Young and Profiting with Hala Taha - Patrick Bet-David: Money Moves | E176

Episode Date: June 27, 2022

What do chess players and entrepreneurs have in common? The best ones are always anticipating their next five moves. Patrick Bet-David, CEO and founder of PHP agency and the creator behind the widely popular YouTube channel Valuetainment, shares the secret of strategizing your next moves. In this episode, Hala and Patrick talk about Patrick’s latest book, Your Next Five Moves. They dive deep into the lessons Patrick learned from his unique upbringing, talk about the Law of Attraction and Patrick’s keys to success, and discuss how the vision and mindset of a chess grandmaster apply to business. Topics Include: - Patrick’s background growing up in Iran - How adversity impacts success  - Why he struggled in high school   - Experience in the military and how he applied what he learned to entrepreneurship  - The value of connection and comradery  - The joke on his cover letter that got him job interviews - Intreprenuer vs entrepreneur - Why he decided to start PHP Agency - How does he attract a diverse workforce?    - How reading changed his life  - The Law of Attraction and Patrick’s keys to success - The vision and mindset of a chess master and how it’s related to business  - How do you decide what the right sequence is? - The five moves to achieving your goals  - Patrick’s actionable advice  - Patrick’s secret to profiting - And other topics… Patrick Bet-David is a content creator, producer, author, and CEO of both PHP Agency, Inc., an insurance sales, marketing, and distribution company, and Valuetainment Media, a media brand that exists to teach about the fundamentals of entrepreneurship and personal development. It has been referred to as “the best channel for entrepreneurs.”  Patrick is the author of Your Next Five Moves: Master the Art of Business Strategy. Sponsored By: Wise - Join 13 million people and businesses who are already saving, and try Wise for free at Wise.com/yap Jordan Harbinger - Check out jordanharbinger.com/start for some episode recommendations LinkedIn Marketing Solutions - LinkedIn is offering a $100 credit on your next campaign. Go to LinkedIn.com/YAP to claim your credit Open Door Capital - Go to investwithodc.com to learn more! Shopify - Go to shopify.com/profiting, for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features Resources Mentioned: Books by Patrick: https://www.amazon.com/Patrick-Bet-David/e/B006K8HXCE   Website: https://www.patrickbetdavid.com/ Linkedin: https://www.linkedin.com/in/patrick-bet-david-3731553/ Instagram: https://www.instagram.com/patrickbetdavid/ Twitter: https://twitter.com/patrickbetdavid Facebook: https://www.facebook.com/PatrickBetDavid.Valuetainment YouTube: https://www.youtube.com/user/patrickbetdavid Connect with Young and Profiting: Hala’s LinkedIn: https://www.linkedin.com/in/htaha/     Hala’s Instagram:https://www.instagram.com/yapwithhala/     Hala’s Twitter: https://twitter.com/yapwithhala  Clubhouse: https://www.clubhouse.com/@halataha   Website: https://www.youngandprofiting.com/  Text Hala: https://youngandprofiting.co/TextHala or text “YAP” to 28046 Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of YAP is sponsored in part by Shopify. Shopify simplifies selling online and in-person so you can focus on successfully growing your business. Sign up for a $1 per month trial period at Shopify.com slash profiting. Booba one will save you on all your eats. Savings can't be beat. Up to 10 percent of your order. Join Booba one and save $0.00 delivery fee and percentage off discount subjects to older minimums and participating

stores. Taxes and other fee still apply. You're listening to YAP, Young and Profiting Podcast, a place where you can listen, learn, and profit. Welcome to the show. I'm your host, Halla Taha, and on Young and Profiting Podcast, we investigate a new topic each week and interview some of the brightest minds in the world. My goal is to turn their wisdom into actionable advice that you can use in your everyday

life, no matter your age, profession or industry. There's no fluff on this podcast and that's on purpose. I'm here to uncover value from my guests by doing the proper research and asking the right questions. If you're new to the show, we've chatted with the likes of XFBI agents, real estate moguls, self-made billionaires, CEOs, and bestselling authors. Our subject matter ranges from enhancing productivity,

had to gain influence, the art of entrepreneurship, and more. If you're smart and like to continually improve yourself, hit the subscribe button because you'll love it here at Young & Profiting Podcast. This vegan app, we're chatting with Patrick Bet David. Patrick is a CEO and founder of PHP Agency, an extremely successful insurance sales marketing and distribution company. He's also the creator behind the YouTube channel Value Tainment, which has over 3 million

subscribers and has been referred to as the best channel for entrepreneurs. He's the host of the BPD podcast and the author of numerous books, including his latest, Your Next Five Moves. Patrick has been featured by Forbes, CNN, Fox, Entrepreneur, and many other media outlets. In this episode, Patric shares how his upbringing influenced the way he approaches business and life. We learn the difference between an entrepreneur versus an entrepreneur, and why sometimes entrepreneurship is not the answer.

We'll then get into Patric's new book, Your Next Five Moves, and we'll gain insight as to why it's critical for successful entrepreneurs and chest-grandmasters alike to have the ability to envision and anticipate their next five moves. Whether you feel like you've hit a wall, lost your fire, or simply looking for innovative strategies to take your business to the next level, this conversation with Patrick Bette David is likely to have all of your answers. Hey Patrick, welcome to Young & Profiting Podcast. It's good to be on with you. I am very stoked for this conversation. You are the CEO and founder of the PHP agency and the

creator behind the hit YouTube channel Value Tainment, which is a number one YouTube channel for entrepreneurs. And before we get into your come up story and your most recent book, your next five steps, I did want to touch on your amazing story. You were born and lived in Tehran during the Iran-Iraq war in 1987. Take us back to those terrifying days when you were just eight years old and what those moments were like for you. It's crazy you're asking that question.

We were just having this conversation with somebody. But yeah, it was born in 1978 during the peak of the revolution in Iran, where they were kicking the shot out. So I was born October 18, 1978. Four months later, he went into exile. Chomene came in, the moment Chomene came in, Saddam Hussein and Iraq saw the fact that Iran wasn't shambles and Chomeini didn't have the military leaders ears that didn't really respond to him. So this was a weak moment in Iran he attacks. So we were

at war with Saddam Hussein in Iraq for quite a while. I remember one day we were living in Tehran Iran and we got bomb the 160 sometimes in a day. We escaped Tehran. We went to a city called Kharaj and then from Kharaj we went to Bandar Palavi, which is like North Iran. And then eventually we came back to Tehran and my mother finally said, this is not a place to be. We would always watch Rocky movies. We would watch movies with a dream of one day coming

in America. And my mom told my dad, if we stay here, this guy has to serve the military. And I don't want my son to serve the Iranian military. My dad agreed, We sold everything. We got on a plane. Lufthansa plane went to Germany, and I lived at a refugee camp there for two years, and from there came to the States.

Couple things that helped me out with both of those areas. In Iran, extreme level of paranoia, which some people might say paranoia is a good thing. It's a very good thing if you're a military leader. It's a very good thing if you're a parent. It's a very good thing if you're a founder of a company. It's a very good thing if you're an investor. It's a very good thing for all of those things. So that paranoia got me to always be thinking about what if we go out of business?

