Money Tips from Wealthy People

Would you rather be a big earner or small investor small investor all day long the way to look at it i have this thing called know your nut grant listen to this and I do this with really wealthy people too no you’re not you don’t need a computer you don’t need a phone you don’t need anything you need a piece of paper and a pencil listen to this

Understanding Your Finances

I asked them just show me all of your income over a 90-day period and on another sheet of paper what you spend in that 90-day period i don’t want computers right i just want you to think about how you make it and even really wealthy people

Introduction

[Music] Hey, welcome! Grant Cardone here, welcome to the 10x money challenge. So Kevin, thanks for taking your time, I appreciate it. Always good, you know, I always enjoy chopping it up with you.

Being a Big Earner or Small Investor

Would you rather be a big earner or a small investor? Small investor all day long, the way to look at it. I have this thing called “know your nut,” Grant. Listen to this, and I do this with really wealthy people too. Know your nut, you don’t need a computer, you don’t need a phone, you don’t need anything. You need a piece of paper and a pencil.

Tracking Income and Expenses

Listen to this, I ask them, just show me all of your income over a 90-day period, and on another sheet of paper, what you spend in that 90-day period. I don’t want computers, I just want you to think about how you make it. Even really wealthy people spend beyond their means – the boats, the cars, the girls, the restaurants, all the stuff that they’re burning cash on that they’re not putting back into the market. You’ve got to start thinking about what happens when you turn 60 and 65. You’ve got to start putting money away and build that nut, that nest egg. If you don’t know your nut, you’re going to go bankrupt.

Earned Income vs. Passive Income

Kevin, would you rather earn income or passive income? Passive income, because I hear some people say, I heard one guy say, a big social media guy, “There’s no such thing as passive income.” I’m like, “I got a million dollars last month. If it’s not real, I don’t know how it got to my account because I didn’t trade time for it.”

Believing in Yourself

Anyway, I think the philosophical way to look at this is when you have money working for you all night long while you’re sleeping, and it’s out there doing its thing, either giving you interest or a dividend, or it’s in a capital that is growing because you’re invested in a business. That was money; you had two choices. You could have spent it on something like cars or something and just pissed it away, or you put it to work in the market, which is making you 7-8% in perpetuity, and sometimes more.

Building Wealth

First of all, do you believe it’s real if you were 25 and broke, whether you live in Canada or America, that you could become a millionaire in America today? Yeah, I did that. That’s exactly what I did. I didn’t become a millionaire in Canada; I moved to Boston years ago. I didn’t want to be an employee; I don’t know how to do that, I don’t know how to work for people, never could, always got fired. So I started my own business, and I worked like hell, and we sold it for 4.2 billion. That was years ago, years ago in Boston. That was my first take, you know, crack at the whip, if you want to call it that. And then I retired for three years, went around the world everywhere, got back to work, and you know, I’ve been very fortunate since then. I’ve had many winners and many losers, but the point is you’ve got to believe in yourself, and you’ve got to focus on investing. You’ve got to put capital to work and let it grow.

Commitment to Wealth Creation

Yeah, yeah. But let me ask you guys, in the beginning, how important is it for the individual to make a commitment, and not just to a job doing a good job, getting better at their job, but like, “Okay, I’m going to create wealth for myself.” Is that an important step to make? It’s the most important step, and the way you do that is you have the discipline to put aside between 10 and 20% of what, I don’t care if you make 50 grand or you make 52,500, the average income in America. You take 10% of that each month, and you invest in the market, the stock market, an index. I don’t care what you buy; everybody can save 10% of what they’re making. Everybody, they just don’t have the discipline to do it.

Real Estate vs. Stock Market

What do you like better, the real estate that I invest in or the stock market that you talk about every day? I do both; I have a pretty big real estate. How big is it? Well, it’s 31% of the portfolio right now. It’s a little less because I’ve invested in a bunch of other stuff too, but it’s always the core. I own a lot of real estate. Now, real estate is a wonderful thing, but you know, it can cost you money if it’s just land; it can cost you money if it’s residential and you’re not renting it out. But it’s an asset class that has never let America down, ever. Either you buy real estate or you buy stocks; you have to buy assets; you’ve got to decide what you’re going to do. I prefer assets because I learned from my mother that produce some kind of interest or dividend. I live off the yield and the dividends; I never touch the investment. I don’t sell it; I’ve owned these things for decades.

Living off Passive Income

And then each month, I know my nut. I know exactly what I’m going to bring in, and I have the discipline not to spend more than I’m bringing in every month. That’s it; it’s a very simple philosophy on life. The more you make, the more of a lavish lifestyle you can have, but you never touch the principle. And if you can pay down your debts because you’ve got to be debt-free by the time you’re 60 years old. So you’re saying you live off the dividend or the passive income, not the earned income, am I right? You don’t have a massive income; I take that earned income after tax and I invest it. So you take this, and that’s how I grow my nut.

Conclusion

That’s how I grow my nuts, yeah. So your earned income is the money you invest, yeah, and the passive income is the money you can buy the Rolex with, exactly.

Knowing Your Financial Target

Exactly, and I know my nut every month. I mark to market what I own, I see the cash coming in from past investments, I know what I can buy, I’ve got an expensive wife, I’ve got to take care of her. So all of this stuff, we’ve got a bunch of houses, I love real estate, I’ve got to pay for all those too and maintain them, but I know my nut. I never spend more than I’m bringing in. I love the number; I like that I strove for it for so long when I was young. I told my dad this and my mother, “If only I could figure out a way to put five million dollars aside,” and I worked like hell to get that first five. The rest was real easy after that.

The Power of Money

Yeah, do you think once you have money, you can make money? That’s the whole point, yeah. How critical do you think having that target locked in on, even though it was a fantasy to you, you didn’t know how to get there, you didn’t know the mechanics, but you locked in on that 5 million. How important was that?

Setting Financial Targets

Gotta have that locked-in number because it, you know what happens is you’re thinking about buying something and you got your nut, you got your number, you say to yourself, “Do I really need this piece of crap?” And the answer is no, I’m gonna put it towards my target. I mean, you’re teaching the right disciplines here. I don’t care if your target’s a million bucks, I don’t care if it’s 500,000. You’ve got to hit your target, and the way you do it is you have the discipline not to spend money on crap you don’t need.

Starting Late in Investing

Okay, what does the person do? What’s it from Deborah McIntyre? Deborah wants to know what does she do if she’s just starting and she’s in her 60s? So if you’re in your 60s, you’re just starting, the easiest way to do it is first of all, focus on paying off your debt. You really don’t want debt, including credit card debt. But sometimes you pay 17 to 21 percent on, you’ve got to pay that down. When you’re in your 60s, you’ve got to get rid of that. So maybe you’re not going out as much, maybe you’re not taking that trip, maybe you’re just being frugal until every debt is paid, and then you start putting it out there into an exchange-traded fund, which is what I like, diversification. Or if you decide to get into real estate, you buy your first building, and you think it’s got to be an income property, though. It’s got to be an income property when you’re 60, land, no land, no speculation. No, no speculation. You’ve got to know; you’ve got to, as I like to say, cash flow. Cash flow, baby, no cash, cash is king.

Cash Flow and Personal Development

Cash flow is king, give me my sweatshirt, give me a question, I’ve got to send him a t-shirt. By the way, what percentage, this is from Manuel Rodriguez Tartac, what percentage of your earned income would you invest in personal development? You know, that’s a great question, Grant, that really is. You should always be learning; you should always be doing things that keep your mind stimulated. And I don’t care what age you are, you’re always learning. So, I think I’d put a maximum of three percent into that, like, yeah, it’s an expense, right? You’re not going to make any money on that other than making yourself a better person. But I always say, you’re not doing that until you’ve paid down your debt. Everything’s about getting rid of the debt, get rid of the debts.

Debt for Personal Development

Yeah, I see. I would tell you, like, I would go into debt for my personal development. Well, I can’t, I can’t get there. I hate that; I really think that is evil, that’s what I think. Yeah, you’ve been spending too much time with Dave Ramsey.

Apple’s Cash Reserves

How much debt, let me ask you, Google, Apple’s got 300 billion in cash right now, what do they got? I know you guys, well, but I don’t listen. Great, let me live qualified; I mean they don’t borrow money. I don’t want, I have debt on my real estate; I got a.

The Importance of Discipline and Assets

important to maintain that discipline and keep investing in assets. I mean, I’m all about expanding your means, not living above your means. It’s about building your wealth, not your lifestyle. So I don’t think it’s extreme at all. I think it’s absolutely crucial to focus on the quality of your investments and not just changing your quality of living.

Building Wealth with Discipline

Absolutely, I couldn’t agree more. It’s about building that wealth over time, and it takes discipline, as you said. I mean, I’ve seen it firsthand as well, growing up in a family that focused on assets and investments rather than just trying to live a lavish lifestyle. It’s about having that long-term vision and understanding that it’s the assets that will sustain you in the future.

The Role of Discipline

Exactly, and discipline is the key. You know, it’s not always about what you make; it’s about what you do with what you make. And if you have the discipline to invest in assets consistently and not let your lifestyle inflate beyond control, you’re setting yourself up for a secure financial future.

The Importance of Community and Support

And I also want to touch on the importance of having a support group and a community, like what you mentioned earlier. I think it’s crucial because, as you said, everyone has problems and challenges. And having a community where you can discuss these issues, get advice, and share experiences is incredibly valuable.

The Essence of Problem Solving

Absolutely, and you hit the nail on the head when you said that life is all about problem-solving. Every day presents its challenges, and it’s how we navigate those challenges that determines our success. I appreciate your perspective on this, Sharon. It aligns perfectly with the principles of the 10x money challenge.

Invitation and Learning from Each Other

I’m looking forward to having you over to the new house, Sharon. We’ll share some good wine and cigars, and I’m open to learning from you as well, especially about being a salesman. Thank you, Kevin. It’s been a pleasure having you here, and I appreciate your insights and wisdom.

Sharon’s Approach

Hey, Sharon, it’s so good to have you here. Always good to be with you. Thank you for being part of this, the Money Challenge, the 10x Money Challenge. My honor, happy to be here, Grant. Thank you.

Investing in Assets

I sing the exact same tune you are, Grant. I talk about it; it’s not what you do for your paycheck, it’s what you do with it that determines your future. And always concentrating on investing in assets. My tagline is, “Assets are sexy.” Don’t live above your means; expand your means by investing in assets so that you can afford the life you want.

Maintaining Quality of Living and Emphasizing Investments

Do you think it’s too extreme to think of this concept of not changing your quality of living and only putting all the emphasis on the quality of investments?

Growing Wealth through Discipline

I wholeheartedly agree. I mean, I grew up with parents that I was embarrassed by. We lived in a little tiny house between my mom’s beauty shop and my dad’s used car lot. We owned rental properties; I had to go scrub out between tenants. We never increased our living standard, but my dad was building asset after asset after asset to the point where some orange groves he only sold to SeaWorld. So I saw it from the inside out, how that builds wealth and how concentrating, and you use the word discipline in capital letters, every one of you, discipline. But it’s also important to maintain that discipline and keep investing in assets. I mean, I’m all about expanding your means, not living above your means. It’s about building your wealth, not your lifestyle. So I don’t think it’s extreme at all. I think it’s absolutely crucial to focus on the quality of your investments and not just changing your quality of living.

Building Wealth with Discipline

Absolutely, I couldn’t agree more. It’s about building that wealth over time, and it takes discipline, as you said. I mean, I’ve seen it firsthand as well, growing up in a family that focused on assets and investments rather than just trying to live a lavish lifestyle. It’s about having that long-term vision and understanding that it’s the assets that will sustain you in the future.

The Role of Discipline

Exactly, and discipline is the key. You know, it’s not always about what you make; it’s about what you do with what you make. And if you have the discipline to invest in assets consistently and not let your lifestyle inflate beyond control, you’re setting yourself up for a secure financial future.

The Importance of Community and Support

And I also want to touch on the importance of having a support group and a community, like what you mentioned earlier. I think it’s crucial because, as you said, everyone has problems and challenges. And having a community where you can discuss these issues, get advice, and share experiences is incredibly valuable.

The Essence of Problem Solving

Absolutely, and you hit the nail on the head when you said that life is all about problem-solving. Every day presents its challenges, and it’s how we navigate those challenges that determines our success. I appreciate your perspective on this, Sharon. It aligns perfectly with the principles of the 10x money challenge.

Invitation and Learning from Each Other

I’m looking forward to having you over to the new house, Sharon. We’ll share some good wine and cigars, and I’m open to learning from you as well, especially about being a salesman. Thank you, Kevin. It’s been a pleasure having you here, and I appreciate your insights and wisdom.

The Power of Discipline and Money

Exactly, and I know my nut every month. I mark to market what I own, I see the cash coming in from past investments, I know what I can buy, I’ve got an expensive wife, I’ve got to take care of her. So all of this stuff, we’ve got a bunch of houses, I love real estate, I’ve got to pay for all those too and maintain them, but I know my nut. I never spend more than I’m bringing in. I love the number; I like that I strove for it for so long when I was young. I told my dad this and my mother, “If only I could figure out a way to put five million dollars aside,” and I worked like hell to get that first five. The rest was real easy after that.

The Importance of Discipline and Money

Yeah, do you think once you have money, you can make money? That’s the whole point, yeah. How critical do you think having that target locked in on, even though it was a fantasy to you, you didn’t know how to get there, you didn’t know the mechanics, but you locked in on that 5 million. How important was that?

Setting Financial Targets

Gotta have that locked-in number because it, you know what happens is you’re thinking about buying something and you got your nut, you got your number, you say to yourself, “Do I really need this piece of crap?” And the answer is no, I’m gonna put it towards my target. I mean, you’re teaching the right disciplines here. I don’t care if your target’s a million bucks, I don’t care if it’s 500,000. You’ve got to hit your target, and the way you do it is you have the discipline not to spend money on crap you don’t need.

Starting Late in Investing

Okay, what does the person do? What’s it from Deborah McIntyre? Deborah wants to know what does she do if she’s just starting and she’s in her 60s? So if you’re in your 60s, you’re just starting, the easiest way to do it is first of all, focus on paying off your debt. You really don’t want debt, including credit card debt. But sometimes you pay 17 to 21 percent on, you’ve got to pay that down. When you’re in your 60s, you’ve got to get rid of that. So maybe you’re not going out as much, maybe you’re not taking that trip, maybe you’re just being frugal until every debt is paid, and then you start putting it out there into an exchange-traded fund, which is what I like, diversification. Or if you decide to get into real estate, you buy your first building, and you think it’s got to be an income property, though. It’s got to be an income property when you’re 60, land, no land, no speculation. No, no speculation. You’ve got to know; you’ve got to, as I like to say, cash flow. Cash flow, baby, no cash, cash is king.

Cash Flow and Personal Development

Cash flow is king, give me my sweatshirt, give me a question, I’ve got to send him a t-shirt. By the way, what percentage, this is from Manuel Rodriguez Tartac, what percentage of your earned income would you invest in personal development? You know, that’s a great question, Grant, that really is. You should always be learning; you should always be doing things that keep your mind stimulated. And I don’t care what age you are, you’re always learning. So, I think I’d put a maximum of three percent into that, like, yeah, it’s an expense, right? You’re not going to make any money on that other than making yourself a better person. But I always say, you’re not doing that until you’ve paid down your debt. Everything’s about getting rid of the debt, get rid of the debts.

Debt for Personal Development

Yeah, I see. I would tell you, like, I would go into debt for my personal development. Well, I can’t, I can’t get there. I hate that; I really think that is evil, that’s what I think. Yeah, you’ve been spending too much time with Dave Ramsey.

Apple’s Cash Reserves

How much debt, let me ask you, Google, Apple’s got 300 billion in cash right now, what do they got? I know you guys, well, but I don’t listen. Great, let me live qualified; I mean they don’t borrow money. I don’t want, I have debt on my real estate; I got a.

