Transcription
You're one of Dan Pena's star students.
I couldn't even afford to drive to Melbourne, two hours away. Three months later, I'm on a plane going to Scotland for two weeks to stay in a castle with a billionaire. The way my life changed, I can't even explain it. Bought a business for, uh, 2.4 million and over-financed at 100 grand. There are billionaires using the exact same method that I'm using. If you can learn to leverage people's credibility and people's money, you're going to make it.
So, you're buying a non-cash-flowing business?
Yeah, but just hear me out. A lot of people think that the person at the head of a company is some amazing, intelligent human being. It's like, no, they're probably dumber than you. If you have a vision and if you take action on that vision and if you're consistent and disciplined, it's going to happen.
You're like a no-excuse dude.
There are no excuses. There are solutions to every single problem. Every single one.
What biggest shift did your mindset have to make in order to put you in a position where this is now reality?
Funny story, right? Tight. What it is? Brad Lee back again with another episode of Dropping Bombs. Today, in the real studio, I've got a real treat for you. Christian Daws in the house. Is it Daws?
It's Doors.
Doors.
This bloke grew up in Victoria, Australia. Had a dysfunctional family life growing up. Tell me about that.
Um, so to summarize that, my old man was in Hridge, this infamous prison in Australia. He came out, um, met my mom somehow. I think I think she was like a case worker or something. So there was some kind of tie there. Um, me and uh, two sisters were the result of that. So you can imagine those two different kinds of lifestyles were pretty conflicting. Like my mom was pretty, what's the word? Like straight edge, straight cut, and my old man was pretty pretty rough.
Well, he's obviously a closer.
He's a closer. All right. Well, if you can get a case worker who deals with inmates all day long to break the rules and get with you, well, then you were either charming—
Or a closer.
Or maybe both.
Maybe both. Well, he's, um, you know, he's rough around the edges, but he's he's a pretty talented kind of guy. Like, like, um, Crown Casino in Melbourne, he built that. Um, the house I bought off him, it's like 16-foot ceilings. And it's funny that, 'cause talking to him, you'd think like this guy's rough as [ __ ]. And you know, it's like when you talk to him, he's he's real [ __ ] in your face and, um, real aggressive. It's like, um, for example, when I was 18, we went out to the pub, old man came with me. And I've heard all these stories growing up, um, about him fighting and, you know, I don't know if it was true or not. And then when I was 18, I watched him knock out three blokes in about 3 minutes.
Is 18 the drinking age in Australia?
Yeah. Yeah.
Yeah. I started a lot a lot younger than that though. About 14. So, so basically you were kicked out of every school and police, uh, trouble with the police?
Probably fighting and whatnot.
Fighting, stealing cars, drink driving.
Had four kids to three women.
Yeah.
Okay. Man after my own heart.
So, what workplace injury stopped you from working?
Right. So, I was working, um, I won't say the company, but I was I was working for a company, um, at a paper mill and I, uh, two slip discs. Can't remember what ones. Um, two slip discs and it's like when when that becomes inflamed, it's like sometimes I won't walk for a week, you know what I mean? So, it's pretty bad. And and, um, when that happened, the company saw me as a liability, which I guess, you know, you are. And 'cause I was casual, they just kind of flipped me to the side like I was [ __ ] all. Um, put me in a situation where, um, I had all these kids to all these different women. I had a home loan. I had to do something about it. You know, it's like, do I sit there and I could try and sue this company or I could get on, um, you know, government pay center link. That that was the option. It's like, do I give up and just roll over and [ __ ] you know, just try and sue a company, or do I do something about it? So I thought, [ __ ] this. I want to learn about money and I want to try and buy a business. And from that decision, 3 months later, I bought a business for, uh, 2.4 million and, um, over-financed at 100 grand.
So, how did you know to do that?
I didn't. So, um, I as I said, I just started getting on getting on, um, YouTube and trying to learn about money. Found my way to a man named Dan Pena, who I know that you know pretty well. Um, and yeah, within 3 months, did my first deal and like the way my life changed, I can't even explain it and still pretty new to me. I'm only I'm only 10 months into this.
So you would say you're one of Dan Pena's star students.
I wouldn't say a star student. No way. Some of the people I've met through Pena, it's it's [ __ ] billionaires.
Really?
Billionaires using the exact same, exact same method that I'm using. Um, obviously I'm not there yet, but that's the goal.
Well, what's the meth? But you already bought a business that was that's 2.4 mil.
Well, that's the thing. I bought one. I want 100 of the [ __ ].
Yeah, but you're getting started.
Yeah. Well, it's it isn't good enough. I've met people that do 10 deals a year.
So, so, but again, at the end of the day, for people listening, like he's proof that it works 'cause you were you were you were—
Undoubted [ __ ] all. [ __ ] all, mate.
Yeah. You were [ __ ] old, weren't you?
That's it.
Dude. You had kids from multiple women. You just lost your job. You're working at a paper mill even when you had a job, bro. Like, that's nothing.
Oh, the pay was all right.
Back when I grew up, that was like the killer job to get, too. Like if I'd have got the paper mill job, my parents would have been proud.
Where where I was, everyone, if you can get on the power station or the paper mill, you're doing good.
Yeah, that's where I grew up. So, so but you were still like, imagine if you didn't slip your discs.
Imagine if you imagine if you didn't get hurt.
Well, here's the thing. It's like a lot of people, a lot of people don't have that fire. You know what I mean? And it, it's, um, some people, there has to be a reason for you to take action. So, I had desperation. It was like my back was against the wall. It was like, like I remember sitting there and thinking, "Fuck, I'm not going to be able to pay my home loan." I called the bank and said, "I'm not going to be able to pay this."
Well, at least you had a home loan.
Well, 3 weeks later, when when we financed the business, that bank took over the home loan, paid that one out, and I was like, "Catch you later." You know what I mean? Better rate.
It's, you know—
So, so you're just getting started on your journey.
Just getting started.
Now, do people follow you on social media?
Than you want them to? Well, I've just made a new one 'cause 'cause you know, as I said to you earlier, it's like it's like if I can [ __ ] do this, anyone can do this and they should.
