00:00:00:00 - 00:00:01:15
What is the opportunity cost

00:00:01:15 - 00:00:03:19
of going to university
of going to business school?

00:00:03:19 - 00:00:05:01
A lot of the reason that people

00:00:05:01 - 00:00:06:13
give networking a bad name

00:00:06:13 - 00:00:09:08
And my rule is if you don't
bring any money to the table,

00:00:09:08 - 00:00:11:07
then you don't get to talk to me about my money.

00:00:11:07 - 00:00:15:10
We all know that having less
reliance on any one particular thing

00:00:15:10 - 00:00:16:21
is the right way to go

00:00:16:21 - 00:00:18:19
Do you have a history of bouncing cheques

00:00:18:19 - 00:00:20:13
of missing credit card payments?

00:00:20:13 - 00:00:22:21
It's how you perform
when you do have the money.

00:00:22:21 - 00:00:24:17
I would’ve had so much more money,

00:00:24:17 - 00:00:25:21
so much younger

00:00:25:21 - 00:00:28:23
It's your knowledge and it’s your skills
that are going to make your money.

00:00:28:23 - 00:00:31:05
It's not that you need to own a house or own a car.

00:00:31:05 - 00:00:32:19
You actually just need to use it.

00:00:32:19 - 00:00:35:03
then what is the most cost
effective way of doing that?

00:00:35:03 - 00:00:36:06
If you found a business

00:00:36:06 - 00:00:38:08
that you like and that you know something about,

00:00:38:08 - 00:00:39:15
the best way to make money

00:00:39:15 - 00:00:40:21
is to stick with that business,

00:00:40:21 - 00:00:42:07
those status symbols

00:00:42:07 - 00:00:44:03
are very, very good door openers.

00:00:44:03 - 00:00:45:00
something cold,

00:00:45:00 - 00:00:45:23
something early

00:00:45:23 - 00:00:47:19
and something that probably hurts your body.

00:00:47:19 - 00:00:50:04
And they attribute their success in life

00:00:50:04 - 00:00:51:17
to those one, two or three things.

00:00:51:17 - 00:00:53:02
And I think that's a load of bollocks.

00:00:53:02 - 00:00:54:19
If you see my arse on LinkedIn,

00:00:54:19 - 00:00:57:11
you’re gonna remember it
because there aren't many arses on LinkedIn

00:01:02:12 - 00:01:04:07
Should you go to business school?

00:01:04:07 - 00:01:05:24
Now, I often get asked questions like,

00:01:05:24 - 00:01:07:08
Should I go to business school?

00:01:07:08 - 00:01:09:01
Should I go to university?

00:01:09:01 - 00:01:10:05
What is the right path

00:01:10:05 - 00:01:12:01
for me to get the career I want?

00:01:12:01 - 00:01:13:02
To get the life I want?

00:01:13:02 - 00:01:14:09
To get the income I want?

00:01:14:09 - 00:01:15:18
There's no right answer

00:01:15:18 - 00:01:17:21
for any individual situation.

00:01:17:21 - 00:01:19:21
I think the world is
a very different place now.

00:01:19:21 - 00:01:21:01
If you go back, I mean,

00:01:21:01 - 00:01:22:20
20 years ago, when it was time for me

00:01:22:20 - 00:01:25:09
to go to university or for me
to go to business school.

00:01:25:09 - 00:01:28:02
That was very much kind of a time in life

00:01:28:02 - 00:01:31:01
when if you didn't go to university,

00:01:31:01 - 00:01:33:21
if you didn't have some
pretty heavy duty

00:01:33:21 - 00:01:35:08
senior qualifications,

00:01:35:08 - 00:01:37:22
then it would be almost impossible
to be taken seriously.

00:01:37:22 - 00:01:40:04
Almost impossible to get a job

00:01:40:04 - 00:01:41:13
in any kind of mainstream

00:01:41:13 - 00:01:42:22
corporate type company.

00:01:42:22 - 00:01:44:04
Now, obviously that doesn't matter

00:01:44:04 - 00:01:45:06
if you're setting up in business

00:01:45:06 - 00:01:46:13
for yourself, but often

00:01:46:13 - 00:01:49:07
even people who set up eventually
in business for themselves,

00:01:49:07 - 00:01:50:22
they have a career path that involves

00:01:50:22 - 00:01:53:04
working in corporations,
working for other people,

00:01:53:04 - 00:01:54:13
working their way up the ladder while

00:01:54:13 - 00:01:56:07
they get the knowledge, the skillsets

00:01:56:07 - 00:01:57:08
the contacts they need,

00:01:57:08 - 00:01:59:05
and then break off and go
and do it themselves.

00:01:59:05 - 00:02:00:24
But whatever it is you want to do,

00:02:00:24 - 00:02:02:06
you need to ask yourself,

00:02:02:06 - 00:02:03:13
what is the right route

00:02:03:13 - 00:02:06:00
and what is the quick
- quickest route for you?

00:02:06:00 - 00:02:07:23
Because what you
really need to consider is

00:02:07:23 - 00:02:09:24
A, what is the opportunity cost

00:02:09:24 - 00:02:12:10
of going to university,
of going to business school?

00:02:12:10 - 00:02:14:16
And B, can I get those skills?

00:02:14:16 - 00:02:16:14
Can I get the traits that I need

00:02:16:14 - 00:02:19:07
in some other cheaper, quicker way?

00:02:19:07 - 00:02:21:19
Now, the cost of going to
university in today's world

00:02:21:19 - 00:02:23:04
is probably something like 100

00:02:23:04 - 00:02:24:13
plus grand exercise.

00:02:24:13 - 00:02:27:03
By the time you look at three
or four years of education,

00:02:27:03 - 00:02:29:16
the course, the accommodation,

00:02:29:16 - 00:02:31:12
the living expenses, etc.

00:02:31:12 - 00:02:32:08
whilst you’re there.

00:02:32:08 - 00:02:33:18
So what you need to be asking yourself

00:02:33:18 - 00:02:35:05
is can you achieve

00:02:35:05 - 00:02:36:12
what you want to achieve

00:02:36:12 - 00:02:38:22
in a shorter timescale for less money?

00:02:38:22 - 00:02:40:22
Because having that qualification

00:02:40:22 - 00:02:42:09
of saying I've been to university,

00:02:42:09 - 00:02:45:00
I've been to business school..
will not help you walk through

00:02:45:00 - 00:02:46:11
many more doors than you

00:02:46:11 - 00:02:47:20
would be able to walk through

00:02:47:20 - 00:02:49:22
if you’d learnt the skills
in a different way.

00:02:49:22 - 00:02:52:07
Taking it to its extreme,
in today's world,

00:02:52:07 - 00:02:53:16
the amount of information

00:02:53:16 - 00:02:55:14
that is freely available out there.

00:02:55:14 - 00:02:57:00
I mean, I would actually argue

00:02:57:00 - 00:02:58:15
that every piece of information

00:02:58:15 - 00:03:00:02
you could ever possibly need

00:03:00:02 - 00:03:01:20
for pretty much any subject

00:03:01:20 - 00:03:03:14
is already out there for free.

00:03:03:14 - 00:03:05:13
Whether you're taking it from online

00:03:05:13 - 00:03:06:24
courses, from YouTube,

00:03:06:24 - 00:03:09:18
from Instagram, from mentors,
from whatever it may be,

00:03:09:18 - 00:03:11:18
you can find all that
information for nothing!

00:03:11:18 - 00:03:13:07
What you're really paying for

00:03:13:07 - 00:03:14:12
when you pay for a course,

00:03:14:12 - 00:03:16:18
or you pay for a university is really -

00:03:16:18 - 00:03:17:17
structure

00:03:17:17 - 00:03:18:21
accountability

00:03:18:21 - 00:03:20:05
and a badge at the end of it.

00:03:20:05 - 00:03:21:11
I never went to university,

00:03:21:11 - 00:03:22:16
I never went to business school.

00:03:22:16 - 00:03:24:02
That’s a.. that’s a slight lie.

00:03:24:02 - 00:03:25:20
I went to university for six weeks

00:03:25:20 - 00:03:28:10
and realized that whilst
I was trying to work at the same time,

00:03:28:10 - 00:03:29:22
I wouldn't be able to hold down

00:03:29:22 - 00:03:31:12
a course and hold down a job.

00:03:31:12 - 00:03:33:06
So I left because I felt

00:03:33:06 - 00:03:35:23
that I was going to
be able to learn more

00:03:35:23 - 00:03:39:01
and get more real world experience
working in a business.

00:03:39:01 - 00:03:40:22
So these are the things that
you guys need to consider.

00:03:40:22 - 00:03:42:10
I was obsessed with business

00:03:42:10 - 00:03:44:09
from probably 10, 11, 12 years old.

00:03:44:09 - 00:03:46:02
I had a dad who was a businessman,

00:03:46:02 - 00:03:47:12
so I used to listen to

00:03:47:12 - 00:03:49:15
and absorb information
from him all the time.

00:03:49:15 - 00:03:50:20
I used to pick his brains.

00:03:50:20 - 00:03:52:05
I used to read every business

00:03:52:05 - 00:03:54:22
book, every business periodical
I could get my hands on.

00:03:54:22 - 00:03:56:06
Whilst these may not be thought

00:03:56:06 - 00:03:57:14
of as formal pieces of

00:03:57:14 - 00:03:59:06
education, these are all methods

00:03:59:06 - 00:04:00:19
of getting the skillsets

00:04:00:19 - 00:04:01:22
that you need to learn.

00:04:01:22 - 00:04:03:14
So for me, if you want to be

00:04:03:14 - 00:04:04:24
getting set up in business,

00:04:04:24 - 00:04:06:21
then I would actually say it's

00:04:06:21 - 00:04:09:13
far more important
to be learning the skills

00:04:09:13 - 00:04:11:02
like sales, like marketing,

00:04:11:02 - 00:04:14:05
like networking,
like accountancy, human resources

00:04:14:05 - 00:04:15:14
and people skills, getting

00:04:15:14 - 00:04:17:08
a good grounding
in all of these

00:04:17:08 - 00:04:20:16
in a real world environment
rather than sticking your head

00:04:20:16 - 00:04:21:21
in coursework

00:04:21:21 - 00:04:23:04
and books for three or four years.

00:04:23:04 - 00:04:25:14
Because the reality is once
you come out of business school,

00:04:25:14 - 00:04:26:24
you're still not ready

00:04:26:24 - 00:04:28:12
for business in the real world.

00:04:28:12 - 00:04:29:19
For me, you would still be almost

00:04:29:19 - 00:04:31:14
starting at day one,

00:04:31:14 - 00:04:33:11
cutting your teeth with the problems.

00:04:33:11 - 00:04:34:18
Now I really find that the things

00:04:34:18 - 00:04:36:05
that I've learned in business

00:04:36:05 - 00:04:37:05
have come

00:04:37:05 - 00:04:39:09
from that on the
job training, of doing,

00:04:39:09 - 00:04:40:22
of failing, of tweaking,

00:04:40:22 - 00:04:42:11
of doing again, and they’re

00:04:42:11 - 00:04:44:10
the things that you can
never learn in business school.

00:04:44:10 - 00:04:46:18
Obviously, what people
could learn in business school

00:04:46:18 - 00:04:47:16
would be the
things that, you know,

00:04:47:16 - 00:04:49:02
I would have learned from books,

00:04:49:02 - 00:04:50:08
I would have learned from videos,

00:04:50:08 - 00:04:52:02
I would have learned
from listening to other people.

00:04:52:02 - 00:04:53:22
But that's how I got my knowledge.

00:04:53:22 - 00:04:56:00
And then putting that into action

00:04:56:00 - 00:04:57:08
is a whole new world, I guess.

00:04:57:08 - 00:04:58:16
You know, an analogy for me

00:04:58:16 - 00:05:00:08
would be with boxing, for example.

00:05:00:08 - 00:05:01:23
You can do fitness all day.

00:05:01:23 - 00:05:03:24
You can do weeks and weeks of pads

00:05:03:24 - 00:05:05:13
and exercises like that.

00:05:05:13 - 00:05:07:20
But until you actually get in a ring,

00:05:07:20 - 00:05:09:02
in a sparring situation,

00:05:09:02 - 00:05:11:01
until somebody punches you
in the face or punches

00:05:11:01 - 00:05:13:04
you in the stomach, doesn’t matter
how many pads you've done.