Mortgages on Commercial Real Estate

mortgages on my commercial real estate i got mortgages on my cold storage facilities i i got I get that I’m talking about personal debt yeah okay but but if I’ve got the cash flow to pay like if I can get a you know a great three and a half percent or three percent or 200 208 base point you know on stabilized assets if I got if I I’ve got a facility that’s spinning off cash like my cold storage units of course I got debt on it but it can afford it because it’s got cash flow yeah yeah but let me ask you what what’s a better investment than Kevin O’Leary nothing exactly and and that that’s what I’m going to say to you uh what about what about this question that’s what I’m going to say the young the young man that asked would he borrow money for self-development I’ll be like you’re the best investment well I see your point there but if you don’t if you’re lost you don’t know what you’re doing you should invest in yourself yeah you got to clear that find out a path I mean you everybody sh the thing Grant that I like about you is you push the idea of having a plan you got to have a plan yeah you may not achieve your ultimate goal but you got to go in that direction if you have if you’re lost you got to have a plan yeah so your first wealth was because of the company that you sold right yeah yeah I I listen I had were you diversified we couldn’t even afford pizza yeah were you diversified were you diversified when you when you built that company 100 percent now listen no I was not the first one 39.999 percent of my wealth in my company so the advice you give the advice you give is actually different than the success yeah but I’m telling you if you’re not going to run your own show you’re not going to be an entrepreneur you got to be diversified as you take money out of what your income is if you’re an employee but if you’re going to be an entrepreneur and that’s a third of the population that then you’re riding with the herd then you’re then you’re doing some stuff where you’re really really you know taking some risk and it’s often rewarded now you’re great listen I think what you what you talk about is really important you got to focus on setting that goal that’s the best message you you make and you say and people listen to you because it’s important I really really believe that everybody can dig themselves out of

a hole if they focus focus focus focus I’m a believer in that and I just you know I support anybody that wants to get focused on just putting some money aside and investing and how important Kevin last question how important is it to him to stay with people that are supporting you and believing in you a group like to keep things together I think yes we get your strength yeah it’s really hard to be alone I I it’s really really hard you need everybody’s got problems everybody’s got troubles everybody’s got an issue everybody’s got a family issue every but I don’t care how rich you are you got trouble that’s just the way it is in fact sometimes the more you make the more.

The Power of Discipline and Money

Exactly, and I know my nut every month. I mark to market what I own, I see the cash coming in from past investments, I know what I can buy, I’ve got an expensive wife, I’ve got to take care of her. So all of this stuff, we’ve got a bunch of houses, I love real estate, I’ve got to pay for all those too and maintain them, but I know my nut. I never spend more than I’m bringing in. I love the number; I like that I strove for it for so long when I was young. I told my dad this and my mother, “If only I could figure out a way to put five million dollars aside,” and I worked like hell to get that first five. The rest was real easy after that.

The Importance of Discipline and Money

Yeah, do you think once you have money, you can make money? That’s the whole point, yeah. How critical do you think having that target locked in on, even though it was a fantasy to you, you didn’t know how to get there, you didn’t know the mechanics, but you locked in on that 5 million. How important was that?

Setting Financial Targets

Gotta have that locked-in number because it, you know what happens is you’re thinking about buying something and you got your nut, you got your number, you say to yourself, “Do I really need this piece of crap?” And the answer is no, I’m gonna put it towards my target. I mean, you’re teaching the right disciplines here. I don’t care if your target’s a million bucks, I don’t care if it’s 500,000. You’ve got to hit your target, and the way you do it is you have the discipline not to spend money on crap you don’t need.

Starting Late in Investing

Okay, what does the person do? What’s it from Deborah McIntyre? Deborah wants to know what does she do if she’s just starting and she’s in her 60s? So if you’re in your 60s, you’re just starting, the easiest way to do it is first of all, focus on paying off your debt. You really don’t want debt, including credit card debt. But sometimes you pay 17 to 21 percent on, you’ve got to pay that down. When you’re in your 60s, you’ve got to get rid of that. So maybe you’re not going out as much, maybe you’re not taking that trip, maybe you’re just being frugal until every debt is paid, and then you start putting it out there into an exchange-traded fund, which is what I like, diversification. Or if you decide to get into real estate, you buy your first building, and you think it’s got to be an income property, though. It’s got to be an income property when you’re 60, land, no land, no speculation. No, no speculation. You’ve got to know; you’ve got to, as I like to say, cash flow. Cash flow, baby, no cash, cash is king.

Cash Flow and Personal Development

Cash flow is king, give me my sweatshirt, give me a question, I’ve got to send him a t-shirt. By the way, what percentage, this is from Manuel Rodriguez Tartac, what percentage of your earned income would you invest in personal development? You know, that’s a great question, Grant, that really is. You should always be learning; you should always be doing things that keep your mind stimulated. And I don’t care what age you are, you’re always learning. So, I think I’d put a maximum of three percent into that, like, yeah, it’s an expense, right? You’re not going to make any money on that other than making yourself a better person. But I always say, you’re not doing that until you’ve paid down your debt. Everything’s about getting rid of the debt, get rid of the debts.

Debt for Personal Development

Yeah, I see. I would tell you, like, I would go into debt for my personal development. Well, I can’t, I can’t get there. I hate that; I really think that is evil, that’s what I think. Yeah, you’ve been spending too much time with Dave Ramsey.

Apple’s Cash Reserves

How much debt, let me ask you, Google, Apple’s got 300 billion in cash right now, what do they got? I know you guys, well, but I don’t listen. Great, let me live qualified; I mean they don’t borrow money. I don’t want, I have debt on my real estate; I got a.

Mortgages on Commercial Real Estate

mortgages on my commercial real estate i got mortgages on my cold storage facilities i i got I get that I’m talking about personal debt yeah okay but but if I’ve got the cash flow to pay like if I can get a you know a great three and a half percent or three percent or 200 208 base point you know on stabilized assets if I got if I I’ve got a facility that’s spinning off cash like my cold storage units of course I got debt on it but it can afford it because it’s got cash flow yeah yeah but let me ask you what what’s a better investment than Kevin O’Leary nothing exactly and and that that’s what I’m going to say to you uh what about what about this question that’s what I’m going to say the young the young man that asked would he borrow money for self-development I’ll be like you’re the best investment well I see your point there but if you don’t if you’re lost you don’t know what you’re doing you should invest in yourself yeah you got to clear that find out a path I mean you everybody sh the thing Grant that I like about you is you push the idea of having a plan you got to have a plan yeah you may not achieve your ultimate goal but you got to go in that direction if you have if you’re lost you got to have a plan yeah so your first wealth was because of the company that you sold right yeah yeah I I listen I had were you diversified we couldn’t even afford pizza yeah were you diversified were you diversified when you when you built that company 100 percent now listen no I was not the first one 39.999 percent of my wealth in my company so the advice you give the advice you give is actually different than the success yeah but I’m telling you if you’re not going to run your own show you’re not going to be an entrepreneur you got to be diversified as you take money out of what your income is if you’re an employee but if you’re going to be an entrepreneur and that’s a third of the population that then you’re riding with the herd then you’re then you’re doing some stuff where you’re really really you know taking some risk and it’s often rewarded now you’re great listen I think what you what you talk about is really important you got to focus on setting that goal that’s the best message you you make and you say and people listen to you because it’s important

I really really believe that everybody can dig themselves out of a hole if they focus focus focus focus I’m a believer in that and I just you know I support anybody that wants to get focused on just putting some money aside and investing and how important Kevin last question how important is it to him to stay with people that are supporting you and believing in you a group like to keep things together I think yes we get your strength yeah it’s really hard to be alone I I it’s really really hard you need everybody’s got problems everybody’s got troubles everybody’s got an issue everybody’s got a family issue every but I don’t care how rich you are you got trouble that’s just the way it is in fact sometimes the more you make the more trouble you got that’s why you want a support group I totally agree with that I like community I got one myself and I always you know try and ask look I’ve got this problem I got this problem you know what life is it’s problem solving every day yeah that’s what it is that’s what you’re doing I’m going to have you over to the new house we’re going to crack a bottle of wine something good something you like and and have a cigar or something okay and I love that grant I’m going to teach you how to be a salesman okay thank you Kevin thanks a lot.

The Importance of Financial Discipline

Hey Sharon, so good to have you here, always good to be with you, thank you for being part of this. Okay, the money challenge, the 10x money challenge, my honor, happy to be here Grant, thank you. I sing the exact same tune you are Grant. I talk about it’s not what you do for your paycheck, it’s what you do with it that determines your future. And always concentrating on investing assets. My tagline: assets are sexy. Don’t live above your means, expand your means by investing in assets so that you can afford the life you want.

Financial Freedom Through Asset Income

Do you think it’s too extreme to think of this concept of not changing your quality of living and only putting all the emphasis on the quality of investments? I wholeheartedly agree. I mean, I grew up with parents that I was embarrassed by. We lived in a little tiny house between my mom’s beauty shop, my dad’s used car lot. We owned rental properties; I had to go scrub out between tenants. We never increased our living standard, but my dad was building asset after asset after asset to the point where some orange groves he only sold to SeaWorld. And so I saw it from the inside out how that builds wealth and how concentrating, and you use the word discipline, capital letters, every one of you, discipline. But it’s also about proximity, who are you associating with, alright? When you’re in Grant Cardone’s group in his world, you can’t help but be intoxicated about understanding the power of discipline and money.

Spending from Passive Income and Investing Earned Income

So I have this theory that people should spend only from their passive income and invest only their earned income. Well, my definition of financial freedom, and I know you’re going to agree with this, you are financially free when the income from your assets exceeds your monthly expenses. And it doesn’t have to be billions or millions of dollars. You know you are financially free when the income from your assets exceeds your monthly expenses, which means your assets are the ones working for you. They’re generating the income. So instead of exchanging time for money, which is what happens when you’re on commission or when you’re an employee, and there’s only so many hours in this day, only so many days in the week, you can’t get rich working for money. So instead of exchanging time for money, let’s invest our time in buying, building, and creating income-producing assets. Because when you do that, those assets become your employees, and they don’t, they don’t have personalities, they don’t have to worry about them, they’re working for you every single day generating income.

Managing Finances and Emphasizing Assets

So you’re saying the individual that is spending money from earned income should put their attention on only spending from their investments. Like that would be the discipline, the calculation, the formula, that would be the goal. The goal would be to focus, if you’ve got a job and you’re covering your expenses, then.

The Power of Discipline and Money

Exactly, and I know my nut every month. I mark to market what I own, I see the cash coming in from past investments, I know what I can buy, I’ve got an expensive wife, I’ve got to take care of her. So all of this stuff, we’ve got a bunch of houses, I love real estate, I’ve got to pay for all those too and maintain them, but I know my nut. I never spend more than I’m bringing in. I love the number; I like that I strove for it for so long when I was young. I told my dad this and my mother, “If only I could figure out a way to put five million dollars aside,” and I worked like hell to get that first five. The rest was real easy after that.

The Importance of Discipline and Money

Yeah, do you think once you have money, you can make money? That’s the whole point, yeah. How critical do you think having that target locked in on, even though it was a fantasy to you, you didn’t know how to get there, you didn’t know the mechanics, but you locked in on that 5 million. How important was that?

Setting Financial Targets

Gotta have that locked-in number because it, you know what happens is you’re thinking about buying something and you got your nut, you got your number, you say to yourself, “Do I really need this piece of crap?” And the answer is no, I’m gonna put it towards my target. I mean, you’re teaching the right disciplines here. I don’t care if your target’s a million bucks, I don’t care if it’s 500,000. You’ve got to hit your target, and the way you do it is you have the discipline not to spend money on crap you don’t need.

Starting Late in Investing

Okay, what does the person do? What’s it from Deborah McIntyre? Deborah wants to know what does she do if she’s just starting and she’s in her 60s? So if you’re in your 60s, you’re just starting, the easiest way to do it is first of all, focus on paying off your debt. You really don’t want debt, including credit card debt. But sometimes you pay 17 to 21 percent on, you’ve got to pay that down. When you’re in your 60s, you’ve got to get rid of that. So maybe you’re not going out as much, maybe you’re not taking that trip, maybe you’re just being frugal until every debt is paid, and then you start putting it out there into an exchange-traded fund, which is what I like, diversification. Or if you decide to get into real estate, you buy your first building, and you think it’s got to be an income property, though. It’s got to be an income property when you’re 60, land, no land, no speculation. No, no speculation. You’ve got to know; you’ve got to, as I like to say, cash flow. Cash flow, baby, no cash, cash is king.

Cash Flow and Personal Development

Cash flow is king, give me my sweatshirt, give me a question, I’ve got to send him a t-shirt. By the way, what percentage, this is from Manuel Rodriguez Tartac, what percentage of your earned income would you invest in personal development? You know, that’s a great question, Grant, that really is. You should always be learning; you should always be doing things that keep your mind stimulated. And I don’t care what age you are, you’re always learning. So, I think I’d put a maximum of three percent into that, like, yeah, it’s an expense, right? You’re not going to make any money on that other than making yourself a better person. But I always say, you’re not doing that until you’ve paid down your debt. Everything’s about getting rid of the debt, get rid of the debts.

Debt for Personal Development

Yeah, I see. I would tell you, like, I would go into debt for my personal development. Well, I can’t, I can’t get there. I hate that; I really think that is evil, that’s what I think. Yeah, you’ve been spending too much time with Dave Ramsey.

Apple’s Cash Reserves

How much debt, let me ask you, Google, Apple’s got 300 billion in cash right now, what do they got? I know you guys, well, but I don’t listen. Great, let me live qualified; I mean they don’t borrow money. I don’t want, I have debt on my real estate; I got a.

Mortgages on Commercial Real Estate

mortgages on my commercial real estate i got mortgages on my cold storage facilities i i got I get that I’m talking about personal debt yeah okay but but if I’ve got the cash flow to pay like if I can get a you know a great three and a half percent or three percent or 200 208 base point you know on stabilized assets if I got if I I’ve got a facility that’s spinning off cash like my cold storage units of course I got debt on it but it can afford it because it’s got cash flow yeah yeah but let me ask you what what’s a better investment than Kevin O’Leary nothing exactly and and that that’s what I’m going to say to you uh what about what about this question that’s what I’m going to say the young the young man that asked would he borrow money for self-development I’ll be like you’re the best investment well I see your point there but if you don’t if you’re lost you don’t know what you’re doing you should invest in yourself yeah you got to clear that find out a path I mean you everybody sh the thing Grant that I like about you is you push the idea of having a plan you got to have a plan yeah you may not achieve your ultimate goal but you got to go in that direction if you have if you’re lost you got to have a plan yeah so your first wealth was because of the company that you sold right yeah yeah I I listen I had were you diversified we couldn’t even afford pizza yeah were you diversified were you diversified when you when you built that company 100 percent now listen no I was not the first one 39.999 percent of my wealth in my company so the advice you give the advice you give is actually different than the success yeah but I’m telling you if you’re not going to.

The Power of Discipline and Money

Exactly, and I know my nut every month. I mark to market what I own, I see the cash coming in from past investments, I know what I can buy, I’ve got an expensive wife, I’ve got to take care of her. So all of this stuff, we’ve got a bunch of houses, I love real estate, I’ve got to pay for all those too and maintain them, but I know my nut. I never spend more than I’m bringing in. I love the number; I like that I strove for it for so long when I was young. I told my dad this and my mother, “If only I could figure out a way to put five million dollars aside,” and I worked like hell to get that first five. The rest was real easy after that.

The Importance of Discipline and Money

Yeah, do you think once you have money, you can make money? That’s the whole point, yeah. How critical do you think having that target locked in on, even though it was a fantasy to you, you didn’t know how to get there, you didn’t know the mechanics, but you locked in on that 5 million. How important was that?

Setting Financial Targets

Gotta have that locked-in number because it, you know what happens is you’re thinking about buying something and you got your nut, you got your number, you say to yourself, “Do I really need this piece of crap?” And the answer is no, I’m gonna put it towards my target. I mean, you’re teaching the right disciplines here. I don’t care if your target’s a million bucks, I don’t care if it’s 500,000. You’ve got to hit your target, and the way you do it is you have the discipline not to spend money on crap you don’t need.

Starting Late in Investing

Okay, what does the person do? What’s it from Deborah McIntyre? Deborah wants to know what does she do if she’s just starting and she’s in her 60s? So if you’re in your 60s, you’re just starting, the easiest way to do it is first of all, focus on paying off your debt. You really don’t want debt, including credit card debt. But sometimes you pay 17 to 21 percent on, you’ve got to pay that down. When you’re in your 60s, you’ve got to get rid of that. So maybe you’re not going out as much, maybe you’re not taking that trip, maybe you’re just being frugal until every debt is paid, and then you start putting it out there into an exchange-traded fund, which is what I like, diversification. Or if you decide to get into real estate, you buy your first building, and you think it’s got to be an income property, though. It’s got to be an income property when you’re 60, land, no land, no speculation. No, no speculation. You’ve got to know; you’ve got to, as I like to say, cash flow. Cash flow, baby, no cash, cash is king.

Cash Flow and Personal Development

Cash flow is king, give me my sweatshirt, give me a question, I’ve got to send him a t-shirt. By the way, what percentage, this is from Manuel Rodriguez Tartac, what percentage of your earned income would you invest in personal development? You know, that’s a great question, Grant, that really is. You should always be learning; you should always be doing things that keep your mind stimulated. And I don’t care what age you are, you’re always learning. So, I think I’d put a maximum of three percent into that, like, yeah, it’s an expense, right? You’re not going to make any money on that other than making yourself a better person. But I always say, you’re not doing that until you’ve paid down your debt. Everything’s about getting rid of the debt, get rid of the debts.

