities there too and that's where

56:37you can like learn about opportunities

56:39and you know of stuff you're interested

56:45in so there you go so hopefully that

56:48makes sense we've reached the end of the

56:50chat I see there's 26 people

56:52here my microphone is kind of dropped

56:54down here I'm just going to readjust

56:56this is this better now you can hear me

56:59a lot

57:00clearer uh yeah uh get in the chat if

57:03you have any questions or anything like

57:05that uh something you're wondering

57:07something you're wanting help with let

57:09me

57:11know uh if I don't get anything in the

57:13next s of 30 seconds I'll probably

57:15probably have to wind this down but um

57:18yeah I highly encourage you uh learn

57:20business I've created like I said before

57:23I've

57:24created my uh version of this which is

57:29the best bang for the buck you're going

57:31to see for this kind of things which is

57:34that right you want to learn business

57:37this is a great way to do it it's super

57:40cheap if if you're not interested you're

57:42probably not going to persist with it

57:44but if you are interested this is a

57:46great opportunity you learn all the

57:49stuff that you would learn in a

57:50full-blown masters of Business

57:51Administration course now the beauty of

57:54doing it with my program is that there

57:56are no evaluations there's no tests

57:58there's no exams uh if you just wanted

58:02to skim the material just get a basic

58:05overview of like what everything is you

58:08can do that if however you did want to

58:11go really deep and get the same level of

58:14knowledge that you would have in say a

58:16university program you can do that too

58:18you could like read every page of every

58:21textbook you can do every problem every

58:23case study right there's answer keys and

58:26all this kind of like you could go

58:27through that if you're interested you

58:29really want to learn it properly you can

58:31do that too but you don't have to that's

58:34the thing if you only have one hour a

58:37week to devote to this that's fine if

58:40you however uh are between jobs and you

58:43know you're on a bit of a sabatical and

58:44you just want to do some training and

58:46you have five hours a day to do this you

58:49can do that too it's very flexible it's

58:51on your own schedule it's all on your

58:53own

58:54terms and it's all for $100 us so I mean

58:57if that's what you're looking for if

58:59you're looking for that type of

59:01solution uh this allows you to learn the

59:04knowledge and get the same result that

59:07you would if you took a university

59:09program uh you don't get the accredited

59:12certificate at the end that's the catch

59:14so you're not going to impress anyone

59:15with a piece of paper but that's not

59:17what this is for this is for people who

59:18want the

59:20knowledge specifically that's the value

59:22for them not the piece of paper so they

59:26can say they're valuable you know

59:29there's a lot of people with NBAs out

59:30there it's not this magic bullet that a

59:32lot of people think it is in terms of

59:34like your your

59:36credibility um but if you just want the

59:39knowledge I'm pointing the wrong way

59:41this is the thing to

59:44get um Gabriel says in your opinion is

59:48it easy to create a legal entity in

59:50another country to avoid taxes I have

59:52never tried to do that so I probably

59:56wouldn't be the best person to ask um I

1:00:00don't think it's that hard but I've

1:00:02never done

1:00:03it I know a few people who I think have

1:00:06done that uh so it doesn't seem that

1:00:10hard but um but

1:00:15yeah uh Gabriel says once a business

1:00:17takes off yes I mean once a business

1:00:19takes off when you have money coming

1:00:21in you can you can do anything right you

1:00:24just if you don't know how to do you

1:00:26just pay someone to do it you know what

1:00:27I mean like it's not a challenge once

1:00:29you have money rolling

1:00:31in um D Snider is here right on right on

1:00:36d uh D says I'm 50 starting over making

1:00:40$50 an hour out of

1:00:42Pharmacy that's uh I take it that you're

1:00:45not happy with that D you want you're

1:00:47hoping for something more um yeah you

1:00:51know it depends with what your goals are

1:00:54like what like what are your goals and

1:00:55and what's what do you want to do what

1:00:58do you see as the uh thing holding you

1:01:02back because if it's a lack of knowledge

1:01:05or education or training you

1:01:08know you know 50 isn't past it you know

1:01:11and I'm speaking as a 50-year-old it's