That Instagram, folks, at Christian Daw26. D is D A WS or Doors?
How do you say it?
Doors.
Doors.
Doors. Doorsy.
Like, is that a door?
At least he's the doors, man.
So, folks, if you guys want to watch his journey, then go follow him at Christian Dawes 26. Why 26?
Birthday.
What month?
August. Think then. [ __ ]
So, so, uh, ultimately you went to Dan's castle.
How, how's the castle look?
It's insane. It's surreal. This is what I mean. It's like going from, I think I think the timeline was was 4 months from, no, 3 months from closing the deal. Like I was in a situation where, like, I couldn't even afford to drive to Melbourne, two hours away, you know? And then three months later, I'm on a plane going to Scotland for two weeks to stay in a castle with a billionaire and a bunch of [ __ ] business people from all over the world, you know? It's like, it's a pretty surreal experience. And and once once I was there, like I went there kind of, you know, I had a little chip on me shoulder. I thought, you know, I've done a deal and I get there and there's people there that are worth 50 million or or whatever the [ __ ] it is. And it's—
Why are they there if they're already worth that kind of money?
Because there's levels to this. There's levels to this. It's like you could go and buy, um, you could be in my in my situation where you're doing a couple hundred grand a month and you could say, "All right, I'm comfortable. I'm just going to cruise. I'm going to cruise." It's like because the lifestyle I was living beforehand compared to now, it's a lot better. But then when you're exposed to people that are like, um, for example, it's it's this building I've been in today. It's like I know that's achievable for me. There's levels to it though. I could be comfortable where I am right now or I can push for something more. And why wouldn't I want to do that? You only have one life.
Do you think it's better to build a business or buy a business?
Buy a business.
I would agree because all the businesses I have, I built them all.
And they're over what timeframe to to to make them cash flow?
Well, the the first one, uh, took about 20 years.
Yeah.
And now I can build them in in a year or two only because of my social.
See, imagine if you had 20 years of acquisitions under your belt. You could have you could have done a hundred deals by then.
Oh, dude. If I knew what Dan teaches back then, I would already be a billionaire.
And now—
And I'm starting right now to start doing this exact thing. I mean, it's not exact 'cause I don't know what QLA. I'm going to go to the castle for just for fun. Um, but I want to learn the details of what he says, but I understand M&A and I understand, uh, you know, how to get it and I have, you know, killer credit and I have money. So, it's I'm not starting out where you were. What I want them to know is like, dude, of course I can go buy businesses, but can a normal person?
Here is a normal person. And the answer is yes.
You don't even have to be normal. You can you could literally be a [ __ ] a drug addict, homeless drug addict. And if you clean your [ __ ] up and if you present well and if you find the right people and if you learn leverage because because it's like if you can learn to leverage people's credibility and people's money, you're going to make it. That's how you [ __ ] do it. That that's how I did it. Like I was going to banks. Um, funny story, right? So I got a job at a real estate agency. So a mentor that I found, um, 'cause 'cause like as I said, started learning about money and I realized everyone's got mentors. Everyone's got they're under someone's wing. Found a mentor. He's done it really well in property. And, um, I started hanging out with him and I thought, property is how I'm going to do it. It's going to be property. So I started working at a real estate agency. Did my course online. Um, and I was working there. I was on minimum wage. I think it was $23 an hour, $22 an hour. Um, and then I tried to buy that real estate agency. That a couple months later, I bought a waste management business because because it's like I was focused on that one path and I found something that that worked and and, um, and was better. And what I'm trying to get at is it doesn't matter what industry, doesn't matter who you are. If you present well and if you learn leverage, um, you can make it happen.
What do you think he teaches more than anything? What are the basic principles of the QLA?
I think, um, he he says, and look, I'm no expert. I'm definitely no [ __ ] expert. I don't want to put words in his mouth, you know? He probably comes smack around the head. So, it's it's, um, who who you need to be to get it done. And this is why I said it's like you could be this kind of person, but once once, um, the obvious change presents itself to you, and if you don't take action, and if you don't become the kind of person that can do these kinds of things, it won't work. That's why being inspired and being desperate is so [ __ ] important. 'Cause if you if you aren't willing to change or if you're comfortable, you know what I mean? You have to be the you have to be the [ __ ] man that can do it.
Does he tell you to wear the suits?
That's why I'm in it. But right.
Does Dan think you have to wear suits?
Well, he does. Um, and he says to. And here's why. 'Cause if you go into a bank in a, um, let's say that you're just wearing shorts and thongs and, you know, a [ __ ] baseball cap. You go into a bank and you're trying to get $100 million, right? Or if you go in there and if you're dressed like this or if you're dressed like them, and, um, the two scenarios, you're presenting the same information, who's more likely to get it? 'Cause at the end of the day, it's all human interaction. Everything is human interaction. From trying to approach sellers, it's like you're talking to a human being. Trying to get the money, you're talking to a human being. So, it's like you can say, um, uh, uh, that you don't judge people, but everybody naturally just judges by who you see, how they sound, how they present. That just happens naturally. So if I walked in, let's say like this, you walked in like that. Bankers didn't know who we were, they're likely to give you the money because you have a suit.
I believe. So yes, depend. It It depends though. And and it's like try try and gauge a situation. And this is why you interview bankers and you don't, um, you don't go in there begging, say, "Can I please have the money?" You go in there and you say, "Um,
Why should I get the money from you?"
Yeah. Exactly. Right. It's like, "I'm going to be a client. We're going to be a partnership here." Because realistically, if you think about it, it's like, um, and this isn't, I've never, you say this is just how I think about it. From day one, you're in business with two people. And that's if there's banks involved, that's the [ __ ] bank and it's the government. You can't avoid those two things. Well, actually, some people do, but they normally end up in jail, don't they? So—
Yeah. Well, not in America. You got to you got to include the gov. The gov's your partner on everything.
Is that how it is in Australia?
Definitely. Probably more so in Australia. So, so I agree with Dan then if that's what he teaches, 'cause it's all about relationships at the end of the day.
