Asking Billionaires How They Got RICH!

is this your G wagon yeah what do you do for living out in Houston Texas to be able to afford a G wagon sorry what do you do for living out in Houston Texas work hard what industry are you in football what are you doing exactly I own a football team what team Houston Texans you own the Houston Texans htown baby what was the most amount of money that you ever made in a single year oh 12 million let's put it this way my company will do 300 million this year excuse me sir question for

you is this your G wagon yes it is and what do you do for living out here in Houston Texas to be able to afford a G wagon I I'm a doctor what's been the most amount of money that you've ever made in a single year million a year how can somebody own a Ferrari in 2024 two simple things number [Music] one Houston Texas is the number eight City in the entire world with the most millionaires and today we're in the wealthiest part of Houston Texas River Oaks to go around asking multi-millionaires and billionaires how

they became wealthy and how you can start your path to becoming financially free in 2024 so with that being said let's get this video on the way [Music] excuse me sir question for you sir have you ever been broke before Oh man getting on the interview man real quick real quick I started the channel on Austin Texas at the University of Texas just two questions on advice to the younger generation have a good one man can't everybody man but like I always say every know is a step closer to a yes so we're just going

to go get this next one out here in Houston Texas come on question for you is is this is this your Lamborghini yeah are you a business owner by any chance yeah I own a m I work for o gas yeah could I interview you real quick I go all over the country just asking business owners their advice to young entrepreneurs I have a Channel with over 5 million followers could I ask you just a couple quick questions is that cool well no not today just two quick questions then not today I'm sorry excuse me

sir question for you yes sir have you ever been broke before oh God yeah yeah and what do you do for living out here in Houston Texas I restaurant bar right around the corner restaurant business is very competitive what do you do to stand out against 99% of the hospitality business come on you're asking secret questions here yeah I started the channel in Austin Texas I grew up to 5 million followers just asking business owners their best advice to Young entrepreneurs could I get just one or two minutes of your time I'm not young I'm

72 years old and I want your advice for the younger generation of business owners I've interviewed Mark cubin president of Nike CEO Fredo Lake just a couple quick questions be Fearless be Fearless is fear the biggest killer of most businesses businesses in today's world don't be afraid to fail what's the best advice you ever got from a mentor in terms of money or how you were able to make that money work for you is don't deal drugs don't deal drugs do quick last one for you real quick sir is that cool is that okay yeah

what is that fine so what kind of restaurants do you own I own this restaurant right there Barry it's right across the street it's Italian across all your businesses what's the biggest you ever had in business what's the most you made in the year in terms of Revenue oh 12 million $12 million okay last one for you right here right here how did you scale from 7 to8 Figures it's hard to scale businesses what' you do to go from 7even to eight figures just have a good product have a good product how did you find

a winning product though that's enough all right you guys so they got the Mogul out in Houston Texas but it's very hard to get a couple minutes of these people's times these are very high net worth individuals but all you can do is kind of keep crying and keep going until you find one of those yeses and we're going to drop some great game in one of these interviews we just got to go find it and keep it rolling man come on is this your G wagon yeah what do you do for living out in

Houston Texas to be able to afford a G wagon sorry what do you do for living out in Houston Texas work hard what industry are you in football what do you doing exactly I own a football team what team Houston Texans you own the Houston Texans H Town baby and how long have you been a business owner for uh we've had the Texans for 20 plus years over the 20 plus years you've been a business owner what's the greatest lesson that you've learned about entrepreneurship never never quit how did you break into the National Football

League man it's very competitive to try to get into that business how did you break in It ultimately work we have to be able own a team what did it take oh well we were very successful in another business what business and then sold it the power industry sold it and then um my dad actually bought the Texans as a franchise expansion back in uh O2 was our first year what was the best advice that you ever got from a mentor conserve your cash now did you have to borrow money to start and grow businesses

or like there was leverage involved and then opportunities happen you hopefully have some cash you can take advantage of them how old are you now I am 63 but don't tell anyone are you a billionaire I have added it up you're probably deleted though and any negotiation advice somebody they struggle to close deals in business you've negotiated some massive deals what's the secret to negotiating you want to do it but not that bad what do you mean by that you got to be able to walk away or what be able to walk away at the

same time you're going to be able to want to do it absolutely thank you sir I appreciate you thank you hard Kno family we just interviewed the owner of the Houston Texans that guy is more than likely a billionaire and we just caught him getting out of the G wagon going to his appointment at the Rolex store but what did he say was the best advice he'd give to any business owner today today World never ever quit right when people are on the brink of achieving their greatest dreams and the greatest goals that they have