1:01:13you're not past it you got a lot of

1:01:16years left you got a lot of energy left

1:01:18you got a lot of time left you know you

1:01:20can still do some stuff

1:01:22so you know uh

1:01:26like listen you know life isn't all

1:01:29about you know jobs right there's other

1:01:32things in life right you know we have

1:01:35relationships we have children we have

1:01:37you know other things we have goals that

1:01:39don't involve making money directly you

1:01:42have other accomplishments and things

1:01:44some people uh you know you have other

1:01:48challenges it's it's not about like a

1:01:50goal that you have some lofty goal it's

1:01:52it's that you're struggling with a

1:01:55challenge that maybe most people don't

1:01:57have you know so there's other things

1:01:59that get in the

1:02:01way and

1:02:03uh you know I I know it's such a cliche

1:02:06I'm so bad at giving life advice I'm not

1:02:08trying to do that but it's like that

1:02:10whole thing that you know the the race

1:02:12is long and in the end it's only with

1:02:14yourself that's true I can tell you

1:02:18um you know not not to turn this into

1:02:21being all about me or anything but it's

1:02:23like I threw away

1:02:26a a corporate career because I was

1:02:28disgusted with it that's why I do what

1:02:31I've been doing the last 10 years you

1:02:34know I've been on YouTube for about five

1:02:35years and before you know and before

1:02:38that and also right now I do Consulting

1:02:40and things because I was done working

1:02:42for like working as a

1:02:45manager um you know what I mean so so

1:02:49stuff gets in the way and sometimes our

1:02:51personalities get in the way or our

1:02:53sense of Ethics however you want to look

1:02:55at it right uh you know what I mean so

1:02:58don't compare yourself to other people

1:03:00it's only with yourself now now what

1:03:02would you like to do you know um if if

1:03:05there's something you're there's a

1:03:07specific goal that you have and you know

1:03:09you can maybe sort of get an idea of

1:03:12what the road map is if you need to go

1:03:13back to school or you need to do certain

1:03:15things tack on some skills you

1:03:20know uh D Snider says tell me to start a

1:03:23podcast appreciate your show

1:03:26uh hey you know like if you want to

1:03:28start a podcast go for it I like we were

1:03:30talking about stuff earlier in this

1:03:32stream where you know we're talking

1:03:35about examples of side hustles things

1:03:38you could do right

1:03:40now I ironically don't know much about

1:03:43podcasts I I I do these live streams but

1:03:45I don't know about any other aspect of

1:03:47like the podcast world or ecosystem or

1:03:50how people make money with it I'm like

1:03:53I'm not the guy to ask for that but uh

1:03:55for example if you were to try and start

1:03:57like you know a

1:03:59podcast I imagine it's similar to a you

1:04:01YouTube channel in that you're trying to

1:04:03build an

1:04:04audience now if you build an audience

1:04:07you're learning about how to appeal to

1:04:09people when people hear you they go H I

1:04:12like that I'm tuning in and I'm going to

1:04:14be a regular listener right you learn

1:04:17about how to have that effect on people

1:04:20now knowing how to do that can serve you

1:04:23well in other aspects of life too right

1:04:26if you know how to appeal to

1:04:28people you could translate that into

1:04:31your career you could you know you could

1:04:34like do job interviews for jobs and get

1:04:36the job because you appeal to the

1:04:38recruiter or you could start another

1:04:40type of business maybe you know I don't

1:04:42know you you start up by selling stuff

1:04:44out the back of your truck or something

1:04:46and or you open an online store or

1:04:48something but you appeal to people and

1:04:49they start buying your stuff and you

1:04:50start building a bit of a business

1:04:53operation that that's making you money

1:04:55whatever

1:04:56you know these are skills that you tack

1:04:58on so if you have a passion for doing a

1:05:01podcast or something like that you know

1:05:03uh I I wouldn't discourage you you know

1:05:06from it it can be the thing to help

1:05:08launch you on this uh

1:05:13trajectory um D says trying to figure

1:05:16that out absolutely I was kidding about

1:05:19okay okay no problem but whatever it is

1:05:21you know like um you know now listen D

1:05:25if if you're wanting to share more we

1:05:28could get into it you know like if you

1:05:29want to give me a bit more details what

1:05:32do you think you need to do to be where