What if we do this? Let me save a little bit more money. Let me invest more here. What if the speed slows down? What if we can't expand it? What if this was always that? So you're more urgent. You'll put two, three, four, more hours a day, you'll show up on a Saturday,

maybe you'll do a half day on Sunday every once in a while. And then in Iran, in Germany at the refugee camp, we were there with people from Yugoslavia at the time, Albania, Poland, Afghanistan, all over the place. I have to learn how to be friend people from different ethnicities. So I learned people skills in dealing with different people. That was very helpful. And it came to the states in November, 20, 1990. And that brought a whole slew of different issues that had to get better.

So talk just about how coming from immigrant parents, like really shaped who you are in terms of like wanting this massive amount of success. Like you are extremely successful. Why do you think that is because I find that people who have faced the most adversity end up being the most successful in life. I just had the coach. If you've seen the movie King Richard with Will Smith, the story of Serena Williams, he just left the office five minutes before I got on with you. I had him on the podcast just a minute ago. And we were talking about what it was like. He's played by John Bernthal in that movie, King Richard.

And he says, parents were tougher back in the days under kids than they are today. So your Middle Eastern like myself. So, you know, our parents are a little bit more High standard pressures like you better do this you be a doctor or a lawyer or an engineer and if you become an engineer You're a failure in life if you don't have a four-year degree How dare you not have a four-year degree? It's constant pressure, right? And so the idea of being raised in in that environment It was constant and never ending pressure

to perform. Which if you decide to compete in the world of business, we talked about players like Benson and two plays for the Net, you're from Jersey, so you know, he's in that area. But Benson is just came to the Net from Philadelphia. He got $20 million last year for not playing, this year for not playing. And then he's coming to the Net, he's clear to play, but he doesn't want to play because mentally he's going through certain challenges. And then these other tennis players are saying the same thing.

Some of the Olympic players are saying the same thing. What being raised in that kind of an environment toughened me up where I could maybe tolerate pressure in a better way because I've had pressure in my life, my entire life since I was a kid. So this is nothing compared to what we went through. Maybe that's the strength that you get from having that kind of an environment.

And now I have four kids, I have two boys and two girls. I'm trying to create that kind of a pressure for these guys. It's hard to do because they live in a resort. They travel everywhere. They have a certain lifestyle that they're accustomed to. So I have to figure out ways to create that pressure for them in a different way that maybe I don't have access to because ours was natural. But I think you need that the more you have that as a younger age, the more you're going to be able to handle it later on in life because life is very, very hard. It's not easy.

very, very hard. It's not easy. Living in today's times, marriage, raising kids, finances, temptation, challenges, competition, conflicts, crucial conversations, staying healthy, taking career investments, following politics, yet not following politics. It's a different era we're living. So it pays a lot to handle pressure today. It's a very, very high paid skill set for those who it pays a lot to handle pressure today. It's a very, very

high-paid skill set for those who don't have how to handle pressure. Yeah, oh my gosh, I love that answer. So let's talk about when you immigrated to the US. So it wasn't exactly smooth sailing. In high school, you actually had a 1.8 GPA. You had a really low SAT score. And so why do you think that you struggled so much in high school? Was it a language barrier? Yes, so in high school, I took ESL all the way through college. First semester when I had ESL and I left college, I dropped out. But in high school, I was on math.

I love math analysis. I love pre-calculus. I love everything to do with numbers. To me, math is like incredible. Everything else I failed biology. I could care-calculus. I love everything to do with numbers. To me, math is like incredible. Everything else I failed biology. I could care less about biology. It did nothing to me. My teacher at the end, when it was Miss Tiffany,

we're at our final and she says, can I have Patrick, but they've been in a shant standup. Me and Shant, this other kid standup. And she says, even if you got 100% on this test, you still wouldn't get a D. So she says, I love you guys. You guys are very funny, but you have no reason to take the finals.

She gave us a hug and we left. I had many of these classes that I had no interest in. I had no interest in certain classes at that phase of my life. I was interested in selling, I was interested in making money, and I was interested in people. So if let's just say you and I were classmates, I would have known everything about you

by the end of the class. I would have known about your parents, their names, their date of birth, their date of birth, your favorite food, your favorite sports teams, your life sports teams, your favorite movie, your favorite song, who's your favorite teacher in school, who's your favorite quarterback. I would have known details because I'm curious about you.

I was the curious kid that wanted to know the why kid, I was always like, what do we do this? Why'd you do it? What motivated you to do this? Why do you like this so much? I don't like this. Why do you like it? It was curiosity. So that helped me out when it comes out to business because I was extremely curious about human beings and what got them to take. So I had zero interest in the current education model that they had. It was extremely boring to me. Yeah. And it's really interesting that you say that because sometimes the traditional school system doesn't really cover what you actually need in real life. And it sounds like you were more about getting that experience and having social skills. And actually, that can really pay off later in life. So I think that's pretty interesting that you say that.

So you ended up joining the military because you basically thought you had no other choice. What was the military like for you? How did you apply those skills to entrepreneurship? I love the military. One of the best decisions I ever made is going into the military because I learned how to again get along with people from Mississippi, New York, LA, South Dakota, North Dakota. I learned the different cultures in the States. I learned what it is to work 80 hours a week steady for six months straight. I learned what it is to sleep in dirt for a couple of weeks and couldn't stand it. I learned camaraderie. I learned all of that stuff and military taught you hard work in a way. People think they've worked hard until they go to the military and then they come out

and they say, shit, that's suck on how much we have to work. Are you kidding me? Like, this was ridiculous what we had to do. It made no sense. Like, you're so tired. I remember one time, I'm a bootcamp. We've done so many pushups and anytime an officer walks out, you know, everybody's a company, a tank

and everybody would stand like this and you have to salute the officer. I couldn't salute where my left hand is holding my right arm up and it would fall. And my shoulders were gone. So training was amazing. Cardio was non-stop, but it brought us together. If you were at our army unit, you knew us. It was a group of our friends, myself, McElroy, Bradford, Gutiérrez, a clinger man. It's a group of us. We were inseparable. You couldn't separate us when we were together. So you learn a lot of that stuff. And when I got on, I started working at Valley Total Finns and Sales. I brought that camaraderie. I brought that. You have to be emotionally tough because we were very sarcastic towards each other. People couldn't

handle it. Like everybody would take shots at each other, but we could do it to each other. And then people wanted to get into the circle, but we were kind of like, you got to really be able to handle this circle. This is not an easy circle to be a part of. We really kick each other's ass and look, oh, but I want to be a part of it. And then we try you. I don't know. You're too soft. You can't handle this. There was a certain level of toughness. And I brought that back into our sales team that we applied. But it wasn't for everybody, but I love that. I wouldn't do it any other way. One of the best decisions I made in my life. Yeah. Something that I keep hearing from you as you're talking about these stories, what

sounds really important to you is all the connections you were able to make from all these diverse backgrounds. Like you said, when you're in the refugee camp, you met all these people from Europe and you had to learn how to be their friends. You came to America, you were curious about your classmates, you went to the army, you met all these people from the states and had to build camaraderie. Why is that so important to you? Why does that stick out to you so much when you tell these stories?