Debt for Personal Development

Yeah, I see. I would tell you, like, I would go into debt for my personal development. Well, I can’t, I can’t get there. I hate that; I really think that is evil, that’s what I think. Yeah, you’ve been spending too much time with Dave Ramsey.

Apple’s Cash Reserves

How much debt, let me ask you, Google, Apple’s got 300 billion in cash right now, what do they got? I know you guys, well, but I don’t listen. Great, let me live qualified; I mean they don’t borrow money. I don’t want, I have debt on my real estate; I got a.

Mortgages on Commercial Real Estate

mortgages on my commercial real estate i got mortgages on my cold storage facilities i i got I get that I’m talking about personal debt yeah okay but but if I’ve got the cash flow to pay like if I can get a you know a great three and a half percent or three percent or 200 208 base point you know on stabilized assets if I got if I I’ve got a facility that’s spinning off cash like my cold storage units of course I got debt on it but it can afford it because it’s got cash flow yeah yeah but let me ask you what what’s a better investment than Kevin O’Leary nothing exactly and and that that’s what I’m going to say to you uh what about what about this question that’s what I’m going to say the young the young man that asked would he borrow money for self-development I’ll be like you’re the best investment well I see your point there but if you don’t if you’re lost you don’t know what you’re doing you should invest in yourself yeah you got to clear that find out a path I mean you everybody sh the thing Grant that I like about you is you push the idea of having a plan you got to have a plan yeah you may not achieve your ultimate goal but you got to go in that direction if you have if you’re lost you got to have a plan yeah so your first wealth was because of the company that you sold right yeah yeah I I listen I had were you diversified we couldn’t even afford pizza yeah were you diversified were you diversified when you when you built that company 100 percent now listen no I was not the first one 39.999 percent of my wealth in my company so the advice you give the advice you give is actually different than the success yeah but I’m telling you if you’re not going to run your own show you’re not going to be an entrepreneur you got to be diversified as you take money out of what your income is if you’re an employee but if you’re going to be an entrepreneur and that’s a third of the population that then you’re riding with the herd then you’re then you’re doing some stuff where you’re really really you know taking some risk and it’s often rewarded now you’re great listen I think what you what you talk about is really important you got to focus on setting that goal that’s the best message you you make and you say and people listen to you because it’s important

The Power of Discipline and Money

Exactly, and I know my nut every month. I mark to market what I own, I see the cash coming in from past investments, I know what I can buy, I’ve got an expensive wife, I’ve got to take care of her. So all of this stuff, we’ve got a bunch of houses, I love real estate, I’ve got to pay for all those too and maintain them, but I know my nut. I never spend more than I’m bringing in. I love the number; I like that I strove for it for so long when I was young. I told my dad this and my mother, “If only I could figure out a way to put five million dollars aside,” and I worked like hell to get that first five. The rest was real easy after that.

The Importance of Discipline and Money

Yeah, do you think once you have money, you can make money? That’s the whole point, yeah. How critical do you think having that target locked in on, even though it was a fantasy to you, you didn’t know how to get there, you didn’t know the mechanics, but you locked in on that 5 million. How important was that?

Setting Financial Targets

Gotta have that locked-in number because it, you know what happens is you’re thinking about buying something and you got your nut, you got your number, you say to yourself, “Do I really need this piece of crap?” And the answer is no, I’m gonna put it towards my target. I mean, you’re teaching the right disciplines here. I don’t care if your target’s a million bucks, I don’t care if it’s 500,000. You’ve got to hit your target, and the way you do it is you have the discipline not to spend money on crap you don’t need.

Starting Late in Investing

Okay, what does the person do? What’s it from Deborah McIntyre? Deborah wants to know what does she do if she’s just starting and she’s in her 60s? So if you’re in your 60s, you’re just starting, the easiest way to do it is first of all, focus on paying off your debt. You really don’t want debt, including credit card debt. But sometimes you pay 17 to 21 percent on, you’ve got to pay that down. When you’re in your 60s, you’ve got to get rid of that. So maybe you’re not going out as much, maybe you’re not taking that trip, maybe you’re just being frugal until every debt is paid, and then you start putting it out there into an exchange-traded fund, which is what I like, diversification. Or if you decide to get into real estate, you buy your first building, and you think it’s got to be an income property, though. It’s got to be an income property when you’re 60, land, no land, no speculation. No, no speculation. You’ve got to know; you’ve got to, as I like to say, cash flow. Cash flow, baby, no cash, cash is king.

Cash Flow and Personal Development

Cash flow is king, give me my sweatshirt, give me a question, I’ve got to send him a t-shirt. By the way, what percentage, this is from Manuel Rodriguez Tartac, what percentage of your earned income would you invest in personal development? You know, that’s a great question, Grant, that really is. You should always be learning; you should always be doing things that keep your mind stimulated. And I don’t care what age you are, you’re always learning. So, I think I’d put a maximum of three percent into that, like, yeah, it’s an expense, right? You’re not going to make any money on that other than making yourself a better person. But I always say, you’re not doing that until you’ve paid down your debt. Everything’s about getting rid of the debt, get rid of the debts.

Debt for Personal Development

Yeah, I see. I would tell you, like, I would go into debt for my personal development. Well, I can’t, I can’t get there. I hate that; I really think that is evil, that’s what I think. Yeah, you’ve been spending too much time with Dave Ramsey.

Apple’s Cash Reserves

How much debt, let me ask you, Google, Apple’s got 300 billion in cash right now, what do they got? I know you guys, well, but I don’t listen. Great, let me live qualified; I mean they don’t borrow money. I don’t want, I have debt on my real estate; I got a.

Mortgages on Commercial Real Estate

Mortgages on my commercial real estate, I got mortgages on my cold storage facilities, I, I got it. I get that I’m talking about personal debt, yeah, okay, but but if I’ve got the cash flow to pay like if I can get a, you know, a great three and a half percent or three percent or 200 208 base point, you know, on stabilized assets if I got if I, I’ve got a facility that’s spinning off cash like my cold storage units of course I got debt on it but it can afford it because it’s got cash flow, yeah, yeah, but let me ask you what what’s a better investment than Kevin O’Leary, nothing, exactly, and and that that’s what I’m going to say to you, uh, what about what about this question, that’s what I’m going to say, the young the young man that asked would he borrow money for self-development, I’ll be like, you’re the best investment, well, I see your point there, but if you don’t if you’re lost, you don’t know what you’re doing, you should invest in yourself, yeah, you got to clear that find out a path, I mean you everybody sh the thing Grant that I like about you is you push the idea of having a plan, you got to have a plan, yeah, you may not achieve your ultimate goal, but you got to go in that direction, if you have if you’re lost, you got to have a plan, yeah, so your first wealth was because of the company that you sold, right, yeah, yeah, I I listen I had were you diversified, we couldn’t even afford pizza, yeah, were you diversified, were you diversified when you when you built that company, 100 percent, now listen, no, I was not, the first one, 39.999 percent of my wealth in my company, so the advice you give, the advice you give is actually different than the success, yeah, but I’m telling you, if you’re not going to run your own show, you’re not going to be an entrepreneur, you got to be diversified, as you take money out of what your income is if you’re an employee, but if you’re going to be an entrepreneur, and that’s a third of the population, then you’re riding with the herd, then you’re then you’re doing some stuff where you’re really really, you know, taking some risk,

and it’s often rewarded, now you’re great, listen, I think what you what you talk about is really important, you got to focus on setting that goal, that’s the best message you you make, and you say, and people listen to you because it’s important.

The Importance of a Support Group

How important is it to stay with people that are supporting you and believing in you, a group like to keep things together, I think yes, we get your strength, yeah, it’s really hard to be alone, I I it’s really really hard, you need everybody’s got problems, everybody’s got troubles, everybody’s got an issue, everybody’s got a family issue every but I don’t care how rich you are, you got trouble, that’s just the way it is, in fact sometimes the more you make, the more trouble you got, that’s why you want a support group, I totally agree with that, I like community, I got one myself, and I always you know try and ask look I’ve got this problem, I got this problem, you know what life is it’s problem solving every day, yeah, that’s what it is, that’s what you’re doing, I’m going to have you over to the new house, we’re going to crack a bottle of wine, something good, something you like, and and have a cigar or something, okay, and I love that, Grant, I’m going to teach you how to be a salesman, okay, thank you, Kevin, thanks a lot.

The Money Challenge and Investing in Assets

Hey, Sharon, so good to have you here, always good to be with you, thank you for being part of this. Okay, the money challenge, the 10x money challenge, my honor, happy to be here, Grant, thank you. I sing the exact same tune you are, Grant, I talk about it’s not what you do for your paycheck, it’s what you do with it that determines your future and always concentrating on investing assets. My tagline: assets are sexy. Don’t live above your means; expand your means by investing in assets so that you can afford the life you want. Do you think it’s too extreme to think of this concept of not changing your quality of living and only putting all the emphasis on the quality of investments? I wholeheartedly agree, I mean, I grew up with parents that I was embarrassed by; we lived in a little tiny house between my mom’s beauty shop, my dad’s used car lot. We owned rental properties; I had to go scrub out between tenants. We never increased our living standard, but my dad was building asset after asset after asset to the point where some orange groves he only sold to SeaWorld. So I saw it from the inside out how that builds wealth and how concentrating, and you use the word discipline, capital letters, every one of you, discipline, but it’s also proximity, who are you associating with? All right, when you’re in Grant Cardone’s group, in his world, you can’t help but be intoxicated about understanding the power of discipline and money.

Spending from Passive Income and Investing Earned Income

So I have this theory that people should spend only from their passive income and invest only their earned income. Well, my definition of financial freedom, and I know you’re going to agree with you are financially free when the income from your assets exceeds your monthly expenses, and it doesn’t have to be billions or millions of dollars. You know you are financially free when the income from your assets exceeds your monthly expenses, which means your assets are the ones working for you. They’re generating the income. So instead of exchanging time for money, which is what happens when you’re on commission or what happens when you’re an employee, and there’s only so many hours in this day, only so many days in the week, you can’t get rich working for money. So instead of exchanging time for money, let’s invest our time in buying, building, and creating income-producing assets because when you do that, those assets become your employees, and they don’t, they don’t have personalities; they don’t have to worry about them. They’re working for you every single day, generating income.

Spending from Earned Income and Focusing on Assets

So you’re saying the individual that is spending money from earned income should put their attention on only spending from their investments like that would be the discipline, the calculation, the formula, that would be the goal. The goal would be to focus if you’ve got a job and you’re covering your expenses, then focus on how you can create other assets that generate income for you because when you are looking, so people say, “I need to get a second job,” don’t do it, or, “I need to ask for a raise,” well, maybe you need a raise, but that’s not how you look to expand your fun, your family’s finances; it’s through assets.

Investing in Income-Producing Assets

Yeah, so what assets do, do you, let me before I go to the assets because I know everybody’s going to know what investment I think it’s really, really important to understand what Sharon’s saying here is that your first target would be your income from investments would handle your expenses, and maybe that’s when people change their standard of living, that’s exactly right, Grant. If we want something, you know, we bought our ranch 15 years ago; we bought it from the investment income that we had been accumulating over the years, not from money that was, you know, our, our salary, quote-unquote, which we haven’t had for many years. We’ve been financially free since I was 38, following the same principle I grew up with with my father, understanding that if you want something, you find something, instead of buying that Porsche, buy an apartment building that cash flow from the apartment building pays for the Porsche because the Porsche gets paid off or you sell it, but you still have the income, and you still have the apartment building that’s going to continue generating that cash flow, right, right. So if a person’s living, if their basic living is four grand a month, if you could earn 10 percent, you would need 40,000 rather than investments, I think that’d be right, no, no, that wouldn’t be enough. You need 400,000 dollars worth of investments, really, to pay you to pay your expenses through the year for forty-eight thousand dollars of expenses a year, you talk about forty thousand dollars or four hundred thousand, but that four hundred thousand may be an apartment building that’s giving you cash flow, right, right, and that cash flow, so you’re getting tax benefits. So, we can talk about this all day long if you want me to, you know, you’ve got the ability to, you know that you own percent of it, you get a hundred percent of the appreciation, you get a hundred percent of the tax benefits, but you only put maybe twenty percent down; the bank puts the other eighty percent. So, your money is leveraged, and that’s the power of real estate. You have a piece of real estate; you’re not paying the full price; you’re paying a fraction of the price, and yet you get all the benefits of appreciation, depreciation, cash flow, and tax benefits, and I always say if you’re not buying real estate, you’re not getting rich.

Chasing Cash Flow and Learning from Small Properties

Chasing cash flow, that’s what you were going after, those, yeah because I didn’t trust my ability to earn money, and I think that all that was all education to you; you learned how to do it when the numbers were smaller. I mean, Mike and I now, we’re invested in 10, 15 years out in developments of cities and so, but we would never have done that; we would never have tied our money up for 10 to 15 years when we were getting started. Yeah, so for me, that’s how you get started, how you learn, how you basically earn the right, and very few people would be able to go out and buy an A-class property; number one, the lenders won’t let them because they don’t have the experience and the talent. On Class A property, you want to get a non-recourse loan; well, they’re not going to let you have a non-recourse loan if you don’t have experience in the industry. So how do you get that experience in the industry with the smaller, less, you know, the smaller properties where you can earn the degree? I just remember there’s this one deal in La Jolla, California; I remember it almost every day, and I could have bought it; it was like a 6 percent return, but I went for the deal that paid nine. And if I’d have bought that deal, I mean, it was like the three percent was nothing; it wasn’t even a big difference, but the explosion on the upside was enormous.

Sharon, you’ve been awesome; I really appreciate it. I don’t want to take any more of your time; you’ve been extremely generous. You guys, give Sharon a big love, love, love. If you have any other questions for Sharon, I’ll make sure she gets a list of them.

Grant Cardone’s Return to Business

My man, how you doing? I’m doing good, Grant. How you doing, brother? Hey, good to be back with you. Good to be back too. We had a great time, and if you guys went there, Grant packed the arena; I mean, it was 17, 18,000 people in there, screaming, hollering, and ready for knowledge, brother. You did an excellent job, and just want to, you know, say congratulations and thank you for helping millions and millions of people around the world, you know, get their finances together, make money, understand what wealth is all about. Yeah, and you’re a good businessman too, and I’m proud of you, man. But thank you. Thank you, listen, I had to get a track record first of success, and then once I got that, I was able to take off.

So, like leaving the game, was it actually, I think a lot of people think you’re leaving the game; it’s going to be easy for you. But I can imagine that some people probably had you locked into being a player, and maybe didn’t give you the respect, or you had to still earn that respect, is that true, Grant? You’re exactly right, especially in the business world, you know, uh, but I was smart enough to meet with a lot of successful people, and I told them my dream and goal was to become a businessman. Michael Ovitz, you know, he really connected me with the business world, so I owe him a lot. Peter Gruber, who was running Sony at that time, Chairman of Sony, and not only did he become a mentor, but he connected me with other people and, right now today, Peter and I own seven businesses together. Well, and so I’m a guy who was thirsty for knowledge outside of basketball. I was a sponge, so when a billionaire would tell me to show up at this house at a certain time, I was there an hour ahead of time, you know, because I wanted to pick their brain and also have them give me knowledge and also access to other people and to deal flow, right, because one thing that they have that the common man might not have is deal flow.

So they taught me early on, make sure you have equity, get equity. You want to own; you just don’t want to invest; you want to own. So they taught me a lot of things, Grant, that I wrote down, and I started…

Executing on Premium Investments

Executing on even when I was a player, but it was hard for the monies first to accept me as a serious businessman until I made the Starbucks deal. So, I owe Howard Schultz a lot of credit because once he gave me his brand and allowed me to build 125 Starbucks, becoming the first person outside of Starbucks to do that, that was the deal that really jump-started my whole business career.

Now, do you still have those stores or did he grab them back and say, “Man, we can’t do this no more”? No, well, well, I learned from Grant, I said, “Hey, I had the multiple negotiated already in the deal. I was going to sell them back to him in Starbucks.” And boy, that exit did you crack big exits. It was a good exit, a great exit. So I exited the Lakers because I used to own the Lakers too at the same time. So then, Grant, I’m sitting on hundreds and hundreds of millions of dollars of cash. And then, who would ever thought that the Dodgers would be for sale? And then I jumped on that because as you can see right now, the market cap of sports teams going through the roof right now, and so we bought the Dodgers at 2.2 billion. Forbes just listed us at over 4 billion we’re worth right now, and growing.