1:05:34you want to be where do you want to be

1:05:37let's start with that and then let's and

1:05:39then next if you could say what you

1:05:42think is the right path to get

1:05:44there we could talk about

1:05:47that excuse me Hamza says when should

1:05:50someone consider getting funding in

1:05:52exchange for Capital isn't it hard to

1:05:53get funding in the preed stage I I would

1:05:56I would uh this this is my advice to you

1:05:59Hamza this comes from about 25 years of

1:06:04Consulting on startups and things in

1:06:07various

1:06:10capacities forget

1:06:14funding

1:06:17okay it is a

1:06:20trap

1:06:22see what happens is you end up there

1:06:24there's several traps within this big

1:06:27trap one is that it distracts you from

1:06:31the only question that matters when

1:06:35starting a business which is how can I

1:06:38become Revenue positive and then how can

1:06:40I generate a

1:06:41profit okay how can I make

1:06:46money when people give you

1:06:50financing okay now we're talking about

1:06:52startups we're talking about something

1:06:53that you can do yourself as an idual

1:06:55we're not talking about business in

1:06:57general we're talking about startups

1:06:58which is a subset of business um when

1:07:02somebody gives you money either the

1:07:04government or a bank Like A lender they

1:07:07lend you money

1:07:09um the biggest effect that has is it

1:07:13distracts you it it it fools you into

1:07:16thinking that you're successful which

1:07:18you are

1:07:19not you would actually be more

1:07:21successful if you didn't take the money

1:07:24because now you're in debt debt right

1:07:26not only do you have not you do not have

1:07:28money coming in through sales but now

1:07:30you are in debt okay so you're even

1:07:33further behind and what I've seen time

1:07:36and time again is that it lulls people

1:07:38into a false sense of security they

1:07:40start blowing that money on stupid

1:07:43stupid crap they create websites they

1:07:46rent themselves office space they you

1:07:48know start hiring employees and other

1:07:51things but yet they haven't made a scent

1:07:53and they don't even know if

1:07:56their plan is going to succeed if they

1:07:59if even on the right track they don't

1:08:02know that

1:08:03yet okay so that would be my advice if

1:08:07you're a startup type

1:08:11situation forget about funding forget

1:08:13about financing forget about Investors

1:08:16or like all that

1:08:17stuff go out and try to make money you

1:08:22know you don't need anything to try that

1:08:25like for example let me illustrate that

1:08:28go to some place on the internet a group

1:08:32a chat room I don't know some place

1:08:34where certain types of people congregate

1:08:37right and do a post like an announcement

1:08:41say I have this I'm selling this is

1:08:44anyone interested here's the thing

1:08:46you're getting here's how much it costs

1:08:49here's how to buy it here's uh you know

1:08:52what's going on it's like this is a a

1:08:54pre-sale you know or whatever you want

1:08:56to call it you know just like you do at

1:08:58a store you know you're not allowed to

1:09:00go into a store take the product home

1:09:02with you and try it out before you pay

1:09:04you have to pay up front and then you're

1:09:06allowed to leave the store with it right

1:09:08if you're ordering something from Amazon

1:09:09you have to pay up front and then

1:09:11they'll send it to you right so you do

1:09:13the same thing you say okay I've got

1:09:15this I'm offering this if you pay me now

1:09:17then I will send you this in this amount

1:09:19of time right and see how many people

1:09:22buy

1:09:23it now if nobody Buy is it you don't

1:09:25even get like any questions or anything

1:09:28about it like nothing that tells you

1:09:30something if on the other hand 15 people

1:09:33just bought it like in advance they said

1:09:36I want that here's my money and they've

1:09:38paid you like a 100 bucks each or

1:09:40something like that right now you have a

1:09:43much simpler problem now you have to

1:09:44like now that you've received all this

1:09:46cash now you have to deliver on your

1:09:48promise you have to create this thing

1:09:50that you said and then Supply it right

1:09:52that's a lot easier of a challenge

1:09:55at least you know that you know there's

1:09:58a demand for this and there's a need for

1:10:00it and you seem to have found somewhat

1:10:03of the right price point for it you know

1:10:05what I mean you're further along so I

1:10:07would do something like that before i'