Motiv, motivation, stories. Everybody's family screwed up in a way or another and we all hide it very well. We all have that one relative that screwed up. We all have those moments where we family screwed up in a way or another and we all hide it very well We all have that one relative that screwed up We all have those moments where we were screw up at time that connection gets you to see the humane side of people That we have a lot more in common than we think we do we may disagree on who's the best sports team We may disagree on what we think taxes need to be we We made this agree on clothes or music or some of that stuff. But about 95% of stuff in life, we most people agree with. And it's finding that commonality. And then outside of that, I don't think there's more exciting

product in the world than people. I can't think of a more exciting, interesting product in the world than people. Yeah, cars are nice. Yeah, homes are nice. Plains, gadgets, technology is nice. But human beings, the steady motion is that feeling. It's that finding what button moves you versus moves me versus moves my kids versus moves my best employee and finding out why that person who is so extremely talented, the other day I had the boys, my sons,

watch Goodwill hunting, and there's a scene where Ben Affleck tells his friend, Matt Damon, saying, I swear to God, I've got to fight you three years from now, I'm gonna kill you. He says, what do you mean? He says, look, some of us are not as smart as you are, but if you don't use that for anything, you're an idiot. So you're what are you talking about?

I see myself living here for the rest of my life, just, no, I don't. You gotta get, he says, I look forward to one day coming up to picking you up and I knock on your door and you don't answer. He says, every day I come to pick you up, I hope is the day that you're left without telling any of us because you're going to go out and pursue your dreams. And eventually it happens when he goes knocks on the door and I don't know if you've seen him or be good while hunting and he doesn't open a door and that one scene it's an emotional scene it's kind of like eventually we all have to make a decision to open that door and

go spread our wings and see what we're capable of and that moment is scary it's frightening because it's on us if we win it's on us if we lose it's on us you can try to blame your mom your dad your ex your boss your siblings, your, you can blame anybody you want. But unfortunately, the market's going to put it back on you. And they're going to say, Hey, man, I was your fault. I know you don't want to hear this, but it was on you. Hey, good job. You won.

That's also your fault. And then shows up haters and competitors. Like, when I thought everybody wanted me to win. Well, no, not everybody wanted to see you win. Some people said that, but only if you actually wanted to see you win. How do you handle that? Because some of them were your friends, some of them were your relatives. This is all part of test and life. And very few people can handle all of this, but I don't know. I'm fascinated with human beings with people. Let's hold that thought and take a quick break with our sponsors.

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And I can't wait to get into using your haters to fuel your motivation and everything later on. But let's stick on your story. I want to learn more about your come-up journey is super inspiring. So you left the military and then you want it to become the next Arnold Schwarzenegger. That was your plan. You went to California, I believe, and you wanted to just become like a bodybuilder and make your way that way. So talk to us about that. Yeah. So I was the guy. If you would come to my army barracks, I had pictures of bodybuilders, fitness models and Arnold and John Travolta everywhere. I mean, that's what it was. When I say John Travolta, I mean, from the movie Stay in a Live or

Saturday Night Feeb, I was the guy that would wear polyester pants with bell bottoms and I would wear these shirts with the big colors. You should see some of the pictures. It's not a person many would recognize if they follow my content. But yeah, I got out, I said, I'm going to be Mr. Olympia. I'm going to win Mr. Olympia one day, then going to Hollywood, be a big star, and then I'm going to marry a Kennedy and then one day I'm going to be the governor. So, God, that's what I'm going to be, right? And then I came out and I went to Mr. Olympia show myself to kind of learn

if this is what I wanted to do or not on a party with some of the guys. And I'm like, there's no way in the world. I'm going to put in my body, what I have to put in to win this thing. And I'm 6'4", 6'5", I'm way too tall. The right height for bodybuilding is 5'10", 6'5 is too tall. Maybe 5'11", my muscles are longer, so longer muscles to develop. It's tougher than shorter muscles. Anyway, so I said, yeah, I'm tougher than shorter muscles. Anyway, so I said,

yeah, I'm not doing Miss Rolimpia, but I came back and I started working on Morgan Stanley Dean Wooder. I made a grown-in of Jean-Vierre, who was working on Morgan Stanley. We met at Venice Beach. We started dating and I said, you know what? I'm going to try this Morgan Stanley thing and give it a try if she worked there. I sent my resume in with a joke on the cover letter of it. I sent it to a hundred different places. 30 people called me back. They thought the joke was funny. 15 of them offered me an interview.

And I think I got three offers and I took Glen Bell Morgan Stanley Dean Wooder. And I was 21, 22 years old when I first got started with them. Got my Series 766, 31 Life and Hell 26. And I went that route. So as much as I loved Hollywood, as much as I loved storytelling and going and being a big time actor in Hollywood and playing the roles that I wanted to play, that moment I'm like, no, I'm leaving this behind. I'm going to go this way. Maybe one day

I'll make movies and I'll create a smaller part for myself, but I'm going to go into business and I saw everything from the lens of a mathematician, numbers, all this stuff, fell in love with financial industry. And obviously, the rest of the history there. Do you remember what the joke was on your cover letter? I do. I do. So father once tells his three sons, when I die, I want you to throw a thousand dollars into my burial in front of everybody. I want everybody to know how much you love me. And he tells the sons, you have to make sure you do this. The kids say no prom. So the day comes, dad dies.

First son goes up. He throws $1,000, but it's $1,100 bills. Everyone starts crying. The second son shows up. He throws $2,050 bills. Everybody starts crying. The third one was an accountant. He comes in.

He writes a check for $3,000 drops it in there, takes all the cash and walks out. So that story made 30 people laugh and three job offers. And I ended up working at Morgan Wood out of four-year degree. Again, this is you using your skills as a people person to get what you want, right? It's as everything that you had learned along the way and it ended up working out for you. I love that.

Okay, so let's talk about you being an intrapreneur within your organization because like me, I started my business as a side hustle working at corporate at Disney. So I also worked in corporate and I'm really happy I took that route. I'm really happy that I didn't just start my business without any corporate experience first. So talk just about the importance. Like if that was, you know, you're feeling as well. Do you feel like you don't regret working for other people

and learning off their dime? Yeah, so to be, when I started creating content, I made this video called Life of an Entrepreneur 90 seconds. And this was October 31st of 2015. It's been nearly seven years. And a video gets 10 million views in 24 hours. That's when that was viral. Like everybody's, oh my God, I got 30 million views.

Now a few hundred million views it's had on different downloads and uploads. And everybody was pressured to have that entrepreneur in their Twitter handle, right? I'm an entrepreneur. I'm an entrepreneur. I'm an entrepreneur. And then a guy from IBM sends me a message and he says, look, man, I read your stuff.