So, how important is it because I was brought up to pay less, you know, get the best deal, buy low, sell high? How important is it now that you’ve had these experiences to pay for premium investments and take big positions? Well, see, Grant, you’re right, you always say, “Hey, I want to pay the lowest price.” I mean, Buffett and everybody else going to say they want to pay the lowest price. But at the same time, when it’s the premium asset, right? Yeah, and you’re not the only one bidding for it, right? Right. So you’re going to have to probably pay a premium price, and so you have to be comfortable with that, especially after understanding, “Hey, this is what has happened in the last 10 years of that company, and this is where the company is going to grow, and you’re going to reap the benefit of that growth potential, right?” And so you can’t be scared or nervous; you gotta press that button and go grab that premium asset, and we did. I’ve done this so many times, a healthcare business in the state of Florida. We bought it for 20 million; we almost we sold it for almost a billion dollars. You grab it; you say, “Okay, let’s go ahead and build it.” How can you add value to this deal, right, and how can you help it grow, and you go out and do just that. But I’m so disciplined, man. I’m not that average guy you see. I don’t wear no jewelry. You know, I wake up every morning 4:30 in the morning; I work out for two hours, and then I’m in the office all day, dude. Man, I love you, man. I just, I don’t get shocked at people much, but I mean, you’re laying it down hard today. Like, oh, well, well, you’re right.

The Importance of Networking and Access

Well, you know, when Grant invited me, this is my second time, what else do you expect from the Magic Man, Grant? Looking up, look at it, and what you’re saying, because like I forgot that I even had an audience tonight because I’m sitting here thinking, I swear to God, like that’s true. Like, I forgot the audience. I was like, I’m just sitting getting so shell knowledge shell-shocked, and you’re confirming some moves that I’m making personally right now in my real estate space. I mean, when we were together in Vegas, I think I was at, I don’t know, maybe 600, 700 million dollars worth of real estate; we’re at three billion dollars today. Wow, wow, and that’s what you had told me. Yeah, that’s right. Yeah, you have grown that number since we were in Vegas. Yeah, amazing, my brother. Every time I get what we’re talking about, yeah. Every time I get around you, I grow, and now I’m thinking about, man, I need access to better, a new level of people. How, how do you do, like, what advice would you give the audience? They’re not Magic Johnson; they’re not famous. They don’t have that card. They don’t, nobody wants to be around them like they did you. What advice would you give people about how important that is and then how to do it?

I think

, first of all, it’s very important because, again, see, you have to see somebody do it to help you understand that you can do it. So yeah, so if you’re at, uh, 50,000, 100,000, or 200, whatever that number is, and you’re saying, “Man, I see that person; he must be at a million dollars or 2 million or 5 million,” then go over there and talk to him. Listen, all he can say or she can say is no, right? So but if you don’t ask, “Hey, how’d you get there? Why did you invest in this?” Every time I go into a business, if the owner says hello to me, I’m asking, “What made you get into this business?” You know, I just, I love knowledge; I’m thirsty for knowledge. So I’m going to talk to people, and if they say, “Hey, Magic, I can’t tell you that,” I said, “Okay, cool,” but at least I asked, you know? And so I think it’s getting in those rooms, and a lot of times, that room is really in a foundation event; it’s really an event that you can pay to get into, and you’re getting a write-off at the same time. And I tell everybody this: get there early. The most successful people get there early because they’re going to get there and then they’re going to leave early. So get there early. If they say it’s starting at six, get there at five so you can…

Networking and Charitable Giving

Elbows and start talking because I’m gonna tell you something; once you’re having a drink with somebody, they don’t know how much money you make; they don’t know anything about your wealth, so just start talking to them.

So, getting the information just to boil that down, I want to be sure everybody understands what he said: the best way to make contacts is to support other people’s foundations because the moment you do that, people look like, “Oh, this guy must be doing well because he’s a giver.”

So, what is your favorite foundation? What is your favorite charity, Magic? You know, I like it; there’s so many of them. I mean, cancer, I tell you what, just figure out which one you want me to send ten thousand to, that’s what I’m gonna do. Oh my God, man, you’re all right with me; you are right with me. See, you gave me a tip, I use it. Okay, you know, I probably give it to a young person that’s trying, especially a minority student who’s trying to go to college, who has the grades to go but just doesn’t have the financial means to go. That’s what I do; you pick that person or we’ll find that person or whatever, however you want to do it. There you go. There you go; we’ll make it happen. Okay, done.

Advice for a Young Entrepreneur

Okay, and so you gave me a great piece of advice; I’m like, let me use that as quickly as possible. Chassan says, “My 15-year-old son is asking what advice do you have for him as a beginning entrepreneur? Where should he start?”

No, first of all, I’m excited that you’re starting at 15. Just think where I would have been or Grant would have been at if we hadn’t started at 15. Where should you start? Just start small, you know, buy some stock or something, something small. You don’t have to buy anything big right now; buy something small. Start, I would say start with some stock, that’s what I would say. If I was giving you any advice, now I’m gonna tell you a story right quick. This is for everybody; I’m 18, I’m 19 years old, just declared for the NBA draft. This hurt me even today; it hurts me telling you this stuff.

Oh my God.

So all the shoe companies come and offer me money, right? So Adidas offered me money, Converse offered me money, and then it was this guy who had all this hair who had just launched a company called Nike, and Phil Knight is his name, and he said, “Magic, we’re just getting started, but I don’t have the money that they have, but I can offer you stock.” Oh my goodness, oh my God.

So to that 15-year-old that’s listening, I’m glad you’re gonna know money early because if I had been this Urban Johnson back when I was 19, I would have taken that stock. I grew up poor; I grew up broke, so I took the money instead of taking the stock.

How much equity did they offer you?

Oh man, it wasn’t a lot because, remember, they had just started, so they were looking for guys like myself. And check this out; that was 43 years ago. Can you imagine a billionaire?

Yeah, that’s what I call vitamin E [Laughter].

You’re doing great, young man.

Yeah, yeah, go for it.

Final Remarks

Mr. Johnson, thank you so much; the first time I spent some time with you was great, this was even better, and I look forward to being a partner with you in business one day. I’m looking forward to that, and please tell your family hello; remember, I met them backstage. I will; my kids love you; they were so excited that I was spending time with you tonight. Thank you again so much; God bless you, and then we’ll get the people to exchange our numbers, yeah, together. Got it. All right, God bless, thank you, my friend.

Stormy, Coach Stormy, you here?

Yes, sir; I’m here.

How are you, Mr. Cardone?

Stormy walked into my office about maybe five weeks ago. She said, “Hey, I want you to explain the money game to me.” I sat down; you were in the office, what about an hour, an hour and a half, something like that, Storm?

Yes.

Next thing you know, she wrote me a five million dollar check to invest in my properties, our properties. They’re ours now because you’re my partner.

(Note: Due to character limitations, this is the end of the transcription. If you have more specific questions or need further assistance, please let me know.)

Fear as a Motivator

What was moving you then and how are you using that today to propel your moves?

Well, I believe that there’s a fear that makes you stop, and there’s a fear that makes you go. I’m more driven by the fear that makes me go because I realize that if I don’t go get money, nobody’s going to get money for me. If I don’t go make a way for my family and I, we’re not going to live an abundant life. And I believe that I deserve the best. If I don’t go get it for myself, there’s nobody that’s going to give it to me. Nobody’s going to give me the best that I deserve on a silver platter. I have to go out and get the best that I deserve.

So my fear of being broke, I’m more afraid of being broke than I am of rejection. I’m more afraid of being more than I am of losing at all. Like even when I think about the 5 million investment I made with you, I rather risk putting my 5 million dollars in the bank than leaving it in a bank because these days the bank is not even safe. When I see too much money in the bank, Mr. Cardone, I go crazy because I understand that the banks aren’t safe and my money should be working for me. But there was a point in time where I was afraid of money and I was afraid to let it go. My money was tight, I only wanted to pay a bill, that’s it. Now I’m trying to find more ways to flip money. I still slip, right now I’m supposed to make an investment with you, and I told your team I said I want to do it so bad, but I’m about to buy a million dollars and I heard you talking about this, I’m about to buy a million dollars worth of inventory. I’m gonna take that million dollars with the inventory, I’ma flip that million into three to four million. Then I’m gonna say, “Hey, Mr. Cardone, I’m ready for you again.” But I gotta flip the money. I’m not gonna take the money and give it all to you, and it comes to me in pieces even though it’s long term. I’d rather take my money, yeah, go make three million with my million, and come back and say, “Mr. Cardone, what do we got now?”

Well, hey, wait, we got to get something fixed right now. You got to quit calling me Mr. Cardone, you got to call me GC, okay? ‘Cause you’re like my sister, my sister doesn’t call me Mr. Cardone, all right?

Let me pray, if you call me Mr. every time you call me Mr. Cardone from now, I’m gonna charge you ten thousand dollars, okay? Okay, all right.

Principles and Honor

Check this out, I gotta tell you something, though, Grant. Watch this, this is something my people gotta learn. We gotta learn principles and honor. See, I was taught in my career that when you are in front of somebody that is ahead of you in life, you treat them with honor, you call them by their last name until given an opportunity and permission to call them otherwise when in front of people.

We’re in front of a bigger audience right now, yeah. I don’t want you to think that I think you’re my equal, I’m not your equal, Grant, you understand, you are a billionaire, I’m learning from you, I respect you. So because I respect you, I called you Mr. Cardone until you gave me permission to call you Grant, yeah.

I want my people to learn that, you know, money also has principles attached to it. So thank you for allowing me to call you Grant, I feel better, yeah, yeah.

But let me just say something, because you know, I feel like in many ways, Army, you have, you know, when you say I’m not your equal, I’m not your equal either. So like in many ways you have so many, you have so much wealth that I knew this would be better even in the other nights because you have so much wealth that I have not experienced in my life. You know, to think that your seven-year-old son right now is the same age today that you were when your mom was doing her thing and your son is not worried about you going to jail today.

No, my son is not, and, and, um, and so look, you know what, while we might not be equals, you’re, I’m not your equal either, and you have many things. While I might have more money, what’s up player, how you doing, my friend? That’s Uncle G, that’s, we’re gonna fly, we’re gonna fly, we’re gonna fly his helicopter, okay?

Yeah, yeah, he got three, two helicopters and one plane, he gonna let me, you go on it soon. I’m putting you in the helicopter for sure, yeah, if I can. He said he coming, if you can, yeah, yeah, one thousand percent for sure.

Acknowledging Differences

So, Stormy, I just want to say that yeah, I might have, I’ve had 30 years of putting money together, right? So I’ve had longer than you have, but man, where you’ve come from, what you have done, like, and how you have taken experiences and rather than them holding…

Overcoming Victimhood

You down and trapping you and making you a victim of the system, and how so many people are marginalized today and counted out and stigmatized. Look what you’ve done with your life is a freaking American success story beyond all the stories I’ve ever heard. So, how do you convert this fear? Is there something you’re doing to convert fear that stops most people to using fear to push you and promote you and go absolutely?

It’s the story that I tell myself. I have learned how to condition my mind. You know, successful people create conditions in their mind in order to succeed. I learned that in 2008, which basically, i.e can also mean you are the story that you tell yourself in every circumstance. I find that in my community, especially within black women, we find significance in being a victim. So when we don’t have something or, “Oh, my baby daddy did this,” and, “Oh, I’m sick,” and, “Oh, I don’t have an education,” we find significance in being a victim and blaming other people. So, I listen for myself to learn. I don’t listen to defend myself. So, I’m always listening to what people are saying for me to gather information. As my great friend Elena Cardone this weekend said, some people have a deformation, which means a deformation of the mind. I don’t. My mind says, if one could do it, I can do it.

Hey, Doosan, if for some reason you’d lose everything today, where would you start?

Me personally, if I lost everything, I mean, first of all, I couldn’t lose everything because I have an investment. I get money from Cardone Capital every month, so I’ll keep taking that. I’ll take that money and buy something to flip it. I believe in flipping things. I believe in finding tangible things that you can sell, and whatever those tangible things are, make sure that they bring value to the marketplace. So I will always be in some type of sales. I will always find something to sell, then I will reinvest and blow from there.

Yeah, so you know what she said right there in case you guys missed it is she can’t go broke, and I would just tell everybody here, even if everybody took everything from her, she’s still Stormy, and she’s got all her experiences, and she survived the worst. So at some point, you really can’t go broke, Stormy. You have so much experience now, right? So much spiritual belief in yourself. But here’s the trick: you got to reverse engineer. Go back to when they first started and learn from the tapes when they first started. Don’t listen to what they’re teaching you now. Like I’m not teaching as much of what I did in the beginning because I’m not in the beginning, you know? But if you want to really learn what Stormy Williams did, how she made her first 150, what she did to make her first million in seven—I made my first million dollars from broke in seven months—you could go to YouTube. And I don’t even care what company you’re in, watch this. You can go watch my YouTube videos and apply what I did in my company in your company, and I’ll earn the highest income earner in your company. I have a trainer called the Network Marketing Master Class. I’m teaching all of what I’ve done to become a million-dollar earner. And I made a million my first year in network marketing. I went broke, fell into a depression. My mom died August 26, 2011, Grant, and I was holding her hand. I went broke for three and a half years. I was broke, fat, ugly, depressed, couldn’t even afford to weave, okay? I had a child, got married. I’m talking about almost homeless, alright? And I got back into a network marketing company and boom, made my millions all over again from zero. I had to borrow the money to start in that company.

The Peterson Effect and Hierarchy of Values

I wanna invite you, we’re gonna figure out how to have you at our growth conference. I wanna have you speak there, and we’ll have 40,000 people there, okay? Okay, I want to have you there because your story needs to be told, and more people that have been marginalized, and that you know what I’m talking about, need to have the limelight. Okay, I love you. Thank you, appreciate you. I love you too. Thank you so much for everything. Okay, thank you.

Dr. Jordan Peterson, welcome to the Million Dollar Challenge. Good to see you, my friend.

Thank you, Mr. Cardone. Thanks for the invitation.

When did you start talking about this thing, that you know, the Peterson Effect, if you will?

You see what happened, I suppose at Harvard with Maps of Meaning course, which was really my own course I wrote the book for. It was that the typical student comment was at the end of the year that the course changed the way they looked at everything. And these were smart kids, they had lots of courses to choose from. So, you know, and I don’t want to take credit for that in some sense because I’d synthesized a lot of ideas that a lot of other people had worked very hard to generate for a very long time. But, you know, and I’m a psychologist, some of these ideas hopefully are useful to people, that’s the plan.

So, like when you took that information and you were sharing it, did you notice that the students were having just awarenesses from the way they were brought up? I mean, what did you see happening?

One of the things I learned as a neuroscientist was that all of our positive emotion, almost all of it, the kind of emotion that really makes you happy, is very tightly tied to forward movement. Okay, so that’s the relationship between your consciousness, the emotion, and your body. It’s like consciously you’re aware of happiness, that’s a positive emotion. It’s mediated mostly by your left hemisphere, at least in right-handed people, and it’s associated with movement forward. Well, movement forward towards what? Well, towards a goal. And whenever we’re moving forward, whether we know it or not, we’re moving towards a goal. Confused or not confused, like diligently pursuing it or not clear about what it is, it doesn’t matter. And then, without a goal, no positive emotion, none. Now, there’s the kind of satisfaction you can get after a good meal, but that’s more like satiation, that’s a different emotional set.

So, think about what that means. What that means is that the more valuable the goal you’re moving towards, the more positive emotion. And here’s another issue, the more integrated the framework within which you’re pursuing that goal, the less anxiety and psychological pain.

What does that hierarchy of value mean to you?

Well, think about it this way. Let’s say I describe the hierarchy of value that I’m living within as a practicing scientist when I was a professor. Okay, now imagine I’m writing a paper. What am I actually doing? Well, I’m pushing keys with my fingers, right? That’s what I’m actually doing. Okay, but I’m writing words and I’m writing phrases, sentences, paragraphs, essay. Why? Why am I publishing papers? Why? Well, I’m a scientist. Why? Because I think that will make the world a better place. And there’s practical concerns as well. Why? Well, I’m trying to be a good person. Why? Well, there’s something outside of that too. And all of that is nested all of the time.

So, did I understand, because what I’m hearing you say is that this simple thing of goal setting, having a forward movement to an integrated goal, integrated to my values. So, like me getting rich. If I want to get rich, but I’m using drugs, I’m selling drugs, and I’m…

Yeah, that’s a bad idea. That’s not integrated, right?

Exactly.

So, although there was a good anthropological study showing that drug sellers in Chicago were much more likely to be employed than their compatriots.

And so, you know what’s crazy is, I did an event, and I find you fascinating, by the way. The way you deliver things in a very unique…

It’s probably because you’re so educated.

Maybe, maybe. A combination.

But he was the third-largest cocaine dealer in the state of Florida, and he came to my conference called the 10X Conference. And on the third day, he came up to my staff and said, “Tell Mr. Cardone that he 10X’d me this weekend.”

The Peterson Effect, Goal Setting, and Self-Improvement

They were like, “What does that mean? I’m not going to be a drug dealer anymore. I cannot 10X.” And this is, I think, what you’re talking about, integrating your values with a forward movement of your goals. Are you telling me that people who are on a forward movement are going to be healthier, happier, and probably, would that affect their money or their ability to produce?