00:05:13:04 - 00:05:15:08
It doesn't matter how much
fitness training you've done.

00:05:15:08 - 00:05:17:18
There's nothing like
being in that situation.

00:05:17:18 - 00:05:19:04
So for me, if you really want

00:05:19:04 - 00:05:20:24
to accelerate your kind of business

00:05:20:24 - 00:05:22:13
knowledge, your career in business,

00:05:22:13 - 00:05:23:19
you need to get out there

00:05:23:19 - 00:05:26:15
and be doing things
as soon as humanly possible.

00:05:26:15 - 00:05:27:24
So if you are at university

00:05:27:24 - 00:05:29:16
and you do decide to
go down the route

00:05:29:16 - 00:05:31:00
of going to a business school,

00:05:31:00 - 00:05:32:20
can you be doing an apprenticeship?

00:05:32:20 - 00:05:34:09
Can you be doing a part time job?

00:05:34:09 - 00:05:36:19
Can you be working alongside
people at the same time?

00:05:36:19 - 00:05:38:05
Because you know, the real learnings

00:05:38:05 - 00:05:39:15
you're going to get are going to be

00:05:39:15 - 00:05:42:11
from being in those real
world business situations.

00:05:42:11 - 00:05:43:22
But like most things that I talk to

00:05:43:22 - 00:05:46:07
you guys about the
right answer for me,

00:05:46:07 - 00:05:47:09
is not the right answer for you,

00:05:47:09 - 00:05:48:20
is not the right answer
for somebody else.

00:05:48:20 - 00:05:50:16
There is almost no right answer.

00:05:50:16 - 00:05:51:23
It's what is the right answer

00:05:51:23 - 00:05:53:09
for you and for your situation.

00:05:53:09 - 00:05:54:24
But I just think it's very important now

00:05:54:24 - 00:05:57:03
to consider all the
other options out there.

00:05:57:03 - 00:05:59:21
For anyone listening to this
who is not particularly interested

00:05:59:21 - 00:06:01:06
to have a career in business

00:06:01:06 - 00:06:02:21
but knows the rough direction

00:06:02:21 - 00:06:04:13
they want to go in but doesn't know

00:06:04:13 - 00:06:06:08
if they should be going
to university or not.

00:06:06:08 - 00:06:07:23
Most of what I've
just talked about in here

00:06:07:23 - 00:06:09:06
applies to you as well.

00:06:09:06 - 00:06:10:17
There's so many different routes

00:06:10:17 - 00:06:12:08
to get to your destination now.

00:06:12:08 - 00:06:14:20
University, College, Online Learning,

00:06:14:20 - 00:06:16:07
Apprenticeships, learning

00:06:16:07 - 00:06:18:01
by doing and making mistakes.

00:06:18:01 - 00:06:19:10
There's no one right answer

00:06:19:10 - 00:06:20:15
and what you need to do

00:06:20:15 - 00:06:23:04
is find the quickest, cheapest,

00:06:23:04 - 00:06:24:03
most effective route

00:06:24:03 - 00:06:24:18
for yourself.

00:06:27:07 - 00:06:29:04
How do I improve at networking?

00:06:29:05 - 00:06:30:01
Great question.

00:06:30:01 - 00:06:32:15
And I love questions that are
anything to do with networking

00:06:32:15 - 00:06:34:02
because it's one of my favorite topics.

00:06:34:02 - 00:06:37:05
It’s one of the things that I spend
most of my time in business doing.

00:06:37:05 - 00:06:39:07
And as anyone who follows
me regularly will know,

00:06:39:07 - 00:06:43:03
it's something that I attribute for
most of my business successes, really.

00:06:43:03 - 00:06:46:13
And not just my business successes,
but most of my opportunities in life

00:06:46:13 - 00:06:49:02
actually come down to
the people in my network.

00:06:49:02 - 00:06:53:17
One of the best ways to improve at doing
something is to actually just be doing it.

00:06:53:17 - 00:06:55:05
You know, to be doing it more regularly.

00:06:55:05 - 00:06:57:06
Build that confidence
muscle, because, I mean,

00:06:57:06 - 00:06:59:10
confidence is a very important thing in networking.

00:06:59:10 - 00:07:02:06
People don't like doing it because
they haven't done enough of it.

00:07:02:06 - 00:07:04:15
They've never had the right
successes from it in the past,

00:07:04:15 - 00:07:07:23
so they just don't feel comfortable
going out and meeting other people.

00:07:07:23 - 00:07:10:00
But there's quite a few things
you need to understand,

00:07:10:00 - 00:07:11:17
quite a few things
that you need to get right.

00:07:11:17 - 00:07:14:12
First of all, when it comes to
networking in a business situation,

00:07:14:12 - 00:07:15:10
you must remember

00:07:15:10 - 00:07:18:19
that most of the people out there
are in the same position as you.

00:07:18:19 - 00:07:20:11
They're wanting to grow their network.

00:07:20:11 - 00:07:22:16
They’re probably not huge fans of networking.

00:07:22:16 - 00:07:24:11
They’re probably scared about these,

00:07:24:11 - 00:07:26:22
you know, ice breaking
introductory conversations, too.

00:07:26:22 - 00:07:29:18
So you're all as nervous as each other
and you're all in the same boat.

00:07:29:18 - 00:07:33:10
So use that I guess is a bit of
a, a denerve - Is that even a word?

00:07:33:10 - 00:07:36:14
Something to de-damage your nerves and realize

00:07:36:14 - 00:07:40:03
that other people will probably be
suffering the same fears as you.

00:07:40:03 - 00:07:43:10
Now top tips for how to get
better value from networking.

00:07:43:10 - 00:07:47:08
First of all, you need to be
networking in the right situations

00:07:47:08 - 00:07:48:07
with the right people.

00:07:48:07 - 00:07:52:15
I always say that I really,
really do hone in on the targets

00:07:52:15 - 00:07:53:24
that I want to network with.

00:07:53:24 - 00:07:58:00
It's not just a random process
of chucking out business cards

00:07:58:00 - 00:07:58:23
and hoping for the best.

00:07:58:23 - 00:08:03:14
The best targets that I've networked with
and had the best results from are ones

00:08:03:14 - 00:08:07:11
that I've really identified early on
and said I need to meet that person.

00:08:07:11 - 00:08:09:04
It may have been a specific person

00:08:09:04 - 00:08:11:20
or it may have been a person
in a specific environment.

00:08:11:20 - 00:08:15:01
It would typically be, you
know, I want to get funding

00:08:15:01 - 00:08:18:21
from that business or I want to
do business with this company.

00:08:18:21 - 00:08:20:10
Therefore, I need to have a relationship

00:08:20:10 - 00:08:22:13
with their chief executive
or their chairman

00:08:22:13 - 00:08:24:22
or one of their major shareholders
or whoever it may be.

00:08:24:22 - 00:08:28:11
So I specifically find and
identify those people.

00:08:28:11 - 00:08:30:05
So I know who I’m out there looking for.

00:08:30:05 - 00:08:33:13
You know, a lot of the reason that people,
I guess, give networking a bad name

00:08:33:13 - 00:08:36:22
is because people are trying to
probably network with the wrong people,

00:08:36:22 - 00:08:40:08
trying to force a product on them
that they don't want or been

00:08:40:08 - 00:08:43:03
on the receiving end of a, of a
product that they don't want.

00:08:43:03 - 00:08:47:15
The whole point of success in networking
is mutually beneficial relationships,

00:08:47:15 - 00:08:49:00
not forcing products

00:08:49:00 - 00:08:53:02
and services and situations on people
that they don't want to be forced into.

00:08:53:02 - 00:08:55:16
So have a careful think
before you start about

00:08:55:16 - 00:08:58:18
who you want to meet and set out
ways to then go and meet them.

00:08:58:18 - 00:09:02:18
Second way I like to network
is by just being associated

00:09:02:18 - 00:09:05:20
or surrounded by the right
caliber of people that I may

00:09:05:20 - 00:09:08:24
not specifically know why I'm going to
be doing anything with that person.

00:09:08:24 - 00:09:13:15
I might have a specific business
need or task or circumstance in hand

00:09:13:15 - 00:09:15:24
at that point, but I will know that at some point

00:09:15:24 - 00:09:19:02
in the future that person is
probably going to add value to

00:09:19:02 - 00:09:22:12
my network, is going to enrich
my life in some way, shape or form.

00:09:22:12 - 00:09:25:08
So that could just be people
from a certain sector.

00:09:25:08 - 00:09:27:18
It could be, you know, high net worth individuals,

00:09:27:18 - 00:09:29:22
because obviously
in my specific line of business,

00:09:29:22 - 00:09:33:14
I spend a lot of time raising investment
money, working with investors.

00:09:33:14 - 00:09:36:16
So obviously it always makes sense for me
to be surrounded by those kind of people.

00:09:36:16 - 00:09:39:13
But you can take this analogy
into anything that you want to do.

00:09:39:13 - 00:09:41:08
I mean, whether, I don't know,
if you're an accountant

00:09:41:08 - 00:09:42:21
looking for other business owners,

00:09:42:21 - 00:09:46:01
if you are, let's take it something
completely non businessy.

00:09:46:01 - 00:09:50:05
If you want to have a career in football,
being surrounded by people

00:09:50:05 - 00:09:53:12
from football teams
or in sporting arenas, etc.,

00:09:53:12 - 00:09:57:09
are going to ultimately hopefully put you
one step closer to where you want to be.

00:09:57:09 - 00:10:01:11
So you should always be networking
with a purpose, always networking

00:10:01:11 - 00:10:03:02
with an end goal in place.

00:10:03:02 - 00:10:07:10
Because if you're just randomly talking
to people, randomly chucking business

00:10:07:10 - 00:10:09:12
cards out here and there, you're going to not get

00:10:09:12 - 00:10:11:11
the results you want and
you're going to feel demoralized.

00:10:11:11 - 00:10:13:06
And the people that you talk to are probably going

00:10:13:06 - 00:10:15:07
to get irritated by having you around.

00:10:15:07 - 00:10:17:11
And the third tip I would give on networking,

00:10:17:11 - 00:10:20:18
especially on building the relationships
with the people that you want to build,

00:10:20:18 - 00:10:22:13
is you've got to be adding value.

00:10:22:13 - 00:10:25:15
And I always say you've got
to be giving a lot more before

00:10:25:15 - 00:10:27:11
you ever think about receiving anything.

00:10:27:11 - 00:10:31:12
And again, that's another big problem
with, I guess, networking and relationship

00:10:31:12 - 00:10:33:24
building in general, that people just always find that,

00:10:33:24 - 00:10:38:02
you know, somebody appears and
tries to sap something from them,

00:10:38:02 - 00:10:41:16
whether it's knowledge or money
or skill sets or whatever it is.

00:10:41:16 - 00:10:44:17
I always find that I've built the best relationships

00:10:44:17 - 00:10:47:20
with the people who've delivered me
the most long term value

00:10:47:20 - 00:10:51:16
by looking at how I can
help them and what I can do

00:10:51:16 - 00:10:55:11
to make their life better long before
I think about what I can take from them.

00:10:55:11 - 00:10:58:24
Now, obviously it's going to
differ in certain situations.

00:10:58:24 - 00:11:02:15
I mean, if for example, I am
looking to deal with a lender

00:11:02:15 - 00:11:04:22
and I'm looking to borrow
and they're looking to lend.

00:11:04:22 - 00:11:08:00
Obviously there's something probably
quite immediate and transactional

00:11:08:00 - 00:11:09:16
that we can both talk about.

00:11:09:16 - 00:11:11:17
Because I'm just talking
about building my network

00:11:11:17 - 00:11:14:15
with great people that I want to surround myself with.

00:11:14:15 - 00:11:16:11
Then I need to bring something to the table.

00:11:16:11 - 00:11:18:23
I need to have something of value to offer,

00:11:18:23 - 00:11:22:24
now whether that's helping people out by
making them introductions to other people

00:11:22:24 - 00:11:26:11
in my network, whether it's putting
on great events to take them to,

00:11:26:11 - 00:11:30:02
whether it's finding a way to
solve a problem that they've got.

00:11:30:02 - 00:11:33:04
You know, whatever it is, I'm always
thinking of ways to help them

00:11:33:04 - 00:11:36:24
to make their life better long before
I'm asking to take something from them.

