Watch these 55 minutes if you want to be a millionaire in 2022..

warren buffett once told the story of his closest friend from columbia business school he said the guy was incredibly smart incredibly hard working really strong ethics great character and they kind of were in a similar spot as they graduated but the outcome of their lives was dramatically different based on a single decision the friend of his went to the steel business and he said worked you know very hard and earned a modestly you know modestly good living um while warren went and started his first private partnership and then what would eventually become berkshire hathaway and

he said this final quote which has always struck me or struck me then and stuck with me since which is what i learned was it's not as important how hard you row but what boat you are in and so in the video that i'm about to show you this was a presentation that i was given for a keynote and they asked me to talk about what they called level seven entrepreneurship so once you kind of they have like levels one through six that they were talking about level seven is kind of rising above the businesses

and using your businesses as or seeing your businesses almost as products that increase your you know personal net worth etc i took that to mean how do we assess and appraise opportunity itself this is one of my one of my favorite presentations i've ever given um and i hope that you get value from it mosey nation for those guys who don't know me by the way my name is oxford mosey i own acquisition.com it's a portfolio of companies that does about 85 million a year make these videos just because i think a lot of people

are broke and i know it should be one of them and hopefully some of the lessons that i've learned along the way uh can help you so uh buckle up and enjoy how's everybody going awesome sweet so i am a level seven entrepreneur category five hurricane level ten fire breather top secret security clearance holder uh it was kind of weird to hear the context for the talk today because i don't really feel like a level seven entrepreneur um just feel like somebody's taking a couple steps forward and one toe after the other so let's rock

and roll everybody good with that sweet it's acquisition.com that's our fancy logo awesome you guys want to hear something totally insane uh oh i can see it here much better i was able to take home more in a year than the ceo of mcdonald's ikea ford motorola and yahoo combined as a kid in his 20s which has equated to over 1.2 million per month in dividends for nearly half a decade and i haven't talked about it publicly that much mostly because didn't really care too we're at an interesting point and ryan asked me to to

bring this up where we've exited two companies this year sold our house sold our car and i'm kind of in a season right now of consolidation and kind of distilling down what i like to call artifacts so just frameworks that crystallize the learnings so that i can set forth for my next chapter with kind of a backpack full of lessons and so i have way more frameworks than i will be able to share with you today that book is the first of 10 books that i'm writing on it that is really just expounding on one

framework but i'm going to share with you four today that hopefully you get some good stuff out of all right and no one was more surprised than me uh to hear those numbers so what's interesting is that me expressing that fact creates envy in some people anger and others skepticism in most and confusion in old people and hopefully inspires a select few because you guys are who i'm making this for so these are just a few level seven observations i added in quickly this morning because ryan asked me to talk about a couple of these

some things that i've learned one everyone wants you to do well just not better than them except that no one actually wants you to be rich except for you i really mean that because if you're not fighting for you no one else says money only solves money problems and then you are left with problems that money can't solve you don't arrive you just enter a new club as the smallest member the guy who literally lives in the unit directly above me in my building took home 1 billion this year in income not an exit income

he owns outright 100 owner 3.8 billion a year in sales 26 net margins and last year took home 920 million year before that he took him 850 million cool guy so i'm just poor and one of the last observations i'll say is that this last year i'd say we fully exited the the org chart and we're making pretty much the same money that i just showed you and uh it was wildly uh boring and like almost depressing and so i i kind of have this thing that like let's make active income cool again because i

think passive income is slightly overrated because we all have this desire we seek freedom but what i really think we want is options um and we want engaging activities because we like imagine because all of us buy back all of our time and imagine you buy all of it back and you're making all the money and you do nothing it's terrible um and so i'm just sharing this with you because that was my goal for such a long time that when i kind of got there it's it's not it's not fun like all i want

to do now is start something else because i've got a lot of summers left right so might as well do something cool all right so who wants to hear about stuff that can shortcut your path to material success so you can ponder the purpose of achieving it to begin with and so i think that there's something to be said for intention behind how you create your business and people can feel why you're doing things total tangent i was talking to a buddy of mine who just sold his company for 200 million and he said you

know what's interesting is that when you talk to most people he said 99 people are plugged into the matrix and what he meant by that is that they're operating from a place of lack and a place of desire to get other people to give them money right that's kind of where they operate from he said when you exit the matrix it's very rare but you'll see that when you make things just for the sake of making them like art then they have they take on a whole different form and this book was kind of the

first of the many things that i hope to create from that same space and so anyways i hope you enjoy it if you do pick it up and hopefully i'll prove to you some enough enough value for 99 cents so how i turned 1036 dollars into 85 million a year in portfolio revenue in five years using four frameworks and that is december 20th 2016. so your life can change pretty quickly all right so that was me when i started i didn't have enough money for rent so i slept there scaled those locations from it always