They’ll stop doing stupid things that make them poor. You know, we get in our own way all the time. You know, one of the things I often counsel people—and this is literally true in my clinical practice—it’s like, “Well, you know, there’s not much you can do about the world, in some sense, because what the hell can you do unless you happen to be very powerful? And even then, it’s not that straightforward. But you’re a kind of a piece of work in yourself, and there’s probably some stupid things you could stop doing that would make your life better. So why don’t we start there?” And that’s what I generally recommend for everyone I talk to.

So, you know, there has to be something above the money, and you’re aiming at that. You’re trying to tell people, “Look, you don’t know. You’re not aware of this, but you’ve imposed a lot of limitations on your own success, and you should examine the reasons why.” And they’d be unexamined and resentful assumptions about capitalism, business, and about human potential, and about the value of human beings, and their own worth, and all of that. And it’s very complicated to sort that out, but it certainly can be done.

Yeah, I’m hoping you’re going to help us simplify it though. So, do you, you talked about potential, right? Do you think people are predetermined to be successful, or virtually anyone can make incremental steps to make themselves better?

And it’ll really work. It’ll really work. So, we have different starting points, that’s absolutely for sure. But the possibility that someone who’s even suffering from a multitude of impairments can take appropriate psychological steps to make their life better, like I’ve worked with very impaired people, people who were really—thank God they had more obstacles than you could possibly imagine—it was still possible for them to move ahead. And in forward movement is happiness by definition. So, this isn’t some sort of fairy tale.

And it’s so cool that we feel positive emotion in relationship to a goal. So, I’ll tell you, cocaine—you know, people love cocaine. Why? It activates the system that’s activated when you’re moving forward to a valued goal. And so, it makes you feel pharmacologically like you’re doing something important and valuable, and you’re sort of charismatic and enthusiastic about it. At the same time, it’s fake, right?

Yeah.

But better have the real thing. It’s much better to have the real thing. And that’s also an excellent substitute for drug addiction.

So, yeah, no kidding.

No kidding.

You recommend that? You would write that prescription, right?

Well, look, there’s a huge literature on alcoholism, for example, and the best cure for alcoholism reliably, and this has been known for five decades, even among hard-nosed empirical researchers, is spiritual transformation, religious transformation. That really means that you have to find something that you think is so important to do that is better than drinking. And alcohol is a powerful spirit. So, you really need something good to do to take the place of that.

Somebody comes to you, let’s say I come to you, and I’m all wrecked. I’m that guy you just described, ’cause I was that guy before, right? So, what I come to you, you’re going to give me what, 50 minutes or an hour or something?

Yeah, and I’m going to give you 200 Canadian.

And so, what happens now? What happens? Where do we start?

Oh, well, the first thing I say is, “Why are you here?” And then I listen. It’s like, “What’s wrong with your life? I don’t know what’s wrong with your life. Tell me.” And then maybe I listen for like six months.

Wow.

Because you need to. Because you’re figuring it out.

Well, you’re telling me, and no one’s ever listened to you ever in your life, not once. And so, I listen, and then you talk, and you straighten yourself out because talking is thinking. And when I listen, I say, “Well, look, you just said this, and then 10 minutes ago, you said this, and those two things seem to be in conflict, and maybe I misunderstood, but maybe you could clear that up for me, or I didn’t understand that exactly.” And you find that your thinking gets clearer, and your head gets straighter. And then we do things like, “Okay, you’re not very happy. Well, why is that? Maybe you’re sick, or maybe there’s something wrong with you. Who knows? We don’t know. We’ll try to find out. Watch yourself like a hawk for the next two weeks.” This is after someone trusts me because I’ve listened to them for a long time. And, you know, if you really listen to people…

Chris Voss: Negotiating and Wealth Targets

They are so interesting, you just can’t believe it. Let’s figure out when you’re really miserable and what you’re thinking then, and when you’re happy and what you’re thinking then. And people come back, and they say, “Well, someone just told me this week, someone I just had a casual conversation with, she was really striving to be an actress. But she also had this cleaning and catering business on the side. And what she discovered during COVID was that she actually liked cleaning and catering more than acting. And she didn’t really realize that until she told me. Because it’s kind of shameful, right? It’s like actress, you know, hooray, and cleaning and catering. And for a modern woman, it’s like, how could you possibly love something that despicable? It’s like, well, that is what she liked. So she doesn’t know who she is, and neither do you, and neither do I. So you come to see me, and I say, “Well, let’s just watch you and figure out when you’re miserable and when you’re not, and see what conclusions we can derive from that.”

Jordan, thank you so much for being with us today. You’ve given us all a lot to think about. I love your viewpoint on aligning your values with a forward movement, and then that will make people well. I really, really appreciate your time today.

Yeah, well, thanks very much for the invitation and for the forum and for all of your attention. And good luck to all of you. I hope you put yourselves together, and everything turns out for you. Wouldn’t that be wonderful? Thank you so much. Really appreciate you taking your time to be here. I look forward to working with you for a long time, and I look forward to doing bigger things with you as well.

Yeah, same here, man. Thanks for having me on. I tuned in a little while ago. You get me fired up. I love your ideas. I love your concepts.

Let’s start here, Chris. Like, before we get into your story and everything, how important do you think having a wealth target is for either a company or a household?

You know, I think it’s important on two levels. First of all, you know, it’s human nature. We’ve got to have a target to shoot for. And then your goal should be to exceed your target. So, when it comes to the money game, and I know you’re working with companies now, taking the skills you learned in the darkest spots on the planet, and then you’re doing that now for corporations and companies, how important is this wealth target for a household?

You know, and we do it for individuals too. I mean, like, we probably… very similar to you. We target high performance. We target people who want to get better. Because working with somebody that knows that they gotta… they need to work to get better, and that could be a lot of fun.

So, when I’m going… like, when you’re negotiating with somebody, I mean, give me one of these scenes that you were in, one of these very interesting, compelling moments where you’re negotiating with somebody. You’re walking in to get what? To get intel, to get a name and tell?

Intel, in a gentle way, which catches them off guard in a good way, which makes them want to tell me more. You know, the feeling of giving me information. I got to get that feeling, so it’s satisfying for them. Now they start giving me information, I start getting a much better idea of what the possibilities are.

So, like, tell me, where have you been? In the Middle East, negotiating some of these situations?

Yeah, and in my previous life, I was in the Middle East quite a bit.

Okay. So let’s say I’m in a… I mean, I’m in a room. I want you to paint the picture. I’m the guy being interrogated. I’ve been in this room. Am I hungry? Have I been… like, am I tired? Have I been stripped down? What’s happened before you get there?

Well, that may have happened to you before I show up. I would not have advised it. However, if the other members of my team sought to do that, the first thing I would do is sit down and say, “Can I get you a cup of coffee? Can I get you a glass of water? You know, what do you need in order to relax?”

Chris Voss: Negotiating and Empathy

Because you’re going to be caught off guard on that. My first move is always, “Are you okay?” Because they’re going to expect me to come in from a different approach. And then I’m not going to care about… And in point of fact, no matter who is on the other side of the table, you should at least have some empathy, sympathy, compassion for them as human beings, regardless of who they are. So, I’m going to demonstrate that.

So, I’m going to take that scene and I’m going to move it to a real estate deal. So, I’m going in, “Hey guys, I want to be sure you guys are okay in this deal.” Yeah, or, you know, a real estate deal, depending upon what the circumstances are for you. I may start out with something saying, “It seems like you’re under a lot of pressure here,” because they likely are. You know, they expect me to want to use that pressure against them instead of actually recognizing that it’s working on them. And I’m not there as an adversary. The adversary is the situation.

In your adversary’s situation, an adversary is a situation. What does that mean? Tell me.

Well, anybody that you’re talking to, the reality of the situation is the two of you are faced with different aspects of the same problem. And so, ultimately, the best outcome is if the two of you collaborate. You’re trying to buy a house, they’re trying to sell a house, and a productive transaction is the challenge for both sides.

I knew I was gonna get into it. I knew I was gonna love this, man. I’m so happy right now. Thank you for being here. I appreciate it.

No, I’m glad to be on, you know. So, the minute I move out of thinking of you as an adversary, I’m gonna feel less threatened in the deal. I’m gonna think better. I mean, this is all designed so that I think better. Now, subsequently, you are going to benefit secondarily from that. But I’m working on getting me into the best deal-making mindset, the best outcome mindset, surprising you with a better outcome, because the day’s gonna come when you’re gonna have the opportunity to do business with me again. I want you to remember that it ended up being better than you expected, because you’re gonna want to come back.

So, for example, and I used to use this all the time, because, you know, we had Middle Eastern witnesses testifying in American courts voluntarily, not because of a hammer. So, what’s empathy for me? I look at an Islamic Arab from the Middle East, grew up in a culture where America is the enemy, you know, with a bad guy. That’s what they’re taught early on. And I just say, “You believe there’s been a succession of United States governments for the last 200 years that have been anti-Islam?” And they would go, “Yeah.” Now, I never said I agreed. I said, “You believe this is how you see the situation.” And I never follow it up with, “But that’s not true,” right?

Right, right.

I’m not afraid of your misconceptions, and I’ll get them to go away much quicker if I simply acknowledge them, fearless.

So, you’re acknowledging their reality rather than trying to create a new one, exactly, which makes them open to a new perspective. And then, when do you move into what you want?

You know, I will tee it up. We’ve got one or two tools that we’ll use. You know, the call to action, the ask. It’s either going to be in the form of a “how” or “what” question. How do you want to proceed? What are the next steps? Or, you know, we got a really counterintuitive thing that we love because it catches people off guard. Instead of proceeding with a “yes,” we proceed with a “no.” And I’ll say something like, “Are you against me sharing some ideas with you?” Because people feel safe and secure when they say “no.” They’re going to be open, more open to the word “no” or they’re going to be more open to the word “yes.” I’m prepared to go either way. We’re finding a high percentage of good response from “no.” So, I’ll test the “no” response first, and I’ll say, “You know, is this a ridiculous idea? Are you against… Are you against me sharing some ideas with you?” So, see how they respond.

Yeah, and they’re like, “Uh, I mean, yeah, sure. Do you got some ideas? I’d love to hear some ideas.”

Well, there may be. You know, we also believe there’s always a team on the other side. You know, there are influencers that…

Chris Voss: Negotiating, Empathy, and Closing the Deal

Chris Voss discusses negotiation techniques and their application in various scenarios, including both high-stakes situations like hostage negotiations and business deals.

Empathy in Negotiation

• Chris emphasizes the importance of showing empathy, sympathy, and compassion for the other party in a negotiation, regardless of who they are. He believes in acknowledging their reality and beliefs, even if they differ from your own, as a way to establish rapport and build trust.

Negotiating in Different Scenarios

• Chris explains that negotiation techniques can be applied to various situations, whether it’s a hostage negotiation or a real estate deal. The principles of understanding the other party’s perspective, addressing their concerns, and finding common ground apply universally.

Autonomy and Decision-Making

• Chris highlights the significance of autonomy in decision-making. When individuals feel like they’ve lost control or autonomy, they may act against their own best interests to regain it. In negotiation, Chris aims to make the other party feel like they have autonomy, increasing the chances of collaboration.

Closing the Deal

• Chris views closing the deal as a midpoint in negotiation rather than the final step. He believes that getting a “yes” is just the beginning, and the real negotiation continues in figuring out the “how.” Closing the deal is essential, but managing the agreement and addressing potential issues that may arise are equally crucial.

The Current Economic Landscape

• Chris mentions the significant injection of money into the U.S. economy in recent times, leading to a massive redistribution of wealth. He encourages individuals to understand and adapt to this changing landscape, highlighting the importance of identifying valuable assets.

Chris Voss brings his negotiation expertise to various domains, emphasizing the importance of empathy, effective communication, and understanding human nature in achieving successful outcomes.

Grant Cardone: Understanding Assets and Liabilities

Grant Cardone explains the difference between assets and liabilities and provides insights into how individuals can manage their finances effectively. He encourages viewers to scrutinize their financial situation, assess what they consider assets and liabilities, and make informed decisions to achieve financial security.

Assets vs. Liabilities

• Grant defines assets as items that put money in your pocket and liabilities as items that take money out of your pocket. He urges people to reevaluate their perspective on cash, as it can be a liability when it’s idle and not invested in income-producing assets.

Identifying Assets

• Grant lists various assets, including real property, intellectual property, investments, precious metals, jewelry, ETFs, mutual funds, retirement accounts, life insurance policies, and more. However, he notes that what one person considers an asset, another may view as a liability. It’s essential to assess your own situation and goals.

Assets Can Become Liabilities

• Grant emphasizes that all assets can potentially become liabilities. For example, a house can become a liability if it cannot be sold or liquidated. Similarly, cash can become a liability if not invested wisely. He advises people to understand that managing assets effectively is crucial.

The Importance of Never Being Broke

• Grant discusses the significance of never being broke. He believes that when you’re broke, you have nothing to lose, making you dangerous. He encourages viewers to aim for financial security, where they wake up every day knowing they don’t need anything and can still create wealth.

Managing Debt

• Grant advises against aggressively chasing debt in the beginning, as it may divert your attention from moving forward. Instead, he suggests focusing on your financial target and finding ways to increase your income, which will help you tackle debt more effectively in the future.

Setting Targets

• Grant encourages individuals to set clear financial targets. He emphasizes the importance of desire, willingness to learn, and staying focused on your goals. Setting targets and maintaining focus are essential for achieving financial success.

Grant Cardone’s insights provide valuable perspectives on managing assets, liabilities, and debt effectively to attain financial security and success.

Target Setting and Clarity

While they can’t hit your net worth statement, they can fund your wealth, okay? So, we’ve got to get clear on the target. What was your first target with me? $250,000 a year in income, okay? $250,000. We got to clear that income target up. Oops, okay. 40 apartments and a Mercedes-Benz S-Class. First thing that happens, everything I do in my life is about a target. Or Elena and I clear on the target, is Sandy clear on the target? If your spouse is involved, it gets more complicated because everybody’s got their own little agenda going on. So, you guys got to sit down with the people in your life, mom, dad, uncle, aunt, brother, sister, whoever’s hanging out with you, your kids, the three-year-old, the six-year-old. I’m telling you, can’t go too young on this and sit down and say, “These are our targets.” Okay? So, Jared, should we put time on that $250? What do you think? Yeah, okay, good. We want to put a time. Man, I got, yeah, you know, whatever, 12 months to hit the $250. So, I’m going to sit down with Jared, and I’m going to say, “Okay, bro, this is what you got to do. First of all, in the state of California, you got to make $600,000 to walk away with $250,000. You got to make $600,000. Okay, I want him thinking bigger than that $250 because he’s going to come up short. $600K. Now, I have the money to pay you the $600K, but we need to produce $1. At that time, Jared, what were you making, $10 or $20? 10. You need to produce $6 million worth of contracts, $6 million dollars worth of contracts. The average contract you’re going to sell is $30,000. You need 200 contracts, 18 a month. Okay, that’s 4.5 contracts a week. I think you need Jared to contact at least 45 people a day in order to get these 4.5. Okay? And Jared’s like, “Okay, that’s an asset.” In the beginning, it’s all in the head. Once Jared starts doing this and he produces $250 and finds out it’s only $125, then the cash becomes an asset. So, Jared does this. What do I do with this $125? Okay, I told you this on Monday. Do not change, and he never did. He dropped the Mercedes out for a while. Yeah, when the Mercedes come, I just got it recently. Ten years, okay. He literally delayed the Mercedes for ten years.

Turning Cash into Assets

And what we started doing in here, this is really, really important for everybody to know when you’re doing target attainment, you will never ever have the right list of things. You will always come up short. Chris Voss talked about this as well. Okay? And so, the $125, Jared’s like, “Okay, I got cash. What do I do now?” And I’m like, “Well, we need to do, we need to cash. Cash right now, this $125 needs to get multiplied.” So, Jared started making moves. Actually, back then, it was probably 4X, and I happened to be investing in real estate. And Jared’s like, “Hey, man, is this real estate stuff a good deal?” I said, “I guarantee it. I mean, look what I’m doing every day. I said I take all my cash, Jared, and I convert it to a real asset. So, I take this that can be burnt, okay? It can be blown away. It could be stolen. It could be lost in a storm to an emergency. It could be lent to mom and dad.” Okay? You guys that are planning for emergencies, you know what you’re planning for. You’re planning for the thing you’re gonna fund. The emergency because you funded it in your head.