1:10:10take any kind of financing or anything

1:10:11like that in the beginning right you

1:10:14still have the single biggest challenge

1:10:16ahead of you which is how do I make

1:10:17money right it it complicates it when

1:10:20you're now in debt it puts more pressure

1:10:23on you

1:10:25you know you better figure this one out

1:10:28because you got to pay back your debt

1:10:30right so it's better not to have

1:10:36that and if you're in like a desperate

1:10:39situation you need money I would just

1:10:40get a job I wouldn't try any of this

1:10:42because it'll be less risky than doing

1:10:43something like

1:10:44this this is only if you have a passion

1:10:47and a goal and you have time on your

1:10:51hands um D Snider says uh so no Hamza

1:10:56says to oneman show yeah yeah this is

1:10:58like we're talking about like startups

1:11:00here um obviously investment is a thing

1:11:03obviously you know taking out loans for

1:11:06businesses is a thing to finance certain

1:11:09things I still believe what I kind of

1:11:12said about the startup thing too many

1:11:14businesses borrow too much it become

1:11:17self-defeating they end up working for

1:11:19the banks every bit as much as

1:11:21individuals do who are in debt you know

1:11:23um but the businesses are different

1:11:26because you get individuals cycling in

1:11:28and out of the business so they're not

1:11:29there long enough for them to really

1:11:31care about the long term you know

1:11:33there's all kinds of stuff there

1:11:35anyway um D Snyder says I was kidding

1:11:38about the podcast learn something new

1:11:40that won't be Irrelevant in the next 5

1:11:43years okay that's a start do you have

1:11:46any more

1:11:49specifics like okay if you just gave me

1:11:52that and there was no other details I

1:11:54would say learning soft skills like

1:11:56communication

1:11:58skills that alone would fulfill

1:12:03this so communication skills you may not

1:12:06know this or you might know this but I'm

1:12:08going to assume you don't uh here's what

1:12:10it is for the people who don't know it's

1:12:13easy to just blurt out your thoughts

1:12:16okay that's not what communication

1:12:17skills

1:12:18are have you ever been around a

1:12:21technical type person that they know

1:12:24what they're doing from a technical

1:12:26sense but

1:12:28they're they're kind of a jerk they're

1:12:30blunt they're

1:12:33abrasive you don't necessarily like

1:12:35being around them and talking to them

1:12:37because they're Gruff they don't make

1:12:39you feel particularly good it's kind of

1:12:42you feel a bit nervous dealing with them

1:12:45because they're blunt and they're direct

1:12:47and they don't they don't do things like

1:12:51say please and thank you they don't pay

1:12:53attention to how you feel when you're

1:12:55talking to them and you go away thinking

1:12:58like uh I got my answer but that wasn't

1:13:01fun right communication skills are the

1:13:05ability to communicate with somebody

1:13:07first of all so it's clear but also so

1:13:10that the other person goes away having

1:13:13enjoyed the

1:13:15encounter and they think you're

1:13:17awesome

1:13:19right for example let's say you're at

1:13:22work and you have a coworker and you

1:13:25have a technical question hey John how

1:13:29do I do

1:13:30this and John turns around he says well

1:13:33like really really I'm in the middle of

1:13:35stuff you're asking me a question okay

1:13:36listen here's what you do you do this

1:13:38okay right now go

1:13:40away you got your answer

1:13:43right that's bad communication skills if

1:13:47you turn to John and you say hey John

1:13:49how do I do this and John says oh oh oh

1:13:52you're struggling with that too okay no

1:13:54problem listen a lot of people have that

1:13:56problem here's how you do it you do this

1:13:59this this this does that make sense

1:14:01right you got that okay no problem you

1:14:03do that and you'll be you'll be uh you

1:14:06know flying high and you'll be

1:14:08processing these work orders in record

1:14:10time before you know it okay yeah take

1:14:12care you know something like that

1:14:15right you go away you got the same

1:14:17technical information but you go away

1:14:19feeling like wow that guy's

1:14:21awesome and I feel good about talking to

1:14:24them I like talking to them and you know

1:14:28I'm

1:14:28successful right that's the difference

1:14:30communication skills make

1:14:33uh it becomes even more important when

