Transcription
Point 12. I've said this already, about to say it again. I've been over this, but I'm going to stress it. Like I said, some of these points are going to overlap a little bit because of the way I explain things off the top of my head because I'm a [ __ ] genius. I don't need to sit there and script this out.
You can't [ __ ] up if you don't spend money. This is key. It's very hard to [ __ ] up if you don't spend money. Now, if you have a very successful business and you're sitting on lots of money and you don't upgrade your business and then you go out of business, that's a [ __ ] up. You should have spent money. Yes, if you're a Blockbuster and you are sitting waiting people to rent videos and you didn't invest in a streaming service like Netflix and you got a business, yeah, you [ __ ] up. You should have spent money.
But at the beginning of a company, as a hustler, if you don't spend money, it's very hard to [ __ ] up. 99% of business fuck-ups are: "I spent cash and I can't get it back." "I spent cash and I lost it." "I spent cash and now I don't have enough cash." If you don't spend it, it's very difficult to [ __ ] up.
And this is why being broke is so liberating. I was happier starting businesses when I was broke. If you're watching this and you're broke and you're living at home with your mom, you are lucky. If everything goes wrong, you still have somewhere to sleep. You're still going to eat. You have not worried about a mortgage payment. You ain't going to worry about a car payment. If everything [ __ ] up, you're still okay.
If you're in a position where you're semi-successful, you have a BMW and an apartment, now you can't afford to [ __ ] up. You're gonna lose everything. This is the point. So if you're not successful, things are even better. But spending money is the easiest way to go wrong. If you don't blow money, it's very hard to [ __ ] up.
And that's why we go back to the way I teach you to start businesses for nearly for free. Don't spend money. If you're going to spend money, spend on what you're spending on here: knowledge, information. I'm gonna save you thousands, hundreds of thousands for what you've got this course for. But in general, I see people and they're so happy to spend money. Don't spend your money because it's very hard to [ __ ] up if you're not spending money.
If you've got a hustle, it doesn't matter what it is, and it's bringing money in, yeah, and you're not spending money all the time, you'll be okay. Now, I'm not saying be tight. I'm not saying don't invest. I'm not saying be stingy. I'm not saying any of that. I'm saying be careful and think, "Do I need to spend this money right now?" And when you were to decide if you're going to spend money or not, the question is, is it going to make me more money?
So let's take our makeup brand. You have your makeup brand. I chose makeup because I don't know anything about makeup because I'm a man, so it's just a general thing. You have your makeup brand, you have your website, you're doing some advertising, you've got a few YouTubers, makeup YouTubers using your products, and you're doing some advertising. You're bringing in money, right? You're bringing money right now. You're all working from home. You're from home. You've got boxes around your bedroom. You're working on a laptop. You're making money.
Now you have some money. You can spend. How do you spend that money? I'm asking you. I already know the answer. The answer is, you spend the money in a way that will bring more money in. So let's say you're semi-successful now. You may sit and think, "Well, I want an office now. I need to get an office." No, you want an office, you don't need an office. You're making money without an office. Setting up an office, is that going to bring in more orders? How will you be in all, how is you being in an office when the website's exactly the same going to bring in more orders? It's not. It's not going to change anything.
If you spend that money on more YouTubers talking about your products, you'll bring in more money. Only spend money if it's going to directly, if you can see the clear path to how it's going to lead to more money in, or don't spend it. Too many people [ __ ] up because they just go, "Oh yeah, let me invest in, oh, I need an office," or "We need to." I have this all the time with people all the time. I get approached with this all the time. "You need a back end [ __ ] back end." All the time. "You need to spend."
I get, I'll go, it's only two days ago, fifteen thousand euro. He wanted to build me this super back end because I have the War Room, which is all run on Telegram, and all these bots. So when someone buys a product, automatically links to their Telegram ID, automatically adds them in and out the War Room, checks what other products they have, links them into the right rooms in the War Room, blah, blah, blah, blah, blah. And I'm sitting there going, "Okay, I see how that would be useful, a huge, very complicated technical back end, but I don't see how that's going to bring more people in the front."
I'm a millionaire. He wants 15 grand, which is nothing. I don't see how me having all this fancy [ __ ] behind my website at this current stage, maybe at a later date, is going to make more people buy from my website. So why do I need it? All I need is people to buy. I don't need this back end [ __ ] back end, this big huge back end for money that may speed up things once they've already purchased. But right now, I'm doing everything manually with staff, and the staff are competent, and it's getting done. It's fine. So why do I need to spend this money? It goes against my business principles.
When someone explains to me how this back end will convince more people at the front end to buy, then I'll be interested. But until then, if I'm going to spend 15 grand, I'm going to spend on bringing more people in the front door. Now, if I get overloaded and there's no possible way I can deliver on my products, I'll buy the back end. But until that happens, I am only interested in one thing: money in.
What's the other lessons I taught you in the first two, the first 10 lessons? One of the lessons was, what? What's a business? A business is this. This is a business. This, oh, is a website ain't a business. Money in the bank ain't a business. A back end ain't a business. The only thing that's a business is this: orders coming in. That is a business. The rest of it is [ __ ] fulfillment. This is your focus. As long as you have this, you will be okay.
T2 succeeded for a year, and it would have been for many years because of this. As long as you have this, nothing will go wrong. If this goes, you're [ __ ]. You can have the best website, the best cash reserves, and the best back end in the world. If no one's ordering, you're gonna go out of business. If you have lots of orders, no cash reserves, and no back end, but people are buying and buying and buying, you've got a business. This is it. This is your focus.
If you're going to spend money, it has to directly lead to this. Don't fall for the geek [ __ ]. Especially with the War Room. I've had so many people come at me and go, "Oh, and it's going to be a program." "I'm just going to geek [ __ ] programming." Blah, blah, blah. And very interesting. I understand why that sounds like something I need, but I don't see how it's going to convince more people to join the War Room. People join the War Room because I'm me, and I give value. That's why they joined the War Room. And manually, I make sure everyone ends up where they need to be, and it's fine.
You could argue that this might speed things up, and that's going to go back to number one: speed. This is going to speed things up, giving my staff more time. But I already do my staff time equation. Remember, staff time saving. I'm very happy with the amount of time that's being saved in my money. Each member of staff's making me. I have a good equation right now for my staff that doesn't need adjusting. My staff are all fantastic. Everyone I work with is G. So I don't need to invest a bunch of money. Plus, it's probably have a bunch of teething problems and not work properly anyway.
So the point is, if you're going to spend money, be careful. And if you're going to spend money, you need to see a clear link to how it's going to bring more money in. Nothing else. This is your business. Nothing else is your business. The rest is [ __ ].