still hits me mostly because i'm just grateful you know for where we're at now anyways um i'm sorry scaled these locations from zero to six um and three years off cash flow which was pretty cool um then i did 18 months of doing gym turn around so it's kind of like gym rescue or like bar rescue but gyms but no gym owners want to get rescued so i called it jim launch brilliant marketing right there uh and uh this is actually the first ad i ever ran which is actually me just doing a walkthrough of

this this gym in the hood hood um and i did 191 signups in 19 days just me selling one-on-one at 500 bucks each um i would show you but i don't think we have enough time um but that ad if you ever want to check it out it's on my youtube channel it's got like 400 000 views um it's 90 seconds so anyways from there we packaged the ip for a better gym model because i had six gyms and then i did all these turnarounds um we skilled that to 2.4 million a month which is

a b2b business then we started a supplement company scaled that to 1.7 million a month that's b to b to c and b to c uh for those who don't know that means business to business and business consumer sorry and business to business to consumer uh and then after that we founded a software company which killed a 1.6 million a month which was b to b to c uh which we actually just sold two months ago and uh yeah that was cool and then we co-founded a national photography chain which now 14 months later is

doing 1.1 million a month so and now we have acquisition.com so we take interest in seven eight and multi uh e-learning and local chains and we grow them to exit so that's what we do which is cool for me but what's in it for you all right so here's my goal for the presentation to help you get you from where you are using some of the lessons that i learned the hard way and a few stories to make them stick uh to a level seven zillion entrepreneur cool which is an entrepreneur who contemplates the meaning

of life because they have no need for money great so if you have achieved if someone has achieved success and i'm going to use quotes here faster again quotes here than you then they simply have been better allocators of a single resource and it's probably not the resource you think all right so i want to base my presentation today on a single premise which is time allocation is the only thing that matters if you master time you will master material success i'm not saying you'll master happiness i'm just saying you'll master material success all right

and so don't worry this is not a time management presentation this is a presentation on how to drag your time horizon by the balls into the present all right way faster than everyone you desperately want to beat i mean that right like you can drag your time horizon to the present if you learn how to think differently all right so from the outside what appears to be speed is not lots of activity that is a fallacy that most entrepreneurs believe all right it is making the right strategic decisions and making fewer mistakes so if you

see where it says micro fast macro slow for the most part when i look at entrepreneurs and i see what they're doing that's what their life looks like they go really fast and then they change directions they go really fast and they change directions but i can tell you my neighbor who's right above me has been doing the same thing for 40 years and it's micro slow macro fast and the speed comes from not having to take detours if you consistently move forward over a long enough period of time you go really far and so

here's a level 7 observation for you 90 of success can be boiled down to consistently doing the obvious thing for an uncommonly long period of time without convincing yourself you're smarter than you are so i like this quote from naval ravicon it's loose i just remember from a book or something um i only believe that one percent of decisions matter the rest of them are irrelevant the difficulty is understanding which of the one percent of the 99 of the ones that matter and so what i want to give you some of the frameworks that shape

my one percent decision so you can use them too all right so first off this is the premise money is the denomination of time every transaction we make is for some percentage of our lives our wealth is a measure of how little of our lives we must trade for the things that we desire money is an iou from society for future goods and services which is translated as other people's time for value that we provide and so to somebody who has lots of money they need to trade very little time by percentage of their life

to get the lamborghini for somebody who has no money they have to trade a very large amount of time to get the same lamborghini it's a it's just a store of time and so the key multiplier on time is leverage and the size of the opportunities that we pursue aka the strategic decisions are directly proportional the amount of leverage that we can employ rich dads and i think this is the biggest difference in economic equality tell their kids to pursue high leverage opportunities real estate funds acquisition business ownership that's what they encourage their kids to

do because they've already jumped through the levels and they know what is there most people don't succeed because of ignorance not because of lack of desire poor dads tell their kids to pursue low leverage opportunities forcing those kids to have to learn the hard way like many of us did what leverage actually is many times never discovering what it is until it's too late example get a good job build a small business and i'll clarify what that means in a second etc and so this is a a good book you can probably get most of

the takings um just total side note i think one of the most valuable things you can do is just read billionaire autobiographies because you get to see how they think so he said uh and this this this this hit me like a ton of bricks he said it's harder to build a small business than a big business because level 10 talent is only attracted to big opportunities it's harder because you got to do it on your own you got to do everything if you chase the big things it also makes it worth it because small