1:14:36you have to deliver bad

1:14:38news you know you have to say this

1:14:40wasn't successful or I can't do that for

1:14:42you or you know I'm too busy I can't do

1:14:45that

1:14:46unfortunately you know the odds are that

1:14:49somebody is not going to like hearing

1:14:51that okay so they're probably going to

1:14:53go away and because humans are emotional

1:14:56beings uh they're going to think I'm

1:15:00upset and I don't like him right that's

1:15:04that's what what they're going to get

1:15:05out of it

1:15:07right so do they want to come to you in

1:15:10the future do they want to do they think

1:15:12of you and they think like okay I need

1:15:14to promote somebody who can I promote

1:15:16who do I want to work with on my team

1:15:19are they going to pick you probably not

1:15:21but if you have good communication

1:15:23skills

1:15:25they'll probably will pick you they'll

1:15:26want to work with you they'll want to

1:15:28hire you they'll want to give you

1:15:30opportunities so for that reason if you

1:15:33just left it General and said like I

1:15:35need some help I need to work on

1:15:38myself and I didn't know any details

1:15:40about you I would say work on your

1:15:42communication skills make a great

1:15:44impression if everyone you meet and

1:15:47everyone that encounters you goes away

1:15:49thinking wow D Snider is awesome you

1:15:53know uh that would be a very very useful

1:15:58thing they also think like wow D is not

1:16:02only awesome to talk to D knows their

1:16:05stuff and they're reliable and I trust

1:16:07them and I can trust them with things

1:16:10and I know they're not lying to me I

1:16:11know that if they say they're going to

1:16:13do something they'll do it right all

1:16:15those other stuff all those other things

1:16:17come too right imagine if you could give

1:16:20that impression to everyone that you

1:16:22came into contact with

1:16:25that would probably be good right so

1:16:28uh so that's something that you could

1:16:31start with if if you don't you know have

1:16:33any other more specific ideas maybe you

1:16:36do but I'm just saying that's something

1:16:37that I think everyone can always improve

1:16:39with and me

1:16:43included um you know yeah you could like

1:16:46learn technical skills and stuff like

1:16:48that uh another thing that would be you

1:16:50really useful to learn is networking

1:16:52skills that that's closely tied to

1:16:53communication skills like how

1:16:56to talk to the people who make the

1:16:59decisions and if that's coupled with

1:17:02great communication skills and you have

1:17:03like you know you worked on your

1:17:05charisma and this kind of stuff that can

1:17:07really open doors

1:17:11right so uh so maybe it's Food For

1:17:18Thought Hamza says I'm really against

1:17:21getting loans from Banks but I was

1:17:22referring more to getting fund funded by

1:17:24agel investors yeah uh that works

1:17:27differently depending on what industry

1:17:29you're in and where you are in the world

1:17:31like it works quite a bit differently uh

1:17:33generally Angel Investors are like often

1:17:36you know um High net worth individuals

1:17:39either they're like detached from what

1:17:41you're doing like it's like a rich

1:17:42doctor that wants to invest some of

1:17:45their money into more risky high-risk

1:17:47things like startups or uh it's somebody

1:17:50like in the

1:17:52industry like the CEO of a clay mining

1:17:56company that's going to invest in a twom

1:17:59man operation or twers operation from

1:18:03some startup Founders that are going to

1:18:04work in the clay mining business and

1:18:07they'll start by being the contractor

1:18:10for that CEO you know what I mean and

1:18:13the CEO is the the reason why you would

1:18:15want to do that is because the CEO is

1:18:17not just a source of money the real

1:18:20reason is that they're the source of

1:18:21information they're advising you they

1:18:24can doors for you they have connections

1:18:27they can get you started get you your

1:18:29first customers and Things based on

1:18:31their recommendation stuff like that

1:18:33that's that's why you would do it now if

1:18:35you move in those circles great totally

1:18:38something you want to try and pursue but

1:18:42if you're kind of an introvert

1:18:44networking is not really your thing you

1:18:46don't know anyone like that already you

1:18:47don't know any Rich doctors and things

1:18:50that are just looking for things to do

1:18:51with their money um you know I would say