00:11:36:24 - 00:11:38:21
So three or four top tips for you there.

00:11:38:21 - 00:11:40:05
You need to apply all of them.

00:11:40:05 - 00:11:41:04
But ultimately,

00:11:41:04 - 00:11:44:08
if you want to get better at networking,
you need to be doing more and more of it.

00:11:44:08 - 00:11:47:24
It’s an absolutely essential skill
for success in business.

00:11:47:24 - 00:11:51:18
But I would really say it's
an essential skill for success in life

00:11:51:18 - 00:11:56:00
and whatever areas you want to work in,
whether you are looking to be

00:11:56:00 - 00:12:00:04
a business owner, a photographer,
a football player, a musician,

00:12:00:04 - 00:12:02:11
whatever it is you want to do,
you need connections

00:12:02:11 - 00:12:06:10
and you need a great network to be able
to get the results that you want to get.

00:12:06:10 - 00:12:09:13
So the quicker that you can
start to build your confidence

00:12:09:13 - 00:12:11:14
and start to learn new skills
in networking,

00:12:11:14 - 00:12:13:23
the quicker you're going to get
the successes that you want.

00:12:16:13 - 00:12:18:19
So does having a husband, wife

00:12:18:19 - 00:12:22:04
boyfriend or girlfriend affect
your productivity in business?

00:12:22:04 - 00:12:23:15
Very interesting question.

00:12:23:15 - 00:12:24:22
I think it's a good question

00:12:24:22 - 00:12:28:17
because it's probably the kind of question
that most people are afraid to ask.

00:12:28:17 - 00:12:31:23
And I'm sure most people are afraid
to give an honest answer on.

00:12:31:23 - 00:12:33:19
I don't think this just applies to business

00:12:33:19 - 00:12:38:24
For me, this is a fundamental
question for success in life,

00:12:38:24 - 00:12:43:08
and for happiness in life, in any
area that you decide to explore.

00:12:43:08 - 00:12:47:05
I guess the question was, does having
a partner hamper your productivity?

00:12:47:05 - 00:12:49:22
I’ll answer it in a different way
and say, I honestly believe

00:12:49:22 - 00:12:53:04
having the right partner
is absolutely fundamental

00:12:53:04 - 00:12:56:20
to your maximum potential
in any particular area.

00:12:56:20 - 00:13:00:16
Before we get deep into it, I mean, you
just think, how can you be at your best?

00:13:00:16 - 00:13:03:15
How can you perform at your best,
whether it's as a business person,

00:13:03:15 - 00:13:06:04
whether it's as a sportsman, an artist, anything.

00:13:06:04 - 00:13:07:05
How can you do that

00:13:07:05 - 00:13:10:17
when you've got a nagging wife
or some annoying jealous boyfriend

00:13:10:17 - 00:13:11:16
or whatever it may be

00:13:11:16 - 00:13:14:14
Blowing up your phone all day,
hacking you, hampering

00:13:14:14 - 00:13:15:19
what you're trying to get on with?

00:13:15:19 - 00:13:20:13
So yeah, I think it's absolutely
fundamental to have a great relationship.

00:13:20:13 - 00:13:23:04
Listen, by great relationship,
we've got to be realistic.

00:13:23:04 - 00:13:24:16
I'm not saying we don't have problems.

00:13:24:16 - 00:13:26:11
We all have problems
in our relationships.

00:13:26:11 - 00:13:27:04
She goes...

00:13:28:11 - 00:13:30:19
‘just looking at you, you’re just so fucking fat’.

00:13:30:19 - 00:13:35:10
But I think if things aren't perfect 90%
plus of the time, then you're going

00:13:35:10 - 00:13:39:24
to find that all of the other areas
in your life suffer dramatically.

00:13:39:24 - 00:13:44:02
So my honest advice would be
if you can't have a great partner

00:13:44:02 - 00:13:47:03
and a great relationship then
I really think you should have

00:13:47:03 - 00:13:50:13
no relationship and you
should be single because you...

00:13:50:13 - 00:13:55:05
if you've got great aspirations
in business, in sports, in life,

00:13:55:05 - 00:13:57:16
or whatever it may be, you aren't going to get there

00:13:57:16 - 00:14:00:05
by having someone pulling
back, holding you back.

00:14:00:05 - 00:14:03:06
And this isn't aimed specifically
at girls or specifically boys.

00:14:03:06 - 00:14:05:15
We all know that in life
with our partners,

00:14:05:15 - 00:14:07:21
there's a multitude of issues
that can be there.

00:14:07:21 - 00:14:10:16
If your interests aren't aligned,
if there's trust issues,

00:14:10:16 - 00:14:13:13
whatever it may be, that causes
annoyances and problems.

00:14:13:13 - 00:14:15:13
Look, we're all going to have
a bad day in our relationship.

00:14:15:13 - 00:14:19:13
But you need someone who is fully aligned
with your goals, with your interests,

00:14:19:13 - 00:14:20:24
with your passions, etc..

00:14:20:24 - 00:14:23:09
Otherwise, neither of you are going to be happy

00:14:23:09 - 00:14:25:02
and you're not going to get
where you want to be.

00:14:25:02 - 00:14:26:09
I think when it comes to business

00:14:26:09 - 00:14:29:05
specifically as well,
I also see a lot of problems

00:14:29:05 - 00:14:32:09
where business owners have a partner,
you know, whether it's a husband,

00:14:32:09 - 00:14:36:24
whether it's a wife who have not been
a part of that business in any way.

00:14:36:24 - 00:14:41:19
But they get the ability to cause problems for them.

00:14:41:19 - 00:14:43:15
This particularly comes down to, let's say,

00:14:43:15 - 00:14:46:20
signing financial documents, signing guarantees, etc..

00:14:46:20 - 00:14:51:00
I mean, many times have I seen struggling
business owners, who need to put

00:14:51:00 - 00:14:54:10
some money back into the business,
have the opportunity to get a loan.

00:14:54:10 - 00:14:55:14
But to get that loan,

00:14:55:14 - 00:14:59:16
they need to be able to, for example,
put up the family house as security.

00:14:59:16 - 00:15:03:00
And I have seen more times than not,
the wife or the husband,

00:15:03:00 - 00:15:07:11
who isn't the business owner,
actually refuse to allow that person

00:15:07:11 - 00:15:10:16
to sign the loan and to use the
house as security, which then

00:15:10:16 - 00:15:14:01
ultimately means that the business fails,
the business falls down.

00:15:14:01 - 00:15:18:00
I've always had a very simple rule
with my girlfriends, partners, etc.,

00:15:18:00 - 00:15:20:06
that I've been with, even with
my wife when, you know,

00:15:20:06 - 00:15:21:18
when I was married to Harley's mum.

00:15:21:18 - 00:15:24:21
And my rule is if you don't
bring any money to the table,

00:15:24:21 - 00:15:26:23
then you don't get to talk to me
about my money.

00:15:26:23 - 00:15:30:17
I'm not saying that in a
chauvinistic way, in a selfish way,

00:15:30:17 - 00:15:34:20
or in a in a way of looking down on
someone who's got less money than me.

00:15:34:20 - 00:15:37:14
Because ultimately we're
together in a relationship.

00:15:37:14 - 00:15:39:11
You know, we are partners in that way.

00:15:39:11 - 00:15:42:05
But ultimately, my businesses
and my money have come

00:15:42:05 - 00:15:46:05
from my risk taking, from my ideas
and my logic, etc., etc..

00:15:46:05 - 00:15:48:16
And I always say to the
partners that I'm with, look,

00:15:48:16 - 00:15:50:07
you're joining me in my relationship.

00:15:50:07 - 00:15:53:07
You get to enjoy the fruits of my labors.

00:15:53:07 - 00:15:56:04
You know, you get to enjoy and
benefit from the things that I've done.

00:15:56:04 - 00:15:58:01
But I'm not going to let
you stick your oar in

00:15:58:01 - 00:16:01:22
and I guess fuck things up in a way
that I wouldn't be happy with.

00:16:01:22 - 00:16:04:06
So don't tell me how to run my business.

00:16:04:06 - 00:16:05:22
Don't tell me what I can and can't do.

00:16:05:22 - 00:16:08:03
Don't tell me how I can
and can't spend my money.

00:16:08:03 - 00:16:11:22
And certainly don't
tell me not to make decisions

00:16:11:22 - 00:16:13:20
that I know are right for the business

00:16:13:20 - 00:16:17:00
just because they may not be perfect
for our personal life right now.

00:16:17:00 - 00:16:19:00
Look, I know that doesn't apply to everybody.

00:16:19:00 - 00:16:20:19
If you have a husband

00:16:20:19 - 00:16:24:03
or wife or a boyfriend or girlfriend
to be with you since day one,

00:16:24:03 - 00:16:26:17
and you both started with
nothing, now got big money

00:16:26:17 - 00:16:29:24
or you've both been together from day
one because he or she has supported

00:16:29:24 - 00:16:33:05
you from day one and you're now
20 years down the line and maybe you're

00:16:33:05 - 00:16:37:00
the husband doing all the work and she's
the wife who's looked after the kids and

00:16:37:00 - 00:16:40:23
made the house perfect and made
made your personal lives fantastic.

00:16:40:23 - 00:16:43:10
So without her, you wouldn't
have had your business.

00:16:43:10 - 00:16:45:07
That's a very different scenario, I think.

00:16:45:07 - 00:16:49:11
I've grown my businesses on my own
over the years, and there's been no single

00:16:49:11 - 00:16:51:10
woman who's been with me from day one

00:16:51:10 - 00:16:54:07
and suffered all of the bad
stuff that I've had to suffer.

00:16:54:07 - 00:16:56:01
Therefore, my view is quite simple.

00:16:56:01 - 00:16:59:20
If you join me, I make the decisions,
if that means I fuck up at times and

00:16:59:20 - 00:17:02:13
and that has an impact on us
not having not having some money

00:17:02:13 - 00:17:04:12
or not having enough money,
that's tough shit.

00:17:04:12 - 00:17:05:22
If you're only here for the money.

00:17:05:22 - 00:17:07:14
I'm not really fucking
interested in you anyway,

00:17:07:14 - 00:17:10:06
so you've got to take the rough and
the smooth. But that's what works for me.

00:17:10:06 - 00:17:12:08
I went off on a bit of a tangent there,

00:17:12:08 - 00:17:16:08
but I think all of these kind of stories
and answers get back to the same thing.

00:17:16:08 - 00:17:21:08
But yes, having the right partner is
absolutely essential for business success.

00:17:21:08 - 00:17:24:02
And if you can't have the right partner,
make sure you have no partner.

00:17:24:02 - 00:17:26:06
Be single minded and go
and achieve your goals.

00:17:28:20 - 00:17:30:22
Should you have multiple income streams?

00:17:30:22 - 00:17:31:22
Very good question.

00:17:31:22 - 00:17:34:13
And probably a very topical
question nowadays because,

00:17:34:13 - 00:17:37:03
you know, whenever you look on Instagram,
whenever you look on YouTube,

00:17:37:03 - 00:17:40:11
there's all your business gurus,
all your financial advisors out there

00:17:40:11 - 00:17:43:24
drumming on about the importance
of multiple streams of income.

00:17:43:24 - 00:17:45:17
But I don't think the
answer to the question

00:17:45:17 - 00:17:48:24
is just quite as simple as yes,
you should and no you shouldn't.

00:17:48:24 - 00:17:54:00
I mean, I think we all know that
having less reliance on any one

00:17:54:00 - 00:17:58:05
particular thing is the right way to go,
whether that's reliance on one particular

00:17:58:05 - 00:18:01:23
stream of income or one particular
main client in a business or

00:18:01:23 - 00:18:02:22
whatever it may be

00:18:02:22 - 00:18:04:08
when you've only got one of something,

00:18:04:08 - 00:18:07:09
the risk of losing it and that
potential detrimental effect

00:18:07:09 - 00:18:11:01
on your business, on your lifestyle,
on your life in general is obviously huge.

00:18:11:01 - 00:18:13:23
I think, you know, we've all seen
this during the COVID times

00:18:13:23 - 00:18:16:23
when people who had jobs lost
them, and when business owners

00:18:16:23 - 00:18:19:10
who had reliance on one particular customer

00:18:19:10 - 00:18:23:11
or, you know, one particular
geographic area or whatever it may be

00:18:23:11 - 00:18:26:21
when those doors are closed,
you know, it's a big wake up call to you.