goals and big goals are equally difficult you have to spend time to achieve either of them so you might as well make them big like really like that like does that make sense it's like that hits you because it hits me so with that being established these are the four frameworks that i use to apply leverage and have given me the quote faster than normal quote material success that many claim to desire number one and i apply these frameworks when we're looking at investing in portfolio companies when we look at ourselves and our own companies

what we're going to do to scale them and so these are the four things i look at number one scale the entrepreneur number two scale the market number three skill the deliverable number four scale the business now from a equation standpoint because this is how all these things work together a level 10 entrepreneur on a level one opportunity will still do pretty well but not that great opportunity is a function of two of these things the market times the scalability of the deliverable if you've got a num nuts on a level 10 opportunity they'll still

make money some of you guys know them some of you guys are them and then finally the business acumen is to understand how the actual enterprise itself has to scale all right so let's start with the first one you are not making as much as you want because you are not as good as you think you are fact if someone in your marketplace dare i say competitor is making more than you it is because they are better than you at the game do not throw stones at them throw stones at your ego instead admit deficiencies

and learn their strengths it will be the only way to beat them if we can admit the deficiency then at least we can create space to learn so how do we get better looking the entrepreneur is the first and most important thing that we do when we're looking at trying to get into a business and so every business is bottlenecked by the entrepreneur in one of three ways and so if you're the entrepreneur this is you number one you'll either lack a skill number two you will lack a character trait number three you will lack

a belief so imagine a ladder and you can think of this as you've got traits you've got beliefs and you've got skills if any side of that ladder is missing no matter how develop the other components you will be limited to the lowest rung it's just like this is this is the theory of constraints right just visualized so fun activity i will tell you the problem and you tell me whether it was a skill deficiency a trait deficiency or a belief deficiency a long time ago in a galaxy far away i had 10 businesses i

also had no money i had six gyms i had a turn around business four gyms i had a chiropractor agency i had a dental agency yeah i think that's it it's a six plus yeah right nine or ten a lot plenty my lovely wife laila who is not my wife at the time said uh you need to pick something uh or you're gonna you know or i'm leaving and i was like oh man that is a high stake i should pick something and so uh i ended up picking something what do you think the issue

was what was my deficiency as an entrepreneur was it a skill gonna get hands for skill hands for trait hands for belief interesting okay well this is my opinion the lesson is niche slapping fallacy which is the fallacy that if i pursue all of them one of them will work out which is a fallacy it is false when in reality all of them could have worked out but none of them will work out if you pursue them all and so many of you probably have your hand in two things you're like i'm not really sure

which one it is [ __ ] pick pick because the people you're competing against who are beating you just have one thing and imagine right now for a moment that one of those businesses disappeared everything that you have on that business just vanishes how easy would it be to make the other one win so just do that so the lesson was the niche lapping fallacy what i lacked was focus and for me i think focus is a character trait so that was a trait deficiency but i wasn't done yet i still had more things that

i was not successful because of so this is me talking about my grand plans too this is at my first location by the way this is how i was showing how i wanted to build america's next gym and so sorry it's really cute um and so anyways i went to this mastermind uh it was russell brunson's inner circle this is five or six years ago and i said here are my grand plans i've got six locations i've got my next four picked out and i told him about how our model worked and everything and he

said i think it's a terrible idea and like my heart sank because i was like i looked up to this guy so much because i was like god i mean if i can just get one thing from this guy and he said alex you have a level 10 skill set in a level two opportunity you shouldn't be running gyms you should be teaching gyms what you do and that's where it's like the big frameworks that change your life and that's what i'm trying to do with this presentation for somebody in the room is that it's

the big strategic decisions that make the big impacts in our lives it's not the incremental gains it's the rich dad who says why are you even bothering with this this is not big enough you're never going to achieve scale running a liquor store it's just not going to happen right but you need someone like that from the outside to get that perspective and so this was what i got from russell years ago and so can anyone identify the deficit that i was suffering at this point in my career was it a skill or a belief

belief and so this was actually my trajectory of me as a multi-gym owner i had lots of skills i had decent character traits i think but i didn't know that it was possible i didn't know that that was something that you could do and so i switched from being a multi-gym owner to a licensor and so finally this is what a skill deficiency looks like and i'll give you one that i hear all the time in internet marketing i'm sure ryan has heard this as well no good sales people exist no one can sell like

i can sell my sales team is so inconsistent some months they close a lot sometimes they close a little i want to kill them and sometimes i don't want to kill them sound familiar anyone this isn't a problem it is a skilled efficiency you lack the skill of recruiting higher interviewing training and managing a high performance sales team that's all it is and so it's not that this does not exist it's that i do not have the skills to conquer this problem and so here's a pro tip or a thought is binaries versus continuums so