1:18:56all things being equal focus on the

1:18:59business proper than focusing on that

1:19:02world that's what I would say the other

1:19:05thing about Angel Investors and all and

1:19:07investors in general is that the moment

1:19:09that you don't need them that's when

1:19:10they show up the moment that you've got

1:19:13it all figured out and you got the money

1:19:15rolling in that's when they show

1:19:17up before that when you really actually

1:19:20needed them they're not interested

1:19:23because you're too risky because because

1:19:24you haven't got it figured out yet you

1:19:27don't have the money rolling in thus

1:19:28proving you know what you're doing

1:19:30that's the irony of the whole thing

1:19:33right now obviously there's exceptions

1:19:35if you're you know highly networked and

1:19:37you're very extroverted and you got all

1:19:38kinds of connections yes you can

1:19:40definitely pursue this and it will work

1:19:43but for a lot of people that are like

1:19:46this crowd like on the YouTube people

1:19:48like me that are technical

1:19:51introverts you don't do that stuff for

1:19:53fun

1:19:55uh you know it might be just a better

1:19:59use of your time and resources to figure

1:20:01out what to do how to make money and

1:20:03start making money and once it's rolling

1:20:06in then you worry about bulking up like

1:20:08growing your business and you don't you

1:20:11don't need in you know investors you're

1:20:14not spending $100,000 to get you started

1:20:16you know what I mean like you figure out

1:20:19how to do something that doesn't require

1:20:21that much Capital outlay At the

1:20:22beginning right like we talked about

1:20:25YouTube channels and things you know

1:20:27things that you could just do with

1:20:29practically no cost you

1:20:32know focus on that and making it work

1:20:36and that'll be a better use of your

1:20:40time

1:20:41uh Gabriel says probably knowing basic

1:20:45Tech skills as well just the basics of

1:20:46how to use a computer yeah yeah I mean

1:20:48there's there there a whole bunch of

1:20:50things knowing the basics of how to read

1:20:51and write also I mean there's so many

1:20:53things you could say there

1:20:57uh D says interesting show I will keep

1:20:58watching and sharpen up my questions

1:21:00well thank you D yeah you know

1:21:02um I do this every week feel free to

1:21:05come back next week same time and uh you

1:21:09know if you have any more specific

1:21:11questions we can get into

1:21:14it uh if you have any last questions to

1:21:17ask me or anything to say uh now is the

1:21:20time uh if I don't get anything in about

1:21:2230 seconds I'm going to wind this down

1:21:24I'm actually going to wind this down

1:21:25soon anyway but I want to thank

1:21:27everybody who is here you guys are

1:21:29awesome hopefully you're getting

1:21:30something out of this um check out the

1:21:33courses I have check out the videos on

1:21:35my YouTube channel um I end up talking

1:21:40more about jobs than entrepreneurship

1:21:43stuff and business stuff because that

1:21:45seems to be where the demand is um more

1:21:47people are interested in how to get a

1:21:49job than how to start a company but

1:21:51starting like the growing businesses is

1:21:53basically my core competence

1:21:55that's what i' like to talk about more

1:21:57um it's a lot harder to get into it

1:22:00because when you're talking about how to

1:22:02get a job you can break it down into

1:22:04peace meal self-contained things like

1:22:05how to answer job interview questions

1:22:07with business it's not quite that simple

1:22:09everything is connected so it's a bit

1:22:13harder to make it like little bite-sized

1:22:16bits of knowledge that stand on their

1:22:19own that's what I found but I do like

1:22:22talking about this stuff

1:22:25um Gabriel says a bit of a weird

1:22:28question there are there are no weird

1:22:29questions Gabriel just weird people

1:22:31that's all you need to know uh how do

1:22:34you avoid just saying staying

1:22:36disciplined and not be chasing the new

1:22:38shiny

1:22:39thing in what context like in terms of a

1:22:43life goal or uh you know you want to get

1:22:47down to work but you're distracted

1:22:50by Pleasure you know like like ooh you

1:22:54know this new TV show O this new video

1:22:56game I have a hard time putting down my

1:22:58phone or putting down my my video game

1:23:01controller uh is is that what you're

1:23:03talking about

1:23:04[Music]