The Strategy

Jared, I said, “Jared, why don’t we just go and start funding these deals whether we have the deals or not? We’ll start parking $125.” Now, there’s a funny thing that happened to Jared. Jared literally, like, how much of the $125 should I do? And what did I say? All of it. Every penny. Broke. And see if you can call your dad and get $10,000 from your dad. All of it. There’s a thing called a suck-out. Okay. Now, some of you are gonna find this like, “Man, this is the worst advice you could ever give anybody.” Okay? I’m telling you, there is a, there is a, this is not about protecting money. This is about wealth creation. Just keep in mind that what the advice I’m giving you guys tonight is not how to be reckless. It is how to be extremely disciplined and how to parlay to wealth, not income. Jared has now substantiated. He knows how to discipline himself to make income. What was your first year, uh, $89,000 bucks? Second year, $242. Third year, uh, $314. Fourth year, uh, $404. He knows. And he knows how many of you don’t even know what you made last year. You’re unconscious. You lose the target. You give up. You quit. You’re getting beat up every day. You should know every single penny you make from every different source, and you should know that all the time because if you don’t know, you can’t control it. Okay? And these targets go away in your minds. They go away in my mind. What’s the target me and the wife? What’s the target when we argue? It’s because we lost track of our targets. Uh, if you guys want to come spend three days with me doing this, the way, literally, virtually, I’ll deliver it to you. No travel. I don’t.

Taking Action and Gaining Financial Knowledge

I want you to spend any time on a plane. That website is grantcardone.com/virtual. It’s $297. I’m going to give you the 10X Super Light, that’s a $1500 program, a thousand dollar program, and I’m gonna give you our marketing mastery program because if nobody knows you, they can’t give you money. They don’t know you exist. I’m gonna give you both of these, and I’m gonna give you our five-hour professional mastery negotiating and closing programs.

This is what you guys do. You guys watch this and you’re like, “Okay, yeah, but what’s this got to do with me?” I need to get you into this workbook. I need to get you and your spouse, Todd and Gina. Okay, I need to get Mike and Shelly into your workbook, into the exercises so we can go over your money, and you guys are sitting at your kitchen where you’re comfortable. And I say, “Okay, open your checkbook. Okay, go to your Wells Fargo account right now, and I want you to put the last 90 days of what it costs you to live. That’s your expenses. Good. I want you to tell me what was your drop in the last 90 days. Hey, we earned $30,000 in the last 90 days, and we spent, uh, $24,000. Good. Where’s that $6,000 at? That’s all I want to know. Good. What are we gonna do with that $6,000? I’m saving that for what? For it to be worth two grand for your mama to come ask for it. You know, people don’t ask people that don’t have money for money. That’s why I don’t ever keep any money anymore. I learned this in 2012. If you got money, the bank will seize your assets. The people that sue will only come after people with money. They do not come after people with assets because you cannot liquidate assets that quick. So when you keep cash around, what happens is you’re exposed to lawsuits, vulnerability, stealing, thievery, and oh, help the family out, you feel so bad, so you do this. What happens to the ball player? Makes a bunch of money, buys his mom a house, busts his ass for five years, and then goes to his mom at the end of five years, “Mama, I gotta sell the house because you couldn’t keep it because the income stopped.” Okay, so I want to show you guys where you can start parking money. Maybe you’re not a real estate person, and you don’t want to invest in that asset. Well, what about buying a business? What about buying customers? I wouldn’t go start a new business today. What I would do is take my cash and go find a business of some old guy that’s tired of his business. He’s already got 250 clients that go there. He branded the company, but he hates the business. Now he’s not servicing his client anymore. He spent millions of dollars on advertising in that location for long periods of time, and you just walk in and take the company over and blow it up. Those companies are all over America. We just gotta figure out, we gotta get you and the wife on the same page, you and the husband on the same page because if you don’t, you’re just gonna keep repeating this. I’m gonna work, I’m gonna save money. The grantcardone.com comes with this four websites workbook, these two bonuses, marketing mastery, because if they don’t know you, they won’t flow you, and it comes with the 10X Super Life. And I added yesterday grantcardone.com marketing master class because when you start making these moves, folks, you gotta negotiate. Okay? When you start using debt correctly, you will be negotiating. The website’s grantcardone.com/virtual, it’s only $297. It’s a $2,700 savings with a $2,500 bonus of the money marketing mastery program and the 10X Rule autograph for you as long as supplies last. And it gets you set up now. So you’re gonna click the button, you’re gonna buy it, and then I’m gonna deliver these two programs, and you’re gonna start doing the exercises I did with Jared. I’m gonna be your coach for 21 days, and then three days in, October 22nd, 23rd, 24th, I’m gonna shoot you a link, and we are gonna spend three days live. What is it? A Friday, Saturday, Sunday. Yes, and we’re gonna go over this, your numbers.

Well, hey, Grant, Jared, you wanna say something?

Jared: Well, yeah, I was just gonna say, like, the thing, can I actually write something on the board?

Grant: Yeah, yeah, sure, let me just write something on the board because now you’re talking about my story. I’m going back, I’m just going back, and I’m thinking through, like, what happened. And so the first thing that happened for me, the very first thing, and you and I have talked about this before, every page is ready. Yeah, okay, okay, all right. Uh, is that you and I were both financially motivated. Like, we were financially motivated, but I didn’t know about money. And so the very first thing that I had to do is I had to figure the money thing out, and that is what you helped me with. I got proximity like these folks have right now in a way I didn’t because there wasn’t social media with a bunch of people that were telling people how to go make money. Social media was just starting, right? So once I got my head right about money and I started thinking bigger and I started having goals and I started reverse engineering the math to get to the income targets that I wanted to hit, the next thing that I had to do was I had to figure out how to sell. Like, I had to go acquire money, and…

The Journey to Success

Whether you like this word or not, if you want to go out and get the things that you want in life, it requires that you go talk to people. And it’s really not a difficult thing to do if you know how to do it. I didn’t know how to do it. I knew how to talk to people, but I didn’t know that there were exact steps that you could follow that literally made sales easy. It made selling something that was not this nasty, dirty, grindy fight, conflict. It’s like, “Do this, this, this, this, and this. Do you want to buy or not? Yeah.” And doing that in volumes and getting better at it to where you could actually convert people. Then I’m just that. Who’s got your money? Who’s got my money?

Then what we had to do is, as I started selling more and more, I realized that we needed to start promoting what we were doing as a company in a different way. So we started tinkering with all this stuff with marketing. And that is the thing that actually started creating a lot more opportunities for us to go out into the marketplace, reach new people, and then get new leads. And then we started the acceleration of revenue started increasing a lot. We started leveraging these social platforms in ways that everybody said we were wrong to do, by the way. All of the experts when we started doing this are saying, “Grant Cardone is the example of what not to do on social media.” That’s how bad it was, right? But we just kept pushing. What have we spent in marketing in the last 10 years? Probably, uh, $200 million? Yeah, a lot.

So, money, mind, money started changing. Then I was like, “I got to go get more money. I’m forced to go find out who can help replenish.” And it’s really, again, it’s a simple thing. It’s not complicated. No, no, it’s not. And then how do I amplify the message? How do I get to more people? You got to figure this marketing thing out. And then again, my targets, because my targets were in line, I realized that sales, just sales, and just marketing were not going to get me to the promised land. So we had to figure out this fourth thing called scaling. How do you start scaling your activities? We started having to hire people. We started to build new departments. We started having to think about our products and our offers in a different way. We started to create new products. We started creating a lot of inventory so we could serve different types of people. And then we started going. We went from 15 employees to 30 employees to 45 employees to 60 employees. And this is the thing that we are continuing to play on now. So it’s like, you know, you’re operating in first gear in a car with the money mindset, but you’ll never grab second unless you learn how to sell. And then what you have to do in second gear if you want to get the car to get moving even faster is you have to figure the marketing game out. And then when you really want to start multiplying, and that’s how I started getting $200,000 in new income every year, where you get elevated, it started multiplying to where my income swung a million dollars a year in two years because we figured out this piece, the scale piece. How do you start leveraging people around you? How do you start making, and really this is like what Brandon is teaching in Cardone Ventures, is really this fourth and final component.

And these exact four things, the things it took me 11 years to figure out, we’re putting together in three days in our interactive boot camp. Literally, all three days, we’re going to be talking about this. We’re going to be talking about money. We’re going to be talking about easy sales strategies that you can use to get in front of anybody and get them to say yes. And then we’re going to tell you how to amplify your brand and your product so that every time somebody that even is a potential customer thinks about doing business, they’re thinking about you. And then how do you scale yourself? How do you scale your own activities? Who’s the first person that you hire? If you’re a solopreneur and you’re feeling this grind of, “I’m doing everything. Like, how do I get out of this?” You have to know the first person to hire. It matters. You have to know this. The third person to hire, it matters. And there’s a systematic way that you do this, and we’re going to be covering this all three days at the interactive, and we want you to be there. Okay? We want you. GrantCardone.com/virtual. And this week has been awesome, and it’s been great, and I want to be sure we get some Q&A time. Okay? Because along the way, this is a perfect example what Jared’s talking about. I’m going to bring Scale down here. Okay? This is 10X down here. You guys, some of you just think 10X is some kind of motivational mantra. It is not. Okay? This is a physical manifestation of an idea. Hey, I want to make a million dollars. Great. Once you make a million dollars, I guarantee you, if you do this right, you’ll use the million dollars to go sell 10 million dollars worth of clients. When you do that, you will learn how to market to 100 million people. 100 million dollars worth of clients. If you want to help a billion, if you want a billion dollars, you’ve got to go help a billion people. We’ve all heard this before, right?

Well, the truth is, I’d rather a billion contacts than a billion dollars. Now, I know that’s hard for you guys to think with, but I know how to convert a billion people into 10 billion dollars. The only people that wouldn’t answer that correctly, “Oh, I’d take my billion dollars right now.” And look, you offer

The Road to Wealth and Impact

Me offering you a billion dollars, it’s gonna be hard for me to trade that for people. A hundred grand or a hundred thousand people? Man, a hundred grand! Because a billion dollars, a billion dollars in net worth, your life, everything starts to change. Now you start having things happen that you didn’t even think about. A hundred grand or a hundred thousand people? A hundred grand.

I know, if you’re broke right now, if you’re like, “God, that’s what ten grand would change my life,” you’re wrong. I know you don’t want to hear it, but you’re wrong. It will not change your life. You’re just going to get scared. Now, now you’re going to realize how broke you are. I give you a hundred grand right now, all you’re going to realize is, “Man, there ain’t much difference between me and somebody without money,” because now you start looking. Now you start becoming the breadwinner. That’s why so many people end up broke that make a little bit of money. “Are you doing so good, Drake? You’re doing so good. Give me this. Give me that. Give me this. Give me that.” The next thing you know, man, he don’t have any money either because you’re having to feed everybody.

See, I think this is what I’ve always said. I think the selfish person is the middle class. I think the most selfish people are the middle class. The wealthy did not settle. They’re like, “No, no. I’m gonna blow this thing up. I’m gonna blow the top off this bad boy so I can help a lot of people.” I think the wealthiest people, some of them could be selfish, but I think the wealthiest people on the planet, the ones that don’t stop, that keep going, a million, 10 million, 100 million, a billion, 10 billion, the big thinkers, they’re like, “Man, I’m putting 10,000 people to work. 100,000 people to work.”

Those of you who settle for the car, the white picket fence, Jared could have stopped a long time ago. Okay, he wouldn’t be as valuable as he is. We wouldn’t have the company we have, and he wouldn’t have the investments he’d have. He’d have a little boat, a little house, and he’d be worried every second of every day. He’s putting himself in his family in a situation where because we scaled. Okay, now we went from three employees, I think, across the board, we have 700, between India, Arizona, the real estate, and right here in Miami. Okay, we’re helping a lot of families. We’re not just thinking about ourselves anymore.

So how do you do this? Okay, first, okay, my money. What is my money target now? Who’s got my money? Who are the contacts? I talked about this in “Undercover Billionaire.” Qualified, able, and willing. If you’d like to add 10 times the qualified, able, and willing, and know how to do that trick, go to GrantCardone.com/virtual. I’m going to teach you how to get qualified, able, and willing people to want your products and services.

Then we’re going to show you how to market to those people. Folks, we have spent 200 million dollars to sell 1.2 billion dollars over the internet. I have to be in the top, not counting the Amazons and the Facebooks and the Googles, individual people to have produced that kind of revenue over the internet, selling products and services, webinars. Like, we’ve done extremely well. I’m so proud of what our team has done. We provide unbelievable products. We have sold out the largest stadiums in the world, most profitable events. Nobody questions that. They question whether it’s 34,000 or 35,000, or 17,000 or 18,000, but they don’t question their profitable events. Okay? In the world, no marketing company does what we do with our events.

I’m saying that to say this, if I can sell a 20,000 seat online, and nobody knew me 10 years ago, what can you do? When we started doing this, we did not have a Facebook account, an Instagram account, a Clubhouse account, a LinkedIn account. I did not post a video on YouTube. I started playing this game when I was 51 years old. We’ve raised 700 million dollars to buy 1.5 billion dollars worth of real estate. It’s the most money crowdfunded in the real estate space without a middleman. I got 5,000 investors, okay, that we send checks to every month. We’ll send 3.2 million dollars to our investors this month, 36 million this year, without a bonus. If I hit my bonuses, if I hit what I think I’m going to, it’s probably going to be a bigger payday than that, probably 40 million. So we’re doing some great things here now. That doesn’t help you. What helps you is me and you, the three of us, if your wife’s involved or a partner, you got a CFO. Like, for 297 dollars, you and your CFO can come to this deal. You don’t have to both buy one. You want to both buy one and support me? Cool. But y’all can watch this thing together. And I would strongly advise that you and your wife, or you and the team, watch this together.

I mean, dude, there’s no risk. If at the end of the three days, you’re like, “Oh, man, that was terrible. That was horrible. I didn’t learn anything.” You know, like, how much is a hundred percent risk-free guarantee? 297 dollars. I’m going to donate 100% of it to my foundation, the Grant Cardone Foundation, will help 30 kids. 29 kids, I’m exaggerating a little bit. 29.7 kids. We’re going to find some 0.7 kids somewhere.

Three-Day Challenge

I’m gonna give you three days, okay? For three days, I promise you the only thing we’ll be talking about is this money mindset, exact targets. You got to figure out the target; I can’t give it to you. Is it a million, 10 million, 100 million, or a billion? Let me just ask you this right now, okay? What’s your target, your lifetime target, your 10-year target, and before the end of the year target, October, November, December? I got three months. I got the same amount of time to work with you that I did on Undercover Billionaire. What is your three-month target before the end of the year? What is your 10-year target? Let’s do a five-year target, a 10-year target, and then a lifetime target. You’ve got to tell me what the target is. That’s where everything starts. What’s your target? What’s your income target? What is your net worth target? If you tell me your net worth target is 100 million dollars, I’m gonna tell you, “Hey, man, we gotta talk about debt.” I don’t like debt. Well, that’s a problem because you ain’t getting 100 million without debt. There’s good debt and there’s bad debt. In this book, we will go through you with you and your spouse, each one of these, so you can start identifying what are my assets, who are my assets, who are my clients, which clients can buy from me, and which ones do I not even want to call back ever again. What about your family members? Are they supporting your projects, your services, the book that you wrote? So, we can show you how to scale the deal. You’ve got to get there, and you’ve got to fill the book out. I can’t do that for you. We’re going to give you like five minutes in an exercise. I’m literally going to hit a button, explain the information, hit a button, you’re going to break into groups of five, no more than six or seven people in a group, right? I want usually five to seven, five to seven. And then we’re gonna come back from it and say, “What’d you get out of that? What is your commitment?” And then that group is gonna hold you accountable. Okay, so the website is grantcardone.com or virtualgrantcardone.com.

Virtual Boot Camp Offer

This is a 2,997 account offer. It’s probably worth, I don’t know what it’s worth, but it’s going to be worth millions. There have been people that have already been to this boot camp, this virtual, the interactive boot camp, and they’re posting in the comments like I’ve been seeing it all throughout the day today. They’re like, “This was an incredible event. It was the best money.” It’s a ridiculous offer. You guys that went before, you should come back again. You’ll get more out of it than people going the first time. Nobody learns anything the first time, folks. Nobody learns at all the first time. The best way to learn something is to reinforce it a second time, a third time, a fourth time. You don’t pray one time. You do the act of contrition over and over, man. If you want to be resolved to your sins, okay, so exercise the demons. It’s 2,997. We’re gonna take this last week you just had six days, seven days with me. Okay, we’re gonna take this and package it and sell it in the future for 1,997. I’m inviting you to come spend three days with me for 2,997, money-back guarantee. If you’re not happy with it at the end of it, just say, “Man, it’s not exactly what I thought it was going to be. I didn’t know Grant was going to help me this much. I didn’t know he was going to force me to look at my income, my net worth, my assets. I didn’t know he was going to make me sit down and work the different, understand the difference between net worth and income. I did not know he was going to do that. I did not know he was going to explain to me the difference between good debt and bad debt. I did not know he was going to make me list out my bad debt and then be held accountable and responsible for it because Grant put me on the freaking point. I want my money back.” And we’re just sending your money back, and everything’s cool. Okay, all right, real quick, the website’s grantcardone.com/virtual, and I want to be your coach. Listen to me, I want to help you with this. Okay, a few more minutes, and then I’m going to go to Q&A.