00:18:26:21 - 00:18:29:11
Influencers have seen it on social media

00:18:29:11 - 00:18:30:14
when they have the focus

00:18:30:14 - 00:18:33:01
of all their attentions
on one particular platform.

00:18:33:01 - 00:18:35:01
You know, they may be very big on Instagram

00:18:35:01 - 00:18:38:05
but have not quite cracked it
yet on TikTok or Twitter etc.

00:18:38:05 - 00:18:41:18
When Meta has a bad day,
facebook is down or Instagram's down

00:18:41:18 - 00:18:42:15
and it's a big problem.

00:18:42:15 - 00:18:44:24
I mean, I noticed this yesterday on WhatsApp.

00:18:44:24 - 00:18:48:09
I mean, how many of us
now are glued to WhatsApp

00:18:48:09 - 00:18:51:21
for our personal communications
and for a lot of business communications.

00:18:51:21 - 00:18:53:15
I see a lot of businesses out there

00:18:53:15 - 00:18:56:07
that actually pride themselves
on being a WhatsApp first

00:18:56:07 - 00:18:58:24
or a WhatsApp only business.
And I was at home yesterday.

00:18:58:24 - 00:19:01:18
I thought the WiFi problem, realized
there wasn't, you know, actually

00:19:01:18 - 00:19:04:19
WhatsApp had gone down for
an hour, an hour and a half.

00:19:04:19 - 00:19:07:22
So when these problems happen,
it shows you how much

00:19:07:22 - 00:19:11:02
you need to have multiple sources of anything.

00:19:11:02 - 00:19:14:07
So I know the question was about
multiple streams of income.

00:19:14:07 - 00:19:18:03
But for me, the answer is you need to
have multiple sources of everything.

00:19:18:03 - 00:19:20:03
You know, reliance on many, many things.

00:19:20:03 - 00:19:24:20
However, you also need to concentrate on
getting each source, each stream, correct.

00:19:24:20 - 00:19:27:14
So for me, the big mistake is to be running off

00:19:27:14 - 00:19:30:22
too early and getting multiple streams of something

00:19:30:22 - 00:19:34:22
when none of those streams are solid,
when your skill sets not right, or

00:19:34:22 - 00:19:37:18
when you haven't got a
solid base, a solid foundation.

00:19:37:18 - 00:19:41:18
If you are investing in property
for example, and you have bought

00:19:41:18 - 00:19:43:17
your first house and people say, Well,

00:19:43:17 - 00:19:49:00
you now need to move into crypto,
you now need to move into a pension, into

00:19:49:00 - 00:19:51:02
renting out equipment, whatever it may be.

00:19:51:02 - 00:19:54:16
That may be the right answer in the
long term for some diversification.

00:19:54:16 - 00:19:58:20
I think in the short term, you need
to make sure you've got a stable base

00:19:58:20 - 00:20:02:01
and a great level of knowledge
in each of the particular areas

00:20:02:01 - 00:20:02:23
that you're going into.

00:20:02:23 - 00:20:05:03
So if you've just moved into
property and you’ve bought

00:20:05:03 - 00:20:09:00
your first rental property, for example,
then for me, now is not the time

00:20:09:00 - 00:20:12:00
to be forgetting about the property
and moving on to something else.

00:20:12:00 - 00:20:15:10
You need to be concentrating on
building a solid base in that area.

00:20:15:10 - 00:20:17:06
I mean, using property as the example.

00:20:17:06 - 00:20:20:15
I often say this where someone's bought
a house, for example, they’re from Leeds.

00:20:20:15 - 00:20:22:08
And they've bought
a rental property in Leeds

00:20:22:08 - 00:20:23:08
and then you ask them

00:20:23:08 - 00:20:24:10
what they’re doing
next and they say,

00:20:24:10 - 00:20:26:01
Oh, I’m buying a house in Spain,

00:20:26:01 - 00:20:29:10
And I'm going to rent it out, or buying
something in Portsmouth or Portugal.

00:20:29:10 - 00:20:30:06
Or wherever it may be.

00:20:30:06 - 00:20:33:24
And whenever I ask them why, you know,
the answer is always about diversification.

00:20:33:24 - 00:20:38:00
But these people don't really
consider the cost implications

00:20:38:00 - 00:20:42:11
of diversifying so far apart
so early on in the game.

00:20:42:11 - 00:20:45:03
And you know, when they only
have, say, one property in Leeds,

00:20:45:03 - 00:20:49:11
for me they can be having two, three,
five, ten or 20 properties in Leeds.

00:20:49:11 - 00:20:53:00
before there's
any real risk of a concentration issue.

00:20:53:00 - 00:20:55:07
So yes, you need to be diversified.

00:20:55:07 - 00:20:57:04
Yes, you need multiple streams of income.

00:20:57:04 - 00:21:01:21
Yes, you need multiple sources of revenue,
of audience, of whatever it may be.

00:21:01:21 - 00:21:03:23
But before you move on
to stream number two,

00:21:03:23 - 00:21:06:18
make sure you've properly
bedded in source number one.

00:21:06:18 - 00:21:07:17
So like I say,

00:21:07:17 - 00:21:10:20
I know the question was about income,
but you can apply it to many areas.

00:21:10:20 - 00:21:14:08
Yes, you could have multiple sources,
but make sure you've got the right sources

00:21:14:08 - 00:21:16:22
and make sure that they're all solid sources

00:21:16:22 - 00:21:18:13
before you spread yourself too thin,

00:21:18:13 - 00:21:20:22
and end up with multiple
sources of nothing.

00:21:23:11 - 00:21:25:01
So if you’re new in business,

00:21:26:05 - 00:21:26:24
is probably

00:21:26:24 - 00:21:30:04
one of the most difficult activities
you're going to have to undertake.

00:21:30:04 - 00:21:32:16
Raising finance in general is never easy.

00:21:32:16 - 00:21:33:23
Well, never normally easy.

00:21:33:23 - 00:21:38:04
But raising finance for new start
businesses is particularly difficult.

00:21:38:04 - 00:21:40:15
Now, I mean, this is a minefield of an area

00:21:40:15 - 00:21:42:15
that we could talk
and talk and talk about.

00:21:42:15 - 00:21:45:03
But the key things that you need to know are,

00:21:45:03 - 00:21:48:06
when you’re raising finance for a new
start business, you've got two options.

00:21:48:06 - 00:21:50:10
You have equity and you have debt.

00:21:50:10 - 00:21:54:24
Equity is where you take money in return
for selling some shares in the business.

00:21:54:24 - 00:21:57:19
The person giving you
the money gets a piece of the action.

00:21:57:19 - 00:22:02:17
Debt is where you are lent the money
and you then repay it along with interest.

00:22:02:17 - 00:22:06:03
It’s always easier normally to raise debt than it is

00:22:06:03 - 00:22:09:03
to raise equity because people
can see exactly where they stand.

00:22:09:03 - 00:22:11:23
There's a lot less variables
involved than in equity.

00:22:11:23 - 00:22:14:19
People would argue that there's
a much bigger upside with equity.

00:22:14:19 - 00:22:18:15
Yes, there is, but it's much more
of a complicated scenario to assess.

00:22:18:15 - 00:22:20:22
Now, when you're raising debt
for a new start business,

00:22:20:22 - 00:22:24:20
because that business doesn't
have any track record, the reality is

00:22:24:20 - 00:22:27:21
the lenders are going to be relying on the credit

00:22:27:21 - 00:22:31:12
and the reliability of the directors
and the owners of the business.

00:22:31:12 - 00:22:33:13
You're going to be asked
to stand behind your loan

00:22:33:13 - 00:22:37:22
and to give a personal guarantee,
therefore, it’s absolutely essential

00:22:37:22 - 00:22:40:07
that as an individual, you have good credit

00:22:40:07 - 00:22:43:00
because your business doesn't
have any credit at this point 

00:22:43:00 - 00:22:45:22
and therefore it’s going to be
your credit thats looked upon.

00:22:45:22 - 00:22:50:18
I mean, even when raising finance for
more mature and established businesses

00:22:50:18 - 00:22:52:24
it’s actually still very important.

00:22:52:24 - 00:22:56:00
as an owner or as a director
of those businesses to have good credit

00:22:56:00 - 00:22:59:22
because even if you're not giving
a guarantee, the chances are any lender

00:22:59:22 - 00:23:02:10
is going to credit
check you as an individual

00:23:02:10 - 00:23:06:12
so that they can see how you behave, what
your historical payment history is like.

00:23:06:12 - 00:23:08:08
Even if you've got a more established business,

00:23:08:08 - 00:23:11:24
that’s got a credit rating, that’s got,
you know, a financial history.

00:23:11:24 - 00:23:15:20
The chances are that any lender is going
to want to look at the credit reports

00:23:15:20 - 00:23:18:19
of the business owners, of the
business directors anyway.

00:23:18:19 - 00:23:21:08
Because even though you might
not be standing behind the loan,

00:23:21:08 - 00:23:23:01
even though you may
not be guaranteeing it,

00:23:23:01 - 00:23:25:13
you are ultimately the people
who are going to be responsible

00:23:25:13 - 00:23:26:20
for making those payments

00:23:26:20 - 00:23:29:20
and therefore they're going
to want to know how you behave.

00:23:29:20 - 00:23:31:13
Do you have a history of bouncing

00:23:31:13 - 00:23:35:08
cheques, of missing credit card payments,
of not paying little bills?

00:23:35:08 - 00:23:37:16
Because this isn't just about
whether you've got the money,

00:23:37:16 - 00:23:39:24
it’s how you perform when
you do have the money.

00:23:39:24 - 00:23:42:10
And many, many people out
there are very disorganized.

00:23:42:10 - 00:23:44:12
You know, they may have the
ability to make payments,

00:23:44:12 - 00:23:47:06
but they don't have the
direct debits set up properly,

00:23:47:06 - 00:23:49:02
they don't manage their
cash flow properly.

00:23:49:02 - 00:23:51:16
So you know, they just cause
an annoyance to lenders.

00:23:51:16 - 00:23:53:03
All these things are very important.

00:23:53:03 - 00:23:55:05
So get your own
personal credit file, right.

00:23:55:05 - 00:23:57:05
And then that way of operating,

00:23:57:05 - 00:24:01:11
that professional attitude should
translate into into your business as well.

00:24:01:11 - 00:24:04:16
But even if you're prepared
and able as a business owner to stand

00:24:04:16 - 00:24:08:15
behind your business loans, to guarantee
them as a new start business, the amount

00:24:08:15 - 00:24:12:21
of financing opportunities for start up
businesses out there aren’t huge.

00:24:12:21 - 00:24:16:00
And I think what's very important
to do is to actually make sure

00:24:16:00 - 00:24:17:11
that when you are setting up a business,

00:24:17:11 - 00:24:20:18
you’re running it as tight as humanly
possible and you're actually only

00:24:20:18 - 00:24:24:09
spending the absolute minimum
amount of money necessary.

00:24:24:09 - 00:24:27:20
So often I see business plans
where people are looking

00:24:27:20 - 00:24:31:10
to raise or to borrow tens,
if not hundreds of thousands of pounds.

00:24:31:10 - 00:24:32:24
And when you actually
look into what they want

00:24:32:24 - 00:24:36:19
to use that money for, it’s
such completely unnecessary things.

00:24:36:19 - 00:24:38:18
It's fancy offices on day one.

00:24:38:18 - 00:24:42:17
It's hiring multiple members of staff
when there aren't even any customers.

00:24:42:17 - 00:24:46:02
It's to fund a marketing plan
which is had no thought

00:24:46:02 - 00:24:49:13
or logic behind it is ultimately going
to end up being money down the drain.

00:24:49:13 - 00:24:53:09
So one of the best ways to raise
money is actually to make sure

00:24:53:09 - 00:24:56:05
you don't need to raise it
or don't need to raise as much

00:24:56:05 - 00:24:57:18
as you initially thought,
because that's going

00:24:57:18 - 00:24:59:22
to make the whole money
raising job easier.

00:24:59:22 - 00:25:02:22
A key method of raising money
for start a businesses,

00:25:02:22 - 00:25:06:21
and new start businesses is quite often
borrowing from friends and family,

00:25:06:21 - 00:25:10:13
from stakeholders who've got
some kind of vested interest in you.