Um, I don't necessarily agree with the suit, but I could see why you you think that because you said Dan doesn't think that.
He wears suits all the time.
He does. And and and for me, it's just fun to do it 'cause from my past, the only other places I've worn suits was weddings and court dates. That's it.
Yeah. I used to wear suits every day all day for years, which is why now I don't.
Wait, wait. So, as you're building your credibility, building, you know, who Brad Lee is, you're wearing a suit. And now, now that you're there, you don't have to.
Now that I'm there, it's like one day I wouldn't be present.
I have I have, um, my rule says if I'm getting married or buried, I'll wear one suit and tie.
Yeah. But I'm not today. So, I'm not I'm not either one. So, I'm not going to wear—
You've made it. So, you can—
Well, I haven't made it yet. I'm still on the same path, my friend. I'm just still. I mean, you know, I might be in a. What's your goal? My goal is to eventually hit the B level. I'm not I'm not a billionaire. Not anywhere close. Um, I'm comfortable, I would say. But that's my problem. So so I'm going to get uncomfortable and I'm going to start buying and selling businesses. I'm going to start showing people how by hauling them to to Dan's with me or just go to Dan and say, "Hey, let me be your your first protege where if they can't afford Scotland, they can just come to little old me in America."
Good luck with that.
Um, but I mean, again, buying and selling businesses here in the United States is not that difficult. Like I I've been studying it.
Seems to be a lot easier here than Australia.
Well, and and not only that, it's like I haven't even read one of Dan's books, so it it's doable. Um, I've watched several people do it. I know a lot of people that do it for a living and like you said, they're they're buying 20 to 50 businesses a year and they're loaded.
And it doesn't make sense how easy it is. Then I look around and go, why isn't more people doing this?
So easy.
Um, I'm going to be doing some sort of an event in October, uh, where I'm going to bring people in. I should have Dan come and and hit him up.
Pitch his QLA.
Um, well, he don't really care anymore. He he'll come if he happens to be in town. Um, but but so you bought your first business, 2.4 million it cost.
Yeah.
But what was it worth more than likely?
Um, so that was I can't remember the multiple, but it was less than three. That was less than three. And generally you want to try and find them between three to five. Um, reason being, it's it's pretty easy to fund them there and if you can get 10 businesses at three to five, as you, um, consolidate them and put these revenues together, your EBITDA will grow and then the multiple is—
Is going to be higher. Exactly right. So if you so if you buy 10 of them, you might depending on the industry, if you can buy them within that three to five kind of range realm, whatever you want to call it, after 3 to 5 years, you could sell it at a 10.
If you if you—
And you can do this—
Successfully integrate them and put them all under one—
Yeah, exactly right. So see, and that's a different challenge. It's like, um, I'm I'm not a [ __ ] manager. I'm not a manager, but I am good at keeping people busy. So if I can get a good good team underneath me, good team underneath me, and I just keep [ __ ] feeding them, I keep them busy. But like integration, sorry, in integrating two businesses, it's like you you get a business with one culture and then the other one has a completely other culture and you don't want to upset it too much because you can [ __ ] things up. Capex can go up. You can, you know, um, it it's easy to make mistakes. That's why you go for high-margin businesses because if you go for high-margin business, you can [ __ ] up and and [ __ ] ups cost. So it will cost you, but that is where that, um, high margin comes in because that there's more room for error.
So, so how did you know this business was a good business? Did you just self-study or did Dan teach you this?
Um, so as—
You had you had the business before you went to Dan?
Yeah, before I went to Dan.
So you just grabbed the nut sack and bought a business.
Just [ __ ] went for it.
So did you Google or like how did you know what the EBITDA was? And—
See, at at that point, I didn't even know what the [ __ ] EBITDA was. I I didn't know what that meant. I didn't know.
You don't need—
How did you how did you find the business?
Um, so it's a pretty small place where I am. I was actually, um, explaining to a friend of mine. I was explaining to him, um, what I'm trying to do. He goes, "Oh, I think that this bloke kind of fits fits those metrics. He's, you know, he's over this age and the business has government contracts." I thought, "Fuck, done. Get me his number." I'm pretty sure it was a Sunday night, 7:30. I'm on the phone [ __ ] calling, calling. He's got to get through to him. And happened just like that.
And you got through to him. What'd you say?
I can't I can't remember. It was probably something along, you know, along the lines of, "I'm Christian Doors. Doesn't want to buy your business. [ __ ] sell it to me." Like—
Did he just happen to want to sell it?
Um, yeah. Well, he was just at the right age.
It wasn't listed.
No, that wasn't listed. And and that there's, um, I found that to be a problem when when I'm looking for businesses that brokers have got their hands on. It can normally be a [ __ ] problem. Like like brokers slow [ __ ] down. Um, for example, there's there's a couple businesses that we're looking at now. Um, different different company. Um, that's a substantial acquisition that there's, you know, close to 100 million we're trying to work on. Um, that took about six months to get the numbers for. And Dan, Dan said, "Fuck them. Taking too long. [ __ ] him." But it's like, I just want to do big [ __ ].
So, so, so my goal is to create a thousand jobs in the area that I'm in 'cause there's power stations closing down. There's, um, the the government's push for net zero. It's it's just [ __ ] up that whole area. And and, um, it's like we've got to respect our environment. But, um, what what do we know of, um, with with climate change or with anything like that that that you could actually achieve a zero? It isn't realistic. It's like we we have to work with the environment. But, but you can't set unrealistic expectations and things like that and and that whole woke agenda is just crippling crippling industries where we are.
Do you have Amish in Australia?
No.
You know what the Amish are?
I'm familiar with them.
Well, they basically don't use electricity. They drive carts and horses and buggies.
Yeah.
They figured it out.
Yeah, but they they'd still be making an impact somewhere.
I know. They don't use any electricity.
Yeah, but but even—
I wouldn't want to live that way. They live like they're in the 1600s. But at the end of the day, why go backwards if if you know if you don't want to make a footprint, you could. But again, it's not realistic. And not only that, this earth's been around for how long? I think it's going to be just fine.
Yeah, agree. I I don't I don't believe in global warming. Did you see the famous video of Dan telling that girl about global warming?