I follow your stuff. I feel like in order for me to succeed, I have to quit IBM. And I don't think that's the right decision to make. So I'm doing very well. I love the company, but I don't want to leave the company, but I feel like I have to ask it. You know what? You make a very good point. Here's what you need to be thinking about.

There are many great companies that retain potential future entrepreneurs who become entrepreneurs and they can make the same amount of money as an entrepreneur. What I'd happen to take the risk. He says, what do you mean? I said, well, take Paul Allen, for an example. He's an entrepreneur. We can go through so many stories of how money is made of people who are entrepreneurs are within a company, they become the president, then they become the CEO like Tim Cook who's

a billionaire now. He's an entrepreneur. He's not an entrepreneur. There are so many billionaires today who've always been an entrepreneur. Now what's an entrepreneur? An entrepreneur is an entrepreneur, thinks like them, works like them, creative like them, obsessed like them, O.C. non-stop going, going, going like them. The only difference between an entrepreneur and the entrepreneur's,

the entrepreneur put the money up. That's it. So the entrepreneur gets a little bit more respect because he or she took all the risks. So most people, but I have to go be an entrepreneur, you don't have to be an entrepreneur. Let me kind of put the option to the individual who's thinking they have to go be an entrepreneur in a different way. Say you know Elon Musk at 32 years old, Elon's starting a company and he's planning on buying this one company called Tesla and he wants to compete in the automotive industry. You have a shout out going in and getting the automotive industry. You have a shot at going in and getting 0.2% of the company, but that's nothing, Pat.

Okay, fair. It's nothing. What's 0.2% today of a trillion dollar company, 0.2% of a trillion dollar company, it's $2 billion. So you may have been like, yeah, but you're not an entrepreneur. Yeah, but you're your $2 billion. You did okay. You didn't have to be an entrepreneur. So would you rather be an entrepreneur being worth 50 million dollars or be an entrepreneur or two billion dollars? Yeah. You can go on a liquor store and it's your liquor store

and it's only one and you make a 180 grand a year net, but you're an entrepreneur or you can walk, go work with a killer guy like Moss and get equity in that company and become a Deca millionaire. So that notion between the two social media is confused a lot of people Before people jump and go out there and just become entrepreneurs if you know any killers around you or if you know anybody We said I don't know who that person is, but I know that guy's going places with that new company has started I'm gonna send a message and I want to send a work for you before I start my own business maybe that's gonna be a better out for me. Just as much as you're looking for ideas and companies to work for, look for great creative minds and personalities who you feel are gonna do something massive figure out a way to go team up with them. are going to do something massive, figure out a way to go team up with them. That may be just as valuable as a great company to be a part of, maybe even more. This is so valuable. I love what you just said. I resonate so much with it. And I think

it also is important to understand what you really want because money is not the end all, Biel. It also matters what kind of work life balance do you want? Do you want to have a family? Do you want to work 18 hour days for four years? These are all questions that you need to ask about yourself and what you truly want in life. And sometimes they don't align with being an entrepreneur of a huge company. It's really hard to be an entrepreneur in a CEO.

Extremely difficult. Yeah. OK. So let's talk about how you started your first company. So you worked at Trans-America for over seven years and then you started a national finance service company, PHP agency. And you say your business was inspired

by saying your dad told you never be afraid of the truth. Why did you decide to start that business? Yeah, so I was working at Trans-American. I was at Morgan Stanley prior to that. And a few things happened during that era. Number one is I saw in the securities industry when you were selling stocks, bonds, mutual funds, you had to report to your boss, broker dealer,

every time you communicated with somebody on Facebook. So it was very weird. You're like, every time I communicate with a client, I have to report it to you, you do. Why? Because that's the BD Guidance. I'm like, that's very weird. You're like every time I communicate with a client, I have to report it to you. You do why? Because that's the BD guidance. I'm like, that's just insane. Because social media is the way of life as well, because you have to report everything on email, you have to report everything on social media. I say, you don't understand, that's not sustainable. Well, that's what the regulation says. It's not okay. It sounds good. Being somebody that's security's license, I have to adjust to it. Then I said, that's

not going to last long. Turn social media is here to stay in. It's just gonna get bigger. This is all four, 18 years ago. Then I watched a guy named Ron Paul raise $6 million on my space in 24 hours. Okay. Now this is my space. Most people don't know what my space is.

If their age starts with the number two, or their teenagers, they don't know what my space is. My space, your age has to start with They don't know what my space is, right? My space, your age has to start with three to really know what my space is, at least that you used it, right? So he raises 16 and a year old man, runs for president and raises $6 million on my space in 24 hours,

and it becomes a Guinness Book of World record. I'm like, that's crazy to see that happen. Then I saw the Hispanic vote become very big. Then I saw one term center to become a two term president, all through social media raising $5, $10, Barack Obama. And then I saw every article talked about the fact that for every dollar that spent 75 cents of the dollar spent, the decision maker was a woman.

So women power was getting girl boss. This was like it was starting to become more and more and more women wanted to become business owners and executives and entrepreneurs. Anyways, I'm watching all this stuff. I said, this is the direction the financial industry is going. So October of 2009, I started my own insurance company. I wrote a book about the next perfect storm and I explained, here's what's going to be happening. And today, if you come to one of our conventions, we just had a convention at the MGM Grand Arena, you come in August, well, I have 15,000 people there. We've had the late Kobe Bryant

interviewed in front of everybody. We had President Bush there. We've had Kevin Hart, Judy, a responsible tour here. We've had Sebastian Manuscalco perform last year. We had Nikki Jamder, Mike Tyson. We had Mario Lopez was our MC this year. We have Shaq. We have Kurt Warner. We have Leila Ali. We have Penn and Teller performing. We have Nellie's opening up, the convention as a concert. But the average agent today is a 34 year old Hispanic female. So I saw the youth, I saw the women, and I saw Hispanic, and then we're multicultural. So you'll see 15,000 people from all different backgrounds. So those trends that I studied is what led me to start an insurance agency targeting that specific audience, and it led to what it is today.

That's amazing. And so you really made insurance sexy. Typically, an insurance agent is like an old white guy, right? And you're having like young Latino women selling for you. How did you attract those types of employees? Did you set out from the beginning? I want to have a really diverse workforce and sort of disrupt everything. You set that out from the beginning. Yeah, so you're not married, right? No. Okay, so when I was single, here's what I did as a man.