00:25:10:13 - 00:25:12:17
Now I know, a lot of people
don't like to go down this route.

00:25:12:17 - 00:25:15:02
They like to say, Well,
I want to stand on my own two feet

00:25:15:02 - 00:25:17:20
or I'm not going to go
and ask the bank of Mum and Dad

00:25:17:20 - 00:25:20:22
or I'm not going to rely on my
friends or whatever it may be.

00:25:20:22 - 00:25:24:09
My advice is, I think it's quite important
to take your ego out of it because

00:25:24:09 - 00:25:26:16
raising money is very, very difficult for a business,

00:25:26:16 - 00:25:28:18
for any business,
particularly a start up business.

00:25:28:18 - 00:25:31:23
And if you've got people offering
to give you money, whether that’s

00:25:31:23 - 00:25:35:15
a wealthy brother or sister, a generous
mum and dad, whatever it may be.

00:25:35:15 - 00:25:39:05
I think you really need to think twice
if you're considering not taking it,

00:25:39:05 - 00:25:40:07
because it could be

00:25:40:07 - 00:25:44:01
one of the only opportunities you get
for a long while to raise that money.

00:25:44:01 - 00:25:45:17
Now look, I can't talk about how that's going

00:25:45:17 - 00:25:47:14
to damage your relationship
if things go wrong.

00:25:47:14 - 00:25:49:22
Only you know what that
situation is going to be like that.

00:25:49:22 - 00:25:52:04
But I think it's important
not to have an ego about it

00:25:52:04 - 00:25:54:05
and not to say, oh, I'm going
to do everything for myself,

00:25:54:05 - 00:25:56:17
because raising money
is very, very difficult.

00:25:56:17 - 00:25:58:10
So three or four key things there.

00:25:58:10 - 00:26:01:14
You know, make sure you're not trying to
raise more money than you actually need.

00:26:01:14 - 00:26:05:06
Make sure you've tried to tap up
any sources who are easy for you

00:26:05:06 - 00:26:06:21
to get money from in the first place.

00:26:06:21 - 00:26:08:20
Friends, family, parents, etc.

00:26:08:20 - 00:26:12:11
And also make sure that your
personal credit file is as good

00:26:12:11 - 00:26:15:09
as can possibly be, because anyone
lending that business money

00:26:15:09 - 00:26:18:13
is going to want to know that you,
the owner, can stand behind it.

00:26:18:13 - 00:26:20:21
Aside from that,
there's also the opportunity

00:26:20:21 - 00:26:23:10
for many businesses
to be able to raise grants

00:26:23:10 - 00:26:26:16
or potentially even money
from business related charities.

00:26:26:16 - 00:26:30:06
That's all going to depend on what area
you’re in, what type of business you are,

00:26:30:06 - 00:26:32:03
what your stage of life is, etc..

00:26:34:16 - 00:26:38:04
If I lost it all, what would I do
tomorrow to get rich again?

00:26:38:04 - 00:26:39:04
Interesting question.

00:26:39:04 - 00:26:41:08
And for me, quite an easy one to answer

00:26:41:08 - 00:26:43:15
because I've been in this position once before,

00:26:43:15 - 00:26:46:03
and I’ve almost been in it
two or three times before.

00:26:46:03 - 00:26:49:00
If I lost everything and I had to
start afresh from tomorrow.

00:26:49:00 - 00:26:53:03
Two things I would immediately be doing
is hammering the life out of my network

00:26:53:03 - 00:26:55:19
and hammering the
life out of the skillsets

00:26:55:19 - 00:26:57:19
that I've got that I can monetize.

00:26:57:19 - 00:27:00:23
Because for me, they're the only two
ways that you really make money.

00:27:00:23 - 00:27:03:22
You make money from the skills
you've got and you make money

00:27:03:22 - 00:27:07:00
from the people that you know,
the people you've got in your network.

00:27:07:00 - 00:27:10:05
And that's why I'm always growing those skills

00:27:10:05 - 00:27:12:10
for myself, growing that network for myself.

00:27:12:10 - 00:27:13:18
And I'm always telling you guys

00:27:13:18 - 00:27:15:02
how important it is

00:27:15:02 - 00:27:18:08
to be building your network and
how you've got to be investing in yourself

00:27:18:08 - 00:27:22:02
and growing your own skills, your
own skill sets, your skill bases.

00:27:22:02 - 00:27:25:09
Now monetizable skills come in
many, many shapes and forms.

00:27:25:09 - 00:27:29:07
Ultimately, it’s anything that you can
do that you can charge a price for.

00:27:29:07 - 00:27:33:06
They come in different shapes and
sizes and with different values.

00:27:33:06 - 00:27:37:04
Being able to cut gardens,
for example, is a monetizable skill set.

00:27:37:04 - 00:27:40:18
Obviously, it's not going to be
as valuable as teaching someone

00:27:40:18 - 00:27:44:15
how to be a concert great pianist,
and that's not going to be as valuable

00:27:44:15 - 00:27:47:15
as having the skill set
of being an SEO master.

00:27:47:15 - 00:27:51:04
And being able to help somebody’s
website ranked at the top of Google,

00:27:51:04 - 00:27:53:23
all of these different skills
have got different values on them,

00:27:53:23 - 00:27:55:21
but they're all absolutely essential.

00:27:55:21 - 00:27:57:15
Moving on from skills to networks.

00:27:57:15 - 00:28:00:07
I always say that it’s
the people in my network

00:28:00:07 - 00:28:05:15
who've been directly responsible for
80-90% of my, kind of, key successes.

00:28:05:15 - 00:28:08:16
If I lost everything tomorrow,
I would be picking up the phone

00:28:08:16 - 00:28:11:24
to the people that I know
could help me do a deal,

00:28:11:24 - 00:28:14:22
that could buy something from me,
that could sell something to me.

00:28:14:22 - 00:28:18:23
That could, you know, get me back
in the game in some way, shape or form.

00:28:18:23 - 00:28:21:06
I often talk about, that as I get older,

00:28:21:06 - 00:28:24:10
I have less and less fear
about losing everything.

00:28:24:10 - 00:28:28:01
I mean, not that I ever probably particularly
feared it too much in the first place,

00:28:28:01 - 00:28:30:24
but, because I know that I've got these skills,

00:28:30:24 - 00:28:33:01
because I know that I have this network,

00:28:33:01 - 00:28:35:09
if I was ever pushed with my back against the wall,

00:28:35:09 - 00:28:37:21
as much as I wouldn’t like to have lost my money,

00:28:37:21 - 00:28:39:17
I would still be pretty comfortable

00:28:39:17 - 00:28:41:08
that I could pick up the phone tomorrow,

00:28:41:08 - 00:28:43:12
that I could get back on the horse pretty quickly

00:28:43:12 - 00:28:45:22
I was actually talking to someone
recently about, you know,

00:28:45:22 - 00:28:49:21
whether I would rather be the age
I am now, with the skills I’ve got now,

00:28:49:21 - 00:28:52:06
the knowledge I've got now,
and the money I've got now.

00:28:52:06 - 00:28:54:14
Or if I would give up the money I've got now

00:28:54:14 - 00:28:57:00
to rewind 10 or 15 or 20 years

00:28:57:00 - 00:28:58:18
and I didn't even have to think about the question.

00:28:58:18 - 00:29:02:06
I would give up the money in a
heartbeat to be 20 years younger

00:29:02:06 - 00:29:05:24
as long as I still had the same knowledge
and the same skills that I've got now.

00:29:05:24 - 00:29:07:15
Because the compounding effect

00:29:07:15 - 00:29:11:14
of those skills and knowledge
over time are absolutely priceless.

00:29:11:14 - 00:29:14:14
if I knew what I knew now, 20 years ago,

00:29:14:14 - 00:29:16:16
the mistakes I would have avoided,

00:29:16:16 - 00:29:18:15
the quicker paths I would have taken, you know

00:29:18:15 - 00:29:22:08
the route to making money, I mean,
I would have got so much more money,

00:29:22:08 - 00:29:25:16
so much younger and with
such a smoother journey.

00:29:25:16 - 00:29:28:18
It's your knowledge and it’s your skills
that are going to make you money.

00:29:28:18 - 00:29:30:03
What can you take away from this?

00:29:30:03 - 00:29:34:17
The key takeaway from this is always
be investing in yourself and doing as much

00:29:34:17 - 00:29:38:24
as possible to make your skill sets
as valuable as possible.

00:29:38:24 - 00:29:41:19
Learn as much as you can,
absorb as much as you can,

00:29:41:19 - 00:29:45:03
learn as many different things
in as many different areas as possible.

00:29:45:03 - 00:29:47:11
Because if you were to wake up
tomorrow with no money,

00:29:47:11 - 00:29:52:02
or if you were to be transported
to a foreign country or a desert island

00:29:52:02 - 00:29:55:10
and having to start from scratch,
you will be able to wake up tomorrow

00:29:55:10 - 00:29:58:22
and get to where you want to be
a lot quicker than you actually think.

00:29:58:22 - 00:30:01:03
And when you can do that, it
takes the worry out of things,

00:30:01:03 - 00:30:02:23
and that's a big inhibitor
for many people.

00:30:02:23 - 00:30:05:15
The fear, you know, the fear
of loss, the fear of failure.

00:30:05:15 - 00:30:08:18
But if you know, you can build it
again very quickly and from nothing,

00:30:08:18 - 00:30:10:10
Then that failure disappears

00:30:10:10 - 00:30:12:04
and you've got a whole new perspective on life.

00:30:14:18 - 00:30:16:02
Should you buy a house?

00:30:16:02 - 00:30:18:02
I guess by asking that question, you’re asking

00:30:18:02 - 00:30:20:07
if you should be buying a
house for yourself to live in.

00:30:20:07 - 00:30:22:14
Should you buy a house
or should you rent a house?

00:30:22:14 - 00:30:23:09
Great question.

00:30:23:09 - 00:30:27:01
And I think a lot of interesting ideas
and logic behind the answer.

00:30:27:01 - 00:30:28:07
For me it’s quite simple.

00:30:28:07 - 00:30:31:07
When you make any purchasing
decision, you know, purchasing

00:30:31:07 - 00:30:34:17
against rental, you've got to ask yourself
what is the opportunity cost?

00:30:34:17 - 00:30:38:11
What is the cost of buying something
compared to what you will be able

00:30:38:11 - 00:30:41:00
to do with that money
if you didn't buy that thing?

00:30:41:00 - 00:30:45:00
And that’s the same for a house,
for a car, for any asset really.

00:30:45:00 - 00:30:48:03
And I think really when it comes
to buying these personal possessions,

00:30:48:03 - 00:30:52:00
most people’s buying decisions
are never about financial logic

00:30:52:00 - 00:30:54:09
and are more about emotion and ego.

00:30:54:09 - 00:30:56:10
I think there's a probably
a very British thing

00:30:56:10 - 00:30:58:10
because, I mean, I know in America, for example,

00:30:58:10 - 00:31:02:09
you KNOW, people have been a lot more open
to renting houses, particularly

00:31:02:09 - 00:31:07:03
at higher levels, higher price values
on houses than we have in the UK.

00:31:07:03 - 00:31:09:21
And I think there's a real ego thing
about the fact that people feel

00:31:09:21 - 00:31:13:12
they must own their house
or they must own a car.

00:31:13:12 - 00:31:16:03
But really I think you just need
to look at these assets and say,

00:31:16:03 - 00:31:20:00
it’s not that you need to own a house or
own a car, you actually just need to use it.

00:31:20:00 - 00:31:21:12
As long as you get the use out of it.

00:31:21:12 - 00:31:23:22
Then what is the most cost
effective way of doing that?

00:31:23:22 - 00:31:25:20
So when you come to make the decision about

00:31:25:20 - 00:31:27:14
whether or not you should buy your house,

00:31:27:14 - 00:31:29:09
you need to be asking yourself the question,

00:31:29:09 - 00:31:32:20
what could you be doing with the
money if you didn't buy the house?

00:31:32:20 - 00:31:34:10
So when you buy that house, let's say,

00:31:34:10 - 00:31:37:03
pick whatever number we want,
it’s a £500,000 house.

00:31:37:03 - 00:31:40:20
That's probably going to need a
minimum of £100,000 deposit.

00:31:40:20 - 00:31:41:21
There's going to be stamp duty.

00:31:41:21 - 00:31:43:12
There's going to be legal costs.