they give up right before it all happens never give up on your dreams guys and you can interview people like the owner of the Houston Texans crazy interview out here in Houston to start the day let's go get this next one fellas come on excuse me sir question for you have you ever been broke give me give me five minutes I got you and then appreciate you my friend I'm working and it's as a cent oh you're good man how you doing and I'm not a millionaire oh okay cool but but uh so I work

at the at the jewelry store and you pass by and somebody actually you and you were like oh that's a oh nice kind ofun sadly I'm not a millionaire yet but I'm working at it so you never know absolutely have you found a bunch of millionaires a couple man I don't know Houston I'm from Austin there's a lot of money here I mean you know you'll you'll come across a bunch I don't know and then maybe that'll help you get something that goes viral and then you'll be the millionaire if you're not already yes sir

we're getting there we're getting there cool yes sir what's your name sir moo moo yes James great to meet you sir nice Hard Knock family my guy just pull up at a Ferrari out here in Houston Texas he's right outside of the Rolex store we're going to go up and see what he was able to do to be able to p a Ferrari out here in Houston let's go see what he has to say excuse me sir is this your Ferrari yeah it is what do you do for living out in Houston Texas to be

able to afford a Ferrari I'm an entrepreneur and how long have you been a business owner for 21 years and what type of business do you run I own a uh labor force management company you can only do so much as one person how important was it for you learning how to master delegation bringing other people and building teams how important is delegation let's put it this way how important is it my company will do 300 million milon this year in Revenue right if I were still doing it all myself we might do three right

one guy can only or gal can only do so much I don't care how talented you are care how hard you work you can only do so much and you got to be honest with yourself you have weaknesses right that's the truth you have strengths and that's great you've got to build a team around you that are going to cover all those weaknesses that you've got help you accentuate and exaggerate your strengths that you have but at the end of the day if you don't have a team that's executing with you and and on your

behalf number one you're going to work for the rest of your life so I wouldn't call you're an entrepreneur I would say you're self-employed you're not building a company that's going to grow and scale and and and live beyond you you're not building anything lasting all you did was create a job for and by the way that's great I know some some people that do a very very good job and they have a very nice living doing just that but if you're going to be an entrepreneur if you're really going to build a business which

I think is create something that lives beyond any one person you got to know how to motivate and Inspire team around you in other words you got to stop being an employee entrepreneur a lot of people they work in the business yeah yeah no you need to be working on the business as a multiple 9figure entrepreneur what's been the best financial advice that you've ever received throughout your career don't be fooled by all the Ferraris and the paddocks and all that BS don't be fooled by that know something every dollar that a company spends must

have an Roi attached to it if you're doing that then you can take and spoil yourself a little bit of that money but as far as the business runs financially no dollar should ever be in spent inside of a business that does not you cannot directly calculate the ROI to that business and have you ever been broke before I think every entrepreneur has been broke before 100% by the way there's there was a point in time I'll never forget this I'd actually made about $3 million a year I think I was 28 years old every

dollar that I made had to stay in the company but yet I had to pay income taxes on that money so I owed like $950,000 income taxes on that money and I had like $10,000 in the bank in my personal account so yeah I I was definitely broke growing up for sure and I'm proud of that because I think had I not gone through that path and and growing up that way I don't think I would have understood people the way I do I don't think I would have had the grit desire and perseverance that

I have today so that's easy to talk about what people don't really understand is that you can make a lot of money as an entrepreneur on paper and be broke financially personally because every dollar that you're making if you're doing the right thing it's got to stay in that company to be able to grow it takes money to make money like I said how did you get the money to start your business like did you have a lot of money when you started this no no we had no money so you have to beg borrow

and steal when you're starting it out right especially when you have no money so I mean you're literally winging it robbing from Paul to pay Peter trying to grow it uh trying to find just enough money to cover your expenses to get through each month and and and then build up those retained earnings so I mean we we had to take out High interest loans uh I loone shark money back then but it was like like you you're factoring your invoices it's like 21% interest rate it's horrible it's absolutely horrible but I'm actually really glad