So everybody's like, well, what are you looking for? I'm a woman. Here's what I'm looking for. Men typically are not as clear of what they're looking for early on. You guys get it earlier than we do, right? One day, one of my agents wife, Patty, I said, Patty, I made up my mind I'm staying single for the rest of my life. I ain't your mom company. I'll have girlfriends

But I'm not getting married. This is well before you decide to not get married read this book call a hundred One questions to ask before you get engaged. I said okay. I'll read it So I read the book. I'm like wow. I thought I was looking for this in a wife and I'm looking for this It's crazy. I have no idea. It's okay. This is kind of cool. Now. I know what I'm looking for this in a wife and I'm looking for this. It's crazy. I have no idea. So, okay, this is kind of cool. Now I know what I'm looking for. Well, once you know what you're looking for,

your job is to tell the world what you're looking for. Why? Because your friends know to give you good referrals of what you're looking for, your coworkers know, what you're looking for. There's a difference between saying, man, I'm looking for a hot girl to date, but that's very general. Versus, if you say, I'm looking for somebody who's between the ages of 27 to 32, who's never been married before, who is a worker, career person, somebody

who's hiding between five, two, and five, six, athletic, likes to work out. See, the more I go, the more specific I'm being. So you may know a thousand different women, but I just eliminated 95% of them. And you're only thinking now about four girls that you may know that maybe a good fit to go on a date with me. And I don't even know if they're gonna be interested in me, right? But I went from a thousand to four. The more clear I got about the target audience I was looking for then I started telling everybody I'm looking for young

Hispanic women Competitive sports minded that I'm married with kids. This is what I'm looking for fantastic. They showed up So you understand once you get clarity on the target market you're going after then you're better at asking for referrals And your referrals are more focused, rather than general, make sense? So it's a, well, you know, you say, say I'm your booker and say, well, I want to get some good guests on the podcast and all of a sudden your booker sends you a list of names. You're like, I'm not interested in these guys. Well, can you give me a little bit more clarity on who you're looking for?

I'd like to have people guest as a podcast that are that, that, that, that, that, that, that, that, that, that, that, perfect. Let me go find them. So I got more specific. I told everybody the right people guess as a podcast that are that that that that that that that perfect. Let me go find them. So I got more specific. I told everybody the right people started showing up. I love that. Okay. So last question in terms of getting to know you before we get into your book, your next

five moves. And so I found this quote for me that I really loved. You said reading an hour a day is only 4% of your day, but that 4% will put you at the top of your field within 10 years. And it actually reminded me of something that Stephen Kotler taught me, which is that books are the best ROI on your time. So authors, they spend hours and hours, maybe their whole lifetime creating a book, and then

you get to digest it, and just a handful of hours. So I'd love to understand how reading changed your life. I mean, you said it earlier, right? One point at GPA, first time I finished a book covered a cover, I was 21 years old. I've never finished a book covered a cover. I was 21 the first time I did it. And then once I read a business book,

I'm like, I can't believe this isn't a book. I've read now over 2,000 books and God knows how many business articles. And that led me to who I am today. I think it's an edge. I remember one time one of my advisors came and stayed on my place and he went to the room that he had and he went into the shower. He's in the shower for 45 minutes and I'm like I know this guy very off-traveled, the world

of this guy. That's a long-ass shower to be in my bathroom. What is this guy doing in my shower? So all of a sudden he comes out pumped up like you, you good? It says, yeah. So what's up with you? He says, your wall, your wall in the shower is awesome. I said, which wall? Well, I had all my affirmations on the wall. So he went through all of my affirmations because I would lemonade them and I would put it on all my showers.

So if I'm in the shower, I'm always reading my affirmations in the shower. While I'm in there. Oh, this is a great idea. I'm going to do the same thing, et cetera, et cetera. Well, those affirmations are byproduct of the books. I would read a book. I'd get a quote. I put it in there, right? Be careful what you joke about or be sarcastic about because your spirit stops having faith and a worse outcome out of your mouth. Boom. That's power. Highest form of maturity becomes, is when you become independent of others' opinions. Oh, that's awesome.

Highest form of maturity, independent of others' opinions, I can handle more time. All of these things were being added, one by one, by one, by one. Again, by product of books. And then eventually, they stick. The more tell you tell it to yourself, they stick and you start becoming these quotes. Yeah, let's stick on the law of attraction because I know that you have a unique perspective on the law of attraction. Why is it not enough to just say affirmations?

What else do you have to do? Listen, that's a compound when people say, you know, law of attraction, if I say good things are going to happen to me, you know, that's not how this thing, life works. The question about what's the key to success? I've asked God knows how many people, I'm say, oh, the key to success, marry the right person, work hard, save money, go to college, love people, believe in God, there's so many of these different keyster success, right? For me, it came down to a few different things. One, on myself to enjoy my own company is alignment, because if I live a life, the behavior of my life is aligned with my values and principles, I'm at peace.

But if the way I live is different than the values and principles, I'm just out of whack. So I'm tough to be around. There's a bit of bitterness there. What is Pat dealing with? All you have to know is that this is out of whack a little bit, right? That was more alignment when people want to be, I feel people who are calibrating at the high school and competing at the high school, they're very aligned.

Then the other side for me to keep the success was outward, out-improve, out-strategize, and out-last. Out-last, we're not really going to know who the real competitors are for two decades. So, most people are picking their rabbits way too early. It's gonna be 20 years till you're gonna know who's who. 20 years ago, nobody would have put Elon Musk on that list. 20 years later, it's musking basals. Those guys have made it very clear is who they are. So, social media influencers we're not going to know who the killer social media influencers are till 2035. We're not going to know. It's going to go on for many, many more years. 2035 people. Remember that one guy that used to all

the right to talk about it. Everybody talked about her on Twitter, Instagram, everybody talking about her on YouTube. I haven't heard that guy's name for the last five, 10 years. What happened? So the pool starts busy and then all of a sudden only a few people make it at the top, right? So out work, out improve, out strategize, and outlast. Last takes 20 or strategize, takes a while because it's going to take a while for you to come up with good strategies, out improve, if you want to compete with anybody, beat them and out improving them and out work. So loss of attraction is good. It's form of affirmations, but affirmations by themselves

without out-work, out-and-prove out-strategies at last means nothing. We'll be right back after a quick break from our sponsors. Hear that sound, young and profitors? You should know that sound by now, but in case you don't, that's the sound of another sale on Shopify. Shopify is the commerce platform that's revolutionizing millions of businesses worldwide.

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I talk to David Mellzler and he talks about the law of Goia. Get off your ass. You've got to combine that with the law of attraction if you want results. Okay, so let's talk about your most recent book. It's called your next five moves. You wrote it in 2020 and the title of the book is related to chess. And you say that you always need to be thinking steps ahead of your opponent to win. So talk to us about the vision and mindset of a chess master and how that is related to business. Life is all about sequencing, all about sequencing. You and I may play the same game, but your moves may be better and my moves are not.

You're going to beat me. Meaning, I'm so impatient that I'm moved that I'm supposed to do as move 19. I do that move three. I lose versus you are willing to be patient to do move 19. At move 19, you have an edge over me. I once watched this movie years ago, it was called Flash of Genius. I don't know if you've ever seen a movie Flash of Genius. It's the story of a guy who invented the windshield wiper. He had this winter intermittent windshield wiper that he invented. So there's a scene in this movie where he's in court.

It's a must watch movie. He takes these intermittent wiper years ago when cars are driving and they can't get rid of the rain or the snow. And he invents this. It's a very big deal. He takes it to Ford Chrysler to everybody while they blow him off, but they take his patent and do it themselves and he never makes the money on it. So wait a minute, I came up with this. They're like, no, you just use three parts and put it together. He says it doesn't matter. I came up with it. They blew him off. And they were thinking this guy's going to be gone because he doesn't have the kind of money to go up against four lawyers. Where long story short, he goes to court against these guys.