The other day I actually asked, um, there's a guy that I was with the other day. I won't say who. Um, but he is he's a pretty big player in the renewable space and he said, I asked him, and he said to my face, he just said, "It's a great opportunity to make money, but it's a load of [ __ ]" and he's done some of the biggest deals in the world in that area.
So, are you getting to hang around a lot of different people now? You're not hanging around your old buddies except one.
Except one. And And that's because he's on the same journey I am.
Yeah.
And if he wasn't, cut him off. A lot of people, um, well, if there's people watching this that I was hanging around with two years ago, I disappeared. I completely disappeared. And that was necessary because you are who you hang around. You are your influences. It's like your most common influences will be who you are. And that is why I'm trying to get around people like you and Pena. And that is why I'm over here in the States. And the people I've been around, it's it's, um, the way they view the world and the way that they move is completely [ __ ] different. Like if I went to someone back at home and said, "Look, um, I'm going to try and buy this copper mine." You know, which is something that we're trying to do. I'm going to try and buy this copper mine. I'm going to try and get it anyway. They'd probably laugh at you, you know? They'd laugh and say, "Fuck off. You're a dreamer. You're an idiot. Just have a beer, watch your footy, and shut up." You know what I mean? Or they say, "You're weird." But these people, you say, "I'm trying to buy a copper mine." They'll say, "How? Tell me about the deal." You tell them about it, and they say, "Why don't you try this? Why don't you try that? You know what I mean? It it isn't why you can't do it. It's it's how can you. It's a complete different complete different mindset.
So, let's walk through it. Um, you find a business. Let's say it's for most people, unbelievably out of your range. So, let's say a copper mine. What's it worth?
Well, we're trying to work that out because it isn't, um, it isn't cash flowing, but with government grants, I believe we can get it cash flowing. So, there's a problem.
So, you're buying a non-cash-flowing business?
Yeah, but just hear me out. So—
I know, but if I were Dan, I would tell you, why would you do that?
Just hear me out. Hear me out. Right. So there is, um, more than 2 billion of resource in the ground. The company that has it now has, um, a feasibility study that's nearly done. We know the resources there. We know it's there. The only reason it isn't happening for this company is they've got, um, commitments to their stakeholders, shareholders. So if they went and put all this money in that they could affect their share price, right? We didn't have that problem. So there is a, um, an issue with their, we'll just call it the process. Government stood in and said, "Fuck your project. You're not doing the right thing. We're going to take this off your hands." And they've done that. So now the government is spending money and they're just maintaining this this problem because I've got a solution. I found government grants. I'm going to go and apply for these grants with the company and we're going to say, "Hey, we can fix your solution." In the meantime, while we're fixing that, and if we're successful, then we can at unlock the value in that project. And as I said, that there's over two billion at today, at at today's prices. So it's it's pretty much picking up someone else's project and just fine-tuning it and getting it cash flowing.
All right, let's use a different business then because like I wouldn't buy a non-cash-flowing business, but you with all the extenuating circumstances—
I want to create jobs. It isn't just about I want to create jobs. That's—
And you and you see stuff that's like that's not necessarily the norm. So let's— The norm is companies throwing off $4 million profit y—
A year. I net what you—
Let's say EBITDA.
Yep. So it's $4 million a year. Most people, they're going to think, well, they're not going to sell that for anything less than 10 million.
All right. Well, here's the thing. What if that person is 55 and over, and if they've got no kids, and they've been making nearly 4 million a year for the last 20 years, and they, you know, they've they've they've set themselves up. They've probably got 50 rentals or [ __ ], they got cash coming in from other places. That business is a problem for them. And not only that, but this guy's at an age now where he's got, you know, he's got [ __ ] cancer.
He hasn't got long to live.
He's 55. The age of cancer.
He He's got cancer and he's [ __ ], you know, he's sick and and and the business is a problem. He's got no one to leave it to. And guess what?
How many of those do you think are out there?
There's [ __ ] heaps. And then guess what? His [ __ ] phone rings and Christian Doors on the other line. Christian Doors is there saying, "Listen, I'll take that problem off your hands." You know, he's here is X amount because you throw the multiple, um, of the EBITDA at him. You don't throw a cash figure. You throw that multiple at them. You say three to five. They're thinking, "Fuck, like, like I could be getting five times that profit right now for this, and the problem's gone. I could just retire, just live my last, you know, couple years." That is what you want to find. You want to try and find someone like that. Now, I've—
What How many businesses have you cold-called like that?
Oh, [ __ ]. A lot. Hundreds. Probably thousands.
See, that's where people will also quit. They'll call five or 10, get told to pound sand, and give up.
Well, well, if you're a quitter, just just quit now. Don't even start. How long did it take you to find your first deal?
A week.
So, you got lucky.
No. If you knew if you knew how many [ __ ] hours I put in seven days a week. Do you know how many times I've been—
You said you you found it in a week.
Yeah. That That's—
So, you worked seven days and found one.
Yeah. But that's not luck. That's not luck. Think of it like this. Thousand years ago, right? Thousand years ago, we were hunting for food, hunting. You know what I mean? I hunt for opportunities. That That's in my [ __ ] blood. Some of us still have that. Some of some men have that, some don't. And this is what I mean like being desperate or inspired. It's like [ __ ] it doesn't take much for me to feel those things and to take action on something. You know what I mean? So, so it's like it isn't uncommon to call 50 businesses in a day. Sometimes I'll be driving past the business and I'll see the sign, oh [ __ ] turn around. I'll just walk in. You mean like not even dressed like this. I'll just walk in. Can I buy your business? And a lot of times like who the [ __ ] are you? And a lot of people a lot of people give you that kind of look like who the [ __ ] are you? And they give you that doubt. For me, that's motivation. It's kind of like, "All right, all right. If this if this is something that I want and this is a good deal, I'm going to push for it." You know, it it isn't—
Well, because you're going to run the numbers.
Yeah. Exactly. Right. And and and the numbers can't lie. If the numbers don't work, just [ __ ] put in the bin next.