if you might check the box and say well i know how to manage a sales team the question is not whether or not you know how to manage the sales team but how well you can manage a sales team it's not a binary it is a continuum and as a fun thought all of these things exist on a continuum your skills exist on a continuum your traits exist on continuum it's not whether you're honest or not it's how honest are you so the best way to learn is to phrase your bottleneck or complaint into a

solvable question my sales team is inconsistent how do i learn to create consistency in sales simple right and skill i'm not going to get into how to learn skills but this is the the quick quick bit comes from repetition and feedback aka volume the volume of work that you do which is why i think we need to make active income cool again all right so i uh just looked at my crm this is years ago and i was able to pull the stats from my personal closing because you have to say who closed something in

a crm for gyms and over a three and a half year period i had closed 4 000 sales in the crm these are one-on-one sales and so i often get the question alex you seem so certain or you're so good at these things how do i shortcut that and the reality is that most people don't have that rocky cut scene of eating [ __ ] and they're not willing to go through it and maybe you are going through it right now and so my promise to you is that your work works on you more than

you work on it you build your character through the work that we do we increase our capacity to do work itself and so if you can think about the work that you're doing is increasing that trait rather than the output of the work then i think it will help a lot of people get through some of the harder times it did for me and so some of the things some of the sayings that i have in my community are do the boring work and outwork yourself doubt because conviction doesn't come from positive affirmations in the

mirror it comes from having done something so many [ __ ] times that you're bored of it because it's like well obviously this is how you sell obviously this is how you scale a sales team because you've done it so many times and i was on a podcast not that long ago for young male entrepreneurs and the the guy was like hey you know i really hear what you're coming from you know i know you did your all those years of eating [ __ ] that no one talked about um and so for all the

audience that just wants to like shortcut all that what's your advice and i was like you'll never beat me because you're not willing to do it and so i think that the biggest deficiency that people have is their expectations and so because we have these very lofty expectations everyone's trying to become a millionaire in 90 days when if i were to get you to sign a contract this is i promise you'll be a millionaire in five years but you won't earn anything for five years until you become a millionaire would you be willing to sign

it most people say they would but they don't live like they would and i promise you that if you live like you would you'll hit it but everyone just starts over every 90 days thinking that this is going to be the thing when you could have just had that slow gradient that will get you there eventually so i'd rather get rich for sure than get rich quick and so the best part about all this stuff is that skills traits and beliefs all compound and that is what yields crazy outside returns seemingly overnight and so this

is actually one of my favorite parts of the presentation just side out um so let me give you an example of someone who's good at math let's say you're anybody here good at math born good at math cool so i wanted to make this into into individual slides so pretend each of these lines are not shown until i say them cool great all right so let's say you're good at math all right cool not very monetizable all right moving along let's say you're like you know what i'm going to start bookkeeping i want to learn

how to you know keep books like okay cool now you have something you can at least monetize and then you say no i'm going to get an accounting degree i'm learning how to do accounting okay now this is something that's really becoming a career you can feed your family etc and then you say you know what i'm starting to get in a tax strategy then all of a sudden you learn how you can you can help businesses avoid tax drag as my lawyer says um and then you learn into you you learn about insurance because

you're like oh this is cool too and it has really cool ramifications also for tax but also for some some investment stuff okay that's cool and then you learn how to negotiate deal structure ah now we're can you start seeing how the person changes as we're talking about adding these skills to the repertoire first you're talking about a bookkeeper then an accountant then maybe a controller now we're talking to cfo and then you have an amazing mastery of capital markets now you're a rainmaker and so the thing is is that for this little example it's

one plus one plus one plus one plus one sub one uh equals a zillion right the point is that these skills stack on top of each other and create asymmetrical returns to all of these skills that came before it and as a fun example this was my actual skill stack so first i learned how to get in shape and work out then i learned about nutrition which was a whole nother thing then i learned how to sell so i started making a little bit of money then i learned how to oops market locally so i

started getting leads and i already knew how to sell so then it was like boom it was like a huge magnifier on the other three skills i had before that then i learned how to operate so then i scaled to six locations and then i learned how to scale sales teams so i had six people selling at all those locations and then i learned how to market b2b nationally and because i already knew how to scale sales teams i'd been doing it for years i knew how to do high volume transactions i knew how to

operate a big business because i had 40 employees when i was 25. so i had all these other things but as soon as i had that belief that i had a different vehicle that i could pursue it in we went from zero to 28 million a year in 20 months pretty cool and so as a different example here's jay-z's little skill stack he learned how to uh man see if i if i could have like revealed it later it would have been funnier but it's okay so he had rhythm right he had a natural skill