00:31:43:12 - 00:31:46:10
There's going to probably be some
furniture and other bits and pieces.

00:31:46:10 - 00:31:49:00
Realistically, you know, for that £500,000 house,

00:31:49:00 - 00:31:52:01
you're probably going to have to
put £150,000 of capital into it.

00:31:52:01 - 00:31:54:09
You're going to be borrowing £350,000.

00:31:54:09 - 00:31:58:21
What is the cost of the mortgage
compared to what is it cost of the rent?

00:31:58:21 - 00:32:00:20
Is there a differential
in those two figures?

00:32:00:20 - 00:32:03:17
If one costs more than the other,
then that's the opportunity cost.

00:32:03:17 - 00:32:07:11
The £150,000 that you've put
down there as your deposit.

00:32:07:11 - 00:32:09:00
Okay, people may be saying to you,

00:32:09:00 - 00:32:12:20
Yeah but the house is going up
so that £150,000 is an investment.

00:32:12:20 - 00:32:14:22
But could you be
investing in a better way?

00:32:14:22 - 00:32:18:01
Could you be buying a higher
yielding buy to let property?

00:32:18:01 - 00:32:21:06
Or is there a business that
you could have invested it in

00:32:21:06 - 00:32:22:24
that's going to make you more money?

00:32:22:24 - 00:32:25:23
There's no right answer to
any of these questions.

00:32:25:23 - 00:32:28:14
It very much depends on
your personal circumstances

00:32:28:14 - 00:32:32:01
and, you know, where you are financially
and what you need to do with the money.

00:32:32:01 - 00:32:33:14
The really important thing to do is to

00:32:33:14 - 00:32:35:24
not to get emotionally attached to these decisions.

00:32:35:24 - 00:32:38:12
It's very British thing, it’s particularly a thing of

00:32:38:12 - 00:32:41:08
20, 30, 40, 50 years old- older.

00:32:41:08 - 00:32:44:04
The generations before us, you know,
your parents or grandparents,

00:32:44:04 - 00:32:45:14
you know, very much come from that view of,

00:32:45:14 - 00:32:48:00
you’ve got to get on the property ladder,
you've got to buy a house.

00:32:48:00 - 00:32:51:14
And that house buying decision
tends to come ahead of any other

00:32:51:14 - 00:32:56:01
financial decision, or financial logic
that people would tend to make.

00:32:56:01 - 00:33:00:08
And maybe buying that house for you
right now just isn't the right decision.

00:33:00:08 - 00:33:03:08
If you haven't started the business
yet that you want to start.

00:33:03:08 - 00:33:05:13
If you haven't got any
savings in your account,

00:33:05:13 - 00:33:08:06
if you haven't got a pension,
if you haven't got an ISA.

00:33:08:06 - 00:33:11:01
You know, some of these things
probably need considering

00:33:11:01 - 00:33:13:20
before you put every last
penny into buying a house.

00:33:13:20 - 00:33:16:15
Talking about that emotional
and ego factor of it,

00:33:16:15 - 00:33:18:18
I mean, I can tell you
from firsthand experience

00:33:18:18 - 00:33:20:03
I've actually rented

00:33:20:03 - 00:33:22:12
more of the personal
houses that I've lived in

00:33:22:12 - 00:33:24:06
than I've actually owned those houses.

00:33:24:06 - 00:33:26:12
For me, that's been a decision twofold.

00:33:26:12 - 00:33:28:21
One, that I would rather
have the capital available

00:33:28:21 - 00:33:30:10
for the businesses that I invest in.

00:33:30:10 - 00:33:33:24
When I lend money, when I invest
in businesses, I'm making annual returns

00:33:33:24 - 00:33:37:14
on my money of 20, 30, 40, 50 (%),
potentially even higher.

00:33:37:14 - 00:33:41:09
And I'm never, ever going to be getting
those kind of returns by buying and owning

00:33:41:09 - 00:33:42:10
the house that I live in.

00:33:42:10 - 00:33:44:17
So when capital is limited to me.

00:33:44:17 - 00:33:48:02
Then it doesn't make any sense for me
to put that capital into a house.

00:33:48:02 - 00:33:52:08
I want to be using it to aggressively
invest in investment opportunities,

00:33:52:08 - 00:33:54:01
in income producing opportunities.

00:33:54:01 - 00:33:55:08
Also, I like to travel.

00:33:55:08 - 00:33:56:09
I like to be flexible.

00:33:56:09 - 00:33:58:18
I often wake up tomorrow
and go, You know what?

00:33:58:18 - 00:34:00:23
I'm moving to Dubai
or I'm moving to Las Vegas

00:34:00:23 - 00:34:03:10
or I'm moving to Spain,
or many of the places I've lived in.

00:34:03:10 - 00:34:07:09
If I owned a house in whichever
country I was moving from

00:34:07:09 - 00:34:10:09
that's going to limit my ability
then for where I'm going to next.

00:34:10:09 - 00:34:13:09
Okay, people will say, Yeah, but you
can just sell that and buy a new house.

00:34:13:09 - 00:34:15:24
Buying and selling property
is a very expensive thing.

00:34:15:24 - 00:34:19:07
Every time you buy and sell,
legal fees, agents fees, the time

00:34:19:07 - 00:34:22:20
the time it takes to sell the house,
whether or not you get the right price

00:34:22:20 - 00:34:24:19
at the time that you're expecting.

00:34:24:19 - 00:34:27:18
If you own this asset and
you're wedded to this asset,

00:34:27:18 - 00:34:31:10
it might make you make decisions
in other areas of your life

00:34:31:10 - 00:34:32:12
that you didn't want to make.

00:34:32:12 - 00:34:34:02
Maybe you were put off moving

00:34:34:02 - 00:34:36:05
to another country when you
really want to make that move.

00:34:36:05 - 00:34:38:15
Maybe it will put you off
starting a business

00:34:38:15 - 00:34:39:23
when you really want
to start that business.

00:34:39:23 - 00:34:41:24
Just because you think
now is not the right time,

00:34:41:24 - 00:34:45:06
because you're wedded to these houses
that don't make financial sense

00:34:45:06 - 00:34:48:18
and are just purely there
for emotional and ego value.

00:34:48:18 - 00:34:49:16
So that's my advice.

00:34:49:16 - 00:34:51:00
Look at the opportunity cost.

00:34:51:00 - 00:34:54:00
Look at what you could be doing with
the money if you weren't buying the house.

00:34:54:00 - 00:34:57:20
But first and foremost, make sure that
whatever buying decisions you make,

00:34:57:20 - 00:34:59:19
whether it's for a house,
whether it's for a car,

00:34:59:19 - 00:35:03:12
whether it’s for any other asset,
make sure that those decisions are made

00:35:03:12 - 00:35:06:07
from financial logic and not ones of ego.

00:35:08:21 - 00:35:11:10
What is the easiest industry to make money in?

00:35:11:10 - 00:35:14:06
Let me tell you. The easiest
industry to make money in

00:35:14:06 - 00:35:16:09
is the one that you 
know the most about.

00:35:16:09 - 00:35:17:18
And really that is a very simple

00:35:17:18 - 00:35:19:04
answer to what I think

00:35:19:04 - 00:35:20:10
is a very simple question.

00:35:20:10 - 00:35:21:22
Normally, when people ask this

00:35:21:22 - 00:35:22:21
kind of a question,

00:35:22:21 - 00:35:25:10
they're asking it from a kind
of a position of laziness

00:35:25:10 - 00:35:27:09
because they don't
want to put the effort in

00:35:27:09 - 00:35:30:03
to learn about something themselves,
or they don't want to put the effort in

00:35:30:03 - 00:35:31:17
to battle through the hard times

00:35:31:17 - 00:35:34:02
in the business or the industry
that they're already involved in.

00:35:34:02 - 00:35:35:08
And they're asking a question like,

00:35:35:08 - 00:35:37:18
Oh, you know, I've heard crypto's really good,

00:35:37:18 - 00:35:39:01
How do I make money in crypto?

00:35:39:01 - 00:35:40:14
Or I’ve heard property is good or

00:35:40:14 - 00:35:42:03
social media marketing is good or

00:35:42:03 - 00:35:44:12
whatever that flavour of the month business is.

00:35:44:12 - 00:35:45:14
There’s an expression that,

00:35:45:14 - 00:35:48:04
‘everybody's business is better than your own’.

00:35:48:04 - 00:35:49:09
And that's because that's what business

00:35:49:09 - 00:35:50:20
owners feel, because you always think

00:35:50:20 - 00:35:52:20
in your own business
you've got so many problems.

00:35:52:20 - 00:35:55:04
You say, Oh, I hate this business,
this is a problem.

00:35:55:04 - 00:35:55:18
That's a problem.

00:35:55:18 - 00:35:56:22
What he's doing is so easy.

00:35:56:22 - 00:35:58:04
I'd love to be in that business.

00:35:58:04 - 00:36:01:03
The reality is every business
is full of its own problems

00:36:01:03 - 00:36:03:12
its own set of kind of unique intricacies.

00:36:03:12 - 00:36:04:20
And until you're in that business,

00:36:04:20 - 00:36:06:05
you'll never really appreciate it

00:36:06:05 - 00:36:07:20
and you'll never really
know what they are.

00:36:07:20 - 00:36:10:08
Just like the expression,
the grass isn’t greener on the other side.

00:36:10:08 - 00:36:11:24
It's just the same thing in business.

00:36:11:24 - 00:36:13:12
I think if you found a business

00:36:13:12 - 00:36:15:14
that you like
and that you know something about,

00:36:15:14 - 00:36:16:21
the best way to make money

00:36:16:21 - 00:36:18:01
is to stick with that business,

00:36:18:01 - 00:36:21:02
to stick with that industry,
and to learn more, to double down.

00:36:21:02 - 00:36:23:14
Go with the reasons
why you got into it in the first place.

00:36:23:14 - 00:36:24:22
If you're not in business at the moment

00:36:24:22 - 00:36:26:07
anyway and you're looking for a business

00:36:26:07 - 00:36:29:02
to get into, then maybe it's
a slightly different kind of question.

00:36:29:02 - 00:36:31:19
But I would always say
the best business to get into

00:36:31:19 - 00:36:34:05
is the one that you're going to love
and that you're going to enjoy.

00:36:34:05 - 00:36:35:17
Because to make money in anything,

00:36:35:17 - 00:36:36:22
you're going to have to commit

00:36:36:22 - 00:36:38:20
many, many hours and weeks

00:36:38:20 - 00:36:41:06
and months and years of probably losses

00:36:41:06 - 00:36:43:21
and pain before you get the
fun times and the profit.

00:36:43:21 - 00:36:45:08
And you're only going to sustain that

00:36:45:08 - 00:36:46:19
if you're enjoying what you're doing.

00:36:46:19 - 00:36:49:21
You know, I could say to you,
finance is the best business in the world

00:36:49:21 - 00:36:51:02
because that’s made me a load money.

00:36:51:02 - 00:36:54:00
But if you don't like it, you're
not going to spend the time

00:36:54:00 - 00:36:55:17
to learn what you need to learn, and you're

00:36:55:17 - 00:36:57:06
not going to get to where you need to be.

00:36:57:06 - 00:36:59:09
Very few people make money

00:36:59:09 - 00:37:01:14
very quickly in any business.

00:37:01:14 - 00:37:03:02
Yes, on Instagram nowadays

00:37:03:02 - 00:37:05:02
we see these overnight successes,

00:37:05:02 - 00:37:07:04
but none of them are
really overnight successes.

00:37:07:04 - 00:37:10:02
The years and years and years
that goes on behind the scenes

00:37:10:02 - 00:37:12:10
are never once talked about
it, are never once shown.

00:37:12:10 - 00:37:14:18
But that happens in every single business.

00:37:14:18 - 00:37:16:00
Nowadays, you know,

00:37:16:00 - 00:37:17:03
obviously the advent

00:37:17:03 - 00:37:18:14
of the of the Internet,

00:37:18:14 - 00:37:20:13
 of.. you know, the fact that it's so easy

00:37:20:13 - 00:37:22:13
to access people all over the world

00:37:22:13 - 00:37:25:21
gives the ability to scale very
quickly in online businesses.

00:37:25:21 - 00:37:27:20
And that's an obvious choice

00:37:27:20 - 00:37:31:01
if you need to reach a
mass market very quickly.