He loses his wife. He loses his kids because he lost his house everything. He was that stubborn. And his wife leaves them, takes the kids. The guy's got nothing left to his name. And then there's this one scene where he's standing up and he says, so you guys all saying that it's not a big deal because I just took three parts and put them together and anybody could have done it. Well, how come you haven't done it all these years? And I was able to do it. He says, your honor and he looks at the jury. He says, I have a question for you. He grabs a Charles Dickens book. He grabs it, he opens it up, and he says, Have you ever used the word sometimes?

Yes. Okay. Have you ever used the word conflict? Yes. Where's the sky going with us? Have you ever used the word love? Yes. Every word that Charles Dickens used in the dictionary in his book, we all know what? But the reason why this thing sold millions of copies and why we're not Charles Dickens used in the diction in his book, we all know of. But the reason why this thinks so millions of copies and why we're not Charles Dickens and he is is because he knew what order to put those words that we all know about. We could have done the same thing,

but he knew the order. Finally, the jury says, shit, this makes a lot of sense. The guy ends up getting $28 million. And I'm talking 28 million in 70s and 80s, not $28 million today. $28 million during that time, and that's how the story ends.

So what does this mean? You ask the question about your next five moves. Everything you're sequencing. If you start looking at life from a sequence, you'll make decisions in a different way. So what's better? Date first, have kids, and then get married. Now, date first, take your time, depending on your religion, maybe live together for a couple of months,

maybe travel together to get to know each other, then maybe get married after you're engaged, maybe stay engaged for six months, then get married, maybe enjoy each other's company for a couple of years, then have kids, maybe enjoy each other's company for a couple years, then have kids. I'm not telling you that's what to do, but I'm just saying like there's an element of sequencing. You start a company, wow, I'm going to go start a company, and I'm going to go out and do XYZ. Okay, well think about what's the right sequence within the company you're starting.

Who do you go recruit first? Who's your first hire? Who's your fifth hire? How much money should you raise? Should you raise capital based on debt or equity or cash? What should you do next? All of that is sequencing. So the people unconvinced that went at the highest level, they obviously take the bigger risks, but they're much better at sequencing than everybody else. And that's why I want to book your next five moves.

This is super interesting. I've done over 300 interviews, and nobody has ever talked about this. This is the first time that we've talked about sequencing in terms of decision making. So you talk about five moves. Why is it five? Why isn't it 10?

Because you might think the more moves, the more better off I'll be. So why five? I originally suggested 15 moves, because a grand master in chess knows your next 11 to 15 moves. I said your next 15 moves, but then the publisher Simon and Schuster said, that's going to be intimidating.

It's a lot easier if we go with five moves. I said no, Pram. We go with five. But in my mind, I'm more 15 moves. So I think you got to be thinking 15 moves ahead. By the way, this will concept of your next five moves or your next 15 moves is not only within your health, it's also with your confidence. I got four kids, so I have your next 15 moves with them,

sports, art, you know, the interest that they have. It's your next 15 moves and your marriage, your next 15 moves with your companies, your next 15 moves with the podcast, your next 15 moves with signing companies, your next 15 moves with the podcast, your next 15 moves with signing talent to bring it on board. Your next 15 moves are where I should buy my properties now on the company, is buying domains. It's not just one dimensional. It's your next 15 moves in everything you do. So essentially, if you unpack this and you come up with 15 moves in every

aspect of your life, you could come up with 150 different moves, but they're different. So imagine looking at your board and you come to your work and you're looking at the wall and there's 15 moves for all different areas of your life. You handle your day in a different way. You make decisions in a different way. You take on new hobbies in a different way. You're a little bit more hesitant about picking up a new hobby that could maybe take 12 hours of your week from

you. You treat everything in a different way. You hire people in a different way. You invest in a different way. Everything becomes slightly more intentional when you're looking at the sequencing. Yeah. Now, how do you go about kind of deciding what order you're going to do things? Because that seems like a lot of pressure. Like somebody might think somebody might think like well what if I make the wrong move then all the other moves are wrong like what are your thoughts on that? That's part of the game though you play monopoly and if you go right off the bat to one of my boardwalk and you spend all your money on boardwalk and say I go and buy Indiana

Illinois and maybe it's a little bit cheaper to buy that versus the other one maybe you shouldn't about boardwalk right off the bat because it's only two pieces anyway it's on little bit cheaper to buy that versus the other one. Maybe you shouldn't buy boardwalk right after that because it's only two pieces anyway, it's in all the way at the end. So maybe you should have bought a Atlantic. Maybe you should have bought a couple different. But that's part of the game. That's how game works. You got a kid.

We all out of a son saved money. We have a thousand dollars. If you go spend all your money in one place, well, maybe you bought something that doesn't give you return and your other kid took that $1,000 and invested and that $1,000 now $1,800. Judds on you, so many things we can do with our decisions that are short-term benefits

without delayed gratification. Like, I'll test my kids and I'll say to follow them. They'll say, Daddy, can I have some ice cream? And I'll say, yeah, you can get one lick of chocolate ice cream right now, or I can let you eat an entire ice cream at eight o'clock tonight when we get home. What am I doing to the kid? If he says one lick, I'm like, shit, this guy's thinking short term.

I'm hoping the kid says what? Yeah, I'm not going to take a lick. It's not worth it. I'll wait till the end of the night. Okay, cool. So I'll give you a scoop at the end of the night. I'm teaching the late gratification, right? So we'll be tempted to make some of the decisions right now that we wanted right now, but you as a leader, as somebody who's got a big vision, you've got to be patient to make the right

moves and the right sequence. It's tough to go by the way, very hard to do. Yeah, it sounds tough, but it's super, super helpful and interesting to hear you talk it through. Okay, so we've got about 10 minutes left. So I'd love for you to walk through the five moves and achieving your goals. So that's master knowing yourself, master the ability to reason, master building the right team, master strategy to scale, a master power plays.

So number one, the most intimidating question I last people when I'm working with them, I'll say, who do you want to be? And they're like, what do you mean? So who do you want to be in life? I don't even eating question. I'll ask people when I'm working with them. I'll say, who do you want to be? And they're like, what do you mean? So who do you want to be in life? I don't understand the question. Who do you want to be? You want to be the one where all the pressure is on you.

You want to be a role player. You want to be somebody that's doing something very, very big. How big of a life do you want to live? You want to live a life where you got a nice condo and you're making 150 and you're somebody that works 9 to 5 and you're okay with that. And there's zero envy in you if one of your friends becomes a billionaire or do you want to live a life where you want to find out what your full potential looks like. You are really curious why did God make me talented in these fallen areas?