or procrivility proclivity towards rhythm all right then he learned how to write lyrics and rhymes right then he learned how to sell got people his cds and get on stage right then he learned how to promote himself then he learned how to create a label and then he learned how to recruit other talent and then he got beyonce right and so the thing is is this making sense and so what might be valuable for you because i think i've just been through an introspective period is to think what is my skill stack and what are

my deficiencies and which of these deficiencies are keeping me from what i want and why am i not working on them cool so does every human here see how you can become an entrepreneur through higher leverage through auditing and improving your skills traits and beliefs yes all right awesome check the box so framework number two scale the market so uh i went to this mastermind all the people in this little picture actually do 600 million dollars a year in revenue which is pretty cool and i had this really interesting experience because i was one of

the smaller guys in the room in terms of revenue uh at the time i think we were doing 35 or 40 million somewhere in there um and i was like why are these guys making more money than me because i was like i was like i don't think these guys are smarter than me i was like why why are they making more than me and so i was left with one thing right and the answer was they picked better markets so when i looked at what all of these guys were doing almost all of them

were mass market they were selling something that was expensive and they could target the world and i was like huh they have better markets than me and i was running up into this this cap of my market right around 30 or 40 million and so here's a quick little framework for you guys in terms of how to pick your market because many times i said that the equation here right entrepreneur level 10 times market level 10 times delivery vehicle which i'll get to in a second level 10 times business acumen is what makes builds fortunes

all right so the quick answer was you have to select the avatar that you can provide the most value to the number one question i get which which avatar should i pursue the one you can help the most simple the medium answer is pick an avatar so that you can productize your service and provide that value with low operational drag and that's why you pick one so you can do the same thing over and over again and get better and better and better at it so you don't have to spend as much resources to do

the same level of value which is create margins which is what you can take home and spend on lamborghinis cool so this is my live speech answer if you had one thing to get with your hot dog stand so i give everybody here a hot dog stand and you have one competitive advantage what would you want would you want the best location would you want the best ingredients would you want the best tasting hot dogs best marketing what would you want ah someone's read the book uh and uh this is actually a story of a

marketing professor who says this at the beginning of every marketing thing uh of course they said what you want is a starving crowd because no matter how shitty your location is if when the football game lets out and everyone's drunk at two o'clock in the afternoon and you're the only hot dog stand there and you've got a starving crowd coming to you you're gonna sell out your hot dogs they could be dog [ __ ] you're gonna sell them right they probably won't even care right and so these are the four attributes that i look

for in a market that i want to pursue one is pain right they must not want but desperately need what i have to sell them number two they must be able to afford what i want to sell them a friend of mine uh had a business where he could help people improve resumes to get more jobs problem they didn't got no money right can couldn't afford his services the third is tactical is you want him to be easy to target right it's amazing if you want to find you know vegan grandmas or whatever but if

you can't tactically target them it's one of those things that i would just cross out and be like sounds hard there's going to be other hard things i'd rather not add one to my list and then finally growing a good friend of mine had a had an ad platform that he sold to newspapers and tries he might it was growing and then his growth slowed and then it started to shrink and he could not figure out what it was he was like i need new hooks and he knew offers and he couldn't figure out he's

a smart dude and i was like hey lloyd i was like you think it might be because you're selling the newspapers shrinking 25 per year compounding right it's just the big obvious thing so if you're going to go into business you might as well do something with the tailwind if you got the choice might as well pick something that's growing right i know this stuff sounds simple but some of you guys are in shrinking markets so i'm like why rich dad poor dad right just make the smarter decision so i'm going to skip through this

stuff i hit it most of it um and i'll just i'll say this one little story that i like a lot um warren buffett talked about one of his the smartest classmate and his closest friend from columbia and he said this guy was brilliant he was hardworking really high character dude he's like and i went to go build my partnership the berkshire hathaway well eventually would become um and he went into the steel business he said we did dramatically different even though we both had the same skills and level of skill and he said and

that's what taught me that it was far more important what boot you are in rather than how hard you row and i think a lot of you guys are in row boats and you need a bigger opportunity vehicle and so the old vc saying is great entrepreneur poor market market wins poor entrepreneur great market market wins that's why when people are looking at investing they're like what markets do i want exposure to why don't i just ride the tailwind so now once you've selected a better market you're going to want to scale right right so

um i'll skip the story but sure [ __ ] it short story uh i had an agency owner came up to me he's like alex i've scaled my agency everything's saturated i can't get any more clients should i enter another market guys doing 2 million bucks a year spending 50 000 a month on ads and i was like you're right chiropractors are completely tapped out the 10 billion a year that goes to chiropractors and total revenue your rinkading two million dollar marketing agency has completely saturated whatever shall i do great question friend these are the