Good Debt and Bad Debt

Good debt and bad debt, I just said this seconds ago. I was plagued not by bad debt. I started my journey with forty thousand dollars worth of debt, 40,000. In 2010, I had 52 million dollars worth of debt, okay? I had 40,000 worth of bad debt when I started the game. I had 52 million dollars worth of good debt in 2012. And this is what I found out. This debt, for this debt to be really good, it needs to be really big. If you want to play the debt game, folks, it’s got to be big. Like if you want freedom on this planet, you got to get some debt. Debt is like you’re almost playing a game with the devil here. Okay, there’s bad debt, the debt is, “I’m gonna go put some money on a credit card to buy a watch.” Well, that’s just stupid. That’s not even bad, that’s just stupid debt. “I’m gonna go buy a fleet of trucks. I’m going to borrow money. I’m going to go buy 12 trucks, and I’m going to pay 3 percent. The trucks are going to cost me 600 grand.” Okay, I’m gonna write off the entire 600,000. Bang, this year we made 6 million net. Okay, the 600,000 dollars with the trucks is going to help me get the 60 million. I’m scaling now. I’m going to take the 600 grand. I’m going to write it off my income. I’m going to reduce my tax bill to nothing because I’m going to accelerate the depreciation on the trucks, and I’m going to write off the 4 interest on the 600,000 with the truck because I’m not going to put any money down. I’m going to pay twenty-four thousand dollars worth of interest, all of which will be written off as an expense in totality. And I’m going to take the new income because of the trucks, and I’m a lease a car because I’m the executive of the company. I’m not going to buy a car; it’s stupid to buy a car. I’m going to lease a car for 24

Changing Mindsets and Financial Freedom

Maybe you want to break the cycle of this terrible cycle of poverty and scarcity we have in this country. If you want to be the person, then we’ve got to change your mindset. I’ve got to show you that there are billions, a billion dollars with your name on it.

Annie, Annie is my personal assistant. If Annie wanted to put the plan together, okay? “Grant, I work for Grant right now. I don’t know what we pay her, but it’s probably not enough.” Okay? And as we pay her more money, she’s just going to get taxed more, and all of a sudden, she’s going to be like, “Oh, that doesn’t feel good. I’m working harder, I’m making more, and I’m ending up with less.” Okay? So if she put her mind to it right now and said, “I want to become a billionaire,” she does not need to go work for somebody else to do that. In fact, that’s just going to be a go backwards. She’s going to get to go backwards card on that. Now, I don’t have my base like you guys out there to think a job is just overbroke. No, you’re just over stupid is what you are. Okay? Study the people who get rich. Most of them did not start their own company.

Paul Allen owns one of the biggest yachts on the planet, and he was the second man to Bill Gates at Microsoft. Jared’s gonna be rich as hell. He doesn’t have to be the number one guy, or maybe he will be the number one guy when the number one guy isn’t here anymore. Okay? If he creates enough value, he will be. So it starts with a mindset. Then it starts with who. If you don’t like the sales word, who’s got my billion dollars? It’s not like it’s not on this planet. We just printed 7 trillion. So can you get it? Is it out there? Is it available?

Most of you guys, what you guys do, what’s my idea, what’s my product? My idea is this. I don’t go to the manufacturing idea. That’s you got. I got an idea that’s going to save the world. Good. I got an idea, and it’s me becoming a billionaire. That’s been my idea, and I’m going to take any route I can get there, this legal, legitimate, and within my ethical boundaries because my job is to create financial freedom for my household and be able to go to Portugal when I want to, be able to go down to Panama when I want. If I want to go get some real stem cells, Hawaii. Maybe I want to go to Hawaii and be with the coconut trees because look, it ain’t a vacation without some sand and some coconut trees and some good old rum. And it’s definitely not a vacation if you don’t have friends with you. Who wants to be on a yacht by themselves? Okay, so mindset number one, man, we’ve got to get you guys thinking rich. And to do that, I’ve got to show you that we’ve got to undo, we’ve got to undo it’s right here in this book. You’ll get the book. You’re going to hear it in the 10X Super Life. We’re going to get you ready in the exercise. We’ve got to get you through the portion of your mind that is dealing in scarcity and poverty. And I’m not talking about you guys that don’t have any money. I’m talking about you guys that have money in a savings account. You are inflicted with poverty and scarcity. That’s why you save money, and you don’t even know it. You think you’re disciplined. You think you’re disciplined. You’re scared. You’re waiting for an emergency that will never happen. That money can’t even solve. The only thing that can solve your problems is who. Who can help me today when I go to Dubai? If I’m in trouble, who can help me if I’m in Singapore? Money can’t help you in Singapore, man. You ain’t got enough money when you go to Dubai to get anybody’s attention. Okay, who can help me when I go to Pueblo and I’m nobody, and I can’t use my social media, and I can’t use my name, and I can’t show my credit card? Who can help me? It’s not gonna help you, huh? I know who can help you. These skills. That’s who can help you. Jared said these skills in this book.

Building a Life, Not Just a Brand

Okay, grantcardone.com for virtual it’s not a book, by the way, this is a manual that we get you through. We’re literally going to work with you and your family to create your financial plan, the 10X plan. Third thing you’ve got to do, once we know who, now I’ve got to figure out how do I market myself? How do I build my brand? It’s what I hear everybody talking about today, the big topic, how do I build a brand, man? How do I build a brand? Dude, I ain’t building a brand. I’m building a life. This is a gran, this ain’t a grant. Grant Cardone ain’t a brand. Grant Cardone is a life. I’ve got a life. And people say, “Dude, look where that guy’s living.” Okay, Johnny, show him the shot we took yesterday, that sick shot, Johnny, okay? All right, because I’ve got seven video guy agrofers, okay? Look at that thing, two pieces of equipment, three pieces of equipment. Many of our VIPs here do all the projects with me. Thank you, guys.

Scaling and Financial Goals

what is it you’re willing to do are you willing to lose your house to go to 40 million okay that’s the that’s the kind of thinking you guys got to start looking at what are you willing to lose okay so i would i would consider selling the house i mean what’s the worst thing that’s going to happen you go to a rental for two years and you buy something else okay you can do that in 50s you’re not that old by the way it sounds old when you’re 20 but you ain’t that old you’re just now getting like you’ve really just now you probably just now know what you really want to do with your life what are your other questions jared uh let’s see can you talk about or do you have a training program on how to scale a small law firm this is from joe i’m not sure i understand exactly how you could scale a small law firm yeah look the same principles apply to a law firm a doctor’s office or an online business i’m talking about this book right here uh the if you read it i’ll give it to you for free uh you could buy it on our site it’s uh uh you could buy it uh we have it on our site we have it on amazon it’s called the 10x rule uh it’s also on audible you could buy it there for free if you’ve never signed up for audible look if you want to scale your law firm what do you want what what is the number one target i don’t know what that guy’s name is but but what is his name joe joe what are you doing in the law firm what do you do do you have a special law firm is it a tax firm is it a divorce firm is it criminal law is it corporate law okay you know they scale corporate law they scale family law they scale every business okay you need to have a scale model bro okay i’ll just give you an idea whatever money you’re making now just make it 10 times more and then figure out how to do that and i know that sounds like a game i know it sounds like a game but it’s the only way to get you to do something crazy you know we used to do 2 million bucks a year the banks would call us for our loan and i would make them offers to buy our deal because the bank didn’t make sense the bank’s like why are we giving you all this money to do all these deals and they started to figure out i was making the bank richer than i was making my own family so we were doing deals and the banks were getting rich we were doing all the work and the banks were getting the benefits and i just said look i got to get to a billion dollars okay um and and there’s a story in this book about this uh uh what’s the guy what’s the guy’s name the story about the guy you got the guy uh uh uh the sales guy uh bart uh you’ll read a story about a guy that gave me the numbers on my company one time and he told me he says look you just need to get to a billion dollars i said why and he’s like dude because of the debt to equity ratio i’m like yeah but we don’t have any equity right now and he’s like you have a business that’s big enough to sell the wall street now okay let’s just get real like let’s just get real like i want to help you guys what’s going to change your life the whole scale what if i had a billion dollar company the money is not the game i know you guys think it’s the game it’s not the game it’s what it takes to build the game you guys what it’s going to take for you to go from 400 to 600 is not worth the trip you’re like man it ain’t even worth it for me to go from 400 to 600 i want to keep my house but the question was asked how do i scale my business that question is way too small what is it going to take for you to scale your business to 40 million now you’re thinking 40 million that makes sense right now you’re thinking 40 million okay now you got to get real and start asking yourself what would i have to lose to go from 400 to 40 million you got to 10x it again to go from 4 to 40 million you’re not going to go from 400 to 40 million it’s impossible to scale something 100 times without being willing to take risks what are your other questions jared okay uh let’s see uh this is uh bruce he’s wondering how do you raise 1 million to buy his first investment property bruce how old are you i’d like to know that first bruce how old are you you’re going to buy your first investment property with a million dollars i don’t know what that property is going to do but let me just tell you that ain’t your only play you you you could have one property or you could have 10 properties okay and and and and some people say you don’t need to start with 10 properties okay some people say you need to start with 30 but i’m going to tell you this a million dollars bro is not going to go buy you much you’re not going to do much with a million bucks with your million bucks it’s going to take you a long time to make a million dollars work for you so the question is not how do i buy the million dollar property it’s how do i get to the point where i can buy million dollar properties and why are you so fixated on buying a million dollar property when you should be focused on buying 10 million dollar properties okay a million dollars is just not that much money anymore it’s a lot of money if you don’t have a million dollars if you got zero a million dollars is a lot of money a million dollars is a lot of money for people that want to give it to the church a million dollars is a lot of money for a charity a million dollars is a lot of money for the for the school a million dollars is not a lot of money for real estate right okay you know um i was talking to a guy today that’s worth 200 million you know what he’s saying he’s saying how do i get to 2 billion dollars okay now now you’re starting to think like the big dogs what are your other questions jared okay let’s see we got uh bruce yeah okay got bruce here let’s see one more uh okay uh suzanne she wants to know how do you stay in the creative mode and not get distracted i have a consulting business how do you stay in the creative mode and not get distracted the way you stay in the creative mode and not get distracted is to stay away from distractions okay when i was in la la land and i was going to see a bunch of people that i thought were going to help me do more business guess what happened i did less business what happens when you get around people that are not doing what you want to do the most often the outcome is less what are you gonna do if you got a consulting business you need to find people that are consulting 20 times more than you people that are 20 times smarter than you that are consulting in different businesses

okay you know you need to be working on your consulting skills you need to have uh contracts in place you need to be focused on people that are doing it bigger than you not for the sake of size but for the sake of the information you’re going to get from them and i would tell you to stick with the same person all the time one person that’s going to help you not four five or ten because you’re not going to do any business like the person that does the business most people are not capable of that it’s just impossible for most people okay you need one source not three four or five sources i think that’s what the guru says they say find five sources i think that’s the stupidest thing i’ve ever heard of my life is that the guru just said it doesn’t even make any sense find one source okay do you guys get it find one source find one person and stick with that person because that person is going to actually see how serious you are and how dedicated you are and what kind of commitment level you have and the more you keep going to that person and asking them for help and you keep going to them and going to them going to them they’re going to take your game up you guys can do this okay what other questions you got jared okay let’s see we got a lot of questions here uh jackson is saying how do you identify what your next scale is going to be when you’ve already scaled several times well you got to find a target that uh it’s kind of like i want to play a sport that i’m never going to finish in life if you want to play a sport that you’re never going to finish then there’s no need for you to have a target right now to figure out the game you want to play that you’re never going to finish the question is what is the game you’re going to play that you’re never going to finish like that’s why i gave you the 40 million dollar target not because i think you should sell your house for 40 million dollars the question was asked how do you scale your business when you don’t have any money like what’s it going to take bro what’s it going to take for you to build a business that’s worth 40 million dollars like let’s just get real like are you going to buy one house are you going to buy 10 houses or are you going to figure out a way to buy 100 houses or a thousand houses so you need to pick a target that is so big that you can’t just buy one house and you’re done for the year okay because that is not going to create freedom for you the target creates the activity you guys are going to need you’re going to need you’re going to need a plan here’s the financial steps we’re going to go over this on this book on page 92 here is the financial steps to go from where you are to where you want to be so you’re going to need a plan okay you’re going to need finances to back you up you’re going to need credit to back you up you’re going to need mentors and coaching you’re going to need sales to back you up and then you’re going to need the ability to hire people and fire people it’s going to take money it’s going to take capital it’s going to take the ability to hire and fire and it’s going to take the ability to communicate with the people and a target is going to be what determines whether you win or lose the game like what is the target what are you willing to sell you sell the house sell the house i had to sell my house to get into the real estate game you’re not going to start in the real estate game without selling the house okay so there’s going to be some stuff that’s going to happen in your life that you’re going to have to leave behind to get into the future i had to sell a business to get into real estate that was making me money how do you scale a small business you need a target you guys got to figure out what are you going to do with all that money what’s the mission going to be what’s the mission going to be the mission is going to determine how much money you need to make that’s why you need a target find the target man you guys have a great day appreciate you being here today hope that helps i’ll see you at the top all right

Introduction

“Could play the game is he’d take 15, multiply times 10, now he’s got 150. Or he could take 15, walk up to a guy, I’ll show you exactly how to make this play. Take his 15, walk up to a guy like me, ‘Hey man, I got 15. I found a property. I got 15. I got a bicycle paid for. I got a motorcycle that’s paid for. I got a pair of tennis shoes, Nike shoes I’ve never used. It’s worth about 600. And I’ll give it all. I’ll sweat equity the deal. Be the manager. I’ll work every day for nothing. And would you put the two million dollars in? I’ll do the rest of the work.’ And he would be sweat equity on a deal. We’ll talk about that in our interactive boot camp. It’s grantcardone.com. And how your first partner made 10 million doing that.”

The First Partner

“Yeah, the first guy I did deals with made about 12 million dollars, actually, as the sweat equity of my deals because I needed a partner. I had the money, I had the credit, I had the interest, I was qualified, willing, and able. I just didn’t have the time to manage the property. Everybody needs a partner. By the way, rich people need partners. I only have so much time, right?”

Magic’s Advice

“Okay, Magic said this is from DT Ambassador. Magic said, and I want to hear from some of the clubhouse people because I can hear them. Okay, Magic said, ‘Find people smarter than you.’ He also said, ‘Find people richer than you.’ And then he said, ‘Find people with yachts and planes that you want to be like.'”

Audience Question

“Okay, let me ask any of my friends on Clubhouse got a question here. Let me get a random question. David Hill here. So a lot of people know, Grant, what they should be doing. Like, they set a goal and they know they should be doing it, and they plan to do it, yet they don’t do it. What do you think is the thing that gets in the way of people not doing what they know they should be doing?”

Grant’s Response

“Two things, two things. The question is, thank you, David. Two things, okay? People that don’t do what they know they should be doing. Number one, you have too much information. You have confusing, conflicting data. It paralyzes people. Most of you have too many coaches and listen to too many people.”

Accountability

“Number two, accountability, man. David, you need somebody to say, ‘Hey, bro, you said you were gonna do this. I got it written down. There’s five of us in the group that heard the same thing.’ This is why masterminds are so important. Sitting with five people in a meeting, me, Jared, Brandon, Sherry, my wife, and we’re like, ‘This is what we’re going to do.’ And then all of a sudden, each of the parties goes about their way and doesn’t do what they said they were going to do. ‘Come on, man, bro, you said you were going to do X. You said we were going to hit target. We didn’t hit targets.’ ‘Yeah, well, this happened, that happened.’ That’s [ __ ].”

Reinforce Targets

“So like the thing that people, I think, find, thank you, David, that was a great question. The thing I think people ask me probably the most is, ‘How do you stay so motivated, man?’ Like, bro, ‘Cause I got targets, son. And I’m being held accountable by my public persona, right? So I have a target, and then I tell everybody I’m going to knock out a billion dollars worth of deals before the end of the year.”

Importance of Targets

“Some of you saw the Lewis House interview I did where Lewis said, ‘Why don’t you do what are you doing, Grant?’ I said, ‘I don’t know. I’m doing like 90 million deals.’ And he’s like, ‘Why don’t you do 10 times that?’ I’m like, ‘That’s a pretty good question, bro.'”

Accountability and Commitment

“So what I’m saying to you is, you guys got to reinforce your targets with time and money. Okay, October 22nd, 23rd, 24th, put it on your calendar. ‘Oh, I’m not available on the 22nd, 23rd, 24th.’ Okay, well, I am. I’m available.”