Why'd you do this to me God? Why don't you give that talent to somebody else? I know I'm talented in these three areas. Why'd you give it to me? I cannot live the rest of my life not knowing why that is. So who do you want to be? Kind of a life you want to live? That's a heavy question when I ask somebody. And they have to really think about them. There's a way to go through that process to know who you want to be in the kind of a life that you want to live. That's number one. I made a decision a long time ago

who I want to be in the kind of a life I want to live. I remember it's oh wait. At this point, I've spoken in front of a hundred thousand people. I've spoken in front of audiences of 15,000. I'm in my late 20s. I've made good money. I drive a nice car. I've dating a girl that I wanted a day who's now my wife who've been to get a nearly 13 years. I've traveled the world. I've been in 40 countries at that age. I've seen a lot, right? I've partied. I've had a good time all of it. But I have a feeling of emptiness. I'm like, yeah, okay, it's got to be bigger than this. What is it?

It's like, bring all my advisors together. We have a meeting and I say, guys, I want to know what I want to do my life, what my role purpose is. And it's just really driving me nuts. Because I think it's bigger than what I'm doing right now. So I asked one guy who was a pastor. I said, do you think I'm supposed to be a pastor?

And he says, well, listen, I've been in the church game for a while. I can tell you for a fact, you're not made to be a pastor, okay? You're a business guy. There's nothing about you that's a pastor. You just stick to what you do. I'm talking good. That's not me. Hey, do you think I'm supposed to go do? No, you're not. So eventually I meet this one guy, George Will, who tells me, why don't you find out why 40 million immigrants come to America? Why do we call this the American dream but you've never heard of the Russian dream, the German dream, the French dream. Why don't it call the British dream or the Brazilian dream? Why is there only the American dream?

Why? Go study it and talk about that for the rest of your life. So I went and I did. I couldn't stop talking about it. That got me for me to realize who I want to be and what kind of a life I want to live that inspired a L out of me to explain Capitalism with the life that I've lived in a complete different way number two is the team to the ability to reason Right, so once I started going through the process that I was going through on improving as a leader I noticed when I was sick with somebody and I would talk to them, I would try to catch this person's ability to reason if it's at a different level of mine. And I want to pull that and draw that out of them, right? And you will know certain people vibrate at a certain level, you're like, ooh, there

was a lot of depth in this guy. This was very different of a person I spoke to. I've never heard anybody explain it this guy. This was very different of a person I spoke to. I've never heard anybody explain it this way. I want to get better at that because in the book Power vs. Force, I highly recommend reading the book Power vs. Force. But he talks about all these different levels that people have on which one produces the highest level of vibration. And the way he breaks it down is that the lowest level that we all have is shame. Then he goes to guilt. Then it's apathy, grief, fear, desire, anger, pride. Then the first level where it leads to power instead of force is courage. You have the courage to make mistakes. Then it's neutrality. You're able to entertain different

conversations that people disagree with. Then it's willingness, you're willing to work with people, you're accepting of people, you don't judge that much. Then it's you're able to reason, have an exchange of ideas. Then it's love, you love people, then it's joy, peace, enlightenment being at the highest level, right? The way he explains it in this book, I got you. So I sat there and I said,

I have to be able to process issues better. So I created a system on how to process issues how to solve problems how to handle issues and that system is a transferable system that I Can give to other people or some people over react when some happens? There was no need to over react and sometimes people under react and there is a need to over react So people sometimes screw that reaction part up and that formulas in the book that you can find. Then the third one as team building, everything in life to me is recruiting. Recruiting the running mate as recruiting the right friends,

recruiting the right mentor advisors, recruiting the right spouse, recruiting the right COO, president, investors, board members. Everything to me in life is recruiting, then getting a formula on how to scale and your strategies, which kind of takes a little longer to get because I'll sit there and not have a count. We just hired a new talent, a very well known talent

that we just signed. We signed it through your contract with her. She just moved you from New York, we're excited about it. She's been a big name on TV for a while and very well known person on TV. So we just signed her and she came here. And we had our entire team, marketing team.

There's 10 people in the room, you got merch, you got design, you got graphic, you got all this stuff, right? And she started talking about, here's what we do this show, here's what we do with that show. And one time I was in the meeting with this and we did that, we did this, sit in a, like, got it. So that's what they did on NBC.

And that's what they did on Fox. And that's what they did on CNN. And that's what they did on ABC. When she was in Roman, these decisions were being made. I'm borrowin strategies and I'm writing them down. But strategy, you have to catch it. If you're distracted, you'll miss it. Somebody can watch this podcast in five different ways. One of them was like, oh, that was cool story. The other one's doing other things, didn't catch anything we talked about. The other one was like, oh, that was interesting. The book, I'll get it.

But somebody can be like, I never heard anybody explain it like this before. I'm going to go buy that book. I'm going to go read this book. The reason part makes sense. I have to be able to reason better. Okay. So everybody, they've received, but if you screwed up and you missed it, you missed what you were supposed to get in the last one, at least the power plays, capital, some businesses dirty. You're naive. If you think, oh my gosh, everybody wants me to be a millionaire. Yeah, okay. And unicorns are gonna fly over celebrating your success as somehow life works.

You have to understand power place. You have to understand if you start winning and taking market share away from somebody else, there's NBS people out there, not everybody. What I've learned is the killers of the killers of the killers at the top, they feel there's so much left that you like, listen, you go get it as well, you win as well, totally fine, they don't come from the envious place, but you have to be careful because if you

got for bit, create an enemy that's very envious, you have to try to minimize it. You can naturally it's going to happen, you can't prevent that, but if you do, you have to learn how to play the power plays with that individual because anyways, it's a complicated world. It really comes out to competition. And I write about that in point number five, moving number five in a book. So that's how we describe the five moves. Amazing. So, guys, we only scratch the service.

I highly recommend you go get his book, your next five moves. I'll stick the link in the show notes. So, Patrick, we ask a couple questions at the end of the show. Can be super quick. We do something fun at the end of the year? So, first, what is one actionable thing my listeners can do today to become more profitable tomorrow? Okay, unfollow people whose language produces a certain energy and feeling in you that is not necessary. It was an hour of your day.

Follow people whose language and methodology of processing issues elevates your thinking. You only have so many hours of focus per day. You can't afford to lose it. Train your negative friends and family to not call you often. The way you train them is if you pick up the phone call every time they call you, now only pick up every three calls. Then go to every five calls, then every seven calls,

then they'll stop calling you because they realize you're not calling, pick, of course I'm not saying, if there's an emergency, but you have to train negative people to not call you because if you train them to call you and you pick up every time, they're gonna call you forever until they learn, theing that answer and calls anymore. I know that sounds

kind of weird, but that's what I would say. No, it's true. You got to protect your energy. Okay. What is your secret to profiting in life? Reading people. I've had tens of thousands of meetings face to face and I like to read energy and people, motives, because you kind of, it's intuition obviously. You're not going to get it right, but if you're right, 78% of time you're in a good company. I love it. Thank you so much, Patrick. I know you have to run. Thank you so much for your time. This was great. Thank you so much for having me on it. It was fantastic. Gap fam, I loved the energy that Patrick Bette David brought on the show. And as we wrap up

this conversation, there's a couple things that I want to leave you with. And the first is this idea of the intrapreneur. This is when you're developing new ideas and innovating at a company that you already work for. So you're not the actual owner of the company, but you have an owner's mindset. These days, it seems like there's so much clout when it comes to being an entrepreneur. And everybody wants to be an entrepreneur, even though I don't think that everyone is capable of being a successful entrepreneur because entrepreneurship is tough.