five ways you can scale your market so let's just use salon owners as an example let's say that's your your avatar of who you're going after whatever so there's your ideal market way number one you can go up market all right so that would be going to multi location owners chains franchises etc number two you go down market go to hair stylist people who will eventually become your avatar in time number three you can go to an adjacent market so something that's very similar in terms of the core desires of the customers that you're serving

right so it might be lashes and nails you can go broader which just means going even wider right lashes nails skid cribs med spas you know salons massage etc right or you can go deeper in your existing market which if i did tell you that is usually my favorite which is buy competitors and go figure out new platforms add outbound to your system increase your ad budget it's just doing more of the thing that you're already doing which if you ever get anything common themes for me is do the boring work if something's working do

more of it usually works better great so does everyone see how you can enter a better market and then scale it framework number two boom check it all right number three this framework that i'm about to share with you is the opportunity lens through which i look at all opportunities that i want to pursue all right it perfectly tracks my progression this is actually pretty cool so i got this i borrowed part of this from naval ravicon um who's really brilliant you can follow him on twitter um but there's four four c's to leverage all

right i said the whole premise of this presentation is leverage so entrepreneur check that box mark it check that box now scaling the deliverable so i'm looking at a company i want to make the deliverable more scalable increase the profit margin here's how you think about it so the first level of leverage is labor so back in the day this is the only kind of leverage that's how the pyramids were built that's how ancient royalty had they just had bodies right the problem with bodies nowadays is that you need permission to do things right and

so you have to ask people to do things or pay them to do things otherwise they won't do them it's such a bummer right we'd make so much more money if we didn't have to do that second our second level of leverage and this is a higher level of leverage is capital this is what the next generation of billionaires and fortunes were built off of buffett monger etc once again they used other people's money so permission is required unfortunately can't just take the money um but you can still make a lot of money just leveraging

capital right and at this point in time it was leveraging capital times labor the third of this is code the difference here is that this is permissionless if you write software you don't need to ask permission to duplicate it it just will continue to deplete over and over again right at no cost so if you look at the mailchimp founders it was code that is what created their billions and then finally you've got content or media right that's how joe rogan can sell his podcast for 100 million dollars what's his product media it costs zero

cost of replication all right i'm gonna i'm gonna bring this home in a second i promise you'll like where we're going all right and then you'll notice that above the top line zero permission is required for either of those things and that is where the new fortunes are being built and right now if you look at that pyramid and you're like i'm not on that pyramid you should get on that pyramid because that's where all the fortunes are and if you look at the very top here these are guys that use all four bezos zac

dorsey they've got labor working for them they've got capital working for them they've got code working for them and they have content and media working for them all of them with permissionless leverage interesting cool we call that a leveraged four banker it was funnier on the plane when i added that slide so i was only able to see this trend after i had made these jumps so my goal is by showing you this trajectory you can do it proactively alright so each opportunity jump that i'm about to show you 10x to my income so at

first i was an employee i was a management consultant i was someone else's labor i was making four figures a month then i became a trainer i was my own labor i'm my own master right so i became self-employed i jumped to five figures a month then i became a gym owner and then i got to finally use labor as leverage i got to use other people's time right and then i went to six figures a month then and this is a big pivot i went from leveraging labor to leveraging labor and media which is

i started licensing right i started licensing something that has no cost to replicate all right and that's when we started making a million dollars a month i'm talking income not revenue here by the way next level is eight figures a month and this is where i think we're headed we'll do about 85-ish million this year we'll see how the quarter ends um and this is because now i added capital to this mix now i can buy things right so that gives me more leverage to expand what i'm already doing and so this is what i

think will get me to eight figures a month i'll let you know when i get there um and then finally nine figures a month is doing the whole stack right do i know what i'm gonna do there not yet but i got summers okay so mind you this is a framework it's a tool all models have limits but it has served me well and thinking how to expand is this helping you sweet so you guys want a really cool bonus framework that i've been thinking about for a long time i have six minutes left so

you won't get it okay pretend you never uh that all right okay so um cool you said yes to this fantastic okay so this is low leverage this actually took me like you know these little things take like five minutes each to the little lines and [ __ ] anyways uh so here's framework number three skilling and deliverable so this is the delivery cube so when i look at a business that i'm looking to buy into or improve etc these are six different types of questions that i ask which is number one can i do