So, let's let's let's keep going. So, I find a business. It's throwing off four mil. You call the guy. You say, "You willing to sell it?" He's like, "Yeah, I I I do want to sell it. Actually, I've had it for a while. My kids don't want it. I'd be interested in in in selling it." And then and then what?
Well, now you got a project. And this isn't QLA exactly. This is just my my thoughts on it. If you want to do QLA, go suss out Dan Pena. I'm not going to I'm not going to try and push his stuff. That's that's his. So I look like this, right? So you've got a project. There's there's the three things that you need, right? You need a project, you need people, and you need the money. And I believe you can do it in you can pick any of them to start. Any any one of those three you can pick to start. You can go to a bank, interview a bank, find out where they're lending money, and then go find a deal that fits those metrics and parameters, or you can go and you can put a team together of people, and then you can go find, um, a project. So, in this, um, situation, we've got the project. Right now, you need the people because unless you're somebody who's got credibility, um, and got money, then you're going to need credibility and money, which is people and and and and financing it somehow. First thing you can do is though, go and find the people. Once you've got the people and you got a company, you got the board, then offer sellers finance to them. See if there's a way you can structure a deal where out of that 4 million, you can pay, um, whatever price you guys agreed on.
What if he says, "Okay, give me a million and I'll finance the rest."
If he says that, then [ __ ] do it.
Where's the million coming from?
Go find it.
Yeah, but you make it sound so easy.
It is. You know how you know how, uh—
Anybody can just any anybody that's normal, meaning their friends aren't making a lot of money, their parents aren't rich, they're just regular—
Everyday people.
Yeah.
You know, maybe they got a construction job and you got them inspired. So they go out and all of a sudden the guy goes, "Yeah, and you know, million bucks." Well, and then they go, "Shit, I ain't got a million bucks." And you say, "Go find it."
If I needed a million bucks, right, there's a problem in front of me. Solve the [ __ ] problem. I've asked mentors for for for, you know, similar amounts. I haven't got it yet. I've I've done all my deals from the banks.
So you go to the bank and the bank says what?
It depends on the deal.
Don't they want to know your credit and everything?
They didn't ask me for my credit.
Most people don't understand why. Tell them why your credit's not—
Because you are it isn't you getting the money. It's the entity you've set up. It's a company you've set up that's borrowing and it's a strength of the cash flow in the business. And and, um, I don't know how it works exactly here. Um, in Australia, say, um, if you're borrowing against a business, sorry, if you're trying to buy a business that's say waste management, it's a lot of trucks there. That's assets. You there's your security. That's how the banks I get comfort. Let's let's say that purchase price is 10 mil, assets are worth six. The banks would come in and they go, "Oh, look, there's there's 4 mil there. That's unsecured. Um, what do you got? You can even go to your board. What have they got?" And if they believe in your vision, they'll they'll give you the equity. You don't always need it either. You can find deals good enough. You don't need it. And once you have momentum, we've done a couple, um, non-recourse. You can start going for non-recourse.
What would you think the hardest part is? Finding the deal.
Um, see, it it all depends. It all depends on the situation. It's it's it's different. It isn't hard. It isn't hard.
Well, 'cause dude, I mean, I almost want to play devil's advocate 'cause I agree. Technically—
It isn't hard. There's a lot of problems. Just [ __ ] solve them.
But there's But there's volume. And some people think it it is hard 'cause you have to call a thousand businesses when in reality—
Is this hard? Calling a business, but it's mentally challenging and people like, but that's what I want to get across is when you say it's not hard, there's still work to do.
There's a lot of work.
So if someone's willing to call 300 businesses and get rejected 299, do you think you will find a business out of 300? You'll find you will find potential deals because you can get people that say, "Yep, yep. I'm keen. Let's go." You start looking at it and they just [ __ ] you around. That happens all the time. It wastes so much [ __ ] time. And I used to get caught up in that. Now, now I'm more, if it doesn't work, [ __ ] off, you know? Um, I've had people come in, um, and say, "Look, we want 4.6 million. Yep, that's going to work." And then they changed, um, the structure of a deal. They say, "All right, now we want 4.6 million, but it's not an asset sale anymore. Now it's going to be a share sale, which means that I can't, um, depreciate the values of those assets and then it doesn't work for me. That like my cash flow is [ __ ]. So it doesn't work. [ __ ] off." And like for that one, for instance, that that was like 4 months of work lost like that.
But they all should be asset sales, shouldn't they?
Um, try try and do that. See, it could be different in America, but I know in Australia for me, asset sale works better for multiple reasons. 'Cause if you're doing a share sale, you then inherit, um, any of the issues that business has, whether it's work work cover claims or whatever it is, any legal issues, you want to inherit that. Um, any liabilities. If you do an asset sale, it's a new entity. You've opened a new company.
You're just buying the assets, the customers, the cash flow. And then let's say that, you know, you spent 6 million or whatever it is on the assets. You can now depreciate that, which adds to your bottom line. But see all this [ __ ]. You don't need to know this. All you need is somebody in your company that you've given equity to that knows. You don't even need to know. I knew none of this when I did my first deal.
Who did?
Um, a guy named Michael and he's [ __ ] amazing. He's [ __ ] amazing.
What's mineral mining?
Um, so in Australia, I see opportunity, especially in the area that I'm in. Um, and I look, I could be restricting myself by trying to stay local, but I've got like sentimental reasons. Like, as I said, my goals, right? I'm trying to create a thousand jobs, right, in that area. And there's a lot of a lot of minerals there. There's a lot of projects going on. There's licenses getting slapped down everywhere. I think it's a good one to get into. In about two weeks, I put a company together of so like, um, for instance, the people in this company I put together. Um, and if any of you guys are watching this, you'll probably have a laugh. When I first was talking to these these people, I'd have ChatGBT open on my phone 'cause they'd be talking about certain things and I'll be like, "What the [ __ ] does that mean?" I putting it in the ChatGBT and you know what I mean? I was I was looking up and kind of like, you know, holy [ __ ]. Like, um, these people have done large deals all over the world. Like one of them just IPOed one of his companies two weeks ago. It's, you know, for for me to even, like, I didn't even understand what that meant a year ago. I didn't understand what it meant to take a company public. You know what I? And it's like now I'm surrounded by these kind of people and and they're they're constantly doing these things and if they can do it, why can't I do it?