And you need a certain personality type. You need to be like very optimistic. You need to be a self-starter. There's a lot of qualities that you need to have to be an entrepreneur. And I don't think that everyone has those qualities. And there's lots of ways to be successful aside from entrepreneurship. And I think that often people just take that leap into entrepreneurship without considering if they're the right type of personality to take on the real risks and ups and downs that comes

with being an entrepreneur. And so I learned this the hard way. I was an entrepreneur when I was 25 and I was absolutely not ready for it. It ended up not working out. I didn't know how to monetize the big brand that I had built. Well, I don't regret the experience at all because I believe that everybody should get experiences. And that experience taught me a lot of skills that I leveraged today. I do feel like I jumped into entrepreneurship too early. I didn't have enough of the skills that I needed. And when I got to corporate, I actually became an entrepreneur because I had such

an owner's mindset already that as soon as I got into my first corporate job, which is that Healit Packard, I did amazing because I was very innovative. I thought outside the box, I didn't have all this institutional knowledge. I had a lot of like fresh knowledge from the internet and I just applied that at work. And I really stood out. And corporate was where I really started to level up my business knowledge. I learned how to create PowerPoints, which I use now today. And I was known as the PowerPoint princess at one point because I made such a good presentation. I learned how to run social media pages.

I learned how to do QBR quarterly business reports and more about finances and how to talk to leadership and how to write professional emails and just all these little things that when you're an entrepreneur, you don't really get exposure to. Even the corporate lingo, I feel like has leveled me up as a business person because now I get on all these calls with other people who are in these corporate arenas and I can communicate effectively with them. I know how to talk to them. I know how they feel.

I've been in their shoes before. And so something that I just want you to really just think your teeth into, so to speak, is that it can be incredibly useful to work as an entrepreneur at somebody else's company where you'll be learning and developing your skills on somebody else's dime. So when you work for a company, a lot of the times, hopefully you're in a situation where you're learning, and you have access to training and resources and sometimes they'll even pay you to go to school or they'll pay for your school.

And so there's lots of different opportunities when you're in these corporate structures for you to just learn and absorb and learn as much as you can before you decide if you ever do decide to take the leap. And you also might decide that you ever do decide to take the leap. And you also might decide that there's no need to take the leap. There's executives who are making half a million dollars a year. There are CEOs of companies who rise up the ranks to become a seasweet executive or a CEO who are making millions of dollars a year, which is much more than most entrepreneurs are making after they actually get their profit. It's lots of expenses that come with entrepreneurship. So, entrepreneurship is not always the answer.

And I know we talk about entrepreneurship a lot on the podcast, but I do want people to realize, while entrepreneurship is amazing, it's not for every personality type, and there's so many ways to be successful. That's not entrepreneurship. And you can be successful in your corb job. And maybe you have like a small side hustle. If you want to dabble on entrepreneurship and see if it's anything that you like or that you're good at. So everybody's journey is different and truthfully owning your own business is not cut out for everyone. So like Patrick says, it's crucial that we can honestly answer the question, what do you want to be in life? And once you know what you want, you can start strategizing those five next moves, whether they be working long term for a company that you love, starting your own

business or anything in between. All right, younger professors, before we go, I did want to leave you with some actionable advice. And I wanted to remind you of Patrick's next five moves for anyone in business. And that's number one, master knowing yourself. Number two, master the ability to reason. Number three, master building the right team. Number four, master strategy to scale. And number five, master power plays.

And I wanted to stick on move number two, which is master the ability to reason. And that's because there's an incredible power in the processing of issues. And I think this is something that everybody should know. Entrepreneur, entrepreneur, doesn't matter. Before you act on a problem, you must first process what's happening. And the key success at all levels of business is to know how to process issues. Great processing of issues is an incredible skill and that involves the ability to make effective decisions based on access to information at hand

so that you can have the highest odds in your favor and that also takes subjecting every difficult choice problem or opportunity you face through a rigorous mental analysis. Also playing out strategies, seeing the hidden consequences and sequencing a series of moves to permanently solve problems. But to be great at processing problems, you need to take responsibility whenever you can.

This is a very key, great processors see their role and whatever problem has occurred. While poor processors often play the victim and blame others in external events on their problems, rather than seeing how they themselves contributed to the problem. So if you want to be a great processor, you've got to take ownership. And there's other traits and tips that I can give in terms of being a great processor.

You want to ask a lot of questions, because having more data leads to making better assumptions. Number two is that you don't care about being right or wrong. You're only interested in the truth. You also don't want to make any excuses wasting time and effort on why things went wrong. It's never productive. You want to just look forward. You also want to embrace challenges. You want to be curious and you want to prevent more problems than you solve. Spot the yellow flags before they turn red. The other thing that you can do to be a great processor is to learn how to negotiate.

We have a ton of negotiation content on YAP, and focus on permanently solving a problem. Don't just put band-aids on your problems. All right, so there you have it. Some actionable tips on the incredible power of processing issues so you can master the ability to reason. And before you know it, if you know yourself, if you can master the ability to reason, if you have the right team, implement skillable solutions,

and perform those power plays that we talked about in this episode with Patrick, your success will be inevitable. Well, thank you so much for tuning into another amazing episode of Young and Profiting podcast. If you enjoyed this episode, if you found any value, drop us your feedback by leaving us a five star review on your favorite podcast platform. Apple Podcast reviews mean the most. I'd really appreciate it if you took a couple of minutes to drop us an Apple Podcast review and subscribe

as well. And if you haven't yet, I'd love to chop it up with you on Instagram. A lot of you guys are following me on Instagram and it's been really fun to meet all of my new listeners on there. You can find me at Yapp with Hala or you can find me on LinkedIn. Just search for my name. It's Hala Taha. You can't really miss me on that platform. Thanks for listening to another amazing episode of Young and Profiting Podcast this week featuring Patrick Bet David. This is your host, Halataha, signing off. Are you looking for ways to be happier, healthier, more productive, and more creative? I'm Gretchen Ruben, the number one best-selling author of the Happiness Project.

And every week, we share ideas and practical solutions on the Happier with Gretchen Ruben podcast. My co-host and Happiness Guinea Pig is my sister Elizabeth Kraft. That's me Elizabeth Kraft, TV writer and producer in Hollywood. Join us as we explore fresh insights from cutting-edge science, ancient wisdom, pop culture, and our own experiences about cultivating happiness and good habits. Every week we offer a try this at home tip you can use to boost your happiness without spending a lot of time, energy, or money. Suggestions such as follow the one-minute rule. Choose a one-word theme for the year or design your summer.

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