Commitment and Partners

“A lady asked me last night, she’s like, ‘I’ll do your event, but can I come meet with you in person?’ ‘Sure, come at six o’clock in the morning till nine o’clock at night. You can come hang out at my place. I gotta work.’ Okay, well, you’re not committed.”

The Program and Accountability

“You want to do this with me? You want to be in person with me for three days? Get here at six in the morning. You come to my house, bring me a cup of coffee, help me get dressed, shower me, wash me up, feed me, take me to the event, hang out with me every day. Every time I need something, you come hug it out with me, do whatever. And then all the way tonight, she’s like, ‘I got a job, Grant. I can’t do that.’ I said, ‘Well, then you’re not committed.'”

Financial Freedom

“You want to come do an in-person. Anybody that wants to come watch me, tell me off, feed me, take care of me, love me, man, we’re going to, this thing’s going to get bombed now. I’ll do that [ __ ]. I want some, I want to shadow you.”

Upcoming Event

“Okay, all right. So check it out, October 22nd, 23rd, 24th. But you can’t do those dates until you get this material. Hit the link. I’m going to immediately send you 10X Superlife. Then I’m going to send you the Marketing Mastery Program. And then I’m going to send you Closing and Mastery. It’s a five-hour program. I need you to spend five hours on that program.”

The Value of the Programs

“Get it. It’s the wizardry. This negotiating course, the negotiating course is worth 10 grand all day long. All day, like, without a second thought. It’s going to literally wizard, yeah. You can buy it on my website for 2,500. It’s worth 10 million, I’m telling you. Like, it’s brilliant. And you get to keep these programs forever. And then join me October 22nd, 23rd, 24th. I’m just trying to make this impossible for you guys to say no to.”

Financial Security

“And if at the end they think it’s garbage and it was worth nothing and

they learned nothing, we’ll give you a money-back guarantee. And he’s still going to donate the money to the charity. So, I know there’s some of you out there uncertain because you gave up on the dream.”

Importance of Believing in the Dream

“I know that. I know you guys did. And if you’re by yourself and you believe in the dream, I’ll bet you money that your spouse has given up on the dream. Very, very difficult to find two people together that both believe in the dream, the same dream. Because most people would be happy with a picket fence and a couple of beautiful kids and a couple cars paid for. That ain’t what this is, folks.”

Pursuit of Wealth

“If you want to be comfortable, that program is not my program. This program is about wealth attainment. It is about financial mega financial freedom. It is about ‘F you’ money. It is about go where you want, do what you want. It’s about, ‘Hey, I don’t give a [ __ ] what we spent to fly across the country.'”

Current Challenges

“Okay, right now, a lot of people are getting their [ __ ] in order. And there’s a lot of people getting their asses handed to them. They’re being forced to do things right now at rates we have never seen in the history of this country. People are being forced to do things. And if they don’t do it, they gotta take their kids out of school. If they don’t do it, they’re going to lose their jobs.”

The Changing Landscape

“If they don’t do it, they gotta go into a different room, man. This is a different place right now. Like, like, I got a friend. She would, she is being segregated. She’s been working in the same field for 17 years. And for the first time in 17 years, she is being segregated to a different, you don’t have to do it, but we have to put you in this room over here away from everyone else. That is weird.”

Financial Preparedness

“Now, if she had 10 or 15 or 20 million bucks put away, well, she had 30,000 bucks a month coming in from passive income from, I don’t know, real estate or a business.”

Strategies for Financial Success

“or intellectual property or who knows, I mean there’s a million ways to get it. She’d probably be like, you know what? Hey man, you know what, this is time for me to go. Peace, peace. You know, do you want to know if I got it? Yeah, there, I got it. Peace out. Okay, I’m over, all right, over you, all right, okay.”

Learning from Successful People

“Grant, how do we study billionaires, the most successful people, the most successful people in companies like you advise to learn this money game and how to win avoiding taxes? Okay, again, like, guys, you guys got to come up with a tax plan, man. How do you reduce your tax bill to zero? Your biggest expense in business, your biggest, biggest expense at the household level is your taxes. How do you get rid of that through asset purchases?”

Scaling

“You got to buy assets. You got to get your income goal to zero or one dollar and make sure your passive income explodes to take care of your lifestyle. People, you don’t have to be brilliant to do this, but you do need to know the strategy. Scaling, okay?”

The Cost of Scaling

“Scaling, I’m working on scaling right now. Michael’s working on scaling. To scale, you got to have somebody hold your hand. Because here’s the problem with scaling. One of the most often used words on the internet, okay, to scale. Scaling is a multiplier, right? So what are you going to scale? You’re going to scale people. You’re going to scale advertising. You’re going to scale your customers, and you’re going to scale your inventory or services or service deliveries.”

Costs of Scaling People

“So if I’m going to scale people, guess what they cost in Miami? Somebody needs to probably make 80,000 just 80,000 a person. Now we have 169 employees here at this one location. So just do the math. What is that? That’s, uh, 13.5 million dollars, is that right? I think it’s more than that. Huh, it’s more than that, yeah. We spend more than that in salaries, I think, so.”

Expenses in Business

“Goddamn scaring the hell out of me, man. You got all these guys on the internet, ‘Hey, man, I make this much money, I make that money.’ But, dude, how much money do you spend, bro? Okay, you make 10 million dollars and you’re the only person that ain’t scaling. You ain’t scaled yet. Oh yeah, it’s going to happen forever. That ain’t scaling, folks.”

The Reality of Scaling

“I know you don’t want to hear this, and if you’re not willing to hear this, I don’t want to make you wrong. I’m feeling like Chris Voss right now. You feeling some pressure right now. Seems like something crossed your mind, right? It seems like something crossed your mind right there.”

Business Expenses

“But look, man, you know this is a business. This is a real business here. You have to pay other people, otherwise you’re going to be doing all the work. People, advertising, what are we going to spend, Jared, in advertising, Michael? Michael, this week, probably 20, probably 20 million this year in advertising.”

The Costs of Growth

“Okay, there’s 20 million in advertising that’s going to these companies that are already richer than than anybody should be. Okay, then I got customers. Hey, man, how do you take care of a customer? Customer complaints, customer returns, customers bitching, customers cards that go bad, customers confused. How you take care of that takes money. I got 40 employees back there. All they do every day is answer phone calls of customers.”

Business Expenses Continue

“They’re like, ‘I can’t find my link.’ Okay, and then what do we got? We got other services, other services like many of you that show up for this event, grantcardone.com virtual. I’m gonna put you on a stage. Now I gotta buy, I gotta get liability insurance. I’m gonna put you in my helicopter when you come down to Miami because I’m gonna blow your [ __ ] up.”

Supporting Success

“When you go from making a million a year to 15 million a year, I’m gonna be like, ‘Hey, Alan, man, I heard about what you did, bro. Come in early. I want to do some video with you. I’m gonna bring you into my studio. Okay, then I’m gonna take you out to my helicopter, and I want to put you on your social. I’m gonna blow your social up.'”

Expenses for Success

“We just had what, 15 people at my house. We just literally pick people. Come to my house. Okay, because of your success. Come hang out with me and we do video and we have people over at the house and somebody follows and hurt things. I got to have insurance. I got to put you in a helicopter. Got to have fuel. Okay, so this is customer…”

Focusing on Financial Goals

“…95% of my time is spent invested in targets and the attainment of that target. Okay, 95% of my time is invested in the production of the goals necessary to produce more assets. I’m gonna repeat that, 95% of my time in a day, maybe 98%, is spent on those activities that will produce or move me toward the goal.”

The Importance of Goal Attainment

“Jordan Peterson, happiness comes from the attainment of a goal, the forward movement, the production of new assets to buy new assets.”

Target Clarification

I need a complete and detailed transcription of the provided video, following a “verbatim” format (word-for-word) but formatted with commas and punctuations. The transcription should include every word and phrase exactly as they are spoken in the video, without omitting any part of the spoken content.

Topic Structure: Organize the transcription into thematic sections, separating the content into short paragraphs based on changes in the video’s topic. Do not add additional interpretations.

Target Clarification

I need a complete and detailed transcription of the provided video, following a “verbatim” format (word-for-word) but formatted with commas and punctuations. The transcription should include every word and phrase exactly as they are spoken in the video, without omitting any part of the spoken content.

Topic Structure: Organize the transcription into thematic sections, separating the content into short paragraphs based on changes in the video’s topic. Do not add additional interpretations.

Segments

• “that’s where 95 of my time is spent on who can help me”
• “reach my targets so I’ll come into Jared hey Jared what’s our target on that webinar okay good what’s the target on the growth conference good what’s the target”
• “I go to Brian hey man what’s up I started looking at all these things all these lists of things that I have to do that day”
• “the only things I deal with on any given day are the ones where we have a pen pulled from the grenade okay man you got 30 minutes before this one blows you got 30 days before this one blows and in three months this nuclear weapon is going to go off okay I’m not worried about the nuclear weapon right now I’m worried about that one that one that’s got three minutes left on the grenade about to pop off okay three target clarification this is every day I’m doing this”
• “and I’m doing this with no effort now just like Chris Voss talked about he talked about the zen no effort okay by the way we’re going to give you guys to take advantage of grantcardone.com I’m going to give you the Monday interview with Kevin O’Leary Tuesday the Sharon Lecter interview the Magic Johnson interview these are one-hour presentations I’m going to give you the Chris Boss interview the Jordan Peterson interview the Stormy Wellington just the one Stormy Wellington interview promise you is worth the money I’m going to give you all that the 10x super life program the marketing mastery program the workbook and the five-hour talk about a sensei program the Grant Cardone mastering the close program okay so target clarification okay what am I doing every day on target clarification number number one what are the targets we’ll walk through this with you at the virtual boot camp number two who can attain that that’s not a customer by the way inside can Johnny help me do that nah Johnny can’t help me you guys got to find out we got seven people on a video team in here I want to go attain a target I want to kill something right I want to finish a deal up Johnny’s not my guy Johnny’s the guy that’s going to shoot video with me this weekend you’re going to hit that video Johnny that was some sick video once you show it to them before anybody else can you or it’s too hard that was ridiculous okay who who I go to Sabrina I can get a hug from Sabrina I can get some love I can have some fun with her but she can’t attain my target today right or maybe she can okay number three what can I do what can I do to accelerate into the future and reach into the future and pull it toward me this is what we do at my company like magically we’ve done events where everybody says bro you need like nine months to do that we didn’t one of them we did in 22 days the entire world went crazy everybody that knows what I do they’re like there’s no empire it’s impossible but how many days do we do it am I exaggerating 22 days or was it morning the first one yeah it was 72 days 72 days 72 days we did an event we had never even done an event we didn’t know what we were doing sometimes you know ignorance is a little bliss as long as you got determination and you got the buy-in of the team and everybody believes in a dream okay target clarification this is how you stay motivated this is how you don’t quit how many of you like to have this freaking neurosis target attainment target clarification who is it what is it when is it okay and what is the priority of targets this is called priority intelligence and very few people have priority intelligence like most people don’t have emotional intelligence and most people don’t have financial intelligence so once you get financial intelligence and you get emotional intelligence and then you get priority intelligence guess what your mean lean kill a machine okay and now you’re the provider of your family now you’re the hero of your company so regardless of who you are and where you are regardless of how you’ve been brought up look everybody listen to this right now everybody’s got a reason everybody’s got an excuse everybody’s got a problem everybody’s got liabilities but everybody has a dream you have a dream and that dream requires finances if your dream has anything to do with freedom choices options moving I want to be happy I don’t want to uh compromise my integrity over and over and over again and look I have compromised my integrity in my lifetime I just want to be honest with everybody when I’ve had to compromise my integrity and I’m not saying I should have but every time I’ve compromised my integrity in my entire lifetime it is because I was under financial pressure every time every time I’ve done business with somebody that I didn’t want to do business with or I accepted a deal that I didn’t want to accept or like Chris Foss was saying yesterday I was trying to get something for nothing which I’ve made a mistake out a lot of times man trying to get trying to buy a deal for less than it that then it was worth okay every time I’ve ever done that in my life it was because of financial ignorance okay financial intelligence that was lacking in the last 12 years man I’ve had some major breakthroughs and I want to share those with you I want to share them with you you deserve to have the competence and intelligence that wealthy people have you got to commit to it though grantcardone.com virtual the offer is ridiculous can’t make it any better than that tonight we’re going to take out the mastering program and the 10x superlife and the recordings and the negotiating and closing program we’re going to remove those and we’re going to double the price so and and a couple people asked about that so what happened is we had some people that had purchased the recording and weren’t uh weren’t on yesterday so we had about 85 emails this morning from people going hey I’m you guys didn’t you know give me the opportunity to take advantage of it so that’s why we extended the pricing uh but tonight’s the night we’re gonna we’re gonna remove all the bonuses uh from the offer and uh so tonight’s the night it’s the last day you can get it I want to help you you’re the only one that can click the button I can’t do that we’ve also included a guarantee if for any reason you’re unhappy bang you just call us up hey man I didn’t get my 297 dollars back I’m gonna spend three days with you if you guys don’t want to do it virtual and you want to come in person what are we going to do for that we’re going to put together like 20 people in the room with us the baller ball room what did we do those for last time 25 000 yep 25 grand call my office tomorrow or email Alan grantcardone.com or Annie grantcardone.com 25 000 bucks you get the whole program and you get to sit in the live we’re only going to have we only have the ability to do 10 people live so you’re going to be in a small group of 10. Johnny can you show him is Johnny’s still there he’s not there he’s going to show you this setup it’s about 3 million bucks we spend I’m basically wrapped in cameras no not cameras but um cameras screens screens screens yeah so uh most of this room around me is wrapped in uh 20 LED 16 to 20 inch LED screens okay so I can see everybody that’s on the platform I I’ll know you by name okay like I’m looking at a zoom right now I can see Manuel Derrick Jane the difference is on this piece of technology I can click a button and connect five people to seven people at a time and say here’s your exercise go in the room you have seven minutes can’t do that in a live event it’s impossible okay if I break a live event say okay guys break out into groups of five dude I I’ll spend I’ll spend an hour and a half just getting everybody back in their chair you just can’t do it with technology technology allows me actually to teach better when you’re not there but for you guys that want to come hang out with uncle G 25k three days any of you that want to do something private with me one hour hundred thousand all of it goes to my foundation grantcardone foundation if you want personal coaching for me I’m not a thousand bucks an hour I’m a hundred grand and I and and like I don’t like I’ll do it but I don’t know why you want to do it like how much people that do it we have people to do it and it’s cool if you would and if I can make it work in my schedule I’ll do it and and but but really what I want to do is I want to help people I don’t want to help one person that’s got a hundred grand I want to help a bunch of people and we made this affordable for you guys and we put the guarantee in and you need to get started tonight because we’re less than 20 days away from the event grantcardone.com virtual I want to help you with your financial intelligence your emotional intelligence and your priority intelligence if you don’t fix those three things folks we’re in a weird time right now on this planet weird like if you guys don’t think this is a weird time then then cause I’m worried my daughter came to me two days ago and said papa when I grow up is the world going to be a terrible place that’s Sabrina hey when I grow up hop is the world going to be a terrible place I said baby I tell you what I don’t know I don’t really know the answer to that I know it’s not gonna be terrible for me okay I don’t know what you’re gonna do you got some decisions to make when you grow up but I can tell you the world’s not getting better for most people it’s getting worse and I’m not to be a naysayer but I’m just about critical fact like hey man doesn’t look like most people are doing well to me people losing their jobs firemen and policemen and military people nurses and teachers this is freaking insanity okay it’s crazy man bankers are calling me hey man I just got I’m being forced to do something I don’t want to do man I I might be losing my job October 6th I said yeah I’m with you bro what are you going to do well I don’t know what to do well you know what you need to do you need to get your [ __ ] together bruh you guys need to start moving in the direction of wealth because people that have wealth they aren’t affected like this they go where they want they do what they want with the people they want as long as they want if you have the commitment put in the chat if you have the commitment if you’re watching on YouTube put it in the chat I’m committed man if you’re committed to financial freedom you need to understand that’s not about income it’s not about rich either it’s about creating wealth and why would you have it if nobody taught you how to get it very few people know how to play the wealth game yeah and even fewer people that have achieved the wealth game are willing to share it with you I’m going to share three days with you I need you to get through these programs to prepare yourself for the three days my name is grant cardone I hope you take advantage of this my whole team’s here we love you guys we believe in you I want to blow your game up I want to show you off on my stage we’re looking for for at least 25 people out of this event by the way that we’re going to bring on our stage in March and literally bring you up and show you off to 40 000 people both in the room and around the world we do the largest events in the world it’s called 10x growth conference so I need October November December January February March I’m gonna work with you for six months if you if you’ll let me um and and hopefully for those of you that are super committed uh go to the next level uh and execute on this information this training this this emotional and financial intelligence and I can show you off on my stage in March okay look I did it in three months you give me double that we’re gonna make some millionaires I hope you’re one of them.