Do you ever, uh, make sure that you're always controlling shareholder or what?
Um, what do you mean by that? Like, like—
Like to where you can't be kicked out of your own company?
Yeah. Yeah. So, um, see that was I didn't do that with my first company. I didn't know about it. In my first company, um, but I've got some good guys there. Um, it is, I guess you'd say it's restrictive in some ways, um, because we didn't set up for QLA for Pena's method. We just set up to buy a business and then once I come back from the castle, I like to sit down with these guys and say, "Hey, this is what we're trying to do. If we're not going to do it this way, I got to leave." And they're [ __ ] great. No, they they shifted, they pivoted. Now that's what we're doing.
So QLA basically says go hunt down a deal. Get creative. But what are the little details that one wouldn't normally know until they go to the castle?
Little details. Um, see, I don't think the little details matter. It doesn't really matter. It's like it's like you can you can zoom in on on the little details, but if the numbers work, buy the [ __ ] business. If they don't work, sorry. If the numbers work, try and find the money. If the numbers don't work, next. Try not to get too involved in it.
Does QLA teach you how the money works?
Yes.
Like what if someone's They don't know if the money works though.
Well, if you're going to go to the castle, and I know that you've got a couple businesses and you're doing pretty good, um, take take as many [ __ ] notepads as you can. So, he gives you one. Um, I think I I filled up two and a half when I was there. And and and the this is information that when I left, I had to go over and over and over and and learn about it 'cause it's, um, all this [ __ ]. But but like you don't you don't need it. You don't you don't need—
What does what does somebody listening need to go buy a business?
You need to learn leverage. You need other people, other people's money. And you got to learn how to, um, how to speak to people. You got to learn people skills. And you got to learn consistency, discipline, and consistency. You got to learn how to be the person that can do it. 'Cause if you're not right now, you are capable of changing to be that [ __ ] person. And you can do it. Like [ __ ] I did it. Like I'm I'm nothing special. I [ __ ] did it. I'm still doing it.
Do you do Do you have a criminal background?
Yeah. [ __ ] yeah.
What were you doing?
Stupid [ __ ]. Lots of stupid [ __ ]. Like like like, um, fights, um, in, uh, a lot of stupid [ __ ] [ __ ] that I haven't done in 10 years, you know. And and you got to remember I come from that kind of background where I was like, um, I grew up in a I grew up in an environment where everyone heard my old man's name and they were like, "Fuck, you saw his son." You know what I mean? So I thought growing up as a kid that to be a man meant to be like, I I don't know if it was so much feared, but that's—
Where I saw respect come from. You know what I mean? So, like, that influence was bad for me. Even though my old man was telling me not to be like that. He was telling me not to, 'cause he'd learned that lesson. You know, now, now I'm trying to do the opposite. I'm trying to help people, trying to give back. And, you know, like, like money is a byproduct of that. Like, if I can create those thousand jobs, obviously I'm going to be doing it right. No, but, but it's, it's, it's like money is a byproduct, a byproduct of doing the right things. And, man. Like, like, if I can do it, anyone can do this, honestly.
>> Are you going to, are you going to like mentor people once you've arrived?
I'm not a guru. Like, like, I'm not a, who the hell am I to mentor people? Not yet. May, maybe when I'm 50 and I've, you know, if I'm worth a billion bucks, then, then I'll probably start mentoring people. But right now, it's just, it's like, I could take the average person, get him one or two businesses, or I could push him towards Pena, into the, you know, someone like yourself, Pena, whatever, in, in the right direction. But I don't think that I'm, I'm credible enough. Like, I haven't done enough to do that, and I'm not going to pretend I have. Now, for the average person, they might look at me and think, "Oh, shit, you're doing all right." But the people that I'm around now, and, and the, the size of the deals and the complexity of them now that I'm seeing now, it's like, I've done shit all. I've done shit all. It's nearly embarrassing to talk about it for me, you know? But it's doable. And if somebody does just want to change their life, it's like, it isn't shit hard. It's a couple phone calls away.
>> So, so when these people uh sold you their business and it was in your name?
Yeah.
>> So, when company's name? Yeah.
>> The the day it closed, did you?
>> Did they leave or did they stay on and and and run it for you?
Um, they left on, on, on the first day.
>> So, you allowed them to walk away.
Yes.
>> Wasn't that foolish? Why would you, why would you not keep them on so you know where everything is?
Simplicity of this business. As I said, there's government contracts. It was running itself. So, we kind of looked at it and thought, "All right, look, we can, we can take, just fine-tune it and just do better by our, um, by our employees, look after them better, try and do a better service." The guy that I bought this business off, and a lot of them are like this, he ran it all off his iPhone. He couldn't even send a shit text message. You know what I mean? It's like, and this is the thing. It's like, a lot of people think that the, the person at the head of a company is some amazing intelligent human being. It's like, no, they're probably shit dumber than you. You know what I mean? A lot of these people, you talk to them, they don't even understand what the hell you're trying to do. A lot of these bankers that I talk to don't even understand what I'm trying to do. They don't see it. They're normally giving loans out to, to shit people trying to start businesses and coffee shops and, which is good. Go do that if that's your thing. But, but, but it's like, don't just assume because someone is in, in a better place than you that they're smarter than you, better than you, more capable than you. That is not true. It's just like, if you have a vision, and if you take action on that vision, and if you're consistent and disciplined, and if you make that a priority, it's going to happen one way or another.
>> What do you think the number, the top three things you learn from the castle?
Is be persistent. The top three things. Shit, the, there's a lot. I, I don't know if I can give you a top three. Honestly, it's just be persistent, repetition, and just prioritize it.
>> So, if you were just going to briefly tell someone how to get started, number one, who, who am I calling? Any business. Start.
>> How do I select the business?