00:37:31:01 - 00:37:33:02
And that's probably
a route to profitability

00:37:33:02 - 00:37:34:18
and to making money for a lot of people.

00:37:34:18 - 00:37:37:09
But again, if online businesses, digital media,

00:37:37:09 - 00:37:38:20
if technology isn't your thing,

00:37:38:20 - 00:37:40:08
then it's not going to be a successful

00:37:40:08 - 00:37:41:20
or profitable route for you.

00:37:41:20 - 00:37:44:02
So when you're asking the question,
what is the best business

00:37:44:02 - 00:37:46:22
to make money in quickly? Just decide
why you're asking that question.

00:37:46:22 - 00:37:48:07
Is it because you’re trying to be lazy?

00:37:48:07 - 00:37:49:12
and if you are,

00:37:49:12 - 00:37:51:08
then just have another
look at what you're doing now.

00:37:51:08 - 00:37:54:00
Maybe it's time to double down
on it and put more effort in

00:37:54:00 - 00:37:56:12
because you did pick that business
for a reason in the first place.

00:37:56:12 - 00:37:58:03
Maybe you're just having a bad time,

00:37:58:03 - 00:38:00:01
suffering bad circumstances.

00:38:00:01 - 00:38:01:12
But you know, the fundamentals of why

00:38:01:12 - 00:38:03:00
you got involved in the first place

00:38:03:00 - 00:38:04:07
potentially haven't changed.

00:38:06:21 - 00:38:09:00
Am I buying NFTs at the moment?

00:38:09:00 - 00:38:11:03
No, I'm not buying NFTs at the moment.

00:38:11:03 - 00:38:13:11
That's not because it’s right
or wrong to buy them.

00:38:13:11 - 00:38:15:22
The reason I'm not buying them
is because I haven't got enough

00:38:15:22 - 00:38:17:04
knowledge right now to be able

00:38:17:04 - 00:38:19:04
to make the right buying decisions.

00:38:19:04 - 00:38:20:16
I talk a little bit about crypto

00:38:20:16 - 00:38:24:05
and you know, for anyone who watches
or listens to me regularly will know,

00:38:24:05 - 00:38:25:06
I've got some Bitcoin,

00:38:25:06 - 00:38:27:20
I've got some Ethereum,
and I spent quite a lot of time learning

00:38:27:20 - 00:38:29:10
about both of those two coins

00:38:29:10 - 00:38:31:03
and I will be holding them for the long term.

00:38:31:03 - 00:38:32:24
I started to look into NFTs

00:38:32:24 - 00:38:34:04
and to be honest, I'm so busy

00:38:34:04 - 00:38:36:07
with so many other areas of my life and business,

00:38:36:07 - 00:38:38:15
that I haven't had a chance to be able

00:38:38:15 - 00:38:41:06
to kind of get deep enough and
get knowledgeable enough.

00:38:41:06 - 00:38:42:23
And for me that's so important.

00:38:42:23 - 00:38:44:22
Again, if you listen to much of what I say,

00:38:44:22 - 00:38:46:07
I'll always talk about the importance

00:38:46:07 - 00:38:47:18
of learning as much as you can

00:38:47:18 - 00:38:51:18
and making decisions based
from sound logic and knowledge

00:38:51:18 - 00:38:52:24
as opposed to just following

00:38:52:24 - 00:38:54:10
the latest fad that you’ve read

00:38:54:10 - 00:38:56:06
about on the Internet or in a magazine

00:38:56:06 - 00:38:57:23
or heard from the guys down the pub.

00:38:57:23 - 00:39:00:13
You may make little bits of
quick money in the short term,

00:39:00:13 - 00:39:03:03
but I promise you over time,
if you don't know

00:39:03:03 - 00:39:05:02
what you're talking about,
you are going to lose money.

00:39:05:02 - 00:39:06:15
And it's no different to gambling.

00:39:06:15 - 00:39:07:23
So I'm not there yet.

00:39:07:23 - 00:39:09:07
Don't know what I'm talking about.

00:39:09:07 - 00:39:10:13
But one thing I would say,

00:39:10:13 - 00:39:12:22
just as I guess, a piece of general logic

00:39:12:22 - 00:39:14:01
or strategy in general

00:39:14:01 - 00:39:16:22
is if I was going to buy any NFT right now,

00:39:16:22 - 00:39:18:08
I would be buying a Bored Ape.

00:39:18:08 - 00:39:20:02
Now, that's not because, again,

00:39:20:02 - 00:39:21:09
I particularly know enough

00:39:21:09 - 00:39:22:19
to think that these are going to go up.

00:39:22:19 - 00:39:25:09
But what I know that a Bored Ape is,

00:39:25:09 - 00:39:27:21
it’s a status symbol, it’s a membership in a

00:39:27:21 - 00:39:29:01
in a special club.

00:39:29:01 - 00:39:30:19
And for the way I do business, you know,

00:39:30:19 - 00:39:32:10
for the kind of circles that I live in,

00:39:32:10 - 00:39:35:17
those status symbols are
very, very good door openers.

00:39:35:17 - 00:39:37:01
You know, when you’re sat down

00:39:37:01 - 00:39:39:19
with the right people
and you have a Patek Philippe watch

00:39:39:19 - 00:39:42:00
or you drive a Bugatti or, you know,

00:39:42:00 - 00:39:43:10
you have a particular piece

00:39:43:10 - 00:39:45:03
of property in a particular area.

00:39:45:03 - 00:39:48:03
Rightly or wrongly,
it gives that that perception

00:39:48:03 - 00:39:49:14
of you, that status symbol,

00:39:49:14 - 00:39:51:01
and can open more doors

00:39:51:01 - 00:39:52:24
than you may have been able to open without it.

00:39:52:24 - 00:39:55:08
And my belief is that a
Bored Ape does the same thing.

00:39:55:08 - 00:39:57:11
Maybe more in the crypto world

00:39:57:11 - 00:39:59:14
than in the Non-crypto world for now.

00:39:59:14 - 00:40:01:09
But I think, you know, the knowledge of it

00:40:01:09 - 00:40:03:08
is getting further and wider.

00:40:03:08 - 00:40:05:11
So I think at some point
I will be buying one.

00:40:05:11 - 00:40:07:17
Whether or not I'll know
enough about NFTs in general

00:40:07:17 - 00:40:10:11
then to want to get deeper
into NFTs or not, I don't know.

00:40:10:11 - 00:40:12:07
I think even without an NFT knowledge

00:40:12:07 - 00:40:14:08
I know that I could probably
get some good value

00:40:14:08 - 00:40:15:11
from having a Bored Ape.

00:40:17:24 - 00:40:19:22
What's the morning
routine of a millionaire?

00:40:19:22 - 00:40:22:04
Look, I don't like questions about morning routines

00:40:22:04 - 00:40:24:19
because I think they're been asked by people who

00:40:24:19 - 00:40:28:03
who want to try and find a quick fix
to a solution as opposed to actually

00:40:28:03 - 00:40:31:00
putting in the effort to have that long term success.

00:40:31:00 - 00:40:33:20
I don't believe there is any
morning routine for a millionaire.

00:40:33:20 - 00:40:35:09
You go and ask ten different millionaires

00:40:35:09 - 00:40:36:17
what their morning routine is.

00:40:36:17 - 00:40:39:04
I guarantee you, you're going
to get ten different answers.

00:40:39:04 - 00:40:41:11
I think this question is asked because

00:40:41:11 - 00:40:43:14
I go on Instagram on social media.

00:40:43:14 - 00:40:46:02
People will see someone like Tony Robbins,

00:40:46:02 - 00:40:47:11
you know, jumping in an ice bath

00:40:47:11 - 00:40:48:21
at 4:00 in the morning.

00:40:48:21 - 00:40:52:09
Or, you know, so-
some other millionaire or multi,

00:40:52:09 - 00:40:53:10
multi millionaire

00:40:53:10 - 00:40:55:15
doing something that probably involves

00:40:55:15 - 00:40:57:14
something cold, something early

00:40:57:14 - 00:40:59:15
and something that probably hurts your body.

00:40:59:15 - 00:41:02:04
And they attribute their success in life

00:41:02:04 - 00:41:04:05
to those, you know, one, two or three things.

00:41:04:05 - 00:41:05:15
And I think that's a load of bollocks.

00:41:05:15 - 00:41:06:22
Everybody's different.

00:41:06:22 - 00:41:09:19
Everybody's body is different,
everybody's mind is different.

00:41:09:19 - 00:41:11:17
There's a big focus nowadays about,

00:41:11:17 - 00:41:13:15
you know, being up super early

00:41:13:15 - 00:41:15:05
to get ahead of the game, to kind of

00:41:15:05 - 00:41:17:00
get a march on your competitors.

00:41:17:00 - 00:41:18:21
And whilst there's a degree of logic to that.

00:41:18:21 - 00:41:23:01
I think it nowadays probably comes
more from a position of machoism

00:41:23:01 - 00:41:25:06
than, you know, a position of true logic.

00:41:25:06 - 00:41:27:18
I mean, yes, you're going to struggle to be successful

00:41:27:18 - 00:41:29:02
if you're rotting around in bed

00:41:29:02 - 00:41:30:22
till 11 or 12:00 every day,

00:41:30:22 - 00:41:32:14
spending the afternoon watching telly,

00:41:32:14 - 00:41:34:03
and spending the evening getting drunk.

00:41:34:03 - 00:41:35:22
But there becomes a point,

00:41:35:22 - 00:41:38:03
almost like the point of diminishing returns

00:41:38:03 - 00:41:40:00
of maybe getting up too early

00:41:40:00 - 00:41:41:08
is going to hamper your progress.

00:41:41:08 - 00:41:42:13
I can't rot in bed all day

00:41:42:13 - 00:41:44:07
and I do need to get up semi early.

00:41:44:07 - 00:41:47:10
You know, I try and get up in the morning at 7-7:30.

00:41:47:10 - 00:41:49:13
But a lot of people say that’s super late

00:41:49:13 - 00:41:52:20
because they've been up at 4 a.m., 4:30 a.m, 5 a.m.

00:41:52:20 - 00:41:54:18
and they've got two or three hour march on me.

00:41:54:18 - 00:41:56:03
I'm just not a morning person.

00:41:56:03 - 00:41:58:01
If I'm getting up at 5:00 every morning,

00:41:58:01 - 00:42:00:01
come lunchtime, I'm going to be ready for bed again.

00:42:00:01 - 00:42:01:23
I do my best work in the afternoon.

00:42:01:23 - 00:42:04:06
My particular lifestyle, you know,

00:42:04:06 - 00:42:05:23
the way I do business, involves

00:42:05:23 - 00:42:07:17
a lot of lunches, a lot of dinners,

00:42:07:17 - 00:42:08:24
and I’m typically up late.

00:42:08:24 - 00:42:10:11
So it's just not feasible for me

00:42:10:11 - 00:42:13:05
to be up until midnight, 1:00, 2:00 in the morning,

00:42:13:05 - 00:42:14:15
and then getting up at 4:00, 5:00,

00:42:14:15 - 00:42:16:11
6:00 in the morning. I'm going to be dead.

00:42:16:11 - 00:42:19:05
I feel pretty tired as it is getting up at 7:00, 7:30.

00:42:19:05 - 00:42:20:04
But that's just one example.

00:42:20:04 - 00:42:22:22
Again, you'll find people who say
when you get up in the morning,

00:42:22:22 - 00:42:24:16
make sure you don't even
look at your telephone.

00:42:24:16 - 00:42:25:20
Keep it to one side.

00:42:25:20 - 00:42:28:05
Don't go on social media,
don't respond to emails

00:42:28:05 - 00:42:30:20
and cleanse your mind for another
hour while you're waking up.

00:42:30:20 - 00:42:32:22
Again, some people probably get benefit from that.

00:42:32:22 - 00:42:33:23
I personally don't.

00:42:33:23 - 00:42:36:03
As soon as I wake up,
I like to jump on my phone

00:42:36:03 - 00:42:38:00
and it's not because it's frazzling the head.

00:42:38:00 - 00:42:39:21
Work is my interest, so

00:42:39:21 - 00:42:41:11
I want to be looking at my WhatsApp messages.

00:42:41:11 - 00:42:43:20
I want to be looking at my emails
and I want to be dealing with them

00:42:43:20 - 00:42:45:04
while I'm moving around the house.