this thing in a one-on-one setting a small group setting or a one-to-many setting and can i change the price accordingly number two is this a do it yourself a done with you or a done-for-you solution can i move along that spectrum in either direction in a way that might optimize my outcome for better profits number three what level of support do i want to offer this is a little bit more service space but hopefully it'll help some of you do i want to do tech support do i want to do chat support do i want

to do email support do i do phone support do you want to do zoom call support what type of support do i want to provide do i want to probably different levels at different income levels or different payment levels something to consider consumption for if i'm licensing material do i want it to be written do i want it to be live like this do i want it to be audio only do i want it to be video how am i going to package the information number five speed and convenience if someone has help from me

is it 24 7 is it nine to five do they have a response time of under a minute do they have a response time of two days right these are all variables that you can use to increase or decrease the value or margin that you are using to deliver and then finally this is probably my favorite of the six boxes if you can have a favorite on a framework about delivery one is i want you to imagine the value that you provide right now and the price you charge for it okay now i want you

to 10x that price now i want you to think about what you would deliver if that were actually your price how much more would you do interesting thought process blue sky do it on your own time but it's a good thought experiment you should do with your team number two think again about your your your current product if you had to deliver more value than you currently are but for one-tenth the price what else would you need to build that would cost nothing to replicate to provide the value and number three if i if i

could have a favorite question of my last framework of number box six this would be it if right now the gods of marketing ryan dice gives the god voice and says you can no longer get new customers from marketing and the only thing you have are your existing customers and the only way to get a new customer is for those customers to bring them to you how different would your client experience look food to think on the thing is that people think that word of mouth is dead that book right now if you just do

the math is selling like 250 000 a month of books off of word of mouth and no funnels people can spread stuff faster than ever before we're just not taking advantage of it because we're too greedy and too short-term thinking like if people aren't referring your stuff fix the stuff why bother promoting it people don't want to talk about it i don't know time check for myself apparently i'm on time um everything is for sale and this is a this is another quick framework i'll give you for scaling delivery i have a ton of these

these are just two that i wanted to bring up so these are the only things you can ever sell because i've been trying to think through what are the base chunks based units of [ __ ] you sell all right you got products you got services you got access you have media you have risk and you have money only things you can sell and i challenge you to think about something else and if you do figure one out that doesn't include these as base chunks i'll add it all right because i've been thinking a lot

about this and what's even cooler about this is that each of these components have physical and digital pieces so a physical product would be a bag of you know dog bones right a digital product is what a lot of you guys sell like a course right a physical service would be like a massage a digital service might be marketing physical access would be access to this event or to a real estate building that you rent every day so that you can have shelter uh digital access might be if there was a virtual recording of this

live digital access you have physical media like a billboard digital media you guys should hopefully know what that is you're here you've got physical risk like your building is being insured and you've got digital risk like a cyber attack and then you've got physical money and everybody knows about cryptocurrency this is kind of cool the different things you can sell so here's the challenge is can you think through how you can add one of these other components to your existing offer stack without providing a lot of operational drag but while also providing value all right

and so i got a couple i presented this to a couple a smaller group and they were like what about experiences it was like experiences are products plus service plus access a business is all of those things chunked together titles like if i wanted to make you a knight right what do you get you get access if i wanted to give you ip that is access to products so when you're thinking through this like those are the base chunks that build everything and so i think sometimes when we can just boil it down to one

of the base units it can be useful in thinking what else can i sell or what can i transform my existing things into that are more valuable and so here's an easy thought this is one of the more genius things that we did is that if you're an anybody here an ad agency couple people well i'll tell you what we did is that we uh we had the agency side and they were like huh what if we just find the winners and then license the winners every single month to everybody else who wants to run

their own ads all margin great idea made us an extra million a month in profit just try it good recommend [Music] number two add an experience to continuity right or add physical products to digital experiences right these are all different ways you can mix and match these things time check return fantastic does everyone see i can add leverage to your deliverable from those two frameworks i shared yes say yes awesome all right check the box number four scale the business so we covered a lot today and we feel like this a little bit all right

fantastic so i'll wrap this up by showing you what we can focus on at each revenue level in that we what we focus on at each revenue level for our portfolio businesses when we come in to scale them all right so these are my last five years of revenue um from 2017 until now all right if you notice that's what being stuck looks like i didn't know what to do and so um anybody want to know what happened there yes cool i read this book which i recommend it's a good book but there was one

chapter in it that completely uh made everything click for me and so i applied that book um because up at that point i intimately understood what it took to get to you know 35 40-ish million but i didn't know how to get past it now i do and that's what i'm gonna share with you all right so who here is zero to a million can we leave egos at the door okay cool one product one avatar one channel if you have multiple businesses and you're under seven figures a year stop more businesses clearly aren't making