Just start practicing. See, see, it depends what you want, though. If you want 100 million, or if you want one business, it all depends. 'Cause if you want 100 million, go and find Dan Pena and just do what he says, you know? Don't, don't come to me for it. Go to him and just do what he says. If you just want one shit business, there's three things you need. You need a project. That's the business. So, you're going to find that by calling.
>> How do you find it?
Just start fucking calling. Just, just literally get on Google, get on Chat GPT. It isn't hard. Get on maps and just press on the businesses that they come up. Do.
>> Should you select a business you have an interest in or just any business?
Preferably, yes. But, um, see, that, that depends on the end goal. If you just, if, if you want a hundred million, then.
>> Like right across the street, there's a car wash.
Yeah.
>> Should I just go buy the car wash?
Depends. It all depends on your end goal. If you just want, if you just want to change your life a little bit, then, then, then go do it. If you want 100 million, you need to think, "All right, I need to put together a company," and then we have to go buy a hundred of those things. It's, it's a different kind of game there. If you just want to buy one shit business, just, just, just if the numbers work, it works. And not only that, but if you get one done, you can always pivot. If you get one deal done, you've now got credibility. You can go to a bank and say, "Look, we did this. We managed it correctly, and we're doing all right." Right now, I want to sell that, or I'm going to fucking borrow against it, whatever. It's, it's, it's like, it's like building your credibility is more important than the deal. You know what I mean? It's like, you can go buy a shit coffee shop, and you've got credibility, and then you can go from, you know, you can fucking that off. You've done a deal. You've got something on your resume now. You've got something.
>> But there's some businesses that never sell.
Yeah. Well, they're shit. Don't buy them. Well, dude, listen. Out of, let's say, 30 million businesses for sale.
>> Only 8% sell.
The other ones are not shit business. Just nobody buys them.
>> Why is that? Maybe there's not enough people buying them.
There's not enough people.
>> That's what I mean. That, um, the mentality of the average person is, "I can't do this. I don't have the money. I don't know where to start."
Yeah. Well, my mentality is just, "Shit, start." You know, work the problems out one at a time as they come. And if you have no problems, you have no, uh, uh, progression. If you have nothing to work on and solve and fix, you are not moving forward at all.
>> Well, again, I agree, only because I know. But I'm trying to put myself in the listener's spot, and they're going to be thinking these excuses that I keep trying to bring up for you to blow past. Well, again, like, what's tactically the thing you should do? For example, number one, figure out what kind of business you wouldn't mind dealing with, 'cause you, you might have to deal with it for a little bit. Number two, don't buy a business thinking you're going to sell it the next day, because you just bought it, so it's going to be with you two or three years. So, if you, if, if you hate what it is, it does, I wouldn't focus there. I'd go find a business that follows your passion, that you kind of,
>> Get a little bit excited about.
So, let's say, it could be, let's say, I'm a stay-at-home mom. Well, go buy a nail salon if you like nails. Go buy a freaking, uh, a restaurant. Well, I wouldn't buy a restaurant. I don't like restaurants. Um, but go buy something that, that turns you on a little bit, is all I'm saying. So, that'd be step one. And then what? Well, then just start calling businesses, which is just. And then don't stop. And then, well, what do I say when I get a hold of them? Say, "I want to buy your business." And then what?
>> And then I need your financials. And then what?
Because you know they, it's almost like they need every little step before they have feel confident enough just to, to move.
>> That's right.
>> And you didn't, you just said, "Shit it."
I said, "Shit it." I'm going to do it. But, but also, I got to touch on, I couldn't have done this without the people around me.
>> The business wouldn't be running if I didn't have the right people there.
Your people.
>> My people. They're fucking amazing.
>> What if you didn't know them?
I, I, like, if I didn't know them, I have to go find. I have to go find them. And, and it isn't like there's a shortage of people. They're out there. And a lot of these people, um, say LinkedIn, it's the best, shit, it's the best tool for this. Get on LinkedIn and message a thousand people. Know say, "This is the role, this is what we're doing." And, and if your message is shit, put it in Chat GPT. It isn't hard. You can sit there and say, "Oh, yeah, but I'm dyslexic." Just, shit, Chat GPT isn't. Use that. You know what I mean? Like, like, there's solutions. Like, dude,
>> There's no excuses. There's solutions to every single shit problem.
Every single one.
>> Sounds like a no-brainer, folks. I'm not sure why all of you are working at companies in a cubicle, hating life, when you really want to own a business.
Well, hey, that is probably a self-worth thing.
>> Now, they would think I'd say, "Now, if you guys want to buy a business, Christian has a course."
You ain't teaching this.
>> I'm not teaching it.
>> You're just telling the story.
We said, "Hey, what do you want to, is there anything you want to talk about?" And you said, "I just want people to."
>> That's right.
>> Realize how easy it is if they really want it. All they have to do is change.
See, you know, Andy Elliot, I had a brief discussion with him. Um, I wanted to try and do a podcast with him because, because I just want to get this out there because who knows, maybe in 10 years, I, I'll be teaching it or something. Who knows? Like, like, I've found a passion, and my passion is to help people. I don't know why. It's just like, like the people that know me know that, that, um, my whole life, like, even when I bought my first house, right? I bought, I was telling everyone how to buy a house. I was in there trying to shove it down everyone's throats. "You need to buy a house." You know, it's like, um, when I started doing fly and fly out when I was younger, shoving that down, you know, jiu-jitsu, shoving that down people's throats. Like, like all these shit that, all the shit that I've taken on, I just want to give to other people. So, so like, eventually, maybe I would do something like this. But anyway, Andy Elliott, I was talking to him, just, just briefly, and he's like, "Why don't you do a course?" But I don't think I'm credible enough. You know what I mean? I'm not a, shit, Dan Pena. I'm not a Bradley.
>> I will be.
>> Well, that's smart. You're, you're, you're saying, "Let me do something first."
Exactly. And, and, and that's what it means. I could show people how to buy a couple businesses. I can, I can show what worked for me, where I am. I haven't done it internationally. Um, like, I am across different industries, but I haven't done anything substantial yet. Once I've done something substantial where I have that undeniable credibility, then I'll try and, you know, then I'll try and do that. But.