1:23:06um I'm not sure I really have you know

1:23:09the the authority to to answer that kind

1:23:11of thing I think everyone is going to

1:23:13have their own take on

1:23:15that um I think it starts with the

1:23:18self-awareness to realize that like you

1:23:20know this doesn't make me happy I think

1:23:23it will make me happy so I do it but it

1:23:25doesn't make me happy you know I always

1:23:28feel like I'm a loser like I'm wasting

1:23:29my time or you know whatever it is it's

1:23:33unfulfilling I think it starts with that

1:23:35self-awareness the more self-awareness

1:23:37we have and to recognize that sooner the

1:23:40more we can make a change

1:23:45right uh same to you d d d says thank

1:23:49you have a nice Monday afternoon and I

1:23:51got to say uh you know I saw the movie

1:23:55about Twisted

1:23:57Sister that they they did it a while ago

1:23:59it was called like we are twisted sister

1:24:02and I knew twist the sister from like

1:24:04their big hits in the 80s they had like

1:24:05a couple of big hits like we're not

1:24:06going to take it and stuff like that and

1:24:09what's the other one I want a rock I

1:24:10think uh but they did this movie and you

1:24:13think it's all about their hits and it's

1:24:14not it's all about their their struggles

1:24:18and their story before long before their

1:24:21hits and that was an entire movie in in

1:24:24of

1:24:25itself you know so they could make

1:24:27another movie about their life without

1:24:29repeating anything and it would be

1:24:33awesome so I just want to say

1:24:35that uh Gabriel says yeah there are

1:24:37distractions everywhere especially in

1:24:39the age of social media and stuff like

1:24:40this I was thinking just to create a

1:24:42schedule and stick by it yeah listen

1:24:44different people are going to have

1:24:45different solutions uh what it

1:24:48what it speaking for myself stuff like

1:24:51that sometimes has to come to a head it

1:24:54has to get really bad so that it's super

1:24:58obvious for you to finally take some

1:25:01action on it and when you take action

1:25:04you're not going to do a you know just

1:25:06this little tiny tweak you're going to

1:25:08do a big change because you've seen it's

1:25:11a big problem so it might be simple as

1:25:13like you know I'm going to I'm going to

1:25:15unplug my game console I'm going to get

1:25:17rid of my game console you know or I'm

1:25:20going to just you know uninstall

1:25:25Twitter X and Facebook and you know all

1:25:28these things for my phone like all the

1:25:29games I'm just going to uninstall

1:25:30everything it just it just it's bad it's

1:25:32like a cancer it's it's like uh a

1:25:35narcotic you know in my life that I'm

1:25:38addicted to and it's it it it's

1:25:41unproductive and it and it's taking me

1:25:44away from where I should be you

1:25:47know but I mean I'm not an expert on

1:25:49that kind of stuff I mean it would be

1:25:50interesting to talk to like a self-help

1:25:52type person that might actually be able

1:25:54to give like really really good tips uh

1:25:57you know in that department knowing

1:25:59about your personality and your

1:26:03background and you know the specific

1:26:06thing that's the problem for you you

1:26:07know that would that would might be

1:26:08interesting for for everyone to learn

1:26:11that but I don't see myself as any kind

1:26:14of authority on that

1:26:17um other than what I've said anyway

1:26:21thanks everyone you guys are awesome I'm

1:26:22going to I'll be back next week with

1:26:24another episode of side hustle ideas in

1:26:27the meantime I wish you nothing but

1:26:28success and pursue your goals check out

1:26:32my courses especially that one okay this

1:26:34one teaches you how to do networking but

1:26:36that one is the business one that would

1:26:38be uh really valuable for a lot of

1:26:40people that want to do this stuff you

1:26:41learn stuff the easy way not the hard

1:26:43way I will see you guys next week take

1:26:45care of

1:26:53yourselves for