I did it that way I started out that way and I had to pay those absurd interest rates because it forced me to have the discipline to not take the money out of the business so every week that the company made profit I'd leave that profit in that means next week that's a little bit less I had to borrow and a little bit less and a little bit less and then you look up you know 18 months two years later now you're borrowing very very little on what I call the lone shark money right but

the best part is you've built up your retains retained earnings you've built up your balance sheet now you can go to a bank get a traditional line of credit at 6 or 8% whatever's going on and now you go from 21% interest on your Capital needs to six or eight you've probably got an extra 20 $25,000 a month right back to your bottom line yeah that's amazing you know they don't teach that in school right no they don't teach any of this in school that's the problem that is the big problem that's I think it's

one of the biggest problems in this country is that we're not teaching the things that are really going to change people's lives and and Empower them to listen everybody's got goals and aspirations everybody does very very few people have the discipline and persever it takes to achieve them but when you when you get past even those things listen I had learned these things the hard way I wish this would have been taught in school basic business finance right had this been taught I probably would have been a millionaire probably closer to 24 25 years old

listen I got there 28 I'm happy about that but I think I yeah I I think it could have happened I know I know it would have happened much sooner had I understood those principles of business last week before you 45 today for young 20-year-old kid watching this right now they want to own a Ferrari in today's world this is a lot of people's dream car you're sitting in right now sure how can somebody own a Ferrari 24 two simple things number one find something you're truly passionate about everything else after that is secondary You'

got to be passionate about it that's number one number two you just don't ever quit I tell people all the time I wasn't always the smartest person in the room I was just the SOB that refused to quit I love it thank you so much for your pleasure brother absolutely have a great day hard KN family we're on the way to go get our next interview right now but I've got a very special announcement to make last week we just launched our official entrepreneur Community otherwise known as the school of mentors inside of this community

I'm hosting a live call every single week with the multi-millionaires and billionaires that you see us interview every week on the channel you'll be able to ask them questions about your career your life and your business you're also going to get access to exclusive master classes I've been filming with the most successful business owners in the entire world you do not want to miss out on any of this so click the link down in the description of this video to join the school of mentors today we'll see you on the inside but with that being

said let's go get this next interview excuse me sir question for you is this your G wagon yes it is and what do you do for living out here in Houston Texas to be able to afford a G wagon I I'm a doctor how long have you been a doctor for 30 years what type of medicine do you practice in I'm a lung specialist and ICU specialist do you own your own practice or yes I do over these 30 years you know especially as a business owner what's been the most amount of money that you've

ever made in a single year well the business is different than the medicine so medicine is probably 6 700,000 how about for the business the business is a big business so that's $6 million a year $6 million was it all worth it going through all that school absolutely worth it I'll steal my kids if I go back I wouldn't change a thing what did you have to sacrifice on the way though time and time with my wife so and the kids but it's it's worth it the kids are good how old are you today I'm

54 years of age for people that are pursuing medicine what's the most common mistake that you see new doctors I think the doctor's biggest mistake they don't learn the business of medicine I don't mean it as a money but meaning when you are taking care of patients you want to do it the most efficient way and if you're in private practice you want to do it so you could stay afloat because if you don't do the right job money is not important to doctors but money is what syncs a lot of practices so you're going

to have to balance that out you're not you're never after the money but you also if you have a practice Private Practice you need to be in and you need to have that Niche and and to stay afloat because unfortunately you guys don't know this as a Young Generation medicine pays less and less for doctors which we accommodate that but then you have to stay afloat I have like 300 employees that I I have to pay him payroll at the end of every month so yes doctors think I could be employed and that's the end

of it but if you go into private practice you really have to work harder and and have that business mind so my one advice is learn business early on not because you after money or you want more money or how to squeeze the system no to the contrary how to give good service to your patients but stay afloat and not worry about that CU why doctors in general get paid higher than average is because you don't want your doctor to be worried about money you want to worry about you and how to get you better

so there's a balance right there you don't want to make so much money and people think they're they're doing something not right or or too little money that they worry about making money to live survive thank you sir I appreciate you that's a wrap on today's video you guys Houston Texas just went crazy but I want you to like like And subscribe for amazing content we've got coming very soon at the School of Hard Knocks and as I mentioned earlier we just launched our official entrepreneur Community to connect you guys directly with the Millionaires and

the billionaires that we interview every single week so that way you guys can also learn directly from these people and start growing in your career and your businesses so to join this community click the link down in the description below and join the school of mentors today you do not want to miss out on any of this so we can't wait to see you on the inside and with that being said we'll see you guys in the next video