>> So, what's, what's next for you?
Um, hopefully, I can get, um, this mineral mining company doing something big. Well, sorry, I will do something big. We're, um, we're working on different deals at the moment, trying to, trying to see what's going to work. What exact, this is what I mean. It's like, I put the team together, and then I just give them deals and say, "Is, you know, what do we do with this? Does this work?" I don't, shit, know the industry.
>> If I want to put a team together, who would you advise?
Who would I advise? What kind of people do you need?
>> Yeah.
So, you need a CFO.
>> You need a chairman.
So, a chairman, um, typically is, is somebody who's done it.
>> That's the mentor.
Yeah. That's the mentor. They've done it. They've, they've, they've done it 10 times over. You don't need to explain who that is in the industry. You need to find someone like that. And these people will respond to you. They will talk to you. Some of these people have done it and seen it. So, so when they see what you're doing, and when you say, "This is the key word, free founders equity." A lot of these people have gone and built companies to hundreds of millions of dollars, and they've just been paid a wage. So, when you say, "I'm going to give you a piece of this for free. Don't do it for that company. Do it for me." As long as there's no conflicts, why the hell wouldn't they do it? So, you need a chairman, you need a CFO, um, you need an industry expert, and you're going to need, in my opinion, you need someone to run it, because I don't want to run these things. I will, if I have to, but like, I don't know if I'm the best person to do that. And, and, and, and I'm not going to pretend that I am. See, this is, this is something I see as well. Some people will buy businesses, and they get this big head, this massive ego, and they think they're fucking king dick, and that just slows them the hell down. You see that all the time. It slows them the hell down. It's like, that that ego is unhealthy. It's just going to slow you down. You got to go and find someone that can do it. Preferably, you don't even want to be there. If you, if you can do it right, preferably you don't even want to be there. And, um, another problem you get is like, all these people that, that, that you put together. You're now going to go buy a business. Let's say it's 20 staff, and they've been with this one guy for 20 years. See, they, they're going to feel uncomfortable, uneasy. Look after them. Look after your employees better than the last person. That's, there's always a goal. But if someone is isn't pulling their way, get rid of them straight away. It's good advice, folks. Hey, listen. What can the Bomb Squad do for Christian Dolls?
>> What do you mean? What can they do? What can you do? What do you mean? I don't know.
>> What can they do? Follow you?
Yeah. Yeah. If you just want, follow me. I don't give a shit.
>> Buy a book.
Reach out to me.
>> Give you a shout out?
No, you should. You should reach out. That's.
>> I got a few followers in Australia, too. That's where you guys live.
Yeah.
>> Yeah, that's right.
>> So, so you said on the way into the studio, you said, "Dude, I can't even believe they let me leave. Like, this wasn't even possible five years ago."
Wasn't possible.
>> Was your, what biggest shift did your mindset have to make in order to put you in a position where this is now reality?
I think I, when I started taking action on my goals, and how quick things can change. It's like, a lot of people spreadsheet the shit out of something. They, they, they think it has to happen this way. It's like, focus on the landing, you know? It's like, think, think of the long jump, right? When you're cold calling, you get in the runner. Once you got that shit, um, that that seller, now you've jumped. When you're in the air, you have no control. Focus on the fucking landing. Because once you get there, it's like, "Oh, this is possible. How do I recreate it? How do I recreate it?" And just, just keep, keep repeating it.
>> It's just work, man, when it boils down to it. Like, people give up because they don't know exactly what to say, so they won't call at all, which is stupid. Just call, figure it out. At the worst-case scenario, not only that, go to Dan Pena's QLA course. Google, go to Chat GPT. The information is out there. The lack of initiative is what you need.
I think the key point is just, "Shit, do something."
>> Do something.
I wish my bomb button was in here.
>> If there isn't, if there isn't a shit problem to solve, there's no progression. So, give yourself problems. And all I'm doing now is giving myself bigger problems. No, like, like, like that, um, copper project, for example. So many people said that won't work. So, I found the right people that understand how to get it to work. And even if it doesn't work, I've learned so much along the way. So, for the next deal, I have now all this information. Like, like, like, um, you go in green and uncomfortable. And if you're uncomfortable, you're learning. So, try and be uncomfortable.
>> Get uncomfortable, folks. See, again, these are lifelong. You ever read any books that teach you this stuff as well?
Not really.
>> Yeah. Like self-development books, you start reading, you'll start going, "Dude, that's, that's because you've just, you're discovering them without reading them." But dude, these are lessons that have been taught for years that people don't pick up on. Uncomfortability is what grows and strengthens and educates. I, I, I look for that feeling. I try and find that. That's like, but like I'm, you know, I'm not in the best physical shape. It's like, um, I'm, I'm going to try and do a marathon in two months, you know? It's like, think of business like that as well. It's like, if you're not, if you're not training for it.
>> If you want to be uncomfortable, shave the beard.
Yeah. Well, shit.
>> Huh?
Why don't you?
>> I don't know. I haven't done that in shit years. Look like an idiot, don't I? You see all me split lip and all that.
>> But, but that makes you uncomfortable.
True.
>> I don't think I don't think running a marathon is going to be too difficult for you.
I hate marathons.
>> See, some people, some people, they don't, they don't need to do anything physical. What they need to do is like, change something visual. Like, shave the beard. Go up to a guy that's had a beard like half his life.
>> That's uncomfortable shaving that beard.
I'll send you a picture. I'll do it.
>> Huh?
All right. Hey, appreciate you coming in. Folks, listen. You can go follow this dude, watch his journey, DM him. He's willing to talk to anybody. He's not here to sell you a course. In fact, he doesn't even have one or a book or anything. He's just, he just wanted to be on. I know that he was, uh, Dan's student, and he's done something successful. He's already hit one out of the park. He's continuing to hit one out of the park. And I said, "Listen, come on. Dropping bombs. Hopefully, we can inspire people to either A, go learn it from Dan, or just take action."
>> More importantly, what's that?
Just make that change.
>> Just make a change.
Everyone has these shit thoughts. If it's in your head, you can make it real.
>> Amen. Till next time, keep it real.