00:42:45:04 - 00:42:46:10
I go to the gym in the morning.

00:42:46:10 - 00:42:48:06
Now, I go to the gym in the morning

00:42:48:06 - 00:42:49:18
because I prefer to do that

00:42:49:18 - 00:42:51:12
than in the afternoon or in the evening.

00:42:51:12 - 00:42:53:05
I think it makes me feel fresh

00:42:53:05 - 00:42:55:17
and kind of invigorated for the day ahead.

00:42:55:17 - 00:42:58:13
But also one of the main reasons
I like to do it in the morning

00:42:58:13 - 00:43:00:21
is because if my day goes on and on and on,

00:43:00:21 - 00:43:03:18
then I know come the evening,
I'm probably going to be too tired.

00:43:03:18 - 00:43:06:13
And when I used to do
work- workouts in an evening,

00:43:06:13 - 00:43:08:07
I would actually find myself missing them

00:43:08:07 - 00:43:09:16
more and more and more frequently,

00:43:09:16 - 00:43:11:20
because I’d come home after a stressful day at work

00:43:11:20 - 00:43:13:12
and I put my feet up for half an hour.

00:43:13:12 - 00:43:15:14
And half an hour becomes an hour, becomes 2 hours.

00:43:15:14 - 00:43:17:17
And the next thing you know,
it’s too late to go to the gym.

00:43:17:17 - 00:43:20:19
Again, as anyone who listens to me
or watches me regularly knows,

00:43:20:19 - 00:43:22:24
fitness is something I believe in very strongly.

00:43:22:24 - 00:43:25:00
It's a massive part of my- my routine,

00:43:25:00 - 00:43:26:15
and I believe that you can't be

00:43:26:15 - 00:43:30:14
successful in life or you can't be
at your peak performance in business

00:43:30:14 - 00:43:31:22
unless you've got your body

00:43:31:22 - 00:43:33:08
in some kind of shape as well.

00:43:33:08 - 00:43:35:06
So exercise is truly important to me

00:43:35:06 - 00:43:37:11
and therefore it makes sense for me to have it

00:43:37:11 - 00:43:38:22
as part of my morning routine.

00:43:38:22 - 00:43:41:14
But you've all got your own
morning routines in the same way

00:43:41:14 - 00:43:43:02
some millionaires are going to tell you

00:43:43:02 - 00:43:47:23
that smoked salmon and scrambled
eggs cooked at 17 degrees for 43 seconds

00:43:47:23 - 00:43:49:11
is how they get up in the morning.

00:43:49:11 - 00:43:50:18
And that's how they make their money.

00:43:50:18 - 00:43:52:18
But again, is that why they make theIR money?

00:43:52:18 - 00:43:55:02
No, it's not.
That’s just something they do.

00:43:55:02 - 00:43:57:20
You'll find someone equally,
if not more successful than them,

00:43:57:20 - 00:44:00:17
who gouges on chocolate croissants at 11:00.

00:44:00:17 - 00:44:03:04
There's no right morning routine for a millionaire.

00:44:03:04 - 00:44:05:03
There is only the right morning routine for you,

00:44:05:03 - 00:44:07:09
but just apply common sense and logic to it.

00:44:07:09 - 00:44:09:05
You don't need to be at 4:00 in the morning,

00:44:09:05 - 00:44:11:02
but you also can't rot it- rot in bed until

00:44:11:02 - 00:44:12:16
11:00 or 12:00 in the afternoon.

00:44:12:16 - 00:44:13:16
Do what makes sense.

00:44:13:16 - 00:44:15:01
Do what makes you feel good

00:44:15:01 - 00:44:17:21
Do what makes you perform at your optimum.

00:44:20:10 - 00:44:22:03
If you want to get attention in business,

00:44:22:03 - 00:44:23:13
then you need to stand out.

00:44:23:13 - 00:44:24:22
And if you want to stand out,

00:44:24:22 - 00:44:26:08
then you need to be different.

00:44:26:08 - 00:44:27:19
You need to be doing things

00:44:27:19 - 00:44:28:20
that are different

00:44:28:20 - 00:44:30:07
to what everybody else is doing.

00:44:30:07 - 00:44:31:15
Especially different to what

00:44:31:15 - 00:44:32:21
your competitors are doing.

00:44:32:21 - 00:44:34:17
The world is awash

00:44:34:17 - 00:44:37:09
with people producing the same kind of content,

00:44:37:09 - 00:44:39:05
the same kind of marketing material

00:44:39:05 - 00:44:41:09
and everything just gets lost.

00:44:41:09 - 00:44:42:18
So if you want to be different,

00:44:42:18 - 00:44:44:22
then you need to find a reason to be different.

00:44:44:22 - 00:44:47:14
You need to have your personality shine through.

00:44:47:14 - 00:44:49:06
You need to have core values

00:44:49:06 - 00:44:50:24
that are different to everybody else.

00:44:50:24 - 00:44:53:10
And I think as a general piece of advice to, you know,

00:44:53:10 - 00:44:56:02
to business owners looking
to create marketing material,

00:44:56:02 - 00:44:57:15
I think it's very important

00:44:57:15 - 00:44:59:24
that you have a big hand in this yourself.

00:44:59:24 - 00:45:01:20
Far too often when it comes to

00:45:01:20 - 00:45:04:21
brand creation, when it comes to marketing ideas,

00:45:04:21 - 00:45:08:03
businesses hand them over to marketing agencies

00:45:08:03 - 00:45:09:11
and just think, Oh well, they must know

00:45:09:11 - 00:45:11:18
what they're talking about
because they are a marketing agency.

00:45:11:18 - 00:45:13:00
But I find that,

00:45:13:00 - 00:45:14:04
you know, more often than not,

00:45:14:04 - 00:45:15:11
these marketing agencies

00:45:15:11 - 00:45:17:22
are actually probably too scared

00:45:17:22 - 00:45:21:03
to do something that is going to stand out

00:45:21:03 - 00:45:22:15
because they think that they,

00:45:22:15 - 00:45:24:14
you know, they may get looked on weirdly

00:45:24:14 - 00:45:26:24
or it's wrong for your business

00:45:26:24 - 00:45:28:06
or it's wrong for your brand.

00:45:28:06 - 00:45:29:12
Nobody knows your business

00:45:29:12 - 00:45:31:10
and nobody knows your brand like you do.

00:45:31:10 - 00:45:32:06
And I always say that

00:45:32:06 - 00:45:35:06
the key word in personal brand is personal.

00:45:35:06 - 00:45:37:12
And, you know, when you hand over your own brand

00:45:37:12 - 00:45:38:24
to somebody to outsource

00:45:38:24 - 00:45:40:17
and they create content for you,

00:45:40:17 - 00:45:42:01
you know, whether that's writing

00:45:42:01 - 00:45:44:11
LinkedIn thought leadership posts

00:45:44:11 - 00:45:46:00
or writing posts for you

00:45:46:00 - 00:45:47:21
on Instagram or whatever it may be,

00:45:47:21 - 00:45:49:24
you read them and you know that's not truly you.

00:45:49:24 - 00:45:51:09
You need to do this yourself.

00:45:51:09 - 00:45:52:21
You need to take control of this

00:45:52:21 - 00:45:55:06
and let your personality, let your ideas,

00:45:55:06 - 00:45:58:02
let your brand value shine through.

00:45:58:02 - 00:45:59:09
Now I'm not talking about being different

00:45:59:09 - 00:46:00:18
for the sake of being different

00:46:00:18 - 00:46:02:00
or doing something

00:46:02:00 - 00:46:04:14
provocative just for the sake of being provocative.

00:46:04:14 - 00:46:06:15
If you can be different and provocative

00:46:06:15 - 00:46:08:06
for the right reasons, then yeah,

00:46:08:06 - 00:46:09:22
I’m absolutely all for it.

00:46:09:22 - 00:46:12:06
But make sure it still kind of aligns

00:46:12:06 - 00:46:13:12
with the rest of your business.

00:46:13:12 - 00:46:15:22
I mean, just as an example
of that, I actually recently

00:46:15:22 - 00:46:17:14
was talking to a marketing agency

00:46:17:14 - 00:46:18:24
who wanted to do some work with me.

00:46:18:24 - 00:46:20:12
And one of the first things they said is,

00:46:20:12 - 00:46:21:22
We need to change

00:46:21:22 - 00:46:24:11
some of your public bits of personality,

00:46:24:11 - 00:46:25:21
some of your public content,

00:46:25:21 - 00:46:28:08
because we think the image you give

00:46:28:08 - 00:46:30:19
across isn't right for a business owner,

00:46:30:19 - 00:46:32:20
for a guy working in finance, etc..

00:46:32:20 - 00:46:34:04
And what they're talking about is, you know,

00:46:34:04 - 00:46:36:05
pictures of my arse on Kilimanjaro

00:46:36:05 - 00:46:39:00
or hanging half naked off the
back of a boat or something.

00:46:39:00 - 00:46:40:21
And I completely disagree with that.

00:46:40:21 - 00:46:42:02
Now listen, what I'm saying there is

00:46:42:02 - 00:46:43:24
I get that those pictures

00:46:43:24 - 00:46:45:13
and those posts aren't for everyone

00:46:45:13 - 00:46:46:18
and that some people

00:46:46:18 - 00:46:48:24
will maybe find my posts

00:46:48:24 - 00:46:51:19
or my personality inappropriate or offensive

00:46:51:19 - 00:46:53:05
or whatever that may be.

00:46:53:05 - 00:46:54:10
They may not get me,

00:46:54:10 - 00:46:55:23
they may not gel with me.

00:46:55:23 - 00:46:58:01
But what's really important to know

00:46:58:01 - 00:46:59:15
is that, you know, what you see

00:46:59:15 - 00:47:00:24
on my social media

00:47:00:24 - 00:47:03:19
is what you get if you saw me in real life.

00:47:03:19 - 00:47:05:05
So I always say, look, if you don't like me

00:47:05:05 - 00:47:07:11
on social media, you’re
not gonna like me in real life.

00:47:07:11 - 00:47:08:21
And if you don't like me in real life,

00:47:08:21 - 00:47:10:10
we're not going to be
doing any business together.

00:47:10:10 - 00:47:11:21
So why the fuck do I care anyway?

00:47:11:21 - 00:47:13:07
I think you need to take that logic

00:47:13:07 - 00:47:14:22
and apply that to your businesses.

00:47:14:22 - 00:47:16:09
Don't let anybody else

00:47:16:09 - 00:47:18:10
tell you who you should or shouldn't be.

00:47:18:10 - 00:47:20:00
Because even for the people

00:47:20:00 - 00:47:21:10
who look at my posts

00:47:21:10 - 00:47:24:01
and think, Oh, that's a bit cheeky,
or I wouldn’t be doing that.

00:47:24:01 - 00:47:25:16
Believe me, they still remember them.

00:47:25:16 - 00:47:28:10
It still stands out more than it would

00:47:28:10 - 00:47:30:02
with somebody doing something normal.

00:47:30:02 - 00:47:32:19
Just, you know, another typical post of a person

00:47:32:19 - 00:47:34:23
sat there with a laptop going,

00:47:34:23 - 00:47:36:09
Here's my office for the day again.

00:47:36:09 - 00:47:38:05
I mean, how many posts like that have you seen?

00:47:38:05 - 00:47:39:21
They just get lost and lost and lost.

00:47:39:21 - 00:47:41:15
If you see my arse on LinkedIn,

00:47:41:15 - 00:47:43:07
believe me, you’re gonna remember it

00:47:43:07 - 00:47:45:01
because there aren't many arses on LinkedIn.

00:47:45:01 - 00:47:46:16
And that will then jog your memory

00:47:46:16 - 00:47:48:01
to want to do some business with me.

00:47:48:01 - 00:47:50:05
If you want to get attention,
you've got to stand out.

00:47:50:05 - 00:47:52:00
You want to stand out,
you've got to be different.

00:47:52:00 - 00:47:54:00
What can you be doing that's different?

00:47:54:00 - 00:47:55:12
That your competitors aren't doing,

00:47:55:12 - 00:47:56:16
that your peers aren't doing,

00:47:56:16 - 00:47:58:04
and is going to make people remember you.

00:47:58:04 - 00:48:00:06
There's only one thing worse
than being talked about,

00:48:00:06 - 00:48:01:16
and that's not being talked about at all.