more money one product one avatar one channel but i thought i should have multiple acquisition channels you don't even [ __ ] make money yet so no one product one avatar one channel the problem that you're trying to solve here is that you have no [ __ ] clue what you're doing all right the objective is consistently sell something to people actually want that's the objective that is why we talked about picking the right market first 1 to 10 million the objective is to increase the lifetime gross profit per customer i don't like saying lifetime

value because no one knows what it means and it's uh revenue for the most part i like to think about what is my gross margin on the things that i am selling right the problem is that most times when you're at that million-ish you're not making enough money take home and so the problem is that you're not making enough profit per customer to scale which is what is required to go from one to 1 million to 10 million and so the objective is to add higher leverage deliverables so that you can make more money hence

why we went over the deliverables make sense awesome 10 to 50 million what happens here is that your consistency of delivery starts to drop and so what you need to do is you actually have to start professionalizing the business this is where you actually pay taxes and you know don't go to jail and pay payroll and all that kind of stuff right and the problem is that you've inconsistent delivery you have poor tracking your crm issues are [ __ ] and your finances are a mess all right the solution is you have to hire a

high level experience you've already done this before all right so that is where framework number four is this is scaling the business this is actual business acumen all right and then finally framework x uh and framework one is alive this entire time because you have to become the entrepreneur that is required at each level sometimes your best is not good enough because what is required is more than your current best and so i think rather than thinking like i'm trying my best it's like well it's clearly not working so why don't we just try fixing

the problem and ignoring your feelings so framework x attract talent all right and this was the piece that i was missing is that what happens is you have to grow revenue streams innovation dies at this level of business because one entrepreneur can only do so much right and so you need other stallions to come in who can drive revenue all right and so at this point the business actually becomes a conglomeration of many businesses so think about it having 10 ceos that all run their own p ls that are actually growing their own mini businesses

within the larger context of yours if you think about amazon amazon isn't one business it's a zillion businesses globe together so as you scale it becomes more globbing things together becomes more acquisition etc as a result of this all right so here's the solution is you have to get new talent incentivized to drive growth so i'm going to skip this story you guys want to hear a cool mental model alex sharpens right here so there's six external this is the function is how i define them let me a five and just yeah so one is

lead gen two lead nurture three sales four customer success five ascension six resell all right these are the things that all of you probably know how to do hopefully right this is how you scale these are the six internal business functions that mirror the external everybody knows their cpcs their cpms what percentage click-through rate their speed to response hopefully what percentage close rate you guys have but i'll bet you if i ask you how many applications do you get a month what percentage of those applications do you get to book a call what percentage of

interviews are you are you transitioning into a full-time role what does your onboarding look like for a new employee what does that training look like how do we ascend those people what is their career path is it clearly defined for them with role a title and pay and then finally what's our retention on this and i'll tell you the quick story for why this is important so i had a team of right now we have a big cold call team we have about 26 guys and the lowest wrong on that is cold calling so they

call people who don't know and so for those who are like our sales team sucks like try calling people who don't even know who you are and then get them to buy a 40 000 thing so our sales team is pretty good so we had this goal for two quarters my sales director said we're gonna we're gonna add another 10 bdrs and i said great goal two quarters later we haven't added 10 bdrs so third quarter in a row i was like what's your goal he's like i'm going to add 10 bdrs and i was

like i feel like we've done this before so why haven't you added the 10 bdrs and uh because this is where we're like okay this many calls equals this much sales blah blah blah blah right everyone's done this what do you think the bottleneck was and i was like wait a second how many people are you interviewing a week five from hr and i was like well five's not going to get us there because that was just replacing the churn of the front line position and just like you have churning customers you have turned in

employees especially at the front line and so when we discovered that the actual limiting factor was hr not running enough ads to get enough interviews and changing the actual process we had 10 hired in two weeks and it took us three quarters to get there and so two weeks later now we have double the applications that are coming in for our business and i'll bet you that all of you have one of these things you're one amazing hire away from all the growth you ever wanted you just got to identify that that's actually probably most

of your bottleneck especially as you scale cool so does everyone have a clear idea what they need to focus on to scale their business at their current level yes check box number four awesome so did everyone get something they can take away hopefully and drag their future by the balls towards the present if you enjoyed this stuff you can get more frameworks like this for free at acquisition.com that's a course there's no opt-in you can just watch it it has downloads and all that kind of stuff it's free there you go and if you like

this my book's 99 cents i have a youtube thing that's free i have a gram thing that's free obviously and if you're a company that's e-learning or brick-and-mortar chain looking to scale we help companies that go from here to here and beyond and at acquisition.com we believe you should only have to get rich once thank you [Applause]